Tidewater Inc. Summary of Cash Compensation Arrangements with Directors (as of February 1, 2005)
Tidewater Inc. outlines the cash compensation for its outside directors as of February 1, 2005. Outside directors receive a $30,000 annual retainer and $1,500 for each board meeting attended. Committee chairmen receive an additional $5,000 annual retainer, and all committee members, including chairmen, receive $1,200 per committee meeting attended. Directors are also reimbursed for reasonable expenses related to meeting attendance. Mr. O'Malley, the former Chairman, President, and CEO, is reimbursed for secretarial support costs.
Exhibit 10.1
Tidewater Inc.
Summary of Cash Compensation Arrangements With Directors
As of February 1, 2005
Outside directors of Tidewater Inc. receive an annual retainer of $30,000 and a fee of $1,500 for attendance at each board meeting. The chairman of each board committee receives an additional annual retainer of $5,000, and each committee member, including the chairman, receives a fee of $1,200 for attendance at each committee meeting.
Directors also receive reimbursement for all reasonable expenses incurred in attending meetings, and Mr. O’Malley, the Company’s former Chairman, President, and Chief Executive Officer, is reimbursed for the cost of secretarial support.
