Company: TDDWW
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001104659-25-038699
Chunk: 45

Company: TIDEWATER INC
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 45
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 (a) his base salary in effect at the time of termination and (b) his target bonus, to be paid over a specified number of months following the termination date; (2) a pro-rata cash bonus for the fiscal year in which the termination occurs; (3) a lump sum cash payment for continuation coverage under the company’s health benefit plans; (4) immediate vesting of any unvested portion of his time-based equity awards that was scheduled to vest within 12 months of the termination date; and (5) retention of any unvested portion of his performance-based equity awards vesting within 12 months of the termination date, subject to the original performance conditions and payout timing. Under the consolidated agreement, the officer would not be entitled to any tax gross-ups for excise taxes that may be triggered under Sections 280G and 4999 of the Internal Revenue Code of 1986, as amended. However, the officer would be entitled to receive the “best net” treatment, which means that if the total of all change of control payments due him exceeds the threshold that would trigger the imposition of excise taxes, the officer will either (1) receive all payments and benefits due him and be responsible for paying all such taxes or (2) have his payments and benefits reduced such that imposition of the excise taxes is no longer triggered, depending on which method provides him the better after-tax result. The consolidated agreements contain certain restrictive covenants that apply during and after the officer’s employment, including an agreement to not disclose confidential information and, for a specified period of time following his termination of employment for any reason (other than a termination that occurs during a protected period by the company without cause or by the officer with good reason), non- competition and non-solicitation agreements. Compensation and Equity Ownership Policies Clawback Policy . Under our Compensation Recovery Policy, we may recover cash and equity incentive compensation awarded if the compensation was based on the achievement of financial results that were the subject of a subsequent restatement of our financial statements if the effect of the misstatement negatively impacted the amount of bonus or incentive compensation. Stock Ownership Guidelines . Under our stock ownership guidelines, our officers are required to hold the following amounts of company stock within five years of becoming an officer: • 5x salary for the Chief Executive Officer; • 3x salary for the Chief Operating Officer, Chief Financial Officer, and Executive Vice Presidents; and • 2x salary for all other officers. 50 TABLE OF CONTENTS If an officer