Document:

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                                                                   EXHIBIT 10(c)
                                                              EXECUTIVE OFFICERS

                                   [FORM OF]
                          CHANGE OF CONTROL AGREEMENT

     This is an amendment and restatement dated effective as of October 1, 1999
(the "Restatement Date"), of the Change of Control Agreement ("the Prior
Agreement") between Tidewater Inc., a Delaware corporation (the "Company"), and
[                 ] (the "Employee") dated effective as of September 30, 1996,
as now amended and restated, the "Agreement".

                                   ARTICLE I
                              CERTAIN DEFINITIONS

          1.1  AFFILIATE DEFINED.  "Affiliate" (and variants thereof) shall mean
a Person that controls, or is controlled by, or is under common control with,
another specified Person, either directly or indirectly.

          1.2  BENEFICIAL OWNER DEFINED.  "Beneficial Owner" (and variants
thereof), with respect to a security, shall mean a Person who, directly or
indirectly (through any contract, understanding, relationship or otherwise), has
or shares (i) the power to vote, or direct the voting of, the security, and/or
(ii) the power to dispose of, or to direct the disposition of, the security.

          1.3  CAUSE DEFINED.  "Cause" shall mean:

               (a) the willful and continued failure of the Employee to perform
substantially the Employee's duties with the Company or its Affiliates (other
than any such failure resulting from incapacity due to physical or mental
illness), after a written demand for substantial performance is delivered to the
Employee by the board of directors of the Company (the "Board") which
specifically identifies the manner in which the Board believes that the Employee
has not substantially performed the Employee's duties, or

               (b) the willful engaging by the Employee in conduct which is
demonstrably and materially injurious to the Company or its subsidiaries,
monetarily or otherwise.
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For purposes of this provision, no act or failure to act, on the part of the
Employee, shall be considered "willful" unless it is done, or omitted to be
done, by the Employee in bad faith or without reasonable belief that the
Employee's action or omission was in the best interests of the Company or its
Affiliates.  Any act, or failure to act, based upon authority given pursuant to
a resolution duly adopted by the Board or upon the instructions of a senior
officer of the Company or based upon the advice of counsel for the Company or
its Affiliates shall be conclusively presumed to be done, or omitted to be done,
by the Employee in good faith and in the best interests of the Company or its
Affiliates.  The cessation of employment of the Employee shall not be deemed to
be for Cause unless his action or inaction meets the foregoing standard and
until there shall have been delivered to the Employee a copy of a resolution
duly adopted by the affirmative vote of not less than three-quarters of the
entire membership of the Board at a meeting of the Board called and held for
such purpose (after reasonable notice is provided to the Employee and the
Employee is given an opportunity, together with counsel, to be heard before the
Board), finding that, in the good faith opinion of the Board, the Employee is
guilty of the conduct described in subparagraph (a) or (b) above, and specifying
the particulars thereof in detail.

          1.4  CHANGE OF CONTROL DEFINED.  "Change of Control" shall mean:

               (a) the acquisition by any Person of Beneficial Ownership of 30%
or more of the outstanding shares of the Company's Common Stock, $0.10 par value
per share (the "Common Stock") or 30% or more of the combined voting power of
the Company's then outstanding securities; provided, however, that for purposes
of this subsection (a), the following shall not constitute a Change of Control:

                   (i)  any acquisition (other than a Business Combination which
     constitutes a Change of Control under Section 1.4(c) hereof) of Common
     Stock directly from the Company,

                   (ii)  any acquisition of Common Stock by the Company or its
     subsidiaries,

                   (iii) any acquisition of Common Stock by any employee benefit
     plan (or related trust) sponsored or maintained by the Company or any
     corporation controlled by the Company, or

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                   (iv)   any acquisition of Common Stock by any corporation
     pursuant to a Business Combination which does not constitute a Change of
     Control under Section 1.4(c) hereof; or

               (b) individuals who, as of the Restatement Date, constitute the
Board (the "Incumbent Board") cease for any reason to constitute at least a
majority of the Board; provided, however, that any individual becoming a
director subsequent to the Restatement Date whose election, or nomination for
election by the Company's shareholders, was approved by a vote of at least a
majority of the directors then comprising the Incumbent Board shall be
considered a member of the Incumbent Board, unless such individual's initial
assumption of office occurs as a result of an actual or threatened election
contest with respect to the election or removal of directors or other actual or
threatened solicitation of proxies or consents by or on behalf of a Person other
than the Incumbent Board; or

               (c) consummation of a reorganization, merger or consolidation
(including a merger or consolidation of the Company or any direct or indirect
subsidiary of the Company), or sale or other disposition of all or substantially
all of the assets of the Company (a "Business Combination"), in each case,
unless, immediately following such Business Combination,

                   (i) the individuals and entities who were the Beneficial
     Owners of the Company's outstanding common stock and the Company's voting
     securities entitled to vote generally in the election of directors
     immediately prior to such Business Combination have direct or indirect
     Beneficial Ownership, respectively, of more than 50% of the then
     outstanding shares of common stock, and more than 50% of the combined
     voting power of the then outstanding voting securities entitled to vote
     generally in the election of directors, of the Post-Transaction Corporation
     (as defined in Section 1.10 hereof), and

                   (ii) except to the extent that such ownership existed prior
     to the Business Combination, no Person (excluding the Post-Transaction
     Corporation and any employee benefit plan or related trust of either the
     Company, the Post-Transaction Corporation or any subsidiary of either
     corporation) Beneficially Owns, directly or indirectly, 30% or more of the
     then outstanding shares of common stock of the corporation resulting from
     such Business Combination or 30% or more of the combined voting power of
     the then outstanding voting securities of such corporation, and

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                   (iii) at least a majority of the members of the board of
     directors of the Post-Transaction Corporation were members of the Incumbent
     Board at the time of the execution of the initial agreement, or of the
     action of the Board, providing for such Business Combination; or

               (d) approval by the shareholders of the Company of a complete
liquidation or dissolution of the Company.

          1.5  CODE DEFINED.  "Code" shall mean the Internal Revenue Code of
1986, as amended from time to time.

          1.6  COMPANY DEFINED.  "Company" shall mean Tidewater Inc. (as
heretofore defined), and shall include any successor to or assignee of (whether
direct or indirect, by purchase, merger, consolidation or otherwise) all or
substantially all of the assets and/or business of the Company which assumes and
agrees to perform this Agreement by operation of law, or otherwise.

          1.7  DISABILITY DEFINED.  "Disability" shall mean a condition that
would entitle the Employee to receive benefits under the Company's long-term
disability insurance policy in effect at the time either because he is totally
disabled or partially disabled, as such terms are defined in the Company's
policy in effect as of the Restatement Date or as similar terms are defined in
any successor policy.  If the Company has no long-term disability plan in
effect, "Disability" shall occur if (a) the Employee is rendered incapable
because of physical or mental illness of satisfactorily discharging his duties
and responsibilities to the Company for a period of 90 consecutive days, (b) a
duly qualified physician chosen by the Company and acceptable to the Employee or
his legal representatives so certifies in writing, and (c) the Board determines
that the Employee has become disabled.

          1.8  GOOD REASON DEFINED.  Any act or failure to act by the Company or
its Affiliates specified in this Section 1.8 shall constitute "Good Reason"
unless the Employee shall otherwise agree in writing:

               (a) Any failure of the Company or its Affiliates to provide the
Employee with the position, authority, duties and responsibilities at least
commensurate in all material respects with the most significant of those held,
exercised and assigned at any time during the 120-day period immediately
preceding the Change of Control.  The Employee's position, authority, duties and
responsibilities after a Change of Control shall be considered commensurate in

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all material respects with Employee's position, authority, duties and
responsibilities prior to a Change of Control if after the Change of Control
Employee holds an equivalent position in the Post-Transaction Corporation.

               (b) The assignment to the Employee of any duties inconsistent in
any material respect with Employee's position (including status, offices, titles
and reporting requirements), authority, duties or responsibilities as
contemplated by Section 3.1(b) of this Agreement, or any other action that
results in a diminution in such position, authority, duties or responsibilities,
excluding for this purpose an isolated, insubstantial and inadvertent action not
taken in bad faith that is remedied within 10 days after receipt of written
notice thereof from the Employee to the Company;

               (c) Any failure by the Company or its Affiliates to comply with
any of the provisions of this Agreement, other than an isolated, insubstantial
and inadvertent failure not occurring in bad faith that is remedied within 10
days after receipt of written notice thereof from the Employee to the Company;

               (d) The Company or its Affiliates requiring the Employee to be
based at any office or location other than as provided in Section 3.1(b)(ii)
hereof or requiring the Employee to travel on business to a substantially
greater extent than required immediately prior to the Change of Control;

               (e) Any purported termination of the Employee's employment
otherwise than as expressly permitted by this Agreement; or

               (f) Any failure by the Company to comply with and satisfy
Sections 4.1 (c) and (d) of this Agreement.

          1.9  PERSON DEFINED.  "Person" shall mean a natural person or company,
and shall also mean the group or syndicate created when two or more Persons act
as a syndicate or other group (including, without limitation, a partnership or
limited partnership) for the purpose of acquiring, holding, or disposing of a
security, except that "Person" shall not include an underwriter temporarily
holding a security pursuant to an offering of the security.

          1.1  POST-TRANSACTION CORPORATION DEFINED.  Unless a Change of Control
includes a Business Combination (as defined in Section 1.4(c) hereof), "Post-
Transaction Corporation" shall mean the Company after the Change of Control.  If
a Change of Control includes a Business Combination, "Post-Transaction
Corporation" shall mean the corporation resulting from the Business Combination

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unless, as a result of such Business Combination, an ultimate parent corporation
controls the Company or all or substantially all of the Company's assets either
directly or indirectly, in which case, "Post-Transaction Corporation" shall mean
such ultimate parent corporation.

                                   ARTICLE II
                     STATUS OF CHANGE OF CONTROL AGREEMENTS

     Notwithstanding any provisions thereof, this Agreement supersedes any and
all prior agreements between the Company and the Employee that provide for
severance benefits in the event of a Change of Control of the Company, as
defined therein, and is effective as of the Restatement Date as a complete
amendment and restatement of the Prior Agreement.

                                  ARTICLE III
                           CHANGE OF CONTROL BENEFIT

          3.1  EMPLOYMENT TERM AND CAPACITY AFTER CHANGE OF CONTROL. (a)  This
Agreement shall commence on the Restatement Date and continue in effect through
December 31, 2000; provided, however, that commencing on January 1, 2001 and
each January 1 thereafter, the term of this Agreement shall automatically be
extended for one additional year unless, not later than March 31 of the
preceding year, the Company shall have given notice that it does not wish to
extend this Agreement; provided, further, that notwithstanding any such notice
by the Company not to extend, if a Change of Control of the Company shall have
occurred during the original or extended term of this Agreement, this Agreement
shall continue in effect through the second anniversary of the Change of Control
(such period following a Change of Control being referred to herein as the
"Employment Term"), subject to any earlier termination of Employee's status as
an employee pursuant to this Agreement.

               (b) After a Change of Control and during the Employment Term, (i)
the Employee's position (including status, offices, titles and reporting
requirements), authority, duties and responsibilities shall be at least
commensurate in all material respects with the most significant of those held,
exercised and assigned at any time during the 120-day period immediately
preceding the Change of Control and (ii) the Employee's service shall be
performed during normal business hours at the Company's principal executive
office, at its location at the time of the Change of Control, or the location
where the Employee was employed immediately preceding the Change of Control or
any relocation of the Company's principal executive office to a location that is
not more than 35 miles from such current location. Employee's position,

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authority, duties and responsibilities after a Change of Control shall not be
considered commensurate in all material respects with Employee's position,
authority, duties and responsibilities prior to a Change of Control unless after
the Change of Control Employee holds an equivalent position in the Post-
Transaction Corporation.

          3.2  COMPENSATION AND BENEFITS.  During the Employment Term, Employee
shall be entitled to the following compensation and benefits:

               (a) Base Salary. The Employee shall receive an annual base salary
("Base Salary"), which shall be paid in at least monthly installments. The Base
Salary shall initially be equal to 12 times the highest monthly base salary that
was paid or is payable to the Employee, including any base salary which has been
earned but deferred by the Employee, by the Company and its Affiliates with
respect to any month in the 12-month period ending with the month that
immediately precedes the month in which the Change of Control occurs. During the
Employment Term, the Base Salary shall be reviewed at such time as the Company
undertakes a salary review of his peer executives (but at least annually), and,
to the extent that salary increases are granted to his peer executives of the
Company (or have been granted during the immediately preceding 12-month period
to his peer executives of any Affiliate of the Company), the Employee shall be
granted a salary increase commensurate with any increase granted to his peer
executives of the Company and its Affiliates. Any increase in Base Salary shall
not serve to limit or reduce any other obligation to the Employee under this
Agreement. Base Salary shall not be reduced during the Employment Term (whether
or not any increase in Base Salary occurs) and, if any increase in Base Salary
occurs, the term Base Salary as utilized in this Agreement shall refer to Base
Salary as so increased from time to time.

               (b) Annual Bonus. In addition to Base Salary, the Employee shall
be awarded, for each fiscal year ending during the Employment Term, an annual
bonus (the "Bonus") in cash in an amount at least equal to the average of the
annual bonuses paid to the Employee with respect to the three fiscal years that
immediately precede the year in which the Change of Control occurs under the
Company's annual bonus plan, or any comparable bonus under a successor plan.
Each such Bonus shall be paid no later than the end of the third month of the
fiscal year next following the fiscal year for which the Bonus is awarded,
unless the Employee shall elect to defer the receipt of such Bonus.

               (c) Fringe Benefits.  The Employee shall be entitled to fringe
benefits (including, but not limited to, automobile allowance, reimbursement

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for membership dues, and air travel) commensurate with those provided to his
peer executives of the Company and its Affiliates.

               (d) Expenses.  The Employee shall be entitled to receive prompt
reimbursement for all reasonable expenses incurred by the Employee in accordance
with the most favorable agreements, policies, practices and procedures of the
Company and its Affiliates in effect for the Employee at any time during the
120-day period immediately preceding the Change of Control or, if more favorable
to the Employee, as in effect generally at any time thereafter with respect to
his peer executives of the Company and its Affiliates.

               (e) Incentive, Savings and Retirement Plans. The Employee shall
be entitled to participate in all incentive, savings and retirement plans,
practices, policies and programs applicable generally to his peer executives of
the Company and its Affiliates, but in no event shall such plans, practices,
policies and programs provide the Employee with incentive opportunities
(measured with respect to both regular and special incentive opportunities, to
the extent, if any, that such distinction is applicable), savings opportunities
and retirement benefit opportunities, in each case, less favorable than the most
favorable of those provided by the Company and its Affiliates for the Employee
under any agreements, plans, practices, policies and programs as in effect at
any time during the 120-day period immediately preceding the Change of Control
or, if more favorable to the Employee, those provided generally at any time
after the Change of Control to his peer executives of the Company and its
Affiliates.

               (f) Welfare Benefit Plans. The Employee and/or the Employee's
family, as the case may be, shall be eligible for participation in and shall
receive all benefits under welfare benefit plans, practices, policies and
programs provided by the Company and its Affiliates (including, without
limitation, medical, prescription drug, dental, disability, employee life, group
life, accidental death and travel accident insurance plans and programs) to the
extent applicable generally to his peer executives of the Company and its
Affiliates, but in no event shall such plans, practices, policies and programs
provide the Employee with benefits, in each case, less favorable than the most
favorable of any agreements, plans, practices, policies and programs in effect
for the Employee at any time during the 120-day period immediately preceding the
Change of Control or, if more favorable to the Employee, those provided
generally at any time after the Change of Control to his peer executives of the
Company and its Affiliates.

               (g) Office and Support Staff. The Employee shall be entitled to
an office or offices of a size and with furnishings and other appointments,

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and to secretarial and other assistance, commensurate with those provided to his
peer executives of the Company and its Affiliates.

               (h) Vacation.  The Employee shall be entitled to paid vacation in
accordance with the most favorable agreements, plans, policies, programs and
practices of the Company and its Affiliates as in effect for the Employee at any
time during the 120-day period immediately preceding the Change of Control or,
if more favorable to the Employee, as in effect generally at any time thereafter
with respect to his peer executives of the Company and its Affiliates.

               (i) Indemnification. If in connection with any agreement related
to a transaction that will result in a Change of Control of the Company, an
undertaking is made to provide the Board of Directors with rights to
indemnification from the Company (or from any other party to such agreement),
the Employee shall, by virtue of this Agreement, be entitled to the same rights
to indemnification as are provided to the Board of Directors pursuant to such
agreement. Otherwise, the Employee shall be entitled to indemnification rights
on terms no less favorable to Employee than those available under the
Certificate of Incorporation, bylaws or resolutions of the Company at any time
after the Change of Control to his peer executives of the Company. Such
indemnification rights shall be with respect to all claims, actions, suits or
proceedings to which the Employee is or is threatened to be made a party that
arise out of or are connected to his services at any time prior to the
termination of his employment, without regard to whether such claims, actions,
suits or proceedings are made, asserted or arise during or after the Employment
Term.

               (j) Directors and Officers Insurance.  If in connection with any
agreement related to a transaction that will result in a Change of Control of
the Company, an undertaking is made to provide the Board of Directors of the
Company with continued coverage following the Change of Control under one or
more directors and officers liability insurance policies, then the Employee
shall, by virtue of this Agreement, be entitled to the same rights to continued
coverage under such directors and officers liability insurance policies as are
provided to the Board of Directors.  Otherwise, the Company shall agree to cover
Employee under any directors and officers liability insurance policies as are
provided generally at any time after the Change of Control to his peer
executives of the Company.

          3.3  OBLIGATIONS UPON TERMINATION AFTER A CHANGE OF CONTROL.

               (a) Termination by Company for Reasons other than Death,
Disability or Cause or by Employee for Good Reason. If, after a Change of
Control and during the Employment Term, the Company terminates the Employee's

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employment other than for Cause, death or Disability, or the Employee terminates
employment for Good Reason, subject to Section 3.6,

                   (i) the Company shall pay to the Employee in a lump sum in
     cash within five business days of the date of termination an amount equal
     to three times the sum of (i) the amount of Base Salary in effect pursuant
     to Section 3.2(a) hereof at the date of termination, plus (ii) the greater
     of (x) the average of the annual bonuses paid or to be paid to the Employee
     with respect to the immediately preceding three fiscal years or (y) the
     target Bonus for which the Employee is eligible for the fiscal year in
     which the date of termination occurs, as such target bonus has been
     established by the Company for such year; provided, however, that, if the
     Employee has in effect a deferral election with respect to any percentage
     of the annual bonus which would otherwise become payable with respect to
     the fiscal year in which termination occurs, such lump sum payment shall be
     reduced by an amount equal to such percentage times the bonus component of
     the lump sum payment (which reduction amount shall be deferred in
     accordance with such election);

                   (ii) the Company shall pay to the Employee in a lump sum in
     cash within five business days of the date of termination an amount
     calculated by multiplying the annual bonus that the Employee would have
     earned with respect to the entire fiscal year in which termination occurs,
     assuming the achievement at the target level of the objective performance
     goals established with respect to such bonus and the elimination of any
     subjective performance goals or evaluations otherwise applicable with
     respect to such bonus, by the fraction obtained by dividing the number of
     days in such year through the date of termination by 365; provided,
     however, that, if the Employee has in effect a deferral election with
     respect to any percentage of the annual bonus which would otherwise become
     payable with respect to the fiscal year in which termination occurs, such
     lump sum payment shall be reduced by an amount equal to such percentage
     times the lump sum payment (which reduction amount shall be deferred in
     accordance with such election);

                   (iii) if, at the date of termination, the Company shall not
     yet have paid to the Employee (or deferred in accordance with any effective
     deferral election by the Employee) an annual bonus with respect to a
     completed fiscal year, the Company shall pay

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     to the Employee in a lump sum in cash within five business days of the date
     of termination an amount determined as follows: (i) if the Compensation
     Committee of the Board shall have already determined the amount of such
     annual bonus, the greater of such amount or the amount provided under
     Section 3.2(b) hereof shall be paid, and (ii) if the Compensation Committee
     shall not have already determined the amount of such annual bonus, the
     amount to be paid shall be the greater of the amount provided under Section
     3.2(b) hereof or the annual bonus that the Employee would have earned with
     respect to such completed fiscal year, based solely upon the level of
     achievement of the objective performance goals established with respect to
     such bonus and the elimination of any subjective performance goals or
     evaluations otherwise applicable with respect to such bonus; provided,
     however, that, if the Employee has in effect a deferral election with
     respect to any percentage of the annual bonus which would otherwise become
     payable with respect to such completed fiscal year, such lump sum payment
     shall be reduced by an amount equal to such percentage times the lump sum
     payment (which reduction amount shall be deferred in accordance with such
     election);

                   (iv) for a period of thirty-six (36) months following the
     date of termination of employment (the "Continuation Period"), the Company
     shall at its expense continue on behalf of the Employee and his dependents
     and beneficiaries the life insurance, disability, medical, dental and
     hospitalization benefits (including any benefit under any individual
     benefit arrangement that covers medical, dental or hospitalization expenses
     not otherwise covered under any general Company plan) provided (x) to the
     Employee at any time during the 120-day period prior to the Change in
     Control or at any time thereafter or (y) to other similarly situated
     executives who continue in the employ of the Company during the
     Continuation Period. The coverage and benefits (including deductibles and
     costs) provided in this Section 3.3(a)(iv) during the Continuation Period
     shall be no less favorable to the Employee and his dependents and
     beneficiaries, than the most favorable of such coverages and benefits
     during any of the periods referred to in clauses (x) or (y) above ;
     provided, however, in the event of the disability of the Employee during
     the Continuation Period, disability benefits shall not be paid for the
     Continuation Period but shall instead commence immediately following the
     end of the Continuation Period. In addition, if Employee has reached age 52
     and has completed seven years of

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     service at the time of a Change of Control, Employee shall automatically
     become vested in the post-retirement benefits provided under the Tidewater
     Group Welfare Benefits Plan (the "GWB Plan") and be entitled to receive,
     following termination of employment with the Company, all benefits that
     would be payable to Employee under the GWB Plan or any successor plan of
     the Company or its Affiliates had the Employee retired from employment with
     the Company or one of its Affiliates on the later of the third anniversary
     of the Change of Control or the Employee's date of retirement (as defined
     in the GWB Plan) from employment with the Company. The Company's obligation
     hereunder with respect to the foregoing benefits shall be limited to the
     extent that the Employee obtains any such benefits pursuant to a subsequent
     employer's benefit plans, in which case the Company may reduce the coverage
     of any benefits it is required to provide the Employee hereunder as long as
     the aggregate coverages and benefits of the combined benefit plans is no
     less favorable to the Employee than the coverages and benefits required to
     be provided hereunder. The Employee will be eligible for coverage under the
     Consolidated Omnibus Budget Reconciliation Act ("COBRA") at the end of the
     Continuation Period or earlier cessation of the Company's obligation under
     the foregoing provisions of this Section 3.3(a)(iv) (or, if the Employee
     shall not be so eligible for any reason, the Company will provide
     equivalent coverage). Exhibit A hereto provides an informational overview
     of COBRA-required coverage as it exists immediately prior to the execution
     of the Agreement and is not to be considered part of the Agreement; the
     actual coverage to be provided pursuant to this Section 3.3(a)(iv) will be
     the COBRA-required coverage at the time this provision becomes effective;

                   (v) the Employee shall immediately become fully (100%) vested
     in his benefit (as such benefit may be increased pursuant to Sections
     3.3(a) (vii) and 3.3(a)(viii) hereof) under each supplemental or excess
     retirement plan of the Company in which the Employee was a participant,
     including, but not limited to the Tidewater Inc. Supplemental Executive
     Retirement Plan (the "SERP") , the Supplemental Savings Plan and any
     successor plans (collectively, the "Supplemental Plans");

                   (vi) if, prior to the Change of Control, in a form and manner
     reasonably satisfactory to the Company, the Employee shall have elected
     that his benefits under the Supplemental Plans

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     be paid in a lump sum in cash within five business days of the date of any
     termination of his employment described in this Section 3.3(a), such
     benefits (as such benefits may be increased pursuant to Sections 3.3(a)
     (vii) and 3.3(a)(viii) hereof) shall be so paid, notwithstanding the
     payment provisions of the Supplemental Plans and any payment or
     distribution elections made by the Employee prior to such lump sum
     election;

                   (vii) the Company shall contribute to the Tidewater Inc.
     Executives' Supplemental Retirement Trust between the Company and Hibernia
     National Bank, as amended and restated effective January 1, 1993, and
     subsequently amended, for the Employee's account in cash within five
     business days of the date of termination of employment an amount equal to
     the then present value of the actuarial equivalent of the additional
     benefits, if any, to which the Employee would be entitled under the
     Tidewater Inc. Pension Plan, the SERP and any other qualified or non-
     qualified defined benefit plan maintained by the Company and covering the
     Employee, regardless of the vesting requirements thereof, after giving the
     Employee, for purposes of calculating the benefits due Employee under such
     plans, (a) full service credit for a three-year period following the Change
     of Control and (b) compensation credit for each of such three years, with
     the compensation for each year being calculated by dividing the amount that
     the Employee will be entitled to receive under Section 3.3(a)(i) hereof by
     three; notwithstanding any SERP provision regarding accrual of benefits,
     such additional benefits shall be treated for all purposes as increasing
     the benefit of the Employee under the SERP and payment of the increased
     benefit shall be governed by the terms of the SERP, unless the Employee has
     made an effective election for a lump sum payment in accordance with
     Section 3.3(a)(vi) hereof or an effective payment election at the time of
     execution of the Prior Agreement with respect to such additional benefits;

                   (vii) the Company shall contribute to the trust under the
     Merrill Lynch Non-Qualified Deferred Compensation Plan Trust Agreement
     between the Company and Merrill Lynch Trust Company of America made June
     26, 1997, as subsequently amended, for the Employee's account in cash
     within five business days of the date of termination of employment an
     amount equal to the amount of employer contributions that would have been

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     made on the Employee's behalf if the Employee had continued to participate
     in the Company's Savings Plan, the Company's Supplemental Savings Plan and
     any other qualified or non-qualified defined contribution plan maintained
     by the Company until the third anniversary of the Change of Control. Such
     contribution shall, in the case of a qualified plan, be calculated as if
     the Employee were fully vested and participating to the maximum extent
     permitted by such plan and, in the case of a non-qualified plan, be
     calculated on the same basis as the Employee was participating in such
     plans and, in all cases, be calculated on the basis of the Employee's Base
     Salary (determined in accordance with Section 3.2(a) hereof) at the time of
     the Change of Control or at the date of termination, whichever is greater;
     notwithstanding any Supplemental Savings Plan provision regarding accrual
     of benefits, such contribution shall be treated for all purposes as
     increasing the benefit of the Employee under the Supplemental Savings Plan
     and payment of the increased benefit shall be governed by the terms of the
     Supplemental Savings Plan, unless the Employee has made an effective
     election for a lump sum payment in accordance with Section 3.3(a)(vi)
     hereof or an effective payment election at the time of execution of the
     Prior Agreement with respect to such contribution; and

                  (ix)  to the extent that Employee is not fully vested in his
     accrued benefits under the Pension Plan, the Savings Plan or any other
     qualified plan maintained by the Company, at the time of termination of
     employment, the Company shall contribute to the trust for the Supplemental
     Plan that supplements the respective qualified plan, within five business
     days of the date of termination of employment, an amount in cash equal to
     the unvested but accrued benefits under such plans (calculated as the
     present value of the actuarial equivalent thereof in the case of any
     qualified defined benefit plan) as of the date of termination of
     employment; notwithstanding the provisions of any qualified plan or
     Supplemental Plan regarding accrual of benefits, such contribution shall be
     treated for all purposes as increasing the benefit of the Employee under
     the Supplemental Plan which supplements the respective qualified plan, and
     payment of the increased benefit shall be governed by the terms of such
     Supplemental Plan, unless the Employee has made an effective election for a
     lump sum payment in accordance with Section 3.3(a)(vi) hereof or an
     effective payment election at the time of execution of the Prior Agreement
     with respect to such contribution.

                                       14
<PAGE>

The payments and benefits provided in this Section 3.3(a) and under all of the
Company's employee benefit and compensation plans shall be without regard to any
amendment made after any Change of Control to any such plan, which amendment
adversely affects in any manner the computation of payments and benefits due the
Employee under such plan or the time or manner of payment of such payments and
benefits .  After a Change of Control no discretionary power of the Board or any
committee thereof shall be used in a way (and no ambiguity in any such plan
shall be construed in a way) which adversely affects in any manner any right or
benefit of the Employee under any such plan.

               (b) Death. If, after a Change of Control and during the
Employment Term, the Employee's status as an employee is terminated by reason of
the Employee's death, this Agreement shall terminate without further obligation
to the Employee's legal representatives (other than those already accrued to the
Employee), other than the obligation to make any payments due pursuant to
employee benefit or compensation plans maintained by the Company or its
Affiliates.

               (c) Disability.  If, after a Change of Control and during the
Employment Term, the Employee's status as an employee is terminated by reason of
Employee's Disability, this Agreement shall terminate without further obligation
to the Employee (other than those already accrued to the Employee), other than
the obligation to make any payments due pursuant to employee benefit or
compensation plans maintained by the Company or its Affiliates.

               (d) Cause. If, after a Change of Control and during the
Employment Term, the Employee's status as an employee is terminated by the
Company for Cause, this Agreement shall terminate without further obligation to
the Employee other than for obligations imposed by law and obligations imposed
pursuant to any employee benefit or compensation plan maintained by the Company
or its Affiliates.

               (e) Voluntary Termination. If, after a Change of Control and
during the Employment Term, the Employee voluntarily terminates his employment
with the Company other than for Good Reason, this Agreement shall terminate
without further obligation to the Employee other than for obligations imposed by
law and obligations imposed pursuant to any employee benefit or compensation
plan maintained by the Company or its Affiliates.

                                       15
<PAGE>

          3.4  ACCRUED OBLIGATIONS AND OTHER BENEFITS.  It is the intent of this
Agreement that upon termination of employment for any reason following a Change
of Control the Employee be entitled to receive promptly, and in addition to any
other benefits specifically provided, (a) the Employee's Base Salary through the
date of termination to the extent not theretofore paid, (b) any accrued vacation
pay, to the extent not theretofore paid, and (c) any other amounts or benefits
required to be paid or provided or which the Employee is entitled to receive
under any plan, program, policy, practice or agreement of the Company.

          3.5  STOCK OPTIONS AND RESTRICTED STOCK.  The foregoing benefits are
intended to be in addition to the value of any options to acquire Common Stock
of the Company or restricted stock the exercisability or vesting of which is
accelerated pursuant to the terms of any stock option, incentive or other
similar plan heretofore or hereafter adopted by the Company.

          3.6  EXCISE TAX PROVISION.  (a)  Notwithstanding any other provisions
of this Agreement, if a Change of Control occurs during the original or extended
term of this Agreement, in the event that any payment or benefit received or to
be received by the Employee in connection with the Change of Control or the
termination of the Employee's employment (whether pursuant to the terms of this
Agreement or any other plan, arrangement or agreement with the Company, any
Person whose actions result in the Change of Control or any Person Affiliated
with the Company or such Person) (all such payments and benefits, including the
payments and benefits under Section 3.3(a) hereof, being hereinafter called
"Total Payments") would be subject (in whole or in part), to an excise tax
imposed by section 4999 of the Code (the "Excise Tax"), then, after taking into
account any reduction in the Total Payments provided by reason of section 280G
of the Code in such other plan, arrangement or agreement, the cash payments
under Section 3.3(a) hereof shall first be reduced, and the noncash payments and
benefits under Sections 3.3(a) and 3.9 hereof shall thereafter be reduced, to
the extent necessary so that no portion of the Total Payments is subject to the
Excise Tax but only if (A) the net amount of such Total Payments, as so reduced
(and after subtracting the net amount of federal, state and local income and
employment taxes on such reduced Total Payments) is greater than or equal to (B)
the net amount of such Total Payments without such reduction (but after
subtracting the net amount of federal, state and local income and employment
taxes on such Total Payments and the amount of Excise Tax to which the Employee
would be subject in respect of such unreduced Total Payments); provided,
however, that the Employee may elect to have the noncash payments and benefits
under Sections 3.3(a) and 3.9 hereof reduced (or eliminated) prior to any
reduction of the cash payments under Section 3.3(a) hereof.

                                       16
<PAGE>

               (b) For purposes of determining whether and the extent to which
the Total Payments will be subject to the Excise Tax, (i) no portion of the
Total Payments the receipt or enjoyment of which the Employee shall have waived
at such time and in such manner as not to constitute a "payment" within the
meaning of section 280G(b) of the Code shall be taken into account, (ii) no
portion of the Total Payments shall be taken into account which, in the opinion
of tax counsel ("Tax Counsel") reasonably acceptable to the Employee and
selected by the accounting firm (the "Auditor") which was, immediately prior to
the Change of Control, the Company's independent auditor, does not constitute a
"parachute payment" within the meaning of section 280G(b)(2) of the Code
(including by reason of section 280G(b)(4)(A) of the Code) and, in calculating
the Excise Tax, no portion of such Total Payments shall be taken into account
which, in the opinion of Tax Counsel, constitutes reasonable compensation for
services actually rendered, within the meaning of section 280G(b)(4)(B) of the
Code, in excess of the "Base Amount" (within the meaning set forth in section
280G(b)(3) of the Code) allocable to such reasonable compensation, and (iii) the
value of any non-cash benefit or any deferred payment or benefit included in the
Total Payments shall be determined by the Auditor in accordance with the
principles of sections 280G(d)(3) and (4) of the Code.

               (c)  At the time that payments are made under this Agreement, the
Company shall provide the Employee with a written statement setting forth the
manner in which such payments were calculated and the basis for such
calculations including, without limitation, any opinions or other advice the
Company has received from Tax Counsel, the Auditor or other advisors or
consultants (and any such opinions or advice which are in writing shall be
attached to the statement).

          3.7  LEGAL FEES.  The Company agrees to pay as incurred, to the full
extent permitted by law, all legal fees and expenses which the Employee may
reasonably incur as a result of any contest (regardless of the outcome thereof)
by the Company, the Employee or others of the validity or enforceability of, or
liability under, any provision of this Agreement (including as a result of any
contest by the Employee about the amount or timing of any payment pursuant to
this Agreement) or which the Employee may reasonably incur in connection with
any tax audit or proceeding to the extent attributable to the application of
section 4999 of the Code to any payment or benefit provided under this
Agreement.

                                       17
<PAGE>

          3.8  SET-OFF; MITIGATION.  After a Change of Control, the Company's
and its Affiliates' obligations to make the payments provided for in this
Agreement and otherwise to perform its obligations hereunder shall not be
affected by any set-off, counterclaim, recoupment, defense or other claim, right
or action which the Company or its Affiliates may have against the Employee or
others; except that to the extent the Employee accepts other employment in
connection with which he is provided health insurance benefits, the Company
shall only be required to provide health insurance benefits to the extent the
benefits provided by the Employee's employer are less favorable than the
benefits to which he would otherwise be entitled hereunder.  It is the intent of
this Agreement that in no event shall the Employee be obligated to seek other
employment or take any other action by way of mitigation of the amounts payable
to the Employee under any of the provisions of this Agreement.

          3.9  OUTPLACEMENT ASSISTANCE.  Upon any termination of employment of
the Employee other than for Cause within three years following a Change of
Control, the Company shall provide to the Employee outplacement assistance by a
reputable firm specializing in such services for the period beginning with the
termination of employment and ending three years following the Change of
Control.

          3.10  CERTAIN PRE-CHANGE-OF-CONTROL TERMINATIONS. Notwithstanding any
other provision of this Agreement, the Employee's employment shall be deemed to
have been terminated following a Change of Control by the Company without Cause
or by the Employee with Good Reason, if (i) the Employee's employment is
terminated by the Company without Cause prior to a Change of Control (whether or
not a Change of Control actually occurs) and such termination was at the request
or direction of a Person who has entered into an agreement with the Company the
consummation of which would constitute a Change of Control, (ii) the Employee
terminates his employment for Good Reason prior to a Change of Control (whether
or not a Change of Control actually occurs) and the act, circumstance or event
which constitutes Good Reason occurs at the request or direction of such Person,
or (iii) the Employee's employment is terminated by the Company without Cause or
by the Employee for Good Reason and such termination or the act, circumstance or
event which constitutes Good Reason is otherwise in connection with or in
anticipation of a Change of Control and occurred after discussions with such
Person regarding a possible Change-of-Control transaction commenced and such
discussions produced (whether before or after such termination) either a letter
of intent with respect to such a transaction or a public announcement of the
pending transaction (whether or not a Change of Control actually occurs).  For
purposes of any determination regarding the applicability of the immediately

                                       18
<PAGE>

preceding sentence, if the Employee takes the position that such sentence
applies and the Company disagrees, the Company shall have the burden of proof in
any such dispute.

                                   ARTICLE IV
                                 MISCELLANEOUS

          4.1  BINDING EFFECT; SUCCESSORS.

               (a) This Agreement shall be binding upon and inure to the benefit
of the Company and any of its successors or assigns.

               (b) This Agreement is personal to the Employee and shall not be
assignable by the Employee without the consent of the Company (there being no
obligation to give such consent) other than such rights or benefits as are
transferred by will or the laws of descent and distribution.

               (c) The Company shall require any successor to or assignee of
(whether direct or indirect, by purchase, merger, consolidation or otherwise)
all or substantially all of the assets or businesses of the Company (i) to
assume unconditionally and expressly this Agreement and (ii) to agree to perform
or to cause to be performed all of the obligations under this Agreement in the
same manner and to the same extent as would have been required of the Company
had no assignment or succession occurred, such assumption to be set forth in a
writing reasonably satisfactory to the Employee.

               (d) The Company shall also require all entities that control or
that after the transaction will control (directly or indirectly) the Company or
any such successor or assignee to agree to cause to be performed all of the
obligations under this Agreement, such agreement to be set forth in a writing
reasonably satisfactory to the Employee.

               (e) The obligations of the Company and the Employee which by
their nature may require either partial or total performance after the
expiration of the term of the Agreement shall survive such expiration.

          4.2  NOTICES.  All notices hereunder must be in writing and shall be
deemed to have been given upon receipt of delivery by: (a) hand (against a
receipt therefor), (b) certified or registered mail, postage prepaid, return
receipt requested, (c) a nationally recognized overnight courier service
(against a receipt therefor) or

                                       19
<PAGE>

(d) telecopy transmission with confirmation of receipt. All such notices must be
addressed as follows:

          If to the Company, to:

          Tidewater Inc.
          Pan-American Life Center
          601 Poydras Street, Suite 1900
          New Orleans, Louisiana 70130

          Attn: Cliffe F. Laborde

          If to the Employee, to:

          [               ]
          Tidewater Inc.
          Pan-American Life Center
          601 Poydras Street, Suite 1900
          New Orleans, Louisiana 70130

or such other address as to which any party hereto may have notified the other
in writing.

          4.3  GOVERNING LAW.  This Agreement shall be construed and enforced in
accordance with and governed by the internal laws of the State of Louisiana
without regard to principles of conflict of laws.

          4.4  WITHHOLDING.  The Employee agrees that the Company has the right
to withhold, from the amounts payable pursuant to this Agreement, all amounts
required to be withheld under applicable income and/or employment tax laws, or
as otherwise stated in documents granting rights that are affected by this
Agreement.

          4.5  AMENDMENT, WAIVER.  No provision of this Agreement may be
modified, amended or waived except by an instrument in writing signed by both
parties.

                                       20
<PAGE>

          4.6  SEVERABILITY.  If any term or provision of this Agreement, or the
application thereof to any person or circumstance, shall at any time or to any
extent be invalid, illegal or unenforceable in any respect as written, Employee
and the Company intend for any court construing this Agreement to modify or
limit such provision so as to render it valid and enforceable to the fullest
extent allowed by law. Any such provision that is not susceptible of such
reformation shall be ignored so as to not affect any other term or provision
hereof, and the remainder of this Agreement, or the application of such term or
provision to persons or circumstances other than those as to which it is held
invalid, illegal or unenforceable, shall not be affected thereby and each term
and provision of this Agreement shall be valid and enforced to the fullest
extent permitted by law.

          4.7  WAIVER OF BREACH.  The waiver by either party of a breach of any
provision of this Agreement shall not operate or be construed as a waiver of any
subsequent breach thereof.

          4.8  REMEDIES NOT EXCLUSIVE.  No remedy specified herein shall be
deemed to be such party's exclusive remedy, and accordingly, in addition to all
of the rights and remedies provided for in this Agreement, the parties shall
have all other rights and remedies provided to them by applicable law, rule or
regulation.

          4.9  COMPANY'S RESERVATION OF RIGHTS.  Employee acknowledges and
understands that the Employee serves at the pleasure of the Board and that the
Company has the right at any time to terminate Employee's status as an employee
of the Company, or to change or diminish his status during the Employment Term,
subject to the rights of the Employee to claim the benefits conferred by this
Agreement.

          4.10  COUNTERPARTS.  This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original but all of which
together shall constitute one and the same instrument.

                                       21
<PAGE>

     IN WITNESS WHEREOF, the Company and the Employee have caused this Agreement
to be executed as of the Restatement Date.

                                 TIDEWATER INC.

                                 By:____________________________
                                       William C. O'Malley
                                      Chairman of the Board,
                              President and Chief Executive Officer

                                 EMPLOYEE:

                                 -----------------------------------
                                        [                    ]

                                       22<PAGE>

                                                                   EXHIBIT 10(d)

                                   TIDEWATER

                          SECOND AMENDED AND RESTATED
                      EMPLOYEES' SUPPLEMENTAL SAVINGS PLAN

                           Effective October 1, 1999
<PAGE>

                                TIDEWATER INC.

                          SECOND AMENDED AND RESTATED
                      EMPLOYEES' SUPPLEMENTAL SAVINGS PLAN

                               TABLE OF CONTENTS

PREAMBLE ..........................................................  1

ARTICLE 1:  PURPOSE AND DEFINITIONS ...............................  1

ARTICLE 2:  ELIGIBILITY ...........................................  3

ARTICLE 3:  DEFERRED COMPENSATION AMOUNTS .........................  3

ARTICLE 4:  ACCOUNTING ............................................  4

ARTICLE 5:  PLAN ADMINISTRATION ...................................  5

ARTICLE 6:  DISTRIBUTIONS .........................................  5

ARTICLE 7:  VESTING ...............................................  7

ARTICLE 8:  NATURE OF AGREEMENT ...................................  7

ARTICLE 9:  RESTRICTIONS ON ASSIGNMENT ............................  7

ARTICLE 10:  DEMAND FOR BENEFITS ..................................  8

ARTICLE 11:  AMENDMENT AND TERMINATION ............................  8

ARTICLE 12:  MISCELLANEOUS ........................................  9

ARTICLE 13:  CHANGE OF CONTROL .................................... 10

                                      -i-
<PAGE>

                                TIDEWATER INC.

                          SECOND AMENDED AND RESTATED
                      EMPLOYEES' SUPPLEMENTAL SAVINGS PLAN

                                    PREAMBLE

     WHEREAS, Tidewater Inc., a Delaware corporation (the "Company") maintains
the Tidewater Employees' Supplemental Savings Plan (the "Plan"), the provisions
of which are at present expressed in a plan document effective October 30, 1987,
and amendments thereto effective January 1, 1993, January 1, 1995, October 1,
1997 and October 1, 1999; and

     WHEREAS, the Board of Directors has authorized the restatement of the Plan,
as amended;

     NOW THEREFORE, the Plan is hereby restated to read in its entirety as
follows:

                      ARTICLE 1:  PURPOSE AND DEFINITIONS

          a.   Definitions

               i.   The term "Savings Plan" refers to the Tidewater 401(k)
Savings Plan.

               ii.  The term "Salary Deferral Contributions" refers to
contributions made pursuant to the Savings Plan by reduction of employees'
Compensation.

               iii  The term "Employer Contributions" refers to contributions
under the Savings Plan made by the Company to match employees' Salary Deferral
Contributions.

               iv.  The term "Compensation" shall have the same meaning as it
has in the Savings Plan except that the limitations imposed by Section
401(a)(17) of the Code shall not be applicable.

               v.   All terms used in this Plan shall have the meanings assigned
to them under the provisions of the Savings Plan, unless otherwise defined
herein or qualified by the context.

               vi.  The term "Valuation Date" shall mean the close of each
Business Day.  For this purpose, the term Business Day shall mean any day during
which the New York Stock Exchange is open to engage in stock transactions.
<PAGE>

               vii  The term "Distribution Date" shall mean the date on which a
lump sum distribution is made or the date that installment payments of a
distribution begin, which shall be as soon as administratively possible (but in
no case more than 60 days) following the Selected Date, or if no Selected Date
is chosen or in the case of death, the Termination Date.

               viii The term "Termination Date" shall mean the date the
Participant terminates employment.

               ix.  The term "Selected Date" shall mean the date selected in a
Salary Deferral Agreement, or an amendment thereto, for a distribution under the
Plan to begin; provided that in the event of the death of the Participant,
commencement of a distribution shall be accelerated to the date of death and
made as provided in the Participant's Designation of Beneficiary form.

               x.   The term "Death Beneficiary" shall mean the recipient of any
proceeds under the Plan in conjunction with the death of a Participant and shall
be (i) the person or persons designated by the Participant on a form provided by
the Committee, or (ii) in the absence of a designated Death Beneficiary, the
Participant's estate.

          b.   Because of the limitations contained in Sections 401(a)(17),
401(k), 401(m) and 402(g) of the Code (the "Limitations"), some Company
employees participating in the Savings Plan can make only a portion of the
Salary Deferral Contributions that the Savings Plan would allow but for such
Limitations.

          c.   The Company also desires to provide for a mechanism for certain
employees of the Company to defer all or a portion of their annual incentive
bonus ("Annual Bonus").

          d.   The purposes of this Plan are (i) to provide a mechanism for
certain employees of the Company to defer the portion of their Compensation
which cannot be deferred because of the Limitations, (ii) to provide for an
employer contribution matching such supplemental deferrals under the Plan, (iii)
to provide a mechanism to defer a portion of such employees' Annual Bonus and
(iv) to establish a non-qualified trust (the "Trust") to provide a means for
funding the benefits of the Participants under the Plan, under which Company and
its creditors retain such rights as to defer the taxation of all benefits until
actually received by the Participants and\or their Death Beneficiaries.

          e.   The Plan as amended and restated shall be effective October 1,
1999.

          f.   Since the Plan (other than the Annual Bonus deferral) is intended
to supplement the Savings Plan, any ambiguities or gaps in this Plan shall be
resolved by reference to the Savings Plan document, as amended, but only if
consistent with the purposes set forth in Paragraph 1.d.

          g.   The Plan shall cover employees of the Company meeting the
eligibility criteria set forth in Article 2.

                                      -2-
<PAGE>

                            ARTICLE 2:  ELIGIBILITY

     Every Member in the Savings Plan who is the Chief Executive Officer,
President, Chief Financial Officer, a Vice President or the Corporate Controller
of the Company or who is otherwise designated as eligible to participate by the
Compensation Committee of the Board of Directors of the Company shall be
eligible to participate in this Plan at such time as, and only so long as, his
projected Compensation for the calendar year when multiplied by the Deferral
Percentage exceeds the limitation under Section 402(g) of the Code for the year
or all or a portion of such Member's Salary Deferral Contribution or Employer
Contribution is returned from the Savings Plan or forfeited as a result of
Section 401(k)(8) of the Code or Section 401(m) of the Code (an "Eligible
Employee"). Participation can commence as of any Entry Date following that
determination.  The "Deferral Percentage" is the percentage of Compensation an
Eligible Employee elects to defer in his Supplemental Salary Deferral Agreement.

                   ARTICLE 3:  DEFERRED COMPENSATION AMOUNTS

          a.   Supplemental Deferrals.  An Eligible Employee can enter into a
Supplemental Salary Deferral Agreement with the Company under which the Eligible
Employee elects to reduce his Compensation by an amount ("Supplemental Salary
Deferral") that is retained by the Company in a "Supplemental Salary Deferral
Account" for the Eligible Employee.  An Eligible Employee who enters  into such
an agreement is referred to as a "Participant."  Supplemental Salary Deferrals
shall be effective only for calendar years in which such Participant's Salary
Deferral Contributions reach the limitation set by Internal Revenue Code Section
402(g) or for years in which all or a portion of a Participant's Salary Deferral
Contribution or Employer Contribution is returned from the Savings Plan or
forfeited as a result of Section 401(k)(8) of the Code or Section 401(m) of the
Code.  The Deferral Percentage for a Supplemental Salary Deferral can be any
whole percentage of Compensation between 2 percent and 15 percent.

          The Supplemental Salary Deferral Agreement may also contain an
election to defer an amount of Compensation equal to (i) such Participant's
Salary Deferral Contribution to the Savings Plan which is returned pursuant to
Section 401(k)(8) of the Code and (ii) such Participant's Employer Contribution
to the Savings Plan which is to be distributed to Participant as a result of
Section 401(k)(8) or Section 401(m) of the Code. The amount referred to in (i)
shall be credited to Participant's Supplemental Salary Deferral Account.  The
amount referred to in (ii) shall be credited to Participant's Matching
Contribution Account.

          Deferrals (other than those described in Paragraph 3(c)) under the
Supplemental Salary Deferral Agreement shall first be applied to the Savings
Plan to the extent of the Limitations.

          b.   Matching Contributions.  For each dollar of Supplemental Salary
Deferral contributed under the Plan pursuant to the Participant's Supplemental
Salary Deferral Agreement, the Company shall deem set aside an amount ("Matching
Contribution") equal to the amount of Employer Contribution that would have been
made

                                      -3-
<PAGE>

under the Savings Plan if the Supplemental Salary Deferral had been a
Salary Deferral Contribution.  The Matching Contribution when combined with the
matching contribution provided in Section 4.04 of the Savings Plan shall not
exceed three percent of Compensation.  If an Employer Contribution to the
Savings Plan on behalf of a Participant is forfeited pursuant to Section
401(k)(8) or Section 401(m) of the Code, such amount shall be deemed a Matching
Contribution under the Plan to the extent such Participant has so provided in
his Supplemental Salary Deferral Agreement.  A Matching Contribution shall not
be required to the extent a returned or forfeited Employer Contribution is
otherwise deemed credited to a Participant.

          c.   Annual Bonus.  The Supplemental Salary Deferral Agreement may
also contain an election to defer all or part of an Eligible Employee's Annual
Bonus ("Bonus Deferral").  The Bonus Deferral shall be in whole percentages of
either 25 percent, 50 percent, 75 percent or 100 percent.  The portion of each
Participant's Annual Bonus deferred pursuant to a Supplemental Salary Deferral
Agreement shall be credited to such Participant's Supplemental Salary Deferral
Account.

          d.   Execution of Supplemental Salary Deferral Agreement.  A
Supplemental Salary Deferral Agreement shall be executed prior to the beginning
of the calendar year to which the agreement relates (except that with respect to
the first year an employee becomes an Eligible Employee he may enter into a
Supplemental Salary Deferral Agreement within 30 days of becoming an Eligible
Employee for Compensation for services performed subsequent to execution of such
Agreement) and shall be effective only for the calendar year to which it
relates.  Once executed and delivered to the Company, the deferrals and
elections set forth in the Supplemental Salary Deferral Agreement can be changed
or modified only as provided in Article 6(a).

     Supplemental Salary Deferral Agreements shall be automatically revoked as
of any date on which their implementation would disqualify the Savings Plan.

     No Supplemental Salary Deferrals shall occur after a Participant is no
longer an Eligible Employee.

                             ARTICLE 4:  ACCOUNTING

          a.   Establishment of Accounts.  The Committee shall establish  and
maintain a separate Supplemental Salary Deferral Account and Matching
Contribution Account for each Participant.  A Participant's Supplemental Salary
Deferral Account shall be credited with the Participant's Supplemental Salary
Deferrals, Bonus Deferrals and earnings thereon, and a Participant's Matching
Contribution Account shall be credited with the Participant's Matching
Contribution and the earnings thereon.  The accounts shall be bookkeeping
entries only and the Participant shall have no secured or vested interest in any
specified assets.  A Participant's interest in the two accounts shall be
referred to in the aggregate as his "Deferred Compensation Account."

          b.   Adjusting of Accounts.  The Committee shall provide to each
Participant a list of investments from which a Participant can choose as a
deemed

                                      -4-
<PAGE>

investment for such Participant's Deferred Compensation Account.  A
Participant's Deferred Compensation Account shall be deemed invested in the
investments selected by such Participant (provided that if no investment is
selected, the Deferred Compensation Accounts shall be deemed invested in the
money market option).  The Deferred Compensation Accounts shall be adjusted as
of each Valuation Date to reflect increases or decreases in the value of such
deemed investments.  A Participant shall have the right to change the deemed
investment of his Deferred Compensation Accounts and the allocation of future
Supplemental Salary Deferrals, Matching Contributions and Bonus Deferrals by
notice to the Committee in such form as required by the Committee.  Such changes
in deemed investments shall be made on the Valuation Date next following the
date upon which said change was requested, or as soon thereafter as may be
administratively practicable.  To the greatest extent practicable, the same
valuation and accounting methods shall be used as are used to recalculate the
Members' account balances under the Tidewater 401(k) Savings Plan.  A
participant shall have no right to compel investment of any amounts credited to
Participant's Deferred Compensation Account.

                        ARTICLE 5:  PLAN ADMINISTRATION

     The Plan shall be administered by the Compensation Committee of the
Company's Board of Directors, the Employee Benefits Committee of the Company
(the "Committee"), and the Board of Directors of the Company, and their
respective powers and obligations are the same as those set forth in the Savings
Plan document, but modified to take into account that this Plan is an unfunded
plan for highly-compensated employees.  Each governing body shall have full
power and authority to interpret, construe and administer this Plan, and such
governing body's interpretations and constructions hereof and actions hereunder,
including the timing, form, amount or recipient of any payment to be made
hereunder, within the scope of its authority, shall be binding and conclusive on
all persons for all purposes.  No member of a governing body shall be liable to
any person for any action taken or omitted in connection with the interpretation
and administration of this Plan, unless attributable to his own willful
misconduct or lack of good faith.  Each administrator shall be fully indemnified
as provided in the Savings Plan.  A member of a governing body shall not
participate in any action or determination regarding his own benefits hereunder.

                           ARTICLE 6:  DISTRIBUTIONS

          a.   Participant's Benefit and Distribution Elections.  A Participant
shall be entitled to a distribution from his Deferred Compensation Account on a
Distribution Date. If a Participant becomes entitled to a distribution because
of termination of employment, the Participant shall be entitled to payment of an
amount equal to his entire vested Deferred Compensation Account.  If a
Participant becomes entitled to a distribution because a Selected Date has been
reached, the Participant shall be entitled to payment of an amount equal to the
portion of his vested Deferred Compensation Account related to the Supplemental
Salary Deferral Agreement in which the Selected Date was selected. For the
purpose of determining the amount to be distributed to a Participant, the vested
Deferred Compensation Account balance shall be that as determined on the
Distribution Date.  In the case of installment payments, the amount of each
installment payment shall

                                      -5-
<PAGE>

be the numerator (equal to 1) divided by the denominator (this being the total
number of remaining installment payments) multiplied by the vested Deferred
Compensation Account balance on the date of the installment payment.

     Distributions shall be made in cash.  A distribution upon either a Selected
Date or a Termination Date may be in either a single lump sum or installments,
as elected by the Participant.  A Selected Date shall be no sooner than two
years following the date the Compensation would be paid, if it were not
deferred.  If an installment payment election is made, payments will be made
annually over the period selected by the Participant, which period shall not
exceed ten (10) years.  If the Participant makes no election regarding the form
of a benefit, the benefit shall be paid in a single lump sum.  Prior to October
1, 1999, an election to receive a benefit in installments could be made only in
the Participant's Salary Deferral Agreement.  After October 1, 1999, an election
as to the form of a benefit can be made on a form provided by the Committee at
any time, but the election cannot take effect for a period of 13 months, except
in the case of a Change of Control as provided below.  A change to a Selected
Date or form of benefit (lump sum or installment) election hereunder will be
permitted, but no change will be effective for a period of at least 13 months
following the date that the Committee is notified of such change, except in the
case of a Change of Control as provided below.

          b.   Distribution Election in Anticipation of a Change of Control.  A
Participant can also elect at any time prior to a Change of Control, in a form
and manner reasonably satisfactory to the Company, to have the value of his
Deferred Compensation Account paid in a lump sum in cash within five business
days of the Change of Control, without regard to any other provision of the Plan
or any payment or distribution elections applicable to the payment of the
Participant's Deferred Compensation Account in the absence of a Change of
Control.

          c.   Death Benefit.  If the Participant's employment terminates by
reason of death, or if the Participant dies prior to receipt of all the benefits
provided under Paragraph 6 (a), an amount equal to the remaining value of the
Participant's vested Deferred Compensation Account shall be distributed to the
Death Beneficiary in a lump sum or installments, as elected by the Participant
on the Designation of Beneficiary form. A lump sum distribution shall be made
within 60 days after the Participant's death and shall be in the amount of the
Participant's vested Deferred Compensation Account as of the Distribution Date.
A distribution in installments shall begin within 60 days after the
Participant's death and be calculated as provided in Article 6a.

          d.   Hardships.  A benefit is payable under this Plan to a Participant
prior to a Distribution Date only if the Participant establishes to the
satisfaction of the Compensation Committee of the Board of Directors that the
Participant has an unforeseeable emergency.  An unforeseeable emergency is a
severe financial hardship of the Participant resulting from a sudden and
unexpected illness or accident of the Participant or a dependent of the
Participant, loss of the Participant's property due to uninsured casualty, or
other similar extraordinary and unforeseeable circumstances arising as a result
of events beyond the control of the Participant.  The amount distributed in the
case of an unforeseeable emergency shall be limited to what is needed to
reasonably

                                      -6-
<PAGE>

satisfy the emergency and is not reasonably available from other sources. The
amount of the hardship distribution cannot exceed the balance credited to the
Participant's Supplemental Salary Deferral Account and is charged against such
accounts.

          e.   Withholding.  All distributions shall be subject to applicable
state and federal withholding taxes.

                              ARTICLE 7:  VESTING

     A Participant's interest in his Supplemental Salary Deferral Account and
Bonus Deferral Account shall be 100 percent vested at all times, and, subject to
Article 13 hereof, a Participant's interest in his Matching Contribution Account
shall vest at the same rate as his Employer Contribution Account under the
Savings Plan.  If a Participant terminates employment without full vesting in
his Matching Contribution Account, the unvested portion shall be forfeited and
shall reduce the Company's obligations under this Plan.  The forfeiture is not
added to the other Participants' accounts.

                        ARTICLE 8:  NATURE OF AGREEMENT

     Participants and their Death Beneficiaries by virtue of participating under
this Plan have only an unsecured right to receive benefits from the Company as a
general creditor of the Company.  The Plan constitutes a mere promise to make
payments in the future. The adoption of this Plan and any setting aside of
amounts by the Company with which to discharge its obligations hereunder shall
not be deemed to create a trust for the benefit of Participants or their Death
Beneficiaries; legal and equitable title to any funds so set aside shall remain
in the Company, and any recipient of benefits hereunder shall have no security
or other interest in such funds.  Any and all funds so set aside shall remain
subject to the claims of the general creditors of the Company, present and
future, and no payment shall be made under this Plan unless the Company is then
solvent.  This provision shall not require the Company to set aside any funds,
but the Company may set aside such funds if it chooses to do so.
Notwithstanding the foregoing provisions of this Article 8 and any other
provision of the Plan, an amount equal to all Supplemental Salary Deferral
Contributions, Matching Contributions and Bonus Deferrals may be deposited into
a trust (any such trust, and any successor thereto, being hereinafter called the
"Trust") established by the Company for the purpose of assuring payment of the
Company's obligations under the Plan.  The Trust shall be subject to the claims
of the general creditors of the Company in the event of the Company's bankruptcy
or insolvency.  Notwithstanding any establishment of the Trust, the Company
shall remain responsible for the payment of any amounts so payable which are not
so paid by the Trust.

                     ARTICLE 9:  RESTRICTIONS ON ASSIGNMENT

     The interest of Participant or his Death Beneficiary may not be sold,
transferred, assigned, or encumbered in any manner, either voluntarily or
involuntarily, and any attempt so to anticipate, alienate, sell, transfer,
assign, pledge, encumber, or charge the same shall be null and void; neither
shall the benefits hereunder be liable for or subject to the debts, contracts,
liabilities, engagement, or torts of any person to whom such benefits or funds
are payable, nor shall they be subject to garnishment, attachment, or other
legal or

                                      -7-
<PAGE>

equitable process nor shall they be an asset in bankruptcy, except that
no amount shall be payable hereunder until and unless any and all amounts
representing debts or other obligations owed to the Company or any affiliate of
the Company by the Employee with respect to whom such amount would otherwise be
payable shall have been fully paid and satisfied.  The interest of any
Participant or Death Beneficiary shall be held subject to the maximum restraint
on alienation permitted or required by applicable Louisiana law.

                        ARTICLE 10:  DEMAND FOR BENEFITS

     Benefits upon termination of employment shall ordinarily be paid to a
Participant without the need for demand, and to a Death Beneficiary upon receipt
of the Death Beneficiary's address and Social Security number.  Nevertheless, a
Participant or a person claiming to be a death beneficiary who claims
entitlement to a benefit under Paragraph 6.a. or 6.b. can file a claim for
benefits with the Committee.  If the claim is for a benefit resulting from a
termination of employment or death, the Committee shall accept or reject the
claim within 30 days of its receipt.   If the claim is denied, the Committee
shall give the reason for denial in a written notice calculated to be understood
by the claimant, referring to  the plan provisions that form the basis of the
denial.  If any additional information or material is necessary to perfect the
claim, the Committee will identify these items and explain why such additional
material is necessary.  If the Committee neither accepts nor rejects the claim
within 30 days, the claim shall be deemed to be denied.  Upon the denial of a
claim, the claimant may file a written appeal of the denied claim to the
Compensation Committee of the Board of Directors of the Company within 60 days
of the denial.  The claimant shall have the opportunity to be represented by
counsel and to be heard at a hearing.  The claimant shall have the opportunity
to review pertinent documents and the opportunity to submit issues and argue
against the denial in writing.  The decision upon the appeal must be made no
later than the later of (a) 60 days after receipt of the request for review of
(b) 30 days after the hearing.  The Compensation Committee must set a date for
such a hearing within 30 days after receipt of the appeal.  In no event shall
the date of the hearing be set later than 60 days after receipt of the notice.
If the appeal is denied, the denial shall be in writing.  If an initial claim is
denied, all subsequent reasonable attorney's fees and costs of the successful
claimant, including the filing of the appeal with the Compensation Committee,
and any subsequent litigation, shall be paid by the Company unless the failure
of the Company to pay is caused by reasons beyond its control, such as
insolvency or bankruptcy.

                     ARTICLE 11:  AMENDMENT AND TERMINATION

          a.   Amendment.  The provisions of this Plan may be amended by the
Board of Directors of the Company from time to time and at any time in whole or
in part, even if such  amendment results in the termination or modification of
any Supplemental Salary Deferral Agreements, provided that no amendment shall
operate to deprive any Participant or Death Beneficiary of any vested rights in
their Deferred Compensation Accounts accrued to them under the Plan and Trust
prior to such amendment.

          b.   Termination.  While it is the Company's intention to continue the
Plan in operation indefinitely, the right is nevertheless expressly reserved to
terminate the Plan in whole or in part.  Upon a termination all Matching
Contribution Accounts shall be 100 percent vested, and amounts equal to the full
balance in each Participant's Deferred

                                      -8-
<PAGE>

Compensation Account shall be distributed (and taxable) to the Participant (or
his Death Beneficiary), and the Company shall have no further obligations under
the Plan.

          c.   Early Payments.  Notwithstanding any provision of this Plan to
the contrary, the Committee may direct the trustee of any trust established
pursuant to Article 8, hereof, to distribute to any Participant (or Beneficiary)
in the form of an immediate single-sum payment all or any portion of the amount
then credited to a Participant's affected Deferred Compensation Account or
Accounts, as the case may be, if an adverse determination is made with respect
to such Participant.  For this purpose,  the term adverse determination shall
mean that, based upon Federal tax or revenue law, a published or private ruling
or similar announcement issued by the Internal Revenue Service, a regulation
issued by the Secretary of the Treasury, a decision by a court of competent
jurisdiction, a closing agreement made under Section 7121 of the Code that is
approved by the Internal Revenue Service and involves such Participant or a
determination of counsel, a Participant has or will recognize income for Federal
income tax purposes with respect to any amount that is or will be payable under
this Plan before it is otherwise to be paid hereunder.

          Further, notwithstanding any provision of the Plan to the contrary,
the Committee may direct the trustee of any trust established pursuant to
Article 8 hereof to distribute to any Participant in the form of an immediate
single-sum payment all or any portion of the amount then credited to a
Participant's affected Deferred Compensation Account or Accounts as the case may
be, based upon a change in ERISA, a published advisory opinion or similar
announcement issued by the Department of Labor, a regulation issued by the
Secretary of Labor, a decision by a court of competent jurisdiction, an
agreement between such Participant and the Department of Labor or similar agency
or an opinion of counsel, such Participant is not a "management" or "highly
compensated" employee or this Plan is not an "unfunded" plan within the meaning
of ERISA.

                           ARTICLE 12:  MISCELLANEOUS

          a.   Governing Law.  The Plan and Trust shall be construed,
administrated and applied under the laws of the State of Louisiana.  It is the
Company's intent that the Plan shall be exempt from ERISA's provisions, to the
maximum extent permitted by law. The Plan is intended to be unfunded for federal
income tax purposes and for purposes of Title I of ERISA and intended to provide
deferred compensation only for a select group of management or highly
compensated employees and shall be exempt from Parts 2, 3 and 4 of ERISA,
pursuant to Sections 201(2), 301(a)(3) and 401(a)(1).

          b.   Pronouns.  The use of masculine pronouns shall be extended to
include the feminine gender wherever appropriate.

          c.   Continued Employment.  Nothing contained herein shall be
construed as conferring upon any Participant the right to continue in the employ
of the Company or any subsidiary of the Company in any capacity.

          d.   Recovery of Payments Made By Mistake.  Notwithstanding anything
to the contrary, a Participant or other Person receiving amounts from the Plan
is entitled only to those benefits provided by the Plan and promptly shall
return any payment, or portion thereof, made by mistake of fact or law.  The
Committee may offset the future

                                     -9-
<PAGE>

benefits of any recipient who refuses to return an erroneous payment, in
addition to pursuing any other remedies provided by law.

                         ARTICLE 13:  CHANGE OF CONTROL

          a.   Effect of Change of Control.  Upon a Change of Control (as
defined in Section 13(b) hereof) a Participant's interest in his Matching
Contribution Account shall immediately become fully vested.

          b.   Definition of Change of Control.  As used in this Section 13,
'Change of Control' shall mean:

               i.  the acquisition by any 'Person' (as defined in Section 13(c)
          hereof) of 'Beneficial Ownership' (as defined in Section 13(c) hereof)
          of 30% or more of the outstanding Shares of the Company's Common
          Stock, $0.10 par value per share (the 'Common Stock') or 30% or more
          of the combined voting power of the Company's then outstanding
          securities; provided, however, that for purposes of this subsection
          13(b)(i), the following shall not constitute a Change of Control:

                    A.  any acquisition (other than a 'Business Combination' (as
               defined in Section 13(b)(iii) hereof) which constitutes a Change
               of Control under Section 13(b)(iii) hereof) of Common Stock
               directly from the Company,

                    B.  any acquisition of Common Stock by the Company or its
               subsidiaries,

                    C.  any acquisition of Common Stock by any employee benefit
               plan (or related trust) sponsored or maintained by the Company or
               any corporation controlled by the Company, or

                    D.  any acquisition of Common Stock by any corporation
               pursuant to a Business Combination which does not constitute a
               Change of Control under Section 13(b)(iii) hereof; or

               ii.  individuals who, as of the effective date of Amendment
          Number Two to the Plan, constitute the Board (the 'Incumbent Board')
          cease for any reason to constitute at least a majority of the Board;
          provided, however, that any individual becoming a director subsequent
          to the effective date of Amendment Number Two to the Plan whose
          election, or nomination for election by the Company's shareholders,
          was approved by a vote of at least a majority of the directors then
          comprising the Incumbent Board shall be considered a member of the
          Incumbent Board, unless such individual's initial assumption of office
          occurs as a result of an actual or threatened election contest with
          respect to the election or removal of directors or other actual or
          threatened solicitation of proxies or consents by or on behalf of a
          Person other than the Incumbent Board; or

                                     -10-
<PAGE>

               iii.  consummation of a reorganization, merger or consolidation
          (including a merger or consolidation of the Company or any direct or
          indirect subsidiary of the Company), or sale or other disposition of
          all or substantially all of the assets of the Company (a 'Business
          Combination'), in each case, unless, immediately following such
          Business Combination,

                    A.  the individuals and entities who were the Beneficial
               Owners of the Company's outstanding Common Stock and the
               Company's voting securities entitled to vote generally in the
               election of directors immediately prior to such Business
               Combination have direct or indirect Beneficial Ownership,
               respectively, of more than 50% of the then outstanding shares of
               common stock, and more than 50% of the combined voting power of
               the then outstanding voting securities entitled to vote generally
               in the election of directors, of the Post-Transaction Corporation
               (as defined in Section 13(c) hereof), and

                    B.  except to the extent that such ownership existed prior
               to the Business Combination, no Person (excluding the Post-
               Transaction Corporation and any employee benefit plan or related
               trust of either the Company, the Post-Transaction Corporation or
               any subsidiary of either corporation) Beneficially Owns, directly
               or indirectly, 30% or more of the then outstanding shares of
               common stock of the corporation resulting from such Business
               Combination or 30% or more of the combined voting power of the
               then outstanding voting securities of such corporation, and

                    C.  at least a majority of the members of the board of
               directors of the Post-Transaction Corporation were members of the
               Incumbent Board at the time of the execution of the initial
               agreement, or of the action of the Board, providing for such
               Business Combination; or

               iv.  approval by the shareholders of the Company of a complete
          liquidation or dissolution of the Company.

          c.  Other Definitions.  As used in Section 13(b) hereof, the following
     words or terms shall have the meanings indicated:

               i.  Affiliate:  'Affiliate' (and variants thereof) shall mean a
          Person that controls, or is controlled by, or is under common control
          with, another specified Person, either directly or indirectly.

               ii.  Beneficial Owner:  'Beneficial Owner' (and variants
          thereof), with respect to a security, shall mean a Person who,
          directly or indirectly (through any contract, understanding,
          relationship or otherwise), has or shares (i) the power to vote, or
          direct the voting of, the security, and/or (ii) the power to dispose
          of, or to direct the disposition of, the security.

                                     -11-
<PAGE>

               iii.  Person:  'Person' shall mean a natural person or company,
          and shall also mean the group or syndicate created when two or more
          Persons act as a syndicate or other group (including, without
          limitation, a partnership or limited partnership) for the purpose of
          acquiring, holding, or disposing of a security, except that 'Person'
          shall not include an underwriter temporarily holding a security
          pursuant to an offering of the security.

               iv.  Post-Transaction Corporation:  Unless a Change of Control
          includes a Business Combination (as defined in Section 13(b)(iii)
          hereof), 'Post-Transaction Corporation' shall mean the Company after
          the Change of Control.  If a Change of Control includes a Business
          Combination, 'Post-Transaction Corporation' shall mean the corporation
          resulting from the Business Combination unless, as a result of such
          Business Combination, an ultimate parent corporation controls the
          Company or all or substantially all of the Company's assets either
          directly or indirectly, in which case, 'Post-Transaction Corporation'
          shall mean such ultimate parent corporation."

     Thus done and signed effective the 1st day of October, 1999.

                              TIDEWATER INC.

                              By: /s/ Ken C. Tamblyn
                                  -------------------------------
                                      Ken C. Tamblyn
                                Executive Vice President and
                                    Chief Financial Officer
Attest:

/s/ Michael L. Goldblatt
----------------------------
      Michael L. Goldblatt

                                     -12-

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