Document:

Selling Agreement

 Exhibit 10.16 

 
 

 
 AEGIS CAPITAL 

810 Seventh Avenue - 11th Floor 
 New York, New York 10019 
 Tel (212) 813-1010 / Fax (212) 813-1048

 April 20, 2012 
 Mr.
Lyle Strachan 
 Chief Financial Officer 

Red Bullet Racing Corporation 
 Ginger Punch
Racing Corporation 
 Ghostzapper Racing Corporation 
 Macho Uno Racing Corporation 
 Perfect Sting Racing Corporation 

Awesome Again Racing Corporation 
 901 S. Federal
Highway 
 Hallandale Beach, FL 33099 
 Re:     SELLING AGREEMENT 
 Dear Mr. Strachan, 

This letter (together with Schedule I, and Exhibits A, B and C annexed hereto and made a part hereof, all of which taken together
constitute this “Agreement”) and the Engagement Letter dated March 29, 2012 confirm our complete understanding with respect to the retention of Aegis Capital Corp. (“Aegis”), a registered broker/dealer as financial advisor to Red
Bullet Racing Corporation, Ginger Punch Racing Corporation, Ghostzapper Racing Corporation, Macho Uno Racing Corporation, Perfect Sting Racing Corporation and Awesome Again Racing Corporation (together these entities shall be referred to as the
“Company”) in connection with advisory services (the “Advisory”) described in Engagement Letter the and certain securities placement services in connection with the self-underwritten initial public offerings of the Company’s
shares of common stock as provided therein and herein. This Agreement together with the Engagement Letter supersedes all prior agreements written and oral, which upon the effectiveness of this Agreement are of no further force and effect.

 Upon the terms and subject to the conditions set forth hereinafter, the parties hereto agree as follows: 

Aegis (the “Selling Agent”) will act on a best-efforts basis as a selling agent for up to an aggregate of number of shares of
common stock set forth in Schedule I for the applicable company (collectively, the “Shares of Common Stock”) being sold by such company in a self-underwritten initial public offering. The Shares of Common Stock and the terms upon which
they are to be offered for sale are more particularly described in the applicable preliminary prospectus contained in the specified registration statement, each dated April 20, 2012, as identified on Schedule I, and in the final prospectus
(together, the “Prospectus”). The parties acknowledge and agree that Aegis is not being engaged hereunder to act as an underwriter. In the Prospectus Aegis shall be referred to as a selling agent. 

 Red Bullet Racing Corporation 
 Ginger Punch Racing Corporation 
 Ghostzapper Racing Corporation 

Macho Uno Racing Corporation 
 Perfect Sting
Racing Corporation 
 Awesome Again Racing Corporation 
 April     , 2012 
  Page
 2
 of      
  

 1. Placement of Shares. The Shares of Common Stock are to be offered to the
public by the applicable company as part of its self-underwritten initial public offering, through the Selling Agent and by the Company directly, at the price per Share set forth on the cover page of the applicable Prospectus (the “Public
Offering Price”) and in accordance with the terms of the offering set forth in such Prospectus. Aegis acknowledges that the Company is not obligated to offer a specific number of Shares of Common Stock through Aegis. 

Aegis represents that it is engaged in the investment banking or securities business and is a member of the Financial Industry Regulatory
Authority, Inc. (the “FINRA”) in good standing and further agrees to comply with the provisions of Rule 5141 of the Conduct Rules of the FINRA (the “Rules”), and Rule 5130. The Shares of Common Stock will be offered at the Public
Offering Price less, in the case of Shares of Common Stock sold to persons with whom Aegis has or establishes a customer account relationship, a selling concession not in excess of 4.00% (four percent) of the Public Offering Price per Share of
Common Stock, payable as hereinafter provided. 
 The opportunity to offer the Shares of Common Stock for sale is subject to the
Company’s ability lawfully to sell the Shares of Common Stock in certain states and Aegis’ ability lawfully to place the Shares of Common Stock with investors in the states in which it is qualified to do business. In this regard, the
Company understands and agrees that Aegis may offer the Shares of Common Stock to its clients/client network according to its own internal standards of suitability, which suitability analysis shall be undertaken by Aegis in its sole and unfettered
discretion. Aegis is under no obligation to offer any Shares of Common Stock to any prospective investor not meeting its internal suitability criteria or any other criteria that it may determine at any time during the pendency of the offering. The
Company understands that Aegis reserves the right to decline to open an account for any investor who may seek to open an account with Aegis in connection with the Offering for any reason whatsoever. 

2. Payment. In consideration for the services provided hereunder, Aegis shall be compensated in the manner described in the
Engagement Letter. 
 3. Termination. This Agreement will terminate the later of the Term of Retention set forth in the
Engagement Letter or when Aegis shall have determined that the public offering of the Shares of Common Stock has been completed and upon notice to the Company. 
 4. Compliance with Laws. On becoming a Selling Agent, and in offering and placing the Shares of Common Stock, Aegis agrees to comply with all applicable requirements of the Securities Act of 1933,
as amended (the “Securities Act”), the Exchange Act, including Rule 15c2-8 thereunder relating to the delivery of prospectuses in connection with placement of the Shares of Common Stock. 

  
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 Red Bullet Racing Corporation 
 Ginger Punch Racing Corporation 
 Ghostzapper Racing Corporation 

Macho Uno Racing Corporation 
 Perfect Sting
Racing Corporation 
 Awesome Again Racing Corporation 
 April     , 2012 
  Page
 3
 of      
  

 5. Blue Sky Matters. The Company agrees to advise agent as to the jurisdictions
in which the Shares of Common Stock have been qualified for sale under the respective securities or blue sky laws of such jurisdictions. 
 6. Prospectuses. The Company agrees to provide Aegis with such copies of the Prospectus as may be reasonably requested. 
 7. Liability of Selling Agent. Aegis shall not be under any liability for or in respect of the value, validity or form of the Shares of Common Stock, or delivery of the certificates representing
the Shares of Common Stock, or the performance by anyone of any agreement on its part, or the qualification of the Shares of Common Stock for sale under the laws of any jurisdiction, or for or in respect of any matter connected with this Agreement,
except for gross negligence, willful misconduct or lack of good faith and for obligations expressly assumed by us in this Agreement. No obligation, unless expressly assumed by us in this Agreement, shall be implied hereby or inferred herefrom. The
foregoing provisions shall not be deemed a waiver of any liability imposed under the Securities Act. 
 8. Miscellaneous.
The terms of provisions of Exhibits A-C are incorporated herein by this reference. 
 9. Counterparts/Written
Amendments/Governing Law. This Agreement may be signed in counterparts. No modification of this Agreement (and any and all undertakings thereunder) shall be binding on either party unless in writing and signed by both parties. 

THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, APPLICABLE TO CONTRACTS
MADE AND TO BE PERFORMED SOLELY WITHIN THAT STATE. 
 [THE REMAINDER OF
THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 - 3 -

 Red Bullet Racing Corporation 
 Ginger Punch Racing Corporation 
 Ghostzapper Racing Corporation 

Macho Uno Racing Corporation 
 Perfect Sting
Racing Corporation 
 Awesome Again Racing Corporation 
 April     , 2012 
  Page
 4
 of      
  

 If the foregoing correctly sets forth our understanding with respect to the subject
matter hereto, please confirm the same by executing and returning to us the duplicate copy of this Agreement. Aegis will remain committed to entering into this Agreement provided it is executed by you on or before April 20, 2012. 

 

	
	Very truly yours,
	 /s/ Kevin McKenna

	Aegis Capital Corp.
	As Selling Agent

  

			
	By:	 	  

	Name: Kevin McKenna
	Title: Chief Compliance Officer

 Agreed & Accepted on behalf of the Company: 

 

			
	By:	 	 /s/ Lyle Strachan

	Name: Lyle Strachan
	Title: Chief Financial Officer

  
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 Schedule I 

 

					
	 Company
	  	 Number of Shares of Common Stock
	  	 Registration
Statement/Preliminary
Prospectus

	Red Bullet Racing Corporation 	  	405,000	  	File No. 333-178754
			
	Ginger Punch Racing Corporation 	  	405,000	  	File No. 333-178782
			
	Ghostzapper Racing Corporation 	  	405,000	  	File No. 333-178785
			
	Macho Uno Racing Corporation 	  	405,000	  	File No. 333-178781
			
	Perfect Sting Racing Corporation 	  	405,000	  	File No. 333-178783
			
	Awesome Again Racing Corporation 	  	405,000	  	File No. 333-178784

 EXHIBIT A 
 STANDARD TERMS AND CONDITIONS 
  

	1.	The Company shall promptly provide Aegis Capital Corp. with all relevant information about the Company (to the extent available to the Company) that shall be reasonably
requested or required by Aegis in carrying out the services under this Agreement which information shall be true, accurate and correct in all material respects at the time furnished. 

 

	2.	Aegis shall keep all information obtained from the Company strictly confidential except: (a) for information which is otherwise publicly available, or previously known
to Aegis or was obtained by Aegis independently of the Company and without breach of Aegis’ agreement with the Company; (b) Aegis may disclose such information to its affiliates, shareholders, officers, directors, representatives, agents,
employees and attorneys, and to financial institutions, in each case where such disclosure is reasonably required in connection with the performance by Aegis of its services hereunder, but shall ensure that all such persons will keep such
information strictly confidential; (c) pursuant to any order of a court of competent jurisdiction or other governmental body (Aegis will give written notice to the Company of such order within forty-eight (48) hours of receipt of such order); and
(d) upon prior written consent of the Company. 

  

	3.	The Company recognizes that in order for Aegis to perform properly its obligations in a professional manner, it is necessary that Aegis be informed of and, to the
extent practicable, participate in meetings and discussions between the Company, on the one hand, and investors and potential investors introduced relating to the matters covered by the terms of Aegis’ engagement. 

 

	4.	The Company agrees that any report or opinion, oral or written, delivered to it by Aegis is prepared solely for its confidential use and shall not be reproduced,
summarized, or referred to in any public document or given or otherwise divulged to any other person, other than its employees and attorneys, without Aegis’ prior written consent, except as may be required by applicable law or regulation or
legal process (the Company will give written notice to the Aegis of such legal process within forty-eight (48) hours of receipt of such legal process), which consent shall not be unreasonably withheld or delayed. 

 

	5.	No fee payable by the Company to any other financial advisor or lender shall reduce or otherwise affect any fee payable by the Company to Aegis.

  

	6.	The Company represents and warrants that; (a) it has full right, power and authority to enter into this Agreement and to perform all of its obligations hereunder; (b)
the Agreement has been duly authorized and executed and constitutes a valid and binding agreement of the Company, enforceable in accordance with its terms; and (c) the execution and delivery of the Agreement and the consummation of the transactions
contemplated hereby does not conflict with or result in a breach of (i) the Company’s certificate of incorporation or by-laws or (ii) any agreement to which the Company is a party by which any of their property or assets is bound.

  

	7.	Nothing contained in the Agreement shall be constituted to place Aegis and the Company in the relationship of partners or joint ventures. Neither Aegis nor the Company
shall represent itself as the agent or legal representative of the other for any purpose whatsoever nor shall either have the power to obligate or bind the other in any manner whatsoever. Aegis in performing its services hereunder, shall at all
times be an independent contractor. 

	8.	The Agreement has been and is made solely for the benefit of Aegis, the Company and each of the persons, agents, employees, officers, directors and controlling persons
referred to in Exhibit B and their respective heirs, executors, personal representatives, successors and assigns, and nothing contained in the Agreement shall confer any rights upon, nor shall this Agreement be construed to create any rights in, any
person who is not a party to such Agreement, other than as set forth in this paragraph. 

  

	9.	The rights and obligations of either party under this Agreement may not be assigned without the prior written consent of the other party hereto and any other purported
assignment shall be null and void without force and effect. 

  

	10.	All communications hereunder, except as may be otherwise specifically provided herein, shall be in writing and shall be mailed, hand delivered, or emailed and confirmed
by letter or sent by overnight delivery service, to the party whom it is addressed at the following addresses or such other address as such party may advise the other in writing: 

  To the Company: 
 Telephone:
954-457-6997                                       
                              

			
	 Red Bullet Racing Corporation
	  	Email: [                    
]                                    

   Ginger Punch Racing Corporation 

  Ghostzapper Racing Corporation 
   Macho Uno Racing Corporation 
   Perfect Sting Racing
Corporation 
   Awesome Again Racing Corporation 

  901 S. Federal Highway 
   Halalndale Beach, FL 33099 

Attention:         Mr. Lyle Strachan 

Chief Financial Officer 
   To Aegis: 
   Aegis Capital Corp. 

			
	 810 Seventh Avenue,
11th floor
	  	                Telephone: (212) 813-1010
	 New York, NY 10019
	  	                Email:
[                     ]

                         
            Attention:         David Bocchi 
 Senior Managing Director, 
 Investment Banking 

  
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 EXHIBIT B 
 INDEMNIFICATION 
 Recognizing that transactions of the type contemplated in this engagement
sometimes result in litigation and that the role of Aegis Capital Corp. is advisory, the Company agrees to indemnify and hold harmless Aegis and its affiliates and their respective officers, directors, employees, agents and controlling persons
within the meaning of Section 15 of the Securities Act of 1933, as amended (the “Act”) or Section 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and against any and all loss, charge, claim, damage, expense and
liability whatsoever, including, but not limited to, all attorneys’ fees and expenses (hereinafter a “Claim” or “Claims”), related to or arising in any manner out of, based upon, or in connection with (i) any untrue
statement or alleged untrue statement of a material fact made by the Company or any omission or alleged omission of the Company to state a material fact required to be stated therein or necessary to make the statements therein not misleading or (ii)
except as provided in the next paragraph, any transaction, proposal or any other matter (items (i) and (ii) being hereinafter referred to as a “Matter” or “Matters”) contemplated by the engagement of Aegis hereunder, and will
promptly reimburse Aegis for all expenses (including reasonable fees and expenses of legal counsel) as incurred in connection with the investigation of, preparation for or defense of any pending or threatened Claim related to or arising in any
manner out of any Matter contemplated by the engagement of Aegis hereunder, or any action or proceeding arising there from (collectively, “Proceedings”), whether or not Aegis is a formal party to any such Proceeding. Notwithstanding the
foregoing, the Company shall not be liable in respect of any Claims that a court of competent jurisdiction has judicially determined by final judgment (and the time to appeal has expired or the last right of appeal has been denied) resulted solely
from the gross negligence or willful misconduct of an Indemnified Party. The Company further agrees that it will not, without the prior written consent of Aegis settle compromise or consent to the entry of any judgment in any pending or threatened
proceeding in respect of which indemnification may be sought hereunder (whether or not Aegis or any Indemnified Party is an actual or potential party to such Proceeding), unless such settlement, compromise or consent includes an unconditional
release of Aegis hereunder from all liability arising out of such proceeding. Notwithstanding the foregoing, the Company shall not be obligated to indemnify any amount hereunder that exceeds the amount of damages incurred by Aegis pursuant to this
Agreement or such Proceeding. 
  

 In order to provide for just and equitable contribution in any case in which Aegis (collectively referred to
as an “Indemnified Party”) is entitled to indemnification pursuant to this Engagement Letter but it is judicially determined by the entry of a final judgment decree by a court of competent jurisdiction (and the time to appeal has expired
or the last right of appeal has been denied) that such indemnification may not be enforced in such case, or (ii) contribution may be required by the Company in circumstances for which an Indemnified Party is otherwise entitled to indemnification
under the Agreement, then, and in each such case, the Company shall contribute to the aggregate losses, Claims, damages and/or liabilities in an amount equal to the amount for which indemnification was held unavailable. 

The indemnity, reimbursement and contribution provisions set forth herein shall remain operative and full force and effect regardless of (i) any
withdrawal, termination or consummation of or failure to initiate or consummate any Matter referred to herein, (ii) any investigation made by or on behalf of any party hereto or any person controlling (within the meaning of Section 15 of the
Securities act of 1933 as amended, or Section 20 of the Securities Exchange Act of 1934, as amended) any party hereto, (iii) any termination or the completion or expiration of this Engagement Letter with Aegis and (iv) whether or not Aegis shall, or
shall not be called upon to, render any formal or informal advice in the course of such engagement. 
 Unless otherwise defined, capitalized
terms used herein shall have the meaning ascribed to them in the Engagement Letter. 

  
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 EXHIBIT C 
 JURISDICTION 
 Each of the Company and Aegis hereby irrevocably; (a) submits to the jurisdiction
of any court of the State of New York or any federal court sitting in the State of New York for the purposes of any suit, action or other proceeding arising out of the Agreement between the Company and Aegis which is brought by or against either
party; (b) agrees that all claims in respect of any suit, action or proceeding may be heard and determined in any such court; and (c) to the extent that the Company or Aegis has acquired, or hereafter may acquire, any immunity from jurisdiction of
any such court or from any legal process therein, each of them hereby waives, to the fullest extent permitted by law, such immunity. 
 Each of
Aegis and the Company hereby waives, and the Company agrees not to assert in any such suit, action or proceeding, in each case, to the fullest extent permitted by applicable law, any claim that: (a) the Company is not personally subject to the
jurisdiction of any such court; (b) it is immune from any legal process (whether through service or notice, attachment prior to judgment, attachment in the aid of execution, execution or otherwise) with respect to it or its property; (c) any such
suit, action or proceeding is brought in an inconvenient forum; (d) the venue of any such suit, action or proceeding is improper; or (e) this Agreement may not be enforced in or by any such court. 

Nothing in these provisions shall affect any party’s right to serve process in any manner permitted by law or limit its rights to bring a proceeding
in the competent courts of any jurisdiction or jurisdictions or to enforce any lawful manner a judgment obtained in one jurisdiction in any other jurisdiction.Retirement and Non-Executive Chairman Agreement

 Exhibit 10.1 
 RETIREMENT AND NON-EXECUTIVE CHAIRMAN AGREEMENT 
 This Retirement and
Non-Executive Chairman Agreement (the “Agreement”) is dated April 17, 2012 (the “Effective Date”), by and between Tidewater Inc., a Delaware corporation (the “Company”) and Dean E. Taylor (the
“Executive”). 
 WHEREAS, Executive has advised the Company of his desire to retire as the Company’s
President and Chief Executive Officer; and 
 WHEREAS, the Executive is currently the Chairman of the Board of Directors of the
Company, and the Board of Directors desires to retain the services of the Executive as Non-Executive Chairman; 
 NOW THEREFORE,
in consideration of the mutual promises herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows:

 ARTICLE I 
 EMPLOYMENT TERM 
 1.1 Employment. Executive agrees to
continue to serve as an employee and the President and Chief Executive Officer of the Company on a full-time basis, such service to continue until May 31, 2012 (the “Retirement Date”). 

1.2 Devotion to Responsibilities. Until such time as he is no longer the President and Chief Executive Officer of the
Company, Executive shall carry on his ordinary and customary duties. In addition, the Executive shall assist the Company in effecting an orderly transition of his responsibilities to his successor and perform such other duties as may be reasonably
requested by the Board of Directors. 
 ARTICLE II 
 NON-EXECUTIVE CHAIRMAN OF THE BOARD 
 2.1 Engagement and
Term. The Company hereby engages the Executive and the Executive hereby accepts engagement as Non-Executive Chairman, with such engagement to begin as of the Retirement Date and continuing through December 31, 2013 (the
“Term”). The date the Term ends is referred to in this Agreement as the “Termination Date.” 

2.2 Scope of Services and Duties. During the Term, the Executive agrees to be reasonably available, either in person, by
telephone, or via electronic mail to consult, advise, and assist in connection with such matters as the Company may reasonably request and as are within his area of expertise and prior experience, including but not limited to: (a) presiding at
all meetings of the Board of Directors; (b) working to assure that the Board of Directors functions effectively and meets its obligations and responsibilities; (c) coordinating with the Chief Executive Officer and the Lead Independent
Director in the setting of the agenda and the preparation and distribution of information packages and related matters for meetings of the Board of Directors; (d) with the Lead Director, serving as liaison between management and the Board of
Directors; (e) mentoring the Company’s Chief Executive Officer and introducing the 

 
Chief Executive Officer to key customers and contacts; (f) serving, at the request of the Chief Executive Officer, as a liaison with customers, government officials and stockholders on
behalf of the Company; and (g) performing such other duties as may be fixed by the Board of Directors from time to time. The Executive agrees to devote such time as is reasonably necessary to effectively assist the Company with regard to these
matters, but no more than 20% of such time as Executive previously devoted to his responsibilities as an employee of the Company. 
 2.3 Independent Contractor Status. It is the intention of the parties to establish, during the Term, an independent contractor relationship and not an employer-employee relationship,
partnership, or joint venture. During the Term, the Executive shall not be deemed employed by the Company for purposes of any federal or state withholding taxes, and the Company shall not be responsible for or required to withhold any such taxes for
or on behalf of the Executive. Unless otherwise specifically agreed upon in writing, the Executive shall not have any authority during the Term to act as the Company’s agent for any purposes, or to otherwise incur any liability or obligation in
the name or on behalf of the Company other than in his position as the Non-Executive Chairman of the Board. 
 2.4
Compliance with Company Policies. The Executive agrees that, during the Term, he will continue to comply with all company policies to the extent relevant to his activities, including but not limited to: (a) the Code of Business Conduct
and Ethics; and (b) the Policy Statement on Insider Trading, which prohibits, among other things, trading in the Company’s securities while in possession of material nonpublic information. 

2.5 Date of Separation from Service. The parties agree that the services to be provided during the Term pursuant to this
Agreement are distinct from the services the Executive provided as an employee of the Company. Nevertheless, the parties agree that the level of services expected to be provided by the Executive during the Term shall not exceed the level of services
permitted under Treasury Regulations § 1.409A-1(h)(1)(i) under which the Executive is presumed to have had a “Separation from Service” and shall not affect the date of the Executive’s “Separation from
Service” from the Company, as such term is defined in the regulations under Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”). The Retirement Date shall be the Executive’s date of
Separation from Service. 
 ARTICLE III 
 COMPENSATION AND BENEFITS 
 3.1 Pre-Retirement Compensation and
Benefits. Executive’s salary and benefits shall remain unchanged through the Retirement Date. In particular, Executive shall continue to be entitled to receive through the Retirement Date: (a) base salary at the annual rate of
$695,250, which was his base salary as of the Effective Date; (b) his annual bonus for the 2012 fiscal year, which the Compensation Committee has determined to be an aggregate award of $540,500 pursuant to the terms of the Company’s annual
incentive plan, and which shall be paid out at such time as annual cash bonuses are paid to other senior executives and in accordance with the terms and conditions of the annual bonus plan (including, if applicable, any adjustment based on the
Executive’s bonus bank balance); and (c) the same pension, health care and perquisites benefits through the Retirement Date that he was paid at the time that he entered into this Agreement. 

  
 2 

 3.2 Pro-Rata Bonus Payment. The Company will pay to the Executive or his legal
representatives a pro rata Bonus (the “Pro Rata Bonus”) for the 2013 fiscal year, which shall be paid out at such time as annual cash bonuses are paid to other senior executives of the Company and in accordance with the terms and
conditions of the annual bonus plan. The Executive’s annual incentive target shall remain unchanged (120% of salary) and the amount of the Pro Rata Bonus shall be determined by multiplying: (a) the annual bonus the Executive would have
received pursuant to the terms of the annual bonus plan as determined by the Compensation Committee had he remained employed by the Company through the end of the 2013 fiscal year; by (b) 2/12, representing the number of calendar months during
the 2013 fiscal year that the Executive was an employee. 
 3.3 Supplemental Executive Retirement Plan. The
Company acknowledges that the Executive is a participant in the Tidewater, Inc. Supplemental Executive Retirement Plan, as amended (the “SERP”), and that he will receive any benefits due under the SERP in accordance with the terms
and conditions of the SERP. Based on the terms of this Agreement and the terms of the SERP, the parties anticipate that the SERP payment will be made on December 1, 2012. 
 3.4 Compensation and Benefits During the Term. 
 (a) As a
non-employee member of the Company’s Board of Directors, following the Retirement Date the Executive shall be entitled to receive the compensation payable to the Company’s non-employee directors, which compensation shall be prorated during
the first fiscal year from the Retirement Date. In addition, during the Term the Executive shall receive an additional Non-Executive Chairman annual retainer of $150,000, which retainer shall be prorated for partial year service. 

(b) During the Term, the Executive shall be entitled to receive prompt reimbursement for all reasonable and necessary expenses incurred by
the Executive in performing non-executive chairman services, provided that such expenses are incurred under this Agreement and accounted for in accordance with policies and procedures established by the Company. 

(c) During the Term, the Company shall provide the Executive with dedicated on-site office space in New Orleans, periodic guest office
space in Houston, as needed, continued secretarial support (which shall be provided by Executive’s secretarial assistant as of the Effective Date, or, a mutually agreeable individual, who may also provide services to other Company personnel), a
cell phone, a computer, and a Company email address, with appropriate linkage to the Company’s communications or intranet network, with any charges incurred by the Executive related to such items to be paid or reimbursed by the Company to the
extent used for Company business. Additionally, the Company shall pay dues and expenses related to the Executive’s membership at Lakeside Country Club and dues and expenses related to the Executive’s membership at one additional luncheon
club. 
 (d) In the event that during the Term, the Executive is required to travel on Company business, he shall be entitled to
travel using first class air travel arrangements at the Company’s expense. Additionally, during the Term, the Chief Executive Officer may, in his sole discretion, permit the Executive to use the Company’s aircraft. 

  
 3 

 3.5 Indemnification. To the maximum extent provided by law, the Company shall
indemnify and hold Executive harmless from all claims, actions, damages or losses relating in any way to the Executive’s provision of services hereunder. The benefits provided herein are in addition to (i) any rights to indemnification and
defense, including any right to advancement of legal fees and expenses, as are provided to the Executive pursuant to the Company’s certificate of incorporation and bylaws, and under Delaware General Corporation Law, and
(ii) Executive’s rights pursuant to that certain Indemnification Agreement between the Company and the Executive dated December 15, 2009 (the “Indemnification Agreement”). 

3.6 Post-Retirement Insurance. 
 Subject to any eligibility or participation requirements as may be established pursuant to the terms thereof, Executive shall be entitled to continue individual or family medical insurance coverage
pursuant to terms of the Company’s retiree medical plan or Section 4980B of the Internal Revenue Code of 1986, as amended (“COBRA”). The premium for either option will be paid by the Company through December 31, 2013
and treated as taxable compensation to the Executive. Notwithstanding, if COBRA coverage is elected, the premium will be paid only through the maximum continuation period permitted under the law. Further, the Company’s premium payment will
apply only to the continuation of medical coverage. 
 After the period during which the Executive would be entitled to COBRA
continuation coverage, the payment or reimbursement of the applicable premium, or the payment of taxable medical benefits, shall comply with the nonqualified deferred compensation rules of Section 409A. Such payments or reimbursements will be
deemed paid as of the first of each month and: (a) the amount of benefits or reimbursements provided during one calendar year shall not affect the amount of benefits or reimbursements to be provided in any other calendar year; (b) the
reimbursement of any eligible expense shall be made no later than the last day of the calendar year following the year in which the expense was incurred; and (c) the right to reimbursement or benefits hereunder is not subject to liquidation or
exchange for another benefit. 
 3.7 Options and Restricted Stock. 

(a) Any outstanding stock options held by the Executive as of the Effective Date that are not vested as of the Retirement Date shall
continue to vest during the Term, but in other respects shall remain subject to any other terms of the applicable incentive agreement, except as otherwise provided herein. On December 31, 2013 or earlier upon the Executive’s termination of
service due to death or disability or involuntary termination of the Executive’s service as Non-Executive Chairman by the Company prior to December 31, 2013, all such unvested stock options previously granted to the Executive shall vest.
Each of the Executive’s vested but unexercised stock options must be exercised by the second anniversary of the Termination Date or, if earlier, within ten years from the applicable date of grant. 

(b) Any outstanding shares of restricted stock held by the Executive as of the Effective Date for which vesting is solely contingent upon
continued service and that are not vested as of the Retirement Date shall continue to vest during the Term but in other respects shall remain subject to any other terms of the applicable incentive agreement, except as otherwise provided herein. On
December 31, 2013 or earlier upon the Executive’s termination of service 

  
 4 

 
due to death or disability or involuntary termination of the Executive’s service as Non-Executive Chairman by the Company prior to December 31, 2013, all such unvested shares of
restricted stock previously granted to the Executive for which vesting is solely contingent upon continued service shall vest. 

(c) With respect to any outstanding shares of restricted stock held by the Executive as of the Effective Date for which vesting is
contingent upon the achievement of performance conditions (“Performance-Based Restricted Stock”) and that are not vested as of the Retirement Date, the terms and conditions of the incentive agreements under which such shares of
Performance-Based Restricted Stock were granted shall, subject to the conditions outlined in this Section 3.7(c) and Article IV of this Agreement, be revised to: (i) permit the Executive’s service as Non-Executive
Chairman during the Term to fulfill the continued service requirement under the incentive agreements; and (ii) eliminate the continued service requirement under the incentive agreements beyond December 31, 2013, or earlier upon the
Executive’s termination of service due to death or disability or involuntary termination of the Executive’s service as Non-Executive Chairman prior to December 31, 2013. At the end of the performance period applicable to any of the
Performance-Based Restricted Stock, to the extent the performance goals are achieved and such Performance-Based Restricted Stock vests, then the Executive shall receive the vested shares, provided that the Executive: (i) serves as Non-Executive
Chairman continuously through December 31, 2013 (except as otherwise provided above in the case of earlier termination due to death or disability, or involuntary termination by the Company); and (ii) complies with Article IV of this
Agreement during the applicable performance period. 
 (d) To the extent this Section 3.7 changes the terms of stock
options or restricted stock held by the Executive, this Section 3.7 shall be deemed to be an amendment to the incentive agreements between the Company and the Executive setting forth the terms of such incentives and shall form part of
each such agreement. For purposes of clarification, the outstanding awards referenced in this Section 3.7 include the awards granted to the Executive on March 14, 2012. 

ARTICLE IV 

NONDISCLOSURE, NONSOLICITATION OF EXECUTIVES, 
 PROPRIETARY RIGHTS AND COMPETITION 
 4.1 Certain Definitions.
For purposes of this Agreement, the following terms shall have the following meanings: 
 (a) “Confidential
Information” means confidential and proprietary information, knowledge, or data of any nature and in any form (including information that is electronically transmitted or stored on any form of magnetic or electronic storage media) of the
past, current, or prospective business or operations of the Company, its consolidated subsidiaries, and any joint ventures in which the Company participates (the “Tidewater Group”), that is not publicly known, whether or not marked
confidential, including without limitation information relating to any: (i) services, projects or jobs; (ii) estimating or bidding procedures; (iii) bidding strategies; (iv) present and future business plans, actual or potential
business acquisitions or joint ventures, capital expenditure projects, and cost summaries; (v) trade secrets; (vi) marketing data, strategies, or techniques; (vii) financial reports, budgets, projections, and cost analyses;
(viii)

  
 5 

 
pricing information, codes, and analyses; (ix) employee lists; (x) customer records, customer lists, and customer source lists; (xi) confidential filings with any government
agency; and (xii) internal notes and memoranda relating to any of the foregoing, provided that Confidential Information shall not include any information, knowledge, or data that is now, or hereafter becomes, known to the public (other than by
breach of this Agreement by the Executive or breach by any other party of a confidentiality obligation owed to the Company). 

(b) “Restricted Business” means the businesses of: (i) providing vessel services for the offshore oil and gas,
marine construction, and LNG terminal support; and (ii) vessel construction and repair. 
 4.2 Nondisclosure of
Confidential Information. The Executive shall hold in a fiduciary capacity and for the benefit of the Company all Confidential Information which shall have been obtained by the Executive during the tenure of Executive’s employment or
service as a director of the Company (whether prior to or after the date of this Agreement) and shall use such Confidential Information solely in the good faith performance of his duties for the Company. Until the second anniversary of the
Termination Date, the Executive agrees: (a) not to communicate or make available to any person or entity (other than the Company) any such Confidential Information, except upon the prior written authorization of the Company or as may be
required by law or legal process; and (b) to deliver promptly to the Company upon its written request any Confidential Information in his possession. In the event that the provisions of any applicable law or the order of any court would require
the Executive to disclose or otherwise make available any Confidential Information to a governmental authority or to any other third party, the Executive shall give the Company, unless it is unlawful to do so, prompt prior written notice of such
required disclosure and, and if possible given the terms of any production order of the judicial governmental or administrative body, an opportunity to contest the requirement of such disclosure or apply for a protective order with respect to such
Confidential Information by appropriate proceedings. This provision shall not limit in any way the Executive’s continued fiduciary duties owed to the Company and its stockholders while he remains a director of the Company. 

4.3 Limited Covenant Not to Compete. The Executive agrees that from the Effective Date until May 31, 2015 (the end of
the latest performance period applicable to the Executive’s Performance-Based Restricted Stock) (the “Restricted Period”), the Executive agrees that within any jurisdiction specified in Appendix A in which any member of
the Tidewater Group carries on the Restricted Business, so long as any member of the Tidewater Group carries on a like line of business therein (collectively, the “Subject Areas”), the Executive will restrict his activities during
the Restricted Period as follows: 
 (a) The Executive will not, directly or indirectly, for himself or others or in association
with any other person, own, manage, operate, control, be employed in an executive, managerial, or supervisory capacity by, or otherwise engage or participate in, or allow his skill, knowledge, experience or reputation to be used in connection with,
the ownership, management, operation, or control of any company or other business enterprise engaged in the Restricted Business within any of the Subject Areas; provided, however, that nothing contained herein shall prohibit the Executive from
making passive investments as long as the Executive does not beneficially own more than 1% of the equity interests of a publicly-traded business enterprise 

  
 6 

 
engaged in the Restricted Business within any of the Subject Areas. For purposes of this paragraph, “beneficially own” shall have the same meaning ascribed to that term in Rule 13d-3
under the Securities Exchange Act of 1934. 
 (b) The Executive will not, directly or indirectly, for himself or others or in
association with any other person, solicit any customer of the Restricted Business or of any member of the Tidewater Group, or otherwise interfere, induce, or attempt to induce any customer, supplier, licensee, or business relation of the Tidewater
Group for the purpose of soliciting, diverting, interfering, or enticing away the business of such customer, supplier, licensee, or business relation, or otherwise disrupting any previously-established relationship existing between such customer,
supplier, licensee, or business relation and the Tidewater Group. 
 4.4 Non-solicitation. The Executive agrees
that, during the Restricted Period, he will not, directly or indirectly, for himself or others or in association with any other person, make contact with any of the employees or independent contractors of the Tidewater Group for the purpose of
soliciting such employee for hire, whether as an employee or independent contractor, or for the purpose of inducing such persons to leave the employ of the Tidewater Group or cease providing services to the Tidewater Group, or otherwise to disrupt
the relationship of such persons with the Tidewater Group. In addition, the Executive will not hire, on behalf of himself or any company engaged in the Restricted Business, any employee of the Tidewater Group, whether or not such engagement is
solicited by the Executive. The provisions of this Section 4.4 shall automatically expire without any requirement of notice or other communication between the parties on the Termination Date. 

4.5 Proprietary Rights. 
 (a) The Executive agrees to and hereby does assign to the Company all his right, title, and interest in and to all inventions, business plans, work models, or procedures, whether or not patentable, which
are made or conceived solely or jointly by him: 
 (i) at any time during the term of his employment with the Company or during
the Term, or 
 (ii) with the use of materials of the Company. 

(b) The Executive agrees that, to a reasonable extent and through the Termination Date, he will communicate to the Company or its
representatives all facts known to him about such proprietary information, sign all necessary instruments, make all necessary oaths, and generally, at the Company’s expense, do everything reasonably practicable (without expense to the
Executive) to aid the Company in obtaining and enforcing proper legal protection for all such matters in all countries and in vesting title to such proprietary information in the Company. At the Company’s request (during or after the term of
this Agreement) and expense, the Executive will promptly execute a specific assignment of title to the Company, and perform any other acts reasonably necessary to implement the foregoing assignment. 

4.6 Other Remedies. Executive acknowledges that a breach or threatened breach by Executive of Section 4.2, 4.3,
4.4, or 4.5 would cause immediate and irreparable harm to the Company not fully compensable by money damages or the exact amount of which would be 

  
 7 

 
difficult to ascertain, and therefore the Company will not have an adequate monetary remedy at law. Accordingly, Executive agrees that, in the event of a breach or threatened breach by Executive
of the provisions of Section 4.2, 4.3, 4.4, or 4.5, the Company shall have the right upon the occurrence of any such breach or threatened breach to cancel the continued vesting of the stock options, restricted stock and Performance-Based
Restricted Stock provided for in Section 3.7, the unpaid Pro-Rata Bonus provided for in Section 3.2 and any unpaid salary, bonus, or commissions otherwise outstanding at the time of such breach or threatened breach. In
particular, Executive acknowledges that the payments and benefits provided hereunder are conditioned upon Executive fulfilling any noncompetition and nondisclosure agreements and covenants contained in this Article IV. In the event Executive
shall at any time breach this Article IV, the Company may suspend or eliminate payments under Article III during the period of such breach, including the continued vesting of the stock options, restricted stock and Performance-Based
Restricted Stock provided for in Section 3.7. Executive acknowledges that any such suspension or elimination of payments would be an exercise of the Company’s right to suspend or terminate its performance hereunder upon
Executive’s breach of this Agreement; such suspension or elimination of payments would not constitute, and should not be characterized as, the imposition of liquidated damages. Nothing contained herein shall be deemed to impair the
Executive’s right to indemnification provided to the Executive pursuant to the Company’s certificate of incorporation, bylaws, or Delaware General Corporation Law, or pursuant to the Indemnification Agreement. 

4.7 Executive’s Understanding of this Article. Executive acknowledges that the definition of Restricted Business, as
well as the geographic and temporal scope of the covenants contained in Article IV are the result of arm’s-length bargaining and are fair and reasonable in light of: (a) the importance of the functions performed by Executive;
(b) the nature and wide geographic scope of the operations of the Company and its subsidiaries; and (c) Executive’s level of control over and contact with the business and operations of the Tidewater Group. 

ARTICLE V WAIVERS AND RIGHT OF REVOCATION 
 5.1 Waiver and Release by Executive. In consideration of the Company’s agreement to enter into and provide the terms of this Agreement, Executive hereby and forever, irrevocably and
unconditionally, waives and releases any and all rights, claims, and causes of action against the Company or any member of the Tidewater Group (and their respective directors, officers, shareholders, employees, agents, insurers, assigns,
predecessors, and successors), of whatever kind or nature, known or unknown, asserted or unasserted, that may have arisen prior to or that may exist as of the date of the Executive’s execution and acceptance of this Agreement, arising or that
could be asserted under Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et seq.; the Americans with Disabilities Act, 42 U.S.C. § 12101 et seq.; the Civil Rights Act of 1991; the Civil Rights Act of 1866, 42 U.S.C. §
1981; the Employee Retirement Income Security Act; the Equal Pay Act, 29 U.S.C. § 206 et seq.; Executive Order 11246 and its implementing regulations; the Occupational Safety and Health Act, as amended, 29 U.S.C. § 651 et seq.; the Family
and Medical Leave Act; the Texas Labor Code; Texas federal or state immigrations laws; and any other statutes, laws, rules or regulations of the United States, the State of Texas or any other state in the United States or any ordinances of any
locality which may have afforded the Executive a cause of action or a legal or equitable claim of any sort 

  
 8 

 
based on employment discrimination or his employment relationship with the Company or on any other theory of liability, statutory or non-statutory, in contract or in tort, including, but not
limited to, claims of unpaid bonuses, profit-sharing payments, wages, or compensation of any kind under any plan, policy, contract, agreement or practice, personal injury damages, wrongful or constructive discharge, breach of any express or implied
employment contract or agreement, breach of any covenant of good faith and fair dealing, fraud, violation of public policy, whistle blowing, breach of contract, libel, slander, defamation, harassment of any kind, intentional infliction of emotional
distress, retaliation or employment discrimination on the basis of age, race, color, religion, disability, national origin or sex or on the basis of filing a workers’ compensation claim, asserting or reporting a work-related injury or on the
basis of or a cause of action or claim for recovery of back pay, front pay or any other type of wages, vacation pay, severance pay, health insurance, profit sharing benefits, retirement benefits, benefit under any employee benefit plan, unemployment
insurance benefits, liquidated damages, punitive damages, compensatory damages, attorneys’ fees, interests, costs, and any other legally recoverable category of damages arising from or concerning, either directly or indirectly, the
Executive’s employment with the Company. 
 5.2 Termination of Change of Control Agreement. On the Retirement
Date, the Change of Control Agreement between the Executive and the Company dated effective as of September 26, 2007, as amended by that Amendment No. 1 to Change of Control Agreement dated effective as of June 1, 2008 (the
“Change of Control Agreement”), shall terminate, and all rights of the Executive thereunder shall be extinguished. 
 5.3 Review and Consultation. It is understood and agreed that Executive has entered into and executed this Agreement voluntarily and that such execution by Executive is not based upon any
representations or promises of any kind made by the Company or any of its representatives except as expressly recited in this Agreement. Executive further acknowledges that he has read and fully understands each paragraph of this Agreement, that he
was advised in writing by the Company to consult with an attorney prior to executing this Agreement, and that he has availed himself of legal or other counsel to the full extent that he desires. Executive also agrees and acknowledges that the
consideration provided under this Agreement is in addition to any other payments, benefits, or other things of value to which he is entitled, including, but not limited to, payment of accrued vacation, rights under benefit plans of the Company
(including, but not limited to, any earned but deferred amounts or rights under the Company’s Certificate of Incorporation, or bylaws as in effect as of the date of this Agreement and that he would not be entitled to any of the consideration
provided under this Agreement in the absence of his execution and acceptance of this Agreement. 
 ARTICLE VI 

MISCELLANEOUS 
 6.1 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, but the Company may assign this Agreement only: (i) to one of its affiliates, provided the Company guarantees such affiliate’s performance of its
obligations under this Agreement; or (ii) pursuant to a merger or consolidation in which the 

  
 9 

 
Company is not the continuing entity, or the sale or liquidation of all or substantially all of the assets of the Company, provided that the assignee or transferee is the successor to all or
substantially all of the assets of the Company; and such assignee or transferee assumes the liabilities, obligations and duties of the Company, as contained in this Agreement, either contractually or as a matter of law. 

(b) This Agreement is personal to the Executive and shall not be assignable by the Executive 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, the laws of descent and distribution, or succession. 
 6.2 Notices. All notices hereunder must be in writing and shall be deemed to have 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 (d) facsimile transmission with confirmation of receipt. All such notices must be addressed
as follows: 
 If to the Company, to: 
 Tidewater Inc. 
 2000 West Sam Houston Parkway South 

Suite 1280 
 Houston, Texas 77042 
 Attention: Bruce Lundstrom 

Email: blundstrom@tdw.com 
 If to the Executive, to: 
 Dean E. Taylor 

Post Office Box 657 
 Kiln, MS 39556 
 or such other address as to which any party hereto may have
notified the other in writing. 
 6.3 Governing Law; Consent to Jurisdiction. This Agreement shall be governed by,
interpreted, and enforced in accordance with the laws of the State of Texas (without regard to any choice of law principles which might otherwise require the application of the law of another jurisdiction). The parties hereby agree that any action
brought with respect to this Agreement and the transactions contemplated hereunder, shall be brought in state or federal court in Harris County, Texas, and further that such venue shall be the exclusive venue for resolving any such disputes. The
parties consent to personal jurisdiction in state or federal court in Harris County, Texas, and further waive any objection they may have as to such venue. 
 6.4 Withholding. The Executive 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 under plans in which the Executive participates. 

  
 10 

 6.5 Amendment, Waiver. No provision of this Agreement may be modified,
amended, or waived except by an instrument in writing signed by both parties. 
 6.6 Waiver of Breach. The waiver
or ratification by either party of a breach of this Agreement shall not be construed as a waiver or ratification of any subsequent breach by either party to this Agreement. 
 6.7 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. 

6.8 Company’s Reservation of Rights. The Executive acknowledges and understands that the Executive serves at the
pleasure of the board of directors and the Company’s stockholders, and that the Company’s stockholders have the right to terminate the Executive’s status as a director of the Company, and the Board may change or diminish his
status, including during the Term, subject to the rights of the Executive to claim the benefits conferred by this Agreement. 

6.9 Fiduciary Duties. This Agreement shall not limit in any way the Executive’s fiduciary duties owed to the Company
and its stockholders while he remains a director of the Company. 
 6.10 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. 
 6.11 Company’s Representations. The Company represents and warrants that it is fully authorized and empowered to enter into this Agreement, that the Agreement has been duly authorized
by all necessary corporate action, that the performance of its obligations under this Agreement will not violate any agreement between it and any other person, firm, or organization or any applicable law or regulation and that this Agreement is
enforceable in accordance with its terms. 
 6.12 Entire Agreement. Except as otherwise noted herein, including,
but not limited to, references to bonus payments and opportunities, stock options, restricted stock, Performance-Based Restricted Stock, the Indemnification Agreement and the SERP, this Agreement constitutes the entire agreement between the parties
concerning the subject matter hereof and supersedes all prior and contemporaneous agreements, if any, between the parties relating to the subject matter hereof. 
 6.13 Severability. It is the desire and intent of the parties that the provisions of this Agreement be enforced to the fullest extent permitted under applicable law, whether now or hereafter
in effect and, therefore, to the extent permitted by applicable law, the parties hereto waive any provision of applicable law that would render any provision of this Agreement invalid or unenforceable. The covenants in this Agreement are severable
and separate, including within provisions, subparts, or portions thereof, and the unenforceability of any specific covenant, provision, or subpart in this Agreement is not intended by either party to, and shall not, affect the

  
 11 

 
provisions of any other covenant in this Agreement. If any court determines that the terms and conditions of this Agreement, including but not limited to the scope, time, or territorial
restrictions set forth in Article IV, are unreasonable as applied to Executive, the parties hereto acknowledge their mutual intention and agreement that the offending provision, subparts, or portions therefore be reformed to comply with any
applicable law, and the remaining provisions and restrictions be enforced to the fullest extent permitted by law. 
 6.14
Section 409A. The Agreement is intended to comply with the provisions of Section 409A and, wherever possible, shall be construed and interpreted to ensure that any payments that may be paid, distributed provided, reimbursed,
deferred or settled under this Agreement will not be subject to any additional taxation or premium interest under Section 409A. In the event the parties determine that this Agreement or any payment hereunder does not comply with the applicable
provisions of Section 409A, the Company and Executive agree to cooperate to the fullest extent in pursuit of any available corrective relief, as provided under the terms of Internal Revenue Service Notice 2008-113 or any corresponding
subsequent guidance, from the Section 409A additional income tax and premium interest. Notwithstanding the foregoing, the Executive acknowledges and agrees that any and all tax liabilities of the Executive arising from the transactions
contemplated by this Agreement are his sole responsibility, including, without limitation, any additional taxes and interest due pursuant to Section 409A. No acceleration of payments and benefits provided herein shall be allowed, unless
permitted by Section 409A. 
 [Signatures appear on the following page.] 

  
 12 

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

			
	TIDEWATER INC.
		
	By:	 	/s/ Richard du Moulin
		 	 Richard du Moulin
 Chairman of the Compensation Committee

  

			
	EXECUTIVE:
		
		 	/s/ Dean E. Taylor
		 	Dean E. Taylor

  

  
 13 

 APPENDIX A 
 Parishes of the State of Louisiana 
 Acadia 

Allen 
 Ascension

 Assumption 
 Avoyelles 
 Beauregard 

Calcasieu 

Cameron 
 East
Baton Rouge 
 East Feliciana 
 Evangeline 
 Iberia 

Iberville 

Jefferson 

Jefferson Davis 

Lafayette 

Lafourche 

Livingston 

Orleans 

Plaquemines 

Pointe Coupee 

Rapides 
 St.
Bernard 
 St. Charles 
 St. Helena 
 St. James 

St. John the Baptist 
 St. Landry 
 St. Martin 

St. Mary 
 St.
Tammany 
 Tangipahoa 
 Terrebonne 
 Vermillion 

Washington 
 West
Baton Rouge 
 West Feliciana 
 Jurisdictions Outside Louisiana 
 Texas Counties: 

Harris 
 Sabine

  
 A-1

 Orange 
 Jefferson 
 Chambers 

Galveston 

Montgomery 

Brazoria 

Matagorda 

Jackson Calhoun 

Victoria 

Aransas 
 Kleberg

 San Patricio 
 Nueces 
 Kenedy 

Willacy 
 Cameron

 Dallas 
 Tarrant 
 Johnson 

Ellis 
 Florida Counties:

 Broward 
 Dade 
 Palm Beach 

St. John’s 

Duval 
 Manatee

 Pinellas 
 Hillsborough 
 Escambia 

Okaloosa 
 Santa
Rosa 
 Alabama Counties: 
 Mobile 
 Baldwin 
 Mississippi Counties: 
 Hancock 

Harrison 

Jackson 
 Pearl
River 

  
 A-2

 The parties acknowledge and agree that Tidewater is a company with extensive worldwide and
offshore operations and it is the parties intent that the noncompetition covenant be given as broad a geographic effect as is lawful. Accordingly, in addition to the foregoing specified locations, it is the parties intent that the noncompetition
covenant set forth in the Agreement be given effect throughout the United States and worldwide, to the extent that the Executive would seek to provide services similar to those provided to Tidewater to a company in competition with Tidewater in any
of the jurisdictions in which it operates. To the extent that a court of relevant jurisdiction determines the geographic scope set forth herein to be overbroad, the parties hereby consent to such modification as the court may order such that the
broadest possible geographic footprint of the noncompetition covenant is enforceable. 

  
 A-3

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