TIDEWATER INC. (NYSE:TDW) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On August23, 2017, Tidewater Inc. (the “Company”) entered into an indemnification agreement with each of its independent directors, in the same form that the Company has used for its directors and certain officers since 2015 (the “Agreement”). The Agreement requires that the Company (i)indemnify the individual director or officer (each, an “Indemnitee”) to the fullest extent permitted under Delaware law against liabilities that may arise by reason of their service to the Company and (ii)advance expenses reasonably incurred as a result of any proceeding against them as to which they could be indemnified.
This summary is qualified in its entirety by reference to the full text of the Agreement, which is filed as Exhibit 10.1 to, and incorporated by reference into, this Current Report.
| Item 1.01. | Financial Statements and Exhibits. |
The following exhibit is filed as an exhibit to this Current Report on Form 8-K:
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Exhibit No. |
Description |
| 10.1 | Form of Tidewater Inc. Indemnification Agreement entered into with each member of the Board of Directors, each executive officer, and the principal accounting officer (incorporated by reference to Exhibit 10 of the Company’s Current Report on Form 8-K filed on August12, 2015). |
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About TIDEWATER INC. (NYSE:TDW)
Tidewater Inc. provides offshore service vessels and marine support services. The Company operates through four segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. Its Americas segment includes the activities of the Company’s North American operations, which include operations in the United States Gulf of Mexico (GOM), and the United States and Canadian coastal waters of the Pacific and Atlantic oceans, as well as operations of offshore Mexico, Trinidad and Brazil. The Asia/Pacific segment includes its Australian and Southeast Asian and Western Pacific operations. The Middle East/North Africa segment includes its operations in the Mediterranean and Red Seas, the Black Sea, the Arabian Gulf and offshore India. The Company’s Sub-Saharan Africa/Europe segment includes operations conducted along the East and West Coasts of Africa, as well as operations in and around the Caspian Sea, the North Sea, and certain other arctic/cold water markets.