<SEC-DOCUMENT>0001193125-17-229482.txt : 20170718
<SEC-HEADER>0001193125-17-229482.hdr.sgml : 20170718
<ACCEPTANCE-DATETIME>20170717173503
ACCESSION NUMBER:		0001193125-17-229482
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20170717
ITEM INFORMATION:		Bankruptcy or Receivership
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170718
DATE AS OF CHANGE:		20170717

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TIDEWATER INC
		CENTRAL INDEX KEY:			0000098222
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER TRANSPORTATION [4400]
		IRS NUMBER:				720487776
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06311
		FILM NUMBER:		17968217

	BUSINESS ADDRESS:	
		STREET 1:		601 POYDRAS ST.
		STREET 2:		SUITE 1500
		CITY:			NEW ORLEANS
		STATE:			LA
		ZIP:			70130
		BUSINESS PHONE:		5045681010

	MAIL ADDRESS:	
		STREET 1:		601 POYDRAS ST.
		STREET 2:		SUITE 1500
		CITY:			NEW ORLEANS
		STATE:			LA
		ZIP:			70130

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TIDEWATER MARINE SERVICE INC
		DATE OF NAME CHANGE:	19780724
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d159507d8k.htm
<DESCRIPTION>8-K
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) of the </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of
Report </B><B><I>(Date of earliest event reported)</I></B><B> July&nbsp;17, 2017 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>TIDEWATER INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>1-6311</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>72-0487776</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(State of incorporation)</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>(Commission File Number)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(IRS Employer Identification No.)</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>601 Poydras Street, Suite 1500</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>New Orleans, Louisiana</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>70130</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(504) 568-1010 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>N/A </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or
former address, if changed since last report) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions (<I>see</I> General Instruction A.2. below): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17&nbsp;CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17&nbsp;CFR 240.13e-4(c)) </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or
Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2). Emerging growth company &#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by
check mark if the registrant has elected not to use the extended transition period for complying with any new or revised accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange Act. &#9744; </P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;1.03. Bankruptcy or Receivership. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As previously disclosed, Tidewater Inc. (&#147;Tidewater&#148; or the &#147;Company&#148;) and certain of its subsidiaries (collectively, the
&#147;Debtors&#148;) filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware (the &#147;Bankruptcy Cases,&#148; and such court, the
&#147;Bankruptcy Court&#148;) on May&nbsp;17, 2017. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On July&nbsp;17, 2017, the Bankruptcy Court issued a written order (the &#147;Confirmation
Order&#148;) approving the Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization of the Debtors, as modified by the Confirmation Order (the &#147;Plan&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Debtors anticipate that the effective date of the Plan (as defined in the Plan, the &#147;Effective Date&#148;) will occur, and the transactions
contemplated by the Plan will be consummated, as soon as all conditions precedent to the Plan have been satisfied or waived. Although the Debtors are targeting the Effective Date to occur by the end of July 2017, the Debtors give no assurance as to
when, or ultimately if, the Plan will become effective. It is also possible that technical amendments could be made to the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following is a
summary of the material terms of the Plan. This summary highlights only certain substantive provisions of the Plan and is not intended to be a complete description of the Plan. This summary is qualified in its entirety by reference to the full text
of the Plan and the Confirmation Order, which are attached as Exhibits 2.1 and 99.1, respectively, and incorporated herein by reference. Capitalized terms used but not defined in this Current Report on Form 8-K shall have the meanings ascribed to
them in the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>The Plan of Reorganization and Treatment of Claims and Interests </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Plan contemplates the following treatment of claims against and interests in the Debtors: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">The lenders under the Credit Agreement, the holders of Notes, and the lessor parties (the &#147;Sale Leaseback Parties&#148;) to certain sale leaseback agreements (the &#147;Sale Leaseback Agreements&#148;) holding
claims thereunder (collectively, the &#147;General Unsecured Creditors&#148; and the claims thereof, the &#147;General Unsecured Claims&#148;) will receive their pro rata share of (a)&nbsp;$225 million of cash, (b)&nbsp;subject to the considerations
discussed below, common stock and, if applicable, warrants (the &#147;New Creditor Warrants&#148;) to purchase common stock, representing 95% of the pro forma common equity in reorganized Tidewater (subject to dilution by a management incentive plan
and the exercise of warrants issued to existing stockholders under the Plan as described below); and (c)&nbsp;new 8% fixed rate secured notes due in 2022 in the aggregate principal amount of $350 million (the &#147;New Secured Notes&#148;).
</TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">The Company and the Sale Leaseback Parties are not in agreement with respect to the amount of claims of the Sale Leaseback
Parties (the &#147;Sale Leaseback Claims&#148;). Accordingly, on the Effective Date, a portion of the cash, New Creditor Warrants, and New Secured Notes referenced above, in an amount that the Company believes represents the maximum possible
distributions owing on account of such disputed Sale Leaseback Claims, will be withheld from distributions to General Unsecured Creditors and will be distributed according to the terms of the Plan as they are resolved. To the extent the Sale
Leaseback Claims are resolved for less than the amount withheld, the remainder will thereafter be distributed to holders of allowed General Unsecured Claims pro rata. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">To assure the continuing ability of certain vessels owned by the Company&#146;s subsidiaries to engage in U.S. coastwise trade, the number of
shares of the Company&#146;s common stock that would </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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otherwise be issuable to the allowed General Unsecured Creditors may be adjusted to assure that the foreign ownership limitations of the United States Jones Act are not exceeded. The Jones Act
requires any corporation that engages in coastwise trade be a U.S. citizen within the meaning of that law, which requires, among other things, that the aggregate ownership of common stock by non-U.S. citizens within the meaning of the Jones Act be
not more than 25% of its outstanding common stock. The Plan requires that, at the time Tidewater emerges from bankruptcy, not more than 22% of the outstanding common stock will be held by non-U.S. citizens. To that end, the Plan provides for the
issuance of a combination of common stock of reorganized Tidewater and the New Creditor Warrants to purchase common stock of reorganized Tidewater on a pro rata basis to any non-U.S. citizen among the allowed General Unsecured Creditors whose
ownership of common stock, when combined with the shares to be issued to other General Unsecured Creditors and existing Tidewater stockholders that are non-U.S. citizens, would otherwise cause the 22% threshold to be exceeded. The New Creditor
Warrants will not grant the holders thereof any voting or control rights or dividend rights, or contain any negative covenants restricting the operation of the Company&#146;s business. Generally, the New Creditor Warrants will be transferable and
will be exercisable immediately at a nominal exercise price, subject to restrictions contained in the Company&#146;s new certificate of incorporation and the New Creditor Warrants designed to assure the Company&#146;s continuing eligibility to
engage in coastwise trade under the Jones Act that prohibit the exercise of such warrants where such exercise would cause the total number of shares held by non-U.S. citizens to exceed 24% of the Company&#146;s outstanding common stock. Tidewater
will establish, under its charter and through DTC, appropriate measures to assure compliance with these ownership limitations. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">The Company&#146;s existing shares of common stock will be cancelled as of the Effective Date. Existing common stockholders of Tidewater will receive their pro rata share of common stock representing 5% of the pro forma
common equity in reorganized Tidewater (subject to dilution by a management incentive plan and the exercise of warrants issued to existing stockholders under the Plan) and six-year warrants to purchase additional shares of common stock of
reorganized Tidewater. These warrants will be issued in two tranches, with the first tranche (the &#147;Series A Warrants&#148;) being exercisable immediately, at an aggregate exercise price based upon an equity value of the Company of approximately
$1.71 billion, and the second tranche (the &#147;Series B Warrants&#148;) being exercisable immediately, at an aggregate exercise price based upon an equity value of the Company of $2.02 billion. The Series A Warrants will be exercisable for a
number of shares equal to 7.5% of the sum of (i)&nbsp;the total outstanding shares of common stock after completion of the transactions contemplated by the Plan, and (ii)&nbsp;any shares issuable upon exercise of the New Creditor Warrants and the
Series A Warrants, while the Series B Warrants will be exercisable for a number of shares equal to 7.5% of the sum of (x)&nbsp;the total outstanding shares of common stock after completion of the transactions contemplated by the Plan, and
(y)&nbsp;any shares issuable upon the exercise of the New Creditor Warrants, the Series A Warrants, and Series B Warrants. Like the New Creditor Warrants, the Series A Warrants and the Series B Warrants will not grant the holders thereof any voting
or control rights or dividend rights, or contain any negative covenants restricting the operation of the Company&#146;s business and will be subject to the restrictions in the Company&#146;s new certificate of incorporation described above that
prohibit the exercise of such warrants where such exercise would cause the total number of shares held by non-U.S. citizens to exceed 24% of the Company&#146;s outstanding common stock. If at any time during the 180-day period ending on the
expiration of the Series A Warrants or the Series B Warrants, the exercise of the Series A Warrants or the Series B Warrants is prohibited because of the Jones Act limitations on ownership by non-U.S. citizens, a holder thereof that is a non-U.S.
citizen may receive from the Company a warrant in form substantially similar to the New Creditor Warrant in lieu of each share which would have been issued upon the exercise of the Series A Warrants or the Series B Warrants. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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<TD ALIGN="left" VALIGN="top">The undisputed claims of other unsecured creditors such as customers, employees, and vendors, will be paid in full in the ordinary course of business (except as otherwise agreed among the parties). </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless otherwise specified, the treatment set forth in the Plan and Confirmation Order will be in full satisfaction of all claims against and interests in the
Debtors, which will be discharged on the Effective Date. All of the Company&#146;s existing common stock will be extinguished by the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Share
Information </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of July&nbsp;14, 2017, the Company had 47,117,676 shares of common stock issued and outstanding. By operation of the Plan, on the
Effective Date, all shares of the Company&#146;s common stock will be cancelled and will permanently cease to exist, and new common shares (the &#147;New Common Shares&#148;) will be issued as set forth in the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Plan provides that 30,000,000 New Common Shares will be issued or reserved for issuance on the Effective Date as follows (the &#147;Effective Date
Shares&#148;): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">5% to holders of existing Tidewater common stock as of the Effective Date, and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">95% to General Unsecured Creditors, which may be issued as New Common Shares or, if more than 22% of the outstanding common stock on the date of emergence would otherwise be held by non-U.S. citizens, in a combination
of New Common Shares and New Creditor Warrants, which would be exercisable for New Common Shares as described above under the heading, &#147;<I>The Plan of Reorganization and Treatment of Claims and Interests</I>.&#148; </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition to the Effective Date Shares, the pre-emergence holders of common stock will receive Series A Warrants and Series B Warrants, as described above
under the heading, &#147;<I>The Plan of Reorganization and Treatment of Claims and Interests,</I>&#148; for each share of pre-emergent Tidewater common stock that they own. To satisfy those obligations, the Company will reserve an additional 7.5% of
the New Common Shares for issuance upon the potential exercise of the Series A Warrants and an additional 7.5% for issuance upon the potential exercise of the Series B Warrants. Finally, the Company will reserve 8% of the New Common Shares, on a
fully-diluted basis, for issuance under the Management Incentive Plan (as described below under &#147;<I>Management Incentive Plan</I>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
Amended and Restated Certificate of Incorporation of the Company, which is expected to be filed with the Secretary of State of the State of Delaware on or prior to the Effective Date, authorizes 128,000,000 New Common Shares, of which 125,000,000
shall be common stock, par value $0.001 per share, and 3,000,000 shall be preferred stock, without par value. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Post-Emergence Governance and Management
</I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On the Effective Date, and in accordance with the terms of the Plan confirmed by the Bankruptcy Court, the term of any current members of the board
of directors of the Company will expire, and they will resign from the board with the exception of Jeffrey M. Platt who will remain on the board and continue in office as Chief Executive Officer, and a new board of directors of the Company (the
&#147;New Board&#148;) will take office. The Company&#146;s New Board will initially consist of Thomas Robert Bates, Jr., Alan Carr, Randee Day, Dick Fagerstal, Steven Newman, Larry Rigdon, and Jeffrey M. Platt. The Company&#146;s current officers
will continue to serve as officers of the Company on and after the Effective Date at the pleasure of the New Board. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Management Incentive Plan </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As part of the Plan, the Bankruptcy Court approved and the Company will adopt the Tidewater Inc. 2017 Stock Incentive Plan, the Management Incentive Plan (the
&#147;MIP&#148;), which is an equity-based compensation plan for key employees, officers and directors pursuant to which the Company may issue up to 8% of the fully diluted New Common Shares in the form of stock options, restricted stock, restricted
stock units, and other equity- or cash-based awards on such terms and conditions as may be determined by the New Board or a committee thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Settlement, Releases and Exculpations </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Plan
incorporates an integrated compromise and settlement of claims to achieve a beneficial and efficient resolution of the Company&#146;s chapter 11 cases. Unless otherwise specified, the settlement, distributions, and other benefits provided under the
Plan, including the releases and exculpation provisions included therein, are in full satisfaction of all claims and causes of action that could be asserted. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Plan provides releases and exculpations for the benefit of the Debtors, certain of the Debtors&#146; claimholders, other parties in interest and various
parties related thereto, each in their capacity as such, from various claims and causes of action, as further set forth in Article X of the Plan entitled Effect of Confirmation of Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Assets and Liabilities </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of May&nbsp;31, 2017, total
assets of the Company and its consolidated subsidiaries were approximately $4.2 billion and total liabilities were approximately $2.4 billion. This financial information has not been audited or reviewed by the Company&#146;s independent registered
public accounting firm and may be subject to future reconciliation or adjustments. This information should not be viewed as indicative of future results. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;8.01. Other Events. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On July&nbsp;13, 2017,
Tidewater issued a press release announcing the Bankruptcy Court&#146;s confirmation of the Plan. A copy of the press release is filed as Exhibit 99.2 to, and incorporated by reference into, this Current Report on Form 8-K. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company cautions that trading in its securities during the pendency of the Bankruptcy Cases is highly speculative and poses substantial risks. As
discussed above, the Plan has been approved by the Bankruptcy Court, and pursuant to the Plan, the Company&#146;s common stock, as well as unexercised options, warrants or rights to acquire or receive an equity interest in the Company, in each case,
outstanding immediately prior to effectiveness of the Plan, will be cancelled and cease to exist on the Effective Date, and the holders of the Company&#146;s common stock will receive only the pro rata portion of New Common Shares as set forth in
the Plan. Even though the Company&#146;s common stock continues to trade on the New York Stock Exchange (the &#147;NYSE&#148;), under the Plan, its underlying value may be significantly less than the current trading price on the NYSE, and the
Company&#146;s stockholders should not view the trading activity of the Company&#146;s common stock on the NYSE or any other market or trading platform as being indicative of any value they would receive in respect of the Company&#146;s common stock
in connection with the Bankruptcy Cases. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company notes that certain statements set forth in
this Current Report on Form 8-K provide other than historical information and are forward looking. The actual achievement of any forecasted results, or the unfolding of future economic or business developments in a way anticipated or projected by
the Company, involve numerous risks and uncertainties that may cause the Company&#146;s actual performance to be materially different from that stated or implied in the forward-looking statement. Among those risks and uncertainties, many of which
are beyond the control of the Company, including, without limitation, the ability to satisfy the conditions necessary to declare the Plan effective in the anticipated timeframe; effects on the market price of the Company&#146;s common stock and on
the Company&#146;s ability to access the capital markets; volatility in worldwide energy demand and oil and gas prices, and continuing depressed levels of oil and gas prices, without a clear indication of if, or when, prices will recover to a level
to support renewed offshore exploration activities; consolidation of our customer base; fleet additions by competitors and industry overcapacity; our views with respect to the need for and timing of the replenishment of our asset base, including
through acquisitions or vessel construction; changes in capital spending by customers in the energy industry for offshore exploration, field development and production; loss of a major customer; changing customer demands for vessel specifications,
which may make some of our older vessels technologically obsolete for certain customer projects or in certain markets; delays and other problems associated with vessel construction and maintenance; uncertainty of global financial market conditions
and difficulty in accessing credit or capital; potential difficulty in meeting financial covenants in material debt or other obligations of the Company or in obtaining covenant relief from lenders or other contract parties; acts of terrorism and
piracy; integration of acquired businesses and entry into new lines of business; disagreements with our joint venture partners; significant weather conditions; unsettled political conditions, war, civil unrest and governmental actions, such as
expropriation or enforcement of customs or other laws that are not well developed or consistently enforced, or requirements that services provided locally be paid in local currency, in each case especially in higher political risk countries where we
operate; foreign currency fluctuations; labor changes proposed by international conventions; increased regulatory burdens and oversight; changes in laws governing the taxation of foreign source income; retention of skilled workers; enforcement of
laws related to the environment, labor and foreign corrupt practices; and the resolution of pending legal proceedings. Readers should consider all of these risk factors as well as other information contained in this report. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01. Financial Statements and Exhibits. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d)
The exhibits to this Current Report on Form 8-K are listed in the Exhibit Index, which appears at the end of this report and is incorporated into this Form 8-K by reference. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


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<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">TIDEWATER INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Bruce D. Lundstrom</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Bruce D. Lundstrom</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Executive Vice President, General Counsel and Secretary</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: July&nbsp;17, 2017 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD WIDTH="90%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Exhibit&nbsp;No.</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>2.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Tidewater Inc. and Its Affiliated Debtors dated July 13, 2017.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Order Approving Debtors&#146; Disclosure Statement and Confirming the Debtors&#146; Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization, as entered by the Bankruptcy Court on July 17, 2017.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release issued by Tidewater Inc. dated as of July 13, 2017.</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>d159507dex21.htm
<DESCRIPTION>EX-2.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-2.1</TITLE>
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 <BODY BGCOLOR="WHITE">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 2.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES BANKRUPTCY COURT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DISTRICT OF DELAWARE </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="45%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>x</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>:</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B></B><B><I>In re:</I></B><B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>:</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>Chapter 11</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>:</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>TIDEWATER INC.,</B> <B><I>et al.,</I></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>:</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>Case <FONT STYLE="white-space:nowrap">No.&nbsp;17-11132</FONT> (BLS)</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>:</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>(Jointly Administered)</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:4.00em; font-size:10pt; font-family:Times New Roman"><B>Debtors.<SUP STYLE="font-size:85%; vertical-align:top">
</SUP></B><SUP STYLE="font-size:85%; vertical-align:top">1</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>:</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="middle"> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle"><B>x</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECOND AMENDED JOINT PREPACKAGED CHAPTER 11 PLAN OF REORGANIZATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>OF TIDEWATER INC. AND ITS AFFILIATED DEBTORS </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WEIL, GOTSHAL&nbsp;&amp; MANGES LLP</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ray
C. Schrock, P.C.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jill Frizzley</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Andriana Georgallas</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">767 Fifth Avenue</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10153</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Telephone: (212) <FONT STYLE="white-space:nowrap">310-8000</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Facsimile: (212) <FONT STYLE="white-space:nowrap">310-8007</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>RICHARDS, LAYTON&nbsp;&amp; FINGER, P.A.</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Daniel J. DeFranceschi (No. 2732)</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Zachary I. Shapiro (No.
5103)</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">One Rodney Square</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">920 North King Street</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wilmington, Delaware 19801</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Telephone: (302) <FONT
STYLE="white-space:nowrap">651-7700</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Facsimile: (302) <FONT STYLE="white-space:nowrap">651-7701</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Alfredo R. P&eacute;rez</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chris L&oacute;pez</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">700 Louisiana, Suite 1700</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Houston, Texas 77002</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Telephone: (713) <FONT STYLE="white-space:nowrap">546-5000</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Facsimile: (713) <FONT STYLE="white-space:nowrap">224-9511</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><I>Counsel for Debtors and Debtors in Possession</I></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><I>Counsel for Debtors and Debtors in Possession</I></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Dated:&nbsp;&nbsp;&nbsp;&nbsp;July&nbsp;13, 2017</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wilmington, Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD ALIGN="left" VALIGN="top"><SUP STYLE="font-size:85%; vertical-align:top"></SUP>The Debtors in these chapter 11 cases, along with the last four digits of each Debtor&#146;s federal tax identification number, if any, are: Tidewater Inc. (7776),
Tidewater Marine Western, Inc. (1064), Tidewater Corporate Services, L.L.C. (7776), Tidewater Marine, L.L.C. (7779), Cajun Acquisitions, LLC (2365), Gulf Fleet Supply Vessels, L.L.C. (2194), Hilliard Oil&nbsp;&amp; Gas, Inc. (4727), Java Boat
Corporation (0278), Pan Marine International Dutch Holdings, L.L.C., Point Marine, L.L.C. (9586), Quality Shipyards, L.L.C. (2335), S.O.P., Inc. (3464), Tidewater Marine Alaska, Inc. (7549), Tidewater Marine International Dutch Holdings, L.L.C.
(2289), Tidewater Marine Sakhalin, L.L.C. (7779), Tidewater Mexico Holding, L.L.C. (8248), Tidewater Venture, Inc. (7694), Twenty Grand (Brazil), L.L.C. (7730), Twenty Grand Marine Service, L.L.C. (7730), Zapata Gulf Marine, L.L.C. (5513), Tidewater
GOM, Inc. (2799), Tidewater Subsea, L.L.C. (2022), Tidewater Subsea ROV, L.L.C. (3832), Tidewater Marine Fleet, L.L.C., Tidewater Marine Hulls, L.L.C., Tidewater Marine Ships, L.L.C., and Tidewater Marine Vessels, L.L.C. The Debtors&#146; principal
offices are located at 601 Poydras Street, Suite 1500, New Orleans, Louisiana 70130. </TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Table of Contents </U></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>ARTICLE I</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">DEFINITIONS AND INTERPRETATION</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">A.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Definitions. The following terms shall have the respective meanings specified below:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">B.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Interpretation; Application of Definitions and Rules of Construction</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">C.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reference to Monetary Figures</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">D.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Controlling Document</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>ARTICLE&nbsp;II</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ADMINISTRATIVE EXPENSE AND PRIORITY CLAIMS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Administrative Expense Claims</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fee Claims</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Priority Tax Claims</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>ARTICLE&nbsp;III</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">CLASSIFICATION OF CLAIMS AND INTERESTS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Classification in General</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Formation of Debtor Groups for Convenience Only</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Summary of Classification</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Special Provision Governing Unimpaired Claims</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Elimination of Vacant Classes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>ARTICLE&nbsp;IV</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">TREATMENT OF CLAIMS AND INTERESTS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claims (Class 1)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Secured Claims (Class 2)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General Unsecured Claims (Class 3)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other General Unsecured Claims (Class 4)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intercompany Claims (Class 5)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intercompany Interests (Class 6)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Tidewater Parent Interests (Class 7)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Subordinated Securities Claims (Class 8)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>ARTICLE&nbsp;V</B></P></TD>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">MEANS FOR IMPLEMENTATION</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.1.</P></TD>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Compromise and Settlement of Claims, Interests, and Controversies</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Continued Corporate Existence</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Plan Funding</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.4.</P></TD>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cancellation of Existing Securities and Agreements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Table of Contents </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(continued) </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.5.</P></TD>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Authorization and Issuance of New Common Stock and New Warrants</P></TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.6.</P></TD>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;1145 Exemption</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Officers and Boards of Directors</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restructuring Transactions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.9.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cancellation of Liens</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.10.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">New Indenture</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.11.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Registration Rights Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.12.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Employee Matters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.13.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Nonconsensual Confirmation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.14.</P></TD>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Closing of Chapter 11 Cases</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
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<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.15.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notice of Effective Date</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
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<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.16.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Separability</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
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<TD HEIGHT="8"></TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>ARTICLE&nbsp;VI</B></P></TD>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">DISTRIBUTIONS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
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<TD HEIGHT="8"></TD>
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<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Distributions Generally</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
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<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Distribution Record Date</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Date of Distributions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Disbursing Agent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rights and Powers of Disbursing Agent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expenses of Disbursing Agent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Postpetition Interest on Claims</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Delivery of Distributions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.9.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Distributions to Class&nbsp;3 General Unsecured Claims</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.10.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Distributions after Effective Date</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.11.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unclaimed Property</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.12.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Time Bar to Cash Payments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.13.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Manner of Payment under Plan</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.14.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Satisfaction of Claims</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.15.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fractional Stock</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.16.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Minimum Cash Distributions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.17.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Setoffs and Recoupments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Table of Contents </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(continued) </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.18.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Allocation of Distributions between Principal and Interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.19.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Distribution in Excess of Amount of Allowed Claim</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.20.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Withholding and Reporting Requirements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.21.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Hart-Scott-Rodino Antitrust Improvements Act</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>ARTICLE&nbsp;VII</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">PROCEDURES FOR DISPUTED CLAIMS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Disputed Claims Process</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Estimation of Claims</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Distributions Pending Allowance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Distributions after Allowance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Disputed Claims Reserve</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Claim Resolution Procedures Cumulative</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>ARTICLE&nbsp;VIII</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EXECUTORY CONTRACTS AND UNEXPIRED LEASES</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General Treatment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Determination of Assumption Disputes and Deemed Consent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of Assumption of Contracts and Leases</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rejection Claims of Sale Leaseback Parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Survival of Debtors&#146; Indemnification Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Insurance Policies</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intellectual Property Licenses and Agreements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Modifications, Amendments, Supplements, Restatements, or Other Agreements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.9.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reservation of Rights</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>ARTICLE&nbsp;IX</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">CONDITIONS PRECEDENT TO CONFIRMATION OF PLAN AND EFFECTIVE DATE</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conditions Precedent to Confirmation of Plan</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conditions Precedent to Effective Date</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waiver of Conditions Precedent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of Failure of a Condition</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iii </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Table of Contents </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(continued) </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
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<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>ARTICLE&nbsp;X</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EFFECT OF CONFIRMATION OF PLAN<I> </I></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Vesting of Assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Binding Effect</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Discharge of Claims and Termination of Interests</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Term of Injunctions or Stays</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Injunction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Releases</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exculpation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Subordinated Claims</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.9.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Retention of Causes of Action/Reservation of Rights</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.10.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Solicitation of Plan</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.11.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Corporate and Limited Liability Company Action</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>ARTICLE&nbsp;XI</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">RETENTION OF JURISDICTION</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Retention of Jurisdiction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Courts of Competent Jurisdiction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>ARTICLE&nbsp;XII</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">MISCELLANEOUS PROVISIONS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment of Statutory Fees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Substantial Consummation of the Plan</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Plan Supplement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Request for Expedited Determination of Taxes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exemption from Certain Transfer Taxes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Amendments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effectuating Documents and Further Transactions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revocation or Withdrawal of Plan</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.9.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Severability of Plan Provisions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.10.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Governing Law</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.11.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Time</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.12.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dates of Actions to Implement the Plan</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.13.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Immediate Binding Effect</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iv </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Table of Contents </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(continued) </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.14.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deemed Acts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.15.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successor and Assigns</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.16.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Entire Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.17.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibits to Plan</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.18.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
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<TD VALIGN="top">Schedule 1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Restructuring Support Agreement (<I>intentionally omitted</I>)</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Sale Leaseback Agreements</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">v </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Tidewater Inc., Tidewater Marine Western, Inc., Tidewater Corporate Services, L.L.C., Tidewater
Marine, L.L.C., Cajun Acquisitions, LLC, Gulf Fleet Supply Vessels, L.L.C., Hilliard Oil&nbsp;&amp; Gas, Inc., Java Boat Corporation, Pan Marine International Dutch Holdings, L.L.C., Point Marine, L.L.C., Quality Shipyards, L.L.C., S.O.P., Inc.,
Tidewater Marine Alaska, Inc., Tidewater Marine International Dutch Holdings, L.L.C., Tidewater Marine Sakhalin, L.L.C., Tidewater Mexico Holding, L.L.C., Tidewater Venture, Inc., Twenty Grand (Brazil), L.L.C., Twenty Grand Marine Service, L.L.C.,
Zapata Gulf Marine, L.L.C., Tidewater GOM, Inc., Tidewater Subsea, L.L.C., Tidewater Subsea ROV, L.L.C., Tidewater Marine Fleet, L.L.C., Tidewater Marine Hulls, L.L.C., Tidewater Marine Ships, L.L.C., and Tidewater Marine Vessels, L.L.C. (each, a
&#147;<B>Debtor</B>&#148; and, collectively, the &#147;<B>Debtors</B>&#148;) propose the following joint chapter 11 plan of reorganization pursuant to section 1121(a) of the Bankruptcy Code. Capitalized terms used herein shall have the meanings set
forth in Article I.A. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE I&nbsp;&nbsp;&nbsp;&nbsp;DEFINITIONS AND INTERPRETATION. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;<B>Definitions. </B>The following terms shall have the respective meanings specified below: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2010 Noteholder</I></B> means a holder of 2010 Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2010 Note Purchase Agreement</I></B> means that certain Note Purchase Agreement, dated as of
September&nbsp;9, 2010, by and among Tidewater Parent and certain other Debtors, as issuers and obligors, the guarantors party thereto, and the note purchasers party thereto, as amended, modified, or otherwise supplemented from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.3&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2010 Notes</I></B> means, collectively, (a)&nbsp;the 3.90% senior notes due December&nbsp;30, 2017 issued
pursuant to the 2010 Note Purchase Agreement in the aggregate principal outstanding amount of $44,500,000, (b)&nbsp;the 3.95% senior notes due December&nbsp;30, 2017 issued pursuant to the 2010 Note Purchase Agreement in the aggregate principal
outstanding amount of $25,000,000, (c)&nbsp;the 4.12% senior notes due December&nbsp;30, 2018 issued pursuant to the 2010 Note Purchase Agreement in the aggregate principal outstanding amount of $25,000,000, (d)&nbsp;the 4.17% senior notes due
December&nbsp;30, 2018 issued pursuant to the 2010 Note Purchase Agreement in the aggregate principal outstanding amount of $25,000,000, (e)&nbsp;the 4.33% senior notes due December&nbsp;30, 2019 issued pursuant to the 2010 Note Purchase Agreement
in the aggregate principal outstanding amount of $50,000,000, (f)&nbsp;the 4.51% senior notes due December&nbsp;30, 2020 issued pursuant to the 2010 Note Purchase Agreement in the aggregate principal outstanding amount of $100,000,000, (g)&nbsp;the
4.56% senior notes due December&nbsp;30, 2020 issued pursuant to the 2010 Note Purchase Agreement in the aggregate principal outstanding amount of $65,000,000, and (h)&nbsp;the 4.61% senior notes due December&nbsp;30, 2022 issued pursuant to the
2010 Note Purchase Agreement in the aggregate principal outstanding amount of $48,000,000, plus all accrued unpaid prepetition interest, costs, fees, premiums as Allowed, and other amounts due under the 2010 Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.4&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2010 Notes Claim</I></B> means any Claim arising from, or related to, the 2010 Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.5&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2011 Noteholder</I></B> means a holder of 2011 Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.6&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2011 Note Purchase Agreements</I></B> means those two certain Note Purchase Agreements, each dated as of
August&nbsp;15, 2011, by and among Tidewater Parent and certain other Debtors, as issuers and obligors, the guarantors party thereto, and the note purchasers party thereto, as amended, modified, or otherwise supplemented from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.7&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2011 Notes</I></B> means the 2011 Series A and B Notes and the 2011 Series C Notes. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.8&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2011 Notes Claim</I></B> means any Claim arising from, or
related to, the 2011 Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.9&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2011 Series A Notes</I></B> means the 4.06% senior notes due March&nbsp;31,
2019 issued pursuant to the 2011 Note Purchase Agreements in the aggregate principal outstanding amount of $50,000,000, plus all accrued unpaid prepetition interest, costs, fees, premiums as Allowed, and other amounts due under the 2011 Series A
Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.10&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2011 Series A and B Notes</I></B> means the 2011 Series A Notes and the 2011 Series B Notes.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.11&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2011 Series B Notes</I></B> means the 4.64% senior notes due June&nbsp;30, 2021 issued pursuant to the
2011 Note Purchase Agreements in the aggregate principal outstanding amount of $50,000,000, plus all accrued unpaid prepetition interest, costs, fees, premiums as Allowed, and other amounts due under the 2011 Series B Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.12&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2011 Series C Notes</I></B> means the 4.54% senior notes due June&nbsp;30, 2021 issued pursuant to the 2011
Note Purchase Agreements in the aggregate principal outstanding amount of $65,000,000, plus all accrued unpaid prepetition interest, costs, fees, premiums as Allowed, and other amounts due under the 2011 Series C Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.13&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2013 Noteholder</I></B> means a holder of 2013 Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.14&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2013 Note Purchase Agreement</I></B> means that certain Note Purchase Agreement, dated as of
September&nbsp;30, 2013, by and among Tidewater Parent and certain other Debtors, as issuers and obligors, the guarantors party thereto, and the note purchasers party thereto, as amended, modified, or otherwise supplemented from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.15&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2013 Notes</I></B> means collectively, (a)&nbsp;the 4.26% senior notes due November&nbsp;16, 2020 issued
pursuant to the 2013 Note Purchase Agreement in the aggregate principal outstanding amount of $123,000,000, (b)&nbsp;the 5.01% senior notes due November&nbsp;15, 2023 issued pursuant to the 2013 Note Purchase Agreement in the aggregate principal
outstanding amount of $250,000,000, and (c)&nbsp;the 5.16% senior notes due November&nbsp;17, 2025 issued pursuant to the 2013 Note Purchase Agreement in the aggregate principal outstanding amount of $127,000,000, plus all accrued unpaid prepetition
interest, costs, fees, premiums as Allowed, and other amounts due under the 2013 Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.16&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2013 Notes
Claim</I></B> means any Claim arising from, or related to, the 2013 Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.17&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Administrative Expense
Claim</I></B> means a Claim for costs and expenses of administration incurred during the Chapter 11 Cases of a kind specified under section 503(b) of the Bankruptcy Code and entitled to priority under sections 507(a)(2) or 507(b) of the Bankruptcy
Code, including, without limitation, (a)&nbsp;the actual and necessary costs and expenses incurred after the Petition Date and through the Effective Date of preserving the Estates and operating the businesses of the Debtors (such as wages, salaries,
or commissions for services and payments for goods and other services and leased premises), (b)&nbsp;Fee Claims, and (c)&nbsp;all fees and charges assessed against the Estates pursuant to section 1911 through 1930 of chapter 123 of title 28 of the
United States Code, 28 U.S.C. <FONT STYLE="white-space:nowrap">&#167;&#167;&nbsp;1-1401.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.18&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Affiliates </I></B>has the meaning set forth in section 101(2) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.19&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Allowed</I></B> means, with reference to any Claim or Interest, a Claim or Interest (a)&nbsp;arising on or
before the Effective Date as to which (i)&nbsp;no objection to allowance or priority, and no request for estimation or other challenge, including, without limitation, pursuant to section 502(d) of the Bankruptcy Code or otherwise, has been
interposed and not withdrawn within the applicable period fixed by the Plan </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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or applicable law, or (ii)&nbsp;any objection has been determined in favor of the holder of the Claim or Interest by a Final Order, (b)&nbsp;that is compromised, settled, or otherwise resolved
pursuant to the authority of the Debtors or Reorganized Debtors, (c)&nbsp;as to which the liability of the Debtors or Reorganized Debtors, as applicable, and the amount thereof are determined by a Final Order of a court of competent jurisdiction, or
(d)&nbsp;expressly allowed hereunder; <I>provided</I>,<I> however</I>, that notwithstanding the foregoing, (x)&nbsp;unless expressly waived by the Plan, the Allowed amount of Claims or Interests shall be subject to and shall not exceed the
limitations or maximum amounts permitted by the Bankruptcy Code, including sections 502 or 503 of the Bankruptcy Code, to the extent applicable, and (y)&nbsp;the Reorganized Debtors shall retain all claims and defenses with respect to Allowed Claims
that are Reinstated or otherwise Unimpaired pursuant to the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.20&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Amended Organizational
Documents</I></B><B><I> </I></B>means (a)&nbsp;the Amended Tidewater Parent Organizational Documents and (b)&nbsp;the forms of certificates of incorporation, certificates of formation, limited liability company agreements, or other forms of
organizational documents and bylaws, as applicable, of the Reorganized Debtors (other than Tidewater Parent) to the extent such documents reflect material changes to each such Reorganized Debtor&#146;s existing forms of organizational documents and
bylaws, substantially final forms of such Amended Organizational Documents, which shall be in form and substance reasonably satisfactory to the Debtors or Reorganized Debtors, as applicable, the Requisite Consenting Noteholders, and the Requisite
Consenting Tidewater Lenders and consistent with section 1123(a)(6) of the Bankruptcy Code, if applicable, the forms of which shall be included in the Plan Supplement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.21&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Amended Tidewater Parent Organizational Documents</I></B> means the form of certificate of incorporation and
bylaws for Reorganized Tidewater Parent, which are annexed to the Restructuring Support Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.22&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Assumption Dispute</I></B><B><I> </I></B>means a pending objection relating to assumption of an executory
contract or unexpired lease pursuant to section 365 of the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.23&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Bankruptcy Code</I></B>
means title 11 of the United States Code, 11 U.S.C. &#167;&nbsp;101, <I>et seq.</I>, as amended from time to time, as applicable to the Chapter 11 Cases. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.24&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Bankruptcy Court</I></B> means the United States Bankruptcy Court for the District of Delaware having
jurisdiction over the Chapter 11 Cases. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.25&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Bankruptcy Rules</I></B> means the Federal Rules of Bankruptcy
Procedure as promulgated by the United States Supreme Court under section 2075 of title 28 of the United States Code and any Local Bankruptcy Rules of the Bankruptcy Court, in each case, as amended from time to time and applicable to the Chapter 11
Cases. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.26&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Benefit Plans</I></B> means (i)&nbsp;each&nbsp;&#147;employee benefit plan,&#148; as defined in
section 3(3) of ERISA and (ii)&nbsp;each other pension, retirement, supplemental retirement, bonus, incentive, equity or equity-based, health, life, disability, group insurance, vacation, holiday, and fringe benefit plan, program, contract, or
arrangement, in each case whether written or unwritten, maintained, contributed to, or required to be contributed to, by the Debtors for the benefit of any of their current or former employees or independent contractors and existing as of the
Petition Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.27&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Business Day</I></B> means any day other than a Saturday, a Sunday, or any other day on
which banking institutions in New York, New York are required or authorized to close by law or executive order. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.28&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Cash</I></B> means legal tender of the United States of
America. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.29&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Causes of Action</I></B><B><I> </I></B>means<B> </B>any action, claim, cross-claim,
third-party claim, cause of action, controversy, demand, right, lien, indemnity, guaranty, suit, obligation, liability, loss, debt, damage, judgment, account, defense, remedies, offset, power, privilege, license and franchise of any kind or
character whatsoever, known, unknown, foreseen or unforeseen, existing or hereafter arising, contingent or <FONT STYLE="white-space:nowrap">non-contingent,</FONT> matured or unmatured, suspected or unsuspected, liquidated or unliquidated, disputed
or undisputed, secured or unsecured, assertable directly or derivatively, whether arising before, on, or after the Petition Date, in contract or in tort, in law or in equity or pursuant to any other theory of law (including, without limitation,
under any state or federal securities laws). Causes of Action also includes: (a)&nbsp;any right of setoff, counterclaim or recoupment and any claim for breach of contract or for breach of duties imposed by law or in equity, (b)&nbsp;the right to
object to Claims or Interests, (c)&nbsp;any claim pursuant to section 362 or chapter 5 of the Bankruptcy Code, (d)&nbsp;any claim or defense including fraud, mistake, duress, and usury and any other defenses set forth in section 558 of the
Bankruptcy Code, and (e)&nbsp;any state law fraudulent transfer claim. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.30&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Certificate</I></B> means that
certain officer&#146;s certificate to be addressed to the holders of the New Secured Notes and delivered by the Debtors to the New Indenture Trustee on the Effective Date, which is annexed to the Restructuring Support Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.31&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Chapter 11 Cases</I></B> means the jointly administered cases under chapter 11 of the Bankruptcy Code
commenced by the Debtors on the Petition Date in the Bankruptcy Court. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.32&nbsp;&nbsp;&nbsp;&nbsp;<B><I>CIC Agreements</I></B> means
those certain change of control agreements designated with an asterisk on Schedule 5(c) of the Restructuring Support Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.33&nbsp;&nbsp;&nbsp;&nbsp;<B><I>CIC Waiver Letters</I></B> means those certain executed written agreements, in form and substance approved
by the Requisite Consenting Tidewater Lenders and the Requisite Consenting Noteholders, by and between Tidewater Parent and the employees party to the CIC Agreements, pursuant to which such parties agreed that, subject to the terms of the CIC Waiver
Letters, neither the occurrence of the Effective Date nor the consummation of the Plan or any transaction contemplated thereby as of the date hereof shall constitute a &#147;Change of Control&#148; for purposes of any such CIC Agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.34&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Claim</I></B> has the meaning set forth in section 101(5) of the Bankruptcy Code as against any Debtor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.35&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Class</I></B> means any group of Claims or Interests classified as set forth in Article III of the Plan
pursuant to sections 1122 and 1123(a)(1) of the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.36&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Class 3 Distribution Date</I></B>
means (a)&nbsp;the Class&nbsp;3 Initial Distribution Date or (b)&nbsp;the Class&nbsp;3 Final Distribution Date, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.37&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Class 3 Final Distribution Date</I></B> means, with respect to the Class&nbsp;of General Unsecured Claims
(Class 3), a date after the Class&nbsp;3 Initial Distribution Date and after all Disputed Claims in the Class&nbsp;of General Unsecured Claims have become either Allowed Claims or Disallowed Claims that is selected by the Reorganized Debtors in
their reasonable discretion and in consultation with the Requisite Consenting Tidewater Lenders and the Requisite Consenting Noteholders, but in any event, is no more than thirty (30)&nbsp;days after all such Disputed Claims have become either
Allowed Claims or Disallowed Claims. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.38&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Class 3 Initial Distribution Date</I></B> means the Effective
Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.39&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Confirmation Date</I></B> means the date on which the Clerk of
the Bankruptcy Court enters the Confirmation Order. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.40&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Confirmation Hearing</I></B> means the hearing to
be held by the Bankruptcy Court to consider confirmation of the Plan, as such hearing may be adjourned, reconvened, or continued from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.41&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Confirmation Order</I></B> means the order of the Bankruptcy Court confirming the Plan pursuant to section
1129 of the Bankruptcy Code, which shall be in form and substance reasonably satisfactory to the Debtors, the Requisite Consenting Noteholders, and the Requisite Consenting Tidewater Lenders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.42&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Consenting 2010 Noteholders</I></B> means any holders of 2010 Notes that are party to the Restructuring
Support Agreement together with their respective successors and permitted assigns and any subsequent holders of 2010 Notes that become party to the Restructuring Support Agreement in accordance with the terms thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.43&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Consenting 2011 Series A and B Noteholders</I></B> means any holders of 2011 Series A and B Notes that are
party to the Restructuring Support Agreement together with their respective successors and permitted assigns and any subsequent holders of 2011 Series A and B Notes that become party to the Restructuring Support Agreement in accordance with the
terms thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.44&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Consenting 2011 Series C Noteholders</I></B> means any holders of 2011 Series C Notes
that are party to the Restructuring Support Agreement together with their respective successors and permitted assigns and any subsequent holders of 2011 Series C Notes that become party to the Restructuring Support Agreement in accordance with the
terms thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.45&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Consenting 2013 Noteholders</I></B> means any holders of 2013 Notes that are party to
the Restructuring Support Agreement together with their respective successors and permitted assigns and any subsequent holders of 2013 Notes that become party to the Restructuring Support Agreement in accordance with the terms thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.46&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Consenting Creditors</I></B> means the Consenting Noteholders, the Consenting Sale Leaseback Parties, if
any, and the Consenting Tidewater Lenders, and does not include any Affiliate of any of the foregoing unless such Affiliate is itself a signatory to the Restructuring Support Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.47&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Consenting Noteholders</I></B> means the Consenting 2010 Noteholders, the Consenting 2011 Series A and B
Noteholders, the Consenting 2011 Series C Noteholders and the Consenting 2013 Noteholders that are party to the Restructuring Support Agreement together with their respective successors and permitted assigns and any subsequent Noteholders that
become party to the Restructuring Support Agreement in accordance with the terms thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.48&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Consenting
Sale Leaseback Parties</I></B> means the Sale Leaseback Parties, if any, that are party to the Restructuring Support Agreement together with their respective successors and permitted assigns and any subsequent Sale Leaseback Parties that become
party to the Restructuring Support Agreement in accordance with the terms thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.49&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Consenting Tidewater
Lenders </I></B>means the Tidewater Lenders that are party to the Restructuring Support Agreement together with their respective successors and permitted assigns and any subsequent Tidewater Lenders that become party to the Restructuring Support
Agreement in accordance with the terms thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.50&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Credit Agreement</I></B> means that certain Fourth Amended and
Restated Credit Agreement, dated as of June&nbsp;21, 2013, between the Debtors, as borrowers, the guarantors party thereto, the lenders party thereto, the Credit Agreement Agent, and certain other parties thereto, as further amended, modified, or
supplemented from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.51&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Credit Agreement Agent</I></B> means Bank of America, N.A., solely in
its capacity as administrative agent under the Credit Agreement, and its successors and permitted assigns. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.52&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Credit Agreement Claim</I></B> means any Claim against the Debtors arising from, or related to, the Credit
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.53&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Creditors&#146; Committee</I></B> means the statutory committee of unsecured claimholders
appointed by the United States Trustee for Region 3 in the Chapter 11 Cases pursuant to section 1102 of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.54&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Cure</I></B> means the payment of Cash by the Debtors, or the distribution of other property (as the parties
may agree or the Bankruptcy Court may order), as necessary to (a)&nbsp;cure a monetary default by the Debtors in accordance with the terms of an executory contract or unexpired lease of the Debtors and (b)&nbsp;permit the Debtors to assume such
executory contract or unexpired lease pursuant to section 365 of the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.55&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Debtor or
Debtors</I></B><B><I> </I></B>has the meaning set forth in the introductory paragraph of the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.56&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Debtors in Possession</I></B><B><I> </I></B>means the Debtors in their capacity as debtors in possession in
the Chapter 11 Cases pursuant to sections 1101, 1107(a), and 1108 of the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.57&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Definitive
Documents</I></B><B><I> </I></B>means the documents, other than the Plan, including any related orders, agreements, instruments, schedules, or exhibits, that are contemplated herein and that are otherwise necessary or desirable to implement, or
otherwise relate to, the restructuring contemplated in the Restructuring Support Agreement and the Plan (including the Plan Supplement), including, but not limited to, (a)&nbsp;the Disclosure Statement, (b)&nbsp;the materials related to the
solicitation of the Plan, (c)&nbsp;the order entered by the Bankruptcy Court approving the Disclosure Statement and materials related to the solicitation of the Plan as containing, among other things, &#147;adequate information&#148; as required by
section 1125 of the Bankruptcy Code, (d)&nbsp;the Confirmation Order and the pleadings in support of entry of the Confirmation Order, (e)&nbsp;the Management Incentive Plan, (f)&nbsp;the New Indenture, (g)&nbsp;the New Creditor Warrant Agreement,
(h)&nbsp;the New Existing Equity Warrant Agreement, (i)&nbsp;the Registration Rights Agreement, (j)&nbsp;any documents included in the Plan Supplement, (k)&nbsp;the Amended Tidewater Parent Organizational Documents, (<I>l</I>)&nbsp;any other Amended
Organizational Documents and other related transactional or corporate documents (including, without limitation, any agreements and documents described in the Plan and customary closing deliverables required under the New Indenture, including
customary legal opinions in connection with the New Indenture), (m) the motions or pleadings seeking approval or confirmation of any of the foregoing transactional or corporate documents, including the motion to approve the Disclosure Statement,
confirm the Plan, ratify the solicitation of the Plan, and schedule a joint hearing, (n)&nbsp;the Rejection Motion, and (o)&nbsp;the Rejection Orders, each of which shall contain terms and conditions consistent in all material respects with the Plan
and shall otherwise be in form and substance reasonably satisfactory in all respects to the Debtors, the Requisite Consenting Noteholders and the Requisite Consenting Tidewater Lenders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.58&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Disallowed</I></B><B><I> </I></B>means, with respect to any Claim or Interest, that such Claim or Interest
has been determined by a Final Order or specified in a provision of the Plan not to be Allowed. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.59&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Disbursing Agent</I></B> means any Entity (including any
applicable Debtor if it acts in such capacity) in its capacity as a disbursing agent under Article VI of the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.60&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Disclosure Statement</I></B><B><I> </I></B>means the disclosure statement for the Plan, as supplemented from
time to time, which is prepared and distributed in accordance with sections 1125, 1126(b), and/or 1145 of the Bankruptcy Code, Bankruptcy Rules 3016 and 3018, and/or other applicable law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.61&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Disputed</I></B><B><I> </I></B>means with respect to a Claim or Interest, any such Claim or Interest
(a)&nbsp;that is neither Allowed nor Disallowed under the Plan or a Final Order, nor deemed Allowed under sections 502, 503, or 1111 of the Bankruptcy Code, including a Claim or Interest to which the Debtors or any party in interest has interposed a
request for estimation and such request for estimation has not been withdrawn or determined by a Final Order, or (b)&nbsp;for which a proof of claim for payment has been made and related to which the Debtors or any party in interest has interposed a
timely objection or request for estimation, and such objection or request for estimation has not been withdrawn or determined by a Final Order. If the Debtors dispute only a portion of a Claim, such Claim shall be deemed Allowed in any amount the
Debtors do not dispute and Disputed as to the balance of such Claim. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.62&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Disputed Claims Reserve</I></B>
means the reserve established pursuant to and governed by Section&nbsp;7.5 of the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.63&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Distribution
Record Date</I></B> means the date that is two (2)&nbsp;Business Days after the Confirmation Date. For the avoidance of doubt, the Distribution Record Date shall not apply to Existing Interests, the holders of which shall receive a distribution via
mandatory or deemed exchange in accordance with Section&nbsp;4.7 of the Plan on or as soon as practicable after the Effective Date.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.64&nbsp;&nbsp;&nbsp;&nbsp;<B><I>DTC </I></B>means The Depository Trust Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.65&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Effective Date</I></B> means the date on which all conditions to the effectiveness of the Plan set forth in
Article IX of the Plan have been satisfied or waived in accordance with the terms of the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.66&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Employment Arrangements</I></B> means, as to a current or former employee, officer, director, or contractor,
all employee terms of employment, compensation and Benefit Plans existing as of the Petition Date, including, without limitation, any employment, services, separation, retention, incentive, bonus, or related agreements or arrangements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.67&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Entity </I></B>means an individual, corporation, partnership, limited partnership, limited liability
company, association, joint stock company, joint venture, estate, trust, unincorporated organization, Governmental Unit or any political subdivision thereof, or other person (as defined in section 101(41) of the Bankruptcy Code) or other entity.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.68&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Equity Committee </I></B>means the statutory committee of equity security holders appointed by the
United States Trustee for Region 3 in the Chapter 11 Cases pursuant to section 1102 of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.69&nbsp;&nbsp;&nbsp;&nbsp;<B><I>ERISA </I></B>means the Employee Retirement Income Security Act of 1974, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.70&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Estate or Estates </I></B>means, individually or collectively, the estate or estates of the Debtors created
under section 541 of the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.71&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Exchange Act </I></B>means the Securities Exchange Act of
1934, as amended. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.72&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Exculpated Parties</I></B> means collectively: (a)&nbsp;the
Debtors, (b)&nbsp;the Reorganized Debtors, (c)&nbsp;the Creditors&#146; Committee, (d)&nbsp;the Equity Committee, and (e)&nbsp;with respect to each of the foregoing Entities in clauses (a)&nbsp;through (d), such Entities&#146; predecessors,
successors, and assigns, managed accounts or funds, current or former officers, directors, principals, shareholders, members, partners, employees, agents, financial advisors, attorneys, accountants, investment bankers, consultants, representatives,
management companies, and other professionals, and such Entities&#146; respective heirs, executors, estates, and nominees. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.73&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Existing Interests</I></B> means the common stock of Tidewater Parent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.74&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Fee Claim </I></B>means a Claim<B><I> </I></B>for professional services rendered or costs incurred on or
after the Petition Date through the Effective Date by professional persons retained in these Chapter 11 Cases by an order of the Bankruptcy Court pursuant to sections 327, 328, 329, 330, 331, 503(b), or 1103 of the Bankruptcy Code in the Chapter 11
Cases. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.75&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Final Order</I></B> means an order or judgment of a court of competent jurisdiction that has
been entered on the docket maintained by the clerk of such court, which has not been reversed, vacated, or stayed and as to which (a)&nbsp;the time to appeal, petition for <I>certiorari</I>, or move for a new trial, reargument, or rehearing has
expired and as to which no appeal, petition for <I>certiorari</I>, or other proceedings for a new trial, reargument, or rehearing shall then be pending, or (b)&nbsp;if an appeal, writ of <I>certiorari</I>, new trial, reargument, or rehearing thereof
has been sought, such order or judgment shall have been affirmed by the highest court to which such order was appealed, or <I>certiorari</I> shall have been denied, or a new trial, reargument, or rehearing shall have been denied or resulted in no
modification of such order, and the time to take any further appeal, petition for <I>certiorari</I> or move for a new trial, reargument, or rehearing shall have expired; <I>provided</I>,<I> however</I>, that no order or judgment shall fail to be a
&#147;Final Order&#148; solely because of the possibility that a motion under Rules 59 or 60 of the Federal Rules of Civil Procedure or any analogous Bankruptcy Rule (or any analogous rules applicable in another court of competent jurisdiction) or
sections 502(j) or 1144 of the Bankruptcy Code has been or may be filed with respect to such order or judgment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.76&nbsp;&nbsp;&nbsp;&nbsp;<B><I>General Unsecured Claim</I></B> <B><I>or General Unsecured Claims </I></B>means, individually, a Credit
Agreement Claim, Notes Claim, or Sale Leaseback Claim and, collectively, the Credit Agreement Claims, the Notes Claims, and the Sale Leaseback Claims. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.77&nbsp;&nbsp;&nbsp;&nbsp;<B><I>GIEK</I></B> means the Guarantee Institute for Export Credits, solely in its capacity as guarantor under the
Troms Credit Agreement, and its successors and permitted assigns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.78&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Governmental Unit</I></B> has the
meaning set forth in section 101(27) of the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.79&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Impaired</I></B> means, with respect to a
Claim, Interest, or Class&nbsp;of Claims or Interests, &#147;impaired&#148; within the meaning of sections 1123(a)(4) and 1124 of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.80&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Intercompany Claim</I></B><B><I> </I></B>means any Claim against a Debtor held by another Debtor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.81&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Intercompany Interest</I></B> means any Interests in any of the Debtors (other than Tidewater Parent),
including common stock, and any options, warrants, or rights to acquire any such Interests, held by another Debtor or an Affiliate thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.82&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Interest</I></B><B><I>s</I></B> means any equity security in a Debtor as defined in section 101(16) of the
Bankruptcy Code, including all common stock, preferred stock, or other instruments evidencing an ownership interest in any of the Debtors, whether or not transferable, and any option, warrant, right, or
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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any other interest that is exercisable, convertible, or exchangeable into equity of a Debtor, contractual or otherwise, including, without limitation, equity or equity-based incentives, grants,
or other instruments issued, granted, or promised to be granted to current or former employees, directors, officers, or contractors of the Debtors, to acquire any such interests in a Debtor that existed immediately before the Petition Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.83&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Interim Distribution Date </I></B>means, with respect to a Sale Leaseback Claim that is a Disputed Claim on
the Effective Date and thereafter becomes an Allowed Claim, the tenth (10th) Business Day after each quarterly interest payment date for the New Secured Notes, commencing with the first such date to occur after the Class&nbsp;3 Initial Distribution
Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.84&nbsp;&nbsp;&nbsp;&nbsp;<B><I>IRS</I></B> means the Internal Revenue Service. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.85&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Jones Act</I></B> means, collectively, the U.S. citizenship and cabotage laws principally contained in 46
U.S.C. &#167; 50501(a), (b) and (d)&nbsp;and 46 U.S.C. Chapters 121 and 551 and any successor statutes thereto, together with the rules and regulations promulgated thereunder by the U.S. Coast Guard and the U.S. Maritime Administration and their
practices enforcing, administering, and interpreting such laws, statutes, rules, and regulations, in each case as amended or supplemented from time to time, relating to the ownership and operation of U.S.-flag vessels in the U.S. coastwise trade.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.86&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Lien </I></B>has the meaning set forth in section 101(37) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.87&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Management Incentive Plan</I></B> means a post-emergence management incentive plan, the form of which is
annexed as an exhibit to the Restructuring Support Agreement, under which eight percent (8%) of the sum of the total number of (a)&nbsp;shares of New Common Stock to be outstanding as of the Effective Date under clause (v)&nbsp;of
Section&nbsp;4.3(c)(iii) and clause (i)&nbsp;of Section&nbsp;4.7(b) of the Plan plus shares of New Common Stock issuable upon exercise of the New Creditor Warrants issued under clause (w)&nbsp;of Section&nbsp;4.3(c)(iii) of the Plan as of the
Effective Date plus any shares of New Common Stock issuable upon exercise of the New Creditor Warrants reserved for issuance but not issued as of the Effective Date with respect to Claims which are Disputed Claims on the Effective Date by virtue of
the operation of Section&nbsp;6.9(a) of the Plan plus (b)&nbsp;shares of New Common Stock issuable upon exercise of the New Existing Equity Warrants and pursuant to the Management Incentive Plan, shall be reserved for issuance as awards thereunder.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.88&nbsp;&nbsp;&nbsp;&nbsp;<B><I>New Board</I></B> means the initial board of directors of Reorganized Tidewater Parent to be selected
in accordance with Section&nbsp;5.7 of the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.89&nbsp;&nbsp;&nbsp;&nbsp;<B><I>New Common Stock</I></B> means the 30,000,000 shares
of common stock, par value $.001 per share, of Reorganized Tidewater Parent issued pursuant to the Plan, inclusive of shares of New Common Stock to be issued upon exercise of the New Creditor Warrants. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.90&nbsp;&nbsp;&nbsp;&nbsp;<B><I>New Creditor Warrant Agreement</I></B> means the creditor warrant agreement by and between Reorganized
Tidewater Parent and the warrant agent named therein that shall govern the terms of the New Creditor Warrants (including any New Creditor Warrants that may be issued after the Effective Date), the form of which is annexed as an exhibit to the
Restructuring Support Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.91&nbsp;&nbsp;&nbsp;&nbsp;<B><I>New Creditor Warrants</I></B> means the warrants to be issued to
holders of Allowed Notes Claims, Allowed Credit Agreement Claims, and Allowed Sale Leaseback Claims, as provided in Section&nbsp;4.3(c) of the Plan, in accordance with the New Creditor Warrant Agreement entitling the holders thereof to purchase New
Common Stock with an exercise price per warrant equal to $.001 per share, and governed by the terms of the New Creditor Warrant Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.92&nbsp;&nbsp;&nbsp;&nbsp;<B><I>New Existing Equity Warrant Agreement</I></B> means the
existing equity warrant agreement by and between Reorganized Tidewater Parent and the warrant agent named therein that shall govern the terms of the New Existing Equity Warrants, the form of which is annexed as an exhibit to the Restructuring
Support Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.93&nbsp;&nbsp;&nbsp;&nbsp;<B><I>New Existing Equity Warrants</I></B> means the Series A New Existing Equity Warrants
and the Series B New Existing Equity Warrants, which shall be issued to holders of Existing Interests as provided in Section&nbsp;4.7(b) of the Plan, pursuant to and governed by the terms of the New Existing Equity Warrant Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.94&nbsp;&nbsp;&nbsp;&nbsp;<B><I>New Indenture</I></B> means that certain secured Indenture, dated as of the Effective Date, by and among
Reorganized Tidewater Parent, as issuer, the other Reorganized Debtors that are guarantors, and the New Indenture Trustee, as trustee, including the Certificate, all agreements, notes, instruments, and any other documents delivered pursuant thereto
or in connection therewith such as related interest rate hedging arrangements (in each case, as amended, modified, or supplemented from time to time), the form of which is annexed as an exhibit to the Restructuring Support Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.95&nbsp;&nbsp;&nbsp;&nbsp;<B><I>New Indenture Trustee</I></B> means the trustee under the New Indenture and its successors and permitted
assigns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.96&nbsp;&nbsp;&nbsp;&nbsp;<B><I>New Secured Notes</I></B> means the eight percent (8%) fixed rate secured notes due five
(5)&nbsp;years from the Effective Date to be issued pursuant to the New Indenture in the aggregate principal amount of $350,000,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.97&nbsp;&nbsp;&nbsp;&nbsp;<B><I>New Warrants</I></B> means the New Creditor Warrants and the New Existing Equity Warrants. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.98&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Citizen</I></B><B> </B>means an Entity other than a U.S.
Citizen. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.99&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Noteholders</I></B> means, collectively, the 2010 Noteholders, the 2011 Noteholders, and the
2013 Noteholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.100&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Note Purchase Agreements</I></B> means the 2010 Note Purchase Agreement, the 2011
Note Purchase Agreements, and the 2013 Note Purchase Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.101&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Notes</I></B> means, collectively, the
2010 Notes, the 2011 Notes, and the 2013 Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.102&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Notes Claims</I></B> means, collectively, the 2010
Notes Claims, the 2011 Notes Claims, and the 2013 Notes Claims. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.103&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Other General Unsecured Claim</I></B>
means any Claim, other than a Secured Claim, an Administrative Expense Claim, an Intercompany Claim, a Priority Tax Claim, a Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claim, the Notes Claims, a Sale Leaseback Claim, or a Credit
Agreement Claim. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.104&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Permitted Designee</I></B> means with respect to any holder of an Allowed General
Unsecured Claim, a partnership or another limited liability form of entity which is designated (in a writing to be delivered to Tidewater Parent on or before the Distribution Record Date) by such holder to receive (a)&nbsp;distributions issuable to
such holder pursuant to Section&nbsp;4.3(c) of the Plan, and (b)&nbsp;the holder&#146;s rights to such distribution as a result of equity contributions (through one or more layers of successive partnerships or entities). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.105&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Petition Date </I></B>means, with respect to each Debtor, the
date on which such Debtor commenced its Chapter 11 Case. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.106&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Plan</I></B> means this second amended joint
prepackaged chapter 11 plan, including all appendices, exhibits, schedules, and supplements hereto (including, without limitation, any appendices, schedules, and supplements to the Plan contained in the Plan Supplement), as the same may be amended,
supplemented, or modified from time to time in accordance with the provisions of the Bankruptcy Code, the terms hereof, and the terms of the Restructuring Support Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.107&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Plan Supplement</I></B> means a supplemental appendix to the Plan containing, among other things,
substantially final forms of documents, schedules, and exhibits to the Plan to be filed with the Bankruptcy Court, including, but not limited to, the following, each of which must be in form and substance reasonably satisfactory to the Debtors, the
Requisite Consenting Noteholders, and the Requisite Consenting Tidewater Lenders: (a)&nbsp;the Amended Organizational Documents, to the extent not annexed to the Restructuring Support Agreement, (b)&nbsp;the identity of the members of the New Board
of Reorganized Tidewater Parent, and (c)&nbsp;the Restructuring Support Agreement (together with all exhibits and schedules thereto); <I>provided</I>, <I>however</I>, that all individual holdings information shall be redacted from the signature
pages to the Restructuring Support Agreement; <I>provided</I>,<I> that</I>, through the Effective Date, the Debtors shall have the right to amend and supplement the Plan Supplement and any schedules, exhibits, or amendments thereto, in accordance
with the terms of the Plan and the Restructuring Support Agreement. The Plan Supplement shall be filed with the Bankruptcy Court not later than seven (7)&nbsp;calendar days prior to the Voting Deadline. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.108&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claim</I></B> means any Claim, other than an
Administrative Expense Claim or a Priority Tax Claim, entitled to priority in payment as specified in section 507(a) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.109&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Priority Tax Claim</I></B> means any Secured Claim or unsecured Claim of a Governmental Unit of the kind
entitled to priority in payment as specified in sections 502(i) and 507(a)(8) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.110&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Pro Rata</I></B><B><I> </I></B>means the proportion that Allowed Claims or Interests in a particular
Class&nbsp;bear to the aggregate amount of Allowed Claims and Disputed Claims or Allowed Interests and Disputed Interests in a particular Class&nbsp;and other Classes entitled to share in the same recovery as such Class&nbsp;under the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.111&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Registration Rights Agreement</I></B><B> </B>means the Registration Rights Agreement among the Registration
Rights Parties, having the terms set forth in Section&nbsp;5.11 of the Plan, which is annexed to the Restructuring Support Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.112&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Registration Rights Parties</I></B> means any recipient of shares of New Common Stock that receives
(together with its Affiliates and related funds) ten percent (10%) or more of the New Common Stock under the Plan and/or who has a reasonable belief that it is an Affiliate of the Reorganized Debtors, in each case who is a party to the Registration
Rights Agreement, together with its Affiliates (solely as used throughout this definition, as defined under the Securities Act of 1933, as amended). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.113&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Reinstate, Reinstated, or Reinstatement </I></B>means leaving a Claim Unimpaired under the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.114&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Rejection Motion</I></B><B> </B>means the motion or pleading filed by the Debtors on the Petition Date
seeking entry of interim and final orders (a)&nbsp;authorizing&nbsp;the&nbsp;rejection of the Sale Leaseback Agreements, </P>
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(b) temporarily allowing the Sale Leaseback Claims&nbsp;solely&nbsp;for voting purposes and for purposes&nbsp;of establishing the Disputed Claims Reserve under Section&nbsp;7.5 of the Plan,
(c)&nbsp;setting a briefing schedule related thereto, (d)&nbsp;limiting the final allowance of the Sale Leaseback Claims, and (d)&nbsp;granting related relief,&nbsp;which motion or pleading must be, in form and substance, reasonably satisfactory to
the Debtors, the Requisite Consenting Tidewater Lenders, and the Requisite Consenting Noteholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.115&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Rejection Orders</I></B> means, collectively, (a)&nbsp;the order approving the stipulation among the
Debtors and the Sale Leaseback Parties, dated May&nbsp;25, 2017 (Docket No.&nbsp;129), including (i)&nbsp;the rejection of the Sale Leaseback Agreements, (ii)&nbsp;the amount of the Disputed Claims Reserve, and (iii)&nbsp;the temporary allowance of
the Disputed Sale Leaseback Claims in the amount set forth therein for purposes of voting on the Plan; and (b)&nbsp;the order setting an expedited discovery and briefing schedule for final allowance of the Disputed Sale Leaseback Claims, dated
June&nbsp;13, 2017 (Docket No.&nbsp;217). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.116&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Released Parties </I></B>means collectively: (a)&nbsp;the
Debtors, (b)&nbsp;the Reorganized Debtors, (c)&nbsp;the Credit Agreement Agent, (d)&nbsp;the Noteholders, the Tidewater Lenders, and the Sale Leaseback Parties, only to the extent the Entities in clause (d)&nbsp;voted in favor of the Plan,
(e)&nbsp;the Creditors&#146; Committee, (f)&nbsp;the Equity Committee, and (g)&nbsp;with respect to each of the foregoing Entities in clauses (a)&nbsp;through (f), such Entities&#146; predecessors, successors and assigns, subsidiaries, affiliates,
managed accounts or funds, current and former officers, directors, managers, principals, shareholders, members, partners, employees, agents, advisory board members, financial advisors, attorneys, accountants, investment bankers, consultants,
representatives, management companies, fund advisors and other professionals, and such Entities&#146; respective heirs, executors, estates, and nominees. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.117&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Reorganized Debtors</I></B> means, with respect to each Debtor, such Debtor as reorganized on the Effective
Date in accordance with the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.118&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Reorganized Tidewater Parent</I></B> means Tidewater Parent as
reorganized on the Effective Date in accordance with the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.119&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Requisite Consenting 2010
Noteholders</I></B> means, as of the date of determination, Consenting 2010 Noteholders holding at least 51% of the outstanding principal amount of the 2010 Notes as of such date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.120&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Requisite Consenting 2011 Series A and B Noteholders</I></B> means, as of the date of determination,
Consenting 2011 Series A and B Noteholders holding at least 51% of the outstanding principal amount of the 2011 Series A and B Notes as of such date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.121&nbsp;&nbsp;&nbsp;&nbsp; <B><I>Requisite Consenting 2011 Series C Noteholders</I></B> means, as of the date of determination, Consenting
2011 Series C Noteholders holding at least 51% of the outstanding principal amount of the 2011 Series C Notes as of such date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.122&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Requisite Consenting 2013 Noteholders</I></B> means, as of the date of determination, Consenting 2013
Noteholders holding at least 51% of the outstanding principal amount of the 2013 Notes as of such date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.123&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Requisite Consenting Noteholders</I></B> means the Requisite Consenting 2010 Noteholders, the Requisite
Consenting 2011 Series A and B Noteholders, the Requisite Consenting 2011 Series C Noteholders, and the Requisite Consenting 2013 Noteholders. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.124&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Requisite Consenting Tidewater Lenders</I></B> means, as of
the date of determination, Consenting Tidewater Lenders holding at least a majority of the outstanding principal amount of the Credit Agreement Claims held by Consenting Tidewater Lenders as of such date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.125&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Restructuring Support Agreement</I></B><B><I> </I></B>means<B><I> </I></B>that certain Restructuring
Support Agreement, dated as of May&nbsp;11, 2017, by and among the Debtors and the Consenting Creditors, as may be amended, supplemented, or modified from time to time in accordance with the terms thereof, a copy of which, without individual
holdings shown on the signature pages, is annexed to the Plan as <B><U>Schedule&nbsp;1</U></B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.126&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Sale
Leaseback Agreements </I></B>means those certain sale leaseback agreements set forth on <B><U>Schedule 2</U></B> to the Plan pertaining to marine vessels bareboat chartered by certain Debtors that the Debtors intend to designate for rejection. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.127&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Sale Leaseback Claim</I></B> means any Claim arising from, or related to, the Debtors&#146; rejection of a
Sale Leaseback Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.128&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Sale Leaseback Parties</I></B> means, collectively, the lessors party to the
Sale Leaseback Agreements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.129&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Secured Claim</I></B> means a Claim other than an Administrative Expense
Claim or a Priority Tax Claim (a)&nbsp;secured by a Lien on collateral to the extent of the value of such collateral as (i)&nbsp;set forth in the Plan, (ii)&nbsp;agreed to by the holder of such Claim and the Debtors, or (iii)&nbsp;determined by a
Final Order in accordance with section 506(a) of the Bankruptcy Code, or (b)&nbsp;secured by the amount of any right of setoff of the holder thereof in accordance with section 553 of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.130&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Series A New Existing Equity Warrants</I></B> means warrants to purchase a number of shares of New Common
Stock equal to seven and a half percent (7.5%) of the sum of the total number of (a)&nbsp;shares of New Common Stock to be outstanding as of the Effective Date under clause (v)&nbsp;of Section&nbsp;4.3(c)(iii) and clause (i)&nbsp;of
Section&nbsp;4.7(b) of the Plan plus (b)&nbsp;shares of New Common Stock issuable upon exercise of the New Creditor Warrants issued under clause (w)&nbsp;of Section&nbsp;4.3(c)(iii) of the Plan as of the Effective Date plus (c)&nbsp;any shares of
New Common Stock issuable upon exercise of the New Creditor Warrants reserved for issuance but not issued as of the Effective Date with respect to Claims which are Disputed Claims on the Effective Date by virtue of the operation of
Section&nbsp;6.9(a) of the Plan plus (d)&nbsp;shares of New Common Stock issuable upon exercise of the Series A New Existing Equity Warrants, but excluding any shares of New Common Stock issued or issuable pursuant to the Management Incentive Plan,
such Series A New Existing Equity Warrants to be exercisable for a six (6)&nbsp;year period commencing on the Effective Date with an exercise price per warrant equal to $1,711,904,712, divided by the sum of the total number of (1)&nbsp;shares of New
Common Stock to be outstanding as of the Effective Date under clause (v)&nbsp;of Section&nbsp;4.3(c)(iii) and clause (i)&nbsp;of Section&nbsp;4.7(b) of the Plan plus (2)&nbsp;shares of New Common Stock issuable upon exercise of the New Creditor
Warrants issued under clause (w)&nbsp;of Section&nbsp;4.3(c)(iii) of the Plan as of the Effective Date plus (3)&nbsp;any shares of New Common Stock issuable upon exercise of the New Creditor Warrants reserved for issuance but not issued as of the
Effective Date with respect to Claims which are Disputed Claims on the Effective Date by virtue of the operation of Section&nbsp;6.9(a) of the Plan, but excluding any shares of New Common Stock issued or issuable pursuant to the Management Incentive
Plan, all as more fully set forth in the New Existing Equity Warrant Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.131&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Series B New Existing
Equity Warrants</I></B> means warrants to purchase a number of shares of New Common Stock equal to seven and a half percent (7.5%) of the sum of the total number of (a)&nbsp;shares of New Common Stock to be outstanding as of the Effective Date under
clause (v)&nbsp;of Section&nbsp;4.3(c)(iii) and clause (i)&nbsp;of Section&nbsp;4.7(b) of the Plan plus (b)&nbsp;shares of New Common Stock issuable </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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upon exercise of the New Creditor Warrants issued under clause (w)&nbsp;of Section&nbsp;4.3(c)(iii) of the Plan as of the Effective Date plus (c)&nbsp;any shares of New Common Stock issuable upon
exercise of the New Creditor Warrants reserved for issuance but not issued as of the Effective Date with respect to Claims which are Disputed Claims on the Effective Date by virtue of the operation of Section&nbsp;6.9(a) of the Plan plus
(d)&nbsp;shares of New Common Stock issuable upon exercise of the Series A New Existing Equity Warrants and the Series B New Existing Equity Warrants, but excluding any shares of New Common Stock issued or issuable pursuant to the Management
Incentive Plan, such Series B New Existing Equity Warrants to be exercisable for a six (6)&nbsp;year period commencing on the Effective Date with an exercise price per warrant equal to $2,020,000,000, divided by the sum of the total number of
(1)&nbsp;shares of New Common Stock to be outstanding as of the Effective Date under clause (v)&nbsp;of Section&nbsp;4.3(c)(iii) and clause (i)&nbsp;of Section&nbsp;4.7(b) of the Plan plus (2)&nbsp;shares of New Common Stock issuable upon exercise
of the New Creditor Warrants issued under clause (w)&nbsp;of Section&nbsp;4.3(c)(iii) of the Plan as of the Effective Date plus (3)&nbsp;any shares of New Common Stock issuable upon exercise of the New Creditor Warrants reserved for issuance but not
issued as of the Effective Date with respect to Claims which are Disputed Claims on the Effective Date by virtue of the operation of Section&nbsp;6.9(a) of the Plan plus (4)&nbsp;shares of New Common Stock issuable upon exercise of the Series A New
Existing Equity Warrants, but excluding any shares of New Common Stock issued or issuable pursuant to the Management Incentive Plan, all as more fully set forth in the New Existing Equity Warrant Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.132&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Subordinated Securities Claim</I></B> means a Claim subject to subordination under section 510(b) of the
Bankruptcy Code, including, without limitation, any Claim for or that arises from the rescission of a purchase, sale, issuance, or offer of a security (as defined in section 101(49) of the Bankruptcy Code) of any of the Debtors, or for damages
arising from the purchase or sale of such a security, or for reimbursement, indemnification, or contribution allowed under section 502 of the Bankruptcy Code on account of such Claim. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.133&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Tidewater Lender and Noteholder Group</I></B> means, as of the date of determination, the Consenting
Tidewater Lenders and the Consenting Noteholders holding in the aggregate at least 66.67% of the outstanding principal amount of the Credit Agreement Claims and the Notes Claims held by the Consenting Tidewater Lenders and the Consenting Noteholders
in the aggregate as of such date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.134&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Tidewater Lenders</I></B> means the lenders from time to time party
to the Credit Agreement as lenders thereunder and their successors and permitted assigns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.135&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Tidewater
Parent</I></B> means Tidewater Inc. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.136&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Tidewater Parent Interests </I></B>means all Interests in
Tidewater Parent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.137&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Troms</I></B> means Troms Offshore Supply AS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.138&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Troms Agent</I></B> means DNB Bank ASA, New York Branch, solely as agent under the Troms Credit Agreement,
and its successors and permitted assigns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.139&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Troms Arranger</I></B> means DNB Markets, Inc., solely as
arranger under the Troms Credit Agreement, and its successors and permitted assigns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.140&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Troms Bank
Guarantor</I></B> means DNB Bank ASA, Grand Cayman Branch, solely as bank guarantor under the Troms Credit Agreement, and it successors and permitted assigns. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.141&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Troms Bookrunner</I></B> means DNB Markets, Inc., solely as bookrunner under the Troms Credit Agreement,
and its successors and permitted assigns. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.142&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Troms Credit Agreement</I></B> means that certain Amended and
Restated Term Loan Facility Agreement, originally dated as of May&nbsp;25, 2012 (as amended, and as further amended and restated by an amendment and restatement agreement no. 4 as of the Effective Date), by and among Troms, as borrower, Tidewater
Parent and certain other Debtors, as corporate guarantors, and the Troms Finance Parties, as may be further amended, modified, or otherwise supplemented from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.143&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Troms Finance Parties</I></B> means the Troms Agent, the Troms Arranger, the Troms Bookrunner, the Troms
Bank Guarantor, GIEK, and the Troms Lenders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.144&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Troms Lenders</I></B> means Eksportkreditt Norge AS,
Kommunal Landspensjonskasse Gjensidig Forsikringsselskap, Garanti-Instituttet for Eksportkreditt, and DNB Capital LLC, solely as lenders under the Troms Credit Agreement, and their successors and permitted assigns. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.145&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Unimpaired </I></B>means, with respect to a Claim, Interest, or Class&nbsp;of Claims or Interests, not
&#147;impaired&#148; within the meaning of sections 1123(a)(4) and 1124 of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.146&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Unofficial Noteholder Committee</I></B> means the unofficial committee of certain unaffiliated holders of
Notes Claims that is represented by Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP, Blank Rome LLP and Houlihan Lokey Capital, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.147&nbsp;&nbsp;&nbsp;&nbsp;<B><I>U.S. Citizen</I></B> means an Entity that is a citizen of the United States within the meaning of the Jones
Act, eligible and qualified to own and operate U.S.-flag vessels in the U.S. coastwise trade. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.148&nbsp;&nbsp;&nbsp;&nbsp;<B><I>U.S.
Citizen</I></B> <B><I>Certification</I></B> means a certification by a holder of a General Unsecured Claim that such holder is a U.S. Citizen. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.149&nbsp;&nbsp;&nbsp;&nbsp;<B><I>U.S. Trustee </I></B>means the United States Trustee for the District of Delaware. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.150&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Voting Deadline </I></B>means the date set by the Bankruptcy Court by which all persons or Entities
entitled to vote on the Plan must vote to accept or reject the Plan. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;<B>Interpretation; Application of
Definitions and Rules of Construction.</B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Unless otherwise specified, all section or exhibit references in the Plan are to the respective
section in, or exhibit to, the Plan, as the same may be amended, waived, or modified from time to time. The words &#147;herein,&#148; &#147;hereof,&#148; &#147;hereto,&#148; &#147;hereunder,&#148; and other words of similar import refer to the Plan
as a whole and not to any particular section, subsection, or clause contained therein. The headings in the Plan are for convenience of reference only and shall not limit or otherwise affect the provisions hereof. For purposes herein: (1)&nbsp;in the
appropriate context, each term, whether stated in the singular or the plural, shall include both the singular and the plural, and pronouns stated in the masculine, feminine, or neuter gender shall include the masculine, feminine, and the neuter
gender; (2)&nbsp;any reference herein to a contract, lease, instrument, release, indenture, or other agreement or document being in a particular form or on particular terms and conditions means that the referenced document shall be substantially in
that form or substantially on those terms and conditions; (3)&nbsp;unless otherwise specified, all references herein to &#147;Sections&#148; are references to Sections hereof or hereto; (4)&nbsp;the rules of construction set forth in section 102 of
the Bankruptcy Code shall apply; and (5)&nbsp;any term used in capitalized form herein that is not otherwise defined but that is used in the Bankruptcy Code or the Bankruptcy Rules shall have the meaning assigned to that term in the Bankruptcy Code
or the Bankruptcy Rules, as the case may be. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">C.&nbsp;&nbsp;&nbsp;&nbsp;<B>Reference to Monetary Figures.</B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All references in the Plan to monetary figures shall refer to the legal tender of the United States of America, unless otherwise expressly
provided. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">D.&nbsp;&nbsp;&nbsp;&nbsp;<B>Controlling Document.</B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the event of an inconsistency between the Plan, the Plan Supplement, and the forms of documents annexed to the Restructuring Support
Agreement, the terms of the relevant document in the Plan Supplement or annexed to the Restructuring Support Agreement, as applicable, shall control (unless stated otherwise in such Plan Supplement document or Restructuring Support Agreement
document). The provisions of the Plan and of the Confirmation Order shall be construed in a manner consistent with each other so as to effect the purposes of each; <I>provided</I>,<I> that</I>, if there is determined to be any inconsistency between
any Plan provision and any provision of the Confirmation Order that cannot be so reconciled, then, solely to the extent of such inconsistency, the provisions of the Confirmation Order shall govern. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE II&nbsp;&nbsp;&nbsp;&nbsp;ADMINISTRATIVE EXPENSE AND PRIORITY CLAIMS. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.1.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Administrative Expense Claims.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except to the extent that a holder of an Allowed Administrative Expense Claim agrees to less favorable treatment, each holder of an Allowed
Administrative Expense Claim (other than a Fee Claim) shall receive, in full and final satisfaction of such Claim, Cash in an amount equal to such Allowed Administrative Expense Claim on, or as soon thereafter as is reasonably practicable, the later
of (a)&nbsp;the Effective Date and (b)&nbsp;the first Business Day after the date that is thirty (30)&nbsp;calendar days after the date such Administrative Expense Claim becomes an Allowed Administrative Expense Claim; <I>provided</I>,
<I>however</I>, Allowed Administrative Expense Claims representing liabilities incurred in the ordinary course of business by the Debtors, as Debtors in Possession, shall be paid by the Debtors or the Reorganized Debtors, as applicable, in the
ordinary course of business, consistent with past practice and in accordance with the terms and subject to the conditions of any course of dealing or agreements governing, instruments evidencing, or other documents relating to such transactions.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.2.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Fee Claims.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;All Entities seeking an award by the Bankruptcy Court of Fee Claims shall file and serve on counsel to the
Reorganized Debtors, the U.S. Trustee, and such other entities who are designated by the Bankruptcy Rules, the Confirmation Order, or other order of the Court, on or before the date that is forty-five (45)&nbsp;days after the Effective Date, their
respective final applications for allowance of compensation for services rendered and reimbursement of expenses incurred from the Petition Date through the Effective Date. Objections to any Fee Claims must be filed and served on counsel to the
Reorganized Debtors, the U.S. Trustee, and the requesting party no later than <FONT STYLE="white-space:nowrap">twenty-one</FONT> (21)&nbsp;calendar days after the filing of the final applications for compensation or reimbursement (unless otherwise
agreed by the Debtors or the Reorganized Debtors, as applicable, and the party requesting compensation of a Fee Claim). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Allowed Fee Claims shall be paid in full, in Cash, in such amounts as are Allowed by the Bankruptcy Court
(i)&nbsp;upon the later of (1)&nbsp;the Effective Date and (2)&nbsp;the date upon which a Final Order relating to any such Allowed Fee Claim is entered, in each case, as soon as reasonably practicable thereafter, or (ii)&nbsp;upon such other terms
as may be mutually agreed upon between the holder of such an Allowed Fee Claim and the Debtors or the Reorganized Debtors, as applicable, and solely with </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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respect to agreements entered into on or prior to the Effective Date, with the consent of the Tidewater Lender and Noteholder Group, which consent shall not be unreasonably withheld.
Notwithstanding the foregoing, any Fee Claims that are authorized to be paid pursuant to any administrative orders entered by the Bankruptcy Court may be paid at the times and in the amounts authorized pursuant to such orders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;The Reorganized Debtors are authorized to pay compensation for services rendered or reimbursement of expenses
incurred after the Effective Date in the ordinary course and without the need for Bankruptcy Court approval. On or about the Effective Date, holders of Fee Claims shall provide a reasonable estimate of such Fee Claims to (i)&nbsp;the Debtors or the
Reorganized Debtors, as applicable, and, in addition, (ii)&nbsp;solely with respect to estimates provided on or prior to the Effective Date, to (1)&nbsp;counsel to the Consenting Noteholders and (2)&nbsp;counsel to the Consenting Tidewater Lenders,
and the Debtors or Reorganized Debtors, as applicable, shall separately reserve for such estimated amounts for the benefit of the holders of the Fee Claims until the fee applications related thereto are resolved by Final Order or agreement of the
parties. If a holder of a Fee Claim does not provide an estimate, the Debtors or Reorganized Debtors, as applicable, may estimate the unpaid and unbilled fees and expenses of such holder of a Fee Claim. When all such Allowed Fee Claims have been
paid in full, any remaining amount in such escrow shall promptly be released from such reserve and revert to, and ownership thereof shall vest in, the Reorganized Debtors without any further action or order of the Bankruptcy Court. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.3.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Priority Tax Claims.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except to the extent that a holder of an Allowed Priority Tax Claim agrees to less favorable treatment, each holder of an Allowed Priority Tax
Claim shall receive, in full and final satisfaction of such Allowed Priority Tax Claim, at the option of the Debtors or the Reorganized Debtors, as applicable, and solely if such option is selected on or prior to the Effective Date, with the consent
of the Tidewater Lender and Noteholder Group, such consent not to be unreasonably withheld, (a)&nbsp;Cash in an amount equal to such Allowed Priority Tax Claim on, or as soon thereafter as is reasonably practicable, the later of (i)&nbsp;the
Effective Date, to the extent such Claim is an Allowed Priority Tax Claim on the Effective Date, (ii)&nbsp;the first Business Day after the date that is thirty (30)&nbsp;calendar days after the date such Priority Tax Claim becomes an Allowed
Priority Tax Claim, and (iii)&nbsp;the date such Allowed Priority Tax Claim is due and payable in the ordinary course as such obligation becomes due, or (b)&nbsp;equal annual Cash payments in an aggregate amount equal to such Allowed Priority Tax
Claim, together with interest at the applicable rate under section 511 of the Bankruptcy Code, over a period not exceeding five (5)&nbsp;years from and after the Petition Date; <I>provided</I>, that the Debtors reserve the right to prepay all or a
portion of any such amounts at any time under this option at their discretion, and solely with respect to prepayments made before the Effective Date, with the consent of the Tidewater Lender and Noteholder Group, such consent not to be unreasonably
withheld. To the extent that any Priority Tax Claim is secured by a lien on any property of the Debtors, such lien shall continue in full force and effect until such time as the Priority Tax Claim is paid in full. All Allowed Priority Tax Claims
that are not due and payable on or before the Effective Date shall be paid in the ordinary course of business or under applicable <FONT STYLE="white-space:nowrap">non-bankruptcy</FONT> law as such obligations become due. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE III&nbsp;&nbsp;&nbsp;&nbsp;CLASSIFICATION OF CLAIMS AND INTERESTS. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.1.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Classification in General.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A Claim or Interest is placed in a particular Class&nbsp;for all purposes, including voting, confirmation, and distribution under the Plan and
under sections 1122 and 1123(a)(1) of the Bankruptcy Code; <I>provided</I>, that a Claim or Interest is placed in a particular Class&nbsp;for the purpose of receiving distributions pursuant to the Plan only to the extent that such Claim or Interest
is an Allowed Claim or Allowed Interest in that Class&nbsp;and such Allowed Claim or Allowed Interest has not been satisfied, released, or otherwise settled prior to the Effective Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.2.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Formation of Debtor Groups for Convenience Only.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Plan groups the Debtors together solely for the purpose of describing treatment under the Plan, confirmation of the Plan, and making
distributions in accordance with the Plan in respect of Claims against and Interests in the Debtors under the Plan. Such groupings shall not affect any Debtor&#146;s status as a separate legal Entity, result in substantive consolidation of any
Estates, change the organizational structure of the Debtors&#146; business enterprise, constitute a change of control of any Debtor for any purpose, cause a merger or consolidation of any legal Entities, or cause the transfer of any assets; and,
except as otherwise provided by or permitted under the Plan, all Debtors shall continue to exist as separate legal Entities after the Effective Date. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.3.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Summary of Classification.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The following table designates the Classes of Claims against and Interests in each of the Debtors and specifies which of those Classes are
(a)&nbsp;Impaired or Unimpaired by the Plan, (b)&nbsp;entitled to vote to accept or reject the Plan in accordance with section 1126 of the Bankruptcy Code, and (c)&nbsp;deemed to accept or reject the Plan. In accordance with section 1123(a)(1) of
the Bankruptcy Code, Administrative Expense Claims, including Priority Tax Claims, have not been classified. The classification of Claims and Interests set forth herein shall apply separately to each of the Debtors. All of the potential Classes for
the Debtors are set forth herein. Certain of the Debtors may not have holders of Claims or Interests in a particular Class&nbsp;or Classes, and such Classes shall be treated as set forth in Section&nbsp;3.5 of the Plan. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="38%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:18.20pt; font-size:8pt; font-family:Times New Roman"><B>Class</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Designation</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Treatment</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Entitled&nbsp;to&nbsp;Vote</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claims</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Unimpaired</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">No (Presumed to accept)</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Secured Claims</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Unimpaired</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">No (Presumed to accept)</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">General Unsecured Claims</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Impaired</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Yes</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">4</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Other General Unsecured Claims</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Unimpaired</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">No (Presumed to accept)</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">5</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Intercompany Claims</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Unimpaired</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">No (Presumed to accept)</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">6</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Intercompany Interests</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Unimpaired</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">No (Presumed to accept)</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">7</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Tidewater Parent Interests</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Impaired</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">No (Deemed to reject)</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">8</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Subordinated Securities Claims</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Impaired</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">No (Deemed to reject)</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.4.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Special Provision Governing Unimpaired Claims.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise provided in the Plan, nothing under the Plan shall affect the rights of the Debtors or the Reorganized Debtors, as
applicable, in respect of any Unimpaired Claims, including all rights in respect of legal and equitable defenses to, or setoffs or recoupments against, any such Unimpaired Claims. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.5.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Elimination of Vacant Classes.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any Class&nbsp;of Claims against or Interests in a Debtor that, as of the commencement of the Confirmation Hearing, does not have at least one
(1)&nbsp;holder of a Claim or Interest that is Allowed in an amount greater than zero for voting purposes shall be considered vacant, deemed eliminated from the Plan </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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of such Debtor for purposes of voting to accept or reject such Debtor&#146;s Plan, and disregarded for purposes of determining whether such Debtor&#146;s Plan satisfies section 1129(a)(8) of the
Bankruptcy Code with respect to that Class. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE IV&nbsp;&nbsp;&nbsp;&nbsp;TREATMENT OF CLAIMS AND INTERESTS. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.1.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claims (Class 1).</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Classification</I>: Class&nbsp;1 consists of Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claims.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Treatment</I>: Except to the extent that a holder of an Allowed Priority
<FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claim against any of the Debtors agrees to a less favorable treatment of such Claim, in full and final satisfaction of such Allowed Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claim, at
the option of the Debtors or the Reorganized Debtors, as applicable, and solely if such option is selected on or prior to the Effective Date, with the consent of the Tidewater Lender and Noteholder Group, such consent not to be unreasonably
withheld, (i)&nbsp;each such holder shall receive payment in Cash in an amount equal to such Claim, payable on the later of the Effective Date and the date that is ten (10)&nbsp;Business Days after the date on which such Priority <FONT
STYLE="white-space:nowrap">Non-Tax</FONT> Claim becomes an Allowed Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claim, in each case, or as soon as reasonably practicable thereafter, (ii)&nbsp;such holder&#146;s Allowed Priority <FONT
STYLE="white-space:nowrap">Non-Tax</FONT> Claim shall be Reinstated, or (iii)&nbsp;such holder shall receive such other treatment so as to render such holder&#146;s Allowed Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claim Unimpaired
pursuant to section 1124 of the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Voting</I>: Class&nbsp;1 is Unimpaired, and the holders of
Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claims are conclusively presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. Therefore, holders of Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT>
Claims are not entitled to vote to accept or reject the Plan, and the votes of such holders will not be solicited with respect to Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claims. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.2.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Secured Claims (Class 2).</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Classification</I>: Class&nbsp;2 consists of the Secured Claims. To the extent that the Secured Claims are
secured by different collateral or different interests in the same collateral, such Claims shall be treated as separate subclasses of Class&nbsp;2 for purposes of voting to accept or reject the Plan and receiving distributions under the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Treatment</I>: Except to the extent that a holder of an Allowed Secured Claim against any of the Debtors agrees
to a less favorable treatment of such Claim, in full and final satisfaction of such Allowed Secured Claim, at the option of the Debtors or the Reorganized Debtors, as applicable, and solely if such option is selected on or prior to the Effective
Date, with the consent of the Tidewater Lender and Noteholder Group, such consent not to be unreasonably withheld, (i)&nbsp;each such holder shall receive payment in Cash in an amount equal to such Claim, payable on the later of the Effective Date
and the date that is ten (10)&nbsp;Business Days after the date on which such Secured Claim becomes an Allowed Secured Claim, in each case, or as soon as reasonably practicable thereafter, (ii)&nbsp;such holder&#146;s Allowed Secured Claim shall be
Reinstated, or (iii)&nbsp;such holder shall receive such other treatment so as to render such holder&#146;s Allowed Secured Claim Unimpaired pursuant to section 1124 of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Voting</I>: Class&nbsp;2 is Unimpaired, and the holders of Secured Claims are conclusively presumed to have
accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. Therefore, holders of Secured Claims are not entitled to vote to accept or reject the Plan, and the votes of such holders will not be solicited with respect to such Secured
Claims. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.3.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>General Unsecured Claims (Class 3).</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Classification</I>: Class&nbsp;3 consists of General Unsecured Claims. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Allowance</I>: The following Claims are Allowed pursuant to section 506(a) of the Bankruptcy Code against each
of the Debtors: (i)&nbsp;the Credit Agreement Claims in the aggregate principal amount of $900,000,000, <I>plus </I>accrued but unpaid interest (including default interest), <I>plus</I> any other unpaid premiums, fees, costs, or other amounts due
under the Credit Agreement, in each case, up to but not including the Petition Date, and (ii)&nbsp;the Notes Claims in the aggregate amount of $1,158,397,471, <I>plus </I>any other unpaid premiums, interest, fees, costs, or other amounts due under
the Note Purchase Agreements, as applicable, in each case, up to but not including the Petition Date. The Tidewater Lenders and the Noteholders shall not be required to file proofs of Claim on account of their Credit Agreement Claims and/or Notes
Claims, as applicable. On the Petition Date, the Debtors shall file with the Bankruptcy Court the Rejection Motion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Treatment</I>: In full and final satisfaction of each Allowed General Unsecured Claim, on a Class&nbsp;3
Distribution Date, each holder of an Allowed General Unsecured Claim shall be entitled to receive its Pro Rata share of (i)&nbsp;Cash in the amount of $225,000,000, (ii)&nbsp;the New Secured Notes, and (iii)&nbsp;pursuant to the procedure set forth
below in this Section&nbsp;4.3(c), a combination of (v)&nbsp;New Common Stock to the extent permitted under the restriction on aggregate ownership of outstanding New Common Stock by <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Citizens as
described in Section&nbsp;5.5(a) of the Plan and (w)&nbsp;New Creditor Warrants to the extent that shares of New Common Stock cannot be issued to such holder because it is a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Citizen and its ownership
of its Pro Rata share of New Common Stock, when added to the Pro Rata shares of New Common Stock being issued to other holders that are <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Citizens as of the Effective Date, would exceed the restriction
on aggregate ownership of outstanding New Common Stock by <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Citizens as described in Section&nbsp;5.5(a) of the Plan, which shall represent, in the aggregate, ninety-five percent (95%) of the sum of the
total shares of New Common Stock to be outstanding on the Effective Date under clause (v)&nbsp;of this Section&nbsp;4.3(c)(iii) and clause (i)&nbsp;of Section&nbsp;4.7(b) of the Plan (excluding shares of New Common Stock issuable pursuant to the
Management Incentive Plan and shares of New Common Stock issuable upon exercise of the New Existing Equity Warrants) plus shares of New Common Stock issuable upon exercise of the New Creditor Warrants issued under clause (w)&nbsp;of this
Section&nbsp;4.3(c)(iii) as of the Effective Date plus any shares of New Common Stock issuable upon exercise of the New Creditor Warrants reserved for issuance but not issued as of the Effective Date with respect to Claims which are Disputed Claims
on the Effective Date by virtue of the operation of Section&nbsp;6.9 of the Plan, subject to dilution by shares of New Common Stock issuable pursuant to the Management Incentive Plan and by shares of New Common Stock issuable upon exercise of the
New Existing Equity Warrants; <I>provided</I>, <I>however</I>, that such holders of Allowed General Unsecured Claims are entitled to direct any distribution with respect to clause (iii)&nbsp;of this Section&nbsp;4.3(c) to one or more Permitted
Designees. In the case of holders of Allowed General Unsecured Claims that are <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Citizens, the percentage ratio of the number of shares of New Common Stock to the number of New Creditor Warrants to be
issued to each such <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Citizen pursuant to clauses (v)&nbsp;and (w) of this Section&nbsp;4.3(c)(iii), respectively, as of the Effective Date shall be the same for each such
<FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Citizen holder of an Allowed General Unsecured Claim. If such a holder (or the holder&#146;s Permitted Designee(s)) of an Allowed General Unsecured Claim furnishes a U.S. Citizen Certification to
Tidewater Parent on or before the Distribution Record Date and, after review, Tidewater Parent, in its reasonable discretion, accepts such U.S. Citizen Certification as reasonable proof in establishing that such holder or its Permitted Designee(s),
if applicable, is a U.S. Citizen, such holder (or its Permitted Designee(s)) shall receive New Common Stock representing all of such holder&#146;s (or its Permitted Designee&#146;s(s&#146;)) Pro Rata share as of the Effective Date of such New Common
Stock on the Class&nbsp;3 Initial Distribution Date; provided, however, that if such holder (or the holder&#146;s Permitted Designee(s)) does not furnish a U.S. Citizen Certification to Tidewater Parent on or before the Distribution Record Date, or
if the U.S. Citizen Certification of such holder (or the </P>
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holder&#146;s Permitted Designee(s)) has not been accepted or has been rejected by Tidewater Parent, in its reasonable discretion, on or before the date that is five (5)&nbsp;Business Days after
the Distribution Record Date after review by Tidewater Parent pursuant to this Section&nbsp;4.3(c), such holder (or the holder&#146;s Permitted Designee(s)) shall receive a combination of (x)&nbsp;New Common Stock representing such holder&#146;s Pro
Rata share as of the Effective Date of New Common Stock, to the extent permitted by Section&nbsp;5.5(a) of the Plan, and (y)&nbsp;New Creditor Warrants equal to the balance of such holder&#146;s (or the holder&#146;s Permitted
Designee&#146;s(s&#146;)) Pro Rata share as of the Effective Date of the New Common Stock that such holder would have received but for the restriction in Section&nbsp;5.5(a) of the Plan as of the Effective Date. In connection with Tidewater
Parent&#146;s review of any U.S. Citizen Certification under this Section&nbsp;4.3(c), Tidewater Parent shall have the right to require the holder (or the holder&#146;s Permitted Designee(s)) furnishing the U.S. Citizen Certification to provide
Tidewater Parent with such documents and other information as it may reasonably request as reasonable proof confirming that the holder (or such holder&#146;s Permitted Designee(s)) is a U.S. Citizen under the Jones Act. Tidewater Parent shall treat
all such documents and information provided by any holder (or the holder&#146;s Permitted Designee(s)) as confidential and shall limit the distribution of such documents and information to the Debtors&#146; personnel and counsel that have a need to
know the contents thereof and to the U.S. Coast Guard as may be necessary. Notwithstanding the foregoing, holders of Sale Leaseback Claims which are Disputed Claims on the Effective Date and thereafter become Allowed Claims shall be entitled to
receive their Pro Rata share, calculated as of the Effective Date, of the foregoing consideration described in clauses (i), (ii), and (iii)&nbsp;of the first sentence of this Section&nbsp;4.3(c); provided, however, that the consideration delivered
in respect of clause (iii)&nbsp;of this Section&nbsp;4.3(c) shall consist of solely New Creditor Warrants on the next Interim Distribution Date after they become Allowed Claims. In any distribution made to the holder of an Allowed General Unsecured
Claim, there shall be deducted therefrom the amount of Cash, New Secured Notes, New Common Stock, and New Creditor Warrants previously distributed to such holder on account of such Allowed General Unsecured Claim in any distribution made prior
thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;<I>Voting</I>: Class&nbsp;3 is Impaired, and the holders of General Unsecured Claims in Class&nbsp;3
are entitled to vote to accept or reject the Plan. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.4.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Other General Unsecured Claims (Class 4).</I></B>
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Classification</I>: Class&nbsp;4 consists of Other General Unsecured Claims. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Treatment</I>: Except to the extent that a holder of an Allowed Other General Unsecured Claim against any of the
Debtors agrees to a less favorable treatment of such Claim or has been paid before the Effective Date, at the option of the Debtors or the Reorganized Debtors, as applicable, and solely if such option is selected on or prior to the Effective Date,
with the consent of the Tidewater Lender and Noteholder Group, such consent not to be unreasonably withheld, on and after the Effective Date, (i)&nbsp;the Reorganized Debtors shall continue to pay or treat each Allowed Other General Unsecured Claim
in the ordinary course of business, or (ii)&nbsp;such holder shall receive such other treatment so as to render such holder&#146;s Allowed Other General Unsecured Claim Unimpaired pursuant to section 1124 of the Bankruptcy Code, in each case,
subject to all defenses or disputes the Debtors and Reorganized Debtors may assert as to the validity or amount of such Claims, including as provided in Section&nbsp;10.9 of the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Voting</I>: Class&nbsp;4 is Unimpaired, and the holders of Other General Unsecured Claims are conclusively
presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. Therefore, holders of Other General Unsecured Claims are not entitled to vote to accept or reject the Plan, and the votes of such holders will not be solicited
with respect to such Other General Unsecured Claims. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.5.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Intercompany Claims (Class 5).</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Classification</I>: Class&nbsp;5 consists of Intercompany Claims. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Treatment</I>: On the Effective Date, all Intercompany Claims shall be adjusted, Reinstated, discharged, or
distributed to the extent determined to be appropriate by the Debtors or the Reorganized Debtors, as applicable, and solely if such treatment is determined on or prior to the Effective Date, with the consent of the Tidewater Lender and Noteholder
Group, such consent not to be unreasonably withheld. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Voting</I>: Class&nbsp;5 is Unimpaired, and the
holders of Intercompany Claims are conclusively presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. Therefore, holders of Intercompany Claims are not entitled to vote to accept or reject the Plan, and the votes of
such holders will not be solicited with respect to such Intercompany Claims. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.6.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Intercompany Interests
(Class 6).</I></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Classification</I>: Class&nbsp;6 consists of Intercompany Interests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Treatment</I>: On the Effective Date, and without the need for any further corporate or limited liability
company action or approval of any board of directors, management, or shareholders of any Debtor or Reorganized Debtor, as applicable, all Intercompany Interests shall be unaffected by the Plan and continue in place following the Effective Date,
solely for the administrative convenience of maintaining the existing corporate structure of the Debtors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Voting</I>: Class&nbsp;6 is Unimpaired, and the holders of Intercompany Interests are conclusively presumed to
have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. Therefore, holders of Intercompany Interests are not entitled to vote to accept or reject the Plan, and the votes of such holders will not be solicited with respect to such
Intercompany Interests. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.7.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Tidewater Parent Interests (Class 7).</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Classification</I>: Class&nbsp;7 consists of Tidewater Parent Interests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Treatment</I>: On the Effective Date, all Tidewater Parent Interests shall be cancelled and discharged and shall
be of no further force and effect, whether surrendered for cancellation or otherwise, and each holder of an Allowed Existing Interest shall be entitled to receive its Pro Rata share of (i)&nbsp;shares of New Common Stock, representing, in the
aggregate, five percent (5%) of the sum of the total shares of New Common Stock to be outstanding as of the Effective Date under this clause (i)&nbsp;of Section&nbsp;4.7(b) and clause (v)&nbsp;of Section&nbsp;4.3(c)(iii) of the Plan (excluding
shares of New Common Stock issuable pursuant to the Management Incentive Plan and shares of New Common Stock issuable upon exercise of the New Existing Equity Warrants) plus shares of New Common Stock issuable upon exercise of the New Creditor
Warrants issued under clause (w)&nbsp;of Section&nbsp;4.3(c)(iii) of the Plan as of the Effective Date plus any shares of New Common Stock issuable upon exercise of the New Creditor Warrants reserved for issuance but not issued as of the Effective
Date with respect to Claims which are Disputed Claims on the Effective Date by virtue of the operation of Section&nbsp;6.9(a) of the Plan, subject to dilution by shares of New Common Stock issuable pursuant to the Management Incentive Plan and by
shares of New Common Stock issuable upon exercise of the New Existing Equity Warrants, (ii)&nbsp;the Series A New Existing Equity Warrants, and (iii)&nbsp;the Series B New Existing Equity Warrants. Notwithstanding anything herein to the contrary,
any Tidewater Parent Interests issued and outstanding as of immediately prior to the Petition Date pursuant to a Benefit Plan that have not been subsequently forfeited (or agreed </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


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to be forfeited) by the holder thereof (either voluntarily or by operation of the terms of such Benefit Plan, with effect as of any time on or prior to the Effective Date) shall be deemed to vest
immediately prior to the Distribution Record Date. For the avoidance of doubt, as of the Effective Date, all Tidewater Parent Interests consisting of stock options granted under any Benefit Plan shall be cancelled and discharged and shall be of no
further force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Voting</I>: Class&nbsp;7 is Impaired, and the holders of Tidewater Parent
Interests are conclusively presumed to have rejected the Plan pursuant to section 1126(g) of the Bankruptcy Code. Therefore, holders of Tidewater Parent Interests are not entitled to vote to accept or reject the Plan, and the votes of such holders
will not be solicited with respect to such Tidewater Parent Interests. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.8.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Subordinated Securities Claims
(Class 8).</I></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Classification</I>: Class&nbsp;8 consists of Subordinated Securities Claims. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Treatment</I>: The holders of Subordinated Securities Claims shall not receive or retain any property under the
Plan on account of such Claims and the obligations of the Debtors and the Reorganized Debtors, as applicable, on account of such Subordinated Securities Claims shall be discharged. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Voting</I>: Class&nbsp;8 is Impaired, and the holders of Subordinated Securities Claims are conclusively
presumed to have rejected the Plan pursuant to section 1126(g) of the Bankruptcy Code. Therefore, holders of Subordinated Securities Claims are not entitled to vote to accept or reject the Plan, and the votes of such holders will not be solicited
with respect to such Subordinated Securities Claims. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE V&nbsp;&nbsp;&nbsp;&nbsp;MEANS FOR IMPLEMENTATION. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.1.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Compromise and Settlement of Claims, Interests, and Controversies.</I></B><B><I> </I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Pursuant to sections 363 and 1123(b)(3) of the Bankruptcy Code and Bankruptcy Rule 9019 and in consideration for the distributions and other
benefits provided pursuant to the Plan, the provisions of the Plan shall, upon the Effective Date, constitute a good faith compromise and settlement among the Debtors and the Consenting Creditors of numerous disputes from or related to (i)&nbsp;the
Notes Claims, (ii)&nbsp;the Credit Agreement Claims, (iii)&nbsp;the Sale Leaseback Claims,&nbsp;and (iv)&nbsp;the treatment of, and distribution to, holders of Tidewater Parent Interests.&nbsp;&nbsp;&nbsp;&nbsp;In the event that, for any reason, the
Confirmation Order is not entered or the Effective Date does not occur, the Debtors, the Noteholders, and the Tidewater Lenders reserve all of their respective rights with respect to any and all disputes resolved and settled under the Plan. The
entry of the Confirmation Order shall constitute the Bankruptcy Court&#146;s approval of the compromises and settlements of all such Claims, Interests, and controversies, and the Bankruptcy Court&#146;s findings shall constitute its determination
that such compromises and settlements are in the best interests of the Debtors, their Estates, holders of such Claims and Interests, and other <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">parties-in-interest,</FONT></FONT> and
are fair, equitable, and within the range of reasonableness. The provisions of the Plan, including, without limitation, its release, injunction, exculpation, and compromise provisions, are mutually dependent and
<FONT STYLE="white-space:nowrap">non-severable.</FONT> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.2.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Continued Corporate Existence.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise provided in the Plan, the Debtors shall continue to exist after the Effective Date as Reorganized Debtors in accordance
with the applicable laws of the respective jurisdictions in which they are incorporated or organized and pursuant to the Amended Organizational Documents. On or after the Effective Date, each Reorganized Debtor may in its sole discretion, take such
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


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action that may be necessary or appropriate as permitted by applicable law, instruments and agreements, and such Reorganized Debtor&#146;s organizational documents, as such Reorganized Debtor may
determine is reasonable and appropriate. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.3.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Plan Funding.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Plan distributions of Cash shall be funded from the Debtors&#146; Cash on hand as of the applicable date of such Plan distribution. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.4.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Cancellation of Existing Securities and Agreements.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except for the purpose of evidencing a right to a distribution under the Plan and except as otherwise set forth in the Plan, including with
respect to executory contracts or unexpired leases that shall be assumed by the Reorganized Debtors,<B> </B>on the Effective Date, all agreements, instruments, and other documents evidencing any Claim or Interest (other than Intercompany Interests
that are not modified by the Plan) and any rights of any holder in respect thereof shall be deemed cancelled, discharged, and of no force or effect and the obligations of the Debtors thereunder shall be deemed fully satisfied, released, and
discharged. For the avoidance of doubt, notwithstanding such cancellation and discharge, (a)&nbsp;the Troms Credit Agreement shall continue in effect and (b)&nbsp;the Credit Agreement and the Note Purchase Agreements shall continue in effect solely
to (i)&nbsp;the extent necessary to allow the holders of Allowed Credit Agreement Claims and Allowed Notes Claims to receive distributions under the Plan, (ii)&nbsp;the extent necessary to allow the Debtors, the Reorganized Debtors, and/or the
Disbursing Agent to make post-Effective Date distributions or take such other action pursuant to the Plan on account of the Allowed Credit Agreement Claims and the Allowed Notes Claims and to otherwise exercise their rights and discharge their
obligations relating to the interests of the holders of such Claims, and (iii)&nbsp;appear in the Chapter 11 Cases; <I>provided </I>that all expense reimbursement obligations of the Debtors arising under (x)&nbsp;the Note Purchase Agreements in
favor of the Noteholders or (y)&nbsp;the Credit Agreement in favor of the Credit Agreement Agent and/or the Tidewater Lenders, or in each case, their respective directors, officers, employees, agents, affiliates, controlling persons, and legal and
financial advisors, shall survive, remain in full force and effect, and be enforceable against the Reorganized Debtors on and after the Effective Date; <I>provided</I>, <I>however</I>, that except to the extent provided in clauses (a)&nbsp;and (b)
above, nothing in this Section&nbsp;5.4 shall affect the discharge of Claims pursuant to the Bankruptcy Code, the Confirmation Order, or the Plan, or result in any liability or expense to the Reorganized Debtors. Notwithstanding the foregoing, any
provision in any document, instrument, lease, or other agreement that causes or effectuates, or purports to cause or effectuate, a default, termination, waiver, or other forfeiture of, or by, the Debtors or their interests, as a result of the
cancellations, terminations, satisfaction, releases, or discharges provided for in this Section&nbsp;5.4 shall be deemed null and void and shall be of no force and effect. Nothing contained herein shall be deemed to cancel, terminate, release, or
discharge the obligation of the Debtors or any of their counterparties under any executory contract or lease to the extent such executory contract or lease has been assumed by the Debtors pursuant to a Final Order of the Bankruptcy Court or
hereunder. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.5.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Authorization and Issuance of New Common Stock and New Warrants.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;On the Effective Date, (i)&nbsp;Reorganized Tidewater Parent is authorized to issue or cause to be issued and shall
issue the New Common Stock and the New Warrants, and (ii)&nbsp;the Debtors or the Reorganized Debtors are authorized to issue or cause to be issued and shall issue the New Secured Notes, each in accordance with the terms of the Plan without the need
for any further corporate or limited liability company action. All of the New Common Stock, the New Warrants, and the New Secured Notes issuable under the Plan, when so issued, shall be duly authorized, validly issued, and, in the case of the New
Common Stock, fully paid, and <FONT STYLE="white-space:nowrap">non-assessable.</FONT> In no event shall <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Citizens in the aggregate </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


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own more than <FONT STYLE="white-space:nowrap">twenty-two</FONT> percent (22%) of the total number of shares of New Common Stock to be outstanding on the Effective Date. All of the New Common
Stock underlying the New Warrants (upon payment of the exercise price in accordance with the terms of such New Warrants) issued pursuant to this Plan shall be duly authorized, validly issued, fully paid, and
<FONT STYLE="white-space:nowrap">non-assessable.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Upon the Effective Date, Reorganized Tidewater Parent
anticipates that it will continue to be a reporting company under the Exchange Act, 15 U.S.C. &#167;&#167;&nbsp;78(a) &#150; 78(pp). Reorganized Tidewater Parent shall use its commercially reasonable efforts to have the New Common Stock and the New
Existing Equity Warrants listed on the same nationally recognized exchange as soon as practicable, in each case, subject to meeting applicable listing requirements following the Effective Date. Following the Effective Date, Reorganized Tidewater
Parent will explore listing the New Creditor Warrants on an exchange to be determined, subject to approval by the New Board and applicable listing requirements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;The New Creditor Warrants will be issued pursuant to the terms of the New Creditor Warrant Agreement. Each New
Creditor Warrant will, subject to the terms of the New Creditor Warrant Agreement, be exercisable for one (1)&nbsp;share of New Common Stock. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;The New Existing Equity Warrants will be issued pursuant to the terms of the New Existing Equity Warrant Agreement.
Each New Existing Equity Warrant will, subject to the terms of the New Existing Equity Warrant Agreement, be exercisable for one (1)&nbsp;share of New Common Stock. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.6.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Section 1145 Exemption.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;The offer, issuance, and distribution of the New Creditor Warrants (and the New Common Stock issuable upon exercise
thereof), the New Existing Equity Warrants (and the New Common Stock issuable upon exercise thereof), the New Common Stock, and the New Secured Notes to holders of Allowed General Unsecured Claims and holders of Allowed Existing Interests, as
applicable, under Article IV of the Plan shall be exempt, pursuant to section 1145 of the Bankruptcy Code, without further act or action by any Entity, from registration under (i)&nbsp;the Securities Act of 1933, as amended, and all rules and
regulations promulgated thereunder and (ii)&nbsp;any state or local law requiring registration for the offer, issuance, or distribution of securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;The New Common Stock, the New Secured Notes, and the New Warrants (and the New Common Stock issuable upon exercise
thereof) shall be freely tradable by the recipients thereof, subject to (i)&nbsp;the provisions of section 1145(b)(1) of the Bankruptcy Code relating to the definition of an underwriter in section 2(a)(11) of the Securities Act of 1933, as amended,
(ii)&nbsp;compliance with any rules and regulations of the Securities and Exchange Commission, if any, applicable at the time of any future transfer of such securities or instruments, (iii)&nbsp;the restrictions, if any, on the transferability of
such securities and instruments, including, without limitation, any restrictions on the transferability under the terms of the Amended Organizational Documents and the New Warrants, and (iv)&nbsp;applicable regulatory approval. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.7.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Officers and Boards of Directors.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;On the Effective Date, the initial directors of the New Board shall consist of seven (7)&nbsp;directors composed of
(i)&nbsp;the Chief Executive Officer and (ii)&nbsp;six (6)&nbsp;directors designated by the Requisite Consenting Noteholders and the Requisite Consenting Tidewater Lenders subject to compliance with the Jones Act (such that Reorganized Tidewater
Parent shall at all times be eligible and qualified to own and operate U.S.-flag vessels in the U.S. coastwise trade). Each such director shall serve from and after the Effective Date pursuant to the terms of the Amended Organizational Documents and
the other constituent documents of the Reorganized Debtors. After the Effective Date, the board of directors for </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


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Reorganized Tidewater Parent will be elected by its stockholders in accordance with Delaware law and Reorganized Tidewater Parent&#146;s Amended Organizational Documents. Pursuant to section
1129(a)(5) of the Bankruptcy Code, the Debtors will disclose in the Plan Supplement the identity and affiliations of any person proposed to serve on the initial board of directors of the Reorganized Debtors. Without any further action by either the
stockholders of Reorganized Tidewater Parent or the members of the New Board, and pursuant to the Bankruptcy Court&#146;s authority under Section&nbsp;303 of the DGCL and other applicable Delaware and federal law, the appointment of directors
provided by this Section&nbsp;5.7(a) shall have the effect of unanimous stockholder action by written consent to elect directors in lieu of an annual meeting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in the Plan Supplement, the officers of the respective Reorganized Debtors immediately
before the Effective Date, as applicable, shall serve as the initial officers of each of the respective Reorganized Debtors on and after the Effective Date and in accordance with Section&nbsp;5.12 of the Plan and applicable <FONT
STYLE="white-space:nowrap">non-bankruptcy</FONT> law. After the Effective Date, officers of the Reorganized Debtors shall serve at the pleasure of their respective boards and the selection of officers of the Reorganized Debtors shall be as provided
by their respective organizational documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;Except to the extent that a member of the board of directors or
a manager, as applicable, of a Debtor continues to serve as a director or manager of such Debtor on and after the Effective Date, the members of the board of directors or managers of each Debtor prior to the Effective Date, in their capacities as
such, shall have no continuing obligations to the Reorganized Debtors on or after the Effective Date and each such director or manager shall be deemed to have resigned or shall otherwise cease to be a director or manager of the applicable Debtor on
the Effective Date. Commencing on the Effective Date, each of the directors and managers of each of the Reorganized Debtors shall be elected and serve pursuant to the terms of the applicable organizational documents of such Reorganized Debtor and
may be replaced or removed in accordance with such organizational documents. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.8.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Restructuring
Transactions.</I></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;On or as soon as practicable after the Effective Date, but to the extent taken on or
prior to the Effective Date, with the consent of the Tidewater Lender and Noteholder Group, such consent not to be unreasonably withheld, the Reorganized Debtors shall take such actions as may be or become necessary or appropriate to effect any
transaction described in, approved by, contemplated by, or necessary to effectuate the Plan, including, without limitation, (i)&nbsp;the execution and delivery of appropriate agreements or other documents of merger, consolidation, restructuring,
financing, conversion, disposition, transfer, dissolution, or liquidation containing terms that are consistent with the terms of the Plan and the Definitive Documents that satisfy the applicable requirements of applicable law and any other terms to
which the applicable Entities may agree, (ii)&nbsp;the execution and delivery of appropriate instruments of transfer, assignment, assumption, or delegation of any asset, property, right, liability, debt, or obligation on terms consistent with the
terms of the Plan and the Definitive Documents having other terms to which the applicable parties agree, (iii)&nbsp;the filing of appropriate certificates or articles of incorporation, reincorporation, merger, consolidation, conversion, or
dissolution and the Amended Organizational Documents pursuant to applicable state law, (iv)&nbsp;the execution and delivery of the applicable documents included in the Restructuring Support Agreement or the Plan Supplement, as applicable, including
but not limited to, the New Indenture, the New Creditor Warrant Agreement, the New Existing Warrant Agreement, and the Registration Rights Agreement; (v)&nbsp;the issuance of securities, all of which shall be authorized and approved in all respects
in each case without further action being required under applicable law, regulation, order, or rule, and (vi)&nbsp;all other actions that the applicable Entities determine to be necessary or appropriate, including making filings or recordings that
may be required by applicable law, subject, in each case, to the Amended Organizational Documents.&nbsp;For purposes of effectuating the Plan, none of the transactions contemplated in this Section&nbsp;5.8 shall constitute a change of control under
any agreement, contract, or document of the Debtors (other than with respect to the CIC Agreements, in which case the terms of the applicable CIC Waiver Letters shall govern). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Each officer, member of the board of directors, or manager of the
Debtors is (and each officer, member of the board of directors, or manager of the Reorganized Debtors shall be) authorized and directed to issue, execute, deliver, file, or record such contracts, securities, instruments, releases, indentures, and
other agreements or documents and take such actions as may be necessary or appropriate to effectuate, implement, and further evidence the terms and conditions of the Plan and the securities issued pursuant to the Plan in the name of and on behalf of
the Reorganized Debtors, all of which shall be authorized and approved in all respects, in each case, without the need for any approvals, authorization, consents, or any further action required under applicable law, regulation, order, or rule
(including, without limitation, any action by the stockholders or directors or managers of the Debtors or the Reorganized Debtors) except for those expressly required pursuant to the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;All matters provided for herein involving the corporate structure of the Debtors or Reorganized Debtors, or any
corporate, limited liability company, or related action required by the Debtors or Reorganized Debtors in connection herewith shall be deemed to have occurred and shall be in effect, without any requirement of further action by the stockholders,
members, directors, or managers of the Debtors or Reorganized Debtors, and with like effect as though such action had been taken unanimously by the stockholders, members, directors, or managers, as applicable, of the Debtors or Reorganized Debtors.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;To the extent that any New Common Stock, New Creditor Warrants, or New Secured Notes are distributed pursuant
to the Plan to a holder of an Allowed Claim against a Debtor other than Tidewater Parent, such New Common Stock, New Creditor Warrant, or New Secured Notes shall be treated as contributed by Reorganized Tidewater Parent directly or indirectly to
such Debtor and then distributed on behalf of such Debtor in accordance with the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;On the Effective Date,
to enhance tax efficiencies, Debtor Tidewater Marine Western Inc. will be converted from a Texas corporation to a Delaware limited liability company and Tidewater Marine Alaska Inc. will be merged with and into Gulf Fleet Supply Vessels, L.L.C. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.9.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Cancellation of Liens.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Upon the payment or other satisfaction of an Allowed Secured Claim, the holder of such Allowed Secured Claim shall deliver to the Debtors or
Reorganized Debtors (as applicable) any collateral or other property of the Debtors held by such holder, and any termination statements, instruments of satisfaction, or releases of all security interests with respect to its Allowed Secured Claim
that may be required in order to terminate any related financing statements, mortgages, mechanic&#146;s liens, or lis pendens, or other similar interests or documents. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.10.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>New Indenture</I></B><B><I>.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;On the Effective Date, Reorganized Tidewater Parent, the other Reorganized Debtors that are guarantors, and the New
Indenture Trustee shall enter into the New Indenture substantially in the form included in the Plan Supplement. The Debtors and the Reorganized Debtors shall be authorized to execute, deliver, and enter into and perform under the New Indenture
without the need for any further corporate or limited liability company action and without further action by the holders of Claims or Interests. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;The Confirmation Order shall include approval of the New Indenture
(including the transactions contemplated thereby, including all actions to be taken, all undertakings to be made, and obligations to be incurred by the Reorganized Debtors in connection therewith, including the payment of all fees, indemnities, and
expenses provided for therein), the granting of any Liens and security interests in favor of the lenders under the New Indenture securing such obligations, and authorization for the Reorganized Debtors to enter into and execute the New Indenture and
such other documents as may be required to effectuate the treatment afforded to the lenders under the New Indenture, including any and all documents that serve to evidence and secure the Reorganized Debtors&#146; respective obligations under the New
Indenture and any Liens and security interests in favor of the lenders under the New Indenture which Liens or security interests secure such obligations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;On the Effective Date, (i)&nbsp;the Reorganized Debtors are authorized to execute and deliver the New Indenture and
any and all security agreements, guarantees, mortgages, or extensions of mortgages, certificates, control agreements, insurance documents, opinions, and other instruments, agreements, assignments, and documents contemplated or required by the New
Indenture, including any and all such documents that serve to evidence and secure the Reorganized Debtors&#146; respective obligations under the New Indenture and any Liens and security interests in favor of the lenders under the New Indenture
securing such obligations, and perform their obligations thereunder including the payment or reimbursement of any fees, expenses, losses, damages, or indemnities, and (ii)&nbsp;subject to the occurrence of the Effective Date, the New Indenture as
and when executed and delivered in accordance with the terms of the New Indenture, any and all security agreements, guarantees, mortgages or extensions of mortgages, certificates, control agreements, insurance documents, opinions, and other
instruments, agreements, assignments, and documents contemplated or required by the New Indenture, including any and all such documents that serve to evidence and secure the Reorganized Debtors&#146; respective obligations under the New Indenture
and any Liens and security interests in favor of the lenders under the New Indenture securing such obligations, shall constitute the legal, valid, and binding obligations of the Reorganized Debtors and be enforceable in accordance with their
respective terms. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.11.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Registration Rights Agreement</I></B><B><I>.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">No later than the Effective Date, the Debtor or the Reorganized Debtor, as applicable, and the Registration Rights Parties will enter into the
Registration Rights Agreement. The Registration Rights Agreement shall provide the Registration Rights Parties with commercially reasonable demand and piggyback registration rights. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.12.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Employee Matters.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;On the Effective Date, the Employment Arrangements shall be deemed to be, and shall be treated as executory
contracts and the Reorganized Debtors shall be deemed to have assumed all such Employment Arrangements unless rejected pursuant to Article VIII of the Plan or by agreement of the Debtors and each affected employee. The consummation of the Plan shall
not be treated as a change in control or change of control or other similar transaction under any Employment Arrangements (other than with respect to the CIC Agreements, in which case the terms of the applicable CIC Waiver Letters shall govern).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything herein to the contrary, any Tidewater Parent Interests issued and outstanding as of
immediately prior to the Petition Date pursuant to a Benefit Plan that have not been subsequently forfeited (or agreed to be forfeited) by the holder thereof (either voluntarily or by operation of the terms of such Benefit Plan, with effect as of
any time on or prior to the Effective Date) shall be deemed to vest immediately prior to the Distribution Record Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.13.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Nonconsensual Confirmation.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Debtors intend to undertake to have the Bankruptcy Court confirm the Plan under section 1129(b) of the Bankruptcy Code as to any Classes
that reject or are deemed to reject the Plan. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.14.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Closing of Chapter 11 Cases.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">After an Estate has been fully administered, the Reorganized Debtors shall promptly seek authority from the Bankruptcy Court to close the
applicable Chapter 11 Case(s) in accordance with the Bankruptcy Code and Bankruptcy Rules. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.15.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Notice of
Effective Date.</I></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On the Effective Date, the Debtors shall file a notice of the occurrence of the Effective Date with the Bankruptcy
Court. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.16.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Separability.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the combination of separate plans of reorganization for the Debtors set forth in the Plan for purposes of economy and
efficiency, the Plan constitutes a separate chapter 11 plan for each Debtor. Accordingly, if the Bankruptcy Court does not confirm the Plan with respect to one or more Debtors, it may still confirm the Plan with respect to any other Debtor that
satisfies the confirmation requirements of section 1129 of the Bankruptcy Code with the consent of the Requisite Consenting Tidewater Lenders and the Requisite Consenting Noteholders, which consent shall not be unreasonably withheld. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VI&nbsp;&nbsp;&nbsp;&nbsp;DISTRIBUTIONS. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.1.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Distributions Generally.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">One or more Disbursing Agents shall make all distributions under the Plan to the holders or the Permitted Designees, as applicable, of Allowed Claims in
accordance with the terms of the Plan. Such distributions shall be made to holders or Permitted Designees, as applicable, of Allowed Claims on behalf of the respective Debtors to which such Allowed Claims relate. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.2.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Distribution Record Date.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">As of the close of business on the Distribution Record Date, the various transfer registers for each of the Classes of Claims or Interests as
maintained by the Debtors or their respective agents, shall be deemed closed, and there shall be no further changes in the record holders or the Permitted Designees of any of the Claims or Interests. The Debtors or the Reorganized Debtors shall have
no obligation to recognize any transfer or designation of the Claims or Interests occurring after the close of business on the Distribution Record Date. In addition, with respect to payment of any Cure amounts or Assumption Disputes, neither the
Debtors nor the Disbursing Agent shall have any obligation to recognize or deal with any party other than the <FONT STYLE="white-space:nowrap">non-Debtor</FONT> party to the applicable executory contract or unexpired lease as of the close of
business on the Distribution Record Date, even if such <FONT STYLE="white-space:nowrap">non-Debtor</FONT> party has sold, assigned, or otherwise transferred its Claim for a Cure amount. Notwithstanding the foregoing, the Distribution Record Date
shall not apply to the Existing Interests, the holders of which shall receive a distribution via mandatory or deemed exchange in accordance with Section&nbsp;4.7 of the Plan on or as soon as practicable after the Effective Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.3.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Date of Distributions.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise provided in the Plan, any distributions and deliveries to be made under the Plan shall be made on the Effective Date or as
otherwise determined in accordance with the Plan, including, without limitation, the treatment provisions of Article IV of the Plan, or as soon as practicable thereafter; <I>provided</I>,<I> </I>that the Reorganized Debtors may implement periodic
distribution dates to the extent they reasonably determine them to be appropriate, and if on or prior to the Effective Date, in consultation with the Tidewater Lender and Noteholder Group. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.4.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Disbursing Agent.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All distributions under the Plan shall be made by Reorganized Tidewater Parent (or such other Entity designated by Reorganized Tidewater
Parent), as Disbursing Agent, on or after the Effective Date or as otherwise provided in the Plan solely to Permitted Designees as provided in Section&nbsp;4.3(c) of the Plan or to the record holders of Claims and Interests as of the Distribution
Record Date who are entitled to receive distributions under the Plan. A Disbursing Agent shall not be required to give any bond or surety or other security for the performance of its duties. The Reorganized Debtors shall use commercially reasonable
efforts to provide the Disbursing Agent (if other than the Reorganized Debtors) with the amounts of Claims and the identities and addresses of holders of Claims and Interests as of the Distribution Record Date, in each case, as set forth in the
Debtors&#146; or Reorganized Debtors&#146; books and records. The Reorganized Debtors shall cooperate in good faith with the applicable Disbursing Agent (if other than the Reorganized Debtors) to comply with the reporting and withholding
requirements outlined in Section&nbsp;6.20 of the Plan. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.5.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Rights and Powers of Disbursing Agent.</I></B>
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;From and after the Effective Date, the Disbursing Agent, solely in its capacity as Disbursing Agent, shall be
exculpated by all Entities, including, without limitation, holders of Claims against and Interests in the Debtors and other parties in interest, from any and all Claims, Causes of Action, and other assertions of liability arising out of the
discharge of the powers and duties conferred upon such Disbursing Agent by the Plan or any order of the Bankruptcy Court entered pursuant to or in furtherance of the Plan, or applicable law, except for actions or omissions to act arising out of the
gross negligence or willful misconduct, fraud, malpractice, criminal conduct, or <I>ultra vires</I> acts of such Disbursing Agent. No holder of a Claim or Interest or other party in interest shall have or pursue any claim or Cause of Action against
the Disbursing Agent, solely in its capacity as Disbursing Agent, for making payments in accordance with the Plan or for implementing provisions of the Plan, except for actions or omissions to act arising out of the gross negligence or willful
misconduct, fraud, malpractice, criminal conduct, or <I>ultra vires</I> acts of such Disbursing Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;A
Disbursing Agent shall be empowered to (i)&nbsp;effect all actions and execute all agreements, instruments, and other documents necessary to perform its duties hereunder, (ii)&nbsp;make all distributions contemplated hereby, (iii)&nbsp;employ
professionals to represent it with respect to its responsibilities, and (iv)&nbsp;exercise such other powers as may be vested in the Disbursing Agent by order of the Bankruptcy Court, pursuant to the Plan, or as deemed by the Disbursing Agent to be
necessary and proper to implement the provisions of the Plan. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.6.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Expenses of Disbursing Agent.</I></B>
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">To the extent the Disbursing Agent is an Entity other than a Debtor or Reorganized Debtor, except as otherwise ordered by the Bankruptcy
Court and subject to the written agreement of the Reorganized Debtors, the amount of any reasonable fees and expenses incurred by the Disbursing Agent </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
on or after the Effective Date (including taxes) and any reasonable compensation and expense reimbursement Claims (including for reasonable attorneys&#146; and other professional fees and
expenses) made by the Disbursing Agent shall be paid in Cash by the Reorganized Debtors in the ordinary course of business. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.7.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>No Postpetition Interest on Claims</I></B><B><I>.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except to the extent that payments to Allowed Other General Unsecured Claims are not paid pursuant to Section&nbsp;4.4 of the Plan in the
ordinary course or as otherwise provided in the Plan, the Confirmation Order, or another order of the Bankruptcy Court or required by the Bankruptcy Code, interest shall not accrue or be paid on any Claims on or after the Petition Date;
<I>provided</I>, <I>however</I>, if interest is payable pursuant to the preceding sentence, interest shall accrue, and shall be paid, in accordance with any applicable law, agreement, document, or Final Order, as the case may be, from the date the
obligation underlying the Claim becomes due and is not timely paid through the date of payment. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.8.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Delivery of Distributions.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to Bankruptcy Rule 9010, all distributions to any holder or Permitted Designee, as applicable, of an Allowed
Claim or Interest shall be made to a Disbursing Agent, who shall transmit such distribution to the applicable holders or Permitted Designees of Allowed Claims or Interests on behalf of the respective Debtor. In the event that any distribution to any
holder or Permitted Designee is returned as undeliverable, no further distributions shall be made to such holder or such Permitted Designee unless and until such Disbursing Agent is notified in writing of such holder&#146;s or Permitted
Designee&#146;s, as applicable, then-current address, at which time all <FONT STYLE="white-space:nowrap">currently-due,</FONT> missed distributions shall be made to such holder as soon as reasonably practicable thereafter without interest. Nothing
herein shall require the Disbursing Agent to attempt to locate holders or Permitted Designees, as applicable, of undeliverable distributions and, if located, assist such holders or Permitted Designees, as applicable, in complying with
Section&nbsp;6.20 of the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Distributions of the New Common Stock, the New Warrants, and the New Secured
Notes on account of Allowed General Unsecured Claims and Existing Interests held through DTC shall be made through the facilities of DTC in accordance with DTC&#146;s customary practices.&nbsp;All New Common Stock, New Warrants, and New Secured
Notes to be distributed pursuant to the Plan shall, for General Unsecured Claims, be issued in the names of such holders, their nominees of record, or their Permitted Designees as of the Distribution Record Date, and, for holders of Existing
Interests, be issued pursuant to a mandatory or deemed exchange on or as soon as practicable after the Effective Date, each&nbsp;in accordance with DTC&#146;s book-entry procedures, to the extent applicable; <I>provided</I>, that such New Common
Stock, New Warrants, and New Secured Notes are permitted to be held through DTC&#146;s book-entry system; <I>provided</I>, <I>further</I>, that to the extent that the New Common Stock, New Warrants, or New Secured Notes are not eligible for
distribution in accordance with DTC&#146;s customary practices, Reorganized Tidewater Parent will, and if on or prior to the Effective Date, in consultation with the Tidewater Lender and Noteholder Group, take such reasonable actions as may be
required to cause distributions of the New Common Stock, the New Warrants, and the New Secured Notes under the Plan.&nbsp;Except with respect to Existing Interests not held through DTC, no distributions will be made other than through DTC if the New
Common Stock, the New Warrants, and the New Secured Notes are permitted to be held through DTC&#146;s book entry system.&nbsp;Any distribution that otherwise would be made to any holder eligible to receive a distribution of a security available
solely through DTC who does not own or hold an account eligible to receive a distribution through DTC on a relevant distribution date shall be forfeited. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.9.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Distributions to Class</I></B><B><I></I></B><B><I>&nbsp;3
General Unsecured Claims.</I></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;In addition to the Disputed Claims Reserve provided for in Section&nbsp;7.5
of the Plan, there shall be withheld from the Cash and the New Creditor Warrants (which withheld New Creditor Warrants shall not be issued by Reorganized Tidewater Parent and distributed on behalf of the respective Reorganized Debtor until such time
as such New Creditor Warrants are to be distributed pursuant to this Section&nbsp;6.9) to be distributed to holders of Allowed General Unsecured Claims on the Class&nbsp;3 Initial Distribution Date, an amount of Cash and New Creditor Warrants that
would be distributable to Disputed Sale Leaseback Claims pursuant to Section&nbsp;4.3 of the Plan had such Claims been Allowed in the amount to be reserved on account of such Claims, as set forth in the Rejection Orders, on the Effective Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;At such time as all Disputed Sale Leaseback Claims have been Allowed or Disallowed, any remaining withheld New
Creditor Warrants shall be distributed as soon as reasonably practicable to all holders or Permitted Designee(s), as applicable, of Allowed General Unsecured Claims in accordance with Section&nbsp;4.3 of the Plan based on their Pro Rata share as of
the Class&nbsp;3 Final Distribution Date. Distributions of the New Secured Notes from the Disputed Claims Reserve and any remaining withheld Cash retained by the Reorganized Debtors with respect to the Sale Leaseback Claims, as described in
Section&nbsp;6.9(a) of the Plan, shall be governed by Section&nbsp;7.5 of the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;If at any time or from
time to time after the Effective Date and prior to the date that all Sale Leaseback Claims have been Allowed or Disallowed, the number of outstanding shares of New Common Stock is (i)&nbsp;increased by a share dividend or share distribution to all
holders of New Common Stock, in each case payable in shares of New Common Stock, or by a subdivision, (ii)&nbsp;reduced by a combination of shares, or (iii)&nbsp;otherwise increased or decreased by a reclassification of shares of New Common Stock
(or any event similar in effect to any of the foregoing), then Tidewater Parent shall make such adjustment in the determination of the amount of New Creditor Warrants to be distributed pursuant to this Section&nbsp;6.9 as it determines in good faith
to be equitable in the circumstance (such adjustment to be equitably made with reference to adjustments made to outstanding New Creditor Warrants under the terms of the New Creditor Warrant Agreement). </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.10.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Distributions after Effective Date.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Distributions made after the Effective Date to holders of Disputed Claims that are not Allowed Claims as of the Effective Date but which later
become Allowed Claims shall be deemed to have been made on the Effective Date. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.11.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Unclaimed
Property.</I></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Undeliverable distributions or unclaimed distributions shall remain in the possession of the Debtors until such time as
a distribution becomes deliverable or holder or Permitted Designee, as applicable, accepts distribution, or such distribution reverts back to the Debtors or Reorganized Debtors, as applicable, and shall not be supplemented with any interest,
dividends, or other accruals of any kind. Such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one hundred and eighty (180)&nbsp;days from the date of distribution. After such date
all unclaimed property or interest in property shall revert to the Reorganized Debtors, and the Claim of any other holder to such property or interest in property shall be discharged and forever barred. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.12.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Time Bar to Cash Payments.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Checks issued by the Disbursing Agent in respect of Allowed Claims shall be null and void if not negotiated within one hundred and eighty
(180)&nbsp;days after the date of issuance thereof. Thereafter, the amount represented by such voided check shall irrevocably revert to the Reorganized Debtors, and any Claim in respect of such voided check shall be discharged and forever barred,
notwithstanding any federal or state escheat laws to the contrary. Requests for <FONT STYLE="white-space:nowrap">re-issuance</FONT> of any check shall be made to the Disbursing Agent by the holder or the Permitted Designee(s), as applicable, of the
Allowed Claim to whom such check was originally issued. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.13.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Manner of Payment under Plan.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise specifically provided in the Plan, at the option of the Debtors or the Reorganized Debtors, as applicable, any Cash payment
to be made hereunder may be made by a check or wire transfer or as otherwise required or provided in applicable agreements or customary practices of the Debtors; <I>provided</I>, <I>however</I>, that any Cash payments made by check to a holder of an
Allowed General Unsecured Claim must be consented to by the applicable holder, such consent not to be unreasonably withheld. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.14.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Satisfaction of Claims.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise specifically provided in the Plan, any distributions and deliveries to be made on account of Allowed Claims under the Plan
shall be in complete and final satisfaction, settlement, and discharge of and exchange for such Allowed Claims. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.15.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Fractional Stock.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any distributions of New Common Stock or New Warrants pursuant to the Plan would result in the issuance of a fractional share of New Common
Stock, then the number of shares of New Common Stock or New Warrants to be issued in respect of such distribution shall be calculated to one decimal place and rounded up or down to the closest whole share (with a half share or greater rounded up and
less than a half share rounded down). The total number of shares of New Common Stock or New Warrants to be distributed in connection with the Plan shall be adjusted as necessary to account for the rounding provided for in this Section&nbsp;6.15. The
New Secured Notes shall be issued in denominations of One Dollar ($1) or any integral multiples thereof and any other amounts shall be rounded down. No consideration shall be provided in lieu of fractional shares or notes that are rounded down.
Neither the Reorganized Debtors nor the Disbursing Agent shall have any obligation to make a distribution that is less than one (1)&nbsp;share of New Common Stock or one (1)&nbsp;New Warrant. New Common Stock and New Warrants that are not
distributed in accordance with this Section&nbsp;6.15 shall be returned to, and ownership thereof shall vest in, Reorganized Tidewater Parent. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.16.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Minimum Cash Distributions.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Disbursing Agent shall not be required to make any distribution of Cash less than One Hundred Dollars ($100) to any holder or Permitted
Designee(s), as applicable, of an Allowed Claim; <I>provided</I>, <I>however</I>, that if any distribution is not made pursuant to this Section&nbsp;6.16, such distribution shall be added to any subsequent distribution to be made on behalf of the
holder&#146;s Allowed Claim. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.17.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Setoffs and Recoupments.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Debtors and the Reorganized Debtors, as applicable, or such entity&#146;s designee (including, without limitation, the Disbursing Agent),
may, but shall not be required to, set off or recoup against any Claim, and any distribution to be made on account of such Claim, any and all claims, rights, and Causes of Action of any nature whatsoever that the Debtors or the Reorganized Debtors
may have against the holder of such Claim pursuant to the Bankruptcy Code or applicable nonbankruptcy law; <I>provided</I>, <I>however</I>, that neither the failure to do so nor the allowance of any Claim hereunder shall constitute a waiver or
release by a Debtor or Reorganized Debtor or its successor of any claims, rights, or Causes of Action that a Debtor or Reorganized Debtor or its successor or assign may possess against the holder of such Claim. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.18.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Allocation of Distributions between Principal and Interest.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise required by law (as reasonably determined by the Reorganized Debtors), distributions with respect to an Allowed Claim shall
be allocated first to the principal portion of such Allowed Claim (as determined for United States federal income tax purposes) and, thereafter, to the remaining portion of such Allowed Claim, if any. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.19.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>No Distribution in Excess of Amount of Allowed Claim.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything in the Plan to the contrary, no holder or Permitted Designee, as applicable, of an Allowed Claim shall receive, on
account of such Allowed Claim, distributions in excess of the Allowed amount of such Claim plus any postpetition interest on such Claim, to the extent such interest is permitted by Section&nbsp;6.7 of the Plan. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.20.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Withholding and Reporting Requirements.</I></B><B><I> </I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Withholding Rights</I>. In connection with the Plan, any party issuing any instrument or making any distribution
described in the Plan shall comply with all applicable withholding and reporting requirements imposed by any federal, state, or local taxing authority, and all distributions pursuant to the Plan and all related agreements shall be subject to any
such withholding or reporting requirements. In the case of a <FONT STYLE="white-space:nowrap">non-Cash</FONT> distribution that is subject to withholding, the distributing party may withhold an appropriate portion of such distributed property and
either (i)&nbsp;sell such withheld property to generate Cash necessary to pay over the withholding tax (or reimburse the distributing party for any advance payment of the withholding tax), or (ii)&nbsp;pay the withholding tax using its own funds and
retain such withheld property. Any amounts withheld pursuant to the preceding sentence shall be deemed to have been distributed to and received by the applicable recipient for all purposes of the Plan. Notwithstanding the foregoing, each holder or
Permitted Designee, as applicable, of an Allowed Claim or any other Entity that receives a distribution pursuant to the Plan shall have responsibility for any taxes imposed by any governmental unit, including, without limitation, income,
withholding, and other taxes, on account of such distribution. In the event any party issues any instrument or makes any <FONT STYLE="white-space:nowrap">non-Cash</FONT> distribution pursuant to the Plan that is subject to withholding tax and such
issuing or distributing party has not sold such withheld property to generate Cash to pay the withholding tax or paid the withholding tax using its own funds and retains such withheld property as described above, such issuing or distributing party
has the right, but not the obligation, to not make a distribution until such holder or Permitted Designee, as applicable, has made arrangements reasonably satisfactory to such issuing or disbursing party for payment of any such tax obligations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Forms</I>. Any party entitled to receive any property as an issuance or distribution under the Plan shall, upon
request, deliver to the Disbursing Agent or such other Entity designated by the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Reorganized Debtors (which Entity shall subsequently deliver to the Disbursing Agent any applicable IRS Form <FONT STYLE="white-space:nowrap">W-8</FONT> or Form
<FONT STYLE="white-space:nowrap">W-9</FONT> received) an appropriate Form <FONT STYLE="white-space:nowrap">W-9</FONT> or (if the payee is a foreign Entity) Form <FONT STYLE="white-space:nowrap">W-8</FONT> and any other forms or documents reasonably
requested by any Reorganized Debtor to reduce or eliminate any withholding required by any federal, state, or local taxing authority. If such request is made by the Reorganized Debtors, the Disbursing Agent, or such other Entity designated by the
Reorganized Debtors or Disbursing Agent and the holder or Permitted Designee, as applicable, fails to comply before the date that is three hundred sixty-five (365)&nbsp;days after the request is made, the amount of such distribution shall
irrevocably revert to the applicable Reorganized Debtor and any Claim in respect of such distribution shall be discharged and forever barred from assertion against such Reorganized Debtor or its respective property. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.21.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Hart-Scott-Rodino Antitrust Improvements Act.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any New Common Stock to be distributed under the Plan to an Entity required to file a premerger notification and report form under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, to the extent applicable, shall not be distributed until the notification and waiting periods applicable under such Act to such Entity have expired or been terminated. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VII&nbsp;&nbsp;&nbsp;&nbsp;PROCEDURES FOR DISPUTED CLAIMS. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.1.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Disputed Claims Process.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding section 502(a) of the Bankruptcy Code, holders of Other General Unsecured Claims need not file proofs of Claim with the
Bankruptcy Court, and the Reorganized Debtors and the holders of Claims shall determine, adjudicate, and resolve any disputes over the validity and amounts of such Claims in the ordinary course of business; <I>provided</I>, <I>that</I> (unless
expressly waived pursuant to the Plan) the Allowed amount of such Claims shall be subject to and shall not exceed the limitations under or maximum amounts permitted by the Bankruptcy Code, including sections 502 or 503 of the Bankruptcy Code, to the
extent applicable. If a holder of a Claim elects to file a proof of claim with the Bankruptcy Court, such holder shall be deemed to have consented to the jurisdiction of the Bankruptcy Court for all purposes with respect to the Claim, and the
Bankruptcy Court shall retain nonexclusive jurisdiction over all such Claims, which shall be resolved on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">case-by-case</FONT></FONT> basis through settlements, Claim objections (or,
if necessary, through adversary proceedings), adjudication in a forum other than the Bankruptcy Court, or by withdrawal of the Claims by the holders of such Claims. Except for proofs of Claim that have been objected to by the Debtors before the
Effective Date, upon the Effective Date, any filed Claim, regardless of the time of filing, and including Claims filed after the Effective Date, shall be deemed withdrawn without further notice to, action, order, or approval of the Bankruptcy Court
or any other Entity. To the extent not otherwise provided in the Plan, the deemed withdrawal of a proof of claim is without prejudice to such claimant&#146;s rights under this Section&nbsp;7.1 of the Plan to assert its Claims in any forum as though
the Debtors&#146; Chapter 11 Cases had not been commenced. From and after the Effective Date, the Reorganized Debtors may satisfy, dispute, settle, or otherwise compromise any Claim, including a Claim in connection with or related to the assumption
or rejection of an executory contract or unexpired lease, without approval of the Bankruptcy Court. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.2.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Estimation of Claims.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Debtors or the Reorganized Debtors, as applicable, may at any time request that the Bankruptcy Court estimate any contingent, unliquidated,
or Disputed Claim pursuant to section 502(c) of the Bankruptcy Code regardless of whether the Debtors previously objected to such Claim or whether the Bankruptcy Court has ruled on any such objection, and the Bankruptcy Court shall retain
jurisdiction to estimate any Claim at any time during litigation concerning any objection to any Claim, including, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
without limitation, during the pendency of any appeal relating to any such objection. In the event that the Bankruptcy Court estimates any contingent, unliquidated, or Disputed Claim, the amount
so estimated shall constitute either the Allowed amount of such Claim or a maximum limitation on such Claim, as determined by the Bankruptcy Court. If the estimated amount constitutes a maximum limitation on the amount of such Claim, the Debtors or
the Reorganized Debtors may pursue supplementary proceedings to object to the allowance of such Claim. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.3.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>No Distributions Pending Allowance.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an objection, motion to estimate, or other challenge to a Claim is filed, no payment or distribution provided under the Plan shall be made
on account of such Claim unless and until (and only to the extent that) such Claim becomes an Allowed Claim. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.4.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Distributions after Allowance.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">To the extent that a Disputed Claim ultimately becomes an Allowed Claim, distributions (if any) shall be made to the holder of such Allowed
Claim in accordance with Section&nbsp;7.5 and other provisions of the Plan, including the treatment provisions provided in Article IV of the Plan and Section&nbsp;6.3 of the Plan. Holders of Disputed Claims that ultimately become Allowed Claims
shall not be entitled to payment of interest (except as provided in Section&nbsp;7.5 of the Plan with respect to interest accruing in connection with the New Secured Notes held in the Disputed Claims Reserve) unless otherwise provided in the Plan,
in a Final Order, or required under applicable bankruptcy law. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.5.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Disputed Claims
Reserve</I></B><B><I>.</I></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;There shall be withheld from the New Secured Notes to be distributed to holders
of Allowed General Unsecured Claims an amount of New Secured Notes that would be distributable to holders of Disputed Sale Leaseback Claims had such Claims been Allowed in the amount to be reserved on account of such Claims, as set forth in the
Rejection Orders, on the Effective Date, together with all earnings thereon (net of any expenses relating thereto, including any taxes imposed thereon or otherwise payable by the Disputed Claims Reserve). The Disbursing Agent shall hold in the
Disputed Claims Reserve such New Secured Notes and all payments and other distributions made on account of, as well as any obligations arising from, property held in the Disputed Claims Reserve, to the extent that such property continues to be so
held at the time such distributions are made or such obligations arise, and such payments or other distributions shall be held for the benefit of (a)&nbsp;holders of Disputed Sale Leaseback Claims, and (b)&nbsp;other parties entitled thereto
hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;On the Petition Date, the Debtors will file the Rejection Motion, seeking entry of interim and
final orders (i)&nbsp;authorizing the rejection of the Sale Leaseback Agreements, (ii)&nbsp;temporarily allowing the Disputed Sale Leaseback Claims for voting and reserve purposes only, (iii)&nbsp;setting briefing schedule relating thereto,
(iv)&nbsp;objecting to final allowance of the Disputed Sale Leaseback Claims, and (v)&nbsp;granting related relief. The amount of the Disputed Claims Reserve shall be established by the Bankruptcy Court pursuant to the Rejection Orders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;Subject to definitive guidance from the IRS or a court of competent jurisdiction to the contrary, or the receipt of
a determination by the IRS, the Disbursing Agent shall (i)&nbsp;treat any assets held in the Disputed Claims Reserve allocable (including retained on account of) Disputed Sale Leaseback Claims as a &#147;disputed ownership fund&#148; governed by
Treasury Regulation section <FONT STYLE="white-space:nowrap">1.468B-9,</FONT> and (ii)&nbsp;to the extent permitted by applicable law, report consistently with the foregoing for state and local income tax purposes. All parties (including, without
limitation, the Debtors, Reorganized Tidewater Parent, the Disbursing Agent, and the holders of General Unsecured Claims) shall report for tax purposes </P>
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consistently with such treatment. The Disbursing Agent shall be responsible for payment, out of the assets of the Disputed Claims Reserve with respect to each Disputed Sale Leaseback Claim, of
any taxes imposed on the Disputed Claims Reserve or its assets attributable to each Disputed Sale Leaseback Claim. In the event, and to the extent, any Cash in the Disputed Claims Reserve allocable to a particular Disputed Sale Leaseback Claim is
insufficient to pay taxes attributable to any taxable income arising from the assets of the Disputed Claims Reserve allocable to such Claim (including any income that may arise upon the distribution of such assets from the Disputed Claims Reserve),
the Disbursing Agent may satisfy such taxes (x)&nbsp;out of the Cash retained by the Reorganized Debtors with respect to such Claim, or (y)&nbsp;from the sale of a portion of the assets of the Disputed Claims Reserve allocable to such Claim. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;To the extent that a Sale Leaseback Claim is Disputed on the Effective Date and later becomes an Allowed Claim, the
Disbursing Agent shall distribute to the holder thereof on the next Interim Distribution Date, the distribution, if any, of (i)&nbsp;the New Secured Notes out of the Disputed Claims Reserve to which such holder is entitled under the Plan, together
with an amount in Cash equal to the interest actually paid prior to such Interim Distribution Date on the principal amount of New Secured Notes so distributed (net of any expenses relating thereto, including any taxes imposed thereon or otherwise
payable by the Disputed Claims Reserve), based on such holder&#146;s Pro Rata share, as of the Effective Date, and (ii)&nbsp;such holder&#146;s Pro Rata share, as of the Effective Date, of Cash (net of any allocable expenses relating thereto,
including any allocable expenses of the Disputed Claims Reserve paid out of such Cash) and New Creditor Warrants withheld in accordance with Section&nbsp;4.3 and Section&nbsp;6.9 of the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;At such time as all Disputed Sale Leaseback Claims have been resolved, any remaining withheld New Secured Notes and
Cash in the Disputed Claims Reserve and any remaining Cash retained by the Reorganized Debtor with respect to Disputed Sale Leaseback Claims shall be distributed as soon as practicable: (i)&nbsp;first, to all holders of Sale Leaseback Claims that
became Allowed Claims after the Effective Date to the extent of any reduction in the amount of Cash and/or New Secured Notes distributed to such holders on account of any expenses of the Disputed Claims Reserve (including any taxes imposed upon or
payable by the reserve), and as among such holders, in proportion to each such holder&#146;s relative portion of the total of reductions, and (ii)&nbsp;thereafter, together with any remaining New Creditor Warrants retained by the Reorganized Debtor
with respect to the Disputed Sale Leaseback Claims, to all holders of Allowed General Unsecured Claims in accordance with Section&nbsp;4.3 of the Plan. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.6.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Claim Resolution Procedures Cumulative.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All of the objection, estimation, and resolution procedures in the Plan are intended to be cumulative and not exclusive of one another. Claims
may be estimated and subsequently settled, compromised, withdrawn, or resolved in accordance with the Plan without further notice or Bankruptcy Court approval. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VIII&nbsp;&nbsp;&nbsp;&nbsp;EXECUTORY CONTRACTS AND UNEXPIRED LEASES. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.1.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>General Treatment.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">As of and subject to the occurrence of the Effective Date and the payment of any applicable Cure amounts, all executory contracts and unexpired
leases to which any of the Debtors are a party, and which have not expired by their own terms on or prior to the Confirmation Date, including the Employment Arrangements, shall be deemed assumed except for any executory contract or unexpired lease
that (a)&nbsp;previously has been assumed or rejected pursuant to a Final Order of the Bankruptcy Court, (b)&nbsp;is the subject of a separate motion filed by the Debtors under section 365 of the Bankruptcy Code before the Confirmation Date for
assumption or rejection, or (c)&nbsp;is the subject of a pending Assumption </P>
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Dispute. Subject to the occurrence of the Effective Date, entry of the Confirmation Order by the Bankruptcy Court shall constitute approval of the assumptions provided for in the Plan pursuant to
sections 365(a) and 1123 of the Bankruptcy Code. Each executory contract and unexpired lease assumed pursuant to the Plan shall vest in and be fully enforceable by the applicable Reorganized Debtor in accordance with its terms, except as modified by
the provisions of the Plan, and any order of the Bankruptcy Court authorizing and providing for its assumption or applicable law. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.2.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Determination of Assumption Disputes and Deemed Consent.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Following the Petition Date, the Debtors shall serve a notice on parties to executory contracts and unexpired leases
to be assumed reflecting the Debtors&#146; intention to assume the contract or unexpired lease in connection with the Plan and setting forth the proposed Cure amount (if any). If the counterparty believes any Cure amount is due by the Debtors in
connection with the assumption, it shall assert such Cure amount against the Debtors in the ordinary course of business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Cure amounts shall be paid by the Debtors or Reorganized Debtors in the ordinary course, subject to all defenses
and disputes the Debtors or the Reorganized Debtors may have with respect to such executory contracts or unexpired leases, which the Debtors or Reorganized Debtors may assert in the ordinary course. If there is an Assumption Dispute pertaining to
assumption of an executory contract or unexpired lease, such dispute shall be heard by the Bankruptcy Court prior to such assumption being effective; <I>provided</I>, <I>however</I>, the Debtors or the Reorganized Debtors, as applicable, may settle
any dispute regarding the Cure amount or the nature thereof without any further notice to any party or any action, order, or approval of the Bankruptcy Court. To the extent the Assumption Dispute is resolved or determined by a Final Order
unfavorably to the applicable Debtor or Reorganized Debtor, as applicable, such Debtor or Reorganized Debtor, as applicable, shall have thirty (30)&nbsp;days following entry of such Final Order to file a motion to reject such contract or lease. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;Any counterparty to an executory contract or unexpired lease that fails to object timely to the notice of the
proposed assumption of such contract or lease within ten (10)&nbsp;days of the service thereof shall be deemed to have assented to the assumption of the applicable contract or lease notwithstanding any provision thereof that purports to
(i)&nbsp;prohibit, restrict, or condition the transfer or assignment of such contract or lease, (ii)&nbsp;terminate or modify, or permit the termination or modification of, a contract or lease as a result of any direct or indirect transfer or
assignment of the rights of the Debtors under such contract or lease or a change, if any, in the ownership or control to the extent contemplated by the Plan, (iii)&nbsp;increase, accelerate, or otherwise alter any obligations or liabilities of the
Debtors or the Reorganized Debtors under such executory contract or unexpired lease, or (iv)&nbsp;create or impose a Lien upon any property or asset of the Debtors or the Reorganized Debtors, as applicable. Each such provision shall be deemed to not
apply to the assumption of such executory contract or unexpired lease pursuant to the Plan and counterparties to assumed executory contracts or unexpired leases that fail to object to the proposed assumption in accordance with the terms set forth in
this Section&nbsp;8.2(c) shall forever be barred and enjoined from objecting to the proposed assumption or to the validity of such assumption, or taking actions prohibited by the foregoing on account of transactions contemplated by the Plan. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.3.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Effect of Assumption of Contracts and Leases.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to resolution of any Assumption Dispute, all Cure amounts shall be satisfied by the Debtors or Reorganized Debtors, as the case may be,
upon assumption of the underlying contracts and unexpired leases in the ordinary course. Assumption of any executory contract or unexpired lease pursuant to the Plan, or otherwise, shall result in the full release and satisfaction of any Claims or
defaults, subject to satisfaction of the Cure amount, whether monetary or nonmonetary, including defaults </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


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of provisions restricting the change in control or ownership interest composition or other bankruptcy-related defaults, arising under any assumed executory contract or unexpired lease at any time
before the effective date of the assumption. As provided in Section&nbsp;7.1 of the Plan, on the Effective Date, any proofs of Claim filed with respect to an executory contract or unexpired lease that has been assumed shall be deemed withdrawn
without further notice to, action, order, or approval of the Bankruptcy Court or any other Entity. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.4.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Rejection Claims of Sale Leaseback Parties.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On the Petition Date, the Debtors shall file with the Bankruptcy Court the Rejection Motion. Before the earlier of the entry of the Final Order
determining such motion or the Confirmation Hearing, the Debtors may, and if on or prior to the Effective Date, alter the treatment of such Sale Leaseback Agreements by filing a notice indicating such altered treatment. Upon the filing of such
notice of altered treatment, Sections 8.2 and 8.3 of the Plan shall apply. Notwithstanding anything herein to the contrary, on or prior to the Effective Date, (i)&nbsp;the Debtors and the Reorganized Debtors may not alter, in any way, the treatment
or settle any Disputed Sale Leaseback Claim without the prior written consent of the Requisite Consenting Tidewater Lenders and the Requisite Consenting Noteholders, such consent not to be unreasonably withheld; and (ii)&nbsp;the Debtors must
consult with the Requisite Consenting Tidewater Lenders and the Requisite Consenting Noteholders in connection with any litigation related to or arising from the Sale Leaseback Claims. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.5.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Survival of Debtors</I></B><B><I>&#146;</I></B><B><I> Indemnification Obligations.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Any obligations of the Debtors pursuant to their corporate charters, bylaws, limited liability company agreements,
other organizational documents, or indemnification agreements to indemnify current and former officers, directors, managers, agents, and/or employees with respect to all present and future actions, suits, and proceedings against the Debtors or such
directors, officers, managers, agents, and/or employees, based upon any act or omission for or on behalf of the Debtors, shall not be discharged or impaired by confirmation of the Plan; <I>provided, however</I>, that the Reorganized Debtors shall
not indemnify directors of the Debtors for any Claims or Causes of Action arising out of or relating to any act or omission that constitutes intentional fraud, gross negligence, or willful misconduct. All such obligations shall be deemed and treated
as executory contracts to be assumed by the Debtors under the Plan and shall continue as obligations of the Reorganized Debtors. Any Claim based on the Debtors&#146; obligations herein shall not be a Disputed Claim or subject to any objection in
either case by reason of section 502(e)(1)(B) of the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;In addition, after the Effective Date,
the Reorganized Debtors shall not terminate or otherwise reduce the coverage under any directors&#146; and officers&#146; insurance policies (including any &#147;tail policy&#148;) in effect or purchased as of the Petition Date, and all members,
managers, directors, and officers who served in such capacity at any time before the Effective Date shall be entitled to the full benefits of any such policy for the full term of such policy regardless of whether such members, managers, directors,
and/or officers remain in such positions after the Effective Date, in each case, to the extent set forth in such policies. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.6.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Insurance Policies.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All insurance policies pursuant to which any Debtor has any obligations in effect as of the date of the Confirmation Order shall be deemed and
treated as executory contracts pursuant to the Plan and shall be assumed by the respective Debtors and Reorganized Debtors and shall continue in full force and effect thereafter in accordance with their respective terms. All other insurance policies
shall vest in the Reorganized Debtors. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.7.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Intellectual Property Licenses and Agreements.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All intellectual property contracts, licenses, royalties, or other similar agreements to which the Debtors have any rights or obligations in
effect as of the date of the Confirmation Order shall be deemed and treated as executory contracts pursuant to the Plan and shall be assumed by the respective Debtors and Reorganized Debtors and shall continue in full force and effect unless any
such intellectual property contract, license, royalty, or other similar agreement otherwise is specifically rejected pursuant to a separate order of the Bankruptcy Court or is the subject of a separate rejection motion filed by the Debtors in
accordance with Section&nbsp;8.1 of the Plan. Unless otherwise noted hereunder, all other intellectual property contracts, licenses, royalties, or other similar agreements shall vest in the Reorganized Debtors and the Reorganized Debtors may take
all actions as may be necessary or appropriate to ensure such vesting as contemplated herein. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.8.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Modifications, Amendments, Supplements, Restatements, or Other Agreements.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Unless otherwise provided herein or by separate order of the Bankruptcy Court, each executory contract and unexpired lease that is assumed
shall include any and all modifications, amendments, supplements, restatements, or other agreements made directly or indirectly by any agreement, instrument, or other document that in any manner affects such executory contract or unexpired lease,
without regard to whether such agreement, instrument, or other document is listed in the notice of assumed contracts. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.9.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Reservation of Rights.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Neither the exclusion nor inclusion of any contract or lease by the Debtors on any exhibit, schedule, or other annex
to the Plan or in the Plan Supplement, nor anything contained in the Plan, shall constitute an admission by the Debtors that any such contract or lease is or is not in fact an executory contract or unexpired lease or that the Debtors or the
Reorganized Debtors or their respective affiliates have any liability thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided
in the Plan, nothing in the Plan shall waive, excuse, limit, diminish, or otherwise alter any of the defenses, Claims, Causes of Action, or other rights of the Debtors and the Reorganized Debtors under any executory or
<FONT STYLE="white-space:nowrap">non-executory</FONT> contract or any unexpired or expired lease. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;Nothing in
the Plan shall increase, augment, or add to any of the duties, obligations, responsibilities, or liabilities of the Debtors or the Reorganized Debtors under any executory or <FONT STYLE="white-space:nowrap">non-executory</FONT> contract or any
unexpired or expired lease. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE IX&nbsp;&nbsp;&nbsp;&nbsp;CONDITIONS PRECEDENT TO CONFIRMATION OF PLAN AND EFFECTIVE DATE. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9.1.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Conditions Precedent to Confirmation of Plan.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The following are conditions precedent to confirmation of the Plan: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;the Disclosure Statement shall have been in form and substance reasonably satisfactory to the Debtors, the
Requisite Consenting Noteholders, and the Requisite Consenting Tidewater Lenders, and an order finding that the Disclosure Statement contains adequate information pursuant to section 1125 of the Bankruptcy Code shall have been entered by the
Bankruptcy Court, which shall, in form and substance, be reasonably satisfactory to the Debtors, the Requisite Consenting Tidewater Lenders and the Requisite Consenting Noteholders; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;the Plan and the Plan Supplement and all of the schedules, documents,
and exhibits contained therein shall have been filed, and shall be in form and substance reasonably acceptable to the Debtors, the Requisite Consenting Noteholders, and the Requisite Consenting Tidewater Lenders; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;the Restructuring Support Agreement shall not have been terminated and shall be in full force and effect; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;the entry of the Rejection Orders; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;the Bankruptcy Court shall have entered the Confirmation Order in form and substance reasonably satisfactory to the
Debtors, the Requisite Consenting Tidewater Lenders and the Requisite Consenting Noteholders. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9.2.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Conditions Precedent to Effective Date.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The following are conditions precedent to the Effective Date of the Plan: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;the Bankruptcy Court shall have entered the Confirmation Order and such order shall not have been stayed, modified,
vacated, or reversed on appeal; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;the New Indenture shall have been executed and delivered by all of the
Entities that are parties thereto, and all conditions precedent to the consummation of the New Indenture shall have been waived or satisfied in accordance with the terms thereof and the closing of the New Indenture shall have occurred; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;the Definitive Documents shall contain terms and conditions consistent in all material respects with this Plan and
the Restructuring Support Agreement and shall otherwise be reasonably satisfactory in all respects to the Debtors, the Requisite Consenting Noteholders, and the Requisite Consenting Tidewater Lenders; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;all actions, documents and agreements necessary to implement and consummate the Plan, including without limitation,
entry into the Definitive Documents and the Amended Organizational Documents, and the transactions and other matters contemplated thereby, shall have been effected or executed; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;subject to Section&nbsp;12.6 of the Plan, any amendments, modifications or supplements to the Plan (including the
Plan Supplement), if any, shall be reasonably acceptable to the Debtors, the Requisite Consenting Noteholders, and the Requisite Consenting Tidewater Lenders; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;the Amended Organizational Documents shall have been filed with the appropriate governmental authority, as
applicable; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;all governmental, regulatory, and third-party approvals and consents, including Bankruptcy Court
approval, necessary in connection with the transactions contemplated by the Plan shall have been obtained, not be subject to unfulfilled conditions, and be in full force and effect, and all applicable waiting periods shall have expired without any
action being taken or threatened by any competent authority that would restrain, prevent, or otherwise impose materially adverse conditions on such transactions; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;the Troms Credit Agreement shall be in effect and unamended; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;the Restructuring Support Agreement shall not have been terminated and shall be in full force and effect; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j)&nbsp;&nbsp;&nbsp;&nbsp;Tidewater Marine International Inc. shall have caused $500,000,000 in Cash to be repatriated to Tidewater Parent;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k)&nbsp;&nbsp;&nbsp;&nbsp;Tidewater Parent shall deliver the Certificate, dated as of the Effective Date, to the New Indenture Trustee;
and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l)&nbsp;&nbsp;&nbsp;&nbsp;all conditions precedent listed in clauses (a)-(k) of this Section&nbsp;9.2 shall have occurred on or
prior to the date that is thirty (30)&nbsp;calendar days after the Confirmation Date. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9.3.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Waiver of
Conditions Precedent.</I></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided herein, all actions required to be taken on the
Effective Date shall take place and shall be deemed to have occurred simultaneously and no such action shall be deemed to have occurred prior to the taking of any other such action. Each of the conditions precedent in Section&nbsp;9.1 and
Section&nbsp;9.2 of the Plan may be waived in writing by the Debtors with the prior written consent of the Requisite Consenting Tidewater Lenders and the Requisite Consenting Noteholders, such consent not to be unreasonably withheld, without leave
of or order of the Bankruptcy Court. Subject to the consent of both the Requisite Consenting Tidewater Lenders and the Requisite Consenting Noteholders, such consent not to be unreasonably withheld, if the Plan is confirmed for fewer than all of the
Debtors as provided for in Section&nbsp;5.16 of the Plan, only the conditions applicable to the Debtor or Debtors for which the Plan is confirmed must be satisfied or waived for the Effective Date to occur. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;The stay of the Confirmation Order pursuant to Bankruptcy Rule 3020(e) shall be deemed waived by and upon the entry
of the Confirmation Order, and the Confirmation Order shall take effect immediately upon its entry. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9.4.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Effect of Failure of a Condition.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the conditions listed in Section&nbsp;9.2 of the Plan are not satisfied or waived in accordance with Section&nbsp;9.3 of the Plan on or
before the first Business Day that is more than thirty (30)&nbsp;days after the date on which the Confirmation Order is entered or by such later date as set forth by the Debtors, with the consent of the Requisite Consenting Noteholders and the
Requisite Consenting Tidewater Lenders, such consent not to be unreasonably withheld, in a notice filed with the Bankruptcy Court prior to the expiration of such period, the Plan shall be null and void in all respects and nothing contained in the
Plan or the Disclosure Statement shall (a)&nbsp;constitute a waiver or release of any Claims by or against or any Interests in the Debtors, (b)&nbsp;prejudice in any manner the rights of any Entity, or (c)&nbsp;constitute an admission,
acknowledgement, offer, or undertaking by the Debtors, any of the Consenting Creditors, or any other Entity. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE
X&nbsp;&nbsp;&nbsp;&nbsp;EFFECT OF CONFIRMATION OF PLAN</B><B><I>.</I></B><B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.1.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Vesting of
Assets.</I></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On the Effective Date, pursuant to sections 1141(b) and (c)&nbsp;of the Bankruptcy Code, all property of the Debtors&#146;
Estates shall vest in the Reorganized Debtors free and clear of all Claims, Liens, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>


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encumbrances, charges, and other interests, except as provided pursuant to the Plan, the Confirmation Order, or the New Indenture and documents securing the obligations under the New Indenture.
On and after the Effective Date, the Reorganized Debtors may take any action, including, without limitation, the operation of their businesses; the use, acquisition, sale, lease, and disposition of property; and the entry into transactions,
agreements, understandings, or arrangements, whether in or other than in the ordinary course of business, and execute, deliver, implement, and fully perform any and all obligations, instruments, documents, and papers or otherwise in connection with
any of the foregoing, free of any restrictions of the Bankruptcy Code or Bankruptcy Rules and in all respects as if there were no pending cases under any chapter or provision of the Bankruptcy Code, except as expressly provided herein. Without
limiting the foregoing, the Reorganized Debtors may pay the charges that they incur on or after the Effective Date for professional fees, disbursements, expenses, or related support services without application to the Bankruptcy Court. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.2.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Binding Effect.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">As of the Effective Date, the Plan shall bind all holders of Claims against and Interests in the Debtors and their respective successors and
assigns, notwithstanding whether any such holders (a)&nbsp;were Impaired or Unimpaired under the Plan, (b)&nbsp;were deemed to accept or reject the Plan, (c)&nbsp;failed to vote to accept or reject the Plan, (d)&nbsp;voted to reject the Plan, or
(e)&nbsp;received any distribution or not under the Plan. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.3.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Discharge of Claims and Termination of
Interests.</I></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Upon the Effective Date and in consideration of the distributions to be made hereunder, except as otherwise expressly
provided herein, each holder (as well as any representatives, trustees, or agents on behalf of each holder) of a Claim or Interest and any affiliate of such holder shall be deemed to have forever waived, released, and discharged the Debtors, to the
fullest extent permitted by section 1141 of the Bankruptcy Code, of and from any and all Claims, Interests, rights, and liabilities that arose prior to the Effective Date. Upon the Effective Date, all such Entities shall be forever precluded and
enjoined, pursuant to section 524 of the Bankruptcy Code, from prosecuting or asserting any such discharged Claim against or terminated Interest in the Debtors against the Debtors, the Reorganized Debtors, or any of its or their assets or property,
whether or not such holder has filed a proof of claim and whether or not the facts or legal bases therefor were known or existed prior to the Effective Date. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.4.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Term of Injunctions or Stays.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Unless otherwise provided herein or in a Final Order of the Bankruptcy Court, all injunctions or stays arising under or entered during the
Chapter 11 Cases under section 105 or 362 of the Bankruptcy Code, or otherwise, and in existence on the Confirmation Date, shall remain in full force and effect until the later of the Effective Date and the date indicated in the order providing for
such injunction or stay. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.5.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Injunction.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<B>Upon entry of the Confirmation Order, all holders of Claims and Interests and other parties in interest, along
with their respective present or former employees, agents, officers, directors, principals, and affiliates, shall be enjoined from taking any actions to interfere with the implementation or consummation of the Plan and the Definitive Documents.</B>
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<B>Except as expressly provided in the Plan, the Confirmation Order, or a separate order of the Bankruptcy
Court or as agreed to by the Debtors and a holder of a Claim</B> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


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<B>against or Interest in the Debtors, all Entities who have held, hold, or may hold Claims against or Interests in any or all of the Debtors (whether proof of such Claims or Interests has been
filed or not and whether or not such Entities vote in favor of, against, or abstain from voting on the Plan or are presumed to have accepted or deemed to have rejected the Plan) and other parties in interest, along with their respective present or
former employees, agents, officers, directors, principals, and affiliates are permanently enjoined, on and after the Effective Date, solely with respect to any Claims, Interests, and Causes of Action that will be or are extinguished, discharged, or
released pursuant to the Plan from (i)&nbsp;commencing, conducting, or continuing in any manner, directly or indirectly, any suit, action, or other proceeding of any kind (including, without limitation, any proceeding in a judicial, arbitral,
administrative, or other forum) against or affecting the Released Parties or the property of any of the Released Parties, (ii)&nbsp;enforcing, levying, attaching (including, without limitation, any prejudgment attachment), collecting, or otherwise
recovering by any manner or means, whether directly or indirectly, any judgment, award, decree, or order against the Released Parties or the property of any of the Released Parties, (iii)&nbsp;creating, perfecting, or otherwise enforcing in any
manner, directly or indirectly, any encumbrance of any kind against the Released Parties or the property of any of the Released Parties, (iv)&nbsp;asserting any right of setoff, directly or indirectly, against any obligation due the Released Parties
or the property of any of the Released Parties, except as contemplated or allowed by the Plan, and (v)&nbsp;acting or proceeding in any manner, in any place whatsoever, that does not conform to or comply with the provisions of the Plan and the
Definitive Documents.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<B>By accepting distributions pursuant to the Plan, each holder of an Allowed Claim
or Interest shall be deemed to have affirmatively and specifically consented to be bound by the Plan, including, without limitation, the injunctions set forth in this Section</B><B></B><B>&nbsp;10.5.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;<B>The injunctions in this Section</B><B></B><B>&nbsp;10.5 shall extend to any successors of the Debtors and the
Reorganized Debtors and their respective property and interests in property.</B> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.6.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Releases.</I></B>
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Releases by Debtors</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>As of the Effective Date, except (i)&nbsp;for the right to enforce the Plan or any right or obligation arising under the Definitive
Documents that remain in effect or become effective after the Effective Date, or (ii)&nbsp;as otherwise expressly provided in the Plan or in the Confirmation Order, in exchange for good and valuable consideration, including the obligations of the
Debtors under the Plan and the Definitive Documents and the contributions of the Released Parties to facilitate and implement the Plan and the Definitive Documents to the fullest extent permissible under applicable law, on and after the Effective
Date, the Released Parties shall be deemed conclusively, absolutely, unconditionally, irrevocably, and forever released and discharged by the Debtors, the Reorganized Debtors, and the Estates from any and all Claims and Causes of Action, including
any derivative claims, asserted or assertable on behalf of the Debtors, whether liquidated or unliquidated, fixed or contingent, matured or unmatured, known or unknown, foreseen or unforeseen, existing or hereinafter arising, in law, equity, or
otherwise, that the Debtors, the Reorganized Debtors, the Estates, or their affiliates would have been legally entitled to assert in their own right (whether individually or collectively) or on behalf of the holder of any Claim or Interest or other
Entity, based on or relating to, or in any manner arising from, in whole or in part, the Debtors, the Chapter 11 Cases, the purchase, sale, or rescission of the purchase or sale of any security of the Debtors or the Reorganized Debtors, the subject
matter of, or the transactions or events giving rise to, any Claim or Interest that is treated in the Plan, the business or contractual arrangements between any Debtor and any Released Party, the restructuring of Claims and Interests before or
</B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>


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during the Chapter 11 Cases, the negotiation, formulation, preparation, proposal, confirmation, or consummation of the Plan (including the Plan Supplement), the Restructuring Support Agreement,
the Definitive Documents, or related agreements, instruments, or other documents, or the solicitation of votes with respect to the Plan, in all cases based upon any act or omission, transaction, agreement, event, or other occurrence taking place on
or before the Effective Date; </B><B><I>provided</I></B><B>,</B><B><I> that</I></B><B> nothing in this Section&nbsp;10.6(a) shall be construed to release any Released Party or Entity from any claims or Causes of Action arising out of or related to
any act or omission that is a criminal act or constitutes gross negligence, willful misconduct, or intentional fraud as determined by Final Order. </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Releases by </U></B><B><U>Holders of Claims or Interests</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>As of the Effective Date, except (i)&nbsp;for the right to enforce the Plan or any right or obligation arising under the Definitive
Documents that remain in effect or become effective after the Effective Date, or (ii)&nbsp;as otherwise expressly provided in the Plan or in the Confirmation Order, in exchange for good and valuable consideration, including the obligations of the
Debtors under the Plan and the Definitive Documents and the contributions of the Released Parties to facilitate and implement the Plan and the Definitive Documents, to the fullest extent permissible under applicable law, as such law may be extended
or integrated after the Effective Date, the Released Parties shall be deemed conclusively, absolutely, unconditionally, irrevocably, and forever released and discharged by: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>(1)&nbsp;the holders of Impaired Claims or Interests except those (A)&nbsp;deemed to reject the Plan or (B)&nbsp;who are entitled to vote
on the Plan and vote to reject, or abstain from voting on, the Plan <U>and</U> also check the box on the applicable ballot indicating that they opt out of granting the releases provided in the Plan; </B><B><I>provided</I></B><B>,</B><B><I>
</I></B><B>that the Consenting Creditors may not opt out of granting the releases provided in the Plan in accordance with and subject to the terms and conditions of the Restructuring Support Agreement; </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>(2)&nbsp;the holders of Unimpaired Claims or Interests who do not timely object to the releases provided in the Plan; and </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>(3)&nbsp;with respect to any Entity in the foregoing clauses (1)&nbsp;and (2), except to the extent deemed to reject the Plan, such
Entity&#146;s predecessors, successors and assigns, subsidiaries, affiliates, managed accounts or funds, current or former officers, directors, principals, shareholders, members, partners, employees, agents, advisory board members, financial
advisors, attorneys, accountants, investment bankers, consultants, representatives, management companies, fund advisors and other professionals, and such Entity&#146;s respective heirs, executors, estates, servants, and nominees; </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>in each case, from any and all Claims, interests or Causes of Action whatsoever, including any derivative Claims asserted on behalf of a Debtor, whether
liquidated or unliquidated, fixed or contingent, matured or unmatured, known or unknown, foreseen or unforeseen, existing or hereafter arising, in law, equity, or otherwise, that such Entity would have been legally entitled to assert (whether
individually or collectively), based on, relating to, or arising from, in whole or in part, the Debtors, the Debtors&#146; restructuring, the Chapter 11 Cases, the purchase, sale, or rescission of the purchase or sale of any security of the Debtors
or the Reorganized Debtors, the subject matter of, or the transactions or events giving rise to, any Claim or Interest that is treated in the Plan, the business or contractual arrangements between any Debtor and any Released Party, the restructuring
of Claims and Interests before or during the Chapter 11 Cases, the negotiation, formulation, preparation, proposal, confirmation, or consummation of the Plan (including the Plan </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">45 </P>


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Supplement), the Restructuring Support Agreement, the Definitive Documents, or any related agreements, instruments, or other documents, the solicitation of votes with respect to the Plan, in all
cases based upon any act or omission, transaction, agreement, event or other occurrence taking place on or before the Effective Date; </B><B><I>provided</I></B><B>,</B><B><I> that</I></B><B> nothing in this Section&nbsp;10.6(b) shall be construed to
release any Released Party or Entity from any claims or Causes of Action arising out of or related to any act or omission that is a criminal act or constitutes gross negligence, willful misconduct, or intentional fraud as determined by Final Order.
</B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.7.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Exculpation.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>Notwithstanding anything herein to the contrary, and to the maximum extent permitted by applicable law, the Exculpated Parties shall neither
have nor incur any liability to any holder of a Claim or Interest or any other party in interest, or any of their respective predecessors, successors, and assigns, subsidiaries, affiliates, managed accounts, or funds, current or former officers,
directors, principals, shareholders, members, partners, employees, agents, advisory board members, financial advisors, attorneys, accountants, investment bankers, consultants, representatives, management companies, fund advisors, and other
professionals, and such Entity&#146;s respective heirs, executors, estates, servants, or nominees for any act or omission (both prior to and subsequent to the Petition Date) in connection with, related to, or arising out of, in whole or in part, the
Debtors, the Debtors&#146; restructuring, the Chapter 11 Cases, the purchase, sale, or rescission of the purchase or sale of any security of the Debtors or the Reorganized Debtors, the business or contractual arrangements between any Debtor and any
Released Party relating to the Chapter 11 Cases, the Plan, or the Disclosure Statement, the restructuring of Claims and Interests before or during the Chapter 11 Cases, the negotiation, formulation, preparation, proposal, confirmation, or
consummation of the Plan (including the Plan Supplement), the Restructuring Support Agreement, the Definitive Documents, or any related agreements, instruments, or other documents, the solicitation of votes with respect to the Plan, any settlement
or agreement in the Chapter 11 Cases, the offer, issuance, and distribution of any securities issued or to be issued pursuant to the Plan, whether or not such distribution occurs following the Effective Date, negotiations regarding or concerning any
of the foregoing, or the administration of the Plan or property to be distributed hereunder, except for any act or omission that is a criminal act or constitutes gross negligence, willful misconduct, or intentional fraud as determined by Final
Order. This exculpation shall be in addition to, and not in limitation of, all other releases, indemnities, exculpations, and any other applicable law or rules protecting such Exculpated Parties from liability. </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.8.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Subordinated Claims.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The allowance, classification, and treatment of all Allowed Claims and Interests and the respective distributions and treatments under the Plan
take into account and conform to the relative priority and rights of the Claims and Interests in each Class&nbsp;in connection with any contractual, legal, and equitable subordination rights relating thereto, whether arising under general principles
of equitable subordination, section 510(b) of the Bankruptcy Code, or otherwise. Pursuant to section 510 of the Bankruptcy Code, the Debtors reserve the right to <FONT STYLE="white-space:nowrap">re-classify</FONT> any Allowed Claim or Interest in
accordance with any contractual, legal, or equitable subordination relating thereto. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.9.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Retention of
Causes of Action/Reservation of Rights.</I></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise provided herein, including in Sections 10.5, 10.6, and 10.7 of the
Plan, nothing contained in the Plan or the Confirmation Order shall be deemed to be a waiver or relinquishment of any rights, claims, Causes of Action, rights of setoff or recoupment, or other legal or equitable defenses that the Debtors had
immediately prior to the Effective Date on behalf of the Estates or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">46 </P>


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of themselves in accordance with any provision of the Bankruptcy Code or any applicable nonbankruptcy law or any affirmative Causes of Action against parties with a relationship with the Debtors.
The Reorganized Debtors shall have, retain, reserve, and be entitled to assert all such claims, Causes of Action, rights of setoff or recoupment, and other legal or equitable defenses as fully as if the Chapter 11 Cases had not been commenced, and
all of the Debtors&#146; legal and equitable rights in respect of any Unimpaired Claim may be asserted after the Confirmation Date and Effective Date to the same extent as if the Chapter 11 Cases had not been commenced; <I>provided</I>,
<I>however</I>, that notwithstanding the foregoing, the Debtors and the Reorganized Debtors shall not retain any claims or Causes of Action released pursuant to Sections 10.5, 10.6, and 10.7 of the Plan against the Released Parties or arising under
chapter 5 of the Bankruptcy Code (except that such claims or Causes of Action may be asserted as a defense to a claim in connection with the claims reconciliation and objection procedures pursuant to section 502(d) of the Bankruptcy Code or
otherwise). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.10.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Solicitation of Plan.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">As of and subject to the occurrence of the Confirmation Date: (a)&nbsp;the Debtors shall be deemed to have solicited acceptances of the Plan in
good faith and in compliance with the applicable provisions of the Bankruptcy Code, including without limitation, sections 1125(a) and (e)&nbsp;of the Bankruptcy Code, and any applicable <FONT STYLE="white-space:nowrap">non-bankruptcy</FONT> law,
rule, or regulation governing the adequacy of disclosure in connection with such solicitation, and (b)&nbsp;the Debtors and each of their respective directors, officers, employees, affiliates, agents, financial advisors, investment bankers,
professionals, accountants, and attorneys shall be deemed to have participated in good faith and in compliance with the applicable provisions of the Bankruptcy Code in the offer and issuance of any securities under the Plan, and therefore are not,
and on account of such offer, issuance, and solicitation shall not be, liable at any time for any violation of any applicable law, rule, or regulation governing the solicitation of acceptances or rejections of the Plan or the offer and issuance of
any securities under the Plan. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.11.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Corporate and Limited Liability Company Action.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Upon the Effective Date, all actions contemplated by the Plan shall be deemed authorized and approved in all respects, including (a)&nbsp;those
set forth in Section&nbsp;5.12 of the Plan, (b)&nbsp;the selection of the managers, directors, and officers for the Reorganized Debtors, (c)&nbsp;the distribution or issuance of the New Common Stock and the New Warrants, (d)&nbsp;the issuance of the
New Secured Notes and entry into the New Indenture, (e)&nbsp;the entry into the New Creditor Warrant Agreement, (f)&nbsp;the entry into the New Existing Equity Warrant Agreement, (g)&nbsp;the approval of the Restructuring Support Agreement, and
(h)&nbsp;all other actions contemplated by the Plan (whether to occur before, on, or after the Effective Date), in each case, in accordance with and subject to the terms hereof. All matters provided for in the Plan involving the corporate or limited
liability company structure of the Debtors or the Reorganized Debtors, and any corporate or limited liability company action required by the Debtors or the Reorganized Debtors in connection with the Plan shall be deemed to have occurred and shall be
in effect, without any requirement of further action by the security holders, directors, managers, or officers of the Debtors or the Reorganized Debtors. On or (as applicable) before the Effective Date, the appropriate officers of the Debtors or the
Reorganized Debtors, as applicable, shall be authorized and directed to issue, execute, and deliver the agreements, documents, securities, and instruments, certificates of merger, certificates of conversion, certificates of incorporation, or
comparable documents, or franchise tax reports contemplated by the Plan (or necessary or desirable to effect the transactions contemplated by the Plan) in the name of and on behalf of the Reorganized Debtors, including, but not limited to,
(i)&nbsp;the Amended Organizational Documents, (ii)&nbsp;the New Indenture, (iii)&nbsp;the New Creditor Warrant Agreement, (iv)&nbsp;the New Existing Equity Warrant Agreement, and (v)&nbsp;any and all other agreements, documents, securities, and
instruments relating to the foregoing. The authorizations and approvals contemplated by this Section&nbsp;10.11 shall be effective notwithstanding any requirements under <FONT STYLE="white-space:nowrap">non-bankruptcy</FONT> law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">47 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE XI&nbsp;&nbsp;&nbsp;&nbsp;RETENTION OF JURISDICTION. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11.1.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Retention of Jurisdiction.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On and after the Effective Date, the Bankruptcy Court shall retain jurisdiction over all matters arising in, arising under, and related to the
Chapter 11 Cases for, among other things, the following purposes: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;to hear and determine motions and/or
applications for the assumption or rejection of executory contracts or unexpired leases, including Assumption Disputes, and the allowance, classification, priority, compromise, estimation, or payment of Claims resulting therefrom; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;to determine any motion, adversary proceeding, application, contested matter, and other litigated matter pending on
or commenced after the Confirmation Date; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;to ensure that distributions to holders of Allowed Claims are
accomplished as provided for in the Plan and Confirmation Order and to adjudicate any and all disputes arising from or relating to distributions under the Plan, including but not limited to, cases, controversies, suits, disputes, or Causes of Action
with respect to the repayment or return of distributions and the recovery of additional amounts owed by the holder of a Claim or Interest for amounts not timely paid; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;to hear and determine all disputes arising from or related to any determination by Tidewater Parent in its
reasonable discretion with respect to the acceptance, <FONT STYLE="white-space:nowrap">non-acceptance</FONT> or rejection of any U.S. Citizen Certification as reasonable proof in establishing that any holder (or its Permitted Designee(s)) of an
Allowed Class&nbsp;3 Claim is a U.S. Citizen under the Jones Act; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;to consider the allowance, classification,
priority, compromise, estimation, or payment of any Claim; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;to enter, implement, or enforce such orders as may
be appropriate in the event the Confirmation Order is for any reason stayed, reversed, revoked, modified, or vacated; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;to issue injunctions, enter and implement other orders, and take such other actions as may be necessary or
appropriate to restrain interference by any Entity with the consummation, implementation, or enforcement of the Plan, the Confirmation Order, or any other order of the Bankruptcy Court; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;to hear and determine any application to modify the Plan in accordance with section 1127 of the Bankruptcy Code, to
remedy any defect or omission or reconcile any inconsistency in the Plan, or any order of the Bankruptcy Court, including the Confirmation Order, in such a manner as may be necessary to carry out the purposes and effects thereof; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;to hear and determine all Fee Claims; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j)&nbsp;&nbsp;&nbsp;&nbsp;to adjudicate, decide, or resolve any and all matters related to section 1141 of the Bankruptcy Code; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k)&nbsp;&nbsp;&nbsp;&nbsp;to hear and determine disputes arising in connection with the interpretation, implementation, or enforcement of the
Plan, the Plan Supplement, or the Confirmation Order, or any agreement, instrument, or other document governing or relating to any of the foregoing; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">48 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l)&nbsp;&nbsp;&nbsp;&nbsp;to take any action and issue such orders as may be necessary to
construe, interpret, enforce, implement, execute, and consummate the Plan; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m)&nbsp;&nbsp;&nbsp;&nbsp;to determine such other matters and
for such other purposes as may be provided in the Confirmation Order; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n)&nbsp;&nbsp;&nbsp;&nbsp;to hear and determine matters concerning
state, local, and federal taxes in accordance with sections 346, 505, and 1146 of the Bankruptcy Code (including any requests for expedited determinations under section 505(b) of the Bankruptcy Code); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o)&nbsp;&nbsp;&nbsp;&nbsp;to hear, adjudicate, decide, or resolve any and all matters related to Article X of the Plan, including, without
limitation, the releases, discharge, exculpations, and injunctions issued thereunder; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p)&nbsp;&nbsp;&nbsp;&nbsp;to resolve disputes
concerning Disputed Claims or the administration thereof; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q)&nbsp;&nbsp;&nbsp;&nbsp;to hear and determine any other matters related
hereto and not inconsistent with the Bankruptcy Code and title 28 of the United States Code; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(r)&nbsp;&nbsp;&nbsp;&nbsp;to enter a final
decree closing the Chapter 11 Cases; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(s)&nbsp;&nbsp;&nbsp;&nbsp;to adjudicate any and all disputes arising from or relating to
distributions under the Plan; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(t)&nbsp;&nbsp;&nbsp;&nbsp;to resolve disputes as to the ownership of any Claim or Interest; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(u)&nbsp;&nbsp;&nbsp;&nbsp;to recover all assets of the Debtors and property of the Debtors&#146; Estates, wherever located; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v)&nbsp;&nbsp;&nbsp;&nbsp;to resolve any disputes concerning whether an Entity had sufficient notice of the Chapter 11 Cases, the Disclosure
Statement, any solicitation conducted in connection with the Chapter 11 Cases, any bar date established in the Chapter 11 Cases, or any deadline for responding or objecting to the amount of a Cure, in each case, for the purpose of determining
whether a Claim or Interest is discharged hereunder or for any other purpose; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(w)&nbsp;&nbsp;&nbsp;&nbsp;to hear and determine any
rights, Claims, or Causes of Action held by or accruing to the Debtors pursuant to the Bankruptcy Code or pursuant to any federal statute or legal theory; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(x)&nbsp;&nbsp;&nbsp;&nbsp;to hear and resolve any dispute over the application to any Claim of any limit on the allowance of such Claim set
forth in sections 502 or 503 of the Bankruptcy Code, other than defenses or limits that are asserted under <FONT STYLE="white-space:nowrap">non-bankruptcy</FONT> law pursuant to section 502(b)(1) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the avoidance of doubt, the Bankruptcy Court shall not retain jurisdiction with respect to the following documents entered into by a Reorganized Debtor on
or after the Effective Date: (i)&nbsp;the New Indenture, (ii)&nbsp;the New Creditor Warrant Agreements, (iii)&nbsp;the New Existing Equity Warrant Agreement and (iv)&nbsp;the Registration Rights Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">49 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11.2.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Courts of Competent Jurisdiction.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Bankruptcy Court abstains from exercising, or declines to exercise, jurisdiction or is otherwise without jurisdiction over any matter
arising out of the Plan, such abstention, refusal, or failure of jurisdiction shall have no effect upon and shall not control, prohibit, or limit the exercise of jurisdiction by any other court having competent jurisdiction with respect to such
matter. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE XII&nbsp;&nbsp;&nbsp;&nbsp;MISCELLANEOUS PROVISIONS. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.1.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Payment of Statutory Fees.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On the Effective Date and thereafter as may be required, the Reorganized Debtors shall pay all fees due and payable pursuant to section 1930(a)
of title 28 of the United States Code for each Debtor&#146;s case, or until such time as a final decree is entered closing a particular Debtor&#146;s case, a Final Order converting such Debtor&#146;s case to a case under chapter 7 of the Bankruptcy
Code is entered, or a Final Order dismissing such Debtor&#146;s case is entered. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.2.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Substantial
Consummation of the Plan.</I></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On the Effective Date, the Plan shall be deemed to be substantially consummated under sections 1101 and
1127(b) of the Bankruptcy Code. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.3.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Plan Supplement.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Plan Supplement shall be filed with the Bankruptcy Court not later than seven (7)&nbsp;calendar days prior to the Voting Deadline.
Documents included in the Plan Supplement shall be posted at the website of the Debtors&#146; notice, claims, and solicitation agent. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.4.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Request for Expedited Determination of Taxes.</I></B><B><I> </I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Debtors shall have the right to request an expedited determination under section 505(b) of the Bankruptcy Code with respect to tax returns
filed, or to be filed, for any and all taxable periods ending after the Petition Date through the Effective Date. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.5.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Exemption from Certain Transfer Taxes.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Pursuant to section 1146 of the Bankruptcy Code, (a)&nbsp;the issuance, transfer or exchange of any securities, instruments or documents,
(b)&nbsp;the creation of any Lien, mortgage, deed of trust, or other security interest, (c)&nbsp;the making or assignment of any lease or sublease or the making or delivery of any deed or other instrument of transfer under, pursuant to, in
furtherance of, or in connection with the Plan, including, without limitation, any deeds, bills of sale, or assignments executed in connection with any of the transactions contemplated under the Plan or the revesting, transfer, or sale of any real
or personal property of the Debtors pursuant to, in implementation of or as contemplated in the Plan (whether to one or more of the Reorganized Debtors or otherwise), (d)&nbsp;the grant of collateral under the New Indenture, and (e)&nbsp;the
issuance, renewal, modification, or securing of indebtedness by such means, and the making, delivery or recording of any deed or other instrument of transfer under, in furtherance of, or in connection with, the Plan, including, without limitation,
the Confirmation Order, shall not be subject to any document recording tax, stamp tax, conveyance fee, or other similar tax, mortgage tax, real estate transfer tax, mortgage recording tax, Uniform Commercial Code filing or recording fee, regulatory
filing or recording fee, sales tax, use tax, or other similar tax or governmental assessment. Consistent with the foregoing, each recorder of deeds or similar official for any county, city, or governmental unit in which
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">50 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
any instrument hereunder is to be recorded shall, pursuant to the Confirmation Order, accept such instrument without requiring the payment of any filing fees, documentary stamp tax, deed stamps,
stamp tax, transfer tax, intangible tax, or similar tax. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.6.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Amendments.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Plan Modifications</I>. Subject to the terms of the Restructuring Support Agreement, (i)&nbsp;the Debtors reserve
the right, in accordance with the Bankruptcy Code and the Bankruptcy Rules, to amend or modify the Plan prior to the entry of the Confirmation Order, including amendments or modifications to satisfy section 1129(b) of the Bankruptcy Code, and
(ii)&nbsp;after entry of the Confirmation Order, the Debtors may, upon order of the Bankruptcy Court, amend, modify, or supplement the Plan in the manner provided for by section 1127 of the Bankruptcy Code or as otherwise permitted by law, in each
case without additional disclosure pursuant to section 1125 of the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Other Amendments</I>.
Subject to the Restructuring Support Agreement, before the Effective Date, the Debtors may make appropriate technical adjustments and modifications to the Plan and the documents contained in the Plan Supplement to cure any <FONT
STYLE="white-space:nowrap">non-substantive</FONT> ambiguity, defect (including any technical defect), or inconsistency without further order or approval of the Bankruptcy Court. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.7.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Effectuating Documents and Further Transactions.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each of the officers of the Reorganized Debtors is authorized, in accordance with his or her authority under the resolutions of the applicable
board of directors or managers (on terms materially consistent with the Plan), to execute, deliver, file, or record such contracts, instruments, releases, indentures, and other agreements or documents and take such actions as may be necessary or
appropriate to effectuate and further evidence the terms and conditions of the Plan, which shall be in form and substance reasonably satisfactory to the Debtors, the Requisite Consenting Noteholders, and the Requisite Consenting Tidewater Lenders.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.8.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Revocation or Withdrawal of Plan.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to the terms of the Restructuring Support Agreement, the Debtors reserve the right to revoke or withdraw the Plan prior to the
Effective Date as to any or all of the Debtors; <I>provided</I>,<I> however</I>, that the Debtors may revoke or withdraw the Plan without such consent in the exercise of the Debtors&#146; fiduciary duty to the extent permitted under the
Restructuring Support Agreement. If, with respect to a Debtor, the Plan has been revoked or withdrawn prior to the Effective Date, or if confirmation or the occurrence of the Effective Date as to such Debtor does not occur on the Effective Date,
then, with respect to such Debtor: (a)&nbsp;the Plan shall be null and void in all respects; (b)&nbsp;any settlement or compromise embodied in the Plan (including the fixing of or limiting to an amount of any Claim or Interest or Class&nbsp;of
Claims or Interests), assumption of executory contracts or unexpired leases affected by the Plan, and any document or agreement executed pursuant to the Plan shall be deemed null and void; and (c)&nbsp;nothing contained in the Plan shall
(i)&nbsp;constitute a waiver or release of any Claim by or against, or any Interest in, such Debtor or any other Entity, (ii)&nbsp;prejudice in any manner the rights of such Debtor or any other Entity, or (iii)&nbsp;constitute an admission of any
sort by any Debtor, any of the Consenting Creditors, or any other Entity. This provision shall not modify or otherwise alter the rights of the Consenting Creditors or the Debtors, as set forth in the Restructuring Support Agreement, in respect of
any such revocation or withdrawal. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">51 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.9.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Severability of Plan Provisions.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If, before the entry of the Confirmation Order, any term or provision of the Plan is held by the Bankruptcy Court to be invalid, void, or
unenforceable, the Bankruptcy Court, at the request of the Debtors (to be made only with the consent of the Tidewater Lender and Noteholder Group, such consent not to be unreasonably withheld), shall have the power to alter and interpret such term
or provision to make it valid or enforceable to the maximum extent practicable, consistent with the original purpose of the term or provision held to be invalid, void, or unenforceable, and such term or provision shall then be applicable as altered
or interpreted; <I>provided that </I>any such alteration or interpretation shall be acceptable to the Debtors, the Requisite Consenting Tidewater Lenders, and the Requisite Consenting Noteholders. Notwithstanding any such holding, alteration, or
interpretation, the remainder of the terms and provisions of the Plan shall remain in full force and effect and shall in no way be affected, impaired or invalidated by such holding, alteration, or interpretation. The Confirmation Order shall
constitute a judicial determination and shall provide that each term and provision of the Plan, as it may have been altered or interpreted in accordance with the foregoing, is (a)&nbsp;valid and enforceable pursuant to its terms, (b)&nbsp;integral
to the Plan and may not be deleted or modified without the consent of (x)&nbsp;the Debtors or the Reorganized Debtors (as the case may be), and (y)&nbsp;the Requisite Consenting Tidewater Lenders and the Requisite Consenting Noteholders;
<I>provided</I>, that if such deletion or modification adversely affects the recovery or treatment of any of the Consenting Sale Leaseback Parties, if any, then such deletion or modification may not be made without the written consent of such
Consenting Sale Leaseback Party, and (c)&nbsp;nonseverable and mutually dependent. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.10.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Governing
Law.</I></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except to the extent that the Bankruptcy Code or other federal law is applicable, or to the extent an exhibit hereto or a
schedule in the Plan Supplement or a Definitive Document provides otherwise, the rights, duties, and obligations arising under the Plan shall be governed by, and construed and enforced in accordance with, the laws of the State of New York, without
giving effect to the principles of conflict of laws thereof. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.11.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Time.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In computing any period of time prescribed or allowed by the Plan, unless otherwise set forth herein or determined by the Bankruptcy Court, the
provisions of Bankruptcy Rule 9006 shall apply. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.12.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Dates of Actions to Implement the Plan.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the event that any payment or act under the Plan is required to be made or performed on a date that is on a Business Day, then the making of
such payment or the performance of such act may be completed on or as soon as reasonably practicable after the next succeeding Business Day, but shall be deemed to have been completed as of the required date. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.13.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Immediate Binding Effect.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding Bankruptcy Rules 3020(e), 6004(h), 7062, or otherwise, upon the occurrence of the Effective Date, the terms of the Plan and
Plan Supplement shall be immediately effective and enforceable and deemed binding upon and inure to the benefit of the Debtors, the holders of Claims and Interests (irrespective of whether such Claims or Interests are deemed to have accepted the
Plan), the Released Parties, the Exculpated Parties and each of their respective successors and assigns, including, without limitation, the Reorganized Debtors. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">52 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.14.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Deemed Acts.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to and conditioned on the occurrence of the Effective Date, whenever an act or event is expressed under the Plan to have been deemed
done or to have occurred, it shall be deemed to have been done or to have occurred without any further act by any party, by virtue of the Plan and the Confirmation Order. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.15.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Successor and Assigns.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The rights, benefits, and obligations of any Entity named or referred to in the Plan shall be binding on, and shall inure to the benefit of any
heir, executor, administrator, successor, or permitted assign, if any, of each Entity. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.16.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Entire
Agreement.</I></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On the Effective Date, the Plan, the Plan Supplement, and the Confirmation Order shall supersede all previous and
contemporaneous negotiations, promises, covenants, agreements, understandings, and representations on such subjects, all of which have become merged and integrated into the Plan. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.17.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Exhibits to Plan.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All exhibits, schedules, supplements, and appendices to the Plan (including the Plan Supplement) are incorporated into and are a part of the
Plan as if set forth in full herein. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.18.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Notices.</I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All notices, requests, and demands to or upon the Debtors to be effective shall be in writing (including by electronic or facsimile
transmission) and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made when actually delivered or, in the case of notice by facsimile transmission, when received and telephonically confirmed, addressed as
follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">if to the Debtors or the Reorganized Debtors: </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Tidewater Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Pan American Life Center </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">601
Poydras, Suite 1500 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">New Orleans, Louisiana 70130 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bruce D. Lundstrom </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;blundstrom@tdw.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: (888) <FONT STYLE="white-space:nowrap">909-0946</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">-and- </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Weil,
Gotshal&nbsp;&amp; Manges LLP </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">767 Fifth Avenue </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">New York, New York 10153 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ray C. Schrock, P.C. <U>and</U> Alfredo R. P&eacute;rez, Esq. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;ray.schrock@weil.com <U>and</U> alfredo.perez@weil.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: (212) <FONT STYLE="white-space:nowrap">310-8007</FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">53 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">-and- </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Jones Walker LLP </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">201 St.
Charles Avenue, Floor 50 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">New Orleans, Louisiana 70170 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn:&nbsp;&nbsp;&nbsp;&nbsp;Amy G. Scafidel, Esq. <U>and</U> Curt Hearn, Esq. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">E-mail:</FONT> ascafidel@joneswalker.com <U>and</U> chearn@joneswalker.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: (504) <FONT STYLE="white-space:nowrap">582-8583</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">-and- </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Richards, Layton&nbsp;&amp; Finger, P.A. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">One Rodney Square </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">920 North
King Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Wilmington, Delaware 19801 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Daniel J. DeFranceschi, Esq. <U>and</U> Zachary I. Shapiro, Esq. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;defranceschi@RLF.com <U>and</U> shapiro@rlf.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: (302) <FONT STYLE="white-space:nowrap">651-7701</FONT> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">If to the Credit Agreement Agent, to: </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Morgan, Lewis&nbsp;&amp; Bockius LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">One Federal Street, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Boston,
Massachusetts 02110 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: Amy L. Kyle, Esq. <U>and</U> Edwin E. Smith, Esq. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">E-mail:</FONT> amy.kyle@morganlewis.com <U>and</U> edwin.smith@morganlewis.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: (617) <FONT STYLE="white-space:nowrap">341-7701</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">-and- </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Morris, Nichols,
Arsht&nbsp;&amp; Tunnell LLP </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">1201 North Market Street, 16th Floor </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">P.O. Box 1347 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Wilmington,
Delaware 19899 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: Derek C. Abbott, Esq. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">E-mail:</FONT> dabbott@mnat.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: (302) <FONT STYLE="white-space:nowrap">425-4664</FONT> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">If to the Unofficial Noteholder Committee, to: </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Paul, Weiss, Rifkind, Wharton&nbsp;&amp;
Garrison LLP </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">1285 Avenue of the Americas </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">New York, New York 10019 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn:
Alan W. Kornberg, Esq. <U>and</U> Brian S. Hermann, Esq. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">E-mail:</FONT> akornberg@paulweiss.com
<U>and</U> bhermann@paulweiss.com </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: (212) <FONT STYLE="white-space:nowrap">757-3990</FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">54 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">-and- </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Blank Rome LLP </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">1201 North
Market Street, Suite 800 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Wilmington, Delaware 19801 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: Stanley B. Tarr, Esq. <U>and</U> Rick Antonoff, Esq. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">E-mail:</FONT> tarr@blankrome.com <U>and</U> rantonoff@blankrome.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: (302) <FONT STYLE="white-space:nowrap">428-5104</FONT> <U>and</U> (212) <FONT STYLE="white-space:nowrap">885-5001</FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">55 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">After the Effective Date, the Debtors have authority to send a notice to Entities providing that,
to continue to receive documents pursuant to Bankruptcy Rule 2002, they must file a renewed request to receive documents pursuant to Bankruptcy Rule 2002. After the Effective Date, the Debtors and the Reorganized Debtors, as applicable, are
authorized to limit the list of Entities receiving documents pursuant to Bankruptcy Rule 2002 to those Entities who have filed such renewed requests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: July 13, 2017 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">Respectfully submitted,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">Tidewater Inc. and each of the other Debtors</TD></TR></TABLE></DIV> <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeffrey M. Platt</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Jeffrey M. Platt</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">President and Chief Executive Officer and Authorized Representative</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">56 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Schedule 1 </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Restructuring Support Agreement </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(</B><B><I>Intentionally Omitted</I></B><B>) </B></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Schedule 2 </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Sale Leaseback Agreements<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:21.30pt; font-size:8pt; font-family:Times New Roman"><B>Vessel</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Charterer</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Owner</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Date of<BR>Agreement</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">BARTHEL TIDE</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Tidewater Marine, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Regions Commercial Equipment Finance, LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">3/27/2014</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">BREWSTER TIDE</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Tidewater Marine, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">PNC Equipment Finance, LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">12/11/2014</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">BROUSSARD TIDE</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Tidewater Marine, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Regions Commercial Equipment Finance, LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">3/20/2014</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">DALFREY TIDE</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Tidewater Marine, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Regions Commercial Equipment Finance, LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">3/31/2014</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">DAMON B BANKSTON</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Zapata Gulf Marine, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Fifth Third Equipment Finance Company</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">11/22/2013</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">DELATTE TIDE</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Tidewater Marine, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Banc of America Leasing&nbsp;&amp; Capital, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">12/9/2014</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">DEAN EDWARD TAYLOR</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Zapata Gulf Marine, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Banc of America Leasing&nbsp;&amp; Capital, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">12/20/2013</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">FORTIER TIDE</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Tidewater Marine, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Regions Commercial Equipment Finance, LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">3/20/2014</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">JONATHAN ROZIER</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Tidewater Marine, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">MassMutual Asset Finance LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">3/30/2015</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">KEN C. TAMBLYN</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Point Marine, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">BBVA Compass Financial Corporation</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">9/30/2013</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">LESTER POLLACK</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Gulf Fleet Supply Vessels, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Fifth Third Equipment Finance Company</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">12/13/2013</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">MISS&nbsp;JANE TIDE</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Gulf Fleet Supply Vessels, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Fifth Third Equipment Finance Company</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">12/20/2013</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">PAT TILLMAN</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Tidewater Marine, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Banc of America Leasing&nbsp;&amp; Capital, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">11/25/2014</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">PATTAROZZI TIDE</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Point Marine, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Fifth Third Equipment Finance Company</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">9/30/2014</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">PAUL W. MURRILL</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Twenty Grand Marine Service, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">BBVA Compass Financial Corporation</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">9/27/2013</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">SOLAR TIDE II</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Tidewater Marine, L.L.C.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Fifth Third Equipment Finance Company</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4/1/2014</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">All Sale Leaseback Agreements are guaranteed by Tidewater Inc. </TD></TR></TABLE>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>d159507dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES BANKRUPTCY COURT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DISTRICT OF DELAWARE </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
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<TD VALIGN="bottom"><B>x</B></TD>
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<TD VALIGN="top"><B><I>In re:</I></B></TD>
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<TD VALIGN="bottom"><B>:</B></TD>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;&nbsp;&nbsp;&nbsp;Chapter 11</B></TD></TR>
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<TD VALIGN="top"><B>TIDEWATER INC., </B><B><I>et al</I></B><B>.,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>:</B></TD>
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<TD VALIGN="bottom"><B>:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;&nbsp;&nbsp;&nbsp;Case No.&nbsp;17&#150;11132 (BLS)</B></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>:</B></TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:4.00em; font-size:10pt; font-family:Times New Roman"><B>Debtors.</B><SUP STYLE="font-size:85%; vertical-align:top">1</SUP><B></B></P></TD>
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<TD VALIGN="bottom"><B>:</B></TD>
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<TD VALIGN="bottom"><B>&nbsp;&nbsp;&nbsp;&nbsp;(Jointly Administered)</B></TD></TR>
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<TD VALIGN="bottom"><B>:</B></TD>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>:</B></TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:6pt; font-family:Times New Roman">&nbsp;</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>x</B></P> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
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</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FINDINGS OF FACT, CONCLUSIONS OF LAW, AND </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ORDER (I)&nbsp;APPROVING DEBTORS&#146; (A)&nbsp;DISCLOSURE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>STATEMENT, (B)&nbsp;SOLICITATION OF VOTES AND VOTING </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PROCEDURES AND (C)&nbsp;FORM OF BALLOTS, AND (II)&nbsp;CONFIRMING </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>JOINT PREPACKAGED CHAPTER 11 PLAN OF REORGANIZATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>OF TIDEWATER INC. AND ITS AFFILIATED DEBTORS </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Tidewater Inc. (&#147;<B>Tidewater</B>&#148;)<SUP STYLE="font-size:85%; vertical-align:top">2</SUP> and its debtor affiliates, as debtors and
debtors in possession in the above-captioned chapter 11 cases (the &#147;<B>Debtors</B>&#148;), as &#147;proponents of the plan&#148; within the meaning of section 1129 of title 11 of the United States Code (the &#147;<B>Bankruptcy Code</B>&#148;)
having filed (A)&nbsp;the <I>Joint Prepackaged Chapter 11 Plan of Reorganization of Tidewater Inc. and Its Affiliated Debtors</I> dated May&nbsp;11, 2017 with the Bankruptcy Court on May&nbsp;17, 2017 (Docket No.&nbsp;16) and the <I>First Amended
Joint Prepackaged Chapter 11 Plan of Reorganization </I> </P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Debtors in these chapter 11 cases, along with the last four digits of each Debtor&#146;s federal tax identification number, if any, are: Tidewater Inc. (7776), Tidewater Marine Western, Inc. (1064), Tidewater
Corporate Services, L.L.C. (7776), Tidewater Marine, L.L.C. (7779), Cajun Acquisitions, LLC (2365), Gulf Fleet Supply Vessels, L.L.C. (2194), Hilliard Oil&nbsp;&amp; Gas, Inc. (4727), Java Boat Corporation (0278), Pan Marine International Dutch
Holdings, L.L.C., Point Marine, L.L.C. (9586), Quality Shipyards, L.L.C. (2335), S.O.P., Inc. (3464), Tidewater Marine Alaska, Inc. (7549), Tidewater Marine International Dutch Holdings, L.L.C. (2289), Tidewater Marine Sakhalin, L.L.C. (7779),
Tidewater Mexico Holding, L.L.C. (8248), Tidewater Venture, Inc. (7694), Twenty Grand (Brazil), L.L.C. (7730), Twenty Grand Marine Service, L.L.C. (7730), Zapata Gulf Marine, L.L.C. (5513), Tidewater GOM, Inc. (2799), Tidewater Subsea, L.L.C.
(2022), Tidewater Subsea ROV, L.L.C. (3832), Tidewater Marine Fleet, L.L.C., Tidewater Marine Hulls, L.L.C., Tidewater Marine Ships, L.L.C., and Tidewater Marine Vessels, L.L.C. The Debtors&#146; principal offices are located at 601 Poydras Street,
Suite 1500, New Orleans, Louisiana 70130. </TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Unless otherwise defined herein, capitalized terms shall have the meanings ascribed to them in the Plan (as
defined herein). The rules of construction in section&nbsp;102 of the Bankruptcy Code shall apply to this Order. </P></TD></TR></TABLE>

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<I>of Tidewater Inc. and Its Affiliated Debtors</I>, dated July&nbsp;12, 2017 with the Bankruptcy Court on July&nbsp;12, 2017 (Docket No.&nbsp;336) and the <I>Second Amended Joint Prepackaged
Chapter 11 Plan of Reorganization of Tidewater Inc. and Its Affiliated Debtors</I>, dated July&nbsp;13, 2017 with the Bankruptcy Court on July&nbsp;13, 2017 (Docket No.&nbsp;359) (as the same may be amended, modified, supplemented, or restated, the
&#147;<B>Plan</B>&#148;), a copy of which is annexed hereto as <B><U>Exhibit</U></B><B><U></U></B><B><U>&nbsp;1</U></B>,<B> </B>and that certain supplement to the Plan, dated and filed with the Bankruptcy Court on June&nbsp;5, 2017 (Docket
No.&nbsp;163) (as may be further amended, supplemented, or modified from time to time, the &#147;<B>Plan Supplement</B>&#148;), and (B)&nbsp;the <I>Disclosure Statement</I> <I>for </I><I>Joint Prepackaged Chapter 11 Plan of Reorganization of
Tidewater Inc. and Its Affiliated Debtors</I>, dated May&nbsp;11, 2017 and filed with the Bankruptcy Court on May&nbsp;17, 2017 (Docket No.&nbsp;17) (the &#147;<B>Disclosure Statement</B>&#148;); and the Bankruptcy Court having entered an order<I>
</I>on May&nbsp;19, 2017 (Docket No.&nbsp;99), as modified by the <I>Order (I)</I><I></I><I>&nbsp;Adjourning Combined Hearing on (A)</I><I></I><I>&nbsp;Adequacy of Disclosure Statement and Solicitation Procedures and
(B)</I><I></I><I>&nbsp;Confirmation of Prepackaged Plan and (II)</I><I></I><I>&nbsp;Granting Related Relief</I>, entered on June&nbsp;28, 2017 (Docket No.&nbsp;290) (the &#147;<B>Scheduling Order</B>&#148;), which (i)&nbsp;scheduled a combined
hearing (the &#147;<B>Combined Hearing</B>&#148;) to consider approval of the Disclosure Statement and the Debtors&#146; solicitation procedures and solicitation of votes to accept or reject the Plan (the &#147;<B>Solicitation Procedures</B>&#148;)
and confirmation of the Plan; (ii)&nbsp;established procedures for objecting to approval of the Disclosure Statement and the Solicitation Procedures, and confirmation of the Plan; (iii)&nbsp;approved the form, manner, and sufficiency of notice of
the Combined Hearing; (iv)&nbsp;extended the time for the Debtors to file their schedules of assets and liabilities and statements of financial affairs (collectively, the &#147;<B>Schedules and SOFAs</B>&#148;) and waived the requirement that the
Debtors file the Schedules and SOFAs unless the Plan is not confirmed by July&nbsp;31, 2017; and (v)&nbsp;granted related relief; and appropriate ballots for voting on </P>
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the Plan (the &#147;<B>Ballots</B>&#148;), in the form attached as Exhibit&nbsp;B to the motion to approve the Solicitation Procedures (Docket No.&nbsp;4) having been duly transmitted to holders
of Class&nbsp;3 Claims (General Unsecured Claims) in compliance with the Solicitation Procedures as set forth in the <I>Declaration of Jane Sullivan on Behalf of </I><I>Epiq</I><I> Bankruptcy Solutions, LLC Regarding Service of Solicitation Packages
and Tabulation of Ballots Cast on the Joint Prepackaged Chapter 11 Plan of Reorganization of Tidewater Inc. and Its Affiliated Debtors</I>, filed on June&nbsp;21, 2017 (Docket No.&nbsp;244) (the &#147;<B>Voting Certification</B>&#148;); and the
Ballots having been tabulated in the manner set forth in the Voting Certification and in compliance with the applicable provisions of the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure (the &#147;<B>Bankruptcy Rules</B>&#148;), the Local
Rules of Bankruptcy Practice and Procedure for the United States Bankruptcy Court for the District of Delaware (the &#147;<B>Local Rules</B>&#148;), and all other applicable laws, rules, and regulations, the Combined Hearing having been held before
the Bankruptcy Court on July&nbsp;13, 2017, after due and sufficient notice was given to (i)&nbsp;all of the Debtors&#146; known creditors and equity interest holders; (ii)&nbsp;the Office of the U.S. Trustee for the District of Delaware;
(iii)&nbsp;counsel to the Credit Agreement Agent, (a)&nbsp;Morgan, Lewis&nbsp;&amp; Bockius LLP, One Federal Street, Boston, MA 02110 (Attn: Amy L. Kyle, Esq. and Edwin E. Smith, Esq.), and (b)&nbsp;Morris, Nichols, Arsht&nbsp;&amp; Tunnell LLP,
1201 North Market Street, P.O. Box 1347, Wilmington, DE 19899 (Attn: Derek C. Abbott, Esq.); (iv) counsel to the Unofficial Noteholder Committee, (a)&nbsp;Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP, 1285 Avenue of the Americas, New York,
NY 10019 (Attn: Alan W. Kornberg, Esq. and Brian S. Hermann, Esq.), and (b)&nbsp;Blank Rome LLP, 1201 North Market Street, Suite 800, Wilmington, DE 19801 (Attn: Stanley B. Tarr, Esq. and Rick Antonoff, Esq.); (v)&nbsp;proposed counsel to the
Official Committee of Unsecured Creditors (the &#147;<B>Creditors</B><B>&#146;</B><B> Committee</B>&#148;), (a)&nbsp;Whiteford Taylor&nbsp;&amp; Preston L.L.P., 7 Saint Paul </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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Street, Baltimore, MD 21202 (Attn: Paul M. Nussbaum, Esq. and Alan C. Lazerow, Esq.) and (b)&nbsp;Whiteford, Taylor&nbsp;&amp; Preston LLC, The Renaissance Centre, 405 King Street, Suite 500,
Wilmington, DE 19801 (Attn:&nbsp;Thomas J. Francella, Jr., Esq., Christopher M. Samis, Esq., and L. Katherine Good, Esq.); (vi)&nbsp;proposed counsel to the Official Committee of Equity Security Holders (the &#147;<B>Equity Committee</B>&#148;),
(a)&nbsp;Brown Rudnick LLP, One Financial Center, Boston, MA 02111 (Attn: Steven D. Pohl, Esq.) and Seven Times Square, 47th Floor, New York, NY 10036 (Attn: Howard S. Steel, Esq.) and (b)&nbsp;Saul Ewing LLP, 1201 North Market Street,
Suite&nbsp;2300, P.O. Box 1266, Wilmington, DE 19899 (Attn: Mark Minuti, Esq.) and 1037 Raymond Boulevard, Suite 1520, Newark, NJ 07102 (Attn: Sharon L. Levine, Esq.); (vii)&nbsp;the Securities and Exchange Commission; (viii)&nbsp;the Internal
Revenue Service; (ix)&nbsp;the United States Attorney&#146;s Office for the District of Delaware; (x)&nbsp;all other entities required to be served under Bankruptcy Rules&nbsp;2002 and 3017; and (xi)&nbsp;all other parties in interest (collectively,
the &#147;<B>Master Service List</B>&#148;) in accordance with the Scheduling Order, the Bankruptcy Code, the Bankruptcy Rules, and the Local Rules, in each case established by the affidavits of service, mailing, and/or publication filed with the
Bankruptcy Court, including (1)&nbsp;the Affidavit<I> </I>of<I> </I>Service<I> </I>of<I> </I>Konstantina Haidopoulos<I> </I>Regarding<I> </I>the<I> </I>Scheduling Order,<I> </I>dated May&nbsp;18, 2017 (Docket No.&nbsp;56); (2)&nbsp;the Affidavit of
Service<I> </I>of<I> </I>Konstantina Haidopoulos<I> </I>Regarding<I> </I>Notice<I> </I>of the Combined Hearing, dated May&nbsp;26, 2017 (Docket No.&nbsp;143); (3)&nbsp;the Affidavit of Service of Konstantina Haidopoulos Regarding the Filing of the
Plan Supplement, dated June&nbsp;6, 2017 (Docket No.&nbsp;165); (4)&nbsp;the Proofs of Publication of Shannon Schmidt for <I>The New York Times</I> and Donna Laird of <I>The</I> <I>Times-Picayune</I> Regarding Notice of Commencement of Cases under
Chapter 11 of the Bankruptcy Code and Summary of Joint Prepackaged Chapter 11 Plan and Notice of Hearing to Consider (A)&nbsp;Adequacy of Disclosure Statement and Solicitation Procedures; (B)&nbsp;Confirmation
</P>
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of Plan of Reorganization; and (C)&nbsp;Related Materials, dated May&nbsp;31, 2017 (Docket No.&nbsp;162); and the (5)&nbsp;the Affidavit of Service of Konstantina Haidopoulos<I> </I>Regarding,
among other things, the <I>Order (I)</I><I></I><I>&nbsp;Adjourning Combined Hearing on (A)</I><I></I><I>&nbsp;Adequacy of Disclosure Statement and Solicitation Procedures and (B)</I><I></I><I>&nbsp;Confirmation of Prepackaged Plan and
(II)</I><I></I><I>&nbsp;Granting Certain Related Relief</I>, dated June&nbsp;29, 2017 (Docket No.&nbsp;294) (collectively, the &#147;<B>Notice Affidavits</B>&#148;), and such notice being sufficient under the circumstances and no further notice
being required; and due notice of the Plan Supplement having been given to the Master Service List and all holders of Claims in Class&nbsp;3 (General Unsecured Claims) in compliance with the Bankruptcy Code, the Bankruptcy Rules, the Local Rules,
and the Solicitation Procedures; and based upon and after full consideration of the entire record of the Combined Hearing, including (A)&nbsp;the Disclosure Statement, the Plan (including the Plan Supplement), and the Voting Certification;
(B)<I>&nbsp;Debtors</I><I>&#146;</I> <I>Memorandum of Law (1)</I><I></I><I>&nbsp;in Support of (I)</I><I></I><I>&nbsp;Approval of (A)</I><I></I><I>&nbsp;Disclosure </I><I>Statement, (B)</I><I></I><I>&nbsp;Solicitation of Votes and Voting Procedures,
and (C)</I><I></I><I>&nbsp;Form of Ballots, and (II)</I><I></I><I>&nbsp;Confirmation of First Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Tidewater Inc. and Its Affiliated Debtors and (2)</I><I></I><I>&nbsp;Omnibus Reply to
Objections Thereto</I>, dated July&nbsp;12, 2017 (Docket Nos. 342 &amp; 343); (C)&nbsp;the <I>Declaration of Quinn P. Fanning in Support of Debtors</I><I>&#146;</I><I> Request for (I)</I><I></I><I>&nbsp;Approval of Debtors</I><I>&#146;</I><I>
Disclosure Statement, (II)</I><I></I><I>&nbsp;Final Approval of Solicitation Procedures, and (III)</I><I></I><I>&nbsp;Confirmation of Joint Prepackaged Chapter 11 Plan of Tidewater Inc. and Its Affiliated Debtors Under Chapter 11 of the Bankruptcy
Code</I>, dated July&nbsp;12, 2017 (Docket No.&nbsp;350) (the &#147;<B>Fanning Declaration</B>&#148;); (D)&nbsp;the <I>Declaration of Marc J. Brown in Support of Confirmation of Joint Prepackaged Chapter 11 Plan of Reorganization of Tidewater Inc.
and Its Affiliated Debtors</I>, dated July&nbsp;12, 2017 (Docket No.&nbsp;353) (the &#147;<B>Brown Declaration</B>&#148;); (E)&nbsp;the <I>Declaration of Douglas Fordyce in Support of Confirmation of the Joint Prepackaged Chapter 11 Plan of </I>
</P>
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<I>Reorganization of Tidewater Inc. and Its Affiliated Debtors</I> (the &#147;<B>Fordyce Declaration</B>&#148;), dated July&nbsp;12, 2017 (Docket Nos. 347 &amp; 349) and (F)&nbsp;the Notice
Affidavits; and the Bankruptcy Court being familiar with the Disclosure Statement and the Plan and other relevant factors affecting the Chapter 11 Cases (defined below); and the Bankruptcy Court being fully familiar with, and having taken judicial
notice of, the entire record of the Chapter 11 Cases; and upon the arguments of counsel and the evidence proffered and adduced at the Combined Hearing; and the Bankruptcy Court having found and determined that the Disclosure Statement and the
Solicitation Procedures should be approved and the Plan should be confirmed as reflected by the Bankruptcy Court&#146;s rulings made herein and at the Combined Hearing; and after due deliberation and sufficient cause appearing therefor; the
Bankruptcy Court hereby FINDS, DETERMINES, AND CONCLUDES that: </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>FINDINGS OF FACT AND CONCLUSIONS OF LAW </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;<U>Findings and Conclusions</U>. The findings and conclusions set forth herein and in the record of the Combined
Hearing constitute the Bankruptcy Court&#146;s findings of fact and conclusions of law pursuant to Rule&nbsp;52 of the Federal Rules of Civil Procedure, as made applicable herein by Bankruptcy Rules&nbsp;7052 and 9014. To the extent any of the
following findings of fact constitute conclusions of law, they are adopted as such. To the extent any of the following conclusions of law constitute findings of fact, they are adopted as such. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;<U>Jurisdiction, Venue, Core Proceeding (28 U.S.C.
</U><U>&#167;</U><U>&#167;</U><U></U><U>&nbsp;157(b</U><U>)(</U><U>2), 1334(a))</U>. The Bankruptcy Court has jurisdiction over the Chapter 11 Cases pursuant to 28 U.S.C. &#167;&#167;&nbsp;157 and 1334, and the <I>Amended Standing Order of
Reference</I> from the United States District Court for the District of Delaware, dated February&nbsp;29, 2012. Approval of the Disclosure Statement and the Solicitation Procedures and confirmation of the Plan are core proceedings pursuant to 28
</P>
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U.S.C. &#167;&nbsp;157(b), and this Bankruptcy Court has jurisdiction to enter a final order with respect thereto. The Debtors are eligible debtors under section&nbsp;109 of the Bankruptcy Code.
Venue is proper before this Bankruptcy Court pursuant to 28 U.S.C. &#167;&#167;&nbsp;1408 and 1409. The Debtors are proper plan proponents under section&nbsp;1121(a) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">C.&nbsp;&nbsp;&nbsp;&nbsp;<U>Chapter 11 Petitions</U>. On May&nbsp;17, 2017 (the &#147;<B>Petition Date</B>&#148;), each Debtor commenced with
this Bankruptcy Court a voluntary case under chapter 11 of the Bankruptcy Code (the &#147;<B>Chapter</B><B></B><B>&nbsp;11 Cases</B>&#148;). The Debtors are authorized to continue to operate their businesses and manage their properties as debtors in
possession pursuant to sections&nbsp;1107(a) and 1108 of the Bankruptcy Code. No trustee or examiner has been appointed in the Chapter 11 Cases pursuant to section&nbsp;1104 of the Bankruptcy Code. On June&nbsp;20, 2017, the Office of the U.S.
Trustee appointed the Equity Committee (Docket No.&nbsp;242) and the Creditors&#146; Committee (Docket No.&nbsp;243). In accordance with an order of this Bankruptcy Court (Docket No.&nbsp;90), the Chapter 11 Cases are being jointly administered
pursuant to Bankruptcy Rule&nbsp;1015(b). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">D.&nbsp;&nbsp;&nbsp;&nbsp;<U>Judicial Notice</U>. The Bankruptcy Court takes judicial notice of
the docket of the Chapter&nbsp;11 Cases maintained by the Clerk of the Bankruptcy Court, including all pleadings and other documents filed, all orders entered, and all evidence and arguments made, proffered, or adduced at the hearings held before
the Bankruptcy Court during the pendency of the Chapter&nbsp;11 Cases. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">E.&nbsp;&nbsp;&nbsp;&nbsp;<U>Burden of Proof</U>. The Debtors have
the burden of proving the elements of sections&nbsp;1129(a) and 1129(b) of the Bankruptcy Code by a preponderance of the evidence. Each Debtor has met such burden. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">F.&nbsp;&nbsp;&nbsp;&nbsp;<U>Adequacy of Disclosure Statement</U>. The Disclosure Statement
(i)&nbsp;contains sufficient information of a kind necessary to satisfy the disclosure requirements of all applicable nonbankruptcy law, including the Securities Act of 1933, 15 U.S.C. &#167;&#167; <FONT STYLE="white-space:nowrap">77a-77aa</FONT>
(as amended, the &#147;<B>Securities Act</B>&#148;), (ii)&nbsp;contains &#147;adequate information&#148; (as such term is defined in section&nbsp;1125(a)(1) and used in section&nbsp;1126(b)(2) of the Bankruptcy Code) with respect to the Debtors, the
Plan, and the transactions contemplated therein, and (iii)&nbsp;is approved in all respects. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">G.&nbsp;&nbsp;&nbsp;&nbsp;<U>Solicitation</U>. Prior to the Petition Date, the Debtors, through their administrative advisor, Epiq Bankruptcy
Solutions, LLC (&#147;<B>Epiq</B>&#148;), caused the Plan, the Disclosure Statement (which included as exhibits thereto, among other things, the Restructuring Support Agreement, the Troms Agreement, the Form of Amended Tidewater Parent
Organizational Documents, the Form of Management Incentive Plan, the Form of New Indenture, the Certificate, the Form of New Creditor Warrant Agreement, the Form of New Existing Equity Warrant Agreement, the Form of Registration Rights Agreement,
the Troms Forbearance, and a Liquidation Analysis), the Ballots, a U.S. citizenship questionnaire, a U.S. citizenship certification, and a cover letter (collectively, the &#147;<B>Solicitation Package</B>&#148;), to be transmitted to and served on
the holders of Claims in Class&nbsp;3 (General Unsecured Claims) in compliance with sections&nbsp;1125(g) and 1126(b) of the Bankruptcy Code, the Bankruptcy Rules (including Bankruptcy Rules&nbsp;3017 and 3018), the Local Rules, all other applicable
provisions of the Bankruptcy Code, and all other applicable rules, laws, and regulations applicable to such solicitation. As set forth in the Voting Certification, Solicitation Packages were transmitted to and served on holders of Claims in
Class&nbsp;3 (General Unsecured Claims)&#151;the only Class&nbsp;entitled to vote to accept or reject the Plan&#151;on May&nbsp;12, 2017. <I>See Voting Certification</I>,<I> </I><I>&para;</I><I>&para;</I><I> </I>5 &amp; 6. Each holder of a
Class&nbsp;3 Claim (General Unsecured Claims) received a Ballot. The form of the Ballot </P>
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adequately addressed the particular needs of these Chapter&nbsp;11 Cases and was appropriate for holders of Class&nbsp;3 Claims (General Unsecured Claims). The instructions on the Ballot advised
parties that for a Ballot to be counted, the Ballot must be properly completed, signed, and returned to Epiq so that it would be received by Epiq no later than 5:00 p.m. (Eastern Time) on June&nbsp;12, 2017 (the &#147;<B>Voting Deadline</B>&#148;),
unless such time was extended by the Debtors. The period during which the Debtors solicited acceptances to the Plan was a reasonable period of time for holders to make an informed decision to accept or reject the Plan. The Debtors were not required
to solicit votes from the holders of Claims or Interests in Class&nbsp;1 (Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claims), Class&nbsp;2 (Secured Claims), Class&nbsp;4 (Other General Unsecured Claims), Class&nbsp;5 (Intercompany
Claims), and Class&nbsp;6 (Intercompany Interests) (collectively, the &#147;<B>Unimpaired Classes</B>&#148;), as each such class is Unimpaired under the Plan. The Debtors also were not required to solicit votes from the holders of Interests in
Class&nbsp;7 (Tidewater Parent Interests) and holders of Claims in Class&nbsp;8 (Subordinated Securities Claims), as such Classes are deemed to reject the Plan. As described in and as evidenced by the Voting Certification and the Notice Affidavits,
the transmittal and service of the Solicitation Package (all of the foregoing, the &#147;<B>Solicitation</B>&#148;) were timely, adequate, and sufficient under the circumstances and no other or further solicitation was or shall be required. The
Solicitation complied with the Solicitation Procedures, was appropriate and satisfactory based upon the circumstances of the Chapter&nbsp;11 Cases, was conducted in good faith and was in compliance with the provisions of the Bankruptcy Code, the
Bankruptcy Rules, the Local Rules, and any other applicable rules, laws, and regulations. The Released Parties are entitled to the protection of section&nbsp;1125(e) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">H.&nbsp;&nbsp;&nbsp;&nbsp;<U>Mailing and Publication of Combined Notice</U>. On May&nbsp;22, 2017, the Debtors caused the <I>Notice of
Commencement of Cases </I><I>Under</I><I> Chapter 11 of the Bankruptcy </I> </P>
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<I>Code and Summary of Joint Prepackaged Chapter 11 Plan and Notice of Hearing to Consider (A)</I><I></I><I>&nbsp;Adequacy of Disclosure Statement and Solicitation Procedures;
(B)</I><I></I><I>&nbsp;Confirmation of Plan of Reorganization; and (C)</I><I></I><I>&nbsp;Related Materials</I> (Docket No.&nbsp;105) (the &#147;<B>Combined Notice</B>&#148;) to be mailed to the Master Service List and other parties in interest in
compliance with the Bankruptcy Code, the Bankruptcy Rules, the Local Rules, the Scheduling Order, and the Solicitation Procedures, and published notices substantially similar to the Combined Notice in <I>The New York Times </I>and <I>The</I>
<I>Times-Picayune</I> on May&nbsp;26, 2017. <I>See</I> Notice Affidavit<I> </I>(Docket No.&nbsp;162). The Debtors have given proper, adequate, and sufficient notice of the Combined Hearing, as required by Bankruptcy Rules 3017(a) and 3017(d), Local
Rule 3017&#150;1, and the Scheduling Order. Proper, adequate, and sufficient notice of the Disclosure Statement, the Plan, the Plan Supplement, and the deadlines for filing objections to the Disclosure Statement and Plan have been given to all known
holders of Claims or Interests and all parties on the Master Service List, substantially in accordance with the Scheduling Order. No other or further notice was or shall be required. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">I.&nbsp;&nbsp;&nbsp;&nbsp;<U>Tabulation Results</U>. On June&nbsp;21, 2017, Epiq filed the Voting Certification (Docket No.&nbsp;244)
certifying the method and results of the Ballots tabulated for Class&nbsp;3 (General Unsecured Claims). As of the Voting Deadline, approximately 80% in amount and approximately 83% in number of holders of Claims in Class&nbsp;3 (General Unsecured
Claims) that voted on the Plan by the Voting Deadline voted to accept the Plan. Accordingly, pursuant to the requirements of section&nbsp;1126 of the Bankruptcy Code, the Bankruptcy Court finds that Class&nbsp;3 (General Unsecured Claims) has
accepted the Plan. All procedures used to tabulate the Ballots were fair, reasonable, and conducted in accordance with the applicable provisions of the </P>
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Bankruptcy Code, the Bankruptcy Rules, the Local Rules, the Scheduling Order, and all other applicable rules, laws and regulations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">J.&nbsp;&nbsp;&nbsp;&nbsp;<U>Joint Chapter</U><U></U><U>&nbsp;11 Plan</U>. The Plan is a joint chapter&nbsp;11 plan for each of the Debtors,
with the Plan for each Debtor being nonseverable and mutually dependent on the Plan for each other Debtor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">K.&nbsp;&nbsp;&nbsp;&nbsp;<U>Plan Supplement</U>. On June&nbsp;5, 2017, the Debtors filed the Plan Supplement, consisting of (i)&nbsp;the list
of the New Board Members of Reorganized Tidewater Parent, (ii)&nbsp;the Restructuring Support Agreement, which includes, among other exhibits, the following: (a)&nbsp;the Troms Agreement, (b)&nbsp;the Certificate, (c)&nbsp;the Form of Amended
Tidewater Parent Organizational Documents, (d)&nbsp;the Form of Management Incentive Plan, (e)&nbsp;the Form of New Indenture, (f)&nbsp;the Form of New Creditor Warrant Agreement, (g)&nbsp;the Form of New Existing Equity Warrant Agreement, and
(h)&nbsp;the Form of Registration Rights Agreement. All such documents comply with the terms of the Plan, and the filing and notice of such documents were good and proper in accordance with the Bankruptcy Code, the Bankruptcy Rules, the Local Rules,
the Scheduling Order, and all other applicable rules, laws, and regulations, and no other or further notice is or shall be required. All documents included in the Plan Supplement are integral to, part of, and incorporated by reference into the Plan.
The Debtors reserve the right to alter, amend, update, or modify the Plan Supplement in accordance with the Bankruptcy Code and the Bankruptcy Rules, <I>provided</I>, that such alteration, amendment, update, or modification shall be in form and
substance reasonably satisfactory to the Debtors, the Requisite Consenting Noteholders, and the Requisite Consenting Tidewater Lenders. All parties required to be given notice of the documents identified in the Plan Supplement have been provided
due, proper, timely, and adequate notice and have had an opportunity to appear and be heard with respect </P>
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thereto. The transmittal and notice of the Plan Supplement (and all documents identified therein) were appropriate and satisfactory based upon the circumstances of the Chapter 11 Cases and were
conducted in good faith. No other or further notice with respect to the Plan Supplement (and all documents identified therein) is necessary or shall be required. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">L.&nbsp;&nbsp;&nbsp;&nbsp;<U>Modifications of the Plan</U>. Pursuant to and in compliance with section&nbsp;1127 of the Bankruptcy Code and
Bankruptcy Rule 3018, the Debtors proposed certain immaterial modifications to the Plan as reflected herein and/or in modified or amended versions of the Plan and/or Plan Supplement filed with the Court prior to entry of this Order (collectively,
the &#147;<B>Plan Modifications</B>&#148;). In accordance with Bankruptcy Rule 3019, the Plan Modifications do not (i)&nbsp;constitute material modifications of the Plan under section 1127 of the Bankruptcy Code, (ii)&nbsp;cause the Plan to fail to
meet the requirements of sections 1122 or 1123 of the Bankruptcy Code, (iii)&nbsp;materially and adversely change the treatment of any Claims or Interests, (iv)&nbsp;require <FONT STYLE="white-space:nowrap">re-solicitation</FONT> of any holders of
Claims or Interests, or (v)&nbsp;require that any such holders be afforded an opportunity to change previously cast acceptances or rejections of the Plan. Under the circumstances, the form and manner of notice of the proposed Plan Modifications are
adequate, and no other or further notice of the proposed Plan Modifications is necessary or required. In accordance with section 1127 of the Bankruptcy Code and Bankruptcy Rule 3019, all holders of Claims or Interests who voted to accept the Plan or
who are conclusively presumed to have accepted the Plan, as applicable, are deemed to have accepted the Plan as modified by the Plan Modifications. No holder of a Claim that has voted to accept the Plan shall be permitted to change its acceptance to
a rejection as a consequence of the Plan Modifications. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">M.&nbsp;&nbsp;&nbsp;&nbsp;<U>Bankruptcy Rule 3016(a)</U>. In accordance with Bankruptcy
Rule&nbsp;3016, the Plan is dated and identifies the Debtors as proponents of the Plan. The discharge, release, injunction, and exculpation provisions of the Plan are set forth in bold, thereby complying with Bankruptcy Rule 3016(c). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Compliance with Requirements of Section&nbsp;1129 of Bankruptcy Code </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">N.&nbsp;&nbsp;&nbsp;&nbsp;<U>Plan Compliance with the Bankruptcy Code (11 U.S.C. &#167;</U><U></U><U>&nbsp;1129(a)(1))</U>. The Plan complies
with the applicable provisions of the Bankruptcy Code and thereby satisfies section&nbsp;1129(a)(1) of the Bankruptcy Code. More particularly: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">i.&nbsp;&nbsp;&nbsp;&nbsp;<U>Proper Classification (11 U.S.C. &#167;&#167;</U><U></U><U>&nbsp;1122, 1123(a)(1))</U>. In addition to
Administrative Expense Claims (Section 2.1 of the Plan), Fee Claims (Section 2.2 of the Plan), and Priority Tax Claims (Section 2.3 of the Plan), which need not be classified, Articles&nbsp;III and IV of the Plan classify eight&nbsp;(8) Classes of
Claims and Interests for each of the Debtors. The Claims or Interests placed in each Class&nbsp;are substantially similar to the other Claims or Interests, as the case may be, in each such Class. Valid business, factual, and legal reasons exist for
separately classifying the various Classes of Claims or Interests created under the Plan, and such Classes do not unfairly discriminate between holders of Claims or Interests. The Plan therefore satisfies sections&nbsp;1122 and 1123(a)(1) of the
Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">ii.&nbsp;&nbsp;&nbsp;&nbsp;<U>Specified Unimpaired Classes (11 U.S.C. &#167;</U><U></U><U>&nbsp;1123(a)(2))</U>.
Articles&nbsp;III and IV of the Plan specify that holders of Claims or Interests in Class&nbsp;1 (Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claims), Class&nbsp;2 (Secured Claims), Class&nbsp;4 (Other General Unsecured Claims),
Class&nbsp;5 (Intercompany Claims), and Class&nbsp;6 (Intercompany Interests) are Unimpaired under the Plan within the meaning of section&nbsp;1124 of the Bankruptcy Code, thereby satisfying section&nbsp;1123(a)(2) of the Bankruptcy Code. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">iii.&nbsp;&nbsp;&nbsp;&nbsp;<U>Specified Treatment of Impaired Classes (11 U.S.C.
&#167;</U><U></U><U>&nbsp;1123(a)(3))</U>. Articles&nbsp;III and IV of the Plan designate holders of Claims and Interests in Class&nbsp;3 (General Unsecured Claims), Class&nbsp;7 (Tidewater Parent Interests), and Class&nbsp;8 (Subordinated
Securities Claims) as impaired within the meaning of section&nbsp;1124 of the Bankruptcy Code and specify the treatment of the Claims and Interests in those Classes, thereby satisfying section&nbsp;1123(a)(3) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">iv.&nbsp;&nbsp;&nbsp;&nbsp;<U>No Discrimination (11 U.S.C. &#167;</U><U></U><U>&nbsp;1123(a)(4))</U>. The Plan provides for the same treatment
by the Debtors for each holder of a Claim or Interest in each respective Class&nbsp;unless the holder of a particular Claim or Interest has agreed to a less favorable treatment of such Claim or Interest, thereby satisfying section&nbsp;1123(a)(4) of
the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">v.&nbsp;&nbsp;&nbsp;&nbsp;<U>Implementation of Plan (11 U.S.C. &#167;</U><U></U><U>&nbsp;1123(a)(5))</U>. The Plan,
including the various documents and agreements set forth in the Plan Supplement, provides adequate and proper means for the implementation of the Plan, thereby satisfying section&nbsp;1123(a)(5) of the Bankruptcy Code, including: (i)&nbsp;all
corporate action set forth in Article&nbsp;V of the Plan, including the adoption and filing of the Amended Organizational Documents; (ii)&nbsp;the issuance of New Common Stock and New Warrants; (iii)&nbsp;the entry into, execution, delivery, and
performance under the New Indenture; (iv)&nbsp;the restructuring transactions described in Section&nbsp;5.8 of the Plan; and (v)&nbsp;provisions governing distributions under the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">vi.&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT STYLE="white-space:nowrap">Non-Voting</FONT> Equity Securities / Allocation of Voting Power
(11</U><U></U><U>&nbsp;U.S.C. </U><U>&#167;</U><U></U><U>&nbsp;1123(a</U><U>)(</U><U>6))</U>. The certificate of incorporation, articles of incorporation, limited liability company agreement or similar governing document, as applicable, of each
Debtor has been or will be amended on or prior to the Effective Date to prohibit the issuance of <FONT STYLE="white-space:nowrap">non-voting</FONT> equity securities. In addition, pursuant to the Plan, the New Common Stock and the New Warrants are
</P>
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being issued. The New Common Stock and the New Warrants are not <FONT STYLE="white-space:nowrap">non-voting</FONT> equity securities. Therefore, the issuance of the New Common Stock and the New
Warrants complies with section&nbsp;1123(a)(6) of the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">vii.&nbsp;&nbsp;&nbsp;&nbsp;<U>Designation of Directors and
Officers (11 U.S.C. &#167;</U><U></U><U>&nbsp;1123(a)(7))</U>. On June&nbsp;5, 2017, the Debtors filed with the Court the list of New Board Members of Reorganized Tidewater Parent as <B><U>Exhibit 1 to the Plan Supplement</U></B>, identifying the
directors of Tidewater. Furthermore, Section&nbsp;5.7(b) of the Plan provides that, except as otherwise provided in the Plan Supplement, the officers of the respective Reorganized Debtors immediately before the Effective Date, as applicable, shall
serve as the initial officers of each of the respective Reorganized Debtors on and after the Effective Date and in accordance with Section&nbsp;5.12 of the Plan and applicable nonbankruptcy law. The Plan provisions governing the manner of selection
of any director or officer under the Plan are consistent with the interests of creditors and equity security holders and with public policy in accordance with section 1123(a)(7) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">viii.&nbsp;&nbsp;&nbsp;&nbsp;<U>Impairment/</U><U>Unimpairment</U><U> of Classes of Claims or Interests (11 U.S.C.
</U><U>&#167;</U><U></U><U>&nbsp;1123(b</U><U>)(</U><U>1))</U>. As contemplated by section 1123(b)(1) of the Bankruptcy Code, and pursuant to section 1124 of the Bankruptcy Code, Articles III and IV of the Plan classify and describe the treatment
for the Unimpaired Classes and Impaired Classes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">ix.&nbsp;&nbsp;&nbsp;&nbsp;<U>Assumption and Rejection (11 U.S.C.
&#167;</U><U></U><U>&nbsp;1123(b)(2))</U>. Article VIII of the Plan governing the assumption or rejection of executory contracts and unexpired leases satisfies the requirements of sections 365(b) and 1123(b)(2) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">x.&nbsp;&nbsp;&nbsp;&nbsp;<U>Retention of Causes of Action/Reservation of Rights (11 U.S.C.
</U><U>&#167;</U><U></U><U>&nbsp;1123(b</U><U>)(</U><U>3))</U>. Pursuant to Section&nbsp;10.9 of the Plan and in compliance with section&nbsp;1123(b)(3)(B) of the Bankruptcy Code, except as otherwise set forth in the Plan, the Plan
</P>
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preserves the Debtors&#146; rights, Claims, Causes of Action, rights of setoff or recoupment or other legal or equitable defenses that the Debtors had immediately prior to the Effective Date on
behalf of the Estates or of themselves in accordance with any provision of the Bankruptcy Code or any applicable nonbankruptcy law, and any other affirmative Causes of Action against parties with a relationship with the Debtors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">xi.&nbsp;&nbsp;&nbsp;&nbsp;<U>Modification of Rights (11 U.S.C. &#167;</U><U></U><U>&nbsp;1123(b)(5))</U>. The Plan modifies the rights of
holders of Claims or Interests, as applicable, in Class&nbsp;3 (General Unsecured Claims), Class&nbsp;7 (Tidewater Parent Interests), and Class&nbsp;8 (Subordinated Securities Claims), and leaves Unimpaired the rights of holders of Claims or
Interests, as applicable, in Class&nbsp;1 (Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claims), Class&nbsp;2 (Secured Claims), Class&nbsp;4 (Other General Unsecured Claims), Class&nbsp;5 (Intercompany Claims), and Class&nbsp;6
(Intercompany Interests). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">xii.&nbsp;&nbsp;&nbsp;&nbsp;<U>Additional Plan Provisions (11 U.S.C. &#167;</U><U></U><U>&nbsp;1123(b)(6))</U>.
The provisions of the Plan are appropriate and consistent with the applicable provisions of the Bankruptcy Code and applicable law, thereby satisfying section 1123(a)(6) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">xiii.&nbsp;&nbsp;&nbsp;&nbsp;<U>Debtors Are Not Individuals (11 U.S.C. &#167;</U><U></U><U>&nbsp;1123(c))</U>. The Debtors are not individuals
and, accordingly, section&nbsp;1123(c) of the Bankruptcy Code is inapplicable to these Chapter&nbsp;11 Cases. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">xiv.&nbsp;&nbsp;&nbsp;&nbsp;<U>Cure of Defaults (11 U.S.C. </U><U>&#167;</U><U></U><U>&nbsp;1123(d))</U>. Section&nbsp;8.2 of the Plan
provides for the satisfaction of default claims associated with each executory contract and unexpired lease to be assumed pursuant to the Plan in accordance with section&nbsp;365(b)(1) of the Bankruptcy Code. The Debtors have paid or will pay valid
Cure amounts in the ordinary course, subject to all defenses and disputes the Debtors or the Reorganized Debtors may have with respect to such </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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executory contracts or unexpired leases, which the Debtors or the Reorganized Debtors may assert in the ordinary course. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">O.&nbsp;&nbsp;&nbsp;&nbsp;<U>Debtors&#146; Compliance with Bankruptcy Code (11 U.S.C. &#167;</U><U></U><U>&nbsp;1129(a)(2))</U>. The Debtors
have complied with the applicable provisions of the Bankruptcy Code. Specifically: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">i.&nbsp;&nbsp;&nbsp;&nbsp;Each of the Debtors is an
eligible debtor under section&nbsp;109 of the Bankruptcy Code; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">ii.&nbsp;&nbsp;&nbsp;&nbsp;The Debtors have complied with applicable
provisions of the Bankruptcy Code, except as otherwise provided or permitted by orders of the Bankruptcy Court; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">iii.&nbsp;&nbsp;&nbsp;&nbsp;The Debtors have complied with the applicable provisions of the Bankruptcy Code, including sections&nbsp;1125 and
1126(b), the Bankruptcy Rules, the Local Rules, the Scheduling Order, applicable nonbankruptcy law, and all other applicable laws, rules, and regulations in transmitting the Plan, Plan Supplement, Disclosure Statement, Ballots, and related documents
and notices and in soliciting and tabulating the votes on the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">P.&nbsp;&nbsp;&nbsp;&nbsp;<U>Plan Proposed in Good Faith (11 U.S.C.
</U><U>&#167;</U><U></U><U>&nbsp;1129(a</U><U>)(</U><U>3))</U>. The Debtors have proposed the Plan in good faith and not by any means forbidden by law, thereby satisfying section&nbsp;1129(a)(3) of the Bankruptcy Code. The Debtors&#146; good faith
is evident from the facts and record of these Chapter&nbsp;11 Cases, the Disclosure Statement, and the record of the Combined Hearing and other proceedings held in these Chapter&nbsp;11 Cases. The Plan was proposed with the legitimate and honest
purpose of maximizing the value of the Estates and to effectuate a successful reorganization of the Debtors. The Plan and the Plan Documents (as defined below) are the products of extensive negotiations conducted in good faith and at arm&#146;s
length among the Debtors, the Consenting Creditors, and their respective professionals. Further, the Plan&#146;s classification, indemnification, exculpation, release, and injunction provisions have been
</P>
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negotiated in good faith and at arm&#146;s length, are consistent with sections&nbsp;105, 1122, 1123(b)(3)(A), 1123(b)(6), 1129, and 1142 of the Bankruptcy Code, and are each integral to the
Plan, supported by valuable consideration, and necessary to the Debtors&#146; successful reorganization. Accordingly, the requirements of section 1129(a)(3) of the Bankruptcy Code are satisfied. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Q.&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment for Services or Costs and Expenses (11 U.S.C. &#167;</U><U></U><U>&nbsp;1129(a)(4))</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">i.&nbsp;&nbsp;&nbsp;&nbsp;Any payment made or to be made by the Debtors for services or for costs and expenses of the Debtors&#146;
professionals in connection with the Chapter&nbsp;11 Cases, or in connection with the Plan and incident to the Chapter&nbsp;11 Cases, is subject to the approval of the Bankruptcy Court as reasonable, thereby satisfying section&nbsp;1129(a)(4) of the
Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">ii.&nbsp;&nbsp;&nbsp;&nbsp;As set forth in the Restructuring Support Agreement, as part of the negotiated terms on which
the Debtors and the Consenting Creditors agreed to proceed with the consensual, prepackaged restructuring reflected in the Plan, the Debtors have agreed to pay all reasonable documented fees, expenses, and reimbursements (including any deferred fees
earned and payable upon the Effective Date) of the advisors to the Credit Agreement Agent and the Unofficial Noteholder Committee incurred on or prior to the date of termination of the Restructuring Support Agreement, in accordance with existing
engagement letters with any Debtor (which engagement letters shall be assumed pursuant to section 365 of the Bankruptcy Code on the Effective Date of the Plan), including, without limitation, the reasonable and documented costs and expenses of
(a)&nbsp;Morgan, Lewis&nbsp;&amp; Bockius LLP, as counsel to the Credit Agreement Agent; (b)&nbsp;Morris, Nichols, Arsht&nbsp;&amp; Tunnell LLP, as local Delaware counsel to the Credit Agreement Agent; (c)&nbsp;FTI Consulting, Inc., as financial
advisor to the Credit Agreement Agent; (d)&nbsp;Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP, as counsel to the Unofficial </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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Noteholder Committee; (e)&nbsp;Blank Rome LLP, as maritime and local Delaware counsel to the Unofficial Noteholder Committee; (f)&nbsp;Houlihan Lokey Capital, Inc., as financial advisor to the
Unofficial Noteholder Committee; and (g)&nbsp;such advisors as may be retained in the Consenting Creditors&#146; reasonable discretion in <FONT STYLE="white-space:nowrap">non-U.S.</FONT> jurisdictions for purposes of effecting the transactions
contemplated under the Plan (the &#147;<B>Restructuring Expenses</B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">R.&nbsp;&nbsp;&nbsp;&nbsp;<U>Directors, Officers, and
Insiders (11 U.S.C. &#167;</U><U></U><U>&nbsp;1129(a)(5))</U>. The Debtors have complied with section&nbsp;1129(a)(5) of the Bankruptcy Code. The identity and affiliations of the persons proposed to serve as the directors and officers of the
Reorganized Debtors upon the Effective Date have been fully disclosed to the extent such information is available, and the appointment to, or continuance in, such offices of such persons is consistent with the interests of holders of Claims against
and Interests in the Debtors and with public policy. Each such person shall serve pursuant to the terms of the applicable organizational documents of such Reorganized Debtor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">S.&nbsp;&nbsp;&nbsp;&nbsp;<U>No Rate Changes (11 U.S.C. &#167;</U><U></U><U>&nbsp;1129(a)(6))</U>. The Plan does not provide for rate changes
by any of the Reorganized Debtors. Thus, section&nbsp;1129(a)(6) of the Bankruptcy Code is not applicable in these Chapter&nbsp;11 Cases. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">T.&nbsp;&nbsp;&nbsp;&nbsp;<U>Best Interest of Creditors (11 U.S.C. </U><U>&#167;</U><U></U><U>&nbsp;1129(a</U><U>)(</U><U>7))</U>. The Plan
satisfies section&nbsp;1129(a)(7) of the Bankruptcy Code. The liquidation analysis included in the Disclosure Statement and the other evidence related thereto in support of confirmation of the Plan that were proffered or adduced at or prior to the
Combined Hearing or in the Brown Declaration (i)&nbsp;are reasonable, persuasive, and credible; (ii)&nbsp;utilize reasonable and appropriate methodologies and assumptions; (iii)&nbsp;have not been controverted by other evidence; and
(iv)&nbsp;establish that each holder of an impaired Claim or Interest either has accepted the Plan or will receive or retain </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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under the Plan, on account of such Claim or Interest, property of a value, as of the Effective Date, that is not less than the amount that such holder would receive or retain if the Debtors were
liquidated under chapter&nbsp;7 of the Bankruptcy Code on such date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">U.&nbsp;&nbsp;&nbsp;&nbsp;<U>Acceptance by Certain Classes (11
U.S.C. &#167;</U><U></U><U>&nbsp;1129(a)(8))</U>. Holders of Claims or Interests in Class&nbsp;1 (Priority <FONT STYLE="white-space:nowrap">Non-Tax</FONT> Claims), Class&nbsp;2 (Secured Claims), Class&nbsp;4 (Other General Unsecured Claims),
Class&nbsp;5 (Intercompany Claims), and Class&nbsp;6 (Intercompany Interests) are Unimpaired under the Plan and are, therefore, conclusively presumed to have accepted the Plan pursuant to section&nbsp;1126(f) of the Bankruptcy Code. Class&nbsp;3
(General Unsecured Claims) has voted to accept the Plan in accordance with sections&nbsp;1126(b) and 1126(c) of the Bankruptcy Code, without regard to the votes of insiders of the Debtors. Holders of Interests in Class&nbsp;7 (Tidewater Parent
Interests) and Claims in Class&nbsp;8 (Subordinated Securities Claims) are Classes of Impaired Interests or Claims that are conclusively presumed to have rejected the Plan in accordance with section 1126(g) of the Bankruptcy Code. Pursuant to
section&nbsp;1129(b)(1) of the Bankruptcy Code, the Plan may be confirmed notwithstanding that holders of Interests in Class&nbsp;7 (Tidewater Parent Interests) and Claims in Class&nbsp;8 (Subordinated Securities Claims) are Impaired and are deemed
to have rejected the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">V.&nbsp;&nbsp;&nbsp;&nbsp;<U>Treatment of Administrative Expense Claims, Priority Tax Claims, and Other
Priority Claims (11 U.S.C. </U><U>&#167;</U><U></U><U>&nbsp;1129(a</U><U>)(</U><U>9))</U>. The treatment of Allowed Administrative Expense Claims and Fee Claims pursuant to Sections&nbsp;2.1 and 2.2 of the Plan satisfies the requirements of
section&nbsp;1129(a)(9)(A) of the Bankruptcy Code. The treatment of Priority Non-Tax Claims pursuant to Section&nbsp;4.1 of the Plan satisfies the requirements of section&nbsp;1129(a)(9)(B) of the Bankruptcy Code. The treatment of Priority Tax
Claims pursuant to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


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Section&nbsp;2.3 of the Plan satisfies the requirements of section 1129(a)(9)(C) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">W.&nbsp;&nbsp;&nbsp;&nbsp;<U>Acceptance by Impaired Class (11 U.S.C. &#167;</U><U></U><U>&nbsp;1129(a)(10))</U>. Class&nbsp;3 (General
Unsecured Claims) is Impaired and voted to accept the Plan by the requisite majorities, determined without including any acceptance of the Plan by any insider, thereby satisfying the requirements of section&nbsp;1129(a)(10) of the Bankruptcy Code.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">X.&nbsp;&nbsp;&nbsp;&nbsp;<U>Feasibility (11 U.S.C. &#167;</U><U></U><U>&nbsp;1129(a)(11))</U>. The information in the Disclosure
Statement and the evidence proffered or adduced at the Combined Hearing or set forth in the Fanning Declaration, the Brown Declaration, and the Fordyce Declaration, (i)&nbsp;are reasonable, persuasive, and credible, (ii)&nbsp;utilize reasonable and
appropriate methodologies and assumptions, (iii)&nbsp;have not been controverted by other evidence, and (iv)&nbsp;together with the record of these Chapter 11 Cases establish that the Plan is feasible and that there is a reasonable prospect of the
Reorganized Debtors being able to meet their financial obligations under the Plan and their business in the ordinary course, and that confirmation of the Plan is not likely to be followed by the liquidation or the need for further financial
reorganization of the Reorganized Debtors. Accordingly, the Plan satisfies the requirements of section&nbsp;1129(a)(11) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Y.&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment of Statutory Fees (11 U.S.C. &#167;</U><U></U><U>&nbsp;1129(a)(12))</U>. All fees payable under
section&nbsp;1930 of title 28 of the United States Code, as determined by the Bankruptcy Code, have been or will be paid on or before the Effective Date pursuant to Section&nbsp;12.1 of the Plan, thereby satisfying the requirements of
section&nbsp;1129(a)(12) of the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Z.&nbsp;&nbsp;&nbsp;&nbsp;<U>Continuation of Retiree Benefits (11 U.S.C.
</U><U>&#167;</U><U></U><U>&nbsp;1129(a</U><U>)(</U><U>13))</U>. Section&nbsp;5.12 of the Plan provides that all Employment Arrangements (which includes Benefits Plans) shall be deemed to be, and shall be treated as, executory contracts under the
Plan and, on the Effective </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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Date, shall be assumed pursuant to sections 365 and 1123(b) of the Bankruptcy Code. The Plan therefore satisfies section 1129(a)(13) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">AA.&nbsp;&nbsp;&nbsp;&nbsp;<U>No Domestic Support Obligations (11 U.S.C. &#167;</U><U></U><U>&nbsp;1129(a)(14))</U>. The Debtors are not
required by a judicial or administrative order, or by statute, to pay a domestic support obligation. Accordingly, section&nbsp;1129(a)(14) of the Bankruptcy Code is inapplicable in these Chapter&nbsp;11 Cases. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">BB.&nbsp;&nbsp;&nbsp;&nbsp;<U>Debtors Are Not Individuals (11 U.S.C. &#167;</U><U></U><U>&nbsp;1129(a)(15))</U>. The Debtors are not
individuals, and accordingly, section&nbsp;1129(a)(15) of the Bankruptcy Code is inapplicable in these Chapter&nbsp;11 Cases. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">CC.&nbsp;&nbsp;&nbsp;&nbsp;<U>No Applicable Nonbankruptcy Law Regarding Transfers (11 U.S.C. &#167;</U><U></U><U>&nbsp;1129(a)(16))</U>. The
Debtors are each a moneyed, business, or commercial corporation, and accordingly, section&nbsp;1129(a)(16) of the Bankruptcy Code is inapplicable in these Chapter&nbsp;11 Cases. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">DD.&nbsp;&nbsp;&nbsp;&nbsp;<U>No Unfair Discrimination; Fair and Equitable (11 U.S.C.
</U><U>&#167;</U><U></U><U>&nbsp;1129(b))</U>.&nbsp;&nbsp;&nbsp;&nbsp;Class 7 (Tidewater Parent Interests) and Class&nbsp;8 (Subordinated Securities Claims) are deemed to have rejected the Plan. Based upon the evidence proffered, adduced, and
presented by the Debtors at the Combined Hearing, the Plan does not discriminate unfairly and is fair and equitable with respect to the aforementioned Classes, as required by sections&nbsp;1129(b)(1) and (b)(2) of the Bankruptcy Code, because no
holder of any Claim or Interest that is junior to each such Class&nbsp;will receive or retain any property under the Plan on account of such junior claim or interest, and no holder of a Claim or Interest in a Class&nbsp;senior to such Classes is
receiving more than 100% recovery on account of its Claim or Interest. Thus, the Plan may be confirmed </P>
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notwithstanding the deemed rejection of the Plan by Class&nbsp;7 (Tidewater Parent Interests) and Class&nbsp;8 (Subordinated Securities Claims). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">EE.&nbsp;&nbsp;&nbsp;&nbsp;<U>Only One Plan (11 U.S.C. &#167;</U><U></U><U>&nbsp;1129(c))</U>. The Plan is the only plan filed in each of the
Chapter 11 Cases, and accordingly, section&nbsp;1129(c) of the Bankruptcy Code is inapplicable in these Chapter&nbsp;11 Cases. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">FF.&nbsp;&nbsp;&nbsp;&nbsp;<U>Principal Purpose of Plan (11 U.S.C. &#167;</U><U></U><U>&nbsp;1129(d))</U>. The principal purpose of the Plan
is not the avoidance of taxes or the avoidance of the application of section&nbsp;5 of the Securities Act and no governmental entity has objected to confirmation of the Plan on any such grounds. The Plan, therefore, satisfies the requirements of
section&nbsp;1129(d) of the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">GG.&nbsp;&nbsp;&nbsp;&nbsp;<U>Good Faith Solicitation (11 U.S.C.
</U><U>&#167;</U><U></U><U>&nbsp;1125(e))</U>. Based on the record before the Bankruptcy Court in these Chapter&nbsp;11 Cases, including evidence presented at the Combined Hearing, the Debtors and the Released Parties (i)&nbsp;have acted in
&#147;good faith&#148; within the meaning of section&nbsp;1125(e) of the Bankruptcy Code in compliance with the applicable provisions of the Bankruptcy Code, the Bankruptcy Rules, the Local Rules, the Scheduling Order, and any applicable
nonbankruptcy law, rule, or regulation governing the adequacy of disclosure in connection with all their respective activities relating to the solicitation of acceptances of the Plan and their participation in the activities described in
section&nbsp;1125 of the Bankruptcy Code and (ii)&nbsp;shall be deemed to have participated in good faith and in compliance with the applicable provisions of the Bankruptcy Code in the offer and issuance of any securities under the Plan, and
therefore are not, and on account of such offer, issuance, and solicitation will not be, liable at any time for the violation of any applicable law, rule, or regulation governing the solicitation of acceptances or rejections of the Plan or the offer
and issuance of the securities under the Plan, </P>
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and are entitled to the protections afforded by section&nbsp;1125(e) of the Bankruptcy Code, Section&nbsp;10.10 of the Plan, and, to the extent such parties are listed therein as Exculpated
Parties, the exculpation provisions set forth in Section&nbsp;10.7 of the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">HH.&nbsp;&nbsp;&nbsp;&nbsp;<U>Satisfaction of
Confirmation Requirements</U>. Based upon the foregoing, the Plan satisfies the requirements for confirmation set forth in section&nbsp;1129 of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">II.&nbsp;&nbsp;&nbsp;&nbsp;<U>Implementation</U>. All documents and agreements necessary to implement the Plan, including, without limitation,
the documents contained in and contemplated by the Plan Supplement, and all other relevant and necessary documents and agreements that are necessary to implement the Plan and the Plan Supplement (including all exhibits and schedules thereto)
(collectively, the &#147;<B>Plan Documents</B>&#148;) are essential elements of the Plan, and consummation of each such Plan Document is in the best interests of the Debtors, the Estates, and holders of Claims and Interests. The Debtors have
exercised reasonable business judgment in determining to enter into the Plan Documents, and the Plan Documents have been negotiated in good faith, at <FONT STYLE="white-space:nowrap">arm&#146;s-length,</FONT> are fair and reasonable, are supported
by reasonably equivalent value and fair consideration, and shall, upon completion of documentation and execution, be valid, binding, and enforceable agreements and not be in conflict with any federal or state law. The Debtors are authorized to take
any action reasonably necessary or appropriate to consummate such agreements and the transactions contemplated thereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">JJ.&nbsp;&nbsp;&nbsp;&nbsp;<U>Executory</U><U> Contracts and Unexpired Leases</U>. The Debtors have exercised reasonable business judgment in
determining whether to assume or reject executory contracts and unexpired leases pursuant to Article VIII of the Plan. Each assumption of an executory contract or unexpired lease pursuant to Article VIII of the Plan shall be legal, valid, and
binding </P>
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upon the Debtors or Reorganized Debtors and their successors and assigns and all <FONT STYLE="white-space:nowrap">non-Debtor</FONT> parties and their successors and assigns to such executory
contract or unexpired lease, all to the same extent as if such assumption were effectuated pursuant to an order of the Bankruptcy Court under section&nbsp;365 of the Bankruptcy Code entered before entry of this Order. Moreover, the Debtors have
Cured, or provided adequate assurance that the Debtors or Reorganized Debtors, as applicable, will Cure, defaults (if any) under or relating to each of the executory contracts and unexpired leases that are being assumed by the Debtors pursuant to
the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">KK.&nbsp;&nbsp;&nbsp;&nbsp;<U>Injunction, Exculpation, and Releases</U>. The Bankruptcy Court has jurisdiction under
sections&nbsp;1334(a) and 1334(b) of title 28 of the United States Code and authority under section 105 of the Bankruptcy Code to approve the injunctions or stays, injunction against interference with the Plan, releases, and exculpation set forth in
the Plan, including in Sections&nbsp;10.5, 10.6 and 10.7 of the Plan. As has been established here based upon the record in the Chapter&nbsp;11 Cases and the evidence presented at the Combined Hearing, such provisions (i)&nbsp;were given in exchange
for good and valuable consideration; (ii)&nbsp;were integral to the agreements among the various parties in interest and are essential to the formulation and implementation of the Plan, as provided in section&nbsp;1123 of the Bankruptcy Code;
(iii)&nbsp;confer substantial benefits on the Estates; (iv)&nbsp;are fair, equitable and reasonable; (v)&nbsp;are in the best interests of the Debtors, the Estates, and parties in interest; and (vi)&nbsp;failure to implement the injunctions,
exculpation, and releases would jeopardize the Debtors&#146; ability to confirm and implement the Plan. Pursuant to section&nbsp;1123(b)(3) of the Bankruptcy Code and Bankruptcy Rule&nbsp;9019(a), the injunctions, releases, and exculpation set forth
in the Plan and implemented by this Order are fair, equitable, reasonable, and in the best interests of the Debtors, the Reorganized Debtors, the Estates, creditors, and equity holders, and supported by adequate consideration. The
</P>
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releases granted by <FONT STYLE="white-space:nowrap">non-Debtors</FONT> under the Plan for the benefit of the Released Parties are consensual because they are provided only by (i)&nbsp;the
holders of Impaired Claims except those (A)&nbsp;deemed to reject the Plan or (B)&nbsp;who voted to reject, or abstained from voting on, the Plan <B><U>and</U></B> have also checked the box on the applicable ballot or notice indicating that they opt
out of granting the releases provided in the Plan (except the Consenting Creditors, who may not opt out of granting the releases provided in the Plan in accordance with and subject to the terms and conditions of the Restructuring Support Agreement),
and (ii)&nbsp;the holders of Unimpaired Claims or Interests who do not timely object to the releases provided in the Plan. <I>See</I> <I>In re Indianapolis Downs, LLC</I>, 486 B.R. 286, 304&#150;05 (Bankr. D. Del. 2013). Moreover, the releases
granted by holders of Claims or Interests under the Plan are fair to holders of Claims and Interests, are necessary to the proposed reorganization, and/or are given in exchange for, and are supported by fair, sufficient, and adequate consideration
provided by each and all of the parties receiving such releases, thereby satisfying the applicable standards contained in <I>In re Indianapolis Downs</I>, 486 B.R. at 303, and are otherwise appropriate under <I>In re W.R.
Grace</I><I></I><I>&nbsp;&amp; Co.</I>, 475 B.R. 34, 107 (D. Del. 2012). Each <FONT STYLE="white-space:nowrap">non-Debtor</FONT> Released Party that will benefit from the releases either shares an identity of interest with the Debtors, was
instrumental to the successful prosecution of the Chapter 11 Cases, and/or provided a substantial contribution to the Debtors, which value provided a significant benefit to the Estates. The releases granted by the Debtors under the Plan represent a
valid exercise of the Debtors&#146; business judgment. The exculpations granted under the Plan are reasonable in scope as the exculpation provision does not relieve any party of liability for an act or omission to the extent such act or omission is
a criminal act or constitutes gross negligence, willful misconduct, or intentional fraud as determined by Final Order. The record of the Combined Hearing and these Chapter&nbsp;11 Cases is sufficient to support the injunctions,
</P>
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releases, and exculpation provided for in the Plan, including Sections&nbsp;10.5, 10.6, and 10.7 of the Plan. Accordingly, based upon the record of these Chapter&nbsp;11 Cases, the
representations of the parties, and/or the evidence proffered, adduced, and/or presented at the Combined Hearing, the injunctions, releases, and exculpation set forth in Article X of the Plan are consistent with the Bankruptcy Code and applicable
law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">LL.&nbsp;&nbsp;&nbsp;&nbsp;<U>Good Faith</U>. The Debtors and the Released Parties have been and will be acting in good faith as
they proceed to (i)&nbsp;consummate the Plan and the agreements, settlements, transactions, and transfers contemplated thereby (including those contained in the Plan Documents) and (ii)&nbsp;take the actions authorized and directed by this Order.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">MM.&nbsp;&nbsp;&nbsp;&nbsp;<U>New Secured Notes</U>. The Debtors&#146; issuance of the New Secured Notes is an essential element of the
Plan, is necessary to the consummation of the Plan and the operation of the Reorganized Debtors, and constitutes reasonably equivalent value and fair consideration. The terms of the New Secured Notes are fair and reasonable, are supported by
reasonably equivalent value and fair consideration, and entry into and consummation of the transactions contemplated by the New Secured Notes and related documents, including the New Indenture and all the other related agreements, instruments, or
other documents necessary to implement the New Secured Notes (collectively, the &#147;<B>New Secured Notes Documents</B>&#148;) is in the best interests of the Debtors, their Estates, and all holders of Claims or Interests, and is approved in all
respects. The Debtors have exercised their reasonable business judgment in determining to enter into the New Indenture and the other New Secured Notes Documents and have provided sufficient and adequate notice of the material terms of the New
Indenture, which was filed as part of the Plan Supplement. The execution, delivery, and performance by the Debtors or Reorganized Debtors, as the case may be, of any documents in connection with the New Secured
</P>
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Notes, including the New Secured Notes Documents, and compliance by the Debtors or the Reorganized Debtors, as the case may be, with the terms thereof are authorized by, and will not conflict
with, the terms of the Plan or this Order. The financial accommodations to be extended pursuant to the New Secured Notes Documents were negotiated in good faith and at arm&#146;s length, for legitimate business purposes, are fair and reasonable, do
not conflict with applicable law, shall not be subject to recharacterization for any purposes whatsoever, and shall not constitute preferential transfers or fraudulent conveyances under the Bankruptcy Code or any other applicable nonbankruptcy law.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NN.&nbsp;&nbsp;&nbsp;&nbsp;<U>Amended Organizational Documents and Registration Rights Agreement</U>. The Amended Organizational
Documents and Registration Rights Agreement are necessary to the consummation of the Plan and the operation of the Reorganized Debtors. The terms of the Amended Organizational Documents and Registration Rights Agreement are fair and reasonable,
reflect the Debtors&#146; exercise of prudent business judgment consistent with their fiduciary duties, are supported by reasonably equivalent value and fair consideration, and are in the best interests of the Estates and their creditors. The
Amended Organizational Documents and the Registration Rights Agreement are the result of good faith, <FONT STYLE="white-space:nowrap">arm&#146;s-length</FONT> negotiations among the Debtors and the Consenting Creditors, are appropriate and
consistent with the applicable provisions of the Bankruptcy Code and the Bankruptcy Rules, including, but not limited to, Bankruptcy Code sections 1123, 1129, and 1142, and are necessary to the Debtors&#146; successful emergence from chapter 11. The
execution, delivery, or performance by the Debtors or Reorganized Debtors, as the case may be, of any documents in connection with the Amended Organizational Documents and Registration Rights Agreement and compliance by the Debtors or Reorganized
Debtors, as the case may be, with the terms thereof are authorized by, and will not conflict with, the terms of </P>
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the Plan or this Order. The notice provided by the Debtors of the Amended Organizational Documents and Registration Rights Agreement was consistent with the Bankruptcy Code, the Bankruptcy Rules,
and the Scheduling Order, and no other or further notice is or shall be required. The Amended Organizational Documents and Registration Rights Agreement are hereby approved and shall constitute legal, valid, binding, and authorized obligations of
the Reorganized Debtors enforceable in accordance with their terms. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">OO.&nbsp;&nbsp;&nbsp;&nbsp;<U>Exemption from Securities Laws</U>.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">i.&nbsp;&nbsp;&nbsp;&nbsp;The offer, issuance, and distribution of the New Warrants (and the New Common Stock issuable upon exercise
thereof), the New Common Stock, and the New Secured Notes to holders of Allowed General Unsecured Claims and holders of Allowed Existing Interests, as applicable, under Article IV of the Plan shall be exempt, pursuant to section 1145 of the
Bankruptcy Code, without further act or action by any Entity, from registration under (a)&nbsp;the Securities Act, and all rules and regulations promulgated thereunder and (b)&nbsp;any state or local law requiring registration for the offer,
issuance, or distribution of securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">ii.&nbsp;&nbsp;&nbsp;&nbsp;The New Common Stock, the New Secured Notes, and the New Warrants
(and the New Common Stock issuable upon exercise thereof) shall be freely tradable by the recipients thereof, subject to (a)&nbsp;the provisions of section 1145(b)(1) of the Bankruptcy Code relating to the definition of an underwriter in section
2(a)(11) of the Securities Act; (b)&nbsp;compliance with any rules and regulations of the Securities and Exchange Commission, if any, applicable at the time of any future transfer of such securities or instruments; (c)&nbsp;the restrictions, if any,
on the transferability of such securities and instruments, including, without limitation, any restrictions on the transferability under the terms of the Amended Organizational Documents and the New Warrants; and (d)&nbsp;applicable regulatory
approval. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">PP.&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions Precedent to Confirmation and Effective Date</U>. The
conditions precedent to confirmation of the Plan and occurrence of the Effective Date set forth in Sections&nbsp;9.1 and 9.2 of the Plan may be waived in writing by the Debtors with the prior written consent of the Requisite Consenting Tidewater
Lenders and the Requisite Consenting Noteholders, such consent not to be unreasonably withheld, without leave of or order of the Bankruptcy Court. Subject to the consent of both the Requisite Consenting Tidewater Lenders and the Requisite Consenting
Noteholders, such consent not to be unreasonably withheld, if the Plan is confirmed for fewer than all of the Debtors as provided for in Section&nbsp;5.16 of the Plan, only the conditions applicable to the Debtor or Debtors for which the Plan is
confirmed must be satisfied or waived for the Effective Date to occur with respect to such Debtor or Debtors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">QQ.&nbsp;&nbsp;&nbsp;&nbsp;<U>Retention of Jurisdiction</U>. Except as otherwise provided in any of the Plan Documents, the Bankruptcy Court
may properly, and upon the Effective Date shall, retain exclusive jurisdiction over all matters arising out of, and related to, the Chapter&nbsp;11 Cases, including the matters set forth in Article XI of the Plan and section&nbsp;1142 of the
Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">RR.&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver of Stay</U>. Given the facts and circumstances of the Chapter 11 Cases, it is
appropriate that this Order shall not be stayed pursuant to Bankruptcy Rules 3020(e), 6004(g), 6006(d), or 7062. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>ORDER </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">ACCORDINGLY, IT IS HEREBY ORDERED, ADJUDGED, DECREED, AND DETERMINED THAT: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;<U>Confirmation of Plan</U>. The Plan and each of its provisions shall be, and hereby are, <B>CONFIRMED</B> under
section&nbsp;1129 of the Bankruptcy Code. The Plan Documents </P>
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are hereby authorized and approved. The terms of the Plan, all schedules thereto, and the Plan Documents each, as may be modified under the Plan, are incorporated by reference into and are an
integral part of the Plan and this Order. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;<U>Findings of Fact and Conclusions of Law</U>. The above-referenced
findings of fact and conclusions of law are hereby incorporated by reference as though fully set forth herein and shall constitute findings of fact and conclusions of law pursuant to Bankruptcy Rule&nbsp;7052, made applicable herein by Bankruptcy
Rule&nbsp;9014. To the extent that any finding of fact shall be determined to be a conclusion of law, it shall be deemed so, and vice versa. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;<U>Combined Notice</U>. The Combined Notice complied with the terms of the Scheduling Order, was appropriate and
satisfactory based upon the circumstances of the Chapter&nbsp;11 Cases, and was in compliance with the provisions of the Bankruptcy Code, the Bankruptcy Rules, the Local Rules, and applicable nonbankruptcy law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4.&nbsp;&nbsp;&nbsp;&nbsp;<U>Solicitation</U>. The solicitation of votes on the Plan complied with the Solicitation Procedures, was
appropriate and satisfactory based upon the circumstances of the Chapter&nbsp;11 Cases, and was in compliance with the provisions of the Bankruptcy Code, the Bankruptcy Rules, the Local Rules, the Scheduling Order, and applicable nonbankruptcy law.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5.&nbsp;&nbsp;&nbsp;&nbsp;<U>Ballot</U>. The form of Ballot annexed as an exhibit to the motion to approve the Solicitation Procedures
(Docket No.&nbsp;4) is adequate and appropriate, is in compliance with Bankruptcy Rule&nbsp;3018(c), substantially conforms to Official Form B 314, and is approved in all respects. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">6.&nbsp;&nbsp;&nbsp;&nbsp;<U>Plan Modifications and Amendments</U>. On July&nbsp;12, 2017, the Debtors filed the <I>First Amended Joint
Prepackaged Chapter 11 Plan of Reorganization of Tidewater Inc. and Its Affiliated Debtors</I>, dated July&nbsp;12, 2017 (Docket No.&nbsp;336). On July&nbsp;13, 2017, the Debtors filed </P>
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the <I>Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Tidewater Inc. and Its Affiliated Debtors</I>, dated July&nbsp;13, 2017 (Docket No.&nbsp;359). The modifications,
amendments, and supplements made to the Plan following the solicitation of votes thereon constitute technical changes and do not materially adversely affect or change the treatment of any Claims or Interests. Accordingly, such modifications do not
require additional disclosure or <FONT STYLE="white-space:nowrap">re-solicitation</FONT> of votes under sections 1125, 1126, or 1127 of the Bankruptcy Code or Bankruptcy Rule 3019, nor do they require that holders of Class&nbsp;3 Claims (General
Unsecured Claims) be afforded an opportunity to change previously cast acceptances or rejections of the Plan. Holders of Class&nbsp;3 Claims (General Unsecured Claims) who voted to accept the solicitation version of the Plan are deemed to accept the
Plan as modified. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">7.&nbsp;&nbsp;&nbsp;&nbsp;<U>Solicitation of Disclosure Statement</U>. The Disclosure Statement (a)&nbsp;contains
adequate information of a kind that is consistent with the disclosure requirements of applicable nonbankruptcy law, including the Securities Act, (b)&nbsp;contains &#147;adequate information&#148; (as such term is defined in section&nbsp;1125(a)(1)
and used in section&nbsp;1126(b)(2) of the Bankruptcy Code) with respect to the Debtors, the Plan, and the transactions contemplated therein, and (c)&nbsp;is approved in all respects. To the extent that the Debtors&#146; Solicitation was deemed to
constitute an offer of new securities, such Solicitation is exempt from registration pursuant to section 4(a)(2) and Regulation D of the Securities Act. Specifically, section 4(a)(2) and Regulation D of the Securities Act creates an exemption from
the registration requirements under the Securities Act for transactions not involving a &#147;public offering.&#148; 15 U.S.C. &#167;&nbsp;77d(a)(2). The Debtors have complied with the requirements of section 4(a)(2) and Regulation D of the
Securities Act as the prepetition Solicitation of acceptances would constitute a private placement of securities. The Solicitation was made only to those holders of Class&nbsp;3 Claims (General Unsecured Claims) who
</P>
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are &#147;accredited investors&#148; (within the meaning of rule 501(a) of Regulation D of the Securities Act), as such creditors were required to certify on their Ballots that they were
&#147;accredited investors.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">8.&nbsp;&nbsp;&nbsp;&nbsp;<U>Objections</U>. All objections to confirmation of the Plan and other
responses, comments, statements, or reservation of rights, if any, in opposition to the Plan, the Plan Supplement, and/or the Disclosure Statement have been withdrawn, waived, or otherwise resolved by the Debtors prior to entry of this Order. To the
extent that any objections (including any reservations of rights contained therein) to confirmation of the Plan or the Plan Supplement or other responses, comments, statements, or reservation of rights with respect to confirmation of the Plan or the
Plan Supplement have not been withdrawn prior to entry of this Order, such objections or other responses, comments, statements, or reservations of rights shall be, and hereby are, overruled on the merits. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.&nbsp;&nbsp;&nbsp;&nbsp;<U>Binding Effect</U>. Except as otherwise set forth in this Order, on the date of and after entry of this Order,
subject to the occurrence of the Effective Date, the Plan, the Plan Supplement and this Order shall bind the Debtors, their Estates, any party seeking to act on behalf of, or in respect of, the Debtors or the Estates, and any holder of a Claim
against or Interest in the Debtors and their respective successors and assigns, whether or not any such holders (a)&nbsp;are Impaired or Unimpaired under the Plan, (b)&nbsp;are deemed to accept or reject the Plan, (c)&nbsp;failed to vote to accept
or reject the Plan, (d)&nbsp;voted to reject the Plan, (e)&nbsp;are entitled to a distribution under the Plan, or (f)&nbsp;will receive or retain any property or interests in property under the Plan. Notwithstanding anything to the contrary in this
Plan, the Plan Documents, or this Order, until an Unimpaired Allowed Claim that arises prior to the Effective Date has been (w)&nbsp;paid in full in accordance with applicable law, (x)&nbsp;paid in full or otherwise satisfied under the
</P>
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governing documents giving rise to the Claim, (y)&nbsp;paid in full or otherwise satisfied pursuant to terms agreed to between the holder of such Claim and the Debtor or Reorganized Debtor or in
accordance with the terms and conditions of the particular transaction giving rise to such Claim, or (z)&nbsp;otherwise satisfied or disposed of as determined by a court of competent jurisdiction, the provisions of Sections 6.2, 6.10, 6.11, 6.12,
10.3, 10.4, 10.5, and 10.6(b) of the Plan shall not apply or take effect with respect to such Claim. The Plan and the Plan Documents constitute legal, valid, binding, and authorized obligations of the respective parties thereto and shall be
enforceable in accordance with their terms. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">10.&nbsp;&nbsp;&nbsp;&nbsp;<U>Free and Clear</U>. On the Effective Date, pursuant to sections
1141(b) and 1141(c) of the Bankruptcy Code, and except as otherwise specifically provided in the Plan, this Order, or in any contract, instrument, or other agreement or document created pursuant to the Plan, including the Plan Documents, all
property of the Estates shall vest in the Reorganized Debtors free and clear of all Claims, Liens, Causes of Action, encumbrances, charges, and other interests. On and after the Effective Date, the Reorganized Debtors may take any action, including,
without limitation, the operation of their business, the use, acquisition, sale, lease, and disposition of property and the entry into transactions, agreements, understandings, or arrangements, whether in or other than in the ordinary course of
business, and execute, deliver, implement, and fully perform any and all obligations, instruments, documents, and papers or otherwise in connection with any of the foregoing, free of any restrictions of the Bankruptcy Code or Bankruptcy Rules and in
all respects as if there were no pending cases under any chapter or provision of the Bankruptcy Code, except as expressly provided in this Order or the Plan. Without limiting the foregoing, the Reorganized Debtors may pay the charges that they incur
on </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


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or after the Effective Date for professional fees, disbursements, expenses, or related support services without application to, or approval of, the Bankruptcy Court. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">11.&nbsp;&nbsp;&nbsp;&nbsp;<U>Implementation of Plan</U>. The Plan Documents are hereby approved. The Plan Documents and all other relevant
and necessary documents have been negotiated in good faith and at arm&#146;s length, are in the best interests of the Debtors, and shall, upon completion of documentation and execution, be valid, binding, and enforceable documents and agreements not
in conflict with any federal, state, or local law. The Debtors are authorized to take any action reasonably necessary or appropriate to consummate such agreements and the transactions contemplated thereby. On or as soon as practicable after the
Effective Date, but to the extent taken on or prior to the Effective Date, with the consent of the Tidewater Lender and Noteholder Group, such consent not to be unreasonably withheld, the Reorganized Debtors shall be authorized to take such actions
as may be or become necessary or appropriate to effect any transaction described in, approved by, contemplated by, or necessary to effectuate the Plan and the Plan Supplement, including (a)&nbsp;the execution and delivery of appropriate agreements
or other documents of merger, consolidation, restructuring, financing, conversion, disposition, transfer, dissolution, or liquidation containing terms that are consistent with the terms of the Plan and the Plan Supplement and that satisfy the
applicable requirements of applicable law and any other terms to which the applicable Entities may agree, (b)&nbsp;the execution and delivery of appropriate instruments of transfer, assignment, assumption, or delegation of any asset, property,
right, liability, debt, or obligation on terms consistent with the terms of the Plan and the Plan Supplement and having other terms to which the applicable Entities agree, (c)&nbsp;the filing of appropriate certificates or articles of incorporation,
reincorporation, merger, consolidation, conversion, or dissolution and the Amended Organizational Documents pursuant to applicable </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


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state law, (d)&nbsp;the issuance of securities, all of which shall be authorized and approved in all respects in each case without further action being required under applicable law, regulation,
order, or rule, and (e)&nbsp;all other actions that the applicable Entities determine to be necessary or appropriate, including making filings or recordings that may be required by applicable law, subject, in each case, to the Amended Organizational
Documents. For purposes of effectuating the Plan, none of the transactions contemplated by Section&nbsp;5.8 of the Plan shall constitute a change in control under any agreement, contract, or document of the Debtors (other than with respect to the
CIC Agreements, in which case the terms of the applicable CIC Waiver Letters shall govern). Each officer, member of the board of directors, or manager of the Debtors is (and each officer, member of the board of directors, or manager of the
Reorganized Debtors shall be) authorized and directed to issue, execute, deliver, file, or record such contracts, securities, instruments, releases, indentures, and other agreements or documents and take such actions as may be necessary or
appropriate to effectuate, implement, and further evidence the terms and conditions of the Plan, the Plan Supplement, and the securities issued pursuant to the Plan in the name of and on behalf of the Reorganized Debtors, all of which shall be
authorized and approved in all respects, in each case, without the need for any approvals, authorization, consents, or any further action required under applicable law, regulation, order, or rule (including, without limitation, any action by the
stockholders, directors, or managers of the Debtors or the Reorganized Debtors). All matters provided for in the Plan or the Plan Supplement involving the corporate or limited liability company structure of the Debtors or the Reorganized Debtors,
and any corporate, limited liability company, or related action required by the Debtors or Reorganized Debtors in connection herewith shall be deemed to have occurred and shall be in effect, without any requirement of further action by the
stockholders, members, directors, or </P>
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managers of the Debtors or Reorganized Debtors, and with like effect as though such action had been taken unanimously by the stockholders, members, directors, managers, or officers, as
applicable, of the Debtors or Reorganized Debtors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">12.&nbsp;&nbsp;&nbsp;&nbsp;<U>Amended Organizational Documents and Registration Rights
Agreement Approved</U>. The Amended Organizational Documents and Registration Rights Agreement are hereby approved. The Debtors and the Reorganized Debtors, as applicable, are authorized, without further approval of the Bankruptcy Court or any other
party, to execute and deliver all agreements, documents, instruments, and certificates relating to the Amended Organizational Documents and the Registration Rights Agreement, and take such other actions as reasonably deemed necessary to perform
their obligations thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">13.&nbsp;&nbsp;&nbsp;&nbsp;<U>Designation of Directors and Officers Approved</U>. On the Effective Date,
the initial directors of the Reorganized Debtors shall consist of those individuals identified in the Plan Supplement, and such directors shall be deemed elected and authorized to serve as directors of each of the Reorganized Debtors pursuant to the
terms of the applicable Amended Organizational Documents of such Reorganized Debtor. Such appointment and designation is hereby approved and ratified as being in the best interests of the Debtors and creditors and consistent with public policy, and
such directors hereby are deemed elected and appointed to serve in their respective capacities as of the Effective Date without further action of the Bankruptcy Court, the Reorganized Debtors, or their security holders. Except as otherwise provided
in the Plan Supplement, the officers of the respective Reorganized Debtors immediately before the Effective Date, as applicable, shall serve as the initial officers of each of the respective Reorganized Debtors on and after the Effective Date and in
accordance with Section&nbsp;5.12 of the Plan and applicable nonbankruptcy law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">14.&nbsp;&nbsp;&nbsp;&nbsp;<U>New Secured Notes Approved</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">a.&nbsp;&nbsp;&nbsp;&nbsp;On the Effective Date, Reorganized Tidewater Parent and the other Reorganized Debtors that are guarantors shall
execute and deliver, as applicable, the New Secured Notes Documents, including the New Indenture, and all related documents, including the New Secured Notes. All such documents (including the schedules thereto) are incorporated in the Plan and this
Order by reference, and shall become effective in accordance with their terms and the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">b.&nbsp;&nbsp;&nbsp;&nbsp;The Bankruptcy
Court hereby (i)&nbsp;approves the New Secured Notes, New Secured Notes Documents, including the New Indenture, and all transactions contemplated thereby and therein, including all actions to be taken, all undertakings to be made, and obligations to
be incurred by the Reorganized Debtors in connection therewith, including the payment of all fees, indemnities, and expenses provided for by the New Secured Notes Documents (including fees and expenses of the New Indenture Trustee),
(ii)&nbsp;approves the granting of Liens and security interests securing the obligations under the New Indenture in favor of the lenders thereunder, and (iii)&nbsp;authorizes the Reorganized Debtors, without further notice to or action, order, or
approval of this Bankruptcy Court and without the need for any further corporate or shareholder action, to enter into and execute the New Secured Notes Documents and such other documents as may be required to effectuate the treatment afforded to the
lenders under the New Indenture, including any and all documents that serve to evidence and secure the Reorganized Debtors&#146; respective obligations under the New Indenture and any liens and security interests in favor of the lenders under the
New Indenture, and fully perform their obligations under the New Secured Notes Documents. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">c.&nbsp;&nbsp;&nbsp;&nbsp;On the Effective Date, (i)&nbsp;the Reorganized Debtors are authorized
to execute and deliver the New Indenture and any and all security agreements, guarantees, mortgages, or extensions of mortgages, certificates, control agreements, insurance documents, opinions, and other instruments, agreements, assignments, and
documents contemplated or required by the New Indenture, including any and all such documents that serve to evidence and secure the Reorganized Debtors&#146; respective obligations under the New Indenture and any Liens and security interests in
favor of the lenders under the New Indenture securing such obligations, and perform their obligations thereunder including the payment or reimbursement of any fees, expenses, losses, damages, or indemnities, and (ii)&nbsp;subject to, and upon the
occurrence of the Effective Date, the New Indenture as and when executed and delivered in accordance with the terms of the New Indenture, and any and all security agreements, guarantees, mortgages or extensions of mortgages, certificates, control
agreements, insurance documents, opinions, and other instruments, agreements, assignments, and documents contemplated or required by the New Indenture, including any and all such documents that serve to evidence and secure the Reorganized
Debtors&#146; respective obligations under the New Indenture and any Liens and security interests in favor of the lenders under the New Indenture securing such obligations, shall constitute the legal, valid, and binding obligations of the
Reorganized Debtors and be enforceable in accordance with their respective terms. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">d.&nbsp;&nbsp;&nbsp;&nbsp;Subject to, and upon the
occurrence of the Effective Date, the New Secured Notes Documents shall constitute legal, valid, binding, and authorized debt obligations of each of the Reorganized Debtors, and the terms and provisions set forth in the New Secured Notes Documents
shall be enforceable in accordance with their terms. On the Effective Date, all of the Liens and security interests to be granted pursuant to the New Secured Notes Documents </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


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shall be (i)&nbsp;deemed to be approved, (ii)&nbsp;legal, valid, binding, and enforceable Liens on, and security interests in, the collateral granted thereunder in accordance with the terms of
the New Secured Notes Documents and with the priorities established in respect thereof under applicable nonbankruptcy law, and (iii)&nbsp;deemed perfected on the Effective Date, subject only to such Liens and security interests as may be permitted
under the New Secured Notes Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">e.&nbsp;&nbsp;&nbsp;&nbsp;The New Secured Notes Documents shall be deemed to have been entered
into in good faith, for legitimate business purposes, are reasonable, shall not be subject to challenge, recharacterization or subordination (including equitable subordination) or avoidance for any purpose whatsoever and shall not constitute
preferential transfers, fraudulent conveyances, fraudulent transfers, or other voidable transfers under the Bankruptcy Code or any other applicable nonbankruptcy law. Notwithstanding anything to the contrary in this Order or the Plan, the Bankruptcy
Court&#146;s retention of jurisdiction shall not govern the enforcement of the New Secured Notes Documents or any other documents executed in connection with the New Indenture or any rights or remedies related thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">15.&nbsp;&nbsp;&nbsp;&nbsp;<U>Issuance of New Warrants and New Common Stock Approved</U>. On the Effective Date, Reorganized Tidewater Parent
is authorized to issue or cause to be issued and shall issue the New Common Stock and the New Warrants in accordance with the terms of the Plan without the need for any further corporate action. All of the New Common Stock and the New Warrants
issuable under the Plan, when so issued, shall be duly authorized, validly issued, and, in the case of the New Common Stock, fully paid and <FONT STYLE="white-space:nowrap">non-assessable.</FONT> In no event shall
<FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Citizens in the aggregate own more than <FONT STYLE="white-space:nowrap">twenty-two</FONT> percent (22%) of the total number of shares of New Common Stock to be outstanding on the Effective Date. All
of the New Common Stock underlying the New Warrants (upon payment of the exercise price in accordance </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


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with the terms thereof) issued pursuant to the Plan shall be duly authorized, validly issued, fully paid, and <FONT STYLE="white-space:nowrap">non-assessable.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">16.&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance with Section</U><U></U><U>&nbsp;1123(a)(6) of Bankruptcy Code</U>. The adoption and filing of the
Amended Organizational Documents are hereby authorized, ratified, and approved. The Debtors have complied in all respects, to the extent necessary, with section&nbsp;1123(a)(6) of the Bankruptcy Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">17.&nbsp;&nbsp;&nbsp;&nbsp;<U>Exemption from Securities Laws</U>. The offer, issuance, and distribution of the New Warrants (and the New
Common Stock issuable upon exercise thereof), the New Common Stock, and the New Secured Notes to holders of Allowed General Unsecured Claims and holders of Allowed Existing Interests, as applicable, under Article IV of the Plan shall be exempt,
pursuant to section 1145 of the Bankruptcy Code, without further act or action by any Entity, from registration under (a)&nbsp;the Securities Act, as amended, and all rules and regulations promulgated thereunder and (b)&nbsp;any state or local law
requiring registration for the offer, issuance, or distribution of securities. The New Common Stock, the New Secured Notes, and the New Warrants (and the New Common Stock issuable upon exercise thereof) shall be freely tradable by the recipients
thereof, subject to (a)&nbsp;the provisions of section 1145(b)(1) of the Bankruptcy Code relating to the definition of an underwriter in section 2(a)(11) of the Securities Act; (b)&nbsp;compliance with any rules and regulations of the Securities and
Exchange Commission, if any, applicable at the time of any future transfer of such securities or instruments; (c)&nbsp;the restrictions, if any, on the transferability of such securities and instruments, including, without limitation, any
restrictions on the transferability under the terms of the Amended Organizational Documents and the New Warrants; and (d)&nbsp;any applicable regulatory approval. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">18.&nbsp;&nbsp;&nbsp;&nbsp;<U>Exemption from Transfer Taxes</U>. To the fullest extent permitted
by applicable law, the issuance, transfer, or exchange of any security or other property under the Plan, as well as all sale transactions consummated by the Debtors and approved by the Bankruptcy Court on and after the Confirmation Date through and
including the Effective Date, including any transfers effectuated under the Plan, shall constitute a &#147;transfer under a plan&#148; within the purview of section 1146 of the Bankruptcy Code and shall not be subject to any stamp, real estate
transfer, mortgage recording, or other similar tax. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">19.&nbsp;&nbsp;&nbsp;&nbsp;<U>Cancellation of Existing Securities and Agreements</U>.
Except for the purpose of evidencing a right to a distribution under the Plan and except as otherwise set forth in the Plan, including with respect to executory contracts or unexpired leases that shall be assumed by the Reorganized Debtors, on the
Effective Date, all agreements, instruments, and other documents evidencing any Claim or Interest (other than Intercompany Interests that are not modified by the Plan) and any rights of any holder in respect thereof shall be deemed cancelled,
discharged, and of no force or effect and the obligations of the Debtors thereunder shall be deemed fully satisfied, released, and discharged. Notwithstanding such cancellation and discharge, (a)&nbsp;the Troms Credit Agreement shall continue in
effect and (b)&nbsp;the Credit Agreement and Note Purchase Agreements shall continue in effect solely to (i)&nbsp;the extent necessary, to allow the holders of Allowed Credit Agreement Claims and Allowed Notes Claims to receive distributions under
the Plan, (ii)&nbsp;the extent necessary, to allow the Debtors, Reorganized Debtors, and/or the Disbursing Agent to make post-Effective Date distributions or take such other action pursuant to the Plan on account of the Allowed Credit Agreement
Claims and the Allowed Notes Claims and to otherwise exercise their rights and discharge their obligations relating to the interests of the holders of such Claims, and (iii)&nbsp;permit counsel to the Credit Agreement Agent
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>


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and counsel to the Unofficial Noteholder Committee to appear in the Chapter 11 Cases, <I>provided</I>, that all expense reimbursement obligations of the Debtors arising under<I> </I>(x)&nbsp;the
Note Purchase Agreements in favor of the Noteholders or (y)&nbsp;the Credit Agreement in favor of the Credit Agreement Agent and/or the Tidewater Lenders, or in each case, their respective directors, officers,<I> </I>employees, agents, affiliates,
controlling persons, and legal and financial advisors, shall survive, remain<I> </I>in full force and effect, and be enforceable against the Reorganized Debtors on and after the Effective<I> </I>Date; <I>provided</I>, that except to the extent
provided in clauses (a)&nbsp;and (b) above, nothing in Section&nbsp;5.4 of the Plan shall affect the discharge of Claims pursuant to the Bankruptcy Code, this Order,<I> </I>or the Plan, or result in any liability or expense to the Reorganized
Debtors. Notwithstanding the<I> </I>foregoing, any provision in any document, instrument, lease, or other agreement that causes or<I> </I>effectuates, or purports to cause or effectuate, a default, termination, waiver, or other forfeiture of, or
by,<I> </I>the Debtors or their interests, as a result of the cancellations, terminations, satisfaction, releases, or<I> </I>discharges provided for in Section&nbsp;5.4 of the Plan shall be deemed null and void and shall be of no force and<I>
</I>effect. Nothing contained in this Order shall be deemed to cancel, terminate, release, or discharge the obligation<I> </I>of the Debtors or any of their counterparties under any executory contract or lease to the extent such<I> </I>executory
contract or lease has been assumed by the Debtors pursuant to a Final Order of the Bankruptcy<I> </I>Court or this Order. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">20.&nbsp;&nbsp;&nbsp;&nbsp;<U>Cancellation of Liens</U>. Upon the payment or other satisfaction of an Allowed Secured Claim, the holder of
such Allowed Secured Claim shall deliver to the Debtors or Reorganized Debtors (as applicable) any collateral or other property of the Debtors held by such holder, and any termination statements, instruments of satisfaction, or releases of all
security interests with respect to its Allowed Secured Claim that may be required in order to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


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terminate any related financing statements, mortgages, mechanic&#146;s liens, or <I>lis</I><I> </I><I>pendens</I>, or other similar interests or documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">21.&nbsp;&nbsp;&nbsp;&nbsp;<U>Subordination</U>. Except as otherwise expressly provided in the Plan, this Order, or a separate order of the
Bankruptcy Court, the allowance, classification and treatment of all Allowed Claims and Interests and the respective distributions and treatments under the Plan take into account and conform to the relative priority and rights of the Claims and
Interests in each Class&nbsp;in connection with any contractual, legal, and equitable subordination rights relating thereto, whether arising under general principles of equitable subordination, section 510 of the Bankruptcy Code, or otherwise.
Pursuant to section 510 of the Bankruptcy Code, the Debtors&#146; rights are reserved to <FONT STYLE="white-space:nowrap">re-classify</FONT> any Allowed Claim or Interest in accordance with any contractual, legal, or equitable subordination relating
thereto. All subordination rights that a holder of a Claim or Interest may have with respect to any distribution to be made under the Plan shall be discharged and terminated and all actions related to the enforcement of such subordination rights
shall be enjoined permanently. Accordingly, the distributions under the Plan to the holders of Allowed Claims will not be subject to payment of a beneficiary of such subordination rights, or to levy, garnishment, attachment, or other legal process
by a beneficiary of such terminated subordination rights. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">22.&nbsp;&nbsp;&nbsp;&nbsp;<U>Assumption of Contracts and Leases</U>. Pursuant
to Article VIII of the Plan, as of and subject to the occurrence of the Effective Date and the payment of any applicable Cure amount, all executory contracts and unexpired leases to which any of the Debtors are a party, and which have not expired by
their own terms on or prior to the Confirmation Date, including Employment Agreements, shall be deemed assumed except for any executory contract or unexpired lease that (a)&nbsp;previously has been assumed or rejected pursuant to a Final Order of
the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>


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Bankruptcy Court, (b)&nbsp;is the subject of a separate motion filed by the Debtors under section 365 of the Bankruptcy Code before the Confirmation Date for assumption or rejection, or
(c)&nbsp;is the subject of a pending Assumption Dispute. Subject to the occurrence of the Effective Date, entry of this Order by the Bankruptcy Court shall constitute approval of the assumptions provided for in the Plan pursuant to sections 365(a)
and 1123 of the Bankruptcy Code, and all objections, if any, are overruled. Each executory contract and unexpired lease assumed pursuant to the Plan shall vest in and be fully enforceable by the applicable Reorganized Debtor in accordance with its
terms, except as modified by the provisions of the Plan, any order of the Bankruptcy Court authorizing and providing for its assumption, or applicable law. Nothing herein or in the Plan shall or is intended to be contrary to or otherwise
inconsistent with the Rejection Orders or any Final Order pertaining to any Sale Leaseback Agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">23.&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice of Assumption.</U> On May&nbsp;22, 2017, the Debtors filed and served the <I>Notice of Assumption of
Executory Contracts and Unexpired Leases of Debtors and Related Procedures</I> (the &#147;<B>Assumption Notice</B>&#148;) (Docket No.&nbsp;120), which set forth a <FONT STYLE="white-space:nowrap">non-exclusive</FONT> list of executory contracts and
unexpired leases reflecting the Debtors&#146; intention to assume certain contracts or unexpired leases in connection with the Plan. Pursuant to the Plan, all obligations or Cure amounts relating to executory contracts and unexpired leases shall be
paid in the ordinary course. Any counterparty to an executory contract or unexpired lease had ten (10)&nbsp;days from the service of an assumption notice to object to a proposed assumption. All counterparties who failed to object timely to a notice
of the proposed assumption shall be deemed to have assented to assumption of their contract or lease notwithstanding any provision thereof or applicable law that purports to (a)&nbsp;prohibit, restrict, or condition the transfer or assignment of
such contract or lease or require consent to assumption, transfer, or assignment thereof, (b)&nbsp;terminate or modify, </P>
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or permit the termination or modification of, a contract or lease as a result of any direct or indirect transfer or assignment of the rights of the Debtors under such contract or lease or a
change, if any, in the ownership or control to the extent contemplated by the Plan, (c)&nbsp;increase, accelerate, or otherwise alter any obligations or liabilities of the Debtors or the Reorganized Debtors under such executory contract or unexpired
lease, or (d)&nbsp;create or impose a Lien upon any property or asset of the Debtors or the Reorganized Debtors, as applicable. Each such provision shall be deemed to not apply to the assumption of such executory contract or unexpired lease pursuant
to the Plan, and counterparties to assumed executory contracts or unexpired leases that fail to object to the proposed assumption in accordance with the terms set forth in Section&nbsp;8.2(c) of the Plan and the Assumption Notice shall forever be
barred and enjoined from objecting to the proposed assumption or to the validity of such assumption, or taking actions prohibited by the foregoing on account of transactions contemplated by the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">24.&nbsp;&nbsp;&nbsp;&nbsp;<U>Reservation of Rights in Favor of United States Government</U>. Notwithstanding any provision in the Plan, this
Order, or the Plan Documents, nothing discharges or releases the Debtors, the Reorganized Debtors, or any <FONT STYLE="white-space:nowrap">non-Debtor</FONT> from any claim, liability, or cause of action of any Governmental Unit or impairs the
ability of any Governmental Unit to pursue any claim, liability, or cause of action against any Debtor, Reorganized Debtor, or <FONT STYLE="white-space:nowrap">non-Debtor.</FONT> Contracts, leases, covenants, operating rights agreements, or other
interests or agreements with any Governmental Unit shall be paid, treated, determined, and administered in the ordinary course of business as if these Chapter 11 Cases were never filed and the Debtors and Reorganized Debtors shall comply with all
applicable nonbankruptcy law. All claims, liabilities, or causes of action of or to any Governmental Unit shall survive these Chapter 11 Cases as if these Chapter 11 Cases had not been commenced and shall be determined in the ordinary course
</P>
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of business, including in the manner and by the administrative or judicial tribunals in which such rights or claims would have been resolved or adjudicated if these Chapter 11 Cases had not been
commenced. Without limiting the foregoing, for the avoidance of doubt: (a)&nbsp;Governmental Units shall not be required to file any proof of claim in these Chapter 11 Cases in order to be paid on account of any claim, liability, or cause of action;
(b)&nbsp;nothing shall affect or impair the exercise of any Governmental Unit&#146;s police and regulatory powers against the Debtors and/or the Reorganized Debtors; (c)&nbsp;nothing shall be interpreted to set cure amounts or to require any
Governmental Unit to novate or otherwise consent to the transfer of any federal or state interests; (d)&nbsp;nothing shall affect or impair any Governmental Unit&#146;s rights to assert setoff and recoupment against the Debtors and/or the
Reorganized Debtors and such rights are expressly preserved and (e)&nbsp;nothing shall constitute an approval or consent by the United States without compliance with all applicable legal requirements and approvals under <FONT
STYLE="white-space:nowrap">non-bankruptcy</FONT> law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">25.&nbsp;&nbsp;&nbsp;&nbsp;<U>Reservation of Rights in Favor of Liberty Mutual
Insurance Company and Safeco Insurance Company of America</U>. Notwithstanding anything in the Plan or this Order to the contrary: (a)&nbsp;the Debtors and Reorganized Debtors hereby affirm and ratify, in all respects, that certain General Agreement
of Indemnity (the &#147;<B>Indemnity Agreement</B>&#148;), dated June&nbsp;23, 2003, executed by Debtors Tidewater Inc. and Quality Shipyards, L.L.C., on their own behalves and for any entities for which Tidewater Inc. has requested or requests a
bond, as indemnitors and principals (a &#147;<B>Bond</B>&#148; or &#147;<B>Bonds</B>&#148;), in favor of Liberty Mutual Insurance Company and its affiliate, Safeco Insurance Company of America (collectively herein, the &#147;<B>Surety</B>&#148;);
and (b)&nbsp;the discharge or release of any Claim under the Plan or this Order, including under Article X of the Plan, shall not release, discharge, preclude, or enjoin any obligation of any of the Debtors (prior to the Effective Date) or the
Reorganized Debtors (on and after the Effective Date) to the Surety </P>
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under the Indemnity Agreement, any Bonds, or the common law of suretyship. The Debtors further acknowledge and confirm that nothing in the Plan or this Order shall be deemed to impair
Surety&#146;s subrogation rights, if any, against any and all <FONT STYLE="white-space:nowrap">non-Debtors.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">26.&nbsp;&nbsp;&nbsp;&nbsp;<U>Gulf Island Arbitration</U>. Notwithstanding anything in the Plan, the Plan Supplement, or this Order to the
contrary (including any exhibits, attachments or other documents referenced in, or incorporated into, the Plan, the Plan Supplement, or this Order), (a) any and all legal and equitable rights, claims, defenses, security interests, liens and
privileges of any kind whatsoever of Gulf Island Shipyards, LLC (&#147;<B>Gulf Island</B>&#148;) against or relating to any of the Debtors, the Gulf Island Contracts (as defined below), or the Vessels (as defined below) (collectively, &#147;<B>Gulf
Island Claims</B>&#148;), whether secured or unsecured, contingent or matured, liquidated or unliquidated, including but not limited to rights, claims, defenses, security interests, liens and privileges under or relating to (i)&nbsp;the Vessel
Construction Contract for Hull No.&nbsp;367 (the &#147;<B>POTTER TIDE</B>&#148;), as amended from time to time (the &#147;<B>POTTER TIDE Contract</B>&#148;), and (ii)&nbsp;the Vessel Construction Contract for Hull No.&nbsp;368 (the &#147;<B>YOUNGS
TIDE</B>&#148; and together with the POTTER TIDE, the &#147;<B>Vessels</B>&#148;), as amended from time to time (the &#147;<B>YOUNGS TIDE Contract</B>&#148; and together with the POTTER TIDE Contract, the &#147;<B>Gulf Island Contracts</B>&#148;),
are fully preserved and shall pass through these Chapter 11 Cases unaffected and unimpaired by the Plan, the Plan Supplement, or this Order; (b)&nbsp;Gulf Island is hereby granted immediate relief from the automatic stay pursuant to section 362(d)
of the Bankruptcy Code, and immediate relief from any injunctive provisions of this Order, the Plan, or the Plan Supplement, to proceed in all respects with (i)&nbsp;arbitration before the Houston Maritime Arbitrators Association against Tidewater
Marine, L.L.C. (&#147;<B>Tidewater Marine</B>&#148;) for Gulf Island Claims, subject to all of the Debtors&#146; respective claims, defenses and objections to such Gulf Island Claims, and (ii)&nbsp;upon the
</P>
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occurrence of the Effective Date, any other act, action or proceeding relating to any Gulf Island Claims, subject to all of the Debtors&#146; respective claims, defenses and objections to such
other Gulf Island Claims; and (c)&nbsp;the Debtors shall assume the Gulf Island Contracts pursuant to section 365 of the Bankruptcy Code, subject to any and all Gulf Island Claims (whether or not such claims could be construed as &#147;Cure
Amounts&#148; as defined in the Plan), which assumption is hereby approved. Without limiting any of the foregoing provisions of this paragraph, none of the provisions of Sections 7.2, 8.2(c)(iv), 8.3 (second sentence only), 10.3, 10.5, or 10.6(b) of
the Plan shall apply to Gulf Island, the Gulf Island Claims or the Gulf Island Contracts, and nothing in the Plan, the Plan Supplement, or this Order shall effect a satisfaction, waiver, relinquishment or release of any Gulf Island Claims or a
determination of any defaults under the Gulf Island Contracts. The stay of Bankruptcy Rule 4001(a)(3) is waived and shall not be applicable to the relief granted in this paragraph. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">27.&nbsp;&nbsp;&nbsp;&nbsp;<U>BBVA Sale Leaseback Claims</U>. Notwithstanding anything to the contrary in the Disclosure Statement, the Plan,
the Plan Supplement, the other Plan Documents, this Order or any other Final Order of the Bankruptcy Court, or otherwise, the Sale Leaseback Claims of BBVA Compass Financial Corporation (&#147;<B>BBVA</B>&#148;) and any and all claims,
counterclaims, rights, and causes of action of any nature, guarantee claims, and legal and equitable claims of BBVA arising from or related to the Sale Leaseback Claims of BBVA (collectively with the Sale Leaseback Claims of BBVA, the &#147;<B>BBVA
Claims</B>&#148;) are fully preserved; <I>provided</I>, that the BBVA Claims shall be adjudicated subject to the terms and conditions of the Sale Leaseback Order, the <I>Consent Order Establishing Schedule for Discovery and Determination of
Debtors</I><I>&#146;</I><I> Objections to Lessors</I><I>&#146;</I><I> Damages Claims</I> (Docket No.&nbsp;217) and any subsequent order of the Court related </P>
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thereto, and any Allowed BBVA Claims shall be treated and satisfied in accordance with Section&nbsp;4.3 of the Plan and the Sale Leaseback Order. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">28.&nbsp;&nbsp;&nbsp;&nbsp;<U>LEEVAC Arbitration</U>. Notwithstanding anything to the contrary in the Disclosure Statement, the Plan, the Plan
Supplement, the other Plan Documents, this Order, or any other Final Order of the Bankruptcy Court, or otherwise, nothing herein or therein shall affect the claims, counterclaims, rights, claims of setoff or recoupment, claim to escrow funds, causes
of action, defenses and remedies of any nature whatsoever of LEEVAC Shipyards Jennings LLC (&#147;<B>LEEVAC</B>&#148;), all of which shall be treated, as applicable, as Secured Claims or Other General Unsecured Claims under Sections 4.2 or 4.4 of
the Plan, including, without limitation, all of LEEVAC&#146;s rights in respect of legal and equitable claims and defenses, setoffs, recoupments, and payments, and the claims, counterclaims, rights, claims of setoff or recoupment, claim to escrow
funds, causes of action, defenses, and remedies of LEEVAC and Tidewater Marine, as applicable, in the arbitration pending in New Orleans, Louisiana under the Rules of the Houston Maritime Arbitrators Association captioned <I>Tidewater Marine, L.L.C.
v. LEEVAC Shipyards Jennings, LLC</I> are preserved, including all rights under applicable law to enforce any arbitration award rendered in favor of LEEVAC or Tidewater Marine, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">29.&nbsp;&nbsp;&nbsp;&nbsp;<U>Ongoing Litigation and Administrative Proceedings</U>. Notwithstanding anything to the contrary in this Order,
the Plan, the Plan Supplement, or the Plan Documents, each litigation or administrative proceeding against the Debtors or Reorganized Debtors, that was commenced against the Debtors prior to the Confirmation Date (including, without limitation, any
Claim covered by insurance policies, but excluding the Sale Leaseback Claims<SUP STYLE="font-size:85%; vertical-align:top">3</SUP>), </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">3</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">For the avoidance of doubt, the term &#147;Sale Leaseback Claims&#148; includes any guaranty Claim held by a
party arising from or related to a Sale Leaseback Agreement. </P></TD></TR></TABLE>
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shall survive these Chapter 11 Cases as if the Chapter 11 Cases had not been commenced and continue in the ordinary course in the forum where such proceeding has been or could have been brought
had these Chapter 11 Cases not been commenced, and the insurance carriers may administer, handle, defend, settle, and/or pay such Claims and use and apply any or all of the collateral provided by or on behalf of the Debtors (or the Reorganized
Debtors, as applicable) in the ordinary course of business subject to the terms of the insurance policies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">30.&nbsp;&nbsp;&nbsp;&nbsp;<U>Return of Deposits</U>. All utilities, including any Person who received a deposit or other form of
&#147;adequate assurance&#148; of performance pursuant to section 366 of the Bankruptcy Code during the Chapter 11 Cases (collectively, the &#147;<B>Deposits</B>&#148;), whether pursuant to the <I>Final Order Pursuant to 11 U.S.C. &#167;&#167; 366
and 105(a)</I><I></I><I>&nbsp;(I) Approving Debtors&#146; Proposed Form of Adequate Assurance of Payment to Utility Providers, (II)</I><I></I><I>&nbsp;Establishing Procedures for Resolving Objections by Utility Providers, and
(III)</I><I></I><I>&nbsp;Prohibiting Utility Providers from Altering, Refusing or Discontinuing Service</I> (Docket No.&nbsp;221) (the &#147;<B>Final Utilities Order</B>&#148;) or otherwise, including, gas, electric, telephone, data, cable, trash,
and sewer services, are directed, subject to the terms of the Final Utilities Order to the extent applicable, to return such Deposits to the Reorganized Debtors, either by setoff against postpetition indebtedness or by Cash refund, within fifteen
(15)&nbsp;days following service of the Notice of Effective Date (defined below). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">31.&nbsp;&nbsp;&nbsp;&nbsp;<U>Compromise and Settlement
of Claims, Interests, and Controversies</U>. The provisions of the Plan shall, upon the Effective Date, constitute a good faith compromise and settlement among the Debtors and the Consenting Creditors of numerous disputes from or related to
(a)&nbsp;the Notes Claims, (b)&nbsp;the Credit Agreement Claims, and (c)&nbsp;the treatment of, and distribution to, holders of Tidewater Parent Interests. Furthermore, with regard to the holders of Sale Leaseback Claims, the Plan implements the
settlements set forth in the <I>Order Approving </I> </P>
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<I>Stipulation Among the Debtors and Lessors Related to Sale Leaseback Agreements</I> (Docket No.&nbsp;129) (&#147;<B>Sale Leaseback Order</B>&#148;). This Order shall constitute the Bankruptcy
Court&#146;s approval of the compromises and settlements of all such Claims, Interests, and controversies, and the findings herein shall constitute the Bankruptcy Court&#146;s determination that such compromises and settlements are in the best
interests of the Debtors, the Estates, holders of such Claims and Interests, and other parties in interest, and are fair, equitable, and within the range of reasonableness. The provisions of the Plan, including, without limitation, its release,
injunction, exculpation, and compromise provisions, are mutually dependent and <FONT STYLE="white-space:nowrap">non-severable.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">32.&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions Precedent to Effective Date</U>. The Plan shall not become effective unless and until the conditions
set forth in Section&nbsp;9.2 of the Plan have been satisfied or waived pursuant to Section&nbsp;9.3 of the Plan. If the conditions specified in Section&nbsp;9.2 of the Plan are not satisfied or waived in accordance with Section&nbsp;9.3 of the Plan
on or before the first (1st) Business Day that is more than thirty (30)&nbsp;days after the date on which this Order is entered or by such later date as set forth by the Debtors, with the consent of the Requisite Consenting Noteholders and the
Requisite Consenting Tidewater Lenders, such consent not to be unreasonably withheld, in a notice filed with the Bankruptcy Court prior to the expiration of such period, the Plan shall be null and void in all respects and nothing contained in the
Plan or the Disclosure Statement shall (a)&nbsp;constitute a waiver or release of any Claims by or against or any Interests in the Debtors, (b)&nbsp;prejudice in any manner the rights of any Entity, or (c)&nbsp;constitute an admission,
acknowledgement, offer, or undertaking by the Debtors, any of the Consenting Creditors, or any other Entity. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">33.&nbsp;&nbsp;&nbsp;&nbsp;<U>Professional Compensation</U>. All Entities seeking awards by the Bankruptcy Court of compensation for services
rendered or reimbursement of expenses incurred </P>
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through and including the Effective Date under sections&nbsp;330, 331, 503(b)(2), 503(b)(3), 503(b)(4) or 503(b)(5) of the Bankruptcy Code shall file, on or before the date that is forty-five
(45)&nbsp;days after the Effective Date, their respective final applications for allowance of compensation for services rendered and reimbursement of expenses incurred. Objections to any Fee Claims must be filed and served on counsel to the
Reorganized Debtors, the U.S. Trustee, and the requesting party no later than <FONT STYLE="white-space:nowrap">twenty-one</FONT> (21)&nbsp;calendar days after the filing of the final applications for compensation or reimbursement (unless otherwise
agreed by the Debtors or the Reorganized Debtors, as applicable, and the party requesting compensation of a Fee Claim). Allowed Fee Claims shall be paid in full, in Cash, in such amounts as are Allowed by the Bankruptcy Court (i)&nbsp;upon the later
of (A)&nbsp;the Effective Date and (B)&nbsp;the date upon which a Final Order relating to any such Allowed Fee Claim is entered, in each case, as soon as reasonably practicable thereafter, or (ii)&nbsp;upon such other terms as may be mutually agreed
upon between the holder of such an Allowed Fee Claim and the Debtors or the Reorganized Debtors, as applicable, and solely with respect to agreements entered into on or prior to the Effective Date, with the consent of the Tidewater Lender and
Noteholder Group, which consent shall not be unreasonably withheld. Notwithstanding the foregoing, any Fee Claims that are authorized to be paid pursuant to any orders entered by the Bankruptcy Court may be paid at the times and in the amounts
authorized pursuant to such orders. The Reorganized Debtors are authorized to pay compensation for services rendered or reimbursement of expenses incurred after the Effective Date in the ordinary course and without the need for Bankruptcy Court
approval. On or about the Effective Date, holders of Fee Claims shall provide a reasonable estimate of such Fee Claims to (i)&nbsp;the Debtors or Reorganized Debtors, as applicable, and, in addition, (ii)&nbsp;solely with respect to estimates
provided on or prior to the Effective Date, to (A)&nbsp;counsel to the Consenting </P>
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Noteholders and (B)&nbsp;counsel to the Consenting Tidewater Lenders, and the Debtors or Reorganized Debtors, as applicable, shall separately reserve such estimated amounts for the benefit of the
holders of the Fee Claims until the fee applications related thereto are resolved by Final Order or agreement of the parties. If a holder of a Fee Claim does not provide an estimate, the Debtors or Reorganized Debtors, as applicable, may estimate
the unpaid and unbilled fees and expenses of such holder of a Fee Claim. When all such Allowed Fee Claims have been paid in full, any remaining amount in such reserve shall promptly be released from such reserve and revert to, and ownership thereof
shall vest in, the Reorganized Debtors without any further action or order of the Bankruptcy Court. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">34.&nbsp;&nbsp;&nbsp;&nbsp;<U>Disputed Claims Reserve</U>. On the Effective Date, the Disbursing Agent shall maintain the Disputed Claims
Reserve in accordance with the terms of the Plan and the Sale Leaseback Order. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">35.&nbsp;&nbsp;&nbsp;&nbsp;<U>Immediate Binding
Effect</U>. Pursuant to section 1141 of the Bankruptcy Code and the other applicable provisions of the Bankruptcy Code, on or after entry of this Order and subject to the occurrence of the Effective Date, the terms of the Plan, the Plan Supplement,
the other Plan Documents, and this Order shall be immediately effective and enforceable and shall bind the Reorganized Debtors, the Released Parties, the Exculpated Parties, all holders of Claims and Interests (irrespective of whether such Claims or
Interests are impaired under the Plan or whether the holders of such Claims or Interests accepted or are deemed to have accepted the Plan), any other person giving, acquiring, or receiving property under the Plan, any and all <FONT
STYLE="white-space:nowrap">non-Debtor</FONT> parties to executory contracts and unexpired leases with any of the Debtors, any other party in interest in the Chapter 11 Cases, and their respective heirs, executors, administrators, successors, or
assigns, if any, of the foregoing. On the Effective Date, all </P>
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settlements (including the Restructuring Support Agreement), compromises, releases (including, without limitation the releases set forth in Sections 10.5, 10.6 and 10.7 of the Plan), waivers,
discharges, exculpations, and injunctions set forth in the Plan shall be effective and binding on all Persons who may have had standing to assert any settled, compromised, released, waived, discharged, exculpated or enjoined Causes of Action after
the Effective Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">36.&nbsp;&nbsp;&nbsp;&nbsp;<U>Discharge of Claims and Termination of Interests</U>. Upon the Effective Date and in
consideration of the distributions to be made under the Plan, except as otherwise expressly provided in the Plan or this Order, each holder (as well as any representatives, trustees, or agents on behalf of each holder) of a Claim or Interest and any
affiliate of such holder shall be deemed to have forever waived, released, and discharged the Debtors, to the fullest extent permitted by section 1141 of the Bankruptcy Code, of and from any and all Claims, Interests, Causes of Action, rights, and
liabilities that arose prior to the Effective Date. Upon the Effective Date, all such Entities shall be forever precluded and enjoined, pursuant to section 524 of the Bankruptcy Code, from prosecuting or asserting any such discharged Claim against
or terminated Interest in the Debtors against any of the Debtors, Reorganized Debtors, or any of its or their assets or property, whether or not such holder has filed a proof of claim and whether or not the facts or legal bases therefor were known
or existed prior to the Effective Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">37.&nbsp;&nbsp;&nbsp;&nbsp;<U>Injunction, Release, and Exculpation Provisions</U>. All
injunctions, releases, and exculpation provisions set forth in the Plan, including but not limited to those contained in Sections&nbsp;6.5, 10.5, 10.6 and 10.7 of the Plan, are approved and shall be effective and binding on all persons and entities,
to the extent provided therein; <I>provided</I>, notwithstanding anything to the contrary in the Plan or this Order, from and after the Effective Date, the Disbursing Agent, solely in its capacity as Disbursing Agent and only with respect to acts in
conformity with its </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">55 </P>


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obligations under the Plan, shall be exculpated by all Entities, including, without limitation, holders of Claims against and Interests in the Debtors and other parties in interest, from any and
all Claims, Causes of Action, and other assertions of liability arising out of the discharge of the powers and duties conferred upon such Disbursing Agent by the Plan or any order of the Bankruptcy Court entered pursuant to or in furtherance of the
Plan, or applicable law, except for actions or omissions to act arising out of the gross negligence or willful misconduct, fraud, malpractice, criminal conduct, or <I>ultra vires</I> acts of such Disbursing Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">38.&nbsp;&nbsp;&nbsp;&nbsp;<U>Retention of Causes of Action/Reservation of Rights</U>. Except as otherwise provided in the Plan, including in
Sections 10.5, 10.6, and 10.7 of the Plan, nothing contained in the Plan or this Order shall be deemed to be a waiver or relinquishment of any rights, claims, Causes of Action, rights of setoff or recoupment, or other legal or equitable defenses
that the Debtors had immediately prior to the Effective Date on behalf of the Estates or of themselves in accordance with any provision of the Bankruptcy Code or any applicable nonbankruptcy law or any affirmative Causes of Action against parties
with a relationship with the Debtors. The Reorganized Debtors shall have, retain, reserve, and be entitled to assert all such claims, Causes of Action, rights of setoff or recoupment, and other legal or equitable defenses as fully as if the Chapter
11 Cases had not been commenced, and all of the Debtors&#146; legal and equitable rights in respect of any Unimpaired Claim may be asserted after the Confirmation Date and Effective Date to the same extent as if the Chapter 11 Cases had not been
commenced. Notwithstanding the foregoing, the Debtors and the Reorganized Debtors shall not retain any claims or Causes of Action released pursuant to Sections 10.5, 10.6, and 10.7 of the Plan against the Released Parties or arising under chapter 5
of the Bankruptcy Code (except that such claims or Causes of Action </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">56 </P>


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may be asserted as a defense pursuant to section 502(d) of the Bankruptcy Code or otherwise to a claim in connection with the claims reconciliation and objection procedures). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">39.&nbsp;&nbsp;&nbsp;&nbsp;<U>Terms of Injunctions or Stays</U>. Unless otherwise provided in the Plan, this Order or a Final Order of the
Bankruptcy Court, all injunctions or stays arising under or entered during the Chapter 11 Cases under sections 105 or 362 of the Bankruptcy Code, or otherwise, and in existence on the Confirmation Date, are hereby approved or confirmed and shall
remain in full force and effect until the later of the Effective Date or the date indicated in the order providing for such injunction or stay. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">40.&nbsp;&nbsp;&nbsp;&nbsp;<U>Injunction </U><U>Against</U><U> Interference with Plan</U>. Upon entry of this Order, all holders of Claims and
Interests and other parties in interest, along with their respective present or former employees, agents, officers, directors, principals, and affiliates, shall be enjoined from (i)&nbsp;commencing or continuing in any manner, whether directly,
derivatively or otherwise, any suit, action, or other proceeding, on account of, or in respect of, any Claim, demand, liability, obligation, debt, right suit, judgment, damages, Cause of Action, Interest or remedy whatsoever released or to be
released pursuant to the Plan or this Order, and (ii)&nbsp;taking any actions to interfere with the implementation or consummation of the Plan and the Definitive Documents. Except as expressly provided in the Plan, this Order, or a separate order of
the Bankruptcy Court or as agreed to by the Debtors and a holder of a Claim against or Interest in the Debtors, all Entities who have held, hold, or may hold Claims against or Interests in any or all of the Debtors (whether proof of such Claims or
Interests has been filed or not and whether or not such Entities vote in favor of, against, or abstain from voting on the Plan or are presumed to have accepted or deemed to have rejected the Plan) and other parties in interest, along with their
respective present or former employees, agents, officers, directors, principals, and affiliates are permanently </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">57 </P>


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enjoined, on and after the Effective Date, solely with respect to any Claims, Interests, and Causes of Action that will be or are extinguished, discharged, or released pursuant to the Plan from
(a)&nbsp;commencing, conducting, or continuing in any manner, directly or indirectly, any suit, action, or other proceeding of any kind (including, without limitation, any proceeding in a judicial, arbitral, administrative, or other forum) against
or affecting the Released Parties or the property of any of the Released Parties, (b)&nbsp;enforcing, levying, attaching (including, without limitation, any prejudgment attachment), collecting, or otherwise recovering by any manner or means, whether
directly or indirectly, any judgment, award, decree, or order against the Released Parties or the property of any of the Released Parties, (c)&nbsp;creating, perfecting, or otherwise enforcing in any manner, directly or indirectly, any encumbrance
of any kind against the Released Parties or the property of any of the Released Parties, (d)&nbsp;asserting any right of setoff, directly or indirectly, against any obligation due the Released Parties or the property of any of the Released Parties,
except as contemplated or allowed by the Plan, and (e)&nbsp;acting or proceeding in any manner, in any place whatsoever, that does not conform to or comply with the provisions of the Plan. By accepting distributions pursuant to the Plan, each holder
of an Allowed Claim or Interest shall be deemed to have affirmatively and specifically consented to be bound by the Plan, including, without limitation, the injunctions set forth in Section&nbsp;10.5 of the Plan. The injunctions in Section&nbsp;10.5
of the Plan shall extend to any successors of the Debtors and the Reorganized Debtors and their respective property and interests in property. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">41.&nbsp;&nbsp;&nbsp;&nbsp;<U>Survival of Debtors&#146; Indemnification Obligations</U>. Pursuant to Section&nbsp;8.5 of the Plan, subject to
the occurrence of the Effective Date, any obligations of the Debtors pursuant to their corporate charters, bylaws, limited liability company agreements, other organizational documents, or indemnification agreements to indemnify current and former
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">58 </P>


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officers, directors, managers, agents, and/or employees with respect to all present and future actions, suits, and proceedings against the Debtors or such directors, officers, managers, agents,
and/or employees, based upon any act or omission for or on behalf of the Debtors, shall not be discharged or impaired by confirmation of the Plan; <I>provided</I>,<I> </I>that the Reorganized Debtors shall not indemnify directors of the Debtors for
any Claims or Causes of Action arising out of or relating to any act or omission that constitutes intentional fraud, gross negligence, or willful misconduct. All such indemnification obligations shall be deemed and treated as executory contracts to
be assumed by the Debtors under the Plan and shall continue as obligations of the Reorganized Debtors. Any Claim based on the Debtors&#146; indemnification obligations, as described in Section&nbsp;8.5 of the Plan, shall not be a Disputed Claim or
subject to any objection in either case by reason of section 502(e)(1)(B) of the Bankruptcy Code. In addition, after the Effective Date, the Reorganized Debtors shall not terminate or otherwise reduce the coverage under any directors&#146; and
officers&#146; insurance policies (including any &#147;tail policy&#148;) in effect or purchased as of the Petition Date, and all members, managers, directors, and officers who served in such capacity at any time before the Effective Date shall be
entitled to the full benefits of any such policy for the full term of such policy regardless of whether such members, managers, directors, and/or officers remain in such positions after the Effective Date, in each case, to the extent set forth in
such policies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">42.&nbsp;&nbsp;&nbsp;&nbsp;<U>Insurance Policies</U>. All insurance policies pursuant to which any Debtor has any
obligations in effect as of the date of this Order shall be deemed and treated as executory contracts pursuant to the Plan and shall be assumed by the respective Debtors and Reorganized Debtors and shall continue in full force and effect thereafter
in accordance with their respective terms. All other insurance policies shall vest in the Reorganized Debtors. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">59 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">43.&nbsp;&nbsp;&nbsp;&nbsp;<U>Intellectual Property Licenses and Agreements</U>. All intellectual
property contracts, licenses, royalties, or other similar agreements to which the Debtors have any rights or obligations in effect as of the date of this Order shall be deemed and treated as executory contracts pursuant to the Plan and shall be
assumed by the respective Debtors and Reorganized Debtors and shall continue in full force and effect unless any such intellectual property contract, license, royalty, or other similar agreement otherwise is specifically rejected pursuant to a
separate order of the Bankruptcy Court or is the subject of a separate rejection motion filed by the Debtors in accordance with Section&nbsp;8.1 of the Plan. Unless otherwise noted under the Plan, all other intellectual property contracts, licenses,
royalties, or other similar agreements shall vest in the Reorganized Debtors, and the Reorganized Debtors may take all actions as may be necessary or appropriate to ensure such vesting as contemplated in the Plan. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">44.&nbsp;&nbsp;&nbsp;&nbsp;<U>Employee Matters</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">a.&nbsp;&nbsp;&nbsp;&nbsp;On the Effective Date, the Employment Arrangements shall be deemed to be, and shall be treated as, executory
contracts and the Reorganized Debtors shall be deemed to have assumed all such Employment Arrangements unless rejected pursuant to Article VIII of the Plan or by agreement of the Debtors and each affected employee. The consummation of the Plan shall
not be treated as a change in control or other similar transaction under any Employment Arrangements (other than to the extent provided otherwise in the CIC Agreements, in which case the terms of the applicable CIC Waiver Letters shall govern). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">b.&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in the Plan or in this Order, any Tidewater Parent Interests issued and
outstanding as of immediately prior to the Petition Date pursuant to a Benefit Plan that have not been subsequently forfeited (or agreed to be forfeited) by the holder thereof (either voluntarily or by operation of the terms of such Benefit Plan,
with </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">60 </P>


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effect as of any time on or prior to the Effective Date) shall be deemed to vest immediately prior to the Distribution Record Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">c.&nbsp;&nbsp;&nbsp;&nbsp;Upon the Effective Date, the Reorganized Debtors shall be deemed to have assumed the Tidewater Pension Plan (the
&#147;<B>Pension Plan</B>&#148;) and shall comply with all applicable statutory provisions of ERISA and the Internal Revenue Code (the &#147;<B>IRC</B>&#148;), including, but not limited to, satisfying the minimum funding standards pursuant to 26
U.S.C. &#167;&#167; 412, 430, and 29 U.S.C. &#167;&#167; 1082, 1083; paying the Pension Benefit Guaranty Corporation (&#147;<B>PBGC</B>&#148;) premiums in accordance with 29 U.S.C. &#167;&#167; 1306 and 1307; and administering the Pension Plan in
accordance with its terms and the provisions of ERISA and the IRC. In the event that the Pension Plan terminates after the Effective Date, the Reorganized Debtors and each of its controlled group members will be responsible for the liabilities
imposed by Title IV of ERISA. Nothing in the Plan or this Order shall be construed as (a)&nbsp;discharging or releasing the Debtors, their successors, including the Reorganized Debtors, or any party, in any capacity, from any liability imposed under
any law or regulatory provision with respect to the Pension Plan or PBGC or (b)&nbsp;enjoining the Pension Plan or PBGC from enforcing such liability under applicable law. Notwithstanding any provision of the Plan, this Order, or the Bankruptcy Code
(including section 1141 thereof) to the contrary, including but not limited to Sections 10.3&#150;10.7 of the Plan, nothing in the Plan, this Order, or the Bankruptcy Code will relieve, release, discharge, or exculpate the Debtors, the Reorganized
Debtors, the Released Parties, the Exculpated Parties, or any party in any capacity, from any liability or responsibility with respect to the Pension Plan under any law, governmental policy, or regulatory provision. PBGC and the Pension Plan shall
not be enjoined or precluded from enforcing such liability or responsibility by any of the provisions of the Plan, this Order, or the Bankruptcy Code. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">61 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">45.&nbsp;&nbsp;&nbsp;&nbsp;<U>Plan Implementation</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">a.&nbsp;&nbsp;&nbsp;&nbsp;The transactions described in the Plan, the Plan Supplement, the other Plan Documents, and this Order are hereby
approved. In accordance with section 1142 of the Bankruptcy Code and any provisions of the business corporation law of any applicable jurisdiction (collectively, the &#147;<B>Reorganization Effectuation Statutes</B>&#148;), without further action by
the Bankruptcy Court or the equity holders, members, managers, or directors of any Debtor or Reorganized Debtor, the Debtors and the Reorganized Debtors, as well as the officers of the appropriate Debtor or Reorganized Debtor are authorized to:
(i)&nbsp;take any and all actions necessary or appropriate to implement, effectuate, and consummate the Plan, the Plan Supplement, the other Plan Documents, the Definitive Documents, this Order, and the transactions contemplated thereby or hereby,
including, without limitation, the transactions identified in Article V of the Plan; and (ii)&nbsp;execute and deliver, adopt, or amend, as the case may be, any contracts, instruments, releases, agreements, and documents necessary to implement,
effectuate, and consummate the Plan and the Plan Supplement, including, without limitation, those contracts, instruments, releases, agreements, and documents identified in Article V of the Plan (including, without limitation, documents related to
the New Secured Notes Documents, the Certificate, the New Creditor Warrant Agreement, the New Existing Equity Warrant Agreement, the Amended Organizational Documents, and the Registration Rights Agreement). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">b.&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in the Plan, all actions authorized to be taken pursuant to the Plan, the Plan Supplement, and
the other Plan Documents, including, without limitation, the transactions identified in Article V of the Plan, shall be effective prior to, on, or after the Effective Date pursuant to this Order, without further notice, application to, or order of
this </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">62 </P>


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Bankruptcy Court, or further action by the respective managers, officers, directors, members, or equity holders of the Debtors or Reorganized Debtors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">c.&nbsp;&nbsp;&nbsp;&nbsp;To the extent that, under applicable nonbankruptcy law, any of the foregoing actions would otherwise require the
consent or approval of the equity holders, members, managers, or directors of any of the Debtors or Reorganized Debtors, this Order shall, pursuant to section 1142 of the Bankruptcy Code and the Reorganization Effectuation Statutes, constitute such
consent or approval, and such actions are deemed to have been taken by unanimous action of the directors, managers, members, and equity holders of the appropriate Debtor or Reorganized Debtor, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">d.&nbsp;&nbsp;&nbsp;&nbsp;Each government entity is hereby authorized to accept any and all documents, mortgages, security agreements,
financing statements, and instruments necessary or appropriate to effectuate, implement, or consummate the transactions contemplated by the Plan, the Plan Supplement, the other Plan Documents, and this Order. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">46.&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment of Statutory Fees</U>. On the Effective Date and thereafter as may be required, the Reorganized Debtors
shall pay all fees incurred pursuant to section 1930 of title 28 of the United States Code for each Debtor&#146;s case until such time as a final decree is entered closing a particular Debtor&#146;s case, a Final Order converting such Debtor&#146;s
case to a case under chapter 7 of the Bankruptcy Code is entered, or a Final Order dismissing such Debtor&#146;s case is entered. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">47.&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment of Advisor Fees of Credit Agreement Agent and Unofficial Noteholder Committee</U>. On the Effective
Date, the Reorganized Debtors are authorized and directed to pay in Cash all outstanding Restructuring Expenses. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">63 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">48.&nbsp;&nbsp;&nbsp;&nbsp;<U>Documents, Mortgages, and Instruments</U>. Each federal, state,
commonwealth, local, foreign, or other governmental agency is hereby authorized to accept any and all documents, mortgages, and instruments necessary or appropriate to effectuate, implement, or consummate the transactions contemplated by the Plan,
the Plan Supplement, the other Plan Documents, and this Order. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">49.&nbsp;&nbsp;&nbsp;&nbsp;<U>Reversal/Stay/Modification/Vacatur of
Confirmation Order</U>. Except as otherwise provided in this Order, if any or all of the provisions of this Order are hereafter reversed, modified, vacated, or stayed by subsequent order of this Bankruptcy Court or any other court, such reversal,
stay, modification, or vacatur shall not affect the validity or enforceability of any act, obligation, indebtedness, liability, priority, or lien incurred or undertaken by the Debtors or the Reorganized Debtors, as applicable, prior to the effective
date of such reversal, stay, modification, or vacatur. Notwithstanding any such reversal, stay, modification, or vacatur of this Order, any such act or obligation incurred or undertaken pursuant to, or in reliance on, this Order prior to the
effective date of such reversal, stay, modification, or vacatur shall be governed in all respects by the provisions of this Order and the Plan or any amendments or modifications thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">50.&nbsp;&nbsp;&nbsp;&nbsp;<U>Retention of Jurisdiction</U>. On and after the Effective Date, pursuant to sections&nbsp;105 and 1142 of the
Bankruptcy Code, this Bankruptcy Court, except as otherwise provided in the Plan or in this Order, shall retain jurisdiction over the matters set forth in Article XI and other applicable provisions of the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">51.&nbsp;&nbsp;&nbsp;&nbsp;<U>Modifications and Amendments</U>. Subject to the terms of the Restructuring Support Agreement, the Debtors may,
upon order of the Bankruptcy Court, amend, modify, or supplement the Plan in the manner provided for by section 1127 of the Bankruptcy Code or as </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">64 </P>


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otherwise permitted by law, in each case without additional disclosure pursuant to section 1125 of the Bankruptcy Code. Subject to the terms of the Restructuring Support Agreement and the
applicable sections of the Bankruptcy Code and the Bankruptcy Rules, before the Effective Date, the Debtors may make appropriate technical adjustments and modifications to the Plan and the documents contained in the Plan Supplement to cure any <FONT
STYLE="white-space:nowrap">non-substantive</FONT> ambiguity, defect (including any technical defect), or inconsistency without further order or approval of the Bankruptcy Court. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">52.&nbsp;&nbsp;&nbsp;&nbsp;<U>Provisions of Plan and Confirmation Order are Nonseverable and Mutually Dependent</U>. Each term and provision
of the Plan (including the Plan Supplement and all exhibits and schedules thereto) and all other documents filed in connection with the Plan, or executed or to be executed in connection with transactions contemplated by the Plan and all amendments
and modifications of any of the foregoing made pursuant to provisions of the Plan governing such modifications, is (a)&nbsp;valid and enforceable pursuant to its terms, (b)&nbsp;integral thereto and may not be deleted or modified without the consent
of (i)&nbsp;the Debtors or the Reorganized Debtors (as the case may be), and (ii)&nbsp;the Requisite Consenting Tidewater Lenders and the Requisite Consenting Noteholders, and (c)&nbsp;nonseverable and mutually dependent. The provisions of the Plan
and this Order, including the findings of fact and conclusions of law set forth herein, are nonseverable and mutually dependent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">53.&nbsp;&nbsp;&nbsp;&nbsp;<U>Jones Act Compliance</U>. The Solicitation Package and Solicitation Procedures, and the New Common Stock and the
New Warrants issued by Reorganized Tidewater Parent shall be deemed reasonable and appropriate measures for ensuring compliance with the Jones Act and with the applicable provisions of Reorganized Tidewater Parent&#146;s Amended Organizational
Documents, which contain reasonable and appropriate measures for </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">65 </P>


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ensuring compliance with the Jones Act. Upon issuance of the New Common Stock and the New Warrants, as provided for in the Solicitation Procedures, and upon adoption of Reorganized Tidewater
Parent&#146;s Amended Organizational Documents, Reorganized Tidewater Parent, as well as other Reorganized Debtors that own or operate U.S.-flag vessels in the U.S. coastwise trade, shall be deemed to be in compliance with the Jones Act and
qualified to own and operate U.S.-flag vessels in the U.S. coastwise trade. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">54.&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing Law</U>. Except to
the extent the Bankruptcy Code or other federal law is applicable, or to the extent an exhibit hereto or a schedule in the Plan Supplement or a Definitive Document provides otherwise, the rights, duties, and obligations arising under the Plan shall
be governed by, and construed and enforced in accordance with, the laws of the State of New York, without giving effect to the principles of conflict of laws thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">55.&nbsp;&nbsp;&nbsp;&nbsp;<U>Applicable Nonbankruptcy Law</U>. Pursuant to sections&nbsp;1123(a) and 1142(a) of the Bankruptcy Code, the
provisions of this Order, the Plan, the Plan Supplement, and the other Plan Documents, or any amendments or modifications thereto shall apply and be enforceable notwithstanding any otherwise applicable nonbankruptcy law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">56.&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver of Filings</U>. Any requirement under section&nbsp;521 of the Bankruptcy Code or Bankruptcy
Rule&nbsp;1007 obligating the Debtors to file any list, schedule, or statement with the Bankruptcy Court or the Office of the U.S. Trustee (except for monthly operating reports or any other post-confirmation reporting obligation to the U.S.
Trustee), is hereby waived as to any such list, schedule, or statement not filed as of the Confirmation Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">57.&nbsp;&nbsp;&nbsp;&nbsp;<U>Governmental Approvals Not Required</U>. Subject to paragraph 24 of this Order, this Order shall constitute all
approvals and consents required, if any, by the laws, rules, or regulations of any state or other governmental authority with respect to the implementation or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">66 </P>


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consummation of the Plan, any documents, instruments, or agreements, and any amendments or modifications thereto, and any other acts referred to in, or contemplated by, the Plan, the Plan
Supplement, the other Plan Documents, and the Disclosure Statement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">58.&nbsp;&nbsp;&nbsp;&nbsp;<U>Additional Plan Modifications</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Section 1.72 of the Plan shall be amended and restated (deletions shown in strikethrough and bold; additions shown
in underline and bold) as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Exculpated Parties</I> means collectively: (a)&nbsp;the Debtors, (b)&nbsp;the
Reorganized Debtors, (c)&nbsp;the Creditors&#146; Committee, (d)&nbsp;the Equity Committee, <B><STRIKE>and </STRIKE></B>(e)<B>&nbsp;<U>with respect to each of the foregoing Entities in clauses (a)</U></B><B><U></U></B><B><U>&nbsp;and (b), such
Entities&#146; respective officers and directors, (f)</U></B><B><U></U></B>&nbsp;with respect to each of the foregoing Entities in clauses (a)&nbsp;through (d), such Entities&#146; <B><U>respective</U></B> <B><STRIKE>predecessors, successors, and
assigns, managed accounts or funds, current or former officers, directors, principals, shareholders, members, partners, employees, agents, financial advisors, attorneys, accountants, investment bankers, consultants, representatives, management
companies, and other</STRIKE></B> professionals<B><STRIKE>, and such Entities&#146; respective heirs, executors, estates, and nominees</STRIKE></B><B><U>, and (g)&nbsp;the respective members of the Creditors&#146; Committee and the Equity Committee
(each in their capacity as such)</U></B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Section 10.6(b)(3) of the Plan shall be amended and restated
(additions shown in underline and bold) as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">with respect to any Entity in the foregoing clauses (1)&nbsp;and (2),
except to the extent deemed to reject the Plan, such Entity&#146;s predecessors, successors and assigns, subsidiaries, affiliates, managed accounts or funds, current or former officers, directors, principals, shareholders, members, partners,
employees, agents, advisory board members, financial advisors, attorneys, accountants, investment bankers, consultants, representatives, management companies, fund advisors and other professionals, and such Entity&#146;s respective heirs, executors,
estates, servants, and nominees<U> </U><B><U>(each, solely in their capacity as such)</U></B>; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;Section 10.7 of
the Plan shall be amended and restated (deletions shown in strikethrough and bold) as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything
herein to the contrary, and to the maximum extent permitted by applicable law, the Exculpated Parties shall neither have nor incur any liability to any holder of a Claim or Interest or any other party in interest, or any of their respective
predecessors, successors, and assigns, subsidiaries, affiliates, managed accounts, or funds, current or former officers, directors, principals, shareholders, members, partners, employees, agents, advisory board members, financial advisors,
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">67 </P>


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attorneys, accountants, investment bankers, consultants, representatives, management companies, fund advisors, and other professionals, and such Entity&#146;s respective heirs, executors,
estates, servants, or nominees for any act or omission (both prior to and subsequent to the Petition Date) in connection with, related to, or arising out of, in whole or in part, <B><STRIKE>the Debtors,</STRIKE></B> the Debtors&#146; restructuring,
the Chapter 11 Cases, the purchase, sale, or rescission of the purchase or sale of any security of the Debtors or the Reorganized Debtors, the business or contractual arrangements between any Debtor and any Released Party relating to the Chapter 11
Cases, the Plan, or the Disclosure Statement, the restructuring of Claims and Interests before or during the Chapter 11 Cases, the negotiation, formulation, preparation, proposal, confirmation, or consummation of the Plan (including the Plan
Supplement), the Restructuring Support Agreement, the Definitive Documents, or any related agreements, instruments, or other documents, the solicitation of votes with respect to the Plan, any settlement or agreement in the Chapter 11 Cases, the
offer, issuance, and distribution of any securities issued or to be issued pursuant to the Plan, whether or not such distribution occurs following the Effective Date, negotiations regarding or concerning any of the foregoing, or the administration
of the Plan or property to be distributed hereunder, except for any act or omission that is a criminal act or constitutes gross negligence, willful misconduct, or intentional fraud as determined by Final Order. This exculpation shall be in addition
to, and not in limitation of, all other releases, indemnities, exculpations, and any other applicable law or rules protecting such Exculpated Parties from liability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">59.&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice of Entry of Confirmation Order and Effective Date</U>. In accordance with Bankruptcy Rules 2002 and
3020(c), as soon as reasonably practicable after the Effective Date, the Debtors shall serve notice of the entry of this Order, substantially in the form annexed hereto as <B><U>Exhibit 2</U></B> (the &#147;<B>Notice of Effective Date</B>&#148;), to
all parties who hold a Claim or Interest in these cases and the U.S. Trustee. Such notice is hereby approved in all respects and shall be deemed good and sufficient notice of entry of this Order and the occurrence of the Effective Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">60.&nbsp;&nbsp;&nbsp;&nbsp;<U>Dissolution of the Creditors</U><U>&#146;</U><U> Committee and the Equity Committee</U>. On the Effective Date,
the Creditors&#146; Committee and the Equity Committee shall dissolve, and the members thereof shall be released and discharged from all rights and duties arising from, or related to, the Chapter 11 Cases; <I>provided</I>, that the Creditors&#146;
Committee and the Equity Committee shall exist, and its professionals shall continue to be retained, after the Effective Date </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">68 </P>


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solely with respect to all applications filed pursuant to sections 330 and 331 of the Bankruptcy Code and any related hearings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">61.&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver or Estoppel</U>. Each holder of a Claim or Interest shall be deemed to have waived any right to assert
any argument, including the right to argue that its Claim or Interest should be Allowed in a certain amount, in a certain priority, secured, or not subordinated by virtue of an agreement made with the Debtors or their counsel (or any other Entity),
if such agreement was not disclosed in the Plan or papers filed with the Court before the Confirmation Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">62.&nbsp;&nbsp;&nbsp;&nbsp;<U>Debtors&#146; Actions Post-Confirmation Through the Effective Date</U>. During the period from entry of this
Order through and until the Effective Date, each of the Debtors shall continue to operate their business as a debtor in possession, subject to the oversight of the Court as provided under the Bankruptcy Code, the Bankruptcy Rules, and this Order,
and any order of the Court that is in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">63.&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver of Section</U><U></U><U>&nbsp;341
Meeting</U>. As of the date of this Order, the Section&nbsp;341 Meeting has not been convened. The convening of the Section&nbsp;341 Meeting is hereby waived in accordance with the Scheduling Order. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">64.&nbsp;&nbsp;&nbsp;&nbsp;<U>Substantial Consummation</U>. On the Effective Date, the Plan shall be deemed to be substantially consummated
under sections&nbsp;1101 and 1127 of the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">65.&nbsp;&nbsp;&nbsp;&nbsp;<U>Inconsistency</U>. To the extent of any
inconsistency between this Order and the Plan, this Order shall govern. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">66.&nbsp;&nbsp;&nbsp;&nbsp;<U>Effect of Confirmation Order on
Other Orders</U>. Unless expressly provided for herein, nothing in the Plan or this Order shall affect any orders entered in the Chapter 11 Cases pursuant to section 365 of the Bankruptcy Code. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">69 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">67.&nbsp;&nbsp;&nbsp;&nbsp;<U>Stay of Confirmation</U>. The requirements under Bankruptcy Rule
3020(e) that an order confirming a plan is stayed until the expiration of fourteen (14)&nbsp;days after entry of the order are hereby waived. This Order shall take effect immediately and shall not be stayed pursuant to Bankruptcy Rules 3020(e),
6004(g), 6006(d), or 7062. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">68.&nbsp;&nbsp;&nbsp;&nbsp;<U>No Waiver</U>. The failure to specifically include any particular Plan Document
or provision of the Plan or Plan Document in this Order will not diminish the effectiveness of such provision nor constitute a waiver thereof, it being the intent of this Bankruptcy Court that the Plan is confirmed in its entirety, the Plan
Documents are approved in their entirety, and all are incorporated herein by this reference. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">69.&nbsp;&nbsp;&nbsp;&nbsp;<U>Closure of the
Chapter 11 Cases</U>.&nbsp;As soon as practicable after the Effective Date, the Reorganized Debtors are authorized but not directed to submit an order to the Bankruptcy Court under certification of counsel that is in form and substance acceptable to
the U.S. Trustee that closes and issues a final decree for each of the Chapter 11 Cases. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">70.&nbsp;&nbsp;&nbsp;&nbsp;<U>Final Order</U>.
This Order is a Final Order and the period in which an appeal must be filed shall commence upon the entry hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: July 17, 2017 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wilmington, Delaware </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Brendan L. Shannon</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">HONORABLE BRENDAN L. SHANNON</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">UNITED STATES BANKRUPTCY JUDGE</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">70 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Exhibit&nbsp;1 </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Second Amended Plan </B></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Exhibit 2 </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Notice of Effective Date </B></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES BANKRUPTCY </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>COURT DISTRICT OF DELAWARE </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD></TD>
<TD></TD>
<TD></TD>
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<TD VALIGN="bottom" STYLE="BORDER-TOP:1px dashed #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>x</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><I>In re:</I></B> <B></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>TIDEWATER INC., </B><B><I>et
al.</I></B><B>,</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Debtors.<SUP STYLE="font-size:85%; vertical-align:top">1</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;<BR><BR><BR><BR></TD>
<TD VALIGN="bottom" ALIGN="right">:<BR>:<BR>:<BR>:<BR>:</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;<BR>&nbsp;<BR>&nbsp;<BR>&nbsp;<BR>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chapter 11</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Case No. 17&#150;11132 (BLS)</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">(Jointly Administered)</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px dashed #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">x</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NOTICE OF (I)&nbsp;ENTRY OF ORDER CONFIRMING FIRST </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDED JOINT PREPACKAGED CHAPTER 11 PLAN OF </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>REORGANIZATION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OF
TIDEWATER INC. AND ITS AFFILIATED DEBTORS </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>AND (II) OCCURRENCE OF EFFECTIVE DATE </U></B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>TO CREDITORS, INTEREST HOLDERS, AND OTHER PARTIES IN INTEREST: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>PLEASE TAKE NOTICE</B> that on July <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 2017, the Honorable Brendan L. Shannon, United
States Bankruptcy Judge for the District of Delaware (the &#147;<B>Bankruptcy Court</B>&#148;) entered an order (Docket No. [<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>]) (the &#147;<B>Order</B>&#148;),<SUP
STYLE="font-size:85%; vertical-align:top">2</SUP> approving, among other things, the<I> First Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Tidewater Inc. and Its Affiliated Debtors</I>, dated as of July&nbsp;12, 2017 (Docket No.
[<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>]) (the &#147;<B>Plan</B>&#148;) of Tidewater Inc. and its debtor affiliates, as debtors and debtors in possession in the above-captioned chapter 11 cases (collectively, the
&#147;<B>Debtors</B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>PLEASE TAKE FURTHER NOTICE</B> that the Order, the Plan, and all of the other documents filed in the
Chapter 11 Cases, can be viewed for free at the website for the Debtors&#146; claims, noticing, and solicitation agent, Epiq Bankruptcy Solutions, LLP (&#147;<B>Epiq</B>&#148;): http://dm.epiq11.com/Tidewater. Additionally, copies of the documents
are available upon request by (i)&nbsp;calling Epiq at (866)&nbsp;734-9393 (toll free), (ii)&nbsp;sending an </P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Debtors in these chapter 11 cases, along with the last four digits of each Debtor&#146;s federal tax identification number, if any, are: Tidewater Inc. (7776), Tidewater Marine Western, Inc. (1064), Tidewater
Corporate Services, L.L.C. (7776), Tidewater Marine, L.L.C. (7779), Cajun Acquisitions, LLC (2365), Gulf Fleet Supply Vessels, L.L.C. (2194), Hilliard Oil&nbsp;&amp; Gas, Inc. (4727), Java Boat Corporation (0278), Pan Marine International Dutch
Holdings, L.L.C., Point Marine, L.L.C. (9586), Quality Shipyards, L.L.C. (2335), S.O.P., Inc. (3464), Tidewater Marine Alaska, Inc. (7549), Tidewater Marine International Dutch Holdings, L.L.C. (2289), Tidewater Marine Sakhalin, L.L.C. (7779),
Tidewater Mexico Holding, L.L.C. (8248), Tidewater Venture, Inc. (7694), Twenty Grand (Brazil), L.L.C. (7730), Twenty Grand Marine Service, L.L.C. (7730), Zapata Gulf Marine, L.L.C. (5513), Tidewater GOM, Inc. (2799), Tidewater Subsea, L.L.C.
(2022), Tidewater Subsea ROV, L.L.C. (3832), Tidewater Marine Fleet, L.L.C., Tidewater Marine Hulls, L.L.C., Tidewater Marine Ships, L.L.C., and Tidewater Marine Vessels, L.L.C. The Debtors&#146; principal offices are located at 601 Poydras Street,
Suite 1500, New Orleans, Louisiana 70130. </TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Unless otherwise defined in this notice, capitalized terms used herein shall have the meanings ascribed to them
in the Plan and the Order. </P></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
electronic mail message to tabulation@epiqsystems.com with &#147;Tidewater&#148; in the subject line, or (iii)&nbsp;accessing the Bankruptcy Court&#146;s website: www.deb.uscourts.gov. A PACER
password and login are needed to access documents on the Bankruptcy Court&#146;s website. A PACER password can be obtained at http://www.pacer.psc.uscourts.gov. The Order, the Plan, and all of the other documents filed in the Chapter 11 Cases are
also available for inspection during regular business hours in the office of the Clerk of the Bankruptcy Court, 824 N. Market Street, 3rd Floor, Wilmington, Delaware 19801. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>PLEASE TAKE FURTHER NOTICE</B> that the Effective Date of the Plan occurred on
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 2017. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>PLEASE TAKE FURTHER NOTICE</B> that pursuant to section 1141 and other applicable provisions of title 11 of the United States Code, as a
result of the occurrence of the Effective Date, the provisions of the Plan (including the exhibits thereto and all documents and agreements executed pursuant thereto or in connection therewith), and the Order<B><U> are binding</U></B> on the
Debtors, the Reorganized Debtors, all holders of Claims or Interests in the Debtors (irrespective of whether such Claims or Interests are impaired under the Plan or whether the holders of such Claims or Interests accepted or rejected the Plan), any
other person giving, acquiring, or receiving property under the Plan, any and all non-Debtor parties to executory contracts and unexpired leases with any of the Debtors, any other party in interest in the Chapter 11 Cases, and the respective heirs,
executors, administrators, successors or assigns of any of the foregoing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I></I>[<I>Remainder of Page Intentionally Left Blank</I>]<I>
</I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 2017 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wilmington, Delaware </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="31%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="68%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD COLSPAN="3" VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Daniel J. DeFranceschi (No. 2732)</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Zachary I. Shapiro (No. 5103)</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">RICHARDS, LAYTON&nbsp;&amp; FINGER,
P.A.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">One Rodney Square</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">920 North King Street</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Wilmington, Delaware 19801</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Telephone:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">(302) 651-7700</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Facsimile:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">(302) 651-7701</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Email:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">defranceschi@rlf.com</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Email:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">shapiro@rlf.com</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">-and-</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ray C. Schrock, P.C. (admitted <I>pro hac vice</I>)</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jill Frizzley</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WEIL, GOTSHAL&nbsp;&amp; MANGES LLP</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">767 Fifth Avenue</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">New York, New York 10153</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Telephone:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">(212) 310-8000</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Facsimile:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">(212) 310-8007</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Email:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">ray.schrock@weil.com</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Email:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">jill.frizzley@weil.com</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">-and-</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Alfredo R. P&eacute;rez (admitted <I>pro hac vice</I>)</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chris L&oacute;pez (admitted <I>pro hac vice</I>)</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WEIL,
GOTSHAL&nbsp;&amp; MANGES LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">700 Louisiana Street, Suite 1700</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Houston, Texas 77002</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Telephone:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">(713) 546-5000</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Facsimile:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">(713) 224-9511</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Email:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">alfredo.perez@weil.com</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Email:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">chris.lopez@weil.com</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attorneys for the Debtors</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">and
Debtors in Possession</P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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<TYPE>EX-99.2
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<FILENAME>d159507dex992.htm
<DESCRIPTION>EX-99.2
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.2 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<IMG SRC="g159507g0714080707068.jpg" ALT="LOGO">
</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:32pt; font-family:Times New Roman" ALIGN="right">Press Release</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="line-height:2.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">TIDEWATER INC. &#149; <FONT STYLE="white-space:nowrap">Pan-American</FONT> Life Center &#149; 601 Poydras Street, Suite 1500 &#149; New Orleans,
LA 70130 &#149; Telephone (504) <FONT STYLE="white-space:nowrap">568-1010</FONT> &#149; Fax (504) <FONT STYLE="white-space:nowrap">566-4582</FONT> </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TIDEWATER ANNOUNCES CONFIRMATION OF PLAN OF REORGANIZATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">NEW ORLEANS, July&nbsp;13, 2017&#151; Tidewater Inc. (NYSE: TDW) (&#147;Tidewater&#148; or the &#147;Company&#148;) today announced that the United States
Bankruptcy Court for the District of Delaware (the &#147;Court&#148;) has confirmed the Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Tidewater and its Affiliated Debtors, originally dated May&nbsp;17, 2017 and amended on
July&nbsp;12, 2017 and July&nbsp;13, 2017 (the &#147;Plan&#148;). The Company expects that Judge Brendan L. Shannon will enter a written confirmation order within the next few business days (the &#147;Confirmation Order&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We are very pleased that the court has confirmed our Plan within a relatively short time frame,&#148; said Jeffrey M. Platt, Tidewater&#146;s President
and Chief Executive Officer. &#147;The substantial deleveraging of our balance sheet through the recapitalization contemplated by the Plan, as well as our strong liquidity position, should reassure our customer and vendor base of our ongoing ability
to perform our contracts and meet our obligations while we weather the continuing headwinds in the offshore energy industry. Additionally, this restructuring will position us to consider possible targeted acquisition opportunities in an industry
where consolidation is to be expected. We are working hard to complete the remaining steps necessary to emerge from bankruptcy by the end of this month. Tidewater is thankful for the continued support of our many stakeholders, including our lenders,
noteholders, stockholders, employees, customers, vendors and trade creditors. Their support has been integral to the successful outcome of the chapter 11 process, and we look forward to emerging in the coming weeks as a strong, well-capitalized
company, poised to continue providing our customers with the same safe, compliant and efficient services which have been the hallmark of our Company throughout our history.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following is a summary of the material terms of the Plan. This summary highlights only certain substantive provisions of the Plan and is not intended to
be a complete description of the Plan. Capitalized terms used but not defined below have the meanings ascribed to them in the Plan. Following the entry of the written Confirmation Order, the Company will file a Current Report on Form <FONT
STYLE="white-space:nowrap">8-K</FONT> with the Securities and Exchange Commission, which will include the Plan and Confirmation Order as exhibits. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>The Plan of Reorganization and Treatment of Claims and Interests </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Plan contemplates the following treatment of claims against and interests in the Debtors: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The lenders under the Credit Agreement, the holders of Notes, and the lessor parties (the &#147;Sale Leaseback
Parties&#148;) to certain sale leaseback agreements (the </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

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<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">
&#147;Sale Leaseback Agreements&#148;) holding claims thereunder (collectively, the &#147;General Unsecured Creditors&#148; and the claims thereof, the &#147;General Unsecured Claims&#148;) will
receive their pro rata share of (a) $225&nbsp;million of cash, (b)&nbsp;subject to the considerations discussed below, common stock and, if applicable, warrants (the &#147;New Creditor Warrants&#148;) to purchase common stock, representing 95% of
the pro forma common equity in reorganized Tidewater (subject to dilution by a management incentive plan and the exercise of warrants issued to existing stockholders under the Plan as described below); and (c)&nbsp;new 8% fixed rate secured notes
due in 2022 in the aggregate principal amount of $350&nbsp;million (the &#147;New Secured Notes&#148;). </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">The Company and
the Sale Leaseback Parties are not in agreement with respect to the allowed amount of claims of the Sale Leaseback Parties (the &#147;Sale Leaseback Claims&#148;). Accordingly, on the Effective Date, a portion of the cash, New Creditor Warrants, and
New Secured Notes referenced above, in an amount that the Company believes represents the maximum possible distributions owing on account of such disputed Sale Leaseback Claims, will be withheld from distributions to General Unsecured Creditors and
will be distributed according to the terms of the Plan as such claims are resolved. To the extent the Sale Leaseback Claims are resolved for less than the amount withheld, the remainder will thereafter be distributed to holders of allowed General
Unsecured Claims pro rata. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">To assure the continuing ability of certain vessels owned by the Company&#146;s subsidiaries to engage in U.S.
coastwise trade, the number of shares of the Company&#146;s common stock that would otherwise be issuable to the allowed General Unsecured Creditors may be adjusted to assure that the foreign ownership limitations of the United States Jones Act are
not exceeded. The Jones Act requires any corporation that engages in coastwise trade be a U.S. citizen within the meaning of that law, which requires, among other things, that the aggregate ownership of common stock by
<FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizens within the meaning of the Jones Act be not more than 25% of its outstanding common stock. The Plan requires that, at the time Tidewater emerges from bankruptcy, not more than 22% of the
outstanding common stock will be held by <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizens. To that end, the Plan provides for the issuance of a combination of common stock of reorganized Tidewater and the New Creditor Warrants to purchase
common stock of reorganized Tidewater on a pro rata basis to any <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizen among the allowed General Unsecured Creditors whose ownership of common stock, when combined with the shares to be issued to
other General Unsecured Creditors and existing Tidewater stockholders that are <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizens, would otherwise cause the 22% threshold to be exceeded. The New Creditor Warrants will not grant the holders
thereof any voting or control rights or dividend rights, or contain any negative covenants restricting the operation of the Company&#146;s business. Generally, the New Creditor Warrants will be transferrable and will be exercisable immediately at a
nominal exercise price, subject to restrictions contained in the Company&#146;s new certificate of incorporation designed to assure the Company&#146;s continuing eligibility to engage in coastwise trade under the Jones Act that prohibit the exercise
of such warrants where such </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
exercise would cause the total number of shares held by <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizens to exceed 24% of the Company&#146;s outstanding common stock. Tidewater will
establish, under its charter and through DTC, appropriate measures to assure compliance with these ownership limitations. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Company&#146;s existing shares of common stock will be cancelled as of the Effective Date. Existing common stockholders of Tidewater will receive their pro rata share of common stock representing 5% of the pro forma
common equity in reorganized Tidewater (subject to dilution by a management incentive plan and the exercise of warrants issued to existing stockholders under the Plan) and <FONT STYLE="white-space:nowrap">six-year</FONT> warrants to purchase
additional shares of common stock of reorganized Tidewater. These warrants will be issued in two tranches, with the first tranche (the &#147;Series A Warrants&#148;) being exercisable immediately, at an aggregate exercise price based upon an equity
value of the Company of approximately $1.71&nbsp;billion, and the second tranche (the &#147;Series B Warrants&#148;) being exercisable immediately, at an aggregate exercise price based upon an equity value of the Company of $2.02&nbsp;billion. The
Series A Warrants will be exercisable for a number of shares equal to 7.5% of the sum of (i)&nbsp;the total outstanding shares of common stock after completion of the transactions contemplated by the Plan, and (ii)&nbsp;any shares issuable upon
exercise of the New Creditor Warrants and the Series A Warrants, while the Series B Warrants will be exercisable for a number of shares equal to 7.5% of the sum of (x)&nbsp;the total outstanding shares of common stock after completion of the
transactions contemplated by the Plan, and (y)&nbsp;any shares issuable upon the exercise of the New Creditor Warrants, the Series A Warrants, and Series B Warrants. Like the New Creditor Warrants, the Series A Warrants and the Series B Warrants
will not grant the holders thereof any voting or control rights or dividend rights, or contain any negative covenants restricting the operation of the Company&#146;s business and will be subject to the restrictions in the Company&#146;s new
certificate of incorporation described above that prohibit the exercise of such warrants where such exercise would cause the total number of shares held by <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizens to exceed 24% of the Company&#146;s
outstanding common stock. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The undisputed claims of other unsecured creditors such as customers, employees, and vendors, will be paid in full in the ordinary course of business (except as otherwise agreed among the parties). </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless otherwise specified, the treatment set forth in the Plan and Confirmation Order will be in full satisfaction of all claims against and interests in the
Debtors, which will be discharged on the Effective Date. All of the Company&#146;s existing common stock will be extinguished by the Plan. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Additional
Information </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Additional details about the restructuring are available on the Company&#146;s website and at http://dm.epiq11.com/tidewater, or via the
Company&#146;s restructuring information line <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">844-843-0204</FONT></FONT> (toll free) or <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">504-597-5543</FONT></FONT>
(international calls). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company notes that certain statements set forth in
this press release provide other than historical information and are forward looking. The actual achievement of any forecasted results, or the unfolding of future economic or business developments in a way anticipated or projected by the Company,
involve numerous risks and uncertainties that may cause the Company&#146;s actual performance to be materially different from that stated or implied in the forward-looking statement. Among those risks and uncertainties, many of which are beyond the
control of the Company, including, without limitation, the ability to satisfy the conditions necessary to declare the Plan effective in the anticipated timeframe; effects on the market price of the Company&#146;s common stock and on the
Company&#146;s ability to access the capital markets; volatility in worldwide energy demand and oil and gas prices, and continuing depressed levels of oil and gas prices, without a clear indication of if, or when, prices will recover to a level to
support renewed offshore exploration activities; consolidation of our customer base; fleet additions by competitors and industry overcapacity; our views with respect to the need for and timing of the replenishment of our asset base, including
through acquisitions or vessel construction; changes in capital spending by customers in the energy industry for offshore exploration, field development and production; loss of a major customer; changing customer demands for vessel specifications,
which may make some of our older vessels technologically obsolete for certain customer projects or in certain markets; delays and other problems associated with vessel construction and maintenance; uncertainty of global financial market conditions
and difficulty in accessing credit or capital; potential difficulty in meeting financial covenants in material debt or other obligations of the Company or in obtaining covenant relief from lenders or other contract parties; acts of terrorism and
piracy; integration of acquired businesses and entry into new lines of business; disagreements with our joint venture partners; significant weather conditions; unsettled political conditions, war, civil unrest and governmental actions, such as
expropriation or enforcement of customs or other laws that are not well developed or consistently enforced, or requirements that services provided locally be paid in local currency, in each case especially in higher political risk countries where we
operate; foreign currency fluctuations; labor changes proposed by international conventions; increased regulatory burdens and oversight; changes in laws governing the taxation of foreign source income; retention of skilled workers; enforcement of
laws related to the environment, labor and foreign corrupt practices; and the resolution of pending legal proceedings. Readers should consider all of these risk factors as well as other information contained in this press release. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tidewater is the leading provider of Offshore Service Vessels (OSVs) to the global energy industry. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">INVESTOR CONTACT: Tidewater Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Quinn P. Fanning, Executive
Vice President and Chief Financial Officer </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">713-470-5300</FONT></FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Joe Bennett, Executive Vice President and Chief Investor Relations Officer </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">504-566-4506</FONT></FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">MEDIA CONTACT: Jennifer E. Mercer </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Epiq Strategic Communications for Tidewater </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">310-712-6215</FONT></FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SOURCE: Tidewater Inc. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

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