<SEC-DOCUMENT>0001437749-22-020340.txt : 20220812
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<ACCEPTANCE-DATETIME>20220812160538
ACCESSION NUMBER:		0001437749-22-020340
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		21
CONFORMED PERIOD OF REPORT:	20220809
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Material Modifications to Rights of Security Holders
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20220812
DATE AS OF CHANGE:		20220812

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:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06311
		FILM NUMBER:		221160017

	BUSINESS ADDRESS:	
		STREET 1:		842 WEST SAM HOUSTON PARKWAY NORTH
		STREET 2:		SUITE 400
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024
		BUSINESS PHONE:		(713) 470-5300

	MAIL ADDRESS:	
		STREET 1:		842 WEST SAM HOUSTON PARKWAY NORTH
		STREET 2:		SUITE 400
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TIDEWATER MARINE SERVICE INC
		DATE OF NAME CHANGE:	19780724
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<div style="font-family:Times New Roman;font-size:18pt;font-variant:normal;text-align:center;margin:0pt;"><b>UNITED STATES</b></div>

<div style="font-family:Times New Roman;font-size:18pt;font-variant:normal;text-align:center;margin:0pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>WASHINGTON, D.C. 20549</b></div>

<div style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#xa0;</div>

<div style="font-family:Times New Roman;font-size:18pt;font-variant:normal;text-align:center;margin:0pt;"><b>FORM <ix:nonNumeric contextRef="d20228K" name="dei:DocumentType"><b>8-K</b></ix:nonNumeric></b></div>

<div style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#xa0;</div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Current Report</b></div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></div>

<div style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#xa0;</div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Date of Report (Date of earliest event reported): <ix:nonNumeric contextRef="d20228K" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate"><b>August 9, 2022</b></ix:nonNumeric></div>

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<div style="font-family:Times New Roman;font-size:18pt;font-variant:normal;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="d20228K" name="dei:EntityRegistrantName"><b>TIDEWATER INC.</b></ix:nonNumeric></div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Exact name of Registrant as specified in its charter)</div>

<div style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#xa0;</div>

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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="d20228K" name="dei:EntityFileNumber"><b>1-6311</b></ix:nonNumeric></div>
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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="d20228K" name="dei:EntityTaxIdentificationNumber"><b>72-0487776</b></ix:nonNumeric></div>
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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(State or other jurisdiction of</div>
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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Commission file number)</div>
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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(I.R.S. Employer</div>
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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">incorporation)</div>
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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Identification No.)</div>
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<div style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#xa0;</div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="d20228K" name="dei:EntityAddressAddressLine1"><b>842 West Sam Houston Parkway North, Suite 400</b></ix:nonNumeric><b>, <ix:nonNumeric contextRef="d20228K" name="dei:EntityAddressCityOrTown"><b>Houston</b></ix:nonNumeric>, <ix:nonNumeric contextRef="d20228K" format="ixt-sec:stateprovnameen" name="dei:EntityAddressStateOrProvince"><b>Texas</b></ix:nonNumeric></b> <ix:nonNumeric contextRef="d20228K" name="dei:EntityAddressPostalZipCode"><b>77024</b></ix:nonNumeric></div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Address of principal executive offices) (zip code)</div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Registrant&#8217;s telephone number, including area code:<b> (<ix:nonNumeric contextRef="d20228K" name="dei:CityAreaCode"><b>713</b></ix:nonNumeric>) <ix:nonNumeric contextRef="d20228K" name="dei:LocalPhoneNumber"><b>470-5300</b></ix:nonNumeric></b></div>

<div style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#xa0;</div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Not Applicable</b></div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Former name or former address, if changed since last report)</div>

<div style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#xa0;</div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">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:</div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 18pt;text-indent:-18pt;"><ix:nonNumeric contextRef="d20228K" format="ixt-sec:boolballotbox" name="dei:WrittenCommunications">&#9744;</ix:nonNumeric> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 18pt;text-indent:-18pt;"><ix:nonNumeric contextRef="d20228K" format="ixt-sec:boolballotbox" name="dei:SolicitingMaterial">&#9744;</ix:nonNumeric> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 18pt;text-indent:-18pt;"><ix:nonNumeric contextRef="d20228K" format="ixt-sec:boolballotbox" name="dei:PreCommencementTenderOffer">&#9744;</ix:nonNumeric> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 18pt;text-indent:-18pt;"><ix:nonNumeric contextRef="d20228K" format="ixt-sec:boolballotbox" name="dei:PreCommencementIssuerTenderOffer">&#9744;</ix:nonNumeric> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>

<div style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#xa0;</div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Securities registered pursuant to Section 12(b) of the Act:</div>

<div style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#xa0;</div>

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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Title of each class</b></div>
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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Trading</b></div>

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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="d20228K_StatementClassOfStockAxis_CommonStock" name="dei:Security12bTitle">Common stock</ix:nonNumeric>, $0.001 par value per share</div>
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			<td style="vertical-align: bottom; width: 0.5%;">&#xa0;</td>
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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="d20228K_StatementClassOfStockAxis_SeriesAWarrantsToPurchaseSharesOfCommonStock" name="dei:TradingSymbol">TDW.WS.A</ix:nonNumeric></div>
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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="d20228K_StatementClassOfStockAxis_SeriesBWarrantsToPurchaseSharesOfCommonStock" name="dei:TradingSymbol">TDW.WS.B</ix:nonNumeric></div>
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			<td style="vertical-align:bottom;width:0.5%;">&#xa0;</td>
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<div style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#xa0;</div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;&#8201;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;&#8201;240.12b-2 of this chapter).</div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Emerging growth company <ix:nonNumeric contextRef="d20228K" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany">&#9744;</ix:nonNumeric></div>

<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">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 financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</div>

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			<div style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>Entry into a Material Definitive Agreement.</b></div>
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<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">On August<b> </b>9, 2022, Tidewater Inc. (the &#8220;Company&#8221;) entered into an Underwriting Agreement (the &#8220;Underwriting Agreement&#8221;) between the Company and Morgan Stanley &amp; Co.&#xa0;LLC (the &#8220;Underwriter&#8221;) with respect to the offer and sale of 3,520,000 shares of the Company&#8217;s common stock, par value $0.001 per share (&#8220;Common Stock&#8221;) by the Company at a price to the public of $17.850 per share resulting in total gross proceeds to the Company of approximately $62,832,000 million (the &#8220;Offering&#8221;). Pursuant to the terms of the Underwriting Agreement, the Underwriter was granted and has exercised in full a 30-day over-allotment option to purchase up to an additional 528,000 shares of Common Stock, resulting in total net proceeds&#xa0;(before expenses) to the Company from the Offering of approximately $70,629,504 million.&#xa0;The shares of Common Stock were delivered against payment therefor on August 12, 2022.</div>

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<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The Offering was conducted pursuant to the Company&#8217;s Registration Statement on Form S-3, File No. 333-234686 (the &#8220;Registration Statement&#8221;), including a prospectus relating to the shelf securities, dated July 20, 2021 as supplemented by the preliminary and final prospectus supplements specifically relating to the shares contemplated under the Agreement, dated August 9, 2022, filed with the Securities and Exchange Commission (&#8220;SEC&#8221;) pursuant to Rule 424(b) of the Securities Act. A copy of the legal opinion of Norton Rose Fulbright US LLP relating to the legality of the issuance and sale of the shares of Common Stock in the Offering is attached to this Current Report on Form 8-K as Exhibit 5.1.</div>

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<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The Underwriting Agreement includes customary representations, warranties and covenants by the Company. It also provides for customary indemnification by each of the Company and the Underwriter against certain liabilities arising out of or in connection with the sale of the Common Stock and for customary contribution provisions in respect of those liabilities. In addition, subject to certain exceptions, the Company, its executive officers, directors and one of its shareholders have agreed not to sell or otherwise dispose of any of the shares of Common Stock or securities convertible into or exchangeable or exercisable for any shares of Common Stock held by them for a period ending 90 days after the date of the prospectus supplement without first obtaining the written consent of the Underwriter.</div>

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<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Additionally, on August 9, 2022, the Company entered into a Warrant Repurchase Agreement (the &#8220;Warrant Repurchase Agreement&#8221;) between the Company and Banyan Overseas Limited (&#8220;Banyan&#8221;), pursuant to the terms of which the Company will use the net proceeds of the Offering to repurchase from Banyan of a number of warrants exercisable for shares of our common stock equal to the number of shares of our common stock sold in the Offering.</div>

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<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The foregoing descriptions of the Underwriting Agreement and the Warrant Repurchase Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of such agreements, copies of which are filed as Exhibit 1.1 and 1.2, respectively, to this Current Report on Form 8-K and is incorporated herein by reference.</div>

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<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The Underwriting Agreement and the Warrant Repurchase Agreement have been filed with this Current Report on Form 8-K to provide investors and security holders with information regarding their terms and are not intended to provide any other factual information about the Company. The representations, warranties and covenants contained in the Underwriting Agreement and the Warrant Repurchase Agreement and were made only for purposes of each such agreement and as of specific dates, were solely for the benefit of the parties to each such agreement and may be subject to limitations agreed upon by the contracting parties. The representations and warranties may have been made for the purposes of allocating contractual risk between the parties to the respective agreement instead of establishing these matters as facts and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors are not third-party beneficiaries under the Underwriting Agreement or the Warrant Repurchase Agreement and should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the Company or any of its subsidiaries or affiliates. Moreover, information concerning the subject matter of the representations and warranties may change after the dates of the Underwriting Agreement and the Warrant Repurchase Agreement, which subsequent information may or may not be fully reflected in the Company&#8217;s public disclosures.</div>

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<div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt;"><i>Forward-Looking Statements</i></div>

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<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">This Current Report on Form 8-K contains forward-looking statements that involve risks and uncertainties. The risks and uncertainties involved include the Company&#8217;s ability to satisfy certain conditions to closing on a timely basis or at all, market conditions, and other risks detailed from time to time in the Company&#8217;s periodic reports and other filings with the SEC. You are cautioned not to place undue reliance on forward-looking statements, which are based on the Company&#8217;s current expectations and assumptions and speak only as of the date of this Current Report on Form 8-K. The Company does not intend to revise or update any forward-looking statement in this Current Report on Form 8-K as a result of new information, future events or otherwise, except as required by law.</div>

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<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The information contained above in Item 1.01 is hereby incorporated by reference into this Item 3.02.</div>

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<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">On August 9, 2022 and August 10, 2022, the Company issued press releases announcing that it had launched and priced the Offering. Copies of the press releases are attached as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.</div>

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<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">(d) Exhibits</div>

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			<div style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><a href="ex_410692.htm" style="-sec-extract:exhibit;">Underwriting Agreement, dated August<b> </b>9, 2022, by and between Tidewater Inc. and Morgan Stanley &amp; Co.&#xa0;LLC.</a></div>
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			<div style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><a href="ex_410693.htm" style="-sec-extract:exhibit;">Warrant Repurchase Agreement, dated August 9, 2022, by and between Tidewater Inc. and Banyan Overseas Limited.</a></div>
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			<div style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><a href="ex_410639.htm" style="-sec-extract:exhibit;">Consent of Norton Rose Fulbright US LLP (included as part of Exhibit 5.1 hereto).</a></div>
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			<div style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><a href="ex_410640.htm" style="-sec-extract:exhibit;">Press Release issued August<b> </b>9, 2022 by Tidewater Inc.</a></div>
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			<div style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><a href="ex_410641.htm" style="-sec-extract:exhibit;">Press Release issued August<b> </b>10, 2022 by Tidewater Inc.</a></div>
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<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:9pt;">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.</div>

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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Date: August<b> </b>12, 2022</div>
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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">TIDEWATER INC.</div>
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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">/s/ Daniel A. Hudson</div>
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			<div style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Executive Vice President, General Counsel and Secretary</div>
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<DESCRIPTION>EXHIBIT 1.1
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 1.1</b></font></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt 0pt 0pt 8pt;"><b><i>EXECUTION VERSION</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>TIDEWATER INC.</b><br>
<br>
<b>3,520,000 SHARES OF COMMON STOCK, PAR VALUE $0.001 PER SHARE</b><br>
<br>
<br>
<br>
<br>
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<b>UNDERWRITING AGREEMENT</b></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">August 9, 2022</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: right;">August 9, 2022</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 18pt;text-indent:-18pt;">To Morgan Stanley &amp; Co. LLC</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Ladies and Gentlemen:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">Tidewater Inc., a Delaware corporation (the &#8220;<b>Company</b>&#8221;), proposes to issue and sell to Morgan Stanley &amp; Co. LLC (the &#8220;<b>Underwriter</b>&#8221;), the number of shares of its common stock, par value $0.001 per share, set forth in Schedule I hereto (the &#8220;<b>Firm Shares</b>&#8221;). The Company also proposes to issue and sell to the Underwriter not more than the number of additional shares of its common stock, par value $0.001 per share, set forth in Schedule I hereto (the &#8220;<b>Additional Shares</b>&#8221;) if and to the extent that the Underwriter, shall have determined to exercise the right to purchase such shares of common stock granted to the Underwriter in Section&nbsp;2 hereof. The Firm Shares and the Additional Shares are hereinafter collectively referred to as the &#8220;<b>Shares.</b>&#8221; The shares of common stock, par value $0.001 per share, of the Company to be outstanding after giving effect to the sales contemplated hereby are hereinafter referred to as the &#8220;<b>Common Stock</b>.&#8221;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">The Company intends to use the net proceeds received from the offering of the Shares (before expenses) to repurchase from Banyan Overseas Limited, a limited company organized under the laws of Bermuda (&#8220;<b>Banyan</b>&#8221;) a number of warrants exercisable for shares of the Company&#8217;s common stock (the &#8220;<b>Warrants</b>&#8221;) equal to the number of the Shares pursuant to the provisions of a warrant repurchase agreement between the Company and Banyan (the &#8220;<b>Warrant Repurchase Agreement</b>&#8221;). The Company and Banyan will also enter into an escrow agreement (the &#8220;<b>Warrant</b> <b>Escrow Agreement</b>&#8221;) with American Stock Transfer &amp; Trust Company, LLC (&#8220;<b>AST</b>&#8221;), pursuant to which AST will act as custodian for the Warrants to be repurchased from the time that the Warrant Escrow Agreement is entered into until the closing of this offering.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">The Company has filed with the Securities and Exchange Commission (the &#8220;<b>Commission</b>&#8221;) a registration statement on Form S-3 (the file number of which is set forth in Schedule I hereto), including a preliminary prospectus, relating to the securities (the &#8220;<b>Shelf Securities</b>&#8221;), including the Shares, to be issued from time to time by the Company. The registration statement as amended to the date of this Agreement, including the information (if any) deemed to be part of the registration statement at the time of effectiveness pursuant to Rule&nbsp;430A or Rule&nbsp;430B under the Securities Act of 1933, as amended (the &#8220;<b>Securities Act</b>&#8221;), is hereinafter referred to as the &#8220;<b>Registration Statement</b>&#8221;, and the related prospectus covering the Shelf Securities dated July 13, 2021 and effective July 20, 2021, in the form first used to confirm sales of the Shares (or in the form first made available to the Underwriter by the Company to meet requests of purchasers pursuant to Rule 173 under the Securities Act) is hereinafter referred to as the &#8220;<b>Base Prospectus</b>.&#8221; The Base Prospectus, as supplemented by the prospectus supplement specifically relating to the Shares in the form first used to confirm sales of the Shares (or in the form first made available to the Underwriter by the Company to meet requests of purchasers pursuant to Rule 173 under the Securities Act) is hereinafter referred to as the &#8220;<b>Prospectus</b>,&#8221; and the term &#8220;<b>preliminary prospectus</b>&#8221; means any preliminary form of the Prospectus.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">For purposes of this Agreement, &#8220;<b>free writing prospectus</b>&#8221; has the meaning set forth in Rule 405 under the Securities Act, &#8220;<b>Time of Sale Prospectus</b>&#8221; means the documents and pricing information set forth opposite the caption &#8220;Time of Sale Prospectus&#8221; in Schedule I hereto, and &#8220;<b>broadly available road show</b>&#8221; means a &#8220;bona fide electronic road show&#8221; as defined in Rule 433(h)(5) under the Securities Act that has been made available without restriction to any person. As used herein, the terms &#8220;Registration Statement,&#8221; &#8220;Base Prospectus,&#8221; &#8220;preliminary prospectus,&#8221; &#8220;Time of Sale Prospectus&#8221; and &#8220;Prospectus&#8221; shall include the documents, if any, incorporated by reference therein as of the date hereof. The terms &#8220;<b>supplement</b>,&#8221; &#8220;<b>amendment</b>,&#8221; and &#8220;<b>amend</b>&#8221; as used herein with respect to the Registration Statement, the Base Prospectus, the Time of Sale Prospectus, any preliminary prospectus or the Prospectus shall include all documents subsequently filed by the Company with the Commission pursuant to the Securities Exchange Act of 1934, as amended (the &#8220;<b>Exchange Act</b>&#8221;), that are deemed to be incorporated by reference therein.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">1.<i>&nbsp;&nbsp;&nbsp;&nbsp;Representations and Warranties</i>. The Company represents and warrants to and agrees with the Underwriter that:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;The Registration Statement has become effective; no stop order suspending the effectiveness of the Registration Statement is in effect, and no proceedings for such purpose or pursuant to Section 8A under the Securities Act are pending before or, to the Company&#8217;s knowledge, threatened by the Commission. If the Registration Statement is an automatic shelf registration statement as defined in Rule 405 under the Securities Act, the Company is a well-known seasoned issuer (as defined in Rule 405 under the Securities Act) eligible to use the Registration Statement as an automatic shelf registration statement and the Company has not received notice that the Commission objects to the use of the Registration Statement as an automatic shelf registration statement.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) Each document, if any, filed or to be filed pursuant to the Exchange Act and incorporated by reference in the Time of Sale Prospectus or the Prospectus complied or will comply when so filed in all material respects with the Exchange Act and the applicable rules and regulations of the Commission thereunder, (ii) each part of the Registration Statement, when such part became effective, did not contain, and each such part, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (iii) the Registration Statement as of the date hereof does not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (iv) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (v) the Time of Sale Prospectus does not, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section&nbsp;4), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (vi) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (vii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph do not apply to statements or omissions in the Registration Statement, the Time of Sale Prospectus or the Prospectus made in reliance upon and in conformity with information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriter consists of the Underwriter Information (as defined in Section 8(b) herein).</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;The Company is not an &#8220;ineligible issuer&#8221; in connection with the offering pursuant to Rules 164, 405 and 433 under the Securities Act. Any free writing prospectus that the Company is required to file pursuant to Rule 433(d) under the Securities Act has been, or will be, filed with the Commission in accordance with the requirements of the Securities Act and the applicable rules and regulations of the Commission thereunder. Each free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act or that was prepared by or on behalf of or used or referred to by the Company complies or will comply in all material respects with the requirements of the Securities Act and the applicable rules and regulations of the Commission thereunder. Except for the free writing prospectuses, if any, identified in Schedule I hereto forming part of the Time of Sale Prospectus, and electronic road shows, if any, each furnished to the Underwriter before first use, the Company has not prepared, used or referred to, and will not, without the Underwriter&#8217;s prior consent, prepare, use or refer to, any free writing prospectus.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(d)&nbsp;&nbsp;&nbsp;&nbsp;The Company has been duly incorporated, is validly existing as a corporation in good standing under the laws of the jurisdiction of its incorporation, has the corporate power and authority to own or lease its property and to conduct its business as described in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus and is duly qualified to transact business and is in good standing in each jurisdiction (to the extent the concept of good standing or an equivalent concept is applicable in such jurisdiction) in which the conduct of its business or its ownership or leasing of property requires such qualification, except to the extent that the failure to be so qualified or be in good standing would not, singly or in the aggregate, have a material adverse effect on the Company and its subsidiaries, taken as a whole.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(e)&nbsp;&nbsp;&nbsp;&nbsp;Each subsidiary of the Company has been duly incorporated, organized or formed, is validly existing as a corporation or other business entity in good standing under the laws of the jurisdiction of its incorporation, organization or formation, has the corporate or other business entity power and authority to own or lease its property and to conduct its business as described in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus and is duly qualified to transact business and is in good standing in each jurisdiction in which the conduct of its business or its ownership or leasing of property requires such qualification, except to the extent that the failure to be so qualified or be in good standing would not, singly or in the aggregate, have a material adverse effect on the Company and its subsidiaries, taken as a whole; all of the issued shares of capital stock or other equity interests of each subsidiary of the Company have been duly and validly authorized and issued, are fully paid and non-assessable and are owned directly or indirectly by the Company, free and clear of all liens, encumbrances, equities or claims (excluding, for the avoidance of doubt, any transfer restrictions arising under applicable securities laws).</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(f)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement has been duly authorized, executed and delivered by the Company.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(g)&nbsp;&nbsp;&nbsp;&nbsp;Each of the Warrant Repurchase Agreement and the Warrant Escrow Agreement has been duly authorized, executed and delivered by the Company, and constitutes a valid and binding agreement of the Company, enforceable in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, reorganization or other similar laws relating to or affecting the enforcement of creditors&#8217; rights generally and by general equitable principles, regardless of whether such enforceability is considered in a proceeding in equity or at law.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(h)&nbsp;&nbsp;&nbsp;&nbsp;The authorized capital stock of the Company conforms as to legal matters to the description thereof contained in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;The shares of Common Stock outstanding prior to the issuance of the Shares have been duly authorized and are validly issued, fully paid and non&#8209;assessable.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(j)&nbsp;&nbsp;&nbsp;&nbsp;The Shares have been duly authorized and, when issued, delivered and paid for in accordance with the terms of this Agreement, will be validly issued, fully paid and non&#8209;assessable, and the issuance of the Shares will not be subject to any preemptive or similar rights.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(k)&nbsp;&nbsp;&nbsp;&nbsp;The execution and delivery by the Company of, and the performance by the Company of its obligations under, this Agreement, the Warrant Repurchase Agreement and the Warrant Escrow Agreement will not contravene any provision of applicable law or the Amended and Restated Certificate of Incorporation or Amended and Restated Bylaws of the Company or any agreement or other instrument binding upon the Company or any of its subsidiaries that is material to the Company and its subsidiaries, taken as a whole, or any judgment, order or decree of any governmental body, agency or court having jurisdiction over the Company or any subsidiary, and no consent, approval, authorization or order of, or qualification with, any governmental body, agency or court is required for the performance by the Company of its obligations under this Agreement, the Warrant Repurchase Agreement or the Warrant Escrow Agreement, except such as may be required by the securities or Blue Sky laws of the various states in connection with the offer and sale of the Shares or repurchase of the Warrants.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(l)&nbsp;&nbsp;&nbsp;&nbsp;Neither the Company nor any of its subsidiaries is (i) in violation of its certificate of incorporation, by-laws or similar organizational document, (ii) in default in the performance or observance of any obligation, agreement, covenant or condition contained in any contract, indenture, mortgage, deed of trust, loan or credit agreement, note, lease or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which it or any of them may be bound or to which any of the properties or assets of the Company or any subsidiary is subject, except for such defaults that would not, singly or in the aggregate, have a material adverse effect on the Company and its subsidiaries, taken as a whole, or (iii) in violation of any (A) law, statute, rule, regulation, including, but not limited to: the Merchant Marine Act of 1920, also known as the Jones Act, as amended, the International Ship and Port Facility Security Code, an amendment to the Safety of Life at Sea Convention (1974/1988), Maritime Security Directive 104-6, the Occupational Safety and Health Act, the Death on the High Seas Act, the International Labour Organization's Maritime Labour Convention, 2006, and (B) judgment, order, writ or decree of any arbitrator, court, governmental body, regulatory body, administrative agency or other authority, body or agency having jurisdiction over the Company or any of its subsidiaries or any of their respective properties, assets or operations.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(m)&nbsp;&nbsp;&nbsp;&nbsp;There has not occurred any material adverse change, or any development involving a prospective material adverse change, in the condition, financial or otherwise, or in the earnings, business or operations of the Company and its subsidiaries, taken as a whole, from that set forth in the Time of Sale Prospectus.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(n)&nbsp;&nbsp;&nbsp;&nbsp;There are no legal or governmental proceedings pending or threatened to which the Company or any of its subsidiaries is a party or to which any of the properties of the Company or any of its subsidiaries is subject (i) other than proceedings accurately described in all material respects in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus and proceedings that would not, singly or in the aggregate, have a material adverse effect on the Company and its subsidiaries, taken as a whole, or on the power or ability of the Company to perform its obligations under this Agreement, the Warrant Repurchase Agreement and the Warrant Escrow Agreement or to consummate the transactions contemplated by each of the Registration Statement, the Time of Sale Prospectus and the Prospectus or (ii) that are required to be described in the Registration Statement, the Time of Sale Prospectus or the Prospectus and are not so described; and there are no statutes, regulations, contracts or other documents that are required to be described in the Registration Statement, the Time of Sale Prospectus or the Prospectus or to be filed as exhibits to the Registration Statement that are not described or filed as required.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(o)&nbsp;&nbsp;&nbsp;&nbsp;Each preliminary prospectus filed as part of the Registration Statement as originally filed or as part of any amendment thereto, or filed pursuant to Rule&nbsp;424 under the Securities Act, complied when so filed in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(p)&nbsp;&nbsp;&nbsp;&nbsp;The Company is not, and after giving effect to the offering and sale of the Shares and the application of the proceeds thereof as described in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus will not be, required to register as an &#8220;investment company&#8221; as such term is defined in the Investment Company Act of 1940, as amended.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(q)&nbsp;&nbsp;&nbsp;&nbsp;Neither the Company nor any affiliate of the Company has taken, nor will the Company or any affiliate take, directly or indirectly, any action which is designed, or would be expected, to cause or result in, or which constitutes, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Common Stock or to result in a violation of Regulation M under the Exchange Act.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(r)&nbsp;&nbsp;&nbsp;&nbsp;Each of the Company and its subsidiaries (1) holds all governmental licenses, authorizations, consents, permits and approvals required to conduct its business in the manner described or incorporated by reference in the Time of Sale Prospectus and the Prospectus, except to the extent the failure to hold any such governmental licenses, permits or other approvals (collectively, &#8220;<b>Governmental Licenses</b>&#8221;) would not reasonably be expected to have a material adverse effect and (2) has obtained all such Governmental Licenses as may be required for the operation of each vessel in compliance with all applicable laws, except to the extent that failure to having obtained such governmental licenses, authorizations, consents, permits and approvals would not reasonably be expected to have a material adverse effect. The Company and its subsidiaries are in compliance with the terms and conditions of all Governmental Licenses, except where the failure so to comply would not, singly or in the aggregate, reasonably be expected to have a material adverse effect. All of the Governmental Licenses are valid and in full force and effect, except where the invalidity of such Governmental Licenses or the failure of such Governmental Licenses to be in full force and effect would not, singly or in the aggregate, reasonably be expected to have a material adverse effect. Neither the Company nor any of its subsidiaries has received any written notice of proceedings relating to the revocation or modification of any Governmental Licenses which if the subject of an unfavorable decision, ruling or finding, would, singly or in the aggregate, reasonably be expected to have a material adverse effect.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(s)&nbsp;&nbsp;&nbsp;&nbsp;The Company and each of its subsidiaries (i) are in compliance with any and all applicable foreign, federal, state and local laws and regulations relating to the protection of human, occupational or community health and safety, the environment, sustainability, climate change, natural resources, wildlife, habitats, ecosystems, or hazardous or toxic substances or wastes, pollutants or contaminants, including, without limitation, petroleum or petroleum products, asbestos-containing materials, radioactive substances, polychlorinated biphenyls, per- and polyfluoroalkyl substances, greenhouse gases and mold (&#8220;<b>Environmental Laws</b>&#8221;), (ii) have received all permits, licenses, registrations or other approvals required of them under applicable Environmental Laws to conduct their respective businesses, (iii) are in compliance with all terms and conditions of any such permit, license, registration or approval, (iv) have not received any pending or threatened administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices of noncompliance or violation, investigations or proceedings relating to any Environmental Law or any permit, registration, license or approval, and (v) are not aware of any events or circumstances that would reasonably be expected to form the basis of an order for clean-up or remediation, or an action, suit or proceeding by any private party or governmental agency, against or affecting the Company or any of its subsidiaries relating to any Environmental Laws or any permit, license, registration or approval thereunder, except, in the case of any and all of the foregoing, as would not, singly or in the aggregate, have a material adverse effect on the Company and its subsidiaries, taken as a whole.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(t)&nbsp;&nbsp;&nbsp;&nbsp;There are no costs or liabilities associated with Environmental Laws (including, without limitation, any capital or operating expenditures required for clean&#8209;up, closure of properties or compliance with Environmental Laws or any permit, license, registration or approval, any related constraints on operating activities and any potential liabilities to third parties) which would, singly or in the aggregate, have a material adverse effect on the Company and its subsidiaries, taken as a whole.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(u)&nbsp;&nbsp;&nbsp;&nbsp;There are no contracts, agreements or understandings between the Company and any person granting such person the right to require the Company to file a registration statement under the Securities Act with respect to any securities of the Company or to require the Company to include such securities with the Shares registered pursuant to the Registration Statement.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(v)&nbsp;&nbsp;&nbsp;&nbsp;(i) None of the Company or any of its subsidiaries or affiliates, or any director, officer, or employee thereof, or, to the Company&#8217;s knowledge, any agent or representative of the Company or of any of its subsidiaries or affiliates, has taken or will take any action in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment, giving or receipt of money, property, gifts or anything else of value, directly or indirectly, to any government official (including any officer or employee of a government or government-owned or controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office) (&#8220;<b>Government Official</b>&#8221;) in order to influence official action, or to any person in violation of any applicable anti-corruption laws; (ii) the Company and each of its subsidiaries and affiliates have conducted their businesses in compliance with applicable anti-corruption laws and have instituted and maintained and will continue to maintain policies and procedures reasonably designed to promote and achieve compliance with such laws and with the representations and warranties contained herein; and (iii) neither the Company nor any of its subsidiaries will use, directly or indirectly, the proceeds of the offering in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any person in violation of any applicable anti-corruption laws.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(w)&nbsp;&nbsp;&nbsp;&nbsp;The operations of the Company and each of its subsidiaries are and have been conducted at all times in material compliance with all applicable financial recordkeeping and reporting requirements, including those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), and the applicable anti-money laundering statutes of jurisdictions where the Company and each of its subsidiaries conduct business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the &#8220;<b>Anti-Money Laundering Laws</b>&#8221;), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the best knowledge of the Company, threatened. The Company and each of its subsidiaries and affiliates have instituted and maintained and will continue to maintain policies and procedures reasonably designed to promote and achieve compliance with Anti-Money Laundering Laws.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(x)&nbsp; &nbsp; &nbsp; (i) None of the Company, any of its subsidiaries, or any director, officer, or employee thereof, or, to the Company&#8217;s knowledge, any agent, affiliate or representative of the Company or any of its subsidiaries, is an individual or entity (&#8220;<b>Person</b>&#8221;) that is, or is owned or controlled by one or more Persons that are:</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 54pt; text-indent: 36pt;">(A) the subject of any sanctions administered or enforced by the U.S. Department of the Treasury&#8217;s Office of Foreign Assets Control , the United Nations Security Council, the European Union, Her Majesty&#8217;s Treasury, or other relevant sanctions authority (collectively, &#8220;<b>Sanctions</b>&#8221;), or</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 54pt; text-indent: 36pt;">(B) located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Cuba, Iran, North Korea, Syria, Crimea, the so-called Donetsk People&#8217;s Republic, the so-called Luhansk People&#8217;s Republic or any other territory or region of Ukraine identified pursuant to Executive Order 14065).</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 63pt;">(ii) The Company will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person:</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 54pt; text-indent: 36pt;">(A) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions; or</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 54pt; text-indent: 36pt;">(B) in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise).</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 63pt;">(iii) The Company and each of its subsidiaries have not knowingly engaged in, are not now knowingly engaged in, and will not engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(y)&nbsp;&nbsp;&nbsp;&nbsp;Subsequent to the respective dates as of which information is given in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus, (i) the Company and its subsidiaries, taken as a whole, have not incurred any material liability or obligation, direct or contingent, nor entered into any material transaction; (ii) the Company has not purchased any of its outstanding capital stock, nor declared, paid or otherwise made any dividend or distribution of any kind on its capital stock other than ordinary and customary dividends; and (iii) there has not been any material change in the capital stock, short-term debt or long-term debt of the Company and its subsidiaries, taken as a whole.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(z)&nbsp;&nbsp;&nbsp;&nbsp;The Company and each of its subsidiaries have good and marketable title in fee simple to all real property and good and marketable title to all personal property owned by them which is material to the business of the Company and its subsidiaries, in each case free and clear of all liens, encumbrances and defects except such as do not materially affect the value of such property and do not interfere with the use made and proposed to be made of such property by the Company and its subsidiaries; and any real property and buildings held under lease by the Company and its subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as are not material and do not interfere with the use made and proposed to be made of such property and buildings by the Company and its subsidiaries.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(aa)&nbsp;&nbsp;&nbsp;&nbsp;The Company and its subsidiaries legally and beneficially own each of the vessels owned by them free and clear of all liens and encumbrances.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(bb)&nbsp;&nbsp;&nbsp;&nbsp;(i) The Company and its subsidiaries own or possess, have a valid license to, or can acquire on reasonable terms, all patents, patent applications, statutory invention rights, community designs, invention disclosures, rights in utility models and industrial designs, inventions, registered and unregistered copyrights (including copyrights in software), trademarks, service marks, business names, trade names, logos, slogans, trade dress, design rights, Internet domain names, social media accounts, any other designations of source or origin, intellectual property rights in technology, software, data and know how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures), and any applications (including provisional applications), registrations, or renewals for any of the foregoing, together with the goodwill associated with any of the foregoing, rights to publicity and privacy and/or other intellectual property (collectively, &#8220;<b>Intellectual Property Rights</b>&#8221;) used in or reasonably necessary to the conduct of their businesses now operated by the Company and its subsidiaries and as proposed to be operated as described in the Registration Statement, Prospectus and Time of Sale Prospectus; (ii) the Intellectual Property Rights owned by the Company and its subsidiaries and, to the Company&#8217;s knowledge, the Intellectual Property Rights licensed to the Company and its subsidiaries, are valid, subsisting and enforceable; (iii) all Intellectual Property Rights owned by the Company and its subsidiaries have been duly maintained and are in full force and effect and all filing actions and registration, maintenance, annuity and renewal fees needed to be taken, met or paid in order to prosecute or maintain all Intellectual Property Rights owned by the Company and its subsidiaries have been timely taken, met or paid and there are no material defects in, including in connection with the filing or prosecuting of, any Intellectual Property Rights owned by the Company and its subsidiaries; (iv) there is no pending or, to the Company&#8217;s knowledge, threatened action, suit, proceeding or claim by others challenging the Company and its subsidiaries&#8217; rights in or to, or the validity, ownership, registrability, scope or enforceability of any Intellectual Property Rights owned by or licensed to the Company and its subsidiaries, and the Company and its subsidiaries are unaware of any facts or circumstances which would form a reasonable basis for any such claim; (v) neither the Company nor any of its subsidiaries has received any notice alleging any infringement, misappropriation or other violation of Intellectual Property Rights which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would have a material adverse effect on the Company and its subsidiaries, taken as a whole, and the Company and its subsidiaries are unaware of any facts or circumstances which would form a reasonable basis for any such claim; (vi) to the Company&#8217;s knowledge, no third party is infringing, misappropriating or otherwise violating, or has infringed, misappropriated or otherwise violated, any Intellectual Property Rights owned by the Company; (vii) to the Company&#8217;s knowledge, neither the Company nor any of its subsidiaries infringes, misappropriates or otherwise violates, or has infringed, misappropriated or otherwise violated, any Intellectual Property Rights; (viii) all employees or contractors who are, were or are expected to be engaged in the development of Intellectual Property Rights for or on behalf of the Company or any subsidiary of the Company have executed a valid, written invention assignment agreement whereby such employees or contractors presently and effectively assign all of their right, title and interest in and to such Intellectual Property Rights to the Company or the applicable subsidiary, and to the Company&#8217;s knowledge, no such agreement has been breached or violated; (ix) the Company and its subsidiaries use, and have used, commercially reasonable efforts to appropriately maintain all information intended to be maintained as a trade secret and other confidential Intellectual Property Rights owned by the Company and its subsidiaries, and, to the Company&#8217;s knowledge, such information has not been compromised or disclosed to or accessed by any third party except pursuant to appropriate nondisclosure and confidentiality agreements; (x) the Company and its subsidiaries have complied in all material respects with the terms of each agreement pursuant to which Intellectual Property Rights have been licensed to the Company or its subsidiaries, and all such agreements are in full force and effect; (xi) neither the Company not any of its subsidiaries has received any written notice alleging any such noncompliance and are unaware of any facts or circumstances which would form a reasonable basis for any such claim; and (xii) no Intellectual Property Rights have been obtained or are being used by the Company or its subsidiaries in violation of any material contractual obligations binding on the Company or such subsidiaries or, to the Company&#8217;s knowledge, in violation of any contractual rights of any person.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(cc)&nbsp;&nbsp;&nbsp;&nbsp;(i) The Company and its subsidiaries use and have used any and all software and other materials distributed under a &#8220;free,&#8221; &#8220;open source,&#8221; or similar licensing model (including but not limited to the MIT License, Apache License, GNU General Public License, GNU Lesser General Public License and GNU Affero General Public License) (&#8220;<b>Open Source Software</b>&#8221;) in compliance with all license terms applicable to such Open Source Software; and (ii) neither the Company nor any of its subsidiaries uses or distributes or has used or distributed any Open Source Software in any manner that requires or has required (A) the Company or any of its subsidiaries to permit reverse engineering of any software code or other technology owned by the Company or any of its subsidiaries or (B) any software code or other technology owned by the Company or any of its subsidiaries to be (1) disclosed or distributed in source code form, (2) licensed for the purpose of making derivative works or (3) redistributed at no charge. None of the software developed or owned by the Company or its subsidiaries is currently held in escrow or subject to any escrow obligation or any condition, obligation or other requirement that it be licensed pursuant to a free or Open Source Software license or that the source code for such software be delivered, disclosed, licensed or otherwise made available to any third party.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(dd)&nbsp;&nbsp;&nbsp;&nbsp;(i) The Company and each of its subsidiaries have complied and are presently in compliance with all internal and external privacy policies, contractual obligations, industry standards, applicable laws, statutes, judgments, orders, rules and regulations of any court or arbitrator or other governmental or regulatory authority and any other legal obligations, in each case, relating to the collection, use, transfer, import, export, storage, protection, disposal and disclosure by the Company or any of its subsidiaries of personal, personally identifiable, household, sensitive, confidential or regulated data (&#8220;<b>Data Security Obligations</b>&#8221;, and such data, &#8220;<b>Data</b>&#8221;); (ii) the Company has not received any notification of or complaint regarding, and is unaware of any other facts that, individually or in the aggregate, would reasonably indicate, non-compliance with any Data Security Obligation; and (iii) of there is no action, suit or proceeding by or before any court or governmental agency, authority or body pending or threatened alleging non-compliance with any Data Security Obligation.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(ee)&nbsp;&nbsp;&nbsp;&nbsp;The Company and each of its subsidiaries have taken all technical and organizational measures, including implementing appropriate controls, policies, procedures and technological safeguards, necessary to protect the information technology systems and Data used in connection with the operation of the Company&#8217;s and its subsidiaries&#8217; businesses. Without limiting the foregoing, the Company and its subsidiaries have used reasonable efforts to establish and maintain, and have established, maintained, implemented and complied with, reasonable information technology, information security, cyber security and data protection controls, policies and procedures, including oversight, access controls, encryption, technological and physical safeguards and business continuity/disaster recovery and security plans that are designed to protect against and prevent breach, destruction, loss, misappropriation, modification, unauthorized distribution, use, access, disablement, misappropriation or modification, or other compromise or misuse of or relating to any information technology system or Data used in connection with the operation of the Company&#8217;s and its subsidiaries&#8217; businesses (&#8220;<b>Breach</b>&#8221;). There has been no such Breach, and the Company and its subsidiaries have not been notified of and have no knowledge of any event or condition that would reasonably be expected to result in, any such Breach, and, to the Company&#8217;s knowledge, no grounds exist for an individual to claim, compensation from the Company or any of its subsidiaries for any such Breach.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(ff)&nbsp;&nbsp;&nbsp;&nbsp;No material labor dispute with the employees of the Company or any of its subsidiaries exists, or, to the knowledge of the Company, is imminent; and the Company is not aware of any existing, threatened or imminent labor disturbance by the employees of any of its principal suppliers, manufacturers or contractors that could, singly or in the aggregate, have a material adverse effect on the Company and its subsidiaries, taken as a whole.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(gg)&nbsp;&nbsp;&nbsp;&nbsp;The Company and each of its subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are, in the reasonable judgment of the Company, prudent and customary in the businesses in which they are engaged; neither the Company nor any of its subsidiaries has been refused any insurance coverage sought or applied for; and neither the Company nor any of its subsidiaries has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not, singly or in the aggregate, have a material adverse effect on the Company and its subsidiaries, taken as a whole.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(hh)&nbsp;&nbsp;&nbsp;&nbsp;The Company and each of its subsidiaries have filed all federal, state, local and foreign tax returns required to be filed through the date of this Agreement or have requested extensions thereof (except where the failure to file would not, singly or in the aggregate, have a material adverse effect on the Company and its subsidiaries, taken as a whole) and have paid all taxes required to be paid thereon (except for cases in which the failure to file or pay would not, singly or in the aggregate, have a material adverse effect on the Company and its subsidiaries, taken as a whole, or, except as currently being contested in good faith and for which reserves required by generally accepted accounting principles (&#8220;<b>U.S. GAAP</b>&#8221;) have been created in the financial statements of the Company), and no tax deficiency has been determined adversely to the Company or any of its subsidiaries which, singly or in the aggregate, has had (nor does the Company nor any of its subsidiaries have any notice or knowledge of any tax deficiency which could reasonably be expected to be determined adversely to the Company or its subsidiaries and which could reasonably be expected to have) a material adverse effect on the Company and its subsidiaries, taken as a whole. The charges, accruals and reserves on the books of the Company in respect of any income and corporation tax liability for any years not finally determined are adequate to meet any assessments or re-assessments for additional income tax for any years not finally determined, except to the extent of any inadequacy that would not, singly or in the aggregate, have a material adverse effect.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(ii)&nbsp;&nbsp;&nbsp;&nbsp;(i) The financial statements of the Company included or incorporated by reference in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus, together with the related schedules and notes thereto, comply as to form in all material respects with the applicable accounting requirements of the Securities Act and present fairly the consolidated financial position of the Company and its subsidiaries as of the dates shown and its results of operations and cash flows for the periods shown, and such financial statements have been prepared in conformity with U.S. GAAP applied on a consistent basis throughout the periods covered thereby except for any normal year-end adjustments in the Company&#8217;s quarterly financial statements. (ii) The financial statements of Tidewater Offshore Holdings Limited, a limited company organized under the laws of Bermuda formerly known as Swire Pacific Offshore Holdings Limited (&#8220;<b>Tidewater Bermuda</b>&#8221;) included or incorporated by reference in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus, together with the related schedules and notes thereto, comply as to form in all material respects with the applicable accounting requirements of the Securities Act and present fairly the consolidated financial position of Tidewater Bermuda and its subsidiaries as of the dates shown and its results of operations and cash flows for the periods shown, and such financial statements have been prepared in conformity with the International Financial Reporting Standards as promulgated by the International Accounting Standards Board applied on a consistent basis throughout the periods covered thereby except for any normal year-end adjustments in the Company&#8217;s quarterly financial statements. (iii) The historical financial information included in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus has been derived from the accounting records of the Company or Tidewater Bermuda, as applicable, and their respective consolidated subsidiaries and presents fairly in all material respects the information shown thereby for the Company and Tidewater Bermuda on a basis that is, except as otherwise disclosed therein, consistent with that of the audited financial statements contained or incorporated by reference in the Time of Sale Prospectus. (iv) The pro forma financial statements and the related notes thereto included in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus present fairly the information shown therein, have been prepared in accordance with the Commission&#8217;s rules and guidelines with respect to pro forma financial statements and have been properly compiled on the bases described therein, and the assumptions used in the preparation thereof are reasonable and the adjustments used therein are appropriate to give effect to the transactions and circumstances referred to therein. (v) The statistical, industry-related and market-related data included in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus are based on or derived from sources which the Company reasonably and in good faith believes are reliable and accurate and such data is consistent with the sources from which they are derived, in each case in all material respects.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(jj)&nbsp;&nbsp;&nbsp;&nbsp;There is and has been no failure on the part of the Company or any of the Company&#8217;s directors or officers, in their capacities as such, to comply in all material respects with any provision of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith, including Section 402 related to loans and Sections 302 and 906 related to certifications</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(kk)&nbsp;&nbsp;&nbsp;&nbsp;PricewaterhouseCoopers LLP, who has certified certain financial statements of the Company and Tidewater Bermuda and their respective subsidiaries and delivered its report with respect to the audited consolidated financial statements, pro forma financial statements and schedules filed with the Commission as part of the Registration Statement and included in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus, is an independent registered public accounting firm with respect to the Company within the meaning of the Securities Act and the applicable rules and regulations thereunder adopted by the Commission and the Public Company Accounting Oversight Board (United States).</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(ll)&nbsp;&nbsp;&nbsp;&nbsp;Deloitte &amp; Touche LLP, who has certified certain financial statements of the Company and its subsidiaries and delivered its report with respect to the audited consolidated financial statements and schedules filed with the Commission as part of the Registration Statement and included in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus, is an independent registered public accounting firm with respect to the Company within the meaning of the Securities Act and the applicable rules and regulations thereunder adopted by the Commission and the Public Company Accounting Oversight Board (United States).</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(mm)&nbsp;&nbsp;&nbsp;&nbsp;The Company and each of its subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management&#8217;s general or specific authorizations; (ii)&nbsp;transactions are recorded as necessary to permit preparation of financial statements in conformity with U.S. GAAP and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management&#8217;s general or specific authorization; (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences; and (v) the interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement is accurate. The Company&#8217;s internal control over financial reporting is effective and since the end of the Company&#8217;s most recent audited fiscal year, there has been (i) no material weakness in the Company&#8217;s internal control over financial reporting (whether or not remediated) and (ii) no change in the Company&#8217;s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company&#8217;s internal control over financial reporting.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(nn)&nbsp;&nbsp;&nbsp;&nbsp;The Company maintains an effective system of &#8220;disclosure controls and procedures&#8221; (as defined in Rule 13a-15(e) under the Exchange Act). The Company has carried out evaluations of the effectiveness of its disclosure controls and procedures as required by Rule 13a-15 of the Exchange Act.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(oo)&nbsp;&nbsp;&nbsp;&nbsp;The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement fairly presents the information called for in all material respects and has been prepared in accordance with the Commission&#8217;s rules and guidelines applicable thereto.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(pp)&nbsp;&nbsp;&nbsp;&nbsp;The Company (i) has not alone engaged in any Testing-the-Waters Communication with any person and (ii) has not authorized anyone other than the Underwriter to engage in Testing-the-Waters Communications. The Company reconfirms that the Underwriter has been authorized to act on its behalf in undertaking Testing-the-Waters Communications. The Company has not distributed any Testing-the-Waters Communication that is a written communication within the meaning of Rule 405 under the Securities Act. &#8220;<b>Testing-the-Waters Communication</b>&#8221; means any communication with potential investors undertaken in reliance on Section 5(d) or Rule 163B of the Securities Act.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(qq)&nbsp;&nbsp;&nbsp;&nbsp;The Company and its subsidiaries and any &#8220;Employee Benefit Plan&#8221; (as defined under the Employee Retirement Income Security Act of 1974, as amended, and the regulations and published interpretations thereunder (collectively, &#8220;<b>ERISA</b>&#8221;)) established or maintained by the Company, its subsidiaries or their &#8220;ERISA Affiliates&#8221; (as defined below) (each, a &#8220;<b>Plan</b>&#8221;) is and has been operated in compliance with its terms and all applicable laws, including ERISA and the Internal Revenue Code of 1986, as amended, and the regulations and published interpretations thereunder (the &#8220;<b>Code</b>&#8221;), in all material respects. No &#8220;reportable event&#8221; (as defined under ERISA) has occurred or is reasonably expected to occur with respect to any Plan and no Plan, if terminated, would have any &#8220;amount of unfunded benefit liabilities&#8221; (as defined under ERISA), as the fair market value of the assets under each Plan (excluding for these purposes accrued but unpaid contributions) exceeds the present value of all benefits accrued under such Plan (determined based on those assumptions used to fund such Plan). Neither the Company, its subsidiaries nor any of their ERISA Affiliates has incurred or reasonably expects to incur any liability under (i) Title IV of ERISA with respect to termination of, or withdrawal from, any Plan, (ii) Sections 412 and 430, 4971, 4975 or 4980B of the Code or (iii) Sections 302 and 303, 406, 4063 and 4064 of ERISA. Each Plan that is intended to be qualified under Section 401(a) of the Code is so qualified, and nothing has occurred, whether by action or failure to act, that would reasonably be expected to cause the loss of such qualification. There is no pending audit or investigation by the Internal Revenue Service, the U.S. Department of Labor, the Pension Benefit Guaranty Corporation or any other governmental or other regulatory entity or agency with respect to any Plan that could reasonably be expected to result in liability to the Company or any of its subsidiaries. Neither the Company nor any of its subsidiaries have any &#8220;accumulated post-retirement benefit obligations&#8221; (within the meaning of Statement of Financial Accounting Standards 106). &#8220;<b>ERISA Affiliate</b>&#8221; means, with respect to the Company or any of its subsidiaries, any member of any group of organizations described in Sections 414(b), (c), (m) or (o) of the Code of which the Company or such subsidiary is a member.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">2.<i>&nbsp;&nbsp;&nbsp;&nbsp;Agreements to Sell and Purchase. </i>The Company hereby agrees to sell to the Underwriter, and the Underwriter, upon the basis of the representations and warranties herein contained, but subject to the terms and conditions hereinafter stated, agrees to purchase from the Company the number of Firm Shares set forth in Schedule&nbsp;I hereto opposite its name at the purchase price set forth in Schedule I hereto (the &#8220;<b>Purchase Price</b>&#8221;).</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">On the basis of the representations and warranties contained in this Agreement, and subject to its terms and conditions, the Company agrees to sell to the Underwriter the Additional Shares, and the Underwriter shall have the right to purchase up to the number of Additional Shares set forth in Schedule I hereto at the Purchase Price, provided, however, that the amount paid by the Underwriter for any Additional Shares shall be reduced by an amount per share equal to any dividends declared by the Company and payable on the Firm Shares but not payable on such Additional Shares. The Underwriter may exercise this right in whole or from time to time in part by giving written notice not later than 30 days after the date of the Prospectus. Any exercise notice shall specify the number of Additional Shares to be purchased by the Underwriter and the date on which such Additional Shares are to be purchased. Each purchase date (an &#8220;<b>Option Closing Date</b>&#8221;) must be at least one business day after the written notice is given and may not be earlier than the Closing Date (as defined in Section 4) or later than ten business days after the date of such notice. Additional Shares may be purchased as provided in Section&nbsp;4 hereof solely for the purpose of covering sales of shares in excess of the number of the Firm Shares.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">3.<i>&nbsp;&nbsp;&nbsp;&nbsp;Public Offering</i>. The Company is advised by the Underwriter that the Underwriter proposes to make a public offering of the Shares as soon after the Registration Statement and this Agreement have become effective as in the Underwriter&#8217;s judgment is advisable. The Company is further advised by the Underwriter that the Shares are to be offered to the public upon the terms set forth in the Prospectus.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">4.<i>&nbsp;&nbsp;&nbsp;&nbsp;Payment and Delivery. </i>Payment for the Firm Shares shall be made to the Company in Federal or other funds immediately available in New York City on the closing date and time set forth in Schedule I hereto, or at such other time on the same or such other date, not later than the fifth business day thereafter, as may be designated in writing by the Underwriter. The time and date of such payment are hereinafter referred to as the &#8220;<b>Closing Date</b>.&#8221;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">Payment for any Additional Shares shall be made to the Company in Federal or other funds immediately available in New York City on the date specified in the corresponding notice described in Section&nbsp;2 or at such other time on the same or on such other date, in any event not later than the tenth business day thereafter, as may be designated in writing by the Underwriter.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">The Firm Shares and Additional Shares shall be registered in such names and in such denominations as the Underwriter shall request in writing not later than one full business day prior to the Closing Date or the applicable Option Closing Date, as the case may be, for the account of the Underwriter, with any transfer taxes payable in connection with the transfer of the Shares to the Underwriter duly paid, against payment of the Purchase Price therefor.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">5.<i>&nbsp;&nbsp;&nbsp;&nbsp;Conditions to the Underwriter</i>&#8217;<i>s Obligations</i>. The several obligations of the Underwriter are subject to the following conditions:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;Subsequent to the execution and delivery of this Agreement and prior to the Closing Date:</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 22pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;no order suspending the effectiveness of the Registration Statement shall be in effect, and no proceeding for such purpose or pursuant to Section 8A under the Securities Act shall be pending before or threatened by the Commission;</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 22pt;">(ii)&nbsp;&nbsp;&nbsp;&nbsp;there shall not have occurred any downgrading, nor shall any notice have been given of any intended or potential downgrading or of any review for a possible change that does not indicate the direction of the possible change, in the rating accorded any of the securities of the Company or any of its subsidiaries by any &#8220;nationally recognized statistical rating organization,&#8221; as such term is defined in Section 3(a)(62) of the Exchange Act; and</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 22pt;">(iii)&nbsp;&nbsp;&nbsp;&nbsp;there shall not have occurred any change, or any development involving a prospective change, in the condition, financial or otherwise, or in the earnings, business or operations of the Company and its subsidiaries, taken as a whole, from that set forth in the Time of Sale Prospectus that, in the Underwriter&#8217;s judgment, is material and adverse and that makes it, in the Underwriter&#8217;s judgment, impracticable to market the Shares on the terms and in the manner contemplated in the Time of Sale Prospectus.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;The Underwriter shall have received on the Closing Date a certificate, dated the Closing Date and signed by an executive officer of the Company, to the effect set forth in Sections&nbsp;5(a)(i) and 5(a)(ii) above and to the effect that the representations and warranties of the Company contained in this Agreement are true and correct as of the Closing Date and that the Company has complied with all of the agreements and satisfied all of the conditions on its part to be performed or satisfied hereunder on or before the Closing Date.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">The officer signing and delivering such certificate may rely upon the best of his or her knowledge as to proceedings threatened.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;The Underwriter shall have received on the Closing Date (i) an opinion and negative assurance letter of Norton Rose Fulbright US LLP, outside counsel for the Company, dated the Closing Date, and (ii) an opinion of MJM Limited, Bermuda counsel for Tidewater Bermuda, each dated the Closing Date in form and substance reasonably satisfactory to the Underwriter.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(d)&nbsp;&nbsp;&nbsp;&nbsp;The Underwriter shall have received on the Closing Date an opinion and negative assurance letter of Shearman &amp; Sterling LLP, counsel for the Underwriter, dated the Closing Date, in form and substance reasonably satisfactory to the Underwriter.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">With respect to the negative assurance letters to be delivered pursuant to Sections 5(c)(i) and 5(d), Norton Rose Fulbright US LLP and Shearman &amp; Sterling LLP may state that their opinions and beliefs are based upon their participation in the preparation of the Registration Statement, the Time of Sale Prospectus, the Prospectus and any amendments or supplements thereto and review and discussion of the contents thereof, but are without independent check or verification, except as specified.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">The opinion of Norton Rose Fulbright US LLP described in Section&nbsp;5(a)(i) above shall be rendered to the Underwriter at the request of the Company and shall so state therein.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(e)&nbsp;&nbsp;&nbsp;&nbsp;The Underwriter shall have received, on each of the date hereof and the Closing Date, a letter dated the date hereof or the Closing Date, as the case may be, in form and substance reasonably satisfactory to the Underwriter, from PricewaterhouseCoopers LLP, independent public accountants, containing statements and information of the type ordinarily included in accountants&#8217; &#8220;comfort letters&#8221; to underwriters with respect to the financial statements and certain financial information (including pro forma financial information) of the Company contained in the Registration Statement, the Time of Sale Prospectus and the Prospectus; <i>provided</i> that the letter delivered on the Closing Date shall use a &#8220;cut&#8209;off date&#8221; not earlier than the date hereof.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(f)&nbsp;&nbsp;&nbsp;&nbsp;The Underwriter shall have received, on each of the date hereof and the Closing Date, a letter dated the date hereof or the Closing Date, as the case may be, in form and substance reasonably satisfactory to the Underwriter, from Deloitte &amp; Touche LLP, independent public accountants, containing statements and information of the type ordinarily included in accountants&#8217; &#8220;comfort letters&#8221; to underwriters with respect to the financial statements and certain financial information contained in the Registration Statement, the Time of Sale Prospectus and the Prospectus; <i>provided</i> that the letter delivered on the Closing Date shall use a &#8220;cut&#8209;off date&#8221; not earlier than the date hereof.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(g)&nbsp;&nbsp;&nbsp;&nbsp;The Underwriter shall have received, on each of the date hereof and the Closing Date, a letter dated the date hereof or the Closing Date, as the case may be, in form and substance reasonably satisfactory to the Underwriter, from PricewaterhouseCoopers LLP, independent public accountants, containing statements and information of the type ordinarily included in accountants&#8217; &#8220;comfort letters&#8221; to underwriters with respect to the financial statements and certain financial information (including pro forma financial information) of Tidewater Bermuda contained in the Registration Statement, the Time of Sale Prospectus and the Prospectus; <i>provided</i> that the letter delivered on the Closing Date shall use a &#8220;cut&#8209;off date&#8221; not earlier than the date hereof.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(h)&nbsp;&nbsp;&nbsp;&nbsp;The &#8220;lock&#8209;up&#8221; agreements, each substantially in the form of Exhibit A hereto, executed by certain shareholders, officers and directors of the Company relating to restrictions on sales and certain other dispositions of shares of Common Stock or certain other securities, delivered to the Underwriter on or before the date hereof, shall be in full force and effect on the Closing Date.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;The Shares shall have been approved for listing on the New York Stock Exchange (&#8220;<b>NYSE</b>&#8221;), subject only to official notice of issuance.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(j)&nbsp;&nbsp;&nbsp;&nbsp;The Underwriter shall have received on each of the date hereof and the Closing Date, a Chief Financial Officer&#8217;s certificate, dated the date hereof or the Closing Date, and signed on behalf of the Company by the Chief Financial Officer of the Company, in form and substance reasonably satisfactory to the Underwriter.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(k)&nbsp;&nbsp;&nbsp;&nbsp;(i) The Warrant Repurchase Agreement and the Warrant Escrow Agreement shall have been executed by the Company and its relevant counterparties with the terms described in the Time of Sale Prospectus and the Prospectus concurrently with the execution of this Agreement and (ii) the Company shall repurchase the Warrants from Banyan substantially concurrently with the closing of this offering on the Closing Date and the Option Closing Date, as the case may be. The Underwriter shall have received on the date hereof executed copies of the Warrant Repurchase Agreement and the Warrant Escrow Agreement.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(l)&nbsp;&nbsp;&nbsp;&nbsp;The obligation of the Underwriter to purchase Additional Shares hereunder are subject to the delivery to the Underwriter on the applicable Option Closing Date of the following:</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 22pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;a certificate, dated the Option Closing Date and signed by an executive officer of the Company, confirming that the certificate delivered on the Closing Date pursuant to Section 5(b) hereof remains true and correct as of such Option Closing Date;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: -9pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 22pt;">(ii)&nbsp;&nbsp;&nbsp;&nbsp;an opinion and negative assurance letter of Norton Rose Fulbright US LLP, outside counsel for the Company, dated the Option Closing Date, relating to the Additional Shares to be purchased on such Option Closing Date and otherwise to the same effect as the opinion required by Section 5(c)(i) hereof;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: -9pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 22pt;">(iii)&nbsp;&nbsp;&nbsp;&nbsp;an opinion of MJM Limited, Bermuda counsel for Tidewater Bermuda, dated the Option Closing Date, to the same effect as the opinion required by Section 5(c)(ii) hereof;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 22pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 22pt;">(iv)&nbsp;&nbsp;&nbsp;&nbsp;an opinion and negative assurance letter of Shearman &amp; Sterling LLP, counsel for the Underwriter, dated the Option Closing Date, relating to the Additional Shares to be purchased on such Option Closing Date and otherwise to the same effect as the opinion required by Section 5(d) hereof;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: -9pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 22pt;">(v)&nbsp;&nbsp;&nbsp;&nbsp;a letter dated the Option Closing Date, in form and substance satisfactory to the Underwriter, from PricewaterhouseCoopers LLP, independent public accountants, substantially in the same form and substance as the letter furnished to the Underwriter pursuant to Section 5(e) hereof; <i>provided</i> that the letter delivered on the Option Closing Date shall use a &#8220;cut-off date&#8221; not earlier than two business days prior to such Option Closing Date;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: -9pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 22pt;">(vi)&nbsp;&nbsp;&nbsp;&nbsp;a letter dated the Option Closing Date, in form and substance satisfactory to the Underwriter, from Deloitte &amp; Touche LLP, independent public accountants, substantially in the same form and substance as the letter furnished to the Underwriter pursuant to Section 5(f) hereof; <i>provided</i> that the letter delivered on the Option Closing Date shall use a &#8220;cut-off date&#8221; not earlier than two business days prior to such Option Closing Date;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: -9pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 22pt;">(vii)&nbsp;&nbsp;&nbsp;&nbsp;a letter dated the Option Closing Date, in form and substance satisfactory to the Underwriter, from PricewaterhouseCoopers LLP, independent public accountants, substantially in the same form and substance as the letter furnished to the Underwriter pursuant to Section 5(g) hereof; <i>provided</i> that the letter delivered on the Option Closing Date shall use a &#8220;cut-off date&#8221; not earlier than two business days prior to such Option Closing Date;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 22pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 22pt;">(viii)&nbsp;&nbsp;&nbsp;&nbsp;a Chief Financial Officer&#8217;s certificate, dated the Option Closing Date and signed on behalf of the Company by the Chief Financial Officer of the Company, in substantially the same form and substance as the certificate required by Section 5(j) hereof; and</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 22pt;">(ix)&nbsp;&nbsp;&nbsp;&nbsp;such other documents as the Underwriter may reasonably request with respect to the good standing of the Company, the due authorization and issuance of the Additional Shares to be sold on such Option Closing Date and other matters related to the issuance of such Additional Shares.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">6.<i>&nbsp;&nbsp;&nbsp;&nbsp;Covenants of the Company</i>. The Company covenants with the Underwriter as follows:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;To furnish to the Underwriter, without charge, a signed copy of the Registration Statement (including exhibits thereto and documents incorporated by reference therein) and to deliver the Underwriter during the period mentioned in Section&nbsp;6(e) or 6(f) below, as many copies of the Time of Sale Prospectus, the Prospectus, any documents incorporated by reference therein and any supplements and amendments thereto or to the Registration Statement as the Underwriter may reasonably request.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;Before amending or supplementing the Registration Statement, the Time of Sale Prospectus or the Prospectus, to furnish to the Underwriter a copy of each such proposed amendment or supplement and not to file any such proposed amendment or supplement to which the Underwriter reasonably objects.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;To furnish to the Underwriter a copy of each proposed free writing prospectus to be prepared by or on behalf of, used by, or referred to by the Company and not to use or refer to any proposed free writing prospectus to which the Underwriter reasonably objects.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(d)&nbsp;&nbsp;&nbsp;&nbsp;Not to take any action that would result in the Underwriter or the Company being required to file with the Commission pursuant to Rule 433(d) under the Securities Act a free writing prospectus prepared by or on behalf of the Underwriter that the Underwriter otherwise would not have been required to file thereunder.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(e)&nbsp;&nbsp;&nbsp;&nbsp;If the Time of Sale Prospectus is being used to solicit offers to buy the Shares at a time when the Prospectus is not yet available to prospective purchasers and any event shall occur or condition exist as a result of which it is necessary to amend or supplement the Time of Sale Prospectus in order to make the statements therein, in the light of the circumstances, not misleading, or if any event shall occur or condition exist as a result of which the Time of Sale Prospectus conflicts with the information contained in the Registration Statement then on file, or if, in the opinion of counsel for the Underwriter, it is necessary to amend or supplement the Time of Sale Prospectus to comply with applicable law, forthwith to prepare, file with the Commission and furnish, at its own expense, to the Underwriter and to any dealer upon request, either amendments or supplements to the Time of Sale Prospectus so that the statements in the Time of Sale Prospectus as so amended or supplemented will not, in the light of the circumstances when the Time of Sale Prospectus is delivered to a prospective purchaser, be misleading or so that the Time of Sale Prospectus, as amended or supplemented, will no longer conflict with the Registration Statement, or so that the Time of Sale Prospectus, as amended or supplemented, will comply with applicable law.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(f)&nbsp;&nbsp;&nbsp;&nbsp;If, during such period after the first date of the public offering of the Shares as in the opinion of counsel for the Underwriter the Prospectus (or in lieu thereof the notice referred to in Rule 173(a) of the Securities Act) is required by law to be delivered in connection with sales by the Underwriter or dealer, any event shall occur or condition exist as a result of which it is necessary to amend or supplement the Prospectus in order to make the statements therein, in the light of the circumstances when the Prospectus (or in lieu thereof the notice referred to in Rule 173(a) of the Securities Act) is delivered to a purchaser, not misleading, or if, in the opinion of counsel for the Underwriter, it is necessary to amend or supplement the Prospectus to comply with applicable law, forthwith to prepare, file with the Commission and furnish, at its own expense, to the Underwriter and to the dealers (whose names and addresses the Underwriter will furnish to the Company) to which Shares may have been sold by the Underwriter and to dealers upon request, either amendments or supplements to the Prospectus so that the statements in the Prospectus as so amended or supplemented will not, in the light of the circumstances when the Prospectus (or in lieu thereof the notice referred to in Rule 173(a) of the Securities Act) is delivered to a purchaser, be misleading or so that the Prospectus, as amended or supplemented, will comply with applicable law.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(g)&nbsp;&nbsp;&nbsp;&nbsp;To endeavor to qualify the Shares for offer and sale under the securities or Blue Sky laws of such jurisdictions as the Underwriter shall reasonably request.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(h)&nbsp;&nbsp;&nbsp;&nbsp;To make generally available to the Company&#8217;s security holders and to the Underwriter as soon as practicable an earnings statement covering a period of at least twelve months beginning with the first fiscal quarter of the Company occurring after the date of this Agreement which shall satisfy the provisions of Section&nbsp;11(a) of the Securities Act and the rules and regulations of the Commission thereunder.</p>

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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-indent: 36pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;Whether or not the transactions contemplated in this Agreement are consummated or this Agreement is terminated, to pay or cause to be paid all expenses incident to the performance of its obligations under this Agreement, including: (i)&nbsp;the fees, disbursements and expenses of the Company&#8217;s counsel and the Company&#8217;s accountants in connection with the registration and delivery of the Shares under the Securities Act and all other fees or expenses in connection with the preparation and filing of the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, the Prospectus, any free writing prospectus prepared by or on behalf of, used by, or referred to by the Company and amendments and supplements to any of the foregoing, including the filing fees payable to the Commission relating to the Shares (within the time required by Rule 456 (b)(1), if applicable), all printing costs associated therewith, and the mailing and delivering of copies thereof to the Underwriter and dealers, in the quantities hereinabove specified, (ii)&nbsp;all costs and expenses related to the transfer and delivery of the Shares to the Underwriter, including any transfer or other taxes payable thereon, (iii)&nbsp;the cost of printing or producing any Blue Sky or Legal Investment memorandum in connection with the offer and sale of the Shares under state securities laws and all expenses in connection with the qualification of the Shares for offer and sale under state securities laws as provided in Section&nbsp;6(g) hereof, including filing fees and the reasonable and documented fees and disbursements of counsel for the Underwriter in connection with such qualification and in connection with the Blue Sky or Legal Investment memorandum, (iv) all filing fees and the reasonable and documented fees and disbursements of counsel to the Underwriter incurred in connection with the review and qualification of the offering of the Shares by the Financial Industry Regulatory Authority in an amount not to exceed $25,000, (v) all costs and expenses incident to listing the Shares on the NYSE, (vi) the cost of printing certificates representing the Shares, (vii) the costs and charges of any transfer agent, registrar or depositary, (viii) the costs and expenses of the Company relating to investor presentations on any &#8220;road show&#8221; undertaken in connection with the marketing of the offering of the Shares, including, without limitation, expenses associated with the preparation or dissemination of any electronic road show, expenses associated with the production of road show slides and graphics, fees and expenses of any consultants engaged in connection with the road show presentations with the prior approval of the Company, travel and lodging expenses of the representatives and officers of the Company and any such consultants, and 50% of the cost of any aircraft chartered in connection with the road show, (ix) the document production charges and expenses associated with printing this Agreement and (x) all other costs and expenses incident to the performance of the obligations of the Company hereunder for which provision is not otherwise made in this Section. It is understood, however, that except as provided in this Section, Section&nbsp;8 entitled &#8220;Indemnity and Contribution&#8221; and the last paragraph of Section&nbsp;10 below, the Underwriter will pay all of its costs and expenses, including fees and disbursements of its counsel, stock transfer taxes payable on resale of any of the Shares by them and any advertising expenses connected with any offers they may make.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(j)&nbsp;&nbsp;&nbsp;&nbsp;If the third anniversary of the initial effective date of the Registration Statement occurs before all the Shares have been sold by the Underwriter, prior to the third anniversary to file a new shelf registration statement and to take any other action necessary to permit the public offering of the Shares to continue without interruption; references herein to the Registration Statement shall include the new registration statement declared effective by the Commission.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(k)&nbsp;&nbsp;&nbsp;&nbsp;If requested by the Underwriter, to prepare a final term sheet relating to the offering of the Shares, containing only information that describes the final terms of the offering in a form consented to by the Underwriter, and to file such final term sheet within the period required by Rule 433(d)(5)(ii) under the Securities Act following the date the final terms have been established for the offering of the Shares.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(l)&nbsp;&nbsp;&nbsp;&nbsp;The Company will deliver to the Underwriter (or its agent), on the date of execution of this Agreement, a properly completed and executed Certification Regarding Beneficial Owners of Legal Entity Customers, together with copies of identifying documentation, and the Company undertakes to provide such additional supporting documentation as the Underwriter may reasonably request in connection with the verification of the foregoing Certification.</p>

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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-indent: 36pt;">The Company also covenants with the Underwriter that, without the prior written consent of the Underwriter, it will not, and will not publicly disclose an intention to, during the restricted period set forth in Schedule I hereto (the &#8220;<b>Restricted Period</b>&#8221;), (1)&nbsp;offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock or (2)&nbsp;enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause&nbsp;(1) or (2) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise or (3)&nbsp;file any registration statement with the Commission relating to the offering of any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock. The restrictions contained in the foregoing sentence shall not apply to (A) the Shares to be sold hereunder, (B) the issuance by the Company of shares of Common Stock upon the exercise of an option or warrant or the conversion of a security outstanding on the date hereof as described in each of the Time of Sale Prospectus and Prospectus, (C) the repurchase of the Warrants by the Company pursuant to the Warrant Repurchase Agreement, or (D) facilitating the establishment of a trading plan on behalf of a shareholder, officer or director of the Company pursuant to Rule 10b5-1 under the Exchange Act for the transfer of shares of Common Stock, <i>provided</i> that (i) such plan does not provide for the transfer of Common Stock during the Restricted Period and (ii) to the extent a public announcement or filing under the Exchange Act, if any, is required of or voluntarily made by the Company regarding the establishment of such plan, such announcement or filing shall include a statement to the effect that no transfer of Common Stock may be made under such plan during the Restricted Period.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(m)&nbsp;&nbsp;&nbsp;&nbsp;The Company will use its best efforts to effect and maintain the listing of the Shares on the NYSE.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">7.<i>&nbsp;&nbsp;&nbsp;&nbsp;Covenants of the Underwriter</i>. The Underwriter covenants with the Company not to take any action that would result in the Company being required to file with the Commission under Rule 433(d) a free writing prospectus prepared by or on behalf of the Underwriter that otherwise would not be required to be filed by the Company thereunder, but for the action of the Underwriter.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">8.<i>&nbsp;&nbsp;&nbsp;&nbsp;Indemnity and Contribution.</i> (a) The Company agrees to indemnify and hold harmless the Underwriter, each person, if any, who controls the Underwriter within the meaning of either Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act and each affiliate of the Underwriter within the meaning of Rule&nbsp;405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any &#8220;road show&#8221; as defined in Rule 433(h) under the Securities Act (a &#8220;road show&#8221;), the Prospectus or any amendment or supplement thereto, or any Testing-the-Waters Communication, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriter consists of the information described as such in paragraph (b) below.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;The Underwriter agrees to indemnify and hold harmless the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act to the same extent as the foregoing indemnity from the Company to the Underwriter, but only with reference to information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or the Prospectus or any amendment or supplement thereto; it being understood and agreed that the only such information furnished by the Underwriter consists of the following information in the Prospectus furnished on behalf of the Underwriter: the third and fifteenth (except the third and tenth sentences thereof) paragraph under the caption &#8220;Underwriting&#8221; (the &#8220;<b>Underwriter Information</b>&#8221;).</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section&nbsp;8(a) or 8(b), such person (the &#8220;<b>indemnified party</b>&#8221;) shall promptly notify the person against whom such indemnity may be sought (the &#8220;<b>indemnifying party</b>&#8221;) in writing and the indemnifying party, upon request of the indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all such indemnified parties and that all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing by the Underwriter, in the case of parties indemnified pursuant to Section&nbsp;8(a), and by the Company, in the case of parties indemnified pursuant to Section&nbsp;8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(d)&nbsp;&nbsp;&nbsp;&nbsp;To the extent the indemnification provided for in Section&nbsp;8(a) or 8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and the Underwriter on the other hand from the offering of the Shares or (ii) if the allocation provided by clause&nbsp;8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause&nbsp;8(d)(i) above but also the relative fault of the Company on the one hand and of the Underwriter on the other hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Company on the one hand and the Underwriter on the other hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the net proceeds from the offering of the Shares (before deducting expenses) received by the Company and the total underwriting discounts and commissions received by the Underwriter bear to the aggregate initial public offering price of the Shares set forth in the Prospectus. The relative fault of the Company on the one hand and the Underwriter on the other hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or by the Underwriter and the parties&#8217; relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(e)&nbsp;&nbsp;&nbsp;&nbsp;The Company and the Underwriter agree that it would not be just or equitable if contribution pursuant to this Section&nbsp;8 were determined by <i>pro rata</i> allocation or by any other method of allocation that does not take account of the equitable considerations referred to in Section&nbsp;8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section&nbsp;8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section&nbsp;8, the Underwriter shall not be required to contribute any amount in excess of the amount by which the total price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that the Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section&nbsp;8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(f)&nbsp;&nbsp;&nbsp;&nbsp;The indemnity and contribution provisions contained in this Section&nbsp;8 and the representations, warranties and other statements of the Company contained in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of the Underwriter, any person controlling the Underwriter or any affiliate of the Underwriter or by or on behalf of the Company, its officers or directors or any person controlling the Company and (iii) acceptance of and payment for any of the Shares.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">9.<i>&nbsp;&nbsp;&nbsp;&nbsp;Termination</i>. The Underwriter may terminate this Agreement by notice given by the Underwriter to the Company, if after the execution and delivery of this Agreement and prior to or on the Closing Date or any Option Closing Date, as the case may be, (i) trading generally shall have been suspended or materially limited on, or by, as the case may be, any of the New York Stock Exchange, the NYSE American, the NASDAQ Global Market, the Chicago Board of Options Exchange, the Chicago Mercantile Exchange or the Chicago Board of Trade, (ii) trading of any securities of the Company shall have been suspended on any exchange or in any over&#8209;the&#8209;counter market, (iii) a material disruption in securities settlement, payment or clearance services in the United States shall have occurred, (iv) any moratorium on commercial banking activities shall have been declared by Federal or New York State authorities or (v) there shall have occurred any outbreak or escalation of hostilities, or any change in financial markets or any calamity or crisis that, in the Underwriter&#8217;s judgment, is material and adverse and which, singly or together with any other event specified in this clause&nbsp;(v), makes it, in the Underwriter&#8217;s judgment, impracticable or inadvisable to proceed with the offer, sale or delivery of the Shares on the terms and in the manner contemplated in the Time of Sale Prospectus or the Prospectus.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">10.<i>&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness; Company</i>&#8217;<i>s Non-Compliance</i>. This Agreement shall become effective upon the execution and delivery hereof by the parties hereto.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">If this Agreement shall be terminated by the Underwriter because of any failure or refusal on the part of the Company to comply with the terms or to fulfill any of the conditions of this Agreement, or if for any reason the Company shall be unable to perform its obligations under this Agreement, the Company will reimburse the Underwriter for all out&#8209;of&#8209;pocket expenses (including the fees and disbursements of its counsel) reasonably incurred by the Underwriter in connection with this Agreement or the offering contemplated hereunder.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">11.<i>&nbsp;&nbsp;&nbsp;&nbsp;Entire Agreement</i>. (a) This Agreement, together with any contemporaneous written agreements and any prior written agreements (to the extent not superseded by this Agreement) that relate to the offering of the Shares, represents the entire agreement between the Company and the Underwriter with respect to the preparation of any preliminary prospectus, the Time of Sale Prospectus, the Prospectus, the conduct of the offering, and the purchase and sale of the Shares.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;The Company acknowledges that in connection with the offering of the Shares: (i) the Underwriter has acted at arm&#8217;s length, is not an agent of, and owes no fiduciary duties to, the Company or any other person, (ii) the Underwriter owes the Company only those duties and obligations set forth in this Agreement, any contemporaneous written agreements and prior written agreements (to the extent not superseded by this Agreement), if any, (iii) the Underwriter may have interests that differ from those of the Company, and (iv) none of the activities of the Underwriter in connection with the transactions contemplated herein constitutes a recommendation, investment advice, or solicitation of any action by the Underwriter with respect to any entity or natural person. The Company waives to the full extent permitted by applicable law any claims it may have against the Underwriter arising from an alleged breach of fiduciary duty in connection with the offering of the Shares.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">12.<i>&nbsp;&nbsp;&nbsp;&nbsp;Recognition of the U.S. Special Resolution Regimes</i>. (a) In the event that the Underwriter that is a Covered Entity becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer from the Underwriter of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of the United State.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 36pt;">(b) In the event that the Underwriter that is a Covered Entity or a BHC Act Affiliate of the Underwriter becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against the Underwriter are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement were governed by the laws of the United States or a state of the United States.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">For purposes of this Section a &#8220;<b>BHC Act Affiliate</b>&#8221; has the meaning assigned to the term &#8220;affiliate&#8221; in, and shall be interpreted in accordance with, 12 U.S.C. &#167; 1841(k). &#8220;<b>Covered Entity</b>&#8221; means any of the following: (i) a &#8220;covered entity&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &#167; 252.82(b); (ii) a &#8220;covered bank&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &#167; 47.3(b); or (iii) a &#8220;covered FSI&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &#167; 382.2(b). &#8220;<b>Default Right</b>&#8221; has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. &#167;&#167; 252.81, 47.2 or 382.1, as applicable. &#8220;<b>U.S. Special Resolution Regime</b>&#8221; means each of (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">13.<i>&nbsp;&nbsp;&nbsp;&nbsp;Counterparts</i>. This Agreement may be signed in two or more counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. Counterparts may be delivered via facsimile, electronic mail (including any electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">14.<i>&nbsp;&nbsp;&nbsp;&nbsp;Applicable Law</i>. This Agreement shall be governed by and construed in accordance with the internal laws of the State of New York.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">15.<i>&nbsp;&nbsp;&nbsp;&nbsp;Headings</i>. The headings of the sections of this Agreement have been inserted for convenience of reference only and shall not be deemed a part of this Agreement.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">16.<i>&nbsp;&nbsp;&nbsp;&nbsp;Notices</i>. All communications hereunder shall be in writing and effective only upon receipt and if to the Underwriter shall be delivered, mailed or sent to the Underwriter at the address set forth in Schedule I hereto; and if to the Company shall be delivered, mailed or sent to the address set forth in Schedule I hereto.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><i>[Signature Page Follows]</i></p>

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			</td>
			<td colspan="2" valign="top" width="38%">
			<p style="margin-top: 0; margin-bottom: 0;">Very truly yours,</p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
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		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="38%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="38%">TIDEWATER INC.</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td align="left" nowrap="nowrap" valign="bottom" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td align="left" style="text-align: left;" valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td style="text-align: left" valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">By: </font></p>
			</td>
			<td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid" valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;">/s/ Sam Rubio</p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;">Name:&nbsp;Sam Rubio</p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;">Title:&nbsp;Executive Vice President and CFO</p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 8pt;"><i>[Signature Page to Underwriting Agreement]</i></p>
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			<td colspan="2" style="vertical-align:top;width:102.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Accepted as of the date hereof<br>
			<br>
			Morgan Stanley &amp; Co. LLC</p>
			</td>
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			<td colspan="2" style="vertical-align:top;width:102.6%;">&nbsp;</td>
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			<td colspan="2" style="vertical-align:top;width:102.6%;">&nbsp;</td>
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			<td style="vertical-align:top;width:14.5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">By:</p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:88.1%;">/s/ Mauricio Dominguez</td>
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			<td style="vertical-align:top;width:14.5%;">&nbsp;</td>
			<td style="vertical-align:top;width:88.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Name:&nbsp;Mauricio Dominguez</p>
			</td>
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			<td style="vertical-align:top;width:14.5%;">&nbsp;</td>
			<td style="vertical-align:top;width:88.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Title:&nbsp;Vice President, Equity Capital Markets</p>
			</td>
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<div class="hf-cell PGNUM"><i>[Signature Page to Underwriting Agreement]</i></div>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;"><b>SCHEDULE I</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 100%;">

		<tr>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Registration Statement File No.:</p>
			</td>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">333-234686</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Time of Sale Prospectus</p>
			</td>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">1.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Prospectus dated July 20, 2021 relating to the Shelf Shares</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">&nbsp;</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">2.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;The preliminary prospectus supplement dated August 9, 2022 relating to the Shares</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">&nbsp;</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">3.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;The Company is selling 3,520,000 Firm Shares</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">&nbsp;</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">4.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;The price to the public per Firm Share is $17.850</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">&nbsp;</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">5.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;The Company has granted to the Underwriter the right to purchase up to 528,000 Additional Shares</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Lock-up Restricted Period:</p>
			</td>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">90 days</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Title of Shares to be purchased:</p>
			</td>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Common stock, par value $0.001 per share</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Number of Firm Shares:</p>
			</td>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">3,520,000</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Number of Additional Shares</p>
			</td>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">528,000</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Purchase Price:</p>
			</td>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$17.448 a share</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
		</tr>
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			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Initial Public Offering Price</p>
			</td>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$17.850 a share</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Selling Concession:</p>
			</td>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$0.2412 a share</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Closing Date and Time:</p>
			</td>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">August 12, 2022 9:00 a.m.</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Closing Location</p>
			</td>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Shearman &amp; Sterling LLP</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">599 Lexington Avenue</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">New York, New York 10022-6069</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
		</tr>
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			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Address for Notices to the Underwriter:</p>
			</td>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Morgan Stanley &amp; Co. LLC</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">1585 Broadway</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">New York, New York 10036</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Attention: Equity Syndicate Desk</p>
			</td>
		</tr>

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<p style="margin: 0pt;">&nbsp;</p>

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<div class="hf-cell PGNUM">I-1</div>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 100%;">

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			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">with a copy to:</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Shearman &amp; Sterling LLP</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">599 Lexington Avenue</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">New York, NY 10022</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Attention: Ilir Mujalovic</p>
			</td>
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			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:50.7%;">&nbsp;</td>
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			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Address for Notices to the Company:</p>
			</td>
			<td style="vertical-align:top;width:50.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Tidewater Inc.</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">842 West Sam Houston Parkway North</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Suite 400</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Houston, Texas 77024</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Attention: General Counsel</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">with a copy to:</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Norton Rose Fulbright US LLP</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">1301 McKinney St.</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Suite 5100</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Houston, Texas 77001</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Attention: William D. Davis II and Steven Suzzan</p>
			</td>
		</tr>

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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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<div class="hf-cell PGNUM">I-2</div>
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</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;"><b>SCHEDULE II</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 85%; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Underwriter</b></p>
			</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" nowrap="true" style="text-align: center; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 0%; padding: 0px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><b>Number of Firm Shares<br>
			To Be Purchased</b></b></p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Morgan Stanley &amp; Co. LLC</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; text-align: right; border-bottom: 1px solid rgb(0, 0, 0);">3,520,000</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Total:</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">3,520,000</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">II-1</div>
</div>
</div>

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<div class="hf-cell TOCLink">&nbsp;</div>
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<div contenteditable="false" data-applyto="p" data-auto-pgnum="start" data-displaynum="1" data-fontname="Times New Roman" data-fontsize="10pt" data-numstyle="a" data-prefix="A-" data-startnum="1" data-suffix="" data-textalign="center">&nbsp;</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: right;"><b>EXHIBIT A</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>FORM OF LOCK-UP AGREEMENT</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 378pt; text-indent: 18pt; text-align: right;">[&#8226;], 2022</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Morgan Stanley &amp; Co. LLC</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">1585 Broadway<br>
New York, NY 10036</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Ladies and Gentlemen:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">The undersigned understands that Morgan Stanley &amp; Co. LLC (&#8220;<b>Morgan Stanley</b>&#8221;) proposes to enter into an Underwriting Agreement (the &#8220;<b>Underwriting Agreement</b>&#8221;) with Tidewater Inc., a Delaware corporation (the &#8220;<b>Company</b>&#8221;), providing for the public offering (the &#8220;<b>Public Offering</b>&#8221;) of shares (such shares offered in the Public Offering, the &#8220;<b>Shares</b>&#8221;) of the common stock, $0.001 par value per share, of the Company (the &#8220;<b>Common Stock</b>&#8221;).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">To induce Morgan Stanley to continue its efforts in connection with the Public Offering, the undersigned hereby agrees that, without the prior written consent of Morgan Stanley, the undersigned will not, and will not publicly disclose an intention to, during the period commencing on the date hereof and ending 90 days after the date of the final prospectus (the &#8220;<b>Restricted Period</b>&#8221;) relating to the Public Offering (the &#8220;<b>Prospectus</b>&#8221;), (1)&nbsp;offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any Common Stock beneficially owned (as such term is used in Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the &#8220;<b>Exchange Act</b>&#8221;)), by the undersigned or any other securities so owned convertible into or exercisable or exchangeable for Common Stock or (2)&nbsp;enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause&nbsp;(1) or (2) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. The undersigned acknowledges and agrees that the foregoing precludes the undersigned from engaging in any hedging or other transactions designed or intended, or which could reasonably be expected to lead to or result in, a sale or disposition of any Common Stock, or securities convertible into or exercisable or exchangeable for Common Stock, even if any such sale or disposition transaction or transactions would be made or executed by or on behalf of someone other than the undersigned.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM" data-number="1" data-prefix="A-" data-suffix="" style="text-align: center; font-size: 10pt; font-family: &quot;Times New Roman&quot;;">A-1</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
</div>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">The foregoing paragraph shall not apply to (a) transactions relating to (1) any Shares acquired in the Public Offering or (2) Common Stock or other securities acquired in open market transactions after the completion of the Public Offering, <i>provided</i> that no filing under Section&nbsp;16(a) of the Exchange Act shall be required or shall be voluntarily made in connection with subsequent sales of Common Stock or other securities acquired in the Public Offering or such open market transactions, (b) transfers of Common Stock or any security convertible into Common Stock as a bona fide gift, for bona fide estate planning purposes, or by operation of law, (c) if the undersigned is not an individual, distributions of Common Stock or any security convertible into Common Stock to limited partners or stockholders of the undersigned; <i>provided</i> that in the case of any transfer or distribution pursuant to clause&nbsp;(b) or (c), (i) each donee or distributee shall sign and deliver a lock&#8209;up agreement substantially in the form of this agreement and (ii) no filing under Section&nbsp;16(a) of the Exchange Act, reporting a reduction in beneficial ownership of Common Stock, shall be required or shall be voluntarily made during the Restricted Period, [or] (d) facilitating the establishment of a trading plan on behalf of a shareholder, officer or director of the Company pursuant to Rule 10b5-1 under the Exchange Act for the transfer of Common Stock, <i>provided</i> that (i) such plan does not provide for the transfer of Common Stock during the Restricted Period and (ii) to the extent a public announcement or filing under the Exchange Act, if any, is required of or voluntarily made by or on behalf of the undersigned or the Company regarding the establishment of such plan, such announcement or filing shall include a statement to the effect that no transfer of Common Stock may be made under such plan during the Restricted Period[.][, or (e) in connection with the Public Offering, the entering into or performance of the undersigned&#8217;s obligations under the Warrant Repurchase Agreement or the Warrant Escrow Agreement (as such terms are defined in the Underwriting Agreement).]&nbsp;In addition, the undersigned agrees that, without the prior written consent of Morgan Stanley, the undersigned will not, during the Restricted Period, make any demand for, or exercise any right with respect to, the registration of any Common Stock or any security convertible into or exercisable or exchangeable for Common Stock. The undersigned also agrees and consents to the entry of stop transfer instructions with the Company&#8217;s transfer agent and registrar against the transfer of the undersigned&#8217;s Common Stock except in compliance with the foregoing restrictions.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">The undersigned represents and warrants that the undersigned is not, and has not caused or directed any of its affiliates to be or become, currently a party to any agreement or arrangement that provides for, is designed to or which reasonably could be expected to lead to or result in any activity prohibited by this agreement during the Restricted Period. If the undersigned is not a natural person, the undersigned represents and warrants that no single natural person, entity or &#8220;group&#8221; (within the meaning of Section 13(d)(3) of the Exchange Act), other than a natural person, entity or &#8220;group&#8221; (as described above) that has executed a lock-up agreement in substantially the same form as this agreement, beneficially owns, directly or indirectly, 50% or more of the common equity interests, or 50% or more of the voting power, in the undersigned.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">The undersigned understands that the Company and Morgan Stanley are relying upon this agreement in proceeding toward consummation of the Public Offering. The undersigned further understands that this agreement is irrevocable and shall be binding upon the undersigned&#8217;s heirs, legal representatives, successors and assigns.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">The undersigned acknowledges and agrees that Morgan Stanley has not provided any recommendation or investment advice nor has Morgan Stanley solicited any action from the undersigned with respect to the Public Offering and the undersigned has consulted their own legal, accounting, financial, regulatory and tax advisors to the extent deemed appropriate. The undersigned further acknowledges and agrees that, although Morgan Stanley may provide certain Regulation Best Interest and Form CRS disclosures or other related documentation to you in connection with the Public Offering, Morgan Stanley is not making a recommendation to&nbsp;you to participate in the Public Offering, sell any Shares at the price determined in the Public Offering or enter into this agreement, and nothing set forth in such disclosures or documentation is intended to suggest that Morgan Stanley is making such a recommendation.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM" data-number="2" data-prefix="A-" data-suffix="" style="text-align: center; font-size: 10pt; font-family: &quot;Times New Roman&quot;;">A-2</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
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<div class="hf-cell TOCLink">&nbsp;</div>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">Whether or not the Public Offering actually occurs depends on a number of factors, including market conditions. Any Public Offering will only be made pursuant to an Underwriting Agreement, the terms of which are subject to negotiation between the Company and Morgan Stanley.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">This agreement shall be governed by and construed in accordance with the laws of the State of New York.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">This agreement may be executed by facsimile, PDF or other electronic means, which signatures will be accepted as if they were original execution signatures.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;"><i>[Signature Page Follows]</i></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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<div class="PGFTR" style="text-align: center; width: 100%">
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<div class="hf-cell PGNUM" data-number="3" data-prefix="A-" data-suffix="" style="text-align: center; font-size: 10pt; font-family: &quot;Times New Roman&quot;;">A-3</div>
</div>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="text-indent: 0; width: 100%;font-family: 'Times New Roman', Times, serif; font-size: 10pt">

		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td colspan="2" valign="top" width="38%">
			<p style="margin-top: 0; margin-bottom: 0;">Very truly yours,</p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="38%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
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		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="38%">&nbsp;</td>
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		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="38%">Signature</td>
			<td valign="top" width="12%">&nbsp;</td>
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		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="38%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
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			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="top" width="38%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="38%">Signatory (please print)</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="38%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="top" width="38%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="38%">Address</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="38%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="top" width="38%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
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			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="38%">Entity Name (if signatory is an entity)</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
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			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="38%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
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			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" style="border-bottom: 1px solid rgb(0, 0, 0);" valign="top" width="38%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="38%">Title (if signatory is an entity)</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="LAST-PAGE-BREAK">
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<div class="hf-cell PGNUM" data-number="4" data-prefix="A-" data-suffix="" style="text-align: center; font-size: 10pt; font-family: &quot;Times New Roman&quot;;">A-4</div>
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</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.2
<SEQUENCE>3
<FILENAME>ex_410693.htm
<DESCRIPTION>EXHIBIT 1.2
<TEXT>
<html><head>
	<title>ex_410693.htm</title>

	<!-- Generated by ThunderDome Portal - 8/11/2022 4:24:37 AM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
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<body style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; padding: 0in 0.1in; cursor: auto;">
<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 1.2</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>WARRANT REPURCHASE AGREEMENT </b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:9pt;">This Warrant Repurchase Agreement (this &#8220;<b>Agreement</b>&#8221;) is made and entered into as of August August 9, 2022 by and between Tidewater Inc., a Delaware corporation (the &#8220;<b>Company</b>&#8221;), and Banyan Overseas Limited, a limited company organized under the laws of Bermuda (the &#8220;<b>Seller</b>&#8221;). Each of the Company and the Seller are hereinafter individually referred to as a &#8220;<b>party</b>&#8221; and collectively referred to as the &#8220;<b>parties</b>.&#8221;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>PRELIMINARY STATEMENTS</b></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Seller owns 8,100,000 warrants dated April 22, 2022 (the &#8220;<b>Warrants</b>&#8221;) to purchase up to 8,100,000 shares of the Company&#8217;s common stock, par value $0.001 per share (the &#8220;<b>Common Stock</b>&#8221;) issued in accordance with the terms of the Warrant Agreement dated April 22, 2022 (the &#8220;<b>Warrant Agreement</b>&#8221;), by and between the Company and American Stock Transfer &amp; Trust Company, LLC (the &#8220;<b>Warrant Agent</b>&#8221;). The Warrants were issued to the Seller in connection with the closing of the acquisition by the Company of all of the issued and outstanding shares of Tidewater Pacific Offshore Holdings Limited (formerly known as Swire Pacific Offshore Holdings Limited), a limited company organized under the laws of Bermuda and then wholly-owned subsidiary of the Seller (&#8220;<b>TOHL</b>&#8221;), pursuant to that certain Share Purchase Agreement, as amended from time to time, dated March 9, 2022, by and among the Company, the Seller and TOHL.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Section 2.1(c) of that certain Registration Rights Agreement, by and between the Company and Seller dated as of April 22, 2022, and amended as of June 27, 2022 (as amended, the &#8220;<b>RR Agreement</b>&#8221;), the Seller has requested that the Company execute an underwritten offering of all or a portion of the Registrable Securities (as defined in the RR Agreement) (a &#8220;<b>Shelf Takedown</b>&#8221;).</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After consultation with underwriters in connection with the proposed Shelf Takedown, pursuant to Section 2.2(d) of the RR Agreement, the parties acknowledge and agree that the Company would, instead of a Shelf Takedown of Registrable Securities, issue shares of Common Stock in an underwritten public offering on terms set forth on <u>Schedule I</u> hereto (the &#8220;<b>Offering</b>&#8221;) pursuant to an underwriting agreement, executed concurrently with this Agreement (the &#8220;<b>Underwriting Agreement</b>&#8221;), by and between the Company and Morgan Stanley &amp; Co. LLC (the &#8220;<b>Underwriter</b>&#8221;) and a registration statement on Form S-3 filed with the Securities and Exchange Commission (the &#8220;<b>Commission</b>&#8221;) and use the proceeds thereof, net of Offering Expenses (as defined below) in accordance with the terms hereof, to repurchase from the Seller that number of Warrants that are exercisable for the number of shares of Common Stock equal to the number of shares of Common Stock so issued and sold in the Offering (the &#8220;<b>Repurchased Warrants</b>&#8221;) on the terms and conditions set forth in this Agreement (such mutual agreement to purchase, transfer and sell the Repurchased Warrants being herein referred to as the &#8220;<b>Repurchase</b>&#8221;).</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>AGREEMENT</b></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">In consideration of the premises and of the mutual representations, warranties, covenants and agreements contained herein, the parties hereby agree as follows:</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">1.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Purchase of Repurchased Warrants</u>. The Seller hereby irrevocably agrees to sell, assign and transfer the Repurchased Warrants to the Company, and the Company irrevocably agrees to purchase the Repurchased Warrants from the Seller, in each case, on the terms and subject to the conditions in this Agreement. At the Closing (as defined in <u>Section 1.4</u>) and at each Option Closing (as defined in <u>Section 1.5</u>), in full consideration of the Repurchase of the Repurchased Warrants sold at such closing, the Company shall pay to the Seller for each such Repurchased Warrant cash via wire transfer in &#8220;same-day&#8221; funds an amount equal to the Purchase Price with respect to such Repurchased Warrant. &#8220;<b>Purchase Price</b>&#8221; means, with respect to a Repurchased Warrant that corresponds to (a) a Firm Share (as such term is defined in the Underwriting Agreement) sold to the public in the Offering, (i) the offering price per Firm Share sold to the public in the Offering less (ii) an amount equal to (1) the Offering Expenses with respect to the sale of such Firm Shares divided by (2) the number of Firm Shares sold in the Offering, and (b) an Additional Share (as such term is defined in the Underwriting Agreement) sold to the public in the Offering, (i) the offering price per Additional Share sold to the public in the Offering less (ii) an amount equal to (1) the Offering Expenses with respect to the sale of such Additional Shares divided by (2) the number of Additional Shares sold in the Offering. &#8220;<b>Offering Expenses</b>&#8221; means all underwriting fees, discounts and selling commissions or broker or similar commissions or fees, and transfer taxes allocable to the Offering.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">1.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Delivery of Warrants in Escrow to Warrant Agent</u>. Concurrently with the execution of this Agreement, the Seller shall deliver the number of Warrants equal to the maximum number of Repurchased Warrants based on the maximum number of shares of Common Stock issuable in the Offering (<i>i.e</i>., the sum of the number of Firm Shares (as defined in the Underwriting Agreement) and Additional Shares (as defined in the Underwriting Agreement) (the &#8220;<b>Escrowed Warrants</b>&#8221;) to the Warrant Agent to be held in escrow pursuant to the terms and subject to the conditions of an escrow agreement by and among the Seller, the Company and the Warrant Agent, dated as of the date hereof (the &#8220;<b>Escrow Agreement</b>&#8221;).</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">1.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>No Exercise or Disposal of Warrants</u>. From and after the date hereof until the earlier to occur of (a) the expiration of the Option Period (as defined in <u>Section 1.5</u>) and (b) termination of this Agreement in accordance with its terms, the Seller agrees not to, directly or indirectly, (i) exercise the Escrowed Warrants in accordance with their terms and/or (ii) sell, assign, transfer, pledge, hypothecate, make gifts of or in any manner whatsoever dispose of or encumber any of the Escrowed Warrants, in each case without the prior written consent of the Company.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">1.4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Closing</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:72pt;">(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The closing of the Repurchases contemplated by this Agreement (the &#8220;<b>Closing</b>&#8221;) is expressly conditioned on the delivery of each deliverable set forth in <u>Section 1.4(b</u>) and shall occur immediately following the consummation of the Offering in accordance with the terms and conditions of the Underwriting Agreement, including the Company&#8217;s receipt of the aggregate proceeds from the Offering, net of applicable Offering Expenses. For greater certainty all references to the consummation of the Offering contained in this <u>Section 1.4</u> do not require the exercise by the Underwriter of any Option.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:72pt;">(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the Closing:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:144pt;">(i) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller shall cause the Warrant Agent to release from escrow, transfer and deliver to the Company for cancellation the number of the Repurchased Warrants that are exercisable for the number of Firm Shares and Additional Shares issued and sold in the Offering on or prior to such date by delivering to the Company and the Warrant Agent the instructions set forth on <u>Exhibit A</u> hereto. Upon such transfer and delivery to the Company, the Repurchased Warrants so transferred shall terminate and no longer be of any force or effect.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:144pt;">(ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall pay to the Seller the aggregate Purchase Price for such Repurchased Warrants in cash via wire transfer in &#8220;same-day&#8221; funds.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Option Closing</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:72pt;">(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Underwriter timely elects to exercise its option (the &#8220;<b>Option</b>&#8221;) under the Underwriting Agreement to purchase Additional Shares within 30 days after the date of the Prospectus (as such term is defined in the Underwriting Agreement) (the &#8220;<b>Option Period</b>&#8221;), there shall be an additional closing date (an &#8220;<b>Option Closing</b>&#8221;), which is expressly conditioned on the delivery of each deliverable set forth in <u>Section 1.5(b</u>) and shall occur immediately upon consummation of an Option, including the Company&#8217;s receipt of the aggregate proceeds from the sale of such Additional Shares pursuant to such Option, net of any Offering Expenses incurred with respect to the sale of such Additional Shares pursuant to such Option.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:72pt;">(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the Option Closing:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:144pt;">(i) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller shall cause the Warrant Agent to release from escrow, transfer and deliver to the Company for cancellation the number of the Repurchased Warrants that are exercisable for the number of Additional Shares issued and sold in the Option on or prior to such date by delivering to the Company and Warrant Agent the instructions set forth on <u>Exhibit A</u> hereto. Upon such transfer and delivery to the Company, the Repurchased Warrants so transferred shall terminate and no longer be of any force or effect.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:144pt;">(ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall (1) pay to the Seller the aggregate Purchase Price for such Repurchased Warrants in cash via wire transfer in &#8220;same-day&#8221; funds, and (2) deliver to the Seller the certificate contemplated in <u>Section 5.2</u> with respect to such Repurchased Warrants.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Seller</u><u>&#8217;</u><u>s Obligation to Close</u>. Notwithstanding anything to the contrary in this Agreement, unless otherwise consented to in writing by the Seller, the Seller shall have no obligation to complete the Closing or consummate any Repurchase if the Offering is consummated on terms that would result in a lower aggregate Purchase Price than is contemplated by <u>Schedule I</u> hereto.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">1.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Release From Escrow</u>. Upon the earliest to occur of (such occurrence, an &#8220;<b>Escrow Termination Event</b>&#8221;) (a) termination of this Agreement in accordance with its terms, (b) termination of the Underwriting Agreement in accordance with its terms, (c) expiration of the Option Period, and (d) notification after the Closing by the Underwriter that it will not exercise the Option, any Escrowed Warrants then held in escrow pursuant to the Escrow Agreement and not previously repurchased by the Company in a Closing or Option Closing shall be released from escrow and returned to Seller in accordance with the Escrow Agreement. To effect such release, upon the occurrence of an Escrow Termination Event, Seller may deliver written instructions to the Escrow Agent instructing the Escrow Agent to release and transfer to Seller any Escrowed Warrants then held in escrow pursuant to the Escrow Agreement and not previously repurchased by the Company in a Closing or Option Closing. Such instruction shall be sufficient, in and of itself, to cause the Escrow Agent to so release and transfer such Escrowed Warrants.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">3.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<u>Representations and Warranties of Seller</u>. The Seller represents and warrants to the Company, on the date hereof and as of immediately prior to the Closing, as follows:</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">3.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Authorization</u>. The Seller is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation with all requisite business entity power and authority to own, lease and operate its properties and to carry on its business as now being conducted. The Seller has all requisite business entity power to execute and deliver this Agreement and all other agreements and documents contemplated hereby and to perform the Seller&#8217;s obligations thereunder. This Agreement has been duly executed and delivered by, and constitutes the valid and binding obligation of, the Seller, enforceable in accordance with its terms, except that (a) such enforcement may be subject to bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors&#8217; rights generally or (b) the remedy of specific performance and injunctive relief are subject to certain equitable defenses and to the discretion of the court before which any proceedings may be brought (the &#8220;<b>Equitable Exceptions</b>&#8221;).</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">3.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Warrants</u>. The Seller owns of record and beneficially good and valid title to the Escrowed Warrants, free and clear of any and all liens, mortgages, security interests, encumbrances, pledges, charges, adverse claims, options, rights or restrictions of any character whatsoever other than (a) standard state and federal securities law private offering legends and restrictions, (b) those created by the bylaws or certificate of incorporation of the Company, the Warrant Agreement, any underwriting agreement or other agreement entered into in connection with the Offering, or this Agreement and the agreements and other documents contemplated hereby, or (iii) those arising from acts of the Company or its affiliates (collectively, &#8220;<b>Liens</b>&#8221;). Delivery to the Company of the Repurchased Warrants, upon payment therefor, will convey good and valid title to such Repurchased Warrants to the Company, free and clear of all Liens. The Warrants constitute the only rights to acquire the Common Stock of the Company owned by Seller. The Seller does not own any Common Stock or any other stock or securities of the Company.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">3.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>No Violations</u>. The execution, delivery and performance by the Seller of this Agreement and the other agreements and documents contemplated hereby and the consummation by the Seller of the transactions contemplated hereby will not (a) violate any statute, rule, regulation, order or decree of any public body or authority by which the Seller or the Repurchased Warrants are bound or (b) result in a violation or breach of, or constitute a default under, or result in the creation of any Lien upon, or create any rights of termination, cancellation or acceleration in any person with respect to any agreement, contract, license, franchise, permit, indenture, mortgage or instrument to which the Seller is a party or by which the Repurchased Warrants are bound, except, with respect to clauses (a) and (b), as would not reasonably be expected to impair Seller&#8217;s ability to consummate the transactions contemplated hereby.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">3.4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Consents</u>. Except as may be required under the Warrant Agreement or the bylaws or certificate of incorporation of the Company, no consent, approval or other authorization of any governmental authority or under any contract or other agreement or commitment to which the Seller is a party or by which the Seller or the Repurchased Warrants are bound is required for the execution or delivery of this Agreement and the other agreements and documents to be executed by the Seller or the consummation by the Seller of the transactions contemplated hereby.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Receipt of Information</u>. The Seller has received all the information that it considers necessary or appropriate for deciding whether to enter into this Agreement and perform the obligations set forth herein. The Seller hereby represents that the Seller has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the Company&#8217;s purchase of the Repurchased Warrants and the business and financial condition of the Company and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify the accuracy of any information furnished to them or to which they had access.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">4.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<u>Representations and Warranties of the Company</u>. The Company represents and warrants to each Seller, on the date hereof and as of immediately prior to the Closing, as follows:</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">4.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Organization and Authorization</u>. The Company is a corporation duly organized, validly existing and in good standing under the laws of the state of its incorporation with all requisite corporate power and authority to own, lease and operate its properties and to carry on its business as now being conducted. The Company has all requisite corporate power to execute and deliver this Agreement and all other agreements and documents contemplated hereby and perform its obligations thereunder. The execution and delivery of this Agreement and such other agreements and documents by the Company and the consummation by the Company of the transactions contemplated hereby have been duly authorized by the Company and no other corporate action on the part of the Company is necessary to authorize the transactions contemplated hereby. This Agreement has been duly executed and delivered by the Company and constitutes the valid and binding obligation of the Company, enforceable in accordance with its terms, subject to the Equitable Exceptions.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">4.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>No Violations</u>. The execution and delivery of this Agreement and the other agreements and documents contemplated hereby by the Company and the consummation by the Company of the transactions contemplated hereby will not (a) violate any provision of the Amended and Restated Certificate of Incorporation or Amended and Restated Bylaws of the Company, (b) violate any statute, rule, regulation, order or decree of any public body or authority by which the Company or its properties or assets are bound, or (c) result in a violation or breach of, or constitute a default under or result in the creation of any Lien upon, or create any rights of termination, cancellation or acceleration in any person with respect to any agreement, contract, indenture, mortgage or instrument to which the Company is a party or any of its properties or assets is bound.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">4.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Consents</u>. No consent, approval or other authorization of any governmental authority or under any contract or other agreement or commitment to which the Company is a party or by which the Company is bound is required for the execution or delivery of this Agreement and the other agreements and documents to be executed by the Company or the consummation by the Company of the transactions contemplated hereby.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">5.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<u>Additional Agreements</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>No Further Rights or Obligations</u>. Effective as of the Closing or an Option Closing, as applicable, and upon receipt of the aggregate Purchase Price by Seller in accordance with <u>Section 1.4</u> or <u>Section 1.5</u>, respectively, of this Agreement, except for any rights or remedies resulting from or relating to this Agreement or the transactions contemplated hereby, the Seller shall not have any further rights or obligations under the Repurchased Warrants sold at such closing or with respect to any shares of Common Stock issuable thereunder.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>FIRPTA Certificate</u>. Concurrently with the execution of this Agreement (with respect to the Closing) and at or prior to any Option Closing, the Company shall provide to Seller the certificate described in Treasury Regulation Sections 1.1445-2(c)(3) and 1.897-2(h), which states that the Repurchased Warrants are not U.S. real property interests and provide a copy of such statement to the U.S. Internal Revenue Service as required by such regulations.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Withholding</u>. The Company shall pay the aggregate Purchase Price to Seller, free and clear of, and without reduction or withholding for, any taxes. Notwithstanding the preceding sentence, in the event that between the date hereof and the Closing and, if applicable, Option Closing, there is a change in applicable law that requires the Company to withhold an amount of tax with respect to the Purchase Price, or the Company receives a written notice from a taxing or other governmental authority that it must withhold an amount with respect to the Purchase Price (in either case, a &#8220;<b>Change in Circumstance</b>&#8221;), the Company shall be entitled to deduct and withhold from the Purchase Price otherwise payable under this Agreement in connection with the Closing or Option Closing, as applicable, such amounts as are required to be withheld or deducted by reason of the Change in Circumstance with respect to the making of such payment as determined by the Company in good faith; <i>provided, however</i>, that (a) the Company shall have notified the Seller in writing as soon as reasonably practicable upon becoming aware of the Change in Circumstance, but in all cases reasonably prior to any anticipated deduction or withholding, with the amount, if available, and basis for any such withholding with respect to payments to be made by it under this Agreement, and (b) the Company agrees to reasonably cooperate with any steps taken by the Seller to reduce or eliminate any withholding to the extent permitted by law.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Issuance of Form 8-K</u>. Within four business days of the Closing, the Company shall file a Current Report on Form 8-K with the Commission disclosing all material terms of the transaction contemplated hereunder and the Closing.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Consents and Notifications</u>. The Company will not, without the prior written consent of Seller, (a) amend, or agree to amend, the Underwriting Agreement, or waive or fail to enforce any closing condition or other right of the Company under the Underwriting Agreement, where such amendment, waiver or failure to assert a right could reasonably be expected to have an adverse effect on Seller or the transactions contemplated by this Agreement, including any delay of the Closing, or (b) amend, or agree to amend, Schedule I of the Underwriting Agreement. The Company shall promptly notify Seller in writing of any (i) amendment of, or waiver or failure to enforce any right of the Company under, the Underwriting Agreement, and (ii) event, action, fact or circumstance the existence, occurrence or taking of which has had or could reasonably be expected to have an adverse effect on, delay the closing of, or result in the failure of any condition to the closing of, the Offering under the Underwriting Agreement or the Closing or any Option Closing under this Agreement.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">6.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<u>General</u>.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">6.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>. This Agreement (including the exhibit hereto) constitute the entire agreement and supersede all prior agreements and understandings, both written and oral, between the parties with respect to the Offering and the Repurchases.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">6.2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns</u>. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the parties and their respective successors and permitted assigns. Neither this Agreement nor any rights, interests or obligations hereunder may be assigned by any party without the prior written consent of the other party, and any purported assignment in violation of this Section shall be null and void.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">6.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Agreement may be executed in counterparts, each of which shall for all purposes be deemed to be an original and all of which shall constitute the same instrument. Delivery of an executed counterpart of a signature page to this Agreement by facsimile (or other electronic transmission) shall be effective as delivery of a manually executed counterpart of this Agreement.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:9pt;">6.4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Modification and Waiver</u>. Any of the terms or conditions of this Agreement may be waived in writing at any time by the party that is entitled to the benefits thereof. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by all of the parties. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">6.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:72pt;">(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each party hereto acknowledges that monetary damages would not be an adequate remedy in the event that each and every one of the covenants or agreements in this Agreement, including any covenants or agreements that require actions to be taken following the Closing, are not performed in accordance with their terms, and it is therefore agreed that, in addition to and without limiting any other remedy or right it may have, the non-breaching party shall have the right to an injunction, temporary restraining order or other equitable relief in any court of competent jurisdiction enjoining any such breach and enforcing specifically each and every one of the terms and provisions hereof. Each party hereto agrees not to oppose the granting of such relief in the event a court determines that such a breach has occurred, and to waive any requirement for the securing or posting of any bond in connection with such remedy.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:72pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All rights, powers and remedies provided under this Agreement or otherwise available in respect hereof at law or in equity shall be cumulative and not alternative, and the exercise or beginning of the exercise of any thereof by any party shall not preclude the simultaneous or later exercise of any other such right, power or remedy by such party.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">6.7 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Any notice, request, instruction, document or other communication to be given hereunder by any party to any other party shall be in writing and validly given if (a) delivered personally, (b) sent by electronic transmission, (c) delivered by overnight express or (d) sent by registered or certified mail, postage prepaid, as follows:</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">If to Seller:</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 72pt;">Banyan Overseas Limited</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 72pt;">33/F, One Pacific Place</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt; text-indent: 36pt;">88 Queensway, Admiralty, HKSAR</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 72pt;">Attention: The Company Secretary</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;">Telephone: (852) 2840 8867</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;">E-mail: SPACCSD@JSSHK.com</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">With a copy to (which shall not constitute notice):</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 72pt;">Holland &amp; Knight LLP</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;">31 West 52nd St.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;">New York, New York 10019</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;">Attention: Arman J. Kuyumjian</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;">Telephone: (212) 513-3588</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;">E-mail: arman.kuyumjian@hklaw.com</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">If to the Company:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;">Tidewater Inc.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;">842 West Sam Houston Parkway North, Suite 400</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;">Houston, Texas, 77024</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;">Attention: Corporate Secretary</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;">Email: dhudson@tdw.com<b> </b></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">6.8 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law; Consent to Jurisdiction</u>.<b> </b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:72pt;">(a)<b> </b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall be construed in accordance with laws of the State of Delaware, without regard to conflicts of law principles that would require application of the laws of any other jurisdiction. The parties irrevocably and unconditionally consent to submit to the exclusive jurisdiction in the Court of Chancery of the State of Delaware or, in the event (but only in the event) that the Court of Chancery declines to accept jurisdiction over a particular matter, any court of the United States located in the State of Delaware, solely and specifically for any action, proceeding or investigation in any court or before any governmental authority (&#8220;<b>Litigation</b>&#8221;) arising out of or relating to this Agreement and the transactions contemplated hereby. Each of the parties hereto hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion, as a defense, counterclaim or otherwise, in any such Litigation, any claim that it is not personally subject to the jurisdiction of the aforesaid courts for any reason other than the failure to serve process in accordance with this <u>Section 5.7</u>, that it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise), and to the fullest extent permitted by applicable law, that the Litigation in any such court is brought in an inconvenient forum, that the venue of such Litigation is improper, or that this Agreement, or the subject matter hereof, may not be enforced in or by such courts and further irrevocably waives, to the fullest extent permitted by applicable law, the benefit of any defense that would hinder, fetter or delay the levy, execution or collection of any amount to which the party is entitled pursuant to the final judgment of any court having jurisdiction. Each of the parties irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any and all rights to trial by jury in connection with any Litigation arising out of or relating to this Agreement or the transactions contemplated hereby.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:72pt;">(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the parties expressly acknowledges that the foregoing waiver is intended to be irrevocable under the laws of the State of Delaware and of the United States of America; provided that consent by each of the parties to jurisdiction and service contained in this <u>Section 6.8</u> is solely for the purpose referred to in this <u>Section 6.8</u> and shall not be deemed to be a general submission to said courts or in the State of Delaware other than for such purpose.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">6.9 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Expenses</u>. Except as otherwise provided herein, the Company, on the one hand, and the Seller, on the other hand, shall be solely responsible for their respective costs and expenses incurred in connection with the transactions contemplated hereby whether or not Closing shall have occurred; <i>provided, however</i>, that Seller shall be responsible (and, if applicable, reimburse the Company) for all Offering Expenses, and shall not be responsible for any out of pocket expenses incident to the Company&#8217;s performance under or compliance with the RR Agreement to effect the Offering, including, without limitation, all registration, filing, securities exchange listing and NYSE fees, all registration, filing, qualification and other fees and expenses of complying with securities or blue sky laws, fees of the Financial Industry Regulatory Authority, fees of transfer agents and registrars, all word processing, duplicating and printing expenses, the fees and disbursements of counsel and independent public accountants for the Company, including the expenses of any special audits or &#8220;comfort&#8221; letters required by or incident to such performance and compliance, and fees of the Company&#8217;s legal counsel and accounting advisors in connection therewith.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">6.10 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">6.11 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Third Party Beneficiaries</u>. Except as set forth in this Agreement, no person or entity shall be a third-party beneficiary of the representations, warranties, covenants and agreements made by any party.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">6.12 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination</u>. Notwithstanding anything to the contrary herein, this Agreement shall automatically, without any further action by any party hereto, terminate and be of no further force or effect upon the earlier to occur of: (a) August 19, 2022, if the Closing Date (as defined in the Underwriting Agreement) shall not have occurred on or prior to such date; and (b) at the election of Seller by written notice to the Company if the obligation of Seller to consummate the Closing shall have lapsed in accordance with <u>Section 1.6</u>; provided, however, that no such termination shall relieve any party hereto from liability for any willful breach of this Agreement and, provided, further, that the obligations of the parties set forth in Section 1.7 and Section 6 hereof shall survive any such termination and shall be enforceable hereunder. The parties may terminate this Agreement at any time prior to the Closing by mutual written consent.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">6.13 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Interpretation</u>. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the words &#8220;include,&#8221; &#8220;includes&#8221; or &#8220;including&#8221; are used in this Agreement, they shall be deemed to be followed by the words &#8220;without limitation.&#8221; The word &#8220;or&#8221; shall be disjunctive but not exclusive.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;"><i>(Signature page follows)</i></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify; text-indent: 36pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The parties have executed and delivered this Agreement as of the date first above written.</p>

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			<p style="margin-top: 0; margin-bottom: 0;"><b>TIDEWATER INC.</b></p>
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			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">By: </font></p>
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			<p style="margin-top: 0; margin-bottom: 0;">/s/ Sam Rubio</p>
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			<td style="width: 12%;" valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
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			<p style="margin-top: 0; margin-bottom: 0;">Name:</p>
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			<td style="width: 33%; border-bottom: 1px solid rgb(0, 0, 0);" valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;">Sam Rubio</p>
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			<p style="margin-top: 0; margin-bottom: 0;">Title:</p>
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			<p style="margin-top: 0; margin-bottom: 0;">Executive Vice President and CFO</p>
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			<td colspan="2" rowspan="1" style="width: 5%;" valign="top" width="3%"><b>BANYAN OVERSEAS LIMITED</b></td>
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			<td style="width: 5%;" valign="top" width="3%"><font style="font-family:'Times New Roman', Times, serif; font-size:10pt">By: </font></td>
			<td style="width: 33%; border-bottom: 1px solid rgb(0, 0, 0);" valign="top" width="35%">/s/ Martin James Murray</td>
			<td style="width: 12%;" valign="top" width="12%">&nbsp;</td>
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			<td style="width: 5%;" valign="top" width="3%">Name:</td>
			<td style="width: 33%; border-bottom: 1px solid rgb(0, 0, 0);" valign="top" width="35%">Martin James Murray</td>
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			<td style="width: 5%;" valign="top" width="3%">Title:</td>
			<td style="width: 33%; border-bottom: 1px solid rgb(0, 0, 0);" valign="top" width="35%">Director</td>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 8pt;"><i>[Signature page to the Warrant Repurchase Agreement]</i></p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Schedule I: </b><br>
<b>Certain Terms and Conditions to Offering</b></p>

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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Number of Firm Shares (as defined in the Underwriting Agreement):</p>
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			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">3,520,000</p>
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			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
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			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Number of Additional Shares (as defined in the Underwriting Agreement):</p>
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			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">528,000</p>
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			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Purchase Price (as defined in the Underwriting Agreement):</p>
			</td>
			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">$17.448 a share</p>
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			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
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			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Initial Public Offering Price:</p>
			</td>
			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">$17.850 a share</p>
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			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
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			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Selling Concession:</p>
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			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">$0.2412</p>
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			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
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			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Closing Date and Time:</p>
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			<td style="vertical-align: top; width: 50.7%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">August 12, 2022 9:00 a.m.</p>
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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;"><b>Exhibit A</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><u>FORM OF JOINT WRITTEN INSTRUCTIONS</u></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;text-indent:36pt;">[&#9679;], 2022</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">American Stock Transfer &amp; Trust Company, LLC</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6201 15th Avenue</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Brooklyn, New York 11219</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Attention:&nbsp; Corporate Actions</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;">Re: Escrow Account No. [&#9679;], among the Parties and American Stock Transfer &amp; Trust Company, LLC, as Escrow Agent (the &#8220;<b><i>Escrow Agent</i></b>&#8221;)</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The undersigned parties hereby give this joint written instruction (this &#8220;<b><i>Disbursement Notice</i></b>&#8221;) pursuant to <u>Section 4(a)</u> of that certain Escrow Agreement (the &#8220;<b><i>Escrow Agreement</i></b>&#8221;), dated August [&#9679;], 2022, by and among American Stock Transfer &amp; Trust Company, LLC, as escrow agent (the &#8220;<b><i>Escrow Agent</i></b>&#8221;), Tidewater Inc., a Delaware corporation (&#8220;<b><i>Recipient</i></b>&#8221;), and Banyan Overseas Limited, a limited company organized under the laws of Bermuda (&#8220;<b><i>Depositor</i></b>&#8221;), and direct the Escrow Agent to disburse and transfer on the books and records of Recipient that number of Escrowed Warrants set forth below and in the manner set forth below. Capitalized terms used but not defined in this Disbursement Notice shall have the meanings ascribed thereto in the Escrow Agreement.</p>

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			<td style="padding: 0pt 0pt 0pt 72pt; margin: 0pt 0pt 0pt 72pt; text-align: justify;">Number of Escrowed Warrants:</td>
			<td>[&#9679;]</td>
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			<td style="padding: 0pt 0pt 0pt 72pt; margin: 0pt 0pt 0pt 72pt; text-align: justify;">Account Number:</td>
			<td>[&#9679;]</td>
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			<td style="padding: 0pt 0pt 0pt 72pt; margin: 0pt 0pt 0pt 72pt; text-align: justify;">Account Holder:&nbsp;</td>
			<td>Tidewater Inc.</td>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">IN WITNESS WHEREOF, the undersigned have caused this Disbursement Notice to be executed and delivered on this ___ day of ________, 2022.</p>

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			<td colspan="2" rowspan="1" style="width: 3%;"><b>BANYAN OVERSEAS LIMITED:</b></td>
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			<td colspan="2" rowspan="1" style="width: 3%;">Name:</td>
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			<td colspan="2" rowspan="1" style="width: 3%;"><b>TIDEWATER INC.:</b></td>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>4
<FILENAME>ex_410639.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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			<td style="vertical-align: bottom;"><b>Exhibit 5.1</b></td>
			<td>&nbsp;</td>
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			<td>&nbsp;</td>
			<td>Norton Rose Fulbright US LL</td>
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			<td>August 12, 2022</td>
			<td>1301 McKinney, Suite 5100</td>
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			<td>&nbsp;</td>
			<td>Houston, Texas&nbsp; 77010-3095</td>
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			<td>&nbsp;</td>
			<td>United States</td>
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			<td>&nbsp;</td>
			<td>&nbsp;</td>
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			<td>Tel +1 713 651 5151</td>
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			<td>Tidewater Inc.</td>
			<td>Fax +1 713 651 5246</td>
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			<td>842 West Sam Houston Parkway N, Suite 400</td>
			<td>nortonrosefulbright.com</td>
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			<td>Houston, TX 77024</td>
			<td>&nbsp;</td>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Ladies and Gentlemen:</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">We have acted as counsel to Tidewater Inc., a Delaware corporation (the &#8220;<u>Company</u>&#8221;), in connection with the proposed issuance and sale by the Company of up to 4,048,000 shares of its common stock, par value $0.001 per share (the &#8220;<u>Shares</u>&#8221;). The Shares are to be issued pursuant to the Registration Statement on Form S&#8209;3 (Registration No. 333-234686), under the Securities Act of 1933, as amended (the &#8220;<u>Securities Act</u>&#8221;), filed with the Securities and Exchange Commission (the &#8220;<u>Commission</u>&#8221;) by the Company on November 14, 2019, including the base prospectus contained therein, as amended by Post-Effective Amendment No. 1 filed with the Commission on July 13, 2021 (the &#8220;<u>Registration Statement</u>&#8221;), and the preliminary prospectus supplement filed with the Commission on August 10, 2022&nbsp;and the final prospectus supplement filed with the Commission on August 11, 2022 relating to the offering of the Shares (collectively, the &#8220;<u>Prospectus Supplement</u>&#8221;).</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or the Prospectus Supplement, other than as expressly stated herein with respect to the issue of the Shares.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">As counsel to the Company, we have examined originals or copies of certain corporate records of the Company, certificates and other communications of public officials, certificates of officers of the Company and such other documents as we have deemed relevant or necessary for the purpose of rendering the opinions expressed herein. As to questions of fact material to those opinions, we have, to the extent we deemed appropriate, relied on certificates of officers of the Company and on certificates and other communications of public officials. We have assumed that the persons identified to us as officers of the Company are actually serving as such and that any certificates representing the Shares will be properly executed by one or more such persons. We have assumed the genuineness of all signatures on, and the authenticity of, all documents submitted to us as originals, the conformity to authentic original documents of all documents submitted to us as copies thereof, the due authorization, execution and delivery by the parties thereto other than the Company of all documents examined by us, that the Company will receive any required consideration for such Shares and the legal capacity of each individual who signed any of those documents. Without limiting the foregoing, we have examined the Underwriting Agreement (the &#8220;<u>Agreement</u>&#8221;), dated August 9, 2022, by and between the Company and Morgan Stanley &amp; Co. LLC.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify; text-indent: 36pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Based upon the foregoing, and subject to the limitations, qualifications, assumptions and exceptions stated herein, we are of the opinion that when the Shares shall have been issued and delivered in accordance with the Agreement and for the consideration provided for therein, such Shares will be validly issued, fully paid and nonassessable.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The opinions expressed herein are limited exclusively to the laws of the State of Delaware and the federal laws of the United States of America, and we are expressing no opinion as to the effect of the laws of any other jurisdiction.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 8pt; font-variant: normal; margin: 0pt;">Norton Rose Fulbright US LLP is a limited liability partnership registered under the laws of Texas.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 8pt; font-variant: normal; margin: 0pt;">Norton Rose Fulbright US LLP, Norton Rose Fulbright LLP, Norton Rose Fulbright Australia, Norton Rose Fulbright Canada LLP and Norton Rose Fulbright South Africa Inc are separate legal entities and all of them are members of Norton Rose Fulbright Verein, a Swiss verein. Norton Rose Fulbright Verein helps coordinate the activities of the members but does not itself provide legal services to clients. Details of each entity, with certain regulatory information, are available at nortonrosefulbright.com.</p>

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			<td style="width: 50%;">Tidewater Inc.</td>
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			<td>August 12, 2022</td>
			<td>&nbsp;</td>
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			<td>Page 2</td>
			<td>&nbsp;</td>
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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Securities Act. We consent to your filing this opinion as an exhibit to the Company&#8217;s Current Report on Form 8-K dated August 12, 2022 and to the reference to our firm contained in the Prospectus Supplement under the heading &#8220;Legal Matters.&#8221; In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder.</p>

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			<p style="margin-top: 0; margin-bottom: 0;">Very truly yours,</p>
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			<td colspan="2" valign="top" width="38%">/s/<i>&nbsp;</i>Norton Rose Fulbright US LLP</td>
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			<td colspan="2" valign="top" width="38%">Norton Rose Fulbright US LLP</td>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>5
<FILENAME>ex_410640.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 99.1</b></font></p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Tidewater Inc.</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">842 West Sam Houston Parkway North, Suite 400</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Houston, TX 77024, USA</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">+1.713.470.5300</p>
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><b>TIDEWATER ANNOUNCES PROPOSED PUBLIC OFFERING OF COMMON STOCK</b></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>HOUSTON, August 9, 2022</b> - Tidewater Inc. (NYSE: TDW) (the &#8220;Company&#8221; or &#8220;Tidewater&#8221;) today announced the commencement of a registered underwritten public offering of up to 3,520,000<b> </b>shares of its common stock. In addition, the Company intends to grant the underwriter a 30-day option to purchase up to an additional 528,000<b> </b>shares of its common stock. The Company intends to use the net proceeds from the offering (before expenses) to repurchase from Banyan Overseas Limited (&#8220;Banyan&#8221;) a number of warrants exercisable for shares of the Company&#8217;s common stock (&#8220;Warrants&#8221;) equal to the number of shares of the Company&#8217;s common stock sold in the offering (including any shares sold pursuant to the underwriter&#8217;s option to purchase additional shares of the Company&#8217;s common stock). The Warrants were issued to Banyan in connection with the Company&#8217;s acquisition of all of the issued and outstanding shares of Swire Pacific Offshore Holdings Limited (now known as Tidewater Pacific Offshore Holdings Limited) from Banyan.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Morgan Stanley is acting as the sole underwriter for the offering. The offering is subject to market and other customary closing conditions, and there can be no assurance as to whether or when the offering may be completed.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">The shares of common stock described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-234686), including a base prospectus, which was previously filed by the Company with the Securities and Exchange Commission (&#8220;SEC&#8221;) and declared effective on July 20, 2021. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC&#8217;s website at www.sec.gov. When available, copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained by contacting: Morgan Stanley &amp; Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>About Tidewater </b></p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Tidewater owns and operates one of the largest fleets of offshore support vessels in the industry, with more than 65 years of experience supporting offshore energy exploration, production, generation and offshore wind activities worldwide.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Forward-Looking Statements</b></p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Tidewater notes that certain statements set forth in this press release contain certain forward-looking statements which reflect our current view with respect to future events and future financial performance. Forward-looking statements are all statements other than statements of historical fact, which can generally be identified by the use of such terminology as &#8220;may,&#8221; &#8220;can,&#8221; &#8220;potential,&#8221; &#8220;expect,&#8221; &#8220;project,&#8221; &#8220;target,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;forecast,&#8221; &#8220;believe,&#8221; &#8220;think,&#8221; &#8220;could,&#8221; &#8220;continue,&#8221; &#8220;intend,&#8221; &#8220;seek,&#8221; &#8220;plan,&#8221; and similar expressions, and are not guarantees or assurances of future performance or events. Such statements include, but are not limited to, statements relating to the timing, size and completion of our proposed offering and our intended use of proceeds. All such forward-looking statements are subject to risks and uncertainties, many of which are beyond the control of the Company, and our future results of operations could differ materially from our historical results or current expectations reflected by such forward-looking statements. Investors should carefully consider the risk factors described in detail in the Company&#8217;s most recent Form 10-K, most recent Form 10-Q, and in similar sections of other filings made by the Company with the SEC from time to time. The Company&#8217;s filings can be obtained free of charge on the SEC&#8217;s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this press release to reflect any change in the Company&#8217;s expectations or any change in events, conditions or circumstances on which any statement is based. Forward-looking statements and written and oral forward-looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports filed by the Company with the SEC.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Contacts</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Tidewater Inc.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">West Gotcher</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Vice President,</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Finance and Investor Relations</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">+1.713.470.5285</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">SOURCE: Tidewater Inc.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>6
<FILENAME>ex_410641.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 99.2</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Tidewater Inc.</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">842 West Sam Houston Parkway North, Suite 400</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Houston, TX 77024, USA</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">+1.713.470.5300</p>
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><b>TIDEWATER ANNOUNCES PRICING OF PUBLIC OFFERING OF COMMON STOCK</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>HOUSTON, August 10, 2022</b> - Tidewater Inc. (NYSE: TDW) (the &#8220;Company&#8221; or &#8220;Tidewater&#8221;) today announced the pricing of its registered underwritten public offering of 3,520,000 shares of its common stock at a public offering price of $17.85 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $62,832,000. In addition, the Company has granted the underwriter a 30-day option to purchase up to an additional 528,000 shares of its common stock at the public offering price, less the underwriting discounts. The Company intends to use the net proceeds from the offering (before expenses) to repurchase from Banyan Overseas Limited (&#8220;Banyan&#8221;) a number of warrants exercisable for shares of the Company&#8217;s common stock (&#8220;Warrants&#8221;) equal to the number of shares of the Company&#8217;s common stock sold in the offering (including any shares sold pursuant to the underwriter&#8217;s option to purchase additional shares of the Company&#8217;s common stock). The Warrants were issued to Banyan in connection with the Company&#8217;s acquisition of all of the issued and outstanding shares of Swire Pacific Offshore Holdings Limited (now known as Tidewater Pacific Offshore Holdings Limited) from Banyan.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Morgan Stanley is acting as the sole underwriter for the offering. The offering is expected to close on August 12, 2022 subject to the satisfaction of customary closing conditions.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">The shares of common stock described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-234686), including a base prospectus, which was previously filed by the Company with the Securities and Exchange Commission (&#8220;SEC&#8221;) and declared effective on July 20, 2021. A preliminary prospectus supplement and accompanying</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">prospectus relating to the offering have been filed with the SEC and will be available on the SEC&#8217;s website at www.sec.gov. The securities are being offered only by means of a prospectus supplement and accompanying prospectus forming a part of the effective registration statement. Copies of the preliminary prospectus supplement and the accompanying prospectus and, when available, copies of the final prospectus supplement and the accompanying prospectus may also be obtained by contacting: Morgan Stanley &amp; Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>About Tidewater </b></p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Tidewater owns and operates one of the largest fleets of offshore support vessels in the industry, with more than 65 years of experience supporting offshore energy exploration, production, generation and offshore wind activities worldwide.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Forward-Looking Statements</b></p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Tidewater notes that certain statements set forth in this press release contain certain forward-looking statements which reflect our current view with respect to future events and future financial performance. Forward-looking statements are all statements other than statements of historical fact, which can generally be identified by the use of such terminology as &#8220;may,&#8221; &#8220;can,&#8221; &#8220;potential,&#8221; &#8220;expect,&#8221; &#8220;project,&#8221; &#8220;target,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;forecast,&#8221; &#8220;believe,&#8221; &#8220;think,&#8221; &#8220;could,&#8221; &#8220;continue,&#8221; &#8220;intend,&#8221; &#8220;seek,&#8221; &#8220;plan,&#8221; and similar expressions, and are not guarantees or assurances of future performance or events. Such statements include, but are not limited to, statements relating to the timing, size and completion of our offering and our intended use of proceeds. All such forward-looking statements are subject to risks and uncertainties, many of which are beyond the control of the Company, and our future results of operations could differ materially from our historical results or current expectations reflected by such forward-looking statements. Investors should carefully consider the risk factors described in detail in the Company&#8217;s most recent Form 10-K, most recent Form 10-Q, and in similar sections of other filings made by the Company with the SEC from time to time. The Company&#8217;s filings can be obtained free of charge on the SEC&#8217;s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this press release to reflect any change in the Company&#8217;s expectations or any change in events, conditions or circumstances on which any statement is based. Forward-looking statements and written and oral forward-looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports filed by the Company with the SEC.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Contacts</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Tidewater Inc.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">West Gotcher</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Vice President,</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Finance and Investor Relations</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">+1.713.470.5285</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">SOURCE: Tidewater Inc.</p>

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<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_WrittenCommunications" xlink:label="dei_WrittenCommunications" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_PreCommencementTenderOffer" xlink:label="dei_PreCommencementTenderOffer" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="us-gaap_StatementClassOfStockAxis" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="us-gaap_ClassOfStockDomain" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="us-gaap_ClassOfStockDomain-default" xlink:type="locator"/>
<link:loc xlink:href="tdw-20220809.xsd#tdw_CommonStockCustomMember" xlink:label="tdw_CommonStockCustomMember" xlink:type="locator"/>
<link:loc xlink:href="tdw-20220809.xsd#tdw_SeriesAWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:label="tdw_SeriesAWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="locator"/>
<link:loc xlink:href="tdw-20220809.xsd#tdw_SeriesBWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:label="tdw_SeriesBWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="locator"/>
<link:loc xlink:href="tdw-20220809.xsd#tdw_WarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:label="tdw_WarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="locator"/>
<link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
<link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
<link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_ClassOfStockDomain" xlink:type="arc"/>
<link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_ClassOfStockDomain-default" xlink:type="arc"/>

<link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="dei_DocumentInformationTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
<link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="dei_DocumentInformationTable" xlink:to="us-gaap_StatementClassOfStockAxis" xlink:type="arc"/>

<link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="tdw_CommonStockCustomMember" xlink:type="arc"/>
<link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="tdw_SeriesAWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="arc"/>
<link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="tdw_SeriesBWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="arc"/>
<link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="tdw_WarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="arc"/>

<link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentInformationTable" xlink:type="arc"/>
<link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentType" xlink:type="arc"/>
<link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentPeriodEndDate" xlink:type="arc"/>
<link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityRegistrantName" xlink:type="arc"/>
<link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityIncorporationStateCountryCode" xlink:type="arc"/>
<link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityFileNumber" xlink:type="arc"/>
<link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityTaxIdentificationNumber" xlink:type="arc"/>
<link:definitionArc order="7" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityAddressAddressLine1" xlink:type="arc"/>
<link:definitionArc order="8" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityAddressCityOrTown" xlink:type="arc"/>
<link:definitionArc order="9" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityAddressStateOrProvince" xlink:type="arc"/>
<link:definitionArc order="10" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityAddressPostalZipCode" xlink:type="arc"/>
<link:definitionArc order="11" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_CityAreaCode" xlink:type="arc"/>
<link:definitionArc order="12" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_LocalPhoneNumber" xlink:type="arc"/>
<link:definitionArc order="13" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_WrittenCommunications" xlink:type="arc"/>
<link:definitionArc order="14" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_SolicitingMaterial" xlink:type="arc"/>
<link:definitionArc order="15" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_PreCommencementTenderOffer" xlink:type="arc"/>
<link:definitionArc order="16" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_PreCommencementIssuerTenderOffer" xlink:type="arc"/>
<link:definitionArc order="17" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_Security12bTitle" xlink:type="arc"/>
<link:definitionArc order="18" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_TradingSymbol" xlink:type="arc"/>
<link:definitionArc order="19" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_SecurityExchangeName" xlink:type="arc"/>
<link:definitionArc order="20" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityEmergingGrowthCompany" xlink:type="arc"/>
<link:definitionArc order="21" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_AmendmentFlag" xlink:type="arc"/>
<link:definitionArc order="22" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCentralIndexKey" xlink:type="arc"/>

</link:definitionLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>9
<FILENAME>tdw-20220809_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
<!--Generated by ThunderDome Portal - 8/12/2022 2:41:37 PM-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" xlink:type="simple"/>
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" xlink:type="simple"/>
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" xlink:type="simple"/>
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" xlink:type="simple"/>
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" xlink:type="simple"/>
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" xlink:type="simple"/>
<link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" xlink:type="simple"/>
<link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
<link:label xlink:label="dei_EntityDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
<link:label xlink:label="dei_LegalEntityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" xlink:type="locator"/>
<link:label xlink:label="dei_DocumentInformationLineItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentInformationLineItems-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentInformationTable" xlink:label="dei_DocumentInformationTable" xlink:type="locator"/>
<link:label xlink:label="dei_DocumentInformationTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationTable" xlink:to="dei_DocumentInformationTable-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:type="locator"/>
<link:label xlink:label="dei_DocumentType-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document, Type</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:type="locator"/>
<link:label xlink:label="dei_DocumentPeriodEndDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document, Period End Date</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:type="locator"/>
<link:label xlink:label="dei_EntityRegistrantName-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity, Registrant Name</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" xlink:type="locator"/>
<link:label xlink:label="dei_EntityIncorporationStateCountryCode-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity, Incorporation, State or Country Code</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" xlink:type="locator"/>
<link:label xlink:label="dei_EntityFileNumber-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity, File Number</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" xlink:type="locator"/>
<link:label xlink:label="dei_EntityTaxIdentificationNumber-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity, Tax Identification Number</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" xlink:type="locator"/>
<link:label xlink:label="dei_EntityAddressAddressLine1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity, Address, Address Line One</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" xlink:type="locator"/>
<link:label xlink:label="dei_EntityAddressCityOrTown-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity, Address, City or Town</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" xlink:type="locator"/>
<link:label xlink:label="dei_EntityAddressStateOrProvince-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity, Address, State or Province</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" xlink:type="locator"/>
<link:label xlink:label="dei_EntityAddressPostalZipCode-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity, Address, Postal Zip Code</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" xlink:type="locator"/>
<link:label xlink:label="dei_CityAreaCode-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" xlink:type="locator"/>
<link:label xlink:label="dei_LocalPhoneNumber-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_WrittenCommunications" xlink:label="dei_WrittenCommunications" xlink:type="locator"/>
<link:label xlink:label="dei_WrittenCommunications-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Written Communications</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" xlink:type="locator"/>
<link:label xlink:label="dei_SolicitingMaterial-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Soliciting Material</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_PreCommencementTenderOffer" xlink:label="dei_PreCommencementTenderOffer" xlink:type="locator"/>
<link:label xlink:label="dei_PreCommencementTenderOffer-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" xlink:type="locator"/>
<link:label xlink:label="dei_PreCommencementIssuerTenderOffer-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" xlink:type="locator"/>
<link:label xlink:label="dei_Security12bTitle-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:type="locator"/>
<link:label xlink:label="dei_TradingSymbol-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" xlink:type="locator"/>
<link:label xlink:label="dei_SecurityExchangeName-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" xlink:type="locator"/>
<link:label xlink:label="dei_EntityEmergingGrowthCompany-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity, Emerging Growth Company</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:type="locator"/>
<link:label xlink:label="dei_AmendmentFlag-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:type="locator"/>
<link:label xlink:label="dei_EntityCentralIndexKey-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity, Central Index Key</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="us-gaap_StatementClassOfStockAxis" xlink:type="locator"/>
<link:label xlink:label="us-gaap_StatementClassOfStockAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis-label" xlink:type="arc"/>

<link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="us-gaap_ClassOfStockDomain" xlink:type="locator"/>
<link:label xlink:label="us-gaap_ClassOfStockDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="us-gaap_ClassOfStockDomain-label" xlink:type="arc"/>

<link:loc xlink:href="tdw-20220809.xsd#tdw_CommonStockCustomMember" xlink:label="tdw_CommonStockCustomMember" xlink:type="locator"/>
<link:label xlink:label="tdw_CommonStockCustomMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CommonStock Custom [Member]</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tdw_CommonStockCustomMember" xlink:to="tdw_CommonStockCustomMember-label" xlink:type="arc"/>

<link:loc xlink:href="tdw-20220809.xsd#tdw_SeriesAWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:label="tdw_SeriesAWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="locator"/>
<link:label xlink:label="tdw_SeriesAWarrantsToPurchaseSharesOfCommonStockCustomMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SeriesAWarrantsToPurchaseSharesOfCommonStock Custom [Member]</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tdw_SeriesAWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:to="tdw_SeriesAWarrantsToPurchaseSharesOfCommonStockCustomMember-label" xlink:type="arc"/>

<link:loc xlink:href="tdw-20220809.xsd#tdw_SeriesBWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:label="tdw_SeriesBWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="locator"/>
<link:label xlink:label="tdw_SeriesBWarrantsToPurchaseSharesOfCommonStockCustomMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SeriesBWarrantsToPurchaseSharesOfCommonStock Custom [Member]</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tdw_SeriesBWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:to="tdw_SeriesBWarrantsToPurchaseSharesOfCommonStockCustomMember-label" xlink:type="arc"/>

<link:loc xlink:href="tdw-20220809.xsd#tdw_WarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:label="tdw_WarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="locator"/>
<link:label xlink:label="tdw_WarrantsToPurchaseSharesOfCommonStockCustomMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">WarrantsToPurchaseSharesOfCommonStock Custom [Member]</link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tdw_WarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:to="tdw_WarrantsToPurchaseSharesOfCommonStockCustomMember-label" xlink:type="arc"/>


</link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>10
<FILENAME>tdw-20220809_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
<!--Generated by ThunderDome Portal - 8/12/2022 2:41:37 PM-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
<link:roleRef roleURI="http://www.tdw.com/20220809/role/statement-document-and-entity-information" xlink:href="tdw-20220809.xsd#statement-document-and-entity-information" xlink:type="simple"/>
<link:presentationLink xlink:role="http://www.tdw.com/20220809/role/statement-document-and-entity-information" xlink:type="extended">
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentInformationTable" xlink:label="dei_DocumentInformationTable" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_WrittenCommunications" xlink:label="dei_WrittenCommunications" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_PreCommencementTenderOffer" xlink:label="dei_PreCommencementTenderOffer" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="us-gaap_StatementClassOfStockAxis" xlink:type="locator"/>
<link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="us-gaap_ClassOfStockDomain" xlink:type="locator"/>
<link:loc xlink:href="tdw-20220809.xsd#tdw_CommonStockCustomMember" xlink:label="tdw_CommonStockCustomMember" xlink:type="locator"/>
<link:loc xlink:href="tdw-20220809.xsd#tdw_SeriesAWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:label="tdw_SeriesAWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="locator"/>
<link:loc xlink:href="tdw-20220809.xsd#tdw_SeriesBWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:label="tdw_SeriesBWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="locator"/>
<link:loc xlink:href="tdw-20220809.xsd#tdw_WarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:label="tdw_WarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="locator"/>
<link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" xlink:type="arc"/>
<link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_ClassOfStockDomain" xlink:type="arc"/>
<link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="tdw_CommonStockCustomMember" xlink:type="arc"/>
<link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="tdw_SeriesAWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="arc"/>
<link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="tdw_SeriesBWarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="arc"/>
<link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="tdw_WarrantsToPurchaseSharesOfCommonStockCustomMember" xlink:type="arc"/>

<link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationTable" xlink:to="dei_LegalEntityAxis" xlink:type="arc"/>
<link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationTable" xlink:to="us-gaap_StatementClassOfStockAxis" xlink:type="arc"/>

<link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationTable" xlink:to="dei_DocumentInformationLineItems" xlink:type="arc"/>
<link:presentationArc order="0" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityRegistrantName" xlink:type="arc"/>
<link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentType" xlink:type="arc"/>
<link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentPeriodEndDate" xlink:type="arc"/>
<link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityIncorporationStateCountryCode" xlink:type="arc"/>
<link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityFileNumber" xlink:type="arc"/>
<link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityTaxIdentificationNumber" xlink:type="arc"/>
<link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityAddressAddressLine1" xlink:type="arc"/>
<link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityAddressCityOrTown" xlink:type="arc"/>
<link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityAddressStateOrProvince" xlink:type="arc"/>
<link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/label" xbrldt:closed="true" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityAddressPostalZipCode" xlink:type="arc"/>
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<TYPE>XML
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<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.22.2</span><table class="report" border="0" cellspacing="2" id="idm140626259006048">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document And Entity Information<br></strong></div></th>
<th class="th"><div>Aug. 09, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity, Registrant Name</a></td>
<td class="text">TIDEWATER INC.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document, Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document, Period End Date</a></td>
<td class="text">Aug.  09,  2022<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity, Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity, File Number</a></td>
<td class="text">1-6311<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity, Tax Identification Number</a></td>
<td class="text">72-0487776<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity, Address, Address Line One</a></td>
<td class="text">842 West Sam Houston Parkway North, Suite 400<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity, Address, City or Town</a></td>
<td class="text">Houston<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity, Address, State or Province</a></td>
<td class="text">TX<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity, Address, Postal Zip Code</a></td>
<td class="text">77024<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">713<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">470-5300<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity, Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity, Central Index Key</a></td>
<td class="text">0000098222<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=tdw_CommonStockCustomMember', window );">CommonStock Custom [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common stock<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TDW<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=tdw_SeriesAWarrantsToPurchaseSharesOfCommonStockCustomMember', window );">SeriesAWarrantsToPurchaseSharesOfCommonStock Custom [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Series A Warrants to purchase shares of common stock<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TDW.WS.A<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=tdw_SeriesBWarrantsToPurchaseSharesOfCommonStockCustomMember', window );">SeriesBWarrantsToPurchaseSharesOfCommonStock Custom [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Series B Warrants to purchase shares of common stock<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TDW.WS.B<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=tdw_WarrantsToPurchaseSharesOfCommonStockCustomMember', window );">WarrantsToPurchaseSharesOfCommonStock Custom [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Warrants to purchase shares of common stock<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TDW.WS<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSEAMER<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
