Exhibit 10.27

Tidewater Inc.

Summary of Director Compensation Arrangements

as of April 1, 2012

For service as a non-management director, compensation is as follows:

• An annual cash retainer of $60,000;

• An additional annual cash retainer of $20,000 for the lead director;

• An additional annual cash retainer of $15,000 for the chair of each of the audit committee and the compensation committee, and $10,000 for the chair of each of the nominating and corporate governance committee and the finance and investment committee;

• Committee meeting fees of $1,500 per meeting;

• An annual grant of deferred stock units under the Directors Deferred Stock Units Plan valued at date of grant at $115,000;

• Reimbursement of reasonable travel and other out-of-pocket expenses incurred in connection with attendance at meetings of the board of directors and its committees;

• Participation in the company’s Gift Matching Program under which the company matches a director’s contribution to an educational institution or foundation up to $5,000 per year; and

• For directors who were members of the board prior to March 31, 2006, accrued benefits under the now frozen Non-Qualified Pension Plan for Outside Directors of Tidewater.