EXHIBIT 10.7
AMENDMENT NO. 1 TO
EMPLOYMENT AND STOCK COMPENSATION AGREEMENT
This Amendment No. 1 to Employment and Stock Compensation Agreement (the
"Amendment"), effective as of May 21, 1997, is entered into by and among Xxxxxx
Xxxxxxx International Inc., a Delaware corporation (the "Company"), HAM Marine,
Inc., a Mississippi corporation ("HAM Marine"), and Xxxx X. Xxxxxx ("Xxxxxx").
WHEREAS, the Company, HAM Marine and Xxxxxx entered into an Employment and
Stock Compensation Agreement dated May 21, 1997, (the "Agreement"); and
WHEREAS, the Company, HAM Marine and Xxxxxx desire to amend certain
provisions of the Agreement.
Therefore, in consideration of the mutual promises, terms, covenants and
conditions set forth herein and in the Agreement, and the performance of each,
it is hereby agreed as follows:
1. Section 3.5 Piggyback Registration Rights of the Agreement is hereby
deleted in its entirety.
2. Defined terms used but not otherwise defined herein shall have the
meanings set forth in the Agreement.
IN WITNESS WHEREOF, the parties to this Amendment have caused this
Amendment to be executed as of the day and year first written above.
XXXXXX XXXXXXX INTERNATIONAL INC.
By:___________________________________
Name:
Title:
HAM MARINE, INC.
By:___________________________________
Name:
Title:
EMPLOYEE:
______________________________________
Xxxx X. Xxxxxx
