Exhibit 10.19
XXXXXX OFFSHORE LLC
0000 Xxxx Xxxx Xxxxx
Xxxxx 0000
Xxxxxxx, Xxxxx 00000
August 5, 1997
Xx. Xxxxxx Xxxxxx
Bassoe Rig Partners Ltd.
0000 Xxxx Xxxx Xxxxx, Xxxxx 0000
Xxxxxxx, Xxxxx 00000
Re: Brokerage Arrangement
Dear Xxxxxx:
In consideration for Bassoe Rig Partners Ltd. ("Bassoe") providing
brokerage services in connection with the contract between Xxxxxx Offshore
LLC ("Xxxxxx Offshore") and Amfels, Inc. ("Amfels") for the construction of a
XxXxxxxxxx Enhanced 116-C Jack-Up Drilling Rig and a XxXxxxxxxx Super 116
Jack-Up Drilling Rig (the "Rigs"), Bassoe will receive a brokerage fee of
$505,000 on each of the Rigs payable upon delivery of each of the Rigs. Such
brokerage fees will be included in the cost of the Rigs chargeable by Amfels.
In addition, in consideration for Bassoe's services in future rig
transactions, Xxxxxx Offshore agrees that Bassoe shall be the exclusive
broker for Xxxxxx Offshore, and the two limited partnerships that will be
formed to own the Rigs, on any future rig transactions to the extent that the
services of a ship broker are used, and so long as Bassoe's fees are not in
excess of market brokerage rates charged by unrelated third parties for
comparable transactions.
Please evidence the agreement of Bassoe to the foregoing by having an
authorized representative of Bassoe sign in the spaces provided below and
providing an executed counterpart to the undersigned. Please contact me if you
have any questions or comments.
Sincerely,
XXXXXX OFFSHORE LLC
By: /s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx, President and
Chief Executive Officer
Bassoe Rig Partners Ltd.
August 5, 1997
Page 2
ACKNOWLEDGED AND AGREED
this 5th day of August 1997
BASSOE RIG PARTNERS LTD.
By: /s/ X. X. Xxxxxxxxx
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Name: X. X. Xxxxxxxxx
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Title: Director
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