Exhibit 10.24

                               FIRST AMENDMENT TO
                            MAVERICK TUBE CORPORATION
                           DIRECTOR STOCK OPTION PLAN


     THIS FIRST  AMENDMENT TO MAVERICK TUBE  CORPORATION  DIRECTOR  STOCK OPTION
PLAN ("First Amendment") is adopted as of this 22nd day of October, 1996.

     WHEREAS, Maverick Tube Corporation, a Delaware corporation ("Maverick") has
established  the  Maverick  Tube  Corporation  Director  Stock  Option Plan (the
"Plan") dated February 15, 1995;

     WHEREAS,  Section 11 of the Plan  provides,  among other  things,  that the
Board of Directors of Maverick (the "Board") may amend the Plan as it shall deem
advisable and in the best interests of Maverick,  subject to certain conditions;
and
     WHEREAS,  the  Board  believes  that it would be in the  best  interest  of
Maverick to amend the Plan as provided herein.

         NOW, THEREFORE, the Plan is hereby amended as follows:

     1.  Paragraph (k) of Section 2 of the Plan is hereby  amended by adding the
following  proviso  before the period ending said  paragraph  (a), which proviso
shall read as follows:

                  "; provided,  however, that with respect to a director who has
                  served as a director since the beginning of a fiscal year but 
                  first becomes an Eligible  Director  subsequent  to the first
                  business day after the annual meeting of the  stockholders  of
                  the Company ensuing from the beginning of such fiscal year, 
                  the Option Date shall mean the first business day after such 
                  director becomes an Eligible Director."

     2. Paragraph (a) of Section 5 of the Plan is hereby deleted in its entirety
and the following substituted in lieu thereof:

                  "(a)     For  fiscal  year  1996,  each  person  who is an  
                  Eligible  Director  on an  Option  Date (commencing  on the 
                  Option Date for 1996) shall  receive an Option to acquire 
                  2,000 shares of Stock at a per share  purchase  price equal 
                  to the Fair Market  Value of the Stock on the Option Date;  
                  provided,  however, that each person who has served as a 
                  director of Maverick  since the  beginning  of fiscal year 
                  of 1996 and, subsequent to the annual  meeting held in 1996 
                  becomes an Eligible  Director on or before  October 31,  1996
                  shall receive  Options to acquire 2,000 shares of Stock at
                  a per share purchase price equal to the per share
                  Fair Market Value of the Stock on the applicable  Option 
                  Date. In each  subsequent  fiscal year  (commencing with
                  fiscal year 1997),  each  person (i) who is an Eligible  
                  Director on the first  business  day after the annual  
                  meeting of the  stockholders  of the Company held in such 
                  fiscal  year,  or (ii) who has served as a director  of  
                  Maverick  since the  beginning  of such  fiscal  year and,  
                  subsequent  to the annual  meeting occurring in such fiscal 
                  year,  becomes an Eligible Director on or before the end of
                  such fiscal year, shall receive  Options to acquire 3,750 
                  shares of Stock at a per share  purchase price equal to 
                  the per share Fair Market Value of the Stock on the 
                  applicable Option Date."

     3. Paragraph (a) of Section 4 of the Plan is hereby deleted in its entirety
and the following substituted in lieu thereof:

                  "(a)     Subject to the  provisions of Section 10 hereof,
                  a maximum of 100,000 shares of Stock may be issued pursuant
                  to the exercise of Options granted under the Plan."

     4. This First  Amendment  shall be  effective  for fiscal year 1996 and all
subsequent  fiscal years of  Maverick,  and all  references  in the Plan to "the
Plan"  shall be  deemed  to  include  this  First  Amendment  from and after the
effectiveness hereof.

     IN  WITNESS  WHEREOF,  this  First  Amendment  has been  duly  executed  by
authority of the Board as of the day and year first above written.

                                          MAVERICK TUBE CORPORATION

                                             /s/ Gregg M. Eisenberg

                                          By: 
                                          Title:  President and Chief
                                                  Executive Officer