Document:

INTERCORPORATE SERVICES AGREEMENT

     This INTERCORPORATE  SERVICES AGREEMENT (the "Agreement"),  effective as of
January 1, 2002,  amends and  supersedes  that certain  Intercorporate  Services
Agreement  effective  as of  January  1, 2001  between  CONTRAN  CORPORATION,  a
Delaware corporation ("Contran"),  and KEYSTONE CONSOLIDATED INDUSTRIES, INC., a
Delaware corporation ("Recipient").

                                    Recitals

     A.  Employees and agents of Contran and  affiliates  of Contran,  including
Harold C. Simmons,  perform management,  financial and administrative  functions
for Recipient without direct compensation from Recipient.

     B. Recipient does not separately  maintain the full internal  capability to
perform all necessary  management,  financial and administrative  functions that
Recipient requires.

     C. The cost of maintaining the additional  personnel by Recipient necessary
to perform the functions provided for by this Agreement would exceed the fee set
forth in Section 3 of this Agreement and that the terms of this Agreement are no
less favorable to Recipient than could  otherwise be obtained from a third party
for comparable services.

     D. Recipient  desires to continue  receiving the management,  financial and
administrative  services presently provided by Contran and affiliates of Contran
and Contran is willing to continue to provide such  services  under the terms of
this Agreement.

                                    Agreement

     For  and in  consideration  of the  mutual  premises,  representations  and
covenants herein contained, the parties hereto mutually agree as follows:

     Section 1.  Services to be Provided.  Contran  agrees to make  available to
Recipient,  upon request, the following services (the "Services") to be rendered
by the internal staff of Contran and affiliates of Contran:

          (a) Consultation and assistance in the development and  implementation
     of Recipient's corporate business strategies, plans and objectives;

          (b) Consultation and assistance in management and conduct of corporate
     affairs and corporate governance  consistent with the charter and bylaws of
     Recipient;

          (c)  Consultation  and assistance in maintenance of financial  records
     and  controls,  including  preparation  and  review of  periodic  financial
     statements and reports to be filed with public and regulatory  entities and
     those  required to be prepared for  financial  institutions  or pursuant to
     indentures and credit agreements;

          (d)  Consultation  and assistance in cash  management and in arranging
     financing necessary to implement the business plans of Recipient;

          (e) Consultation and assistance in tax management and  administration,
     including,  without limitation,  preparation and filing of tax returns, tax
     reporting, examinations by government authorities and tax planning;

          (f)  Consultation  and  assistance  in performing  internal  audit and
     control functions;

          (g) Consultation and assistance with respect to employee benefit plans
     and incentive compensation arrangements;

          (h) Certain  administration  and  management  services with respect to
     Recipient's insurance and risk management needs, including:

          (i) management of claims (including  insured and self-insured  workers
     compensation and liability claims);

          (ii) budgeting and related activities;

          (iii) coordination of property loss control program; and

          (iv)  administration of Recipient's  insurance program,  excluding all
     employee benefit and welfare related programs; and

          (i) Such other  services as may be requested by Recipient from time to
     time.

This  Agreement  does not apply to, and the Services  provided for herein do not
include,  any services  that Glenn R. Simmons or Steven L. Watson may provide to
Recipient  in their roles as members of  Recipient's  board of  directors or any
other activity related to such board of directors.

     Section 2. Miscellaneous  Services.  It is the intent of the parties hereto
that Contran provide only the Services requested by Recipient in connection with
routine  management,  financial  and  administrative  functions  related  to the
ongoing  operations  of  Recipient  and not with  respect to  special  projects,
including  corporate  investments,  acquisitions and  divestitures.  The parties
hereto  contemplate that the Services rendered in connection with the conduct of
Recipient's  business  will  be on a scale  compared  to  that  existing  on the
effective  date of this  Agreement,  adjusted for internal  corporate  growth or
contraction, but not for major corporate acquisitions or divestitures,  and that
adjustments  may be required to the terms of this Agreement in the event of such
major corporate acquisitions,  divestitures or special projects.  Recipient will
continue to bear all other costs required for outside  services  including,  but
not  limited  to,  the  outside  services  of  attorneys,   auditors,  trustees,
consultants, transfer agents and registrars, and it is expressly understood that
Contran  assumes no  liability  for any  expenses or  services  other than those
stated in Section 1. In addition to the fee paid to Contran by Recipient for the
Services provided pursuant to this Agreement,  Recipient will pay to Contran the
amount of out-of-pocket costs incurred by Contran in rendering such Services.

     Section 3. Fee for Services.  Recipient  agrees to pay to Contran  $282,500
quarterly on the first business day of each quarter, commencing as of January 1,
2002, pursuant to this Agreement.

     Section 4. Original  Term.  Subject to the  provisions of Section 5 hereof,
the original  term of this  Agreement  shall be from January 1, 2002 to December
31, 2002.

     Section  5.   Extensions.   This   Agreement   shall  be   extended   on  a
quarter-to-quarter  basis  after the  expiration  of its  original  term  unless
written  notification  is given by  Contran  or  Recipient  thirty  (30) days in
advance of the first day of each  successive  quarter or unless it is superseded
by a subsequent written agreement of the parties hereto.

     Section 6.  Limitation of Liability.  In providing its Services  hereunder,
Contran  shall  have a duty  to act,  and to  cause  its  agents  to  act,  in a
reasonably  prudent  manner,  but  neither  Contran nor any  officer,  director,
employee or agent of Contran or its affiliates  shall be liable to Recipient for
any error of judgment or mistake of law or for any loss incurred by Recipient in
connection  with the  matter  to which  this  Agreement  relates,  except a loss
resulting from willful misfeasance, bad faith or gross negligence on the part of
Contran.

     Section  7.  Indemnification  of  Contran  by  Recipient.  Recipient  shall
indemnify  and hold  harmless  Contran,  its  affiliates  and  their  respective
officers,  directors  and  employees  from  and  against  any  and  all  losses,
liabilities,  claims, damages, costs and expenses (including attorneys' fees and
other  expenses of  litigation)  to which  Contran or any such person may become
subject arising out of the Services provided by Contran to Recipient  hereunder,
provided that such indemnity  shall not protect any person against any liability
to  which  such  person  would   otherwise  be  subject  by  reason  of  willful
misfeasance, bad faith or gross negligence on the part of such person.

     Section 8. Confidentiality. Except as otherwise required by applicable law,
each of the parties agrees that it will maintain in confidence all  confidential
information  regarding  the  other  party  supplied  to it in the  course of the
performance of this Agreement.

     Section 9.  Further  Assurances.  Each of the parties  will make,  execute,
acknowledge and deliver such other instruments and documents,  and take all such
other actions,  as the other party may reasonably  request and as may reasonably
be required in order to effectuate  the purposes of this  Agreement and to carry
out the terms hereof.

     Section 10. Notices.  All communications  hereunder shall be in writing and
shall be addressed,  if intended for Contran,  to Three Lincoln Centre, 5430 LBJ
Freeway, Suite 1700, Dallas, Texas 75240,  Attention:  President,  or such other
address as it shall have furnished to Recipient in writing,  and if intended for
Recipient,  to Three Lincoln Centre, 5430 LBJ Freeway, Suite 1740, Dallas, Texas
75240, Attention:  Chairman of the Board, or such other address as it shall have
furnished to Contran in writing.

     Section 11. Amendment and Modification. Neither this Agreement nor any term
hereof may be changed, waived,  discharged or terminated other than by agreement
in writing signed by the parties hereto.

     Section 12. Successor and Assigns. This Agreement shall be binding upon and
inure to the benefit of Contran and  Recipient and their  respective  successors
and  assigns,  except  that  neither  party may  assign  its  rights  under this
Agreement without the prior written consent of the other party.

     Section  13.  Governing  Law.  This  Agreement  shall be  governed  by, and
construed and interpreted in accordance with, the laws of the state of Texas.

<PAGE>

     IN WITNESS  WHEREOF,  the parties  hereto have caused this  Agreement to be
duly executed and delivered as of the date first above written.

                               CONTRAN CORPORATION

                                   By:/s/Steven L. Watson
                                      ----------------------------------------
                                      Steven L. Watson
                                      President

                               KEYSTONE CONSOLIDATED INDUSTRIES, INC.

                                   By:/s/ Glenn R. Simmons
                                      ----------------------------------------
                                      Glenn R. Simmons
                                      Chairman of the BoardExhibit 10.1

 

SECOND AMENDMENT TO THIRD STANDSTILL AGREEMENT

 

This SECOND AMENDMENT TO THIRD STANDSTILL AND AMENDMENT AGREEMENT (this "Amendment"), dated as of April 10, 2003, is among SEITEL, INC. (the "Company"), a Delaware corporation, each of its subsidiaries (whether direct or indirect and whether or not wholly-owned, collectively, the "Subsidiaries"), and each of the Noteholders listed on the signature pages hereto.  Capitalized terms have the respective meanings ascribed thereto in the Third Standstill Agreement (as defined below).

 

W I T N E S S E T H:

 

WHEREAS, the Noteholders, the Company and the Subsidiary Guarantors are party to that certain Standstill and Amendment Agreement dated as of July 17, 2002, that certain Second Standstill and Amendment Agreement dated as of October 15, 2002, and that certain Third Standstill and Amendment Agreement dated as of December 2, 2002, as amended by that Amendment to Third Standstill Agreement dated as of February 28, 2003 (and together with various preceding standstill, forbearance and/or amendment letters and agreements between the Company and the Noteholders, collectively, the "Existing Third Standstill Agreement" and as amended by this Amendment and as may be further amended from time to time, the "Third Standstill Agreement") pursuant to which such Noteholders agreed to forbear until June 2, 2003 or earlier upon the occurrence of a Termination Event (as defined in the Existing Third Standstill Agreement) or delivery by the Noteholders of a Termination Notice from exercising rights and remedies they have pursuant to the Note Purchase Agreements as a result of the existence and occurrence of certain Events of Default and the Company agreed to comply with certain terms and conditions as more fully described therein; and

 

WHEREAS, a Termination Event (as defined in the Existing Third Standstill Agreement) will occur if the Company fails to complete and, as applicable, perform under, all documentation required to implement a financial restructuring by April 10, 2003 on terms and conditions satisfactory to the Noteholders (the "Documentation Termination Event"); and

 

WHEREAS, upon the occurrence of the Documentation Termination Event, the Noteholders will have the right to immediately exercise, without further notice, any one or more rights and remedies that they may have under any of the Note Purchase Agreements, any of the Notes or any of the other Financing Documents, under law and in equity; and

 

WHEREAS, the Company has requested that the Noteholders extend the deadline for completion and, as applicable, performance under, all documentation required to implement a financial restructuring of the Company and its Subsidiaries and continue to forbear from exercising their rights and remedies, subject to the terms of the Third Standstill Agreement, to allow the Company to implement such financial restructuring; and

 

WHEREAS, the Company, each Subsidiary and each Noteholder are desirous of entering into this Amendment on the terms and conditions hereinafter set forth.

 

NOW, THEREFORE, in consideration of the matters referred to above, the mutual covenants set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

	
AMENDMENTS.

Subject to the provisions of Section 5 hereof, the Existing Third Standstill Agreement is amended as follows:

 

	
New Definition.  Section 1 of the Existing Third Standstill Agreement is hereby amended by inserting the following new defined term in its alphabetical order:

 

"Second  Amendment to Third Standstill Agreement" means the Second Amendment to Third Standstill Agreement dated as of April 10, 2003 by and among the Company, the Subsidiaries and the Noteholders listed on the signature pages thereto."

 

	
Revised Definition.  Section 1 of the Existing Third Standstill Agreement is hereby amended by amending and restating subsection (ix) of the definition of "Termination Event" to read as follows:

 

"(ix)  the failure of the Company to complete and, as applicable, perform under, all documentation required to implement a financial restructuring by May 15, 2003 on terms and conditions satisfactory to the Noteholders."

 

	
Exhibit A1. Exhibit A1 of the Existing Third Standstill Agreement is hereby amended and restated in its entirety to conform to Exhibit A1 attached hereto.

 

	
REPRESENTATIONS AND WARRANTIES.

 

To induce the Noteholders to enter into this Amendment, the Company and the Subsidiaries, as applicable, represent and warrant, as of the Amendment Effective Date, as follows:

 

	
the Company is a corporation duly organized, validly existing and in good standing under the laws of the state of Delaware;

 

	
each of the Subsidiaries is an organization duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization;

 

	
the execution and delivery of this Amendment is within the corporate powers of the Company and each Subsidiary, has been duly authorized by the Company and each Subsidiary and constitutes a valid and binding obligation of the Company and each Subsidiary, enforceable in accordance with its terms, except that such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforceability of creditors' rights generally and except that such enforceability is subject to the availability of equitable remedies;

 

	
the execution and delivery of this Amendment does not conflict with, result in any breach of any of the provisions of, constitute a default under, or result in the creation of any Lien upon any property of the Company or any Subsidiary under the provisions of, any agreement, charter instrument, bylaw or other instrument to which the Company or any Subsidiary is a party or by which the Company, any Subsidiary, or any of their respective properties may be bound;

 

	
each of the Third Standstill Agreement, the Notes, the Note Purchase Agreements and the other Financing Documents to which the Company and each Subsidiary is a party, as each may have been amended prior to the date hereof, constitutes a valid and binding obligation of the Company and such Subsidiary party thereto, enforceable in accordance with its terms, except that such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforceability of creditors' rights generally and except that such enforceability is subject to the availability of equitable remedies;

 

	
except with respect to Existing Events of Default, there are, to the best present actual knowledge of the Company, no Defaults or Events of Default in existence on the Amendment Effective Date (although the Company continues its investigation and diligence into certain matters that may reveal the existence of additional Defaults or Events of Default); and

 

	
except as disclosed on Exhibit B to the Existing Third Standstill Agreement, neither the Company nor any Subsidiary has any Debt to any Person or group of Persons that is outstanding (including any drawn or undrawn facilities providing for the incurrence of Debt) in an aggregate principal amount with respect to such Person or group of Persons of more than $5,000,000.

 

	
AGREEMENTS OF THE COMPANY AND THE
SUBSIDIARIES.

 

	
Good Faith Negotiation of Documents.  The Company hereby covenants and agrees to negotiate all documents relating to the financial restructuring in good faith and to take actions consistent therewith as expeditiously as practicable.

 

	
Ratification by Company.  The Company hereby adopts again, ratifies and confirms in all respects, as its own act and deed, each of the Existing Third Standstill Agreement, the Note Purchase Agreements, the Notes and the other Financing Documents and any document or instrument delivered pursuant to or in connection with the Financing Documents and acknowledges (i) that all such instruments and documents shall continue in full force and effect and (ii) that as of the Amendment Effective Date, it has no claim or cause of action against any Noteholder (or any of its respective directors, officers, employees or agents) or any offset right, counterclaim or defense of any kind against any of its obligations, indebtedness or liabilities to any Noteholder.  The Company on its own behalf and on behalf of its shareholders, employees, successors and assigns hereby waives, releases and discharges the Noteholders and any of their predecessors and affiliates, and all directors, officers, employees, attorneys and agents of the Noteholders and of any of their predecessors and affiliates, from any and all claims, demands, actions or causes of action.

 

	
Ratification by Subsidiaries.  Each Subsidiary Guarantor hereby adopts again, ratifies and confirms, as its own act and deed, each of the Existing Third Standstill Agreement, its respective Subsidiary Guaranty and any document or instrument delivered pursuant to or in connection with such Subsidiary Guaranty and acknowledges that all such instruments and documents shall continue in full force and effect.  Each Subsidiary acknowledges that as of the Amendment Effective Date, it has no claim or cause of action against any Noteholder (or any of its respective directors, officers, employees or agents) or any offset right, counterclaim or defense of any kind against any of its obligations, indebtedness or liabilities to any Noteholder.  Each Subsidiary on its own behalf and on behalf of its shareholders, employees, successors and assigns hereby waives, releases and discharges the Noteholders and any of their predecessors and affiliates, and all directors, officers, employees, attorneys and agents of the Noteholders and of any of their predecessors and affiliates, from any and all claims, demands, actions or causes of action.

 

	
NONWAIVER AND NO AMENDMENT.

 

TIME IS OF THE ESSENCE WITH RESPECT TO ALL COVENANTS, CONDITIONS, AGREEMENTS, AND OTHER PROVISIONS HEREIN.  Except as otherwise expressly provided for in this Amendment, the terms of this Amendment shall not operate as a waiver by any of the Noteholders of, or otherwise prejudice, the Noteholders' rights, remedies or powers under the Existing Third Standstill Agreement, the Notes, the Note Purchase Agreements, the other Financing Documents, the Noteholder Consent or applicable law.  Except as expressly provided herein, no terms or provisions of the Existing Third Standstill Agreement are modified or changed by this Amendment, and all of the terms and provisions of the Existing Third Standstill Agreement shall continue in full force and effect.  The Company and each Subsidiary hereby acknowledges and reaffirms all of their respective obligations and duties under each of the Existing Third Standstill Agreement, the Note Purchase Agreements, the Notes and the other Financing Documents to which each is a party, as each such Financing Document may have been amended from time to time prior to the date hereof.

 

	
AMENDMENT EFFECTIVE DATE.

 

Each provision of this Amendment shall become effective on the first date (but in all respects shall be deemed to be nunc pro tunc to April 10, 2003, the "Amendment Effective Date") on which the Company and the Noteholders required by each Note Purchase Agreement to effect waivers and amendments thereunder respectively shall have executed and delivered this Amendment.

 

	
ACKNOWLEDGEMENT.

 

The Company and each Subsidiary acknowledges that the Noteholders shall continue to have the right to deliver a Termination Notice in the manner prescribed by Section 2(b) of the Third Standstill Agreement at any time for any reason or no reason, and after any such delivery any Noteholder shall be entitled to immediately exercise, without further notice, any one or more rights and remedies that it may have under any of the Note Purchase Agreements, any of the Notes or any of the other Financing Documents.

 

	
HEADINGS.

 

All headings and captions preceding the text of the several Sections of this Amendment are intended solely for the convenience of reference and shall not constitute a part of this Amendment nor shall they affect its meaning, construction or effect.

 

	
ENTIRE AGREEMENT.

 

This Amendment, the Third Standstill Agreement, the Note Purchase Agreement, the Notes and the other Financing Documents, as amended to the date hereof, embody the entire agreement and understanding between the Noteholders, the Company and the Subsidiaries and supersede all prior agreements and understandings relating to the subject matter hereof and thereof.

 

	
GOVERNING LAW.

 

This Amendment and the Third Standstill Agreement shall be governed by, and construed in accordance with, the internal laws of the State of New York.

 

	
DIRECTLY OR INDIRECTLY.

 

Where any provision in this Amendment refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person, including actions taken by or on behalf of any partnership or limited liability company in which such Person is a general partner or managing member, as applicable.

 

	
COUNTERPARTS.

  This Amendment may be executed by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.  An executed copy of this Amendment sent by facsimile shall be effective as an original.

   

   

   

[Remainder of page intentionally left blank.  Next page is signature page.]

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their authorized officers as of the date first written above.

 

SEITEL, INC.

By  /s/                                     

Name:

Title:

MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
By:David L. Babson & Company Inc., as Investment Adviser

By  /s/                                     

Name:

Title:

C.M. LIFE INSURANCE COMPANY
By:David L. Babson and Company Inc. as Investment Sub-Adviser

By  /s/                                     

Name:

Title:

MASSMUTUAL ASIA LIMITED
By:David L. Babson & Company Inc. as Investment Adviser

By  /s/                                     

Name:

Title:

SUNAMERICA LIFE INSURANCE COMPANY
By:AIG Global Investment Corp., Investment Adviser

By:_________________________

Name:

Title:

FIRST SUNAMERICA LIFE INSURANCE COMPANY

By:_________________________

Name:

Title:

J. ROMEO & CO. as NOMINEE for

MONY LIFE INSURANCE COMPANY

By  /s/                                     

Name:

Title:

J. ROMEO & CO. as NOMINEE for

MONY LIFE INSURANCE COMPANY OF AMERICA

By  /s/                                     

Name:

Title:

UNITED OF OMAHA LIFE INSURANCE COMPANY

By  /s/                                     

Name:

Title:

PAN-AMERICAN LIFE INSURANCE COMPANY

By:_________________________

Name:

Title:

PRINCIPAL LIFE INSURANCE COMPANY, ON BEHALF OF ONE OR MORE SEPARATE ACCOUNTS
By:Principal Global Investors, LLC, a Delaware limited liability company, its authorized signatory

By  /s/                                     

Name:

Title:

By  /s/                                     

Name:

Title:

CGU LIFE INSURANCE COMPANY OF AMERICA, a Delaware corporation (formerly known as Commercial Union Life Insurance Company of America)
By:Principal Global Investors, LLC, a Delaware limited liability company, its attorney in fact

By  /s/                                     

Name:

Title:

By  /s/                                     

Name:

Title:

WIND RIVER CORPORATION
By:Principal Global Investors, LLC, a Delaware limited liability company, its authorized signatory

By  /s/                                     

Name:

Title:

By  /s/                                     

Name:

Title:

ALLSTATE LIFE INSURANCE COMPANY

By  /s/                                     

Name:

Title:

By  /s/                                     

Name:

Title:

ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK

By  /s/                                     

Name:

Title:

By  /s/                                     

Name:

Title:

PROVIDENT LIFE AND ACCIDENT INSURANCE COMPANY

THE PAUL REVERE LIFE INSURANCE COMPANY

Severally By: Provident Investment
Management, LLC

                                                                                Their:  Agent

By  /s/                                     

Name:

Title:

PHOENIX LIFE INSURANCE COMPANY

 

By  /s/                                     

Name:

Title:

RELIASTAR LIFE INSURANCE COMPANY
By:ING Investment Management, LLC, as Agent

By  /s/                                     

Name:

Title:

NORTHERN LIFE INSURANCE COMPANY
By:ING Investment Management, LLC, as Agent

By  /s/                                     

Name:

Title:

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
By: ING Investment Management LLC, as Agent

By  /s/                                     

Name:

Title:

SECURITY CONNECTICUT LIFE INSURANCE COMPANY
By: ING Investment Management LLC, as Agent

By  /s/                                     

Name:

Title:

TRUSTMARK LIFE INSURANCE CO.

 

 

By  /s/                                     Name:

Title:

REPUBLIC WESTERN INSURANCE COMPANY

 

 

By:_________________________

Name:

Title:

OXFORD LIFE INSURANCE COMPANY

 

 

By:_________________________

Name:

Title:

UNITED LIFE INSURANCE COMPANY

 

 

By:_________________________

Name:

Title:

THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.

 

 

By  /s/                                     

Name:

Title:

FORT DEARBORN LIFE INSURANCE COMPANY
By:Guardian Investor Services

LLC

By  /s/                                     

Name:

Title:

THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA

 

 

By  /s/                                     

Name:

Title:

BERKSHIRE LIFE INSURANCE COMPANY OF AMERICA

 

 

By  /s/                                     

Name:

Title:

NATIONWIDE LIFE INSURANCE COMPANY

 

 

By  /s/                                     

Name:

Title:

NATIONWIDE LIFE AND ANNUITY INSURANCE COMPANY

 

 

By  /s/                                     

Name:

Title:

CONNECTICUT GENERAL LIFE INSURANCE COMPANY
By:CIGNA Investments, Inc. (authorized agent)

By  /s/                                     

Name:

Title:

LIFE INSURANCE COMPANY OF NORTH AMERICA
By:CIGNA Investments, Inc. (authorized agent)

By  /s/                                     

Name:

Title:

LONESTAR PARTNERS, L.P.

 

 

By  /s/                                     

Name:

Title:

COHANZICK HIGH YIELD PARTNERS, LP

 

 

By  /s/                                     

Name:

Title:

COHANZICK CREDIT OPPORTUNITIES FUND, LTD.

 

 

By  /s/                                     

Name:

Title

 

Accepted and Agreed:

SEITEL DATA CORP.

By  /s/                                     

Name:

Title:

 

SEITEL DATA, LTD.

By:Seitel Delaware, Inc., general partner

 

 

By  /s/                                     

Name:

Title:

 

N360X, L.L.C.

By:Seitel Management, Inc.,

managing member

 

 

By  /s/                                     

Name:

Title:

 

SEITEL MANAGEMENT, INC.

 

 

By  /s/                                     

Name:

Title:

 

 

818312 ALBERTA LTD

AFRICAN GEOPHYSICAL, INC.

ALTERNATIVE COMMUNICATIONS ENTERPRISES, INC.

DATATEL INC.

DDD ENERGY, INC.

EHI HOLDINGS, INC.

ENDEAVOR EXPLORATION, LLC

ENERGY VENTURES HOLDINGS, LLC

EXPRESS ENERGY I, LLC

EXSOL, INC.

GEO-BANK

MATRIX GEOPHYSICAL, INC.

OLYMPIC SEISMIC LTD.

SEIC HOLDINGS LTD.

SEIC, INC.

SEIC, L.L.C.

SEIC PARTNERS LIMITED PARTNERSHIP

SEIC TRUST ADMINISTRATION, LTD.

SEITEL CANADA HOLDINGS, INC.

SEITEL CANADA, L.L.C.

SEITEL DELAWARE, INC.

SEITEL GAS & ENERGY CORP.

SEITEL GEOPHYSICAL INC.

SEITEL INTERNATIONAL, CV

SEITEL INTERNATIONAL INC.

SEITEL IP HOLDINGS, L.L.C.

SEITEL NATURAL GAS INC.

SEITEL OFFSHORE CORP.

SEITEL POWER CORP.

SEITEL SOLUTIONS CANADA, LTD.

SEITEL SOLUTIONS HOLDINGS, LLC

SEITEL SOLUTIONS LTD.

SEITEL SOLUTIONS, INC.

SEITEL SOLUTIONS, L.L.C.

SI HOLDINGS, GP

VISION ENERGY, INC.

 

By  /s/                                     

Name:

Title:

 

EXHIBIT A1

EXISTING EVENTS OF DEFAULT

A.1995 Note Purchase Agreement

	The failure of the Company to comply with Section 10.1 for the period of four consecutive fiscal quarters ended on December 31, 2002.

 

	The failure of the Company to comply with Section 10.2 for the period of four consecutive fiscal quarters ended on each of March 31, 2002, June 30, 2002, September 30, 2002 and December 31, 2002.

 

	The failure of the Company to comply with Section 10.3(a) as of June 30, 2002 and September 30, 2002 without giving effect to the Original Standstill Agreement.

 

	The failure of the Company to comply with Section 10.7(a) by making Restricted Payments and/or Restricted Investments through June 30, 2002 and September 30, 2002 that exceeded the permissible amount under Section 10.7(a) without giving effect to the Original Standstill Agreement.

B.1999 Note Purchase Agreement

	The failure of the Company to comply with Section 10.1 as of June 30, 2002, September 30, 2002 and December 31, 2002 without giving effect to the Original Standstill Agreement.

 

	The failure of the Company to comply with Section 10.2 for the period of four consecutive fiscal quarters ended on each of March 31, 2002, June 30, 2002, September 30, 2002 and December 31, 2002. 

 

	The failure of the Company to comply with Section 10.3(a) as of June 30, 2002 and September 30, 2002 without giving effect to the Original Standstill Agreement.

 

	The failure of the Company to comply with Section 10.7(a) by making Restricted Payments and/or Restricted Investments through March 31, 2002, June 30, 2002 and September 30, 2002 that exceeded the permissible amount under Section 10.7(a) without giving effect to the Original Standstill Agreement.

C.2001 Note Purchase Agreement

	The failure of the Company to comply with Section 11.1 as of June 30, 2002, September 30, 2002 and December 31, 2002 without giving effect to the Original Standstill Agreement.

 

	The failure of the Company to comply with Section 11.2 for the period of four consecutive fiscal quarters ended on each of March 31, 2002, June 30, 2002, September 30, 2002 and December 31, 2002. 

 

	The failure of the Company to comply to Section 11.3(a) as of June 30, 2002 and September 30, 2002 without giving effect to the Original Standstill Agreement.

 

	The failure of the Company to comply with Section 11.7(a) by making Restricted Payments and/or Restricted Investments through June 30, 2002 and September 30, 2002 that exceeded the permissible amount under Section  11.7(a) without giving effect to the Original Standstill Agreement.

	Default under facility with Heller Financial Services Inc. in the principal amount of approximately $10,000,000.00.

 

	Default under guaranty to BankOne NA in the approximate amount of $540,000.00 of the obligations thereto of Paul Frame.

 

Note:  The covenant compliance for the 1995 Note Purchase Agreement, the 1999 Note Purchase Agreement and the 2001 Note Purchase Agreement have been calculated based on actual results as of and for the quarter ended September 30, 2002.  Such results have not been adjusted to exclude any amounts related to the marine seismic impairment or the oil & gas property impairments recorded by the Company in the quarter ended June 30, 2002.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00050-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00050-of-00352.parquet"}]]