Document:

exv10w6

 

EXHIBIT
10.6

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

     This
First Amendment to Employment Agreement, executed as of March 30, 2007 (this “First
Amendment”), is by and between W-H Energy Services, Inc., a Texas corporation, (“Company”), and
Stuart J. Ford (“Executive”).

     WHEREAS, Company and Executive are parties to that certain Employment Agreement effective as
of January 1, 2004 (the “Employment Agreement”); and

     WHEREAS, Company and Executive desire to extend the term of Executive’s employment and make
the other amendments to the Employment Agreement set forth herein.

     NOW, THEREFORE, for and in consideration of the mutual promises, covenants and obligations
contained herein, Company and Executive agree as follows:

ARTICLE 1: AMENDMENTS TO EMPLOYMENT AGREEMENT

     1.01 Amendment to Paragraph 3.1. Paragraph 3.1 of the Employment Agreement is hereby amended
and restated in its entirety to read as follows:

3.1 BASE SALARY. Commencing January 1, 2007, Executive shall receive a minimum
annual base salary of $260,000. Executive’s annual base salary shall be reviewed by
the Board of Directors (or a committee thereof) on an annual basis, and, in the sole
discretion of the Board of Directors (or such committee), such annual base salary
may be increased, but not decreased, effective as of January 1 of each year.
Executive’s annual base salary shall be paid in equal installments in accordance
with the Company’s standard policy regarding payment of compensation to executives
but no less frequently than monthly.

     1.02 Amendment to Paragraph 6.1. Clause (i)(B) of the definition of Termination Benefits in
Section 6.1 is hereby amended and restated to read in its entirety as follows:

(i) (B) the highest annual incentive compensation payment paid, or determined by the Board
(or the applicable committee thereof) and to be paid, to Executive by Company (pursuant to
paragraph 3.2 or otherwise) in respect of any of the three years immediately prior to the
date of the termination of Executive’s employment, and

     1.03 Amendment to Article 7. Article 7 of the Employment Agreement is hereby amended by
adding a new paragraph 7.13 to read as follows:

7.13 DEFINITIONS. When used herein, the term “Agreement” shall mean this
Employment Agreement effective as of January 1, 2004, as the same shall be amended
from time to time, including by that certain First Amendment to Employment
Agreement, executed as of March 30, 2007.

ARTICLE 2: MISCELLANEOUS

 

     2.01 Applicable Law. This First Amendment is entered into under, and shall be governed for
all purposes by, the laws of the State of Texas.

     2.02 Counterparts. This First Amendment may be executed in one or more counterparts, each of
which shall be deemed to be an original, but all of which together will constitute one and the same
agreement.

     2.03 Headings. The paragraph headings in this First Amendment have been inserted for purposes
of convenience and shall not be used for interpretive purposes.

     2.04 Gender and Plurals. Wherever the context so requires, as used in this First Amendment,
the masculine gender includes the feminine or neuter, and the singular number includes the plural
and conversely.

     2.05 Reaffirmation of Employment Agreement. Except as expressly amended hereby, the
Employment Agreement shall remain in full force and effect.

     2.06 Effectiveness. This First Amendment shall be and become binding on and enforceable
against Company and Executive as of the date of its execution first set forth above.

-2-

 

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of its date of
execution first set forth above.

	 	 	 	 	 
	 	 	W-H ENERGY SERVICES, INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Kenneth T. White, Jr.
	 

	 	 	 	 
	 

	 	 	 	Kenneth T. White, Jr.
	 

	 	 	 	Chairman, President and Chief Executive Officer

	 	 	 	 	 
	 

	 	 	 	/s/ Stuart J. Ford
	 

	 	 	 	 
	 

	 	 	 	Stuart J. Ford

-3-exv10w1

 

Exhibit 10.1

AMENDMENT C

To

COOPERATIVE RESEARCH AND DEVELOPMENT AGREEMENT

(hereinafter “CRADA”) No. ORNL00-0579

Development of an Economically Attractive Gas Centrifuge Machine and Enrichment Process

By and Between

UT-Battelle, LLC

Under its U. S. Department of Energy (DOE) Contract No. DE-AC05-00OR22725

(hereinafter “Contractor”)

And

USEC Inc. (hereinafter “Participant”)

This Amendment C to CRADA No. ORNL00-0579 by and between the Contractor and the Participant is made
effective on the latter date of approval by the DOE or the date of full execution of the Amendment
by and between the Contractor and Participant. The Contractor and the Participant being
hereinafter jointly referred to as the “Parties.”

WHEREAS, the Parties hereby desire to amend said CRADA original approved by DOE on June 30, 2000,
with an effective date of October 1, 2000, as amended on June 23, 2002 with an effective date of
July 12, 2002, and on September 10, 2002 with an effective date of September 11, 2002.

WHEREAS, the Parties hereby desire to amend said CRADA by revising and increasing the total
estimated funding of the CRADA and increase the funds-in contribution.

THEREFORE, the Parties hereto agree to be bound as follows:

A. ARTICLE III: TERM, FUNDING AND COST, paragraph B is deleted in its entirety and
substitute in lieu thereof the following paragraph B.

“B. The total value of this CRADA is $136,000,000. The Participant’s estimated contribution to
this effort is $136,000,000 (with $34,680,000 of that amount being total funds-in to ORNL).
The Government’s estimated contribution, which is provided through the Contractor’s contract
with DOE, is $0. Additional, the Participant’s funds-in contribution is usually subject to
Federal Administrative Charges in the amount of three (3) percent (3%). This charge for
Participant has been waived by authority of blanket pricing exception listed in a memo from
the DOE CFO dated October 25, 2002. The total authorized amount to be expended by the
Contractor cannot exceed $34,680,000 with is funds-in from the Participant.”

 

 

Amendment
C to CRADA No. ORNL00-0579

B. ARTICLE XXVII: NOTICES, paragraph B Contractor information is revised to read as
follows:

	 	 	 
	          Contractor:
	 	 
	          Frank V. Damiano

	 	Telephone:
	          Group Leader, Sponsored Research Programs

	 	(865) 576-2967
	          Technology Transfer & Economic Development
	 	 
	          UT-Battelle, LLC

	 	Facsimile No:
	          P. O. Box 2008, MS-6196

	 	(865) 241-6096
	          Oak Ridge, TN 37830-6196

	 	E-Mail
	           

	 	damianofv@ornl.gov

All other terms of the CRADA remain unchanged. This Amendment shall be effective on the later of
the dates of: (1) the signatures below or, (2) until approved by DOE.

IN WITNESS WHEREOF, the Parties have executed two originals of this Amendment through their duly
authorized representatives.

	 	 	 	 	 
	FOR CONTRACTOR:	 	 
	By: 

Name:

	 	/s/ Casey Porto
 
 Casey
Porto, Director	 	 
	
Title:

	 	
Technology Transfer	 	 
	Date:

	 	2-28-07	 	 
	           
	 	 	 	 
	FOR PARTICIPANT:	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ Robert S. Eby
 
 Robert
S. Eby
	 	/s/ John K. Welch

President and CEO
	Title:

	 	Director, ACEMP
	 	Approved Feb. 23, 2007

	Date:

	 	2-12-07	 	 

Page 2 of 2exv10w1

 

Exhibit 10.1

January 30, 2007

Jose Felipe

711 Seaview Drive.

Juno Beach, Florida 33408

Dear Jose:

This letter sets forth the agreement between NII Holdings, Inc. (“NII”) and you. It supersedes all
of the other agreements and understandings whether in writing or oral and is the basis for our
relationship going forward.

	 	 	 	 	 
	1.

	 	Title/Grade:
	 	EX2/President Mercosur

Operating as CEO of NII operations in
Argentina, Brazil 
and Chile and other
countries as assigned by NII 
President and
COO (“the countries”)
	 
	 	 	 	 
	2.

	 	Reporting To:
	 	NII President and COO
	 
	 	 	 	 
	3.

	 	Effective Date:
	 	January 1, 2007
	 
	 	 	 	 
	4.

	 	Location:
	 	Based in the US in locations mutually
agreeable to the 
NII President and COO and
the employee.
	 
	 	 	 	 
	5.

	 	Term of Assignment:
	 	Your employment with the Company will be of
indefinite duration, terminable at will by
either party, with or without cause. This
means that you may elect to terminate your
employment with the Company at any time, and
the Company retains the same rights. This
“employment at-will” paragraph operates
notwithstanding any other provision of this
letter, only the Chief Executive Officer or
the Chief Operating Officer have the
authority to enter any employment agreement
which alters the “at-will” relationship
provided for in this paragraph. If
either party terminates this Agreement,
except for COBRA benefits, all rights and
liabilities hereunder will cease. You and
the Company agree that the terms of your
employment will be governed by the laws of
the Commonwealth of Virginia, not by the laws
of any other state or foreign country.
	 
	 	 	 	 
	6.

	 	Base Salary:
	 	$367,697.04 per year, paid bi-monthly in the
United States and subject to U.S. taxes. You
will be eligible for a base pay increase in
2007 subject to approval by the Board of
Directors.

 

 

	 	 	 	 	 
	7.

	 	Hardship Allowance:
	 	A hardship allowance will be paid to
compensate you in your travels and time away
from home at foreign assignment locations.
NII will pay you a total of $27,000 per month
for your responsibilities and travel
hardship. The payments, which are subject to
US taxes, will be paid out of the US.
	 
	 	 	 	 
	8.

	 	Incentive Bonus:
	 	You will be eligible to receive an annual
bonus of 50% of your annual subject to the
terms and conditions of the Company bonus
plan. The annual bonus is normally paid
during the 1st quarter of the
following year. The Compensation Committee
of the Board of Directors has final approval
and authority with regard to terms and
conditions of the Plan.
	 
	 	 	 	 
	9.

	 	Tax Equalization:
	 	Section 9 of the employment agreement dated
February 5, 2004 will apply for the year
2006.
	 
	 	 	 	 
	10.

	 	Tax Counseling:
	 	To ensure that tax is paid as and when
required, the Company has retained
international tax consultants to assist in
the preparation and filing of US federal,
foreign and state (if applicable) income tax
returns. Only the consultants designated
may be used. This service will remain in
place until all outstanding tax issues are
resolved following your repatriation at the
end of 2006.
	 
	 	 	 	 
	11.

	 	Company Car:
	 	While you are traveling for business in your
assigned countries of responsibility, NII
will provide you with a company car and
driver commensurate with your position in the
countries.
	 
	 	 	 	 
	12.

	 	Air Transportation:
	 	NII will pay the cost of air transportation
(First Class) to and from the countries and
between the countries for you and your wife
during the assignment.
Any taxes due as a result of these payments
would be paid by NII.
	 
	 	 	 	 
	13.

	 	Vacation:
	 	You are entitled to five weeks vacation per
calendar year prorated for any partial years
of employment in accordance with NII’s
vacation policy.
	 
	 	 	 	 
	14.

	 	Holidays:
	 	You are entitled to 10 holidays per year.
	 
	 	 	 	 
	15.

	 	Insurance & Benefits:
	 	You will be eligible for the NII standard
insurance and 
benefit plan.

 

 

	 	 	 	 	 
	16.

	 	Expenses:
	 	All expenses that you incur on behalf of the
Company, which are directly related to your
work, will be reimbursed by NII based on the
reimbursement policy in place with properly
completed documentation and prior approvals.
The cost of lodging, meals and incidental
expenses for you and your wife would be
covered by NII during the travel to the
countries. NII would assume any taxes arising
from these payments. The gross-up for the
travel expenses for your wife will be
reviewed at the end of June 2007 and may be
changed at that time.
	 
	 	 	 	 
	17.

	 	Stock Options:
	 	Your stock options will continue to vest as
long as you are an employee of the company.
Periodically, the NII Board will award stock
options to key employees. If the board
awards options, you will be considered for a
stock option grant by the board commensurate
with your job responsibilities and
performance.
	 
	 	 	 	 
	18.

	 	Continuing Education:
	 	NII will directly pay or reimburse
you for the cost of any continuing education,
including necessary travel expenses, to
fulfill the requirement to maintain your US
CPA status.
	 
	 	 	 	 
	19.

	 	Termination of Employment:
	 	As a US based employee, should you experience
an involuntary separation of employment
through no fault of your own, you will be
eligible under the benefits provided by NII
Holding’s “Severance Benefits” policy.
Additionally, if you resign as a result of
any forced substantial change to duties and
responsibilities, or residence, this will be
considered termination for these purposes.

It is understood that in case of termination,
the Company would pay a minimum of one year
base salary and the bonus would be considered
earned in full in the year of termination
with no pro-rations. This clause would
supersede NII’s Severance Benefits policy
unless such policy is more beneficial to you.
In addition, in the event of termination,
the Company agrees to provide for medical
insurance for a period of one year from
termination.
	 
	 	 	 	 
	20.

	 	Financial Responsibilities:
	 	Except as specifically provided in this
Agreement, you will be responsible for all
financial obligations incurred by you during
the term of this assignment.
	 
	 	 	 	 
	21.

	 	Non-Competition and Confidentiality
	 	You have an existing Non-Competition and
Confidentiality Agreement on file, which you signed on March 30, 2006 and remains in
effect.

 

 

This Agreement supersedes any and all prior written or oral agreements or understandings concerning
such subject matter.

If you have any questions or require additional information, please do not hesitate to contact me
at (703) 390-5154. Please sign below where indicated and return two signed copies to me to
evidence your agreement as to the above terms. A copy is for your records.

	 	 	 
	 

	 	Sincerely,
	 
	 	 
	 

	 	/s/ Dayna Parker
	 

	 	 
	 

	 	Dayna Parker
	 

	 	Vice President, Human Resources
	 

	 	NII Holdings, Inc.

I have read and understand the terms and conditions contained in this Agreement and hereby accept
and agree to them as partial conditions of my employment with NII Holdings, Inc.

	 	 	 
	 

	 	/s/ Jose Felipe
	 

	 	 
	 

	 	Jose Felipe

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