Document:

Exhibit 10.9 Form of Indemnification Agreement

                       CENTENNIAL FIRST FINANCIAL SERVICES

                            INDEMNIFICATION AGREEMENT

         This Indemnification Agreement ("Agreement") is made and entered into
as of the ____ day of ____________, ____ by and between Centennial First
Financial Services, a California corporation ("Company"), and _________________,
(the "Indemnitee"), a DIRECTOR(AND/OR OFFICER) of Company.

                                    RECITALS

     A. Company and the Indemnitee recognize that statutes, regulations, court
opinions and Company's Articles of Incorporation and Bylaws are indefinite in
providing Company's directors and officers with adequate protection from
liabilities to which they may become personally exposed as a result of
performing their duties in good faith for Company;

     B. Company and the Indemnitee are aware of the large number of lawsuits
filed against corporate directors and officers;

     C. Company and the Indemnitee recognize that the cost of defending against
such lawsuits may be beyond the financial resources of most directors and
officers of Company;

     D. Company and the Indemnitee recognize that the potential risks and
liabilities of being a director and/or officer pose a significant deterrent and
increased reluctance on the part of experienced and capable individuals to serve
as a DIRECTOR AND/OR OFFICER of Company;

     E. Company has investigated the availability and sufficiency of liability
insurance for its directors and officers with adequate protection against
potential liabilities and has determined that such insurance provides inadequate
protection to its directors and officers, and, thus, it would be in the best
interests of Company and its shareholders to contract with the Indemnitee, to
indemnify HIM/HER to the fullest extent permitted by law against personal
liability for actions taken in the good faith performance of HIS/HER duties to
Company;

     F. Section 317 of the California Corporations Code ("Section 317") sets
forth certain provisions relating to the mandatory and permissive
indemnification of directors and officers (among others) of a California
corporation by such corporation;

     G. As inducement and encouragement for experienced and capable persons such
as the Indemnitee to continue to serve as a DIRECTOR AND/OR OFFICER of Company,
the Board of Directors of Company has determined, after due consideration and
investigation, that this Agreement is a reasonable and prudent means to promote
and ensure the best interests of Company and its shareholders; and

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<PAGE>

     H. Company desires to have the Indemnitee continue to serve as a DIRECTOR
OR OFFICER of Company free from undue concern for unpredictable, inappropriate
or unreasonable legal risks and personal liabilities by reason of HIS/HER acting
in good faith in the performance of HIS/HER duty to Company; and the Indemnitee
desires to continue to serve as a DIRECTOR OR OFFICER of Company; provided, and
on the express condition, that the Indemnitee is furnished with the indemnity
set forth hereinafter.
                                    AGREEMENT

     NOW, THEREFORE, in consideration of the mutual covenants and agreements set
forth below and based on the premises set forth above, Company and the
Indemnitee do hereby agree as follows:

     1. AGREEMENT TO SERVE. The Indemnitee will serve or continue to serve as a
DIRECTOR OR OFFICER of Company to the best of HIS/HER abilities at the will of
Company for so long as the Indemnitee is duly elected or appointed or until such
time as the Indemnitee tenders HIS/HER resignation in writing.

     2. DEFINITIONS. As used in this Agreement:

     (a) The term "Proceeding" shall include any threatened, pending or
completed action, suit or proceeding, whether brought in the right of Company or
otherwise and whether of a civil, criminal, administrative or investigative
nature, including, but not limited to, actions, suits or proceedings brought
under and/or predicated upon the Securities Act of 1933, as amended, and/or the
Securities Exchange Act of 1934, as amended, and/or their respective state
counterparts, and/or any rule or regulation promulgated thereunder, in which the
Indemnitee may be or may have been involved as a party or otherwise, by reason
of the fact that the Indemnitee is or was a DIRECTOR OR OFFICER of Company, by
reason of any action taken by HIM/HER or of any inaction on HIS/HER part while
acting as such DIRECTOR OR OFFICER or by reason of the fact that HE/SHE is or
was serving at the request of Company as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other enterprise,
whether or not HE/SHE is serving in such capacity at the time any liability or
expense is incurred for which indemnification or reimbursement can be provided
under this Agreement.

     (b) The term "Expenses" includes, without limitation thereto, expenses of
investigations, of judicial or administrative proceedings or appeals, attorneys'
fees and disbursements and any expenses of establishing a right to
indemnification under Paragraph 7 of this Agreement, but shall not include the
amount of judgments, settlements, fines or penalties actually levied against the
Indemnitee.

     3. INDEMNITY IN THIRD PARTY PROCEEDINGS. Company shall indemnify the
Indemnitee in accordance with the provisions of this section if the Indemnitee
is a party to or threatened to be made a party to or otherwise involved in any
Proceeding (other than a Proceeding by or in the right of Company to procure a
judgment in its favor), by reason of the fact that the Indemnitee is or was a
director, officer, employee or agent of Company or is or was serving at the
request of Company as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust or

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<PAGE>

other enterprise, against all Expenses, judgments, fines, settlements and other
amounts actually and reasonably incurred by the Indemnitee in connection with
such Proceeding, provided it is determined pursuant to Paragraph 7 of this
Agreement or by the court before which such action was brought or by the
shareholders of Company in the manner prescribed by Section 317, that the
Indemnitee acted in good faith and in a manner which HE/SHE reasonably believed
to be in the best interests of Company and, in the case of a criminal
proceeding, in addition, had no reasonable cause to believe that HIS/HER conduct
was unlawful. The termination of any such Proceeding by judgment, order of
court, settlement, conviction, or upon a plea of nolo contendere, or its
equivalent, shall not, of itself, create a presumption that the Indemnitee did
not act in good faith and in a manner which HE/SHE reasonably believed to be in
the best interests of Company, and with respect to any criminal proceeding, that
such person had reasonable cause to believe that HIS/HER conduct was unlawful.

     4. INDEMNITY IN PROCEEDINGS BY OR IN THE RIGHT OF COMPANY. Company shall
indemnify the Indemnitee in accordance with the provisions of this section if
the Indemnitee is a party to or threatened to be made a party to or otherwise
involved in any Proceeding by or in the right of Company to procure a judgment
in its favor by reason of the fact that the Indemnitee is or was a director,
officer, employee or agent of Company or is or was serving at the request of
Company as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise against all Expenses
actually and reasonably incurred by the Indemnitee in connection with the
defense or settlement of such Proceeding, provided it is determined pursuant to
Paragraph 7 of this Agreement or by the court before which such action was
brought or by the shareholders of Company in the manner prescribed by Section
317, that the Indemnitee acted in good faith and in a manner which HE/SHE
believed to be in the best interests of Company and its shareholders.
Notwithstanding the foregoing, no indemnification shall be made under this
Paragraph 4:

          (a) in respect of any claim, issue or matter as to which the
     Indemnitee shall have been adjudged to be liable to Company, unless and
     only to the extent that the court in which such Proceeding is or was
     pending shall determine upon application that, in view of all the
     circumstances of the case, the Indemnitee is fairly and reasonably entitled
     to indemnity for such Expenses as such court shall determine;

          (b) of amounts paid in settling or otherwise disposing of a pending
     action without court approval;

          (c) of Expenses incurred in defending a pending action which is
     settled or otherwise disposed of without court approval; or

          (d) in respect of any act, omission or transaction set forth in
     Section 204(a)(10)(A)(i)-(vii) of the California Corporations Code.

     5. INDEMNIFICATION OF EXPENSES OF SUCCESSFUL PARTY. Notwithstanding any
other provision of this Agreement, to the extent that the Indemnitee has been
successful on the merits in defense of any Proceeding or in defense of any
claim, issue or matter therein, the Indemnitee shall be indemnified against all
Expenses actually and reasonably incurred in connection therewith.

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<PAGE>

     6. ADVANCES OF EXPENSES. The Expenses incurred by the Indemnitee pursuant
to Paragraphs 3 and 4 in defending any Proceeding shall be paid by Company in
advance of the final disposition of such Proceeding at the written request of
the Indemnitee, if the Indemnitee shall provide an undertaking in the form
attached hereto as Exhibit "A" to Company to repay such amount unless it is
ultimately determined that the Indemnitee is entitled to the payment of
Expenses. The written request to Company shall include a description of the
nature of the Proceeding and be accompanied by copies of any documents filed
with a court relating to the Proceeding.

     Notwithstanding the foregoing or any other provision of this Agreement, no
advance shall be made by Company if a determination is reasonably and promptly
made by the Board of Directors by a majority vote of a quorum of disinterested
directors, or (if such a quorum is not obtainable or, even if obtainable, a
quorum of disinterested directors so directs) by independent legal counsel,
that, based upon the facts known to the Board of Directors or counsel at the
time such determination is made, (a) the Indemnitee acted in bad faith or
deliberately breached HIS/HER duty to Company or its shareholders, and (b) as a
result of such actions by the Indemnitee, it is more likely than not that it
will ultimately be determined that the Indemnitee is not entitled to
indemnification under the terms of this Agreement.

     7. RIGHTS OF THE INDEMNITEE TO INDEMNIFICATION UPON APPLICATION; PROCEDURE
UPON APPLICATION. To the extent a quorum of the Board of Directors of Company
consisting of directors who were or are not parties to a Proceeding is
obtainable, the Board of Directors shall determine within 45 days after receipt
of the written request of the Indemnitee for indemnification whether the
Indemnitee has met the relevant standards for indemnification set forth in
Paragraphs 3 and 4 and, if it determines that such standards have been met, it
shall provide indemnification to the Indemnitee.

         Notwithstanding the foregoing, the Indemnitee may request independent
counsel or may bring suit in the court in which such Proceeding is or was
pending to determine whether the Indemnitee is entitled to indemnification as
provided by this Agreement. The Indemnitee's expenses incurred in connection
with successfully establishing HIS/HER right to indemnification, in whole or in
part, shall also be indemnified by Company.

     8. PARTIAL INDEMNIFICATION. If the Indemnitee is entitled under any
provision of this Agreement to indemnification by Company for some or a portion
of the Expenses, judgments, fines, settlements or other amounts actually and
reasonably incurred by HIM/HER in the investigation, defense, appeal or
settlement of any Proceeding but not, however, for the total amount thereof,
Company shall nevertheless indemnify the Indemnitee for the portion of such
Expenses, judgments, fines, settlements or other amounts to which the Indemnitee
is entitled.

     9. DIRECTORS' AND OFFICERS' LIABILITY INSURANCE. The obtaining of
directors' and officers' liability insurance ("D&O Coverage") at the expense of
and by Company shall in no way limit or diminish the obligation of Company to
indemnify the Indemnitee as provided in this Agreement; provided, however, that
any amounts actually recovered by the Indemnitee from the insurer providing D&O
Coverage shall be applied in reduction of amounts otherwise owing by Company by
reason of its indemnification under this Agreement and if Company pays any
amounts to the Indemnitee pursuant to this Agreement, Company shall be
subrogated to the Indemnitee's

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<PAGE>

rights and claims against the insurer providing D&O Coverage and the Indemnitee
shall execute such documents as Company shall deem necessary to reflect such
subrogation.

     10. SETTLEMENT OF CLAIMS.

          (a) If Company has not obtained D&O Coverage, the Indemnitee shall not
settle any Proceeding for which HE/SHE intends to seek indemnification hereunder
without first attempting to obtain the approval of Company. If the Indemnitee
seeks such approval and such approval is not granted by Company, the Indemnitee
shall be free to settle the Proceeding and pursue any procedures to establish
HIS/HER right to indemnification as provided under this Agreement. If the
Indemnitee seeks such approval and such approval is not granted by Company, but
Company agrees to indemnify the Indemnitee, subject to Paragraph 4 herein,
against any Expenses, judgments, fines, settlements or other amounts actually
and reasonably incurred by the Indemnitee in connection with such Proceeding,
the Indemnitee shall not settle such Proceeding. If, however, under such
circumstances the Indemnitee does settle such Proceeding, the Indemnitee shall
forfeit HIS/HER rights to indemnification under this Agreement.

          (b) If Company has obtained D&O Coverage, the Indemnitee shall not
settle any Proceeding for which HE/SHE intends to seek indemnification without
first attempting to obtain any approval required with respect to such settlement
by the insurance carrier of any applicable D&O Coverage. If the Indemnitee seeks
such approval and such approval is not granted by the insurance carrier of any
applicable D&O Coverage, the Indemnitee shall not settle such Proceeding without
then attempting to obtain the approval of Company. In the event the Indemnitee
seeks such approval from Company, Company and the Indemnitee shall have the same
rights and obligations as set forth in Paragraph 10(a). If the Indemnitee seeks
such approval from Company and such approval is granted, Company shall be
subrogated to the Indemnitee's rights and claims against the insurance carrier
of any applicable D&O Coverage and the Indemnitee shall execute such documents
as Company shall deem necessary to effect such subrogation.

     11. MUTUAL ACKNOWLEDGMENT. Both Company and the Indemnitee acknowledge that
in certain instances, Federal law or applicable public policy may prohibit
Company from indemnifying the Indemnitee under this Agreement or otherwise.

     12. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon Company
and its successors and assigns and shall inure to the benefit of the Indemnitee
and the Indemnitee's spouse, heirs, executors and administrators.

     13. SAVINGS CLAUSE. If this Agreement or any portion thereof be invalidated
on any ground by any court of competent jurisdiction, then Company shall
nevertheless indemnify the Indemnitee as to Expenses, judgments, fines,
settlements or other amounts with respect to any Proceeding to the fullest
extent permitted by any applicable portion of this Agreement that shall not have
been invalidated or by any other applicable law.

     14. GOVERNING LAW. This Agreement shall be governed by and construed in
accordance with the laws of the State of California.

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<PAGE>

     15. NOTICES. The Indemnitee shall, as a condition precedent to HIS/HER
right to be indemnified under this Agreement, give to Company notice in writing
as soon as practicable of any claim made against HIM/HER for which
indemnification will or could be sought under this Agreement. Notice to Company
shall be directed to Centennial First Financial Services, 218 East State Street,
Redlands, California 92373, Attention: Douglas Spencer, President (or such other
address as Company shall designate in writing to the Indemnitee).

     16. MODIFICATION AND AMENDMENT. No amendment, modification, termination or
cancellation of this Agreement, except as permitted pursuant to Section 12
above, shall be effected unless in writing signed by both parties hereto.

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
and year set forth above.

INDEMNITEE                                  CENTENNIAL FIRST FINANCIAL SERVICES

By___________________________         By: ______________________________________

                                    Its:  ______________________________________

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<PAGE>

                                    EXHIBIT A

                       CENTENNIAL FIRST FINANCIAL SERVICES

                                   UNDERTAKING

TO:      Centennial First Financial Services
         218 East State Street
         Redlands, California 92373

         Attention: Douglas Spencer

     I, ______________, a DIRECTOR OR OFFICER of Centennial First Financial
Services, a California corporation, pursuant to Section 317(f) of the California
Corporations Code and the terms of my Indemnification Agreement with Centennial
First Financial Services agree to repay Centennial First Financial Services for
all Expenses advanced on my behalf in defense of any Proceeding or in defense of
any claim, issue or matter therein, prior to the disposition of such Proceeding,
unless it shall be ultimately determined that I am entitled to indemnification
under Section 317 of the California Corporations Code or Centennial First
Financial Services's Articles of Incorporation, Bylaws or my Indemnification
Agreement.

Dated:  ________________

                                                 INDEMNITEE

                                                 By___________________________Prepared by MERRILL CORPORATION www.edgaradvantage.com

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FIRST SUPPLEMENTAL INDENTURE    
  

    THIS FIRST SUPPLEMENTAL INDENTURE (this "Supplemental Indenture"), dated as of June 15, 2000, among
Great Lakes Caribbean Dredging, Inc., a Delaware corporation (the "Guaranteeing Subsidiary"), a subsidiary of Great Lakes Dredge & Dock Corporation (or
its permitted successor), a Delaware corporation (the "Company"), the Company, the other Subsidiary Guarantors (as defined in the Indenture referred to
herein) and The Bank of New York, as trustee under the indenture referred to below (the "Trustee"). 

 
 

WITNESSETH    
  

    WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (the "Indenture"), dated
as of August 19, 1998 providing for the issuance of an aggregate principal amount of up to $165,000,000 of 111/4% Senior Subordinated Notes due 2008 (the
"Notes"); 

    WHEREAS,
the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which the
Guaranteeing Subsidiary shall unconditionally guarantee all of the Company's Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the
"Subsidiary Guarantee"); and 

    WHEREAS,
pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture. 

    NOW
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the
Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

    1.  Capitalized Terms.  Capitalized terms used herein without definition shall have the meanings assigned
to them in the Indenture. 

    2.  Agreement to Guarantee.  The Guaranteeing Subsidiary hereby agrees as follows: 

	(a)
	Along
with all Subsidiary Guarantors named in the Indenture, to jointly and severally Guarantee to each Holder of a Note authenticated and delivered by the Trustee and to the
Trustee and its successors and assigns, the Notes or the obligations of the Company hereunder or thereunder, that: 

     (i) the
principal of and interest on the Notes will be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on
the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Company to the Holders or the Trustee hereunder or thereunder will be promptly paid in full or
performed, all in accordance with the terms hereof and thereof; and 

    (ii) in
case of any extension of time or payment or renewal of any Notes or any of such other obligations, that same will be promptly paid in full when due or performed
in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of any amount so guaranteed or any performance so
guaranteed for whatever reason, the Subsidiary Guarantors shall be jointly and severally obligated to pay the same immediately. 

	(b)
	The
obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Notes or the Indenture, the absence of any action to enforce the
same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce the same or 

2

 

any
other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. 

	(c)
	The
following is hereby waived; diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to
require a proceeding first against the Company, protest, notice and all demands whatsoever.

	(d)
	This
Subsidiary Guarantee shall not be discharged except by complete performance of the obligations contained in the Notes and the Indenture, and the Guaranteeing Subsidiary accepts
all obligations of a Subsidiary Guarantor under the Indenture.

	(e)
	If
any Holder or the Trustee is required by any court or otherwise to return to the Company, the Subsidiary Guarantors, or any Custodian, Trustee, liquidator or other similar
official acting in relation to either the Company or the Subsidiary Guarantors, any amount paid by either to the Trustee or such Holder, this Subsidiary Guarantee, to the extent theretofore
discharged, shall be reinstated in full force and effect.

	(f)
	The
Guaranteeing Subsidiary shall not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of
all obligations guaranteed hereby.

	(g)
	As
between the Subsidiary Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be accelerated
as provided in Article 6 of the Indenture for the purposes of this Subsidiary Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the
obligations guaranteed hereby, and (y) in the event of any declaration of acceleration of such obligations as provided in Article 6 of the Indenture, such obligations (whether or not due and
payable) shall forthwith become due and payable by the Subsidiary Guarantors for the purpose of this Subsidiary Guarantee.

	(h)
	The
Subsidiary Guarantors shall have the right to seek contribution from any nonpaying Subsidiary Guarantor so long as the exercise of such right does not impair the rights of the
Holders under the Guarantee.

	(i)
	Pursuant
to Section 11.02 of the Indenture, after giving effect to any maximum amount and any other contingent and fixed liabilities that are relevant under any applicable
Bankruptcy or fraudulent conveyance laws, and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other Subsidiary Guarantor in
respect of the obligations of such other Subsidiary Guarantor under Article 11 of the Indenture, this new Subsidiary Guarantee shall be limited to the maximum amount permissible such that the
obligations of such Subsidiary Guarantor under this Subsidiary Guarantee will not constitute a fraudulent transfer or conveyance. 

    3.  Execution And Delivery.  Each Guaranteeing Subsidiary agrees that the Subsidiary Guarantees shall
remain in full force and effect notwithstanding any failure to endorse on each Note a notation of such Subsidiary Guarantee. 

    4.  Guaranteeing Subsidiary May Consolidate, Etc. On Certain Terms.  

	(a)
	The
Guaranteeing Subsidiary may not consolidate with or merge with or into (whether or not such Subsidiary Guarantor is the surviving Person) another corporation, Person or entity
whether or not affiliated with such Subsidiary Guarantor unless; 

     (i) subject
to Sections 11.05 and 11.06 of the Indenture, the Person formed by or surviving any such consolidation or merger (if other than a Subsidiary
Guarantor or the Company) unconditionally assumes all the obligations of such Subsidiary Guarantor, pursuant 

3

 

to a supplemental indenture in form and substance reasonably satisfactory to the Trustee, under the Notes, the Indenture and the Subsidiary Guarantee on the terms set forth herein or therein; and 

    (ii) immediately
after giving effect to such transaction, no Default or Event of Default exists. 

	(b)
	In
case of any such consolidation, merger, sale or conveyance and upon the assumption by the successor corporation, by supplemental indenture, executed and delivered to the Trustee
and satisfactory in form to the Trustee, of the Subsidiary Guarantee endorsed upon the Notes and the due and punctual performance of all of the covenants and conditions of the Indenture to be
performed by the Subsidiary Guarantor, such successor corporation shall succeed to and be substituted for the Subsidiary Guarantor with the same effect as if it had been named herein as a Subsidiary
Guarantor. Such successor corporation thereupon may cause to be signed any or all of the Subsidiary Guarantees to be endorsed upon all of the Notes issuable hereunder which theretofore shall not have
been signed by the Company and delivered to the Trustee. All the Subsidiary Guarantees so issued shall in all respects have the same legal rank and benefit under the Indenture as the Subsidiary
Guarantees theretofore and thereafter issued in accordance with the terms of the Indenture as though all of such Subsidiary Guarantees had been issued at the date of the execution hereof.

	(c)
	Except
as set forth in Articles 4 and 5 and Section 11.05 of Article 11 of the Indenture, and notwithstanding clauses (a) and (b) above, nothing contained in
the Indenture or in any of the Notes shall prevent any consolidation or merger of a Subsidiary Guarantor with or into the Company or another Subsidiary Guarantor, or shall prevent any sale or
conveyance of the property of a Subsidiary Guarantor as an entirety or substantially as an entirety to the Company or another Subsidiary Guarantor. 

    5.  Releases  

	(a)
	In
the event of a sale or other disposition of all of the assets of any Subsidiary Guarantor, by way of merger, consolidation or otherwise, or a sale or other disposition of all to
the capital stock of any Subsidiary Guarantor, in each case to a Person that is not (either before or after giving effect to such transaction) a Restricted Subsidiary of the Company, then such
Subsidiary Guarantor (in the event of a sale or other disposition, by way of merger, consolidation or otherwise, of all of the capital stock of such Subsidiary Guaranter) or the corporation acquiring
the property (in the event of a sale or other disposition of all or substantially all of the assets of such Subsidiary Guarantor) will be released and relieved of any obligations under its Subsidiary
Guarantee; provided that the Net Proceeds of such sale or other disposition are applied in accordance with the applicable provisions of the Indenture,
including without limitation Section 4.10 of the Indenture. Upon delivery by the Company to the Trustee of an Officers' Certificate and an Opinion of Counsel to the effect that such sale or
other disposition was made by the Company in accordance with the provisions of the Indenture, including without limitation Section 4.10 of the Indenture, the Trustee shall execute any documents
reasonably required in order to evidence the release of any Subsidiary Guarantor from its obligations under its Subsidiary Guarantee.

	(b)
	Any
Subsidiary Guarantor not released from its obligations under its Subsidiary Guarantee shall remain liable for the full amount of principal of and interest on the Notes and for
the other obligations of any Subsidiary Guarantor under the Indenture as provided in Article 11 of the Indenture. 

    6.  No Recourse Against Others  No past, present or future director, officer, employee, incorporator,
stockholder or agent of the Guaranteeing Subsidiary, as such, shall have any liability for 

4

 

any obligations of the Company or any Guaranteeing Subsidiary under the Notes, any Subsidiary Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by
reason of, such obligations or their creation. Each Holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of
the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such a waiver is against public policy. 

    7.  NEW YORK LAW TO GOVERN.  THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO
CONSTRUE THIS SUPPLEMENTAL INDENTURE BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED
THEREBY. 

    8.  Counterparts.  The parties may sign any number of copies of this Supplemental Indenture. Each signed
copy shall be an original, but all of them together represent the same agreement. 

    9.  Effect Of Headings.  The Section headings herein are for convenience only and shall not affect the
construction hereof. 

    10.  The Trustee.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the
validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary and the Company. 

    IN
WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written. 

	 	 	GREAT LAKES CARIBBEAN DREDGING, INC.
	

 	
 	

By:	
 	

/s/ DEBORAH A. WENSEL   

	 	 	Name:	 	Deborah A. Wensel

	 	 	Title:	 	Vice President and CFO

	

 	
 	
GREAT LAKES DREDGE & DOCK CORPORATION
	

 	
 	

By:	
 	

/s/ DEBORAH A. WENSEL   

	 	 	Name:	 	Deborah A. Wensel

	 	 	Title:	 	Vice President and CFO

	

 	
 	
GREAT LAKES DREDGE & DOCK COMPANY
	

 	
 	

By:	
 	

/s/ DEBORAH A. WENSEL   

	 	 	Name:	 	Deborah A. Wensel

	 	 	Title:	 	Vice President and CFO

5

 

	

 	
 	
DAWSON DREDGING COMPANY
	

 	
 	

By:	
 	

/s/ DEBORAH A. WENSEL   

	 	 	Name:	 	Deborah A. Wensel

	 	 	Title:	 	Vice President and CFO

	

 	
 	
FIFTY-THREE DREDGING CORPORATION
	

 	
 	

By:	
 	

/s/ LESLIE A. BRAUN   
Leslie A. Braun

	 	 	Title:	 	President

	

 	
 	
THE BANK OF NEW YORK, AS TRUSTEE
	

 	
 	

By:	
 	

/s/ MARY LAGUMINA   

	 	 	Name:	 	Mary LaGumina

	 	 	Title:	 	Vice President

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FIRST SUPPLEMENTAL INDENTURE

WITNESSETH

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