Document:

<PAGE>   1
                                                                   EXHIBIT 10.14

              Amendment to Employment and Stock Ownership Agreement

This Amendment to the Employment and Stock Ownership Agreement, by and between
Energy Partners, Ltd. and Wayne A. Greenwalt, is dated March 4, 1999.

WHEREAS, the parties hereto executed the Employment and Stock Ownership
Agreement, dated June 5, 1998 (the "Agreement"); and

WHEREAS, it is in the best interests of the parties to amend said "Agreement" as
set forth hereinbelow.

NOW, THEREFORE, in consideration for the mutual promises and covenants so set
forth, the parties agree as follows:

1.                The first sentence of Paragraph 2.15 shall be amended to read
as follows:

                  Notwithstanding anything herein to the contrary, in the event
                  Employee does not become a full-time employee of the Company
                  on or before December 31, 1999, Richard A. Bachmann shall
                  purchase and the Employee shall sell the Shares to Richard A.
                  Bachmann at a price equal to the consideration paid by the
                  Employee for the Shares.

IN WITNESS WHEREOF, the parties hereto have set forth their hand and seal on the
day, month and year first above written in multiple originals, each of which
shall have the same force and effect as if it were the sole original.

<TABLE>
<S>                                      <C>
WITNESSES:                               ENERGY PARTNERS, LTD.

                                         By:
---------------------------                  ----------------------------------
                                             Richard A. Bachmann

---------------------------

---------------------------              WAYNE A. GREENWALT

                                         By:
---------------------------                  ----------------------------------

---------------------------              Acknowledged and agreed to the terms
                                         hereof:

---------------------------              --------------------------------------
                                         Spouse
</TABLE><PAGE>   1
                                                                   EXHIBIT 10.15

FIRST AMENDMENT TO
EMPLOYMENT AND
STOCK OWNERSHIP AGREEMENT
                                                        UNITED STATES OF AMERICA
BY AND BETWEEN
                                                        STATE OF LOUISIANA
ENERGY PARTNERS, LTD.
                                                        PARISH OF ORLEANS
AND

                  THIS FIRST AMENDMENT TO EMPLOYMENT AND STOCK AGREEMENT (this
"Agreement"), is entered into in New Orleans, Louisiana on this 17th day of
November, 1999, by and between        , an individual of the full age of
majority domiciled in the Parish of Orleans, State of Louisiana (hereinafter
called "Employee") and Energy Partners, Ltd., a corporation organized and
existing under the laws of the State of Delaware (hereinafter called "Company"),
represented herein by its duly authorized President, Richard A. Bachmann.

                  WHEREAS, Employee and the Company entered into that certain
Employment and Stock Ownership Agreement dated June 5, 1998 (the "Employment
Agreement");

                  WHEREAS, concurrent with the execution hereof, Employee is
entering into a Stockholder Agreement dated November 17, 1999, by and among the
Company, Employee and the other shareholders of the Company named therein (the
"Stockholder Agreement");

                  NOW, THEREFORE, the parties agree as follows:

                  1. The first sentence of Section 1.1 of the Employment
Agreement is deleted in its entirety and replaced with the following:

<PAGE>   2

                                      -2-

              "In consideration for the compensation set forth in Subparagraph
              1.2, Employee shall be employed as [title] until November 17,
              2003 (the "Term").

                  2. Section 2.2 of the Employment Agreement is deleted in its
entirety and replaced with the following:

              "2.2          Transfer of Shares. No Shares may be sold,
                            assigned, pledged, transferred or otherwise
                            alienated (each, "Transferred") except in
                            accordance with and pursuant to the terms and
                            conditions of this Agreement and that certain
                            Stockholder Agreement dated November 17, 1999, by
                            and between the Company, Employee, and others
                            identified therein (the "Stockholder Agreement").
                            Additionally, except as otherwise provided in the
                            Stockholder Agreement, as a condition precedent to
                            any Transfer, the transferee must validly execute
                            the Stockholder Agreement. The Shares may be
                            pledged as provided in the Stockholder Agreement,
                            provided that any lender's recourse for liquidation
                            on debt repayment shall be limited to selling the
                            pledged Shares under the same terms and conditions
                            as though it was an Employee. The Lender shall
                            agree to the foregoing provisions as terms of the
                            pledge."

                  3. In Section 2.5 of the Employment Agreement, the words "as
amended" are inserted after "1998".

                  4. The following is inserted before the period that ends
Section 2.7:

              "; provided, however, if the Employee Resigns and the Company has
              previously terminated the employment of Richard A. Bachmann, the
              number of Shares which may be acquired as set forth in Section
              2.12 shall be equal to the following percentage of the

<PAGE>   3
                                      -3-

              number of Shares stated in Section 2.1 depending on the date the
              Employee Resigns:

<TABLE>
<CAPTION>

                   Percentage                             Date of
                   of Shares                           Resignation
                   ---------                           -----------
<S>                                               <C>
                   100%                           On or before November 17, 2000
                   75%                            After November 17, 2000 and on
                                                  or before November 17, 2001
                   50%                            After November 17, 2001 and on
                                                  or before November 17, 2002
                   25%                            After November 17, 2002 and on
                                                  or before June 5, 2003
                   0%                             After June 5, 2003
</TABLE>

                  5. Section 2.12 is deleted in its entirety and replaced with
the following:

              "As more fully described in Section 2.2 of the Stockholder
              Agreement, any right or option to purchase any shares pursuant to
              this Agreement shall first be exercisable by Richard A. Bachmann,
              or his designee, who shall first have the option to purchase all
              of the Shares under the applicable terms and conditions. So long
              as the Stockholder Agreement is in effect, the Evercore Entities
              (as defined in the Stockholder Agreement) shall have the option
              to purchase or redeem the Shares if not purchased by Richard
              A. Bachmann under the same applicable terms and conditions. The
              other Management Shareholders (as defined in the Stockholder
              Agreement) shall have the option to purchase all of the Shares not
              purchased by Richard

<PAGE>   4
                                      -4-

              A. Bachmann or the Evercore Entities under the same applicable
              terms and conditions."

                  6. Sections 2.13, 2.14 and 2.15 of the Employment Agreement
are deleted in their entirety.

                  7. Section 3.1 of the Employment Agreement is deleted in its
entirety and replaced with the following:

              "3.1          Entire Agreement. The parties to this Agreement
                            acknowledge that they have concurrently executed the
                            Stockholder Agreement. In any circumstance where
                            there is a conflict between the provisions of the
                            Stockholder Agreement and this Agreement, the
                            provisions of the Stockholder Agreement shall
                            prevail, but only so long as the Stockholder
                            Agreement is in force and effect. Capitalized terms
                            not defined herein shall have the meaning set forth
                            in the Stockholder Agreement. Without limiting the
                            generality of the foregoing, this Agreement and the
                            Stockholder Agreement embody the entire agreement
                            between the parties hereto regarding to the subject
                            matter hereof, and shall supersede any and all prior
                            agreements whether written or oral relating to
                            employment and/or Shares of the Company owned by
                            Employee, and shall be binding upon Employee and
                            Employee's heirs, legatees, legal representatives,
                            successors, donees, transferees and assigns, and
                            Employee does hereby authorize and obligate
                            Employee's executors, heirs and legatees to comply
                            with the terms of this Agreement. The parties shall
                            not be bound by or be liable for any statement,
                            representation, promise, inducement or understanding
                            of any kind or nature regarding the subject matter
                            hereof which is not set forth herein. No changes,
                            amendments or modifications of any of the terms or
                            conditions of this document

<PAGE>   5
                                       -5-

                            shall be valid unless reduced to writing and signed
                            by all parties hereto, the Company being represented
                            by its President or his designee."

                  8. Section 3.7 of the Employment Agreement is deleted in its
entirety and replaced with the following:

              "3.7          Termination. The terms and conditions of Sections
                            1.0 to 1.4 of this Agreement shall terminate on
                            November 17, 2003."
<PAGE>   6

                                      -6-

                  IN WITNESS WHEREOF, the parties hereto have set forth their
hand and seal on the day, month and year first above written in multiple
originals, each of which shall have the same force and effect as if it were the
same original.

WITNESSES:                                      ENERGY PARTNERS, LTD.

                                                By:
------------------------------                     -----------------------------
Name:                                              Name:  Richard Bachmann
                                                   Title: President and Chief
                                                              Executive Officer
------------------------------
Name:

WITNESSES:

                                                By:
------------------------------                     -----------------------------
Name:                                               Name:

------------------------------
Name:

WITNESSES:                                      ACKNOWLEDGED AND AGREED
                                                TO THE TERMS HEREOF:

                                                By:
------------------------------                     -----------------------------
Name:                                               Spouse

------------------------------
Name:

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