Document:

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                                                                    EXHIBIT 10.8

                              AMENDED AND RESTATED
                              EMPLOYMENT AGREEMENT

         This Amended and Restated Employment Agreement (the "Agreement") is
made this 1st day of January, 2002, between Cal Dive International, Inc., a
Minnesota corporation, ("Company") and A. Wade Pursell ("Employee"), an
individual residing at 8614 Lanell, Houston, Texas 77055.

         WHEREAS, Employee has extensive executive management skills and
experience in the oil service industry, including valuable marketing, financial,
technical and other experience, knowledge and ability and has been acting as
Senior Vice President and Chief Financial Officer for the Company; and

         WHEREAS, the Company wishes to continue to employ Employee as Senior
Vice President and Chief Financial Officer of the Company and Employee is
willing to accept such continued employment upon the terms and conditions set
forth in this Agreement;

         NOW, THEREFORE, in consideration of the premises and mutual covenants
and agreements set forth herein, the parties hereto agree as follows:

SECTION 1.   TERM OF EMPLOYMENT AND EMPLOYMENT DUTIES.

         (a) Employee agrees to be employed by the Company on the terms and
conditions contained herein, for a period commencing on the date hereof until
February 28, 2004 and thereafter terminating one year after delivery to Employee
of a written notice of termination by the Company (the "Employment Term");
provided, however, that the occurrence of any event described in Sections 7(a),
7(b) or 7(c) prior to the end of the Employment Term shall result in the
immediate termination of Employee's employment and the Employment Term, subject
to the terms of such applicable Section. Employee shall devote his time, energy
and skill to the affairs of the Company and any of its affiliated business
entities and to the promotion of their interests. Any provision of this
Agreement to the contrary notwithstanding, Employee shall immediately resign
from any offices held with the Company or its Affiliates upon written request by
the Company. Any resignation made pursuant to a written request by the Company
under this Section shall not affect Employee's rights under this Agreement for
any compensation, benefits or payments.

         (b) Employee's duties shall include all the normal duties associated
with acting as Senior Vice President and Chief Financial officer of the Company
and all other responsibilities assigned to that office from time to time by the
Chairman , President and the Board of Directors.

         (c) During the Employment Term, (i) Employee services shall be rendered
on a full time basis, (ii) Employee shall have no other employment and no
substantial outside business activities and (iii) the headquarters for the
performance of Employee's services shall be the principal executive or operating
offices of the Company, subject to travel for such reasonable lengths of time as
the performance of his duties in the business of the Company may require.

SECTION 2.   COMPENSATION.

         (a) Salary. During the Employment Term, as compensation for his
services and covenants and agreements hereunder and subject to such changes
therein as the Board may make from time to time, the Company agrees to pay
Employee an initial salary for the period from the date hereof to February 28,
2004 at the rate of One Hundred Fifty Thousand Six Hundred Dollars ($150,000),
payable in equal semi-monthly installments in accordance with the Company's
regular payroll practices for its principal executives, prorated for any partial
employment and subject to normal increases as approved by the Board.

         (b) Incentive Bonus. During the Employment Term, in addition to the to
the annual salary payable to Employee pursuant to paragraph (a) above, Employee
shall be entitled to an annual incentive bonus (the "Incentive Bonus"), payable
not later than three months after the close of each fiscal year of the Company,
commencing with the fiscal year ending December 31, 2002, as established
annually or from time to time by the Board .

         (c) Reimbursement of Expenses. During the Employment Term, Employee
will be reimbursed by the Company for his reasonable business expenses incurred
in connection with the performance of his duties hereunder,

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including, without limitation, a home fax line, car mileage, cell phone and
business calls and other expenses consistent with Company policy from time to
time.

SECTION 3.   BENEFITS.

         During the Employment Term, Employee shall be entitled to participate
in any medical/dental, life insurance, accidental death, long term disability
insurance plan and 401(k) or other insurance and retirement plans which has been
or which may be adopted by the Company (as long as such plan is not
discontinued) for the general and overall benefit of executive employees of the
Company, according to the participation or eligibility requirements of each such
plan. During the Employment Term, Employee shall enjoy such vacation, holiday
and similar rights and privileges as are enjoyed generally by the Company's
principal executives.

SECTION 4.   NONDISCLOSURE AND NONUSE OF CONFIDENTIAL INFORMATION

         (a) During the period commencing with the date of this Agreement and
ending on (i) the fifth anniversary of the date of the termination of Employee's
employment with the Company if such termination arises as a result of voluntary
termination or retirement by Employee or termination by the Company for "Cause"
(as defined in Section 7 (a) hereof) and (ii) the date which is 18 months
following the date of termination of Employee's employment with the Company if
such termination arises for any reason other than as provided in subparagraph 4
(a) (i) above, Employee covenants and agrees with the Company that Employee
shall not disclose or use any Confidential Information (as defined below) of
which Employee is or becomes aware, whether or not such information is developed
by him, except to the extent that such disclosure or use is directly related to
and required by Employee's performance of duties assigned to Employee by the
Company. Employee shall take all appropriate steps to safeguard Confidential
Information and to protect it against disclosure, misuse, espionage, loss and
theft.

         (b) As used in this Agreement, the term "Confidential Information"
means information that is not generally known to the public and that is or has
been used, developed or obtained, either prior to or following the date of this
Agreement, by the Company in connection with its businesses, including but not
limited to (i) products or services, (ii) fees, costs and pricing structures,
(iii) designs, (iv) analysis, (v) drawings, photographs and reports, (vi)
computer software, including operating systems, applications and program
listings, (vii) flow charts, manuals and documentation, (viii) data bases, (ix)
accounting and business methods, (x) inventions, devices, new developments,
methods and processes, whether patentable or unpatentable and whether or not
reduced to practice, (xi) customers and clients and customer or client lists,
(xii) other copyrightable works, (xiii) all technology and trade secrets, and
(xiv) all similar and related information in whatever form. Confidential
Information shall not include any information that has been published in a form
generally available to the public prior to the date Employee proposes to
disclose or use such information other than as a result of disclosure by
Employee in violation of this Agreement. Information shall not be deemed to have
been published merely because individual portions of the information have been
separately published, but only if all material features comprising such
information have been published in combination.

SECTION 5.   NON-COMPETITION AND NON-SOLICITATION.

         (a) Employee acknowledges and agrees with the Company that his services
to the Company are unique in nature and that the Company would be irreparably
damaged if Employee were to provide similar services to any person or entity
competing with the Company or engaged in a similar business. Employee
accordingly covenants and agrees with the Company that during the period
commencing with the date of this Agreement and ending on the later to occur of:

                   (i) February 28, 2007 and (ii) (A) the second anniversary of
         the date of the termination of Employee's employment with the Company
         if such termination arises as a result of voluntary termination or
         retirement by Employee or termination by the Company for "Cause", or
         (B) the first anniversary of the date of termination of Employee's
         employment with the Company if such termination arises for any reason
         other than as provided in the preceding subparagraph 5(a) (ii) (A).

Employee shall not, directly or indirectly, either for himself or for any other
individual, corporation, partnership, joint venture of other entity, participate
in any business (including without limitation any division, group or franchise
of a larger organization) which engages or which proposes to engage in the
business of providing diving services in the Gulf

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of Mexico or any other business actively engaged in by the Company on the date
of termination of Employee's employment in the area or areas where the Company
is conducting such business; provided that until such time as the Company waives
in writing any rights it may have to enforce the terms of this Section 5 (the
"Waiver), during the period commencing on the date of the termination of
Employee's employment with the Company and ending on the date on which either
the noncompetition provisions contained in this Section 5 terminate or the
Waiver is delivered to Employee, whichever is earlier, the Company will pay to
Employee either the amounts due under Section 7(d), if appropriate, or an amount
equal to Employee's base salary as of the date his employment was terminated
(which will be paid over time in accordance with the salary payment schedule in
effect from time to time for senior executives of the Company) and during such
time period Employee shall be entitled to all insurance benefits received by
other senior executives of the Company. For purposes of this Agreement, the term
"participate in" shall include without limitation having any direct or indirect
interest in any corporation, partnership, joint venture or other entity, whether
as a sole proprietor, owner, stockholder, partner, joint venturer, creditor or
otherwise, or rendering any direct or indirect service or assistance to any
individual, corporation, partnership, joint venture and other business entity
(whether as a director, officer, manager, supervisor, employee, agent,
consultant or otherwise) but not ownership of 2% or less of the capital stock of
a public company.

         (b) Employee covenants and agrees with the Company that during the
period commencing with the date of this Agreement and ending on the later to
occur of (i) February 28, 2007 and (ii) (A) the second anniversary of the date
of termination of Employee's employment with the Company if such termination
arises as a result of voluntary termination by the Company or for "Cause", or
(B) the date which is 18 months following the termination of Employee's
employment with the Company if such termination arises for any reason other than
as provided in the preceding subparagraph 5(b) (ii) (A) above, Employee shall
not, directly or indirectly, for himself or for any other individual,
corporation, partnership, joint venture or other entity, (x) make any offer of
employment, solicit or hire any supervisor, employee of the Company or its
affiliates or induce or attempt to induce any employee of the Company or its
affiliates to leave their employ or in any way interfere with the relationship
between the Company or its affiliates and any of their employees or (y) induce
or attempt to induce any supplier, licensee, licensor, franchisee, or other
business relation of the Company or its affiliates to cease doing business with
them or in any way interfere with the relationship between the Company or its
affiliates and any customer or business relation.

SECTION 6.   COMPANY'S OWNERSHIP OF INTELLECTUAL PROPERTY.

         (a) In the event that Employee as part of his activities on behalf of
the Company generates, authors or contributes to any invention, design, new
development, device, product, method or process (whether or not patentable or
reduced to practice or comprising Confidential Information), any copyrightable
work (whether or not comprising Confidential Information) or any other form of
Confidential Information relating directly or indirectly to the Company's
business as prior hereto, now or hereinafter conducted (collectively,
"Intellectual Property"), Employee acknowledges that such Intellectual Property
is the exclusive property of the Company and hereby assigns all right, title and
interest in and to such Intellectual Property to the Company. Any copyrightable
work prepared in whole or in part by Employee shall be deemed "a work made for
hire" under Section 201(b) of the 1976 Copyright Act, and the Company shall own
all of the rights comprised in the copyright therein. Employee shall promptly
and fully disclose all Intellectual Property to the Company and shall cooperate
with the Company to protect the Company's interest in and rights to such
Intellectual Property, including without limitation providing reasonable
assistance in securing patent protection and copyright registrations and
executing all documents as reasonably requested by the Company, whether such
requests occur prior to or after termination of Employee's employment with the
Company.

         (b) As requested by the Company from time to time and upon the
termination of Employee's employment with the Company for any reason, Employee
shall promptly deliver to the Company all copies and embodiments, in whatever
form, of all Confidential Information or Intellectual Property in Employee's
possession or within his control (including, but not limited to, written
records, notes, photographs, manuals, notebooks, documentation, program
listings, flow charts, magnetic media, disks, diskettes, tapes and all other
materials containing any Confidential Information or Intellectual Property)
irrespective of the location or form of such material and, if requested by the
Company, shall provide the Company with written confirmation that all such
materials have been delivered to the Company.

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SECTION 7.   TERMINATION OF AGREEMENT.

         (a) Termination for "Cause". This Agreement may be terminated by the
Company at any time during the Employment Term for "Cause", in which event
Employee shall have no further rights under this Agreement (but the Company's
rights shall survive as herein otherwise provided including, without limitation,
under Sections 4, 5 and 6 hereof). For purposes of the preceding sentence,
"Cause" shall mean: (i) any breach or threatened breach by Employee of any of
his agreements contained in Section 4, 5 or 6 hereof; (ii) repeated or willful
neglect by Employee in performing any duty or carrying out any responsibility
assigned or delegated to him pursuant to Section 1(b) hereof, which neglect
shall not have permanently ceased within ten (10) business days after written
notice to Employee thereof; or (iii) the commission by Employee of any criminal
act involving moral turpitude or a felony which results in an arrest or
indictment, or the commission by Employee, based on reasonable proof, of any act
of fraud or embezzlement involving the Company or its customers or suppliers. In
the event that the Company elects to terminate this Agreement for Cause, it will
give Employee written notice of such termination, and, at the Company's
discretion, Employee's employment will terminate sixty (60) days thereafter.

         (b) Termination Upon Death. This Agreement shall terminate
automatically upon the death of Employee during the Employment Term. In such
event, the Company shall be obligated to pay to Employee's estate, or to such
person or persons as he may designate in writing to the Company, (i) through the
last day of the fiscal year in which Employee's death shall have occurred, the
salary (payable in the same manner as described in Section 2(a) hereof) to which
Employee would have been entitled under Section 2(a) hereof had such death not
occurred, and (ii) as soon as reasonably practicable after Employee's death, any
accrued but, as of the date of such death, unpaid Incentive Bonus (or, if such
death shall have occurred after the first three (3) months of the Company's
fiscal year, any prorated portion thereof).

         (c) Termination Upon Disability. This Agreement may be terminated by
the Company at any time during the Employment Term in the event that Employee
shall have been unable, because of "Disability" (as hereinafter defined), to
perform his principal duties for the Company for a cumulative period of six (6)
months within any eighteen (18) month period. Prior to Employee's termination
for Disability as provided herein, he shall remain eligible to receive the
compensation and benefits set forth in Section 2 and Section 3 hereof. Upon such
termination, Employee shall be entitled to receive as soon as reasonably
practicable thereafter, any accrued, but as of the date of such termination,
unpaid Incentive Bonus (or, if such termination shall have occurred after the
first three (3) months of the Company's fiscal year, any prorated portion
thereof). For purposes of this Section 7(c), "Disability" shall mean any
physical or mental condition of Employee which shall substantially impair his
ability to perform his principal duties hereunder. In the event that the Company
elects to terminate this Agreement by reason of Disability under this Section
7(c), it will give written notice of such termination, and, at the Company's
discretion, Employee's employment will terminate sixty (60) days thereafter.

         (d) "Termination by the Company Without Cause After Change in Control."
If the Company terminates this Agreement for any reason other than pursuant to
the terms of Sections 7(a), 7(b), or 7(c), and such termination occurs within
two years of the occurrence of a Change in Control and a Material Change in
Senior Management (as defined in (e) 1 below), then, in addition to any amounts
otherwise due under this Agreement, the Company shall: (1) pay to Employee an
amount equal to 2 times the salary plus bonus paid to Employee for his last
complete year of employment, (2) continue Employee's participation in the
Company's medical, dental, accidental death, and life insurance plans, as
provided in Section 3 of this Agreement, for two years, subject to COBRA
required benefits thereafter, and (3) cause Employee to be fully vested in any
stock options or stock grants held by Employee. The Company shall make the
payment due in one lump sum within 10 days of the effective date of termination.

         A "CHANGE IN CONTROL"shall be deemed to have occurred at any time after
the date of this Agreement that any person (including those persons who own more
than 10% of the combined voting power of the Company's outstanding voting
securities on the date hereof) becomes the beneficial owner, directly or
indirectly, of 45% or more of the combined voting power of the Company's then
outstanding voting securities.

         (e) "Termination by Employee With Good Cause After Change in Control."
If Employee terminates this Agreement for Good Cause (defined below) and such
termination occurs within two years of the occurrence of a Change in Control,
then, in addition to any amounts otherwise due under this Agreement, the Company
shall: (1) pay to Employee an amount equal to 2 times the salary plus bonus paid
to Employee for his last complete year of employment, (2) continue Employee's
participation in the Company's medical, dental, accidental death, and life
insurance plans, as provided in Section 3 of this Agreement, for two years,
subject to COBRA required benefits thereafter, and (3) cause

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Employee to be fully vested in any stock options or stock grants held by
Employee. The Company shall make the payment due in one lump sum within 10 days
of the effective date of termination.

         "GOOD CAUSE" shall mean the occurrence of both of the following events:

         1.   a "Material Change in Senior Management" (which shall mean either
              one or all of the CEO, CFO and COO cease their employment with the
              Company); and

         2.   in addition, any of the following events occur:

                  (i) the assignment by the Company to Employee of duties that
         are materially inconsistent with Employee's office with the Company at
         the time of such assignment, or the removal by the Company from
         Employee of a material portion of those duties usually appertaining to
         Employee's office with the Company at the time of such removal;

                  (ii) a material change by the Company, without Employee's
         prior written consent, in Employee's responsibilities to the Company,
         as such responsibilities are ordinarily and customarily required from
         time to time of a senior officer of a corporation engaged in the
         Company's business;

                  (iii) any removal of Employee from, or any failure to reelect
         or to reappoint Employee to, the office stated in Section 1(b);

                  (iv) The Company's direction that Employee discontinue service
         (or not seek reelection or reappointment) as a director, officer or
         member of any corporation or association of which Employee is a
         director, officer, or member at the date of this Agreement;

                  (v) a reduction by the Company in the amount of Employee's
         salary in effect at the time of the occurrence of a Change in Control
         or the failure of the Company to pay such salary to Employee at the
         time and in the manner specified in this Agreement;

                  (vi) the discontinuance (without comparable replacement) or
         material reduction by the Company of Employee's participation in any
         bonus or other employee benefit arrangement (including, without
         limitation, any profit-sharing, thrift, life insurance, medical,
         dental, hospitalization, stock option or retirement plan or
         arrangement) in which Employee is a participant under the terms of this
         Agreement, as in effect on the date hereof or as may be improved from
         time to time hereafter;

                  (vii) the moving by the Company of Employee's principal office
         space, related facilities, or support personnel, from the Company's
         principal operating offices, or the Company's requiring Employee to
         perform a majority of his duties outside the Company's principal
         operating offices for a period of more than 30 consecutive days;

                  (viii) the relocation, without Employee's prior written
         consent, of the Company's principal Employee offices to a location
         outside the county in which such offices are located at the time of the
         signing of this Agreement;

                  (ix) in the event the Company requires Employee to reside at a
         location more than 25 miles from the Company's principal Employee
         offices, except for occasional travel in connection with the Company
         business to an extent and in a manner which is substantially consistent
         with Employee's current business travel obligations;

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                  (x) in the event Employee consents to a relocation of the
         Company's principal Employee offices, the failure of the Company to (A)
         pay or reimburse Employee on an after-tax basis for all reasonable
         moving expenses incurred by Employee in connection with such relocation
         or (B) indemnify Employee on an after-tax basis against any loss
         realized by Employee on the sale his principal residence in connection
         with such relocation;

                  (xi) the failure of the Company to continue to provide
         Employee with office space, related facilities and support personnel
         (including, without limitation, administrative and secretarial
         assistance) that are commensurate with Employee's responsibilities to
         and position with the Company, and no less than those prior to this
         Agreement;

                  (xii) any significant change in Employee's reporting
         relationships or changes in senior management of the Company

                  (xiii) the failure by the Company to promptly reimburse
         Employee for the reasonable business expenses incurred by Employee in
         the performance of his duties for the Company, in accordance with this
         Agreement.

         (f) Gross-Up Payments - Certain Additional Payments by the Company.

                  (i) Anything in this Agreement to the contrary
         notwithstanding, in the event it shall be determined that any payment
         or distribution by the Company or any of its affiliates (as that term
         is defined in the regulations promulgated under the Securities Exchange
         Act of 1934, as amended) under this Agreement to or for the benefit of
         Employee (any such payments or distributions being individually
         referred to herein as a "PAYMENT," and any two or more of such payments
         or distributions being referred to herein as "PAYMENTS"), would be
         subject to the excise tax imposed by Section 4999 of the Code (such
         excise tax, together with any interest thereon, any penalties,
         additions to tax, or additional amounts with respect to such excise
         tax, and any interest in respect of such penalties, additions to tax or
         additional amounts, being collectively referred herein to as the
         "EXCISE TAX"), then Employee shall be entitled to receive an additional
         payment or payments (individually referred to herein as a "GROSS-UP
         PAYMENT" and any two or more of such additional payments being referred
         to herein as "GROSS-UP Payments") in an amount such that after payment
         by Employee of all taxes (as defined in Section 7(f)(xi) imposed upon
         the Gross-Up Payment, Employee retains an amount of such Gross-Up
         Payment equal to the Excise Tax imposed upon the Payments.

                  (ii) Subject to the provisions of Section 7(f)(iii) through
         7(f)(ix), any determination (individually, a "DETERMINATION") required
         to be made under this Section 7(f)(ii), including whether a Gross-Up
         Payment is required and the amount of such Gross-Up Payment, shall
         initially be made, at the Company's expense, by nationally recognized
         tax counsel mutually acceptable to the Company and Employee ("TAX
         COUNSEL"). Tax Counsel shall provide detailed supporting legal
         authorities, calculations, and documentation both to the Company and
         Employee within 15 business days of the termination of Employee's
         employment, if applicable, or such other time or times as is reasonably
         requested by the Company or Employee. If Tax Counsel makes the initial
         Determination that no Excise Tax is payable by Employee with respect to
         a Payment or Payments, it shall furnish Employee with an opinion
         reasonably acceptable to Employee that no Excise Tax will be imposed
         with respect to any such Payment or Payments. Employee shall have the
         right to dispute any Determination (a "DISPUTE") within 15 business
         days after delivery of Tax Counsel's opinion with respect to such
         Determination. The Gross-Up Payment, if any, as determined pursuant to
         such Determination shall, at the Company's expense, be paid by the
         Company to Employee within five business days of Employee's receipt of
         such Determination. The existence of a Dispute shall not in any way
         affect Employee's right to receive the Gross-Up Payment in accordance
         with such Determination. If there is no Dispute, such Determination
         shall be binding, final and conclusive upon the Company and Employee,
         subject in all respects, however, to the provisions of Section
         7(f)(iii) through 7(f)(ix) below. As a result of the uncertainty in the
         application of Sections 4999 and 280G of the Code, it is possible that
         Gross-Up Payments (or portions thereof) which will

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         not have been made by the Company should have been made
         ("UNDERPAYMENT"), and if upon any reasonable written request from
         Employee or the Company to Tax Counsel, or upon Tax Counsel's own
         initiative, Tax Counsel, at the Company's expense, thereafter
         determines that Employee is required to make a payment of any Excise
         Tax or any additional Excise Tax, as the case may be, Tax Counsel
         shall, at the Company's expense, determine the amount of the
         Underpayment that has occurred and any such Underpayment shall be
         promptly paid by the Company to Employee.

                  (iii) the Company shall defend, hold harmless, and indemnify
         Employee on a fully grossed-up after tax basis from and against any and
         all claims, losses, liabilities, obligations, damages, impositions,
         assessments, demands, judgements, settlements, costs and expenses
         (including reasonable attorneys', accountants', and experts' fees and
         expenses) with respect to any tax liability of Employee resulting from
         any Final Determination (as defined in Section 7(f)(x) that any Payment
         is subject to the Excise Tax.

                  (iv) If a party hereto receives any written or oral
         communication with respect to any question, adjustment, assessment or
         pending or threatened audit, examination, investigation or
         administrative, court or other proceeding which, if pursued
         successfully, could result in or give rise to a claim by Employee
         against the Company under this Section 7(f) ("CLAIM"), including, but
         not limited to, a claim for indemnification of Employee by the Company
         under Section 7(f)(iii), then such party shall promptly notify the
         other party hereto in writing of such Claim ("TAX CLAIM NOTICE").

                  (v) If a Claim is asserted against Employee ("EMPLOYEE
         CLAIM"), Employee shall take or cause to be taken such action in
         connection with contesting such Employee Claim as the Company shall
         reasonably request in writing from time to time, including the
         retention of counsel and experts as are reasonably designated by the
         Company (it being understood and agreed by the parties hereto that the
         terms of any such retention shall expressly provide that the Company
         shall be solely responsible for the payment of any and all fees and
         disbursements of such counsel and any experts) and the execution of
         powers of attorney, provided that:

                           (1) within 30 calendar days after the Company
                  receives or delivers, as the case may be, the Tax Claim Notice
                  relating to such Employee Claim (or such earlier date that any
                  payment of the taxes claimed is due from Employee, but in no
                  event sooner than five calendar days after the Company
                  receives or delivers such Tax Claim Notice), the Company shall
                  have notified Employee in writing ("ELECTION NOTICE") that the
                  Company does not dispute its obligations (including, but not
                  limited to, its indemnity obligations) under this Agreement
                  and that the Company elects to contest, and to control the
                  defense or prosecution of, such Employee Claim at the
                  Company's sole risk and sole cost and expense; and

                           (2) the Company shall have advanced to Employee on an
                  interest-free basis, the total amount of the tax claimed in
                  order for Employee, at the Company's request, to pay or cause
                  to be paid the tax claimed, file a claim for refund of such
                  tax and, subject to the provisions of the last sentence of
                  Section 7(f)(vii), sue for a refund of such tax if such claim
                  for refund is disallowed by the appropriate taxing authority
                  (it being understood and agreed by the parties hereto that the
                  Company shall only be entitled to sue for a refund and the
                  Company shall not be entitled to initiate any proceeding in,
                  for example, United States Tax Court) and shall indemnify and
                  hold Employee harmless, on a fully grossed-up after tax basis,
                  from any tax imposed with respect to such advance or with
                  respect to any imputed income with respect to such advance;
                  and

                           (3) the Company shall reimburse Employee for any and
                  all costs and expenses resulting from any such request by the
                  Company and shall indemnify and hold Employee harmless, on
                  fully grossed-up after-tax basis, from any tax imposed as a
                  result of such reimbursement.

                  (vi) Subject to the provisions of Section 7(f)(v) hereof, the
         Company shall have the right to defend or prosecute, at the sole cost,
         expense and risk of the Company, such Employee Claim by all appropriate

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         proceedings, which proceedings shall be defended or prosecuted
         diligently by the Company to a Final Determination; provided, however,
         that (i) the Company shall not, without Employee's prior written
         consent, enter into any compromise or settlement of such Employee Claim
         that would adversely affect Employee, (ii) any request from the Company
         to Employee regarding any extension of the statute of limitations
         relating to assessment, payment, or collection of taxes for the taxable
         year of Employee with respect to which the contested issues involved
         in, and amount of, Employee Claim relate is limited solely to such
         contested issues and amount, and (iii) the Company's control of any
         contest or proceeding shall be limited to issues with respect to
         Employee Claim and Employee shall be entitled to settle or contest, in
         his sole and absolute discretion, any other issue raised by the
         Internal Revenue Service or any other taxing authority. So long as the
         Company is diligently defending or prosecuting such Employee Claim,
         Employee shall provide or cause to be provided to the Company any
         information reasonably requested by the Company that relates to such
         Employee Claim, and shall otherwise cooperate with the Company and its
         representatives in good faith in order to contest effectively such
         Employee Claim. the Company shall keep Employee informed of all
         developments and events relating to any such Employee Claim (including,
         without limitation, providing to Employee copies of all written
         materials pertaining to any such Employee Claim), and Employee or his
         authorized representatives shall be entitled, at Employee's expense, to
         participate in all conferences, meetings and proceedings relating to
         any such Employee Claim.

                  (vii) If, after actual receipt by Employee of an amount of a
         tax claimed (pursuant to an Employee Claim) that has been advanced by
         the Company pursuant to Section 7(f)(v)(2) hereof, the extent of the
         liability of the Company hereunder with respect to such tax claimed has
         been established by a Final Determination, Employee shall promptly pay
         or cause to be paid to the Company any refund actually received by, or
         actually credited to, Employee with respect to such tax (together with
         any interest paid or credited thereon by the taxing authority and any
         recovery of legal fees from such taxing authority related thereto),
         except to the extent that any amounts are then due and payable by the
         Company to Employee, whether under the provisions of this Agreement or
         otherwise. If, after the receipt by Employee of an amount advanced by
         the Company pursuant to Section 7(f)(v)(2), a determination is made by
         the Internal Revenue Service or other appropriate taxing authority that
         Employee shall not be entitled to any refund with respect to such tax
         claimed, and the Company does not notify Employee in writing of its
         intent to contest such denial of refund prior to the expiration of 30
         days after such determination, then such advance shall be forgiven and
         shall not be required to be repaid and the amount of such advance shall
         offset, to the extent thereof, the amount of any Gross-Up Payments and
         other payments required to be paid hereunder.

                  (viii) With respect to any Employee Claim, if the Company
         fails to deliver an Election Notice to Employee within the period
         provided in Section 7(f)(v)(1) hereof or, after delivery of such
         Election Notice, the Company fails to comply with the provisions of
         Section 7(f)(v)(2) and (3) and 7(f)(vi) hereof, then Employee shall at
         any time thereafter have the right (but not the obligation), at his
         election and in his sole and absolute discretion, to defend or
         prosecute, at the sole cost, expense and risk of the Company, such
         Employee Claim. Employee shall have full control of such defense or
         prosecution and such proceedings, including any settlement or
         compromise thereof. If requested by Employee, the Company shall
         cooperate, and shall cause its Affiliates to cooperate, in good faith
         with Employee and his authorized representatives in order to contest
         effectively such Employee Claim. the Company may attend, but not
         participate in or control, any defense, prosecution, settlement or
         compromise of any Employee Claim controlled by Employee pursuant to
         this Section 7(f)(viii) and shall bear its own costs and expenses with
         respect thereto. In the case of any Employee Claim that is defended or
         prosecuted by Employee, Employee shall, from time to time, be entitled
         to current payment, on a fully grossed-up after tax basis, from the
         Company with respect to costs and expenses incurred by Employee in
         connection with such defense or prosecution.

                  (ix) In the case of any Employee Claim that is defended or
         prosecuted to a Final Determination pursuant to the terms of this
         Section 7(f)(ix), the Company shall pay, on a fully grossed-up after
         tax basis, to Employee in immediately available funds the full amount
         of any taxes arising or resulting from or incurred in connection with
         such Employee Claim that have not theretofore been paid by the Company
         to Employee,

                                      -8-
<PAGE>

         together with the costs and expenses, on a fully grossed-up after tax
         basis, incurred in connection therewith that have not theretofore been
         paid by the Company to Employee, within ten calendar days after such
         Final Determination. In the case of any Employee Claim not covered by
         the preceding sentence, the Company shall pay, on a fully grossed-up
         after tax basis, to Employee in immediately available funds the full
         amount of any taxes arising or resulting from or incurred in connection
         with such Employee Claim at least ten calendar days before the date
         payment of such taxes is due from Employee, except where payment of
         such taxes is sooner required under the provisions of this Section
         7(f)(ix), in which case payment of such taxes (and payment, on a fully
         grossed-up after tax basis, of any costs and expenses required to be
         paid under this Section 7(f)(ix)) shall be made within the time and in
         the manner otherwise provided in this Section 7(f)(ix).

                  (x) For purposes of this Agreement, the term "FINAL
         DETERMINATION" shall mean (A) a decision, judgment, decree or other
         order by a court or other tribunal with appropriate jurisdiction, which
         has become final and non-appealable; (B) a final and binding settlement
         or compromise with an administrative agency with appropriate
         jurisdiction, including, but not limited to, a closing agreement under
         Section 7121 of the Code; (C) any disallowance of a claim for refund or
         credit in respect to an overpayment of tax unless a suit is filed on a
         timely basis; or (D) any final disposition by reason of the expiration
         of all applicable statutes of limitations.

                  (xi) For purposes of this Agreement, the terms "TAX" and
         "TAXES" mean any and all taxes of any kind whatsoever (including, but
         not limited to, any and all Excise Taxes, income taxes, and employment
         taxes), together with any interest thereon, any penalties, additions to
         tax, or additional amounts with respect to such taxes and any interest
         in respect of such penalties, additions to tax, or additional amounts."

         (g) Effect of Termination. In the event that the Employee is terminated
pursuant to any paragraph of this Section 7, Employee shall thereafter have no
further rights under this Agreement, except for those explicitly set forth in
the particular paragraph of this Section 7 which served as the basis for such
termination. Notwithstanding any such termination, the covenants and agreements
of Employee contained in Sections 4, 5 (a) (so long as payments under Section
5(a) are continued as therein described), 5 (b) and 6 hereof shall survive and
remain in full force and effect.

SECTION 8.   NOTICES.

         All notices, requests, demands and other communications hereunder must
be in writing and shall be deemed to have been duly given if delivered by hand,
sent to the recipient by reputable express courier service (charge prepaid), or
mailed by first class, registered mail, return receipt requested, postage and
registry fees prepaid and addressed as follows:

                  If to Employee:
                           At the address set forth on page 1 hereof.

                  If to the Company :
                           Cal Dive International, Inc.
                           400 North Sam Houston Parkway East, Suite 400
                           Houston, Texas 77060
                           Attention:  General Counsel

Addresses may be changed by notice in writing signed by the addressee.

SECTION 9.   GENERAL PROVISIONS.

         (a) Company Subsidiaries.    For purposes of this Agreement, the term
"Company" shall include all subsidiaries of the Company.

         (b) Severability. Whenever possible, each provision of this Agreement
shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Agreement is held to be invalid,

                                      -9-
<PAGE>

illegal or unenforceable in any respect under any applicable law or rule in any
jurisdiction, such invalidity, illegality or unenforceability shall not affect
any other provisions of any other jurisdiction, and this Agreement shall be
reformed, construed and enforced in such jurisdictions if such invalid, illegal
or unenforceable provision had never been contained herein. The parties agree
that a court of competent jurisdiction making a determination of the invalidity
or unenforceability of any term or provision of Sections 4, 5 and 6 of this
Agreement shall have the power to reduce the scope, duration or area of any such
term or provision, to delete specific words or phrases or to replace any invalid
or unenforceable term or provision in Sections 4, 5, 6 with a term or provision
that is valid and enforceable and that comes closest to expressing the intention
of the invalid or unenforceable term or provision, and this Agreement shall be
enforceable as so modified.

         (c) Complete Agreement. This Agreement, embodies the complete agreement
and understanding among the parties and supersedes and preempts any prior
understandings, agreements or representations by or among the parties, written
or oral, which may have related to the subject matter hereof in any way.

         (d) Counterparts. This Agreement may be executed in separate
counterparts, each of which is deemed to be an original and all of which taken
together constitute one and the same agreement.

         (e) Successors and Assigns. Except as otherwise provided herein, this
Agreement shall bind and inure to the benefit of and be enforceable by the
Company and Employee and their respective successors and assigns; provided that
the rights and obligations of Employee under this Agreement shall not be
assignable without the prior written consent of the Company.

         (f) Governing Law. All questions concerning the construction, validity
and interpretation of this Agreement and the exhibits hereto shall be governed
by the internal law, and not the law of conflicts, of the State of Texas.

         (g) Remedies. Each of the parties to this Agreement shall be entitled
to enforce its rights under this Agreement specifically, to recover damages and
costs (including reasonable attorneys fees) caused by any breach of any
provision of this Agreement and to exercise all other rights existing in its
favor. The parties hereto agree and acknowledge that Employee's breach of any
term or provision of this Agreement shall materially and irreparably harm the
Company, that money damages shall accordingly not be an adequate remedy for any
breach of the provisions of this Agreement and that any party in its sole
discretion and in addition to any other remedies it may have at law or in equity
may apply to any court of law or equity of competent jurisdiction (without
posting any bond or deposit) for specific performance and/or other injunctive
relief in order to enforce or prevent any violations of the provisions of this
Agreement.

         (h) Amendment and Waiver. The provisions of this Agreement may be
amended and waived only with the prior written consent of the Company and
Employee.

                                      -10-
<PAGE>

         IN WITNESS, WHEREOF, the parties hereto have duly executed this
Agreement as of the date first above written.

CAL DIVE INTERNATIONAL, INC.                      EMPLOYEE

By:
   -------------------------                      ------------------------------
Name:  Martin R. Ferron
Title: President and Chief
       Operating Officer

                                      -11-<PAGE>

Exhibit 10.11

                     THIRD AMENDMENT TO EMPLOYMENT AGREEMENT

      This Third Amendment to Employment Agreement by and among John P. Driscoll
(the "Executive"), BSB Bancorp, Inc. (the "Corporation"), a Delaware
corporation, and BSB Bank & Trust Company, a New York chartered commercial bank
(the "Bank"), is entered into and effective as of February 21, 2002.

      WHEREAS, the parties have entered into an Employment Agreement dated as of
January 25, 1999, (the "Employment Agreement") which Employment Agreement was
amended by an amendment dated May 31, 2000 and an amendment dated March 16,
2001;

      WHEREAS, at a meeting on January 28, 2002 the Boards of Directors of the
Corporation and the Bank (collectively, the "Employers") approved and authorized
an amendment to the Employment Agreement, as amended, to extend the term thereof
to December 31, 2002;

      NOW, THEREFORE, the Employers and the Executive hereby agree that the
Employment Agreement, as amended, shall be further amended as follows;

1.       Section 5 of the Employment Agreement is amended to substitute
         "December 31, 2002" for "March 31, 2002".

2.       In all other respects, the Employment Agreement shall remain in
         full force and effect.

                  IN WITNESS WHEREOF, the parties have executed this Third
Amendment to Employment Agreement effective as of the date first above written.

                                 BSB BANCORP, INC.

ATTEST:                          By:  /s/ Howard W. Sharp
                                      --------------------------
/s/ Larry Denniston               Title: President and Chief Executive Officer
-----------------------------            -------------------------------------
(Corporate Secretary)

                                 BSB BANK & TRUST COMPANY

ATTEST:                          By: /s/ Howard W. Sharp
                                     -------------------------------------------
/s/ Larry Denniston               Title: President and Chief Executive Officer
----------------------------             -------------------------------------
(Corporate Secretary)

                                 EXECUTIVE

                                 /s/John P.Driscoll
                                 ------------------
                                 John P. Driscoll

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