Document:

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                                                                   EXHIBIT 10.29

                       FIRST AMENDMENT TO CREDIT AGREEMENT

         This FIRST AMENDMENT TO CREDIT AGREEMENT, dated as of September __
1999, is hereby made and entered into by and between BAKER HUGHES INCORPORATED,
a Delaware corporation (the "Company"), and the undersigned bank (the "Bank").

                                   WITNESSETH

         WHEREAS, the Company and the Bank have entered into that certain Credit
Agreement dated as of October 1, 1998 with an initial term of 364 days (the
"Credit Agreement"); and

         WHEREAS, the Company and the Bank desire to amend the Credit Agreement
as hereinafter set forth.

         NOW, THEREFORE, in consideration of the premises and the mutual
agreements herein contained, the Company and the Bank agree as follows:

     1. AMENDMENTS TO CREDIT AGREEMENT.

          (a) Section 1.01 (Definitions) of the Credit Agreement is amended as
              follows:

              (i) The words "or the most recent amendment to this agreement" are
              inserted between the words "Agreement" and "as" in the second line
              of the definition of "Commitment Limit."

              (ii) The following phrase is added at the end of the definition of
              "LIBOR Margin":

                   "; provided, further, that, in the event that the aggregate
                   Eurodollar Advances and Reference Rate Advances outstanding
                   exceed thirty-three and one-third percent (331/3%) of the
                   Commitment Limit, then the Eurodollar Rates in (a), (b) and
                   (c) above shall be increased to .245%, .35% and .52%,
                   respectively, for all Eurodollar Advances outstanding during
                   the period in which the aggregate Eurodollar Advances and
                   Reference Rate Advances outstanding exceed thirty-three and
                   one-third percent (331/3%) of the Commitment Limit."

          (b) Section 2.04 (Facility and Origination Fees) of the Credit
              Agreement is amended by adding the following subsection (c):

                   "(c) Up-Front Fee. If the Bank consents to the Company's
                   Extension Request pursuant to Section 3.01(h), then the
                   Company

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                                                                   EXHIBIT 10.29

                   agrees to pay the Bank a one-time fee, in Dollars, equal to
                   .03% of the Commitment Limit, payable no later than October
                   15, 1999."

          (c) Exhibit B (Bank and Other Banks) to the Credit Agreement is
              amended in its entirety and replaced with a new Exhibit B as
              attached hereto.

     2. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company's execution,
        delivery and performance of this Amendment have been duly authorized by
        all necessary corporate action, do not require the consent or approval
        of any governmental body or other regulatory authority, and are not in
        contravention of or in conflict with any law or regulation applicable to
        the Company or any term or provision of the charter or bylaws of the
        Company. This Amendment is the valid and legally binding obligation of
        the Company, enforceable in accordance with its terms, except as such
        enforceability may be

              (i) limited by the effect of any applicable bankruptcy,
              insolvency, reorganization, moratorium, fraudulent transfer or
              other similar laws from time to time in effect and judicial
              decisions relating to or affecting the enforceability of
              creditors' rights and debtor's obligations generally, and

              (ii) subject to the effect of general principles of equity
              (regardless of whether such enforceability is considered in a
              proceeding in equity or at law).

     3. REAFFIRMATION OF CREDIT AGREEMENT. This Amendment shall be deemed to be
        an amendment to the Credit Agreement, and the Credit Agreement, as
        amended hereby, is hereby ratified, approved and confirmed in each and
        every respect. All references to the Credit Agreement in the Credit
        Agreement shall hereafter be deemed to refer to the Credit Agreement, as
        amended hereby.

     4. DEFINED TERMS. Terms used but not defined herein when defined in the
        Credit Agreement shall have the same meanings herein unless the context
        otherwise requires.

     5. APPLICABLE LAW. This Amendment shall be governed by and construed in
        accordance with the laws of the State of Texas, United States of
        America.

     6. COUNTERPARTS. This Amendment may be separately executed (including
        execution by delivery of a facsimile or telecopied signature) in any
        number of counterparts and by different parties hereto in separate

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                                                                   EXHIBIT 10.29

        counterparts, each of which when so executed shall be deemed to
        constitute one and the same Amendment.

     7. SEVERABILITY. If any term or provision of this Amendment shall be
        determined to be illegal or unenforceable, all other terms and
        provisions of those documents shall nevertheless remain effective and
        shall be enforced to the fullest extent permitted by applicable law.

     8. HEADINGS. Section headings used in this Amendment are for reference only
        and shall not affect the construction of this Amendment.

     9. FINAL AGREEMENT. THIS AMENDMENT, TOGETHER WITH THE CREDIT AGREEMENT,
        REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
        CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL
        AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS
        BETWEEN THE PARTIES.

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                                                                   EXHIBIT 10.29

         IN WITNESS WHEREOF, the Company and the Bank have caused this First
Amendment to Credit Agreement to be duly executed as of the day and year first
above written.

COMPANY:
BAKER HUGHES INCORPORATED

By:
   ---------------------------------
       H. Gene Shiels
       Assistant Treasurer

BANK:

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

Commitment Limit:
(if different than limit on signature page to Credit Agreement)

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                                                                   EXHIBIT 10.29

                                    EXHIBIT B
                              BANK AND OTHER BANKS

<TABLE>
<CAPTION>
Bank and Other Banks                                                Commitment Limit
--------------------                                                ----------------
<S>                                                                 <C>
ABN AMRO Bank N.V.                                                    12,500,000
Australia and New Zealand Banking Group Limited                       12,500,000
Bank of America National Trust and Savings Association                28,125,000
Bank of Tokyo-Mitsubishi, Ltd.                                        12,500,000
The Bank of New York                                                  12,500,000
Barclays Bank PLC                                                     25,000,000
Bayerische Hypo- Und Vereinsbank AG                                   12,500,000
Chase Bank of Texas, National Association                             28,125,000
Citibank, NA                                                          28,125,000
Credit Suisse First Boston                                            12,500,000
Dresdner Bank AG, New York Branch                                     12,500,000
Morgan Guaranty Trust Company of New York                             28,125,000
Northern Trust Company                                                12,500,000
Royal Bank of Canada                                                  12,500,000
                                                                     -----------

         TOTAL                                                       250,000,000
</TABLE>

                                       5<PAGE>   1
                                                                   EXHIBIT 10.30

                            BAKER HUGHES INCORPORATED
                       NONQUALIFIED STOCK OPTION AGREEMENT

Grantee                                                          Shares Granted

Pursuant to action taken by the Compensation Committee of the Board of Directors
of Baker Hughes Incorporated, a Delaware corporation (the "Company"), for the
purposes of administration of the Baker Hughes Incorporated Long Term Incentive
Plan, as amended (the "Plan"), the above-named Grantee is hereby granted a
nonqualified stock option to purchase the above number of shares of the
Company's $1 par value per share common stock at the exercise price of $23.50
for each share subject to this option, payable at the time of exercise.  Subject
to the terms of the Plan and this Nonqualified Stock Option Agreement regarding
exercise, this option will vest and become exercisable with respect to
increments of thirty-three and one-third percent (33-1/3%) of the shares subject
to this option on the 3rd day of February in each of the years 2001, 2002 and
2003; provided the Grantee remains employed by the Company or its subsidiaries.
This option may not be exercised after February 3, 2010.

The following provisions will apply in the event of Grantee's termination of
employment:

       1. If Grantee's employment is terminated for any reason (other than as
covered by the following paragraphs, or by the Company without Cause or by the
Grantee for Good Reason within two years following a Change of Control), this
option will wholly and completely terminate on the date of termination of
employment, to the extent it is not then exercisable; however, to the extent the
option is exercisable, Grantee shall have three months from the date of
termination of employment to exercise the option (but in no event later than
February 3, 2010).

       2.  If Grantee's employment is terminated for Cause, including but not
limited to fraud, theft,  embezzlement committed against the Company or any of
its affiliated companies or customer of the Company, or for conflict of
interest, unethical conduct, dishonesty affecting the assets, properties or
business of the Company or any of its affiliated companies, willful misconduct,
or continued material dereliction of duties, if such termination of employment
occurs prior to a Change of Control or after the second anniversary of a Change
of Control, this option will wholly and completely terminate on the date of
termination of employment, or if such termination occurs within two years
following a Change of Control, this option will wholly and completely terminate
on the date thirty days following such termination of employment (but in no
event later than February 3, 2010).

       3.  In the event of the retirement (such that the Grantee's age plus
years of service with the Company equals or exceeds 65) or disability of the
Grantee, all granted but unvested options shall immediately vest upon the
Grantee's retirement or disability.  The Grantee shall have three years from the
date of termination of employment due to retirement or disability to exercise
this option (but in no event later than February 3, 2010).

       4.  Upon the death of the Grantee in active service, all granted but
unvested options shall immediately vest upon the Grantee's death and otherwise
shall be exercisable for a period of one year following Grantee's death (but in
no event later than February 3, 2010).

       5.  Upon the termination of employment of the Grantee by the Company
without Cause or by the Grantee for Good Reason within two years following a
Change of Control, the Grantee shall have two years from the date of termination
of employment to exercise this option (but in no event later than February 3,
2010).

In the event that the Company is party to a transaction which is otherwise
intended to qualify for "pooling of interests" accounting treatment (i) the
provisions of this option shall to the extent practicable, be interpreted so as
to permit such accounting treatment, and (ii) to the extent that application of
clause (i) of this sentence does not preserve the availability of such
accounting treatment, then, to the extent that any of the provisions of this
option

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disqualifies the transaction as a "pooling" transaction, the Board of Directors
of the Company may amend any provisions of this option and/or declare this
option null and void if and to the extent necessary (including declaring such
provision or provisions to be null and void as of the date hereof) so that such
transaction may be accounted for as a "pooling of interests."

Notwithstanding any other provision of this Nonqualified Stock Option Agreement,
if Grantee engages in a "Prohibited Activity," as described below, while
employed by the Company or any of its affiliates or within two years after
Grantee's employment termination date, then Grantee's right to exercise any
portion of this option, to the extent still outstanding at that time, shall
immediately thereupon wholly and completely terminate.  If an allegation of a
Prohibited Activity by Grantee is made to the Compensation Committee of the
Board of Directors of the Company (the "Committee"), the Committee, in its
discretion, may suspend the exercisability of this option for up to two months
to permit the investigation of such allegation, however, if it is determined
that no Prohibited Activity was engaged in by Grantee, the period of
exercisability of this option will be increased by the amount of time of such
suspension, however, in no event will this option be exercisable more than ten
(10) years from the date of grant.  A "Prohibited Activity" shall be deemed to
have occurred, as determined by the Committee in its sole and absolute
discretion, if Grantee:

       (i)  divulges any non-public, confidential or proprietary information of
       the Company or its past, present or future affiliates (collectively, the
       "Baker Hughes Group"), but excluding information that (a) becomes
       generally available to the public other than as a result of Grantee's
       public use, disclosure, or fault, or (b) becomes available to Grantee on
       a non-confidential basis after Grantee's employment termination date from
       a source other than a member of the Baker Hughes Group prior to the
       public use or disclosure by Grantee, provided that such source is not
       bound by a confidentiality agreement or otherwise prohibited from
       transmitting the information by a contractual, legal or fiduciary
       obligation; or

       (ii) directly or indirectly, consults or becomes affiliated with,
       conducts, participates or engages in, or becomes employed by, any
       business that is competitive with the business of any member of the Baker
       Hughes Group, wherever from time to time conducted throughout the world,
       including situations where Grantee solicits or participates in or assists
       in any way in the solicitation or recruitment, directly or indirectly, of
       any employees of any member of the Baker Hughes Group.

Cashless exercise, in accordance with the terms of the Plan, shall be available
to Grantee for the shares subject to this option.

To the extent the exercise of this option results in taxable income to Grantee,
the Company is authorized to withhold from any remuneration payable to Grantee
any tax required to be withheld by reason of such taxable income.

This option is granted under and is subject to all of the provisions of the
Plan.  Capitalized terms which are not defined herein shall have the meaning
ascribed to such terms in the Plan.  This option is not transferable by the
Grantee otherwise than by will or by the laws of descent and distribution, and
is exercisable during the Grantee's lifetime only by the Grantee.

                Date of Grant:  February 3, 2000

                                             BAKER HUGHES INCORPORATED

                                             --------------------------------
                                             G. S. FINLEY
                                             SENIOR VICE PRESIDENT

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