Document:

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                                                                   Exhibit 10.27

                                                                    Attachment 1

                                                                  PRIVILEGED AND
                                                                    CONFIDENTIAL

                       EXIDE TECHNOLOGIES, ET AL., DEBTORS

                          INCOME PROTECTION POLICY PLAN

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                                                                  PRIVILEGED AND
                                                                    CONFIDENTIAL

                       EXIDE TECHNOLOGIES, ET AL., DEBTORS
                          INCOME PROTECTION POLICY PLAN

          I.     APPLICABILITY

                 The Exide Technologies, et al., Debtors, Income Protection
                 Policy Plan (the "Plan") applies to eligible salaried employees
                 of Exide Technologies, Exide Delaware, L.L.C., Exide Illinois,
                 Inc. and RBD Liquidation, L.L.C. (collectively, the "Debtors")
                 on and after April 15, 2002 (the "Petition Date").

          II.    PURPOSE

                 The purpose of this Plan is to memorialize the terms of the
                 Post Separation Income Protection Policy for Salaried
                 Employees, a copy of which is attached hereto and incorporated
                 herein (the "Policy"), as modified or amended by this Plan, as
                 it relates to eligible employees of the Debtors. Except as
                 specifically provided herein, and except with respect to the
                 eligible employees of the Debtors, this Plan does not modify or
                 amend the Policy in any respect.

          III.   ELIGIBILITY

                 Eligibility is determined by the Policy, as amended by this
                 Plan. Eligible employees are designated into three categories:

                 A.    Category A Employees: Chief Executive Officer; Chief
                       Financial Officer; each President of a Global Business
                       Unit; General Counsel; Executive Vice President Human
                       Resources; and Senior Vice President Global Manufacturing
                       and Engineering.

                 Solely with respect to the Category A Employees, the following
                 additional eligibility conditions shall apply:

                       1.    In the event of a vacancy in any of the Category A
                             positions as of or after the Petition Date, the
                             Board of Directors (in the case of the Chief
                             Executive Officer) or the Chief Executive Officer
                             (in the case of the other Category A positions)
                             shall have the authority to confer Category A
                             eligibility upon any salaried employee named to
                             such position ("Designee") on the following terms
                             and subject to the following limitations:

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                                                                  PRIVILEGED AND
                                                                    CONFIDENTIAL

                             a.    If the termination of the predecessor in such
                                   position was not a Qualified Termination, or
                                   if such termination did not result in Income
                                   Protection Benefits and Other Benefits being
                                   provided to such predecessor, or if the
                                   position was vacant as of the Petition Date,
                                   then Category A eligibility may be conferred
                                   on the Designee in the sole discretion of the
                                   Board of Directors or the Chief Executive
                                   Officer, as the case may be.

                             b.    If the termination of the predecessor in such
                                   position was a Qualified Termination, and if
                                   such termination resulted in Income
                                   Protection Benefits and Other Benefits being
                                   provided to such predecessor, then Category A
                                   eligibility may be conferred on the Designee
                                   only with the consent of the Official
                                   Committee of Unsecured Creditors and the
                                   Steering Committee of the Prepetition Secured
                                   Creditors, or as otherwise authorized by the
                                   Bankruptcy Court.

                       2.    For purposes of this Plan, the positions of Chief
                             Financial Officer, General Counsel and Executive
                             Vice President Human Resources shall be deemed as
                             though such positions were vacant as of the
                             Petition Date.

                 B.    Category B Employees: John Bondy; Stephen Ellis; Michael
                       Greenlee; Ian Harvie; Kevin Jenkins; Joseph Jergl;
                       Richard Johnson; George McPherson; Tom O'Neill; Keith
                       Schmid; Heidi Skillman; Randy Suida; John Van Zile; and
                       William Wallace.

                 C.    Class C Employees: all salaried employees of the Debtors,
                       other than Category A and B Employees, eligible for
                       income protection benefits under the terms of the Policy.

                 This Plan and the Policy shall not cover employees of
                 AlixPartners (formerly known as Jay Alix & Associates) or any
                 of its affiliates, or any persons retained by the Debtors
                 pursuant to 11 U.S.C. (S)(S) 327(a) or (e).

                                       -2-

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                                                                  PRIVILEGED AND
                                                                    CONFIDENTIAL

                 Upon receipt of all necessary approvals from the U.S.
                 Bankruptcy Court for the District of Delaware (the "Bankruptcy
                 Court"), the implementation of this Plan and the Policy shall
                 be retroactive to the Petition Date with respect to employees
                 of the Debtors, and the Debtors shall have authority to make
                 such payments and offer such benefits to any employees of the
                 Debtors as if this Plan and the Policy had been in effect and
                 approved by the Bankruptcy Court on the Petition Date.

          IV.    DEFINITIONS

                 A.    "Benefits Period" means (1) with respect to Craig
                       Muhlhauser, three years, and (2) with respect to each
                       other Category A Employee, two years.

                 B.    "Cause" means (1) the willful and continued failure of
                       the employee to substantially perform the employee's
                       duties (other than any such failure resulting from the
                       employee's incapacity due to physical or mental illness),
                       (2) the willful engaging by the employee in conduct which
                       is demonstrably and materially injurious to the Debtors
                       or its affiliates, monetarily or otherwise, or (3) the
                       failure of the employee to follow any policy of the
                       Debtors as written or at the direction of the Chief
                       Executive Officer.

                 C.    "Constructive Termination" means, following a Sale
                       Transaction, either (1) the employee is not offered a
                       position with the acquirer or surviving entity having
                       substantially similar responsibilities and substantially
                       similar remuneration and benefits, or (2) the employee is
                       offered employment with the acquirer or surviving entity
                       at a principal work location that would require a commute
                       of at least 50 miles greater than the commute of such
                       employee to his or her principal work location prior to
                       the Sale Transaction.

                 D.    "Disability" means, with respect to a particular
                       employee, the inability to perform the responsibilities
                       of the particular employee's job due to physical or
                       mental illness or accident.

                 E.    "Good Reason" means, with respect to a particular
                       employee, (1) the assignment to the employee of any
                       duties inconsistent with the employee's status as a
                       senior executive officer or a substantial adverse
                       alteration in the nature or status of the

                                       -3-

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                                                                  PRIVILEGED AND
                                                                    CONFIDENTIAL

                       employee's responsibilities, (2) a reduction in the
                       employee's annual base salary, (3) the relocation of the
                       employee's principal place of business to a location that
                       would require a commute of at least 50 miles greater than
                       the commute of such employee prior to such relocation,
                       (4) the failure of the Debtors to pay any portion of the
                       employee's salary, compensation or benefits within seven
                       days of the date such payment is due, or (5) a
                       substantial adverse alteration in the benefits provided
                       to the employee under any pension, savings, life
                       insurance, medical, health and accident, disability or
                       other plan, except for changes affecting all similarly
                       situated employees.

                 F.    "Muhlhauser Amended Contract" means that certain
                       Executive Employment Agreement by and between Exide
                       Technologies and Craig Muhlhauser, as amended and assumed
                       on June 14, 2002.

                 G.    "Qualified Termination" means, with respect to a
                       particular employee, the employee's involuntary
                       termination other than for Cause, the Constructive
                       Termination of the employee, or the termination of the
                       employee due to Disability.

                 H.    "Sale Transaction" means, with respect to a particular
                       employee, any sale, merger or consolidation of all or
                       substantially all of any of the Debtors' assets, or any
                       division, subsidiary or unit or part of the Debtors in
                       which the employee is employed or has principal
                       responsibilities.

                 I.    "Termination Date" means the date of a Qualified
                       Termination.

          V.     IMPLEMENTATION

                 A.    Category A Employees

                       1.    Income Protection Benefits

                             a.    The Policy shall govern the payment of income
                                   protection benefits ("Income Protection
                                   Benefits") with respect to Category A
                                   Employees, except as provided herein.

                             b.    In addition to any other eligibility
                                   condition giving rise to payments under the
                                   Policy, Income

                                       -4-

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                                                                  PRIVILEGED AND
                                                                    CONFIDENTIAL

                                   Protection Benefits for Category A Employees
                                   shall be available in the event of a
                                   Qualified Termination.

                             c.    Notwithstanding anything in the Policy to the
                                   contrary, the Income Protection Benefits
                                   period for Category A Employees shall be the
                                   Benefits Period.

                             d.    Notwithstanding anything in the Policy to the
                                   contrary, the Income Protection Benefits
                                   amount for each Category A Employee shall
                                   include such employee's target annual bonus
                                   pursuant to any annual bonus or incentive
                                   plan maintained by the Debtors in respect of
                                   the fiscal year in which the Termination Date
                                   occurs.

                       2.    Other Benefits

                             a.    In the event of a Qualified Termination of a
                                   Category A Employee, for the Benefits Period,
                                   the Debtors shall pay or provide such
                                   employee and his or her dependants life,
                                   disability, accident and health insurance,
                                   and other benefits (the "Welfare Benefits")
                                   substantially similar to those provided to
                                   the employee and his or her dependants
                                   immediately prior to the Termination Date,
                                   and at no greater cost to such employee than
                                   the cost to the employee immediately prior to
                                   the Termination Date.

                             b.    In the event of a Qualified Termination of a
                                   Category A Employee, in addition to the
                                   retirement benefits such employee is entitled
                                   to under each Defined Benefit Pension Plan or
                                   any successor plan thereto, the Debtors shall
                                   pay the employee a lump sum amount (the "DB
                                   Plan Benefits"), in cash, equal to the excess
                                   of (i) the actuarial equivalent of the
                                   aggregate retirement pension (taking into
                                   account any early retirement subsidies
                                   associated therewith and determined as a
                                   straight life annuity commencing at the date
                                   (but in no event earlier than the date that
                                   is the

                                       -5-

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                                                                  PRIVILEGED AND
                                                                    CONFIDENTIAL

                                   Termination Date plus the Benefits Period) as
                                   of which the actuarial equivalent of such
                                   annuity is greatest) which the employee would
                                   have accrued under the terms of all Defined
                                   Benefit Pension Plans (without regard to any
                                   amendment which adversely affects in any
                                   manner the computation of retirement benefits
                                   thereunder), determined as if the employee
                                   were fully vested thereunder and had
                                   accumulated (after the Termination Date) the
                                   Benefits Period of service credit thereunder
                                   and had been credited under each Defined
                                   Benefit Pension Plan during such period with
                                   compensation equal to the employee's
                                   compensation (as defined in such Defined
                                   Benefit Pension Plan) during the twelve (12)
                                   months immediately preceding the Termination
                                   Date or, if higher, during the twelve months
                                   immediately prior to the first occurrence of
                                   an event or circumstance constituting Good
                                   Reason, over (ii) the actuarial equivalent of
                                   the aggregate retirement pension (taking into
                                   account any early retirement subsidies
                                   associated therewith and determined as a
                                   straight life annuity commencing at the date
                                   (but in no event earlier than the Termination
                                   Date) as of which the actuarial equivalent of
                                   such annuity is greatest) which the employee
                                   had accrued pursuant to the provisions of the
                                   Defined Benefit Pension Plans as of the
                                   Termination Date. For purposes of this
                                   provision, "actuarial equivalent" shall be
                                   determined using the same assumptions
                                   utilized under the Exide Retirement Income
                                   Security Plan immediately prior to the
                                   Termination Date, or, if more favorable to
                                   the Executive, immediately prior to the first
                                   occurrence of an event or circumstance
                                   constituting Good Reason.

                             c.    In the event of a Qualified Termination of a
                                   Category A Employee, in addition to the
                                   benefits to which the employee is entitled
                                   under each Defined Contribution Pension Plan
                                   or any

                                       -6-

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                                                                  PRIVILEGED AND
                                                                    CONFIDENTIAL

                                   successor plan thereto, the Debtors shall pay
                                   the employee a lump sum amount (the "DC Plan
                                   Benefits"), in cash, equal to the sum of (i)
                                   the amount that would have been contributed
                                   thereto by the Debtors on the employee's
                                   behalf during the period of time equal to the
                                   Termination Date plus the Benefits Period,
                                   determined (x) as if the employee made the
                                   maximum permissible contributions thereto
                                   during such period, (y) as if the employee
                                   earned compensation during such period at a
                                   rate equal to the employee's compensation (as
                                   defined in the Defined Contribution Pension
                                   Plan) during the twelve (12) moths
                                   immediately preceding the Termination Date
                                   or, if higher, during the twelve months
                                   immediately prior to the first occurrence of
                                   an event or circumstance constituting Good
                                   Reason, and (z) without regard to any
                                   amendment which adversely affects in any
                                   manner the computation of benefits
                                   thereunder, and (ii) in excess, if any, of
                                   (x) the employee's account balance under the
                                   Defined Contribution Pension Plan as of the
                                   Termination Date over (y) the portion of such
                                   account balance that is nonforfeitable under
                                   the terms of the Defined Contribution Pension
                                   Plan.

                             d.    In the event of a Qualified Termination of a
                                   Category A Employee, the Debtors shall
                                   provide the employee with (i) outplacement
                                   services suitable to the employee's position
                                   for the Benefits Period or, if earlier, until
                                   the first acceptance by the employee of an
                                   offer of employment, and (ii) individual tax
                                   and financial counsel for a period of one (1)
                                   year (together, the "Miscellaneous
                                   Benefits").

                             e.    The Welfare Benefits, the DB Plan Benefits,
                                   the DC Plan Benefits and the Miscellaneous
                                   Benefits are collectively referred to herein
                                   as the "Other Benefits."

                                       -7-

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                                                                  PRIVILEGED AND
                                                                    CONFIDENTIAL

                       3.    Additional Conditions

                             a.    In order to receive Income Protection
                                   Benefits and Other Benefits as set forth in
                                   this Plan and the Policy, each Category A
                                   Employee will be required to execute a
                                   stipulation and release, in form and
                                   substance satisfactory to the Debtors, (i)
                                   consenting to the rejection by the Debtors of
                                   the employee's Change in Control Agreement
                                   (if any) and employment contract (if any),
                                   (ii) releasing all claims against the Debtors
                                   arising from the employee's Change in Control
                                   Agreement (if any) and employment contract
                                   (if any); provided, however, that that
                                   foregoing shall not apply to the Muhlhauser
                                   Amended Contract.

                             b.    Notwithstanding anything in the Policy to the
                                   contrary, a Category A Employee shall not be
                                   required to mitigate the amount of any
                                   payment or benefit provided for in this Plan
                                   or the Policy by seeking other employment;
                                   provided, however, that (i) any Income
                                   Protection Benefit payments to such employee
                                   shall be reduced (if at all) by the amount of
                                   any compensation the employee becomes
                                   entitled to receive from any entity to which
                                   the employee provides services on or after
                                   the Termination Date, and (ii) any Other
                                   Benefits available to such employee shall be
                                   reduced (if at all) by any comparable
                                   benefits that the employee becomes entitled
                                   to receive from any entity to which the
                                   employee provides services on or after the
                                   Termination Date.

                             c.    In order to receive Income Protection
                                   Benefits and Other Benefits as set forth in
                                   this Plan and the Policy following a
                                   Constructive Termination, the Category A
                                   Employee must remain in the employment of the
                                   Debtors until consummation of the Sale
                                   Transaction (or until termination for
                                   Disability, if earlier).

                                       -8-

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                                                                  PRIVILEGED AND
                                                                    CONFIDENTIAL

                             d.    In the event that any of the Income
                                   Protection Benefits or Other Benefits are
                                   subject to any excise tax, the Debtors shall
                                   pay the Category A Employee an additional
                                   amount such that the net amount realized by
                                   such employee (after income and employment
                                   taxes) is equal to the amount such employee
                                   would have realized (after income and
                                   employment taxes) had such payment not been
                                   subject to any excise tax.

                             e.    In the event of the resignation of a Category
                                   A Employee for Good Reason that is not a
                                   Qualified Termination, such employee shall be
                                   treated for all purposes under this Plan and
                                   the Policy as a Category B Employee.

                             f.    In the event that Craig Muhlhauser becomes
                                   entitled to receive duplicative payments or
                                   benefits under both this Plan and the
                                   Muhlhauser Amended Contract, notwithstanding
                                   anything in the Muhlhauser Amended Contract
                                   to contrary, (i) he shall receive only the
                                   more favorable payment or benefit to him, and
                                   (ii) if such payments or benefits are
                                   equivalent, the applicable payment or benefit
                                   shall be deemed to be provided under the
                                   Muhlhauser Amended Contract.

                             g.    Except as specifically provided herein, this
                                   Plan does not modify, alter or amend any
                                   other compensation, welfare, health or
                                   severance benefit that any Category A
                                   Employee is otherwise entitled to receive.

                 B.    Category B Employees

                       1.    The Policy shall govern the payment of Income
                             Protection Benefits with respect to Category B
                             Employees, except as provided herein.

                       2.    Notwithstanding anything in the Policy to the
                             contrary, the Income Protection Benefits period for
                             Category B Employees shall be two years.

                                       -9-

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                                                                  PRIVILEGED AND
                                                                    CONFIDENTIAL

                       3.    Except as specifically provided herein, this Plan
                             does not modify, alter or amend any other
                             compensation, welfare, health or severance benefit
                             that any Category B Employee is otherwise entitled
                             to receive.

                 C.    Category C Employees

                       1.    The Policy shall govern the payment of Income
                             Protection Benefits with respect to Category C
                             Employees.

                       2.    Except as specifically provided herein, this Plan
                             does not modify, alter or amend any other
                             compensation, welfare, health or severance benefit
                             that any Category C Employee is otherwise entitled
                             to receive.

          VI.    ADMINISTRATION

                 A.    This Plan shall be administered by the Chief Executive
                       Officer of Exide Technologies. The term "Plan
                       Administrator" shall refer to the Chief Executive Officer
                       of Exide Technologies or his designee. If the position of
                       the Chief Executive Officer or his designee is vacant, an
                       acting administrator shall be appointed by the Board of
                       Directors.

                 B.    There is no requirement that the amount of any award for
                       any eligible employee be uniform as to particular
                       individuals or as to one or more classes of eligible
                       employees or participants.

                 C.    Subject to the express provisions of this Plan and the
                       Policy, the Plan Administrator shall have authority to
                       interpret the Plan and the Policy and to make all other
                       determinations deemed necessary or advisable for the
                       administration of the Plan and the Policy. All
                       determinations and interpretations of the Plan
                       Administrator shall be final, binding and conclusive as
                       to all persons.

                 D.    The Plan Administrator shall not be personally liable by
                       reason of any action taken in his capacity as Plan
                       Administrator nor for any mistake of judgment made in
                       good faith, and the Debtors shall indemnify and hold
                       harmless each employee, officer or director of the
                       Debtors, including the Plan Administrator, to whom any
                       duty or power relating to the administration or

                                      -10-

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                                                                  PRIVILEGED AND
                                                                    CONFIDENTIAL

                       interpretation of the Plan or the Policy may be allocated
                       or delegated, against any reasonable cost or expense
                       (including counsel fees) or liability (including any sum
                       paid in settlement of a claim with the approval of the
                       Board of Directors) arising out of any act or omission to
                       act in connection with the Plan or the Policy unless
                       arising out of such persons own fraud or bad faith.

          VII.   APPLICABLE LAW

                 This Plan and all action taken under it shall be governed as to
                 validity, construction, interpretation and administration by
                 the laws of the State of New Jersey and applicable federal law.

          VIII.  AMENDMENT OR TERMINATION

                 The Board of Directors of Exide Technologies may amend, suspend
                 or terminate the Plan or any portion thereof at any time;
                 provided, however, that during the pendency of the Debtors'
                 Chapter 11 proceedings, no amendment may be made which
                 increases the amount of benefits payable to any participant
                 without the consent of the Official Committee of Unsecured
                 Creditors and the Steering Committee of the Prepetition Secured
                 Creditors, or as otherwise authorized by the Bankruptcy Court.

          IX.    MISCELLANEOUS

                 The masculine pronoun shall be deemed to include the feminine,
                 and the singular number shall be deemed to include the plural
                 unless a different meaning is plainly required by the context.

          X.     EFFECTIVE DATE

                 The Plan shall become effective upon, and shall be subject to,
                 issuance of an order or orders by the Bankruptcy Court, upon
                 notice and hearing, approving the Plan or any portion thereof,
                 such effectiveness retroactive to the Petition Date.

                                      -11-

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                                                                  PRIVILEGED AND
                                                                    CONFIDENTIAL

By:    ______________________________
       Chief Executive Officer

Date:  ______________________________

                                      -12-<PAGE>

                                                                     EXHIBIT 4.2

                                    SPECIMEN

Neither this warrant nor the shares of common stock issuable upon exercise of
this warrant have been registered under the Securities Act of 1933, and neither
this warrant nor the shares of common stock issuable upon exercise of this
warrant may be sold, transferred, pledged, hypothecated or otherwise disposed of
in whole or in part in the absence of an effective registration statement under
such act or an opinion of counsel reasonably satisfactory to counsel to Seitel,
Inc., in form and substance reasonably satisfactory to Seitel, Inc., that an
exemption from registration under such act or the rules and regulations
thereunder is available with respect to the proposed sale, transfer, pledge,
hypothecation or other disposition.

                                  SEITEL, INC.

                              COMMON STOCK PURCHASE
                               WARRANT CERTIFICATE
                                TO PURCHASE BLANK
                             SHARES OF COMMON STOCK

                    VOID AFTER 5:00 P.M., NEW YORK, NEW YORK
                         LOCAL TIME ON DECEMBER 10, 2000

Certificate No. W-

     This Warrant Certificate certifies that (Name, Address, Social Security
Number), its registered assigns is the registered holder ("Holder") of (Number
of Warrants) Common Stock Purchase Warrants (the "Warrants") to purchase shares
of the $.01 par value common stock, ("Common Stock") of SEITEL, INC., a Delaware
corporation (the "Company"). Each Warrant enables the Holder to purchase from
the Company at any time until 5:00 p.m., New York, New York, local time on
December 10, 2000 one fully paid and non-assessable share of common stock
("Share") upon presentation and surrender of this Warrant Certificate and upon
payment of the purchase price of $22.00 per Share. Payment shall be made in
lawful money of the United States of America by certified check payable to the
Company at its principal office at 16010 Barker's Point Lane, Suite 550,
Houston, Texas 77079. As hereinafter provided, the purchase price and number of
Shares purchasable upon the exercise of the Warrants are subject to modification
or adjustment upon the happening of certain events.

     FOR ALL OTHER PURPOSES STATED HEREIN, THE COMPANY MAY DEEM AND TREAT THE
PERSON IN WHOSE NAME THIS WARRANT CERTIFICATE IS REGISTERED AS THE ABSOLUTE TRUE
AND LAWFUL OWNER HEREOF FOR ALL PURPOSES WHATSOEVER.

                                       -1-

<PAGE>

1.   Upon surrender to the Company, this Warrant Certificate may be exchanged
     for another Warrant Certificate or Warrant Certificates evidencing a like
     aggregate number of Warrants. If this Warrant Certificate shall be
     exercised in part, the Holder shall be entitled to receive upon surrender
     hereof another Warrant Certificate or Warrant Certificates evidencing the
     number of Warrants not exercised.

2.   No Holder shall be deemed to be the holder of Common Stock or any other
     securities of the Company that may at any time be issuable on the exercise
     hereof for any purpose nor shall anything contained herein be construed to
     confer upon the Holder any of the rights of a shareholder of the Company or
     any right to vote for the election of directors or upon any matter
     submitted to shareholders at any meeting thereof or to give or withhold
     consent to any corporate action (whether upon any reorganization, issuance
     of stock, reclassification or conversion of stock, change of par value,
     consolidation, merger, conveyance, or otherwise) or to receive notice of
     meetings or to receive dividends or subscription rights or otherwise until
     a Warrant shall have been exercised and the Common Stock purchasable upon
     the exercise thereof shall have become issuable.

3.   Each Holder consents and agrees with the Company and any other Holder
     that:

     A.   this Warrant Certificate is exercisable in whole or in part by the
          Holder in person or by attorney duly authorized in writing at the
          principal office of the Company.

     B.   anything herein to the contrary notwithstanding, in no event shall the
          Company be obligated to issue Warrant Certificates evidencing other
          than a whole number of Warrants or issue certificates evidencing other
          than a whole number of Shares upon the exercise of this Warrant
          Certificate; provided, however, that the Company shall pay with
          respect to any such fraction of a Share an amount of cash based upon
          the current public market value (or book value, if there shall be no
          public market value) for Shares purchasable upon exercise hereof, as
          determined in accordance with subparagraph I of Section 10 hereof; and

     C.   the Company may deem and treat the person in whose name this Warrant
          Certificate is registered as the absolute true and lawful owner hereof
          for all purposes whatsoever.

                                       -2-

<PAGE>

4.   The Company shall maintain books for the transfer and registration of
     Warrants. Upon the transfer of any Warrants, the Company shall issue and
     register the Warrants in the names of the new Holders. The Warrants shall
     be signed manually by the Chairman, Chief Executive Officer, President or
     any Vice President and the Secretary (or Assistant Secretary) of the
     Company. The Company shall transfer, from time to time, any outstanding
     Warrants upon the books to be maintained by the Company for such purpose
     upon surrender thereof for transfer properly endorsed or accompanied by
     appropriate instructions for transfer. Upon any transfer, a new Warrant
     Certificate shall be issued to the transferee and the surrendered Warrants
     shall be cancelled by the Company. Warrants may be exchanged at the option
     of the Holder, when surrendered at the office of the Company, for another
     Warrant, or other Warrants of different denominations, of like tenor and
     representing in the aggregate the right to purchase a like number of
     Shares. Subject to the terms of this Warrant Certificate, upon such
     surrender and payment of the purchase price, the Company shall issue and
     deliver with all reasonable dispatch to or upon the written order of the
     Holder of such Warrants and in such name or names as such Holder may
     designate, a certificate or certificates for the number of full Shares so
     purchased upon the exercise of such Warrants. Such certificate or
     certificates shall be deemed to have been issued and any person so
     designated to be named therein shall be deemed to have become the holder of
     record of such Shares as of the date of the surrender of such Warrants and
     payment of the purchase price; provided, however, that if, at the date of
     surrender and payment, the transfer books of the Shares shall be closed,
     the certificates for the Shares shall be issuable as of the date on which
     such books shall be opened and until such date the Company shall be under
     no duty to deliver any certificate for such Shares; provided, further,
     however, that such transfer books, unless otherwise required by law or by
     applicable rule of any national securities exchange, shall not be closed at
     any one time for a period longer than 20 days. The rights of purchase
     represented by the Warrants shall be exercisable, at the election of the
     Holders, either as an entirety or from time to time for part only of the
     Shares.

5.   The Company will pay any documentary stamp taxes attributable to the
     initial issuance of the Shares issuable upon the exercise of the Warrants;
     provided, however, that the Company shall not be required to pay any tax or
     taxes which may be payable in respect of any transfer involved in the
     issuance or delivery of any certificates for Shares in a name other than
     that of the Holder in respect of which such Shares are issued, and in

                                       -3-

<PAGE>

     such case the Company shall not be required to issue or deliver any
     certificate for Shares or any Warrant until the person requesting the same
     has paid to the Company the amount of such tax or has established to the
     Company's satisfaction that such tax has been paid.

6.   In case the Warrant Certificate shall be mutilated, lost, stolen or
     destroyed, the Company may, in its discretion, issue and deliver in
     exchange and substitution for and upon cancellation of the mutilated
     Warrant Certificate, or in lieu of and substitution for the Warrant
     Certificate, lost, stolen or destroyed, a new Warrant Certificate of like
     tenor and representing an equivalent right or interest, but only upon
     receipt of evidence satisfactory to the Company of such loss, theft or
     destruction and an indemnity, if requested, also satisfactory to it.

7.   The Company warrants that there have been reserved, and covenants that at
     all times in the future it shall keep reserved, out of the authorized and
     unissued Common Stock, a number of Shares sufficient to provide for the
     exercise of the rights or purchase represented by this Warrant Certificate.
     The Company agrees that all Shares issuable upon exercise of the Warrants
     shall be, at the time of delivery of the certificates for such Shares,
     validly issued and outstanding, fully paid and non-assessable and that the
     issuance of such Shares will not give rise to preemptive rights in favor of
     existing shareholders.

8.   As used herein, the term "Exercise Rate" shall mean the number and kind of
     shares of capital stock of the Company which the Holder of this Warrant
     shall be entitled from time to time to receive for each $1,000.00 of
     warrant exercise payment. Unless and until an adjustment thereof shall be
     required as hereinafter provided, the Exercise Rate shall be 50 shares of
     Common Stock.

9.   The term "Exercise Price" shall mean the price obtained by dividing
     $1,000.00 by the number of shares constituting the Exercise Rate in effect
     at the time for such amount.

10.  The Exercise Rate in effect any time shall be subject to adjustment as
     follows:

     A.   Whenever the Company shall (i) pay a dividend on Common Stock in
          shares of its Common Stock, (ii) subdivide its outstanding shares of
          Common Stock, (iii) combine its outstanding shares of Common Stock
          into a smaller number of shares, or (iv) issue by reclassification of
          its shares of Common Stock (including any reclassification in
          connection with a

                                       -4-

<PAGE>

          consolidation or merger in which the Company is the continuing
          corporation) any shares, the Exercise Rate in effect at the time of
          the record date for such dividend or of the effective date of such
          subdivision, combination or reclassification shall be proportionately
          adjusted so that the Holder of this Warrant exercising it after such
          time shall be entitled to receive the total number and kind of shares
          which bear the same proportion to the total issued and outstanding
          Common Stock of the Company immediately after such time as the
          proportion he would have owned and have been entitled to receive
          immediately prior to such time.

     B.   Whenever the Company shall issue any shares of Common Stock other
          than:

          (i)  shares issued in a transaction described in subparagraph H of
               this Paragraph 10; and

          (ii) shares issued upon exercise or conversion of securities of the
               type referred to in subparagraphs E and F of this Paragraph 10 or
               shares issued, subdivided or combined in transactions described
               in subparagraph (A) of this Paragraph 10 if and to the extent
               that the Exercise Rate shall have been previously adjusted
               pursuant to the terms of this subparagraph (B) or subparagraph
               (A) of this Paragraph 10 as a result of the issuance, subdivision
               or combination of such securities; at a price per share which is
               less than the current public market value of a share of Common
               Stock, the Exercise Rate in effect immediately prior to such
               issuance shall be adjusted by multiplying such Exercise Rate by a
               fraction, the numerator of which shall be the number of shares of
               Common Stock outstanding immediately prior to such issuance plus
               the number of additional shares of Common Stock so issued, and
               the denominator of which shall be the number of Shares of Common
               Stock outstanding immediately prior to such issuance plus the
               number of shares of Common Stock which the fair value of the
               consideration received by the Company for the total number of
               additional shares so issued would purchase at a price equal to
               the current public market value.

     C.   Whenever the Company shall pay a dividend or make a distribution
          (other than in a transaction which results in an equivalent adjustment
          pursuant to other subparagraphs of this Paragraph 10) generally to
          holders of its Common Stock or evidences of its

                                       -5-

<PAGE>

          indebtedness or assets (excluding dividends paid in, or distributions
          of cash to the extent of current income or earned surplus of the
          Company), or securities of the Company, or rights to subscribe for or
          purchase securities of the Company, the Exercise Rate in effect
          immediately prior to such distribution shall be adjusted by
          multiplying such Exercise Rate by a fraction, the numerator of which
          shall be the then current public market value, if any, per share of
          the Common Stock receiving such dividend or distribution or, if there
          shall be no such current public market value, then the book value per
          share as of the close of the month preceding such distribution, and
          the denominator of which shall be the numerator less the fair market
          value of the portion of the assets, or the evidences of indebtedness
          or rights, so distributed which is applicable to each such share;
          provided, however, if as a result of such adjustment the Exercise
          Price would be a negative figure, such adjustment shall be modified so
          that the Exercise Price after such adjustment is $.01 per share.

     D.   Whenever the Company shall issue by reclassification of its shares of
          Common Stock any shares of stock, the Exercise Rate in effect
          immediately prior to such issuance shall be proportionately adjusted
          so that the Holder of this Warrant exercising it after such time shall
          be entitled to receive, the number and kind of shares which, when
          added to the number of shares of such kind exercisable hereunder prior
          to such issue, would entitle the Holder hereof, upon the exercise
          hereof in full, to purchase an amount of shares of such kind which
          bears the same proportion to the total issued and outstanding capital
          stock of the Company as the proportion he would have owned and have
          been entitled to receive immediately prior to such issue. In the event
          that at any time, as a result of an adjustment made pursuant to this
          Paragraph 10, the Holder of this Warrant shall become entitled upon
          exercise thereof to receive any shares of the Company other than
          shares of its Common Stock, then thereafter the number of such other
          shares so receivable upon exercise of this Warrant shall be subject to
          adjustment from time to time in a manner and on terms as nearly
          equivalent as practicable to the provisions contained in this
          Paragraph 10 in the respect of the Common Stock.

     E.   For purposes of the adjustments provided for in the foregoing
          subparagraphs of this Paragraph 10, if at any time, the Company shall
          issue any rights or options for the purchase of, or stock or other

                                       -6-

<PAGE>

          securities convertible into Common Stock, (such convertible stock or
          securities being herein referred to as "Convertible Securities") the
          Company shall be deemed to have issued at the time of the issuance of
          such rights or options or Convertible Securities the maximum number of
          shares of Common Stock issuable upon exercise or conversion thereof
          and to have received as consideration for the issuance of such shares
          an amount equal to the amount of cash and fair value of other
          consideration, if any, received by the Company for the issuance of
          such rights or options or Convertible Securities, plus, in the case of
          such options or rights, the minimum amounts of cash and fair value of
          other consideration, if any, payable to the Company upon the exercise
          of such options or rights and, in the case of Convertible Securities,
          the minimum amounts of cash and fair value of other consideration, if
          any, payable, to the Company.

     F.   For purposes of the adjustment provided for in subparagraph B above,
          if at any time the Company shall issue any rights or options for the
          purchase of Convertible Securities, the Company shall be deemed to
          have issued at the time of the issuance of such rights or options the
          maximum number of shares of Common Stock issuable upon conversion of
          the total amount of Convertible Securities covered by such rights or
          options and to have received as consideration for the issuance of such
          shares an amount equal to the amount of cash and the amount of fair
          value of other consideration, if any, received by the Company for the
          issuance of such rights or options, plus the minimum amounts of cash
          and fair value of other consideration, if any, payable to the Company
          upon the exercise of such rights or options and payable to the Company
          upon the exercise of such rights or options and payable to the Company
          on conversion of such Convertible Securities.

     G.   Anything in subparagraph E or F above to the contrary notwithstanding,
          whenever the Company shall issue any shares (other than on exercise of
          this Warrant) upon exercise of any rights or options or upon
          conversion of any Convertible Securities and if the Exercise Rate
          shall not previously have been adjusted upon the issuance of such
          rights, options or Convertible Securities, the computation described
          in subparagraph B above shall be made and the Exercise Rate adjusted
          in accordance with the provisions thereof (the shares so issued being
          deemed for purposes of such computation to have been issued at a price
          per share equal to the amount of cash and fair value of other
          consideration, if any,

                                       -7-

<PAGE>

          properly attributable to one such share received by the Company upon
          issuance and exercise of such rights or options or sale and conversion
          of such Convertible Securities (and upon issuance of any rights or
          options pursuant to which such Convertible Securities may have been
          sold).

     H.   Anything in this Paragraph 10 to contrary notwithstanding, no
          adjustment in the Exercise Rate or Exercise Price shall be made in
          connection with:

          (i)  Convertible Securities issued pursuant to the Company's
               qualified or non-qualified Employee Stock Option Plans or any
               other bona fide employee benefit plan or incentive arrangement,
               adopted or approved by the Company's Board of Directors or shares
               of Common Stock issued pursuant to the exercise of any rights or
               options granted pursuant to said plans or arrangements (but only
               to the extent that the aggregate number of shares excluded by the
               Clause (i) and issued after the date hereof shall not exceed 15%
               of the Company's Common Stock outstanding at the time of any such
               issuance); and

          (ii) The issuance of any shares of Common Stock pursuant to the
               exercise of Convertible Securities outstanding as of the date
               hereof including without limitation, the conversion of any
               Warrant issued in the same placement of securities pursuant to
               which this Warrant was issued by the Company.

     I.   For purposes of this Paragraph 10, the current public market value of
          a share of Common Stock on any date shall be deemed to be the
          arithmetical average of the following prices for such of the thirty
          (30) business days immediately preceding such day as shall be
          available: (i) for any of such days on which the Common Stock shall be
          listed on a national securities exchange, the last sale price on such
          day or, if there shall have been no sale on such day, the average of
          the closing bid and asked prices on such exchange on such day, or (ii)
          for any of such days on which the Common Stock shall not be listed on
          a national securities exchange but shall be included in the National
          Association of Securities Dealers Automated Quotation System
          ("NASDAQ"), the average of the closing bid and asked prices on such
          day quoted by brokers and dealers making a market in NASDAQ, furnished
          by any member of the New York Stock Exchange selected by the Company
          for that purpose, or (iii) for any of such days on which the Common
          Stock shall not be so

                                       -8-

<PAGE>

          listed on a national securities exchange or included in NASDAQ but
          shall be quoted by three brokers regularly making a market in such
          shares in the over-the-counter market, the average of the closing bid
          and asked prices on such day, furnished by any member of the New York
          Stock Exchange selected by the Company for that purpose, or (iv) for
          any days on which the information described in items (i), (ii) or
          (iii) above is unavailable, the book value per share of the Common
          Stock as determined in accordance with generally accepted accounting
          principles; provided, however, in its discretion the Board may make an
          appropriate reduction in the "current public market value" based upon
          any applicable trading restrictions to particular shares of Common
          Stock.

     J.   Anything in this Paragraph 10 to the contrary notwithstanding, no
          adjustment in the Exercise Rate shall be required unless such
          adjustment would require an increase or decrease of at least 1% in
          such rate; provided, however, that any adjustments which by reason of
          this subparagraph J are not required to be made shall be carried
          forward and taken into account in making subsequent adjustments. All
          calculations under the Paragraph 10 shall be made to the nearest cent
          or to the nearest one-hundredth of a share, as the case may be.

     K.   No adjustment in the Exercise Rate shall be made for purposes of
          subparagraphs B and C of this Paragraph 10 if such adjustment would
          result in an increase in such Exercise Price or decrease in the
          Exercise Rate except that, in the case of any Convertible Securities
          in respect of which an adjustment has previously been made under
          subparagraph B above and which has expired or otherwise been cancelled
          without exercise of the rights or options evidenced thereby, such
          previous adjustment shall be reversed.

     L.   Before taking any action which could cause an adjustment pursuant to
          this Paragraph 10 reducing the Exercise Price per share below the then
          par value (if any) of the shares covered hereby, the Company will take
          any corporate action which may be necessary in order that the Company
          may validly and legally issue at the Exercise Price as so adjusted
          share that are fully paid and non-assessable.

     M.   The number of shares of capital stock of the Company outstanding at
          any given time shall not include shares owned or held by or for the
          account of the Company, and the disposition of any such shares shall
          be considered an issue or sale of such shares for the purposes of this
          Paragraph 10.

                                       -9-

<PAGE>

     N.   If any event occurs as to which the other provisions of this Paragraph
          10 are not strictly applicable but the lack of any adjustment would
          not fairly protect the purchase rights of the Holder of this Warrant
          in accordance with the basic intent and principles of such provisions,
          or if strictly applicable would not fairly protect the purchase rights
          of the Holder of this Warrant in accordance with the basic intent and
          principles of such provisions, then the Company shall appoint a firm
          of independent certified public accountants (which shall not be the
          regular auditors of the Company) of recognized national standing,
          which shall give their opinion upon the adjustment, if any, on a basis
          consistent with the basic intent and principles established in the
          other provisions of this Paragraph 10, necessary to preserve, without
          dilution, the exercise rights of the registered Holder of this
          Warrant. Upon receipt of such opinion, the Company shall forthwith
          make the adjustments described therein. In taking any action or making
          any determination pursuant to the provisions of this Section 10, the
          Company and its Board of Directors shall, at all times, exercise
          reasonable judgment and act in good faith.

     O.   Upon any adjustment of any Exercise Rate, then and in each such case
          the Company shall promptly deliver a notice to the registered Holder
          of this Warrant, which notice shall state the Exercise Price and
          Exercise Rate resulting from such adjustment and the increase or
          decrease, if any, in the number of shares purchasable at such price
          upon the exercise hereof, setting forth in reasonable detail the
          method of calculation and the facts upon which such calculation is
          based.

     P.   In the case of the issuance of shares of Common Stock or Convertible
          Securities for a consideration in whole or in part, other than cash,
          the consideration other than cash shall be deemed to be the fair
          market value thereof as reasonably determined in good faith by the
          Board of Directors of the Company (irrespective of accounting
          treatment thereof); provided, however, that if such consideration
          consists of the cancellation of debt issued by the Company the
          consideration shall be deemed to be the amount the Company received
          upon issuance of such debt (gross proceeds) plus accrued interest and,
          in the case of original issue discount or zero coupon indebtedness,
          accreted value to the date of such cancellation, but not including any
          premium or discount at which the debt may then be trading or which
          might otherwise be appropriate for such class of debt;

                                      -10-

<PAGE>

     Q.   The Company shall not issue any shares of its capital stock (other
          than common stock) at or for consideration which is less than fair
          value determined by the Board of Directors of the Company in light of
          all circumstances surrounding such issuance.

11.  In the case:

     A.   The Company shall declare any dividend or distribution on its Common
          Stock (or on any other shares which the Holder of this Warrant may
          become entitled to receive upon exercise hereof); or

     B.   The Company shall authorize the issuance to holders of its Common
          Stock (or on any other shares which the Holder of this Warrant may
          become entitled to receive upon exercise hereof) any subscription
          rights or warrants; or

     C.   Of any subdivision, combination or reclassification of shares of
          Common Stock of the Company (or any shares of the Company which are
          subject to this Warrant), or of any proposed consolidation or merger
          to which the Company is to be a party and for which the approval of
          any shareholders of the Company is required, or of the proposed sale
          or transfer of all or substantially all of the assets of the Company;
          or

     D.   Of the proposed voluntary or involuntary dissolution, liquidation, or
          winding up of the Company; or

     E.   The Company proposes to effect any transaction not specified above
          which would require an adjustment of the Exercise Rate pursuant to
          Paragraph 10 hereof; then the Company shall cause to be mailed to
          Holders of this Warrant, at least ten (10) days prior to the
          applicable record or other date hereinafter specified, a notice
          describing such transaction in reasonable detail, specifying the
          character, amount and terms of all securities and the amounts of cash
          and other property, if any, involved in such transaction and stating
          (i) the date as of which the holders of Common Stock (or any such
          other shares) of record to be entitled to receive any such dividend,
          distribution, rights, or warrants is to be determined, or (ii) the
          date of which any such subdivision, combination, reclassification,
          consolidation, merger, sale, transfer, dissolution, liquidation,
          winding up, or other transaction is expected to become effective, and
          the date as of

                                      -11-

<PAGE>

          which it is expected that holders of Common Stock (or any such other
          shares) of record shall be entitled to exchange the same for
          securities or other property, if any, deliverable upon such
          transaction.

12.  The Company covenants and agrees that it will not merge or consolidate with
     or into or sell or otherwise transfer all or substantially all of its
     assets to any other corporation or entity unless at the time of or prior to
     such transaction such other corporation or other entity shall expressly
     assume all of the liabilities and obligations of the Company under this
     Warrant and (without limiting the generality of the foregoing) shall
     expressly agree that the Holder of this Warrant shall thereafter have the
     right (subject to subsequent adjustment as nearly equivalent as practicable
     to the adjustments provided for in Paragraph 10 of this Warrant) to receive
     upon the exercise of this Warrant the number and kind of shares of stock
     and other securities and property receivable upon such transaction by a
     Holder of the number and kind of shares which would have been receivable
     upon the exercise of this Warrant immediately prior to such transactions.

13.  The Holder of this Warrant Certificate, each transferee hereof and any
     holder and transferee of any Shares, by his acceptance thereof, agrees that
     (i) no public distribution of Warrants or Shares will be made in violation
     of the Act, and (ii) during such period as the delivery of a prospectus
     with respect to Warrants or Shares may be required by the Act, no public
     distribution of Warrants or Shares will be made in a manner or on terms
     different from those set forth in, or without delivery of, a prospectus
     then meeting the requirements of Section 10 of the Act and in compliance
     with all applicable state securities laws. The Holder of this Warrant
     Certificate and each transferee hereof further agrees that if any
     distribution of any of the Warrants or Shares is proposed to be made by
     them otherwise than by delivery of a prospectus meeting the requirements of
     Section 10 of the Act, such action shall be taken only after submission to
     the Company of an opinion of counsel, reasonably satisfactory in form and
     substance to the Company's counsel, to the effect that the proposed
     distribution will not be in violation of the Act or of applicable state
     law. Furthermore, it shall be a condition to the transfer of the Warrants
     that any transferee thereof deliver to the Company his written agreement to
     accept and be bound by all of the terms and conditions contained in this
     Warrant Certificate.

                                      -12-

<PAGE>

WITNESS the following signatures as of this ____ day of _______, 19__.

                                                   SEITEL, INC.

                                                   By:
                                                      ------------------------
                                                      Paul A. Frame
                                                      President

                                      -13-

<PAGE>

                                  PURCHASE FORM

TO:  SEITEL, INC.                                     DATE:

     The undersigned hereby irrevocably elects to exercise the attached Warrant
Certificate, Certificate No. W-     , to the extent of (number of shares) Shares
of Common Stock, $.01 par value per share of SEITEL, INC., and hereby makes
payment of $       in payment of the aggregate exercise price thereof.

                   INSTRUCTIONS FOR REGISTRATION OF SECURITIES

 Name:________________________________

 Address:_____________________________
         _____________________________
         _____________________________
         _____________________________

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

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

                                      -14-

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