Document:

exv10w1

 

Exhibit 10.1

GLOBAL SETTLEMENT AGREEMENT

AMONG

ASCOT OFFSHORE NIGERIA LIMITED

WILLBROS GROUP, INC.

WILLBROS INTERNATIONAL SERVICES

(NIGERIA) LIMITED

AND

BERKELEY GROUP PLC

 

 

GLOBAL SETTLEMENT AGREEMENT

     THIS GLOBAL SETTLEMENT AGREEMENT (this “Agreement”) is made and entered into effective as of
the 15th day of August, 2007, by and among Ascot Offshore Nigeria Limited, a company
organized under the laws of the Federal Republic of Nigeria (“Ascot”); Willbros Group, Inc., a
corporation organized under the laws of the Republic of Panama (“WGI”); Willbros International
Services (Nigeria) Limited, a company organized under the laws of the Cayman Islands (“WISNL”); and
Berkeley Group Plc, a company organized under the laws of the Federal Republic of Nigeria
(“Berkeley”).

     Ascot, WGI, WISNL and Berkeley are hereinafter sometimes referred to in this Agreement
individually as a “Party” and collectively as the “Parties.”

     Unless the context otherwise requires and save as specifically set forth in this Agreement,
capitalized terms used but not defined in this Agreement shall have the respective meanings given
thereto in the Share Purchase Agreement dated 7th February, 2007, between Ascot and WGI (the
“SPA”).

RECITALS

     A. By virtue of the SPA, Ascot and WGI agreed to and completed the sale by WGI and purchase by
Ascot of the Shares in accordance with the terms and conditions in the SPA.

     B. Pursuant to Section 2.3 of the SPA, Ascot and WGI agreed to adjust the Closing Purchase
Price in accordance with the terms therein.

     C. Ascot and WGI have disputed the method for the preparation of the Working Capital Statement
and the adjustment to the Closing Purchase Price as well as the amounts that may be due and payable
by one party to the other under the terms of the said Section 2.3.

     D. Without any admission of liability by either Ascot or WGI, on the terms and subject to the
conditions set forth in this Agreement, Ascot and WGI have agreed to enter into this Agreement to
resolve each and every dispute that has arisen and is existing between them, or that may
subsequently arise, related to or in connection with the adjustment to the Closing Purchase Price
under Section 2.3 of the SPA.

     E. In connection with the SPA, Ascot, WGI and WISNL entered into a Transition Services
Agreement dated 7th February, 2007 (the “TSA”).

     F. Ascot, WGI and WISNL have had discussions relating to the rescheduling of payments under
the TSA and other items of mutual cooperation.

     G. WGI is the indirect parent company of WISNL and Berkeley is the parent company of Ascot.

 

     H. The Parties have also reached certain other agreements in connection with the SPA, the TSA
and other matters.

     NOW, THEREFORE, in consideration of the premises and the mutual promises and covenants of the
Parties contained in this Agreement, the Parties hereby agree as follows:

	1.	 	SPA Matters.

	 	(a)	 	WGI agrees to pay to Ascot in the manner set out in paragraph 1(a)(i) below and on
the following terms and conditions, the sum of US$25,000,000 (the “Settlement Amount”)
being the amount by which WGI and Ascot have agreed to adjust the Closing Purchase Price
pursuant to the provisions of Section 2.3(c)(ii) of the SPA:

	 	(i)	 	The Settlement Amount shall be credited to the account of Ascot as
follows: (A) first, to amounts currently due from Ascot to WISNL under the TSA up
to US$6,633,621; (B) next, to the amount of US$2,625,000 still owing under the
Promissory Note dated February 7, 2007, of Ascot in favor of WGI (said note having
an original principal amount of US$6,718,228) (the “Promissory Note”), even if the
credit results in a prepayment of the Promissory Note; and (C) the remaining
balance of the Settlement Amount to be paid by WGI by wire transfer into an account
designated by Ascot not later than three business days after the later of (i)
execution of this Agreement by all Parties or (ii) the date on which the letters of
credit have been released or backstopped in accordance with paragraph 1(a)(ii)
below.
	 
	 	(ii)	 	In consideration of the Parties’ agreement on the Settlement Amount,
Ascot shall take all necessary steps to ensure that the letters of credit, as set
forth below, are either canceled by Calyon New York Branch, or backstopped by the
issuance of corresponding letters of credit, such backstop letters of credit to be
in form and substance, and from a non-Nigerian, first class bank(s), acceptable to
WGI:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	LETTER OF
	 	BENEFICIARY
	 	PROJECT NAME
	 	EXPIRY DATE
	 	     BALANCE

	 

	 	CREDIT NUMBER	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	433536016
	 	Mobil Producing

Nigeria
	 	EAP-EPC4 Sub Project
	 	08/31/2008
	 	US$	13,793,839	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	433536017
	 	Mobil Producing
Nigeria
	 	EAP-EPC4 Sub Project
	 	08/31/2008
	 	 	5,965,552	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	521636018
	 	Cameron Offshore

Systems
	 	Erha North
	 	02/28/2009
	 	 	123,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	508736003
	 	West African Gas

Pipeline Company

Ltd
	 	WAGP
	 	12/19/2007
	 	 	440,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	TOTAL
	 	US$	20,322,391	 

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	 	(iii)	 	As consideration for the release and/or backstopping of the letters of
credit described in paragraph 1(a)(ii) above, WGI shall waive its right to be
reimbursed for the fees and expenses of those letters of credit under the TSA
through December 31, 2007.
	 
	 	(iv)	 	Ascot undertakes that it shall use all funds received from WGI under
this Agreement solely in connection with the business of the Company and its
subsidiaries.
	 
	 	(v)	 	Notwithstanding anything set forth in this Agreement, in no event shall
WGI have an obligation to make any payment to Ascot under this Agreement, or
otherwise, if, at the time such payment is due and payable to Ascot, WGI’s
obligations pursuant to the parent company guaranties dated December 22, 2004 and
December 5, 2006, issued by WII and WGI respectively, in connection with the West
African Gas Pipeline Contract No. 79110-031 (the “WAGP Contract”) (the “Parent
Guaranties”) have become effective upon the contractor’s breach of the WAGP
Contract, and/or WII/WGI have been called upon to perform any of the contractor’s
obligations thereunder by West African Gas Pipeline Company Limited. In such
event, Ascot and WGI shall cooperate in a concerted effort to avoid either WII or
WGI incurring any loss under the Parent Guaranties, and/or having to perform any of
the contractor’s obligations under the WAGP Contract.

	 	(b)	 	Ascot and WGI hereby agree that all of their respective rights and obligations
under Section 6.1(a) of the SPA are terminated and shall be of no further force or effect
upon the payment of the Settlement Amount in accordance with paragraph 1(a) above.
	 
	 	(c)	 	Ascot and WGI hereby agree that this Agreement constitutes a full, final and
complete settlement of any and all obligations, payments and disputes between Ascot and
WGI under or in relation to the adjustment to the Closing Purchase Price as provided
under Section 2.3 of the SPA and the indemnification provisions of Section 6.1(a) of the
SPA. Upon the payment of the Settlement Amount in accordance with paragraph 1(a) above,
each of Ascot and WGI hereby irrevocably and completely releases, acquits and forever
discharges the other and such other Party’s respective Affiliates and related persons
from any and all past, present and future, known and unknown, claims, demands,
obligations, liabilities, causes of action, rights and any other claim for damages,
costs, loss of profit, loss of revenues, consequential damages, incidental damages,
expenses and compensation of any nature whatsoever, which Ascot and/or WGI now have, or
may have, on account of, or in any way growing out of or arising in connection with (i)
any adjustment to the Closing Purchase Price as provided under Section 2.3 of the SPA, or
(ii) the indemnification provisions of Section 6.1(a) of the SPA.

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	 	(d)	 	Ascot and WGI hereby acknowledge that the Closing Purchase Price has been finally
adjusted downward by the Settlement Amount and that the Purchase Price is the sum of
US$130,250,000.
	 
	 	(e)	 	Ascot and WGI hereby acknowledge and agree that this Agreement is entered into as a
concessionary act to amicably resolve all disputes between Ascot and WGI in connection
with adjustments to the Closing Purchase Price under the SPA. It is further agreed and
acknowledged that the execution of this Agreement shall not be construed as an admission
of liability on the part of either Ascot or WGI.

	2.	 	TSA Matters.

	 	(a)	 	WGI and WISNL agree that, notwithstanding the payment schedule set forth in the
TSA, no payments will be due from Ascot under the TSA until September 1, 2007, except for
the application of a portion of the Settlement Amount under paragraph 1(a)(i)(A) above.
WGI and WISNL shall not have the right to terminate the TSA for nonpayment until
September 1, 2007. Thereafter, the termination rights of WGI and WISNL shall be as set
forth in the TSA.
	 
	 	(b)	 	On or before September 1, 2007, Ascot shall pay to WISNL or WGI, as applicable, all
amounts that are due as of that date in accordance with the terms of the TSA and that
have not previously been paid or otherwise satisfied, including the amount referred to in
paragraph 1(a)(i)(A) above if such amount has not been paid by application of the
Settlement Amount in accordance with said paragraph.
	 
	 	(c)	 	On or before July 31, 2007, WGI and Ascot shall use their best endeavors to
finalize the appraisals for certain equipment owned by Ascot and currently held on
various sites in Nigeria and the appraisal of certain equipment owned by WGI or its
subsidiaries and currently held on various sites in Nigeria and under rental to Ascot
pursuant to the terms of the TSA. On or before August 15, 2007, WGI and Ascot agree to
use their best endeavors to finalize the determination of the amount owed by Ascot to WGI
for either equipment rental through July 31, 2007, for items of equipment that are, or
equipment purchase for items of equipment that were, on lease from Pipeline Machinery
International, LP (“PLM”) as described in the SPA — which rental amount is estimated to
be less than US$2,500,000 through June 30, 2007. Ascot shall pay to WGI or its designee
the amount so determined on September 1, 2007, less any amounts already paid by Ascot to
WGI in respect of such rentals. On or before September 1, 2007, WGI and Ascot agree to
use their best endeavors to finalize the purchase price of equipment currently owned by
Ascot which Ascot desires to sell and WGI desires to purchase. The amount of such agreed
purchase price for the purchase of equipment by WGI from Ascot will be applied to amounts
owed to WISNL or WGI under the TSA, in diminution of such amounts owed, with any excess
amount being paid to Ascot on the later of (i) September 1, 2007, or (ii) the date on
which the equipment purchased by WGI from Ascot has been shipped to Houston, Texas, or
any other location so designated by WGI, and has left Nigerian waters.

4

 

	 	(d)	 	The Parties agree that, for security and cost containment purposes, on or before
August 1, 2007, personnel under the TSA will be reduced to reflect Ascot’s and their
subsidiaries’ currently reduced operating requirements in Nigeria with Ascot causing
substantially all such seconded personnel to be released and/or hired as employees of
Ascot or one of its subsidiaries. Ascot shall continue to make the security of all WGI
and WISNL personnel its highest priority.

	3.	 	Promissory Note. Except as specifically set forth in this Agreement, Ascot’s obligations
under the Promissory Note shall continue in full force and effect in accordance with the terms
of the Promissory Note.
	 
	4.	 	Security Interest. In order to secure any payments which may become due from Ascot to WGI
and WISNL under the TSA as modified by this Agreement, Ascot hereby grants to WGI and WISNL a
security interest in any payments which Ascot or any of its subsidiaries may receive or to
which Ascot or any of its subsidiaries may become entitled in respect of the current
arbitration with Shell Petroleum Development Company relating to Contract No. E-00615 —
Provision of Major Dredging Services. Ascot shall execute, and shall cause its subsidiaries
to execute, any documents and instruments reasonably requested by WGI or WISNL in order to
confirm and perfect such security interest. WGI and WISNL shall release said security
interest once accounts are settled between the parties in accordance with paragraph 2(b)
above; however, under no circumstance will the security interest be released until any and all
such amounts owed to WGI and WISNL are paid in full.
	 
	5.	 	Project Contract Responsibility and Mutual Cooperation. Ascot acknowledges and agrees that,
upon the Closing, Ascot and its subsidiary companies became solely and completely responsible
for the administration and performance of, and all liabilities under, all Company Contracts.
Notwithstanding this transfer of responsibility for Company Contracts under the SPA, WGI
agrees to continue to provide counsel to Ascot under the terms of the TSA in relation to
positions to be taken with Ascot’s clients under such Company Contracts, including the
provision of select personnel as appropriate for that purpose. Likewise, WGI and Ascot shall
cooperate with each other in approaching clients of Ascot and its subsidiaries, with Ascot
taking the lead, in order to obtain the release of letters of credit and parent company
guarantees provided by WGI and its Affiliates, in particular in connection with Project EPC4A
(Contracts 4018 and 4019) and the WAGP Contract.
	 
	6.	 	Olero Case Coordination — Liability for the claims made against the Willbros parties in
Cause No. 2004-29270; Shelly Fowler, et al v. Chevron Texaco Overseas Petroleum, et al; In the
189th Judicial District Court of Harris County, Texas (“Olero Death Litigation”)
remains with WGI, who has paid $2.1 million (“Settlement Funds”) to settle all claims,
including claims made against Willbros West Africa, Inc. (“WWA”) and Willbros (Nigeria)
Limited (“WNL”). A dispute regarding insurance coverage for the Olero Death Litigation has
arisen (the “Insurance Dispute”) and a suit was filed on January 3, 2007 in the United States
District Court for the Southern District of Texas, Houston Division styled Lexington Insurance
Company v. Willbros Group, Inc, et al, Civil Action No. 4:07-CV-0056;

5

 

	 	 	service of this suit was effected on WWA and WNL in June 2007. WGI acknowledges that
liability for this suit, the Insurance Dispute, and any subsequent suits regarding the
Insurance Dispute remain with WGI. Ascot, WISNL and Berkeley acknowledge that (a) they have
no interest in the Insurance Dispute and that any appearances and responses to any lawsuits
pertaining to the Insurance Dispute shall be made by WGI and/or Willbros USA, Inc. on behalf
of WWA and WNL, and (b) that, as provided for in Section 5.8 of the SPA, they will provide WGI
with access to documents, if needed, and cooperate with WGI or Willbros USA, Inc. in resolving
the Insurance Dispute.
	 
	7.	 	Amendments to SPA and TSA. The SPA and the TSA shall be deemed to be amended as necessary or
appropriate for all of the agreements set forth in this Agreement to be effective. Any
dispute hereunder shall be determined pursuant to Section 7.1 of the SPA, which is
incorporated herein. Except as expressly set forth in this Agreement, the SPA and the TSA
shall continue in full force and effect in accordance with their terms. For the avoidance of
doubt the Parties acknowledge and agree that: (i) the Indemnity Agreement made and entered
into as of February 7, 2007 by and among WGI, WII, Ascot and Berkeley remains in full force
and effect, unmodified by this Agreement and (ii) Section 5.5 of the SPA and Section 5 of the
TSA remain in full force and effect, including for all purposes related to this Agreement.
All notices and other communications given under this Agreement shall be given and shall be
effective in accordance with the terms of the SPA or the TSA, as applicable.
	 
	8.	 	Confidentiality. The Parties agree to keep the terms and conditions of this Agreement in
confidence, and no Party shall disclose to anyone, other than that Party’s Affiliates,
officers, employees, lenders and advisors, any of the terms or conditions of this Agreement,
except as may be mutually agreed to in writing or otherwise as required by law, securities
regulations or stock exchange rules.
	 
	9.	 	Binding Agreement; No Assignment. The Parties agree that this Agreement shall be binding on
the Parties and their respective legal representatives, successors and assigns. No Party may
assign any of its rights or obligations under this Agreement without the prior written consent
of the others.
	 
	10.	 	Authorization. Each individual executing this Agreement on behalf of a Party represents that
he/she has been fully empowered and authorized by such Party to execute this Agreement and
that all necessary action to authorize execution of this Agreement by him/her has been taken
by such Party. Berkeley hereby agrees to guarantee unconditionally the performance by Ascot of
Ascot’s obligations under this Agreement.
	 
	11.	 	Counterparts. This Agreement may be executed in multiple counterparts, each of which shall
be deemed an original for all purposes, but all of which together shall constitute one and the
same instrument.
	 
	12.	 	Entire Agreement. This Agreement constitutes the entire agreement with respect to the
subject matter hereof and supersedes any and all prior agreements with respect thereto. This
Agreement may be amended by the Parties at any time only be a written instrument signed by
each of the Parties.

6

 

	13.	 	Governing Law. This Agreement shall be governed by and construed in accordance with the laws
of England without giving effect to the conflict of laws rules thereof.

IN WITNESS WHEREOF, the Parties have executed this Agreement as a deed by their duly authorised
representatives as of the day and year first stated above.

	 	 	 	 	 	 	 	 	 
	Ascot Offshore Nigeria Limited	 	 
	 	Willbros Group, Inc.
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Henry Efe Imasekha 	 	 	 	By:	 	/s/ Gay S. Mayeux 
	 

	 	 

Henry Efe Imasekha
	 	 	 	 	 	 

Gay S. Mayeux
	 

	 	Chairman
	 	 	 	 	 	Attorney-in-Fact
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Berkeley Group Plc	 	 	 	Willbros International Services
	 	 	 	 	 	 	(Nigeria) Limited
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Henry Efe Imasekha 	 	 	 	By:	 	/s/ Gay S. Mayeux 
	 

	 	 

Henry Efe Imasekha
	 	 	 	 	 	 

Gay S. Mayeux
	 

	 	Chairman
	 	 	 	 	 	Attorney-in-Fact

7exv10w2

 

Exhibit 10.2

AGREEMENT TO TERMINATE

CONSULTING SERVICES AGREEMENT

     THIS AGREEMENT TO TERMINATE CONSULTING SERVICES AGREEMENT (“Agreement”) is made and entered
into as of September 11, 2007, by and between WILLBROS USA, INC. (“Willbros”) and MICHAEL F. CURRAN
(the “Consultant”).

WITNESSETH:

     WHEREAS, Willbros and the Consultant entered into a Consulting Services Agreement on December
29, 2006 (the “Consulting Services Agreement”);

     WHEREAS, Willbros and the Consultant have decided to terminate the Consulting Services
Agreement; and

     WHEREAS, Willbros and the Consultant wish to achieve a final and amicable resolution of all
issues related to their consulting relationship;

     NOW, THEREFORE, for and in consideration of the mutual covenants and promises set forth below,
as well as other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:

     1. Termination of Agreement and Relationship. Effective September 11, 2007 (the
“Effective Date”), Willbros and the Consultant agree that the Consulting Services Agreement is
terminated and that neither of them shall have any further rights or obligations under the
Consulting Services Agreement. Except as set forth in this Agreement, the termination of the
Consulting Services Agreement shall not affect any rights or obligations that Willbros or the
Consultant have under any other agreements including, but not limited to, that certain Separation
Agreement and Release entered into by and between Willbros and the Consultant on December 21, 2006
(the “Separation Agreement”).

     2. Continuation of Payments. In consideration of the Consultant’s agreement to
terminate the Consulting Services Agreement, Willbros shall:

     a. Pay the Consultant Twelve Thousand Five Hundred U.S. Dollars (U.S.$12,500.00) per
month at the end of each calendar month from the Effective Date until the final payment is
made as of December 31, 2008;

     b. Until December 31, 2008, pay or reimburse Consultant for those expenses for which he
was being reimbursed under the Consulting Services Agreement, including club and
organizational fees; and

     c. Until December 31, 2008, make available to the Consultant off-site and without
charge, office space, office equipment, secretarial assistance, parking, communications
equipment (including a Blackberry/cell phone the same or equivalent to the

 

 

Agreement to Terminate

Consulting Services Agreement

11th September 2007

Page 2

 

smartphone) and storage space, in each case separate from Willbros but comparable to
that enjoyed by the Consultant under the Consulting Services Agreement. Insofar as
secretarial assistance is concerned, Consultant has requested that his long time assistant,
Ms. Darlene Long, remain available off-site to support Consultant full-time at his new
office location in Houston. Accordingly, provided Ms. Long is willing, Willbros agrees to
maintain Ms. Long on the Willbros payroll as an employee through the end of 2008 for the
purpose of providing transitional secretarial services and administrative support off-site
to the Consultant through to the end of 2008. Additionally, provided that Ms. Long
completes this transitional support service role for the Consultant through December 31,
2008, Willbros agrees to pay Ms. Long a six months severance benefit in recognition of her
many years of accredited service to the Consultant and Willbros, collectively. Should Ms.
Long decline to continue working with the Consultant at any point, a suitable substitute
support arrangement will be agreed between the Consultant and Willbros.

     3. Group Medical Plan. Under the Separation Agreement the Consultant, as a consultant
to Willbros, is eligible to participate and is participating in the Group Medical Plan maintained
by Willbros. Willbros and the Consultant acknowledge and agree that the termination of the
Consulting Services Agreement and of the relationship of the Consultant as a consultant to Willbros
will end the Consultant’s eligibility to participate in such Group Medical Plan as a consultant.
Should the Consultant elect, under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), to
continue to participate in such Group Medical Plan after the Effective Date, Willbros shall pay
Five Hundred Twenty-Five U.S. Dollars (U.S. $525.00) per month through December 31, 2008, of the
cost of the Consultant to continue such participation, which is the difference between the
Consultant’s monthly premium payment as a participant in the Group Medical Plan and the required
monthly COBRA premium.

     4. Taxes. Consultant will pay, be fully responsible for and indemnify Willbros and
its affiliates against all taxes attributable to the amounts payable to or for the benefit of
Consultant hereunder, including, without limitation, income, unemployment, social security and
Medicare taxes.

     5. Resignations. Effective the Effective Date, without further action other than his
execution of this Agreement, Consultant resigns as the Chairman of the Board of Directors and as a
member of the Board of Directors of Willbros Group, Inc. (“WGI”).

     6. Indemnification. Willbros will continue to indemnify Consultant against any
liability which arises as a result of Consultant’s provision of services under the Consulting
Services Agreement, provided such liability is not attributable to Consultant’s gross negligence,
willful misconduct or failure to comply with the provisions of the Consulting Services Agreement;
provided, however, the limit of Consultant’s liability toward Willbros under the Consulting
Services Agreement shall not exceed, in the aggregate, the accumulated amounts paid to the
Consultant under this Agreement and the Consulting Services Agreement, save and except of willful
misconduct which will not be subject to any limitation.

 

 

Agreement to Terminate

Consulting Services Agreement

11th September 2007

Page 3

 

     7. Confidentiality. Until December 31, 2008, except with Willbros’ prior written
consent or as otherwise required by law, Consultant will hold in confidence, not disclose to any
other person or entity or use for Consultant’s own personal benefit or the benefit of any other
person or entity all information regarding Willbros, its affiliates, their respective employees,
and the business activities conducted by Willbros or its affiliates which Consultant obtained or
became aware of during the course of providing services under the Consulting Services Agreement,
unless such information has become publicly available other than as a result of a breach of this
Agreement by Consultant.

     8. Solicitation of Employees. Before January 1, 2009, Consultant will not seek to
employ or assist any other enterprise or entity with an effort to employ any employee of Willbros
or its affiliates.

     9. Notices. Any notice required or permitted to be given under this Agreement shall
be in writing and shall be effective upon delivery to the party at the party’s address or facsimile
number stated herein. Either party may change such party’s address stated herein by giving notice
of the change in accordance with this Paragraph 9.

	 	 	 	 	 
	If to Willbros:	 	Willbros USA, Inc.
	 	 	4400 Post Oak Parkway
	 	 	Suite 1000
	 	 	Houston, Texas 77027
	 

	 	Facsimile:
	 	(713) 403-8074
	 

	 	Attention:
	 	John (Jay) T. Dalton
	 

	 	 	 	Senior Vice President & General Counsel
	 
	 	 	 	 
	If to Consultant:	 	Michael F. Curran
	 	 	2207 Del Monte
	 	 	Houston, Texas 77019
	 	 	Facsimile: (713) 523-3586

     10. Prior Rights. Nothing in this Agreement shall affect any of Consultant’s rights
or obligations with respect to indemnification or director and officer liability insurance coverage
to which Consultant is entitled or subject in his capacity as a former director and officer of
Willbros, a former officer of WGI, a former Class III non-employee director of WGI or a former
officer or director of certain WGI affiliates.

     11. Governing Law. This Agreement shall be governed and construed in accordance with
the laws of the State of Texas, United States of America, excluding any conflict of law or other
provision referencing the laws of another jurisdiction.

 

 

Agreement to Terminate

Consulting Services Agreement

11th September 2007

Page 4

 

     12. Entire Agreement and Waiver. This Agreement constitutes the entire agreement
between the parties hereto with respect to the subject matter hereof and supersedes any other
understanding entered into by or on account of the parties with respect to the subject matter
hereof to the extent inconsistent herewith. This Agreement may not be changed, modified or amended
except in writing signed by the parties hereto. The failure of either party to exercise any rights
under this Agreement for a breach thereof shall not be deemed to be a waiver of such rights or a
waiver of any subsequent breach.

     13. Facsimile Signatures; Counterparts. This Agreement may be executed by facsimile
and in multiple counterparts each of which shall be deemed an original and all of which taken
together shall be but a single instrument.

     14. Authorization. Each person signing this Agreement as a party or on behalf of a
party represents that he or she is duly authorized to sign this Agreement on such party’s behalf,
and is executing this Agreement voluntarily, knowingly, and without any duress or coercion.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written.

	 	 	 	 	 	 	 
	CONSULTANT	 	 
	 	WILLBROS
	 
	 	 	 	 	 	 
	 	 	 	 	Willbros USA, Inc.
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	/s/
Michael F. Curran 

 

Michael F. Curran

	 	 	 	By:
	 	/s/ Dennis G. Berryhill 

 

Dennis G. Berryhill

Vice President and Secretary

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