Document:

Amended and Restated Employment Agreement, dated as of April 30, 2004

 Exhibit 10.6 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 This
AMENDED AND RESTATED AGREEMENT made as of the 30th day of April, 2004 by and between CRAIG S. KIEFER, an individual residing at 415 Carriage Creek Lane, Friendswood, TX 77546 (the “Executive”), EDGEN CARBON PRODUCTS GROUP,
L.L.C., a Louisiana limited liability company (the “Company”), and EDGEN CORPORATION, a Nevada corporation (“Parent”). 
 W I T N E S S E T H 
 WHEREAS, the Executive serves as the President of the
Company, which is a wholly-owned subsidiary of Parent, pursuant to an Employment Agreement, dated April 3, 2002 (the “Prior Agreement”), by and between the Company and the Executive; 
 WHEREAS, Parent and the Company seek to utilize the Executive’s knowledge, experience, talents and abilities; Parent and the Company
desire to employ the Executive as the President of the Company, and the Executive desires to be so employed, subject to the terms and conditions set forth herein; and 
 WHEREAS, the Executive and the Company wish to amend and restate the Prior Agreement in its entirety in accordance with the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and agreements herein contained, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby amend and restate the Prior Agreement as follows: 
 1. Employment. Subject to the terms and conditions hereinafter set forth, the Company and Parent hereby agree to employ the Executive, and the Executive hereby agrees to serve as the
President of the Company, effective on April 30, 2004. The Executive agrees to perform such services customary to such office as shall from time to time be assigned to him by the Board of Directors of Parent (the “Board of
Directors”) and/or by Parent’s Chief Executive Officer, or his designee (collectively the “Chief Executive Officer”). The Executive further agrees to use his best efforts to promote the interests of the Company and of
Parent, and to devote his full business time and entire energies and skill to the business and affairs of the Company and of Parent in accordance with the directions and orders of the Board of Directors and/or the Chief Executive Officer;
provided, however, that it shall not be a violation of this Agreement for the Executive to serve on corporate, civic, or charitable boards or committees or manage personal investments, as long as such activities do not interfere in any
substantial respect with the Executive’s responsibilities hereunder. 
 2. Term of Employment. The
Executive’s “Employment Term” pursuant to this Agreement shall commence on the date hereof (the “Effective Date”) and, unless terminated earlier pursuant to Section 4 hereof, shall terminate upon the first
anniversary of the Effective Date; provided, however, that the Employment Term shall automatically be extended on a day-by-day basis (so that the remaining taint shall always be one (1) year) unless either the Company or the Executive
elects not to renew such term by giving written notice (an “Employment Expiration Notice”) thereof; provided, further, however, that if the Executive is terminated pursuant to Section 4 below, there shall be no automatic
daily renewal of the Employment Term. The Employment Term shall terminate on the one (1) year anniversary of the date of receipt of the Employment Expiration Notice by the Employee or the Employer, as applicable. 
 3. Compensation and Other Related Matters.
 3.1. Base Salary. As compensation for the services rendered by the Executive hereunder, the Company shall
pay, or shall cause to be paid, to the Executive during the Employment Term, and the Executive shall accept, compensation at the rate of One Hundred Eighty Thousand Dollars ($180,000.00) per annum (the “Annual Base Salary”). The
Company’s obligation to pay the Annual Base Salary shall begin to accrue on the Effective Date and shall be paid in accordance with the

 
Company’s customary payroll practices which are in effect from time to time during the Employment Term. The Annual Base Salary may be increased at any time during the Employment Term by
recommendation of the Chief Executive Officer to the Board of Directors. The Executive’s Annual Base Salary shall be subject to all applicable withholding and other taxes. 
 3.2. Annual Bonus. In addition to the Annual Base Salary set forth above, during the Employment Term, the
Executive shall be entitled to receive an annual bonus (the “Annual Bonus”) in the amount and calculated in the manner set forth on Schedule A annexed hereto. The Annual Bonus shall be payable by the Company to the Executive
with respect to each year ending on December 31 by March 15 of the following year. 
 3.3. Other Employment Benefits. During the Employment Term, the Executive shall be entitled to the following employment benefits: 
 (a) Four (4) weeks of paid vacation in each fiscal year of the Company while the Executive is employed hereunder one (1) week of which, if not used by the Executive in any given fiscal
year, may be carried over to the next fiscal year; provided, that the Executive shall not have more than five (5) weeks of paid vacation in any given fiscal year as a result of such carry over and sick leave in accordance with the
Company’s policies from time to time in effect for executive officers of the Company; provided, that, as provided herein, vacation and/or sick leave time not used in any year may not be carried over or transferred from one year to another or
converted to cash, except in a year in which there is a Change of Control (as hereinafter defined) where the Executive is no longer employed; 
 (b) participation, subject to qualification requirements, in medical, life or other insurance or hospitalization plans and long-term disability policies which are presently in effect or hereafter
instituted by the Company and applicable to its executive officers generally; provided that, the Company shall pay all premium, copayment and deductible expenses of the Executive in respect of such Company plans and policies; 
 (c) participation, subject to classification requirements and continued maintenance thereof by the Company in other
employee benefit plans, such as pension and profit sharing plans, which are from time to time applicable to the Company’s executive officers generally; and 
 (d) an automobile allowance of One Thousand Dollars ($1,000) per month, which shall be used by the Executive to cover
all lease and insurance payments with respect to one automobile of the Executive’s choice for business purposes. The Company shall reimburse the Executive, upon the presentation of appropriate receipts, for all maintenance, repair and gasoline
costs incurred by the Executive in connection with the use of such automobile; provided, that such costs are directly related to the performance by the Executive of his obligations to the Company hereunder. 
 3.4. Expenses. During the Employment Term, the Executive shall be entitled to receive prompt reimbursement
from the Company of all travel, entertainment and out-of-pocket expenses which are reasonably and necessarily incurred by the Executive in the performance of his duties hereunder; provided that the Executive properly accounts therefor in accordance
with the Company’s policies as in effect from time to time and such expenses are approved by the Chief Executive Officer. 
 4. Termination.
 4.1. Disability. In the event that at any time during the
Employment Tem’, the Executive, due to physical or mental injury, illness, disability or incapacity, including “disability” within the meaning of the disability plan(s) which the Company then has in effect entitling the Executive to
benefits thereunder (“Disability”), shall fail to perform satisfactorily and continuously the duties assigned to him and the services to be performed by him hereunder for a period of three (3) consecutive months or for a
non-consecutive period of five (5) months within any twelve

  

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(12) month period, the Company may terminate his employment for Disability upon not less than thirty (30) days prior written notice by delivery of a Termination Notice (as defined
below) to the Executive. 
 4.2. Death. The Executive’s employment shall terminate
immediately upon the death of the Executive. 
 4.3. Cause. The Company may, at any time and in
its sole discretion, terminate the Executive’s employment for Cause (as herein defined) by delivery to the Executive of a Termination Notice specifying the nature of such Cause, effective as of the date (such effective date referred to herein
as a “Termination Date”) of such Termination Notice. For purposes hereof, termination for “Cause” shall mean (i) a conviction of, a plea of nolo contendere, a guilty plea or confession by the Executive
to an act of fraud, misappropriation or embezzlement or to a felony; (ii) the commission of a fraudulent act or practice by the Executive affecting the Company and/or Parent; (iii) the willful failure by the Executive to follow the
directions of the Board of Directors or the Chief Executive Officer; (iv) the Executive’s habitual drunkenness as determined in the reasonable discretion of the Board of Directors or use of illegal substances; (v) the material breach
by the Executive of this Agreement or (vi) an act of gross neglect or gross or willful misconduct that relates to the affairs of the Company and/or Parent which the Board of Directors of the Company in its reasonable discretion deems to be good
and sufficient cause; provided, that the Executive shall receive a Termination Notice with respect to a termination for Cause pursuant to subsections (iii), (v) and/or (vi) hereof and the Executive shall have the thirty (30) days
following his receipt of the Termination Notice to cure the breach specified therein prior to his employment being terminated for Cause pursuant thereto. 
 4.4. Voluntary Termination by Company. The Company may, at any time, and in its sole discretion, terminate the employment of the Executive hereunder for any reason other than for Cause by
the delivery to the Executive of a Termination Notice, effective as of the date of such Termination Notice. 
 4.5. Termination by Company in Conjunction with a Change of Control. For purposes of this Agreement, a “Change of Control” means the sale of Parent whether by, merger, consolidation, recapitalization,
reorganization, sale of securities, sale of assets or otherwise in one transaction or a series of related transactions to a person or persons (other than to Harvest Partners III, L.P. or to any person, persons or entities affiliated therewith),
pursuant to which such person or persons (together with its affiliates) acquires (i) securities representing at least a majority of the voting power of all securities of Parent, including securities convertible, exchangeable or exercisable for
or into voting securities of Parent, assuming the conversion, exchange or exercise of all securities convertible, exchangeable or exercisable for or into voting securities or (ii) all or substantially all of the consolidated assets of Parent.
The Company may terminate the employment of the Executive hereunder in conjunction with any Change of Control in accordance with Section 5.6 hereof by delivery to the Executive of a Termination Notice (as defined above), effective as of the
date stated in the Termination Notice. 
 4.6. Executive’s Resignation for Good
Reason. After a Change of Control, the Executive may terminate his employment for Good Reason in accordance with Section 5.6. For purposes hereof, “Good Reason” shall mean, without the Executive’s consent: (i) the
assignment to the Executive of any duties inconsistent in any material respect with the Executive’s position (including status, offices, duties and reporting relationships), authority, duties or responsibilities as contemplated by
Section 1 hereof, or any other action by the Company which results in a significant diminution in such position, authority, duties, or responsibilities, excluding any isolated and inadvertent action not taken in bad faith and which is remedied
by the Company within ten (10) days after receipt of notice thereof from the Executive; (ii) any failure by the Company to comply with any of the

  

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provisions of Section 3 hereof other than an isolated and inadvertent failure not committed in bad faith and which is remedied by the Company within ten (10) days after receipt of
notice thereof from the Executive; (iii) the Executive’s being required to relocate to a principal place of employment more than fifty (50) miles from his principal place of employment with the Company as of the Effective Date or
(iv) delivery by the Company of a notice discontinuing the automatic extension provision of Section 2 hereof. 
 5. Compensation During Disability and Upon Termination. During a Disability Period (as herein defined) or upon the termination of the Executive’s employment hereunder, the Executive shall be entitled to the following
benefits: 
 5.1. Disability. During any period (the “Disability Period”) that
the Executive, due to Disability fails to perform satisfactorily and continuously the duties assigned to him and the services to be performed by him hereunder, the Company shall continue to pay to the Executive the Annual Base Salary (as in effect
at such time) in accordance with the provisions of Section 3.1 hereof, less any compensation payable to the Executive under the applicable disability insurance plan(s) of the Company during such Disability Period. Thereafter, if the
Executive’s employment hereunder is terminated pursuant to Section 4.1 hereof; the Company shall have no further obligations hereunder after the Termination Date other than the payment of (a) the Annual Base Salary (as in effect
during the year of such termination) payable in accordance with the Company’s customary payroll practices (less any compensation payable to the Executive under the applicable disability insurance plan(s) of the Company), for the twelve
(12) month period immediately following the Termination Date and (b) the Executive’s pro rata portion of the Annual Bonus due pursuant to Section 3,2 hereof for the calendar year in which such termination occurs (based upon the
number of days during such year that the Executive was employed over 365 days prior to termination), payable on the same date as such Annual Bonus would have been payable for such year pursuant to Section 3.2 hereof had the Employment Term
not been so terminated. 
 5.2. Death. If the Executive’s employment is terminated pursuant
to Section 4.2 hereof as a result of the Executive’s death, the Company shall have no further obligations hereunder after the date of the Executive’s death other than the payment to the Executive’s estate, legal representative,
heirs or other beneficiaries of (a) the Annual Base Salary (as in effect during the calendar year of such death) payable in accordance with the Company’s customary payroll practices, for the twelve (12) month period immediately
following the date of the Executive’s death, and (b) the Executive’s pro rata portion of the Annual Bonus due pursuant to Section 3.2 hereof for the calendar year in which such death occurred (based upon the number of days during
such year that the Executive was employed over 365 days prior to death), payable on the same date as such Annual Bonus would have been payable for such year pursuant to Section 3.2 hereof had the Employment Term not been so terminated.

 5.3. Cause. If the Executive’s employment is terminated by the Company for Cause
pursuant to Section 4.3 hereof; the Company shall have no further obligations hereunder after the Termination Date other than the payment to the Executive of the Annual Base Salary accrued and unpaid through the Termination Date. The Company
shall not be obligated to make any bonus payments to the Executive pursuant to Section 3.2 hereof for the calendar year in which such termination occurs or to provide any of the benefits set forth in Section 3.3 of this Agreement after the
Termination Date, except as may be required by applicable law. 
 5.4. Voluntary Termination by
Company. If the Company voluntarily terminates the Executive’s employment hereunder pursuant to Section 4.4 hereof; the Company shall have no further obligations hereunder after the Termination Date other than the payment of
(a) (i) one (1) year of the Annual Base Salary (as in effect during the year of such termination) payable in accordance with the Company’s customary payroll practices, and (ii) at no greater out-of-pocket

  

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expense to the Company than incurred prior to termination, the Company-sponsored medical and health benefits (or the reimbursement of COBRA premiums) previously made available to the Executive,
but only to the extent permitted by such policies or plans, or as otherwise required by law, and (b) the Annual Bonus due pursuant to Section 3.2 hereof for the calendar year in which such termination occurs, payable on the same date as
such Annual Bonus would have been payable for such calendar year pursuant to Section 3.2 hereof had the Employment Term not been so terminated. 
 5.5. Termination by Executive. If at any time during the Employment Term, the Executive terminates his employment with the Company and Parent for any reason whatsoever other than Good
Reason pursuant to Section 4.6 hereof, the Company shall have no further obligations hereunder after the Termination Date other than the payment to the Executive of the Annual Base Salary accrued and unpaid through the Termination Date. The
Company shall not be obligated and shall be released from all obligations to make any bonus payments to the Executive pursuant to Section 3.2 hereof, if any, for the calendar year in which such termination occurs, or to provide any of the
benefits set forth in Section 3.3 of this Agreement after the Termination Date, except as may be required by applicable law. 
 5.6. Termination in Conjunction with a Change of Control. If (a) the Company terminates the employment of the Executive hereunder in conjunction with any Change of Control, pursuant
to Section 4.5 hereof; (b) the Company or any successor entity thereto terminates the employment of the Executive without Cause within six (6) months of any Change of Control; or (c) the Executive terminates his employment for
Good Reason within six (6) months of any Change of Control, the Company, or any successor entity thereto, shall have no further obligations hereunder after the Termination Date other than (i) the payment of one (1) year of the Annual
Base Salary (as in effect during the year of such termination) payable in accordance with the Company’s customary payroll practices; (ii) the payment of the Annual Bonus due pursuant to Section 3.2 hereof for the calendar year in
which such termination occurs, payable on the same date as such Annual Bonus would have been payable for such calendar year pursuant to Section 3.2 hereof had the Employment Term not been so terminated; provided, however, the Annual Bonus for
the calendar year in which such termination occurs, shall be pro rated, based on the number of days the Executive was employed (less any Disability Period) over 365 days; and (iii) at no greater out-of-pocket expense to the Company than
incurred prior to termination, the Company shall pay for twelve (12) months the premiums for Company-sponsored medical and health benefits (or the reimbursement of COBRA premiums) previously made available to the Executive, but only to the
extent permitted by such policies or plans, or as otherwise required by law; however, if the Executive becomes eligible for coverage under any other medical and health policy after termination of employment, or is, or becomes covered by any other
medical and health policy the Company’s obligation to pay the premiums due by the Executive for Company-sponsored medical and health benefits shall cease immediately. Notwithstanding the foregoing, in the event that the Executive, or any of his
Affiliates (as defined below), participates in any Change of Control transaction as an equity participant and/or as a purchaser of securities or assets and, immediately after the consummation of the Change of Control transaction remains, or within
six (6) months of such transaction, becomes actively involved in the operation of the Company, Parent or any successor entity thereto as an officer, director or employee, the provisions of this Section 5.6 shall terminate and be of no
force or effect. An “Affiliate” shall mean an individual, a corporation, an association, a joint venture, a partnership, a limited liability company, an estate, a trust, an unincorporated organization and any other entity or organization,
governmental or otherwise that, directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with the Executive. 
  

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 6. Confidentiality. The Executive acknowledges that it is the policy of the
Company and Parent to maintain as secret and confidential all Confidential Information (as defined herein). The parties hereto recognize that the services to be performed by the Executive pursuant to this Agreement are special and unique, and that
by reason of his employment by the Company both before and after the Effective Date, the Executive will acquire, or may have acquired, Confidential Information. The Executive recognizes that all such Confidential Information is and shall remain the
sole property of the Company and Parent, as applicable, free of any rights of the Executive, and acknowledges that the Company and Parent have a vested interest in assuring that all such Confidential Information remains secret and confidential.
Therefore, in consideration of the Executive’s employment with the Employer pursuant to this Agreement, the Executive agrees that at all times from after the Effective Date, he will not, directly or indirectly, disclose to any person, firm,
company or other entity (other than Parent or any of its Affiliates (for the purposes of this Employment Agreement, the term “Affiliate(s)” means Parent, its successor(s), any direct or indirect subsidiary of Parent or its successor(s), or
any division of a subsidiary)) any Confidential Information, except as required in the performance of his duties hereunder, without the prior written consent of the Company or Parent, as applicable, except to the extent that (i) any such
Confidential Information becomes generally available to the public, other than as a result of a breach by the Executive of this Section 6, or (ii) any such Confidential Information becomes available to the Executive on a non-confidential
basis from a source other than Parent or any of its Affiliates or advisors; provided that such source is not known by the Executive to be bound by a confidentiality agreement with, or other obligation of secrecy to, the Parent, any of its Affiliates
or another party. In addition, it shall not be a breach of the confidentiality obligations hereof if the Executive is required by law to disclose any Confidential Information; provided that in such case, the Executive shall (a) give the Company
and/or Parent, as applicable, the earliest notice possible that such disclosure is or may be required and (b) cooperate with the Company and/or Parent, as applicable, at the Company’s and/or Parent’s expense, as applicable, in
protecting, to the maximum extent legally permitted, the confidential or proprietary nature of the Confidential Information which must be so disclosed. The obligations of the Executive under this Section 6 shall survive any termination of this
Agreement. During the Employment Term, the Executive shall exercise all due and diligent precautions to protect the integrity of the business plans, customer lists, statistical data and compilation, agreements, contracts, manuals or other documents
of the Company and/or Parent which embody the Confidential Information, and upon the expiration or the termination of the Employment Term, the Executive agrees that all Confidential Information in his possession, directly or indirectly, that is in
writing or other tangible form (together with all duplicates thereof) will forthwith be returned to the Company and/or Parent, as applicable, and will not be retained by the Executive or furnished to any person, either by sample, facsimile, film,
audio or video cassette, electronic data, verbal communication or any other means of communication. The Executive agrees that the provisions of this Section 6 are reasonably necessary to protect the proprietary rights of the Company and/or
Parent in the Confidential Information and their trade secrets, goodwill and reputation. 
 For purposes hereof, the term
“Confidential Information” means all information heretofore or hereafter developed or used by Parent or any of its Affiliates relating to the Business (as defined below), and the operations, employees, customers, suppliers and
distributors of Parent or any of its Affiliates, including, but not limited to, customer lists, customer orders, purchase orders, financial data, pricing information and price lists, business plans and market strategies and arrangements, all books,
records, manuals, advertising materials, catalogues, correspondence, mailing lists, production data, sales materials and records, purchasing materials and records, personnel records, quality control records and procedures included in or relating to
the Business or any of the assets of Parent and/or its Affiliates, and all trademarks, tradenames, copyrights and patents, and applications therefor, all trade secrets, inventions, processes, procedures, research records, market surveys and
marketing know-how and other technical papers of Parent and/or any of its Affiliates, except that notwithstanding anything to the contrary contained herein, the term Confidential Information shall not include any such information

  

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that is publicly known or that becomes publicly known (other than as a result of any action on the part of, or a breach of the provisions of this Section 6, by the Executive). 
 For purposes hereof, the term “Business” shall mean the business of (a) distributing and selling industrial steel
pipe, including large OD pipe, heavy wall and X-grade pipe, DSAW, seamless, continuous weld, ERW pipe and abrasive resistant pipe (mine pipe), and valves, alloy pipe, flanges and fittings, welded fittings and flanges (high yield, stainless, exotic
carbon, chrome and low temp) per ANSI B16.9 and B16.5 (commodity lines and specials, i.e., anchor flanges and swivel ring flanges) forged steel fittings, outlets, pipe nipples, swage nipples, hot induction bends and Pikotek gaskets/insulation kits,
stainless steel and other nickel alloy and hastelloy pipe, valves, fittings and flanges, including all chrome grades, (collectively, the “Products”); (b) providing added value services to such pipe and steel Products, including, flame
cutting, sawing, welding, sandblasting, priming, top coat painting, epoxy applications and end finishing, and conversion of pipe to other components or products; (c) entering into joint venture, partnership or agency arrangements relating to
the sale or distribution of surplus stainless steel pipe, fittings and flanges, but excluding value-added services if not sold as part of the Products; and (d) any endeavor entered into by Parent or any Affiliates after the signing of this
agreement, but before termination of the employment of the Executive. 
 7. Noncompetition;
Nonsolicitation. (a) The Executive agrees that, during the Employment Term and for the period during which the Executive receives compensation pursuant to Section 5.4 hereof (to the extent applicable), whichever is greater (such
period being referred to herein as the “Initial Noncompete Period”) (A) the Executive will not own or control any business that competes, directly or indirectly, with the Business or is otherwise engaged in activities competitive with
the Business, in each and every area where the Company is engaged in the sale and/or distribution of the Products (a “Competing Business”) on the date the Executive’s employment is terminated hereunder, including, without
limitation, the State of Texas and each and every parish throughout the State of Louisiana specified on Schedule B hereto, (B) the Executive will not, directly or indirectly, whether for himself or on behalf of any other person (or
affiliate), engage in, own, manage, operate, provide financing to, control or participate in the ownership, management or control of, or be connected as an officer, employee, partner, director, or otherwise with, or have any financial interest
(whether as a stockholder, director, officer, partner, consultant, proprietor, agent or otherwise) in, or aid or assist anyone else in the conduct of, any business, that competes, directly or indirectly, with the Business or is otherwise engaged in
activities competitive with the Business, in each and every area where the Company is engaged in the sale and/or distribution of the Products on the date the Executive’s employment is terminated hereunder, including, without limitation, the
State of Texas and each and every parish throughout the State of Louisiana specified on Schedule B hereto, or (C) the Executive will not, either personally or by his agent or by letters, circulars or advertisements, and whether for
himself or on behalf of any other person, company, firm or other entity, canvass or solicit, or enter into or effect (or cause or authorize to be solicited, entered into or effected), directly or indirectly, for or on behalf of himself or any other
person, any business relating to the sale and/or distribution of any Products from any person, company, firm or other entity, who is, or has at any time within two (2) years prior to the date of such action been a customer or supplier of the
Parent or any of its Affiliates, subsidiaries or divisions. It is agreed that for purposes of this Section 7(a), a Competing Enterprise is only a business entity in which the sale and/or distribution of the Products constitutes more than 5% of
that business and/or entity’s overall business revenues, and only such a Competing Enterprise shall be considered to “in any significant manner compete with” Parent or its Affiliates. Notwithstanding the foregoing, the
Executive’s ownership of securities of a public company engaged in competition with the Company not in excess of 5% of any class of such securities shall not be considered a breach of the covenants set forth in this Section 7(a) above.

 (b) The Executive agrees that, at all times from after the Effective Date and for (i) a period of
twelve (12) months following the date of termination of the Executive’s employment with Parent

  

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and the Company, or (ii) the period during which the Executive receives compensation pursuant to Section 5.4 hereof (to the extent applicable), whichever is greater, the Executive will
not, either personally or by his agent or by letters, circulars or advertisements, and whether for himself or on behalf of any other person, company, firm or other entity, (A) seek to persuade any employee of Parent or any of its Affiliates,
subsidiaries or divisions to discontinue his or her status or employment therewith or seek to persuade any employee or former employee to become employed or to provide consulting or contract services in a business or activities competitive with the
Business; or (B) solicit, employ or directly or indirectly cause to be solicited or employed, or engage, directly or indirectly, the services of any employee or former employee of Parent or any of its Affiliates. 
 (c) Notwithstanding anything to the contrary contained herein, the Initial Non-Compete Period referred to in Sections
7(a) and (b) above may be extended for two (2) successive periods of one (1) year each following the expiration of the Initial Non-Compete Period and the restrictions set forth in Section 7(a) and (b) above shall remain in
full force and effect until the expiration of such additional one-year period(s), at the Company’s option. Should the Company elect to extend the Initial Non-Compete Period (or any subsequent one-year period) pursuant hereto, the Company shall
provide the Executive with written notice of such extension at least ninety (90) days prior to the expiration of each of the Initial Non-Compete Period, the first and the second one-year periods following such Initial Non-Compete Period, as the
case may be; provided that it is understood and agreed that the Company’s right to extend for the second one-year period is dependent on the Company having extended for the first one-year period as provided herein. In the event the
Company elects to extend the Initial Non-Compete Period (or any subsequent one-year period) pursuant hereto, the Company shall pay the Executive, in consideration of the agreements of the Executive not to compete with the Parent and any of its
respective Affiliates until the expiration of such extended one-year period(s), the Annual Base Salary (as in effect during the year of termination of the Executive’s employment) in respect of each such additional one-year period, payable in
accordance with the Company’s customary payroll practices. 
 8. Inventions. Any and all inventions made,
developed or created by the Executive (whether at the request or suggestion of the Company and/or Parent or otherwise, whether alone or in conjunction with others, and whether during regular working hours or otherwise) during the period of his
employment with the Company and/or Parent, which may be directly or indirectly useful in, or relate to, the Business or the business of Parent or any of its Affiliates, shall be promptly and fully disclosed by the Executive to the Board of
Directors, and shall be the Company’s exclusive property as against the Executive. The Executive shall promptly deliver to the Board of Directors all papers, drawings, models, data and other material relating to any invention made, developed or
created by him as aforesaid. The Executive hereby assigns any and all such inventions to the Company and hereby agrees to execute and deliver such agreements, certificates, assignments or other documents as may be necessary to effect the assignment
to the Company of any and all such inventions as contemplated by this Section 8. The Executive shall, upon the Company’s and/or Parent’s request, as applicable, and without any payment therefor, execute any documents necessary or
advisable in the opinion of the Company’s and/or Parent’s counsel, as applicable, to direct issuance of patents or copyrights of the Company and/or Parent, as applicable, with respect to such inventions as are to be in the Company’s
and/or Parent’s exclusive property, as applicable, as against the Executive under this Section 8 or to vest in the Company and/or Parent, as applicable, title to such inventions as against the Executive, the expense of securing any such
patent or copyright, to be borne by the Company and/or Parent, as applicable. 
 9. Breach.
 9.1. Both parties recognize that the services to be rendered under this Agreement by the Executive are special, unique
and extraordinary in character, and that in the event of a breach by

  

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Executive of the material terms and conditions of the obligations to be performed by him hereunder, the Company shall be entitled, if it so elects, to institute and prosecute proceedings in any
court of competent jurisdiction, either in law or in equity, to obtain damages for any breach of this Agreement, or to enforce the specific performance thereof by the Executive. Without limiting the generality of the foregoing, the parties
acknowledge that a breach by the Executive of his material obligations under Sections 6, 7 or 8 could cause the Company irreparable harm for which no adequate remedy at law would be available in respect thereof and that therefore upon proof of the
same the Company would be entitled to seek and obtain injunctive relief with respect thereto. 
 9.2. In the
event of a breach by the Company of the material terms and conditions of the obligations to be performed by it hereunder, the Executive shall provide the Company with written notice thereof, specifying the nature of the breach, within seven
(7) days of such breach and the Company shall have thirty (30) days followings its receipt of such notice to cure the breach specified therein to the reasonable satisfaction of Executive. To the extent the Company fails to cure such breach
as provided herein, the Executive shall then be entitled, if he so elects, to institute and prosecute proceedings in any court of competent jurisdiction, either in law or in equity, to obtain damages for such breach. To the extent the Company fails
to cure such breach as provided herein, the non-competition restrictions set forth in Section 7 shall terminate. 
 10. Parent’s Guaranty. Parent hereby guarantees all of Company’s obligations under this Agreement, including, but not limited to, prompt and full payment of any and all amounts due the Executive under this
Agreement. 
 11. Insurance. The Executive acknowledges and agrees that the Company may obtain a life insurance
policy on the life of the Executive with the Company named as the beneficiary. If the Company so elects, the Executive covenants and agrees to cooperate fully with the Company’s efforts to obtain such insurance policy. 
  

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 12. Conflicting Agreements. The Executive hereby represents and warrants to
the Company that (a) neither the execution of this Agreement by the Executive nor the performance by the Executive of any of his obligations or duties hereunder will conflict with or violate or constitute a breach of the terms of any employment
or other agreement to which the Executive is a party or by which the Executive is bound, and (b) the Executive is not required to obtain the consent of any person, firm, corporation or other entity in order to enter into this Agreement or to
perform any of his obligations or duties hereunder. 
 13. Further Assurances. The Executive hereby agrees to
execute and deliver such agreements, certificates or other documents as may be reasonably requested by the Company which may be necessary or are required hereunder. 
 14. Miscellaneous.
 14.1. Successors; Binding
Agreement. This Agreement and all rights of the Executive hereunder shall inure to the benefit of the parties hereto and their respective heirs, personal representatives, successors and assigns; provided, that the duties of the Executive
hereunder are personal to the Executive and may not be delegated or assigned by him. 
 14.2. Notice. All notices and other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given when delivered personally, by registered or certified mail, postage prepaid,
or by a nationally recognized overnight courier service as follows: 
  

	 	(a)	If to the Executive: 

 at his then current address 
 included in the employment records of the Company; 
 with a copy to: 
  

	 	(b)	If to the Company or Parent: 

 c/o Edgen Louisiana Corporation 
 18444 Highland Road 

Baton Rouge, LA 70809 
 Attention: President 
 with a copy to: 
 Piper Rudnick LLP 
 1251 Avenue of the Americas 
 New York, New York 10020-1104

 Attention: Leonard Gubar, Esq. 
 or to such other address as any party may have furnished to the other parties in writing in accordance herewith. 
 14.3. Governing Law. This Agreement shall be governed by and in accordance with the laws of the State of Louisiana without regard to conflict of law rules thereof. 
 14.4. Waivers. The waiver of any party hereto of any right hereunder or of any failure to perform or breach by any other
party hereto shall not be deemed a waiver of any other right hereunder or of any other failure or breach by any other party hereto, whether of the same or a similar nature or otherwise. No waiver shall be deemed to have occurred unless set forth in
writing executed by or on behalf of the waiving party. No such written waiver shall be deemed a continuing waiver unless specifically stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not
constitute a waiver of such term or condition for the future or as to any act other than that specifically waived. 
  

 10 

 14.5. Validity. The invalidity or unenforceability of any provision of this
Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall otherwise remain in full force and effect. Moreover, if any one or more of the provisions contained in this Agreement is held to be
excessively broad as to duration or scope, such provisions shall be construed by limiting and reducing them so as to be enforceable to the maximum extent compatible with applicable law. 
 14.6. Entire Agreement. This Agreement sets forth the entire agreement and understanding of the parties in respect of the
subject matter contained herein, and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of either party in respect of
said subject matter. 
 14.7. Headings Descriptive. The headings of the several paragraphs of this Agreement
are inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Agreement. 
 14.8. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written. 
  

			
	EXECUTIVE:
		
		 	/s/ CRAIG S. KIEFER
		 	Craig S. Kiefer

  

			
	EDGEN CARBON PRODUCTS GROUP, L.L.C.
		
	By:	 	/s/ DAVID L. LAXTON, III
	Name:	 	David L. Laxton, III
	Title:	 	Secretary / Treasurer

  

			
	 With respect to Section 10 only
  

EDGEN CORPORATION

		
	By:	 	/s/ DANIEL J. O’LEARY
	Name:	 	Dan J. O’Leary
	Title:	 	President / CEO

  

 11 

 ANNUAL BONUS 
 A bonus for a percentage of the Executive’s Annual Base Salary may earned by the Executive based on the Parent’s consolidated
earnings before interest, income taxes, depreciation and amortization (“EBITDA”). Prior to each fiscal year, the Parent’s Board of Directors will determine a targeted EBITDA amount (“Target EBITDA”) for the
ensuing fiscal year. The Board of Directors determination shall be fixed and binding on the Parent, the Company and the Executive. For 2004, the pre-bonus Target EBITDA is $17,358,400. If 2004 EBITDA is less than or equal to $9.0 million (the
“Minimum EBITDA”), then the Executive shall not be entitled to receive any bonus. If 2004 EBITDA is greater than the Minimum EBITDA, then the Executive shall be entitled to receive a bonus in an amount equal to 2% of his Annual Target
Bonus for each 1% of Target EBITDA in excess of Minimum EBITDA. For 2004, the Executive’s Annual Target Bonus is $180,000. 
 In addition, the amount of any bonus earned by the Executive under the Target EBITDA formula described above will be adjusted downward by an amount not to exceed 20% if the Parent’s working capital ratio at the fiscal year end exceeds
the target working capital ratio established by the Parent’s Board of Directors at the beginning of the fiscal year. The working capital ratio is defined as the sum of accounts receivable and inventories divided by the sum of trade accounts
payable and accrued expenses, expressed as a percent of Parent’s consolidated sales. For 2004, the target working capital ratio is 25.5%. 
 Should the actual working capital ratio exceed the target working capital ratio, then the bonus amount shall be reduced by an amount equal to the percentage that the actual working capital ratio exceeds
the target working capital ratio. For example, if the target working capital ratio is 30% and the actual working capital ratio is 33%, then the bonus amount will be reduced by 10% (33% - 30% 3%; 3%/30% = 10%). 
 Any bonus earned will be paid by March 15 of the year following the year in which the bonus is earned. 
  

 12 

 Schedule B 
 LOUISIANA PARISHES 
  

					
	 Acadia
 Allen
 Ascension
 Assumption
 Avoyelles
 Beauregard
 Bienville
 Bossier
 Caddo
 Calcasieu
 Caldwell
 Cameron
 Catahoula
 Claiborne
 Concordia
 DeSoto
 East Baton Rouge
 East Carroll
 East Feliciana
 Evangeline
 Franklin
 Grant
	  	 Iberia
 Iberville
 Jackson
 Jefferson
 Jefferson Davis
 Lafayette
 Lafourche
 LaSalle
 Lincoln
 Livingston
 Madison
 Morehouse
 Natchitoches
 Orleans
 Ouachita
 Plaquemines
 Pointe Coupee
 Rapides
 Red River
 Richland
 Sabine
 St. Bernard
	  	St. Charles
 St. Helena
 St. James
 St. John the Baptist

 St. Landry
 St. Martin

St. Mary
 St. Tammany
 Tangipahoa
 Tensas
 Terrebonne
 Union
 Vermillion
 Vernon
 Washington
 Webster
 West Baton Rouge
 West Carroll
 West Feliciana
 Winn

 

 13Contract of Employment, dated June 28, 1994

 Exhibit 10.7 
 CONTRACT OF EMPLOYMENT 
 between 
 MURRAY INTERNATIONAL METALS LIMITED 
 and 
 MICHAEL CRAIG 
 Dated: 28/6/94 & 16/5/94 

 CONTRACT OF EMPLOYMENT 
 between 
 MURRAY INTERNATIONAL METALS LIMITED 
 having its Registered Office at 95 High Street, Edgware, Middlesex (hereinafter called “the Company”) of the one part, 
 and 
 MICHAEL CRAIG 
 residing at 6 West Craigs Avenue, Edinburgh (hereinafter called “the Employee”) of the other part  
 WHEREAS the Company is desirous of employing the Employee and the Employee is desirous of entering employment with the Company: NOW THEREFORE IT IS HEREBY
AGREED AS FOLLOWS:– 
  

			
	FIRST	  	Position
		
		  	The Company shall employ the Employee and the Employee shall act as a Sales Executive of the Company (or in such other office or offices as may from time to time be agreed).
Notwithstanding the foregoing the Employee accepts that he may be required to perform other duties or tasks outwith the scope of his normal duties. The Company shall be entitled from time to time to appoint any person or persons to act jointly with
the Employee.

			
		
	SECOND	  	Commencement, Duration & Notice
		
		  	This Agreement shall be deemed to have commenced on the First day of March 1994 and shall continue subject as hereinafter mentioned until terminated by either party hereto giving
to the other not less than three months’ previous notice in writing. On serving notice for any reason to terminate this Agreement the Company may then or at any time thereafter during the currency of such notice by giving notice thereof to the
Employee (i) elect to pay to the Employee as pay in lieu of notice, his salary at the basic rate then applicable under deduction of income tax and national insurance contributions if applicable for the unexpired portion of his appointment or his
entitlement to notice as the case may be or (ii) instruct the Employee to stay away from work during the currency of such notice unless the Company requests the Employee to attend work by giving at least 48 hours’ prior notice.
		
	THIRD	  	Continuous Employment
		
		  	The date of commencement of continuous service with the Company will, for all purposes, be treated as the Seventh day of November 1989.
		
	FOURTH	  	Duties
		
		  	The Employee shall devote the whole of his time, attention and skill to the duties of his office and shall faithfully, efficiently, competently and diligently perform such duties
and exercise such powers as may from time to time be assigned to or vested in him and shall obey all reasonable and lawful directions given by or

  

 2 

			
		  	under the authority of the Board of Directors of the Company (“the Board of Directors”) and use his best endeavours to promote and extend its business to protect and
further its interests and reputation and to further the interests of the Company in relation to new inventions or business concepts for exploitation by the Company. The Employee may be required in pursuance of his duties hereunder to perform
services not only for the Company but also for any Associated Company (as hereinafter defined) of it and without further remuneration (except as otherwise agreed in writing between the parties hereto) to accept such offices in any Associated Company
as the Company may from time to time reasonably require. The Company shall, without prejudice to the Employee’s rights hereunder, be entitled from time to time without any further consent, to second the Employee to the employment of any
Associated Company. The Employee’s place of work shall be Murray Works, Newbridge Industrial Estate, Newbridge, Midlothian. The Employee shall not be obliged (except for occasional visits in the ordinary course of his duties) to reside outside
the United Kingdom.
		
	FIFTH	  	Hours of Work
		
		  	The Company’s normal hours of work are from 8.30 am to 5.30 pm (Monday to Friday) inclusive of one hour for lunch daily, but the Employee is expected and may be requested to
work reasonable overtime when necessary for the performance of his duties without additional remuneration.

  

 3 

			
	SIXTH	  	Other interests
		
		  	The Employee shall not during the term of this Agreement (except with the Company’s prior consent in writing) be directly or indirectly engaged or concerned in the conduct
of any other business or be directly or indirectly interested in any such business save through holding or being interested in investments (quoted or unquoted) not representing more than two per centum of the issued equity capital or any other class
of share or debenture capital of any one company.
		
	SEVENTH	  	Confidentiality
		
		  	The Employee shall not at any time hereafter directly or indirectly divulge or communicate to any person (other than those whose province it is to know the same or with proper
authority) or make use of (other than for the purposes of the Company or an Associated Company) any of the trade secrets, designs, design improvements, know-how, business information methods, lists and other confidential information of the Company
and of any Associated Company and of their respective customers or clients which he may have received or obtained while in the service of the Company. This restriction shall continue to apply after the termination of the Employee’s employment.
The Employee shall

  

 4 

			
		  	use his best endeavours to prevent the publication or disclosure of any of the trade secrets or other confidential information of the Company or of any Associated Company whether
relating to its trade dealings, financial affairs or otherwise which he may have received or obtained or may hereafter receive or obtain while in the service of the Company.
		
	EIGHTH	  	Salary and Salary Reviews
		
		  	The Company shall pay to the Employee during the continuance of his employment a salary at the rate of ________________ per annum which sum shall be payable by equal monthly
instalments, in arrears, on or about the last day of each month and shall accrue from day to day. Although the Company shall be under no obligation to increase the salary payable hereunder, it shall be subject to review at least once in each year
and except as otherwise provided herein shall be inclusive of any other remuneration from the Company or any Associated Company other than any profit sharing bonus.
		
	NINTH	  	Expenses
		
		  	Subject where appropriate to the production of the relative vouchers, the Employee shall be reimbursed for all authorised out-of-pocket expenses properly and reasonably incurred
in the performance of his duties hereunder including expenses of entertainment, subsistence and travelling.

  

 5 

			
	TENTH	  	Holidays
		
		  	The Employee shall be entitled without loss of remuneration to twenty working days’ holiday in each calendar year running for these purposes from first January to
thirty-first December (in addition to not less than ten days’ local and statutory holiday) to be taken at such convenient time or times as the Company shall approve. In the event that the Employee has not been employed throughout a full
calendar year, the Employee’s entitlement shall be calculated pro rata according to each month of employment completed during that calendar year. Unused holiday entitlement in respect of any calendar year cannot, without the
Company’s prior consent in writing, be carried forward to the subsequent calendar year and no holiday entitlement or payment in respect thereof will arise on the termination of this Agreement.
		
	ELEVENTH	  	Sickness and Absence from Work
		
		  	Without prejudice to the terms of Clauses SECOND and SIXTEENTH hereof, during any period of absence from work due to sickness or accident during the continuance of
this Agreement, the Employee shall notify the Company so far as practicable on the first day of such absence and provide the Company with a completed self certificate form for periods of absence from four to seven days and a doctor’s
certificate for periods in excess of seven days and, subject to compliance with the above, shall be paid as follows:
		
		  	 (i)     if the Employee has completed less than three complete years of continuous service with the
Company (or any Associated Company to which the Employee may have been seconded as aforesaid) excluding, for these purposes, periods of absence from work due to sickness or accident, in full for the first thirteen weeks of such absence and at the
rate of half salary for the next thirteen weeks thereafter;

  

 6 

			
		  	 (ii)    if the Employee has completed three or more complete years of continuous service with the Company
(or any Associated Company to which the Employee may have been seconded as aforesaid) excluding, for these purposes, periods of absence from work due to sickness or accident, in full for the first twenty-six weeks of such absence and at the rate of
half salary for the next Twenty-Six weeks thereafter.

		
		  	In each case there shall be deducted from the salary payable the amount of any income benefit to which the Employee is entitled, whether claimed or not, in consequence of such
sickness or accident under the Nation al Insurance Scheme for the time being in force and/or any scheme for the time being in force of which he is by virtue of his employment hereunder a non-contributory member. In any event, after the period of
twenty-six or fifty-two weeks (as the case may be), the payment of salary whether in full or in part shall be at the Company’s sole discretion.

  

 7 

			
		  	For the purposes of assessing the entitlement of the Employee to statutory sick pay, the qualifying days will be Monday to Friday both days inclusive.
		
		  	The Company may suspend payment of Company Sick Pay if it has reasonable grounds for suspecting that the Employee is fit to return to work and may require the Employee at any
time and at its expense to be examined by an independent medical practitioner to decide whether or not the Employee is fit to return to work.
		
	TWELFTH	  	Pension Scheme
		
		  	Subject to the Rules for the time being applicable thereto the Employee shall, during the continuance of his appointment hereunder, be entitled to become a member of any pension
scheme for the time being in force for which he might be eligible. Membership of the pension scheme currently includes provision for life cover providing death-in-service benefit amounting to four times the Employee’s basic annual salary.
Changes in the Rules of any such Scheme will be notified in writing to the Employee within one month or such other period as is reasonable in the circumstances and copies of the Rules of any such scheme for the time being in force will be made
available on application to the Secretary of the Company. There is at the date hereof a contracting-out certificate in respect of the Employee’s employment.

  

 8 

			
		  	Company Car
		
		  	To enable the Employee to perform his duties hereunder he shall be provided with the use of a motor vehicle in respect of which the Company shall defray the insurance and all
running costs (including fuel used for business purposes). The Employee shall be responsible for ensuring that the vehicle is at all times in the state and condition required by law, that where applicable a test certificate in relation thereto is in
force (the costs of obtaining such Certificate to be borne by the Company) and that he is at all times the holder of a valid United Kingdom drivers licence which shall be produced to the Company on demand. The Employee will be required at all times
to conform with the Company’s regulations regarding the provision of motor vehicles and any requirements of the Company’s insurers intimated from time to time to the Employee.
		
	THIRTEENTH	  	Intellectual Property - Patents & Trademarks
		
		  	In view of the fact that the business of the Company and of its Associated Companies consists in part in the development and exploitation of inventions and that it is the
Employee’s responsibility to further the interests of the Company and its Associated Companies in respect thereof, each and every

  

 9 

			
		  	discovery, invention, improvement, design and secret process made or discovered by the Employee at any time whether before or after the date hereof but after he became an
employee of the Company, whether capable of being patented or registered or not (and whether or not made or discovered in the course of his employment hereunder) in connection with or in any way affecting or relating to the business of the Company
or of any Associated Company or capable of being used or adapted for use therein or in connection therewith shall forthwith be disclosed to the Company and shall belong to and be the absolute property of the Company or such one of its Associated
Companies as the Company may nominate for the purpose. If and whenever required so to do (whether during or after the termination of his employment with the Company), the Employee shall, at the Company’s expense, apply or join in applying for
letters patent or other equivalent protection in the United Kingdom or any other part of the world for any such discovery, invention, improvement, design and secret process as aforesaid, and execute and do all instruments and things necessary for
vesting the said letters patent or other equivalent protection when obtained and all right, title and interest to and in the same in the Company or its nominees absolutely and as sole beneficial owner or in such other person as the Company may
require. Provided always that nothing herein shall prejudice the Employee’s rights under Sections 39 to 43 of the Patents Act 1977 as amended or re-enacted from time to time.

  

 10 

			
	FOURTEENTH	  	Property in Confidential Material and Copyright
		
		  	 (A)   All drawings, designs, photographs, plans, models, blueprints, reports, manuals, files, notes, accounts,
customer and price lists, documents or other material and all notes and memoranda of any trade secrets or confidential information of the Company or of any Associated Company as shall have been made or received by the Employee during the course of
his employment (whether before or after the date of execution of this Agreement) are and shall be the property of the Company and shall be surrendered by the Employee to someone duly authorised by the Company for such purpose upon the termination of
this Agreement or at the request of the Board of Directors at any time during the course of his employment hereunder.

		
		  	 (B)   (i) The Employee shall promptly disclose to the Company all copyright works or designs originated,
conceived, written or made by him alone or with others (except only those works originated, conceived, written or made by him wholly outside his normal working hours and wholly unconnected with his appointment) and shall until such rights shall be
fully and absolutely vested in the Company hold them in trust for the Company.

  

 11 

			
		  	 (ii)    The Employee shall assign and hereby assigns to the Company all copyright, design right and other
proprietary rights if any for the full terms thereof throughout the world in respect of all copyright works and designs originated, conceived, written or made by the Employee (except only those works or designs originated, conceived, written or made
by the Employee wholly outside his normal working hours and wholly unconnected with his appointment) during the period of his employment hereunder.

		
		  	 (iii)  The Employee hereby irrevocably and unconditionally waives in favour of the Company any and all moral rights
conferred on him by chapter IV of Part I of the Copyright Designs and Patents Act 1988 for any work in which copyright or design right is vested in the Company whether by this Clause or otherwise.

		
		  	 (iv)   The Employee will at the request and expense of the Company do all things necessary or desirable to
substantiate the rights of the Company under this Clause.

  

 12 

			
	FIFTEENTH	  	Re-employment on an Acquisition
		
		  	If the Employee shall have refused or failed to agree to accept employment offered to him on terms no less favourable to him than the terms in effect under this Agreement either
by a company which has acquired or agreed to acquire the whole or substantially the whole of the undertaking and assets of the Company or which shall own or have agreed to acquire the whole or not less than ninety per centum of the equity share
capital of the Company or by a subsidiary of such a company, he shall have no claim against the Company by reason of the termination of this Agreement by it, provided termination is within one month after such refusal or failure to
agree.
		
	SIXTEENTH	  	Termination
		
		  	 (A)   The Company shall, notwithstanding the provisions of Clause SECOND hereof and without prejudice to
the terms of Clause SEVENTEENTH hereof or any other rights of the Company to terminate the employment of an employee, have the right to terminate the Employee’s employment forthwith by summary notice to be followed in writing in any of
the following events:–

		
		  	 (i)     he is by reason of ill-health or accident incapacitated from performing his duties hereunder
and shall have been so incapacitated for a total period of not less than two hundred and sixty working days in the preceding twenty four months;

  

 13 

			
		  	 (ii)    he has been found guilty of any criminal offence (other than
under the Road Traffic Acts from time to time in force), or shall become of unsound mind or lunatic;
  
 (iii)  he shall become insolvent or shall have compounded with or granted a trust deed on behalf of his
creditors or their respective equivalents in England or in any other jurisdiction;
  
 (iv)   he shall have refused or failed to agree to accept employment on the terms and in the
circumstances specified in Clause FIFTEENTH hereof; and
  
 (v)    he has committed any serious breach (whether by one or several acts or omissions) or repeated or continued any material breach of his obligations hereunder having already
received warning from the Company or shall have been guilty of conduct tending to bring himself or the Company or any Associated Company into disrepute.

  

 14 

			
		  	 (B)   The termination of this Agreement in accordance with and for any of the reasons specified in this Clause
shall be deemed to be for a substantial and sufficient reason of a kind such as to justify the Employee’s dismissal from holding the position that he holds and it shall be deemed, in the circumstances, to be fair and reasonable for the Company
to give notice of termination provided for by this Clause.

		
		  	 (C)   Without prejudice to the Employee’s rights in his capacity as an employee, upon the termination of
this Agreement howsoever arising he shall at any time on the Company’s request resign without claim for compensation from any office held by him in the Company or in any Associated Company merely in his capacity as a Director or Company
Secretary.

		
	SEVENTEENTH	  	Power of Attorney
		
		  	The Employee hereby irrevocably appoints the Company to be his authorised attorney to do all such things and to execute all such documents in his name and on his behalf but only
in so far as may be necessary to secure that the full benefit and advantage of the rights arising under Clauses THIRTEENTH, FOURTEENTH and SIXTEENTH (C) hereof are obtained by the Company (or where appropriate its nominee) and a
letter signed by any Director or Secretary of the Company certifying that anything or any document has been done or executed within the authority hereby conferred shall be conclusive evidence of the same.

  

 15 

			
	EIGHTEENTH	  	Grievance Procedure
		
		  	Grievance procedures applicable to the Employee are set out in the Schedule hereto. If the Employee has any grievance relating to his employment with the Company he should raise
the matter by following the procedures set out in the Grievance Procedures.
		
	NINETEENTH	  	Disciplinary Rules
		
		  	Disciplinary rules applicable to the Employee are set out in the Schedule hereto.
		
	TWENTIETH	  	Restrictive Covenant
		
		  	 (A)   In this Clause the expression “Termination Date” means the date on which this Agreement shall
determine irrespective of the cause or manner (the event of the Employee’s death or determination caused by a breach by the Company only excluded).

		
		  	 (B)   In so far as the Employee has obtained and is likely to obtain in the course of his further employment
with the Company knowledge of trade secrets, designs, design improvements, know-how methods, lists and other confidential information relating to the Company and its Associated Companies and also to their respective clients or customers, in addition
to the restrictions contained in Clause SEVENTH hereof he will be bound by the following restrictions:–

  

 16 

			
		  	 (i)     he will not either before or during the period of six months after the Termination Date,
either (a) canvass or solicit or undertake in the United Kingdom in competition with the Company, the custom or business of any person, firm or company carrying on business in the United Kingdom who at any time during the last eighteen months of the
Employee’s employment with the Company was a client or customer of the Company or any Associated Company of it in relation to whose requirements he had knowledge of a material kind or (b) accept such orders from any such
person;

		
		  	 (ii)    he will not either before or during the period of six months after the Termination Date (a) be
directly or indirectly engaged, interested or concerned in any business carried on or about to be carried on by any person, firm or company which is in any way competitive with the business of the Company, or with the business of any Associated
Company (b) set up in business either on his own or in conjunction with others, within a radius of one hundred miles from the Employee’s principal place

  

 17 

			
		  	 of business with the Company at the Termination Date; provided always that these restrictions shall not operate so as to prohibit the Employee (a)
from being engaged, interested or concerned in any such business so far as his involvement therein or duties thereto shall relate exclusively to work of a kind or nature with which the Employee was not concerned to a material extent during his
employment with the Company or (b) from holding or being otherwise interested in not more than 5% of the equity share capital or loan capital of any company which is quoted on a recognised Stock Exchange (as defined in the Financial Services Act
1986) or dealt in on the Unlisted Securities Market;

		
		  	 (iii)  he will not either before or during the period of two years after the Termination Date entice, solicit or
endeavour to entice or solicit any employee, contractor or consultant of the Company or any Associated Company of it away from employment of or other association with the Company or any such Associated Company;

  

 18 

			
		  	 (iv)   he will not at any time whether before or after the Termination Date interfere with the supply to the
Company or to any Associated Company of it of any goods or services by any supplier who during the twelve months preceding the Termination Date shall have supplied goods or services to the Company or to any such Associated Company being a supplier
with whom, during the course of his employment with the Company, he had dealings of a material kind in his capacity as an employee of the Company nor will he interfere or seek to interfere with the continuance of such supply or the terms on which
supply has during such period as aforesaid been made.

		
		  	 (C)   The restrictions set out in paragraphs (i), (ii), (iii) and (iv) of sub-clause (B) above
shall apply to any action taken by the Employee whether as agent, representative, principal, employee, sub-contractor or consultant or as a director or shareholder of any company and/or by any spouse of his and/or by any company controlled by him or
any such spouse.

		
		  	 (D)   While the restrictions aforesaid are considered by both parties hereto to be reasonable in all the
circumstances, it is recognised that restrictions of the nature in question may fail for technical reasons unforseen and accordingly it is

  

 19 

			
		
		  	 hereby declared and agreed that (a) each of the foregoing restrictions in this Clause are separate and severable restrictions and (b) if any of
such restrictions shall be adjudged to be void as going beyond what is reasonable in all the circumstances for the protection of the interests of the Company but would be valid if part of the wording hereof were deleted and/or the periods (if any)
thereof reduced and/or area dealt with thereby reduced in scope, the said restrictions shall apply with such deletions or modifications as may be necessary to make them valid and effective.

		
		  	 (E)   Since the Employee may obtain in the course of his employment by reason of services rendered for or
offices held in any Associated Company knowledge of the trade secrets, designs, design improvements, know-how, business information methods, lists (including lists of clients) or other confidential information of such company, he agrees that without
prejudice to the foregoing restrictions he will at the request and cost of the Company enter into a direct agreement or undertaking with such company whereby he will accept restrictions and provisions corresponding to the restrictions and provisions
herein contained (or such of them as may be appropriate in the circumstances) in relation to such products, services and such area and for such period as such company may reasonably require for the protection of its legitimate
interests.

  

 20 

			
		
	TWENTY-FIRST	  	Definitions
		
		  	In this Agreement words and phrases defined for the purposes of Sections 736 and 744 of the Companies Act 1985 shall bear the same meaning and the expression “Associated
Company” means any company which from time to time is (i) a company having an ordinary share capital of which not less than twenty-five per centum is owned directly or indirectly by the Company or (ii) a holding company of the Company or any
subsidiary of any such holding company; and the provisions of Section 840 of the Income and Corporation Taxes Act 1988 shall apply in determining the questions of control for any purpose.
		
	TWENTY-SECOND	  	Notices
		
		  	Notices may be given by either party by letter or facsimile message, addressed to the other at (in the case of the Company) its registered office for the time being or such other
place as may be notified to the Employee for this purpose and (in the case of the Employee) his last known address, and any such notice shall be deemed to have been served at the time at which the letter would, in the ordinary course of the regular
first class post, have been received.

  

 21 

			
	TWENTY-THIRD	  	Continuing Provisions
		
		  	The expiration or determination of this Agreement howsoever arising shall not operate to affect such of the provisions hereof as in accordance with their terms are expressed to
operate or have effect after such expiration or determination.
		
	TWENTY-FOURTH	  	Whole Agreement
		
		  	The information contained herein constitutes a written statement of the terms of the Employee’s employment in compliance with the provisions of the Employment Protection
(Consolidation) Act 1978 as amended, and comprises the whole agreement relating to the matters contemplated herein. Any other agreements between the parties are hereby revoked and replaced by this Agreement from the date on which this Agreement is
deemed to have commenced, which, save for any alteration of salary pursuant to Clause EIGHTH hereof, may only be altered or amended by an agreement in writing formally executed by the parties hereto.
		
	TWENTY-FIFTH	  	Interpretation
		
		  	In this Agreement words importing the masculine shall include the feminine and words importing the singular include the plural and vice versa.

  

 22 

			
	TWENTY-SIXTH	  	Governing Law
		
		  	This Agreement shall be governed and construed in all respects in accordance with the Law of Scotland and the parties hereto submit to the jurisdiction the Scottish
Courts:
		
		  	IN WITNESS WHEREOF these presents typewritten on this and the 22 preceding pages and the Schedule hereto are executed by the parties as follows:
		
		  	They are subscribed by the Company and signed for and on its behalf at Newbridge on the 28th day of June, 1994
		
		  	by:
		
		  	/s/ K.A. Cockburn              Director
		
		  	/s/ William Hamilton        Director/Secretary
		
		  	 They are subscribed by the Employee at Singapore on the 16th day of May, 1994
  
 in the presence of:–

		
	Signature of	  	 First Witness  /s/ William Hamilton
  

Full Name  William Hamilton
  
 Address  67 Mewteth View
  
                 Dunblane
  
 Occupation  Company
Director                              /s/ Michael Craig
                                         
                                        
Employee’s Signature

		
	Signature of	  	 Second Witness  /s/ Douglas James Black
  
 Full Name  Douglas James Black
  
 Address  4 Grantley Gdns
  
                 Glasgow
  
 Occupation  Salesperson

  

 23 

 This is the Schedule referred to in 
 the foregoing Contract of Employment. 
 SCHEDULE

 OF 
 DISCIPLINARY 
 AND 
 GRIEVANCE PROCEDURES 

 MURRAY GROUP MANAGEMENT LIMITED 
 MURRAY HOUSE 
 4 REDHEUGHS RIGG 
 SOUTH GYLE 
 EDINBURGH EH12 9DQ 
 Disciplinary Procedure. 
  

	1.	INFORMAL WARNING 

 If
after investigation the work or conduct of an employee is found to be not of the standard required or if he is found to be in breach of his terms of employment he will be asked to explain or justify this. If the explanation is not acceptable he will
be given an informal warning by his immediate supervisor or in his absence some other person of authority in the Company. This warning will be given verbally and the supervisor will make it clear that an informal warning is being administered and
that it will be recorded on file. The following list while neither exhaustive nor exclusive is inclusive of the types of misconduct which will normally result in disciplinary action short of dismissal:– 
  

	 	(a)	careless damage to Company property; 

  

	 	(b)	careless damage to property not belonging to the Company whilst engaged, or purporting to be engaged on Company business; 

  

	 	(c)	unauthorised use of property belonging to the Company; 

  

	 	(d)	unauthorised use of property not belonging to the Company whilst engaged or purporting to be engaged on Company business; 

  

	 	(e)	unauthorised absence from work; 

  

	 	(f)	carelessness or negligence in carrying out the duties and responsibilities of the post; 

  

	 	(g)	refusal to obey reasonable instructions or otherwise fulfil the contracted obligations of the post; 

	 	(h)	abusive or threatening behaviour towards any person whilst engaged or purporting to be engaged on Company business; 

  

	 	(i)	incapacity to carry out the duties of the post due to intake of alcohol or unprescribed use of drugs; 

  

	 	(j)	less serious breaches of safety rules; 

  

	 	(k)	persistent bad timekeeping; 

  

	 	(l)	persistent and unrelated short-term sickness absences. 

  

	2.	FORMAL WARNING 

  

	 	2.1.	If the informal warning does not have the required effect or if there is a repetition of conduct justifying an informal warning the employee’s immediate supervisor
will give the employee a formal warning that his performance or conduct must improve. A written record of the formal warning will be given to the employee and will include:– 

  

	 	(a)	the reason for the warning; 

  

	 	(b)	the disciplinary action which may follow from a failure to comply with the warning; 

  

	 	(c)	any specific period of time in which the employee is required to comply with the warning; 

  

	 	(d)	the employee’s right of appeal. 

 A copy of that document will be signed and dated by the employee and placed on his file. 
  

	 	2.2.	If a formal warning fails to achieve and maintain the required improvement in conduct or performance or where a further act or omission warranting disciplinary action
occurs the employee will be given an opportunity to explain or justify the failure to his immediate supervisor. If the opportunity to state his case is not taken up by the employee or, on investigation, the explanation or justification is not
acceptable the disciplinary action described in 2.3. below will be carried out. 

  

 2 

	 	2.3.	The next step will be a final warning which will be administered by a Director of the Company and written record of the final warning will be given to the employee.

 This document will record:– 
  

	 	(a)	that it is a final warning; 

  

	 	(b)	the reason for the final warning; 

  

	 	(c)	where relevant the period of time in which the required improvement is to be achieved; 

  

	 	(d)	that failure to achieve the required improvement in performance or conduct or failure to comply with the employee’s terms of employment will result in dismissal.

 A copy of the document which will be signed and dated by the employee will be placed on his personal file.

  

	3.	DISMISSAL 

 If, following
one or more formal warnings the termination of the employment of an employee is contemplated the matter will be discussed by the Director who issued the written warning and the employee’s immediate supervisor at the location where the employee
works and if it is decided to dismiss the employee the decision will be given to him in writing. 
  

	4.	GROSS MISCONDUCT 

 If
there is gross misconduct by an employee he may be subject to summary dismissal or may be suspended on full pay pending the outcome of enquiries into the misconduct. 
  

 3 

 Dismissal without notice may result from such enquiries. Gross misconduct is behaviour of
such a nature that the Company is unable to tolerate the continued employment of the individual concerned. The following list is neither exhaustive nor exclusive but is inclusive of the types of misconduct which will normally result in
dismissal:– 
  

	 	(a)	theft of Company property; 

  

	 	(b)	theft of property not belonging to the Company whilst engaged, or purporting to be engaged on Company business; 

  

	 	(c)	wilful damage to, or misuse of, Company property or resources; 

  

	 	(d)	wilful damage to, or misuse of, property or resources not belonging to the Company whilst engaged or purporting to be engaged on Company business;

  

	 	(e)	physical or indecent assault on any person whilst engaged or purporting to be engaged on Company business; 

  

	 	(f)	grossly indecent abusive or threatening behaviour towards any person whilst engaged or purporting to be engaged on Company business; 

  

	 	(g)	fighting at work; 

  

	 	(h)	wilful breach of specified safety rules; 

  

	 	(i)	dishonest or fraudulent acts; 

  

	 	(j)	wilful provision of false or misleading information or wilful non-disclosure of information which materially affects the employee’s contract of employment;

  

	 	(k)	wilful breach of confidentiality or abuse of authority; 

  

 4 

	 	(l)	criminal conviction/civil liability or other unacceptable conduct which renders the employee unsuitable to carry out the duties and responsibilities of the post,
whether or not the conduct occurred while on duty; 

  

	 	(m)	gross carelessness or negligence in carrying out the duties and responsibilities of the post. 

  

	5.	RIGHT OF APPEAL 

 An
employee to whom a formal warning has been given as a result of the application of this Disciplinary Procedure has a right to appeal to one of the Directors of Murray Group Management Limited. 
 An employee who has been dismissed as a result of the application of this Disciplinary Procedure also has a right to appeal to a Managing
Director of Murray Group Management Limited. Such appeals must be made in writing within three working days of the action being taken against him and his failure to appeal within that time will be regarded as acceptance of the action. A hearing will
take place within 14 days or as soon as practicably possible thereafter and a decision will be sent to the employee within 7 days of the hearing. No further right of appeal exists and the procedure shall be considered to be exhausted. 
  

	6.	RIGHT OF REPRESENTATION 

 An employee may if he wishes have a colleague or other representative present to support him when any formal warning is given or at any subsequent stage in the operation of this Disciplinary Procedure. 
 Any record of warnings, informal or formal, will be removed from the personal file of an employee two years after the date of any single
warning or the last of a sequence of warnings. 
  

 5 

 Grievance Procedure 
  

	(A)	If an employee has any grievance relating to his employment, he should raise the matter as follows:– 

  

	 	(i)	first contact his immediate supervisor to discuss the matter informally; 

  

	 	(ii)	if this does not resolve the matter or if the employee feels he has been unfairly treated, contact the Managing Director of the Company either orally or in writing to
discuss the matter within 3 weeks of the occurrence of the event or events giving rise to such grievance; 

  

	 	(iii)	if this does not resolve the matter or if the employee still feels he has been unfairly treated he may request a meeting with one of the Directors of Murray Group
Management Limited within 4 weeks after he contacted the Company’s Managing Director who will deal with the employee’s case as soon as practicable thereafter. Such a request should be submitted in writing to the Managing Director giving
reasons why such a meeting is appropriate. 

  

	(B)	At any stage in the Grievance Procedure set out above the employee may be accompanied by a colleague of his choice. 

 This document is to be taken as referring to male and female employees notwithstanding that for convenience all references are to male
employees. 
  

	
	
	/s/    K. A. Cockburn        
	Director
	
	/s/    William Hamilton        
	Director Secretary
	
	/s/    Michael Craig        
	Employee’s Signature

  

 6

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