Document:

exv4w5xay

 

Exhibit 4.5(a)

AMENDMENT TO

SEABULK INTERNATIONAL, INC.

AMENDED AND RESTATED

EQUITY OWNERSHIP PLAN

     WHEREAS, SEABULK INTERNATIONAL, INC., formerly known as HVIDE MARINE INCORPORATED (the
“Company”), has heretofore adopted the HVIDE MARINE INCORPORATED AMENDED AND RESTATED EQUITY
OWNERSHIP PLAN (the “Plan”); and

     WHEREAS, the Company desires to amend the Plan in certain respects; and

     WHEREAS, the Compensation Committee of the Board of Directors of the Company has authorized
this amendment on April 18, 2005.

     NOW, THEREFORE, the Plan shall be amended as follows, effective as of April 18, 2005:

I. Section 3.1(d) of the Plan shall be deleted and replaced with the following:

     “(d) The Committee may provide in any Stock Agreement a vesting schedule. The
vesting schedule shall specify when such Awards shall become Vested and thus
exercisable. Notwithstanding any vesting schedule which may be specified in a Stock
Agreement, in the event the Participant terminates within 2 years following a Change
in Control, such Participant’s Awards granted under the Plan shall become 100%
Vested and exercisable.”

II. As amended hereby, the Plan is specifically ratified and reaffirmed.exv4w6xay

 

Exhibit 4.6(a)

AMENDMENT TO

SEABULK INTERNATIONAL, INC.

STOCK OPTION PLAN FOR DIRECTORS

     WHEREAS, SEABULK INTERNATIONAL, INC., formerly known as HVIDE MARINE INCORPORATED (the
“Company”), has heretofore adopted the HVIDE MARINE INCORPORATED STOCK OPTION PLAN FOR DIRECTORS
(the “Plan”); and

     WHEREAS, the Company desires to amend the Plan in certain respects; and

     WHEREAS, the Compensation Committee of the Board of Directors of the Company has authorized
this amendment on April 18, 2005.

     NOW, THEREFORE, the Plan shall be amended as follows, effective as of April 18, 2005:

I. Section 5.3 of the Plan shall be deleted and replaced with the following:

     “5.3 Adjustment in Capitalization.

In the event of stock dividends, spin offs of assets or other extraordinary
dividends, stock splits, combinations of shares, recapitalizations, mergers,
consolidations, reorganizations, liquidations, issuances of rights or
warrants and similar transactions or events, the number of shares of Stock
that may be issued under the Plan, as well as the number or type of shares
or other property subject to outstanding Options and the applicable option
or purchase price per share, shall be adjusted appropriately by the
Committee, as determined in its sole discretion.”

II. As amended hereby, the Plan is specifically ratified and reaffirmed.exv10w8xay

 

Exhibit 10.8(a)

AMENDMENT TO

SEABULK INTERNATIONAL, INC.

EXECUTIVE DEFERRED COMPENSATION PLAN

     WHEREAS, SEABULK INTERNATIONAL, INC. (the “Company”) has heretofore adopted the SEABULK
INTERNATIONAL, INC. EXECUTIVE DEFERRED COMPENSATION PLAN (the “Plan”); and

     WHEREAS, the Company desires to amend the Plan’s restricted stock unit adjustment provisions;

     WHEREAS, the Company also desires to amend the Plan’s termination provisions; and

     WHEREAS, the Compensation Committee of the Board of Directors of the Company has authorized
this amendment on April 18, 2005.

     NOW, THEREFORE, the Plan shall be amended as follows, effective as of April 18, 2005:

	I.  	Section 4.8 of the Plan shall be deleted and replaced with the following:

	 	  “4.8	In the event of stock dividends, spin offs of assets or other
extraordinary dividends, stock splits, combinations of shares,
recapitalizations, mergers, consolidations, reorganizations, liquidations,
issuances of rights or warrants and similar transactions or events, the number
or type of shares or other property in which RSUs are deemed to be invested
shall be adjusted appropriately by the Deferred Compensation Committee, as
determined in its sole discretion. The Deferred Compensation Committee may, in
its sole discretion, make such other adjustments to the operation of this
Article 4 as it determines to be appropriate to reflect an adjustment made
pursuant to the preceding sentence.”

	II.  	The following shall be added to the end of Section 4.9 of the Plan:

	 	   	“Notwithstanding the foregoing or any provision of a Restricted Stock
Deferral Agreement to the contrary, in the event of an adjustment pursuant
to Section 4.8, distributions from a Participant’s RSU Account shall be made
in such forms or forms as the Deferred Compensation Committee determines in
its sole discretion to be necessary to appropriately reflect such
adjustment.”

	III.  	The following shall be added to the end of Section 13.2 of the Plan:

	 	   	“Notwithstanding the foregoing, in the event of the consummation of a merger
of the Company with Seacor Holdings Inc. or a subsidiary thereof on or
before December 31, 2005, the Plan shall not be terminated pursuant to this
Section 13.2 before the expiration of a period of ten (10) years following
the effective date of such merger.”

	IV.  	As amended hereby, the Plan is specifically ratified and reaffirmed.exv10w41xay

 

Exhibit 10.41(a)

SPECIMEN

AMENDMENT TO NON-QUALIFIED STOCK OPTION AGREEMENTS

     This Amendment to each of the Non-Qualified Stock Option Agreements (the “Agreements”) by and
between Seabulk International, Inc., a Delaware corporation (the “Company”), and [                                        ] (“Employee”), with grant dates of
[                                        ],[                                        ] and [                                        ], is entered
into as of the 18th day of April, 2005.

     WHEREAS, the Company and Employee desire to amend each of the Agreements in certain respects;
and

     WHEREAS, the Compensation Committee of the Board of Directors of the Company has authorized
this amendment on April 18, 2005.

     NOW, THEREFORE, in consideration of the premises set forth above and the mutual covenants set
forth herein, the receipt and sufficiency of which are hereby acknowledged, the Company and
Employee hereby amend each of the Agreements as set forth herein below, effective as of the date
first set forth above:

	 	1.  	Section 2.2 of each of the Agreements is hereby amended and restated by
deleting the text appearing therein in its entirety and inserting the following text in
lieu thereof:

          “2.2 Notwithstanding anything to the contrary contained in this
Agreement, in the event of any Termination of Employment, other than by
reason of death or Disability, within two years following a Change in
Control, this Option shall become one hundred percent (100%) Vested and
exercisable. The Committee may, in its sole discretion, accelerate the
exercisability of any unexercisable portion of this Option at any time.”

	 	2.  	Section 6 of each of the Agreements is hereby amended and restated by deleting
the text appearing therein in its entirety and inserting the following text in lieu
thereof:

     “6. Intentionally left blank.”

	 	3.  	As so amended, each of the Agreements remains in full force and effect.

     IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be
duly executed and delivered as of the date first set forth above.

	 	 	 	 	 
	

	 	 	 	SEABULK INTERNATIONAL, INC.
	 

	 	 	 	 
	 	 	 	 	 
	Employee

	 	 	 	By:
	[                                        ]exv10w46xay

 

Exhibit 10.46

DIRECTOR COMPENSATION

     Directors not employed by Seabulk International, Inc. (the “Company”) are paid an annual
retainer of $24,000 plus $1,500 per Board meeting and $1,000 per Committee meeting ($750 and $500,
respectively, if telephonic) attended. They are reimbursed by the Company for reasonable
out-of-pocket expenses incurred for attendance at such meetings in accordance with Company policy.
All non-employee Committee chairmen are also paid an annual retainer of $5,000.

     Under the Stock Option Plan for Directors, each non-employee director is granted annual stock
options exercisable for 4,000 shares on every Annual Meeting date. The Chairman of the Board of
Directors, if a non-employee, is entitled to receive annual stock options for 8,000 shares. In
2004, each non-employee director was granted options to purchase 4,000 shares. In his initial
year, a director is granted options to purchase 10,000 shares on the date of the Annual Meeting.
All director options vest on the anniversary of each grant.exv10w47

 

Exhibit 10.47

AMENDMENT NO. 4 TO

EXECUTIVE EMPLOYMENT AGREEMENT

BY AND BETWEEN

SEABULK INTERNATIONAL, INC. AND GERHARD E. KURZ

     This Amendment No. 4 to the Executive Employment Agreement by and between Seabulk
International, Inc., a Delaware corporation formerly known as Hvide Marine Incorporated (the
“Company”), and Gerhard E. Kurz (“Executive”), dated as of April 18, 2000 (the “Agreement”), is
entered into as of the 18th day of April, 2005.

     WHEREAS, the Company and Executive desire to amend the Agreement in certain respects, and the
Compensation Committee of the Board of Directors of the Company authorized this amendment on April
18, 2005;

     NOW, THEREFORE, in consideration of the mutual covenants and the mutual benefits provided in
the Agreement, the receipt and sufficiency of which are hereby acknowledged, the Company and
Executive hereby amend the Agreement as set forth below:

     1. The following new Section 8.7 shall be added to the Agreement:

     “8.7 Notwithstanding any provision of this Agreement to the contrary, if
Executive’s employment with the Company is terminated for any reason other than for
“cause” or without “good reason,” as defined herein, the Company shall pay Executive
a single lump sum cash payment in respect of his accrued but unused vacation days
(if any) for the year of termination within five (5) days after the date of such
termination of employment.”

     2. The text of Item 1 of Amendment No. 3 to the Agreement, designated as Section 4.3(b) of the
Agreement in such amendment, is hereby re-designated as new Section 8.8 of the Agreement and is
hereby restated in its entirety as follows:

     “8.8 Notwithstanding any provision of this Agreement to the contrary, if
Executive’s employment with the Company is terminated “without cause” or for “good
reason,” as defined herein, within two years after the date upon which a Change in
Control occurs, then the Company will take the following actions, such actions to be
taken as of the last day of Executive’s employment with the Company unless otherwise
provided below:

     (a) Cause any and all outstanding options to purchase common stock of
the Company and any and all restricted stock which have not become
nonforfeitable held by Executive to become immediately exercisable and
nonforfeitable in full; and cause Executive’s accrued benefits under any and
all nonqualified deferred compensation plans sponsored by the Company to
become immediately nonforfeitable.

     (b) Cause any and all outstanding options to purchase common stock of
the Company held by Executive to remain exercisable for thirty-six (36)
months after the last day of Executive’s employment with the Company (but in
no event shall any such option be exercisable for (i) a longer period than
the

 

 

original term of such option or (ii) a shorter period than that already
provided for under the terms of such option).

     (c) If Executive’s employment with the Company terminates prior to the
payment of incentive awards under the Company’s Management Annual Incentive
Compensation Plan (“MAICP”) for the 2005 calendar year, pay Executive,
within five (5) days after the date of such termination of employment, a
lump sum cash payment equal to 100% of the 2005 maximum incentive award
specified for Executive under the MAICP multiplied by a fraction, the
numerator of which shall be the number of days Executive was employed by the
Company during calendar year 2005 and the denominator of which shall be
365.”

     3. As so amended, the Agreement remains in full force and effect.

     IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment No. 4 to be duly
executed and delivered as of the day and year first written above.

	 	 	 	 	 
	

	 	 
	 	SEABULK INTERNATIONAL, INC.
	 
	 	 	 	 
	/s/ Gerhard E. Kurz

	 	 	 	/s/ Alan R. Twaits, Sr. Vice President
	 
	 	 	 	 
	 	 	 	 	 
	GERHARD E. KURZ

	 	 	 	By:

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