Document:

Exhibit 10.3

                      EMPLOYMENT AGREEMENT

     This EMPLOYMENT AGREEMENT (this "Agreement") is entered into
as  of  July  1,  2005 by and between SEABOARD  FARMS,  INC.,  an
Oklahoma  corporation (together with any Successor  thereto,  the
"Company"), and Rodney K. Brenneman ("Executive").

                           WITNESSETH:

     WHEREAS,  the  Company  desires to  employ  and  secure  the
exclusive  services of Executive on the terms and conditions  set
forth in this Agreement;

     WHEREAS, Executive desires to accept such employment on such
terms and conditions; and

     NOW,  THEREFORE,  in consideration of the premises  and  the
mutual covenants and promises contained herein and for other good
and  valuable  consideration, the Company  and  Executive  hereby
agree as follows:

     1.   Agreement to Employ.  Upon the terms and subject to the
conditions  of  this  Agreement, the  Company  hereby  agrees  to
continue  to employ Executive, and Executive hereby accepts  such
continued employment with the Company.

     2.   Term; Position and Responsibilities; and Location.

          (a)  Term of Employment.  Unless Executive's employment shall
sooner  terminate  pursuant  to  Section  8,  the  Company  shall
continue  to  employ Executive on the terms and  subject  to  the
conditions  of this Agreement for a term commencing  on  July  1,
2005  (the "Commencement Date") and ending on the date  which  is
five  years  after the Commencement Date, provided,  however,  on
each annual anniversary date of the Commencement Date (an "Annual
Anniversary  Date"), Executive's employment  hereunder  shall  be
deemed  to  be  automatically extended, upon the same  terms  and
conditions  for  five years after such Annual  Anniversary  Date,
unless  the Company shall have given written notice to Executive,
at  least thirty (30) days prior to the expiration of such Annual
Anniversary  Date, of its intention not to extend the  Employment
Period   (as  defined  below)  hereunder.   Notwithstanding   the
foregoing,  unless  mutually agreed to by  the  Company  and  the
Executive,  Executive's  employment  hereunder  shall  under   no
circumstances extend beyond December 31, 2029.  The period during
which  Executive  is  employed by the Company  pursuant  to  this
Agreement, including any extension thereof in accordance with the
preceding  sentence,  shall be referred  to  as  the  "Employment
Period."

          (b)  Position and Responsibilities.  During the Employment
Period,  Executive shall serve as President, and shall have  such
duties  and  responsibilities  as  are  customarily  assigned  to
individuals  serving  in  such position  and  such  other  duties
consistent  with Executive's title and position as the  Board  of
Directors  of  the Company (the "Board") specifies from  time  to
time.   Executive  shall  devote all  of  his  skill,  knowledge,
commercial  efforts  and business time to

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the  conscientious  and good faith performance of his duties  and
responsibilities for the Company to the best of his ability.

          (c)  Location.  During the Employment Period, Executive's
services  shall  be  performed  primarily  in  the  Kansas   City
metropolitan area.  However, Executive may be required to  travel
in  and  outside  of Kansas City as the needs  of  the  Company's
business dictate.

     3.   Base Salary.  During the Employment Period, the Company
shall  pay Executive a base salary at an annualized rate of Three
Hundred   Seventy   thousand  dollars  ($370,000),   payable   in
installments on the Company's regular payroll dates.   The  Board
shall   review  Executive's  base  salary  annually  during   the
Employment Period and may increase (but not decrease)  such  base
salary  from  time  to  time, based on  its  periodic  review  of
Executive's performance in accordance with the Company's  regular
policies  and  procedures.  The annual  base  salary  payable  to
Executive  from  time  to  time  under  this  Section   3   shall
hereinafter be referred to as the "Base Salary."

     4.   Annual Bonus Compensation.  Executive shall be eligible to
receive  an  annual bonus ("Annual Bonus") with respect  to  each
calendar  year ending during the Employment Period.   The  Annual
Bonus  shall  be  determined by the Board of  Directors,  in  its
discretion.  Executive's Annual Bonus shall not be less than four
hundred thousand dollars ($400,000) for any calendar year  during
the  Employment  Period.   The Annual Bonus  is  earned  pro-rata
throughout  each year.  The Annual Bonus for each year  shall  be
payable in cash on or before March 1 of the following year.

     5.   Car   Allowance.  During Executive's Employment Period,
Executive will be entitled to receive an annual car allowance and
gasoline  charge privileges in accordance with the Company's  car
allowance policy.

     6.   Executive Benefits.  During the Employment Period, Executive
will  be  eligible to participate in the employee  and  executive
benefit plans and programs maintained by the Company from time to
time  in  which  executives of the Company at  Executive's  grade
level  are  eligible to participate, including  medical,  dental,
disability,  hospitalization,  life  insurance,  and   retirement
(i.e.,  401K,  pension and executive retirement plans),  deferred
compensation and savings plans, on the terms and subject  to  the
conditions set forth in such plans; as may be amended  from  time
to  time; provided, however, the benefits provided by the Company
will  not  be  amended  to  provide for any  benefits  which  are
materially  less than the current benefits provided to  Executive
at the Commencement Date.

     7.   Indemnification; Expenses; Paid Time Off.

          (a)  Indemnification.  Except to the extent, if any, prohibited
by  law,  the Company shall indemnify Executive against  expenses
(including  attorneys'  fees of counsel selected  by  Executive),
judgments,  fines  and  amounts paid in settlement  actually  and
reasonably   incurred  by  Executive  in  connection   with   any
threatened,  pending  or completed action,  suit  or  proceeding,
whether  civil,  criminal, administrative  or  investigative,  to
which Executive was, is, or is threatened to be, made a party  by
reason of facts which include Executive's being or having

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been an employee,  officer,  director or agent  of the Company or
any Affiliates.  Except to the extent, if any, prohibited by law,
the  Company  shall  pay expenses  (including  attorneys' fees of
counsel selected by Executive) actually and  reasonably  incurred
by Executive in defending any such action, suit or proceeding  in
advance  of  the  final  disposition  of  such  action,  suit  or
proceeding upon receipt of an undertaking by Executive  to  repay
such amounts so paid on Executive's behalf if it shall ultimately
be determined that Executive is not entitled to be indemnified by
the   Company  for  such  expenses  under  applicable  law.   The
provisions of this Section 7(a) shall (i) survive termination  of
this  Agreement; and (ii) not be deemed exclusive  of  any  other
indemnification  or  expense rights to  which  Executive  may  be
entitled.

          (b)  Business Expenses.  During the Employment Period, the
Company will reimburse Executive for all reasonable and necessary
business-related expenses incurred by Executive at the request of
and  on  behalf  of the Company in accordance with The  Company's
normal expense reimbursement policies.

          (c)  Paid Time Off.  During the Employment Period, Executive
shall  be  entitled  to paid time off on an annualized  basis  in
accordance  with  the Company's paid time off policy.   Executive
shall also be entitled to Company-designated holidays.

     8.   Termination of Employment.

          (a)  Termination Due to Death or Disability.  Executive's
employment  shall automatically terminate upon Executive's  death
and   may  be  terminated  by  the  Company  due  to  Executive's
Disability  (as defined below in this subsection  (a)).   In  the
event  that  Executive's  employment is  terminated  due  to  his
Disability or death, no termination benefits shall be payable  to
or    in   respect   of   Executive   except   as   provided   in
Section  8(f)(ii).  For purposes of this Agreement,  "Disability"
means  a  physical  or mental disability that prevents  or  would
prevent the performance by Executive of his duties hereunder  for
a  continuous  period of six months or longer.  The determination
of   Executive's  Disability  will  be  made  by  an  independent
physician agreed to by the parties.  If the parties are unable to
agree within ten (10) days after a request for designation  by  a
party,  then  the Company and the Executive shall each  select  a
physician,  and  the two (2) physicians selected shall  select  a
third physician.  The three (3) physicians so selected shall make
a  determination of the Executive's Disability, as determined  by
at  least  two  (2) of the three (3) physicians  selected.   Such
determination  shall be final and binding on the parties  hereto,
and shall be based on such competent medical evidence as shall be
presented  to such physicians by Executive and/or the Company  or
by  any  physician  or  group of physicians  or  other  competent
medical  experts  employed by Executive  and/or  the  Company  to
advise such physicians.

          (b)  Termination by the Company for Cause.  Executive's
employment may be terminated by the Company for Cause (as defined
below in this subsection (b)).  In the event of a termination  of
Executive's employment by the Company for Cause, Executive  shall
be paid the termination benefits as provided in Section 8(f)(ii).
For  purposes  of this Agreement, "Cause" means  (i)  a  material
breach  by Executive of any provision of this Agreement;  (ii)  a
material  violation  by Executive of any Policy  (as  defined  in
Section  14),  resulting  in  material  injury  to  the  Company;
(iii) Executive's willful misconduct or gross negligence that has
caused or is reasonably expected to result in material injury  to
the  business, reputation or prospects of the

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Company or  any  of its Affiliates; (iv)   Executive's   material
fraud   or   misappropriation  of funds; or (v) the commission by
Executive  of a   felony involving moral turpitude; provided that
no   termination   under  clauses  (i) or (ii) shall be effective
unless Company shall have given  Executive notice of the event or
events constituting Cause and Executive shall have failed to cure
such  event  or events  within   thirty  (30) business days after
receipt  of  such notice.

          (c)  Termination Without Cause.  Executive's employment may be
terminated by the Company Without Cause (as defined below in this
subsection  (c)) at any time.  In the event of a  termination  of
Executive's  employment  by  the  Company  Without   Cause,   the
Executive  shall be paid the termination benefits as provided  in
Section  8(f)(i).  For purposes of this Agreement, a  termination
"Without   Cause"  shall  mean  a  termination   of   Executive's
employment by the Company other than due to Executive's death  or
Disability as described in Section 8(a) and other than for  Cause
as described in Section 8(b).

          (d)  Termination by Executive.  Executive may resign from his
employment for any reason, including for Good Reason (as  defined
below in this subsection (d)).  In the event of a termination  of
Executive's employment by Executive's resignation other than  for
Good  Reason, no termination benefits shall be payable to  or  in
respect  of Executive except as provided in Section 8(f)(ii)  and
in  the  event  of  a  termination of Executive's  employment  by
Executive  for  Good  Reason, no termination  benefits  shall  be
payable  to  or  in respect of Executive except  as  provided  in
Section  8(f)(i).  For purposes of this Agreement, a  termination
of  employment  by  Executive  for "Good  Reason"  shall  mean  a
resignation  by  Executive from his employment with  the  Company
within  one  hundred eighty (180) days following the  occurrence,
without  Executive's  consent, of any of  the  following  events:
(i)  a material diminution in the Executive's position, authority
or  responsibilities;  (ii)  any involuntary  relocation  of  the
location  where  Executive primarily performs  his  services;  or
(iii)  any  other material breach by the Company of any  material
provision  of  this Agreement; provided that the Executive  shall
have given the Company notice of the event or events constituting
Good  Reason and the Company shall have failed to cure such event
or  events  (to the extent capable of being cured) within  thirty
(30) business days after receipt of such notice.

          (e)  Notice of Termination; Date of Termination.

               (i)  Notice of Termination.  Any termination of Executive's
     employment by the Company or by Executive (other than as a result
     of Executive's death) shall be communicated by a written Notice
     of Termination addressed to the other party to this Agreement.  A
     "Notice  of  Termination" shall mean a notice  stating  that
     Executive or the Company, as the case may be, is electing to
     terminate Executive's employment with the Company (and thereby
     terminating  the  Employment Period), stating  the  proposed
     effective date of such termination, indicating the  specific
     provision of this Section 8 under which such termination is being
     effected and, if applicable, setting forth in reasonable detail
     the  circumstances  claimed to provide the  basis  for  such
     termination.  Any Notice of Termination given by an Executive
     must specify an effective date of termination which is at least
     thirty (30) days after the giving of the Notice of Termination.

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               (ii) Date of Termination.  The term "Date of Termination" shall
     mean (i) if Executive's employment is terminated by his death,
     the date of his death; and (ii) if Executive's employment is
     terminated  for  any  other reason, the  effective  date  of
     termination  specified in such Notice of  Termination.   The
     Employment Period shall expire on the Date of Termination.

          (f)  Payments Upon Certain Terminations.

               (i)  In the event of a termination of Executive's employment by
     the Company Without Cause or by Executive's resignation from
     employment for Good Reason during the Employment Period, the
     Company shall pay to Executive (or, following his death,  to
     Executive's estate), within thirty (30) days of the Date  of
     Termination, (x) his Base Salary through the Date of Termination,
     to the extent not previously paid; (y) the pro-rata amount of the
     Annual Bonus (based on the amount paid for the previous year)
     which  is  accrued  through  the date  of  termination;  and
     (z) reimbursement for any unreimbursed business expenses incurred
     by Executive prior to the Date of Termination that are subject to
     reimbursement pursuant to the terms hereof, and payment for paid
     time off accrued as of the Date of Termination but unused (such
     amounts under clauses (x), (y) and (z), collectively the "Accrued
     Obligations").  In addition, in the event of any such termination
     of Executive's employment, if Executive executes and delivers to
     the Company a Release and Discharge of All Claims substantially
     in the form approved by the Company, Executive (or, following his
     death, Executive's estate) shall be entitled to the following
     payments and benefits:

                    (A)  the Executive's Base Salary (at the Base Salary being
          paid on the Date of Termination), for the longer of: (x) the
          remaining Employment Period or (y) one (1) year (the "Severance
          Period"), payable in installments in accordance with the Company's
          regular payroll policies for one year after the Date of Termination,
          with the balance, if any, being paid pursuant to a lump sum payment
          on the one year anniversary date of the Date of Termination; and

                    (B)  the Executive's Annual Bonus (at the amount of the
          Annual Bonus paid to the Executive for the year prior to the Date of
          Termination) which would have been paid to the Executive had
          Executive's employment continued for the Severance Period, duly
          apportioned for any partial year, such amount to be payable to
          Executive on the one year anniversary date of the Date of
          Termination; and

                    (C)  the Executive shall receive "Years of Service" credit
          for the number of years comprising the Severance Period for purposes
          of accruing the Executive's benefit under the Company's Executive
          Retirement Plan and the Final Average Earnings thereunder for the
          Severance Period shall be determined based on the Base Salary
          being paid on the Date of Termination and the Annual Bonus paid
          to the Executive for the year prior to the Date of Termination;

<PAGE> 5

                    (D)  the Executive shall automatically vest in all employee
          welfare  and  benefit plans in which the Executive  was
          participating as of the Date of Termination and such benefits
          shall be paid to Executive in accordance with the terms of such
          plans; and

                    (E)  the Company shall provide outplacement services to
          Executive for up to ninety (90) days.

          Executive  shall not have a duty to mitigate the  costs
to the Company under this Section 8(f)(i), nor shall any payments
from  the  Company to Executive hereunder be reduced,  offset  or
canceled  by any compensation or fees earned by (whether  or  not
paid  currently) or offered to Executive during the remainder  of
the  fiscal  year  of  the  Company that  includes  the  Date  of
Termination by a subsequent employer or other Person (as  defined
below  in  Section  18(k)  below) for  which  Executive  performs
services, including, but not limited to, consulting services.

               (ii) If Executive's employment shall terminate upon his death or
     if the Company shall terminate Executive's employment for Cause
     or due to Executive's Disability or Executive shall resign from
     his employment without Good Reason, in any such case during the
     Employment Period, the Company shall pay to Executive (or, in the
     event  of  Executive's  death, to his  estate)  the  Accrued
     Obligations  within thirty (30) days following the  Date  of
     Termination.

               (iii)     Except as specifically set forth in this Section 8(f),
     no termination benefits shall be payable to or in respect of
     Executive's employment with the Company or its Affiliates.

               (iv) The Company shall have the right to apply and set off
     against the Accrued Obligations or any other amounts owing to
     Executive hereunder, any amounts owing by the Executive to the
     Company, whether pursuant to this Agreement or otherwise.

          (g)  Resignation upon Termination.  Effective as of any Date of
Termination under this Section 8 or otherwise as of the  date  of
Executive's termination of employment with the Company, Executive
shall  resign, in writing, from all Board memberships  and  other
positions  then  held by him, or to which he has been  appointed,
designated or nominated, with the Company and its Affiliates.

     9.   Confidentiality.

          (a)  Executive acknowledges and agrees that the terms of this
Agreement,  including all addendums and attachments  hereto,  are
confidential.   Executive agrees not to disclose any  information
contained  in  this Agreement, or the fact of this Agreement,  to
anyone,  other than to Executive's lawyer, financial  advisor  or
immediate family members.  If Executive discloses any information
contained  in this Agreement to his lawyer, financial advisor  or
immediate family members as permitted herein, Executive agrees to
immediately tell each such

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individual  that he or she  must  abide  by  the  confidentiality
restrictions   contained   herein  and    keep   such information
confidential as well.

          (b)  Executive agrees that during his employment with the Company
and  thereafter,  Executive  will  not,  directly  or  indirectly
(i)  disclose  any Confidential Information to any Person  (other
than,  only with respect to the period that Executive is employed
by  the Company, to an Executive of the Company who requires such
information  to  perform his or her duties for the  Company);  or
(ii) use any Confidential Information for Executive's own benefit
or  the  benefit of any third party.  "Confidential  Information"
means   confidential,   proprietary  or  commercially   sensitive
information  relating to (i) the Company or  its  Affiliates,  or
members  of their management or boards; or (ii) any third parties
who  do  business  with the Company or its Affiliates,  including
customers  and  suppliers.   Confidential  Information  includes,
without  limitation, marketing plans, business  plans,  financial
information    and   records,   operation   methods,    personnel
information,  drawings,  designs, information  regarding  product
development,  other  commercial or business information  and  any
other  information  not available to the public  generally.   The
foregoing   obligation  shall  not  apply  to  any   Confidential
Information that has been previously disclosed to the  public  or
is  in  the  public domain (other than by reason of a  breach  of
Executive's  obligations  to hold such  Confidential  Information
confidential).  If Executive is required or requested by a  court
or  governmental  agency  to  disclose Confidential  Information,
Executive  must  notify the General Counsel  of  the  Company  in
writing  of  such disclosure obligation or request no later  than
three business days after Executive learns of such obligation  or
request, and permit the Company to take all lawful steps it deems
appropriate to prevent or limit the required disclosure.

     10.  Partial Restraint on Post-termination Competition.

          (a)  Definitions.  For the purposes of this Section 10, the
following definitions shall apply:

               "Competitor"   means  any  business,   individual,
partnership,  joint  venture, association, firm,  corporation  or
other entity, other than the Company and its affiliates, that  is
engaging  or  actively planning to engage, wholly or  partly,  in
activities  ("Competitive Activities") that directly  compete  or
would  compete with the Company or its affiliates in the  Company
Activities   (as  hereinafter  defined)  in  the  Territory   (as
hereinafter defined).

               "Competitive  Position" means (i)  the  direct  or
indirect  ownership  or  control of  all  or  any  portion  of  a
Competitor;  or  (ii)  any employment or  independent  contractor
arrangement with any Competitor whereby Executive will serve such
Competitor  in  any  managerial, sales, executive  or  consultant
capacity with respect to Competitive Activities in the Territory.

               "The  Company Activities" means the businesses  of
animal production and processing, meat processing (including  any
further  processed  meats)  and fast  food  restaurants  and  any
business   acquired  or  commenced  by  the  Company  after   the
Commencement Date which has sales in excess of $100 million.

<PAGE> 7

               "Non-compete Period" or "Non-solicitation  Period"
means  the period beginning with the Commencement Date and ending
on:  (x) the two year anniversary date of the Date of Termination
with  respect  to any termination of employment by the  Executive
pursuant  to Section 8(d) above by Executive's resignation  other
than for Good Reason; or (y) the one (1) year anniversary date of
the Date of Termination with respect to any other termination  of
employment hereunder.

               "Territory"  means  the entire  United  States  of
America,  which  Executive  acknowledges  and  agrees   are   the
geographic  areas  in which the Company engages  in  the  Company
Activities.

          (b)  Non-competition.

               (i)  The parties hereto acknowledge that Executive, by virtue of
     his  position with and responsibilities to the  Company,  is
     engaging and is expected to continue to engage during the Term in
     the Company Activities throughout the Territory and has executive
     management  responsibilities with  respect  to  the  Company
     responsibilities  which  extend  throughout  the  Territory.
     Executive acknowledges that to protect adequately the interest of
     the Company in the business of the Company it is essential that
     any  non-compete covenant with respect thereto cover all the
     Company Activities and the entire Territory.

               (ii) Executive hereby agrees that, during the Non-compete
     Period, Executive will not, either directly or indirectly, alone or in
     conjunction  with any other party, accept or  enter  into  a
     Competitive  Position.  Executive shall notify  the  Company
     promptly  in  writing if Executive receives an  offer  of  a
     Competitive Position during the Non-compete Period, and such
     notice shall describe all material terms of such offer.

          Nothing  contained  in this Section 10  shall  prohibit
Executive from (i) acquiring not more than five percent  (5%)  of
any  company whose common stock is publicly traded on a  national
securities  exchange  or  in  the  over-the-counter  market;   or
(ii)  owning  less than a controlling interest in any  fast  food
restaurant  or  restaurants,  so  long  as  Executive  does   not
participate  in the management of the operation in  manner  which
materially  detracts from his ability to perform his  obligations
hereunder.

          (c)  Severability.  If a judicial or arbitral determination is
made that any of the provisions of this Section 10 constitutes an
unreasonable  or  otherwise  unenforceable  restriction   against
Executive  the  provisions of this Section 10 shall  be  rendered
void   only  to  the  extent  that  such  judicial  or   arbitral
determination  finds  such  provisions  to  be  unreasonable   or
otherwise  unenforceable  with respect  to  Executive.   In  this
regard,  Executive  hereby agrees that any judicial  or  arbitral
authority  construing this Agreement shall sever  or  reform  any
portion of the Territory, any prohibited business activity or any
time  period  from the coverage of this Agreement  to  allow  the
covenants in this Section 10 to be enforced to the maximum extent
authorized by law, and shall then enforce the covenants  in  this
Section 10 as so severed or reformed.

<PAGE> 8

          (d)  Reasonable Restrictions.  Executive acknowledges that the
restrictions  and  covenants  contained  in  this  Agreement  are
reasonably  necessary  to  protect the  goodwill  and  legitimate
business  interests of the Company, are not overbroad,  overlong,
or unfair (including in duration and scope), and will not curtail
Executive's   ability  to  earn  a  livelihood  upon  Executive's
termination of employment with the Company.

     11.  Non-Solicitation of Employees and Customers.  During the
period of Executive's employment with the Company and for the one-
year   period   following  the  termination  of  his  employment,
Executive  shall  not,  directly or  indirectly,  by  himself  or
through any third party, whether on Executive's own behalf or  on
behalf of any other Person or entity, (i) solicit or endeavor  to
solicit,  employ or retain; (ii) interfere with the  relationship
of the Company or any of its Affiliates with; or (iii) attempt to
establish a business relationship with (A) any natural person who
is  or  was  (during Executive's employment with the Company)  an
employee  or engaged by the Company or any Affiliate  to  provide
services to it, or (B) any customer of the Company or any of  its
Affiliates who was a customer at any time during which  Executive
was an employee of the Company.

     12.  Work Product.  Executive agrees that all of Executive's work
product (created solely or jointly with others, and including any
intellectual  property  or moral rights in  such  work  product),
given,  disclosed, created, developed or prepared  in  connection
with  Executive's  employment with the Company,  whether  ensuing
during  or  after Executive's employment with the Company  ("Work
Product") shall exclusively vest in and be the sole and exclusive
property of the Company and shall constitute "work made for hire"
(as  that term is defined under Section 101 of the U.S. Copyright
Act, 17 U.S.C. section 101) with the Company being the person for
whom the  work was prepared.  In the event  that  any  such  Work
Product is deemed not to be a "work  made  for  hire" or does not
vest   by  operation  of  law  in  the  Company, Executive hereby
irrevocably  assigns,  transfers  and  conveys  to  the  Company,
exclusively and perpetually, all right, title and interest  which
Executive  may have or  acquire  in  and  to  such  Work  Product
throughout the world, including without limitation any copyrights
and  patents,  and  the  right to secure registrations, renewals,
reissues, and extensions thereof.  The Company and its Affiliates
or their designees shall have  the  exclusive  right to make full
and complete use  of,  and  make  changes  to  all  Work  Product
without  restrictions   or liabilities of any kind, and Executive
shall not have  the  right  to use any such materials, other than
within  the   legitimate  scope  and   purpose   of   Executive's
employment   with   the    Company.  Executive   shall   promptly
disclose to the Company the creation  or existence  of  any  Work
Product and shall take whatever additional lawful  action may  be
necessary, and sign whatever documents  the Company  may require,
in order to secure and vest in the  Company or  its designee  all
right, title and interest in  and  to all  Work Product  and  any
intellectual property rights therein  (including full cooperation
in  support of any Company applications for patents and copyright
or trademark registrations).

     13.  Return of Company Property.  In the event of termination of
Executive's employment for any reason, Executive shall return  to
the   Company  all  of  the  property  of  the  Company  and  its
Affiliates,   including  without  limitation  all  materials   or
documents  containing or pertaining to Confidential  Information,
and  including without limitation, any company car, all computers
(including  laptops),  cell  phones,  keys,  PDAs,  Blackberries,
credit  cards,  facsimile machines, card access  to  any  Company
building,  customer  lists, computer disks,  reports,  files,  e-

<PAGE> 9

mails,  work papers, Work Product, documents, memoranda,  records
and  software,  computer access codes or disks and  instructional
manuals,  internal  policies,  and  other  similar  materials  or
documents  which  Executive used, received  or  prepared,  helped
prepare  or  supervised  the preparation of  in  connection  with
Executive's employment with the Company.  Executive agrees not to
retain any copies, duplicates, reproductions or excerpts of  such
material or documents.

     14.  Compliance  With Company Policies.  During  Executive's
employment with the Company, Executive shall be governed  by  and
be  subject to, and Executive hereby agrees to comply  with,  all
Company  policies  applicable  to  employees  generally   or   to
employees   at   Executive's  grade  level,   including   without
limitation, the Company's Code of Business Ethics and Conduct, in
each  case, as any such policies may be amended from time to time
in the Company's sole discretion (collectively, the "Policies").

     15.  Injunctive Relief with Respect to Covenants; Forum, Venue
and  Jurisdiction.   Executive acknowledges  and  agrees  that  a
breach by Executive of any of Section 9, 10, 11, 12, 13 or 14  is
a  material breach of this Agreement and that remedies at law may
be  inadequate to protect the Company and its Affiliates  in  the
event  of such breach, and, without prejudice to any other rights
and remedies otherwise available to the Company, Executive agrees
to  the  granting of injunctive relief in the Company's favor  in
connection  with  any such breach or violation without  proof  of
irreparable harm, plus attorneys' fees and costs to enforce these
provisions.  Executive further acknowledges and agrees  that  the
Company's  obligations  to pay Executive any  amount  or  provide
Executive  with  any benefit or right pursuant to  Section  8  is
subject  to  Executive's compliance with Executive's  obligations
under Sections 9 through 14 inclusive, and that in the event of a
breach  by Executive of any of Section 9, 10, 11, 12, 13  or  14,
the  Company  shall  immediately cease paying such  benefits  and
Executive shall be obligated to immediately repay to the  Company
all amounts theretofore paid to Executive pursuant to Section  8.
In  addition, if not repaid, the Company shall have the right  to
set  off  from any amounts otherwise due to Executive any amounts
previously paid pursuant to Section 8(f) (other than the  Accrued
Obligations).   Executive further agrees that  the  foregoing  is
appropriate for any such breach inasmuch as actual damages cannot
be  readily  calculated, the amount is fair and reasonable  under
the  circumstances, and the Company would suffer irreparable harm
if  any  of  these  Sections  were breached.   All  disputes  not
relating  to any request or application for injunctive relief  in
accordance  with this Section 15 shall be resolved by arbitration
in accordance with Section 18(b).

     16.  Assumption of Agreement.  The Company shall require any
Successor  thereto, by agreement in form and substance reasonably
satisfactory  to  Executive, to expressly  assume  and  agree  to
perform this Agreement in the same manner and to the same  extent
that  the  Company would be required to perform  it  if  no  such
succession  had  taken place.  Failure of the Company  to  obtain
such  agreement prior to the effectiveness of any such succession
shall  be  a breach of this Agreement and shall entitle Executive
to  compensation from the Company in the same amount and  on  the
same  terms  as  Executive  would be entitled  hereunder  if  the
Company  had terminated Executive's employment Without  Cause  as
described  in Section 8, except that for purposes of implementing
the  foregoing,  the  date on which any such  succession  becomes
effective shall be deemed the Date of Termination.

<PAGE> 10

     17.  Entire Agreement.  This Agreement constitutes the entire
agreement  among the parties hereto with respect to  the  subject
matter   hereof.    All   prior  correspondence   and   proposals
(including, but not limited to, summaries of proposed terms)  and
all prior promises, representations, understandings, arrangements
and  agreements relating to such subject matter are merged herein
and superseded hereby.

     18.  Miscellaneous.

          (a)  Binding Effect; Assignment.  This Agreement shall be binding
on and inure to the benefit of the Company and its Successors and
permitted assigns.  This Agreement shall also be binding  on  and
inure  to  the  benefit  of Executive and his  heirs,  executors,
administrators  and legal representatives.  This Agreement  shall
not  be  assignable by any party hereto without the prior written
consent of the other parties hereto.  The Company may effect such
an  assignment  without prior written approval of Executive  upon
the  transfer of all or substantially all of its business  and/or
assets  (by whatever means), provided that the Successor  to  the
Company  shall  expressly  assume  and  agree  to  perform   this
Agreement in accordance with the provisions of Section 16.

          (b)  Arbitration.  The Company and Executive agree that any
dispute  or controversy arising under or in connection with  this
Agreement  shall  be  resolved by final and  binding  arbitration
before   the  American  Arbitration  Association  ("AAA").    The
arbitration shall be conducted in accordance with AAA's  National
Rules for the Resolution of Employment Disputes then in effect at
the  time of the arbitration.  The arbitration shall be  held  in
the  general Kansas City, Kansas metropolitan area.  The  dispute
shall  be heard and determined by one arbitrator selected from  a
list  of arbitrators who are members of AAA's Regional Employment
Dispute  Resolution roster.  If the parties cannot agree  upon  a
mutually  acceptable arbitrator from the list, each  party  shall
number  the names in order of preference and return the  list  to
AAA  within ten (10) days from the date of the list.  A party may
strike  a name from the list only for good cause.  The arbitrator
receiving  the highest ranking by the parties shall be  selected.
Depositions, if permitted by the arbitrator, shall be limited  to
a maximum of two (2) per party and to a maximum of four (4) hours
in  duration.   The arbitration shall not impair  either  party's
right  to  request  injunctive  or  other  equitable  relief   in
accordance with Section 15 of this Agreement.

          (c)  Governing Law.  This Agreement shall be governed by and
construed  in  accordance with the laws of the  State  of  Kansas
without reference to principles of conflicts of laws.

          (d)  Taxes.  The Company may withhold from any payments made
under  this  Agreement all applicable taxes, including,  but  not
limited  to,  income, employment and social insurance  taxes,  as
shall be required by law.

          (e)  Amendments.  No provision of this Agreement may be modified,
waived   or  discharged  unless  such  modification,  waiver   or
discharge is approved by the Company and is agreed to in  writing
by  Executive.  No waiver by any party hereto at any time of  any
breach  by  any  other party hereto of, or compliance  with,  any
condition or provision of this Agreement to be

<PAGE> 11

performed by such other party shall be deemed a waiver of similar
or  dissimilar  provisions  or  conditions  at  the  same  or  at
any prior or subsequent time.  No waiver of any provision of this
Agreement  shall be implied from any course of dealing between or
among  the parties hereto or from any failure by any party hereto
to  assert   its   rights  hereunder on any occasion or series of
occasions.

          (f)  Severability.  In the event that any one or more of the
provisions of this Agreement shall be or become invalid,  illegal
or  unenforceable  in  any respect, the  validity,  legality  and
enforceability of the remaining provisions contained herein shall
not be affected thereby.

          (g)  Notices.  Any notice or other communication required or
permitted  to be delivered under this Agreement shall be  (i)  in
writing;  (ii)  delivered personally, by courier  service  or  by
certified  or  registered mail, first-class postage  prepaid  and
return  receipt requested; (iii) deemed to have been received  on
the  date  of  delivery or, if mailed, on the third business  day
after  the mailing thereof; and (iv) addressed as follows (or  to
such  other  address  as  the  party  entitled  to  notice  shall
hereafter designate in accordance with the terms hereof):

               (i)  If to the Company, to it at:

                    Seaboard Corporation
                    9000 West 67th Street
                    Shawnee Mission, Kansas  66202
                    Attention:     General Counsel
                    Telephone:     (913) 676-8925
                    Facsimile:     (913) 676-8978

               (ii) if to Executive, to his residential address as currently on
     file with the Company.

          (h)  Voluntary Agreement; No Conflicts.  Executive represents
that  he  is  entering into this Agreement voluntarily  and  that
Executive's  employment hereunder and compliance with  the  terms
and conditions of this Agreement will not conflict with or result
in  the  breach by Executive of any agreement to which  he  is  a
party or by which he or his properties or assets may be bound.

          (i)  Counterparts/Facsimile.  This Agreement may be executed in
counterparts  (including by facsimile), each of  which  shall  be
deemed an original and all of which together shall constitute one
and the same instrument.

          (j)  Headings.  The section and other headings contained in this
Agreement are for the convenience of the parties only and are not
intended  to  be  a  part  hereof or to  affect  the  meaning  or
interpretation hereof.

<PAGE> 12

          (k)  Certain other Definitions.

               "Affiliate" with respect to any Person, means  any
other  Person that, directly or indirectly through  one  or  more
intermediaries,  Controls, is Controlled by, or is  under  common
Control with the first Person, including, but not limited  to,  a
Subsidiary of any such Person.

               "Control"  (including, with correlative  meanings,
the  terms  "Controlling,"  "Controlled  by"  and  "under  common
Control  with"):   with  respect to any Person,  shall  mean  the
possession,  directly or indirectly, of the power  to  direct  or
cause  the  direction  of the management  and  policies  of  such
Person,  whether through the ownership of voting  securities,  by
contract or otherwise.

               "Person"  any  natural person, firm,  partnership,
limited  liability  company, association,  corporation,  company,
trust, business trust, governmental authority or other entity.

               "Subsidiary"   with respect to  any  Person,  each
corporation  or  other Person in which the first Person  owns  or
Controls,  directly  or  indirectly,  capital  stock   or   other
ownership interests representing fifty percent (50%) or  more  of
the  combined  voting power of the outstanding  voting  stock  or
other ownership interests of such corporation or other Person.

               "Successor"  of  a  Person  means  a  Person  that
succeeds to the first Person's assets and liabilities by  merger,
liquidation, dissolution or otherwise by operation of law,  or  a
Person  to  which  all  or substantially all  the  assets  and/or
business of the first Person are transferred.

                     SIGNATURE PAGE FOLLOWS

<PAGE> 13

     IN  WITNESS  WHEREOF,  the Company has  duly  executed  this
Agreement  by  its authorized representatives, and Executive  has
hereunto  set  his hand, in each case effective as  of  the  date
first above written.

THIS  AGREEMENT  CONTAINS A PROVISION REQUIRING THAT  ARBITRATION
PURSUANT  TO THE AMERICAN ARBITRATION ASSOCIATION NATIONAL  RULES
FOR  THE RESILUTION OF EMPLOYMENT DISPUTES IS THE EXCLUSIVE MEANS
FOR  RESOLVING ANY DISPUTE BETWEEN THE PARTIES HERETO AS TO  THIS
AGREEMENT.

                                   SEABOARD FARMS, INC.

                                   By:  /s/ Robert L. Steer
                                        Robert L. Steer
                                        Vice President

                                   Executive:

                                   By:  /s/ Rodney K. Brenneman
                                        Rodney K. Brenneman

<PAGE> 14_

Exhibit 10.1

 

EMPLOYMENT AGREEMENT

AGREEMENT made and entered into as of
July 14, 2005, by and between SEITEL INC., a Delaware corporation (together
with its successors and assigns, the "Company"), and William Restrepo (the
"Executive").

W I T N E S S E T H

WHEREAS, the Company desires to employ
the Executive and to enter into an agreement embodying the terms of such
employment (this "Agreement") and the Executive desires to enter into this
Agreement and to accept such employment, subject to the terms and provisions of
this Agreement;

NOW, THEREFORE, in consideration of the
premises and mutual covenants contained herein and for other good and valuable
consideration, the receipt of which is mutually acknowledged, the Company and
the Executive (individually a "Party" and together the "Parties") agree as
follows:

1.                 
Definitions.

(a)               
"Affiliate" of a specified person or entity shall mean a person or
entity that, directly or indirectly, controls, is controlled by, or is under
common control with, the person or entity specified.  For the purposes of the
term "Affiliate," control with respect to a Person, means the possession,
directly or indirectly, of the power to (i) vote 10% or more of
the securities having ordinary voting power for the election of directors (or
comparable positions of such Person) or (ii) direct or cause the direction of the
management and policies of such Person, whether through voting of securities,
by contract, or otherwise, and the terms controlling and controlled have
meanings correlative to the foregoing.

(b)              
"Base Salary" shall mean the annualized salary provided for in Section 4
below.

(c)               
"Beneficial Owner" shall have the meaning ascribed to such term in Rule
13d-3 under the Securities Exchange Act of 1934 and any successor to such
Rule.  

(d)              
"Board" shall mean the Board of Directors of the Company.

(e)               
"Cause" shall mean:

(i)                 willful misconduct or gross negligence by the Executive in the
performance of his duties under this Agreement; 

(ii)                 breach of a this Agreement by the Executive, which, if curable, is not
substantially cured to the satisfaction of the Company determined by the
Company in its sole discretion within ten (10) days after Executive's receipt
of written notice from the Company of such breach;

(iii)                failure by the Executive to perform his duties, if not cured to the
satisfaction of the Company determined by the Company within ten (10) days
after Executive's receipt of written notice from the Company of such breach,
other than a failure resulting from Executive's incapacity due to Disability;

(iv)             
  a material violation by the Executive of the Company's Code of Business
Conduct or the Company's policies or procedures; or

(v)               
conviction of the Executive of, or a plea of nolo contrendere to, a
felony, or his engagement in fraud or other willful misconduct which is
injurious to the business or reputation of the Company.

(f)                
"Change in Control."  A "Change in Control" shall be deemed to have
occurred upon the occurrence of any of the following events:

(i)                 any Person (other than the Company, any trustee or other fiduciary
holding securities under any employee benefit plan of the Company, or any
company owned, directly or indirectly, by the stockholders of the Company
immediately prior to the occurrence with respect to which the evaluation is
being made in substantially the same proportions as their ownership of the
common stock of the Company) acquires securities of the Company and immediately
thereafter is the Beneficial Owner (except that a Person shall be deemed to be
the Beneficial Owner of all shares that any such Person has the right to
acquire pursuant to any agreement or arrangement or upon exercise of conversion
rights, warrants or options or otherwise, without regard to the sixty (60)-day
period referred to in Rule 13d-3 under the Exchange Act), directly or
indirectly, of securities of the Company representing 50% or more of the
combined voting power of the Company's then outstanding securities (except that
an acquisition of original issue securities directly from the Company shall not
be deemed an acquisition for purposes of this clause (i));

(ii)               
during any period of two consecutive years, individuals who at the
beginning of such period constitute the Board, and any new director (other than
a director designated by a person who has entered into an agreement with the
Company to effect a transaction described in clause (i), (iii), or (iv) of this
paragraph) whose election by the Board or nomination for election by the
Company's stockholders was approved by a vote of at least two thirds of the
directors then still in office who either were directors at the beginning of
the two-year period or whose election or nomination for election was previously
so approved but excluding for this purpose any such new director whose initial
assumption of office occurs as a result of either an actual or threatened
election contest (as such terms are used in Rule 14a-11 of Regulation 14A
promulgated under the Exchange Act) or other actual or threatened solicitation
of proxies or consents by or on behalf of an individual, corporation,
partnership, group, associate or other entity or Person other than the Board,
cease for any reason to constitute at least a majority of the Board; 

(iii)              
the consummation of a merger or consolidation of the Company with any
other entity, other than (i) a
merger or consolidation which would result in the voting securities of the
Company outstanding immediately prior thereto continuing to represent (either
by remaining outstanding or by being converted into voting securities of the
surviving or resulting entity) more than 50% of the combined voting power of
the surviving or resulting entity outstanding immediately after such merger or
consolidation or (ii) a merger or
consolidation in which no premium is intended to be paid to any shareholder
participating in the merger or consolidation;

(iv)               the stockholders of the Company approve a plan or agreement for the sale
or disposition of all or substantially all of the consolidated assets of the
Company (other than such a sale or disposition immediately after which such
assets will be owned directly or indirectly by the stockholders of the Company,
in substantially the same proportions as their ownership of the common stock of
the Company immediately prior to such sale or disposition) in which case the
Board shall determine the effective date of the Change in Control resulting therefrom; or

(v)               
any other event occurs which the Board determines, in its discretion,
would materially alter the structure of the Company or its ownership.

(g)               
"Commencement Date" shall mean July 25, 2005.

(h)               
"Date of Termination" shall mean:

(i)                 
if the Executive's employment is terminated by the Company, the date the
Company informs the Executive that his employment is so terminated;

(ii)               
if the Executive voluntarily resigns his employment, the date the Company
receives notice from the Executive that Executive is terminating his
employment;

(iii)                if the Executive's employment is terminated by reason of death, the date
of death; or

(iv)               if the Executive's employment is terminated for any reason (voluntarily
or involuntarily) after a Change in Control other than for Cause, the
applicable of the date the Company informs the Executive he is terminated or
the date the Executive provides notice to the Company of his termination.

(i)                 "Disability" shall mean the Executive's inability, due to physical or
mental incapacity, to substantially perform his duties and responsibilities for
a period of ninety (90) days during any twelve-month period as determined by
the Company.  The Executive agrees to submit to any examination that is necessary
for a determination of Disability and agrees to provide any information
necessary for a determination of Disability, including any information that is
protected by the Health Insurance Portability and Accountability Act.

(j)                
"Good Reason" shall mean the occurrence of any of the following during
the Term without the Executive's consent: 

(i)                 
a material diminution in the Executive's title and duties as
normally-associated with the position of CFO of the Company (as defined in the
first sentence of Section 3 below) without regard to the additional duties and
positions to which he may be assigned from time to time with respect to
affiliates or subsidiaries as described in the second sentence of Section 3
below;

(ii)                 a reduction in the Executive's Base Salary; 

(iii)                a change in reporting structure so that the Executive  reports to
someone other than the President of the Company; or

(iv)                the relocation of the Executive's principal place of employment to a
location more than fifty (50) miles from his principal place of employment with
the Company on the Commencement Date.

Anything herein to the contrary
notwithstanding, the Executive shall not be entitled to resign for Good Reason
unless the Executive gives the Company written notice of the event constituting
"Good Reason" within 60 days of the occurrence of such event and the Company
fails to cure such event within 30 days after receipt of such notice.

(k)              
 "Initial Term" shall mean the period beginning on the Commencement Date
and ending at the close of business on the day before the second anniversary of
the Commencement Date.

(l)                 "Person" shall have the meaning ascribed to such term in Section 3(a)(9)
of the Securities Exchange Act of 1934 and used in Sections 13(d) and 14(d)
thereof, and shall include a "group" as defined in Section 13(d) thereof. 

(m)             
"Term" shall have the meaning ascribed to such term in Section 2 below.

2.                 
Term of Employment.

The term of the Executive's employment
hereunder shall begin on the Commencement Date and end at the close of business
on the day before the second anniversary of the Commencement Date (the "Initial
Term"); provided, however, that the Initial Term shall thereafter be
automatically extended for additional one-year periods (the Initial Term and
any one-year extension of employment hereunder shall each be referred to
as the "Term") unless either the Company or the Executive gives the other
written notice at least thirty (30) days prior to the then-scheduled expiration
of the Term that such Party is electing not to so extend the Term.
Notwithstanding the foregoing, the Term shall end on the date on which the
Executive's employment is terminated by either Party in accordance with the
provisions herein.  The period from the Commencement Date through the Date of
Termination shall be the "Employment Period."

3.                 
Position; Duties and Responsibilities.

During the Term, the Executive shall be
employed as the Chief Financial Officer ("CFO") of the Company and shall
perform other duties and responsibilities as reasonably determined by the
President of the Company consistent with the duties and responsibilities
normally associated with such position in the Company.  In addition, Executive
from time to time may be assigned duties and hold positions or offices with
subsidiaries or affiliates of the Company as the President of the Company
and/or the Board may determine in their sole discretion.  The Executive, in
carrying out his duties under this Agreement, shall report to the President of
the Company.  The Executive shall devote all of his business time, energy and
best efforts to the business and affairs of the Company. Anything herein to the
contrary notwithstanding, nothing shall preclude the Executive from (i) subject
to the reasonable approval of the Board, serving on the boards of directors of trade
associations and/or charitable organizations, (ii) engaging in charitable
activities and community affairs and (iii) managing his personal investments
and affairs, provided that the activities described in the preceding clauses
(i) through (iii) do not interfere with the proper performance of his duties
and responsibilities for the Company or violate any term of this Agreement,
including but not limited to, Section 10.

4.                 
Base Salary.

During the Term, the Executive shall be paid
an annualized Base Salary of $240,000 payable in accordance with the regular
payroll practices of the Company. During the Term, the Base Salary may be
increased, but not decreased, from time to time by the Board or its
Compensation Committee. The Executive shall not be entitled to any compensation
for service as a member of the Board or for service as an officer or member of
any board of directors of any Affiliate.

5.                 
Bonus.

Beginning in calendar year 2005, the "Cash Bonus" for
Executive shall be determined under the annual incentive plan or program of the
Company ("Annual Incentive Plan") and subject to the goals, terms and
conditions of such plan or program as determined by the Board or Compensation
Committee of the Board (the "Compensation Committee") in its sole discretion on
a calendar year basis during the Term. During the Initial Term, Executive will
be eligible to receive up to 100% of his Base Salary amount as a Cash Bonus.
The Cash Bonus will be payable when bonuses are paid under Company policies and
procedures or as determined by the Board or Compensation Committee. 

6.                 
Stock Options and Other Equity Compensation.

During the Term, Executive shall receive under
the terms of the Annual Incentive Plan for each calendar year an award of stock
options or other equity-based compensation in an amount equal to 50% of his
Base Salary (the "Guaranteed Equity-Based Award").  If Executive meets the
goals, terms and conditions to receive a Cash Bonus, he shall receive an
additional award of stock options or other equity-based awards for such
calendar year under the Plan in an amount equal to 50% of the Cash Bonus (the
"Incentive Equity-Based Award").  For calendar year 2005, Executive will
receive (a) a pro rata portion of the Guaranteed Equity-Based Award based on the
number of days from the Commencement Date through December 31, 2005, divided by
365, and (b) a pro rata portion of any Incentive Equity-Based Award, with such
proration determined by the Compensation Committee in its sole discretion.

As an inducement to join the Company, as soon
as administratively possible after the Commencement Date, the Company shall
grant Executive a "Restricted Stock Grant" for 90,000 shares of Company common
stock as restricted stock, which shall vest as to 33.3% of such shares one year
from date of grant and an additional 33.3% of such shares two years from date
of grant, and Executive shall be 100% vested in such shares three years from
the date of grant.  

All awards under Sections 5 and 6 shall be
subject to the terms of the Company's 2004 Stock Option Plan, or any successor
thereto (the "Plan") and the award agreements granting such awards as
determined by the Compensation Committee in its sole discretion.

7.                 
Employee Benefit Programs.

During the Term, the Executive shall be
entitled to participate in all employee savings and welfare benefit plans and
other employee programs made available to the Company's senior-level
executives, as such plans or programs may be amended and as may be in effect
from time to time, including, without limitation, savings and other retirement
plans or programs, medical, dental, hospitalization, short-term and long-term
disability and life insurance plans, accidental death and dismemberment
protection, travel accident insurance, and any deferred compensation plans or
programs, provided that Executive's eligibility and participation shall be
subject to and governed by the terms and conditions of the applicable plan or
program.  Notwithstanding the foregoing, nothing contained herein shall require
the Company to establish any particular employee benefit plan or program.

8.                 
Reimbursement of Business and Other Expenses; Perquisites; Vacation.

(a)               
During the Term, the Executive is authorized to incur reasonable and
necessary business expenses in carrying out his duties and responsibilities
under this Agreement and the Company shall promptly reimburse him for such
expenses incurred in connection with carrying out the business of the Company,
subject to documentation in accordance with the Company's policy.

(b)                
The Executive shall be entitled to four (4) weeks paid vacation per
year.

9.                 
Benefits Upon Termination of Employment.

(a)               
Termination Without Cause by the Company or Resignation for Good Reason
prior to a Change in Control.

In the event the
Executive's employment is terminated without Cause by the Company (other than
upon death or Disability) or the Executive resigns for Good Reason prior to a
Change in Control, the Executive shall be entitled to the following:

(i)                 
Base Salary earned and payable through the Date of Termination;

(ii)                 any unpaid Cash Bonus earned and accrued with respect to any year
preceding the Date of Termination and payable when bonuses for such year are
paid to other Company executives subject to the terms or requirements of such
bonus as may be established by the Board or Compensation Committee; 

(iii)                an amount equal to two times the Executive's annual Base Salary as in
effect on the Date of Termination to be paid pro rata over a period of
twenty-four months, the first payment of which shall commence in the first
month following the Date of Termination in accordance with the Company's
payroll practices;

(iv)               outstanding stock option, equity and performance awards shall be vested
and exercised in accordance with the applicable plan and award agreements;

(v)               
continued participation for twelve (12) months by the Executive and his
eligible dependents in the Company's group medical and dental benefits plan in
which he and his eligible dependents were participating immediately prior to
the Date of Termination, subject to the terms and conditions of the plans as
such plans are amended from time to time.  The Executive shall be required to
continue to pay the employee-paid portion of such coverage during the period of
coverage.  Upon the earlier of twelve (12) months coverage or the date
the Executive becomes eligible for medical coverage under a subsequent
employer's plan, this coverage under the Company's plan shall cease and the
Executive and his dependents, if applicable, may elect group continuation
coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as
amended ("COBRA");

(vi)               any amounts earned, accrued or owing to the Executive but not yet paid
under Section 8; and

(vii)               except as provided in 9(h) below, any payment and benefit in accordance
with the applicable plans and programs of the Company.

(b)              
Termination upon Death. 

In the event the Executive's employment is terminated upon
death, the Executive (or his estate or legal representative, as the case may
be) shall be entitled to:

(i)                 
Base Salary through the Date of Termination;

(ii)                 any unpaid Cash Bonus earned and accrued with respect to any year
preceding the Date of Termination and payable when bonuses for such year are
paid to other Company executives subject to the terms and requirements of such
bonus as may be established by the Board or Compensation Committee;

(iii)                outstanding stock options, equity and performance awards shall be vested
and exercised in accordance with the applicable plan and award agreements;

(iv)                any amounts earned, accrued or owing to the Executive but not yet paid
under Section 8 above; and

(v)                 any other payment and benefit in accordance with applicable plans or
programs of  the Company.

(c)               
Termination Upon Disability.  

In the event Executive is terminated on account of Disability,
the Executive (or his estate or legal representative) shall be entitled to:

(i)                 
Base Salary and the Cash Bonus continued to be paid in accordance with
the Company's normal payroll practices through the earlier of the end of
the Term or one year from the Date of Termination to be reduced by any of
disability insurance payments payable to Executive from any policy, plan or
program sponsored by the Company or its Affiliates;

(ii)               
any unpaid Cash Bonus earned and accrued with respect to any year
preceding the Date of Termination and payable when bonuses for such year are
paid to other Company executives subject to the terms and requirements of such
bonus as may be established by the Board or Compensation Committee;

(iii)              
outstanding stock options, equity and performance awards shall be vested
and exercised in accordance with the applicable plan and award agreements; 

(iv)             
any amounts earned, accrued or owing to the Executive but not yet paid
under Section 8 above; and

(v)               
except as provided in 9(h) below, any other payment and benefit in
accordance with applicable plans or programs of the Company.

(d)               
Termination by the Company for Cause or a Voluntary Resignation by the
Executive. 

In the event the Company terminates the Executive's employment
for Cause or the Executive voluntarily resigns, the Executive shall be entitled
to:

(i)                 
Base Salary through the Date of Termination;

(ii)               
outstanding stock options, equity and performance awards shall be vested
and exercised in accordance with the applicable plan and award agreements; 

(iii)              
any amounts earned, accrued or owing to the Executive but not yet paid
under Section 8 above; and

(iv)                any other payment and benefit in accordance with the applicable plans or
programs of the Company.

(e)               
Termination as a Result of an Election by Company Not to Extend the
Term. 

In the event the Company elects
not to extend the Term pursuant to Section 2 hereof, and the Executive
continues to be employed with the Company to the end of the Term, at the end of
the Term the Executive shall be entitled to:

(i)                 
Base Salary through the Date of Termination;

(ii)               
any unpaid Cash Bonus earned and accrued with respect to any year
preceding the Date of Termination and payable when bonuses for such year are
paid to other Company executives subject to the terms and requirements of such
bonus as may be established by the Board or Compensation Committee;

(iii)              
outstanding stock options, equity and performance awards shall be vested
and exercisable in accordance with the applicable plan and award agreement; 

(iv)               continued participation for twelve (12) months by the Executive and his
eligible dependents in the Company's medical plan in which he and his eligible
dependents were participating immediately prior to the Date of Termination,
pursuant to the plan's terms as may be amended from time to time.  Executive
shall be responsible for the payment of the employee-paid portion of any
premiums for such coverage.  Upon the earlier of the end of the
twelve-month period or the date upon which the Executive is eligible for other
medical coverage with subsequent employer, this coverage shall cease and
Executive or his dependents may elect COBRA continuation coverage in accordance
with COBRA;

(v)               
any amounts earned, accrued or owing to the Executive but not yet paid
under Section 8 above;

(vi)                except as provided in 9(h) below, any payment and benefit in accordance
with the applicable plans or programs of the Company; and

(vii)               a severance payment equal to one times the Executive's annual Base
Salary, as in effect on the Date of Termination, to be paid pro rata over a
period of twelve (12) months, the first payment of which shall commence in the
first month following the Date of Termination in accordance with the Company's
payroll practices.

(f)                 Termination After a Change in Control.  In the event Executive's
employment  is terminated, without Cause, voluntarily or involuntarily after a
Change in Control, the Executive shall be entitled to do the following:

(i)                 
Base Salary earned and payable through the Date of Termination;

(ii)               
any unpaid Cash Bonus earned and accrued with respect to any year
preceding the Date of Termination and payable when bonuses for such year are
paid to other Company executives subject to the terms and requirements of such
bonus as may be established by the Board or Compensation Committee; 

(iii)              
an amount equal to two times the Base Salary, as in effect on the Date
of Termination, to be paid in a lump sum as soon as administratively feasible
after Executive's Date of Termination;

(iv)               outstanding stock options, equity and performance awards shall be vested
and exercised in accordance with the terms of the applicable plan and award
agreements;

(v)               
continued participation for twelve (12) months by the Executive and his
eligible dependents in the Company's group medical and dental plan in which he
and his eligible dependents were participating immediately prior to the Date of
Termination, subject to the terms and conditions of the plans as such plans are
amended from time to time.  The Executive shall be required to continue to pay
the employee-paid portion of such coverage.  Upon the earlier of the
expiration of twelve (12) months or the date the Executive becomes eligible for
medical benefits with a subsequent employer, this coverage shall cease, and the
Executive and his dependents, if applicable, may elect group continuation
coverage under COBRA;

(vi)               any amounts earned, accrued or owing to the Executive but not yet paid
under Section 8; and

(vii)               Except as provided in 9(h) below, any payment and benefit in accordance
with the applicable plans and programs of the Company.

(g)               
If any amount is payable to Executive under any one subsection of
Section 9(a) though (f), no amounts shall be payable under any other
subsection of this Section 9; for example, if any amount is payable to
Executive under Section 9(f), no amounts shall be payable pursuant to Sections 9(a) - (e).

(h)               
Exclusivity of Benefits; Release of Claims. 

Any payments provided pursuant to Section 9(a), (c), (e)
or (f) shall be in lieu of any salary continuation arrangements or any
other severance-type payments under any other severance program of the Company
or its Affiliates.  IN ORDER TO BE ENTITLED TO THE PAYMENTS, RIGHTS AND
OTHER ENTITLEMENTS IN SECTION 9(a), (c), (e) OR (f), THE EXECUTIVE SHALL BE
REQUIRED TO EXECUTE AND DELIVER A GENERAL RELEASE OF CLAIMS AGAINST THE COMPANY
AND ITS AFFILIATES AND THEIR OFFICERS, DIRECTORS AND EMPLOYEES AND THEIR
SUCCESSORS AND ASSIGNS INCLUDING, BUT NOT LIMITED TO, ANY CLAIMS UNDER THE AGE
DISCRIMINATION ACT, IN THE FORM AND SUBJECT TO SUCH TERMS AS PROVIDED TO HIM BY
THE COMPANY AND EXECUTIVE MUST EXECUTE THE RELEASE AND NOT REVOKE SUCH GENERAL
RELEASE WITHIN THE APPLICABLE TIME PERIODS THEREIN.

(i)                 
No Mitigation.  

Executive shall not be required to mitigate the amount of any
payment provided for under this Agreement by seeking other employment and there
shall be no offset against amounts due to him on account of any remuneration or
benefits provided by any subsequent employment he may obtain, except as
expressly provided herein with respect to eligibility for medical benefits with
a subsequent employer.

(j)                
Resignation. 

Notwithstanding any other provision of this Agreement, upon
the termination of the Executive's employment for any reason, unless otherwise
requested by the Board, he shall immediately resign from the Board, from all
boards of directors of any Affiliate of the Company of which he may be a
member, and as a trustee of, or fiduciary to, any employee benefit plans of the
Company or any Affiliate. The Executive hereby agrees to execute any and all
documentation of such resignations upon request by the Company, but he shall be
treated for all purposes as having so resigned upon termination of his employment,
regardless of when or whether he executes any such documentation.

(k)               
Limitation on Amounts Payable.

If all or any portion of the amount of any payment or
continuation of benefits made on account of this Agreement or otherwise would
not be deductible for federal income tax purposes by the Company or its federal
income tax affiliates (or other person who made or is required to make such
payment under this Agreement) by reason of the application of Section 280G of
the Internal Revenue Code of 1986, as amended (the "Code") and the regulations
thereunder, the aggregate amount of such payment shall be reduced until (i) no portion of the total amount of all payments and continuation of benefits under
this Agreement is not deductible by a Company or its tax affiliates (or other
person who made or is required to make such payment) by reason of the
application of that section or (ii) the aggregate amount of such payment and continuation
of benefits is reduced to zero as determined by the Company's independent tax
counsel.

10.                Confidentiality, Assignment of Rights, Non-Competition and
Non-Solicitation.

(a)               
Confidentiality

(i)                 Concurrent herewith and during the Employment Period, the Executive will
create, receive and/or have access to trade secrets or proprietary or
confidential information of the Company and its Affiliates consisting of
written, oral, and visual material including, but not limited to, client lists,
corporation and personal business contacts and relationships, corporation and
personal business opportunities, memoranda, computer disks or files, rolodex
cards or other lists of names, addresses or telephone numbers, financial
information, projects, prospects, potential projects and prospects (including
ideas and concepts for potential prospects) projects and prospects in
development, business strategies, contracts, releases, and other documents,
materials or writings that belong to the Company or its Affiliates including
those which are prepared or created by Executive or come into the possession of
Executive by any means or manner and which relate directly or indirectly to one
or more of the parties which compromise Company or its Affiliates or any of
them (all of the above collectively referred to herein as the "Confidential
Information" or "Trade Secrets").

(ii)               
The Confidential Information is, and at all times shall be and remain,
private and confidential and the sole and exclusive property of, and owned and
controlled by, the Company regardless whether said Confidential Information is
in tangible or intangible form.

(iii)                Except to the extent required in connection with the performance of his
duties for the conduction of the business of the Company, Executive shall not
make copies of any Confidential Information, nor shall Executive remove any
such Confidential Information from Company's office location without the prior
express written consent of Company.  Any and all Confidential Information and
any and all other property of Company that is in the possession or control of
Executive shall be returned to Company forthwith upon the termination of
Executive's employment by Company.

(iv)               Executive shall not, directly or indirectly, verbally or otherwise,
either during the Employment Period or after the Employment Period, provide any
person, firm or entity with any of the Confidential Information or cause, or
permit, the same to be published, disseminated or disclosed (herein
collectively "Disclosure") to any person, firm or entity whatsoever including,
but not limited to, Company's business associates or competitors (herein
collectively "Third Parties") and shall take any and all action possible to
present such Disclosure to any Third Parties except for the sole purpose to
conduct the Company's business.

(v)               
Except as authorized by the foregoing for the conduction of the
Company's business, Executive is aware that any Disclosure of Confidential
Information by Executive to Third Parties will be, and is, a breach of
Executive's employment, a breach of trust and confidence, a breach of fiduciary
duty, invasion of privacy, a misappropriation of Company's trade secrets and/or
exclusive property rights, and may constitute fraud and deceit.

(vi)                Except as authorized by the foregoing for the conduction of the
Company's business, Executive is aware that Disclosure of any of the
Confidential Information to Third Parties could cause Company to suffer major
adverse economic consequences due to the fact that such disclosure could result
in (a) the diversion of Company's business opportunities, and (b) the dilution
or diminution in value of Company's business opportunities and (c) other
adverse consequences in addition to those set forth above.

(vii)               In the event that Executive is compelled by subpoena or other similar
compulsory means to testify or provide evidence in a manner that constitutes
engaging in a prohibited Disclosure of Confidential Information, it shall be
presumed that no violation of this Agreement has occurred with respect to that
compulsory prohibited Disclosure if, immediately upon first learning that such
prohibited Disclosure may be compelled, Executive notifies Company of all facts
relative thereto and makes every effort to assert Company's trade secret
privilege and all other privileges and rights of Company to keep the
Confidential Information, including the prohibited Disclosure, secret and
confidential.  However, under no circumstances shall Executive volunteer to
engage in any such prohibited communication or Disclosure.

(viii)              The Executive hereby sells, assigns and transfers to the Company all of
his right, title and interest in and to all inventions, discoveries,
improvements and copyrightable subject matter (the "rights") which during the
course of his employment are made or conceived by him, alone or with others,
and which are within or arise out of any general field of the Company's
business or arise out of any work he performs, or information he receives
regarding the business of the Company, while employed by the Company. The
Executive shall fully disclose to the Company as promptly as available all
information known or possessed by him concerning the rights referred to in the
preceding sentence, and upon request by the Company and without any further
remuneration in any form to him by the Company, but at the expense of the
Company, execute all applications for patents and for copyright registration,
assignments thereof and other instruments and do all things which the Company
may deem necessary to vest and maintain in it the entire right, title and
interest in and to all such rights.

(b)              
Non-Competition.

(i)                 Executive agrees in consideration of (x) Executive's employment as the CFO pursuant to this Agreement of the Company and the Executive's receipt
of, access to and exposure to Confidential Information or Trade Secrets
herewith and (y) during the Employment Period Executive's receipt of, access to
and exposure to Confidential Information or Trade Secrets and the Company's
provision of specialized training to Executive that during the Employment
Period and for a period of one year following Executive's Date of Termination
with Company for any reason, Executive shall not (1) compete or engage in any
business, directly or indirectly, with Company or its Affiliates in the seismic
or similar business of the Company or of its Affiliates in any geographical
area where the Company or its Affiliates have or solicited any business or at
any time during the two (2) years had any business preceding Date of
Termination (the "Area of No-Compete") as an individual, owner, investor,
partner, shareholder, director, officer, principal, agent, employee, trustee,
consultant, or in any relationship or capacity, (2) without limiting the
foregoing, solicit or negotiate, or manage, supervise or direct others in the
solicitation or negotiation of, any contract or agreement that constitutes or
would constitute engaging in competition with the seismic business in the
portions of  the Area of No-Compete, or (3) solicit, take away, attempt to
solicit or take away, or do any act the foreseeable consequences of which would
lead to the solicitation or taking away of any marketing prospects, projects or
customers of Company's business in the Area of No-Compete.

(ii)               
For a period of one year following the Executive's Date of Termination
with Company for any reason, Executive shall not, directly or indirectly,
solicit for employment, employ or be in business in any form with, directly or
indirectly, in the seismic or business of the Company, any employee (i)
employed by Company or Affiliates or who was so employed within the two-year
period immediately prior to such termination, or (ii) knowingly solicit or
encourage any employee to leave the employ of the Company or its Affiliates.

(iii)                 The Executive agrees that for a period of one year following Date of
Termination he will not solicit or encourage any customer of the Company or any
of its Affiliates to reduce or cease its business with the Company or any such
Affiliate or otherwise knowingly interfere with the relationship of the Company
or any Affiliate with its customers.

(c)               
Additional Covenants and Acknowledgments.

(i)                Executive hereby specifically acknowledges and agrees that the temporal,
geographical and other restrictions contained in this Section 10 are reasonable
and necessary to protect the Company's legitimate business interests, including
but not limited to, the business, goodwill, Confidential Information or Trade
Secrets and prospects of Company.

(ii)                 Executive specifically agrees that the actual or threatened breach by
Executive of the provisions in Section 10 of this Agreement will cause
irreparable harm to Company causing damages and injuries that are not
measurable or susceptible to calculation.  In the event of any breach or
threatened breach of this Section 10 by the Executive, the Company shall be
entitled to extraordinary or emergency relief, including, but not limited to,
obtaining an ex parte restraining order, preliminary injunction and
permanent injunction and to recover the Company's attorney's fees, costs and
expenses related to Executive's breach or threatened breach.  Nothing contained
in this Agreement shall be construed as prohibiting the Company from pursuing
any other remedies available to it for breach or threatened breach by
Executive, including, without limitation, the recovery of money damages. 

(iii)                Executive further agrees that in the event either the length of time,
geographical or any other restrictions, or portion thereof, set forth in this
Section 10 is overly restrictive and unenforceable in any court proceeding, the
court may reduce or modify such restrictions, but only to the extent necessary,
to those which it deems reasonable and enforceable under the circumstances and
the parties agree that the restrictions of this Section 10 will be
enforced as reduced or modified

(iv)                Executive further agrees that, in the event any provision of this
Section 10 is held to be invalid, overbroad, void, or against public
policy, the remaining provisions of this Section 10 and all other provisions of
this Agreement shall not be affected thereby, and that the provision held
invalid shall be reformed to the minimum extent necessary to validate such
provision, consistent with the purpose and intent of this Agreement.

(v)               
If the Company believes that Executive has violated any of the
provisions of this Section 10, all benefits and payments payable under this
Agreement shall cease and the non-competition period shall be suspended and
will not run in favor of the Executive from the time of the commencement of
such breach until the time when the Executive cures the breach to the Company's
satisfaction.  If the Executive does not cure the violation to the satisfaction
of the Company, no further benefits or payments will be made and all rights of
Executive to such payments lapse and become void and the Company may pursue any
other remedies provided herein.

(d)              
Return of Materials.

Promptly upon the termination of Executive's employment for
any reason and in any event within five days after request by the Company,
Executive shall return all Confidential Information and all copies thereof to
the Company, and Executive shall destroy all extracts, memoranda, notes and any
other material prepared by Executive based upon Confidential Information.

11.              
Cooperation.

Following the Date of Termination, upon
reasonable request by the Company, the Executive shall cooperate with the
Company with respect to any litigation or other dispute relating to any matter
in which he was involved or had knowledge during his employment with the
Company. The Company shall reimburse the Executive for all reasonable and
necessary out-of-pocket costs, such as travel, hotel and meal expenses,
incurred by the Executive in providing any cooperation pursuant to this Section
11.

12.               Assignability; Binding Nature.

This Agreement shall be binding upon and inure
to the benefit of the Parties and their respective successors, heirs (in the
case of the Executive) and assigns. For purposes of this Section 12, a
successor or assign of the Company shall include any type of successor or
assign of the Company upon a Change in Control and Executive's consent to the
assignment shall not be required.  No rights or obligations, benefits or
payments of the Executive under this Agreement may be assigned or transferred
by the Executive other than his rights to compensation and benefits, which may
be transferred only by will, operation of law or in accordance with Section 19
below.

13.               
Entire Agreement.

This Agreement contains the entire
understanding and agreement between the Parties concerning the subject matter
hereof and supersedes all prior agreements, understandings, discussions,
negotiations and undertakings, whether written or oral, between the Parties
with respect thereto. In the event of any inconsistency between any provision
of this Agreement and any other provision of any other plan, policy or program
of, or other agreement with, the Company, the provisions of this Agreement
shall control

14.               
Amendment or Waiver.

No provision in this Agreement may be amended
unless such amendment is agreed to in writing and signed by the Executive and
an authorized officer of the Company. No waiver by either Party of any breach
by the other Party of any condition or provision contained in this Agreement to
be performed by such other Party shall be deemed a waiver of a similar or
dissimilar condition or provision at the same or any prior or subsequent time.
Any waiver must be in writing and signed by the Party against whom it is being
enforced (either the Executive or an authorized officer of the Company, as the
case may be).

15.               
Severability.

In the event that any provision or portion of
this Agreement shall be determined to be invalid or unenforceable for any
reason, in whole or in part, the remaining provisions of this Agreement shall
be unaffected thereby and shall remain in full force and effect to the .fullest
extent permitted by law.

16.               
Survivorship.

The respective rights and obligations of the
Parties hereunder, including, without limitation, Section 9 (termination of
employment), Section 10 (confidentiality, assignment of rights,
non-competition; non-solicitation, injunctive and other relief), Section 11 (cooperation),
and Section 19 (resolution of disputes), shall survive any termination of the
Executive's employment to the extent necessary to the intended preservation of
such rights and obligations.

17.               
Beneficiaries/References.

The Executive shall be entitled, to the extent
permitted under applicable plans, agreements or law, to select and change a
beneficiary or beneficiaries to receive any benefit payable hereunder following
the Executive's death by giving the Company written notice thereof. In the
event of the Executive's death or a judicial determination of his incompetence,
reference in this Agreement to the Executive shall be deemed, where
appropriate, to refer to his beneficiary, estate or other legal representative.

18.               
Governing Law.

This Agreement shall be governed by and
construed and interpreted in accordance with the laws of Texas without
reference to principles of conflicts of law, except as preempted by applicable
federal law.

19.               
 Resolution of Disputes.

(a)               
Arbitration. All disputes and controversies of every kind and
nature between any parties hereto arising out of or in connection with this
Agreement or the transactions described herein as to the construction,
validity, interpretation or meaning, performance, non-performance, enforcement,
operation or breach, shall be submitted to arbitration pursuant to the
following procedures:

(i)                 
After a dispute or controversy arises, any party may, in a written
notice delivered to the other parties to the dispute, demand such arbitration.
Such notice shall designate the name of the arbitrator (who shall be an
impartial person) appointed by such party demanding arbitration, together with
a statement of the matter in controversy.

(ii)               
Within thirty (30) days after receipt of such demand, the other parties
shall, in a written notice delivered to the first party, name such parties'
arbitrator (who shall be an impartial person). If such parties fail to name an
arbitrator, then the second arbitrator shall be named by the American
Arbitration Association (the "AAA"). The two arbitrators so selected shall name
a third arbitrator (who shall be an impartial person) within thirty (30) days,
or in lieu of such agreement on a third arbitrator by the two arbitrators so
appointed, the third arbitrator shall be appointed by the AAA. If any
arbitrator appointed hereunder shall die, resign, refuse or become unable to
act before an arbitration decision is rendered, then the vacancy shall be
filled by the method set forth in this Section for the original appointment of such
arbitrator.

(iii)              
Each party shall bear its own arbitration costs and expenses. The
arbitration hearing shall be held in Houston, Texas at a location designated by
a majority of the arbitrators. The Commercial Arbitration Rules of the American
Arbitration Association shall be incorporated by reference at such hearing and
the substantive laws of the State of Texas (excluding conflict of laws
provisions) shall apply.

(iv)             
The arbitration hearing shall be concluded within ten (10) days unless
otherwise ordered by the arbitrators and the written award thereon shall be
made within fifteen (15) days after the close of submission of evidence. An
award rendered by a majority of the arbitrators appointed pursuant to this
Agreement shall be final and binding on all parties to the proceeding, shall
resolve the question of costs of the arbitrators and all related matters, and
judgment on such award may be entered and enforced by either party in any court
of competent jurisdiction.

(v)               
Except as set forth in Section 19(b) and (c), the parties stipulate that
the provisions of this Section shall be a complete defense to any suit, action
or proceeding instituted in any federal, state or local court or before any
administrative tribunal with respect to any controversy or dispute arising out
of this Agreement or the transactions described herein. The arbitration
provisions hereof shall, with respect to such controversy or dispute, survive
the termination or expiration of this Agreement.

No party to an
arbitration may disclose the existence or results of any arbitration hereunder
without the prior written consent of the other parties; nor will any party to
an arbitration disclose to any third party any confidential information
disclosed by any other party to an arbitration in the course of an arbitration
hereunder without the prior written consent of such other party.

(b)              
Emergency Relief. Notwithstanding anything in this Section 19(a)
to the contrary, any party may seek from a court any provisional remedy that
may be necessary to protect any rights or property of such party pending the
establishment of the arbitral tribunal or its determination of the merits of
the controversy or to enforce a party's rights under this Section 19.

(c)               
Emergency or Extraordinary Relief Related to Section 10. 
Notwithstanding the foregoing, the Company shall have right to seek emergency
or extraordinary relief, including but not limited to, a temporary restraining
order, injunctive relief or any relief described in Section 10, for Executive's
breach or threatened breach of any provision in Section 10 of this Agreement.

20.               
Notices.

Any notice given to a Party shall be in
writing and shall be deemed to have been given (i) when delivered personally,
(ii) three days after being sent by certified or registered mail, postage
prepaid, return receipt requested or (iii) two days after being sent by
overnight courier (provided that a written acknowledgement of receipt is
obtained by the overnight courier), with any such notice duly addressed to the
Party concerned at the address indicated below or to such other address as such
Party may subsequently give such notice of in accordance with this Section 20:

            If to
the Company:                                            Seitel Inc.

                                                                                    10811 S. Westview Circle

                                                                                    Houston, Texas 77043

                                                                                    Attention:
General Counsel

 

            If to
the Executive:                                            William Restrepo

                                                                                    3219 Oakmont Drive

                                                                                    Sugar Land,   Texas 77479

21.                Withholding.

The Company may withhold or deduct from any
and all amounts payable under this Agreement (a) such federal, state, local and
other taxes or deductions as may be required to be withheld pursuant to
applicable law or regulation, (b) all other normal employee deductions made
with respect to the employee plans and programs in which Executive
participates.

22.               
General Assets.

All payments to Executive provided for under
this Agreement shall be paid in cash from the Company and no special or
separate funds shall be established and no segregation of assets shall be made
to assure payment.  To the extent that any person acquires a right to receive
payments from the Company hereunder, such right shall be no greater than the
right of an unsecured creditor of the Company.

23.               
Executive Acknowledgment.

Executive acknowledges that (a) he is knowledgeable and sophisticated as to business matters, including the subject matters of this
Agreement, (b) he has read this Agreement, (c) he has been advised by the Company to consult an independent attorney and he has consulted with and been
advised by his independent attorney, and (d) he understands the terms and conditions of this Agreement.  Executive represents that he is free to enter
into this Agreement and that he is not subject to another employment agreement
with the Company or covenant not to compete with the Company that would
conflict with this Agreement.

24.               
Headings.

The headings of the sections contained in this
Agreement are for convenience only and shall not be deemed to control or affect
the meaning or construction of any provision of this Agreement.

25.               
Certain Interpretive Matters.

The definitions contained in this Agreement are applicable
to the singular as well as plural form of such terms and to the masculine as
well as to the feminine and neuter genders of such term.

26.               
Code Section 409A.

The parties agree that this Agreement shall be operated
and amended at the Company's discretion to the extent necessary to comply with
Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"), and
Executive hereby consents to any such amendment.

27.               
Counterparts.

This Agreement
may be executed in two or more counterparts.

IN WITNESS
WHEREOF, the undersigned have executed this Agreement as of the date first
written above.

SEITEL INC.                                                                         THE
EXECUTIVE

 

 

By:    /s/
Robert D. Monson                                                    By: 
    /s/ William Restrepo                                 

                        Mr.
Robert D. Monson                                                         Mr. William Restrepo

                                   President

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