EXHIBIT 10.69
TRITON EXPLORATION SERVICES, INC.
0000 Xxxxx Xxxxxxx Xxxxxxxxxx, Xxxxx 0000
Xxxxxx, Xxxxx 00000
December 19, 2000
Re: Employment Agreement among yourself, Triton Exploration Services, Inc.
and Triton Energy Limited (as amended or modified to date,
including the amendment and restatement dated June 28, 2000, the
"Agreement"; capitalized terms used in this letter shall have the
meanings set forth in the Agreement)
Dear:
This letter will evidence our agreement to amend the Agreement as set forth
herein. Section 4.3-2 of the Agreement is hereby amended to read in its entirety
as follows:
"4.3-2 In lieu of any further salary or bonus payments to Employee for
periods subsequent to the Date of Termination, an amount equal to the product of
(a) the number three (3) times (b) the sum of (i) the highest of Employee's
annual base salary in effect at any time from the three (3) years prior to,
through and including, the Date of Termination plus (ii) the greater of (x) the
highest of the aggregate bonuses paid to Employee during any fiscal year all or
a part of which was included in the foregoing three year period and (y) 15%
times the highest of Employee's annual base salary in effect at any time from
the three years prior to, through and including, the Date of Termination plus
(iii) the highest of the aggregate contributions made by the Employer on
Employee's behalf in respect of Employee's participation in any 401(k) plan or
plans of the Employer during any fiscal year all or a part of which was included
in the foregoing three year period;"
Except as expressly set forth in this letter, the Agreement shall remain in
full force and effect.
Please acknowledge your agreement with the foregoing by signing below.
Very truly yours,
Triton Exploration Services, Inc.
By: _____________________________
Xxxxx X.Xxxxxxxxx, President and
Chief Executive Officer
Acknowledged and Agreed:
__________________________________
Acknowledged and Agreed by Triton Energy Limited, as guarantor
of Triton Exploration Services, Inc.
Triton Energy Limited
By: ________________________________
Xxxxx X. Xxxxxxxxx, President and
Chief Executive Officer
