EXHIBIT 10.9
AMENDMENT TO
FINANCIAL CONSULTING AGREEMENT
THIS AMENDMENT TO FINANCIAL CONSULTING AGREEMENT (this "Amendment"), is
made and entered into as of May 16, 2001 and amends that certain Financial
Consulting Agreement, dated as of December 31, 1996 (the "Agreement"), by and
between THE HALLWOOD GROUP INCORPORATED, a Delaware corporation ("Hallwood
Group") and HSC FINANCIAL CORPORATION, a Liberian corporation (the
"Consultant").
RECITALS
WHEREAS, the parties to the Agreement desire to amend the Agreement; and
WHEREAS, Section 9(h) of the Agreement provides that the parties may amend
the Agreement.
NOW, THEREFORE, in consideration of the mutual undertakings and agreements
contained in this Amendment and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties agree as
follows:
AGREEMENT
1. Amendment. Section 6(A) of the Agreement is hereby amended in its
entirety as follows:
"A. As compensation for the Consultant's services, Hallwood Group agrees
to pay to the Consultant an annual fee of Seven Hundred Ninety Five Thousand
Dollars ($795,000), payable in monthly installments of Sixty Six Thousand Two
Hundred Fifty Dollars ($66,250.00) on the first day of each month."
2. Continuation of Agreement. The Agreement shall continue in full force
and effect, as amended by this Amendment.
3. Counterparts. This Amendment may be executed in multiple
counterparts, all of which shall be deemed originals, but all of which together
shall constitute one and the same instrument.
[SIGNATURE PAGE FOLLOWS]
IN WITNESS WHEREOF, the parties hereto have duly executed and delivered
this Amendment as of the date first above written.
HALLWOOD GROUP:
Address: THE HALLWOOD GROUP INCORPORATED
0000 Xxxxxxx
Xxxxx 0000
Xxxxxx, Xxxxx 00000 By: /s/ XXXXXX X. XXXXX
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Name: Xxxxxx X. Xxxxx
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Title: Vice President and CFO
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CONSULTANT:
Address: HSC FINANCIAL CORPORATION
00, Xxxxxx Xxxxxxxxx Xxxxx
Xxxxx-Xxxxx XX00000
Principality of Monaco By: /s/ XXXXXXX XXXXXXXX
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Name: Xxxxxxx Xxxxxxxx
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Title: Director
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