EXHIBIT 10.24
HORIZON OFFSHORE, INC.
0000 XXXX XXXXXXX, XXXXX 000
XXXXXXX, XXXXX 00000
December 5, 1997
Crossbay Ventures Ltd.
The Tropic Isle Building
Road Town, Tortola
British Virgin Islands
Gentlemen:
This letter confirms our agreement and understanding as set forth below:
You hereby agree to purchase, and Horizon Offshore, Inc. (the "Company")
agrees to sell to you 1,484 shares of the Company's common stock, $1.00 par
value per share, for an aggregate purchase price of USD $950,000.
This letter agreement reflects the entire agreement of the parties hereto
as to the subject matter hereof and supersedes and replaces any earlier
agreements between the parties and any of their affiliates.
If the foregoing correctly sets forth our agreement and understanding,
please execute and deliver one copy of this letter to us whereupon it will
become valid, binding and enforceable agreement between us.
Sincerely,
HORIZON OFFSHORE, INC.
By: /s/ Xxxx X. Xxx
--------------------------
Xxxx X. Xxx
President
AGREED AND ACCEPTED AS OF
THE DATE SET FORTH ABOVE BY
CROSSBAY VENTURES, LTD.
By: Xxxx Xxxxxxx
--------------------------
Name: Gath A. T. Xxxxxxx
Title: Vice-President
