TERMINATION AGREEMENT
This TERMINATION AGREEMENT (this Agreement) is made as of
August 22, 1997 between Superior Energy Services, Inc., a
Delaware corporation ("Superior"), and Xxxxxxx X. Xxxxx.
WITNESSETH:
WHEREAS, the parties hereto have entered into a
Shareholder Agreement (the "Shareholder Agreement"); and
WHEREAS, Superior and Xx. Xxxxx mutually wish to
terminate as of the date hereof the force and effect of each
provision of the Shareholder Agreement.
NOW, THEREFORE, in consideration of the foregoing
premises and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the
parties hereto hereby agree as follows:
1. Termination. The force and effect of each provision
of the Shareholder Agreement and all rights and obligations
arising thereunder are hereby terminated and revoked in their
entirety as of the date hereof and Superior and Xx. Xxxxx
relinquish and waive any and all rights that may have accrued
under the Shareholder Agreement.
2. Miscellaneous. This Termination Agreement
constitutes the entire understanding and agreement among the
parties with respect to the termination of the Shareholder
Agreement. This Agreement shall be governed by the laws of the
State of Louisiana, without the application of any conflicts of
law principles.
IN WITNESS WHEREOF, this agreement has been executed by
the parties hereto as of the date first above written.
SUPERIOR ENERGY SERVICES, INC.
By: /s/ Xxxxxxx X. Xxxx
Xxxxxxx X. Xxxx
President
/s/ Xxxxxxx X. Xxxxx
Xxxxxxx X. Xxxxx
