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EXHIBIT 99.7
AMENDMENT TO EMPLOYMENT AGREEMENT
Carrizo Oil & Gas, Inc., a Texas corporation ("Company"), and
_____ ("Executive") have previously entered into an Employment Agreement dated
as of _____ ("Employment Agreement"), and by this agreement hereby amend the
Employment Agreement effective as of December ___, 1999 as follows:
Nothing in the Shareholders Agreement dated December __, 1999
among X.X. Xxxxxxx XX, Xxxxx X. Xxxxxx, Xxxx X. Xxxx, Xx., Xxxxxxx X.X.
Xxxxxxxx, Xxxxxx X. Xxxxxxx, XX Capital Investors, L.P. ("Chase") and certain
other shareholders (the "Shareholders Agreement") or in the transactions
contemplated by the Securities Purchase Agreement dated December __, 1999 among
Xxxx X. Xxxx, Xx., Xxxxxxx X.X. Xxxxxxxx, Xxxxxx X. Xxxxxxx, Xxxxx and certain
other investors (including the addition of any new parties thereto), shall
constitute a "Change of Control" within the meaning of Section 9 of the
Employment Agreement. Without limiting the generality of the foregoing, no
"Change of Control" shall result from the attribution of beneficial ownership
directly or indirectly through the Shareholders Agreement such that a
shareholder is deemed to beneficially own 40% or more of the shares of the
Company's common stock then outstanding (a "40% Holder"), unless such
shareholder would be deemed to be a 40% Holder in the absence of the
Shareholders Agreement.
In witness whereof, the parties have caused these presents to
be executed this ___ day of December, 1999, effective as of the day and year
first above written.
CARRIZO OIL & GAS, INC.
By:
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Name:
Title:
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Executive Officer
