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EXHIBIT 10.3
SECOND AMENDMENT
TO
EXCLUSIVE LEASE REFERRAL AGREEMENT
This Second Amendment (the "Amendment") to the Exclusive Lease
Referral Agreement entered into on May 14, 1996, between Mitcham Industries,
Inc. a Texas corporation, ("Mitcham") and Peleton Company, Inc., an Oklahoma
corporation ("Peleton") (the "Agreement") is entered into on this 24th day of
November, 1997. For good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Mitcham and Peleton do hereby
agree as follows:
1. Section 11 of the Agreement is amended by this Amendment to
read in its entirety as follows:
"11. TERM. This Agreement shall be effective beginning
May 14, 1996 (the "Effective Date") and will remain in effect through December
31, 1998 (the "Term"). Thereafter, it shall continue to be effective until
terminated by either party giving the other three months prior notice."
2. All other terms and conditions of the Agreement remain unmodified.
3. The Agreement is ratified and confirmed as being in full force
and effect in accordance with its terms and provisions, as amended by this
Amendment.
IN WITNESS WHEREOF, this Amendment has been executed on behalf of the parties
by their duly authorized representatives as of the date first written above.
MITCHAM: XXXXXX:
Xxxxxxx Industries, Inc. Xxxxxx Company, Inc.
/s/ XXXXX X. XXXXXXX, XX. /s/ XXX X. XXXXXXXX
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By: Xxxxx X. Xxxxxxx, Xx. By: Xxx X. Xxxxxxxx
Title: President, Chief Executive Title: Chairman and President
Officer and Chairman of
the Board
