EXHIBIT 10.2
GLOBAL MARINE INC.
EXECUTIVE DEFERRED
COMPENSATION TRUST AGREEMENT
FIRST AMENDMENT
THIS FIRST AMENDMENT TO THE GLOBAL MARINE EXECUTIVE
DEFERRED COMPENSATION TRUST AGREEMENT, which was originally made
and entered into the 23rd day of February, 1996, but effective
January 1, 1995, by and between GLOBAL MARINE CORPORATE SERVICES
INC., a California corporation having its principal offices in
Houston, Texas ("Company"), and TEXAS COMMERCE BANK NATIONAL
ASSOCIATION, a national banking association ("Trustee");
WHEREAS, the Company has established the Global Marine
Executive Deferred Compensation Trust (the "Trust") pursuant to the
Global Marine Executive Deferred Compensation Trust Agreement (the
"Trust Agreement"); and
WHEREAS, the Company has reserved the right under Section
12 of the Trust Agreement to amend the Trust Agreement by a written
instrument executed by the Trustee and the Company;
NOW, THEREFORE, the parties do hereby agree that Section
1 (b) of the Trust Agreement shall be amended effective as of
January 1, 1997, to read thereafter as follows:
"(b) The Trust shall be irrevocable from and after
January 1, 1997."
IN WITNESS WHEREOF, the parties have caused these
presents to be executed by their duly authorized officers this 26th
day of February, 1997.
GLOBAL MARINE CORPORATE SERVICES INC.
By: /S/ X. X. XXXXXXXXX
Vice President
TEXAS COMMERCE BANK NATIONAL
ASSOCIATION, Trustee
By: /S/ X. X. XXXXXXXXX
Vice President