TERMINATION AGREEMENT
This TERMINATION AGREEMENT (this "Agreement") is made as
of August 22, 1997 among Superior Energy Services, Inc., a
Delaware corporation ("Superior"), Xxxxxxx X. Xxxx, Xxxxxx X.
Xxxxxx, Xx. and Xxxxx X. Xxxxxxxxx (collectively, the
"Shareholders").
WITNESSETH:
WHEREAS, the parties hereto have entered into a
Shareholders' Agreement (the "Shareholders' Agreement"); and
WHEREAS, Superior and Shareholders mutually wish to
terminate as of the date hereof the force and effect of each
provision of the Shareholders' 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 Shareholders' Agreement and all rights and obligations
arising thereunder are hereby terminated and revoked in their
entirety as of the date hereof and Superior and the Shareholders
relinquish and waive any and all rights that may have accrued
under the Shareholders' Agreement.
2. Miscellaneous. This Agreement constitutes the
entire understanding and agreement among the parties with respect
to the termination of the Shareholders' Agreement. This
Agreement shall be governed by the law 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. Xxxx
Xxxxxxx X. Xxxx
/s/ Xxxxxx X. Xxxxxx, Xx.
Xxxxxx X. Xxxxxx, Xx.
/s/ Xxxxx Xxxxxxxxx
Xxxxx Xxxxxxxxx
