CONTRACT ASSIGNMENT AND AMENDMENT AGREEMENTContract Assignment and Amendment Agreement • January 5th, 2011 • Deep Down, Inc. • Oil & gas field machinery & equipment • New York
This CONTRACT ASSIGNMENT AND AMENDMENT AGREEMENT (this “Agreement”), is made and entered into as of December 31, 2010, by and among DEEP DOWN, INC., a corporation existing under the laws of Nevada (“Assignor”), CUMING FLOTATION TECHNOLOGIES, LLC, a Delaware limited liability company (“Assignee”), CUMING CORPORATION, a corporation existing under the laws of the Commonwealth of Massachusetts (“Cuming”) and the stockholders of Cuming listed on the signature pages hereof under the heading “Selling Stockholders” (collectively, the “Selling Stockholders”). Capitalized terms used herein but not defined shall have the meanings as set forth and defined in the Contribution Agreement (as defined below).
