Second Amendment to Change of Control Severance Agreement between Energy Partners, Ltd. and Executive
This amendment updates the Change of Control Severance Agreement between Energy Partners, Ltd. and an executive. It extends the agreement's key dates from March 28, 2008, to March 28, 2009, and clarifies that the agreement will end if a change of control does not occur by the new date. All other terms of the original agreement remain unchanged.
Exhibit 10.13
SECOND AMENDMENT TO
CHANGE OF CONTROL SEVERANCE AGREEMENT
BY AND BETWEEN
ENERGY PARTNERS, LTD.
AND
Energy Partners, Ltd. and hereby agree to amend the Change of Control Severance Agreement between them dated as of , as amended by the First Amendment thereto (the Severance Agreement), as follows:
1. The first sentence of Section 1 of the Severance Agreement is amended by deleting March 28, 2008 and substituting in lieu thereof March 28, 2009.
2. The first sentence of Section 2 of the Severance Agreement is amended by deleting March 28, 2008 and substituting in lieu thereof March 28, 2009.
3. Section 5.2 of the Severance Agreement is amended to read in its entirety as follows:
5.2 Termination of Agreement. This Agreement shall terminate and be of no further force and effect if a Change of Control (as defined in Section 4 of this Agreement) of the Company does not occur before March 28, 2009.
Except as amended as herein set forth, the Severance Agreement shall continue in full force and effect in accordance with its terms.
IN WITNESS WHEREOF, the parties hereto have set their hands on this day of , 2008 in multiple originals, each of which shall have the same force and effect as if it were the sole original.
ENERGY PARTNERS, LTD. | ||
By: | ||
Executive: |