Amendment No. 2 to Hornbeck Offshore Services, Inc. Incentive Compensation Plan

Summary

This amendment updates the incentive compensation plan originally established by HV Marine Services, Inc., now renamed Hornbeck Offshore Services, Inc. The amendment allows the plan's committee to delegate certain duties to the CEO and other senior officers, with the exception that they cannot delegate authority regarding awards or actions for individuals subject to Section 16 of the Exchange Act. The amendment is effective as of March 13, 2003.

EX-10.1 3 h05965exv10w1.txt AMENDMENT NO.2 TO INCENTIVE COMPENSATION PLAN EXHIBIT 10.1 AMENDMENT NO. 2 TO THE HV MARINE SERVICES, INC. INCENTIVE COMPENSATION PLAN ("PLAN") EFFECTIVE MARCH 13, 2003 The Plan is hereby amended as follows: 1. The name of the Plan is changed to the "Hornbeck Offshore Services, Inc. Incentive Compensation Plan." 2. Clause (viii) of Section 3.2(a) of the Plan is renumbered as clause (ix) and the following is added as the new clause (viii) of Section 3.2(a): "(viii) delegate to the Chief Executive Officer and to other senior officers of the Company its duties under this Plan pursuant to such conditions or limitations as the Committee may establish, except that the Committee may not delegate to any person the authority to grant Awards to, or take other action with respect to, Persons who are subject to Section 16 of the Exchange Act."