First Amendment to Executive Employment Agreement between EOTT Energy Corp. and Lori L. Maddox

Summary

EOTT Energy Corp. and Lori L. Maddox have amended their Executive Employment Agreement, originally effective January 1, 2001. This amendment replaces Exhibit "A" of the original agreement, updating Maddox's employment terms, including her position as Vice President and Controller, reporting structure, location, base salary, and eligibility for bonus and long-term incentive plans. All other terms of the original agreement remain unchanged. The amendment is effective as of September 26, 2002, and covers employment through December 31, 2003.

EX-10.51 18 h04843exv10w51.txt FORM OF 1ST AMEND. TO EXEC. EMP. AGMT.- L. MADDOX EXHIBIT 10.51 FIRST AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT This Agreement, entered into and made effective as of September 26, 2002, by and between EOTT ENERGY CORP., a Delaware corporation ("EOTT") having its headquarters at 2000 W. Sam Houston Parkway, S., Suite 400 Houston, Texas 77042 and LORI L. MADDOX ("Employee"), is an amendment to that certain Executive Employment Agreement between the EOTT and Employee entered into and made effective as of January 1, 2001 (the "Employment Agreement"). WHEREAS, the parties desire to amend the Employment Agreement as provided herein; NOW, THEREFORE, in consideration thereof and of the mutual covenants contained herein, the parties agree as follows: 1. Exhibit "A" to the Employment Agreement is hereby deleted in its entirety and the attached Exhibit "A" is inserted in its entirety. This Amendment is a First Amendment to the Employment Agreement, and the parties agree that all other terms, conditions and stipulations contained in the Employment Agreement, and any amendments thereto, shall remain in full force and effect and without any change or modification, except as provided herein. IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the date first above written. EOTT ENERGY CORP. By: ______________________________ Name: Dana R. Gibbs Title: President & Chief Operating Officer This _____ day of ______________, 2002 LORI L. MADDOX ___________________________________ This ____ day of ________________, 2002 EXHIBIT "A" TO EXECUTIVE EMPLOYMENT AGREEMENT BETWEEN EOTT ENERGY CORP. AND LORI L. MADDOX Employee Name: Lori L. Maddox Term: January 1, 2001 through December 31, 2003 Position: Vice President and Controller Reporting Relationship: Reports to the Senior Vice President and Financial Officer, EOTT Energy Corp. Location: Houston, Texas Monthly Base Salary: Employee's monthly base salary shall not be less than Thirteen Thousand Three Hundred Thirty-Three and Thirty-Three/100 Dollars ($13,333.33). Bonus: Employee may be eligible to participate in the EOTT Energy Corp. Annual Incentive Plan ("Plan") or any appropriate replacement bonus plan of Employer. All bonuses are discretionary and shall be paid in accordance with the terms and provisions of the Plan. Long Term Incentives: As recommended and approved in any EOTT Energy Long Term Incentive Plan(s) by the Board of Directors of EOTT Energy Corp. EOTT ENERGY CORP. By: ________________________________________________ Name: Dana R. Gibbs Title: President and Chief Operating Officer This ___ day of ______________________, 2002 LORI L. MADDOX ____________________________________________ This ___ day of ____________________, 2002 -2-