<PAGE>
 
     of the Term of this Agreement.

4.   Benefits:  During the Term of this Agreement, the Executive shall be
     entitled to participate in the Company's group health and dental care plans
     pursuant to the terms and conditions of those plans.  Premiums will be
     deducted from each monthly check paid to the Executive.  Executive shall
     not participate in any other employee benefit plan or program sponsored by
     the Company, Zapata Protein or its successor during the Term of this
     Agreement.

5.   Directors' and Officers Insurance and Indemnity:  The Company agrees to use
     reasonable  efforts to obtain a directors' and officers' liability
     insurance policy covering Executive and to continue to maintain such
     policy.  The amount of such coverage, if available, shall be reasonable in
     relation to the Executive's responsibilities during the Term of this
     Agreement.  Additionally, the Company agrees to indemnify fully and hold
     the Executive harmless against any causes of action of any type whatsoever
     to the fullest extent permitted by law and consistent with the Company's
     Certificate of Incorporation and By-laws in effect as of the date hereof
     with respect to any acts or non-acts he may commit in connection with the
     performance of his consulting services under this Agreement and during the
     Term of this Agreement, even if the Executive is shown to be negligent or
     grossly negligent, in whole or in part.

6.   Notices:  Any notices required to be made hereunder shall be deemed
     effective when placed in writing and hand-delivered or mailed in the U.S.
     mail, postage-prepaid, as follows:

     To Company:  Zapata Corporation
                  One Riverway, Suite 2200
                  Houston, Texas 77056
                  Attention:  Corporate Secretary

     To Executive:  Mr. R. C. Lassiter
                    11115 Wickwood
                    Houston, Texas 77024

7.   Death or Disability:  If, during the Term of this Agreement, Executive dies
     or becomes totally and permanently disabled (as defined in the Company's
     Long-Term Disability Plan), the Company shall be obligated to pay (in the
     case of death) to the Executive's beneficiary or beneficiaries designated
     in writing, or to his estate in the absence or lapse of such designation,
     or (in the case of such disability) to the Executive or his representative,
     the remaining amount payable under Paragraph 5.B of the Employment
     Agreement in a lump sum.

8.   Covenant Not to Disclose:  In consideration for mutual covenants and
     agreements herein, the Executive agrees that he shall not, except as
     permitted by the Company in writing, in any manner, at any time, directly
     or indirectly, disclose or appropriate to his own use or the use

                                       3