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EXHIBIT 10(V)
EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT (the "Agreement") is made and entered into as of the
1st day of October, 1994, by and between ZAPATA CORPORATION (the "Company") and
LAMAR C. McINTYRE (the "Executive").
WITNESSETH:
WHEREAS, the Company wishes to secure the Services (as defined in Paragraph 4)
of the Executive subject to the terms and conditions hereinafter set forth; and
WHEREAS, the Executive is willing to enter into this Agreement upon the terms
and conditions hereinafter set forth.
NOW, THEREFORE, in consideration of the mutual promises and agreements set forth
herein, the parties agree as follows:
1. Employment. During the Executive's Term of Employment (as defined in
Paragraph 2) the Company shall employ the Executive, and the Executive shall
serve, as Vice President, Treasurer and Chief Financial Officer of the Company
and in such other capacities as shall be prescribed by the Board of Directors of
the Company.
2. Term of Employment. The Executive's Term of Employment shall commence on
October 1, 1994 and shall extend until December 17, 1998, unless the Executive
voluntarily elects to terminate his employment hereunder.
3. Compensation and Benefits.
a. The Company shall pay or cause to
be paid to the Executive during his Term of
Employment an annual base salary of One Hundred Thirty Thousand and No/100
Dollars ($130,000.00), payable in equal semi-monthly installments. The
Executive's base salary shall be subject to annual review and may be
increased, depending upon the performance of the Company and the Executive,
upon the recommendation of the Chief Operating Officer of the Company and
approval by the Compensation Committee of the Board of Directors of the
Company. In the event that the Company relocates the Executive, Company will
pay all reasonable relocation expenses incurred by the Executive relating to
a change in the Executive's principal residence in connection with such
relocation, and the Company shall adjust Executive's annual base salary to
reflect any increased costs of living due to relocation.
b. During the Term of Employment, the Executive shall be entitled to participate
and shall be included in any pension, profit-sharing, stock option, deferred
compensation, or similar plan or program of the Company established by the
Company, pursuant to