SEABULK INTERNATIONAL INC
AMEND NO. 5 TO EXECUTIVE EMPLOYMENT AGREEMENT
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<TYPE>EX-10.51
<SEQUENCE>7
<FILENAME>g96774exv10w51.htm
<DESCRIPTION>AMEND NO. 5 TO EXECUTIVE EMPLOYMENT AGREEMENT
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<TITLE>Amend No. 5 to Executive Employment Agreement</TITLE>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXHIBIT 10.51</B>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AMENDMENT NO. 5 TO<BR>
EXECUTIVE EMPLOYMENT AGREEMENT<BR>
BY AND BETWEEN<BR>
SEABULK INTERNATIONAL, INC. AND GERHARD E. KURZ</B>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment to Executive Employment Agreement by and between Seabulk International, Inc., a
Delaware corporation formerly known as Hvide Marine Incorporated (the
&#147;Company&#148;), and Gerhard
E. Kurz (&#147;Executive&#148;), dated as of April&nbsp;18, 2000, as amended (the &#147;Agreement&#148;), is entered into as
of the 28<SUP style="font-size: 85%; vertical-align: text-top">th </SUP>day of June, 2005.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company and Executive desire to amend the Agreement in certain
respects ;
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the mutual covenants and the mutual benefits provided
in the Agreement, the receipt and sufficiency of which are hereby acknowledged, the Company and
Executive hereby amend the Agreement as set forth below:
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;Section&nbsp;8.8(c) of the Agreement shall be deleted in its entirety and the following shall be
substituted therefor:
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;(c) If Executive&#146;s employment with the Company terminates prior to the payment
of incentive awards under the Company&#146;s Management Annual Incentive Compensation
Plan (&#147;MAICP&#148;) for the 2005 calendar year (determined without regard to any payment
made under the MAICP for the six-month period ending on June&nbsp;30, 2005 (the &#147;Interim
2005 Bonus Payment&#148;)), pay Executive, within five (5)&nbsp;days after the date of such
termination of employment, a lump sum cash payment equal to the excess, if any, of
(1)&nbsp;100% of the 2005 maximum incentive award specified for Executive under the MAICP
multiplied by a fraction, the numerator of which shall be the number of days
Executive was employed by the Company during calendar year 2005 and the denominator
of which shall be 365, over (2)&nbsp;the amount of the Interim 2005 Bonus Payment paid to
Executive by the Company.&#148;
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;As so amended, the Agreement remains in full force and effect.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be duly executed
and delivered as of the day and year first written above.
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">SEABULK INTERNATIONAL, INC.</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
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    <TD>&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Gerhard E. Kurz
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Alan R. Twaits</TD>
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    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
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    <TD>&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">GERHARD E. KURZ
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By: Alan R. Twaits, Sr. Vice President</TD>
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