CONRAD INDUSTRIES INC
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT - KENNETH J. MYERS, JR.
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<DESCRIPTION>AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT - KENNETH J. MYERS, JR.
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10.3 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>AMENDMENT NO. 1 TO </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="2"><B>EMPLOYMENT AGREEMENT </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">This Amendment No. 1 to
Employment Agreement (this &#147;First Amendment&#148;), by and between Conrad Industries, Inc., a Delaware corporation (the &#147;Company&#148;), and Kenneth G. Myers, Jr. (&#147;Executive&#148;) is hereby entered into effective as of September 15,
2003. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>W I T N E S S E T H: </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>WHEREAS</B>, the Company and Executive have entered into that certain
Employment Agreement, dated as of August 13, 2001 (the &#147;Employment Agreement&#148;); and </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2"><B>WHEREAS</B>, the Company and Executive desire to amend the Employment Agreement as set forth herein; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>NOW, THEREFORE</B>, for and in consideration of the continued employment of Executive by the Company and the payment of salary and other compensation
to Executive by the Company, the parties hereto agree as follows: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2"><B>Section 1.</B>&nbsp;&nbsp;&nbsp;&nbsp;Except as expressly amended hereby, all of the terms and provisions of the Employment Agreement shall remain in full force and effect. Capitalized terms used herein, unless otherwise defined herein,
shall have the meaning given to them in the Employment Agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2"><B>Section 2.</B>&nbsp;&nbsp;&nbsp;&nbsp;The first sentence of paragraph 2(a) of the Employment Agreement is hereby amended to read in its entirety as follows: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:32%"><FONT FACE="Times New Roman" SIZE="2">The base salary payable to Executive during the term of his </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:32%"><FONT FACE="Times New Roman" SIZE="2">employment hereunder shall be $218,500 per year, payable in </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:32%"><FONT
FACE="Times New Roman" SIZE="2">accordance with the Company&#146;s payroll procedures for executives, </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:32%"><FONT FACE="Times New Roman" SIZE="2">but not less frequently than
monthly. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><I>[signatures appear on the following page]
</I></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly executed and signed as
of the date indicated above. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3" WIDTH="91%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">CONRAD INDUSTRIES, INC.</FONT></P></TD></TR>
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<TD VALIGN="top" WIDTH="7%"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></TD>
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<TD VALIGN="top" WIDTH="91%"><FONT FACE="Times New Roman" SIZE="2">/s/ M<SMALL>ICHAEL</SMALL> J. H<SMALL>ARRIS</SMALL></FONT></TD></TR>
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<TD VALIGN="bottom" WIDTH="91%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Michael J. Harris</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Chairman, Compensation Committee of the Board of Directors of Conrad Industries, Inc.</FONT></P></TD></TR>
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<TD VALIGN="top" WIDTH="100%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">EXECUTIVE</FONT></P></TD></TR>
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<TD VALIGN="top" WIDTH="100%"><FONT FACE="Times New Roman" SIZE="2">/s/ K<SMALL>ENNETH</SMALL> G. M<SMALL>YERS</SMALL>, J<SMALL>R</SMALL>.</FONT></TD></TR>
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<TD VALIGN="bottom" ALIGN="center" WIDTH="100%"><FONT FACE="Times New Roman" SIZE="2">Kenneth G. Myers, Jr.</FONT></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">Amendment No. 1
to Employment Agreement </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">Kenneth G. Myers, Jr. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2">Page 2 </FONT></P>
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