EXHIBIT 10.1
AMENDMENT NO. 1
TO
EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (this "Amendment") is made and entered
into as of July 14, 1997, by and between MARCUM NATURAL GAS SERVICES, INC., a Delaware
corporation (the "Corporation"), and W. PHILLIP MARCUM ("Officer").
RECITALS:
WHEREAS, the Corporation and Officer have previously entered into that certain Employment Agreement,
dated as of June 11, 1991 (as the same may be amended or otherwise modified from time to time, the
"Employment Agreement"); and
WHEREAS, the Corporation and Officer now desire to amend the Employment Agreement in order to extend
the period of Officer's employment with the Corporation;
NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree
as follows:
SECTION 1. AMENDMENT TO EMPLOYMENT AGREEMENT. Section 2.1 of the Employment
Agreement is hereby amended, effective as of the date hereof, to read in its entirety as follows:
"2.1 Basic Term. The term of Officer's employment under this Agreement shall continue for three years from July
14, 1997, unless otherwise terminated pursuant to this Section 2 (the "Employment Period"); provided, however,
that unless either party gives 60 days written notice prior to the expiration of such three-year term or any
successive one-year term as provided hereafter, the Employment Period shall be automatically extended for one
additional year, and thereafter for additional successive one-year periods, unless terminated earlier pursuant to
this Section 2."
SECTION 2. EFFECT OF AMENDMENT. From and after the date hereof, the term "Employment Period" as
used in the Employment Agreement shall be deemed to refer to the Employment Period as such term is defined in
this Amendment. Except as and to the extent expressly modified by this Amendment, the Employment Agreement
shall remain in full force and