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AMENDMENT TO
CORE LABORATORIES
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
WHEREAS, CORE LABORATORIES N.V. and its
participating affiliates (the "Company") have heretofore adopted
the CORE LABORATORIES SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
(the "Plan") for the benefit of certain employees and independent
directors of the Company; and
WHEREAS , no individuals have commenced
participation in the Plan after October 3, 2004, no new
benefits have been accrued under the Plan after December 31, 2004,
and the Company has no intention of permitting any individual to
commence participation in the Plan or accrue an additional benefit
under the Plan in the future; and
WHEREAS , as of December 31, 2004, all
participants in the Plan were fully vested in the full amount of
their potential benefit under the Plan; and
WHEREAS , the benefits of the
participants in the Plan should not be subject to the application
of section 409A of the Internal Revenue Code of 1986, as amended
(the "Code"), unless such benefits are materially modified; and
WHEREAS , the Company desires to amend
the Plan to freeze participation under the Plan and to define the
grandfathered Plan benefit under section 409A of the Code in
accordance with the requirements of the final regulations issued
under section 409A of the Code;
NOW, THEREFORE , the Plan shall be
amended as follows, effective as of January 1, 2005:
-
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- The following sha
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