SEC Filings

HORNBECK OFFSHORE SERVICES INC /LA filed this Form 8-K on 08/07/2003
Entire Document

the Assets, without granting Seller any specified rights therein; and (ii)
software license agreements and related contracts relating to the Business or
the Assets, pursuant to which the payment of all costs, fees and royalties have
been duly and timely paid by Seller or its predecessors and no event of default
has occurred thereunder. There have been no claims made, and neither Seller,
Manager or Stockholder has received any notice and does not otherwise know or
have reason to believe that the operation of the Business or any of the Assets
is in conflict with the rights of others.

         2.19 INSURANCE. Schedule 2.19 sets forth a true, complete and correct
list of all insurance policies of any kind or nature covering the Business and
the Assets, including without limitation policies of life, fire, theft, employee
fidelity, worker's compensation, property and other casualty and liability
insurance, and indicates the type of coverage, name of insured, the insurer, the
premium, the expiration date of each policy and the amount of coverage for
statutory workers' compensation. Schedule 2.19 also sets forth a list of any
currently pending claims and any claims asserted under such policies or similar
policies with respect to the Business or Assets within the last three (3) years.
The premiums for the insurance policies listed in Schedule 2.19 have been fully
paid. The insurance afforded under such policies or certificates is in full
force and effect and will continue to cover the Business and the Assets through
the Closing. True, complete and correct copies of each such policy have been
made available to Buyer.

         2.20 EMPLOYEES. Schedule 2.20 lists all vessel-based employees of
Seller and Manager relating to the Business, the dates of hire and the rates of
pay for each such employee, and all commission, bonus or other compensation or
expense reimbursement or allowance arrangements between Seller, Manager and any
such employees. Schedule 2.20 lists each management or employment contract or
contract for personal services and a description of any understanding or
commitment between Seller, Manager and any vessel-based employee, independent
contractor or other person or entity. A true and complete copy of such contracts
and a description of such understandings and commitments has been delivered to
Buyer. Neither Seller nor Manager has at any time prior to the Closing Date
made, and neither will thereafter make, any statement or communication of any
kind regarding whether, or the terms and conditions upon which, any such
vessel-based employee may be employed by Buyer, unless expressly requested to do
so in writing by Buyer.

         2.21 LABOR AGREEMENTS; DISPUTES. Neither Seller nor Manager is a party
to or has any obligation under any collective bargaining agreement or other
labor union contract, white paper or side agreement with any labor union or
organization, nor any obligation to recognize or deal with any labor union or
organization. There are no pending or overtly threatened representation
campaigns, elections or proceedings or questions concerning union representation
involving any vessel-based employees of Seller or Manager engaged in the
Business. There are no overt activities or efforts of any labor union or
organization (or representatives thereof) to organize any vessel-based employees
engaged in the Business, nor of any demands for recognition or collective
bargaining, nor of any strikes, slowdowns, work stoppages or lock-outs of any
kind, or overt threats thereof, by or with respect to any of its vessel-based
employees, or any actual or claimed representatives thereof, and no such
activities, efforts, demands, strikes, slowdowns, work stoppages or lock-outs
occurred during the three-year period preceding the date hereof. There are no
charges or complaints involving any federal, state or local civil rights
enforcement agency or court; complaints or citations under the Occupational
Safety and Health Act or any