Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On September 4, 2009, Global Industries, Ltd. (the "Company") announced that Jeffrey B. Levos will resign as Senior Vice President and Chief Financial Officer of the Company in mid- November, after the filing of the Company's Form 10-Q for the third quarter. Mr. Levos will remain employed with the Company through February 15, 2010 to assist in the orderly transition of his duties, during which time Mr. Levos will be paid a salary and receive benefits equivalent to those in effect immediately prior to the announcement of his resignation. Mr. Levos will not be eligible for 2009 incentive compensation under the Company's Management Incentive Plan. After Mr. Levos' employment ceases, he will be eligible for eighteen months of insurance benefits at a cost equivalent to that paid by active executives. Mr. Levos is resigning voluntarily and not because of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.
A copy of the press release announcing Mr. Levos' resignation is attached hereto as Exhibit 99.1 and is incorporated by reference herein in its entirety. Item 9.01 Financial Statements and Exhibits

(d) Exhibits.
99.1 Press release dated September 4, 2009.

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