Exhibit 10.3

February 4, 2005

Personal and Confidential

Sean M. Gore
20111 Kindle Oaks Drive
Katy, Texas  77450

Dear Sean,

I am pleased to formalize this offer of employment.  As we discussed, the terms
and conditions of the offer are as follows:

 

Company

U.S. Concrete, Inc.

 

 

 

 

Location

OFRC, Houston, Texas

 

 

 

 

Start Date

February 15, 2005

 

 

 

 

Position

Director, Business Development (reporting to Robert Hardy, CFO)

 

 

 

 

Base Salary

$175,000 per year, payable on a semi-monthly basis.

 

 

 

 

Annual Bonus

Your target and maximum bonus opportunities are 35% and 70%, respectively, of
your annual base salary.  The annual bonus is based on overall company, business
unit and individual performance and is paid in the year after it is earned,
subject to Board approval.  The bonus plan is currently under review and it is
possible the final target and maximum bonus percentages will vary form the
percentages specified above.

 

 

 

 

Restricted Stock

You will receive 10,000 shares of U.S. Concrete, Inc. restricted stock.  The
shares will pro-rata vest over four years from the date of the grant, so long as
you are employed on each vesting date.

 

 

 

 

Severance Pay

Should you be terminated involuntarily without cause, you will be eligible to
receive severance pay of up to 6 (six) months of your base pay paid on a
semi-monthly basis from the date of termination, or until you begin other
employment, whichever occurs first.  Receipt of severance pay is contingent upon
the signing of an agreement and release.

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Vacation

You will be eligible for 4 weeks of vacation in 2005.

 

 

 

 

Benefits

You will be eligible to participate in all health and welfare benefit programs
available to similarly situated U.S. Concrete team members.  A copy of the
summary plan descriptions for these programs will be sent to you shortly.  Also,
you will be eligible to participate in U.S. Concrete’s 401(k) and Employee Stock
Purchase Plan.

As you are aware, federal law requires us to verify your eligibility for
employment in the United States.  We will review the customary I-9 documentation
at your time of hire.  Please be advised that nothing in this term sheet is
intended to create any contract of employment.  If you accept employment with
U.S. Concrete, your employment will be on an at-will basis, which means that
either you or U.S. Concrete may terminate the employment relationship at any
time with or without notice and with or without cause.

Sean, we are extremely pleased to have the opportunity to work with an
individual of your capability and reputation.  Please acknowledge your
acceptance of this offer by signing in the space below and returning the letter
to me.  If you have any questions, do not hesitate to give me a call.

Sincerely,

 

 

 

/s/ Robert Hardy

 

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Robert Hardy

 

Senior Vice President – CFO

 

U.S. Concrete

 

 

 

 

 

Agreed and Accepted

 

 

 

 

 

/s/ Sean M. Gore

 

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Date

2/15/05

 

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