EX-10.01



 Exhibit 10.01 

EMPLOYMENT AGREEMENT 

This Employment Agreement (the “Agreement”) is entered into between Centuri Construction Group, Inc.
(“Centuri”) and Paul M. Daily (“Employee”) on this 18th day of April, 2016 (the “Effective Date”). For purposes of this Agreement,
“Employer” shall mean Centuri or any other affiliated entity that is deemed to be the employer of Employee, and “Employer Group” shall mean Centuri and its predecessors, successors, and past, present and future operating
companies, divisions, subsidiaries and/or affiliates. 
  

	I.	 RECITALS  



WHEREAS, Centuri has offered to Employee, subject to the terms and conditions of this Agreement, employment in the position of
President and Chief Executive Officer of Centuri and Employee has agreed to accept such employment pursuant to the terms and conditions hereof. 

NOW, THEREFORE, in consideration of the promises and obligations of Employer and Employee under this Agreement, and other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Employer and Employee hereby agree as follows: 
  

	II.	 TERMS OF EMPLOYMENT 



A. Position and Duties. Employee is hereby employed by Employer as President and Chief Executive Officer. Employee shall
have the primary responsibilities, duties and authority described in Exhibit A hereto, as the same may be modified from time to time by the Board of Directors of Centuri (“Board”) or the Chairman of the Board in their
discretion in a manner consistent with Employee’s position. Employee shall devote his full business time, attention and effort to the performance of this Agreement and to his duties as described herein. 

1. Employee shall faithfully adhere to, execute and fulfill the duties described in Exhibit A hereto, as in effect from
time to time, and any such other duties as shall be assigned to Employee from time to time by the Board or the Chairman of the Board. 

2. Employee agrees to devote full business time, attention and effort to the business and affairs of Employer, to discharge the
responsibilities assigned to Employee hereunder, and to use Employee’s reasonable best efforts to perform faithfully and efficiently such responsibilities. 

3. Employee shall not, during the term of his employment, be engaged in any other business activity pursued for gain, profit or
other pecuniary advantage if such activity interferes with Employee’s duties and responsibilities to Employer. The foregoing limitations shall not be construed as prohibiting Employee from serving on corporate, civic or charitable boards or
committees, delivering lectures or fulfilling speaking engagements, teaching at educational institutions, or making personal investments, so long as (i) such activities do not significantly interfere with the performance of Employee’s
responsibilities to Employer as set forth in this Agreement or present a conflict of interest and (ii) any outside board position is approved by the Chairman of the Board. 







 4. In the performance of his duties, Employee shall use his best efforts to
adhere to the legal requirements codified in statutes, ordinances and governmental regulations applicable to Employer. 
 B.
Term. The initial term of this Agreement shall begin on the Effective Date and shall continue until April 18, 2018, unless terminated sooner pursuant to the provisions of this Agreement (the “Initial Term”). At the
expiration of the Initial Term, unless terminated sooner pursuant to the provisions of this Agreement, and each annual anniversary thereafter, this Agreement will renew automatically for an additional one (1) year period (the “Renewal
Term”) unless either party notifies the other party in writing of its or his intention not to renew this Agreement (the “Renewal Termination Notice”) not less than six (6) months prior to the expiration of the Initial
Term or of any Renewal Term (the Initial Term and any Renewal Term are referred to collectively as the “Term”). 

1. Termination upon Death. This Agreement (and all of Employee’s rights and Employer’s obligations hereunder
except as provided for in Employer’s welfare benefit or incentive plans that Employee participates in at time of death) shall terminate as of the date of Employee’s death. 

2. Termination upon Disability. If Employee becomes Disabled as defined herein, Employer may, by written notice to
Employee, terminate this Agreement and Employee’s employment hereunder. For purposes of this Agreement, “Disabled” or “Disability” means, as determined by the Board, that (i) Employee is unable to engage
in any substantial gainful activity by reason of a physical or mental impairment that is expected to result in death or last twelve (12) months or more, or Employee receives replacement income for three (3) months or more due to such
physical or mental impairment or (ii) such other definition that complies with the definition of disability under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations promulgated
thereunder. 
 3. Termination for Cause. Employer may terminate this Agreement and Employee’s employment
hereunder for Cause by providing written notice to Employee of its intention to do so. For purposes of this Agreement, “Cause” shall mean: 

a) Employee’s negligence in the performance of, intentional nonperformance of, or inattention to his material duties and
responsibilities hereunder, any of which continue for five (5) business days after receipt of written notice of need to cure the same; 

b) Employee’s willful dishonesty, fraud or material misconduct with respect to the business or affairs of Employer; 

c) the violation by Employee of any of Employer’s policies or procedures, which violation is not cured by Employee within
five (5) business days after Employee has been given written notice thereof; 

  
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 d) a conviction of, a plea of nolo contendere, a guilty plea, or confession by
Employee to, an act of fraud, misappropriation or embezzlement or any crime punishable as a felony or any other crime that involves moral turpitude; 

e) Employee’s use of illegal substances or habitual drunkenness; or 

f) the breach by Employee of this Agreement if Employee does not cure such breach within five (5) business days after
Employee has been given written notice thereof. 
 4. Termination for Good Reason. Employee may terminate this
Agreement and his employment hereunder for Good Reason in the twenty-four (24) months following a Change in Control by providing written notice to Employer of his intention to do so. For purposes of this Agreement, “Good
Reason” shall mean: 
 a) the assignment to Employee of any duties inconsistent with Employee’s position
(including offices, titles and reporting requirements), authority, duties or responsibilities as contemplated by Section II.A of this Agreement and as in effect immediately prior to the Change in Control, or any other action by Employer that results
in a diminution in such position, authority, duties or responsibilities (excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith); 

b) any material breach of this Agreement by Employer, including any requirement that Employee be based at any office or
location that results in a violation of Section II.E of this Agreement; 
 c) any failure by Employer to comply with any of
the provisions of Section III of this Agreement (excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith); 

d) any failure by Employer to continue in effect any cash or stock-based incentive or
bonus plan, retirement plan, welfare benefit plan or other compensation, retirement or benefit plan and policy, unless the aggregate value (as computed by an independent employee benefits consultant selected by Employer and reasonably acceptable to
Employee or Employee’s legal representative) of all such compensation, retirement or benefit plans and policies provided to Employee is not materially less than their aggregate value as in effect at any time during the one hundred twenty
(120) day period immediately preceding a Change in Control or, if more favorable to Employee, those provided generally at any time after the Change in Control to other peer employees of Employer and its affiliated companies; 

e) Employee’s receipt from Employer of a Renewal Termination Notice as provided in Section II.B; and 

f) in the event of a pending Change in Control, Employer and Employee have not received written notice at least five
(5) business days prior to the anticipated closing date of the transaction giving rise to the Change in Control from the successor to all or a substantial portion of the Employer Group’s business and/or assets that such successor is
willing as of the closing to assume and agree to perform Employer’s obligations under this Agreement in the same manner and to the same extent that Employer is hereby required to perform. 

  
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 Employee must provide written notice to Employer of the existence of the condition(s) described
in Section II.B.4.a through Section II.B.4.d above within 90 days of the initial existence of the condition(s). Employer shall have 30 days after such notice is given during which to remedy the condition(s), and such occurrence shall not be deemed
to constitute Good Reason if such event or circumstance has been fully corrected by Employer within the 30 day cure period and Employee has been reasonably compensated for monetary losses or damages resulting therefrom. 

For purposes of this Agreement, “Change in Control” shall mean (1) the sale (other than to a member of the Employer
Group) of substantially all of the operating assets of (a) Centuri and its subsidiaries or (b) the Parent Company and its subsidiaries, (2) the acquisition (other than by a member of the Employer Group) of more than fifty percent
(50%) of the stock of Centuri by a group of shareholders or an entity which acquires control of Centuri, (3) a merger or consolidation of Centuri with any other entity, other than a merger or consolidation which would result in the voting
securities of Centuri outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) fifty percent (50%) or more of the total voting power
represented by the voting securities of Centuri or such surviving entity outstanding immediately after such merger or consolidation, (4) a merger or consolidation of Parent Company with any other entity, other than a merger or consolidation
which would result in the voting securities of Parent Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) fifty percent
(50%) or more of the total voting power represented by the voting securities of Parent Company or such surviving entity outstanding immediately after such merger or consolidation, (5) any “person” (as such term is used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), but excluding any person described in and satisfying the conditions of Rule 13d-1(b)(1) thereunder), becomes the beneficial owner (as
defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Parent Company representing more than 30% of the combined voting power of the Parent Company’s then outstanding securities entitled to then vote
generally in the election of directors of the Parent Company, or (6) during any period not longer than two (2) consecutive years, individuals who at the beginning of such period constituted the board of directors of the Parent Company
cease to constitute at least a majority thereof, unless the election, or the nomination for election by the Parent Company’s shareholders, of each new board member was approved by a vote of at least three-fourths (3/4) of the board members
then still in office who were board members at the beginning of such period (including for these purposes, new members whose election was so approved). For purposes of this Agreement, “Parent Company” shall mean Southwest Gas
Corporation or, following the reorganization described in Southwest Gas Corporation’s Form 8-K filed with the Securities and Exchange Commission on October 13, 2015, the new publicly traded holding company that will directly or indirectly
hold majority equity interests of Southwest Gas Corporation and Centuri. It is expressly understood that the reorganization described in such Form 8-K will not constitute a Change in Control. 

  
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 C. Notice of Termination. Any termination by Employer for Cause or
Disability or by Employee for Good Reason shall be communicated by a Notice of Termination provided to the other party pursuant to the provisions of Section VIII.C of this Agreement. For purposes of this Agreement, “Notice of
Termination” means a written notice that: (1) indicates the specific termination provision or provisions as set forth in this Agreement relied upon by either Employer or Employee; (2) to the extent applicable, sets forth in
reasonable detail the facts and circumstances claimed to provide the basis for termination under the provision or provisions of this Agreement relied upon by either Employer or Employee; and (3) if the Date of Termination (as defined below) is
other than the date of receipt of such Notice of Termination, specifies the termination date. The failure by either Employer or Employee to set forth in the Notice of Termination any fact or circumstance that contributes to a showing of Cause or
Good Reason shall not waive any right of Employer or Employee or preclude Employer or Employee from asserting such fact or circumstance in enforcing Employer’s or Employee’s rights or obligations under this Agreement. 

D. Date of Termination. According to this Agreement, “Date of Termination” shall mean: (1) if
Employee’s employment is terminated for Cause or Disability, or by Employee for Good Reason, the date of receipt of the Notice of Termination or any later date specified therein or as required under this Agreement; (2) if Employee’s
employment is terminated by Employer other than for Cause or Disability, the Date of Termination shall be the date on which Employer notifies Employee of such termination; (3) if Employee’s employment is terminated by reason of death, the
Date of Termination shall be the date of the death of Employee; or (4) if Employee voluntarily terminates his employment, the Date of Termination shall be the date on which Employee and Employer shall agree to be the Date of Termination. 

E. Place of Performance. Nothing contained in this Agreement shall be deemed to require Employee to relocate from
Phoenix, Arizona to another geographic location in order to carry out Employee’s duties and responsibilities under this Agreement, other than normal business travel consistent with Employee’s duties, responsibilities and position. 

F. Representation. Employee represents and warrants to Centuri that Employee is not bound by any covenant not to compete
or similar agreement that would prohibit Employee from performing, or would restrict or limit Employee in Employee’s performance of, Employee’s job duties for Centuri. Employee shall indemnify and hold harmless Employer Group and its
officers, managers, members, agents and representatives from and against any damages, losses, claims, costs (including attorneys’ fees) incurred by any of them arising out of or resulting from any breach of the foregoing representation and
warranty by Employee. Centuri acknowledges that Employee is subject to a non-solicitation of IEA employees until September 3, 2016. 
  

	III.	 COMPENSATION 



A. Annual Base Salary. Employer agrees to compensate and pay Employee, or to cause Employee to be compensated and paid
no less than, an annual base salary of $475,000, payable on a regular basis in accordance with Employer’s standard payroll procedures but not less frequently than monthly. 

  
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 On at least an annual basis, the Board or a duly constituted committee thereof will review
Employee’s performance and may make increases to Employee’s annual base salary if, in its sole discretion, any such increase is warranted. 

B. Bonus. Employee shall participate in Employer’s short-term, long-term and supplemental incentive bonus plans (as
applicable) at a level commensurate with Employee’s position. Employee’s target cash award opportunity is 120% of base salary for the Short-Term Incentive Plan and 50% of base salary for the Long Term Incentive Plan, subject to the
provisions contained in the plan documents, copies of which have been provided to Employee. Employee may participate in other current and future incentive bonus plans as determined by the Board or a duly constituted committee thereof. During his
first thirty (30) days of employment, Employee must elect to have his Short-Term Incentive Plan payout for fiscal year 2016 either fixed at target or based on actual performance results for 2016 (which could cause the payout to be above or
below target). The election must be provided in writing to the Chairman of the Board. If no election is timely made, the Short-Term Incentive Plan will payout based on actual performance results for 2016. In either case, the 2016 payment will be
prorated to nine (9) months. 
 C. Incentive, Savings and Retirement Plans; Perquisites; LTCIP Contributions.
Employee shall be entitled to participate in all incentive, deferred compensation, savings and retirement plans, perquisites, practices, policies and programs generally applicable to other peer employees of Employer. Employee is required to
participate in the Long-Term Capital Investment Plan (“LTCIP”). The LTCIP currently requires Employee to invest at least fifty percent (50%) of his short-term incentive until he meets the established investment requirement. On both
the first and second anniversaries of Employee’s hire date, if Employee is still employed by Employer, Centuri will deposit $237,500 into Employee’s LTCIP account. The Centuri contribution will count toward the total investment
requirement, but it does not negate Employee’s obligation to contribute at least fifty percent (50%) of his short-term incentive each year until the investment requirement is met. During the Initial Term, Employer shall provide Employee an
annual vehicle allowance of no less than $23,400 with the business cost of gasoline paid by the Company, social club membership consistent with its existing policies, $5,000 allowance every 3 years for basic estate and financial planning (not to be
used for income tax filings). Following the Initial Term, any vehicle allowance, social club membership or basic estate and financial planning allowance will be based on current Centuri policies then in effect. 

D. Welfare Benefit Plans. Employee and Employee’s eligible dependents shall receive coverage under the welfare
benefit plans, practices, policies and programs provided by Employer including, but not limited to, medical, prescription, dental, disability, group life (no less than $500,000 life insurance coverage paid by Employer for Employee), accidental death
and travel accident insurance plans and programs, generally applicable to other peer employees of Employer, the terms and conditions of which shall be no less favorable than those available to other similarly situated officers of Employer. Employee
will be entitled to no less than four (4) weeks of annual vacation. 
 E. Reimbursement of Expenses. Employer
shall reimburse Employee or cause Employee to be promptly reimbursed for all reasonable and necessary expenses incurred by Employee in furtherance of the business and affairs of the Employer Group including, but not


  
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limited to, all travel expenses and living expenses while away from home on business or at the request of Employer or the Board. Such reimbursement shall be effected as soon as reasonably
practicable after such expenditures are made, against presentation of signed, itemized expense reports in accordance with the travel and business expense reimbursement policies of Employer. This provision does not apply to relocation expenses. 

F. Relocation. In lieu of reimbursement under the Employer’s relocation policy, Employer will pay Employee
$150,000, payable in $50,000 installments following each of the first three (3) months of Employee’s employment. If Employee’s employment hereunder terminates for any reason other than his death or disability or termination by
Employer without Cause during the Initial Term, Employee agrees to promptly reimburse Centuri for a portion of the $150,000 payment, based on the following fraction: the number of months remaining in the Initial Term as of the Date of Termination
over twenty-four (24) months. 
 G. Severance Benefits upon Termination. As set forth below, the following
obligations are imposed upon Employer upon termination of this Agreement; provided, however, that to be entitled to such severance benefits, Employee will be required to execute, and not revoke, a Confidential Severance Agreement and Release
provided by Employer as more fully described in Section III.J below. 
 1. Death. If Employee’s employment is
terminated due to his death, Employee shall not be entitled to any severance benefits under the terms of this Agreement. 

2. Disability. If Employee’s employment is terminated due to his Disability, Employee shall be entitled to
severance benefits equal to one (1) year of Employee’s annual base salary. Subject to Employee’s compliance with the requirements of Section III.J below, such severance benefits shall be paid to Employee in a lump-sum payment within sixty (60) days of the Date of Termination. 
 3.
Cause. If Employee’s employment is terminated for Cause as defined under this Agreement, Employee shall not be entitled to any severance benefits under the terms of this Agreement except for payment of amounts of Base Salary accrued
through the termination date. 
 4. Without Cause. If Employee’s employment is terminated by Employer without
Cause (other than within the twenty-four (24) months following a Change in Control), Employee shall be entitled to severance benefits equal to two (2) years of Employee’s annual base salary plus payment of any unpaid Short-Term
Incentive Plan bonus from the year prior to the year of termination, and for a period of two (2) years following Employee’s termination continuation of medical, dental and vision benefit coverage for Employee and Employee’s dependents
at least equal to those that would have been provided to the same in accordance with the plans, programs, practices and policies described in Section III.D of this Agreement if Employee’s employment had not been terminated or, if more favorable
to Employee, as in effect generally at any time thereafter with respect to other peers of Employee; provided, however, that if Employee becomes reemployed with another employer and is eligible to 

  
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receive medical, dental or vision benefits under another employer provided plan, the medical, dental and vision benefits described herein shall be secondary to those provided under such other
plan during such applicable period of eligibility. Subject to Employee’s compliance with the requirements of Section III.J below, payment in respect of base salary shall be paid to Employee in a lump-sum
payment within sixty (60) days of the Date of Termination. In the event that Employee is entitled to receive severance benefits under Section III.H, Employee will not be entitled to receive severance benefits under this Section. 

5. Resignation by Employee. If Employee resigns his employment, Employee shall not be entitled to any severance benefits
under the terms of this Agreement unless (i) Employer is in material breach of the provisions of Section III.A through III.F of this Agreement taken as a whole (excluding for this purpose any isolated, insubstantial and inadvertent action not
taken in bad faith; (ii) Employee is required to relocate from Phoenix, Arizona inconsistent with Section II.E.; (iii) during the Initial Term of this Agreement John P. Hester ceases to serve in the capacity of Chief Executive Officer of
the Parent Company of Centuri and Employee resigns for Good Reason within twelve (12) months of Mr. Hester’s termination as Chief Executive Officer; or (iv) Employee resigns his employment for Good Reason within the twenty-four
(24) months following a Change in Control as described in Section III.H below. If Employee’s resignation is not subject to Section III.H. below and is due to events described in (i), (ii) or (iii) of this paragraph, Employee
shall be entitled to severance benefits as described in Section II.G.4. 
 H. Severance Benefits upon Change in
Control. Employee shall be entitled to the severance benefits provided in this Section III.H if, within twenty-four (24) months after a Change in Control: (i) the Employee terminates his employment with the Employer for Good Reason or
(ii) Employee’s employment is terminated by the Employer for any reason other than (x) Employee’s death, (y) Employee’s Disability or (z) Cause: 

1. Any restricted stock awards, restricted stock units, stock options, stock appreciation rights or performance shares to
purchase or relating to the Employer Group held by the Employee on the date of such termination, which are not then currently vested or exercisable, shall on such date automatically become vested or exercisable and shall remain exercisable for
ninety (90) days thereafter (subject to any fixed term of such award, unit, option, right or share set forth in the document evidencing such award, unit, option, right or share). 

2. A lump-sum severance payment equal to the sum of: 

(a) twenty-four (24) months of the Employee’s yearly base salary in effect as of the date of such termination or, if
greater, as of the date of such Change in Control, and 
 (b) an amount equal to any incentive compensation that would be
payable to the Employee under any short-term incentive compensation plan of Centuri, calculated at the designated award opportunity for the Employee at the Date of Termination or, if greater, as of the date of such Change in Control, and at 100% of
the target, for the period during the applicable plan year preceding the date of such termination and for the severance period of twenty-four (24) months following the date of such termination (such post-termination period, the “Severance
Period”), and 

  
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 (c) an amount equal to any incentive compensation that would be payable to the
Employee under any long-term incentive compensation plan of Centuri, calculated at the designated award opportunity for the Employee at the Date of Termination or, if greater, as of the date of such Change in Control, for the period during the
applicable plan years preceding the date of such termination as if Employee was retirement eligible under the applicable plan and for the Severance Period at two (2) times target for the most recent three-year cycle (i.e. $475,000 using base
salary, target and award opportunity at the time of execution of this Agreement), and 
 (d) an amount equal to the full
cost of health and dental coverage for Employee (and his eligible dependents) for the Severance Period, which amount shall be calculated based on the full cost of continued health and dental coverage for Employee (and his eligible dependents) under
the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended, as of the date of termination or, if greater, as of the date of such Change in Control, and 

(e) an amount equal to the full cost of replacement disability and life insurance coverage for Employee (other than
travel/accident) for the Severance Period, which cost shall be calculated as of the Date of Termination or, if greater, as of the date of such Change in Control. 

Subject to the limits in Section III.I. below, payment of the foregoing lump-sum severance payment shall be made in accordance with
Centuri’s regular payroll procedures and be made to Employee on the first regularly scheduled Centuri executive pay date that occurs sixty (60) days after the termination of Employee’s employment. 

3. Centuri shall pay Employee any benefits under Centuri’s benefit plans, which are fully vested on the date of such
termination, in accordance with their terms, including with respect to applicable payment schedules and any applicable elections. 

4. Employee shall be entitled to reimbursement of reasonable expenses actually incurred by Employee directly related to
outplacement services, which reimbursement shall not exceed Thirty Thousand Dollars ($30,000). Such reimbursement shall only be made for outplacement services directly related to such termination. Such expenses must be incurred not later than the
end of the second calendar year following the calendar year of such termination. Such expense must be submitted by Employee to Centuri as promptly as practicable, and in no event later than required by Centuri in order for Centuri to make such
reimbursement no later than last day of the third calendar year following the calendar year in which such termination occurs. In no event shall Centuri make any such reimbursement later than the last day of the third calendar year following the
calendar year in which such termination occurs. 
 5. If Employee’s employment is terminated by Employer prior to the
occurrence of a Change in Control, and if it can be shown that Employee’s termination (a) was at the direction or request of a third party that had taken steps reasonably calculated to effect the Change in Control thereafter, or
(b) otherwise occurred in connection with, or in furtherance of, the Change in Control, Employee shall have the rights described in this Section III.H above, as if a Change in Control had occurred on the date immediately preceding such
termination. 

  
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 6. Limitation on Severance Benefits. Anything in this Agreement to the
contrary notwithstanding, in the event that it shall be determined (as herein after provided) that any payment or distribution by Employer or any of its affiliates to or for the benefit of Employee, whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise pursuant to or by reason of any other agreement, policy, plan, program, or arrangement including, without limitation, any stock option, restricted stock, stock appreciation right or
similar right, or the lapse or termination of any restriction on, or the vesting or exercisability of, any of the foregoing (individually and collectively, a “Payment”), would be subject, but for the application of this Section
III.H.6 to the excise tax imposed by Section 4999 of the Code, or any successor provision thereto (hereinafter the “Excise Tax”), by reason of being considered “contingent on a change in ownership or control” of Employer,
within the meaning of Section 280G(b)(2) of the Code, or any successor provision thereto, then: 
 a) if the After-Tax Payment Amount would be greater by reducing the amount of the Payment otherwise payable to Employee to the minimum extent necessary (but in no event less than zero) so that, after such reduction, no
portion of the Payment would be subject to the Excise Tax, then the Payment shall be so reduced; and 
 b) if the After-Tax Payment Amount would be greater without the reduction then there shall be no reduction in the Payment. 

As used in this Section III.H.6, “After-Tax Payment Amount” means (i) the amount
of the Payment, less (ii) the amount of federal income taxes payable with respect to the Payment calculated at the maximum marginal income tax rate for each year in which the Payment shall be paid to Employee (based upon the rate in effect for
such year as set forth in the Code at the time of the Payment), less (iii) the amount of the Excise Tax, if any, imposed upon the Payment. For purposes of any reduction made under Section III.H.2, the Payments that shall be reduced shall be
those that provide Employee the best economic benefit, and to the extent any Payments are economically equivalent, each shall be reduced pro rata. 

I. Compliance with Section 409A of the Code. The payments to be made under this Agreement are intended to be exempt
from or compliant with Section 409A of the Code. Specifically, the severance payments and benefits under Section III.G and Section III.H hereof are intended to be exempt from Section 409A of the Code by compliance with the short-term deferral exemption as specified in 26 C.F.R. Section 1.409A-1(b)(4) and/or the separation pay exemption as specified in 26 C.F.R. Section 1.409A-1(b)(9) or are intended to comply with Section 409A of the Code including, but not limited to, being paid upon disability pursuant to 26 C.F.R.
Section 1.409-3(i)(4), pursuant to change in control event pursuant to 26 C.F.R. Section 1.409A-3(i)(5) or pursuant to a fixed schedule or specified date
pursuant to 26 C.F.R. Section 1.409A-3(a), and the provisions of this Agreement will be administered, interpreted and construed accordingly. Notwithstanding the foregoing, Employer makes no representation
or warranty and shall have no liability to Employee or any other person if any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code and do not satisfy an exemption from, or the
conditions of, Section 409A of the Code. 

  
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 For all purposes of this Agreement, Employee shall be considered to have terminated employment
with Employer when Employee incurs a “separation from service” with the Employer Group within the meaning of Section 409A(a)(2)(A)(i) of the Code. 

If Centuri determines that severance payments due under this Agreement on account of termination of Employee’s employment constitute
“deferred compensation” subject to Section 409A of the Code, and that Employee is a “specified employee” as defined in Section 409A(a)(2)(B)(i) of the Code and 26 C.F.R.
Section 1.409A-1(i), then such severance payments shall commence on the first payroll date of the seventh month following the month in which Employee’s termination occurs (with the first such payment
being a lump sum equal to the aggregate severance payments Employee would have received during the prior six-month period if no such delay had been imposed). For purposes of this Agreement, whether Employee is a “specified employee” will
be determined by Centuri. 
 All reimbursements and in-kind benefits provided under this Agreement shall be made or provided in accordance
with the requirements of Section 409A of the Code and the regulations to the extent that such reimbursements or in-kind benefits are not excepted from Section 409A of the Code, including where applicable, the requirement that (i) any
reimbursement is for expenses incurred during Employee’s lifetime (or during a shorter period of time specified in the Agreement); (ii) the amount of expenses eligible for reimbursement during the calendar year may not affect the expenses
eligible for reimbursement in any other calendar year; (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred; and (iv) the right to
reimbursement is not subject to set off or liquidation or exchange for any other benefit. 
 J. Confidential Severance
Agreement and Release. Notwithstanding any provision herein to the contrary, if Employee has not delivered to Employer an executed Confidential Severance Agreement and Release (the “Release”) on or before the fiftieth
(50th) day after the Date of Termination, or if Employee revokes such executed Release prior to the sixtieth (60th) day after the Date of Termination, Employee shall forfeit all of the payments and benefits described in Section III.G.2 or
Section III.G.4, as applicable; provided, however, that Employee shall not forfeit such amounts if Employer has not delivered to Employee the required form of Release on or before the 25th day following the Date of Termination. A form of Release is
attached as Exhibit B hereto. Employee acknowledges that Employer retains the right to modify the required form of the Release as Employer deems necessary in order to effectuate a full and complete release of claims against the Employer Group
and its affiliates, officers and directors. 
  

	IV.	 COMPANY-RELATED INVENTIONS AND DEVELOPMENTS



 A. Records of Inventions. Employee shall keep complete and current written records of Inventions
and Developments made during the course of his employment with Employer and promptly disclose all such Inventions and Developments in writing to Employer so that it may adequately determine its rights in such Inventions and Developments. Employee
shall supplement any such disclosure to the extent Employer may request. If Employee has any doubt as to whether or not to disclose any Inventions and Developments, Employee shall disclose the same to Employer. 

  
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 B. Ownership of Inventions. All
Company-Related Inventions and Developments made by Employee during the term of his employment with Employer shall be the sole and exclusive property of the applicable member(s) of the Employer Group. Employee
shall assign, and does hereby assign, his entire right, title and interest in such Company-Related Inventions and Developments to the applicable member(s) of the Employer Group. Employer’s ownership and
the foregoing assignment shall apply, without limitation, to all rights under the patent, copyright, and trade secret laws of any jurisdiction relating to Company-Related Inventions and Developments. If
Employee asserts any property right in any Inventions and Developments made by Employee during the term of his employment with Employer, Employee shall promptly notify Employer of the same in writing. 

C. Cooperation with Employer. Employee shall assist and fully cooperate with Employer in obtaining and maintaining the
fullest measure of legal protection which the Employer Group elects to obtain and maintain for Inventions and Developments in which the Employer Group has a property right. Employee shall execute any lawful document requested by Employer relating to
obtaining and maintaining legal protection for any said Inventions and Developments including, but not limited to, executing applications, assignments, oaths, declarations and affidavits. Employee shall make himself available for interviews,
depositions and testimony relating to any said Inventions and Developments. These obligations shall survive the termination of Employee’s employment with Employer, provided that Employer shall compensate Employee at a reasonable rate after such
termination for time actually spent by Employee at Employer’s requests on such assistance. In the event Employer is unable for any reason whatsoever to secure Employee’s signature to any document reasonably necessary or appropriate for any
of the foregoing purposes including, but not limited to, renewals, extensions, continuations, divisions or continuations in part, in a timely manner, Employee irrevocably designates and appoints Employer and its duly authorized officers and agents
as his agents and attorneys-in-fact to act for Employee and on his behalf, but only for purposes of executing and filing any such document and doing all other lawfully
permitted acts to accomplish the foregoing purposes with the same legal force and effect as if executed by Employee. 
 D.
Pre-employment Inventions. Employee shall completely identify on Exhibit C attached hereto, without disclosing any trade secret or other proprietary and confidential information, all Inventions
and Developments made by Employee prior to his employment with Employer or prior to execution of this Agreement in which Employee has an ownership interest and which is not the subject matter of an issued patent or a printed publication at the time
Employee executes this Agreement. 
 E. Disclosure of Inventions after Termination. Employee shall promptly and
completely disclose in writing to Employer’s law department all Company-Related Inventions and Developments made by Employee during the one (1) year immediately following Employee’s termination
of employment, whether voluntarily or involuntarily, for the purposes of determining Employer’s rights in each such invention. It will be presumed that Company-Related Inventions and Developments
conceived by Employee which are reduced to practice within one (1) year after termination of Employee’s employment, whether voluntary or involuntary, were conceived during the term of Employee’s employment with Employer unless
Employee is able to establish a later conception date by clear and convincing evidence. 

  
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 F. As used in this Agreement, “Proprietary and Confidential
Information” means any and all non-public information or data in any form or medium, tangible or intangible, which has commercial value and which the Employer Group possesses or to which the Employer
Group has rights. Proprietary and Confidential Information includes, by way of example and without limitation, information concerning the Employer Group’s specific manner of doing business, including, but not limited to, the processes, methods
or techniques utilized by the Employer Group, the Employer Group’s customers, marketing strategies and plans, pricing information, sources of supply and material specifications, the Employer Group’s computer programs, system documentation,
special hardware, related software development, and the Employer Group’s business models, manuals, formulations, equipment, compositions, configurations, know-how, ideas, improvements and inventions. 

Proprietary and Confidential Information also includes information developed by Employee during his course of employment with Employer or
otherwise relating to Company-Related Inventions and Developments, as hereinafter defined, as well as other information to which he may be given access to in connection with his employment. 

G. As used in this Agreement, “Inventions and Developments” means any and all inventions, developments,
creative works and useful ideas of any description whatsoever, whether or not patentable. Inventions and Developments include, by way of example and without limitation, discoveries and improvements that consist of or relate to any form of
Proprietary and Confidential Information. 
 H. As used in this Agreement,
“Company-Related Inventions and Developments” means all Inventions and Developments that: (a) relate at the time of conception or development to the actual business of the Employer Group
or to its actual research and development or to business or research and development that is the subject of active planning at the time; (b) result from or relate to any work performed for Employer, whether or not during normal business hours;
(c) are developed on Employer’s time; or (d) are developed through the use of the Employer Group’s Proprietary and Confidential Information, equipment, software, or other facilities and resources. 

I. For purposes of this Agreement, “make” or “made,” when used in relation to Inventions and
Developments, includes any one or any combination of: (a) conception; (b) reduction to practice; or (c) development; and is without regard to whether Employee is a sole or joint inventor. 

J. Acknowledgement. As of the date of this Agreement, the Employer Group is engaged primarily in the business of
specialty contracting and construction for customers in: the energy sector (which includes natural gas, electric power, oil, and solar and other such renewables); pipeline; conduit; telecommunications; municipal water; waste management;
transportation; manufacturing; and traffic control. As such, the Employer Group has developed and continues to develop and use certain trade secrets and other Proprietary and Confidential Information, as hereinafter defined. The Employer Group has
spent a substantial amount of time, effort and money, and will continue to do so in the future, to develop or acquire such Proprietary and Confidential Information and promote and increase its good will. Employer and Employee acknowledge and agree
that Proprietary and Confidential Information is an asset of particular and immeasurable value to the Employer Group. 

  
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	V.	OBLIGATIONS RELATING TO PROPRIETARY AND CONFIDENTIAL INFORMATION 

  

	 	A.	 Obligations of Employer. 



1. Proprietary and Confidential Information. Employer shall provide Employee, during his employment, with valuable
Proprietary and Confidential Information for the purpose of assisting Employee in the performance of his job requirements and responsibilities with Employer. In addition, Employer shall provide to Employee, during his employment, with the equipment,
materials and facilities necessary to assist Employee in the performance of his job requirements and responsibilities with Employer. 

2. Training. Employer shall provide Employee with any and all specialized training necessary to assist Employee in the
performance of his job requirements and responsibilities with Employer including, but not limited to, training relating to the Employer Group’s cost structures, methods of operation, the Employer Group’s products and marketing techniques,
the Employer Group’s business strategies, plans and models. 
  

	 	B.	 Obligations of Employee. 



1. Nondisclosure of Proprietary and Confidential Information. Both during and after the termination of employment,
whether such termination is voluntary or involuntary, Employee shall keep in confidence and trust all Proprietary and Confidential Information. Both during and after the termination of employment, whether such termination is voluntary or
involuntary, Employee shall not use or disclose Proprietary or Confidential Information without the written consent of Employer, except as may be necessary in the ordinary course of performing his duties to Employer. 

2. Return of Proprietary and Confidential Information. All documents and tangible things (whether written or electronic)
embodying or containing Proprietary and Confidential Information are the Employer Group’s exclusive property. Employee shall be provided with or given access to such Proprietary and Confidential Information solely for performing his duties of
employment with Employer. Employee shall protect the confidentiality of their content and shall return all such Proprietary and Confidential Information, including all copies, facsimiles and specimens of them in any tangible or electronic forms in
Employee’s possession, custody or control to Employer before leaving the employment of Employer for any reason, whether voluntary or involuntary. 

3. Confidential Information from Previous Employment. Employee shall not disclose or use during his employment with
Employer any proprietary and confidential information which Employee has acquired as a result of any previous employment or under a contractual obligation of confidentiality before his employment with Employer and, furthermore, Employee shall not
bring to the premises of Employer any copies or other tangible embodiments of any such proprietary and confidential information. 

  
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 4. Conflict of Interest. Employee shall not engage in outside employment
or other activities in the course of which Employee would use or might be tempted or induced to use Proprietary and Confidential Information in other than the Employer Group’s own interest. 

5. Agreement Not to Compete/Solicit 

a) Non-Compete. Employee agrees that during the Covenant Period (as defined below), he
shall not, without Employer’s written consent, directly or indirectly, for himself or on behalf of or in conjunction with any other person, persons, company, partnership, corporation or business venture of any nature: 

(i) engage, as an officer, director, shareholder, owner, partner, joint venturer or in a managerial capacity, whether as an
employee, independent contractor, consultant, advisor or sales representative, in the Business of Employer Group (as the Business exists at the Date of Termination), within any state or province of the United States, Canada or any other country in
which the Employer Group conducts business, including without limitation any territory serviced by the Employer Group (the “Territory”); 

(ii) call upon any person or entity which is a Customer of the Employer Group within the Territory for the purpose of
soliciting or selling products or services in competition with the Employer Group; or 
 (iii) call upon any prospective
acquisition candidate, on Employee’s own behalf or on behalf of any competitor, which candidate was, to Employee’s actual knowledge after due inquiry, either called upon by the Employer Group or for which the Employer Group made an
acquisition analysis for the purpose of acquiring such entity. 
 For purposes of this provision, “Business” shall mean
providing any of the products or services offered by the Employer Group, as of the Date of Termination, and includes without limitation, the (i) installation, replacement, repair, inspection and maintenance of any infrastructure within the
energy sector, whether relating to oil, natural gas, electric power, or solar or other such renewables; (ii) installation, replacement, repair, inspection and maintenance of underground or overhead pipeline, cable, wire and conduit;
(iii) street and roadway repairs, whether by asphalt or concrete; (iv) installation, replacement, repair, inspection and maintenance of any infrastructure relating to municipal water and waste management; (v) installation,
replacement, repair, inspection and maintenance of industrial facilities, including shop fabrication; and (vi) traffic control. 
 For
purposes of this provision, “Customer” shall include any person or entity (i) for which Employer Group provided Business services within the twenty-four (24) months preceding the Date of Termination; (ii) for which Employer
Group sought to provide Business services within the twenty-four (24) months preceding the Date of Termination (which includes without limitation responding to a Request For Information or a Request For Quotation); and/or (iii) that has a
valid contract for Business services with a member of Employer Group as of the Date of 

  
 15 








 
Termination. Employee hereby acknowledges the reasonableness of the twenty-four month look back for the purposes of determining the Employer Group’s Customers, given the seasonal nature of
the relevant construction industry and long lead time until contract execution. 
 b)
Non-Solicitation. Employee agrees that during the Covenant Period, he shall not, without Employer’s written consent, employ, hire, solicit, induce or identify for employment or attempt to employ,
hire, solicit, induce or identify for employment, directly or indirectly, any employee(s) of the Employer Group on the Date of Termination to leave his or her employment and become an employee, consultant or representative of any other entity
including, but not limited to, Employee’s new employer, if any. 
 c) Publicly Traded Securities. The provisions
of Section VI.B.5 of this Agreement shall not prevent Employee from acquiring or holding publicly traded stock or other public securities of a competing company, so long as Employee’s ownership does not exceed two percent (2%) of the
outstanding securities of such company. 
 d) Agreement to Inform Subsequent Employers. For a period of two
(2) years after the termination of Employee’s employment with Employer, whether voluntary or involuntary, Employee agrees to inform each new employer, prior to accepting employment, of the existence of this Agreement and provide that
employer with a copy of this Agreement. 
 e) Reasonableness of Restrictions. Employee acknowledges that the
restrictions set forth in Section V.B.5 of this Agreement are intended to protect the Employer Group’s legitimate business interests and its Proprietary and Confidential Information and established relationships and good will. Employee
acknowledges that the time, geographic and scope of activity limitations set forth herein are reasonable and necessary to protect the Employer Group’s legitimate business interests. However, if in any judicial proceeding, a court shall refuse
to enforce this Agreement as written, whether because the time limitation is too long or because the restrictions contained herein are more extensive (whether as to geographic area, scope of activity or otherwise) than is necessary to protect the
legitimate business interests of the Employer Group, it is expressly understood and agreed between the parties hereto that this Agreement is deemed modified to the extent necessary to permit this Agreement to be enforced in any such proceedings.

 f) Ability to Obtain Other Employment. Employee acknowledges that (1) in the event of the termination of his
employment with Employer (whether voluntary or involuntary), Employee’s knowledge, experience and capabilities are such that Employee can obtain employment in business activities which are of a different and
non-competing nature than those performed in the course of his employment with Employer or in the geographic areas outside of the Territory and (2) the enforcement of a remedy hereunder including, but not
limited to, injunctive relief, will not prevent Employee from earning a reasonable livelihood. 
 g) Injunctive
Relief. Employee acknowledges that compliance with Section VI.B of this Agreement is necessary to protect the good will and other legitimate business interests of the Employer Group and that a breach of any or all of these provisions will give
rise to irreparable and continuing injury to the Employer Group that is not adequately compensable in monetary damages or at law. Accordingly, Employee agrees that Employer, its successors and assigns, may obtain injunctive relief against the breach
or threatened breach of 

  
 16 








 
any or all of these provisions, in addition to any other legal or equitable remedies which may be available to the Employer Group at law or in equity or under this Agreement. Because Employee
further acknowledges that it would be difficult to measure any damages caused to the Employer Group that might result from any breach by Employee of any promises set forth in this Agreement, Employee agrees that Employer shall be entitled to an
injunction or other appropriate equitable relief to restrain any such breach without showing or proving any actual damage to the Employer Group, as well as to be relieved of any obligation to provide further payment or benefits to Employee or
Employee’s dependents. 
 h) Other Remedies. If Employee violates and/or breaches this Agreement, Employer shall
be entitled to an accounting and repayment of all lost profits, compensation, commissions, remuneration or benefits that Employee directly or indirectly has realized or may realize as a result of any such violation or breach. Employer shall also be
entitled to recover for all lost sales, profits, commissions, good will and customers caused by Employee’s 
 improper acts, in addition
to and not in limitation of any injunctive relief or other rights or remedies that Employer is or may be entitled to at law or in equity or under this Agreement. 

i) Costs. Employee acknowledges that should it become necessary for Employer to file suit to enforce the provisions
contained herein, and any court of competent jurisdiction awards the Employer Group any damages and/or an injunction due to the acts of Employee, then Employer shall be entitled to recover its reasonable costs incurred in conducting the suit
including, but not limited to, reasonable attorneys’ fees and expenses. 
 j) Covenant Period. For purposes of
this Section V.B.5, the Covenant Period shall mean the period from and during the Term of this Agreement and ending on the date that is two (2) years after Employee’s employment with Employer terminates, whether voluntary or involuntary.
For purposes of clarity, in the event that Employee’s employment with Employer terminates for any reason, whether voluntary or involuntary, after Employee receives a Renewal Termination Notice and before the end of the Term, the Covenant Period
shall end on the date that is two (2) years after the termination of Employee’s employment and not two (2) years from the Renewal Termination Notice date. 

6. Nondisparagement. Employee acknowledges and agrees that both during and after his employment with Employer, whether
such termination is voluntary or involuntary, Employee shall not disparage, denigrate or comment negatively upon, either orally or in writing, the Employer Group or any of their respective officers, directors, employees or representatives, to or in
the presence of any person or entity unless compelled to act by a valid subpoena or other legal mandate; provided, however, if Employee receives such a valid subpoena or legal mandate, he shall provide Employer with written notice of the same at
least five (5) business days prior to the date on which Employee is required to make the disclosure. 
 Employer agrees to use
reasonable efforts to cause the directors and executive officers of Centuri and Parent Company not to disparage, denigrate or comment negatively upon Employee, either orally or in writing, to any person or entity that is not an officer, director or
employee of Employer Group unless compelled to act by a valid subpoena or other legal 

  
 17 








 
mandate; provided, however, if Employer receives such a valid subpoena or legal mandate, it shall provide Employee with written notice of the same at least five (5) business days prior to
the date on which Employer is required to make the disclosure. Employer and the directors and officers of Centuri and Parent Company will not provide any references to future employers or third parties without receiving a written request from
Employee with an executed release from any liability for Employer and its directors, officers, and employees. 
  

	VI.	WAIVER OF RIGHT TO JURY TRIAL 

 EMPLOYER AND EMPLOYEE HEREBY
VOLUNTARILY, KNOWINGLY AND INTENTIONALLY WAIVE ANY AND ALL RIGHTS TO TRIAL BY JURY FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THIS AGREEMENT, AS WELL AS FOR ALL CLAIMS ARISING OUT OF EMPLOYEE’S EMPLOYMENT WITH EMPLOYER OR TERMINATION
THEREFROM INCLUDING, BUT NOT LIMITED TO: 
 A. Any and all claims and causes of action arising under contract, tort or other
common law including, without limitation, breach of contract, fraud, estoppel, misrepresentation, express or implied duties of good faith and fair dealing, wrongful discharge, discrimination, retaliation, harassment, negligence, gross negligence,
false imprisonment, assault and battery, conspiracy, intentional or negligent infliction of emotional distress, slander, libel, defamation and invasion of privacy; 

B. Any and all claims and causes of action arising under any federal, state or local law, regulation or ordinance, including,
without limitation, claims arising under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans with Disabilities Act, the Family and Medical Leave Act, the Fair Labor Standards Act and all corresponding
state laws; and 
 C. Any and all claims and causes of action for wages, employee benefits, vacation pay, severance pay,
pension or profit sharing benefits, health or welfare benefits, bonus compensation, commissions, deferred compensation or other remuneration, employment benefits or compensation, past or future loss of pay or benefits or expenses. 

 

	VII.	CLAIMS 

 Employer and Employee acknowledge and agree that this Agreement shall be
interpreted, governed by and construed in accordance with the laws of the State of Nevada, without regard to the conflict of laws principles or rules thereof. 

Employer and Employee irrevocably and unconditionally agree that any legal suit, action or proceeding arising out of or relating to this
Agreement, as well as to all claims arising out of Employee’s employment with Employer or termination therefrom, shall be brought in either the Federal District Court for Nevada or in a judicial district court of Clark County, Nevada
(hereinafter referred to as the “Nevada Courts”). In that regard, Employer and Employee waive, to the fullest extent allowed, any objection that Employer or Employee may have to the venue of any such proceeding being brought in the
Nevada Courts, and any claim that any such 

  
 18 








 
action or proceeding brought in the Nevada Courts has been brought in an inconvenient forum. In addition, Employer and Employee irrevocably and unconditionally submit to the exclusive
jurisdiction of the Nevada Courts in any such suit, action or proceeding. Employer and Employee acknowledge and agree that a judgment in any suit, action or proceeding brought in the Nevada Courts shall be conclusive and binding on each and may be
enforced in any other courts to whose jurisdiction Employer or Employee is or may be subject to, by suit upon such judgment. 
 In the event
Employee obtains a final judgment in his favor by a court of competent jurisdiction with respect to any dispute regarding Employer’s failure to pay Employee on a timely basis the amounts to which he is entitled under this Agreement or as a
result of any other breach of this Agreement by Employer, Employer shall pay all amounts and damages to which Employee may be entitled as a result of such breach, including interest thereon and all reasonable legal fees and expense and other costs
incurred by Employee to enforce Employee’s rights hereunder. 
 VIII. MISCELLANEOUS 

A. Publicity Release. By executing this Agreement, Employee forever gives the Employer Group, its successors, assigns,
licensees and any other designees, the absolute right and permission, throughout the world: (1) to copyright (and to renew and extend any copyright), use, reuse, publish and republish photographic portraits and pictures, motion or still, of
Employee, or in which Employee may be included, in whole or in part, or composite or distorted character in any form, whether heretofore taken or to be taken in the future, in conjunction with Employee’s own or a fictitious name or title (which
Employee now has or may have in the future), or reproductions thereof, in color or otherwise, made through any media at any place, for art, advertising, trade or any other purpose whatsoever; and (2) to record, reproduce, amplify, simulate,
“double” and/or “dub” Employee’s voice and transmit the same by any mechanical or electronic means, for any purpose whatsoever. Employee further consents to the use of any printed matter giving Employee, or not giving
Employee, a credit, in the sole discretion of any of the aforementioned parties to whom this authorization and release is given, in conjunction therewith. Employee waives any right he may have to inspect and/or approve the finished product or the
advertising copy or printed matter that may be used in connection therewith, or the use to which it may be applied. 
 B.
Withholding. Employer may withhold from any amounts payable under this Agreement such federal, state, local, F.I.C.A., foreign or other taxes as shall be required to be withheld pursuant to any applicable law or regulation. 

C. Notices. All notices, consents, requests, instructions, approvals and other communications provided for in this
Agreement shall be in writing and shall be addressed as follows: 

  
 19 









			
	 To Employer:
	 	 Centuri Construction Group, Inc.

		 	 c/o Southwest Gas Corporation

		 	 5241 Spring Mountain Road

		 	 Las Vegas, NV 88150

		 	 Attention: General Counsel

		
	 To Employee:
	 	 Paul M. Daily

		 	 
		 	 

 Notice shall be deemed given and effective: (1) upon receipt, if delivered personally; (2) three
(3) days after it has been deposited in the U.S. mail, addressed as required above, and sent via registered or certified mail, return receipt requested, postage prepaid; or (3) the next business day after it has been sent via a recognized
overnight courier. Employer and/or Employee may change the address for notice purposes by notifying the other of such change in accordance with this Section VIII.C. 

D. Severability. If any provision of this Agreement is held to be invalid, inoperative or unenforceable for any reason,
it shall be modified rather than voided, if possible, in order to achieve the intent of the parties hereto to the maximum extent possible. In any event, if any provision of this Agreement is held to be invalid, inoperative or unenforceable for any
reason, the other provisions of this Agreement shall be deemed valid and operative and, so far as is reasonable and possible, effect shall be given to the intent manifested by the provision or provisions held invalid or inoperative. 

E. Survival of Certain Obligations. The obligations of the parties set forth in this Agreement that by their terms
extend beyond or survive the termination of this Agreement, whether voluntarily or involuntarily, will not be affected or diminished in any way by the termination of this Agreement. 

F. Headings. The headings contained in this Agreement are for purposes of reference and convenience only and are not
intended in any way to describe, interpret, define or limit the extent or intent of this Agreement. 
 G. Entire
Agreement. This Agreement supersedes any other agreements, written or oral, between the Employer Group and Employee, and Employee has no oral representations, understandings or agreements with the Employer Group or any of their respective
officers, directors or representatives covering the same subject matter as this Agreement. This written Agreement is the final, complete and exclusive statement and expression of the agreement between Employer and Employee and of all the terms of
this Agreement. This Agreement cannot be modified, varied, contradicted or supplemented by evidence of any prior or contemporaneous oral or written agreements. 

H. Amendment/Waiver. Neither this Agreement nor any term hereof may be modified or amended except by written instrument
signed by a duly authorized officer of Employer and by Employee. No term of this Agreement may be waived other than by written instrument signed by the party waiving the benefit of such term. Any such waiver shall constitute a waiver only with
respect to the specific matter described in such written instrument and shall in no way impair the rights of the party granting such waiver in any other respect or 

  
 20 








 
at any other time. Neither the waiver by Employer or Employee of a breach of or a default under any of the provisions of this Agreement, nor the failure by either Employer or Employee, on one or
more occasions, to enforce any of the provisions of this Agreement or to exercise any right or privilege hereunder, shall be construed as a waiver of any other breach or default of a similar nature, or as a waiver of any such provisions, rights or
privileges hereunder. 
 I. Assignment. This Agreement is personal to the parties and neither party may assign any
rights or obligations under the same without the prior written consent of the other; provided, however, that in the event of a sale of the Employer Group’s business to a third party (whether by sale of all or a majority of the Employer
Group’s issued and outstanding equity securities, by a merger or reorganization, or by a sale of all or substantially of the Employer Group’s assets), then this Agreement may be assigned by Employer to such third party purchaser without
the prior written consent of Employee, provided that such third party purchaser agrees to assume and abide by all of Employer’s obligations set forth in this Agreement and provides written notice thereof to Employee. In the event of any such
assignment, all references to “Centuri” hereunder shall mean the assignee, and to the extent any entity becomes the successor to Centuri, all obligations hereunder shall be the obligations of the successor and “Centuri” mean the
successor entity. 
 J. Counterparts. This Agreement may be executed simultaneously in two (2) or more
counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. 

[Signature page follows.] 

  
 21 








 IN WITNESS, WHEREOF, the parties hereto have executed this Agreement as of the
date first written above, but to be effective as of the Effective Date. 
  

			
	 CENTURI CONSTRUCTION GROUP, INC.:

		
	 By:
	 	 /s/ John P. Hester

		 	 John P. Hester

		 	 Chairman


  

	
	 EMPLOYEE:

	
	 /s/ Paul M. Daily

	 Paul M. Daily



  
 22