Document:

Exhibit 10.38

 Exhibit 10.38 

CONSULTING AGREEMENT 
 This Consulting Agreement (the “Agreement”) is entered to be effective as of February 1, 2012, by and between Integrated Electrical Services, Inc. (hereinafter “IES” or the
“Company”) and Terry L. Freeman (hereinafter “Consultant”). 
 RECITALS 

WHEREAS, until his separation from the Company on January 20, 2012 Consultant was an officer of IES, as well as an officer and
director of subsidiaries of IES (collectively the IES Companies); and 
 WHEREAS, Consultant has expertise in the area of
IES’ business and is willing to provide consulting services to IES as set forth herein and it is contemplated the Consultant will devote the necessary time in fulfillment of this Agreement, and 

WHEREAS, IES is willing and desires to engage Consultant as an independent contractor, and not as an employee, on the terms and
conditions Set forth herein. 
 AGREEMENT 
 In consideration of the foregoing and of the mutual promises set forth herein, and intending to be legally bound, the parties hereto agree as follows: 

1. Terms And Scope Of Services 
 a. This Agreement shall control and govern all work performed by Consultant under subsequent verbal or written orders or agreements for any type of service performed. No subsequent variance from,
amendment to or modification of this Agreement shall be binding upon the IES Companies unless it is in writing, expressly provides that it is intended as a variance, amendment or modification and is executed by a fully authorized representative of
IES Companies. 
 b. The term of this Agreement and scope of services to be provided hereunder is set forth in
“Exhibit A” and as further modified and amended under subsequent Written agreements between the parties. It is Understood that the maximum number of hours of services to be provided hereunder is 40 hours per month up to an aggregate
maximum of 120 hours during the Term, unless otherwise agreed in writing by the parties hereto. 
 2. Term; Termination;
Rights on Termination. This Agreement will commence on the date first written above, and unless modified by the mutual written agreement of the parties, shall continue for a period of six (6) months. This Agreement may be terminated at any
time, with or without cause, by either party with ten (10) days written notice to the other party. 

  
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 Terry Freeman - Consulting Agreement 
  

 In the event IES terminates this Agreement during the Term of this Agreement, Consultant
shall receive from IES, the monthly Consulting Fee (defined below) then in effect for whatever time period is remaining under the Term of this Agreement. 
 3. Compensation. 
 a. Consulting Fee. In
consideration of the services to be performed by Consultant, IES agrees to pay Consultant twenty thousand and 00/100 dollars ($20,000,00) payable in six (6) monthly installments in the amount of three thousand three hundred thirty-three and
33/100 dollars ($3,333.33) payable on or before the last business day of each month during the Term of this Agreement (“Consulting Fee”). 
 b. Business Expenses. All travel and out of pocket expenses incurred by Consultant for the benefit of the IES Companies and in the performance of this agreement shall be reimbursed by the Company
within ten (10) business days following presentation of valid expense receipts. 
 4. Taxes. Consultant agrees to
accept exclusive liability for the payment of any payroll taxes, contributions for unemployment insurance, old age and survivor’s insurance or annuities, which are based On wages, salaries or other remuneration paid to Consultant; and
Consultant agrees to reimburse IES for any of the aforesaid taxes or contributions which by law IES may be required to pay because of Consultant’s failure to pay the same. 

Further, the Consultant agrees to accept exclusive liability for the payment of any tax obligation under IRC §409A which are based
on wages, salaries, or other remuneration paid to Consultant and Consultant agrees to reimburse IES for any of the aforesaid taxes or contributions which by law IES may be required to pay because of Consultant’s failure to pay the same.

 5. Relationship Of The Parties 

a. The Consultant as an independent contractor shall perform the services rendered under this Agreement. It is
specifically understood and agreed that the manner and means of performing the services required under this Agreement shall be at the sole discretion of the Consultant through use of his independent judgment. 

b. The Consultant shall have no authority to bind IES Companies or any of its officers or employees to any agreement or to
make managerial or Consultant decisions that are binding on IES Companies. The Consultant shall not be subject to the supervision, direction or control of IES Companies as to the particular means or methods of performing his services. However, the
IES Companies shall retain the right to review and inspect at any time any part of the work performed by Consultant to assure compliance with customary standards arid specifications. 

  
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 Terry Freeman - Consulting Agreement 
  

 6. Delivery of Proprietary and Confidential Information. Upon request or when
Consultant’s relationship with the Company terminates, Consultant will immediately deliver to the Company all copies of any and all materials and writings received from, created for, or belonging to the Company including, but not limited to,
those which relate to or contain Proprietary or Confidential Information. 
 7. Entire Agreement. This Agreement contains
the entire understanding and agreement between the parties hereto with respect to its subject matter and supersedes any prior or contemporaneous written or oral agreements, representations or warranties between them respecting the subject matter
hereof. 
 8. Amendment. This Agreement may be amended only by a writing signed by Consultant and by a duly authorized
officer of IES. 
 9. Remedy for Breach. Should either Consultant or IES resort to legal proceedings to enforce this
Agreement, the prevailing party in such legal proceeding shall be awarded, in addition to such other relief as may be granted, attorneys’ fees and costs incurred in connection with such proceeding. 

10. Governing Law. This Agreement shall be construed in accordance with, and all actions arising hereurider shall be governed by,
the laws of the State of Texas and any dispute will be resolved in Harris County, Texas. 
 11. This Agreement is executed in
duplicate originals and is not effective unless signed by both parties. 
  

							
	Consultant	 		 	Integrated Electrical Services, Inc.
				
	 /s/ Terry L. Freeman
	 		 	By:	 	 /s/ William L. Fiedler

	Terry L. Freeman	 		 		 	William L. Fiedler
		 		 		 	Senior Vice President

  
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 Terry Freeman - Consulting Agreement 
  

 EXHIBIT “A” 

SCOPE OF SERVICES 
 IES hereby
engages Consultant to render, as an independent contractor to: 
  

	 	1.	Review of Forms 10-K and 10-Q. 

  

	 	2.	Consult with management regarding account and disclosure issues, internal controls and other related accounting and finance matters. 

 

	 	3.	Assist in the evaluation of and consult with management regarding the refinancing of the Company’s credit facility. 

It is contemplated that the Consultant may not be asked to perform all of the above listed services during the performance of this Agreement. At the same
time, it is contemplated that the Consultant may be asked to render and perform other valued consulting services to the Company. All services rendered and performance thereof, shall be at the direction of the Chief Financial Officer of IES.

  
 Page 4 of 4Exhibit 10.39

 Exhibit 10.39 

 
 

 
 INTEGRATED ELECTRICAL SERVICES, INC. 

SEPARATION AND GENERAL RELEASE AGREEMENT 
 This Separation and General Release Agreement (“Agreement”), dated as of August 31, 2012, is between William L. Fiedler (“Executive”) and Integrated Electrical Services, Inc., and
its subsidiaries and affiliated companies (collectively, the “Company”). 
 RECITALS 

WHEREAS, Executive and the Company entered into a certain Employment Agreement dated March 9, 2009, which was subsequently amended
and restated by that certain Amended and Restated Employment Agreement dated September 24, 2010 (collectively, the “Employment Amendment”); 
 WHEREAS, the Company and Executive have mutually elected to terminate the Employment Agreement and Executive’s employment with the Company pursuant to Section IV.C thereof; 

WHEREAS, Executive is entitled to certain specified severance benefits pursuant to Section IV.C.3 of the Employment Agreement; and

 WHEREAS, the receipt of such severance benefits is expressly conditioned on Executive entering into and not revoking a
general release pursuant to Section IV.G of the Employment Agreement. 
 NOW, THEREFORE, in consideration of the foregoing
recitals, the mutual agreements and undertakings of the parties set forth below, and other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby expressly acknowledged, Executive and the Company agree as follows:

 AGREEMENT 
  

	1.	Separation Date 

Executive’s last day of employment with the Company shall be August 31, 2012 (“Separation Date”). 

 

	2.	Severance 

 Subject to
paragraph 4 below, it is understood that pursuant to Section IV.C.3 of the Employment Agreement the Company will provide Executive certain severance payments and benefits (“Severance Payments”), including the following: 

a. Base Salary Continuation. Executive shall receive $300,000.00 (less applicable state and federal taxes, Medicare, FICA and other
customary deductions) payable ratably over a twelve (12) month period in accordance with the Company’s normal payroll practices commencing September 1, 2012. 

 b. Pro-Rated 2012 Annual Bonus. Executive shall be entitled to an Annual Bonus for
the 2012 Fiscal Year, pro-rated based on the percentage of the 2012 Fiscal Year that shall have elapsed through the Separation Date. The amount of any Annual Bonus shall be as determined by the Compensation Committee, including its determination of
the extent the performance objectives, if any, for the 2012 Fiscal Year have been achieved, and such Annual Bonus, if any, shall be payable at the same time that the annual bonuses for the 2012 Fiscal Year are paid to other similar executives of the
Company. 
 c. Restricted Stock Grants. Executive was granted an award of 14,200 shares of Restricted Company Common Stock
on September 28, 2010 of which 13,609 shares shall vest on the Separation Date and an award of 10,000 shares of Restricted Company Common Stock on December 16, 2010 of which 2,222 shares shall vest on the Separation Date, in accordance
with the terms of such grants (collectively, the “Vested Shares”). The Vested Shares (net of shares Executive elects to be withheld to satisfy federal and state income tax withholding) will be made available to Executive in book entry form
at the Company’s transfer agent (American Stock Transfer & Trust Company LLC) as soon as reasonably practicable following the Separation Date. 
 d. COBRA Payments. In the event Executive elects to continue to participate in the Company’s group health plans following termination of employment as provided under the Consolidated Omnibus
Budget Reconciliation Act of 1985, as amended (“COBRA”), Executive will be paid an amount equal to 100% of the applicable monthly COBRA premium under the Company’s group health plans (less applicable state and federal taxes, Medicare,
FICA and other customary deductions). Such payments shall continue for the lesser of twelve (12) months or until such COBRA coverage for Executive and his eligible dependents terminates. Executive agrees to notify the Company at such time that
he no longer is eligible for COBRA benefits. 
 e. Automobile Allowance. Executive’s shall receive $1,500.00 per
month (less applicable state and federal taxes, Medicare, FICA and other customary deductions) as continuation of his automobile allowance for twelve (12) months immediately following the Separation Date or until Executive obtains comparable
employment, whichever is shorter. 
 f. Outplacement Assistance. Company shall reimburse Executive for the cost of
outplacement services reasonably incurred by Executive during the twelve (12) month period immediately following the Separation Date or until Executive obtains comparable employment, whichever is shorter, in an amount not to exceed $20,000. The
outplacement services provider shall be mutually agreed between Executive and the Company. 
  

	3.	Other Benefit and Compensation Plans 

 This Agreement does not affect any previously vested rights to funds or benefits under the Company’s welfare or benefit plans. All benefits and distributions under those plans will be remitted in
accordance with the terms and conditions of such plans. 
  

	4.	General Release 

 a. In
consideration of the Severance Payments that Executive is to receive pursuant to Section IV.C of the Employment Agreement, Executive agrees to release and forever discharge the Company and all of its present and former officers, directors, partners,
employees, agents, insurers, affiliates, parents, subsidiaries, and representatives (the “Released Parties”), from any and all claims (including, but not limited 

  
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to, costs and attorneys’ fees), demands, rights and causes of action of whatever kind or nature, joint or several, under any federal, state or local statute, ordinance or under the common
law, including, but not limited to, (i) claims arising under the Age Discrimination in Employment Act, the Older Workers’ Benefit Protection Act, the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Americans with Disabilities
Act, the Executive Retirement Income Security Act (except for any cause of action under ERISA relating to an employee benefit plan that is qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended, or that is a
medical or health care plan), the Family and Medical Leave Act, the Equal Pay Act, the Fair Labor Standards Act and all local ordinances; (ii) those arising under common law, including but not limited to claims or suits for invasion of privacy,
intentional and negligent infliction of emotional distress, defamation, libel, slander, intentional interference with contractual relations, breach of the implied covenant of good faith and fair dealing, breach of contract, wrongful termination and
negligence; and (iii) any other action, complaint, charge or grievance against the Company, including claims for breach of any contract with the Company, which Executive now has against the Company or ever had from the beginning of the world up
to the Separation Date, whether known or unknown, which are based on acts or facts arising or occurring prior to the execution of this Agreement. It is expressly agreed that the claims released pursuant to this Agreement include all waivable claims
against individual employees of the Company whether or not acting within the scope of their duties, individually or in any other capacity. Executive acknowledges that, if a court declares any portion of this paragraph to be invalid or unenforceable,
the balance of terms of this paragraph shall remain in full force and effect. Any such invalid portion shall be deemed severable. 
 b. Executive acknowledges that he has had a full and fair opportunity to review this Agreement, including the general release set forth in paragraph 4.a above, and has been allowed twenty-one
(21) days to consider this Agreement before signing it. Executive certifies that he/she has carefully read and understands all of the provisions of this agreement and knowingly and voluntarily agreeing to be bound by its terms. Executive
understands that rights or claims under the Age Discrimination in Employment Act of 1967 (29 U.S.C. § 621, et seq.) that may arise after the date this Agreement is signed are not waived. Executive may revoke this Agreement within
seven (7) calendar days after signing it by delivering a written statement to the Company by hand delivery, facsimile transmission or by registered mail, and this Agreement will not be effective or enforceable until expiration of that seven-day
revocation period. The revocation notice must be directed to the Company as follows: 
 Heather Sahrbeck 

Senior Vice President & General Counsel 
 Integrated Electrical Service, Inc. 
 One Sound Shore Drive 

Suite 304 

Greenwich, CT 06830 
  

	5.	Continuing Obligations 

Executive understands and acknowledges that under the terms of his Employment Agreement, he is bound by certain continuing obligations to
the Company, including but not limited to, matters addressed in Sections V (Non-Competition; Non-Solicitation) and VI (Confidentiality; Intellectual Property). 
  

	6.	Transition; Cooperation 

From time to time after the Separation Date the Company may require Executive’s assistance and reasonable cooperation in connection
with certain legal proceedings and other matters that relate to events occurring during Executive’s employment with the Company, such assistance and reasonable cooperation Executive agrees to provide. 

  
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	7.	Miscellaneous 

 a.
Executive agrees that on or before the Separation Date, he will return to the Company all property belonging to the Company, including but not limited to keys, credit cards, telephone calling card, files, records, computer access codes, computer
hardware, computer programs, instruction manuals, business plans, and all other property and documents which Executive prepared or received in connection with his employment with the Company, except those records and documents the Company has
authorized him in writing to retain. 
 b. Executive acknowledges and agrees (i) he is responsible for any tax liability
that may result as a consequence of the receipt of the severance benefits described herein, (ii) the Company makes no representation regarding the taxability of the severance benefits and (iii) the Company has encouraged him to seek advice
from a personal tax advisor regarding the duty and manner to report any possible tax consequences. The money paid under this Agreement does not come from a qualified retirement plan and therefore it may not be rolled into any other qualified plan or
Individual Retirement Account. 
 c. This Agreement shall be binding upon Executive and the Company and upon their heirs,
administrators, representatives, executors, and assigns. Executive expressly warrants that he/she has not transferred to any person or entity any rights, causes of action or claims released in this Agreement. 

d. This Agreement sets forth the entire agreement between the parties and, with the exception of the Employment Agreement, fully
supersedes all prior written and oral agreements, understandings and representations between the parties with respect to the subject matter hereof. 
 e. Capitalized terms used but not defined in this Agreement shall have the meaning ascribed to them in the Employment Agreement. 
 f. This Agreement shall be governed and construed under the laws of the state of Texas. Any legal proceeding arising as a result of or relating to this Agreement, the Employment Agreement,
Executive’s employment or separation shall be filed and heard in the city of Houston, Harris County, Texas without regard to conflicts of law. 
  

					
	Executive	 	Integrated Electrical Services, Inc.
			
	/s/ William L. Fiedler	 	By:	 	/s/ James M. Lindstrom
	William L. Fiedler	 		 	James M. Lindstrom
			
	Date: 9/4/12	 	Title:	 	President and Chief Executive Officer
			
		 	Date:	 	8/31/12

  
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