Document:

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                                                                    EXHIBIT 10.1

                              EMPLOYMENT AGREEMENT
                                  [PAUL MEYER]

         This Employment Agreement is entered into and effective as of the
Company's signature below (the "Effective Date") between Clear Channel Outdoor
Holdings, Inc., a Delaware corporation (the "Company") and Paul Meyer (the
"Employee").

         WHEREAS, the Company and the Employee desire to enter into an
employment relationship under the terms and conditions set forth in this
Agreement;

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
herein contained and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree as follows:

1.     TERM OF EMPLOYMENT.

         The Employee's current Term of employment starts on the Effective Date
and ends no earlier than the third anniversary of the Effective Date, unless
neither party has given the one year notice described in Section 7(c) or 7(d),
below. If such one year notice has not been given, the Term shall automatically
extend, beginning on the second anniversary of the Effective Date, one day at a
time, until such notice has been given.

2.     TITLE AND DUTIES.

         The Employee's title is President and Chief Operating Officer, Clear
Channel Outdoor. The Company may later choose to elevate this title and
responsibilities to Chief Executive Officer, at its sole discretion. Employee
understands and agrees that he will not receive any additional compensation in
the event of such change in title and responsibilities. The Employee will
perform job duties that are usual and customary for this position, and will
perform additional services and duties that the Company may from time to time
designate that are consistent with the usual and customary duties of this
position or of a Chief Executive Officer. The Employee will report to the
President and Chief Executive Officer, Clear Channel Communications, Inc.,
currently Mark Mays. The Employee will devote his full working time and efforts
to the business and affairs of Clear Channel Outdoor in its newly combined
domestic and international organizational form.

3.     COMPENSATION AND BENEFITS

         (a) BASE SALARY. The Company will pay the Employee an annual base
salary of $600,000 for the first year after the Effective Date; $625,000 for the
second year after the Effective Date; and $650,000 for the third year after the
Effective Date. The Employee will be eligible for additional annual raises
commensurate with Company policy. All payments of base salary will be made in
installments according to the Company's regular payroll practice, prorated
monthly or weekly where appropriate, and subject to any increases that are
determined to be appropriate by the Board of Directors of the Company ("Board")
and its Compensation Committee.

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         (b) PERFORMANCE BONUS. No later than March 31 of each calendar year
during the term, Employee will be eligible to receive a performance bonus as set
forth in the Performance Bonus Calculation attached as "Exhibit A" to this
Employment Agreement.

         (c) EMPLOYMENT BENEFIT PLANS. The Employee will be entitled to
participate in: all pension, profit sharing, and other retirement plans; all
incentive compensation plans; and all group health, hospitalization and
disability or other insurance plans; paid vacation, sick leave and other
employee welfare benefit plans in which other similarly situated employees of
the Company may participate as stated in the employee guide.

         (d) EXPENSES. The Company will pay or reimburse the Employee for all
normal and reasonable travel and entertainment expenses incurred by the Employee
in connection with the Employee's responsibilities to the Company upon
submission of proper vouchers in accordance with the Company's expense
reimbursement policy.

         (e) STOCK OPTIONS. Any future stock option grants will be granted based
upon the performance of the Employee, which will be assessed in the sole
discretion of the Company and the Compensation Committee of the Board. All
option grants shall be made under the terms and conditions set forth in the
applicable Clear Channel Communications Stock Option Plan under which they are
issued. The Company reserves the right to modify any future Company incentive
compensation or stock option plan with respect to the change of control, the
granting of restricted stock or any other provision of such plans. The Company's
obligations under this agreement to the Employee in the area of stock options
are conditioned upon and subject to the Company's future decision, in its sole
discretion, to: 1) alter, suspend or discontinue its stock option grant program;
or 2) replace the program with an alternative form or method of compensation.

4.     NONDISCLOSURE OF CONFIDENTIAL INFORMATION.

         During the course of the Employee's employment with the Company, the
Company will provide the Employee with access to certain confidential
information, trade secrets, and other matters which are of a confidential or
proprietary nature, including but not limited to the Company's customer lists,
pricing information, production and cost data, compensation and fee information,
strategic business plans, budgets, financial statements, and other information
the Company treats as confidential or proprietary (collectively the
"Confidential Information"). The Company provides on an ongoing basis such
Confidential Information as the Company deems necessary or desirable to aid the
Employee in the performance of his duties. The Employee understands and
acknowledges that such Confidential Information is confidential and proprietary,
and agrees not to disclose such Confidential Information to anyone outside the
Company except to the extent that (i) the Employee deems such disclosure or use
reasonably necessary or appropriate in connection with performing his duties on
behalf of the Company; (ii) the Employee is required by order of a court of
competent jurisdiction (by subpoena or similar process) to disclose or discuss
any Confidential Information, provided that in such case, the Employee shall
promptly inform the Company of such event, shall cooperate with the Company in
attempting to obtain a protective order or to otherwise restrict such
disclosure, and shall only disclose Confidential Information to the minimum
extent necessary to comply with any such court order; or (iii) such Confidential
Information becomes generally known to and available for use in the industries
in which the Company does business, other than as a result of any action or
inaction by the Employee. The Employee further agrees that he will not during
employment and/or at any time thereafter use such Confidential Information in
competing, directly or

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indirectly, with the Company. At such time as the Employee shall cease to be
employed by the Company, he will immediately turn over to the Company all
Confidential Information, including papers, documents, writings, electronically
stored information, other property, and all copies of them, provided to or
created by him during the course of his employment with the Company. This
nondisclosure covenant is binding on the Employee, as well as his heirs,
successors, and legal representatives, and will survive the termination of this
Agreement for any reason.

5.     NONHIRE OF COMPANY EMPLOYEES.

         To further preserve the rights of the Company pursuant to the
nondisclosure covenant discussed above, and for the consideration promised by
the Company under this Agreement, during the term of the Employee's employment
with the Company and for a period of twelve months thereafter, regardless of the
reason for termination of employment, the Employee will not, directly or
indirectly, (i) hire any current or prospective employee of the Company, or any
subsidiary or affiliate of the Company (including, without limitation, any
current or prospective employee of the Company within the 6-month period
preceding the Employee's last day of employment with the Company or within the
12-month period of this covenant) who worked, works, or has been offered
employment by the Company; (ii) solicit or encourage any such employee to
terminate their employment with the Company, or any subsidiary or affiliate of
the Company; or (iii) solicit or encourage any such employee to accept
employment with any business, operation, corporation, partnership, association,
agency, or other person or entity with which the Employee may be associated. If,
during the term of this non-hire covenant, the Employee learns that any such
employee has accepted employment with any business, operation, corporation,
partnership, association, agency, or other person or entity with which the
Employee may be associated (other than the Company), the Employee will
immediately send notice to the Company identifying the employee and certifying
that the Employee did not breach any provision of this non-hire covenant.

6.     NON-COMPETITION.

         To further preserve the rights of the Company pursuant to the
nondisclosure covenant discussed above, and for the consideration promised by
the Company under this Agreement, during the Employee's employment with the
Company and for a period of one year thereafter, regardless of the reason for
termination of employment, the Employee will not, directly or indirectly, as an
owner, director, principal, agent, officer, employee, partner, consultant,
servant, or otherwise, carry on, operate, manage, control, or become involved in
any manner with any business, operation, corporation, partnership, association,
agency, or other person or entity which is in the same business as the Company
in any location in which the Company, or any subsidiary or affiliate of the
Company, operates or has plans or has projected to operate during the Employee's
employment with the Company, including any area within a 50-mile radius of any
such location. The foregoing shall not prohibit the Employee from owning up to
5.0% of the outstanding stock of any publicly held company. Notwithstanding the
foregoing, after the Employee's employment with the Company has terminated, upon
receiving written permission by the Board, the Employee shall be permitted to
engage in such competing activities that would otherwise be prohibited by this
covenant if such activities are determined in the sole discretion of the Board
in good faith to be immaterial to the operations of the Company, or any
subsidiary or affiliate of the Company, in the location in question.

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         To further preserve the rights of the Company pursuant to the
nondisclosure covenant discussed above, and for the consideration promised by
the Company under this Agreement, during the term of the Employee's employment
with the Company and for a period of one year thereafter, regardless of the
reason for termination of employment, the Employee will not, directly or
indirectly, either for himself or for any other business, operation,
corporation, partnership, association, agency, or other person or entity, call
upon, compete for, solicit, divert, or take away, or attempt to divert or take
away current or prospective customers (including, without limitation, any
customer with whom the Company, or any subsidiary or affiliate of the Company,
(i) has an existing agreement or business relationship; (ii) has had an
agreement or business relationship within the six-month period preceding the
Employee's last day of employment with the Company; or (iii) has included as a
prospect in its applicable pipeline) of the Company, or any subsidiary or
affiliate of the Company.

         The Company and the Employee agree that the restrictions contained in
this noncompetition covenant are reasonable in scope and duration and are
necessary to protect the Company's business interests and Confidential
Information. If any provision of this noncompetition covenant as applied to any
party or to any circumstance is adjudged by a court or arbitrator to be invalid
or unenforceable, the same will in no way affect any other circumstance or the
validity or enforceability of this Agreement. If any such provision, or any part
thereof, is held to be unenforceable because of the scope, duration, or
geographic area covered thereby, the parties agree that the court or arbitrator
making such determination shall have the power to reduce the scope and/or
duration and/or geographic area of such provision, and/or to delete specific
words or phrases, and in its reduced form, such provision shall then be
enforceable and shall be enforced. The parties agree and acknowledge that the
breach of this noncompetition covenant will cause irreparable damage to the
Company, and upon breach of any provision of this noncompetition covenant, the
Company shall be entitled to injunctive relief, specific performance, or other
equitable relief; provided, however, that this shall in no way limit any other
remedies which the Company may have (including, without limitation, the right to
seek monetary damages).

Should the Employee violate the provisions of this noncompetition covenant, then
in addition to all other rights and remedies available to the Company at law or
in equity, the duration of this covenant shall automatically be extended for the
period of time from which the Employee began such violation until he permanently
ceases such violation

7.     TERMINATION.

         The Employee's employment with the Company may be terminated under the
following circumstances:

         (a) DEATH. The Employee's employment with the Company shall terminate
upon his death.

         (b) DISABILITY. The Company may terminate the Employee's employment
with the Company if, as a result of the Employee's incapacity due to physical or
mental illness, the Employee is unable to perform his duties under this
Agreement on a full-time basis for more than 90 days in any 12 month period, as
determined by the Company.

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         (c) TERMINATION BY THE COMPANY. The Company may terminate the
Employee's employment with the Company for any reason at any time after the
second anniversary of the Effective Date upon one year's written notice, and, in
no case to be effective earlier than the third anniversary of the Effective
Date. The Company may also terminate the Employee's employment for Cause. A
termination for Cause must be for one or more of the following reasons: (i)
conduct by the Employee constituting a material act of willful misconduct in
connection with the performance of his duties, including, without limitation,
violation of the Company's policy on sexual harassment, misappropriation of
funds or property of the Company or any of its affiliates other than the
occasional, customary and de minimis use of Company property for personal
purposes, or other willful misconduct as determined in the sole discretion of
the Company; (ii) continued, willful and deliberate non-performance by the
Employee of his duties hereunder (other than by reason of the Employee's
physical or mental illness, incapacity or disability) where such non-performance
has continued for more than 10 days following written notice of such
non-performance; (iii) the Employee's refusal or failure to follow lawful
directives where such refusal or failure has continued for more than 30 days
following written notice of such refusal or failure; (iv) a criminal or civil
conviction of the Employee, a plea of nolo contendere by the Employee, or other
conduct by the Employee that, as determined in the sole discretion of the Board,
has resulted in, or would result in if he were retained in his position with the
Company, material injury to the reputation of the Company, including, without
limitation, conviction of fraud, theft, embezzlement, or a crime involving moral
turpitude; (v) a breach by the Employee of any of the provisions of this
Agreement; or (vi) a violation by the Employee of the Company's employment
policies.

         (d) TERMINATION BY THE EMPLOYEE. The Employee may terminate his
employment with the Company at any time after the second anniversary of the
Effective Date with a one year written notice to Company, and, in no case to be
effective earlier than the third anniversary of the Effective Date.

8.     COMPENSATION UPON TERMINATION.

         (a) DEATH. If the Employee's employment with the Company terminates by
reason of his death, the Company will, within 90 days, pay in a lump sum amount
to such person as the Employee shall designate in a notice filed with the
Company or, if no such person is designated, to the Employee's estate, the
Employee's accrued and unpaid base salary and prorated bonus, if any (See
Exhibit A), and any payments to which the Employee's spouse, beneficiaries, or
estate may be entitled under any applicable employee benefit plan (according to
the terms of such plans and policies).

         (b) DISABILITY. If the Employee's employment with the Company
terminates by reason of his disability, the Company shall, within 90 days, pay
in a lump sum amount to the Employee his accrued and unpaid base salary and
prorated bonus, if any (See Exhibit A), and any payments to which he may be
entitled under any applicable employee benefit plan (according to the terms of
such plans and policies).

         (c) TERMINATION BY THE COMPANY FOR CAUSE. If the Employee's employment
with the Company is terminated by the Company for Cause the Company will, within
90 days, pay in a lump sum amount to the Employee his accrued and unpaid base
salary and any payments to which he may be entitled under any applicable
employee benefit plan (according to the terms of such plans and policies).

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         (d) TERMINATION BY THE COMPANY WITHOUT CAUSE. If the Employee's
employment with the Company is terminated by the Company without Cause, the
Company will, within 90 days after the effective date of the termination, pay in
a lump sum amount to the Employee his accrued and unpaid base salary and
prorated bonus, if any (See Exhibit A), and any payments to which he may be
entitled under any applicable employee benefit plan (according to the terms of
such plans and policies). Additionally, Employee will receive a total of
$600,000, paid pro rata over a one year period in accordance with the Company's
standard payroll schedule and practices, as consideration for Employee's
post-termination non-compete and non-solicitation obligations under Paragraphs
Five and Six, above.

         (e) EFFECT OF COMPLIANCE WITH COMPENSATION UPON TERMINATION PROVISIONS.
Upon complying with Subparagraphs 8(a) through 8(d) above, as applicable, the
Company will have no further obligations to the Employee except as otherwise
expressly provided under this Agreement, provided that such compliance will not
adversely affect or alter the Employee's rights under any employee benefit plan
of the Company in which the Employee has a vested interest, unless, otherwise
provided in such employee benefit plan or any agreement or other instrument
attendant thereto.

9.     PARTIES BENEFITED; ASSIGNMENTS.

         This Agreement shall be binding upon the Employee, his heirs and his
personal representative or representatives, and upon the Company and its
respective successors and assigns. Neither this Agreement nor any rights or
obligations hereunder may be assigned by the Employee, other than by will or by
the laws of descent and distribution.

10.    NOTICES.

Any notice provided for in this Agreement will be in writing and will be deemed
to have been given when delivered or mailed by United States registered or
certified mail, return receipt requested, postage prepaid. If to the Board or
the Company, the notice will be sent to Mark P. Mays, President and Chief
Executive Officer, Clear Channel Communications, Inc., 200 E. Basse Road, San
Antonio, TX 78209 and a copy of the notice will be sent to Andrew W. Levin, EVP
and CLO, Clear Channel Communications, Inc., 200 E. Basse Road, San Antonio, TX
78209 . If to the Employee, the notice will be sent to 5109 N. 34th Place,
Phoenix, AZ 85018. Such notices may alternatively be sent to such other address
as any party may have furnished to the other in writing in accordance with this
Agreement, except that notices of change of address shall be effective only upon
receipt.

11.    GOVERNING LAW.

         This Agreement shall be governed by and construed in accordance with
the internal laws of the State of Texas without giving effect to any choice of
law or conflict provisions or rule (whether of the State of Texas or any other
jurisdiction) that would cause the application of the laws of any jurisdiction
other than the State of Texas and the Employee hereby expressly consents to the
personal jurisdiction of the state and federal courts located in the State of
Texas for any lawsuit arising from or relating to this Agreement.

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12.    DEFINITION OF COMPANY.

         As used in this Agreement, the term "Company" shall include any of its
past, present and future divisions, operating companies, subsidiaries and
affiliates.

13.    LITIGATION AND REGULATORY COOPERATION.

         During and after the Employee's employment, the Employee shall
reasonably cooperate with the Company in the defense or prosecution of any
claims or actions now in existence or which may be brought in the future against
or on behalf of the Company which relate to events or occurrences that
transpired while the Employee was employed by the Company; provided, however,
that such cooperation shall not materially and adversely affect the Employee or
expose the Employee to an increased probability of civil or criminal litigation.
The Employee's cooperation in connection with such claims or actions shall
include, but not be limited to, being available to meet with counsel to prepare
for discovery or trial and to act as a witness on behalf of the Company at
mutually convenient times. During and after the Employee's employment, the
Employee also shall cooperate fully with the Company in connection with any
investigation or review of any federal, state or local regulatory authority as
any such investigation or review relates to events or occurrences that
transpired while the Employee was employed by the Company. The Company will pay
the Employee on an hourly basis (to be derived from his base salary) for
requested litigation and regulatory cooperation that occurs after his
termination of employment, and reimburse the Employee for all costs and expenses
incurred in connection with his performance under this paragraph, including, but
not limited to, reasonable attorneys' fees and costs.

14.    INDEMNIFICATION AND INSURANCE; LEGAL EXPENSES.

         The Company shall indemnify the Employee to the fullest extent
permitted by law, in effect at the time of the subject act or omission, and
shall advance to the Employee reasonable attorneys' fees and expenses as such
fees and expenses are incurred (subject to an undertaking from the Employee to
repay such advances if it shall be finally determined by a judicial decision
which is not subject to further appeal that the Employee was not entitled to the
reimbursement of such fees and expenses), and the Employee will be entitled to
the protection of any insurance policies that the Company may elect to maintain
generally for the benefit of its directors and officers against all costs,
charges and expenses incurred or sustained by him in connection with any action,
suit or proceeding to which he may be made a party by reason of his being or
having been a director, officer or employee of the Company or any of its
subsidiaries, or his serving or having served any other enterprise as a
director, officer or employee at the request of the Company (other than any
dispute, claim or controversy arising under or relating to this Agreement). The
Company covenants to maintain during the Employee's employment for the benefit
of the Employee (in his capacity as an officer and director of the Company)
Directors and Officers Insurance providing benefits to the Employee no less
favorable, taken as a whole, than the benefits provided to the other similarly
situated employees of the Company by the Directors and Officers Insurance
maintained by the Company on the date hereof; provided, however, that the Board
may elect to terminate Directors and Officers Insurance for all officers and
directors, including the Employee, if the Board determines in good faith that
such insurance is not available or is available only at unreasonable expense.

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15.    ARBITRATION.

The parties agree that any dispute, controversy or claim, whether based on
contract, tort, statute, discrimination, retaliation, or otherwise, relating to,
arising from or connected in any manner to this Agreement, or to the alleged
breach of this Agreement, or arising out of or relating to Employee's employment
or termination of employment, shall, upon timely written request of either party
be submitted to and resolved by binding arbitration. The arbitration shall be
conducted in San Antonio, Texas. The arbitration shall proceed in accordance
with the National Rules for Resolution of Employment Disputes of the American
Arbitration Association ("AAA") in effect at the time the claim or dispute
arose, unless other rules are agreed upon by the parties. Unless otherwise
agreed to by the parties in writing, the arbitration shall be conducted by one
arbitrator who is a member of the AAA and who is selected pursuant to the
methods set out in the National Rules for Resolution of Employment Disputes of
the AAA. Any claims received after the applicable/relevant statute of
limitations period has passed shall be deemed null and void. The award of the
arbitrator shall be a reasoned award with findings of fact and conclusions of
law. Either party may bring an action in any court of competent jurisdiction to
compel arbitration under this Agreement, to enforce an arbitration award, and to
vacate an arbitration award. However, in actions seeking to vacate an award, the
standard of review to be applied by said court to the arbitrator's findings of
fact and conclusions of law will be the same as that applied by an appellate
court reviewing a decision of a trial court sitting without a jury. The Company
will pay the actual costs of arbitration excluding attorney's fees. Each party
will pay its own attorneys fees and other costs incurred by their respective
attorneys.

16.    REPRESENTATIONS AND WARRANTIES OF THE EMPLOYEE.

         The Employee represents and warrants to the Company that he is under no
contractual or other restriction which is inconsistent with the execution of
this Agreement, the performance of his duties hereunder or the other rights of
Company hereunder. The Employee also represents and warrants to the Company that
he is under no physical or mental disability that would hinder the performance
of his duties under this Agreement.

17.    MISCELLANEOUS.

         This Agreement contains the entire agreement of the parties relating to
the subject matter hereof. This Agreement supersedes any prior written or oral
agreements or understandings between the parties relating to the subject matter
hereof. No modification or amendment of this Agreement shall be valid unless in
writing and signed by or on behalf of the parties hereto. The failure of a party
to require performance of any provision of this Agreement shall in no manner
affect the right of such party at a later time to enforce any provision of this
Agreement. A waiver of the breach of any term or condition of this Agreement
shall not be deemed to constitute a waiver of any subsequent breach of the same
or any other term or condition. This Agreement is intended to be performed in
accordance with, and only to the extent permitted by, all applicable laws,
ordinances, rules and regulations. If any provision of this Agreement, or the
application thereof to any person or circumstance, shall, for any reason and to
any extent, be held invalid or unenforceable, such invalidity and
unenforceability shall not affect the remaining provisions hereof or the
application of such provisions to other persons or circumstances, all of which
shall be enforced to the greatest extent permitted by law. The headings in this
Agreement are inserted

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for convenience of reference only and shall not be a part of or control or
affect the meaning of any provision hereof.

         IN WITNESS WHEREOF, the parties have duly executed and delivered this
Agreement as of the date last executed below.

DATE:  August 5, 2005                       PAUL MEYER

                                                    /s/ Paul Meyer
                                            -------------------------------

                                            CLEAR CHANNEL OUTDOOR HOLDINGS, INC.

DATE:  August 5, 2005                       By:   /s/ Mark P. Mays
                                                  ------------------------------
                                            Name:  Mark P. Mays
                                            Title: Chief Executive Officer

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                                    EXHIBIT A

                          PERFORMANCE BONUS CALCUATION

To be determined at the sole discretion of the Board and the Compensation
Committee.

                                       10exv10w1

 

Exhibit 10.1

ASSET PURCHASE AGREEMENT

     This ASSET PURCHASE AGREEMENT (this “Agreement”) is made and entered into as of July 29, 2005
by and among INTEGRATED ELECTRICAL SERVICES, INC., a Delaware corporation (the “Parent”), BRINK
ELECTRIC CONSTRUCTION CO., a South Dakota corporation (the “Company”), BRINK CONSTRUCTORS, INC., a
South Dakota corporation (the “Buyer”), and DOUGLAS F. BRINK, an individual and resident of the
State of South Dakota (“Guarantor”).

WITNESSETH:

     WHEREAS, the Parent owns, either directly or indirectly, all of the issued and outstanding
capital stock of the Company, which is engaged in the electrical construction and services business
(the “Business”);

     WHEREAS, the Parent and the Company desire to sell to the Buyer substantially all of the
Company’s assets, which are more fully described in Section 1.1 hereof, and the Buyer
desires to acquire such assets in consideration of the payment by the Buyer of the purchase price
and the assumption by the Buyer of the liabilities provided for herein, all upon the terms and
subject to the conditions hereinafter set forth;

     WHEREAS, Guarantor is the President and owner of the Buyer and has agreed to personally
guarantee to the Parent and the Company the Buyer’s performance of all representations, warranties,
covenants, agreements and conditions set forth herein;

     NOW, THEREFORE, for and in consideration of the premises and of the respective
representations, warranties, covenants, agreements and conditions of the parties contained herein,
it is hereby agreed as follows:

1. PURCHASE AND SALE OF ASSETS.

     1.1 Transfer of Assets. On the terms and subject to the conditions set forth in this
Agreement, on the Closing Date (as defined in Section 2.1 hereof), the Company shall sell,
convey, assign, transfer and deliver to the Buyer, and the Buyer shall purchase and acquire from
the Company (except as provided in Section 1.2 hereof) all of the assets, rights and properties of
the Parent or the Company set forth on Schedule 1.1. The assets described in this
Section 1.1 as being sold, conveyed, assigned, transferred and delivered to the Buyer
hereunder are sometimes hereinafter referred to collectively as the “Assets".

     1.2 Excluded Assets. It is expressly understood and agreed that the Assets shall not
include the following (such assets are hereinafter referred to collectively as the “Excluded
Assets"):

          (a) Cash and cash equivalents or similar type investments, such as certificates of
deposit, Treasury bills and other marketable securities;

          (b) Claims for refunds of taxes and other governmental charges to the extent such
refunds relate to periods ending on or prior to the Closing Date;

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          (c) Any asset, tangible or intangible, which is not freely transferable without the
consent of a third party, upon the failure to obtain such consent;

          (d) The original corporate minute books, stock books, financial records, tax returns,
personnel and payroll records and corporate policies and procedures manuals of the Company
and other records required by applicable laws to be retained;

          (e) Any contract or agreement, whether written or oral, between the Company and IES
Contractors, Inc.;

          (f) Any amounts owed to the Company by Parent, Integrated Electrical Finance, Inc., IES
Management LP, IES Management ROO LP, IES Properties, Inc., or IES Reinsurance, Ltd.; and

          (g) Any asset not set forth on Schedule 1.1.

     1.3 Instruments of Conveyance and Transfer.

          (a) At the Closing, the Buyer, the Company and the Parent shall enter into a Bill of
Sale, Assignment and Assumption Agreement in the form attached hereto as Exhibit A,
transferring to the Buyer good and indefeasible title to all of the tangible personal
property included in the Assets, subject only to Permitted Encumbrances.

          (b) At the Closing, the Buyer, Company and the Parent shall deliver such other
instruments of transfer and assignment in respect of the Assets as the Buyer or Parent shall
reasonably require and as shall be consistent with the terms and provisions of this
Agreement.

          (c) At the Closing, the Guarantor shall, and shall cause the Transferred Employees (as
hereinafter defined) to, resign as officers and directors of the Company and any other
affiliates of the Parent.

     1.4 Further Assurances. From time to time after the Closing, the Parent and the
Company will execute and deliver, or cause to be executed and delivered, without further
consideration, such other instruments of conveyance, assignment, transfer and delivery and will
take such other actions as the Buyer may reasonably request in order to more effectively transfer,
convey, assign and deliver to the Buyer, and to place the Buyer in possession and control of any of
the Assets or to enable the Buyer to exercise and enjoy all rights and benefits of the Company with
respect thereto.

     1.5 Liabilities. On the Closing Date, the Buyer will assume and agree to pay and
discharge all liabilities of the Company, known or unknown, absolute or contingent (the “Assumed
Liabilities”) other than the liabilities set forth on Schedule 1.5 (the “Retained
Liabilities”), which shall be retained by the Parent or the Company, respectively.

     1.6 Expenses: Consents and Taxes. The Buyer shall pay, or cause to be paid (i) all
costs and expenses of obtaining all consents of third parties for the assignment of any of the
Assets,

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and (ii) all transfer, stamp, sales, use or other similar taxes or duties payable in
connection with the sale and transfer of the Assets to the Buyer.

2. CLOSING; PURCHASE PRICE.

     2.1 Closing Date. The consummation of the transactions contemplated in this Agreement
(the “Closing”) shall take place at the offices of Cochran & Baker LLP, 520 Post Oak Blvd., Suite
820, Houston, Texas at 10:00 a.m., Central time, July 29, 2005 (the “Closing Date”)
contemporaneously with the execution of this Agreement or at such other place and time as the
parties hereto may mutually agree. As between the parties, the Closing shall be effective at the
close of business Sunday, July 31, 2005.

     2.2 Purchase Price. The aggregate purchase price for the Assets shall be
$4,700,000.00 (the “Purchase Price”), subject to adjustment pursuant to Section 2.3 below,
plus the Buyer’s assumption of the Assumed Liabilities pursuant to Section 1.5 above. The
Purchase Price shall be payable by the Buyer at the Closing to the Company in immediately available
funds by confirmed wire transfer to a bank account to be designated by the Company.

     2.3 Cash Reconciliation. Within 60 days following the Closing Date, the Company shall
prepare and deliver to the Buyer a schedule setting forth, for the period commencing on July 1,
2005, and ending as of the Closing, (a) the cash disbursements funded by the Company, the Parent or
any of their affiliates for the benefit of the Company, to include those made in the ordinary
course to trade vendors and those made in the ordinary course for Company employee benefit plans
(the “Disbursements”), and (b) the cash deposits made by the Company (the “Deposits”). Within
three business days following the Buyer’s receipt of such schedule, (i) the Buyer shall remit to
the Company in immediately available funds, the amount by which the Disbursements exceed the
Deposits, if any; or (ii) the Company shall remit to the Buyer, in like manner and within such
period, the amount by which Deposits exceed the Disbursements, if any. Disbursements shall include,
but not be limited to, actual cash amounts paid by the Company or the Parent on behalf of the
Company with respect to pre-Closing periods, including (i) amounts paid after June 30, 2005 for
checks issued by the Company or Parent on behalf of the Company on or before June 30, 2005 that had
not cleared the banks on June 30, 2005, which amounts were reflected on the June 30, 2005 balance
sheet as negative cash amounts, (ii) checks issued by the Company or Parent on behalf of the
Company subsequent to June 30, 2005, but before the Closing that have not cleared the banks as of
the Closing, (iii) workers compensation, general liability, auto insurance, health and similar
insurance premiums paid by the Parent on behalf of the Company with respect to periods prior to the
Closing, whether accrued prior to or after the Closing, and (iv) other amounts paid by the Company
or by the Parent on behalf of the Company with respect to periods prior to the Closing, but for
which invoices are received or accruals are made after the Closing Date. Deposits shall include,
but not be limited to, actual cash amounts received by the Company or the Parent on behalf of the
Company subsequent to June 30, 2005, but before the Closing that have not been reflected in the
Company’s accounts as of the Closing. Disbursements and Deposits will be accounted for in
accordance with Parent’s accounting practices consistent with past periods.

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3. REPRESENTATIONS AND WARRANTIES.

     3.1 Representations and Warranties of the Company and the Parent. The Company and the
Parent represent and warrant to the Buyer as follows:

          (a) Organization, Authority and Qualification of the Company. The Company is a
corporation duly organized and validly existing under the laws of the State of South Dakota
and the Company has full corporate power and authority to own or lease its properties and to
carry on its business in such state. The Company has the full corporate power and authority
to execute, deliver and perform this Agreement, and this Agreement has been duly and validly
executed and delivered by the Company and constitutes the valid and legally binding
obligation of the Company, subject to general equity principles, enforceable in accordance
with its terms, except as the same may be limited by bankruptcy, insolvency, reorganization
or similar laws affecting the rights of creditors generally.

          (b) No Violation. The Company is not in default under or in violation of its Articles
of Incorporation or Bylaws.

          (c) Title to Properties; Absence of Liens and Encumbrances. The Company owns good and
indefeasible title to the Assets, free and clear of all claims, liens, security interests,
charges, leases, encumbrances, licenses or sublicenses and other restrictions of any kind
and nature, other than the claims, liens, security interests, charges, leases, encumbrances,
licenses or sublicenses either included among the Assumed Liabilities or specifically set
forth on Schedule 3.1(c) hereto (“Permitted Encumbrances”).

     3.2 Representations and Warranties of the Buyer. The Buyer and Guarantor, jointly and
severally, represent and warrant to the Parent and the Company as follows:

          (a) Organization, Authority and Qualification of the Buyer. The Buyer is a corporation
duly organized and validly existing under the laws of the State of South Dakota and the
Buyer has full corporate power and authority to own or lease its properties and to carry on
its business in such state. The Buyer has the full corporate power and authority to
execute, deliver and perform this Agreement, and this Agreement has been duly and validly
executed and delivered by the Buyer and constitutes the valid and legally binding obligation
of the Buyer, subject to general equity principles, enforceable in accordance with its
terms, except as the same may be limited by bankruptcy, insolvency, reorganization or
similar laws affecting the rights of creditors generally.

          (b) No Violation. The Buyer is not in default under or in violation of its Articles of
Incorporation or Bylaws.

          (c) Certain Fees. The Buyer has not employed any broker or finder or incurred any
other liability for any brokerage fees, commissions or finders’ fees in connection with the
transactions contemplated hereby.

          (d) Financial Information. The financial and management reports (including, without
limitation, WIP schedules) heretofore delivered or made by Buyer, Guarantor or the Company
to the Parent are true and correct in all material respects and do not omit to state

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any fact necessary to make any of them, in light of the circumstances in which made,
not misleading. All executed change orders have been recorded, all agreed change orders
have been executed or are listed on Schedule 3.2(d), and all checks and cash
received by the Company and its affiliates have been deposited.

     3.3 No Warranty. The Buyer and the Guarantor acknowledge that the Guarantor, through
previous ownership and/or management of the Company, is familiar with the Assets and the operations
of the Company, and has access to any information pertaining thereto and has made such information
available to Buyer. Neither the Company nor the Parent, nor any of their respective directors,
officers, employees, agents or representatives has made, or shall be deemed to have made, and no
such person shall be liable for, or bound in any manner by, and Buyer and the Guarantor have not
relied upon and will not rely upon, any express or implied representations, warranties, guaranties,
promises or statements pertaining to the Business or Assets except as specifically provided in this
Section 3. The Buyer and the Guarantor acknowledge that in making the decision to enter
into this Agreement and to consummate the transactions contemplated hereby, they have relied solely
on the basis of their own independent investigation of the Business and the Assets and upon the
express written representations, warranties and covenants in this Agreement. Without diminishing
the scope of the express written representations, warranties and covenants of the Company and the
Parent in this Agreement and without affecting or impairing their right to rely thereon, the Buyer
and the Guarantor acknowledge that (a) they have not relied, in whole or in part, on any
information contained in documents, materials or other information provided to them by, or on
behalf of, Company or the Parent, and (b) neither Company nor the Parent is making any
representations or warranties with respect to (i) any such documents, materials or other
information, other than, in each case, as set forth in this Agreement or (ii) the value, condition,
merchantability, marketability, profitability, suitability or fitness for a particular use or
purpose of the Assets. ACCORDINGLY, THE ASSETS ARE BEING TRANSFERRED “AS IS, WHERE IS.” EXCEPT
FOR THE REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 3.1 OF THIS AGREEMENT, THE
COMPANY AND PARENT MAKE ABSOLUTELY NO REPRESENTATIONS OR WARRANTIES WHATSOEVER, EXPRESS OR IMPLIED,
REGARDING THE ASSETS, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTY OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE, OR THE ABILITY OF THE COMPANY TO ASSIGN THE ASSETS, OR OBTAIN
CONSENTS TO ANY ASSIGNMENT.

4. COVENANTS; ACTION SUBSEQUENT TO CLOSING.

     4.1 Access to Books and Records. Until the third anniversary of the Closing Date, the
Parent and the Company shall afford, and will cause its affiliates to afford (subject to the
provisions of applicable laws), to the Buyer, its counsel, accountants and other authorized
representatives, during normal business hours, reasonable access to the books, records and other
data of the Company and the Business with respect to periods ending on or prior to the Closing Date
to the extent that such access may be reasonably required by the Buyer to facilitate (i) the
investigation, litigation and final disposition of any claims which may have been or may be made
against the Buyer in connection with the Business or (ii) for any other reasonable business
purpose. Following the Closing, the Buyer shall prepare, on behalf of the Company, all regularly
prepared financial reports and statements for periods up to and including the Closing Date, shall
deliver such reports to the Parent on or before August 12, 2005, and shall sign a “Representation
Compliance Letter” with

5

 

respect to all such financial reports and statements, and shall cooperate with and provide
assistance to the Parent and the Company in their financial and tax reporting obligations for the
periods up to and including the Closing Date.

     4.2 Mail. The Parent and the Company authorize and empower the Buyer on and after the
Closing Date to receive and open all mail received by the Buyer relating to the Business or the
Assets and to deal with the contents of such communications in any proper manner. The Parent and
the Company shall promptly deliver to the Buyer any mail or other communication received by them
after the Closing Date pertaining to the Business or the Assets. The Buyer shall promptly deliver
to the Parent any mail or other communication received by it after the Closing Date pertaining to
the Excluded Assets or Retained Liabilities, and any cash, checks or other instruments of payment
in respect of the Excluded Assets. As soon as is practicable after the Closing Date, and in no
event more than ten days thereafter, the Buyer shall mail to its customers and vendors a notice of
the sale in the form provided by the Parent, with such changes thereto as Buyer and Parent shall
agree.

     4.3 No Consent Contracts. To the extent that any contract of the Company included in
the Assets may not be assigned without the consent of any third party, and such consent is not
obtained prior to Closing (such contracts referred to as “No Consent Contracts"), this Agreement
and any assignment executed at Closing pursuant hereto shall not constitute an assignment thereof,
but to the extent permitted by law shall constitute an equitable assignment by the Company and
assumption by the Buyer of the Company’s rights and obligations under the applicable No Consent
Contract, with the Company making available to the Buyer the benefits thereof and the Buyer
performing the obligations thereunder on the Company’s behalf.

     4.4 Preparation and Filing of Certain Tax Forms. The Buyer shall prepare and timely
submit to Parent for signature and timely filing all Forms W-2, 940, 941 and 1099 with all
appropriate Governmental Entities, including without limitation any summary schedules and
transmittal forms, as well as any similar filings required by any state or local Governmental
Entity, with respect to all wages and other reportable payments or any sales tax liability for the
calendar year 2004 and for the partial year in 2005 ending on the Closing Date. As used herein,
"Governmental Entity” means any court or tribunal in any jurisdiction (domestic or foreign) or any
public, governmental or regulatory body, agency, department, commission, board, bureau or other
authority or instrumentality, domestic or foreign. The Buyer shall pay all administrative amounts
owed as a result of or otherwise related to such filings with the exception of any tax, interest,
or penalties associated with periods prior to the Closing. The Company will pay, on or before they
become due, any employment taxes withheld by it which have not been previously paid. The Buyer,
Parent and the Company shall cooperate in making all such filings and shall make available to the
others such information (subject to the provisions of applicable law) as any of them requires to
assure such filings are made on a timely and accurate basis.

     4.5 The Parent Name and Logos. As soon as practicable (but in any event within 90
days) after the Closing Date, the Buyer, at its expense, shall remove all of the Parent and its
affiliates’ names and logos from all of the Assets. Except as specifically provided in Section
1, nothing in this Agreement shall constitute a license or authorization for the Buyer to use
in any manner any name, logo or mark owned by or licensed to the Company, the Parent or their
respective affiliates which bears any reference to IES or any subsidiary of IES other than the
Company. The

6

 

name “Brink” and “Brink Electric” shall become the exclusive property of the Buyer following
the Closing and shall not be used by the Company, Parent or their respective affiliates; provided
that Parent will be given a reasonable period of time (not to exceed 90 days) to change the
Company’s name after the Closing Date.

     4.6 Leased Assets. At the Closing, the Buyer, at its expense, shall pay off or
refinance the leases on the vehicles and equipment listed on Schedule 4.6 attached hereto,
and in connection therewith shall obtain the release of Parent and the Company for all liability
under such vehicle leases. As soon as practicable (but in any event within 60 days) after the
Closing Date, the Buyer, at its expense, shall pay off or refinance the leases on the other assets
listed on Schedule 4.6 attached hereto, and in connection therewith shall obtain the
release of Parent and the Company for all liability under such leases.

     4.7 Chubb Bonds. Buyer agrees that at the Closing it shall execute and deliver to the
Federal Insurance Company and its subsidiary or affiliated insurers and any applicable co-sureties
(collectively, “Federal"), a General Agreement of Indemnity in the form attached as Exhibit
B, pursuant to which Buyer and Guarantor agree to (i) indemnify Federal with respect to the
performance and completion of the bonded obligations as set forth therein; and (ii) replace within
ninety (90) days the bonds identified as Cancelable Bonds therein. If, after the Closing, the
amount of Bonded Obligations is increased due to the issuance of a rider, supplement or amendment
to an existing bond, then Buyer will pay Parent $15 per $1,000 of increase to reimburse Parent for
the additional premium it will incur plus handling charges. Buyer further agrees to continue to
provide to Federal monthly written reports (with a copy to the Parent) as to the progress of the
completion of the bonded jobs. Buyer and Guarantor further agree to provide, from time to time and
at the request of the Parent, a certificate or certificates certifying that the Cancelable Bonds
have been replaced, and as to such other matters concerning the performance by the Buyer of its
post-closing obligations under this Agreement as Parent shall request.

     4.8 Retained Claims. The Company shall retain liability for certain insured claims as
set forth in Schedule 1.5, paragraph 5 (the “Retained Claims"). The Buyer and the Guarantor
agree to cooperate with the Company and the Parent in the defense of the Retained Claims and to
make available the Buyer’s personnel and facilities for that purpose. The Company shall retain as
Excluded Assets and not transfer to the Buyer all books and records associated with the Retained
Claims, as well as any reserves established on the books of the Company for the Retained Claims,
which reserves shall be paid in cash by the Buyer to the Company at Closing.

5. INDEMNIFICATION.

     5.1 Survival. The representations and warranties of the Company, the Parent, the
Buyer and the Guarantor contained in this Agreement, any schedules delivered by or on behalf of the
Company and the Buyer pursuant to this Agreement, or in any certificate, instrument, agreement or
other writing delivered by or on behalf of the Company, the Parent, the Buyer or the Guarantor
pursuant to this Agreement shall survive the consummation of the transactions contemplated herein;
provided that all such representations and warranties of the Company and the Parent shall be of no
further force and effect, and no claim for indemnification by the Buyer pursuant to this
Section 5 may be brought for any reason, after the expiration of twelve (12) months from
the Closing Date (the “Survival Period”), except for the representations and warranties contained
in Section 3.1(c),

7

 

which shall survive indefinitely. Anything to the contrary notwithstanding, a claim for
indemnification which is made but not resolved prior to the expiration of the Survival Period may
be pursued and resolved after such expiration.

     5.2 Indemnification by the Company.

          (a) In accordance with and subject to the provisions of this Section 5, the
Company and the Parent shall indemnify and hold harmless the Buyer from and against and in
respect of any and all loss, damage, diminution in value, liability, cost and expense,
including reasonable attorneys’ fees and amounts paid in settlement (collectively, the
“Buyer Indemnified Losses”), suffered or incurred by the Buyer by reason of, or arising out
of (i) any misrepresentation or breach of representation or warranty of the Company or the
Parent contained in this Agreement, or in any schedules delivered to the Buyer by or on
behalf of the Company or the Parent pursuant to this Agreement; (ii) the breach of any
covenant or agreement of the Company or the Parent contained in this Agreement; or (iii) the
Retained Liabilities.

          (b) The Company and the Parent shall reimburse the Buyer on demand for any Buyer
Indemnified Losses suffered by the Buyer with respect to matters other than claims, actions
or demands brought, made or instituted by a third party (“Third Party Claims”). With
respect to Third Party Claims, the Company and the Parent shall reimburse the Buyer on
demand for any Buyer Indemnified Losses suffered by the Buyer, based on the judgment of any
court of competent jurisdiction or pursuant to a bona fide compromise or settlement in
respect of any Buyer Indemnified Losses. The Company and the Parent shall have the
opportunity to defend at their expense any claim, action or demand for which the Buyer
claims indemnity against the Company or the Parent; provided that: (i) the defense is
conducted by reputable counsel; (ii) the defense is expressly assumed in writing within
twenty (20) days after written notice of the claim, action or demand is delivered to the
Company and the Parent; and (iii) counsel for the Buyer may participate at all times and in
all proceedings (formal and informal) relating to the defense, compromise and settlement of
the claim, action or demand at the expense of the Buyer.

     5.3 Indemnification by the Buyer.

          (a) In accordance with and subject to the provisions of this Section 5, the
Buyer and Guarantor shall, jointly and severally, indemnify and hold harmless the Company,
the Parent and their respective affiliates (for purposes of this Section 5, the
“Company Indemnitees”) from and against and in respect of any and all loss, damage,
diminution in value, liability, cost and expense, including reasonable attorneys’ fees and
amounts paid in settlement (collectively, the “Company Indemnified Losses”), suffered or
incurred by the Company Indemnitees by reason of, or arising out of (i) any
misrepresentation or breach of representation or warranty of the Buyer or Guarantor
contained in this Agreement, or in any schedules delivered to the Company or the Parent by
or on behalf of the Buyer or Guarantor pursuant to this Agreement; (ii) or the breach of any
covenant or agreement of the Buyer or Guarantor contained in this Agreement; (iii) the
Assumed Liabilities, including, without limitation, any liability to sureties with respect
to bonded jobs; or (iv) the operation of the Business following the Closing, including, but
not limited to, any claims made by

8

 

Transferred Employees concerning COBRA, the WARN Act, unemployment claim liability, or
any similar matters as a result of the termination by Buyer of the Transferred Employees.

          (b) The Buyer and the Guarantor, jointly and severally (the “Buyer Indemnifying
Parties"), shall reimburse the Company Indemnitees on demand for any Company Indemnified
Losses suffered by the Company Indemnitees with respect to matters other than Third Party
Claims. With respect to Third Party Claims, the Buyer Indemnifying Parties shall reimburse
the Company Indemnitees on demand for any Company Indemnified Losses suffered by the Company
Indemnitees, based on the judgment of any court of competent jurisdiction or pursuant to a
bona fide compromise or settlement in respect of any Company Indemnified Losses. The Buyer
Indemnifying Parties shall have the opportunity to defend at their expense any claim, action
or demand for which the Company Indemnitees claim indemnity against the Buyer Indemnifying
Parties; provided that: (i) the defense is conducted by reputable counsel; (ii) the defense
is expressly assumed in writing within twenty (20) days after written notice of the claim,
action or demand is delivered to the Buyer Indemnifying Parties; and (iii) counsel for the
Company and the Parent may participate at all times and in all proceedings (formal and
informal) relating to the defense, compromise and settlement of the claim, action or demand
at the expense of the Company and the Parent.

     5.4 Limitation and Payment on Claims. No claim shall be brought under this
Section 5 for breach of any representation or warranty, and no party hereto shall be
entitled to receive any payment with respect thereto, until such time as, and only to the extent
that, the aggregate amount of such claim(s) that such party has equals or exceeds $100,000 (the
"Deductible”); provided, however, that the Deductible shall not apply to any obligations under
Section 2.3. Anything to the contrary notwithstanding, the Company and the Parent shall
not be liable under this Section 5 for Buyer Indemnified Losses in excess of the Purchase
Price.

     5.5 Sole Remedy. The sole remedy of the Company, the Parent and the Buyer
Indemnifying Parties for breach of the representations and warranties set forth in Section
3 shall be pursuant to this Section 5.

6. DISPUTE RESOLUTION.

     6.1 Arbitration.

          (a) Any controversy, dispute or claim arising out of or relating in any way to this
Agreement or the other agreements contemplated by this Agreement or the transactions arising
hereunder (including the validity, interpretation or applicability of this Section
6.1) shall be settled exclusively by final and binding arbitration in Houston, Texas.
Such arbitration will apply the laws of the State of Texas and the commercial arbitration
rules of AAA to resolve the dispute, and will be administered by the AAA.

          (b) Written notice of arbitration must be given within one year after the notifying
party has knowledge of accrual of the claim on which the notice is based. If the claiming
party fails to give notice of arbitration within that time, the claim shall be deemed to be
waived and shall be barred from either arbitration or litigation.

9

 

          (c) Such arbitration shall be conducted by one independent and impartial arbitrator to
be selected by mutual agreement of the parties, if possible. If the parties fail to reach
agreement regarding appointment of an arbitrator within thirty (30) days following receipt
by one party of the other party’s notice of arbitration, the arbitrator shall be selected
from a list or lists of proposed arbitrators submitted by AAA. Unless the parties agree
otherwise, the arbitrator shall be a licensed attorney with at least ten years of experience
in the practice of law. The selection process shall be that which is set forth in the AAA
commercial arbitration rules then prevailing, except that (A) the number of preemptory
strikes shall not be limited and (B), if the parties fail to select an arbitrator from one
or more lists, AAA shall not initially have the power to make an appointment but shall
continue to submit additional lists until an arbitrator has been selected, but if no such
arbitrator is selected within sixty (60) days after the receipt of the first notice of
arbitration, the AAA shall have the power to make an appointment and shall promptly do so.
Initially, however, promptly following its receipt of a request to submit a list of proposed
arbitrators, AAA shall convene the parties in person or by telephone and attempt to
facilitate their selection of an arbitrator by agreement. If the arbitrator should die,
withdraw or otherwise become incapable of serving, a replacement shall be selected and
appointed in a like manner.

          (d) The arbitrator shall render an opinion setting forth findings of fact and
conclusions of law with the reasons therefor stated. A transcript of the evidence adduced
at the hearing shall be made and shall, upon request, be made available to either party.
The fees and expenses of the arbitrator shall be shared equally by the parties and advanced
by them from time to time as required; provided that at the conclusion of the arbitration,
the arbitrator may award costs and expenses (including the costs of the arbitration
previously advanced and the fees and expenses of attorneys, accountants and other experts).
No pre-arbitration discovery shall be permitted, except that the arbitrator shall have the
power in his or her sole discretion, on application by either party, to order
pre-arbitration examination of the witnesses and documents that the other party intends to
introduce in its case-in-chief at the arbitration hearing. The arbitrator shall render his
or her opinion and/or award within ninety (90) days of the conclusion of the arbitration
hearing. The arbitrator shall not be empowered to award to either party any punitive
damages in connection with any dispute between them arising out of or relating in any way to
this Agreement or the other agreements contemplated hereby or the transactions arising
hereunder or thereunder, and each party hereby irrevocably waives any right to recover such
damages. The arbitration hearings and award shall be maintained in confidence.

Notwithstanding anything to the contrary provided in this Section 6.1 and without prejudice
to the above procedures, either party may apply to any court of competent jurisdiction for
temporary injunctive or other provisional judicial relief if such action is necessary to avoid
irreparable damage or to preserve the status quo until such time as the arbitrator is selected and
available to hear such party’s request for temporary relief. The award rendered by the arbitrator
shall be final and not subject to judicial review and judgment thereon may be entered in any court
of competent jurisdiction.

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7. EMPLOYEE MATTERS.

     7.1 Hiring.

          (a) The Buyer shall hire (subject to each employee’s agreement), effective as of the
Closing Date, all of the employees of the Company on the day immediately prior to the
Closing Date, active or inactive (such employees being hereafter referred to as the
“Transferred Employees”) at a comparable job and at a rate of pay not less than each such
Transferred Employee’s pay as of the Closing Date. Upon request of the Buyer, the Company
shall provide the Buyer reasonable access (subject to the provisions of applicable law) to
data (including computer data) regarding the ages, dates of hire, compensation and job
description of the Transferred Employees.

          (b) The Buyer shall assume and be responsible for any severance costs associated with
the termination of the Transferred Employees’ employment with the Company. The Buyer shall
discharge all liabilities and claims based on occurrences or conditions first occurring or
commencing on or after the Closing Date with respect to Transferred Employees arising out of
their employment with the Buyer after the Closing Date, including, but not limited to, any
claims arising out of any employee benefit plan, policy, program or arrangement maintained
at any time by the Buyer (a “Buyer Plan” or collectively, the “Buyer Plans”), except Buyer
shall not assume any liabilities with respect to the WARN Act or COBRA benefits for any
terminations occurring prior to the Closing Date (unless provided otherwise by law or
pursuant to applicable regulations) nor shall the Company or the Parent be liable under the
WARN Act, COBRA, or state unemployment claims law for any Transferred Employee terminated by
Buyer after the Closing.

          (c) At Closing, the Buyer shall establish and make available a group medical plan for
the Transferred Employees and their dependents that is substantially similar to the group
medical plan available to the Transferred Employees immediately prior to Closing. The Buyer
shall credit the Transferred Employees with all service of the Transferred Employees
recognized under the employee benefit plans, policies, programs, or arrangements maintained
by the Parent or the Company (the “Parent Plans”) as service with the Buyer for purposes of
eligibility to participate, vesting and levels of benefits available, under all Buyer Plans.
The Buyer shall waive any coverage waiting period, pre-existing condition and
actively-at-work requirements under the Buyer Plans for the Transferred Employees and shall
provide that any expenses incurred before the Closing Date by a Transferred Employee (and
his or her dependents) during the calendar year of the Closing shall be taken into account
for purposes of satisfying the applicable deductible, coinsurance and maximum out-of-pocket
provisions, and applicable annual and/or lifetime maximum benefit limitations of the Buyer
Plans. The Buyer Plans shall not require contributions by Transferred Employees at a rate
that exceeds the rate in effect for other similarly situated employees of the Buyer. Any
reports or other information provided to Buyer by the Company or the Parent in connection
with Buyer performing his obligations under this Section 7.1(c) shall be at the sole
expense of the Buyer.

     7.2 Benefits. Except as provided in Section 7.1(b), the Buyer shall be
responsible for the payment of all amounts of wages, bonuses and other remuneration (including
discretionary

11

 

benefits and bonuses) payable to the Transferred Employees of the Company accrued with respect
to periods on or prior to the Closing (except for any employment taxes actually withheld by the
Company) together with amounts payable to such employees in connection with events occurring on or
prior to the Closing. In addition, the Buyer shall be responsible for:

          (a) all vacation pay and pay for other compensated absences earned or accrued by the
Transferred Employees as of the close of business on the Closing Date to the appropriate
employee, including any related payroll burden (FICA and other pension or other employee
benefit plan contributions and employment taxes) with respect thereto to the appropriate
Governmental Entity or other person, to the extent such pay has been accrued on the books of
the Company at such close of business, based upon the remuneration of such employees
normally used in computing such pay for other compensated absences; and

          (b) amounts accrued under the Integrated Electrical Services, Inc. 401(k) Retirement
Savings Plan (the “Parent 401(k) Plan") for the Transferred Employees as of the Closing Date
but not yet transferred to the trustee of the Parent 401(k) Plan, including without
limitation, the accrued match, accrued payroll deductions representing elective deferrals,
loan repayments and accrued profit sharing contribution, if any.

     7.3 Parent 401(k) Plan. The Company, the Parent and the Buyer agree that, as soon as
practicable after Closing, but in any event within 90 days of the Closing Date, the Buyer shall
establish a qualified 401(k) retirement savings plan (the “Buyer’s 401(k) Plan”) in accordance with
Section 414(l) of the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations
promulgated thereunder. Within 60 days after the Buyer’s 401(k) Plan is established and ready to
accept transfers, the Parent shall cause the transfer to the Buyer’s 401(k) Plan of the account
balances in the Parent 401(k) Plan of the Transferred Employees. In connection with such transfer,
the following provisions shall apply:

          (a) The account balances of the Transferred Employees transferred to the Buyer’s 401(k)
Plan shall be subject to the provisions of the Buyer’s 401(k) Plan effective as of the date
of transfer; provided, however that the Buyer’s 401(k) Plan shall continue any benefits
under the Parent 401(k) Plan as required under Section 411(d)(6) of the Code; and

          (b) The outstanding loan of any Transferred Employee shall not be in default as a
result of the Transferred Employee’s termination of employment with the Parent or the
Company, but such loan shall be transferred to the Buyer’s 401(k) Plan in accordance with
(a) above.

The Buyer shall provide acceptable evidence to the Parent that the Buyer’s 401(k) Plan meets the
requirements of Section 401(a) of the Code prior to the date of such transfer. The Buyer, the
Parent and the Company agree to take whatever action, including but not limited to plan amendments
and resolutions, to effectuate the transfer of the Transferred Employee’s account balances
according to this section from the Parent 401(k) Plan to the Buyer’s 401(k) Plan.

Notwithstanding the foregoing, nothing in this Section 7 shall be deemed or construed to
give rise to any rights, claims, benefits, or causes of action to any Transferred Employee or third
party whatsoever (including any Governmental Entity).

12

 

8. MISCELLANEOUS.

     8.1 Notices. All notices and communications required or permitted hereunder shall be
in writing and may be given by (a) depositing the same in the United States mail, addressed to the
party to be notified, postage prepaid and registered or certified with return receipt requested,
(b) by delivering the same in person to an officer or agent of such party, or (c) overnight
delivery service. Such notice shall be deemed received on the date (i) on which it is actually
received if sent by overnight delivery service or hand delivery, or (ii) on the third business day
following the date on which it is mailed. For purposes of notice, the addresses of the parties
hereto shall be:

If to the Parent or the Company:

Integrated Electrical Services, Inc.

1800 West Loop South, Suite 500

Houston, Texas 77027

Attention: Chief Financial Officer

With a copy to:

Integrated Electrical Services, Inc.

1800 West Loop South, Suite 500

Houston, Texas 77027

Attention: Chief Legal Officer

If to the Buyer or Guarantor:

Brink Constructors, Inc.

2950 N. Plaza Drive

Rapid City, SD 57702

Attention: Douglas F. Brink

With a copy to:

Charles L. Riter

Bangs, McCullen, Butler, Foye & Simmons, L.L.P.

818 St. Joseph Street

Rapid City, SD 57709

or such other address as any party hereto shall specify pursuant to this Section 8.1 from
time to time.

     8.2 Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall be deemed an original, and all of which together shall constitute one and the same
instrument.

     8.3 Governing Law. The validity and effect of this Agreement shall be governed by and
construed and enforced in accordance with the laws of the State of Texas, without regard to its
conflicts of laws rules.

13

 

     8.4 Successors and Assigns. This Agreement shall be binding upon and shall inure to
the benefit of the parties hereto and their respective permitted heirs, successors and assigns.
Neither the Company, the Parent, the Buyer nor the Guarantor may assign, delegate or otherwise
transfer any of their rights or obligations under this Agreement without the written consent by
each other party hereto.

     8.5 Partial Invalidity and Severability. All rights and restrictions contained herein
may be exercised and shall be applicable and binding only to the extent that they do not violate
any applicable laws and are intended to be limited to the extent necessary to render this Agreement
legal, valid and enforceable. If any term of this Agreement, or part thereof, not essential to the
commercial purpose of this Agreement shall be held to be illegal, invalid or unenforceable by a
forum of competent jurisdiction, it is the intention of the parties that the remaining terms
hereof, or part thereof, shall constitute their agreement with respect to the subject matter
hereof, and all such remaining terms, or parts thereof, shall remain in full force and effect. To
the extent legally permissible, any illegal, invalid or unenforceable provision of this Agreement
shall be replaced by a valid provision which will implement the commercial purpose of the illegal,
invalid or unenforceable provision.

     8.6 Waiver. Any term or condition of this Agreement may be waived at any time by the
party which is entitled to the benefit thereof, but only if such waiver is evidenced by a writing
signed by such party. No failure on the part of any party hereto to exercise, and no delay in
exercising, any right, power or remedy created hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise of any right, power or remedy by either party preclude any
other or further exercise thereof or the exercise of any other right, power or remedy. No waiver
by either party hereto of any breach of or default in any term or condition of this Agreement shall
constitute a waiver of or assent to any succeeding breach of or default in the same or any other
term or condition hereof.

     8.7 Headings. The headings of particular provisions of this Agreement are inserted
for convenience only and shall not be construed as a part of this Agreement or serve as a
limitation or expansion on the scope of any term or provision of this Agreement.

     8.8 Entire Agreement; Amendments. This Agreement supersedes all prior discussions and
agreements between the parties with respect to the subject matter hereof (including without
limitation any letters of intent executed by the parties), and this Agreement contains the sole and
entire agreement between the parties with respect to the matters covered hereby. This Agreement
shall not be altered or amended except by an instrument in writing signed by or on behalf of the
party against whom enforcement is sought.

     8.9 Disclosure of Agreement Terms. Neither Buyer nor the Guarantor shall disclose the
terms and conditions of this Agreement to any person or entity without the prior written consent of
an executive officer of the Parent or as required by applicable law or an order from a court or
administrative body of competent jurisdiction (but only to the extent so required and only after
giving reasonable prior notice to the Company and the Parent and cooperating with the Company and
the Parent in any efforts to legally oppose such disclosure). The foregoing notwithstanding, the
Buyer and the Guarantor shall be permitted to make such disclosures to their accountants, lawyers,

14

 

financial institutions, lending sources, senior employees and related parties as may be
appropriate, provided that such parties are bound by the foregoing nondisclosure provisions.

     8.10 Number and Gender. Where the context requires, the use of the singular form
herein shall include the plural, the use of the plural shall include the singular, and the use of
any gender shall include any and all genders.

15

 

     IN WITNESS WHEREOF, this Agreement has been executed effective as of the date set forth above.

    	 	 	 	 	 	 
	 
	 	PARENT:	 	 
	 
	 	 	 	 	 
	 
	 	INTEGRATED ELECTRICAL SERVICES,
          INC.	 	 
	 
	 	 	 	 	 
	 
	 	By:	/s/ Curt L. Warnock	 	 
	 
	 	 	 	 	 
	 
	 	Name:	Curt L. Warnock	 	 
	 
	 	 	 	 	 
	 
	 	Title:	Sr. Vice President, General
Counsel	 	 
	 
	 	 	 	 	 
	 
	 	 	 	 	 
	 
	 	COMPANY:	 	 
	 
	 	 	 	 	 
	 
	 	BRINK ELECTRIC CONSTRUCTION
          CO.	 	 
	 
	 	 	 	 	 
	 
	 	By:	/s/ Curt L. Warnock	 	 
	 
	 	 	 	 	 
	 
	 	Name:	Curt L. Warnock	 	 
	 
	 	 	 	 	 
	 
	 	Title:	Vice President	 	 
	 
	 	 	 	 	 
	 
	 	 	 	 	 
	 
	 	BUYER:	 	 
	 
	 	 	 	 	 
	 
	 	BRINK CONSTRUCTORS, INC.	 	 
	 
	 	 	 	 	 
	 
	 	By:	/s/ Douglas F. Brink	 	 
	 
	 	 	 	 	 
	 
	 	Name:	Douglas F. Brink	 	 
	 
	 	 	 	 	 
	 
	 	Title:	Vice President	 	 
	 
	 	 	 	 	 
	 
	 	 	 	 	 
	 
	 	GUARANTOR:	 	 
	 
	 	 
/s/ Douglas F. Brink	 
	 
	 	 	 	 	 
	 
	 	DOUGLAS F. BRINK	 	 

16

 

EXHIBIT A

BILL OF SALE, ASSIGNMENT AND ASSUMPTION AGREEMENT

     This BILL OF SALE, ASSIGNMENT AND ASSUMPTION AGREEMENT (“Bill of Sale”) is entered into as of
the ___day of July 2005, by and among INTEGRATED ELECTRICAL SERVICES, INC., a Delaware corporation
(the “Parent”), BRINK ELECTRIC CONSTRUCTION CO., a South Dakota corporation (the “Company”) and
BRINK CONSTRUCTORS, INC., a South Dakota corporation (the “Buyer”).

RECITALS

     WHEREAS, pursuant to the terms of that certain Asset Purchase Agreement (the “Purchase
Agreement") dated as of even date herewith by and among the Buyer, the Parent, the Company, and
Douglas F. Brink, individual, the Company and the Parent agreed to convey the Assets to the Buyer
and the Buyer agreed to assume the Assumed Liabilities. In order to evidence such conveyance and
assumption, the parties desire to enter into this Bill of Sale.

     WHEREAS, all capitalized terms used herein but not defined herein shall have the meanings
ascribed to them in the Purchase Agreement.

ASSIGNMENT

     NOW, THEREFORE, for and in consideration of the mutual covenants, agreements, and benefits
contained herein, the sum of TEN DOLLARS ($10.00) and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and the Parent do hereby
BARGAIN, GRANT, SELL, CONVEY, TRANSFER, DELIVER and ASSIGN unto Buyer all the Assets.

     The Assets are hereby conveyed free and clear of all encumbrances other than the Permitted
Encumbrances.

     TO HAVE AND TO HOLD the Assets unto the Buyer and its successors and assigns forever; and the
Company and the Parent do hereby bind themselves and their successors and assigns to WARRANT AND
FOREVER DEFEND title to the Assets in accordance with the terms and provisions of the Purchase
Agreement.

     The Buyer, upon execution below, accepts this Bill of Sale, and to the extent provided for in
the Purchase Agreement, hereby assumes the Assumed Liabilities, but no others.

     This assignment shall be binding upon and shall inure to the benefit of the parties hereto and
their respective permitted successors and assigns.

 

 

     This Bill of Sale may be executed in any number of counterparts, and each counterpart shall
for all purposes be deemed to be an original.

     This Bill of Sale is subject to all terms and conditions contained in the Purchase Agreement
and nothing herein shall be deemed to alter, amend, or supersede the Purchase Agreement, the terms
of which shall in all respects be controlling.

[Remainder of page intentionally left blank]

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Bill of Sale effective as of the
date set forth above.

    	 	 	 	 	 	 
	 
	 	PARENT:	 	 
	 
	 	 	 	 	 
	 
	 	INTEGRATED ELECTRICAL SERVICES,
          INC.	 	 
	 
	 	 	 	 	 
	 
	 	By:	 	 	 
	 
	 	 	 	 	 
	 
	 	Name:	 	 	 
	 
	 	 	 	 	 
	 
	 	Title:	 	 	 
	 
	 	 	 	 	 
	 
	 	 	 	 	 
	 
	 	COMPANY:	 	 
	 
	 	 	 	 	 
	 
	 	BRINK ELECTRIC CONSTRUCTION
          CO.	 	 
	 
	 	 	 	 	 
	 
	 	By:	 	 	 
	 
	 	 	 	 	 
	 
	 	Name:	 	 	 
	 
	 	 	 	 	 
	 
	 	Title:	 	 	 
	 
	 	 	 	 	 
	 
	 	 	 	 	 
	 
	 	BUYER:	 	 
	 
	 	 	 	 	 
	 
	 	BRINK CONSTRUCTORS, INC.	 	 
	 
	 	 	 	 	 
	 
	 	By:	 	 	 
	 
	 	 	 	 	 
	 
	 	Name:	 	 	 
	 
	 	 	 	 	 
	 
	 	Title:	 	 	 
	 
	 	 	 	 	 

 

 

EXHIBIT B

FORM OF GENERAL AGREEMENT OF INDEMNITY

 

 

CHUBB GROUP OF INSURANCE COMPANIES

15 Mountain View Road, P.O. Box 1615, Warren, New Jersey 07061-1615

 

GENERAL AGREEMENT OF INDEMNITY

     WHEREAS, the undersigned (hereinafter individually and collectively called “Indemnitor”)
desires FEDERAL INSURANCE COMPANY or any of its subsidiary or affiliated insurers (hereinafter
called “Company”) to execute bonds including undertakings and other like obligations (hereinafter
referred to as bond or bonds) on its behalf and also desires the execution of bonds on behalf of
individuals, partnerships, corporations, limited liability companies or any other similarly
unincorporated associations of members (hereinafter called “Affiliates”).

     WHEREAS, from time to time the Indemnitor may be a participant in joint ventures with others,
and bonds will be required on behalf of the Indemnitor along with the other participants in such
joint ventures.

     WHEREAS, Indemnitor is the successor-in-interest to BRINK ELECTRIC CONSTRUCTION CO., a South
Dakota corporation (along with any other affiliate or related entity whose assets have been or will
be assigned to Indemnitor hereinafter individually and collectively called “Seller”) as the
assignee of all bonded contract obligations, which Indemnitor has expressly assumed without
reservation

     NOW, THEREFORE, in consideration of the Company executing said bond or bonds, and the
undersigned Indemnitor hereby requests the execution thereof, and in consideration of the consent
of Company to the assignment and assumption of the bonded obligations formerly undertaken by the
Seller, as well as the sum of One Dollar paid to the Indemnitor by said Company, the receipt
whereof is hereby acknowledged, the Indemnitor, being benefited by the execution and delivery of
said bond or bonds, including, without limitation all Bonds previously issued prior to the date of
this Agreement for the Seller, the bonded obligations of which have been expressly assumed without
reservation by Indemnitor(s) and as to which Indemnitor(s) have agreed, and do hereby agree, to
assume full responsibility for work in place as well as the prompt and proper performance and
completion of all such bonded obligations, including, without limitation those bonded obligations
listed on Exhibit A attached hereto, hereby agrees that it will at all times jointly and severally
indemnify and save harmless said Company from and against any and all loss, cost, damage or
expense, including court costs and attorneys’ fees, which it shall at any time incur by reason of
its execution and/or delivery of said bond or bonds or its payment of any claim or liability
thereunder and will place the said Company in funds to meet all its liability under said bond or
bonds promptly on request and before it may be required to make any payment thereunder and that the
voucher or other evidence of payment by said Company of any such loss, cost, damage, expense,
claim, or liability shall be prima facie evidence of the fact and amount of the Indemnitor’s
liability to said Company under this Agreement.

     IT IS UNDERSTOOD AND AGREED that with respect to any bonds on behalf of the Indemnitor
participating in a joint venture that if specific application is filed with the Company for such
bonds the liability of the Indemnitor to the Company with respect to such joint venture bonds shall
be limited to the amount expressly set forth in said application.

     IT IS UNDERSTOOD AND AGREED that all of the terms, provisions, and conditions of this
Agreement shall be extended to and for the benefit not only of the Company either as a direct
writing company or as a co-surety or reinsurer but also for the benefit of any surety or insurance
company or companies with which the Company may participate as a co-surety or reinsurer and also
for the benefit of any other company which may execute any bond or bonds at the request of the
Company on behalf of the Indemnitor .

     IT IS UNDERSTOOD AND AGREED that this Agreement is in addition to all other rights and
agreements which Company may have or be a party to in connection with Bonds previously issued for
the benefit of Seller and that the assumption of responsibility therefor by Indemnitors as herein
provided shall not constitute a waiver or release by Company of any rights Company may have to seek
and recover indemnity from third parties having liability in connection with the issuance of such
Bonds including, but not limited to, the obligations and liabilities of Integrated Electrical
Services, Inc., Brink Electric Construction Co., or their affiliates.

     IT IS UNDERSTOOD AND AGREED that, notwithstanding anything herein to the contrary,
Indemnitor’s agreements, covenants, and all obligations under this General Agreement of Indemnity
is limited to (1) the obligations assumed by Indemnitor (the “Assumed Obligations”) under the Asset
Purchase Agreement (“APA”) by and among Integrated Electrical Services, Inc. (“IES”), Brink
Electric Construction Co., Brink Constructors, Inc., and Douglas F. Brink, and (2) Company’s
obligations under the bonds listed on Exhibit A attached hereto. Furthermore, Indemnitor has
acknowledged and agreed that Indemnitor’s obligation to perform or otherwise discharge the Assumed
Obligations is secured by certain assets acquired by Indemnitor under the APA (the “Collateral”),
said Collateral acquired subject to that certain Underwriting, Continuing Indemnity, and Security
Agreement dated as of January 14, 2005, executed by and among Company, IES, and certain IES
affiliates, including Brink Electric Construction Co.

     IT IS UNDERSTOOD AND AGREED, that Indemnitor will replace Bond No. 81889173 identified on
Exhibit A (the “Cancelable Bond”) no later than ninety (90) days from the execution of this
Agreement, and hereby acknowledges and consents that the Cancelable Bond will be canceled upon the
earlier of (i) the date of issuance of a replacement bond or (ii) the date upon which Federal
issues notice of cancellation in compliance with the terms the Cancelable Bond to be canceled
thereby. Indemnitor’s obligation under this Agreement with respect to any bond or bonds canceled
or replaced as contemplated herein will remain with respect to such liability accruing under said
bond or bonds.

 

 

     IT IS FURTHER UNDERSTOOD AND AGREED that the Indemnitor, its heirs, successors and assigns are
jointly and severally bound by the foregoing conditions of this Agreement.

     IN WITNESS WHEREOF the Indemnitor has signed this instrument this, the ___day of
___, 2005.

	 	 	 
	WITNESS:

	 	BRINK CONSTRUCTORS, INC. a South Dakota corporation
	 
	 	 
	 

	 	By:_____________________________________________________
	 
	 	 
	

	 	Its:____________________________________________________
	 
	 	 
	WITNESS:

	 	DOUGLAS F. BRINK
	 
	 	 
	 

	 	 

CORPORATE ACKNOWLEDGMENT

STATE OF ________________

COUNTY OF ______________

     On this ___day of ____________________, 2005, before me personally came
________________________ to me known, who, being by me duly sworn, did depose and say that he resides
in the State of ____________________ and that he is the __________________ of BRINK CONSTRUCTORS,
INC., a South Dakota corporation, the corporation described in and which executed the foregoing
instrument; that he knows the corporate seal of said Corporation; that the seal affixed to said
instrument is such corporate seal; that it was so affixed by order and authority of the Board of
Directors of said Corporation; and that he signed his name thereto by like order and authority.

	 	 
	(SEAL)

	____________________________

NOTARY PUBLIC

	 

	My commission expires:

	 

	______________________________

INDIVIDUAL ACKNOWLEDGMENT

STATE OF _________________

COUNTY OF _______________

     On this ___day of _________________, 2005, before me personally came DOUGLAS F.
BRINK, to me known, who, being by me duly sworn, did depose and say that he resides in the State of
Idaho; and that he executed the foregoing instrument for the purposes therein contained.

	 	 
	(SEAL)

	____________________________

NOTARY PUBLIC

	 

	My commission expires:

	 

	______________________________

2

 

EXHIBIT A

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	Bond No.	 	 	Named Principal	 	 	Obligee	 	 	Bond Description	 	 	Amount	 
	 	8193-44-43

	 	 	Brink Electric
Construction Co.
	 	 	United States of
America
	 	 	Denison Substation,

Stage 9
	 	 	$	2,384,124.14	 	 
	 	8196-31-59

	 	 	Brink Electric
Construction Co.
	 	 	Tri-State
Generation and
Transmission and
United States of
America
	 	 	Lost Canyon

Substation Addition
	 	 	$	1,725,267.08	 	 
	 	8196-77-47

	 	 	Brink Electric
Construction Co.
	 	 	Powder River Energy

Corporation
	 	 	Barber Creek to
Indian Creek 69 KV
Transmission Line
	 	 	$	2,550,651.45	 	 
	 	8196-95-04

	 	 	Brink Electric
Construction Co.
	 	 	Southern Minnesota

Municipal Power

Agency
	 	 	DPC Fountain
Substation to
Harmony Tap
	 	 	$	1,505,927.58	 	 
	 	8188-91-73

	 	 	Brink Electric
Construction Co.
	 	 	State of Oregon
	 	 	Construction
Contractor’s Bond
	 	 	$	10,000	 	 
	 	8196-77-61

	 	 	Brink Electric
Construction Co.
	 	 	High Plains Power
	 	 	 	 	 	$	866,743.00	 	 
	 	8196-95-09

	 	 	Brink Electric
Construction Co.
	 	 	Wheatland Electric
	 	 	 	 	 	$	561,509.00	 	 
	 

3

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