Document:

EX-10.42

 Exhibit 10.42 

 

					
	

	  	Agreement of Indemnity	  	

 THIS AGREEMENT of Indemnity, made and entered into this Seventh day of September, 2011 by GREAT
LAKES DREDGE & DOCK CORPORATION, GREAT LAKES DREDGE & DOCK COMPANY, LLC, LYDON DREDGING & CONSTRUCTION COMPANY, LTD., FIFTY-THREE DREDGING CORPORATION, DAWSON MARINE SERVICES COMPANY, GREAT LAKES DREDGE & DOCK
ENVIRONMENTAL, INC. f/k/a GREAT LAKES CARIBBEAN DREDGING, INC., NASDI, LLC, NASDI HOLDINGS CORPORATION, YANKEE ENVIRONMENTAL SERVICES, LLC, GREAT LAKES DREDGE & DOCK (BAHAMAS) LTD., each individually and collectively “Contractor,”
and GREAT LAKES DREDGE & DOCK CORPORATION, GREAT LAKES DREDGE & DOCK COMPANY, LLC, LYDON DREDGING & CONSTRUCTION COMPANY, LTD., FIFTY-THREE DREDGING CORPORATION, DAWSON MARINE SERVICES COMPANY, GREAT LAKES
DREDGE & DOCK ENVIRONMENTAL, INC. f/k/a GREAT LAKES CARIBBEAN DREDGING, INC., NASDI, LLC, NASDI HOLDINGS CORPORATION, YANKEE ENVIRONMENTAL SERVICES, LLC and GREAT LAKES DREDGE & DOCK (BAHAMAS) LTD., each individually and
collectively “Indemnitors,” and ZURICH AMERICAN INSURANCE COMPANY and its Subsidiaries and Affiliates including, but not limited to FIDELITY AND DEPOSIT COMPANY OF MARYLAND, COLONIAL AMERICAN CASUALTY AND SURETY COMPANY, and AMERICAN
GUARANTEE AND LIABILITY INSURANCE COMPANY, its successors and assigns (”Surety”). 
 WITNESSETH: 

WHEREAS, Contractors, in the performance of contracts and the fulfillment of obligations generally, whether in each Contractor’s own
name solely or in joint venture with each other or with other Persons, may desire or be required to give or procure Bonds, and to renew, or continue or substitute from time to time the same or new Bonds with the same or different penalties and/or
conditions; or the Contractors or Indemnitors may request the Surety to refrain from cancelling said Bonds; and 
 WHEREAS, at
the request of Contractors and Indemnitors and on the express understanding that this Agreement of Indemnity be given, the Surety has executed or procured to be executed, and may from time to time hereafter execute or procure to be executed, said
Bonds on behalf of one or more Contractors; and 
 WHEREAS, Contractors and Indemnitors have a substantial, material and
beneficial interest in the obtaining of the Bonds or in the Surety's refraining from cancelling said Bonds. 
 Now, THEREFORE,
in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Contractors and Indemnitors for themselves, their heirs, executors, administrators, successors and assigns,
jointly and severally, hereby covenant and agree with Surety, as follows: 
 PREMIUMS 

FIRST: Contractors and Indemnitors will pay to the Surety, in such manner as may be agreed upon, all premiums and charges of Surety for
the Bonds in accordance with Surety’s rate filings or as otherwise agreed upon, until Contractors or Indemnitors shall serve evidence reasonably satisfactory to the Surety of Surety’s discharge or release from the Bonds and all liability
by reason of the Bonds. 
 INDEMNITY 
 SECOND: Contractors and Indemnitors shall exonerate, indemnify, and keep indemnified the Surety from and against any and all liability and Loss which the Surety may sustain and incur: (a) by reason
of having executed or procured the execution of the Bonds, (b) by reason of the failure of Contractors or Indemnitors to perform or comply with the covenants and conditions of this Agreement or the Equipment Utilization Agreement or (c) in
enforcing any of the covenants and conditions of this Agreement or the Equipment Utilization Agreement. Payment by reason of the aforesaid causes shall be made to the Surety by the Contractors and Indemnitors as soon as liability exists or is
asserted against the Surety, whether or not the Surety shall have made any payment therefor, provided, however, that in no event shall any Contractor or Indemnitor indemnify or hold and save harmless the Surety against any Loss arising out of the
gross negligence, willful misconduct or illegal act of the Surety. 
 ASSIGNMENT 

THIRD: The Contractors and Indemnitors will assign, transfer and set over, and do hereby assign, transfer and set over to the Surety the
following as collateral, to secure the obligations in any and all of the paragraphs of this Agreement and any other indebtedness and liabilities of Contractors and Indemnitors to the Surety, whether heretofore or hereafter incurred: (a) all the
rights of Contractors and/or Indemnitors in, and growing in any manner out of, all contracts referred to in the Bonds, or in, or growing in any manner out of the Bonds; (b) all the rights, title and interest of Contractors and/or Indemnitors in
and to all machinery, equipment, plant, tools and materials which are now, or may hereafter be, about or upon the site or sites of any and all 

  

					
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of the contractual work referred to in the Bonds, or elsewhere, including materials purchased for or chargeable to any and all contracts referred to in the bonds, materials which may be in
process of construction, in storage elsewhere, or in transportation to any and all of said sites, and equipment which may be necessary or proper to perform any contractual work referred to in the Bonds; (c) all rights, title and interest
(including the right to use) of Contractors and/or Indemnitors in and to all general intangibles and intellectual property used in or related to any and all contractual work referred to in the Bonds, including, without limitation, any business
records, inventions, designs, patents, patent applications, trademarks, trademark applications, trade names, trade secrets, copyrights, any intellectual property, licenses, franchises, customer lists, insurance proceeds, insurance refunds and
equivalents, software, computer programs, computer hardware, computer systems, architectural drawings, plans and specifications (d) all the rights, title and interest of Contractors and/or Indemnitors in and to all subcontracts let or to be let
in connection with any and all contracts referred to in the Bonds, and in and to all surety bonds supporting such subcontracts; (e) all actions, causes of actions, claims and demands whatsoever which the Contractors and/or Indemnitors may have
or acquire against any obligee, any subcontractor, laborer or materialman, or any person furnishing or agreeing to furnish or supply labor, material, supplies, machinery, tools or other equipment in connection with or on account of any and all
contracts referred to in the Bonds; and against any surety or sureties of any obligee, subcontractor, laborer, or materialman; (f) any and all percentages retained, receivables and any and all sums that may be due or hereafter become due on
account of any and all contracts referred to in the Bonds; and (g) any real or personal property, the improvement of which is secured by any Bond. The assignment in the case of each contract to become effective as of the date of the Bond
covering such contract, but only on Event of Default. 
 TRUST FUND 

FOURTH: The Contractors and Indemnitors covenant and agree that all payments received for or on account of contracts covered by the Bonds
shall be held as trust funds in which the Surety has an interest, for the payment of obligations incurred in the performance of the contract and for labor, materials, and services furnished in the prosecution of the work provided in the contract or
any authorized extension or modification thereof. Further, it is expressly understood and declared that all monies due and to become due under any contracts covered by the Bonds are trust funds, whether in the possession of any Contractor or
Indemnitor or otherwise, for the benefit of and for payment of all such obligations in connection with any such contract or contracts for which the Surety would be liable under any Bonds, which trust also inures to the benefit of the Surety for any
liability or Loss Surety may have or sustain under any Bonds, and this Agreement and declaration shall also constitute notice of such trust. 
 UNIFORM COMMERCIAL CODE 
 FIFTH: This Agreement shall constitute a Security
Agreement to the Surety and also a Financing Statement, both in accordance with the provisions of the Uniform Commercial Code of every jurisdiction wherein such Code is in effect, and may be so used by the Surety, without in any way abrogating,
restricting or limiting the rights of the Surety under this Agreement or under law or in equity. 
 TAKEOVER 

SIXTH: Should an Event of Default occur, Surety shall have the right, at its option and in its sole discretion, and is hereby authorized,
with or without exercising any other right or option conferred upon it by law or in the terms of this Agreement and/or the Equipment Utilization Agreement, to take possession of any part or all of the work, materials and equipment under any contract
or contracts covered by any Bonds and any other materials or equipment which the Surety deems necessary or proper to perform any contractual work referred to in the Bonds, and at the expense of the Contractors and Indemnitors to complete or arrange
for the completion of the same. The Contractors and Indemnitors shall promptly on demand pay to the Surety all Loss so incurred; provided, however, that in no event shall any Contractor or Indemnitor indemnify or hold and save harmless the Surety
against any Loss arising out of the gross negligence, willful misconduct or illegal act of the Surety. 
 CHANGES

 SEVENTH: The Surety is authorized and empowered, without notice to or knowledge of Contractors and/or Indemnitors to
assent to any change whatsoever in the Bonds, and/or any contracts referred to in the Bonds, and/or in the general conditions, plans and/or specifications accompanying said contracts, including, but not limited to, any change in the time for the
completion of said contracts and to payments or advances thereunder before the same may be due, and to assent to or take any assignment or assignments, to execute or consent to the execution of any continuations, extensions or renewals of the Bonds
and to execute any substitute or substitutes therefor, with the same or different conditions, provisions and obligees and with the same or larger or smaller penalties, it being expressly understood and agreed that Contractors and Indemnitors shall
remain bound under the terms of this Agreement even though any such assent by the Surety does or might substantially increase the liability of Contractors and Indemnitors. 
 ADVANCES 
 EIGHTH: The Surety is authorized and empowered to guarantee
loans, to advance or lend to any Contractor any money, which the Surety may see fit, for the purpose of any contracts referred to in, or guaranteed by the Bonds. Contractors and Indemnitors shall be responsible for indemnifying Surety for all money
expended in the completion of any such contracts by the Surety, or lent or advanced from time to time to any Contractor, or guaranteed by the Surety for the purposes of any such contracts, and all Loss incurred by the Surety in relation to such
guarantee, advance or lending, unless repaid with legal interest by that Contractor to the Surety when due, notwithstanding that said money or any part thereof should not be so used by that Contractor. 

  

					
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 BOOKS AND RECORDS 

NINTH: At any time, and until such time as the liability of the Surety under any and all Bonds is terminated, the Surety shall have the
right to reasonable access to the books, records, and accounts of the Contractors and Indemnitors. Contractors and Indemnitors hereby authorize any bank depository, materialman, supply house, or other person, firm, or corporation, when requested by
the Surety, to furnish the Surety any information requested, including but not limited to the status of the work under contracts being performed by any Contractor, the condition of the performance of such contracts, and payments of accounts.

 DECLINE EXECUTION 
 TENTH: Surety may decline to execute any Bond and Contractors and Indemnitors agree to make no claim to the contrary in consideration of the Surety's receiving this Agreement; and if the Surety shall
execute a bid or proposal Bond, it shall have the right to decline to execute any and all Bonds that may be required in connection with any award that may be made under the proposal for which the bid or proposal Bond is given, and such declination
shall not diminish or alter the liability that may arise by reason of having executed the bid or proposal Bond. 
 NOTICE OF
EXECUTION 
 ELEVENTH: Contractors and Indemnitors hereby waive notice of the execution of any and all Bonds and all notice
of any default or any other act or acts giving rise to any claim under said Bonds, as well as notice of any and all liability of the Surety under such Bonds, and any and all liability on their part hereunder, to the end and effect that the
Contractors and Indemnitors shall be and continue liable to Surety under this Agreement, notwithstanding any notice of any kind to which they might have been or be entitled, and notwithstanding any defenses they might have been entitled to make.

 PAYMENTS 
 TWELFTH: In the event the Surety makes any payment or other determination arising from or related to the Bonds and/or this Agreement, or in the event of settlement, compromise or judgment, Contractors and
Indemnitors further agree that in any accounting between the Surety and any Contractor, or between the Surety and the Indemnitors, or either or both of them, the Surety shall be entitled to charge for any and all payments made by the Surety in good
faith under the belief that the Surety is or was liable for the sums and amounts paid, or that it was necessary or expedient to make such payments to protect any of the Surety’s rights or to avoid or lessen the Surety’s liability or
alleged liability, whether or not such liability, necessity or expediency existed; provided, however, that in no event shall any Contractor or Indemnitor indemnify or hold and save harmless the Surety against any Loss arising out of the gross
negligence, willful misconduct or illegal act of the Surety. These payments include the Surety’s costs and expenses and other elements of Loss. Any such payments shall be final, conclusive and binding upon Contractors and Indemnitors; and any
Loss which may be sustained or incurred shall be paid by the Contractors and Indemnitors upon written demand by the Surety. In the event of any payment, settlement, compromise or judgment by the Surety, an itemized statement of Loss sworn to by an
officer or authorized representative of the Surety or voucher(s) or other documentary evidence of such payment, settlement, compromise or judgment shall be prima facie evidence of the fact and amount of Contractors’ and Indemnitors’
liability to the Surety. 
 SETTLEMENTS 
 THIRTEENTH: Surety shall have the absolute and unconditional right to adjust, settle or compromise any claim, demand, suit or judgment upon the Bonds. If Contractors and Indemnitors shall request the
Surety to litigate such claim or demand, or to defend such suit, or to appeal from such judgment, then Contractors and Indemnitors shall deposit with the Surety, at the time of such request, cash or collateral satisfactory to the Surety in kind and
amount, to be used in paying any judgment or judgments rendered or that may be rendered, with interest, costs, expenses and attorneys' fees, including those of the Surety, and the Surety shall consider such request. 

SURETIES 

FOURTEENTH: In the event the Surety procures the execution of the Bonds by other sureties, or executes the Bonds with co-sureties, or
reinsures any portion of the Bonds with reinsuring sureties, or reinsures any Bonds executed by others, then all the terms and conditions of this Agreement shall inure to the benefit of such other sureties, co-sureties and reinsuring sureties, as
their interests may appear. 
 SUITS 
 FIFTEENTH: Separate suits may be brought hereunder as causes of action accrue, and the bringing of suit or the recovery of judgment upon any cause of action shall not prejudice or bar the bringing of
other suits, upon other causes of action, whether theretofore or thereafter arising. 
 OTHER INDEMNITY 

SIXTEENTH: Contractors and Indemnitors shall continue to remain bound under the terms of this Agreement even though the Surety may have
from time to time before or after the execution of this Agreement, with or without notice to or knowledge of Contractors and Indemnitors, accepted or released other agreements of indemnity or collateral in connection with the execution or
procurement of the Bonds, from Contractors or Indemnitors or others, it being expressly understood and agreed by the Contractors 

  

					
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and the Indemnitors that any and all other rights which the Surety may have or acquire against the Contractors and the Indemnitors and/or others under any such other or additional agreements of
indemnity or collateral shall be in addition to, and not in lieu of, the rights afforded the Surety under this Agreement. 

INVALIDITY 
 SEVENTEENTH: In case any of the parties mentioned in this Agreement fail to execute the same, or in case the execution hereof by any of the parties be defective or invalid for any reason, such failure,
defect or invalidity shall not in any manner affect the validity of this Agreement or the liability hereunder of any of the parties executing the same, but each and every party so executing shall be and remain fully bound and liable hereunder to the
same extent as if such failure, defect or invalidity had not existed. It is understood and agreed by the Contractors and Indemnitors that the rights, powers, and remedies given the Surety under this Agreement shall be and are in addition to, and not
in lieu of, any and all other rights, powers, and remedies which the Surety may have or acquire against the Contractors and Indemnitors or others whether by the terms of any other agreement or by operation of law or otherwise. 

ATTORNEY IN FACT 
 EIGHTEENTH: Contractors and Indemnitors hereby irrevocably nominate, constitute, appoint and designate Surety as their attorney-in-fact, with the right, but not the obligation, to exercise all of the
rights of Contractors and Indemnitors assigned, transferred and set over to the Surety in this Agreement, and in the name of Contractors and Indemnitors to make, execute, and deliver any and all additional or other assignments, documents or papers
deemed necessary and proper by Surety in order to give full effect not only to the intent and meaning of the assignments in this Agreement, but also to the full protection intended to be given to Surety under all other provisions of this Agreement.
Contractors and Indemnitors hereby ratify and confirm all acts and actions taken and done by the Surety as such attorney-in-fact. 
 TERMINATION 
 NINETEENTH: This Agreement may be
terminated by any Contractor or Indemnitor by sending written notice of termination to the Surety via registered mail to the Surety’s home office at Zurich Surety, Red Brook Corporate Center, 600 Red Brook Blvd., 4th Floor, Owings Mills, Maryland 21117, Attention: Vice President,
Surety Department. Such notice of termination shall be effective as to the party sending the notice, ten (10) days from Surety’s receipt of the notice and shall apply all future Bonds and Bond commitments following the effective date.
However, any such notice of termination shall not operate to modify, bar, or discharge the party sending as to Bonds and Bond commitments that may have been theretofore issued and/or executed, nor shall the notice of termination affect the
obligations of any other party to this Agreement. 
 BONDS FOR OTHER ENTITIES 

TWENTIETH: Contractors and Indemnitors hereby agree that their obligations under this Agreement shall apply to any Bonds the Surety
executes on behalf of any Subsidiaries or Affiliates of Contractors or Indemnitors, and if requested in writing by GREAT LAKES DREDGE & DOCK CORPORATION or GREAT LAKES DREDGE & DOCK COMPANY, LLC, any other legal entities in which
any Contractor or Indemnitor has an ownership interest including, but not limited to, any corporations, partnerships, limited liability companies (LLC) and joint ventures, whether acting alone or in joint venture with others not named in this
Agreement. In addition, the Contractors and Indemnitors agree that their obligations under this Agreement shall apply to any Bonds the Surety issues on behalf of any entity upon the written request of GREAT LAKES DREDGE & DOCK CORPORATION
or GREAT LAKES DREDGE & DOCK COMPANY, LLC. 
 OTHER PROVISIONS 

TWENTY-FIRST: NO ORAL MODIFICATION: This Agreement may not be changed or modified orally. No change or modification shall be effective
unless made by written endorsement executed to form a part hereof. 
 TWENTY-SECOND: PLACE SURETY IN FUNDS: Should an Event of
Default occur, or upon determination by Surety, in its sole and absolute discretion, that potential liability exists under any Bond (regardless of whether liability has been established or whether Surety, Contractors or Indemnitors may have defenses
to all or any portion of any claim asserted under any Bond), Contractors and Indemnitors shall, upon demand, deposit with Surety cash or other collateral acceptable to Surety in an amount determined by Surety, in its sole discretion, to be
sufficient to discharge any claim made against or potential liability of Surety on any Bond or Bonds or under this Agreement. Surety shall not be required to post a reserve prior to or as a condition of Contractors and Indemnitors’ obligation
to deposit collateral. This sum may be used by Surety to pay such claim or be held by Surety as collateral against any loss on any Bond or Bonds or under this Agreement. Any remaining sums deposited with Surety after payment of any and all sums due
to Surety under this Agreement or otherwise shall be returned to Contractors and Indemnitors upon the complete release and/or discharge of Surety’s obligations and liability under all Bonds. The Surety’s demand for collateral shall be
sufficient if sent by registered or certified mail, by facsimile transmission, or by personal service to Contractors and Indemnitors at the addresses stated herein, or at the address last known to the Surety, regardless of whether actually received.

  

					
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Contractors and Indemnitors acknowledge that the failure of Contractors and/or Indemnitors, collectively or individually, to deposit collateral with the Surety, immediately upon demand, shall
cause irreparable harm to the Surety for which the Surety has no adequate remedy at law. Contractors and Indemnitors agree that the Surety shall be entitled to injunctive relief for specific performance of the obligation to deposit with the Surety
the sum demanded as collateral and waive any claims or defenses to the contrary. 
 TWENTY-THIRD: Change in Control or
Condition: In the event any Change in Control and/or Change in Condition (both as defined in this paragraph) of any Contractor or Indemnitor occurs without the prior written consent of the Surety, then Contractors and Indemnitors will be deemed to
be in default under the terms of this Agreement and the Surety will have the right to exercise all of its rights and remedies under this Agreement, at law, or in equity. 
 TWENTY-FOURTH: Joint and Several. The agreements and covenants herein contained shall be binding upon the undersigned, both jointly and severally, and upon their successors and assigns jointly and
severally (including successors by way of merger, acquisition or similar event). 
 TWENTY-FIFTH: Contractors and Indemnitors
release, discharge, and waive any and all claims, demands or causes of action arising from or relating to Surety’s exercise of its rights and remedies pursuant to this Agreement. If Surety demands that Indemnitors perform any obligation under
this Agreement including, but not limited to, Contractors’ and/or Indemnitors’ obligation to indemnify or reimburse Surety, to deposit collateral with Surety or to obtain the discharge of Surety under any Bond or Bonds, Contractors’
and Indemnitors’ sole remedy against Surety shall be limited to and capped at the return of any payments made or collateral deposited with Surety pursuant to Surety’s request or demands. Contractors and Indemnitors expressly waive any
claim against Surety for consequential damages, extra-contractual damages and/or attorneys’ fees. 
 TWENTY-SIXTH: This
Agreement may be executed in any number of counterparts with separate signature pages, all of which taken together shall constitute the Agreement, and any of the parties hereto may execute this Agreement by signing any such counterpart. This
Agreement shall be effective as to each Contractor and Indemnitor when each Contractor and/or Indemnitor has executed it. Contractors and Indemnitors hereby acknowledge that the failure of any one of them to execute this Agreement shall not in any
way affect the validity or enforceability of this Agreement as to those Contractors and Indemnitors who have executed the Agreement. 
 TWENTY-SEVENTH: Applicable Law. The terms and conditions of this Agreement shall be construed under the laws of New York without regard to its conflicts of laws principles. 

DEFINITIONS 
 When the following terms are used in this General Agreement of Indemnity (this “Agreement”) they shall have the following meanings: 

“Affiliate” means, with respect to any Person, any other Person or group acting in concert with such Person that,
directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under the common control with such Person. For purposes of this definition, “control” (including, with correlative meanings, the terms
“controlled by” and “under common control with”), as used with respect to any Person or group of Persons, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of management and policies
of such Person, whether through the ownership of voting securities or by contract or otherwise. 
 “Bond” means
a bond, undertaking, and/or obligation of suretyship or guarantee issued by Surety (whether as sole surety or as co-surety or reinsurer) on behalf of any Contractor or issued at the request of GREAT LAKES DREDGE & DOCK CORPORATION or GREAT
LAKES DREDGE & DOCK COMPANY, LLC. in accordance with the terms of this Agreement, whether issued prior to or after the execution of this Agreement. 
 “Change in Control” means the occurrence of any of the following without the Surety’s prior written consent: (a) the sale, lease, transfer, conveyance, merger, consolidation or
other disposition (“transaction”) (whether one transaction or a series of transactions with any person, entity or group) of all or substantially all of the assets of any Contractor or Indemnitor; (b) the consummation of any
transaction (whether one transaction or a series of transactions) the result of which is that any Person becomes the beneficial owner, directly or indirectly, of fifty (50%) percent or more of the voting stock of any Contractor or Indemnitor
(measured by voting power rather than number of shares); (c) the acquisition (in one transaction or a series of transactions) by any Contractor or Indemnitor, directly or indirectly, of fifty (50%) percent or more of the beneficial
ownership or control in any joint venture, subsidiary, division, affiliate, limited partnership, limited liability partnership, limited liability 

  

					
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company or other entity through the issuance of ten (10%) percent or more of the voting power of the total outstanding voting stock of any Contractor or Indemnitor; (d) the adoption of
a plan relating to the liquidation or dissolution of any Contractor or Indemnitor or (e) any financial institution, lender, or creditor taking any foreclosure action with respect to any stock or other equity interest in any Contractor or
Indemnitor, including but not limited to issuing any notice of or intent to foreclose or otherwise exercising any rights that such Person may have to vote, sell, or otherwise exercise any rights with respect to stock or other equity interest in any
Contractor or Indemnitor. 
 "Change in Condition" means any change in the condition (financial or otherwise) of any
Contractor or Indemnitor that, in the opinion of Surety, could have (a) a material adverse effect upon the validity, performance, or enforceability of any provisions of this Agreement or any of the transactions contemplated hereby, without the
Surety’s prior written consent; (b) a material adverse effect upon the properties, business, prospects, or condition (financial or otherwise) of any Contractor or Indemnitor, which will include but not be limited to (i) the issuance
of a "going concern opinion" by the accountants of such Contractor or Indemnitor or (ii) the occurrence of a financial covenant default which occurs under any document relating to financial indebtedness to which any Contractor or Indemnitor is
a party, which default is not timely cured in accordance with the terms of that facility; or (c) a material adverse effect upon the ability of any Contractor or Indemnitor to fulfill any obligation under this Agreement or any of the Bonds.

 “Equipment Utilization Agreement” means the Equipment Utilization Agreement dated September 7, 2011, by
and among the Surety, the Indemnitors and Bank of America, N.A., as Administrative Agent, as the same may be amended, restated, supplemented, modified or replaced from time to time. 

“Event of Default” means: 
  

	 	(1)	any abandonment, forfeiture, termination, default or breach of any contracts referred to in the Bonds or any breach of any Bond; 

 

	 	(2)	receipt by Surety of any claim under any Bond or declaration of default under any Bond; 

 

	 	(3)	the Surety’s establishment of a reserve; 

  

	 	(4)	any breach of the provisions of this Agreement or of the Equipment Utilization Agreement; 

 

	 	(5)	the occurrence of any event of default, however described, which occurs under any document relating to financial indebtedness of any Contractor or Indemnitor, in
consequence of which that financial indebtedness is or becomes capable of being rendered prematurely due and payable; 

  

	 	(6)	any assignment by any Contractor or Indemnitor for the benefit of creditors, or the appointment, or of any application for the appointment, of a receiver or trustee for
any Contractor or Indemnitor, whether insolvent or not; 

  

	 	(7)	any Contractor or Indemnitor becoming a debtor in any bankruptcy proceeding (whether voluntarily or involuntarily); 

 

	 	(8)	any proceeding which deprives any Contractor or Indemnitor and/or Surety of the use of any collateral provided to Surety under this Agreement or of the use of any
equipment provided to Surety under the Equipment Utilization Agreement; 

  

	 	(9)	a Change in Control or a Change in Condition of any Contractor or Indemnitor. 

 “Loss” means all premiums due to Surety and any and all liability, loss, costs, damages, attorneys’ fees and expenses, of whatever kind or nature, whenever sustained or incurred by
Surety by reason, or in consequence of its executing or procuring the execution of any Bond (including any claim for additional or extra-contractual damages arising from Surety’s investigation, payment or denial of any claim under any Bond), in
making any investigation in relation to any Bond, in defending or prosecuting any action, suit or other proceeding which may be brought in connection with any Bond, in enforcing any of the terms of this Agreement or the Equipment Utilization
Agreement, and in obtaining a release from liability under any Bond. Loss includes but is not limited to all amounts paid by Surety for (i) liability, loss, costs, damages, reasonable attorneys’ fees and amounts paid in the investigation,
adjustment, settlement or compromise of any Claim or any lawsuits, arbitrations, judgments and/or decisions on those Claims; (ii) court, mediation or arbitration fees, costs and expenses; (iii) interest; (iv) consulting and expert
fees, and (v) any other liability, loss, cost or expense which Surety may sustain or incur. 

“Subsidiary” means an entity of which a Person has direct or indirect control or owns directly or indirectly more than
fifty (50) per cent of the voting capital or similar rights of ownership 

  

					
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 SIGNATURE PAGE(S) TO FOLLOW 

(The remainder of this page is intentionally left blank) 
 I/WE HAVE CAREFULLY READ THIS AGREEMENT OF INDEMNITY (OF WHICH THIS SIGNATURE PAGE IS A PART) AND FULLY UNDERSTAND MY/OUR OBLIGATIONS AS A CONTRACTOR AND INDEMNITOR HEREUNDER. THERE ARE NO SEPARATE
AGREEMENTS OR UNDERSTANDINGS, EITHER WRITTEN OR ORAL, THAT IN ANY WAY LESSEN OR ALTER MY/OUR OBLIGATIONS AS ABOVE SET FORTH. IN WITNESS WHEREOF I/we have signed and sealed the day and year first above written. 

Sign below if entity is a Corporation, Limited Liability Company, Partnership or Trust: 
 Instructions: If the entity is : 1) a corporation, the secretary and an authorized officer should sign on behalf of the corporation, 2) a limited liability corporation, the manager or member(s) should
sign on behalf of the LLC, 3) a trust, the trustee(s) should sign on behalf of the trust, or 4) a partnership, the partner(s) should sign on behalf of the partnership. Two signatures are required for all entities and all signatures must be notarized
and dated. 
 Each of the undersigned hereby affirms to the Surety that he or she is a secretary or a duly authorized officer, manager,
trustee or official of the business entity for which he or she executes the foregoing Agreement as a Contractor and Indemnitor. In such capacity the undersigned is familiar with all of the documents which establish the rights which govern the
affairs, power and authority of such entity including, to the extent applicable, the (1) certificate or articles of incorporation, (2) bylaws, (3) corporate resolutions, (4) trust agreements and (5) partnership, and
operating or limited liability agreements of such business entity. Having reviewed all such applicable documents and instruments and such other facts as deemed appropriate, the undersigned hereby affirms that such entity has the power and authority
to enter into such Agreement and that he or she is duly authorized to do so. 
  

					
	ATTEST OR WITNESS:	  	        	  	 GREAT LAKES DREDGE & DOCK CORPORATION
 2122 York Road, Suite 200
 Oak Brook, IL 60523

CONTRACTOR AND INDEMNITOR

			
	 /s/ Kathleen M. LaVoy
	  		  	 /s/ Bruce J.
Biemeck                            (SEAL)

	Kathleen M. LaVoy, Secretary	  		  	Bruce J. Biemeck, President

 ACKNOWLEDGEMENT 

STATE OF Illinois            County of Cook 

On this 7th day of September, 2011 before me personally appeared Bruce J. Biemeck known or proven to me to be the President of the entity
executing the foregoing instrument (“Entity”) and Kathleen M. LaVoy known or proven to me to be the Secretary of the Entity and they acknowledge said instrument to be the free and voluntary act and deed of said Entity, for the uses and
purposes therein mentioned and on oath stated that the seal affixed is the seal of said Entity and that it was affixed and that they executed said instrument by authority of the Entity IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
OFFICIAL SEAL the day and year first above written. 
  

	
	
	 Notary Public: Donna Jean Rice

	
	 My Commission Expires: 7-8-2013

	
	 Notary Registration No.: 213938

 (The remainder of this page intentionally left blank) 

  

					
	C345 Ed 12 09 modified for GLCC	  	page 7 of 16	  	 

 I/WE HAVE CAREFULLY READ THIS AGREEMENT OF INDEMNITY (OF WHICH THIS SIGNATURE PAGE IS A PART) AND FULLY
UNDERSTAND MY/OUR OBLIGATIONS AS A CONTRACTOR AND INDEMNITOR HEREUNDER. THERE ARE NO SEPARATE AGREEMENTS OR UNDERSTANDINGS, EITHER WRITTEN OR ORAL, THAT IN ANY WAY LESSEN OR ALTER MY/OUR OBLIGATIONS AS ABOVE SET FORTH. IN WITNESS WHEREOF I/we have
signed and sealed the day and year first above written. 
 Sign below if entity is a Corporation, Limited Liability Company, Partnership
or Trust: 
 Instructions: If the entity is : 1) a corporation, the secretary and an authorized officer should sign on behalf of the
corporation, 2) a limited liability corporation, the manager or member(s) should sign on behalf of the LLC, 3) a trust, the trustee(s) should sign on behalf of the trust, or 4) a partnership, the partner(s) should sign on behalf of the partnership.
Two signatures are required for all entities and all signatures must be notarized and dated. 
 Each of the undersigned hereby affirms to the
Surety that he or she is a secretary or a duly authorized officer, manager, trustee or official of the business entity for which he or she executes the foregoing Agreement as a Contractor and Indemnitor. In such capacity the undersigned is familiar
with all of the documents which establish the rights which govern the affairs, power and authority of such entity including, to the extent applicable, the (1) certificate or articles of incorporation, (2) bylaws, (3) corporate
resolutions, (4) trust agreements and (5) partnership, and operating or limited liability agreements of such business entity. Having reviewed all such applicable documents and instruments and such other facts as deemed appropriate, the
undersigned hereby affirms that such entity has the power and authority to enter into such Agreement and that he or she is duly authorized to do so. 
  

					
	ATTEST OR WITNESS:	  		  	 GREAT LAKES DREDGE & DOCK COMPANY, LLC
 2122 York Road, Suite 200
 Oak Brook, IL 60523

CONTRACTOR AND INDEMNITOR

			
	 /s/ Ellen Parker Burke
	  		  	 /s/ Bruce J.
Biemeck                            (SEAL)

	Ellen Parker Burke, Secretary	  		  	Bruce J. Biemeck, President

 ACKNOWLEDGEMENT 

STATE OF Illinois            County of
Cook             
 On this 7th day of September, 2011 before me
personally appeared Bruce J. Biemeckknown or proven to me to be the Presidentof the entity executing the foregoing instrument (“Entity”) and Ellen Parker Burkeknown or proven to me to be the Secretaryof the Entity and they acknowledge said
instrument to be the free and voluntary act and deed of said Entity, for the uses and purposes therein mentioned and on oath stated that the seal affixed is the seal of said Entity and that it was affixed and that they executed said instrument by
authority of the Entity IN WITNESS WHEREOF, I have hereunto set my hand and affixed my OFFICIAL SEAL the day and year first above written. 
  

	
	
	 Notary Public: Donna Jean Rice

	
	 My Commission Expires: 7-8-2013

	
	 Notary Registration No.: 213938

 (The remainder of this page intentionally left blank) 

  

					
	C345 Ed 12 09 modified for GLCC	  	page 8 of 16	  	 

 I/WE HAVE CAREFULLY READ THIS AGREEMENT OF INDEMNITY (OF WHICH THIS SIGNATURE PAGE IS A PART) AND FULLY
UNDERSTAND MY/OUR OBLIGATIONS AS A CONTRACTOR AND INDEMNITOR HEREUNDER. THERE ARE NO SEPARATE AGREEMENTS OR UNDERSTANDINGS, EITHER WRITTEN OR ORAL, THAT IN ANY WAY LESSEN OR ALTER MY/OUR OBLIGATIONS AS ABOVE SET FORTH. IN WITNESS WHEREOF I/we have
signed and sealed the day and year first above written. 
 Sign below if entity is a Corporation, Limited Liability Company, Partnership
or Trust: 
 Instructions: If the entity is : 1) a corporation, the secretary and an authorized officer should sign on behalf of the
corporation, 2) a limited liability corporation, the manager or member(s) should sign on behalf of the LLC, 3) a trust, the trustee(s) should sign on behalf of the trust, or 4) a partnership, the partner(s) should sign on behalf of the partnership.
Two signatures are required for all entities and all signatures must be notarized and dated. 
 Each of the undersigned hereby affirms to the
Surety that he or she is a secretary or a duly authorized officer, manager, trustee or official of the business entity for which he or she executes the foregoing Agreement as a Contractor and Indemnitor. In such capacity the undersigned is familiar
with all of the documents which establish the rights which govern the affairs, power and authority of such entity including, to the extent applicable, the (1) certificate or articles of incorporation, (2) bylaws, (3) corporate
resolutions, (4) trust agreements and (5) partnership, and operating or limited liability agreements of such business entity. Having reviewed all such applicable documents and instruments and such other facts as deemed appropriate, the
undersigned hereby affirms that such entity has the power and authority to enter into such Agreement and that he or she is duly authorized to do so. 
  

					
	ATTEST OR WITNESS:	  		  	 LYDON DREDGING & CONSTRUCTION COMPANY, LTD.
 2122 York Road, Suite 200
 Oak Brook, IL 60523

CONTRACTOR AND INDEMNITOR

			
	 /s/ Ellen Parker Burke
	  		  	 /s/ Jonathan W.
Berger                            (SEAL)

	Ellen Parker Burke, Secretary	  		  	Jonathan W. Berger, President

 ACKNOWLEDGEMENT 

STATE OF Illinois            County of
Cook             
 On this 7th day of September, 2011 before me
personally appeared Jonathan W. Berger known or proven to me to be the President of the entity executing the foregoing instrument (“Entity”) and Ellen Parker Burke known or proven to me to be the Secretary of the Entity and they
acknowledge said instrument to be the free and voluntary act and deed of said Entity, for the uses and purposes therein mentioned and on oath stated that the seal affixed is the seal of said Entity and that it was affixed and that they executed said
instrument by authority of the Entity IN WITNESS WHEREOF, I have hereunto set my hand and affixed my OFFICIAL SEAL the day and year first above written. 

 

	
	
	 Notary Public: Donna Jean Rice

	
	 My Commission Expires: 7-8-2013            

	
	 Notary Registration No.: 213938            

 (The remainder of this page intentionally left blank) 

  

					
	C345 Ed 12 09 modified for GLCC	  	page 9 of 16	  	 

 I/WE HAVE CAREFULLY READ THIS AGREEMENT OF INDEMNITY (OF WHICH THIS SIGNATURE PAGE IS A PART) AND FULLY
UNDERSTAND MY/OUR OBLIGATIONS AS A CONTRACTOR AND INDEMNITOR HEREUNDER. THERE ARE NO SEPARATE AGREEMENTS OR UNDERSTANDINGS, EITHER WRITTEN OR ORAL, THAT IN ANY WAY LESSEN OR ALTER MY/OUR OBLIGATIONS AS ABOVE SET FORTH. IN WITNESS WHEREOF I/we have
signed and sealed the day and year first above written. 
 Sign below if entity is a Corporation, Limited Liability Company, Partnership
or Trust: 
 Instructions: If the entity is : 1) a corporation, the secretary and an authorized officer should sign on behalf of the
corporation, 2) a limited liability corporation, the manager or member(s) should sign on behalf of the LLC, 3) a trust, the trustee(s) should sign on behalf of the trust, or 4) a partnership, the partner(s) should sign on behalf of the partnership.
Two signatures are required for all entities and all signatures must be notarized and dated. 
 Each of the undersigned hereby affirms to the
Surety that he or she is a secretary or a duly authorized officer, manager, trustee or official of the business entity for which he or she executes the foregoing Agreement as a Contractor and Indemnitor. In such capacity the undersigned is familiar
with all of the documents which establish the rights which govern the affairs, power and authority of such entity including, to the extent applicable, the (1) certificate or articles of incorporation, (2) bylaws, (3) corporate
resolutions, (4) trust agreements and (5) partnership, and operating or limited liability agreements of such business entity. Having reviewed all such applicable documents and instruments and such other facts as deemed appropriate, the
undersigned hereby affirms that such entity has the power and authority to enter into such Agreement and that he or she is duly authorized to do so. 
  

					
	ATTEST OR WITNESS:	 		  	 FIFTY-THREE DREDGING CORPORATION
 2122 York Road, Suite 200
 Oak Brook, IL 60523

CONTRACTOR AND INDEMNITOR

			
	 /s/ Susan M. Williams
	 		  	
/s/ Paul E. Dinquel              
                                      
(SEAL)

	Susan M. Williams, Secretary	 		  	Paul E. Dinquel, Vice President

 ACKNOWLEDGEMENT 

STATE OF Illinois            County of Cook 

On this 7th day of September, 2011before me personally appeared Paul E. Dinquel known or proven to me to be the Vice President of the entity
executing the foregoing instrument (“Entity”) and Susan M. Williamsknown or proven to me to be the Secretary of the Entity and they acknowledge said instrument to be the free and voluntary act and deed of said Entity, for the uses and
purposes therein mentioned and on oath stated that the seal affixed is the seal of said Entity and that it was affixed and that they executed said instrument by authority of the Entity IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
OFFICIAL SEAL the day and year first above written. 
  

	
	
	Notary Public: Donna Jean Rice
	
	My Commission Expires: 7-8-2013
	
	Notary Registration No.: 213938

 (The remainder of this page intentionally left blank) 

  

					
	C345 Ed 12 09 modified for GLCC	  	page 10 of 16	  	 

 I/WE HAVE CAREFULLY READ THIS AGREEMENT OF INDEMNITY (OF WHICH THIS SIGNATURE PAGE IS A PART) AND FULLY
UNDERSTAND MY/OUR OBLIGATIONS AS A CONTRACTOR AND INDEMNITOR HEREUNDER. THERE ARE NO SEPARATE AGREEMENTS OR UNDERSTANDINGS, EITHER WRITTEN OR ORAL, THAT IN ANY WAY LESSEN OR ALTER MY/OUR OBLIGATIONS AS ABOVE SET FORTH. IN WITNESS WHEREOF I/we have
signed and sealed the day and year first above written. 
 Sign below if entity is a Corporation, Limited Liability Company, Partnership
or Trust: 
 Instructions: If the entity is : 1) a corporation, the secretary and an authorized officer should sign on behalf of the
corporation, 2) a limited liability corporation, the manager or member(s) should sign on behalf of the LLC, 3) a trust, the trustee(s) should sign on behalf of the trust, or 4) a partnership, the partner(s) should sign on behalf of the partnership.
Two signatures are required for all entities and all signatures must be notarized and dated. 
 Each of the undersigned hereby affirms to the
Surety that he or she is a secretary or a duly authorized officer, manager, trustee or official of the business entity for which he or she executes the foregoing Agreement as a Contractor and Indemnitor. In such capacity the undersigned is familiar
with all of the documents which establish the rights which govern the affairs, power and authority of such entity including, to the extent applicable, the (1) certificate or articles of incorporation, (2) bylaws, (3) corporate
resolutions, (4) trust agreements and (5) partnership, and operating or limited liability agreements of such business entity. Having reviewed all such applicable documents and instruments and such other facts as deemed appropriate, the
undersigned hereby affirms that such entity has the power and authority to enter into such Agreement and that he or she is duly authorized to do so. 
  

					
	ATTEST OR WITNESS:	 	 	  	 DAWSON MARINE SERVICES COMPANY

2122 York Road, Suite 200
 Oak Brook, IL
60523
 CONTRACTOR AND INDEMNITOR

			
	 /s/ Giovanna O’Malley
	 		  	 /s/ Catherine
Hoffman                            (SEAL)

	Giovanna O’Malley, Secretary	 		  	Catherine Hoffman, President

 ACKNOWLEDGEMENT 

STATE OF Illinois             County of Cook 

On this 7th day of September, 2011 before me personally appeared Catherine Hoffman known or proven to me to be the President of the entity
executing the foregoing instrument (“Entity”) and Giovanna O’Malleyknown or proven to me to be the Secretary of the Entity and they acknowledge said instrument to be the free and voluntary act and deed of said Entity, for the uses and
purposes therein mentioned and on oath stated that the seal affixed is the seal of said Entity and that it was affixed and that they executed said instrument by authority of the Entity IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
OFFICIAL SEAL the day and year first above written. 
  

	
	
	Notary Public: Donna Jean Rice
	
	My Commission Expires: 7-8-2013
	
	Notary Registration No.: 213938

 (The remainder of this page intentionally left blank) 

 

  

					
	C345 Ed 12 09 modified for GLCC	  	page 11 of 16	  	 

 I/WE HAVE CAREFULLY READ THIS AGREEMENT OF INDEMNITY (OF WHICH THIS SIGNATURE PAGE IS A PART) AND FULLY
UNDERSTAND MY/OUR OBLIGATIONS AS A CONTRACTOR AND INDEMNITOR HEREUNDER. THERE ARE NO SEPARATE AGREEMENTS OR UNDERSTANDINGS, EITHER WRITTEN OR ORAL, THAT IN ANY WAY LESSEN OR ALTER MY/OUR OBLIGATIONS AS ABOVE SET FORTH. IN WITNESS WHEREOF I/we have
signed and sealed the day and year first above written. 
 Sign below if entity is a Corporation, Limited Liability Company, Partnership
or Trust: 
 Instructions: If the entity is : 1) a corporation, the secretary and an authorized officer should sign on behalf of the
corporation, 2) a limited liability corporation, the manager or member(s) should sign on behalf of the LLC, 3) a trust, the trustee(s) should sign on behalf of the trust, or 4) a partnership, the partner(s) should sign on behalf of the partnership.
Two signatures are required for all entities and all signatures must be notarized and dated. 
 Each of the undersigned hereby affirms to the
Surety that he or she is a secretary or a duly authorized officer, manager, trustee or official of the business entity for which he or she executes the foregoing Agreement as a Contractor and Indemnitor. In such capacity the undersigned is familiar
with all of the documents which establish the rights which govern the affairs, power and authority of such entity including, to the extent applicable, the (1) certificate or articles of incorporation, (2) bylaws, (3) corporate
resolutions, (4) trust agreements and (5) partnership, and operating or limited liability agreements of such business entity. Having reviewed all such applicable documents and instruments and such other facts as deemed appropriate, the
undersigned hereby affirms that such entity has the power and authority to enter into such Agreement and that he or she is duly authorized to do so. 
  

					
	ATTEST OR WITNESS:	 	 	  	 GREAT LAKES DREDGE & DOCK ENVIRONMENTAL,
INC. f/k/a GREAT LAKES CARIBBEAN DREDGING, INC.

2122 York Road, Suite 200
 Oak Brook, IL
60523
 CONTRACTOR AND INDEMNITOR

			
	 /s/ Ellen Parker Burke
	 		  	 /s/ Jonathan W.
Berger                            (SEAL)

	Ellen Parker Burke, Secretary	 		  	Jonathan W. Berger, President

 ACKNOWLEDGEMENT 

STATE OF Illinois             County of Cook 

On this 7th day of September, 2011 before me personally appeared Jonathan W. Berger known or proven to me to be the President of the entity
executing the foregoing instrument (“Entity”) and Ellen Parker Burke known or proven to me to be the Secretary of the Entity and they acknowledge said instrument to be the free and voluntary act and deed of said Entity, for the uses and
purposes therein mentioned and on oath stated that the seal affixed is the seal of said Entity and that it was affixed and that they executed said instrument by authority of the Entity IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
OFFICIAL SEAL the day and year first above written. 
  

					
	 	 	 	 	Notary Public: Donna Jean Rice
			
		 		 	My Commission Expires: 7-8-2013
			
		 		 	Notary Registration No.: 213938

 (The remainder of this page intentionally left blank) 

 

  

					
	C345 Ed 12 09 modified for GLCC	  	page 12 of 16	  	 

 I/WE HAVE CAREFULLY READ THIS AGREEMENT OF INDEMNITY (OF WHICH THIS SIGNATURE PAGE IS A PART) AND FULLY
UNDERSTAND MY/OUR OBLIGATIONS AS A CONTRACTOR AND INDEMNITOR HEREUNDER. THERE ARE NO SEPARATE AGREEMENTS OR UNDERSTANDINGS, EITHER WRITTEN OR ORAL, THAT IN ANY WAY LESSEN OR ALTER MY/OUR OBLIGATIONS AS ABOVE SET FORTH. IN WITNESS WHEREOF I/we have
signed and sealed the day and year first above written. 
 Sign below if entity is a Corporation, Limited Liability Company, Partnership
or Trust: 
 Instructions: If the entity is : 1) a corporation, the secretary and an authorized officer should sign on behalf of the
corporation, 2) a limited liability corporation, the manager or member(s) should sign on behalf of the LLC, 3) a trust, the trustee(s) should sign on behalf of the trust, or 4) a partnership, the partner(s) should sign on behalf of the partnership.
Two signatures are required for all entities and all signatures must be notarized and dated. 
 Each of the undersigned hereby affirms to the
Surety that he or she is a secretary or a duly authorized officer, manager, trustee or official of the business entity for which he or she executes the foregoing Agreement as a Contractor and Indemnitor. In such capacity the undersigned is familiar
with all of the documents which establish the rights which govern the affairs, power and authority of such entity including, to the extent applicable, the (1) certificate or articles of incorporation, (2) bylaws, (3) corporate
resolutions, (4) trust agreements and (5) partnership, and operating or limited liability agreements of such business entity. Having reviewed all such applicable documents and instruments and such other facts as deemed appropriate, the
undersigned hereby affirms that such entity has the power and authority to enter into such Agreement and that he or she is duly authorized to do so. 
  

					
	ATTEST OR WITNESS:	 		  	 NASDI, LLC
 2122 York Road,
Suite 200
 Oak Brook, IL 60523

		 		  	CONTRACTOR AND INDEMNITOR
			
	 /s/ Ellen Parker Burke
	 		  	 /s/ Jonathan W.
Berger                                        
    (SEAL)

	Ellen Parker Burke, Assistant Secretary	 		  	Jonathan W. Berger, Chief Executive Officer

 ACKNOWLEDGEMENT 

STATE OF Illinois            County of
Cook             
 On this 7th day of September, 2011 before me
personally appeared Jonathan W. Berger known or proven to me to be the Chief Executive Officer of the entity executing the foregoing instrument (“Entity”) and Ellen Parker Burke known or proven to me to be the Assistant Secretary of the
Entity and they acknowledge said instrument to be the free and voluntary act and deed of said Entity, for the uses and purposes therein mentioned and on oath stated that the seal affixed is the seal of said Entity and that it was affixed and that
they executed said instrument by authority of the Entity IN WITNESS WHEREOF, I have hereunto set my hand and affixed my OFFICIAL SEAL the day and year first above written. 

 

	
	
	 Notary Public: Donna Jean Rice

	
	 My Commission Expires: 7-8-2013

	
	 Notary Registration No.: 213938

 (The remainder of this page intentionally left blank) 

  

					
	C345 Ed 12 09 modified for GLCC	  	page 13 of 16	  	 

 I/WE HAVE CAREFULLY READ THIS AGREEMENT OF INDEMNITY (OF WHICH THIS SIGNATURE PAGE IS A PART) AND FULLY
UNDERSTAND MY/OUR OBLIGATIONS AS A CONTRACTOR AND INDEMNITOR HEREUNDER. THERE ARE NO SEPARATE AGREEMENTS OR UNDERSTANDINGS, EITHER WRITTEN OR ORAL, THAT IN ANY WAY LESSEN OR ALTER MY/OUR OBLIGATIONS AS ABOVE SET FORTH. IN WITNESS WHEREOF I/we have
signed and sealed the day and year first above written. 
 Sign below if entity is a Corporation, Limited Liability Company, Partnership
or Trust: 
 Instructions: If the entity is : 1) a corporation, the secretary and an authorized officer should sign on behalf of the
corporation, 2) a limited liability corporation, the manager or member(s) should sign on behalf of the LLC, 3) a trust, the trustee(s) should sign on behalf of the trust, or 4) a partnership, the partner(s) should sign on behalf of the partnership.
Two signatures are required for all entities and all signatures must be notarized and dated. 
 Each of the undersigned hereby affirms to the
Surety that he or she is a secretary or a duly authorized officer, manager, trustee or official of the business entity for which he or she executes the foregoing Agreement as a Contractor and Indemnitor. In such capacity the undersigned is familiar
with all of the documents which establish the rights which govern the affairs, power and authority of such entity including, to the extent applicable, the (1) certificate or articles of incorporation, (2) bylaws, (3) corporate
resolutions, (4) trust agreements and (5) partnership, and operating or limited liability agreements of such business entity. Having reviewed all such applicable documents and instruments and such other facts as deemed appropriate, the
undersigned hereby affirms that such entity has the power and authority to enter into such Agreement and that he or she is duly authorized to do so. 
  

					
	ATTEST OR WITNESS:	 	 	  	 NASDI HOLDINGS CORPORATION

2122 York Road, Suite 200
 Oak Brook, IL
60523
 CONTRACTOR AND INDEMNITOR

			
	 /s/ Ellen Parker Burke
	 		  	 /s/ Jonathan W.
Berger                            (SEAL)

	Ellen Parker Burke, Secretary	 		  	Jonathan W. Berger, Chief Executive Officer

 ACKNOWLEDGEMENT 

STATE OF Illinois             County of Cook 

On this 7th day of September, 2011before me personally appeared Jonathan W. Berger known or proven to me to be the Chief Executive Officer
of the entity executing the foregoing instrument (“Entity”) and Ellen Parker Burkeknown or proven to me to be the Secretary of the Entity and they acknowledge said instrument to be the free and voluntary act and deed of said Entity, for
the uses and purposes therein mentioned and on oath stated that the seal affixed is the seal of said Entity and that it was affixed and that they executed said instrument by authority of the Entity IN WITNESS WHEREOF, I have hereunto set my hand and
affixed my OFFICIAL SEAL the day and year first above written. 
  

					
	 	 	 	 	Notary Public: Donna Jean Rice
			
		 		 	My Commission Expires: 7-8-2013
			
		 		 	Notary Registration No.: 213938

 (The remainder of this page intentionally left blank) 

 

  

					
	C345 Ed 12 09 modified for GLCC	  	page 14 of 16	  	 

 I/WE HAVE CAREFULLY READ THIS AGREEMENT OF INDEMNITY (OF WHICH THIS SIGNATURE PAGE IS A PART) AND FULLY
UNDERSTAND MY/OUR OBLIGATIONS AS A CONTRACTOR AND INDEMNITOR HEREUNDER. THERE ARE NO SEPARATE AGREEMENTS OR UNDERSTANDINGS, EITHER WRITTEN OR ORAL, THAT IN ANY WAY LESSEN OR ALTER MY/OUR OBLIGATIONS AS ABOVE SET FORTH. IN WITNESS WHEREOF I/we have
signed and sealed the day and year first above written. 
 Sign below if entity is a Corporation, Limited Liability Company, Partnership
or Trust: 
 Instructions: If the entity is : 1) a corporation, the secretary and an authorized officer should sign on behalf of the
corporation, 2) a limited liability corporation, the manager or member(s) should sign on behalf of the LLC, 3) a trust, the trustee(s) should sign on behalf of the trust, or 4) a partnership, the partner(s) should sign on behalf of the partnership.
Two signatures are required for all entities and all signatures must be notarized and dated. 
 Each of the undersigned hereby affirms to the
Surety that he or she is a secretary or a duly authorized officer, manager, trustee or official of the business entity for which he or she executes the foregoing Agreement as a Contractor and Indemnitor. In such capacity the undersigned is familiar
with all of the documents which establish the rights which govern the affairs, power and authority of such entity including, to the extent applicable, the (1) certificate or articles of incorporation, (2) bylaws, (3) corporate
resolutions, (4) trust agreements and (5) partnership, and operating or limited liability agreements of such business entity. Having reviewed all such applicable documents and instruments and such other facts as deemed appropriate, the
undersigned hereby affirms that such entity has the power and authority to enter into such Agreement and that he or she is duly authorized to do so. 
  

					
	 ATTEST OR WITNESS:
	 		  	 YANKEE ENVIRONMENTAL SERVICES, LLC
 2122 York Road, Suite 200
 Oak Brook, IL 60523

		 		  	CONTRACTOR AND INDEMNITOR
			
	 /s/ Katherine M. Hayes
	 		  	 /s/ Jonathan W.
Berger                    (SEAL)

	Katherine M. Hayes, Treasurer	 		  	Jonathan W. Berger, Chief Executive Officer

 ACKNOWLEDGEMENT 

STATE OF Illinois            County of Cook 

On this 7th day of September, 2011 before me personally appeared Jonathan W. Berger known or proven to me to be the Chief Executive Officer
of the entity executing the foregoing instrument (“Entity”) and Katherine M. Hayes known or proven to me to be the Treasurer of the Entity and they acknowledge said instrument to be the free and voluntary act and deed of said Entity, for
the uses and purposes therein mentioned and on oath stated that the seal affixed is the seal of said Entity and that it was affixed and that they executed said instrument by authority of the Entity IN WITNESS WHEREOF, I have hereunto set my hand and
affixed my OFFICIAL SEAL the day and year first above written. 
  

	
	 Notary Public: Donna Jean Rice

	 My Commission Expires: 7-8-2013

	 Notary Registration No.: 213938

 (The remainder of this page intentionally left blank) 

  

					
	C345 Ed 12 09 modified for GLCC	  	page 15 of 16	  	 

 I/WE HAVE CAREFULLY READ THIS AGREEMENT OF INDEMNITY (OF WHICH THIS SIGNATURE PAGE IS A PART) AND FULLY
UNDERSTAND MY/OUR OBLIGATIONS AS A CONTRACTOR AND INDEMNITOR HEREUNDER. THERE ARE NO SEPARATE AGREEMENTS OR UNDERSTANDINGS, EITHER WRITTEN OR ORAL, THAT IN ANY WAY LESSEN OR ALTER MY/OUR OBLIGATIONS AS ABOVE SET FORTH. IN WITNESS WHEREOF I/we have
signed and sealed the day and year first above written. 
 Sign below if entity is a Corporation, Limited Liability Company, Partnership
or Trust: 
 Instructions: If the entity is : 1) a corporation, the secretary and an authorized officer should sign on behalf of the
corporation, 2) a limited liability corporation, the manager or member(s) should sign on behalf of the LLC, 3) a trust, the trustee(s) should sign on behalf of the trust, or 4) a partnership, the partner(s) should sign on behalf of the partnership.
Two signatures are required for all entities and all signatures must be notarized and dated. 
 Each of the undersigned hereby affirms to the
Surety that he or she is a secretary or a duly authorized officer, manager, trustee or official of the business entity for which he or she executes the foregoing Agreement as a Contractor and Indemnitor. In such capacity the undersigned is familiar
with all of the documents which establish the rights which govern the affairs, power and authority of such entity including, to the extent applicable, the (1) certificate or articles of incorporation, (2) bylaws, (3) corporate
resolutions, (4) trust agreements and (5) partnership, and operating or limited liability agreements of such business entity. Having reviewed all such applicable documents and instruments and such other facts as deemed appropriate, the
undersigned hereby affirms that such entity has the power and authority to enter into such Agreement and that he or she is duly authorized to do so. 
  

					
	ATTEST OR WITNESS:	  		  	 GREAT LAKES DREDGE & DOCK (BAHAMAS) LTD.
 2122 York Road, Suite 200
 Oak Brook, IL 60523

CONTRACTOR AND INDEMNITOR

			
	 /s/ Ellen Parker Burke
	  		  	 /s/ Jonathan W.
Berger                            (SEAL)

	Ellen Parker Burke, Secretary	  		  	Jonathan W. Berger, President

 ACKNOWLEDGEMENT 

STATE OF Illinois            County of Cook 

On this 7th day of September, 2011before me personally appeared Jonathan W. Berger known or proven to me to be the President of the entity
executing the foregoing instrument (“Entity”) and Ellen Parker Burke known or proven to me to be the Secretary of the Entity and they acknowledge said instrument to be the free and voluntary act and deed of said Entity, for the uses and
purposes therein mentioned and on oath stated that the seal affixed is the seal of said Entity and that it was affixed and that they executed said instrument by authority of the Entity IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
OFFICIAL SEAL the day and year first above written. 
  

	
	
	Notary Public: Donna Jean Rice
	
	My Commission Expires: 7-8-2013            
	
	Notary Registration No.: 213938            

 (The remainder of this page intentionally left blank)EX-10.43

 Exhibit 10.43 

 
 

 
 August 9, 2012 
 Bill Steckel 
 4025 Solitude Court 
 Westfield, IN 46062 
 Dear Bill, 
 This letter confirms our recent discussions regarding your employment with Great Lakes Dredge & Dock Company, LLC (GLDD). Listed below are the particular terms of this offer: 

 

			
	 Position:
	  	Senior Vice President & Chief Financial Officer
		
	 Report to:
	  	Bruce Biemeck – President and COO through December 31, 2012 Jon Berger – CEO, effective January 1, 2013
		
	 Start Date:
	  	To be determined
		
	 Base Salary:
	  	Great Lakes Dredge and Dock Company will pay you an annual salary of $300,000 to be paid on GLDD’s regular paydays in accordance with its practices regarding payment of
personnel.
		
	 Cash Bonus:
	  	You are eligible to participate in the Annual Cash Bonus Plan or similar or successor plans as the Company may establish. Your target bonus is 40% of your base salary based upon
a full year’s participation. Bonuses are determined based on company performance and individual performance, and are at management’s discretion. Bonuses are paid in March of the subsequent year. The earned bonus for 2012 will be
prorated.
		
	 Equity:
	  	You are eligible to participate in any equity based compensation plans established or maintained by the company per the terms of the plan then in effect including the
Company’s 2007 Long-Term Incentive Plan and any successor thereto. The value of granted equity awards is targeted at 40% of your base salary.
		
	 Performance Reviews:
	  	A personal performance and salary review will be completed near the end of each year. Salary increases resulting from these processes are largely based on your yearly Personal
Performance Review and the company’s overall performance / profitability.
		
	 Relocation:
	  	The following relocation assistance will be provided:
		
		  	 •    Reasonable house hunting trips with spouse.

		
		  	 •    Reimbursement of reasonable and customary legal and closing costs incurred in the sale of your
present home and the purchase of a new home. The company will not pay for loan origination fees, points or up front costs which are viewed as a mechanism to secure below market
financing.

			
		
		  	 •    Normal commission fees of an established realtor used for the sale of your
house.

		
		  	 •    Household goods shipment.

		
		  	 •    Tax assistance (gross up for reimbursed expenses subject to income tax).

		
		  	 •    Temporary living expenses as approved in advance by the President.

		
		  	 •    One month salary for incidental moving expenses.

		
	 Benefits:
	  	Effective on the first day of your employment, you will be eligible to participate in our Cigna OAP medical & dental plan. You will also have the opportunity to participate
in the GLDD 401(k) plan that matches your contributions dollar for dollar up to 6% of your salary, as well as a profit sharing plan. The profit sharing award can range from 0 to 10% of base salary dependent upon the company’s performance and
profitability throughout the calendar year and is deposited into your 401(k) account. The profit sharing payout has been at or exceeded 7% the last five years. The profit sharing portion of the plan has a three year vesting schedule. Please see the
attached document for a summary of our benefits. Should you have any questions about our benefits please feel free to contact Maureen Kinn, Benefits & Payroll Manager, at 630-574-3454.
		
	 Vacation:
	  	You will be eligible for fifteen (15) days of vacation annually. After five years of continuous employment, you will earn twenty-two (22) days of paid vacation per
year.
		
	 Holidays:
	  	Great Lakes Dredge and Dock Company recognizes eight (8) holidays. Those holidays are New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Day after
Thanksgiving, Christmas Eve & Christmas Day. In addition, salaried employees on the payroll on January
1st shall be entitled to Two (2) floating holidays to be
taken within the calendar year and subject to the approval of the employee’s supervisor. Salaried employees hired subsequent to January 1st and prior to July 1st shall be entitled to One (1) Floating Holiday.
		
	 Conditions:
	  	This is a pre-employment offer and is contingent on the successful completion of a reference and background check. We must also be able to confirm your eligibility for employment
in the US under the Immigration Reform and Control Act. On your first day of employment, please bring appropriate documentation for the completion of the I-9 Form. You must have at least one document from list A or one document from list B and C.
Attached is a list of acceptable documents for I-9 purposes.

 Please be advised that GLDD is an at-will company and your acceptance of this offer by no means constitutes a contract
between GLDD and you. Please also treat this offer as “Company Proprietary”. 

 We are very excited about you joining the company. I feel confident that you will find your career with
Great Lakes Dredge & Dock Company both challenging and rewarding. Should you require any additional information please contact me at (630)574-2948. 
 Please confirm receipt of this offer at your earliest convenience. It is requested that you consider this offer carefully and, regardless of your decision, please sign and return a copy of this letter as
soon as possible. 
 Sincerely, 
 /s/
Bruce J. Biemeck 
 Bruce J. Biemeck 

President and CFO 
 Great Lakes Dredge and Dock
Company, LLC 
  

			
	                    ACCEPT	  	DECLINE
		
	William S. Steckel	  	
	        Printed Name	  	Printed Name
		
	/s/ William S. Steckel	  	
	          Signature	  	Signature
		
	8/16/12	  	
	            Date	  	Date

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00215-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00215-of-00352.parquet"}]]