Document:

<PAGE>

                                                                    Exhibit 10.4

                                                                  EXECUTION COPY

                           AMENDMENT NO. 4 AND CONSENT

      Amendment No. 4 dated as of March 8, 2001 (this "AMENDMENT") among Radio
Unica Corp., a Delaware corporation (the "BORROWER"), Radio Unica Communications
Corp., a Delaware corporation (the "PARENT") formerly known as Radio Unica
Holdings Corp., the several banks and other financial institutions (the
"LENDERS") from time to time parties to the Credit Agreement (as defined below),
and Canadian Imperial Bank of Commerce, as issuer of certain letters of credit
(the "ISSUE") and as agent for the Lenders thereunder (in such capacity, the
"AGENT").

                                   W I T N E S S E T H

      WHEREAS, the Borrower, the Parent, the Lenders, the Agent and the Issuer
are parties to the Credit Agreement dated as of July 8, 1998 (such agreement, as
amended by Amendment No. 1, dated as of October 15, 1999, Amendment No. 2, dated
as of February 22, 2000, and as further amended by Amendment No. 3, dated as of
June 30, 2000, the "CREDIT AGREEMENT"; terms defined in the Credit Agreement are
used herein as defined therein);

      WHEREAS, the Borrower has requested that certain amendments be made to the
Credit Agreement;

      WHEREAS, the parties desire to amend the Credit Agreement;

      NOW, THEREFORE, in consideration of the premises contained herein and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto intending to be legally bound do hereby
agree as follows:

      1. AMENDMENTS. The Credit Agreement is hereby amended as of the date
hereof as follows:

      (a) AMENDMENT TO SECTION 2.17(A). SECTION 2.17(a) of the Credit Agreement
is hereby deleted in its entirety and the following inserted in its place:

            (a) Subject to the terms and conditions hereof, and in reliance on
      the agreements set forth in clauses (c) and (e) hereof, from time to time,
      on any Business Day, the Issuer agrees to issue Letters of Credit for the
      account of the Borrower in such form as may be approved from time to time
      by the Issuer; PROVIDED that (i) the sum of the aggregate face amount of
      all Letters of Credit outstanding and the aggregate amount drawn under all
      Letters of Credit for which the Issuer has not been reimbursed at any time
      shall not exceed $3,645,000 and (ii) the sum of the Loans, the aggregate
      face amount of all Letters of Credit outstanding and the aggregate amount
      drawn under all Letters of Credit for which the Issuer has not been
      reimbursed shall not, at any time, exceed the Commitment.

<PAGE>

      2. REPRESENTATIONS AND WARRANTIES OF THE PARENT AND THE BORROWER. Each of
the Parent and the Borrower represents and warrants that, as of the date hereof
after giving effect to this Amendment, all the representations and warranties of
the Parent, the Borrower and each Loan Party in or pursuant to any Loan Document
shall be true and correct in all material respects on and as of such date as if
made on and as of such date.

      3. AVAILABILITY. Commencing on the date hereof and until such date as the
Parent and the Borrower shall have delivered to the Agent an operating budget
and a cash flow budget for the fiscal year ending December 31, 2001, acceptable
in form and substance to the Agent, the Available Commitment for each Lender
(after giving effect to the issuance of the Letter of Credit occurring
concurrently herewith) shall be zero.

      4. CONDITIONS TO EFFECTIVENESS. This Amendment shall be effective when the
following conditions precedent shall have been satisfied:

     (a) the Agent shall have received:

         (i)   counterparts hereof executed by duly authorized officers of the
      Borrower, the Parent and by duly authorized signatories of the Lenders;

         (ii)  a consent from each Guarantor not a party hereto in the form
      attached as EXHIBIT A; and

         (iii) such other documents and certificates as the Agent may
      request; and

      (b) all fees and expenses due and owing to the Agent or any Lender
(including, without limitation, any reasonable fees and expenses of counsel to
the Agent) shall have been paid.

      5. REFERENCE TO AND EFFECT IN THE LOAN DOCUMENTS. (a) Upon the Effective
Date, each reference in the Credit Agreement to "this Agreement", "hereunder",
"hereof' or words of like import referring to the Credit Agreement, and each
reference in the other Loan Documents to "the Credit Agreement", "thereunder",
"thereof' or words of like import referring to the Credit Agreement, shall mean
and be a reference to the Credit Agreement as amended hereby.

      (b) Except as specifically amended above, the Credit Agreement and all
other Loan Documents are and shall continue to be in full force and effect and
are hereby in all respects ratified and confirmed. Without limiting the
generality of the foregoing, the Loan Documents and all the Collateral described
therein do and shall continue to secure the payment of all obligations of the
Borrower under the Credit Agreement, the Notes and the other Loan Documents, in
each case as amended hereby.

      (c) The execution, delivery and effectiveness of this Amendment shall not,
except as expressly provided herein, operate as a waiver of any right, power or
remedy of any Lender or the Agent under any of the Loan Documents, nor
constitute a waiver of any provision of any of the Loan Documents.

                                       2

<PAGE>

      6. EXECUTION IN COUNTERPARTS. This Amendment may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each
of which when so executed and delivered shall be deemed to be an original and
all of which taken together shall constitute but one and the same agreement.

      7. GOVERNING LAW This Amendment shall be governed by, and construed in
accordance with, the laws of the State of New York.

            [NO ADDITIONAL TEXT ON THIS PAGE; SIGNATURE PAGE FOLLOWS]

                                       3

<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caud this Amendment to be
executed as of the date first above written.

                                  RADIO UNICA COMMUNICATIONS CORP.
                                  f/k/a Radio Unica Holdings Corp.

                                  By: /s/ Steven E. Dawson
                                     -----------------------------
                                     Name:  Steven E. Dawson
                                     Title: EVP/CFO

                                  RADIO UNICA CORP.

                                  By: /s/ Steven E. Dawson
                                     -----------------------------
                                     Name:   Steven E. Dawson
                                     Title:  EVP/CFO

                                  CANADIAN IMPERIAL BANK OF
                                  COMMERCE, as Agent

                                  By:
                                     -----------------------------
                                     Name:
                                     Title:

                                  LENDERS:

                                  CIBC INC.

                                  By:
                                     -----------------------------
                                     Name:
                                     Title:

<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caud this Amendment to be
executed as of the date first above written.

                                  RADIO UNICA COMMUNICATIONS CORP.
                                  f/k/a Radio Unica Holdings Corp.

                                  By:
                                     -----------------------------
                                     Name:
                                     Title:

                                  RADIO UNICA CORP.

                                  By:
                                     -----------------------------
                                     Name:
                                     Title:

                                  CANADIAN IMPERIAL BANK OF
                                  COMMERCE, as Agent

                                  By:/s/ Colleen Risorto
                                     -----------------------------
                                     Name:  Colleen Risorto
                                     Title: Executive Director
                                            CIBC World Markets Corp. As Agent

                                  LENDERS:
                                  -------

                                  CIBC INC.

                                  By:/s/ Colleen Risorto
                                     -----------------------------
                                     Name:  Colleen Risorto
                                     Title: Executive Director
                                            CIBC World Markets Corp. As Agent

<PAGE>

                                                                      EXHIBIT A

                            REAFFIRMATION AND CONSENT

                            Dated as of March 8, 2001

      Each of the undersigned, a Subsidiary of Radio Unica Corp. that has
entered into one or more Loan Documents (as defined in the Credit Agreement
referred to in the foregoing Amendment No. 4), hereby consents to said Amendment
and hereby reaffirms and agrees that (i) such Loan Documents are, and shall
continue to be, in full force and effect and are hereby ratified and confirmed
in all respects except that, upon the effectiveness of, and on and after the
date of, such Amendment No. 4, each reference in such Loan Documents to the
"Credit Agreement", "thereunder", "thereof" or words of like import shall mean
and be a reference to the Credit Agreement as amended by said Amendment, and
(ii) the Loan Documents to which the undersigned is a party and all of the
Collateral described therein do, and shall continue to, secure the payment of
all Obligations.

                    BLAYA, INC. RADIO
                    UNICA NETWORK, INC.
                    RADIO UNICA. SALES CORP.
                    ORO SPANISH BROADCASTING, INC.
                    RADIO UNICA OF SAN FRANCISCO, INC
                    RADIO UNICA OF SAN FRANCISCO LICENSE CORP.
                    RADIO UNICA OF HOUSTON LICENSE CORP.
                    RADIO UNICA OF MIAMI, INC.
                    RADIO UNICA OF MIAMI LICENSE CORP.
                    RADIO UNICA OF LOS ANGELES, INC.
                    RADIO UNICA OF LOS ANGELES LICENSE CORP.
                    RADIO UNICA OF NEW YORK, INC.
                    RADIO UNICA OF NEW YORK LICENSE CORP.
                    RADIO UNICA OF PHOENIX, INC.
                    RADIO UNICA OF PHOENIX LICENSE CORP.
                    RADIO UNICA OF DALLAS, INC.
                    RADIO UNICA OF DALLAS LICENSE CORP.
                    RADIO UNICA OF CHICAGO, INC.
                    RADIO UNICA OF CHICAGO LICENSE CORP.
                    RADIO UNICA OF DENVER, INC.
                    RADIO UNICA OF DENVER LICENSE CORP.
                    RADIO UNICA OF MCALLEN, INC.
                    RADIO UNICA OF MCALLEN LICENSE CORP.
                    RADIO UNICA OF FRESNO, INC.
                    RADIO UNICA OF FRESNO LICENSE CORP.
                    RADIO UNICA OF SAN ANTONIO, INC.
                    RADIO UNICA OF SAN ANTONIO LICENSE CORP.
                    RADIO UNICA OF TUCSON, INC.
                    RADIO UNICA OF TUCSON LICENSE CORP.
                    RADIO UNICA OF SACRAMENTO, INC.
                    RADIO UNICA OF SACRAMENTO LICENSE CORP.

                    By:
                        ----------------------------
                        Name: Title:

                                        5Prepared by MERRILL CORPORATION www.edgaradvantage.com

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AGREEMENT    
  

	PARTIES:	 	Northwest Pipe Company

200 S.W. Market Street

Suite 1800

Portland, OR 97201
	

 	
 	

William R. Tagmyer

1415 Horseshoe Curve

Lake Oswego, OR 97034
	
EFFECTIVE DATE:	
 	

November 14, 2000

    Company desires to retain the services of Executive, and Executive desires to continue to provide his services, upon the terms and conditions set forth in this
Agreement. Therefore, in exchange for the mutual promises set forth below, the parties agree as follows: 

 
 

ARTICLE 1
  DEFINITIONS    
  

    1.1 "Base Salary" means regular cash compensation paid on a periodic basis exclusive of benefits, bonuses or incentive
payments. 

    1.2 "Board" means the Board of Directors of Company. 

    1.3 "Cause" means (a) Executive's willful participation in any illegal conduct which is materially and
demonstrably injurious to the Company, or (b) Executive's breach of the provisions of either Section 5.2 or Section 5.3 of this Agreement. For the purpose of this
Section 1.3, no act, or failure to act, on Executive's part shall be considered "willful" unless done, or omitted to be done, in knowing bad faith and without reasonable belief that the action
or omission was in, or not opposed to, the best interests of the Company. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the
advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by Executive in good faith and in the best interests of the corporation. 

    1.4 "Confidential Information" Company has researched, compiled and developed certain proprietary data, including, but
not limited to customer information, trade secrets, and other information which is not generally disclosed by Company to the public. For the purpose of this Agreement, Confidential Information means
all proprietary data that has been researched, compiled, developed and/or maintained by Company, and which is not generally known within the industry. Confidential Information includes information,
ideas, knowledge, data, or know-how related to products, processes, software, designs, formulae, tests, research, business and/or marketing plans and strategies, costs, profits, pricing,
personnel and financial information, capitalization and other corporate data and information, and information about or obtained from customers, authors, suppliers, consultants, licenses, or
affiliates. 

    1.5 "Disability" means the inability of Executive to perform his duties under this Agreement, with or without reasonable
accommodation, because of physical or mental incapacity for a continuous period of 180 days. 

 
 

ARTICLE 2
  EMPLOYMENT, DUTIES AND TERM    
  

    2.1 Employment. Company employs Executive, and Executive accepts employment with Company for a period commencing on the
Effective Date and continuing through December 31, 2010 (the 

1

 

"Employment Period"). For the purpose of this Agreement, the phrase "the first three years of the Employment Period" shall include the remainder of the calendar year 2000 and the entire calendar years
2001, 2002 and 2003. 

    2.2 Duties. During the Employment Period, Executive shall make himself reasonably available to Company from time to time
to perform such part-time duties as may be assigned to him by Company, provided that such part-time duties are reasonably consistent with Executive's education, experience and
background. Further, Executive shall comply at all times with Company's policies and procedures to the extent they are not inconsistent with the provisions of this Agreement. 

    2.3 Term. This Agreement shall commence on the Effective Date and shall continue in effect until December 31,
2010, unless earlier terminated in accordance with the provisions of Article 6. 

 
 

ARTICLE 3
  COMPENSATION AND EXPENSES    
  

    3.1 Base Salary. During the first three years of the Employment Period, Company shall pay Executive an annual Base
Salary of $350,000. During the next succeeding seven years of the Employment Period, Company shall pay Executive an annual Base Salary of $150,000. 

    3.2 Bonus. During the first three years of the Employment Period, Executive shall be eligible for an annual bonus in the
amount determined by the Board in its sole discretion. 

    3.3 Fringe Benefits. During the first three years of the Employment Period, Executive shall be entitled to such fringe
benefits (e.g., automobile or automobile allowance, health insurance, life insurance, club dues, 401K) as are available to him immediately before the
effective date of this Agreement. 

    3.4 Business Expenses. Company shall, in accordance with, and to the extent of, its policies in effect from time to
time, bear all ordinary and necessary business expenses reasonably incurred by Executive in performing his duties during the Employment Period, provided that Executive accounts promptly for such
expenses to Company in the manner prescribed from time to time by Company. 

 
 

ARTICLE 4
  CONFLICT OF INTEREST    
  

    During the term of this Agreement, Executive will engage in no activity or employment which may conflict with the interest of Company, and he will comply with
Company's policies and guidelines pertaining to business conduct and ethics. 

 
 

ARTICLE 5
  PROPRIETARY RIGHTS    
  

    5.1 Confidential Information. Executive shall not use or disclose Confidential Information, in any form, for any
purpose, except in the course of Executive's employment with Company. Executive acknowledges that he will obtain no right, title or interest in the Confidential Information, and that the Confidential
Information shall remain the sole property of Company. Executive shall return all Confidential Information, including all copies in any form, to Company immediately upon termination of this Agreement. 

    5.2 Non-solicitation. During the period commencing on the Effective Date of this Agreement and extending
until the later of (i) the date that is one year after the date of termination of this Agreement, or (ii) the date that is one year after the last payment is made to Executive pursuant
to this Agreement, Executive shall not directly or indirectly (a) solicit business from any person or entity which then is or was a Company customer, client or prospect during the
60 months prior to the date of 

2

 

termination; (b) induce any such person or entity to cease or reduce their business relationship with Company; (c) induce any person to leave the employment of Company; or
(d) hire or use the services of any Company employee without Company's prior written consent. Executive will not aid others in doing anything Executive is prohibited from doing under this
Section 5.2, whether as an employee, officer, director, shareholder, partner, consultant or otherwise. 

    For
purposes of this Section 5.2, the term "solicit" includes without limitation (i) responding to requests for proposals and invitations for bids,
(ii) initiating contacts with customers, clients, or prospects of Company for the purpose of advising them that Executive is no longer employed by or consults for Company and is available for
work which is competitive with the services offered by Company, and (iii) participating in joint ventures or acting as a consultant or subcontractor or employee of others who directly solicit
business is prohibited by this Agreement. The term "Company employee" includes any then current employee of Company or any person who has left the employ of Company within the then previous six
months. The terms "Company client" and "Company customer" include any parent corporation, subsidiary corporation, affiliate corporation or partner or joint venture of a client or
customer. "Company prospect" means any person or entity to whom Company has submitted a bid or proposal within the then immediately preceding 12 months. 

    5.3 Noncompetition. During the period commencing on the Effective Date of this Agreement and extending until the later
of (i) the date that is one year after the date of termination of this Agreement, or (ii) the date that is one year after the last payment is made to Executive pursuant to this
Agreement, Executive shall not directly or indirectly Compete with Company anywhere Company is doing or planning to do business, nor engage in any other activity which would conflict with the
Company's business, or interfere with Executive's obligations to the Company. For the purpose of this Section 5.3, "Compete" means directly or indirectly: (i) have any financial interest
in, (ii) join, operate, control or participate in, or be connected as an officer, employee, Executive, independent contractor, partner, principal or shareholder with (except as holder of not
more than five percent of the outstanding stock of any class of a corporation, the stock of which is actively publicly traded) or (iii) provide services in any capacity to those participating
in the ownership, management, operation or control of, and/or (iv) act as a consultant or subcontractor to, a Competitive Business. "Competitive Business" means any corporation, proprietorship,
association or other entity or person engaged in the sale, production and/or development of products or the rendering of services of a kind similar to or competitive with that sold, produced,
developed or rendered by Company within three years of the date Executive's employment terminates. 

    5.4 Consent to Injunction. Executive acknowledges that Company would suffer irreparable harm for which monetary damages
alone would not adequately compensate Company if Executive breached any of his obligations under this Article V. Executive agrees that Company shall be entitled to injunctive relief to enjoin
any breach or threatened breach of this Article V, in addition to any other available remedies. 

 
 

ARTICLE 6
  TERMINATION    
  

    6.1 Termination. This Article sets forth the terms for early termination of this Agreement, and Executive's exclusive
remedies for termination. 

    6.2 Right to Terminate. The Company or Executive may terminate Executive's employment with Company at any time, subject
to Company's obligations to provide benefits under this Agreement. 

    6.3 Notice of Termination. Any purported termination by Company or by Executive other than a termination due to
Executive's death shall be communicated to the other party by written Notice of Termination. For purposes of this Agreement, a "Notice of Termination" means a notice which indicates the specific
termination provision in this Agreement relied upon and setting forth in 

3

 

reasonable detail the facts and circumstances claimed to provide a basis for termination of this Agreement. 

    6.4 Termination Due to Death. This Agreement shall terminate in the event of Executive's death. In such event, Company
shall pay Executive's designated beneficiary or his estate, whichever is applicable, fifty percent of the remaining payments that would otherwise have been payable to Executive for the term of this
Agreement had Executive survived. 

    6.5 Termination due to Disability. Company may terminate this Agreement due to Disability no less than 30 days
after Notice of Termination is given, provided that Executive has not returned to the performance of his duties during such 30 day period. In the event of termination due to Disability, Company
shall continue to pay Executive all of the remaining payments that otherwise would have been payable to Executive for the term of this Agreement had he not become disabled; provided, however, such
payments may be offset by any payments received directly by Executive from any policies of disability income insurance maintained by Company for the benefit of Executive. 

    6.6 Termination for Cause. Company may terminate this Agreement for Cause upon delivery to Executive of a resolution
duly adopted by the affirmative vote of not less than two-thirds of the entire membership of the Board at a meeting of the Board called and held for the purpose (after reasonable notice to
Executive and an opportunity for Executive, together with his counsel, to be heard before the Board), finding that in the good faith opinion of the Board Executive was guilty of the conduct set forth
Section 1.3 and specifying the particulars thereof in detail. In the event of termination for Cause pursuant to this Section 6.6, Company shall pay Executive all compensation and
expenses to which he is entitled pursuant to the provisions of Article 3 of this Agreement through the date of termination. 

    6.7 Termination by Company for Reasons Other than Death, Disability or Cause. Company may terminate this Agreement for
any reason other than death, Disability, or Cause not less than 90 days after the date on which a Notice of Termination is given, unless an earlier date has been agreed to by the party
receiving the Notice of Termination either in advance of, or after, receiving such Notice of Termination. In the event Company terminates this Agreement for any reason other than death, Disability or
Cause, subject to the provisions of Section 7.8, Company shall continue to pay Executive all of the remaining payments that would otherwise have been payable to Executive for the term of this
Agreement had it not been terminated. 

    6.8 Termination by Executive. In the event Executive terminates this Agreement, Company shall pay Executive all
compensation and expenses to which he is entitled pursuant to the provisions of Article 3 of this Agreement through the date of termination. 

    6.9 No Reduction or Offset. The amount of any payments made to Executive by Company under this Agreement shall not be
reduced, offset or subject to recovery by Company by reason of any compensation earned by Executive as the result of employment by another employer after the date of termination, or otherwise. 

    6.10 Fees and Expenses. Company shall pay all professional fees and related expenses incurred by Executive as a result
of Executive's attempt to enforce any right or benefit provided by this Agreement. 

 
 

ARTICLE 7
  GENERAL PROVISIONS    
  

    7.1 Successors and Assigns. This Agreement shall inure to the benefit of and be enforceable by the parties, and their
respective personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees, legatees, successors and assigns. In that this Agreement is a personal services
contract, it shall not be assigned by Executive. 

4

 

    7.2 Survival. The respective rights and obligations of the parties set forth in this Agreement shall survive the
termination of this Agreement. 

    7.3 Notice. For the purpose of this Agreement, notices and all other communications provided for in this Agreement shall
be in writing and shall be deemed to have been duly given when delivered or mailed by United States registered mail, return receipt requested, postage prepaid and addressed to the address of the
respective party set forth on the first page of this Agreement, provided that all notices to the Company shall be directed to the attention of the President of the Company, with a copy to the
Secretary of the Company, or to such other address as either party may have furnished to the other in
writing in accordance with this Section 7.3, except that notice of change of address shall be effective only upon receipt. 

    7.4 Miscellaneous. No provision of this Agreement may be modified, waived or discharged unless such modification, waiver
or discharge is agreed to in a writing signed by Executive and the President of the Company. The failure of either party to demand strict performance of any provision of this Agreement shall not
constitute a waiver of any provision, term, covenant, or condition of this agreement or of the right to demand strict performance in the future. No agreements or representations, oral or otherwise,
express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement. The validity, interpretation, construction and
performance of this Agreement shall be governed by the laws of the State of Oregon. 

    7.5 Severability. The provisions of this Agreement are severable. If any provision of this Agreement or its application
is held invalid, the invalidity shall not affect other obligations. 

    7.6 Arbitration. Any dispute or controversy arising under or in connection with this Agreement shall be settled
exclusively by arbitration in Portland, Oregon, by a single arbitrator in accordance with the rules of the National Rules for the Resolution of Employment Disputes of the American Arbitration
Association then in effect. Both parties agree that the procedure outlined in this paragraph is the exclusive method of dispute resolution; provided, however, that Company shall be entitled to seek
injunctive relief in any court of competent jurisdiction to prevent a breach or threatened breach of Article 5, notwithstanding anything in this paragraph to the contrary. The Company shall
bear all costs and expenses arising in connection with any arbitration under this Section. Except as provided in Section 6.9, the prevailing party in any suit, action, arbitration or other
proceeding to interpret or enforce this Agreement shall be entitled to recover its attorney fees, costs and expenses. 

    7.7 Related Agreements. Except as provided in Section 7.8, to the extent that any provision of any other
agreement between Company and Executive shall limit, qualify or be inconsistent with any provision of this Agreement, the provisions of this Agreement shall control the provisions of such other
agreements shall be deemed to have been superseded and of no further force or effect. 

    7.8 Change of Control Agreement. Company and Executive presently have in effect a letter agreement dated July 28,
1999, as amended November 14, 2000, which provides Executive with certain benefits in the event his employment with Company is terminated for certain prescribed reasons following a change in
control of the Company as defined therein (the "Change of Control Agreement"). In the event Company terminates Executive's employment with Company for reasons other than death, Disability, or Cause in
the event Executive Terminates his employment with Company for good reason, while the Change of Control Agreement, (or any successor agreement) remains in effect and the circumstances of their
termination are such that it is applicable, then Executive shall elect to receive
either all benefits and remedies available to him under this Agreement or all benefits and remedies under the Change of Control Agreement or any comparable successor agreement. 

    7.9 Termination of Payments. Notwithstanding any other provision of this Agreement to the contrary, Company shall not be
required to make any payments to Executive under this Agreement and 

5

 

may terminate any payments being made to Executive under this Agreement in the event that Executive breaches the provisions of either Section 5.2 or Section 5.3 of this Agreement. 

    The
parties have signed this Agreement to be effective as of the Effective Date. 

	 	 	NORTHWEST PIPE COMPANY
	

/s/ William R. Tagmyer
	
 	

By:	
 	

/s/ Brian W. Dunham

	WILLIAM R. TAGMYER

"Executive"	 	Title:	 	President
 "Company"

6

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AGREEMENT

ARTICLE 1 DEFINITIONS

ARTICLE 2 EMPLOYMENT, DUTIES AND TERM

ARTICLE 3 COMPENSATION AND EXPENSES

ARTICLE 4 CONFLICT OF INTEREST

ARTICLE 5 PROPRIETARY RIGHTS

ARTICLE 6 TERMINATION

ARTICLE 7 GENERAL PROVISIONS

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