Document:

Amended and Restated  Change in Control Agreement

 Exhibit 10.17 
 AGREEMENT 

			
	 PARTIES:
	  	Northwest Pipe Company
		  	5721 Columbia Way
		  	Suite 200
		  	Vancouver, WA 98661
		
		  	William R. Tagmyer
		  	1415 Horseshoe Curve
		  	Lake Oswego, OR 97034

 EFFECTIVE DATE: November 14, 2000 (As Amended December 31, 2008) 
 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 – AGREEMENT 

 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 “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. 
  

 2 – AGREEMENT 

 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 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 

  

 3 – AGREEMENT 

 
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 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 in a single lump sum 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. Such payment shall be made within 60 days after the end of the year of Executive’s death. 
 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 

  

 4 – AGREEMENT 

 
payments that otherwise would have been payable to Executive when such payments become due according to the payment schedule for salary payments to Executive
under this Agreement 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 not later than 30
days after 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, 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 when such payments would have become due had this Agreement 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. 
  

 5 – AGREEMENT 

 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. 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 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 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. 
  

 6 – 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	 		 	Title:	 	President
	“Executive”	 		 	“Company”

  

 7 – AGREEMENTAmended and Restated  Change in Control Agreement

 Exhibit 10.18 
 July 28, 1999 
 (As Amended December 31, 2008) 
 To the CEO and President: 
 Northwest Pipe Company, an
Oregon corporation (the “Company”), considers the establishment and maintenance of a sound and vital management to be essential to protecting and enhancing the best interest of the Company and its shareholders. In this connection, the
Company recognizes that, as is the case with many publicly held corporations, the possibility of a Change in Control may exist and that such possibility, and the uncertainty and questions which it may raise among management, may result in the
departure or distraction of management personnel to the detriment of the Company and its shareholders. Accordingly, the Board of Directors of the Company (the “Board”) has determined that appropriate steps should be taken to reinforce and
encourage the continued attention and dedication of members of the Company’s management to their assigned duties without distraction in circumstances arising from the possibility of a Change in Control of the Company. 
 In order to induce you to remain in the employ of the Company, this letter agreement, which has been approved by the Board, sets forth the severance
benefits which the Company agrees will be provided to you in the event your employment with the Company is terminated subsequent to a “Change in Control” of the Company under the circumstances described below. 
 1. Right to Terminate. The Company or you may terminate your employment at any time, subject to the Company’s obligations to provide the
benefits hereinafter specified in accordance with the terms hereof. 
 2. Term of Agreement. This Agreement shall commence on the date
hereof and shall continue in effect until July 19, 2009; provided, however, that commencing on July 19, 2009 and each July 19 thereafter, the term of this Agreement shall automatically be extended for one additional year unless at
least 90 days prior to such July 19 date, the Company or you shall have given notice that this Agreement shall not be extended; provided, however, that this Agreement shall continue in effect for a period of twenty-four (24) months beyond
the term provided herein if a Change in Control, as defined in Section 3 hereto shall have occurred during such term. Notwithstanding anything in this Section 2 to the contrary, this Agreement shall terminate if you or the Company
terminate your employment prior to a Change in Control as defined in Section 3 hereof. 
 3. Change in Control; Person.

 3.1 For purposes of this Agreement, a “Change in Control” shall mean the occurrence of any of the following
events: 
 3.1.1 The approval by the shareholders of the Company of: 

 (a) any consolidation, merger or plan of share exchange involving the Company (a
“Merger”) in which the Company is not the continuing or surviving corporation or pursuant to which shares of Common Stock of the Company (“Company Shares”) would be converted into cash, securities or other property, other than a
Merger involving Company Shares in which the holders of Company Shares immediately prior to the Merger have the same proportionate ownership of common stock of the surviving corporation immediately after the Merger, 
 (b) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all, or substantially all,
the assets of the Company; or 
 (c) the adoption of any plan or proposal for the liquidation or dissolution of the Company.

 3.1.2 At any time during a period of two consecutive years, individuals who at the beginning of such period constituted the
Board (“Incumbent Directors”) shall cease for any reason to constitute at least a majority thereof unless each new director elected during such two-year period was nominated or elected by two-thirds of the Incumbent Directors then in
office and voting (with new directors nominated or elected by two-thirds of the Incumbent Directors also being deemed to be Incumbent Directors); or 
 3.1.3 Any Person (as hereinafter defined) shall, as a result of a tender or exchange offer, open market purchases, or privately negotiated purchases from anyone other than the Company, have become the beneficial owner
(within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934), directly or indirectly, of securities of the Company ordinarily having the right to vote for the election of directors (“Voting Securities”) representing thirty
percent (30%) or more of the combined voting power of the then outstanding Voting Securities. 
 Notwithstanding anything in the
foregoing to the contrary, unless otherwise determined by the Board, no Change in Control shall be deemed to have occurred for purposes of this Agreement if (1) you acquire (other than on the same basis as all other holders of the Company
Shares) an equity interest in an entity that acquires the Company in a Change in Control otherwise described under subparagraph 3.1.1 above, or (2) you are part of a group that constitutes a Person which becomes a beneficial owner of Voting
Securities in a transaction that otherwise would have resulted in a Change in Control under subparagraph 3.1.3 above. 
 3.2
For purposes of this Agreement, the term “Person” shall mean and include any individual, corporation, partnership, group, association or other “person,” as such term is used in Section 13(d)(3) or Section 14(d)(2) of
the Securities Exchange Act of 1934 (the “Exchange Act”), other than the Company or any employee benefit plan(s) sponsored by the Company. 
 4. Termination Following Change In Control. If a Change in Control shall have occurred, you shall be entitled to the benefits provided in Section 5.3 hereof upon the termination of your employment within
twenty-four (24) months after such Change in Control unless such termination is (a) because of your death, (b) by the Company for Cause or Disability or (c) by you other than for Good Reason (as all such capitalized terms are
hereinafter defined). 
  

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 4.1 Disability. Termination by the Company of your employment based on
“Disability” shall mean termination because of your absence from your duties with the Company on a full-time basis for one hundred eighty (180) consecutive days as a result of your incapacity due to physical or mental illness, unless
within thirty (30) days after Notice of Termination (as hereinafter defined) is given to you following such absence you shall have returned to the full-time performance of your duties. 
 4.2 Cause. Termination by the Company of your employment for “Cause” shall mean termination upon (a) the willful and
continued failure by you to substantially perform your reasonably assigned duties with the Company consistent with those duties assigned to you prior to the Change in Control (other than any such failure resulting from your incapacity due to
physical or mental illness) which failure shall not have been corrected within thirty (30) days after a demand for substantial performance is delivered to you by the Chairman of the Board or President of the Company which specifically
identifies the manner in which such executive believes that you have not substantially performed your duties, or (b) the willful engaging by you in illegal conduct which is materially and demonstrably injurious to the Company. For purposes of
this paragraph 4.2, no act, or failure to act, on your part shall be considered “willful” unless done, or omitted to be done, by you in knowing bad faith and without reasonable belief that your 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 you in good faith and in the best interests of the corporation. Notwithstanding the foregoing, you shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to you a copy 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 you and an opportunity for you, together with your counsel, to be
heard before the Board), finding that in the good faith opinion of the Board you were guilty of the conduct set forth above in (a) or (b) of this paragraph 4.2 and specifying the particulars thereof in detail. 
 4.3 Good Reason. Termination by you of your employment for “Good Reason” shall mean termination based on: 
 4.3.1 a change in your status, title, position(s) or responsibilities as an officer of the Company which, in your judgment (which shall be
exercised in good faith), constitutes an adverse change from your status, title, position(s) and responsibilities as in effect immediately prior to the Change in Control, or the assignment to you of any duties or responsibilities which, in your
judgment (which shall be exercised in good faith), are inconsistent with such status, title or position(s), or any removal of you from or any failure to reappoint or reelect you to such position(s), except in connection with the termination of your
employment for Cause, Disability or as a result of your death or by you other than for Good Reason; 
 4.3.2 a reduction by
the Company in your base salary as in effect immediately prior to the Change in Control; 
  

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 4.3.3 the failure by the Company to continue in effect any Plan (as hereinafter defined)
in which you are participating at the time of the Change in Control (or Plans providing you with at least substantially similar benefits) other than as a result of the normal expiration of any such Plan in accordance with its terms as in effect at
the time of the Change in Control, or the taking of any action, or the failure to act, by the Company which would adversely affect your continued participation in any of such Plans on at least as favorable a basis to you as is the case on the date
of the Change in Control or which would materially reduce your benefits in the future under any of such Plans or deprive you of any material benefit enjoyed by you at the time of the Change in Control; 
 4.3.4 the failure by the Company to provide and credit you with the number of paid vacation days to which you are then entitled in
accordance with the Company’s normal vacation policy as in effect immediately prior to the Change in Control; 
 4.3.5
the Company’s requiring you to be based anywhere other than within ten (10) miles of where your office is located immediately prior to the Change in Control except for required travel on the Company’s business to an extent
substantially consistent with the business travel obligations which you undertook on behalf of the Company prior to the Change in Control; 
 4.3.6 the failure by the Company to obtain from any Successor (as hereinafter defined) the assumption or assent to this Agreement contemplated by Section 6 hereof within thirty (30) days after a Change in
Control; or 
 4.3.7 any purported termination by the Company of your employment which is not effected pursuant to a Notice of
Termination satisfying the requirements of paragraph 4.4 below (and, if applicable, paragraph 4.2 above); and for purposes of this Agreement no such purported termination shall be effective. 
 For purpose of this Agreement, “Plan” shall mean any compensation plan such as an incentive, stock option or restricted stock plan or any
employee benefit plan such as a thrift, pension, profit sharing, medical, disability, accident, life insurance, or relocation plan or policy or any other plan, program or policy of the Company intended to benefit employees. 
 4.4 Notice of Termination. Any purported termination by the Company or by you following a Change in Control shall be communicated
by written Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and shall set
forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of your employment under the provision so indicated. 
 4.5 Date of Termination. “Date of Termination” shall mean (a) if your employment is to be terminated for Disability, thirty (30) days after Notice of Termination is given (provided that you
shall not have returned to the performance of your duties on a full-time basis during such thirty (30) day period), (b) if your employment is to be terminated by the Company for Cause, the date on which a Notice of Termination is given,
and (c) if your employment is to be terminated by you or by the Company for any other reason, the date 

  

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specified in the Notice of Termination, which shall be a date no earlier than ninety (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. Notwithstanding anything in the foregoing to the contrary, if the party receiving the
Notice of Termination has not previously agreed to the termination, then within thirty (30) days after any Notice of Termination is given, the party receiving such Notice of Termination may notify the other party that a dispute exists
concerning the termination, in which event the Date of Termination shall be the date set either by mutual written agreement of the parties or by the arbitrators in a proceeding as provided in Section 12 hereof. 
 5. Compensation Upon Termination or During Disability. 
 5.1 During any period following a Change in Control that you fail to perform your duties as a result of incapacity due to physical or
mental illness, you shall continue to receive your full base salary at the rate then in effect and any benefits or awards under any Plans shall continue to accrue during such period, to the extent not inconsistent with such Plans, until your
employment is terminated pursuant to and in accordance with paragraphs 4.1, 4.4 and 4.5 hereof. Thereafter, your benefits shall be determined in accordance with the Plans then in effect. 
 5.2 If your employment shall be terminated for Cause or as a result of your death following a Change in Control of the Company, the
Company shall pay you your full base salary through the Date of Termination at the rate in effect just prior to the time a Notice of Termination is given plus any benefits or awards (including both the cash and stock components) which pursuant to
the terms of any Plans have been earned or become payable, but which have not yet been paid to you. Thereupon the Company shall have no further obligations to you under this Agreement. 
 5.3 If within twenty-four (24) months after a Change in Control shall have occurred, as defined in Section 3 above, your
employment by the Company shall be terminated (a) by the Company other than for Cause or Disability or (b) by you for Good Reason, then, by no later than the fifth day following the Date of Termination (except as otherwise provided), you
shall be entitled to, and shall be paid, without regard to any contrary provisions of any Plan, a severance benefit (the “Severance Benefit”) equal to either (x) the Specified Benefits (as defined in subsection 5.3.1 below), or
(y) the Capped Benefit (as defined in subsection 5.3.2 below). You shall be entitled, in your sole discretion, to elect to receive either the Specified Benefits or the Capped Benefit. 
 5.3.1 The “Specified Benefits” are as follows: 
 (a) the Company shall pay your full base salary through the Date of Termination at the rate in effect just prior to the time a Notice of
Termination is given plus any benefits or awards (including both cash and stock components) which pursuant to the terms of any Plans have been earned or become payable, but which have not yet been paid to you (including amounts which previously had
been deferred at your request); 
  

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 (b) as severance pay and in lieu of any further salary for periods subsequent to the
Date of Termination, the Company shall pay to you in a single payment an amount in cash equal to (i) an amount equal to three (3) times the higher of (A) your annual base salary at the rate in effect just prior to the time a Notice of
Termination is given, or (B) your annual base salary in effect immediately prior to the Change in Control of the Company, plus (ii) an amount equal to three (3) times the average of the cash bonuses paid to you during the previous
three years; 
 (c) for a thirty-six (36) month period after the Date of Termination, the Company shall arrange to
provide you and your dependents with life, accident, medical and dental insurance benefits substantially similar to those which you were receiving immediately prior to the Change in Control of the Company. Notwithstanding the foregoing, the Company
shall not provide any benefit otherwise receivable by you pursuant to this paragraph 5.3.1(c) to the extent that a similar benefit is actually received by you from a subsequent employer during such thirty-six (36) month period, and any such
benefit actually received by you shall be reported to the Company; 
 (d) any and all outstanding options to purchase stock
of the Company (or any Successor) held by you shall immediately vest and become exercisable in full; and 
 (e) the Company
shall pay you for any vacation time earned but not taken at the Date of Termination, at an hourly rate equal to your annual base salary as in effect immediately prior to the time a Notice of Termination is given divided by 2080. 
 5.3.2 The “Capped Benefit” equals the Specified Benefits, reduced by the minimum amount necessary to prevent any portion of the
Specified Benefits from being a “parachute payment” as defined in Section 280G(b)(2) of the Internal Revenue Code of 1986, as amended (“IRC”), or any successor provision. The amount of the Capped Benefit shall therefore
equal (1) three times the “base amount” as defined in IRC, Section 280G(b)(3)(A) reduced by $1 (One Dollar), and further reduced by (2) the present value of all other payments and benefits you are entitled to receive
from the Company that are contingent upon a Change in Control of the Company within the meaning of IRC Section 280G(b)(2)(A)(i), including accelerated vesting of options and other awards under the Company’s stock option plans, and
increased by (3) all Specified Benefits that are not contingent upon a Change in Control within the meaning of IRC Section 280G(b)(2)(A)(i). If you receive the Capped Benefit, you may determine the extent to which each of the Specified
Benefits shall be reduced. The parties recognize that there is some uncertainty regarding the computations under IRC Section 280G which must be applied to determine the Capped Benefit. Accordingly, the parties agree that, after the Severance
Benefit is paid, the amount of the Capped Benefit may be retroactively adjusted to the extent any subsequent Internal Revenue Service regulations, rulings, audits or other pronouncements establish that the original calculation of the Capped Benefit
was incorrect. In that case, amounts shall be paid or reimbursed between the parties so that you will have received the Severance Benefit you would have received if the Capped Benefit had originally been calculated correctly. 
 5.4 Except as specifically provided above, the amount of any payment provided for in this Section 5 shall not be reduced, offset or
subject to recovery by the Company by reason of any compensation earned by you as the result of employment by another employer after the Date of Termination, or otherwise. Your entitlements under Section 5.3 are in addition to, and not in lieu
of any rights, benefits or entitlements you may have under the terms or provisions of any Plan. 
  

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 6. Successors; Binding Agreement. 
 6.1 The Company will seek to have any Successor (as hereinafter defined), by agreement in form and substance satisfactory to you, assume
the Company’s obligations under this Agreement or assent to the fulfillment by the Company of its obligations under this Agreement. Failure of the Company to obtain such assumption or assent prior to or at the time a Person becomes a Successor
shall constitute Good Reason for termination by you of your employment and, if a Change in Control of the Company has occurred, shall entitle you immediately to the benefits provided in Section 5.3 hereof upon delivery by you of a Notice of
Termination which the Company, by executing this Agreement, hereby assents to. This Agreement will be binding upon and inure to the benefit of the Company and any Successor (and such Successor shall thereafter be deemed the “Company” for
purposes of this Agreement), but will not otherwise be assignable, transferable or delegable by the Company. For purposes of this Agreement, “Successor” shall mean any Person that succeeds to, or has the practical ability to control
(either immediately or with the passage of time), the Company’s business directly, by merger, consolidation or purchase of assets, or indirectly, by purchase of the Company’s Voting Securities or otherwise. 
 6.2 This Agreement shall inure to the benefit of and be enforceable by your personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees and legatees. If you should die while any amount would still be payable to you hereunder if you had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the
terms of this Agreement to your devisee, legatee or other designee or, if there be no such designee, to your estate. 
 7. Fees and
Expenses. The Company shall pay all legal fees and related legal expenses incurred by you as a result of (i) your termination following a Change in Control of the Company (including all such fees and expenses, if any, incurred in contesting
or disputing any such termination) or (ii) your seeking to obtain or enforce any right or benefit provided by this Agreement. 
 8.
Survival. The respective obligations of, and benefits afforded to, the Company and you as provided in Section 5, 6, 7 and 12 of this Agreement shall survive termination of this Agreement. 
 9. Notice. For the purposes 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 Chairman of the Board or 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 herewith, except that notice of change of address shall be effective only upon receipt. 
  

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 10. 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 you and the Chairman of the Board or President of the Company. No waiver by either party hereto at any time of any breach by the other party hereto of, or of compliance with,
any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 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. 
 11. Validity. The invalidity or unenforceability of any provision of this Agreement
shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 
 12.
Arbitration. Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration in Portland, Oregon by three arbitrators in accordance with the rules of the American Arbitration
Association then in effect. Judgment may be entered on the arbitrators’ award in any court having jurisdiction; provided, however, that you shall be entitled to seek specific performance of your right to be paid until the Date of Termination
during the pendency of any dispute or controversy arising under or in connection with this Agreement. The Company shall bear all costs and expenses arising in connection with any arbitration proceeding pursuant to this Section 12. 

13. Related Agreements. To the extent that any provision of any other agreement between the Company or any of its subsidiaries and you shall
limit, qualify or be inconsistent with any provision of this Agreement, then for purposes of this Agreement, while the same shall remain in force, the provision of this Agreement shall control and such provision of such other agreement shall be
deemed to have been superseded, and to be of no force or effect, as if such other agreement had been formally amended to the extent necessary to accomplish such purpose. 
 14. Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original, but all of which together will constitute one and the same instrument. 
  

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 If this letter correctly sets forth our agreement on the subject matter hereof, kindly sign and return to
the Company the enclosed copy of this letter which will then constitute our agreement on this subject. 
  

	
	Sincerely,
	
	/s/ William R. Tagmyer
	William R. Tagmyer, Chairman of the Board
	Northwest Pipe Company

  

	
	AGREED AND ACCEPTED:
	
	/s/ Brian W. Dunham
	Brian W. Dunham
	President and Chief Executive Officer

  

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