Document:

EX-4.1 Placement Agreement

 

EXHIBIT 4.1

EXECUTION VERSION

$150,000,000

MASTEC, INC.

7 5/8% SENIOR NOTES DUE 2017

Guaranteed by

THE GUARANTORS NAMED HEREIN

PLACEMENT AGREEMENT

	 	 	 
	 
	 	 
	January 24, 2007

	 	 

 

 

January 24, 2007

Morgan Stanley & Co. Incorporated

1585 Broadway

New York, New York 10036

Ladies and Gentlemen:

     MasTec, Inc. (“MasTec”), a Florida corporation, or (the “Company”), proposes to issue and sell
to Morgan Stanley & Co. Incorporated (the “Placement Agent”) $150,000,000 aggregate principal
amount of its 7 5/8% Senior Notes due 2017 (the “Notes”). The Notes are to be issued pursuant to
the provisions of an indenture to be dated as of January 31, 2007 (the “Indenture”) among the
Company and the subsidiary guarantors of the Company named in Schedule II hereto
(collectively, the “Guarantors”) and U.S. Bank National Association, as Trustee (the “Trustee”).

     The Notes will be jointly and severally guaranteed on a senior, unsecured and unsubordinated
basis by the Guarantors pursuant to their guarantees (the “Guarantees”). The Notes and the
Guarantees attached thereto are herein collectively referred to as the “Securities.”

     The Securities will be offered without being registered under the Securities Act of 1933, as
amended (the “Securities Act”), to qualified institutional buyers in compliance with the exemption
from registration provided by Rule 144A under the Securities Act and in offshore transactions in
reliance on Regulation S under the Securities Act (“Regulation S”).

     The Placement Agent and its direct and indirect transferees will be entitled to the benefits
of a registration rights agreement dated the date hereof among the Company, the Guarantors and the
Placement Agent (the “Registration Rights Agreement”).

     The execution and delivery of this Agreement, the Registration Rights Agreement and the
Indenture (the “Transaction Documents”) and the issuance and sale of the Securities contemplated
herein and therein, and as contemplated in each Memorandum, are hereinafter collectively referred
to as the “Offering.”

     In connection with the sale of the Securities, the Company has prepared a preliminary offering
memorandum dated January 16, 2007 (the “Preliminary Memorandum”) and will prepare a final offering
memorandum, dated January 24, 2006 (the “Final Memorandum” and, with the Preliminary Memorandum,
each a “Memorandum”) including a description of the terms of the Securities,

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the terms of the Offering and a description of the Company. For purposes of this Agreement,
“Additional Written Offering Communication” means any written communication (as defined in Rule 405
under the Securities Act) that constitutes an offer to sell or solicitation of an offer to buy the
Securities other than the Preliminary Memorandum or the Final Memorandum, and “Time of Sale
Memorandum” means the Preliminary Memorandum together with the Additional Written Offering
Communications, if any, each identified in Schedule III hereto. As used herein, the terms
Preliminary Memorandum, Time of Sale Memorandum and Final Memorandum shall include the documents,
if any incorporated by reference therein. The terms “supplement,” “amendment,” and “amend” as used
herein with respect to the Preliminary Memorandum, the Time of Sale Memorandum, the Final
Memorandum or any Additional Written Offering Communication shall include all documents
subsequently filed by the Company with the Securities and Exchange Commission (the “Commission”)
pursuant to the Securities Exchange Act of 1934 (the “Exchange Act”) that are deemed to be
incorporated by reference therein. The “Applicable Time” means 10:30 a.m., New York City Time, on
January 24, 2007, which is the time of the first sale of the Notes by the Placement Agent to the
public.

     1. Representations and Warranties. The Company and each of the Guarantors, jointly and
severally, represents and warrants to, and agrees with, you that:

     (a) (i) Each document, if any, filed or to be filed pursuant to the Exchange Act and
incorporated by reference in the Preliminary Memorandum, the Time of Sale Memorandum or
the Final Memorandum complied or will comply when so filed in all material respects with
the Exchange Act and the applicable rules and regulations of the Commission thereunder,
(ii) the Time of Sale Memorandum at the Applicable Time does not, and at the time of each
sale of the Securities in connection with the offering when the Final Memorandum is not
yet available to prospective purchasers and at the Closing Date (as defined in Section 4),
the Time of Sale Memorandum, as then amended or supplemented by the Company, if
applicable, will not, contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading, (iii) the Preliminary Memorandum does not
contain and the Final Memorandum, as of its date and on the Closing Date (as defined in
Section 4), will not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading, except that the representations and warranties
set forth in this paragraph do not apply to statements or omissions in the Preliminary
Memorandum, the Time of Sale Memorandum or the Final Memorandum
based upon information relating to the Placement Agent furnished to the Company in
writing by the Placement Agent expressly for use therein.

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     (b) Except for the Additional Written Communications, if any, identified in Schedule
III hereto, and electronic road shows, if any, furnished to you before first use, the
Company has not prepared, used or referred to, and will not, without your prior written
consent, use or refer to, any Additional Written Offering Communication.

     (c) The Company has been duly incorporated, is validly existing as a corporation in
good standing under the laws of the State of Florida, has the corporate power and
authority to own its property and to conduct its business as described in the Time of Sale
Memorandum and is duly qualified to transact business and is in good standing in each
jurisdiction in which the conduct of its business or its ownership or leasing of property
requires such qualification, except to the extent that the failure to be so qualified or
be in good standing would not have a material adverse effect on the Company and its
subsidiaries (financial or otherwise), taken as a whole (“Material Adverse Effect”).

     (d) Each Guarantor has been duly incorporated or organized, is validly existing as a
corporation or a limited liability company, as the case may be, is in good standing under
the laws of the jurisdiction of its incorporation, has the corporate power and authority
to own its property and to conduct its business as described in the Time of Sale
Memorandum and is duly qualified to transact business and is in good standing in each
jurisdiction in which the conduct of its business or its ownership or leasing of property
requires such qualification, except to the extent that the failure to be so qualified or
in good standing would not have a Material Adverse Effect. Except as otherwise described
in the Time of Sale Memorandum and Final Memorandum, all of the outstanding shares of
capital stock of each Guarantor have been duly and validly authorized and issued, are
fully paid and non-assessable, and are owned directly by the Company, free and clear of
all liens, encumbrances, equities or claims. As used in this Agreement, “subsidiary” or
“subsidiaries” shall mean both direct and indirect subsidiaries of an entity.

     (e) This Agreement has been duly authorized, executed and delivered by the Company
and each of the Guarantors.

     (f) The Company and each of the Guarantors have full right, power and authority to
execute and deliver each of the Transaction Documents to which they are party and perform
their respective obligations thereunder.

     (g) The Notes have been duly authorized by the Company and, when executed and
authenticated in accordance with the provisions of the applicable Indenture and delivered
to and paid for by the Placement Agent in accordance with the terms of this Agreement,
will be valid and binding obligations of the Company, enforceable in accordance with their
terms,

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subject to the effects of (1) bankruptcy, reorganization, insolvency, fraudulent
conveyance, moratorium or other laws affecting creditors’ rights generally from time to
time in effect, (2) general principles of equity (whether considered in a proceeding in
equity or at law) and (3) an implied covenant of good faith and fair dealing (the
“Enforceability Limitations”), and will be entitled to the benefits of such Indenture
pursuant to which such Notes are to be issued, and the applicable Registration Rights
Agreement.

     (h) [Reserved].

     (i) Each of the Indenture and the Registration Rights Agreement has been duly
authorized by the Company and each Guarantor and, when executed and delivered in
accordance with its terms by each of the parties thereto, assuming the due authorization
by the Trustee, will be a valid and binding agreement of the Company and each Guarantor
enforceable in accordance with its terms, subject to the Enforceability Limitations. On
the Closing Date, the Indenture will conform in all material respects to the requirements
of the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”), and the rules
and regulations of the Commission applicable to an indenture which is qualified
thereunder.

     (j) [Reserved.]

     (k) The statements set forth in the Time of Sale Memorandum and the Final Memorandum
under the caption “Description of Other Indebtedness,” insofar as they purport to describe
the documents referred to therein, are accurate and complete in all material respects.

     (l) The execution and delivery by the Company and each of the Guarantors of, and the
performance by the Company and each of the Guarantors of its respective obligations under
this Agreement, the Indenture, the Registration Rights Agreement and the Securities will
not contravene any provision of (i) applicable law, (ii) the certificate of incorporation
or by-laws of the Company or any Guarantor, (iii) any agreement or other instrument
binding upon the Company or any Guarantor, or any of their respective subsidiaries, that
is material to the Company and its subsidiaries taken as a whole, or (iv) any judgment,
order or decree of any governmental body, agency or court having jurisdiction over the
Company or any Guarantor or any of their respective subsidiaries,
and, except that, in the case of clauses (i) and (iv), for any contravention that
would not reasonably be expected to have a Material Adverse Effect; no consent, approval,
authorization or order of, or qualification with, any governmental body or agency is
required for the performance by the Company or the Guarantors of their respective
obligations under this Agreement, the Indenture, the Registration Rights Agreement or the
Securities, (x) except for such consents, approvals, authorizations, orders

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and
qualifications that have been obtained or where failure to do so would not reasonably be
expected to have a Material Adverse Effect and (y) except such as may be required by the
securities or Blue Sky laws of the various states in connection with the offer and sale of
the Securities, by federal and state securities laws with respect to the Company and each
of the Guarantor’s respective obligations under the Registration Rights Agreements or as
have or will be obtained prior to the Closing Date.

     (m) [Reserved.]

     (n) There has not occurred any material adverse change, or any development involving
a prospective material adverse change, in the condition, financial or otherwise, or in the
earnings, business or operations of the Company and its subsidiaries, taken as a whole,
from that set forth in the Time of Sale Memorandum provided to prospective purchasers of
the Securities.

     (o) BDO Seidman, LLP and Ernst & Young LLP, who have audited certain financial
statements of the Company and delivered their report with respect to the audited
consolidated financial statements included in the Time of Sale Memorandum and the Final
Memorandum, are each an independent registered public accounting firm with respect to the
Company within the meaning of the Securities Act and the Exchange Act, and the applicable
published rules and regulations thereunder.

     (p) There are no legal or governmental proceedings pending or threatened to which the
Company or any of its subsidiaries is a party or to which any of the properties of the
Company or any of its subsidiaries is subject (i) other than proceedings accurately
described in all material respects in the Time of Sale Memorandum and the Final Memorandum
and proceedings that would not have a Material Adverse Effect, or a material adverse
effect on the power or ability of the Company or the Guarantors to perform their
respective obligations under this Agreement, the Indenture, the Registration Rights
Agreement or the Securities or to consummate the transactions contemplated by the Time of
Sale Memorandum.

     (q) [Reserved.]

     (r) Except as described in the Time of Sale Memorandum and the Final Memorandum,
subsequent to the respective dates as of which information is given in the Time of Sale
Memorandum and the Final Memorandum, (i) the Company and its subsidiaries have not
incurred any material liability or obligation, direct or contingent, nor entered into any
material transaction not in the ordinary course of business; (ii) the Company has not
purchased any of its outstanding capital stock, nor declared, paid or otherwise made any
dividend or distribution of any kind

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on its capital stock other than ordinary and
customary dividends; and (iii) there has not been any material change in the capital
stock, short-term debt or long-term debt of the Company and its subsidiaries, on a
consolidated basis.

     (s) Except as set forth in the Time of Sale Memorandum and the Final Memorandum, the
Company and its subsidiaries (i) are in compliance with any and all applicable foreign,
federal, state and local laws and regulations relating to the protection of human health
and safety, the environment or hazardous or toxic substances or wastes, pollutants or
contaminants (“Environmental Laws”), (ii) have received all permits, licenses or other
approvals required of them under applicable Environmental Laws to conduct their respective
businesses and (iii) are in compliance with all terms and conditions of any such permit,
license or approval, except where such noncompliance with Environmental Laws, failure to
receive required permits, licenses or other approvals or failure to comply with the terms
and conditions of such permits, licenses or approvals would not, singly or in the
aggregate, have a Material Adverse Effect.

     (t) Except as set forth in the Time of Sale Memorandum and the Final Memorandum,
there are no costs or liabilities associated with Environmental Laws (including, without
limitation, any capital or operating expenditures required for clean-up, closure of
properties or compliance with Environmental Laws or any permit, license or approval, any
related constraints on operating activities and any potential liabilities to third
parties) that would, singly or in the aggregate, have a Material Adverse Effect.

     (u) Neither the Company nor any of the Guarantors is, and after giving effect to the
offering and sale of the Securities and the application of the proceeds thereof as
described in the Time of Sale Memorandum and the Final Memorandum will be, required to
register as an “investment company” as such term is defined in the Investment Company Act
of 1940, as amended.

     (v) [Reserved.]

     (w) The Company and its subsidiaries have good and marketable title in fee simple to
all real property owned by them and good and marketable title to all personal property
owned by them which is material to the business of the Company and its subsidiaries, in
each case free and clear of all liens, encumbrances and defects, except such as are
described in the Time of Sale Memorandum and the Final Memorandum, or which would not,
singly or in the aggregate, materially affect the value of such property and do not
interfere with the use made and proposed to be made of such property by the Company and
its subsidiaries; and any real

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property and buildings held under lease by the Company and
its subsidiaries which are material to the business of the Company or any Guarantor are
held by them under valid, subsisting and enforceable leases with such exceptions as are
not material and do not interfere with the use made and proposed to be made of such
property and buildings by the Company and its subsidiaries, in each case except as set
forth in the Time of Sale Memorandum and the Final Memorandum.

     (x) The Company and its subsidiaries own or possess, or can acquire on reasonable
terms, all material patents, patent rights, licenses, inventions, copyrights, know-how
(including trade secrets and other unpatented and/or unpatentable proprietary or
confidential information, systems or procedures), trademarks, service marks and trade
names currently employed by them in connection with the business operated by them, and
neither the Company nor any of its subsidiaries has received any notice of infringement of
or conflict with asserted rights of others with respect to any of the foregoing which,
singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding,
would have a Material Adverse Effect.

     (y) Except as described in the Time of Sale Memorandum and the Final Memorandum, no
material labor dispute with the employees of the Company or any of its subsidiaries exists
or, to the knowledge of the Company and the Guarantors, is imminent; and the Company and
the Guarantors are not aware of any existing, threatened or imminent labor disturbance by
the employees of their principal suppliers, manufacturers or contractors that could have a
Material Adverse Effect.

     (z) The Company and each of its subsidiaries are insured by insurers of recognized
financial responsibility against such losses and risks and in such amounts as are prudent
and customary in the businesses in which they are engaged; neither the Company nor any of
its subsidiaries has been refused any insurance coverage sought or applied for, and
neither the Company nor any of its subsidiaries has any reason to believe that it will not
be able to renew its existing insurance coverage as and when such coverage expires or to
obtain similar coverage from similar insurers as
may be necessary to continue its business at a cost that would not have a Material
Adverse Effect, except as described in the Time of Sale Memorandum and the Final
Memorandum.

     (aa) Each of the Company and its subsidiaries possess all certificates,
authorizations and permits issued by the appropriate federal, state or foreign regulatory
authorities necessary to conduct their respective businesses, and neither the Company nor
any of its subsidiaries has received any notice of proceedings relating to the revocation
or modification of any such certificate, authorization or permit which, singly or in the
aggregate, if the subject of an unfavorable decision, ruling or

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finding, would have a
Material Adverse Effect, except as described in the Time of Sale Memorandum and the Final
Memorandum.

     (bb) The Company and each of its subsidiaries maintain a system of internal
accounting controls sufficient to provide reasonable assurance that (i) transactions are
executed in accordance with management’s general or specific authorizations; (ii)
transactions are recorded as necessary to permit preparation of financial statements in
conformity with generally accepted accounting principles and to maintain asset
accountability; (iii) access to assets is permitted only in accordance with management’s
general or specific authorization; and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and appropriate action is taken
with respect to any differences. Except as described in the Time of Sale Memorandum and
the Final Memorandum, since the end of the Company’s most recent audited fiscal year,
there has been (i) no material weakness in the Company’s internal control over financial
reporting (whether or not remediated) and (ii) no change in the Company’s internal control
over financial reporting that has materially affected, or is reasonably likely to
materially affect, the Company’s internal control over financial reporting.

     (cc) [Reserved.]

     (dd) None of the Company, the Guarantors or any affiliate (as defined in Rule 501(b)
of Regulation D under the Securities Act, an “Affiliate”) of the Company or the Guarantors
has directly, or through any agent, sold, offered for sale, solicited offers to buy or
otherwise negotiated in respect of, any security (as defined in the Securities Act) which
is or will be integrated with the sale of the Securities in a manner that would require
the registration under the Securities Act of the Securities or offered, solicited offers
to buy or sold the Securities by any form of general solicitation or general advertising
(as those terms are used in Regulation D under the Securities Act) or in any manner
involving a public offering within the meaning of Section 4(2) of the Securities Act.

     (ee) None of the Company, the Guarantors, their Affiliates or any person acting on
its or their behalf has engaged or will engage in any directed selling efforts (within the
meaning of Regulation S) with respect to the Securities and the Company, the Guarantors
and their Affiliates and any person acting on its or their behalf have complied and will
comply with the offering restrictions requirement of Regulation S, except no
representation, warranty or agreement is made by the Company or the Guarantors in this
paragraph with respect to the Placement Agent.

     (ff) It is not necessary in connection with the offer, sale and delivery of the
Securities to the Placement Agent in the manner contemplated by this Agreement to register
the Securities under the

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Securities Act or to qualify the Indenture under the Trust
Indenture Act of 1939, as amended.

     (gg) The Securities satisfy the requirements set forth in Rule 144A(d)(3) under the
Securities Act.

     2. Agreements to Sell and Purchase. The Company hereby agrees to sell to the Placement Agent,
and the Placement Agent, upon the basis of the representations and warranties herein contained, but
subject to the conditions hereinafter stated, agrees to purchase from the Company, the aggregate
principal amount of Notes set forth in Schedule I at a purchase price of 98.25% of the
principal amount thereof (the “Purchase Price”) plus accrued interest, if any, to the Closing Date.

     3. Terms of Offering. The Placement Agent has advised the Company and each Guarantor that it
will make an offering of the Securities purchased by it hereunder, as soon as practicable after
this Agreement is entered into as in its judgment is advisable.

     4. Payment and Delivery. Payment for the Securities shall be made to the Company in Federal
or other funds immediately available in New York City against delivery of such Securities for the
account of the Placement Agent at 10:00 a.m., New York City time, on January 31, 2007, or at such
other time on the same or such other date, not later than February 1, 2007, as shall be designated
in writing by you. The time and date of such payment are hereinafter referred to as the “Closing
Date.”

     The Securities shall be in definitive form and/or global form, as specified by the Placement
Agent, and registered in such names and in such denominations as the Placement Agent shall request
in writing not later than one full business day prior to the Closing Date. The Securities shall be
delivered to the Placement Agent on the Closing Date, with any transfer taxes payable in connection
with the transfer of the Securities to the Placement Agent duly paid, against payment of the
Purchase Price therefor plus accrued interest, if any, to the date of payment and delivery.

     5. Conditions to the Placement Agent’s Obligations. The obligations of the Placement Agent to
purchase and pay for the Securities on the Closing Date are subject to the following conditions:

     (a) Subsequent to the execution and delivery of this Agreement and on or prior to the
Closing Date:

     (i) there shall not have occurred any downgrading, nor shall any notice have
been given of any intended or potential downgrading or of any review for a
possible change that does not indicate the direction of the possible change, in
the rating accorded

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any of the securities of the Company or any of its
subsidiaries by any “nationally recognized statistical rating organization,” as
such term is defined for purposes of Rule 436(g)(2) under the Securities Act; and

     (ii) there shall not have occurred any change, or any development involving
a prospective change, in the condition, financial or otherwise, or in the
earnings, business or operations of the Company and its subsidiaries, taken as a
whole, from that set forth in the Time of Sale Memorandum (excluding any
amendments or supplements thereto) provided to the prospective purchasers of the
Securities that, in your judgment, is material and adverse and that makes it, in
your judgment, impracticable to market the Securities on the terms and in the
manner contemplated in the Time of Sale Memorandum.

     (b) The Placement Agent shall have received on the Closing Date a certificate dated
the Closing Date and signed by an executive officer of the Company to the effect set forth
in Section 5(a)(i) and to the effect that the representations and warranties of the
Company contained in this Agreement are true and correct as of the Closing Date and that
the Company has complied with all of the agreements and satisfied all of the conditions on
its part to be performed or satisfied hereunder on or before the Closing Date.

     The officer signing and delivering such certificate may rely upon the best of his or
her knowledge as to proceedings threatened.

     (c) The Placement Agent shall have received on the Closing Date a certificate dated
the Closing Date and signed by an executive officer of each Guarantor, to the effect that
the representations and
warranties of each such Guarantor contained in this Agreement are true and correct as
of the Closing Date and that each such Guarantor has complied with all of the agreements
and satisfied all of the conditions on its part to be performed or satisfied hereunder on
or before the Closing Date.

     Each such officer signing and delivering such certificate may rely upon the best of
his or her knowledge as to proceedings threatened.

     (d) The Placement Agent shall have received an opinion, dated the Closing Date, of
Greenberg Traurig, P.A., outside counsel for the Company and the Guarantors, substantially
in the form attached as Exhibit A-1. Such opinion shall be rendered to the
Placement Agent at the request of the Company and shall so state therein.

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     (e) The Placement Agent shall have received an opinion, dated the Closing Date, of
Holland & Hart LLP, outside Nevada counsel for the Guarantors which are incorporated in
Nevada, substantially in the form attached as Exhibit A-2. Such opinion shall be
rendered to the Placement Agent at the request of the Company and shall so state therein.

     (f) The Placement Agent shall have received an opinion, dated the Closing Date, of
Shearman & Sterling LLP, counsel for the Placement Agent, with respect to the issuance and
sale of the Securities and such other related matters as the Placement Agent may
reasonably require, and the Company and the Guarantors shall have furnished to such
counsel such documents as it may reasonably request for the purpose of enabling it to pass
upon such matters.

     (g) The Placement Agent shall have received on each of the date hereof and the
Closing Date letters, dated the date hereof or the Closing Date, as the case may be, in
form and substance satisfactory to the Placement Agent, from each of BDO Seidman and Ernst
& Young LLP, independent registered public accountants, containing statements and
information of the type ordinarily included in accountants’ “comfort letters” to
underwriters with respect to the financial statements and certain financial information
contained in or incorporated by reference into the Time of Sale Memorandum and the Final
Memorandum; provided that the letter delivered on the Closing Date shall use a “cut-off
date” not earlier than the date that is three business days prior to the Closing Date.

     (h) The Securities shall have been designated PORTAL securities in accordance with
the rules and regulations adopted by the National Association of Securities Dealers, Inc.
relating to trading in the
PORTAL market and the Securities shall be eligible for clearance and settlement
through The Depository Trust Company.

     (i) The Registration Rights Agreement shall have been executed and delivered by the
parties thereto.

     (j) The Placement Agent shall have received on the Closing Date an opinion of Albert
de Cardenas, Esq., inside counsel for the Company, dated the Closing Date, to the effect
that (i) the Company is duly qualified to transact business and is in good standing in
each jurisdiction in which the conduct of its business or its ownership or leasing of
property requires such qualification, except to the extent that the failure to be so
qualified or be in good standing would not have a Material Adverse Effect, (ii) each
Guarantor is duly qualified to transact business and is in good standing in each
jurisdiction in which the conduct of its business or its ownership or leasing of property
requires such qualification, except to the extent that the failure to be so qualified or
be in good standing would not have a Material Adverse Effect, and (iii) the

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statements relating to legal matters, documents or proceedings included in the Time of
Sale Memorandum and the Final Memorandum under the caption “Business – Legal Proceedings”
fairly summarize in all material respects such matters, documents or proceedings.

     (k) [Reserved.]

     (l) The Placement Agent shall have received such other documents and certificates as
are reasonably requested by the Placement Agent or its counsel.

     6. Covenants of the Company and Guarantors. In further consideration of the agreements of the
Placement Agent contained in this Agreement, the Company and each Guarantor, jointly and severally,
covenants with the Placement Agent as follows:

     (a) To furnish to the Placement Agent in New York City, without charge, prior to
10:00 a.m. New York City time on the business day next succeeding the date of this
Agreement and during the period mentioned in Section 6(c) and 6(d), as many copies of the
Time of Sale Memorandum, the Final Memorandum, any documents incorporated by reference
therein and any supplements and amendments thereto as the Placement Agent may reasonably
request.

     (b) Before amending or supplementing the Preliminary Memorandum, the Time of Sale
Memorandum or the Final Memorandum, to furnish to you a copy of each such proposed
amendment or supplement and not to use any such proposed amendment or supplement to which
you reasonably object.

     (c) To furnish you a copy of each proposed Additional Written Offering Communication
to be prepared by or on behalf of, used by, or referred to by the Company and not to use
or refer to any proposed Additional Written Offering Communication to which you reasonably
object.

     (d) If the Time of Sale Memorandum is being used to solicit offers to buy the
Securities at a time when the Final Memorandum is not yet available to prospective
purchasers and any event shall occur or condition exist as a result of which it is
necessary to amend or supplement the Time of Sale Memorandum in order to make the
statements therein, in the light of the circumstances under which they were made, not
misleading, or if, in the opinion of counsel for the Placement Agent, it is necessary to
amend or supplement the Time of Sale Memorandum to comply with applicable law, forthwith
to prepare and furnish, at its own
expense, to the Placement Agent and to any dealer upon request, either amendments or
supplements to the Time of Sale Memorandum so that the

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statements in the Time of Sale Memorandum as so amended or supplemented will not, in
the light of the circumstances when delivered to a prospective purchaser, be misleading or
so that the Time of Sale Memorandum, as amended or supplemented, will comply with
applicable law.

     (e) If, during such period after the date hereof and prior to the date on which all
of the Securities shall have been sold by the Placement Agent, any event shall occur or
condition exist as a result of which it is necessary to amend or supplement the Final
Memorandum in order to make the statements therein, in the light of the circumstances when
the Final Memorandum is delivered to a purchaser, not misleading, or if, in the opinion of
counsel for the Placement Agent, it is necessary to amend or supplement the Final
Memorandum to comply with applicable law, forthwith to prepare and furnish, at its own
expense, to the Placement Agent, either amendments or supplements to the Final Memorandum
so that the statements in the Final Memorandum as so amended or

     supplemented will not, in the light of the circumstances when the Final Memorandum is
delivered to a purchaser, be misleading or so that the Final Memorandum, as amended or
supplemented, will comply with applicable law.

     (f) To endeavor to cooperate with the Placement Agent and its counsel to qualify the
Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions
as you shall reasonably request.

     (g) [Reserved.]

     (h) Whether or not the transactions contemplated in this Agreement are consummated or
this Agreement is terminated, to pay or cause to be paid all expenses incident to the
performance of its obligations under this Agreement, including: (i) the fees,
disbursements and expenses of the Company’s and the Guarantors’ counsel and the Company’s
and the Guarantors’ accountants in connection with the issuance and sale of the Securities
and all other fees or expenses in connection with the preparation of the Time of Sale
Memorandum, the Preliminary Memorandum and the Final Memorandum, any Additional Written
Offering Communication prepared by or on behalf of, used by, or referred to by the Company
and any amendments and supplements to any of the foregoing, including all printing costs
associated therewith, and the delivering of copies thereof to the Placement Agent, in the
quantities herein above specified, (ii) all costs and expenses related to the transfer and
delivery of the Securities to the Placement Agent, including any transfer or other taxes
payable thereon, (iii) the cost of printing or producing any Blue Sky or legal investment
memorandum in connection with the offer and sale of the Securities under state securities
laws and all expenses in connection with the qualification of the Securities for offer and
sale under state securities laws as provided

14

 

in Section 6(e) hereof, including filing fees and the reasonable fees and
disbursements of counsel for the Placement Agent in connection with such qualification and
in connection with the Blue Sky or legal investment memorandum, (iv) any fees charged by
rating agencies for the rating of the Securities, (v) the fees and expenses, if any,
incurred in connection with the admission of the Securities for trading in PORTAL or any
appropriate market system, (vi) the costs and charges of the Trustee and any transfer
agent, registrar or depositary, (vii) the cost of the preparation, issuance and delivery
of the Securities, (viii) the costs and expenses of the Company and the Guarantors
relating to investor presentations on any “road show” undertaken in connection with the
marketing of the offering of the Securities, including, without limitation, expenses
associated with the preparation or dissemination of any electronic road show, expenses
associated with production of road show slides and graphics, fees and expenses of any
consultants engaged in connection with the road show presentations with the prior approval
of the Company, travel and lodging expenses of the representatives and officers of the
Company and the Guarantors and any such consultants, and the cost of any aircraft
chartered in connection with the road show, one-half of which aircraft charter cost shall
be reimbursed to the Company by the Placement Agent and (ix) all other costs and expenses
incident to the performance of the obligations of the Company and the Guarantors hereunder
for which provision is not otherwise made in this Section. It is understood, however,
that except as provided in this Section 6, Section 9, and the last paragraph of Section
11, the Placement Agent will pay all of its costs and expenses, including fees and
disbursements of its counsel, transfer taxes payable on resale of any of the Securities by
them and any advertising expenses connected with any offers it may make.

     (i) That none of the Company, the Guarantors nor any of their Affiliates will sell,
offer for sale or solicit offers to buy or otherwise negotiate in respect of any security
(as defined in the Securities Act) which could be integrated with the sale of the
Securities in a manner which would require the registration of the Securities under the
Securities Act.

     (j) That none of the Company, the Guarantors nor any of their Affiliates will solicit
any offer to buy or offer or sell the Securities by means of any form of general
solicitation or general advertising (as those terms are used in Regulation D under the
Securities Act) or in any manner involving a public offering within the meaning of Section
4(2) of the Securities Act.

     (k) While any of the Securities remain “restricted securities” within the meaning of
the Securities Act, to make available, upon request, to any seller of such Securities the
information specified in Rule

15

 

144A(d)(4) under the Securities Act, unless the Company is then subject to Section 13
or 15(d) of the Securities Exchange Act.

     (l) That none of the Company, the Guarantors nor any of their Affiliates nor any
person acting on its or their behalf (other than the Placement Agent) will engage in any
directed selling efforts (as that term is defined in Regulation S) with respect to the
Securities, and each of the Company, the Guarantors and their Affiliates and each person
acting on its or their behalf (other than the Placement Agent) will comply with the
offering restrictions requirement of Regulation S.

     (m) During the period of two years after the Closing Date, the Company will not, and
will not permit any of its affiliates (as defined in Rule 144 under the Securities Act),
to resell any of the Securities which constitute “restricted securities” under Rule 144
that have been reacquired by any of them.

     (n) That none of the Company or the Guarantors will take any action prohibited by
Regulation M under the Exchange Act in connection with the distribution of the Securities
contemplated hereby.

     The Company also agrees that, without the prior written consent of the Placement Agent, it
will not, during the period beginning on the date hereof and continuing to and including the
Closing Date, offer, sell, contract to sell or otherwise dispose of any debt securities of the
Company or warrants to purchase debt securities of the Company substantially similar to the Notes
(other than the sale of the Notes under this Agreement).

     7. [Reserved.]

          8. Offering of Securities; Restrictions on Transfer. (a) The Placement Agent represents and
warrants that it is a qualified institutional buyer as defined in Rule 144A under the Securities
Act (a “QIB”). The Placement Agent agrees with the Company that (i) it will not solicit offers
for, or offer or sell, such Securities by any form of general solicitation or general advertising
(as those terms are used in Regulation D under the Securities Act) or in any manner involving a
public offering within the meaning of Section 4(2) of the Securities Act and (ii) it will solicit
offers for such Securities only from, and will offer such Securities only to, persons that it
reasonably believes to be (A) in the case of offers inside the United States, QIBs and (B) in the
case of offers outside the United States, to persons other than U.S. persons (“foreign purchasers,”
which term shall include dealers or other professional fiduciaries in the United States acting on a
discretionary basis for foreign beneficial owners (other than an estate or trust)) in reliance upon
Regulation S under the Securities Act that, in each case, in purchasing such Securities are deemed
to have represented and agreed as provided in the Final Memorandum under the caption “Transfer
Restrictions.”

16

 

     (b) The Placement Agent represents, warrants, and agrees with respect to offers and sales
outside the United States that:

     (i) the Placement Agent understands that no action has been or will be taken in any
jurisdiction by the Company or the Guarantors that would permit a public offering of the
Securities, or possession or distribution of the Preliminary Memorandum, the Time of Sale
Memorandum, the Final Memorandum or any other offering or publicity material relating to
the Securities, in any country or jurisdiction where action for that purpose is required;

     (ii) the Placement Agent will comply with all applicable laws and regulations in each
jurisdiction in which it acquires, offers, sells or delivers Securities or has in its
possession or distributes the Preliminary Memorandum, the Time of Sale Memorandum, the
Final Memorandum or any such other material, in all cases at its own expense;

     (iii) the Securities have not been registered under the Securities Act and may not be
offered or sold within the United States or to, or for the account or benefit of, U.S.
persons except in accordance with Rule 144A or Regulation S under the Securities Act or
pursuant to another exemption from the registration requirements of the Securities Act;

     (iv) the Placement Agent has offered the Securities and will offer and sell the
Securities (A) as part of their distribution at any time and (B) otherwise until 40 days
after the later of the commencement of the offering and the Closing Date, only in
accordance with Rule 903 of Regulation S or as otherwise permitted in Section 8(a);
accordingly, neither the Placement Agent, its Affiliates nor any persons acting on its or
their behalf have engaged or will engage in any directed selling efforts (within the
meaning of Regulation S) with respect to the Securities, and any such Placement Agent, its
Affiliates and any such persons have complied and will comply with the offering
restrictions requirement of Regulation S;

     (v) such Placement Agent, in relation to each Member State of the European Economic
Area which has implemented the Prospectus Directive (each, a “Member State”), has
represented and agreed that with effect from and including the date on which the
Prospectus Directive is implemented in that Member State it has not made and will not
make an offer of Securities to the public in that Member State, except that it may, with
effect from and including such date, make an offer of Securities to the public in that
Member State:

	 	(a)	 	at any time to legal entities which are authorized
or regulated to operate in the financial markets or, if not so

17

 

	 	 	 	authorised or regulated, whose corporate purpose is solely to invest
in securities;
	 
	 	(b)	 	at any time to any legal entity which has two or
more of (1) an average of at least 250 employees during the last
financial year; (2) a total balance sheet of more than €43,000,000 and
(3) an annual net turnover of more than €50,000,000, as shown in its
last annual or consolidated accounts; or
	 
	 	(c)	 	at any time in any other circumstances which do not
require the publication by us of a prospectus pursuant to Article 3 of
the Prospectus Directive.

For the purposes of the above, the expression an “offer of Securities to the public”
in relation to any Securities in any Member State means the communication in any form and
by any means of sufficient information on the terms of the offer and the Securities to be
offered so as to enable an investor to decide to purchase or subscribe the Securities, as
the same may be varied in that Member State by any measure implementing the Prospectus
Directive in that Member State and the expression Prospectus Directive means
Directive 2003/71/EC and includes any relevant implementing measure in that Member State;

     (vi) such Placement Agent has represented and agreed that it has only communicated or
caused to be communicated and will only communicate or cause to be communicated an
invitation or inducement to engage in investment activity (within the meaning of section
21 the Financial Services and Markets Act 2000) in connection with the issue or sale of
the Securities in circumstances in which section 21(1) of such Act does not apply to us
and it has complied and will comply with all applicable provisions of such Act with
respect to anything done by it in relation to any Securities in, from or otherwise
involving the United Kingdom; and

     (viii) such Placement Agent agrees that, at or prior to confirmation of sales of the
Securities, it will have sent to each distributor, dealer or person receiving a selling
concession, fee or other remuneration that purchases Securities from it during the
restricted period a confirmation or notice to substantially the following effect:

     “The Securities covered hereby have not been registered under the U.S.
Securities Act of 1933 (the “Securities Act”) and may not be offered and sold
within the United States or to, or for the account or benefit of, U.S. persons
(i) as part of their distribution at any time or (ii) otherwise until 40 days
after the later of the commencement of the offering and the closing date, except

18

 

in either case in accordance with Regulation S (or Rule 144A if available)
under the Securities Act. Terms used above have the meaning given to them by
Regulation S.”

     Terms used in this Section 8(b) have the meanings given to them by Regulation S.

     9. Indemnity and Contribution. (a) The Company and each Guarantor, jointly and severally,
agrees to indemnify and hold harmless the Placement Agent, each person, if any, who controls the
Placement Agent within the meaning of either Section 15 of the Securities Act or Section 20 of the
Exchange Act, and each affiliate of the Placement Agent within the meaning of Rule 405 under the
Securities Act from and against any and all losses, claims, damages and liabilities (including,
without limitation, any legal or other expenses reasonably incurred in connection with defending or
investigating any such action or claim caused by any untrue statement or alleged untrue statement
of a material fact contained in the Preliminary Memorandum, the Time of Sale Memorandum, any
Additional Written Offering Communication prepared by or on behalf of, used by, or referred to by
the Company, or the Final Memorandum or any amendment or supplement thereto, or caused by any
omission or alleged omission to state therein a material fact necessary to make the statements
therein in the light of the circumstances under which they were made not misleading, except insofar
as such losses, claims, damages or liabilities are caused by any such untrue statement or omission
or alleged untrue statement or omission based upon information relating to the Placement Agent
furnished to the Company in writing by the Placement Agent expressly for use therein.

     (b) The Placement Agent agrees to indemnify and hold harmless the Company and each Guarantor,
their directors, their officers and each person, if any, who controls the Company within the
meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same
extent as the foregoing indemnity from the Company and the Guarantors to the Placement Agent, but
only with reference to information relating to the Placement Agent furnished to the Company in
writing by the Placement Agent expressly for use in the Preliminary Memorandum, the the Time of
Sale Memorandum, any Additional Written Offering Communication prepared by or on behalf of, used by
or referred to by the Company, or the Final Memorandum or any amendment or supplement thereto.

     (c) In case any proceeding (including any governmental investigation) shall be instituted
involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b),
such person (the “indemnified party”) shall promptly notify the person against whom such indemnity
may be sought (the “indemnifying party”) in writing and the indemnifying party, upon request of the
indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to
represent the indemnified party and any others the indemnifying party may designate in such
proceeding and shall pay the fees and disbursements of

19

 

such counsel related to such proceeding. In any such proceeding, any indemnified party shall
have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the
expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall
have mutually agreed to the retention of such counsel or (ii) the named parties to any such
proceeding (including any impleaded parties) include both the indemnifying party and the
indemnified party and representation of both parties by the same counsel would be inappropriate due
to actual or potential differing interests between them. It is understood that the indemnifying
party shall not, in respect of the legal expenses of any indemnified party in connection with any
proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of
more than one separate firm (in addition to any local counsel) for all such indemnified parties and
that all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be
designated in writing by the Placement Agent, in the case of parties indemnified pursuant to
Section 9(a), and by the Company, in the case of parties indemnified pursuant to Section 9(b). The
indemnifying party shall not be liable for any settlement of any proceeding effected without its
written consent, but if settled with such consent or if there be a final judgment for the
plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any
loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing
sentence, if at any time an indemnified party shall have requested an indemnifying party to
reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and
third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any
settlement of any proceeding effected without its written consent if (i) such settlement is entered
into more than 30 days after receipt by such indemnifying party of the aforesaid request and (ii)
such indemnifying party shall not have reimbursed the indemnified party in accordance with such
request prior to the date of such settlement. No indemnifying party shall, without the prior
written consent of the indemnified party, effect any settlement of any pending or threatened
proceeding in respect of which any indemnified party is or could have been a party and indemnity
could have been sought hereunder by such indemnified party, unless such settlement includes an
unconditional release of such indemnified party from all liability on claims that are the subject
matter of such proceeding.

          (d) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to
an indemnified party or insufficient in respect of any losses, claims, damages or liabilities
referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying
such indemnified party thereunder, shall contribute to the amount paid or payable by such
indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion
as is appropriate to reflect the relative benefits received by the Company and the Guarantors on
the one hand and the Placement Agent on the other hand from the offering of the Securities or (ii)
if the allocation provided by clause 9(d)(i) above is not permitted by applicable law, in such
proportion as is appropriate to reflect not only the relative benefits referred to in clause
9(d)(i) above but also the

20

 

relative fault of the Company and the Guarantors on the one hand and of the Placement Agent on
the other hand in connection with the statements or omissions that resulted in such losses, claims,
damages or liabilities, as well as any other relevant equitable considerations. The relative
benefits received by the Company and the Guarantors on the one hand and the Placement Agent on the
other hand in connection with the offering of the Securities shall be deemed to be in the same
respective proportions as the net proceeds from the offering of the Securities (before deducting
expenses) received by the Company and the Guarantors and the total discounts and commissions
received by the Placement Agent, in each case as set forth in the Time of Sale Memorandum and the
Final Memorandum, bear to the aggregate offering price of the Securities. The relative fault of the
Company and the Guarantors on the one hand and of the Placement Agent on the other hand shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact relates to information
supplied by the Company or the Guarantors or by the Placement Agent and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such statement or
omission.

          (e) The Company and each Guarantor and the Placement Agent agree that it would not be just or
equitable if contribution pursuant to this Section 9 were determined by pro rata allocation or by
any other method of allocation that does not take account of the equitable considerations referred
to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses,
claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to
the limitations set forth above, any legal or other expenses reasonably incurred by such
indemnified party in connection with investigating or defending any such action or claim.
Notwithstanding the provisions of this Section 9, the Placement Agent shall not be required to
contribute any amount in excess of the amount by which the total price at which the Securities
resold by it in the initial placement of such Securities were offered to investors exceeds the
amount of any damages that the Placement Agent has otherwise been required to pay by reason of such
untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies
provided for in this Section 9 are not exclusive and shall not limit any rights or remedies that
may otherwise be available to any indemnified party at law or in equity.

          (f) The indemnity and contribution provisions contained in this Section 9 and the
representations, warranties and other statements of the Company and the Guarantors contained in
this Agreement shall remain operative and in full force and effect regardless of (i) any
termination of this Agreement, (ii) any investigation made by or on behalf of the Placement Agent,
any person controlling the Placement Agent or any affiliate of the Placement Agent or by or

21

 

on behalf of the Company and the Guarantors, their officers or directors or any person
controlling the Company or the Guarantors and (iii) acceptance of and payment for any of the
Securities.

          10. Termination. The Placement Agent may terminate this Agreement by notice given by you to
the Company if, after the execution and delivery of this Agreement and prior to the Closing Date,
(i) trading generally shall have been suspended or materially limited on, or by, as the case may
be, any of the New York Stock Exchange, the American Stock Exchange or the NASDAQ Global Market,
the Chicago Board of Options Exchange, the Chicago Mercantile Exchange or the Chicago Board of
Trade, (ii) trading of any securities of the Company shall have been suspended on any exchange or
in any over-the-counter market, (iii) a material disruption in securities settlement, payment or
clearance services in the United States shall have occurred, (iv) any moratorium on commercial
banking activities shall have been declared by Federal or New York State authorities or (v) there
shall have occurred any outbreak or escalation of hostilities, or any change in financial markets
or any calamity or crisis that, in the Placement Agent’s judgment, is material and adverse and
which, singly or together with any other event specified in this clause (v), makes it, in the
Placement Agent’s judgment, impracticable or inadvisable to proceed with the offer, sale or
delivery of the Securities on the terms and in the manner contemplated in the Time of Sale
Memorandum and the Final Memorandum.

          11. Effectiveness. This Agreement shall become effective upon the execution and delivery
hereof by the parties hereto.

     If this Agreement shall be terminated by the Placement Agent because of any failure or refusal
on the part of the Company or the Guarantors to comply with the terms or to fulfill any of the
conditions of this Agreement, or if for any reason the Company or the Guarantors shall be unable to
perform their respective obligations under this Agreement, the Company and the Guarantors will
reimburse the Placement Agent for all out-of-pocket expenses (including the fees and disbursements
of their counsel) reasonably incurred by the Placement Agent in connection with this Agreement or
the offering contemplated hereunder.

     12. Entire Agreement. (a) This Agreement, together with any contemporaneous written agreements
and any prior written agreements (to the extent not superseded by this Agreement) that relate to
the offering of the Securities, represents the entire agreement between the Company and the
Placement Agent with respect to the preparation of the Preliminary Memorandum, the Time of Sale
Memorandum or the Final Memorandum, the conduct of the offering, and the purchase and sale of the
Securities.

     (b) The Company acknowledges that in connection with the offering of the Securities: (i) the
Placement Agent has acted at arms length, is not an agent of, and owes no fiduciary duties to, the
Company, the Guarantors or any other person, (ii) the Placement Agent owes the Company and the
Guarantors only

22

 

those duties and obligations set forth in this Agreement and (iii) the Placement Agent may have
interests that differ from those of the Company and the Guarantors. The Company and each Guarantor
waives to the full extent permitted by applicable law any claims it may have against the Placement
Agent arising from an alleged breach of fiduciary duty in connection with the offering of the
Securities.

     13. Notices. All communications hereunder shall be in writing and shall be mailed, hand
delivered or telecopied and confirmed to the parties hereto as follows:

     If to the Placement Agent:

Morgan Stanley & Co. Incorporated.

1585 Broadway

New York, NY 10036

Facsimile: 212-761-0781

Attention: High Yield Syndicate Desk

     with a copy to the Legal Department.

     If to the Company:

MasTec, Inc.

800 S. Douglas Road, 12th Floor

Coral Gables, FL 33134

Facsimile: (305) 406 — 1907

Attention: Alberto de Cardenas, Esq.

          Any party hereto may change the address for receipt of communications by giving written notice
to the others.

     15. Counterparts. This Agreement may be signed in any number of counterparts, each of which
shall be an original, with the same effect as if the signatures thereto and hereto were upon the
same instrument.

     16. Applicable Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
INTERNAL LAWS OF THE STATE OF NEW YORK.

     17. Headings. The headings of the sections of this Agreement have been inserted for
convenience of reference only and shall not be deemed a part of this Agreement.

23

 

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	MASTEC, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: EVP, General Counsel and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	CHURCH & TOWER, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: EVP, General Counsel and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	MASTEC ASSET MANAGEMENT COMPANY, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: EVP, General Counsel and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	MASTEC BRAZIL I, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: EVP, General Counsel and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	MASTEC BRAZIL II, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: EVP, General Counsel and Secretary	 	 

 

 

	 	 	 	 	 	 	 
	 	 	MASTEC CONTRACTING COMPANY, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: VP	 	 
	 
	 	 	 	 	 	 
	 	 	MASTEC FC, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: EVP, General Counsel and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	MASTEC LATIN AMERICA, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: EVP, General Counsel and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	MASTEC NORTH AMERICA AC, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: EVP, General Counsel and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	MASTEC NORTH AMERICA, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: EVP, General Counsel and Secretary	 	 

 

 

	 	 	 	 	 	 	 
	 	 	MASTEC OF TEXAS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: EVP, General Counsel and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	MASTEC SERVICES COMPANY, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: EVP, General Counsel and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	MASTEC SPAIN, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: EVP, General Counsel and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	MASTEC TC, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: EVP, General Counsel and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	MASTEC VENEZUELA, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alberto de Cardenas	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Name: Alberto de Cardenas	 	 
	 	 	Title: EVP, General Counsel and Secretary	 	 

 

 

	 	 	 	 	 	 	 
	 	Accepted as of the date hereof	 	 
	 	 	 	 	 	 
	 	Morgan Stanley & Co. Incorporated	 	 
	 	 	 	 	 	 
	 

	By:
	/s/ Kenneth G. Pott	 	 
	 

	 	 	 	 
	 	Name: Kenneth G. Pott	 	 
	 	Title: Managing Director	 	 

 

 

SCHEDULE I

	 	 	 	 	 
	 	 	Aggregate
	 	 	Principal Amount
	 	 	of Securities to be
	Placement Agent	 	Purchased
	Morgan Stanley & Co. Incorporated

	 	$	150,000,000	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	Total:

	 	$	150,000,000	 
	 

	 	 	 	 

Schedule I -1

 

 

SCHEDULE II

Subsidiary Guarantors

	 	 	 
	 	 	Jurisdiction of
	Company	 	Formation
	Church & Tower, Inc.

	 	FL
	MasTec Asset Management Company, Inc.

	 	NV
	MasTec Brazil I, Inc.

	 	FL
	MasTec Brazil II, Inc.

	 	FL
	MasTec Contracting Company, Inc.

	 	NV
	MasTec FC, Inc.

	 	NV
	MasTec Latin America, Inc.

	 	DE
	MasTec North America AC, LLC

	 	FL
	MasTec North America, Inc.

	 	FL
	MasTec of Texas, Inc.

	 	TX
	MasTec Services Company, Inc. (f/k/a Central America Construction, Inc.)

	 	FL
	MasTec Spain, Inc.

	 	FL
	MasTec TC, Inc.

	 	NV
	MasTec Venezuela, Inc.

	 	FL

Schedule II -1

 

 

SCHEDULE III

PRICING SUPPLEMENT

Issued January 24, 2007

MasTec, Inc.

$150,000,000 7.625% SENIOR NOTES DUE 2017

 

Pricing Supplement dated January 24, 2007 to preliminary Offering Memorandum dated January 16,
2007 of MasTec, Inc. (“MasTec”).

This Pricing Supplement is qualified in its entirety by reference to the preliminary Offering
Memorandum. The information in this Pricing Supplement supplements the preliminary Offering
Memorandum.

Unless otherwise indicated, terms used but not defined herein have the meanings assigned to such
terms in the preliminary Offering Memorandum.

	 	 	 
	Issuer:

	 	MasTec, Inc., a corporation organized under the laws of Florida.
	 
	 	 
	Notes Offered:

	 	$150,000,000 aggregate principal amount of 7.625% senior notes due 2017
(the “Notes”).
	 
	 	 
	Maturity:

	 	The Notes will mature on February 1, 2017.
	 
	 	 
	Issue Price:

	 	100% per Note and accrued interest, if any.
	 
	 	 
	Interest:

	 	The Notes will bear interest at 7.625% per annum, semi-annually in arrears.

	 
	 	 
	Interest
Payment
Dates:

	 	Interest on the Notes will be paid
semi-annually in arrears on each of February 1 and August 1, beginning on August 1, 2007.
	 
	 	 
	 

	 	Interest on the notes will accrue from the date of issuance.
	 
	 	 
	Record Dates:

	 	The record dates for the Notes will be January 15 and July 15 of each year
until maturity.
	 
	 	 
	Trade Date:

	 	January 24, 2007
	 
	 	 
	Settlement 

Date:

	 	We expect that delivery of the Notes will be made to investors in
book-entry form through the facilities of The Depository Trust Company on
or about January 31, 2007, which will be the fifth business day following
the date of pricing of the Notes or T+5. Under Rule 15c6-1 of the
Securities Exchange Act of 1934, trades in the secondary market generally
are required to settle in three business days, unless the parties to any
such trade expressly agree otherwise. Accordingly, purchasers who wish to
trade such Notes prior to the delivery of the Notes hereunder will be
required, by virtue of the fact that such Notes

Exhibit III-I

 

 

	 	 	 
	 

	 	initially will settle on
T+5, to specify an alternate settlement cycle at the time of any such
trade to prevent a failed settlement. Purchasers of Notes who wish to
trade Notes prior to their date of delivery hereunder should consult their
own advisors.
	 
	 	 
	Optional 

Redemption:

	 	The Issuer may redeem the Notes, in whole or in part, at any time on or
after February 1, 2012. The redemption price for the Notes (expressed as a
percentage of principal amount) will be as follows, plus accrued and
unpaid interest, if any, to the redemption date, if redeemed during the
12-month period commencing on February 1 of any year set forth below:

	 	 	 	 	 
	Year	 	Redemption Price
	2012

	 	 	103.813	%
	2013

	 	 	102.542	%
	2014

	 	 	101.271	%
	2015 and thereafter

	 	 	100.000	%

	 	 	 
	 

	 	In addition, at any time prior to February 1, 2010, the Issuer may redeem
up to 35% of the principal amount of the Notes with the Net Cash Proceeds
of one or more sales of Capital Stock (other than Disqualified Stock) of
the Issuer at a redemption price (expressed as a percentage of principal
amount) of 107.625%, plus accrued and unpaid interest to the redemption
date; provided that at least 65% of the aggregate principal amount of the
Notes originally issued on the Settlement Date remains outstanding after
each such redemption (excluding Notes held by the Issuer and its
Subsidiaries) and notice of any such redemption is mailed within 60 days
of each such sale of Capital Stock.
In addition, at any time prior to February 1, 2012, the Issuer may redeem
all or a part of the Notes at a redemption price equal to 100% of the
principal amount of Notes redeemed plus the Applicable Premium (calculated
using, to the extent applicable, a discount rate of T+50) as of, and
accrued and unpaid interest, if any, to, the redemption date, subject to
the rights of holders of notes on the relevant record date to receive
interest due on the relevant interest payment date.
	 
	 	 
	Registration 

Rights:

	 	We and the guarantors are obligated to use commercially reasonable efforts
to offer to exchange the notes under the Securities Act or otherwise
register the resale of the notes no later than nine months after the
closing of this offering. If this requirement is not met, then the annual
interest rate borne by the Notes will be increased by 0.25% over the rate
shown above for the first 90 days following the end of such period and by
an additional 0.25% for each subsequent 90-day period, up to a maximum of
1.0% over the rate shown above until all such registration defaults are
cured. Holders who do not participate in the exchange offer or in the
registration may thereafter hold a less liquid security than holders who
do participate.
	 
	 	 
	CUSIP:

	 	Notes sold under Rule 144A: 576323AE9
	 

	 	Notes sold under Regulation S: U5759TAB1
	ISIN:

	 	Notes sold under Rule 144A: US576323AE94
	 

	 	Notes sold under Regulation S: USU5759TAB18

Exhibit III-I

 

 

EXHIBIT A-1

FORM OF LEGAL OPINIONS OF GREENBERG TRAURIG, P.A.

     The opinion of the counsel for the Company, to be delivered pursuant to Section 5(c) of the
Placement Agreement shall be to the effect that:

	 	A.	 	The Company has been duly incorporated, is validly existing as a corporation in
good standing under the laws of the jurisdiction of its incorporation, has the
corporate power and authority to own its property and to conduct its business as
described in the Time of Sale Memorandum and the Final Memorandum.
	 
	 	B.	 	Each Guarantor has been duly incorporated, is validly existing as a corporation
in good standing under the laws of the jurisdiction of its incorporation, has the
corporate power and authority to own its property and to conduct its business as
described in the Time of Sale Memorandum and the Final Memorandum. With respect to
each of the Guarantors listed on Schedule II, such Guarantor’s authorized capital stock
or limited liability company interests is as set forth on Exhibit A, and based solely
on our review of such Guarantor’s stock ledger, the Company is the direct or indirect
owner of record of the shares of such Guarantor’s capital stock or limited liability
company interests as set forth on Exhibit A.
	 
	 	C.	 	The Notes have been duly authorized by the Company and, when executed and
authenticated in accordance with the provisions of the Indenture and delivered to and
paid for by the Placement Agent in accordance with the terms of the Placement
Agreement, will be valid and binding obligations of the Company, enforceable in
accordance with their terms, subject to the Enforceability Limitations and will be
entitled to the benefits of the Indenture pursuant to which such Securities are to be
issued.
	 
	 	D.	 	Each of the Placement Agreement, the Indenture and the Registration Rights
Agreement has been duly authorized, executed and delivered by, and each of the
Indenture and the Registration Rights Agreement is a valid and binding agreement of,
the Company, enforceable in accordance with its terms, subject to the Enforceability
Limitations.
	 
	 	E.	 	The Guarantees have been duly authorized, executed and delivered by, and the
Guarantees are a valid and binding agreement of, each Guarantor, enforceable in
accordance with their terms, subject to the Enforceability Limitations.
	 
	 	F.	 	The execution and delivery by the Company and the Guarantors of, and the
performance by the Company and the Guarantors of their respective obligations under,
the Placement Agreement, the Indenture, the Registration Rights Agreement and the
Securities will not contravene (i) any provision of any statute or governmental rule or
regulation which, in our experience, is normally applicable both to general business
corporations that are not engaged in regulated business activities and to transactions
of the type contemplated by the Final Memorandum (but without our having made any
special investigation as to other laws and provided that we express

Exhibit A-1

 

 

	 	 	 	no opinion in this paragraph with respect to (a) any laws, rules or regulations to which
the Company or the Guarantors may be subject as a result of the Placement Agent’s legal
or regulatory status or the involvement of the Placement Agent in such transactions, (b)
any laws, rules or regulations relating to misrepresentations of fraud; (ii) the
certificate of incorporation or by-laws of the Company or such Guarantor, as the case
may be, (iii) any agreement that is an exhibit to the Company’s Form 10-K for the year
ended December 31, 2005 or that has been filed with the SEC subsequent thereto (provided
that we express no opinion as to any financial test or cross-default provision in any
such agreement), or, (iv) to our actual knowledge, any judgment, order or decree of any
governmental body, agency or court having jurisdiction over the Company, such Guarantor
or any subsidiary, and no consent, approval, authorization or order of, or qualification
with, any governmental body or agency is required for the performance by the Company or
any Guarantor of its respective obligations under the Placement Agreement, the
Indenture, the Registration Rights Agreement or the Securities, except such as may be
required by the securities or Blue Sky laws of the various states in connection with the
offer and sale of the Securities.
	 
	 	G.	 	The Exchange Notes have been duly authorized, and when executed, authenticated
and issued in accordance with the terms of the Indenture pursuant to which such
Exchange Notes are to be issued, and delivered in accordance with the terms of the
Exchange Offer and the Placement Agreement, such Exchange Notes will be valid and
legally binding obligations of the Company, entitled to the benefits of the Indenture
pursuant to which such Exchange Notes are to be issued, and enforceable against the
Company in accordance with their terms, subject to the Enforceability Limitations.
	 
	 	H.	 	We have no actual knowledge of any legal or governmental proceeding that is
pending or threatened against the Company or any of its subsidiaries that has caused us
to conclude that such proceeding would be required to be described by Item 103 of
Regulation S-K under the Securities Act but is not so described in the Time of Sale
Memorandum.
	 
	 	I.	 	The Company is not, and after giving effect to the offering and sale of the
Securities and the application of the proceeds thereof as described in the Time of Sale
Memorandum and the Final Memorandum will not be, required to register as an “investment
company” as such term is defined in the Investment Company Act of 1940, as amended.
	 
	 	J.	 	The statements relating to legal matters, documents or proceedings included in
the Time of Sale Memorandum and the Final Memorandum under the captions “Description of
the Notes,” “Description of Other Indebtedness,” and “Transfer Restrictions,” in each
case fairly summarize in all material respects such matters or documents.
	 
	 	K.	 	The statements in the Time of Sale Memorandum and the Final Memorandum under
the caption “Tax Matters,” insofar as such statements constitute a summary of the

Exhibit A-1

 

 

	 	 	 	United States federal tax laws referred to therein, are accurate and fairly summarize in
all material respects the United States federal tax laws referred to therein.
	 
	 	L.	 	Nothing has come to the attention of such counsel that causes such counsel to
believe that (A) the Time of Sale Memorandum (except for the financial statements and
financial schedules and other financial and statistical data included therein, as to
which such counsel need not express any belief) as of the date of the Placement
Agreement or as amended or supplemented, if applicable, as of the date such opinion is
delivered contained or contains any untrue statement of a material fact or omitted or
omits to state a material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading, or (B) the
Final Memorandum (except for the financial statements and financial schedules and other
financial and statistical data, as to which such counsel need not express any belief)
when issued contained, or as of the date such opinion is delivered contains, any untrue
statement of a material fact or omitted or omits to state a material fact necessary in
order to make the statements therein, in the light of the circumstances under which
they were made, not misleading.
	 
	 	 	 	With respect to the matters referred to in the paragraph above, counsel may state that
his or her opinions and beliefs are based upon his or her participation in the
preparation of the Time of Sale Memorandum and the Final Memorandum (and any amendments
or supplements thereto) and review and discussion of the contents thereof and review of
the documents incorporated by reference therein, but are without independent check or
verification except as specified.
	 
	 	M.	 	Based upon the representations, warranties and agreements of the Company and
the Guarantors, as applicable, in Sections 1(dd), 1(ee), 1(gg), 6(h), 6(i) and 6(k) of
the Placement Agreement and of the Placement Agent in Section 8 of the Placement
Agreement, it is not necessary in connection with the offer, sale and delivery of the
Securities to the Placement Agent under the Placement Agreement or in connection with
the initial resale of such Securities by the Placement Agent in accordance with Section
8 of the Placement Agreement to register the Securities under the Securities Act of
1933 or to qualify the Indenture under the Trust Indenture Act of 1939, it being
understood that no opinion is expressed as to any subsequent resale of any Security.

Exhibit A-1

 

 

EXHIBIT A-2

	 	A.	 	Each of the Nevada Guarantors has been duly incorporated, is validly existing
as a corporation in good standing under the laws of the jurisdiction of its
incorporation, and has the corporate power and authority to own its property and to
conduct its business as described in the Time of Sale Memorandum and the Final
Memorandum. With respect to each of the Nevada Guarantors, such Guarantor’s authorized
capital stock is as set forth on Exhibit A, and based solely on our review of such
Guarantor’s stock ledger, the Company is the direct or indirect owner of record of the
shares of such Guarantor’s capital stock as set forth on Exhibit A.
	 
	 	B.	 	Each of the Placement Agreement, the Indenture, the Guarantees and the
Registration Rights Agreement has been duly authorized, executed and delivered by each
Nevada Guarantor.
	 
	 	C.	 	The execution and delivery by the Nevada Guarantors of, and the performance by
the Nevada Guarantors of their respective obligations under, the Placement Agreement,
the Indenture, the Registration Rights Agreement and the Guarantees will not contravene
(i) any provision of any statute or governmental rule or regulation which, in our
experience, is normally applicable both to general business corporations that are not
engaged in regulated business activities and to transactions of the type contemplated
by the Final Memorandum (but without our having made any special investigation as to
other laws and provided that we express no opinion in this paragraph with respect to
(a) any laws, rules or regulations to which the Nevada Guarantors may be subject as a
result of the Placement Agent’s legal or regulatory status or the involvement of the
Placement Agent in such transactions, (b) any laws, rules or regulations relating to
misrepresentations of fraud; (ii) judgments, orders or decrees of which we have
knowledge; or (iii) the certificate of incorporation or bylaws of each of the Nevada
Guarantors, as the case may be, or, to our actual knowledge, any judgment, order or
decree of any governmental body, agency or court having jurisdiction over such Nevada
Guarantor or any subsidiary, and no consent, approval, authorization or order of, or
qualification with, any governmental body or agency is required for the performance by
any of the Nevada Guarantors of its respective obligations under the Placement
Agreement, the Indenture, the Registration Rights Agreement or the Securities, except
such as may be required by the securities or Blue Sky laws of the various states in
connection with the offer and sale of the Securities.

A-2EX-10.1

 

Exhibit 10.1

THIRD AMENDED AND RESTATED

EMPLOYMENT AGREEMENT

     THIS THIRD AMENDED AND RESTATED EMPLOYMENT AGREEMENT, dated the 22nd day of January 2007 and
effective the 1st day of January 2007 (the “Agreement”), is entered into by and between HEALTH CARE
REIT, INC., a Delaware corporation, (the “Corporation”), and GEORGE L. CHAPMAN (the “Executive”).

     WHEREAS, the Corporation and the Executive entered into an Employment Agreement, effective
January 1, 1997, which Employment Agreement was amended and restated, effective January 1, 2000,
and further amended and restated, effective January 1, 2004;

     WHEREAS, the Compensation Committee of the Corporation’s Board of Directors has approved a
special retention and incentive award for the Executive and has also approved certain modifications
to the terms of such amended and restated employment agreement; and

     WHEREAS, the Corporation wishes to assure itself of the services of the Executive for the
period provided in this Agreement, including the Executive’s participation in the selection,
evaluation and development of a successor to the Executive, and the Executive is willing to serve
in the employ of the Corporation for such period upon the terms and conditions set forth in this
Agreement.

     NOW THEREFORE, in consideration of the mutual covenants herein contained, the parties,
intending to be legally bound, hereby agree as follows:

     1. EMPLOYMENT

          The Corporation hereby agrees to employ the Executive as the Corporation’s Chairman and Chief
Executive Officer, upon the terms and conditions herein contained, and the Executive hereby agrees
to accept such employment and to serve as the Corporation’s Chairman and Chief Executive Officer,
and to perform the duties and functions customarily performed by the Chairman and Chief Executive
Officer of a publicly traded corporation (including participating in the selection, evaluation and
development of the Executive’s successor).

          In such capacities, the Executive shall report only to the Corporation’s Board of Directors,
and shall have the powers and responsibilities set forth in Article IV of the Corporation’s By-Laws
as well as such additional powers and responsibilities consistent with his position as the Board of
Directors may assign to him.

          Throughout the Term (defined below) of this Agreement, the Executive shall devote his best
efforts and all of his business time and services to the business and affairs of the Corporation.

Page 1 of 13 

 

     2. TERM OF AGREEMENT

          The term of employment under this Agreement shall expire on January 31, 2010 (the “Three Year
Term”). Executive shall have the option to extend this Agreement for an additional year (the
“Option”) by providing the Corporation with written notice of his intention to extend the Agreement
at least six (6) months prior to the expiration of the Three Year Term. The “Three Year Term,” as
it may be extended by the “Option,” is sometimes referred to herein as the “Term.”

          The Corporation shall be entitled to terminate this Agreement immediately for any reason
subject to the continuing obligations of the Corporation under this Agreement.

     3. SALARY AND BONUS

          The Executive shall receive a base salary during the Term of this Agreement at a rate of not
less than $570,000.00 per annum for 2007, and at a rate of not less than $570,000.00 per annum for
subsequent years. All amounts shall be payable in substantially equal semi-monthly installments.
During the Term, the Compensation Committee of the Board shall consult with the Executive and
review the Executive’s base salary at annual intervals, and may adjust the Executive’s annual base
salary from time to time as the Committee deems to be appropriate.

          The Executive shall also be eligible to receive a bonus from the Corporation each year during
the Term of this Agreement, with the actual amount of such bonus to be determined by the
Compensation Committee of the Corporation’s Board, using such performance measures as the Committee
deems to be appropriate.

     4. ADDITIONAL COMPENSATION AND BENEFITS

          The Executive shall receive the following additional compensation and welfare and fringe
benefits:

          (a) Stock Options and Other Long-Term Incentives. The Executive has been granted
nonstatutory stock options and shares of restricted stock pursuant to the terms of the
Corporation’s 2005 Long-Term Incentive Plan (the “Plan”). During the Term of the Agreement, any
additional stock options, restricted stock or other awards under the Plan shall be at the
discretion of the Corporation’s Board.

          (b) Disability Insurance. During the Term of this Agreement, the Corporation shall
maintain a disability insurance policy on the Executive with the maximum aggregate annual benefit
commercially available to the Corporation, up to a maximum of sixty percent (60%) of his annual
base salary. The Corporation shall provide at its expense all supplemental disability coverage
needed to provide this aggregate benefit. The Executive will submit to such medical examination
and supply such information as is necessary for the Corporation to obtain such insurance coverage.

Page 2 of 13 

 

          (c) Health Insurance. During the Term of this Agreement, the Corporation shall
provide the Executive and his dependents with health insurance coverage no less favorable than that
from time to time made available to other key employees.

          (d) Business Clubs. During the Term of this Agreement, the Corporation shall pay all
initiation fees and dues charged by up to two (2) dining clubs, country clubs, athletic clubs, or
similar organizations of which the Executive is a member or desires to become a member.

          (e) Conferences. During the Term of this Agreement, the Corporation shall pay for the
Executive and his wife to attend up to three (3) business-related conferences, conventions or
seminars within the continental United States each year during the Term of this Agreement,
including registration fees, travel expenses and reasonable hotel and meal allowances.

          (f) Vacation. During the Term of this Agreement, the Executive shall be entitled to
up to five (5) weeks of vacation during each year during the Term of this Agreement and any
extensions thereof, prorated for partial years.

          (g) Medical Examinations. During the Term of this Agreement, the Corporation shall
pay or reimburse the Executive for the cost of a physical examination by a physician acceptable to
the Executive in alternate years.

          (h) Business Expenses. During the Term of this Agreement, the Corporation shall
reimburse the Executive for all reasonable expenses he incurs in promoting the Corporation’s
business, including expenses for travel and similar items, upon presentation by the Executive from
time to time of an itemized account of such expenditures.

          In addition to the benefits provided pursuant to the preceding paragraphs of this Section 4,
the Executive shall be eligible, during the Term, to participate in such other executive
compensation and retirement plans of the Corporation as are applicable generally to other officers.
The Executive shall be eligible during the Term to participate in the Corporation’s supplemental
executive retirement plan, in such other retirement plans of the Corporation as are applicable
generally to other officers, and welfare benefit plans, programs, practices and policies of the
Corporation as are generally applicable to other key employees, unless such participation would
duplicate, directly or indirectly, benefits already accorded to the Executive.

     5. SPECIAL RETENTION AND INCENTIVE AWARD

          In addition to the salary, bonus, additional compensation, benefits and any other
compensation, awards or benefits that have been or may be granted to the Executive, the Executive
is eligible for a special retention and incentive award (the “Special Award”) of up to 120,000
shares of the Corporation’s common stock, par value $1.00 per share (the “Shares), subject to the
terms described below. On the date this Agreement is entered into, 60,000 of the Shares shall be
granted to the Executive as restricted shares (the “Restricted Shares”) and 60,000 of the Shares
shall be granted to the Executive in performance awards (the “Performance Award Shares”), all
pursuant to the terms of the Plan (the Restricted Shares and the Performance Award Shares are
sometimes referred to collectively herein as the “Shares”). Except as provided in

Page 3 of 13 

 

Section 6 herein, the Shares will vest and have dividend treatment as follows:

          (a) The 60,000 Restricted Shares shall vest at the end of the Three Year Term, subject to the
Executive’s continued employment for the Three Year Term. The Executive will be entitled to current receipt of dividends on the 60,000 Restricted Shares.

          (b) The 60,000 Performance Award Shares shall be paid in shares of common stock at the end of
the Three Year Term, subject to the Executive’s continued employment for the Three Year Term, if
the Board of Directors has determined that the Corporation’s strategic plan of diversifying into
new markets such as senior housing, medical office building, hospital facilities or other areas as
specified by the Board has been implemented successfully. The
Executive shall be granted dividend equivalent rights (“DERs”) on the 60,000 Performance Award Shares. The DER
payments on 30,000 of the Performance Award Shares will be paid as
dividends are declared on shares of common stock. The DER payments on the remaining 30,000 Performance
Award Shares will accrue as dividends are declared on shares of common stock, be deemed reinvested in additional common shares and will be paid in
such additional shares if and when the underlying Performance Award Shares are earned.

     6. PAYMENTS UPON TERMINATION

          (a) Involuntary Termination. If the Executive’s employment is terminated by the
Corporation during the Term of this Agreement, the Executive shall be entitled to receive his base
salary accrued through the date of termination, any accrued but unpaid vacation pay, plus any
bonuses earned but unpaid with respect to fiscal years or other periods preceding the termination
date. The Executive shall also receive any nonforfeitable benefits payable to him under the terms
of any deferred compensation, incentive or other benefit plans maintained by the Corporation,
payable in accordance with the terms of the applicable plan.

          If the termination is not a termination for Cause, as described in paragraph (c), a voluntary
termination by the Executive as described in paragraph (d), or a result of the Executive’s death or
disability, then the Corporation shall also be obligated to make a series of monthly severance
payments to the Executive for each month during the remaining Term of this Agreement, but not less
than twenty-four (24) months. Each monthly payment shall be equal to one-twelfth (1/12th) of the
sum of (i) the Executive’s annual base salary, as in effect on the date of termination, and (ii)
the greater of (A) the average of the annual bonuses paid to the Executive for the last two (2)
fiscal years preceding the termination date or (B) a minimum bonus equal to one hundred percent
(100%) of his annual base salary. If the Executive obtains a replacement position with any new
employer (including a position as an officer, employee, consultant, or agent, or self-employment as
a partner or sole proprietor), the payments shall be reduced by all amounts the Executive receives
as compensation for services performed during such period. The Executive shall be under no duty to
mitigate the amounts owed to him under this paragraph (a) by seeking such a replacement position.

          In addition, if the termination is not a termination for Cause as described in paragraph (c),
a voluntary termination by the Executive as described in paragraph (d), or a result of the
Executive’s death or disability, then:

Page 4 of 13 

 

     (i) The 60,000 Restricted Shares granted to the Executive pursuant to Section 5(a)
shall become vested and 30,000 of the Performance Award Shares granted to the Executive
pursuant to Section 5(b) shall become earned and payable. The remaining 30,000 Performance
Award Shares granted to the Executive pursuant to Section 5(b) may become earned and payable
to the extent the Board determines that the goals specified in Section 5(b) have been
attained;

     (ii) Any stock options, restricted stock (except for the Shares granted pursuant to the
Special Award which Shares are treated in Section 6(a)(i)) or other awards granted to the
Executive under any deferred compensation, incentive or other benefit plan maintained by the
Corporation shall become fully vested and earned and payable and, in the case of stock
options, exercisable in full;

     (iii) The Executive shall be provided continued coverage at the Corporation’s expense
under any life, health and disability insurance programs maintained by the Corporation in
which the Executive participated at the time of his termination for the remaining Term of
the Agreement (but not less than twelve (12) months), or until, if earlier, the date the
Executive obtains comparable coverage under benefit plans maintained by a new employer; and

     (iv) The Executive may elect, by delivering written notice to the Corporation within
thirty (30) days following such termination of his employment, to receive from the
Corporation a lump sum severance payment in lieu of the monthly severance payments described
in Section 6(a) in an amount equal to the present value of such payments. Such present
value shall be calculated using a discount rate equal to the interest rate on 90-day
Treasury bills, as reported in the Wall Street Journal (or similar publication) for
the date the election is received by the Corporation. The Corporation shall deliver the
payment to the Executive, in the form of a bank cashier’s check, within ten (10) business
days following the date on which the Corporation receives written notice of the Executive’s
election.

          (b) Disability. The Corporation shall be entitled to terminate this Agreement, if the
Board determines that the Executive has been unable to attend to his duties for at least ninety
(90) days because of a medically diagnosable physical or mental condition, and has received a
written opinion from a physician acceptable to the Board that such condition prevents the Executive
from resuming full performance of his duties and is likely to continue for an indefinite period.
Upon such termination, the Executive shall be entitled to receive his base salary accrued through
the date of termination, any accrued but unpaid vacation pay, plus any bonuses earned but unpaid
with respect to fiscal years or other periods preceding the termination date. In addition, the
Corporation shall make a series of monthly disability payments to Executive, each equal to
one-twelfth (1/12th) of the sum of (i) his annual base salary, as in effect at the time Executive
became permanently disabled, and (ii) the greater of (A) the average of the annual bonuses paid to
the Executive for the last two (2) fiscal years preceding the date of disability or (B) a minimum
bonus equal to one hundred percent (100%) of the Executive’s annual base salary. Payment of such
disability benefit shall commence with the month following the date of the termination by reason of
permanent disability and continue each month for the remaining Term of this Agreement (but not less
than twenty-four (24) months), but shall terminate at an earlier date if the Executive returns to
active

Page 5 of 13 

 

employment, either with the Corporation or otherwise. Any amounts payable under this Section 6(b)
shall be reduced by any amounts paid to the Executive under any long-term disability plan or other
disability program or insurance policies maintained or provided by the Corporation. Upon
termination due to a disability, all stock options, restricted stock or other awards held by the
Executive under any deferred compensation, incentive or other benefit plan maintained by the
Corporation, including the Special Award, shall become fully vested or earned and payable, as the
case may be, and in the case of stock options, exercisable in full in accordance with the terms of
the applicable plan or plans.

          (c) Termination for Cause. If the Executive’s employment is terminated by the
Corporation for Cause, the amount the Executive shall be entitled to receive from the Corporation
shall be limited to his base salary accrued through the date of termination, any accrued but unpaid
vacation pay, plus any bonuses earned but unpaid with respect to the fiscal year of the Corporation
most recently ended, and any nonforfeitable benefits payable to the Executive under the terms of
deferred compensation, incentive or other benefit plans maintained by the Corporation. Also, if
the Executive’s employment is terminated by the Corporation for Cause, all unvested or unearned
Shares, as the case may be, granted pursuant to the Special Award shall be forfeited.

          For purposes of this Agreement, the term “Cause” shall be limited to (i) action by the
Executive involving willful disloyalty to the Corporation, such as embezzlement, fraud,
misappropriation of corporate assets or a breach of the covenants set forth in Sections 10 and 11
below; or (ii) the Executive being convicted of a felony; or (iii) the Executive being convicted of
any lesser crime or offense committed in connection with the performance of his duties hereunder or
involving moral turpitude; or (iv) the intentional and willful failure by the Executive to
substantially perform his duties hereunder as directed by the Board (other than any such failure
resulting from the Executive’s incapacity due to physical or mental disability) after a demand for
substantial performance is made on the Executive by the Board of Directors.

          (d) Voluntary Termination by the Executive. If the Executive resigns or otherwise
voluntarily terminates his employment before the end of the Term of this Agreement (other than in
connection with a Change in Corporate Control as described in Section 7), the amount the Executive
shall be entitled to receive from the Corporation shall be limited to his base salary accrued
through the date of termination, any accrued but unpaid vacation pay, plus any bonuses earned but
unpaid with respect to any fiscal years or other periods preceding the termination date, and any
nonforfeitable benefits payable to the Executive under the terms of any deferred compensation,
incentive or other benefit plans of the Corporation. Also, if the Executive’s employment is
voluntarily terminated as set forth in this Section, all unvested or unearned Shares, as the case
may be, granted pursuant to the Special Award shall be forfeited.

          For purposes of this paragraph, a resignation by the Executive shall not be deemed to be
voluntary if the Executive is (1) assigned to a position other than the Chairman and Chief
Executive Officer of the Corporation during the Term (other than for Cause or by reason of
permanent disability), (2) assigned duties materially inconsistent with such position, or (3)
directed to report to anyone other than the Corporation’s Board of Directors.

Page 6 of 13 

 

     7. EFFECT OF CHANGE IN CORPORATE CONTROL

          (a) In the event of a Change in Corporate Control, the vesting of any stock options,
restricted stock or other awards granted to the Executive under any deferred compensation,
incentive or other benefit plan maintained by the Corporation, and the Shares granted pursuant to
the Special Award, shall all be accelerated and all such awards shall become immediately vested and
payable in full and, in the case of stock options, exercisable in full.

          (b) If, at any time during the period of twelve (12) consecutive months following the
occurrence of a Change in Corporate Control, and during the Term of this Agreement, the Executive
is involuntarily terminated (other than for Cause) or elects to voluntarily resign his employment,
the Executive shall be entitled to receive, in lieu of the monthly payments described in Section
6(a) above, monthly severance payments for thirty-six (36) months. Each monthly payment shall be
equal to one-twelfth (1/12th) of the sum of (i) the Executive’s annual base salary, as in effect at
the time of the Change in Corporate Control, and (ii) the greater of (A) the average of the annual
bonuses paid to the Executive for the last two (2) fiscal years of the Corporation ending prior to
the Change in Corporate Control or (B) a minimum bonus equal to one hundred percent (100%) of the
Executive’s annual base salary.

          (c) If the Executive is involuntarily terminated (other than for Cause) or elects to
voluntarily resign his employment within twelve (12) months after a Change in Corporate Control, he
may elect, by delivering written notice to the Corporation within thirty (30) days following such
termination of his employment, to receive from the Corporation a lump sum severance payment in lieu
of the monthly payments described in the preceding paragraph. The amount of this payment shall be
equal to the present value of the monthly payments described in the preceding paragraph. Such
present value shall be calculated using a discount rate equal to the interest rate on 90-day
Treasury bills, as reported in the Wall Street Journal (or similar publication) for the
date the election is received by the Corporation. The Corporation shall deliver the payment to the
Executive, in the form of a bank cashier’s check, within ten (10) business days following the date
on which the Corporation receives written notice of the Executive’s election.

          In addition, if the Executive is involuntarily terminated (other than for Cause) or elects to
voluntarily resign his employment within twelve (12) months after a Change in Corporate Control, he
shall be entitled to continued coverage at the Corporation’s expense under any life, health and
disability insurance programs maintained by the Corporation in which the Executive participated at
the time of his termination, which coverage shall be continued until the expiration of the Term of
the Agreement (but not less than twelve (12) months) or until, if earlier, the date the Executive
obtains comparable coverage under benefit plans maintained by a new employer.

          (d) For purposes of this Agreement, a “Change in Corporate Control” shall include any of the
following events:

     (1) The acquisition in one or more transactions of more than twenty percent (20%) of
the Corporation’s outstanding Common Stock (or the equivalent in voting power of any class
or classes of securities of the Corporation entitled to vote in elections of directors) by
any corporation, or other person or group (within the meaning of Section 14(d)(3) of the
Securities Exchange Act of 1934, as amended);

Page 7 of 13 

 

     (2) Any transfer or sale of substantially all of the assets of the Corporation, or any
merger or consolidation of the Corporation into or with another corporation in which the
Corporation is not the surviving entity, or any merger or consolidation of the Corporation
into or with another corporation in which the Corporation is the surviving entity and, in
connection with such merger or consolidation, all or part of the outstanding shares of
Common Stock shall be changed into or exchanged for other stock or securities of the
Corporation or any other person, or cash, or any other property.

     (3) Any election of persons to the Board of Directors which causes a majority of the
Board of Directors to consist of persons other than “Continuing Directors”. For this
purpose, those persons who were members of the Board of Directors on January 1, 2007, shall
be “Continuing Directors.” Any person who is nominated for election as a member of the
Board after January 1, 2007, shall also be considered a “Continuing Director” for this
purpose if, and only if, his or her nomination for election to the Board of Directors is
approved or recommended by a majority of the members of the Board (or of the relevant
Nominating Committee) and at least five (5) members of the Board are themselves Continuing
Directors at the time of such nomination; or

     (4) Any person, or group of persons, announces a tender offer for at least twenty
percent (20%) of the Corporation’s Common Stock.

          (e) Notwithstanding anything else in this Agreement, if any payment, accelerated vesting or
other benefit provided by the Corporation to the Executive in connection with a Change in Corporate
Control, whether paid or payable pursuant to the terms of this Agreement or otherwise (a “Parachute
Payment”) is determined to be a parachute payment subject to the excise tax imposed by Section 4999
of the Internal Revenue Code (the “Code”) or any other tax having the same effect (such excise tax
or other tax, together with any interest and penalties incurred by the Executive with respect to
such taxes, are collectively referred to herein as the “Excise Tax”), the Corporation shall make an
additional payment (the “Gross-Up Payment”) to the Executive in an amount such that the net amount
of the Gross-Up Payment the Executive retains, after payment by the Executive of all taxes imposed
upon the Gross-Up Payment, including, without limitation, the Excise Tax and any federal, state or
local income taxes (and any interest and penalties imposed with respect thereto) on the Gross-Up
Payment, will be equal to the Excise Tax liability imposed upon the Executive with respect to all
Parachute Payments (other than the Gross-Up Payment).

          (f) If any dispute arises between the Corporation (or any successor) and the Executive
regarding Executive’s right to severance payments under Section 6 or Section 7, the Executive shall
be entitled to recover his attorneys fees and costs incurred in connection with such dispute.

Page 8 of 13 

 

     8. DEATH

          If the Executive dies during the Term of this Agreement, the Corporation shall pay to the
Executive’s estate a lump sum payment equal to the sum of the Executive’s base salary accrued
through the date of death, any accrued but unpaid vacation pay, plus any bonuses earned but unpaid
with respect to fiscal years or other periods preceding the date of death. In addition, the
Corporation shall pay to the Executive’s surviving spouse (or such other beneficiary as the
Executive may designate in writing) a lump sum payment equal to the present value of a series of
monthly payments for each month during the remaining Term of the Agreement (but not less than
twenty-four (24) months), each in an amount equal to one-twelfth (1/12th) of the sum of
(i) the Executive’s annual base salary, as in effect on the date of death, and (ii) the greater of
(A) the average of the annual bonuses paid to the Executive for the last two (2) fiscal years
preceding the date of death or (B) a minimum bonus equal to one hundred percent (100%) of the
Executive’s annual base salary. Such present value shall be calculated using a discount rate equal
to the interest rate on 90-day Treasury bills, as reported in the Wall Street Journal (or
similar publication) for the date of death. In addition, the death benefits payable by reason of
the Executive’s death under any retirement, deferred compensation, life insurance or other employee
benefit plan maintained by the Corporation shall be paid to the beneficiary designated by the
Executive, and the stock options, restricted stock or other awards held by the Executive under any
deferred compensation, incentive or other benefit plan maintained by the Corporation, including the
Special Award, shall become fully vested, and, in the case of stock options, exercisable in full,
in accordance with the terms of the applicable plan or plans.

     9. WITHHOLDING AND SECTION 409A COMPLIANCE

          The Corporation shall, to the extent permitted by law, have the right to withhold and deduct
from any payment hereunder any federal, state or local taxes of any kind required by law to be
withheld with respect to any such payment.

          Notwithstanding anything in this Agreement to the contrary, to the extent required to comply
with Section 409A of the Code, any payment of deferred compensation (within the meaning of Section
409A of the Code) hereunder on account of the Executive’s separation from service (within the
meaning of Section 409A of the Code) shall not be paid before the date that is six months after the
date of the separation from service (or, if earlier, the Executive’s death). Any payment(s),
benefits and streams of payments and benefits to the Executive which would have commenced during
such six-month period shall commence on the first day following the end of such period and the term
over which any stream of payments or benefits shall be made shall run from the delayed commencement
date for its full term such that the delayed commencement shall not shorten the term over which any
payments or benefits hereunder are provided. The Executive and the Corporation will cooperate in
good faith in making such amendments to this Agreement, if any, as may be necessary or appropriate
in order for the payments and benefits to which the Executive is entitled hereunder to comply with
Section 409A of the Code.

Page 9 of 13 

 

     10. PROTECTION OF CONFIDENTIAL INFORMATION

          The Executive agrees that he will keep all confidential and proprietary information of the
Corporation or relating to its business confidential, and that he will not (except with the
Corporation’s prior written consent), while in the employ of the Corporation or thereafter,
disclose any such confidential information to any person, firm, corporation, association or other
entity, other than in furtherance of his duties hereunder, and then only to those with a “need to
know.” The Executive shall not make use of any such confidential information for his own purposes
or for the benefit of any person, firm, corporation, association or other entity (except the
Corporation) under any circumstances during or after the Term of his employment. The foregoing
shall not apply to any information which is already in the public domain, or is generally disclosed
by the Corporation or is otherwise in the public domain at the time of disclosure.

          The Executive recognizes that because his work for the Corporation may bring him into contact
with confidential and proprietary information of the Corporation, the restrictions of this Section
10 are required for the reasonable protection of the Corporation and its investments and for the
Corporation’s reliance on and confidence in the Executive.

     11. COVENANT NOT TO COMPETE

          The Executive hereby agrees that he will not, either during the employment Term or during the
period of one (1) year from the time the Executive’s employment under this Agreement is terminated
by him voluntarily or by the Corporation for Cause, engage in any business activities on behalf of
any enterprise which competes with the Corporation in the business of the passive ownership of
health care facilities, or passive investing in or lending to health care-related enterprises. The
Executive will be deemed to be engaged in such competitive business activities if he participates
in such a business enterprise as an employee, officer, director, consultant, agent, partner,
proprietor, or other participant; provided that the ownership of no more than two percent (2%) of
the stock of a publicly traded corporation engaged in a competitive business shall not be deemed to
be engaging in competitive business activities.

          The Executive agrees that he shall not, for a period of one year from the time his employment
under this Agreement ceases (for whatever reason), or, if later, during any period in which he is
receiving monthly severance payments under Section 6 or Section 7 of this Agreement, solicit any
employee or full-time consultant of the Corporation for the purposes of hiring or retaining such
employee or consultant. For this purpose, the Executive shall be considered to be receiving
monthly severance payments under Section 6 or Section 7 of this Agreement during any period for
which he would have received such severance payments had he not elected to receive a lump sum
severance payment or had such payments not been offset by compensation received from a successor
employer.

Page 10 of 13 

 

     12. INJUNCTIVE RELIEF

          The Executive acknowledges and agrees that it would be difficult to fully compensate the
Corporation for damages resulting from the breach or threatened breach of the covenants set forth
in Sections 10 and 11 of this Agreement and accordingly agrees that the Corporation shall be
entitled to temporary and injunctive relief, including temporary restraining orders, preliminary
injunctions and permanent injunctions, to enforce such provisions in any action or proceeding
instituted in the United States District Court for the Northern District of Ohio or in any court in
the State of Ohio having subject matter jurisdiction. This provision with respect to injunctive
relief shall not, however, diminish the Corporation’s right to claim and recover damages.

          It is expressly understood and agreed that although the parties consider the restrictions
contained in this Agreement to be reasonable, if a court determines that the time or territory or
any other restriction contained in this Agreement is an unenforceable restriction on the activities
of the Executive, no such provision of this Agreement shall be rendered void but shall be deemed
amended to apply as to such maximum time and territory and to such extent as such court may
judicially determine or indicate to be reasonable.

     13. NOTICES

          All notices or communications hereunder shall be in writing and sent certified or registered
mail, return receipt requested, postage prepaid, addressed as follows (or to such other address as
such party may designate in writing from time to time):

	 	 	 	 	 
	 	 	If to the Corporation:
	 
	 	 	 	 
	 

	 	 	 	Health Care REIT, Inc.
	 

	 	 	 	One SeaGate, Suite 1500
	 

	 	 	 	Toledo, OH 43604
	 

	 	 	 	Attention: Erin C. Ibele, Senior Vice President- Administration and
	 

	 	 	 	           Corporate Secretary
	 
	 	 	 	 
	 	 	If to the Executive:
	 
	 	 	 	 
	 

	 	 	 	George L. Chapman
	 

	 	 	 	2604 Riverview Dr.
	 

	 	 	 	Maumee, OH 43537

The actual date of receipt, as shown by the receipt therefor, shall determine the time at which
notice was given.

     14. SEPARABILITY

          If any provision of this Agreement shall be declared to be invalid or unenforceable, in whole
or in part, such invalidity or unenforceability shall not affect the remaining provisions hereof
which shall remain in full force and effect.

Page 11 of 13 

 

     15. ASSIGNMENT

          This Agreement shall be binding upon and inure to the benefit of the heirs and representatives
of the Executive and the assigns and successors of the Corporation, but neither this Agreement nor
any rights hereunder shall be assignable or otherwise subject to hypothecation by the Executive.

     16. ENTIRE AGREEMENT

          This Agreement represents the entire agreement of the parties and shall supersede any and all
previous contracts, arrangements or understandings between the Corporation and the Executive. The
Agreement may be amended at any time by mutual written agreement of the parties hereto.

     17. GOVERNING LAW

          This Agreement shall be construed, interpreted, and governed in accordance with the laws of
the State of Ohio, other than the conflict of laws provisions of such laws.

Page 12 of 13 

 

     IN WITNESS WHEREOF, the Corporation has caused this Agreement to be duly executed, and the
Executive has hereunto set his hand, as of the day and year first above written.

	 	 	 	 	 	 	 	 	 
	Attest:	 	 	 	HEALTH CARE REIT, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Erin C. Ibele

	 	 	 	By: 	 	 /s/ Raymond W. Braun	 
	 

Erin C. Ibele, Senior Vice President-

	 	 
	 	 	 	 

Raymond W. Braun, President
	 	 
	Administration and Corporate Secretary
	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 
	Witness:	 	 	 	EXECUTIVE:	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Erin C. Ibele

	 	 	 	 /s/ George L. Chapman	 
	 

 

	 	 
	 	 

George L. Chapman
	 	 
	 
	 	 	 	 	 	 	 	 

Page 13 of 13

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