Document:

Exhibit 10.13

 

CALL
OPTION Agreement

 

THIS CALL OPTION AGREEMENT
(this “Agreement”) is made as of May 29, 2015 (the “Effective Date”), by and between Sterling
Construction Company, Inc., a Delaware corporation (“Seller”), and Clinton W. Myers, an individual and Clinton
Charles Myers, as trustee of the Myers Family 2011 Trust dated March 17, 2011 (collectively, “Buyer”).

 

RECITALS

 

WHEREAS, as of the
Effective Date, Seller owns fifty percent (50%) of the issued and outstanding limited partnership interests (the “Partnership
Interest”) of Myers & Sons Construction, L.P., a California limited partnership (the “Partnership”),
and collectively Buyer owns forty-nine percent (49%) of the issued and outstanding limited partnership interests of the Partnership;

 

WHEREAS, Seller, together
with certain of its affiliates, desires to obtain a loan from Nations Fund I, Inc. (“Lender”) pursuant to that
certain Loan and Security Agreement (the “Loan Agreement”) dated on or around the date hereof, and desires the
Partnership to grant Nations Equipment Finance, LLC, as administrative agent and collateral agent for Lender (“Agent”),
for the benefit of Lender, a security interest in certain items of equipment and other property of the Partnership pursuant to
a certain Security Agreement (the “Security Agreement”) dated on or after the date hereof; and,

 

WHEREAS, as a material
inducement for Buyer to authorize the Partnership to enter into the Security Agreement, the parties desire that Buyer shall have
the ability to buy the Partnership Interest from Seller, subject to the terms and conditions set forth herein.

 

NOW, THEREFORE, in
order to implement the foregoing and in consideration of the mutual representations, warranties, covenants and agreements set forth
herein, the parties agree as follows:

 

AGREEMENT

 

1.                 
CALL OPTION RIGHTS; EXERCISE; TERMINATION.

 

1.1             
Call Option. Upon the terms and subject to the conditions set forth in this Agreement, Buyer shall have the right
and option to cause Seller to sell the Partnership Interest to Buyer (the “Call Option”) for a purchase price
of One Dollar ($1.00) (the “Purchase Price”) upon the occurrence of any of the following (collectively, the
“Call Event”): (a) The repossession or disposition of all Collateral (as such term is defined in the Security
Agreement) pursuant to Agent’s rights or remedies pursuant to the Security Agreement. (b) the dissolution or bankruptcy of
Seller.

 

1.2             
Exercise of the Call Option. Upon the occurrence of the Call Event, Buyer shall exercise the Call Option by delivery
of written notice thereof together with the Purchase Price. Within five (5) business days of receipt of the Purchase Price, the
Seller shall deliver to Buyer an executed written assignment of the Partnership Interest in a form reasonably acceptable to the
parties. Notwithstanding the foregoing, if the Call Option is exercised pursuant to the provisions of this Agreement, such transaction
shall be effective upon receipt of the Purchase Price by Seller.

 

1.3             
Termination. This Agreement shall terminate on the first to occur of the following: (1) the written agreement of
the parties; (2) the date, if any, Buyer becomes the sole partner of the Partnership; (3) the acquisition of all of the partnership
interests of the Partnership by a third party.

 

     

     

    

2.                 
GENERAL PROVISIONS.

 

2.1             
Entire Agreement and Modification. This Agreement supersedes all prior agreements between the parties with respect
to its subject matter and constitutes a complete and exclusive statement of the terms of the agreement between the parties with
respect to its subject matter. This Agreement may not be amended except by a written agreement executed by all of the parties hereto.

 

2.2             
Choice of Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of California
without regard to its rules governing conflicts of law.

 

2.3             
Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original
copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement.

 

IN WITNESS WHEREOF,
the parties have caused this Agreement to be signed as of the Effective Date.

 

	SELLER:	 	BUYER:
	 	 	 	 
	Sterling Construction Company, Inc.	 	 
	 	 	 	 
	By:	
        
	 	Clinton Charles Myers, Trustee of the Myers Family 2011 Trust
    dated March 17, 2011
	 	Paul Varello	 	 
	 	 	 	 
	 	Chief Executive Officer	 	Clinton W. MyersExhibit 10.13.1

 

AMENDMENT NUMBER 01

 

to

 

CALL OPTION AGREEMENT

 

This Amendment No. 1("Amendment No.
1") to the Call Option Agreement executed May 29th, 2015 (“COA”) is entered into by and between Sterling
Construction Company, Inc. ("SCC") and Clinton W. Meyers, and individual and Clinton Charles Meyers, as trustee of the
Meyers Family 2011 Trust dated March 17, 2011 (collectively "MEYERS"), and is made effective May 29th, 2015.

 

WITNESSETH:

 

WHEREAS, SCC and MEYERS entered
into that certain COA referenced above; and

 

WHEREAS, SCC and MEYERS wish to
amend the Purchase Price as that term is defined in the COA.

 

NOW, THEREFORE, for good and valuable
consideration, the sufficiency of which is hereby acknowledged, SCC and MEYERS agree as follows:

 

		1.	The phrase “... purchase price of One Dollar ($1.00)” set forth in Article 1.1
is hereby replaced with “... purchase price of Ten Thousand Dollars ($10,000.00)”.

 

Except as amended herein, the COA shall
remain in full force and effect and all other terms and conditions shall remain unchanged.

 

For purposes of executing this Amendment
No. 1 to the COA, facsimile and electronic image transmissions of signatures shall be considered as original documents. The parties
hereto signify their acceptance and agreement to the above by their authorized representatives signing in the space indicated below.

 

 

	Sterling Construction Company, Inc.	 	Clinton Charles Meyers, as trustee of the Meyers Family 2011 Trust dated March 17, 2011
	 	 	 	 	 
	By:	 	 	By:	 
	 	 	 	 	 
	Name:	 	 	Name:	 
	 	 	 	 	 
	Title:	 	 	Title:	 
	 	 	 	 	 
	Date:	 	 	Date:	 

 

     

     

    
	 	
        Clinton W. Meyers

	 	 
	 	By:	
	 	 	 
	 	Name:	
	 	 	 
	 	Title:	
	 	 	 
	 	Date:Exhibit 10.14

 

CALL
OPTION Agreement

 

THIS CALL OPTION AGREEMENT
(this “Agreement”) is made as of May 29, 2015 (the “Effective Date”), by and between Sterling
Construction Company, Inc., a Delaware corporation (“Seller”), and Richard H. Buenting, an individual (“Buyer”).

 

RECITALS

 

WHEREAS, as of the
Effective Date, Seller owns _____ percent (___%) of the issued and outstanding membership interests (the “Membership Interest”)
of Road and Highway Builders, LLC, a Nevada limited liability company (the “Company”), and collectively Buyer
owns _______ percent (__%) of the issued and outstanding membership interests of the Company;

 

WHEREAS, Seller, together
with certain of its affiliates, desires to obtain a loan from Nations Fund I, Inc. (“Lender”) pursuant to that
certain Loan and Security Agreement (the “Loan Agreement”) dated on or around the date hereof, and desires the
Company to grant Nations Equipment Finance, LLC, as administrative agent and collateral agent for Lender (“Agent”),
for the benefit of Lender, a security interest in certain items of equipment and other property of the Company pursuant to a certain
Security Agreement (the “Security Agreement”) dated on or after the date hereof; and,

 

WHEREAS, as a material
inducement for Buyer to authorize the Company to enter into the Security Agreement, the parties desire that Buyer shall have the
ability to buy the Membership Interest from Seller, subject to the terms and conditions set forth herein.

 

NOW, THEREFORE, in
order to implement the foregoing and in consideration of the mutual representations, warranties, covenants and agreements set forth
herein, the parties agree as follows:

 

AGREEMENT

 

3.                 
CALL OPTION RIGHTS; EXERCISE; TERMINATION.

 

3.1             
Call Option. Upon the terms and subject to the conditions set forth in this Agreement, Buyer shall have the right
and option to cause Seller to sell the Membership Interest to Buyer (the “Call Option”) for a purchase price
of One Dollar ($1.00) (the “Purchase Price”) upon the occurrence of any of the following (collectively, the
“Call Event”): (a) The repossession or disposition of all Collateral (as such term is defined in the Security
Agreement) pursuant to Agent’s rights or remedies pursuant to the Security Agreement. (b) The dissolution or bankruptcyof
Seller

 

3.2             
Exercise of the Call Option. Upon the occurrence of the Call Event, Buyer shall exercise the Call Option by delivery
of written notice thereof together with the Purchase Price. Within five (5) business days of receipt of the Purchase Price, the
Seller shall deliver to Buyer an executed written assignment of the Membership Interest in a form reasonably acceptable to the
parties. Notwithstanding the foregoing, if the Call Option is exercised pursuant to the provisions of this Agreement, such transaction
shall be effective upon receipt of the Purchase Price by Seller.

 

     

     

    

3.3             
Termination. This Agreement shall terminate on the first to occur of the following: (1) the written agreement of
the parties; (2) the date, if any, Buyer becomes the sole member of the Company; (3) the acquisition of all of the membership interests
of the Company by a third party.

 

4.                 
GENERAL PROVISIONS.

 

4.1             
Entire Agreement and Modification. This Agreement supersedes all prior agreements between the parties with respect
to its subject matter and constitutes a complete and exclusive statement of the terms of the agreement between the parties with
respect to its subject matter. This Agreement may not be amended except by a written agreement executed by all of the parties hereto.

 

4.2             
Choice of Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of California
without regard to its rules governing conflicts of law.

 

4.3             
Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original
copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement.

 

IN WITNESS WHEREOF,
the parties have caused this Agreement to be signed as of the Effective Date.

 

	SELLER:	 	 	BUYER:
	 	 	 	 
	Sterling Construction Company, Inc.	 	 
	 	 	 
	By: 	 	 	 
	 	Paul Varello	 	Richard H. Buenting
	 	Chief Executive Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}]]