Document:

Exhibit
10.7

 

EMPLOYMENT
AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT (this “Agreement”), dated as of June 25, 2015, (with retroactive effect
to May 26, 2015), is entered into by and between Brundage-Bone Concrete Pumping, Inc., a Colorado corporation (the “Company”),
and Gary C. Bernardez (“Executive”).

 

WHEREAS,
the Company desires to employ Executive and Executive desires to accept employment with the Company, in each case, upon and subject
to the terms and conditions set forth herein and effective as of the Effective Date.

 

NOW,
THEREFORE, in consideration of the mutual agreements set forth herein and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

1.           Term.
Subject to the provisions for earlier termination hereinafter provided, Executive’s employment with the Company under this
Agreement shall be for a term commencing on the May 26, 2015 (the “Effective Date") and ending
at 11:59 pm (MT) on the day immediately preceding the first (1st) anniversary thereof (the “Initial Term”).
 Thereafter, Executive’s employment with the Company under this Agreement shall continue for successive one (l)-year
periods (each, a “Renewal Term”), unless either party provides written notice to the other
of its election not to renew the term (a “Non-Renewal”) at least ninety (90) days prior to the
commencement of such renewal period. The Initial Term and any Renewal Term(s) are referred to collectively in this Agreement as
the “Term.”

 

2.             Position
and Duties. During the Term, Executive shall serve as Chief Operating
Officer of the Company, and shall serve in such other or additional positions as the Company may determine from time to time.
Executive shall perform such duties as are usual and customary for Executive’s position(s) and shall devote such time to
the business and affairs of the Company, its subsidiaries and its affiliates as is necessary to perform the services required
hereunder. Executive shall not engage in any other employment, occupation, consulting or other business activity during the Term;
provided, however, that it shall not be a violation of this Agreement for Executive to provide services to Eco-Pan, Inc.
(“Eco-Pan”) during the Term as requested by the Company, to the extent that such services do not, individually
or in the aggregate, materially interfere with Executive’s performance of his obligations hereunder. Executive agrees to
observe and comply with the rules and policies of the Company, as in effect from time to time, including, and without limitation,
Executive’s obligations to the Company upon a termination of employment as set forth herein.

 

3.            Location.
During the Term, Executive shall perform the services required by this Agreement at the Company’s headquarters in Denver,
Colorado (the “Principal Location”) or such other location as the Company shall determine, except for
travel to other locations as may be necessary to fulfill Executive’s duties and responsibilities hereunder.

 

     

     

    

 

4.            Compensation
and Benefits; Expenses.

 

(a)            Base
Salary. During the Term, Executive shall receive a base salary (the
“Base Salary”) of $300,000 per year. The Base Salary shall be reviewed annually by the Board of Directors
of the Company (the “Board”) and may be increased (but not reduced) from time to time by the Board in
its sole discretion. The Base Salary shall be paid in accordance with the Company’s customary payroll practices, as in effect
from time to time, but no less often than monthly.

 

(b)           Annual
Bonus. For each fiscal year of the Company ending during the Term
(and pro-rated for 2015 by reference to Executive’s start date), Executive shall be eligible to earn a cash performance
bonus (the “Annual Bonus”) under the annual bonus program maintained by the Company from time to time,
if any, based on the attainment of Company and/or individual performance objectives, as determined by the Board acting in good
faith. Executive’s target annual bonus shall equal fifty-five percent (55%) of Executive’s Base Salary (the “Target
Bonus”) and Executive’s maximum annual bonus shall equal to one hundred percent (100%) of Executive’s
Base Salary. The actual amount of any Annual Bonus (if any) shall be determined by reference to the attainment of applicable performance
objectives, as determined by the Board in its sole discretion, and may equal zero. Any Annual Bonus shall be paid to Executive
on the date on which annual bonuses are paid generally by the Company to its senior executives with respect to such fiscal year,
subject to and conditioned on Executive’s continued employment with the Company through the applicable payment date (except
as otherwise provided in Section 6 of this Agreement).

 

(c)           EBITDA
Bonus. In addition to the Base Salary and Annual Bonus, if, as of
the end of the Company’s fiscal year 2015, the Company has achieved fifty million dollars ($50,000,000) of EBITDA (as defined
below), Executive will be eligible to receive a one-time cash bonus in such amount as may be determined by the Board in its sole
discretion (the “EBITDA Bonus”). Any EBITDA Bonus shall be paid to Executive at such time or
times and subject to such terms and conditions as may be determined by the Board in its sole discretion. For purposes of this
Agreement, “EBITDA” means earnings before interest, taxes, depreciation and amortization, as may be
adjusted for extraordinary, unusual and/or non-recurring events, in each case, as determined in the sole discretion of the Company.

 

(d)           Benefits.
During the Term, Executive will be eligible to participate in the health, welfare and retirement benefit plans, policies and programs
(including, as applicable, medical, dental, disability, life and accidental death insurance plans and programs) and any vacation
or paid-time-off policies or programs, in each case, as maintained by the Company for the benefit of its similarly-situated executives
from time to time. Nothing contained in this Section 4(d) shall create or be deemed to create any obligation on the part of the
Company to adopt or maintain any health, welfare, retirement, fringe or other benefit plan(s) or program(s) at any time.

 

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(e)           Stock
Option. As soon as reasonably practicable following the Effective Date, subject to approval by the Board, the Company shall
grant to Executive, under the Company’s 2015 Equity Incentive Plan (as amended from time to time, the “Plan”),
an incentive stock option to purchase 351,400 shares of Company common stock (the “Option”),
 with an exercise price equal to $2.48 per share, representing the fair market value of the shares of Company common stock
underlying the Option on the grant date. Subject to Executive’s continued employment with the Company through the applicable
vesting date, the Option will vest in accordance with the vesting schedule set forth in an award agreement, substantially in the
form attached hereto as Exhibit A, to be entered into between the Company and the Executive, which shall evidence the grant
of the Option (the “Option Agreement”). The Option shall be subject in all respects to the terms and conditions
set forth in the Plan and the Option Agreement.

 

(f)            Car
Allowance. In addition to the compensation described above, during
the Term, the Company shall pay to Executive a car allowance equal to $2,000 per month, subject to any applicable tax withholding
requirements (the “Car Allowance”). The Car Allowance shall be paid in installments in accordance with
the Company’s customary payroll practices, as in effect from time to time, but no less often than monthly.

 

(g)           Expenses.
During the Term, Executive shall be entitled to receive prompt reimbursement for all ordinary and necessary business expenses
incurred by Executive in the performance of Executive’s services hereunder in accordance with the policies, practices and
procedures of the Company applicable to similarly-situated executives of the Company, as in effect from time to time. In addition,
Executive shall be entitled to receive prompt reimbursement for the cost of all reasonable moving, relocation and related expenses
incurred by Executive in connection with Executive’s relocation to the Denver, Colorado area (collectively, the “Relocation
Expenses”) in accordance with the policies, practices and procedures of the Company applicable to similarly-situated
executives of the Company, as in effect from time to time. Further, Executive will be entitled to prompt reimbursement of: (i)
the cost of Executive’s temporary residence in the Denver, Colorado area and (ii) the cost of reasonable travel expenses
incurred by Executive and/or Executive’s spouse between South Carolina, and the Denver, Colorado area (collectively, the
“Travel Expenses”), in each case, (A) commencing on the Effective Date and ending on the date
on which Executive secures permanent housing in the Denver, Colorado area, but in no event later than three (3) months after the
Effective Date, and (B) in accordance with the policies, practices and procedures of the Company applicable to similarly-situated
executives of the Company, as in effect from time to time. Executive shall be solely liable for any taxes arising in connection
with the Travel Expenses (if any).

 

(h)          Vacation.
During the Term, Executive shall be entitled to accrue, use and rollover paid vacation in accordance with the applicable policies
and practices of the Company, as in effect from time to time.

 

5.            Termination
of Employment.

 

(a)           Death
or Disability. Executive’s employment
shall terminate automatically upon Executive’s death during the Term. The Company may terminate Executive’s employment
in the event of Executive’s Disability during the Term. For purposes of this Agreement, “Disability”
shall mean Executive is “disabled” within the meaning of Section 409A (as defined below).

 

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(b)           Cause.
Executive’s employment may be terminated at any time by the Company, for Cause (as defined below) or without Cause in accordance
with the terms of this Agreement. For purposes of this Agreement, “Cause” shall mean the occurrence of
one or more of the following:

 

(i)           Executive’s
conviction (that is non-appealable) of, or entry by Executive of a guilty or no contest plea to, a felony or other crime involving
moral turpitude;

 

(ii)          The
entry of a civil judgment (that is non-appealable) against Executive involving the commission of an act of fraud, embezzlement
or dishonesty in connection with the performance of Executive’s services under this Agreement or otherwise involving the
Company;

 

(iii)          Executive’s
willful failure to substantially perform or gross neglect of Executive’s duties (including, but not limited to, the failure
to follow any lawful directive from the Company within the reasonable scope of Executive’s duties) and Executive’s
failure to cure the same, to the extent capable of cure, within ten (10) days of receiving written notice from the Company;

 

(iv)         Executive’s
performance of acts that are or would reasonably be expected to become materially detrimental to the Company or any affiliate of
the Company and Executive’s failure to cure the same, to the extent capable of cure, within ten (10) days of receiving written
notice from the Company;

 

(v)          Executive’s
use of alcohol or illicit drugs in the workplace or otherwise in a manner that has or may reasonably be expected to have a detrimental
effect on Executive’s performance, Executive’s duties to the Company or the reputation of the Company or any affiliate
of the Company;

 

(vi)          Executive’s
commission of a material violation of any applicable rule or policy
of the Company of which Executive had notice prior to such violation and Executive’s failure to cure the same, to the extent
capable of cure, within ten (10) days of receiving written notice from the Company; or

 

(vii)        Executive’s
material breach of this Agreement or any other written agreement between Executive and the Company and/or its affiliates and Executive’s
failure to cure the same, to the extent capable of cure, within ten (10) days of receiving written notice from the Company.

 

(c)           Good
Reason. Executive may terminate Executive’s employment at any
time, for Good Reason (as defined below) or without Good Reason, in accordance with the terms of this Agreement. For purposes
of this Agreement, “Good Reason” shall mean the occurrence of any one or more of the following events:

 

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(i)            the
Company relocates Executive’s principal place of employment by more than fifty (50) miles from the Principal Location;

 

(ii)           a
material reduction in Executive’s Base Salary by the Board; or

 

(iii)          a
material reduction in Executive’s position and duties hereunder by the Board.

 

Notwithstanding
the foregoing, Executive’s termination shall not constitute a termination for “Good Reason” as a result of any
event in (i)-(iii) above unless (1) Executive first provides the Company or its successor with written notice thereof within ninety
(90) days after the occurrence of such event, (2) to the extent correctable, the Company or its successor fails to cure the circumstance
or event so identified within thirty (30) days after receipt of such notice, and (3) the effective date of Executive’s termination
for Good Reason occurs no later than thirty (30) days after the expiration of the Company’s cure period.

 

6.             Obligations
of the Company Upon Termination.

 

(a)           Accrued
Obligations. In the event that Executive’s employment under
this Agreement terminates during the Term for any reason, upon such termination, the Company will pay to Executive in a single
lump sum payment, within ten calendar (10) days after the Termination Date (as defined below), or such earlier date as may be
required by applicable law, the aggregate amount of (i) any earned but unpaid Base Salary through the Termination Date, (ii) accrued
but unused vacation through the Termination Date, and (iii) unreimbursed business expenses incurred prior to the Termination Date
that are reimbursable in accordance with Section 4(e) above (together, the “Accrued Obligations”). Vested
benefits (if any) under any employee benefit plans shall be governed by the terms and conditions of the applicable plans.

 

(b)          Termination
Without Cause, for Good Reason or due to a Non-Renewal of the Company.
If, during the Term and following the six (6) month anniversary of the Effective Date, the Company terminates Executive’s
employment without Cause, Executive terminates Executive’s employment for Good Reason or, during the period commencing on
the six (6)- month anniversary of the Effective Date and ending on the thirty (30)-month anniversary of the Effective Date, Executive’s
employment terminates due to a Non-Renewal of the Term by the Company (provided that Executive is willing and able at such time
to continue providing services to the Company pursuant to this Agreement), in any case, upon Executive’s “separation
from service” from the Company (within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”)) (a “Separation from Service” and, the date of any such Separation
from Service, the “Termination Date”), subject to and conditioned upon Executive’s timely
execution and non-revocation of a general release of claims substantially in the form attached hereto as Exhibit B
(the “Release”) and Executive’s continued
compliance with the provisions of Section 7 below (the “Restrictions”), Executive will be entitled to
receive the payments and benefits set forth below:

 

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(i)           The
Company shall pay to Executive an amount in cash equal to twelve (12) months of Executive’s then-current Base Salary (the
“Cash Severance”). The Company shall pay the Cash Severance in substantially equal installments in accordance
with the Company’s normal payroll practices during the period commencing on the Termination Date and ending on the twelve
(12)-month anniversary thereof (the “Severance Period”); provided, that if the aggregate period
during which Executive is entitled to consider and/or revoke the Release spans two (2) calendar years, no payments under this
Section 6(b) shall be made prior to the beginning of the second (2nd) such calendar year;

 

(ii)          The
Company shall pay to Executive a pro-rated Target Bonus for the year in which the Termination Date occurs, determined by multiplying
Executive’s Target Bonus for the year in which the Termination Date occurs by a fraction, the numerator of which equals
the number of days Executive was employed by the Company during the calendar year in which the Termination Date occurs and the
denominator of which equals 365 (the “Pro-Rated Bonus”). The Pro-Rated Bonus shall be payable
in a single lump-sum amount within sixty (60) days following the Termination Date, provided, that if such sixty (60)-day
period spans two (2) calendar years, the Pro-Rated Bonus shall be paid in the latter such calendar year; and

 

(iii)          During
the period commencing on the Termination Date and ending on the twelve (12)-month anniversary of the Termination Date or, if earlier,
the date on which Executive becomes eligible for coverage under a subsequent employer’s group health plan (in any case,
the “COBRA Period”), subject to Executive’s valid election to continue healthcare coverage under
Section 4980B of the Code and the regulation thereunder, the Company shall, in its sole discretion, either (A) continue to provide
to Executive and Executive’s dependents, at the Company’s sole expense, or (B) reimburse Executive and Executive’s
dependents for, coverage under its group health plan at the same levels in effect on the Termination Date; provided, however,
that if (I) any plan pursuant to which such benefits are provided is not, or ceases prior to the expiration of the continuation
coverage period to be, exempt from the application of Section 409A under Treasury Regulation Section 1.409A-1(a)(5), (II) the
Company is otherwise unable to continue to cover Executive or Executive’s dependents under its group health plans, or (III)
the Company cannot provide the benefit without violating applicable law (including, without limitation, Section 2716 of the Public
Health Service Act), then, in any such case, an amount equal to each remaining Company subsidy shall thereafter be paid to Executive
in substantially equal monthly installments over the COBRA Period (or remaining portion thereof) (the payments and benefits set
forth in this Section 6(b)(iii), collectively, the “COBRA Benefits”).

 

Notwithstanding
the foregoing, upon any breach by Executive of any of the Restrictions on or following the Termination Date, any unpaid portion
of the Cash Severance, Pro-Rated Bonus and/or COBRA Benefits (together, the “Severance”) shall cease
to be payable and shall be forfeited by Executive upon such breach, and any Severance amounts paid to Executive on or after the
date of any such breach shall be repaid by Executive to the Company immediately upon demand therefor.

 

(c)          Termination
due to Death or Disability. If during the Term and following the
six (6) month anniversary of the Effective Date, Executive’s employment terminates due to Executive’s death or the
Company due to Executive’s Disability, in either case, upon Executive’s Separation from Service from the Company,
subject to and conditioned upon Executive’s (or, if applicable, Executive’s estate’s) timely execution and non-revocation
of the Release and continued compliance with the Restrictions, Executive (or, if applicable, Executive’s estate) will be
entitled to receive the Pro-Rated Bonus, payable in a single lump-sum amount within sixty (60) days following the Termination
Date; provided, that if such sixty (60)-day period spans two (2) calendar
years, the Pro-Rated Bonus shall be paid in the latter such calendar year.

 

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(d)          Other
Terminations. If Executive’s employment
is terminated for any reason not described in Section 6(b) or (c) above (including, without limitation, due to a termination of
Executive’s employment (i) by the Company for Cause, (ii) by Executive without Good Reason, (iii) due to a Non-Renewal of
the Term by Executive, (iv) due to a Non-Renewal of the Term by the Company prior to the six (6)-month anniversary of the Effective
Date or following the thirty (30)-month anniversary of the Effective Date, (v) by the Company without Cause prior to the six (6)-month
anniversary of the Effective Date, or (vi) by Executive for Good Reason prior to the six (6)-month anniversary of the Effective
Date), the Company will pay Executive only the Accrued Obligations within thirty (30) days after the Termination Date (or such
earlier date as may be required under applicable law).

 

(e)          Six-Month
Delay. Notwithstanding anything to the contrary
in this Agreement, no compensation or benefits, including without limitation any severance payments under Section 6 hereof, shall
be paid to Executive during the six (6)-month period following Executive’s Separation from Service if the Company determines
that paying such amounts at the time or times indicated in this Agreement would be a prohibited distribution under Section 409A(a)(2)(B)(i)
of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day
following the end of such six (6)-month period (or such earlier date upon which such amount can be paid under Section 409A of the
Code without resulting in a prohibited distribution, including as a result of Executive’s death), the Company shall pay Executive
a lump-sum amount equal to the cumulative amount that would have otherwise been payable to Executive during such period (without
interest).

 

(f)           Termination
of Offices and Directorships; Full Settlement.
Upon termination of Executive’s employment for any reason, unless otherwise specified in a written agreement between Executive
and the Company, Executive shall be deemed to have resigned from all offices, directorships, and other employment positions then
held with the Company or its affiliates, if any, and shall take all actions reasonably requested by the Company to effectuate the
foregoing. Except as expressly provided in this Agreement or in any employee benefit plan under which Executive is entitled to
receive vested benefits (as described in Section 6(a) above, the Company shall have no further obligations, and Executive shall
have no further rights or entitlements, in connection with or following Executive’s termination of employment.

 

(g)          Obligations
of Executive Upon Termination. Upon termination
of Executive’s employment for any reason, Executive shall return to the Company (i) all keys, files, records (and copies
thereof), equipment (including, but not limited to, computer hardware, software and printers, wireless handheld devices, cellular
phones and pagers), access or credit cards, Company identification, and any other Company-owned property in Executive’s possession
or control, and (ii) all documents and copies, including hard and electronic copies, of documents in Executive’s possession
relating to any Confidential Information (as defined below) including without limitation, internal and external business forms,
manuals, correspondence, notes and computer programs, and Executive shall not make or retain any copy or extract of any of the
foregoing.

 

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7.            Confidential
Information; Non-Competition; Non-Solicitation.
To protect the trade secrets and Confidential Information (as defined below) of the Company and its customers and clients that
have been and will be entrusted to Executive, the business goodwill of the Company and its subsidiaries that will be developed
in and through Executive and the business opportunities that will be disclosed or entrusted to Executive by the Company and its
subsidiaries, and as an additional incentive for the Company to enter into this Agreement, Executive agrees as follows:

 

(a)           Nondisclosure
of Confidential Information. Executive acknowledges
that it is the policy of the Company to maintain as secret and confidential (i) all valuable and unique information, (ii) other
information heretofore or hereafter acquired by the Company, or any affiliated entity and deemed by it to be confidential, and
(iii) information developed or used by the Company or any affiliated entity relating to the business, operations, employees and/or
customers of the Company or any affiliated entity including, but not limited to, any employee information (all such information
described in clauses (i), (ii) and (iii) above, other than information which is (w) known by Executive as a result of Executive’s
extensive experience in the Business generally and not specific to the Company, (x) known to the public or becomes known to the
public through no fault of Executive, (y) received by Executive on a non- confidential basis from a person that is not bound by
an obligation of confidentiality to the Company or its affiliates, or (z) in Executive’s possession prior to receipt from
the Company or its affiliates, as evidenced by Executive’s written records, is hereinafter referred to as “Confidential
Information”). The parties recognize that the services to be performed by Executive pursuant to this Agreement are
special and unique and that by reason of Executive’s employment by the Company, Executive has acquired and will acquire Confidential
Information. Executive recognizes that all such Confidential Information is the property of the Company. Accordingly, Executive
shall not, at any time during or after the Term, except in the proper performance of Executive’s duties under this Agreement,
directly or indirectly, without the prior written consent of the Company, disclose to any Person (as defined below) other than
the Company, whether or not such Person is a competitor of the Company, and shall use Executive’s best efforts to prevent
the publication or disclosure of any Confidential Information obtained by, or which has come to the knowledge of, Executive prior
or subsequent to the date hereof. “Person” shall mean any individual, corporation, limited liability
company, partnership, firm, or other business of whatever nature.

 

(b)          Non-Competition.

 

(i)           During
the Term and, if Executive’s employment with the Company terminates after the six (6)-month anniversary of the Effective
Date, during the period beginning on the date on which Executive’s employment with the Company terminates for any reason
and ending on the later of (A) the twelve-(12) month anniversary of the date on which the Term terminates for any reason or (B)
the last day of the Severance Period (together, the “Restricted Period”), Executive shall not become
(i) engaged in any manner, directly or indirectly, either alone
or with any Person now existing or hereafter created, that is engaged in or preparing to engage in, the Business (as defined below),
or any portion thereof, in any region in which the Company or any of its affiliates is then operating or has firm plans to operate
(the “Geographic Area”), or (ii) directly
or indirectly, as a shareholder, bondholder, lender, officer, director, employee, consultant or otherwise, perform services for,
invest in, aid or abet or give information or financial assistance to any Person engaged in the Business, or any portion thereof,
in the Geographic Area, or any portion thereof; provided, however, that this Section 7(b)(i) shall not be deemed
to prohibit Executive from owning as an investment, directly or indirectly, up to two percent (2%) of the securities of any publicly-traded
company in the Geographic Area, or any portion thereof. For purposes of this Agreement, “Business” shall
mean the business of pumping, hauling, transporting and/or disposing of concrete, cement or aggregates and any other type of business
that the Company purses or engages in following the Effective Date.

 

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(ii)           If
the covenants set forth in Section 7(b)(i) are determined by any court of competent jurisdiction to be unenforceable by reason
of its extending for too great of a period of time or over too great a geographic area, or by reason of its being too extensive
in any other respect, such covenant shall be interpreted to provide for the longest period of time, over the greatest geographic
area and/or the broadest scope of activities and to otherwise have the broadest application, as shall be enforceable. The invalidity
or unenforceability of any particular provision of this Agreement shall not affect the other provisions hereof, which shall continue
in full force and effect. Without limiting the foregoing, the covenants contained herein shall be construed as separate covenants,
covering their respective subject matters, with respect to each of the separate cities, counties and states of the United States,
and each other country, and political subdivision thereof, in which the Business is being conducted.

 

(c)           Non-Solicitation
of Customers and Suppliers. During the Restricted
Period, Executive shall not, directly or indirectly, solicit or influence or attempt to solicit or influence any customers or suppliers
of the Company or any of its affiliates to terminate or limit their relationship as customers or suppliers of the Company or any
of its affiliates, or to divert their purchases, sales, supplies or other activities with respect to the Business to any other
Person.

 

(d)           Non-Solicitation
of Employees. During the Restricted Period, Executive shall not,
either directly or indirectly (i) solicit for employment by any Person any employees, consultants, independent contractors or
other service providers of the Company or any of its affiliates or (ii) solicit, canvass, induce or encourage any employee or
consultant of the Company or any of its affiliates to leave the employment or consulting of or cease providing services to the
Company or any of its affiliates; provided, however, that the foregoing clauses (i) and (ii) shall not apply to a general
advertisement or solicitation (or any hiring pursuant to such advertisement or solicitation) that is not specifically targeted
to such employees or consultants.

 

(e)           Non-Disparagement.
Executive agrees not to disparage the Company, any of its products or practices, or any of its directors, officers, agents, representatives,
stockholders or affiliates, either orally or in writing, during the Term or thereafter. The Company agrees not to disparage Executive
and to instruct its officers and directors not to disparage Executive, either orally or in writing, during the Term or thereafter.

 

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(f)            Remedies.
Executive acknowledges and understands that Sections
7(a), (b), (c), (d) and (e) and the other
provisions of this Agreement are of a special and unique nature, the breach of which cannot be adequately compensated for in damages
by an action at law, and that any breach or threatened breach of such provisions would cause the Company irreparable harm. In the
event of a breach or threatened breach by Executive of the provisions of this Agreement, the Company shall be entitled to an injunction
restraining him from such breach without the need to post bond therefor. Nothing contained in this Section 7 shall be construed
as prohibiting the Company from pursuing, or limiting the Company’s ability to pursue, any other remedies available for any
breach or threatened breach of this Agreement by Executive. The provisions of Section 8 below relating to arbitration of disputes
shall not be applicable to the Company to the extent it seeks a temporary or permanent injunction in any court to restrain Executive
from violating Section 7(a), (b), (c), (d) or (e) hereof.

 

(g)          Continuing
Operation, Survival. Except as specifically
provided in this Section 7, none of the termination of Executive’s employment, the Term or this Agreement will have any effect
on the continuing operation of this Section 7, and this Section 7 shall continue to apply in accordance with its terms during and
after Executive’s employment with the Company, whether or not any other provisions of this Agreement remain in effect at
such time.

 

8.            Arbitration.

 

(a)           Any
controversy or dispute that establishes a legal or equitable cause of action (“Arbitration Claim”)
between any two or more Persons Subject to Arbitration (defined below), including without limitation any controversy or dispute,
whether based on contract, common law, or federal, state or local statute or regulation, arising out of, or relating to Executive’s
employment or the termination thereof, shall be submitted to final and binding arbitration as the sole and exclusive remedy for
such controversy or dispute. Notwithstanding the foregoing, this Agreement shall not require any Person Subject to Arbitration
to arbitrate pursuant to this Agreement any claims: (i) under a Company benefit plan subject to the Employee Retirement Income
Security Act, as amended; or (ii) as to which applicable law not preempted by the Federal Arbitration Act prohibits resolution
by binding arbitration. Either party may seek provisional non-monetary remedies in a court of competent jurisdiction to the extent
that such remedies are not available or not available in a timely fashion through arbitration. It is the parties’ intent
that issues of arbitrability of any dispute shall be decided by the arbitrator.

 

(b)          “Persons
Subject to Arbitration” means, individually and collectively, (i) Executive, (ii) any person in privity with or
claiming through, on behalf of or in the right of Executive, (iii) the Company, (iv) any past, present or future affiliate, employee,
officer, director or agent of the Company, and/or (v) any person or entity alleged to be acting in concert with or to be jointly
liable with any of the foregoing.

 

(c)           The
arbitration shall take place before a single neutral arbitrator at the JAMS office in Denver, Colorado. Such arbitrator shall be
provided through JAMS by mutual agreement of the parties to the arbitration; provided that, absent such agreement, the arbitrator
shall be selected in accordance with the rules of JAMS then in effect. The arbitrator shall permit reasonable discovery. The arbitration
shall be conducted in accordance with the JAMS rule applicable to employment disputes in effect at the time of the arbitration.
The award or decision of the arbitrator shall be rendered in writing; shall be final and binding on the parties; and may be enforced
by judgment or order of a court of competent jurisdiction.

 

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(d)           In
the event of arbitration relating to this Agreement, the non-prevailing party shall reimburse the prevailing party for all costs
incurred by the prevailing party in connection with such arbitration (including, without limitation, reasonable legal fees in connection
with such arbitration, including any litigation or appeal therefrom).

 

(e)           WAIVER
OF TRIAL BY JURY OR COURT. EXECUTIVE AND
COMPANY UNDERSTAND THAT BY AGREEING TO ARBITRATE ANY ARBITRATION CLAIM, THEY WILL NOT HAVE THE RIGHT TO HAVE ANY ARBITRATION CLAIM
DECIDED BY A JURY OR A COURT, BUT SHALL INSTEAD HAVE ANY ARBITRATION CLAIM DECIDED THROUGH ARBITRATION.

 

(f)           WAIVER
OF OTHER RIGHTS. EXECUTIVE AND THE COMPANY
WAIVE ANY CONSTITUTIONAL OR OTHER RIGHT TO BRING CLAIMS COVERED BY THIS AGREEMENT OTHER THAN IN THEIR INDIVIDUAL CAPACITIES. EXCEPT
AS MAY BE PROHIBITED BY LAW, THIS WAIVER INCLUDES THE ABILITY TO ASSERT CLAIMS AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED
CLASS OR REPRESENTATIVE PROCEEDING.

 

(g)          This
Section 8 shall be interpreted to conform to any applicable law concerning the terms and enforcement of agreements to arbitrate
employment disputes. To the extent any terms or conditions of this Section 8 would preclude its enforcement, such terms shall be
severed or interpreted in a manner to allow for the enforcement of this Section 8. To the extent applicable law imposes additional
requirements to allow enforcement of this Section 8, this Agreement shall be interpreted to include such terms or conditions.

 

9.            Successors.
This Agreement is personal to Executive and, without the prior written consent of the Company, shall not be assignable by Executive
otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be binding upon
the Company and its successors and assigns.

 

10.          Directors’
and Officers’ Liability Insurance.
During the Term and thereafter, the Company shall provide Executive with coverage under the Company’s directors’ and
officers’ liability policy applicable to members of the Company’s Board and the Company’s officers, to the same
extent as such coverage is provided to such members of the Board and officers.

 

11.           Notice.
For the purposes of this Agreement, notices, demands and all other communications provided for in this Agreement shall be in writing
and shall be deemed to have been duly given when delivered either personally, by reputable overnight courier or by United States
certified or registered mail, return receipt requested, postage prepaid, addressed as follows:

 

If
to Executive:

At
Executive’s last known address

evidenced
on the Company’s

 

    	 	11	 

     

    

 

payroll
records.

 

If
to the Company:

Brundage-Bone
Concrete Pumping, Inc.

6475
Downing Street 

Denver,
CO 80229 

Attn:
Chief Executive Officer 

  Chairman
of the Board

 

with
a copy (which shall not constitute notice) to:

Peninsula
Pacific Strategic Partners 

10250
Constellation Blvd, Suite 2230 

Los
Angeles, CA 90067 

Attn:
Mary Ellen Kanoff

 

or
to such other address as any party may have furnished to the other in writing in accordance with this Agreement, except that notices
of change of address shall be effective only upon receipt.

 

12.          Section
409A.

 

(a)          To
the extent applicable, this Agreement shall be interpreted in accordance with Section 409A of the Code and Department of Treasury
regulations and other interpretative guidance issued thereunder, including without limitation any such regulations or other such
guidance that may be issued after the Effective Date (collectively, “Section 409A”). Notwithstanding
any provision of this Agreement to the contrary, in the event that following the Effective Date, the Company determines that any
compensation or benefits payable under this Agreement may be subject to Section 409A, the Company may adopt such amendments to
this Agreement or adopt other policies or procedures (including amendments, policies and procedures with retroactive effect),
or take any other actions that the Company determines are necessary or appropriate to preserve the intended tax treatment of the
compensation and benefits payable hereunder, including without limitation actions intended to (i) exempt the compensation and
benefits payable under this Agreement from Section 409A, and/or (ii) comply with the requirements of Section 409A, provided,
that this Section 12 does not, and shall not be construed so as to, create any obligation on the part of the Company to adopt
any such amendments, policies or procedures or to take any other such actions. In no event shall the Company, its affiliates or
any of their respective officers, directors or advisors be liable for any taxes, interest or penalties imposed under Section 409A
or any corresponding provision of state or local law.

 

(b)         Any
right to a series of installment payments pursuant to this Agreement, including without limitation the Severance, is to be treated
as a right to a series of separate payments. To the extent permitted under Section 409A, any separate payment or benefit under
this Agreement or otherwise shall not be deemed “nonqualified deferred compensation” subject to Section 409A to the
extent provided in the exceptions in Treasury Regulation Section 1.409A-1(b)(4), Section 1.409A-1(b)(9) or any other applicable
exception or provision of Section 409A.

 

13.          Withholding.
All payments hereunder will be subject to any required withholding of federal, state and local taxes pursuant to any applicable
law or regulation and the Company and its affiliates shall be entitled to withhold any and all such taxes from amounts payable
hereunder.

 

    	 	12	 

     

    

 

14.          Amendment;
Waiver; Survival. No provisions of this Agreement
may be amended, modified, or waived unless agreed to in writing and signed by Executive and by a duly authorized officer of the
Company. No waiver by either party of any breach by the other party of any condition or provision of this Agreement shall be deemed
a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. The respective rights
and obligations of the parties under this Agreement shall survive Executive’s termination of employment and the termination
of this Agreement to the extent necessary for the intended preservation of such rights and obligations.

 

15.          Governing
Law. The validity, interpretation, construction
and performance of this Agreement shall be governed by the laws of the State of Colorado without regard to its conflicts of law
principles.

 

16.          Validity.
The invalidity or unenforceability of any provision or provisions of this Agreement will not affect the validity or enforceability
of any other provision of this Agreement, which will remain in full force and effect.

 

17.          Counterparts.
This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original but all of which together
will constitute one and the same instrument.

 

18.          Section
Headings. The section headings in this Agreement
are for convenience of reference only, and they form no part of this Agreement and will not affect its interpretation.

 

19.           Effectiveness.
The effectiveness of this Agreement is expressly conditioned upon Executive’s (i) completion of reference and background
screening with results reasonably satisfactory to the Company, (ii) Executive’s satisfactory drug test and criminal background
check results, and (iii) Executive’s timely providing proof of Executive’s authorization to work in the United States.
If Executive fails to satisfy these conditions, this Agreement, together with that certain offer letter, dated as of May 11, 2015,
by and between the Company and Executive (the “Offer Letter”), shall be null and void and of no further
force or effect.

 

20.          Entire
Agreement. This Agreement sets forth the
final and entire agreement of the parties with respect to the subject matter hereof and supersedes all prior agreements, promises,
covenants, arrangements, communications, representations or warranties, whether oral or written, by the Company and Executive,
or any representative of the Company or Executive, with respect to the subject matter hereof (including, without limitation, the
Offer Letter).

 

21.          Further
Assurances. The parties hereby agree, without
further consideration, to execute and deliver such other instruments and to take such other action as may reasonably be required
to effectuate the terms and provisions of this Agreement.

 

[Signature
Page Follows]

 

    	 	13	 

     

    

 

Executive
hereby represents and warrants to the Company that (a) Executive is entering into this Agreement voluntarily and that the performance
of Executive’s duties and responsibilities with the Company will not violate any agreement between Executive and any other
person, firm, organization or other entity, and (b) Executive is not bound by the terms of any agreement with any previous employer
or other party to refrain from competing, directly or indirectly, with the business of such previous employer or other party, in
any case, that would be violated by Executive’s entering into this Agreement and/or providing services to the Company pursuant
to the terms of this Agreement.

 

IN
WITNESS WHEREOF, the parties have executed this Agreement effective the date first above written.

 

	 	BRUNDAGE-BONE CONCRETE PUMPING, INC.
	 	 	 
	 	By:	/s/ Bruce Young
	 	 	Name: Bruce Young
	 	 	Title: President and Chief Executive Officer
	 	 	 
	 	“EXECUTIVE”
	 	 
	 	/s/ Gary C. Bernardez
	 	Gary C. Bernardez

 

    	 	14	 

     

    

 

EXHIBIT
A

 

OPTION
AGREEMENT

 

     

     

    

 

EXHIBIT
B

 

GENERAL
RELEASE

 

For
valuable consideration, the receipt and adequacy of which are hereby acknowledged, the undersigned does hereby release and forever
discharge the “Releasees” hereunder, consisting of Brundage-Bone Concrete Pumping, Inc. (the “Company”),
and its partners, subsidiaries, associates, affiliates, successors, heirs, assigns, agents, directors, officers, employees,
representatives, lawyers, insurers, and all persons acting by, through, under or in concert with them, or any of them, of and
from any and all manner of action or actions, cause or causes of action, in law or in equity, suits, debts, liens, contracts,
agreements, promises, liability, claims, demands, damages, losses, costs, attorneys’ fees or expenses, of any nature whatsoever,
known or unknown, fixed or contingent (hereinafter called “Claims”), which the undersigned now has or
may hereafter have against the Releasees, or any of them, by reason of any matter, cause, or thing whatsoever from the beginning
of time to the date hereof.

 

The
Claims released herein include, without limiting the generality of the foregoing, any Claims in any way arising out of, based
upon, or related to the employment or termination of employment of the undersigned by the Releasees, or any of them; any alleged
breach of any express or implied contract of employment; any alleged torts or other alleged legal restrictions on Releasees’
right to terminate the employment of the undersigned; and any alleged violation of any federal, state or local statute or ordinance
including, without limitation, Title VII of the Civil Rights Act of 1964, the Age Discrimination In Employment Act, and the Americans
With Disabilities Act.1 Notwithstanding the foregoing, this general release (the “Release”)
shall not operate to release any rights or claims of the undersigned (i) to payments or benefits under Section 6 of that certain
Employment Agreement, dated as of June 25, 2015 (the “Employment Agreement”), which payments and benefits
(among other good and valuable consideration) are provided in exchange for this Release, (ii) to any Claims for indemnification
arising under any applicable indemnification obligation of the Company, or (iii) to any Claims which cannot be waived by an employee
under applicable law.

 

THE
UNDERSIGNED ACKNOWLEDGES THAT THE UNDERSIGNED HAS BEEN ADVISED BY LEGAL COUNSEL AND IS FAMILIAR WITH THE PROVISIONS OF CALIFORNIA
CIVIL CODE SECTION 1542, WHICH PROVIDES AS FOLLOWS:

 

“A
GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME
OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”

 

THE
UNDERSIGNED, BEING AWARE OF SAID CODE SECTION, HEREBY EXPRESSLY WAIVES ANY RIGHTS THE UNDERSIGNED MAY HAVE THEREUNDER, AS WELL
AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT.

 

 

1
To be updated to reflect applicable law.

 

     

     

    

 

IN
ACCORDANCE WITH THE OLDER WORKERS BENEFIT PROTECTION ACT OF 1990, THE UNDERSIGNED IS HEREBY ADVISED AS FOLLOWS:

 

		A.	THE
UNDERSIGNED HAS THE RIGHT TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS RELEASE;	 

 

		B.	THE UNDERSIGNED HAS [TWENTY-ONE
                                                                                 (21)]2 DAYS TO CONSIDER THIS RELEASE BEFORE SIGNING IT. IF THE UNDERSIGNED SIGNS THIS RELEASE PRIOR TO THE
                                                                                 EXPIRATION OF THE [TWENTY-ONE (21)] DAY PERIOD, THE UNDERSIGNED WAIVES THE REMAINDER OF THAT PERIOD. THE
UNDERSIGNED WAIVES THE RESTARTING OF THE [TWENTY-ONE (21)] DAY PERIOD IN THE EVENT OF ANY MODIFICATION OF THIS RELEASE, WHETHER
OR NOT MATERIAL; AND	 

 

		C.	THE
UNDERSIGNED HAS SEVEN (7) DAYS AFTER SIGNING THIS RELEASE TO REVOKE THIS RELEASE, AND THIS RELEASE WILL BECOME EFFECTIVE UPON
THE EXPIRATION OF THAT REVOCATION PERIOD.	 

 

If
the undersigned wishes to revoke this Release, the undersigned must deliver written notice via facsimile or email, stating the
undersigned’s intent to revoke to Mary Ellen Kanoff, Manager, at mkanoff@PeninsulaPacific.com,
on or before 5:00 p.m. on the seventh (7th) day after the date on which you sign this Release. The Executive acknowledges that
if the Executive revokes this Release, the undersigned will not receive any payments or benefits pursuant to Section 6(b) of the
Employment Agreement.

 

The
undersigned represents and warrants that there has been no assignment or other transfer of any interest in any Claim which the
undersigned may have against Releasees, or any of them, and the undersigned agrees to indemnify and hold Releasees, and each of
them, harmless from any liability, Claims, demands, damages, costs, expenses and attorneys’ fees incurred by Releasees, or
any of them, as the result of any such assignment or transfer or any rights or Claims under any such assignment or transfer. It
is the intention of the parties that this indemnity does not require payment as a condition precedent to recovery by the Releasees
against the undersigned under this indemnity.

 

The
undersigned agrees that if the undersigned hereafter commences any suit arising out of, based upon, or relating to any of the Claims
released hereunder or in any manner asserts against Releasees, or any of them, any of the Claims released hereunder, then the undersigned
agrees to pay to Releasees, and each of them, in addition to any other damages caused to Releasees thereby, all attorneys’
fees incurred by Releasees in defending or otherwise responding to said suit or Claim.

 

 

2
If multiple terminations are contemplated at the time of termination, this may need to be increased to 45 days.

     

     

    

 

The
undersigned further understands and agrees that neither the payment of any sum of money nor the execution of this Release shall
constitute or be construed as an admission of any liability whatsoever by the Releasees, or any of them, who have consistently
taken the position that they have no liability whatsoever to the undersigned.

 

IN
WITNESS WHEREOF, the undersigned has executed this Release this         day of                              
20     .

 

	 	
	 	Gary C. BernardezExhibit
10.8

 

Dated
17 November 2016

 

Camfaud
Concrete Pumps Limited 

 

and

 

David
Faud

 

 

 

SERVICE
AGREEMENT

 

 

LATHAM
& WATKINS

 

London

 

99
Bishopsgate 

London
EC2M 3XF 

(44)
020 7710 1000 (Tel) 

(44)
020 7374 4460 (Fax) 

www.lw.com

 

Contact:
Catherine Drinnan

     

     

    

 

	1.	DEFINITIONS AND INTERPRETATION	5
	 	1.1  	DEFINITIONS	5
	 	1.2  	INTERPRETATION AND CONSTRUCTION	7
	 	1.3  	HEADINGS	8
	2.	THE EMPLOYMENT	8
	 	2.1  	APPOINTMENT	8
	 	2.2 	WORK PERMITS AND WARRANTY	8
	3.	DURATION OF THE EMPLOYMENT	8
	 	3.1 	CONTINUOUS EMPLOYMENT	8
	 	3.2 	DURATION	8
	 	3.3 	PAYMENT IN LIEU OF NOTICE	9
	4.	HOURS AND PLACE OF WORK	9
	 	4.1 	HOURS OF WORK	9
	 	4.2 	PLACE OF WORK	9
	5.	SCOPE OF THE EMPLOYMENT	9
	 	5.1 	DUTIES OF THE EXECUTIVE	9
	 	5.2 	DIRECTORSHIPS AND DIRECTORS & OFFICERS INSURANCE	10
	 	5.3 	RIGHT TO SUSPEND DUTIES AND POWERS	11
	 	5.4 	JOINT APPOINTMENTS	11
	 	5.5 	INTRA-GROUP TRANSFER OR SECONDMENT	11
	6.	REMUNERATION	12
	 	6.1 	BASIC SALARY	12
	 	6.2 	SALARY REVIEW	12
	 	6.3 	CORPORATE GOVERNANCE	12
	7.	EXPENSES		12
	 	7.1 	OUT-OF-POCKET
    EXPENSES	12
	 	7.2 	COMPANY CREDIT/CHARGE CARDS	12
	8.	DEDUCTIONS	12
	9.	COMPANY CAR	13
	 	9.1 	MOTOR CAR ALLOWANCE	13
	10.	PENSION SCHEME	13
	 	10.1 	PENSIONS ARRANGEMENTS APPLICABLE TO THE EXECUTIVE	13
	 	10.2 	COMPANY’S RIGHT TO TERMINATE	13
	11.	OTHER INSURANCE & BENEFITS	13
	 	11.1 	HEALTH CARE SCHEME	13
	 	11.2 	MEDICAL EXAMINATIONS	14
	 	11.3 	LIFE ASSURANCE	14
	12.	HOLIDAYS		14
	 	12.1 	THE HOLIDAY YEAR	14

    	 	2	 

     

    

 

	 	12.2	ANNUAL ENTITLEMENT	14
	 	12.3	HOLIDAY ENTITLEMENT ON TERMINATION	14
	13.	ABSENCE	14
	 	13.1	ABSENCE DUE TO SICKNESS OR INJURY	14
	 	13.2	PAYMENT OF SALARY DURING ABSENCE	15
	 	13.3	ABSENCE CAUSED BY THIRD PARTY NEGLIGENCE	15
	14.	OTHER INTERESTS	15
	 	14.1	DISCLOSURE OF OTHER INTERESTS	15
	 	14.2	RESTRICTIONS ON OTHER ACTIVITIES AND INTERESTS OF THE EXECUTIVE	16
	 	14.3	TRANSACTIONS WITH THE COMPANY	16
	15.	ANTI-BRIBERY AND CORRUPTION POLICY AND PROCEDURES	16
	 	15.1	PROHIBITION OF CORRUPTION	16
	 	15.2	COMPLIANCE WITH THE ANTI-BRIBERY AND CORRUPTION POLICY	16
	 	15.3	CORRUPTION EVENTS	16
	16.	CONFIDENTIALITY AND COMPANY DOCUMENTS	17
	 	16.1	RESTRICTIONS ON DISCLOSURE AND USE OF CONFIDENTIAL INFORMATION	17
	 	16.2	PROTECTION OF COMPANY DOCUMENTS AND MATERIALS	17
	17.	INVENTIONS AND OTHER WORKS	17
	 	17.1	EXECUTIVE TO FURTHER INTERESTS OF THE COMPANY	17
	 	17.2	DISCLOSURE AND OWNERSHIP OF WORKS	18
	 	17.3	PROTECTION, REGISTRATION AND VESTING OF WORKS	18
	 	17.4	WAIVER OF RIGHTS BY THE EXECUTIVE	18
	 	17.5	POWER OF ATTORNEY	18
	 	17.6	STATUTORY RIGHTS	18
	18.	TERMINATION	19
	 	18.1	TERMINATION EVENTS	19
	 	18.2	COMPANY’S RIGHT TO PROCEED	19
		18.3	TERMINATION ON RESIGNATION AS DIRECTOR	20
	 	18.4	NO DAMAGES OR PAYMENT IN LIEU OF NOTICE	20
	19.	EVENTS UPON TERMINATION	20
	 	19.1	OBLIGATIONS UPON TERMINATION	20
	 	19.2	LOSS OF SHARE INCENTIVES	20
	20.	RESTRICTIONS AFTER TERMINATION	21
	 	20.1	DEFINITIONS	21
	 	20.2	RESTRICTIVE COVENANTS	22
	 	20.3	APPLICATION OF RESTRICTIVE COVENANTS TO OTHER GROUP COMPANIES	23
	 	20.4	EFFECT OF SUSPENSION ON RESTRICTED PERIOD	23
	 	20.5	FURTHER UNDERTAKINGS	23

 

    	 	3	 

     

    

 

	 	20.6 	PROTECTION OF COMPANY REPUTATION	23
	 	20.7 	EMPLOYMENT OFFER	24
	 	20.8 	SEVERANCE	24
	21.	RECONSTRUCTION AND AMALGAMATIONS	24
	22.	DISCIPLINARY AND GRIEVANCE PROCEDURE	24
	 	22.1 	DISCIPLINARY PROCEDURES	24
	 	22.2 	GRIEVANCE PROCEDURE	24
	23.	GENERAL	24
	 	23.1 	PROVISIONS WHICH SURVIVE TERMINATION	24
	 	23.2 	NO COLLECTIVE AGREEMENTS	25
	 	23.3 	COMPLIANCE WITH THE CODE ON CORPORATE GOVERNANCE	25
	24.	DATA PROTECTION AND PRIVACY	25
	 	24.1 	DATA PROTECTION	25
	 	24.2 	PRIVACY	25
	25.	AMENDMENTS, WAIVERS AND REMEDIES	25
	 	25.1 	AMENDMENTS	25
	 	25.2 	WAIVERS AND REMEDIES CUMULATIVE	25
	26.	ENTIRE AGREEMENT	26
	27.	NO OUTSTANDING CLAIMS	26
	28.	SEVERANCE	26
	29.	NOTICE	26
	 	29.1 	NOTICES AND DEEMED RECEIPT	26
	 	29.2	 ELECTRONIC SERVICE	27
	30.	GOVERNING LAW AND JURISDICTION	27
	 	30.1 	GOVERNING LAW	27
	 	30.2 	JURISDICTION	27

 

    	 	4	 

     

    

 

THIS
AGREEMENT is made on 17 November 2016

 

BETWEEN

 

		(1)	Camfaud Concrete Pumps Limited, a company registered in England with registered number 02635232
and having its registered office at High Road, Thornwood Common, Epping, Essex, CM 16 6LU (the “Company”); and

 

		(2)	David                                          Faud, residing at                                                                                  
                                                                              (the “Executive”).

 

BACKGROUND

 

The
Company wishes to employ the Executive as Group Managing Director on the terms and conditions of this Agreement and the Executive
wishes to accept such employment.

 

IT
IS AGREED as follows:

 

		1.	DEFINITIONS AND INTERPRETATION

 

		1.1	Definitions

 

In
this Agreement, unless the context otherwise requires:

 

	“Basic Salary”	means the salary, as specified in Clause 6.1(a) or, as appropriate, the reviewed annual salary from time to time;
	 	 
	“Board”	means the Board of directors of the Company from time to time or any duly authorised committee thereof, or where the relevant powers have been reserved to the Company’s members, its members from time to time;
	 	 
	“Confidential Information”	means all information which is identified or treated by the Company or any Group Company or any of the Group’s clients or customers as confidential or which by reason of its character or the circumstances or manner of its disclosure is evidently confidential including (without prejudice to the foregoing generality) any information about the personal affairs of any of the directors (or their families) of the Company or any Group Company, business plans, proposals relating to the acquisition or disposal of a company or business or proposed expansion or contraction of activities, maturing new business opportunities, research and development projects, designs, secret processes, trade secrets, product or services development and formulae, know-how, inventions, sales statistics and forecasts, marketing strategies and plans, costs, profit and loss and other financial information (save to the extent published in audited accounts), prices and discount structures and the names, addresses and contact and other details of: (a) employees and their terms of employment; (b) customers and potential customers, their requirements and their terms of business with the Company or Group; and (c) suppliers and potential suppliers and their terms of business (all whether or not recorded in writing or in electronic or other format);
	 	 
	“Corruption”	includes bribery, extortion, fraud, deception, collusion, and money laundering, and each of these terms shall have the meaning ascribed to them by applicable law including but not limited to the Bribery Act 2010, the Fraud Act 2006, and the Proceeds of Crime Act 2002, or any similar legislation in any other jurisdiction;

 

    	 	5	 

     

    

 

	 “Employment”	means the employment of the Executive under this Agreement or, as the context requires, the duration of that employment;
	 	 
	“Group”	means together or separately the Company, any holding  company or undertaking of the Company and any subsidiaries and subsidiary undertakings of the Company or such holding company or undertaking from time to time (and the words “subsidiary” and “holding company” shall have the meanings given to them in section 1159 in the Companies Act 2006;
	 	 
	“Group Company”	means any company within the Group;
	 	 
	“Health Care Scheme”	means private medical expenses insurance and life assurance, details of which have been notified to the Executive;
	 	 
	“Intellectual Property Rights”	 means any and all existing and future intellectual or industrial property rights in and to any Works (whether registered or unregistered), including all existing and future patents, copyrights, design rights, database rights, trade marks, semiconductor topography rights, plant varieties rights, internet rights/domain names, know-how and any and all applications for any of the foregoing and any and all rights to apply for any of the foregoing in and to any Works;
	 	 
	“Investment Agreement”	means the investment agreement related to Oxford Pumping Holdings Ltd. to be entered into on or around the date hereof between Concrete Pumping Holdings, Inc., the Investor, Oxford Pumping Holdings Ltd., David Anthony Faud, Peter Faud, Brendan Murphy and Damian Shepherd;
	 	 
	“Investor”	means Lux Concrete Holdings II S.a r.l., a societe a responsibilite limitee incorporated under the laws of the Grand Duchy of Luxembourg, having its registered office at 560A, rue de Neudorf, L-2220 Luxembourg, Grand-Duchy of Luxembourg and in the process of being registered with the Luxembourg Trade and Companies Register;
	 	 
	“Minority Holder”	means a person who either solely or jointly holds (directly or through nominees) any shares or loan capital in any company whose shares are listed or dealt in on a recognised investment exchange (as that term is defined by section 285 Financial Services and Markets Act 2000) provided that such holding does not, when aggregated with any shares or loan capital held by the Executive’s partner and/or his or his partner’s children under the age of 18, exceed 5% of the shares or loan capital of the class concerned for the time being issued;
	 	 
	“MIP”	means the management incentive plan the Executive is eligible to participate in pursuant to the Investment Agreement;

 

    	 	6	 

     

    

 

	“Remuneration Committee”	means the remuneration committee appointed by the Board;
	 	 
	“Share Incentive”	means any option or other right that the Executive may have to purchase, hold or otherwise acquire a share or right in respect of or relating to shares in the Company and/or a Group Company, including pursuant to the MIP;
	 	 
	“Termination Date”	means the date of termination of the Employment;
	 	 
	“Works”	means any documents, materials, models, designs, drawings, processes, inventions, formulae, computer coding, methodologies, know-how, Confidential Information or other work, performed made, created, devised, developed or discovered by the Executive in the course of the Employment (and whether or not made or discovered in the course of the Employment) either alone or with any other person in connection with or in any way affecting or relating to the business of the Company or any Group Company or capable of being used or adapted for use therein or in connection therewith;

 

		1.2	Interpretation
and Construction

 

Save
to the extent that the context or the express provisions of this Agreement require otherwise, in this Agreement:

 

		(a)	words importing the singular shall include the plural and vice versa;

 

		(b)	words importing any gender shall include all other genders;

 

		(c)	words importing the whole shall be treated as including reference to any partof the whole;

 

		(d)	any reference to a Clause, the Schedule or part of the Schedule is to the relevant Clause, Schedule
or part of the Schedule of or to this Agreement unless otherwise specified;

 

		(e)	reference to this Agreement or to any other document is a reference to this Agreement or to that
other document as modified, amended, varied, supplemented, assigned, novated or replaced from time to time;

 

		(f)	reference to a provision of law is a reference to that provision as extended, applied, amended,
consolidated or re-enacted or as the application thereof is modified from time to time and shall be construed as including reference
to any order, instrument, regulation or other subordinate legislation from time to time made under it except to the extent that
any extension, application, amendment, consolidation, re-enactment modification or construction takes effect after the date of
this Agreement and has the effect of increasing or extending any obligation or liability or otherwise adversely affects the rights
of, any Party;

 

		(g)	references to a “person” includes any individual, firm, company, corporation, body
corporate, government, state or agency of state, trust or foundation, or any association, partnership or unincorporated body (whether
or not having separate legal personality) or two or more of the foregoing;

    	 	7	 

     

    

 

		(h)	general words
shall not be given a restrictive meaning because they are followed by words which are particular examples of the acts, matters
or things covered by the general words and “including”, “include” and “in particular” shall
be construed without limitation; and

 

		(i)	the meaning of
any words coming after “other” or “otherwise” shall not be constrained by the meaning of any words coming
before “other” or “otherwise where a wider construction is possible.

 

		1.3	Headings

 

The
table of contents and the headings in this Agreement are included for convenience only and shall be ignored in construing this
Agreement.

 

		2.	THE
EMPLOYMENT

 

		2.1	Appointment

 

Subject
to the provisions of this Agreement, the Company employs the Executive and the Executive accepts employment as Group Managing Director
of the Company with effect from 1 November 2016 notwithstanding the date or dates of this Agreement.

 

		2.2	Work
Permits and warranty

 

		(a)	The Executive
warrants to the Company that by virtue of entering into this Agreement he will not be in breach of any express or implied obligation
to any third party, including any restrictive covenants.

 

		(b)	The Executive
warrants that he is legally entitled to work in the United Kingdom and will throughout the Employment continue to hold a valid
United Kingdom work permit if appropriate. The Executive warrants that he will notify the Company in advance of any possible change
to his immigration status, as soon as he becomes aware of any circumstances that might give rise to such change. Should the Company
discover that the Executive does not have permission to live and work in the United Kingdom or if any such permission is revoked,
the Company reserves the right to terminate the Employment immediately and without notice or pay in lieu of notice and without
referring to the warning stages of the Company’s disciplinary procedure.

 

		3.	DURATION
OF THE EMPLOYMENT

 

		3.1	Continuous
Employment

 

The
Executive’s continuous period of employment with the Company commenced on 1 August 1984.

 

		3.2	Duration

 

Subject
to the provisions of Clauses 3 and 18.1 the Employment shall continue unless and until terminated at any time by:

 

		(a)	the Company,
which must give to the Executive not less than 6 months’ prior written notice of termination of the Employment; or

 

		(b)	the Executive,
who must give to the Company not less than 6 months’ prior written notice of termination of the Employment.

 

    	 	8	 

     

    

 

		3.3	Payment
in lieu of notice

 

		(a)	The
                                         Company shall be entitled, at its sole discretion, to terminate the Employment immediately
                                         at any time by giving the Executive notice in writing. In these circumstances, subject
                                         to the terms of Clause 3.3(b), the Company will subsequently make a payment to the Executive
                                         in lieu of notice, calculated in accordance with the provisions of Clauses 3.3 (the payment
                                         being referred to as a “Notice Payment”).

 

		(b)	For the avoidance
of doubt, the Company is not obliged to make a Notice Payment. If the Company shall decide not to make a Notice Payment, the Executive
shall not be entitled to enforce that payment as a contractual debt nor as liquidated damages.

 

		(c)	The Notice Payment
will be paid less all deductions that are required or permitted by law to be made including in respect of income tax, national
insurance contributions and any sums due to the Company or any Group Company.

 

		(d)	The Notice Payment
will consist of a sum equivalent to the Basic Salary which the Executive would have received in respect of any notice period outstanding
on the Termination Date but will exclude any bonus, commission and share of profit and other benefits (for example any benefits
derived from any Share Incentives) which he would have received or would have accrued to him during that period.

 

		4.	HOURS
AND PLACE OF WORK

 

		4.1	Hours
of work

 

The
Executive agrees that he shall work normal business hours together with such additional hours as are necessary for the proper performance
of his duties. The Executive shall work a minimum of 40 hours per week from 08.30 am to 16.30 pm.

 

Working
Time Regulations

 

The
Executive has autonomous decision making powers. The duration of his working time is not measured or predetermined.

 

		4.2	Place
of work

 

		(a)	The Executive’s
place of work will initially be at the Company’s offices at High Road, Thornwood Common, Epping, Essex, CM16 6LU but the
Company may require the Executive to work at any place within the United Kingdom on either a temporary or an indefinite basis.
The Executive will be given reasonable notice of any change in his permanent place of work.

 

		(b)	The Executive
will not be required to be absent from the United Kingdom for a period exceeding 1 month at any one time.

 

		5.	SCOPE
OF THE EMPLOYMENT

 

		5.1	Duties
of the Executive

 

During
the Employment the Executive shall:

 

		(a)	undertake and
carry out to the best of his ability such duties and exercise such powers in relation to the Company or Group’s business
as may from time to time be assigned to or vested in him by the Board including where those duties require the Executive to work
for any Group Company (it being acknowledged that the Board will only assign such duties to the Executive as are appropriate to
the Executive’s position);

 

    	 	9	 

     

    

 

		(b)	in the discharge
of those duties and the exercise of those powers observe and comply with all lawful resolutions, regulations and directions from
time to time made by, or under the authority of, the Board and promptly upon request, give a full account to the Board or a person
duly authorised by the Board of all matters with which he is involved. He will provide the information in writing if requested;

 

		(c)	comply with the
Articles of Association (as amended from time to time) of the Company and any Group Company;

 

		(d)	do, or refrain
from doing, such things as are necessary or expedient to ensure compliance by himself and the Company and any Group Company with
applicable law and regulations including the UK Corporate Governance Code and all other regulatory authorities relevant to the
Company and any Group Company, and any codes of practice issued by the Company and any Group Company(as amended from time to time);

 

		(e)	act in accordance
with all statutory, fiduciary and common law duties that he owes to the Company and any Group Company;

 

		(f)	refrain from
doing anything which would cause him to be disqualified from acting as a director;

 

		(g)	unless prevented
by ill-health, holidays or other unavoidable cause, devote the whole of his working time, attention and skill to the discharge
of his duties hereunder as may be reasonably required;

 

		(h)	faithfully and
diligently perform his duties and at all times use his best endeavours to promote and protect the interests of the Company and
the Group;

 

		(i)	promptly disclose
to the Board full details of any wrongdoing by the Executive or any other employee of any Group Company where that wrongdoing is
material to that employee’s employment by the relevant company or to the interests or reputation of any Group Company;

 

		(j)	not incur on behalf of the Company or any Group Company any
capital expenditure in excess of such sum as may be authorised from time to time by resolution of the Board;

 

		(k)	not enter into on behalf of the Company or any Group Company
any commitment, contract or arrangement which is otherwise than in the normal course of the Company’s or the relevant Group Company’s
business or is outside the scope of his normal duties or authorisations or is of an unusual or onerous or long-term nature; and

 

		(1)	not engage any person on terms which vary from those established
from time to time by resolution of the Board.

 

		5.2	Directorships
and Directors & Officers insurance

 

		(a)	The Executive
may be required to act as a director of the Company and other Group Companies
(either executive or non-executive) as the Board requires from time to time. The Company reserves the right on giving written notice
to the Executive to terminate any office or directorship immediately at any time without impact on the Executive’s continuing
employment with the Company.

 

    	 	10	 

     

    

 

		(b)	The
Company shall for the duration of the Employment and for a period of not less than six calendar years following the Termination
Date, maintain directors’ and officers’ insurance for the benefit of the Executive in respect of those liabilities
which he may incur as a director or officer of the Company or any Group Company and for which such insurance is normally available.

 

		5.3	Right
to suspend duties and powers

 

		(a)	During
any notice period or for the purpose of investigating any matter in which the Executive is implicated or involved, the Company
reserves the right in its absolute discretion to suspend all or any of the Executive’s duties and powers on terms it considers
expedient or to require him to perform only such duties, specific projects or tasks as are assigned to him expressly by the Company
(including the duties of another position of equivalent status) in any case for such period or periods and at such place or places
consistent with Clause 4.2 (including, without limitation, the Executive’s home) as the Company in its absolute discretion
deems necessary (the “Garden Leave”). During any period of Garden Leave the terms and conditions set out in this Agreement
shall continue to apply to the Executive.

 

		(b)	The
Company may, at its sole discretion, require that during the Garden Leave the Executive shall not:

 

		(i)	enter
or attend the premises of the Company or any Group Company;

 

		(ii)	contact or have
any communication with any client or prospective client or supplier of the Company or any Group Company in relation to the business
of the Company or any Group Company;

 

		(iii)	contact or have
any communication with any employee, officer, director, agent or consultant of the Company or any Group Company in relation to
the business of the Company or any Group Company;

 

		(iv)	remain or become
involved in any aspect of the business of the Company or any Group Company except as required by such companies; or

 

		(v)	work
either on his own account or on behalf of any other person.

 

		(c)	DuringGarden
Leave, the Executive will continue to receive his Basic Salary and benefits but will not accrue any bonus, commission or share
of profit, provided always that any entitlements under the MIP will be dealt with in accordance with the terms of the Investment
Agreement.

 

		(d)	For
the avoidance of doubt, the Company may exercise its powers under this Clause 5.3 at
any time during the Employment including after notice of termination has been given by either party.

 

		5.4	Joint
appointments

 

The
Company shall be at liberty to appoint any other person or persons to act jointly with the Executive in any position to which he
may be assigned from time to time.

 

		5.5	Intra-Group
transfer or secondment

 

The
Company may, following consultation and reasonable notification to the Executive transfer this Agreement or second the Executive
to any Group Company at any time.

 

    	 	11	 

     

    

 

		6.	REMUNERATION

 

		6.1	Basic
Salary

 

		(a)	During the Employment
the Company shall pay the Executive a Basic Salary of not less than £150,000 per annum. The Basic Salary shall accrue from
day to day and be payable by credit transfer in equal monthly instalments in arrears on or around the last day of each calendar
month or otherwise as arranged from time to time.

 

		(b)	The Basic Salary
shall be inclusive of all director’s fees (if any) to which the Executive may become entitled including all remuneration
and director’s fees in respect of services rendered by the Executive to any Group Company.

 

		6.2	Salary
review

 

The
Basic Salary shall be reviewed annually, the first such review to take place in December 2017. The Company is not obliged to increase
the Basic Salary at any review.

 

		6.3	Corporate
Governance

 

All
payments and/or benefits payable to the Executive are subject to and conditional upon: (i) the terms of applicable law, regulation
and governance codes that regulate or govern executive pay from timeto time; and (ii) the consent of the shareholders of the
Company (together “Remuneration Governance”). The Company reserves the right to amend, reduce, hold back, defer,
claw back and alter the structure of any payments and benefits payable to the Executive in order to comply with Remuneration Governance
provided that the Company agrees to consult with the Executive before taking any such action.

 

		7.	EXPENSES

 

		7.1	Out-of-pocket
expenses

 

The
Company shall reimburse to the Executive (against receipts or other appropriate evidence as the Board may require) the amount of
all out-of-pocket expenses reasonably and properly incurred by him in the proper discharge of his duties hereunder to the extent
that such expenses are incurred in accordance with the Company’s business expenses policy from time to time.

 

		7.2	Company
credit/charge cards

 

In
the event that the Company issues a Company sponsored credit or charge card to the Executive he shall use such card only for expenses
reimbursable under Clause 7.1 and shall return it to the Company when so requested and in any event immediately on termination
of the Employment howsoever arising.

 

		8.	DEDUCTIONS

 

The
Executive agrees that the Company may deduct from any sums due to him under this Agreement any sums due by him to the Company including,
without limitation, any debits to his Company credit or charge card not authorised by the Company, the Executive’s pension
contributions (if any), any overpayments, loans or advances made to him by the Company, the cost of repairing any damage or loss
to the Company’s property caused by him and any losses suffered by the Company as a result of any gross negligence or material
breach of duty by the Executive.

 

    	 	12	 

     

    

 

		9.	COMPANY CAR

 

		9.1	Motor
car allowance

 

The
Executive will be paid an allowance of £833.33 per month to enable the Executive to obtain a car and will be reimbursed the
cost (which is currently 0.45p/mile) of his business mileage in terms of the mileage allowance applicable from time to time. The
car allowance will be subject to deduction of tax and National Insurance contributions.

 

		10.	PENSION
SCHEME

 

		10.1	Pensions
arrangements applicable to the Executive

 

		(a)	During the period
of the Executive’s service with the Company, the Company will comply at all times with the employer duties under Part 1 of
the Pensions Act 2008.

 

		(b)	The
                                         Executive is currently a member of the Camfaud Concrete Pumps Ltd EPS initiated by the
                                         Company (the “Scheme”) subject to its rules from time to time in force.
                                         Details of the Scheme are available from the Company.

 

		10.2	Company’s
right to terminate

 

The
Company shall be entitled at any time to terminate the Scheme or the Executive’s membership of it subject to providing him
with membership of an equivalent pension scheme the benefits of which shall be materially the same as the benefits provided to
the Executive under the Scheme.

 

		11.	OTHER
INSURANCE & BENEFITS

 

		11.1	Health
Care Scheme

 

Without
prejudice to the terms of Clauses 3 and 18, the Executive and his spouse and children shall be entitled during the Employment,
to participate at the Company’s expense in the Health Care Scheme subject to the following terms and conditions:

 

		(a)	the
Executive’s and his family’s participation is subject to the Company’s rules regarding eligibility in force
from time to time and the rules, terms and conditions of the relevant Health Care Scheme and/or insurance policy in force from
time to time (a copy of each scheme in force at any time shall be available from the Human Resources Department);

 

		(b)	theCompany
reserves the right to terminate the Executive’s or his family’s or the Company’s participation in any of the
Health Care Scheme(s), substitute a new scheme(s) for an existing scheme(s) and/or alter the level or type of benefits available
under any scheme(s);

 

		(c)	if
ascheme provider (e.g. an insurance company or pensions provider) refuses for any reason (whether under its own interpretation
of the rules, terms and conditions of the relevant insurance policy or otherwise) to accept a claim and/or provide the relevant
benefit(s) to the Executive (or his family) under the applicable Health Care Scheme, the Company shall not be liable to provide
(or compensate the Executive for the loss of) such benefit(s) nor shall it be obliged to take action against the provider to enforce
any rights under the Health Care Scheme; and

 

		(d)	the
fact that the termination of the Employment may result in the Executive or his family ceasing to be eligible to receive or continue
to receive benefits under the Health Care Scheme does not remove the Company’s right to terminate the Employment.

 

    	 	13	 

     

    

 

		11.2	Medical
examinations

 

At
any reasonable time during the Employment the Company may require the Executive to undergo a medical examination by a medical practitioner
appointed by the Company and at the Company’s expense and the Executive will consent to such examination and to the results
being made available to the Company.

 

		11.3	Life
assurance

 

If
the Executive so elects he may cease to participate in the Company’s life assurance scheme and be paid an allowance of £1,500
per annum in lieu subject to deduction of tax and National Insurance contributions.

 

		12.	HOLIDAYS

 

		12.1	The
holiday year

 

The
Company’s holiday year runs from 1st January to 31st December. Holidays can only be taken with the prior permission of the
Board.

 

		12.2	Annual
entitlement

 

		(a)	The Executive’s
annual entitlement to paid holidays is to those public or customary holidays recognised by the Company in any holiday year (of
which there are eight in total) and in addition, 25 contractual days’ holiday.

 

		(b)	Entitlement to
contractual holidays is accrued pro rata throughout the holiday year. The Executive will be entitled to take public and customary
holidays on the days that they are recognised by the Company during the holiday year.

 

		(c)	The Executive
is not entitled to carry any unused holiday entitlement forward to the next holiday year without the permission of the Company.

 

		12.3	Holiday
entitlement on termination

 

Upon
notice of termination of the Employment being served by either party, the Company may require the Executive to take any unused
holidays accrued in the holiday year in which the termination takes place at that time during any notice period. Alternatively,
the Company may, at its discretion, on termination of the Employment, make a payment in lieu of accrued contractual holiday entitlement.
The Executive will be required to make a payment to the Company in respect of any holidays taken in excess of his holiday entitlement
accrued at the Termination Date. Any sums so due may be deducted from any money owing to the Executive by the Company.

 

		13.	ABSENCE

 

		13.1	Absence
due to sickness or injury

 

If
the Executive is absent from work due to sickness or injury he shall:

 

		(a)	immediately inform
the Company of his sickness or injury; and

 

		(b)	In respect of
absence due to sickness, injury or accident that continues for more than 7 consecutive days (including weekends) the Executive
must provide the Company with a note of fitness to work stating the reason for the absence. Thereafter notes of fitness to work
must be provided to the Company to cover the remainder of the period of continuing sickness absence. Failure to follow these requirements
may result in disciplinary action and loss of Statutory Sick Pay and/or sick pay pursuant to Clause 13.2.

 

    	 	14	 

     

    

 

		13.2	Payment
                                         of salary during absence

 

		(a)	Subject to the
Executive complying with the terms of Clause 13.1, the Company may, at its sole discretion continue to pay Basic Salary and other
benefits during any period of absence due to sickness or injury.

 

		(b)	Payment of the
Basic Salary in terms of Clause 13.2(a) shall be made less:

 

		(i)	an amount equivalent
to any Statutory Sick Pay payable to the Executive;

 

		(ii)	any sums which
may be received by the Executive under any insurance policy effected by the Company; and

 

		(iii)	any other benefits
or sums which the Executive receives e.g. under a PHI or other insurance scheme in terms of the Employment or under any
relevant legislation

 

		(c)	Once payment
of Basic Salary under Clause 13.2(a) ceases, then the Executive shall have no right to any benefit or emolument from the Company.

 

		13.3	Absence
caused by third party negligence

 

If
the Executive’s absence is caused by the negligence of a third party in respect of which damages are recoverable, then all
sums paid by the Company during the period of absence [in terms of Clause 13.2 shall constitute loans to the Executive who shall:

 

		(a)	immediately notify
the Company of all the relevant circumstances and of any claim, compromise, settlement or judgment made or awarded; and

 

		(b)	if the Company
so requires, refund to it an amount determined by the Company, not exceeding the lesser of:

 

		(i)	the amount of
damages recovered by him in respect of loss of earnings during the period of absence under any compromise, settlement or judgment;
and

 

		(ii)	the sums advanced
to him by the Company in respect of the period of incapacity.

 

		14.	OTHER INTERESTS

 

		14.1	Disclosure
                                         of other interests

 

The
Executive shall disclose to the Board any interest of his own (or that of his partner or of any child of his or of his partner
under eighteen years of age):

 

		(a)	in any trade,
business or occupation whatsoever which is in any way similar to any of those in which the Company or any Group Company is involved;
and

 

		(b)	in any trade,
business or occupation carried on by any supplier or customer of the Company or any Group Company whether or not such trade, business
or occupation is conducted for profit or gain.

 

    	 	15	 

     

    

 

		14.2	Restrictions
on other activities and interests of the Executive

 

		(a)	During the Employment
the Executive shall not at any time, without the prior written consent of the Board, either alone or jointly with any other person,
carry on or be directly or indirectly employed, engaged, concerned or interested in any business, prospective business or undertaking
other than a Group Company. Nothing contained in this Clause shall preclude the Executive from being a Minority Holder unless the
holding is in a company that is a direct business competitor of the Company or any Group Company in which case, the Executive shall
obtain the prior consent of the Board to the acquisition or variation of such holding.

 

		(b)	If the Executive,
with the consent of the Board, accepts any other appointment he must keep the Company accurately informed of the amount of time
he spends working under that appointment.

 

		14.3	Transactions
with the Company

 

Subject
to any regulations issued by the Company, the Executive shall not be entitled to receive or obtain directly or indirectly any discount,
rebate, commission or any other form of gift or gratuity (any of these referred to as a “Gratuity”) as a result of
the Employment or any sale or purchase of goods or services effected or other business transacted (whether or not by him) by or
on behalf of the Company or any Group Company and if he (or any person in which he is interested) obtains any Gratuity he shall
account to the Company for the amount received by him (or a due proportion of the amount received by the person having regard to
the extent of his interest therein).

 

		15.	ANTI-BRIBERY
AND CORRUPTION POLICY AND PROCEDURES

 

		15.1	Prohibition
of Corruption

 

The
Company prohibits Corruption and will not tolerate any involvement or attempted involvement in Corruption by the Company or any
Executive, employees, agents, associates or any parties in any way associated with the business of the Company or the Group. This
prohibition extends to all of the Group’s business dealings and transactions in all countries in which it, its subsidiaries,
its agents and its associates operate.

 

		15.2	Compliance
with the Anti-Bribery and Corruption Policy

 

The
Executive must comply with any Anti-Bribery and Corruption Policy that the Company has in place from time to time and must report
any instances of Corruption (including those attempted and/or resisted) and/or corrupt activity involving the Company or any Group
Company or any of its officers, employees, agents or associates which he becomes aware of irrespective of the identity or position
of those alleged to be involved.

 

		15.3	Corruption
events

 

During
the Employment the Executive shall not:

 

		(a)	become involved
in bribery whether by offering, promising, giving, agreeing to, soliciting, demanding, requesting, receiving, or accepting bribes,
or behaving corruptly in expectation of a bribe or an advantage;

 

		(b)	offer any hospitality,
gift or gratuity to customers, suppliers or any other person connected with the business of the Company or the Group with the intention
of gaining a business advantage. Any gifts or invitations to hospitality events that the Executive wishes to issue which are expected
to exceed the value of £100 must be agreed in advance with the Board;

 

    	 	16	 

     

    

  

		(c)	receive or obtain
directly or indirectly any discount, rebate, commission, or gratuity over the value of £100 or any hospitality or other form
of gift known to have a value of over £100 (any of these referred to as a “Gratuity”) as a result of the Employment
or any sale or purchase of goods or services effected or other business transacted (whether or not by him) by or on behalf of the
Company or any Group Company and if he (or any person in which he is interested) obtains any Gratuity he must first seek permission
from the Board and may be required to account to the Company for the amount received by him (or a due proportion of the amount
received by the person having regard to the extent of his interest therein).

 

		16.	CONFIDENTIALITY
AND COMPANY DOCUMENTS

 

		16.1	Restrictions
on disclosure and use of Confidential Information

 

The
Executive must not either during the Employment (except in the proper performance of his duties) or at any time (without limit)
after the Termination Date:

 

		(a)	divulge
or communicate to any person;

 

		(b)	use for his own
purposes or for any purposes other than those of the Company or any Group Company; or

 

		(c)	through any failure
to exercise due care and diligence, cause any unauthorised disclosure of;

 

any
Confidential Information. The Executive must at all times use his best endeavours to prevent publication or disclosure of any Confidential
Information. These restrictions shall cease to apply to any information which shall become available to the public generally otherwise
than through the default of the Executive.

 

		16.2	Protection
of Company documents and materials

 

All
notes, records, lists of customers, suppliers and employees, correspondence, computer and other discs or tapes, data listings,
codes, keys and passwords, designs, drawings and other documents or material whatsoever (whether made or created by the Executive
or otherwise and in whatever medium or format) relating to the business of the Company or any Group Company or any of its or their
clients (and any copies of the same):

 

		(a)	shall be and
remain the property of the Company or the relevant Group Company or client; and

 

		(b)	shall be handed
over by the Executive to the Company or the relevant Group Company or client on demand by the Company and in any event on the termination
of the Employment.

 

		17.	INVENTIONS
AND OTHER WORKS

 

		17.1	Executive
to further interests of the Company

 

The
Company and the Executive agree that the Executive may make or create Works in the course of and/or during the Employment and agree
that in this respect the Executive is obliged to further the interests of the Company and any Group Company.

 

    	 	17	 

     

    

 

		17.2	Disclosure
and ownership of Works

 

The
Executive must immediately disclose to the Company all Works and all Intellectual Property Rights. Both the Works and all Intellectual
Property Rights will (subject to sections 39 to 43 Patents Act 1977) belong to and be the absolute property of the Company or any
other person the Company may nominate.

 

		17.3	Protection,
registration and vesting of Works

 

The
Executive shall immediately on request by the Company (whether during or after the Employment) and at the expense of the Company:

 

		(a)	apply
                                         or join with the Company or any Group Company in applying for any Intellectual Property
                                         Rights or other protection or registration (“Protection”) in the United
                                         Kingdom and in any other part of the world for, or in relation to, any Works;

 

		(b)	execute all instruments
and do all things necessary for vesting all Intellectual Property Rights or Protection when obtained and all right, title and interest
to and in the same absolutely and as sole beneficial owner in the Company or such Group Company or other person as the Company
may nominate; and

 

		(c)	sign and execute
any documents and do any acts reasonably required by the Company in connection with any proceedings in respect of any applications
and any publication or application for revocation of any Intellectual Property Rights or Protection.

 

		17.4	Waiver
of rights by the Executive

 

The
Executive hereby irrevocably and unconditionally waives all rights under Chapter IV Copyright, Designs and Patents Act 1988 and
any other moral rights which he may have in the Works, in whatever part of the world such rights may be enforceable including:

 

		(a)	the right conferred
by section 77 of that Act to be identified as the author of any such Works; and

 

		(b)	the right conferred
by section 80 of that Act not to have any such Works subjected to derogatory treatment.

 

		17.5	Power
of Attorney

 

The
Executive hereby irrevocably appoints the Company to be his attorney and in his name and on his behalf to execute any such act
and to sign all deeds and documents and generally to use his name for the purpose of giving to the Company the full benefit of
this Clause. The Executive agrees that, with respect to any third parties, a certificate signed by any duly authorised officer
of the Company that any act or deed or document falls within the authority hereby conferred shall be conclusive evidence that this
is the case.

 

		17.6	Statutory
rights

 

Nothing
in this Clause 17 shall be construed as restricting the rights of the Executive or the Company under sections 39 to 43 Patents
Act 1977.

 

    	 	18	 

     

    

 

		18.	TERMINATION

 

		18.1	Termination
events

 

Notwithstanding
the provisions of Clauses 3 and 11 the Company shall be entitled, but not bound, to terminate the Employment with immediate effect
by giving to the Executive notice in writing at any time after the occurrence of any one or more of the following events:

 

		(a)	if the Executive
is guilty of any gross misconduct or behaviour which tends to bring himself or the Company or any Group Company into disrepute;
or

 

		(b)	if the Executive
commits any material or persistent breach of this Agreement (in the case of a non-material persistent breach, having been given
notice in writing of the breach and a reasonable opportunity to rectify the breach) or fails to comply with any reasonable order
or direction of the Board; or

 

		(c)	if the Executive
fails to perform his duties to the reasonable satisfaction of the Board (having been given notice in writing of: (i) the areas
of underperformance, (ii) the improvements in performance that are reasonably required by the Board; and (iii) a reasonable period
of time to make the necessary improvements in performance); or

 

		(d)	if he becomes
insolvent or bankrupt or compounds with or grants a trust deed for the benefit of his creditors; or

 

		(e)	if his behaviour
(whether or not in breach of this Agreement) can reasonably be regarded as materially prejudicial to the interests of the Company
or any Group Company, including if he is found guilty of any criminal offence punishable by imprisonment (whether or not such sentence
is actually imposed); or

 

		(f)	if he has an
order made against him disqualifying him from acting as a company director; or

 

		(g)	if
the Executive is removed from membership of any industry regulating body; or

 

		(h)	if the Executive
is found guilty of a breach of the rules or regulations of the regulatory authority relevant to the Company or any Group Company
or any code of practice issued by the Company or any Group Company (as amended from time to time); or

 

		(i)	if the Executive
commits any material breach of Clause 9 (Restrictions on the Managers) or Clause 6.2 (Conduct of Business) in so far as the undertakings
in Clause 6.2 relate to the obligations
in Paragraph 2 of Schedule 6 (Reserved Matters) of the Investment Agreement which, if capable of remedy, is not remedied to the
satisfaction of the Investor (as defined in the Investment Agreement) within 20 days of the Investor becoming aware of the breach
and notifying the Executive accordingly; or

 

		(j)	if the Executive is found guilty of any offence of bribery
under the Bribery Act 2010, or other bribery legislation in any other jurisdiction, breach of Clause 15 of this Agreement or the
Company’s Anti-Bribery and Corruption Policy.

 

		18.2	Termination
on resignation as director

 

If
the Executive resigns as a director of the Company or any Group Company (otherwise than at the request of the Company), he shall
be deemed to have terminated the Employment with effect from the date of his resignation and the Employment shall terminate at
that time, unless the Company agrees with the Executive that the Employment should continue, in which case the Employment may be
subject to any terms and conditions stipulated by the Company in its absolute discretion.

 

    	 	19	 

     

    

 

		18.3	No
damages or payment in lieu of notice

 

In
the event of the Employment being terminated pursuant to Clause 18.1, the Executive shall not be entitled to receive any payment
in lieu of notice nor make any claim against the Company or any Group Company for damages for loss of office or termination of
the Employment. Regardless of this, the termination shall be without prejudice to the continuing obligations of the Executive under
this Agreement.

 

		19.	EVENTS
UPON TERMINATION

 

		19.1	Obligations
upon termination

 

Immediately
upon the termination of the Employment howsoever arising or immediately at the request of the Board at any time after either the
Company or the Executive has served notice of termination of the Employment, the Executive shall:

 

		(a)	deliver to the
Company all Works, materials within the scope of Clause 16.2 and all other materials and property including credit or charge cards,
mobile telephone (although you will be entitled to retain your mobile telephone number), computer equipment, disks and software,
passwords, encryption keys or the like, keys, security pass, letters, stationery, documents, files, films, records, reports, plans
and papers (in whatever format including electronic) and all copies thereof used in or relating to the business of the Company
or the Group which are in the possession of or under the control of the Executive;

 

		(b)	return to the
Company in good condition any motor car provided to the Executive together with all keys and relevant documentation;

 

		(c)	resign (without
claim for compensation) as a director and from all other offices held by him in the Company or any Group Company or otherwise by
virtue of the Employment. For the avoidance of doubt, such resignations shall be without prejudice to any claims the Executive
may have against the Company or any Group Company arising out of the termination of the Employment; and

 

		(d)	transfer without
payment, to the Company, or as the Company may direct, any shares or other securities held by the Executive as nominee or trustee
for the Company or any Group Company;

 

and
should the Executive fail to do so the Company is hereby irrevocably authorised to appoint some person to sign any documents and/or
do all things in his name and on his behalf necessary to give effect thereto,

 

		19.2	Lossof
Share Incentives

 

		(a)	Subject to clause
19.2(b) on the termination of the Employment (howsoever arising, including lawfully or unlawfully), the Executive shall not be
entitled to any compensation or payment for the loss of the Share Incentives or any benefit which could have been derived from
them, whether the compensation or payment is claimed by way of a payment in lieu of notice, damages for wrongful dismissal, breach
of contract or loss of office, or compensation for unfair dismissal, or on any other basis.

 

		(b)	The Executive’s
entitlements under the MIP shall be dealt with in accordance with the terms of the Investment Agreement.

 

    	 	20	 

     

    

 

		20.	RESTRICTIONS AFTER TERMINATION

 

		20.1	Definitions

 

Since
the Executive is likely to obtain Confidential Information in the course of the Employment and personal knowledge of and influence
over suppliers, customers, clients and employees of the Company and Group Companies, the Executive hereby agrees with the Company
that in addition to the other terms of this Agreement and without prejudice to the other restrictions imposed upon him by law,
he will be bound by the covenants and undertakings contained in Clauses 20.2 to 20.7. In this Clause 20, unless the context otherwise
requires:

 

	“Customer”	means any person to which the Company distributed, sold or supplied Restricted Products or Restricted Services during the Relevant Period and with which, during that period either the Executive, or any employee under the direct or indirect supervision of the Executive, had material dealings in the course of the Employment, but always excluding therefrom, any division, branch or office of such person with which the Executive and/or any such employee had no dealings during that period;
	 	 
	“Prospective Customer”	means any person with which the Company had discussions during the Relevant Period regarding the possible distribution, sale or supply of Restricted Products or Restricted Services and with which during such period the Executive, or any employee who was under the direct or indirect supervision of the Executive, had material dealings in the course of the Employment, but always excluding therefrom any division, branch or office of that person with which the Executive and/or any such employee had no dealings during that period;
	 	 
	“Relevant Period”	means: (i) where the Employment is continuing, the period of the Employment; and (ii) where the Employment has terminated, the period of twelve months immediately preceding the Termination Date;
	 	 
	“Restricted Area”	
        means:

         

        (a)           England,
        Scotland, Wales; and

         

        (b)          any
        other country in the world where, on the Termination Date, the Company dealt in Restricted Products or Restricted Services;

	 	 
	“Restricted Employee”	means any person who was a director, employee or consultant of the Company at any time within the Relevant Period who by reason of that position and in particular his seniority and expertise or knowledge of Confidential Information or knowledge of or influence over the clients, customers or contacts of the Company is likely to cause damage to the Company if he were to leave the employment of the Company and become employed by a competitor of the Company;
	 	 
	“Restricted Period”	means the period commencing on the Termination Date and, subject to the terms of Clause 20.4, continuing for 12 months;
	 	 
	“Restricted Products”	means any products, equipment or machinery researched into, developed, manufactured, supplied, marketed, distributed or sold by the Company and with which the duties of the Executive were materially concerned or for which he was responsible during the Relevant Period, or any products, equipment or machinery of the same type or materially similar to those products, equipment or machinery;

 

    	 	21	 

     

    

 

	 “Restricted Services”	means any services (including but not limited to technical and product support, technical advice and customer services) researched into, developed or supplied by the Company and with which the duties of the Executive were materially concerned or for which he was responsible during the Relevant Period, or any services of the same type or materially similar to those services;
	 	 
	“Supplier”	means any supplier, agent, distributor or other person who, during the Relevant Period was in the habit of dealing with the Company and with which, during that period, the Executive, or any employee under the direct or indirect supervision of the Executive, had material dealings in the course of the Employment.

 

		20.2	Restrictive
covenants

 

Both
during the Employment and during the Restricted Period, the Executive will not, without the prior written consent of the Company
(such consent not to be unreasonably withheld), whether by himself, through his employees or agents or otherwise and whether on
his own behalf or on behalf of any person, directly or indirectly:

 

		(a)	so as to compete
with the Company, solicit business from or canvas any Customer or Prospective Customer in respect of Restricted Products or Restricted
Services;

 

		(b)	so as to compete
with the Company, accept orders from, act for or have any business dealings with, any Customer or Prospective Customer in respect
of Restricted Products or Restricted Services;

 

		(c)	within the Restricted
Area, be employed or engaged or at all interested (except as a Minority Holder) in that part of a business or person which is involved
in the business of researching into, developing, manufacturing, distributing, selling, supplying or otherwise dealing with Restricted
Products or Restricted Services, if the business or person is or seeks to be in competition with the Company. For the purposes
of this sub-clause, acts done by the Executive outside the Restricted Area shall nonetheless be deemed to be done within the Restricted
Area where their primary purpose is to distribute, sell, supply or otherwise deal with Restricted Products or Restricted Services
in the Restricted Area;

 

		(d)	solicit or induce
or endeavour to solicit or induce any person who on the Termination Date, was a Restricted Employee (and with whom the Executive
had dealings during the Relevant Period) to cease working for or providing services to the Company, whether or not any such person
would thereby commit a breach of contract;

 

		(e)	employ or otherwise
engage any Restricted Employee in the business of researching into, developing, manufacturing, distributing, selling, supplying
or otherwise dealing with Restricted Products or Restricted Services if that business is, or seeks to be, in competition with the
Company; or

 

		(f)	solicit or induce
or endeavour to solicit or induce any Supplier to cease to deal with the Company and shall not interfere in any way with any relationship
between a Supplier and the Company.

 

    	 	22	 

     

    

 

		20.3	Application
of restrictive covenants to other Group Companies

 

Clause
20.2 shall also apply as though references to the “Company” in Clauses 20.1 and 20.2 include references to each Group
Company in relation to which the Executive has in the course of the Employment or by reason of rendering services to or holding
office in such Group Company:

 

		(a)	acquired knowledge
of its products, services, trade secrets or Confidential Information; or

 

		(b)	had
personal dealings with its Customers or Prospective Customers; or

 

		(c)	supervised directly
or indirectly employees having personal dealings with its Customers or Prospective Customers;

 

but
so that references to the “Company” shall for this purpose be deemed to be references to the relevant Group
Company. The obligations undertaken by the Executive pursuant to this Clause 20.3 shall, with respect to each Group Company, constitute
a separate and distinct covenant in favour of and for the benefit of each Group Company and which shall be enforceable either
by the particular Group Company or by the Company on behalf of the Group Company and the invalidity or unenforceability of any
such covenant shall not affect the validity or enforceability of the covenants in favour of any other Group Company.

 

		20.4	Effect
of suspension on Restricted Period

 

If
the Company exercises its right to suspend the Executive’s duties and powers under Clause
5.3 after notice of
termination of the Employment has been given, the aggregate of the period of the suspension and the Restricted Period shall
not exceed 12 months and if the aggregate of the two periods would exceed 12 months, the Restricted Period shall be
reduced accordingly.

 

		20.5	Further
undertakings

 

The
Executive hereby undertakes to the Company that he will not at any time:

 

		(a)	during the Employment
or after the Termination Date engage in any trade or business or be associated with any person engaged in any trade or business
using any trading names used by the Company or any Group Company including the name(s) or incorporating the word(s) “Camfaud
Concrete Pumps”, “PCP Group”, “Premier Concrete” and “South Coast”;

 

		(b)	after the Termination
Date make any public statement in relation to the Company or any Group Company or any of their officers or employees; or

 

		(c)	after the Termination
Date represent or otherwise indicate any association or connection with the Company or any Group Company or for the purpose of
carrying on or retaining any business represent or otherwise indicate any past association with the Company or any Group Company.

 

		20.6	Protection
of Company reputation

 

The
Executive undertakes that, he will not at any time during the Employment and at any time (without limit) after the Termination
Date make or publish or cause to be made or published to anyone in any circumstances any disparaging remarks concerning the Company
or any Group Company or any of its or their respective shareholders, officers, employees or agents.

 

    	 	23	 

     

    

 

		20.7	Employment
Offer

 

In
the event that the Executive receives an offer of employment or request to provide services either during the Employment or during
the terms of the Restrictive Period set out in Clause 20.1, the Executive shall:

 

		(a)	provide immediately
to such person, company or other entity making such an offer or request a full and accurate copy of the Restrictive Covenants set
out at Clause 20 of this Agreement; and

 

		(b)	notify the Company
within 3 working days of receipt of the offer and the identity of the person, company or other entity making the offer.

 

		20.8	Severance

 

The
restrictions in this Clause 20 (on which the Executive has had the opportunity to take independent advice, as the Executive hereby
acknowledges) are separate and severable restrictions and are considered by the parties to be reasonable in all the circumstances.
It is agreed that if any such restrictions, by themselves, or taken together, shall be adjudged to go beyond what is reasonable
in all the circumstances for the protection of the legitimate interests of the Company or a Group Company but would be adjudged
reasonable if some part of it were deleted, the relevant restriction or restrictions shall apply with such deletion(s) as may be
necessary to make it or them valid and enforceable.

 

		21.	RECONSTRUCTION AND AMALGAMATIONS

 

If
the Company undergoes any process of reconstruction or amalgamation (whether or not involving the liquidation of the Company) and
the Executive is offered employment by the successor or proposed successor to the Company or any Group Companies on terms not materially
less favourable overall to those under this Agreement whether as to duties, responsibilities, remuneration or otherwise and the
Executive does not accept the offer within one month of it being made, then the Executive shall have no claim against the Company
or the successor to the Company in respect of termination of this Agreement and the Employment.

 

		22.	DISCIPLINARY AND GRIEVANCE PROCEDURE

 

		22.1	Disciplinary
procedures

 

Any
disciplinary action taken in connection with the Employment will usually be taken in accordance with the Company’s normal
disciplinary procedures (which are workplace rules and not contractually binding) a copy of which is available from the Secretary
of the Company.

 

		22.2	Grievance
procedure

 

If
the Executive wishes to obtain redress of any grievance relating to the Employment or is dissatisfied with any reprimand, suspension
or other disciplinary step taken by the Company, he shall apply in writing to the Board, setting out the nature and details of
any such grievance or dissatisfaction.

 

		23.	GENERAL

 

		23.1	Provisions
which survive termination

 

Any
provision of this Agreement which is expressed or intended to have effect on, or to continue in force after, the termination of
this Agreement shall have such effect, or, as the case may be, continue in force, after such termination.

 

    	 	24	 

     

    

 

		23.2	No
collective agreements

 

There
are no collective agreements that directly affect the terms and conditions of the Employment.

 

		23.3	Compliance
with the code on Corporate Governance

 

The
Executive shall comply, to the extent that the Board considers appropriate for a company the size of the Company, with the provisions
of “The UK Corporate Governance Code” a corporate governance code issued by the Financial Reporting Council (as the
same is amended from time to time).

 

		24.	DATA PROTECTION AND PRIVACY

 

		24.1	Data
Protection

 

The
Executive acknowledges and agrees that the Company is permitted to hold personal information (including sensitive personal data)
about the Executive as part of its personnel and other business records and may use such information in the course of the Company’s
or the Group’s business. The Executive agrees that the Company may disclose such information to third parties in the event
that such disclosure is in the Company’s view required for the proper conduct of the Company’s business or that of
any Group Company. This Clause applies to information held, used or disclosed in any medium.

 

		24.2	Privacy

 

All
communications, whether by telephone, email, fax, or any other means, which are transmitted, undertaken or received using the
Company’s IT or communications systems (“Company Systems”) or on Company premises will be treated by
the Company as work related. The Company Systems are provided for work use only. The Company may intercept, record and monitor
all communications made by the Executive and his use of the Company Systems, without further notice. The Executive should not
regard any communications or use as being private.

 

		25.	AMENDMENTS, WAIVERS AND REMEDIES

 

		25.1	Amendments

 

No
amendment or variation of this Agreement or any of the documents referred to in it (other than an alteration in the Basic Salary)
shall be effective unless it is in writing and signed by or on behalf of each of the parties.

 

		25.2	Waivers
and remedies cumulative

 

		(a)	The
rights of each party under this Agreement:

 

		(i)	may
be exercised as often as necessary;

 

		(ii)	are
cumulative and not exclusive of its rights under the general law; and

 

		(iii)	may
be waived only in writing and specifically.

 

		(b)	Delay
in exercising or non-exercise of any right is not a waiver of that right.

 

		(c)	Any
right of rescission conferred upon the Company by this Agreement shall be in addition to and without prejudice to all other rights
and remedies available to it.

    	 	25	 

     

    

 

		26.	ENTIRE AGREEMENT

 

		(a)	This Agreement
and the documents referred to in it constitute the entire agreement and understanding of the parties and supersede and extinguish
all previous agreements, promises, assurances, warranties, representations and understandings between the parties, whether written
or oral, relating to the subject matter of this Agreement.

 

		(b)	Each party acknowledges
that in entering into this Agreement it does not rely on, and shall have no remedies in respect of, any statement, representation,
assurance or warranty (whether made innocently or negligently) that is not set out in this Agreement.

 

		(c)	Each party agrees
that it shall have no claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this
Agreement.

 

		(d)	Nothing
in this Clause shall limit or exclude any liability for fraud.

 

		27.	NO OUTSTANDING
                                         CLAIMS

 

The
Executive hereby acknowledges that he has no outstanding claims of any kind against the Company or any Group Company (other than
in respect of remuneration and expenses due to the date of this Agreement but not yet paid).

 

		28.	SEVERANCE

 

If
any provision of this Agreement is or becomes illegal, invalid or unenforceable in any jurisdiction, that shall not affect:

 

		(a)	the legality,
validity or enforceability in that jurisdiction of any other provisions of this Agreement; or

 

		(b)	the legality,
validity or enforceability in any other jurisdiction of that or any other provision of this Agreement.

 

		29.	NOTICE

 

		29.1	Notices
                                         and deemed receipt

 

Any
notice hereunder shall be given by either party to the other either personally to the Executive or the Company Secretary (as appropriate)
or sent in the case of the Company, to its registered office for the time being and, in the case of the Executive, to his address
last known to the Company. Any such notice shall be in writing and shall be given by letter delivered by hand or sent by first
class prepaid recorded delivery or registered post or by facsimile transmission. Any such notice shall be deemed to have been received:

 

		(a)	if delivered
personally, at the time of delivery;

 

		(b)	in the case of
pre-paid recorded delivery or registered post, 48 hours from the date of posting;

 

		(c)	in the case of
registered airmail, five days from the date of posting; and

 

		(d)	in the case of
fax or email, at the time of transmission;

 

    	 	26	 

     

    

 

provided
that if deemed receipt occurs before 9am on a business day the notice shall be deemed to have been received at 9am on that day
and if deemed receipt occurs after 5pm on a business day, or on a day which is not a business day, the notice shall be deemed to
have been received at 9am on the next business day. For the purpose of this Clause, “business day” means any day which
is not a Saturday, a Sunday or a public holiday in the place at or to which the notice is left or sent.

 

		29.2	Electronic
                                         service

 

For
the avoidance of doubt, notice given under this Agreement shall be validly served if sent by email.

 

		30.	GOVERNING LAW AND JURISDICTION

 

		30.1	Governing
                                         law

 

This
Agreement is governed by and to be construed in accordance with English law.

 

		30.2	Jurisdiction

 

Each
party hereby submits to the exclusive jurisdiction of the English courts as regards any claim, dispute or matter arising out of
or in connection with this Agreement and its implementation and effect.

    	 	27	 

     

    

 

IN WITNESS
of which this Agreement has been executed and delivered as a deed on the first date written above.

 

	EXECUTED as a Deed	/s/ Matthew
    Marc Homme	 
	by Camfaud Concrete Pumps Limited 	Director	 
	acting
    by Matthew Marc Homme	 	 
	 	 	 
	Witness’s	 	 
	 	 	 
	Signature:	/s/
    Andria Varnavides	 
	 	 	 
	Full Name:	Andria Varnavides	 
	 	 	 
	Address:	99 Bishopsgate	 
	 	London EC2M 3XF	 
	 	 	 
	EXECUTED as a Deed 	 	 
	by David Faud	/s/ DA Faud	 
	in the presence of:	 	 
	 	 	 
	Witness’s	 	 
	 	 	 
	Signature:	/s/
    Cynthia IP	 
	 	 	 
	Full Name:	Cynthia IP	 
	 	 	 
	Address:	Latham & Watkins (London) LLP	 
	 	99 Bishopsgate	 
	 	London 	 
	 	EC2M 3XF	 

 

David
Faud – Service Agreement – Execution Version

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