Document:

Joint Development and Exclusive Supply Agreement

 Exhibit 10.37 
 JOINT DEVELOPMENT AND EXCLUSIVE SUPPLY AGREEMENT 
 BETWEEN

 MEASUREMENT SPECIALTIES, INC. 
 AND 
 TEXAS INSTRUMENTS INCORPORATED 
 Parties and Effective Date 
 This agreement,
between Texas Instruments Incorporated, Automotive Sensors & Controls, of Attleboro MA (TI) and Measurement Specialties, Inc. of Fairfield NJ (MSI) shall have an effective date of 01 July 98. 
 Background 
 MSI is engaged in the design,
development, engineering, and manufacture of microfused strain gage sensor elements and completed pressure sensors used in the commercial and industrial markets. 
 TI is engaged in the design, development, engineering and manufacture of pressure sensors using solid state technology and processes for the automotive, commercial and industrial markets. 
 Purpose 
 TI and MSI desire to establish a
cooperative relationship to design and develop the next generation pressure sensors for high volume automotive applications, with the first focus being on the emerging small form factor brake pressure transducer (BPT) market. The commercial
relationship at the outset will be one of joint development, but it is expected to evolve to a larger more complementary strategic alliance as the efforts provide a return on investment and as each party becomes more familiar with the competencies
of the other. 
 Scope of Project 
 This Agreement shall be performed in phases. Projects include the creation of pre-prototype, prototype and production Products incorporating piezoresistive transducers glass bonded to metal diaphragms (“Subassemblies”).

 TI will provide developmental funding and other appropriate resources to MSI in support of the BPT project, with progress payments being made
at agreed upon milestones. Under such an arrangement TI will have the exclusive right to use this technology on all automotive (passenger, light truck and sport utility vehicles) brake and transmission applications, with the potential to extend this
exclusivity to other automotive market segments as the business potential is better understood. Notwithstanding the above, should TI and MSI not have developed an active transmission program by December 31,1999 or should TI become inactive in
its efforts to develop transmission programs for a period of more than twelve (12) months, MSI shall have the right to reassess TI’s exclusivity for the transmission market subject to good faith discussions with TI which will take into
account market conditions for the product. 
  

 August 20, 1998 
 -1- 

 MSI will remain open to granting exclusivity to TI in other automotive market segments during the term of
this agreement to the extent possible, subject to MSI’s obligations with other customers with which work was begun prior to exclusivity between TI and MSI. TI shall have the right of first refusal to obtain exclusivity in the diesel common
rail, and direct gasoline injection automotive market segments. TI will have 30 days to negotiate this right after being informed by MSI of its intention to grant such exclusivity (the parties agree that such negotiations shall take into account
prior and projected funding by TI). TI may negotiate for exclusivity in other automotive segments as the opportunity arises. MSI will consider TI as a preferred party and will work with TI preferentially whenever possible as new market opportunities
arise. 
 Exclusivity will be based on TI continuing to remain committed to the program, providing an agreed upon level of NRE and purchasing
product as described in Attachment A. 
 NRE will be disbursed in progress payments when to-be-determined mutually agreed upon milestones are
achieved. In the event TI does not deliver NRE funding it can lose its exclusive status, but it will retain access to MSI Subassemblies at a to be agreed upon pricing. 
 In the event TI does not deliver the product purchases, at its option it can make payments as mutually agreed upon to offset the shortfall to maintain its exclusive status. 
 MSI will develop and fulfill a resource staffing plan commensurate with TI funding commitments and the required developmental efforts to be accomplished,
and it is expected MSI will continue to make appropriate staffing decisions as TI/market success increases. MSI agrees to provide periodic updates regarding resource staffing plans and allocations. 
 MSI will support development of these sensors and will set up to manufacture Subassemblies in support of TI forecasted volumes and at quality levels
suitable for automotive sensors. It is anticipated that MSI will supply a gaged and pretested sensor Subassembly with an option for statistical compensation. 
 The team’s goal is to develop Subassemblies (strain gages bonded to the metal front end) which meets TI’s $1.25 target price in calendar year 2001 volumes of 1 M units. It is understood that
this price will be downward trending over time. In the event it becomes evident that the target price will not be met, NRE funding can be suspended at TI’s sole discretion, and the parties agree to mutually re-evaluate the price target and
negotiate a continued relationship. TI also reserves the right, in the event the target price, quality or performance is not met, to terminate the agreement with no requirements for compensation to MSI except for the royalty payment hereinafter
described in this Agreement. 
 Each party will contribute its expertise (TI in analog circuitry, channel to market, application expertise, high
volume manufacturing, automotive product development, etc, and MSI in strain gage sensing know-how, and strain gage bonding, etc,) to the effort. 
  

 August 20, 1998 
 -2- 

 With the expectation that MSI’s development effort results in a Subassembly which will meet or beat the
above target price, meet or exceed the performance requirements in TI specification EX3584-25 as finally agreed upon and customer mandated specifications (nominally, the +/- 2.3% accuracy) or any ensuing changes in these specifications to which both
parties have agreed, and demonstrate suitable process capability, then TI agrees during the term of this agreement, or in any event not later than July 1, 2008, to source all (subject to the next paragraph) of its Subassembly requirements from
MSI for piezoresistive transducers glass bonded to metal diaphragms. 
 Should customer requirements dictate North American or European
manufacture of some Subassemblies, TI may manufacture a maximum of twenty percent (20%) of its Subassemblies provided that it pays quarterly to MSI a royalty of the lower of nine cents ($0.09) or seven percent (7%) of the Net Sales Price
of the lowest Subassembly price per Subassembly charged to TI by MSI in the quarter. In the event twenty percent (20%) is insufficient to support customers requirements, MSI agrees to renegotiate this share to allow TI to meet its
customers’ needs. In the event of an interruption of supply due to political reasons or acts of God or MSI’s inability to supply Subassemblies, TI may manufacture up to one hundred percent (100%) of its Subassemblies during the period
of interruption provided it pays the royalty. 
 Notwithstanding anything to the contrary above, if the contract should terminate for any
reason, if applicable, a royalty of the lower of nine cents ($0.09) per Subassembly or seven percent (7%) of the Net Sales Price attributable to the Subassemblies will be paid by TI to MSI for a period of seven years from the effective date of
this agreement. 
 Forecasted volumes, based on present day knowledge, of brake and transmission pressure transducers covered by this agreement
for the initial years of the agreement are projected in Attachment B. 
 TI remains open to the idea of MSI, or a joint TI/MSI effort, providing
some percentage of the finished product (i.e., “Sensor”) requirements to the automotive marketplace from China at a to be determined time. Notwithstanding the above, MSI agrees during the term of this Agreement in which there is an
exclusivity arrangement between the two Parties not to make and/or sell any air conditioning pressure sensing products for automotive applications. 
 Product Development Framework, Milestones 
 The phases of the project will follow TI’s New Product Development process,
with the schedule as follows: 
  

			
	 Phase
	  	Calendar Year
	 Development
	  	1998
	 Pilot
	  	1999
	 Pre-Launch
	  	1999
	 Production
	  	2000

  

 August 20, 1998 
 -3- 

 Patents and Inventions 
 All inventions, copyrightable material, or proprietary information made or developed solely by employees of one of the parties in performance under this Agreement shall be the sole property of the party
and that party shall retain the rights to file applications for and obtain patents and copyrights thereon. 
 All jointly developed technology
shall be jointly owned by TI and MSI. In this event the parties shall jointly agree which party shall have the responsibility for preparing and filing any patent applications(s) on the invention in the US and foreign countries, and the parties agree
that each will bear one-half of the actual out-of-pocket expenses associated with obtaining and maintaining such patents. 
 TI and MSI will
retain rights to intellectual properties held by the respective party prior to the date of this agreement. 
 Independent Development 

 Nothing in this agreement shall prevent either party from continuing its independent development of its own technologies, including technology
that is subject of this agreement. 
 Confidential Information 
 Confidential Information Agreement of February 3, 1998 (attached hereto as Attachment C) is incorporated herein except the term of such agreement is extended, if required, to include the term of this
Agreement. 
 Indemnification 
 MSI agrees to provide TI with patent indemnity protection with regard to MSI supplied Subassemblies to be delivered pursuant to this agreement. 
 Termination 
 This Agreement shall have an initial term until July 1, 2008, unless
terminated as otherwise provided herein. Thereafter, the term of this Agreement shall run on a year-to-year basis unless either Party notifies the other in writing at least three (3) months prior to termination or its intention to terminate the
Agreement. 
  

 August 20, 1998 
 -4- 

 Either party shall have the right to terminate this Agreement forthwith by written notice if the other
party: 
  

	 	a.	files a petition in any bankruptcy, insolvency or similar proceeding seeking relief from creditors under any federal or state bankruptcy law or if such a petition is
filed against such other party; or 

  

	 	b.	fails to comply with any material obligation to be performed by such other party under this Agreement and subsequently fails to cure such non-compliance within sixty
(60) days after receipt of notice of such non-compliance. 

 Upon the termination of this Agreement for any reason
whatsoever, all rights of the parties under, or in any manner to any extent attributable to, this agreement shall cease and terminate unless otherwise set forth in this agreement. In no event or circumstance shall either party be liable to the other
for any loss or damage of any kind or character whatsoever on account, or by reason of, or which is attributable in any manner or to any extent to, the termination of this Agreement, but each party shall remain liable to the other for the payment of
any indebtedness then owing and for all damages, losses, costs and expenses suffered or incurred by either party as a result of the other party’s breach of any of its duties or obligations under this agreement. 
 Delegation and Assignment 
 Neither party
shall delegate any of its duties under this agreement nor assign any of its rights hereunder without the prior written approval of the other party except where the delegation/assignment occurs within the scope of a corporate reorganization or the
sale of any significant portion of the business activity of the delegating/assigning party of which this Agreement is a part. 
 Notices 

 Any notice required to be sent pursuant to this Agreement shall be deemed to have been given when delivered by certified mail, postage
prepaid, and addressed to the parties as follows: 
  

							
	If to:	 	 Measurement Specialties, Inc.
 80 Little Falls Rd.
 Fairfield, NJ 07004
 Attention: Chief Executive Officer
	  	 Copy to:
	  	  
  
  
 Attention: John Arnold, Esq.

	 	  	  
				
	If to:	 	 Texas Instruments Incorporated
 34 Forest Street, MS 23-01
 Attleboro, MA 02703
 Attention: Michael L. Downey
	  	Copy to:	  	 Texas Instruments Incorporated
 34 Forest Street, MS 20-21
 Attleboro, MA 02703
 Attention: M&C Legal Counsel

	 	  	  

  

 August 20, 1998 
 -5- 

 Governing Law and Arbitration 
 The parties will attempt to settle any claim or controversy arising out of this Agreement through consultation and negotiation in good faith and a spirit of mutual cooperation for a period of three
(3) months. If those attempts fail, then the dispute will be mediated by a mutually-acceptable mediator to be chosen by the parties within forty-five (45) days after written notice by either to the other demanding mediation. No party may
reasonably withhold consent to the selection of a mediator and the disputing parties will share the costs of the mediation equally. By mutual agreement, however, the parties may postpone mediation and engage in traditional litigation. 
 Unless otherwise agreed upon and as set forth above in this Agreement, any disputes relating to this Agreement, its breach or alleged breach, termination or
validity shall be governed by the laws of the Commonwealth of Massachusetts, except for its choice of law rules. 
 Modifications

 This Agreement shall not be changed or modified in any manner except by a written document signed by all parties. No oral agreement,
course of performance or other means other than a written document signed by all parties expressly providing for such waiver shall be deemed to waive the term of this section. 
 Miscellaneous Provisions 
 Neither Party shall, except as required by law, disclose the
terms of this Agreement without the prior consent of the other Party. 
 This Agreement shall be in English and may be signed in two or more
identical counterparts, either of which shall constitute the fully signed Agreement. 
 This Agreement, along with the Attachments hereto or
referred to thereof, is the entire Agreement between the Parties with respect to the subject matter hereof and supersedes all prior Agreements, understandings or representations between the Parties with respect to the subject matter hereof except
for any confidentiality or non-disclosure agreement. No alterations, modifications, interpretation or amendment of this Agreement shall be binding on the Parties unless in writing, designated as an amendment hereto and signed by each of the Parties.

 Neither Party in connection with the performance of this Agreement shall either directly or indirectly make, give or promise any payment or
other thing of value to any person for any purpose, or commit any other act which is unlawful under the laws of the United States, and, to the extent not inconsistent with the laws of the United States, the laws of any other applicable Jurisdiction.

 Neither Party is liable, either wholly or in part, for nonperformance or a delay in performance due to force majuere or contingencies or
causes beyond the reasonable control of either Party, including but not limited to, strikes, shortage of labor, fuel, raw material or machinery or technical or yield failure where either Party has exercised ordinary care in the prevention thereof.

  

 August 20, 1998 
 -6- 

 Neither Party shall be responsible to the other Party, in contract, tort or otherwise, for any special,
incidental or consequential damages whether or not caused by such Party’s negligence. 
 IN WITNESS WHEREOF, both Parties have caused this
Agreement to be duly executed effective as of the first date stated above. 
  

									
	 TEXAS INSTRUMENTS INCORPORATED
 MATERIALS AND CONTROLS
	 		 	MEASUREMENT SPECIALTIES, INC.
					
	By:	 	 /s/ Thomas K. Rowland
	 		 	By:	 	 /s/ Joseph R. Mallon, Jr.

	Name:	 	Thomas K. Rowland	 		 	Name:	 	Joseph R. Mallon, Jr.
	Title:	 	 Automotive Sensors & Controls
 North American Manager
	 		 	Title:	 	CEO
	Date:	 	8/20/98	 		 	Date:	 	8/20/98

  

 August 20, 1998 
 -7- 

 Attachment A - Minimum NRE and Product Purchases 
  

							
	 Calendar Year
	  	NRE Funding*	  	Product Purchase**
	 1998
	  	$	200,000	  		
	 1999
	  	$	250,000	  		
	 2000
	  	$	300,000	  		
	 2001
	  			  	$	1,000,000
	 2002
	  			  	$	2,000,000
	 2003
	  			  	$	3,000,000

 Then growth of 20% per year for three years, thereafter growth of 10% per year. 

 

	*	payable in progress payments upon to be determined milestones 

	**	includes amortized value of capital investments and purchase of samples 

  

 August 20, 1998 
 -8- 

 Attachment B - Anticipated Subassembly Volumes 
  

										
	 Volumes
	  	2000	  	2002	  	2004
	 Total Projected Global BPT Market, ku
	  	 	4800	  	 	9000	  	 	11700
	 Expected TI BPT volumes, ku
	  	 	100	  	 	2200	  	 	4500
	 Total Projected Global CVT Market, ku
	  	 	0	  	 	1000	  	 	5000
	 Expected TI CVT volumes, ku
	  	 	0	  	 	500	  	 	2500
	 Total Expected TI Volume
	  	 	100	  	 	2700	  	 	7,000
	 Subassembly Price Example
	  	$	1.25	  	$	1.10	  	$	1.00
	 Total Automotive Revenue
	  	$	0.1 M	  	$	2.9 M	  	$	7.0 M

  

 August 20, 1998 
 -9- 

 MEMORANDUM 
 May 10, 2002 
  

					
	 FORWARD TO:
	  	 Mike Cavanaugh
 Gary Snyder

 Steve Major
 Martha
Sullivan
	  	 MS: 23-04
 MS: 12-32

MS: 23-01
 MS: 23-01

			
	 FROM:
	  	Steve Reynolds	  	MS: 20-21
			
	 SUBJECT:
	  	AMENDMENT TO 1998 JOINT DEVELOPMENT AGREEMENT	  	 MEASUREMENT SPECIALTIES, INC.
 80 Little Falls Road
 Fairfield, NJ 07004

 The attached Amendment to the 1998 Joint Development between TI and MSI is written to memorialize the
current status of the relationship and modify appropriate terms. 
 If you approve, please sign below and forward for the additional approvals
and signatures. 
  

					
			
	/s/ Steve Reynolds	 		 	Date: 5-15-02
	Steve Reynolds	 		 	
			
	  	 		 	Date:                     
	Mike Cavanaugh	 		 	

					
			
	/s/ Gary Snyder	 		 	Date: 5-15-02
	Gary Snyder	 		 	
			
	/s/ Steve Major	 		 	Date: 5-16-02 
	Steve Major	 		 	
			
	/s/ Martha Sullivan	 		 	Date: 5-16-02 
	Martha Sullivan	 		 	

 1q02.55 

 AMENDMENT AND RESTATEMENT OF THE 1998 JOINT DEVELOPMENT AND 
 EXCLUSIVE SUPPLY AGREEMENT 
 BETWEEN 
 MEASUREMENT SPECIALTIES, INC. 
 AND 
 TEXAS INSTRUMENTS INCORPORATED 
 This Agreement between Texas Instruments Incorporated, Sensors and Controls business, having a place of business in Attleboro, MA (“TI”) and
Measurement Specialties, Inc. of Fairfield, NJ (“MSI”) has an effective date of May 10, 2002. 
 Purpose

 It is intended by the parties that they herein clarify certain items from their Joint Development and Exclusive Supply Agreement,
effective 1 July 1998, (“the 98 Agreement”) and provide amendments reflecting agreements and practices since 1 July 1998. 
 Scope of Project 
 This Section is expanded to include the following new paragraphs: 
 License Grant – MSI has granted to TI exclusive licenses to the following automotive (passenger, light truck and sport utility
vehicles) application markets: braking, transmission, common rail diesel and gasoline direct injection. These licenses are irrevocable, during the term of the agreement, except in the event of an uncured material breach by TI, and terminate upon
termination of the 98 Agreement and this Amendment, but may be subject to royalty payments as described in the 98 Agreement. TI will, per the terms of the 98 Agreement, purchase its SEA requirements for sensors sold in the licensed fields above from
MSI (except for those volumes internally produced per the provision found in Second Source below) for piezoresistive transducers glass bonded to metal diaphragms during the term of this term of the 98 Agreement. MSI agrees to supply SEAs to TI to
meet TI’s requirements during the term of the 98 Agreement and to sell SEAs exclusively to TI within the above licensed fields. TI will incorporate those SEAs into its sensor products and sell these products in all the above licensed fields. TI
will only use the licenses to make the SEAs in the event of an uncured material breach of MSI, MSI’s termination of the 98 Agreement for a reason other then an uncured material breach by TI, or pursuant to the Second Source as described below.
MSI confirms that TI has, to date, met the conditions called for in the 98 Agreement to maintain the exclusive status of the grants listed above. 

 MSI will sell SEA’s to TI nonexclusively for any market application. The pricing is
based on the cost variables of aggregate annual volume and port geometry for each SEA and then applying a not-to-exceed gross margin percentage as follows: 
  

				
	 Annual Volume
	  	Gross Margin*	 
	 <1KU
	  	60	% 
	 1KU to 10KU
	  	50	% 
	 10KU to 100KU
	  	45	% 
	 100KU to 500KU
	  	40	% 
	 >500KU
	  	35	% 

  

	*	Gross margin is defined as MSI standard cost (material, dir labor, labor OH, yield, QA) which does not include engineering, SG&A, and R&D.

 Excluded from the price table above are; 1) Domestic applications in stationary and transport refrigeration, the
gross margin is not-to-exceed 70% and 2) Domestic applications in paint sprayers, the gross margin is not-to-exceed 90%. 
 MSI
and TI agree to have discussions in the future regarding a potential joint venture for industrial applications, regarding MSI private labeling TI MSG product for low volume/nonstrategic applications to TI, and regarding TI potential interest in
converting a nonexclusive market segment into an exclusive segment. TI’s current intent is to use MSI SEA’s with our automotive ASIC’s for the next couple years but does reserve the right to use other signal conditioning as needed.

 Second Source – Although TI has no immediate intention to second source and expects to buy all of its requires for
SEA’s from MSI indefinitely, MSI recognizes that TI may require a second source of production to satisfy its customers. Accordingly, MSI grants to TI an “Option”; granting TI a license to produce internally (“Second Sourced
Production”) SEAs. TI agrees to purchase SEAs from MSI at volumes in support of an MSI automotive business share of not less than 60% annually or 7M units (i.e. whichever is greater). By this agreement TI purchases an “Option” which
grants TI the right to produce second sourced SEAs to cover all or a portion of volumes above this 60% minimum share level annually or 7M units (i.e. whichever is greater). TI shall be required to pay for exclusivity the higher of $.05 or
5% per SEA to MSI for such Second Sourced Production. Unless unusual circumstances make it commercially unreasonable, TI will provide MSI with notice eighteen (18) months in advance or as soon as the decision has been made, whichever is
greater, prior to commencing Second Sourced Production. 
 In the event that MSI “Like” SEA’s surface
competitively in the exclusive markets we serve, the above exclusivity payments would be subject to re-evaluation. 
 Option
Price: 
  

	 	1)	Purchase of the Second Source Option   $25,000 ** 

  

	 	2)	Exercise of the Second Source Option   $250,000.** ($250,000.00 to be paid $100,000.00 at time of Exercise and then in increments of $50,000.00 for each
1 million SEA’s of TI manufacture until total of $250,000.00 is achieved) 

  
  

	**	Payment terms for Option above, 

 Purchase of Option: payable upon signing of this agreement, 
  

 - 2 - 

 Exercising of Option: payable 30 days after exercise 
 Pricing – The parties acknowledge that product pricing remains critical to marketplace success. Sense Element Assembly
(“SEA”) (formerly referred to as “Subassemblies” in the 98 Agreement) design and volume projections must remain the drivers to future pricing with continuous improvement strategies in place. Attachment “A” to this
amendment contains the agreed to pricing for calendar years 2003 and 2004. Pricing for 2005 and beyond will decline with increasing annual production and expected efficient asset/capacity utilization, annually (each year lower then the year before)
from the agreed levels for 2004. Declining SEA Pricing for 2005 and beyond would be required to target expected TI end Market/Customer Driven Product cost reductions (i.e. estimated as between 2 to 8% annually) as the minimum objective. 

It is understood that the port pricing has to date achieved substantial reduction, and that both parties will need to work together to
further develop cost reduction potential and consequently the pricing target may need to be separated between the port content and non-port content of the total price. 
 Status of the Joint Development Project 
  

	 	•	 	 Product purchases outlined in 98 Agreement have been exceeded. The parties acknowledge that process and quality development are proceeding at
acceptable levels and continue to improve. Teamwork and trust have been excellent. 

  

	 	•	 	 Notwithstanding that the original $1.25 price target for the “BPT” sensor for the first one (1) million units has not been met, and
acknowledging that the changes in the port configuration and material cost were significant factors in not meeting the original price target, all terms of the 98 Agreement remain in full force, except as modified herein, and TI agrees not to
terminate the 98 Agreement on this basis. 

  

	 	•	 	 Based on progress to date, it is agreed that the parties will convene by July 1st annually to decide on extending the agreement by an additional 1 year. The first such meeting will take place before
July 1, 2003. 

 Other 
 The other provisions of the 98 Agreement remain in effect.  
 Supply Agreement

 The parties intend to negotiate a Supply Agreement for SEAs to replace and expand upon the supply terms provided for in the 98
Agreement and this amendment, but in a manner not inconsistent with the intent of the 98 Agreement and subsequent course of conduct between the parties. 
  

 - 3 - 

									
	 TEXAS INSTRUMENTS INCORPORATED
 Sensors & Controls
	 		 	MEASUREMENT SPECIALTIES, INC.
					
	By:	 	/s/ Martha Sullivan	 		 	By:	 	/s/ Joseph R. Mallon, Jr.
	Name:	 	Martha Sullivan	 		 	Name:	 	Joseph R. Mallon, Jr.
	Title:	 	Vice President & Global	 		 	Title:	 	Chief Executive Officer
		 	Business Manager	 		 		 	
		 	Sensor Products	 		 		 	
	Date:	 	5/16/02	 		 	Date:	 	5/10/02

  

 - 4 - 

 EXCLUSIVE SUPPLY AGREEMENT 
 BETWEEN 
 MEASUREMENT SPECIALTIES, INC. 
 AND 
 TEXAS
INSTRUMENTS INCORPORATED 
 ATTACHMENT A 
 TABLE OF CONTENTS 
 Attachment A - 100% Forecast 
 Attachment A - 115% Forecast 
 Attachment A - 85%
Forecast 
  

 - 5 - 

			
	MSI/TI Pricing Agreement 2003-2004	  	ATTACHMENT A -100% forecast

  

																																					
	Last Update:     May 9, 2002	 	 	 	M. Cavanaugh	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Volumes	 	SEA Pricing	 	PORT Pricing Matrix
	 	 	 	 	SEA #	 	Port #	 	User #1	 	2001	 	2002	 	2003	 	2004	 	2003	 	2004	 	2003	 	2004
	 	 	

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Spindex	 	JL
elimination
of heat
treatment	 	Spindex	 	JL
elimination
of heat
treatment	 	Spindex
Port Price	 	JL Port
Price Assumption	 	Spindex
Port Price	 	JL Port
Price
Assumption
	 Current
	 	 	37735	 	37736	 	CT PS60	 	1230	 	2122	 	2745	 	2830	 	$	1.32	 	$	1.24	 	$	1.18	 	$	1.10	 	0.631	 	0.581	 	0.618	 	0.568
	 Production
	 	 	37766	 	37729	 	TRW430 (SFF)	 	54	 	300	 	622	 	724	 	$	1.27	 	$	1.19	 	$	1.14	 	$	1.06	 	0.572	 	0.522	 	0.561	 	0.511
	 Program
	 	 	37844	 	37842	 	Honda (SFF)	 	10	 	302	 	411	 	587	 	$	1.43	 	$	1.35	 	$	1.31	 	$	1.23	 	0.689	 	0.639	 	0.675	 	0.625
		 	 	37860	 	37859	 	Sumitomo (SFF)	 	5	 	49	 	67	 	130	 	$	1.44	 	$	1.36	 	$	1.33	 	$	1.25	 	0.699	 	0.649	 	0.685	 	0.635
		 		 		 		 		 	 	 	 	 	 	 	 	 			 			 			 			 		 		 		 	
	 Subtotal
	 		 		 		 		 	1299	 	2773	 	3845	 	4271	 			 			 			 			 		 		 		 	
	 PS60SI
	 	

	 	37876	 	37875	 	PS60si 190 bar	 	10	 	19	 	700	 	2000	 	$	1.44	 	$	1.36	 	$	1.31	 	$	1.23	 	0.706	 	0.656	 	0.691	 	0.641
	 (SFF)
	 	 		 		 		 		 		 		 		 			 			 			 			 		 		 		 	
		 	 	37876	 	37875	 	PS60si 70 bar	 	2	 	0	 	15	 	350	 	$	1.44	 	$	1.36	 	$	1.31	 	$	1.23	 	0.706	 	0.656	 	0.691	 	0.641
		 		 		 		 		 	 	 	 	 	 	 	 	 			 			 			 			 		 		 		 	
	 Subtotal
	 		 		 		 		 	12	 	19	 	715	 	2350	 			 			 			 			 		 		 		 	
	 Common
	 	

	 	T-604956-01	 	T-604965-01	 	LFF2 Common R.	 	10	 	125	 	1439	 	2683	 	$	1.55	 	$	1.47	 	$	1.32	 	$	1.24	 	0.706	 	0.656	 	0.691	 	0.641
	 Rail
	 	 	T-604956-01	 	T-604965-01	 	LFF2 Common R.	 	0	 	0	 	300	 	900	 	$	1.55	 	$	1.47	 	$	1.32	 	$	1.24	 	0.706	 	0.656	 	0.691	 	0.641
		 		 		 		 		 	 	 	 	 	 	 	 	 			 			 			 			 		 		 		 	
	 Subtotal
	 		 		 		 		 	10	 	125	 	1739	 	3583	 			 			 			 			 		 		 		 	
		 	

	 		 		 		 		 		 		 		 	 	All to be quted	 	 	All to be quted	 		 		 		 	
	 Misc.
	 	 		 	37885	 	Cat Rail (LFF1)	 	5	 	10	 	75	 	80	 	 	TBD	 			 	 	TBD	 			 		 		 		 	
		 	 	37927	 	37928	 	Delphi Bk.(LFF1)	 	0	 	0	 	1	 	105	 	 	"	 			 	 	"	 			 	0.853	 		 	0.836	 	
		 	 	37788	 	37787	 	Siem CVT	 	12	 	1	 	5	 	180	 	 	"	 			 	 	"	 			 	0.882	 		 	0.864	 	
		 	 		 		 	Siem GDI	 	5	 	0	 	20	 	431	 	 	"	 			 	 	"	 			 		 		 		 	
		 		 		 		 		 	 	 	 	 	 	 	 	 			 			 			 			 		 		 		 	
	 Subtotal
	 		 		 		 		 	22	 	11	 	101	 	796	 			 			 			 			 		 		 		 	
		 		 		 		 		 	 	 	 	 	 	 	 	 			 			 			 			 		 		 		 	
	 Total
	 		 		 		 		 	1343	 	2928	 	6400	 	11000	 			 			 			 			 		 		 		 	
		 		 		 		 		 	 	 	 	 	 	 	 	 			 			 			 			 		 		 		 	
	 Development Agreement Expected Volume
	 		 		 		 		 	n/a	 	2700	 	n/a	 	7000	 			 			 			 			 		 		 		 	

  

	1.	Open Items to be negotiated and mutually agreed upon: 

 Port Cost Reductions Sharing on improvements beyond above Port Matrix (CR can be H.T. elim.; Raw Mat’l; Productivity, Bippus, etc.) 
 Payment timing and trigger levels to be agreed upon should volumes reach either 85% or 115% levels 

	2.	Per Glen MacGibbon 3/27/02 - Annual Volume; As you can see our price is dependant upon volume, and we have provided prices based upon; 100%, 115%, and 85% respectively
of the TI forecast as we agreed during our meeting on March 14, 2002. 

	3.	Per Glen MacGibbon 3/27/02 - Heat Treatment: by eliminating the heat treatment process, the price will be reduced by $0.03 per unit. This reduction is already assumed
in the price column for “JL elimination of heat treatment” machined ports 

	4.	Per Glen MacGibbon 3/27/02 - JL Machining Ports: For every port JL machines, it is estimated that TI would save on average of $0.05 per port. This is our best estimate
based upon machine times quoted from the machine tool supplier. As soon as the machine is up and running in JL, we will immediately confirm the price savings. This option will be capacity limited based upon the total amount of machines to be located
at JL. 

  

 Page 1 

 ATTACHMENT A -115% forecast 
  

																																			
	Last Update:     March 1, 2002	 	 	 	 	 	Volumes	 	Port Suppliers	 	 	 	 	 	 	 	 
	 	 	 	 	SEA #	 	Port #	 	User #1	 	Additional Users	 	2001	 	2002	 	2003	 	2004	 	2003	 	 	 	2004	 	2005
	 	 	

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Spindex	 	JL
elimination of
heat
treatment	 	Spindex	 	JL
elimination
of heat
treatment	 	Spindex	 	JL/
Seamax
	 Current
	 	 	37735	 	37736	 	CT PS60	 	PS60RD, Tokico	 	1230	 	2122	 	3156.8	 	3254.5	 	$	1.29	 	$	1.21	 	$	1.165	 	$	1.09	 		 	
	 Production
	 	 	37766	 	37729	 	TRW430 (SFF)	 		 	54	 	300	 	715.3	 	832.6	 	$	1.24	 	$	1.16	 	$	1.12	 	$	1.04	 		 	
	 Program
	 	 	37844	 	37842	 	Honda (SFF)	 		 	10	 	302	 	472.65	 	675.05	 	$	1.40	 	$	1.32	 	$	1.28	 	$	1.20	 		 	
		 	 	37860	 	37859	 	Sumitomo (SFF)	 		 	5	 	49	 	77.05	 	149.5	 	$	1.41	 	$	1.33	 	$	1.29	 	$	1.21	 		 	
	 Subtotal
	 		 		 		 		 		 	1299	 	2773	 	4421.8	 	4911.7	 			 			 			 			 		 	
	 PS60SI
	 	

	 	37876	 	37875	 	PS60si 190 bar (SFF)	 	220 Bar, 170 Bar	 	10	 	19	 	805	 	2300	 	$	1.41	 	$	1.33	 	$	1.29	 	$	1.21	 		 	
	 (SFF)
	 	 		 		 		 		 		 		 	0	 	0	 			 			 			 			 		 	
		 	 	37876	 	37875	 	PS60si 70 bar (SFF)	 		 	2	 	0	 	17.25	 	402.5	 	$	1.41	 	$	1.33	 	$	1.29	 	$	1.21	 		 	
	 Subtotal
	 		 		 		 		 		 	12	 	19	 	822.25	 	2702.5	 			 			 			 			 		 	
	 Common
	 	

	 	T-604956-01	 	T-604965-01	 	LFF2 Common Rail	 	Siemens and Delphi	 	10	 	125	 	1654.9	 	3085.5	 	$	1.51	 	$	1.43	 	$	1.37	 	$	1.29	 		 	
		 	 	 	 	 	 		 		 		 		 	0	 	0	 			 			 			 			 		 	
	 Rail
	 	 	T-604956-01	 	T-604965-01	 	LFF2 Common Rail	 	Bosch	 	0	 	0	 	345	 	1035	 	$	1.51	 	$	1.43	 	$	1.37	 	$	1.29	 		 	
	 Subtotal
	 		 		 		 		 		 	10	 	125	 	1999.9	 	4120.5	 			 			 			 			 		 	
		 	

	 		 		 		 		 		 		 		 		 	 	All to be quted	 			 	 	All to be quted	 			 		 	
	 Misc.
	 	 		 	37885	 	Cat Rail (LFF1)	 	Husco Rail, PHS LFF	 	5	 	10	 	86.25	 	92	 	 	TBD	 			 	 	TBD	 			 		 	
		 	 	37927	 	37928	 	Delphi Brake(LFF1)	 	TRW LFF	 	0	 	0	 	1.15	 	120.75	 	 	"	 			 	 	"	 			 		 	
		 	 	37788	 	37787	 	Siem CVT	 		 	12	 	1	 	5.75	 	207	 	 	"	 			 	 	"	 			 		 	
		 	 		 		 	Siem GDI	 	Nissan GDI, Hitach	 	5	 	0	 	23	 	495.65	 	 	"	 			 	 	"	 			 		 	
	 Subtotal
	 		 		 		 		 		 	22	 	11	 	116.15	 	915.4	 			 			 			 			 		 	
		 		 		 		 		 		 	 	 	 	 	 	 	 	 			 			 			 			 		 	
	 Total
	 		 		 		 		 		 	1343	 	2928	 	7360	 	12650	 			 			 			 			 		 	
		 		 		 		 		 		 	 	 	 	 	 	 	 	 			 			 			 			 		 	
	 Development Agreement Expected Volume
	 	BPT & CVT	 	n/a	 	2700	 	n/a	 	7000	 			 			 			 			 		 	

  

 Page 2 

 ATTACHMENT A -85% forecast 
  

																																			
	Last Update: March 1, 2002	 	 	 	 	 	Volumes	 	Port Suppliers	 	 	 	 	 	 	 	 
	 	 	 	 	SEA #	 	Port #	 	User #1	 	Additional Users	 	2001	 	2002	 	2003	 	2004	 	2003	 	2004	 	2005
	 	 	

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Spindex	 	JL
elimination
of heat
treatment	 	Spindex	 	JL
elimination
of heat
treatment	 	Spindex	 	JL/
Seamax
	 Current
	 	 	37735	 	37736	 	CT PS60	 	PS60RD, Tokico	 	1230	 	2122	 	2333.3	 	2405.5	 	$	1.35	 	$	1.27	 	$	1.22	 	$	1.14	 		 	
	 Production
	 	 	37766	 	37729	 	TRW430 (SFF)	 		 	54	 	300	 	528.7	 	615.4	 	$	1.30	 	$	1.22	 	$	1.17	 	$	1.09	 		 	
		 	 		 		 		 		 		 		 	0	 		 			 			 			 			 		 	
	 Program
	 	 	37844	 	37842	 	Honda (SFF)	 		 	10	 	302	 	349.35	 	498.95	 	$	1.47	 	$	1.39	 	$	1.33	 	$	1.25	 		 	
		 	 		 		 		 		 		 		 	0	 		 			 			 			 			 		 	
		 	 	37860	 	37859	 	Sumitomo (SFF)	 		 	5	 	49	 	56.95	 	110.5	 	$	1.48	 	$	1.40	 	$	1.35	 	$	1.27	 		 	
	 Subtotal
	 		 		 		 		 		 	1299	 	2773	 	3268.3	 	3630.4	 			 			 			 			 		 	
	 PS60SI
	 	

	 	37876	 	37875	 	PS60si 190 bar (SFF)	 	220 Bar, 170 Bar	 	10	 	19	 	595	 	1700	 	$	1.48	 	$	1.40	 	$	1.35	 	$	1.27	 		 	
	 (SFF)
	 	 		 		 		 		 		 		 		 		 			 			 			 			 		 	
		 	 	37876	 	37875	 	PS60si 70 bar (SFF)	 		 	2	 	0	 	12.75	 	297.5	 	$	1.48	 	$	1.40	 	$	1.35	 	$	1.27	 		 	
	 Subtotal
	 		 		 		 		 		 	12	 	19	 	607.75	 	1997.5	 			 			 			 			 		 	
	 Common
	 	

	 	T-604956-01	 	T-604965-01	 	LFF2 Common Rail	 	Siemens and Delphi	 	10	 	125	 	1223.2	 	2280.6	 	$	1.58	 	$	1.50	 	$	1.43	 	$	1.35	 		 	
		 	 	 	 	 	 		 		 		 		 		 		 			 			 			 			 		 	
	 Rail
	 	 	T-604956-01	 	T-604965-01	 	LFF2 Common Rail	 	Bosch	 	0	 	0	 	255	 	765	 	$	1.58	 	$	1.50	 	$	1.43	 	$	1.35	 		 	
	 Subtotal
	 		 		 		 		 		 	10	 	125	 	1478.2	 	3045.6	 			 			 			 			 		 	
		 	

	 		 		 		 		 		 		 		 		 	 	All to be quted	 			 	 	All to be quted	 			 		 	
	 Misc.
	 	 		 	37885	 	Cat Rail (LFF1)	 	Husco Rail, PHS LFF	 	5	 	10	 	63.75	 	68	 	 	TBD	 			 	 	TBD	 			 		 	
		 	 	37927	 	37928	 	Delphi Brake (LFF1)	 	TRW LFF	 	0	 	0	 	0.85	 	89.25	 	 	"	 			 	 	"	 			 		 	
		 	 	37788	 	37787	 	Siem CVT	 		 	12	 	1	 	4.25	 	153	 	 	"	 			 	 	"	 			 		 	
		 	 		 		 	Siem GDI	 	Nissan GDI, Hitach	 	5	 	0	 	17	 	366.35	 	 	"	 			 	 	"	 			 		 	
	 Subtotal
	 		 		 		 		 		 	22	 	11	 	85.85	 	676.6	 			 			 			 			 		 	
		 		 		 		 		 		 	 	 	 	 	 	 	 	 			 			 			 			 		 	
	 Total
	 		 		 		 		 		 	1343	 	2928	 	5440	 	9350	 			 			 			 			 		 	
		 		 		 		 		 		 	 	 	 	 	 	 	 	 			 			 			 			 		 	
	 Development Agreement Expected Volume
	 	BPT & CVT	 	n/a	 	2700	 	n/a	 	7000	 			 			 			 			 		 	

  

 Page 3Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT
AGREEMENT (the “Agreement”) is entered into as of January 25, 2010 (the “Effective Date”), by and between MASTEC, INC., a Florida corporation (the “Company”), and Ray Harris
(“Employee”). 
 Recitals 
 The Company desires to employ Employee and Employee desires to be employed by the Company on the terms and subject to the conditions set
forth in this Agreement. 
 ACCORDINGLY, in consideration of the mutual covenants and agreements set forth in this Agreement,
and for other good and valuable consideration, the receipt and adequacy of which are acknowledged, the Company and Employee agree as follows: 
 Terms 
 1. Employment. The Company employs Employee
and Employee desires to be employed by the Company on the terms and subject to the conditions set forth in this Agreement. 
 2.
Term. The term (“Term”) of Employee’s employment under this Agreement will be from the Effective Date until terminated in accordance with this Agreement. 
 3. Duties. 
 a. Position. During the Term, Employee will serve as President of the Company in accordance with the duties described herein. Subject to the direction of the Chief Executive Officer (CEO), Employee will primarily be
responsible for overseeing the Company’s business development efforts and such other tasks as may be assigned to him by the CEO or the Board of Directors of the Company (the “Board”). If requested by the Company, Employee will
serve as an officer or director of any subsidiary of the Company, without additional compensation, provided, however, that if Employee is asked to serve as a director of any subsidiary of the Company, Employee may refuse to accept, or resign from,
such appointment without causing a breach of this Agreement by Employee. If asked to serve as an officer or director of a subsidiary of the Company, Employee will be provided those officer and director indemnifications provided to other officers and
directors of the Company and any such subsidiary. 
 b. Full Time and Attention. During the Term, Employee will
devote his full business time and energies to the business and affairs of the Company and will use his best efforts, skills and abilities solely to promote the interests of the Company and to diligently and competently perform his duties, all in a
manner in compliance with all applicable laws and regulations and in accordance with applicable policies and procedures adopted or amended from time to time by the Company, including, without limitation, the 2007 Employee Handbook, a copy of
which Employee acknowledges having received. Employee agrees and acknowledges that a material part of the time devoted to his duties and position hereunder will require that Employee travel on behalf of the Company. 
  

 4. Compensation and Benefits. 
 a. Base Salary. During the Term, Employee will be paid, as compensation for services rendered pursuant to this Agreement and
Employee’s observance and performance of all of the provisions of this Agreement, the amount of Five Hundred Thousand and No/100 Dollars ($500,000.00) per annum (the “Base Salary”). The Base Salary will be payable in accordance with
the normal payroll procedures of the Company as in effect from time to time. The Board shall review the Base Salary on an annual basis for potential merit increases. 
 b. Benefits. During the Term, Employee will be entitled to participate in or benefit from, in accordance with the eligibility and other provisions thereof, such life, health, medical,
accident, dental and disability insurance and such other benefit plans as the Company may make generally available to, or have in effect for, other employees of the Company at the same general level as Employee. The Company retains the right to
terminate or amend any such plans from time to time in its sole discretion. 
 c. Bonus.
Employee shall be entitled to participate in the Company’s bonus plan for senior management (the “SMBP”), which shall entitle Employee to receive a guaranteed annual bonus in an amount equal to one-hundred percent
(100%) of Employee’s Base Salary. The Bonus payable pursuant to this Section 4(c) shall be referred to herein as the “Bonus.” The Bonus shall be paid within the first 2 1/2 months after the completion of a calendar year and Employee shall
be entitled to the Bonus for the 2010 calendar year. 
 d. Expenses. The Company will reimburse Employee,
in accordance with the Company’s expense reimbursement policies as may be established from time to time by the Company, for all reasonable travel and other expenses actually incurred or paid by him during the Term in the performance of his
services under this Agreement, upon presentation of expense statements or vouchers or such other supporting information as the Company may require. 
 e. Withholding. All payments under this Agreement will be subject to applicable taxes and required withholdings. 
 f. Automobile Allowance. During the Term of this Agreement, the Company shall provide Employee with a non-accountable
automobile allowance of Seven Hundred and Fifty Dollars ($750) per month, which shall include, without limitation, reimbursements for car payments, gasoline, oil, repairs, maintenance, insurance and other expenses incurred by Employee by reason of
the use of Employee’s automobile for Company business from time to time. 
 g. Equity. As of the Effective
Date, Employee shall receive 100,000 shares of the Company’s common stock (the “Restricted Stock”), which shall vest 100% on the third anniversary of the Effective Date (the “Vesting Date”). If Employee voluntarily
terminates this Agreement, Employee shall vest 2,778 shares for every full or partial month Employee was employed by the Company. The Restricted Stock will be subject to the terms and conditions of the Company’s incentive plans, as in effect
and as may be amended from time to time in the Company’s sole discretion. 

 5. Representations of Employee. Employee represents and warrants that he is
not, (i) a party to any enforceable employment agreement or other arrangement, whether written or oral, with any past employer, that would prevent or restrict Employee’s employment with the Company; (ii) a party to or bound by any
agreement, obligation or commitment, or subject to any restriction, including, but not limited to, confidentiality agreements, restrictive covenants or non-compete and non-solicitation covenants, except for agreements with the Company or its
affiliates; or (iii) involved with any professional endeavors which in the future may possibly adversely affect or interfere with the business of the Company, the full performance by Employee of his duties under this Agreement or the exercise
of his best efforts hereunder. 
 6. Confidentiality. 
 a. Confidential Information. Employee acknowledges that as a result of his employment with the Company, Employee will gain
knowledge of, and access to, proprietary and confidential information and trade secrets of the Company and its subsidiaries and affiliates, including, without limitation, (1) the identity of customers, suppliers, subcontractors and others with
whom they do business; (2) their marketing methods and strategies; (3) contract terms, pricing, margin, cost information and other information regarding the relationship between them and the persons and entities with which they have
contracted; (4) their services, products, software, technology, developments, improvements and methods of operation; (5) their results of operations, financial condition, projected financial performance, sales and profit performance and
financial requirements; (6) the identity of and compensation paid to their employees, including Employee; (7) their business plans, models or strategies and the information contained therein (8) their sources, leads or methods of
obtaining new business; and (9) all other confidential information of, about or concerning the business of the Company and its subsidiaries and affiliates (collectively, the “Confidential Information”). Employee acknowledges
that, prior to the disclosure of the Confidential Information to him, he did not previously have access to such Confidential Information. Employee further acknowledges that such information, even though it may be contributed, developed or acquired
by Employee, and whether or not the foregoing information is actually novel or unique or is actually known by others, constitutes a valuable asset of the Company developed at great expense which are the exclusive property of the Company or its
subsidiaries and affiliates. Accordingly, Employee will not, at any time, either during or subsequent to the Term, in any fashion, form or manner, directly or indirectly, (i) use, divulge, disclose, communicate, provide or permit access to any
person or entity, any Confidential Information of any kind, nature or description; or (ii) remove from the Company’s or its subsidiaries or affiliates’ premises any notes or records relating thereto, or copies or facsimiles thereof
(whether made by electronic, electrical, magnetic, optical, laser acoustic or other means) except in the case of both (i) and (ii), (A) as reasonably required in the performance of his services to the Company under this Agreement,
(B) to responsible officers and employees of the Company who are in a contractual or fiduciary relationship with the Company and who have a need for such information for purposes in the best interests of the Company, (C) for such
information which is or becomes generally available to the public other than as a result of an unauthorized disclosure by Employee, and (D) or as otherwise necessary to comply with the requirements of law, after providing the Company with not
less than five (5) days prior written notice of Employee’s intent to disclose. Employee acknowledges that the disclosure of this Confidential Information to Employee is good and valuable consideration sufficianent to support the
enforcement of Section 6 and 8 of this Agreement. Employee further acknowledges that the Company would not enter into this Agreement without assurance that all Confidential Information will be used for the exclusive benefit of the Company,
consistent with the terms of Section 6 and 8 of this Agreement. 
  

 b. Return of Confidential Information. Upon request by the Company, Employee
will promptly deliver to the Company all drawings, manuals, letters, notes, notebooks, reports and copies thereof, including all originals and copies contained in computer hard drives or other electronic or machine readable format, all Confidential
Information and other materials relating to the Company’s business, including, without limitation, any materials incorporating Confidential Information, which are in Employee’s possession or control. 
 7. Intellectual Property. Any and all material eligible for copyright or trademark protection and any and all ideas and
inventions (“Intellectual Property”), whether or not patentable, in any such case solely or jointly made, developed, conceived or reduced to practice by Employee (whether at the request or suggestion of any officer or employee of
the Company or otherwise, whether alone or in conjunction with others, and whether during regular hours of work or otherwise) during the Term which arise from the fulfillment of Employee’s duties hereunder and which may be directly or
indirectly useful in the business of the Company will be promptly and fully disclosed in writing to the Company. The Company will have the entire right, title and interest (both domestic and foreign) in and such Intellectual Property, which is the
sole property of the Company. All papers, drawings, models, data and other materials relating to any such idea, material or invention will be included in the definition of Confidential Information, will remain the sole property of the Company, and
Employee will return to the Company all such papers, and all copies thereof, including all originals and copies contained in computer hard drives or other electronic or machine readable format, upon the earlier of the Company’s request thereof,
or the expiration or termination of Employee’ employment hereunder. Employee will execute, acknowledge and deliver to the Company any and all further assignments, contracts or other instruments the Company deems necessary or expedient, without
further compensation, to carry out and effectuate the intents and purposes of the Agreement and to vest in the Company each and all of the rights of the Company in the Intellectual Property. 
 8. Covenants 
 a. Non-Competition and Non-Solicitation. Employee acknowledges and agrees that Company’s and its subsidiary and affiliated companies (collectively, the “Companies”) existing or contemplated businesses
(collectively, the “Business”) are conducted throughout the United States of America. Until one (1) year following the date of the termination of Employee’s employment with the Company for whatever reason (the
“Period of Non-competition” and within the United States of America and the Commonwealth of Canada (including their possessions, protectorate and territories, the “Territory”), Employee will not (whether or not then
employed by the Company for any reason), directly or indirectly, without the Company’s prior written consent: 
 (i) own,
manage, operate, control, be employed by, act as agent, consultant or advisor for, or participate in the ownership, management, operation or control of, or be connected in any manner through the investment of capital, lending of money, or rendering
of services or otherwise, with, any business of the type and character engaged in and competitive with the Business. For these purposes, ownership of securities of one percent (1%) or less of any class of securities of a public company will not
be considered to be competition with the Business; 

 (ii) solicit, persuade or attempt to solicit or persuade or cause or authorize to be
solicited or persuaded any existing customer or client, or potential customer or client to which the Companies have made a presentation or with which the Companies have been having discussions, to cease doing business with or decrease the amount of
business done with or not to hire the Companies, or to commence doing Business with or increase the amount of Business done with or hire another company; 
 (iii) solicit, persuade or attempt to solicit or persuade or cause or authorize to be solicited or persuaded the business of any person or entity that is a customer or client of the Companies, or was
their customer or client within two (2) years prior to cessation of Employee’s employment by any of the Companies or any of their subsidiaries, for the purpose of competing with the Companies in the Business. 
 Until two (2) years following the date of the termination of Employee’s employment with the Company for whatever reason (the “Period of
Non-solicitation”), Employee will not (whether or not then employed by the Company for any reason), directly or indirectly, without the Company’s prior written consent: solicit, persuade or attempt to solicit or persuade or cause or
authorize to be solicited or persuaded for employment, or employ or cause or authorize directly or indirectly to be employed, on behalf of Employee or any other person or entity, any individual who is or was at any time within six (6) months
prior to cessation of Employee’s employment by the Companies, an employee or consultant of any of the Companies. 
 If
Employee breaches or violates any of the provisions of this Section 8, the running of the Period of Non-Competition and the Period of Non-Solicitation (but not of any of Employee’s obligations under this Section 8) will be
tolled with respect to Employee during the continuance of any actual breach or violation. In addition to any other rights or remedies the Company may have under this Agreement applicable law, the Company will be entitled to receive from Employee
reimbursement for all attorneys’ and paralegal fees and expenses and court costs incurred by the Companies in enforcing this Agreement and will have the right and remedy to require Employee to account for and pay over to the Company all
compensation, profit, monies, accruals or other benefits derived or received, directly or indirectly, by Employee from the action constituting a breach or violation of this Section 8. 
 b. Exceptions. Utilities and Telecommunications operators (such as FPL, Verizon, AT&T), cable companies, power development
companies, and other non-construction or installation customers of the Company shall not be considered engaged in and competitive with the Business. 
 9. Reasonable Restrictions. The parties acknowledge and agree that the restrictions set forth in Sections 6, 7, and 8 of this Agreement are reasonable for the purpose of protecting the value
of the business and goodwill of the Companies. It is the desire and intent of the parties that the provisions of Sections 6, 7, and 8 be enforced to the fullest extent permissible under the laws and public policies applied in each jurisdiction in
which enforcement is sought. If any particular provisions or portions of Sections 6, 7 or 8 are adjudicated to be invalid or unenforceable, then such section will be deemed amended to delete such provision or portion adjudicated to be invalid or
unenforceable; provided, however, that such amendments to apply only with the respect to the operation of such section in the particular jurisdiction in which such adjudication is made. 
  

 10. Breach or Threatened Breach. The parties acknowledge and agree that the
performance of the obligations under Sections 6, 7 and 8 by Employee are special, unique and extraordinary in character, and that in the event of the breach or threatened breach by Employee of the terms and conditions of Sections 6, 7 or 8, the
Companies will suffer irreparable injury and that monetary damages would not provide an adequate remedy at law and that no remedy at law may exist. Accordingly, in the event of such breach or threatened breach, the Company will be entitled, if it so
elects and without the posting of any bond or security, to institute and prosecute proceedings in any court of competent jurisdiction, in law and in equity, to obtain immediate injunctive relief (including, but not limited to, temporary restraining
orders, preliminary/temporary injunctions, permanent injunctions, and such other injunctive relief as may be appropriate at law or in equity); damages for any breach of Sections 6, 7 or 8 or to enforce the specific performance of this Agreement by
Employee or to enjoin Employee from breaching or attempting to breach Sections 6, 7 or 8. In the event the Company believes that the Employee has breached Employee’s obligations under Sections 6, 7 or 8, or threatens to do so, it shall promptly
provide the Employee written notice of such belief setting forth the basis for its belief and, (unless under exigent circumstances, as determined by the Company at its sole discretion, it would harm the Company to delay the institution of legal
proceedings) provide Employee ten (10) business days to respond to the notice, prior to the initiation of legal proceedings. 
 11. Termination. This Agreement and Employee’s employment under this Agreement may be terminated upon the occurrence of any of the events described in, and subject to the terms of, this Section 11: 
 a. Death. Immediately and automatically upon the death of Employee. 
 b. Disability. At the Company’s option, immediately upon written notice if Employee suffers a “permanent
disability”, meaning any incapacity, illness or disability of Employee which renders Employee mentally or physically unable to perform his duties under this Agreement for a continuous period of sixty (60) days, or one hundred twenty
(120) days (whether or not consecutive), during the Term, as reasonably determined by the Company. 
 c. Termination
for Cause. At the Company’s option, immediately upon notice to Employee, upon the occurrence of any of the following events (each “Cause”), (i) Employee being convicted of any felony involving moral turpitude
(whether or not against the Company or its subsidiaries or affiliates); (ii) a material failure of Employee to perform Employee’s responsibilities after thirty (30) days’ written notice given by the Chief Executive Officer to
Employee, which notice shall identify the Employee’s failure in sufficient detail and grant Employee an opportunity to cure such failure within such thirty (30) day period (“Notice”); (iii) a breach by Employee of any of
his obligations under Sections 6, 7 or 8; (iv) any fraud, embezzlement, theft or material act of dishonesty by Employee against the Company or any of its subsidiaries or affiliates; (v) a material violation by Employee of
any of the policies or procedures of the Company or any of its subsidiaries or affiliates, including without limitation the 2007 Company Handbook, provided, however, that if such violation is curable, then Employee will be given
thirty (30) days written Notice and the opportunity to cure such violation; or (vi) Employee voluntarily terminates this Agreement or leaves the employ of the Company or its subsidiaries or affiliates for any reason, other than Good
Reason. 
  

 d. Termination Without Cause. At the Company’s option for any reason, or
no reason, upon thirty (30) days’ notice to Employee given by the CEO. 
 e. Termination With Good
Reason. At Employee’s option, upon the occurrence of any of the following: (i) a diminution in the Employee’s Base Salary and Bonus; (ii) a material diminution in the Employee’s title, authority, duties, or
responsibilities; (iii) any other action or inaction that constitutes a material breach by the Company of this Agreement, or (iv) Jose Mas shall no longer be the Company’s Chief Executive Officer. For purposes of this Agreement, Good
Reason shall not be deemed to exist unless the Employee’s termination of employment for Good Reason occurs within six (6) months following the initial existence of one of the conditions specified in clauses (i) through
(iv) above, the Employee provides the Company with written notice of the existence of such condition within 90 days after the initial existence of the condition, and the Company fails to remedy the condition within 30 days after its receipt of
such notice. 
 f. Payments After Termination. If this Agreement and Employee’s employment hereunder are
terminated for the reasons set forth in Sections 11(a) or 11(b), then Employee or Employees estate will receive a lump sum equal to the Base Salary and the Bonus as of the date of death or disability, and all of Employee’s
restricted stock shall immediately vest. If the Company terminates this Agreement and Employee’s employment hereunder for the reasons set forth in Section 11(c) then (i) Employee will receive his Base Salary through the date of
termination and (ii) Employee will forfeit any entitlement that Employee may have to receive any Bonus. If this Agreement is terminated for the reason set forth in Section 11(d) or Section 11(e), then (i) Employee will receive
one year of his Base Salary, (ii) his Bonus, (iii) a pro-rata portion of Bonus earned through the date of termination, (iv) Employee shall immediately vest 2,778 shares for every full or partial month Employee was employed by the
Company and the remainder of the Restricted Stock shall vest on the Vesting Date, and (iv) benefits set forth in Section 4(b) hereof (collectively, the “Severance Benefits”), payable over a period of six (6) months
from the date of termination (the “Severance Period”). The Severance Benefit shall be payable in accordance with the Company’s payroll procedures and subject to applicable withholdings and Employee complying with the
obligations set forth in Sections 6, 7 and 8. The Severance Benefits shall also be conditioned upon Employee’s execution of a general release that becomes irrevocable within 30 days after termination of the Employee’s employment.

 g. General. Notwithstanding anything to the contrary set forth in this Agreement, the provision of payments
after termination in accordance with the provisions of Section 11(f) above, shall not be a bar to the Employee’s continued entitlement from the Company of (i) reimbursements of proper expenses, (ii) expense allowances,
(iii) vested benefit and welfare entitlements; (iv) unemployment compensation, (v) workers compensation benefits, (vi) accrued vacation time (if consistent with Company policy), (vii) Base Salary through date of termination.
Upon payment by the Company of the amounts described in Section 11(f) and this Section 11(g), Employee will not be entitled to receive any further compensation or benefits from the Company. 
  

 h. Change in Control. If, prior to the completion of the Term, there occurs a
Change in Control, as defined in Exhibit A, then and in that case only, in lieu of any payments previously described in this Section 11, all Employee’s restricted stock then outstanding shall immediately vest and Employee will receive an
amount on the date of the Change of Control equal to 1.5 times the Employee’s Base Salary set forth in Section 4(a) above and his Bonus, and shall continue to receive those benefits as set forth in Section 4(b) hereof for a period of
12 months. 
 12. Compliance with Section 409A:  
 a. General. It is the intention of both the Company and the Employee that the benefits and rights to which the Employee could
be entitled pursuant to this Agreement comply with Section 409A of the Internal Revenue Code and the Treasury Regulations and other guidance promulgated or issued thereunder (“Section 409A”), to the extent that the requirements of
Section 409A are applicable thereto, and the provisions of this Agreement shall be construed in a manner consistent with that intention. If the Employee or the Company believes, at any time, that any such benefit or right that is subject to
Section 409A does not so comply, it shall promptly advise the other and shall negotiate reasonably and in good faith to amend the terms of such benefits and rights such that they comply with Section 409A (with the most limited possible
economic effect on the Employee and on the Company). 
 b. Distributions on Account of Separation from
Service. If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Employee’s employment shall be made unless and until the Employee
incurs a “separation from service” within the meaning of Section 409A. 
 c. 6 Month Delay for Specified
Employees. 
 (i) If the Employee is a “specified employee”, then no payment or benefit that is payable on
account of the Employee’s “separation from service”, as that term is defined for purposes of Section 409A, shall be made before the date that is six months after the Employee’s “separation from service” (or, if
earlier, the date of the Employee’s death) if and to the extent that such payment or benefit constitutes deferred compensation (or may be nonqualified deferred compensation) under Section 409A and such deferral is required to comply with
the requirements of Section 409A. Any payment delayed by reason of the prior sentence, and interest on any such delayed payment determined at the rate being paid by the Company on its senior credit facility (the “Senior Credit Interest
Rate”) determined as of the date of termination of the Employee’s employment, shall be paid in a single lump sum at the end of such required delay period in order to catch up to the original payment schedule, and any benefits delayed by
reason of the prior sentence, shall be provided at the end of such required delay period. 

 (ii) For purposes of this provision, the Employee shall be considered to be a
“specified employee” if, at the time of his or her separation from service, the Employee is a “key employee”, within the meaning of Section 416(i) of the Code, of the Company (or any person or entity with whom the Company
would be considered a single employer under Section 414(b) or Section 414(c) of the Code) any stock in which is publicly traded on an established securities market or otherwise. 
 d. No Acceleration of Payments. Neither the Company nor the Employee, individually or in combination, may accelerate any
payment or benefit that is subject to Section 409A, except in compliance with Section 409A and the provisions of this Agreement, and no amount that is subject to Section 409A shall be paid prior to the earliest date on which it may be
paid without violating Section 409A. 
 e. Treatment of Each Installment as a Separate Payment. For purposes
of applying the provisions of Section 409A to this Agreement, each separately identified amount to which the Employee is entitled under this Agreement shall be treated as a separate payment. In addition, to the extent permissible under
Section 409A, any series of installment payments under this Agreement shall be treated as a right to a series of separate payments. 
 f. Taxable Reimbursements and In-Kind Benefits. 
 (i) Any
reimbursements by the Company to the Employee of any eligible expenses under this Agreement that are not excludable from the Employee’s income for Federal income tax purposes (the “Taxable Reimbursements) shall be made by no later than the
earlier of the date on which they would be paid under the Company’s normal policies and the last day of the taxable year of the Employee following the year in which the expense was incurred. 
 (ii) The amount of any Taxable Reimbursements, and the value of any in-kind benefits to be provided to the Employee, during any taxable
year of the Employee shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year of the Employee. 
 (iii) The right to Taxable Reimbursement, or in-kind benefits, shall not be subject to liquidation or exchange for another benefit. 
 13. Miscellaneous. 
 a. Survival. The provisions Sections 6, 7, 8, 10, 11, 12 and 13 will survive the termination or expiration of this Agreement for any reason. 
 b. Entire Agreement. This Agreement constitutes the entire agreement of the parties pertaining to its subject matter and
supersedes all prior or contemporaneous agreements or understandings between the parties pertaining to the subject matter of this Agreement, and there are no promises, agreements, conditions, undertakings, warranties, or representations, whether
written or oral, expressed or implied, between the parties other than as set forth in this Agreement. 
  

 c. Modification. This Agreement may not be amended or modified, or any
provision waived, unless in writing and signed by both parties. 
 d. Waiver. Failure of a party to enforce one or
more of the provisions of this Agreement or to require at any time performance of any of the obligations of this Agreement will not be construed to be a waiver of such provisions by such party nor to in any way affect the validity of this Agreement
or such party’s right thereafter to enforce any provision of this Agreement, nor to preclude such party from taking any other action at any time which it would legally be entitled to take. 
 e. Successors and Assigns. This Agreement may not be assigned or the duties delegated unless in writing and signed by both
parties, except for any assignment by the Company occurring by operation of law or the transfer of substantially all of the Company’s assets. Subject to the foregoing, this Agreement will inure to the benefit of, and be binding upon, the
parties and their heirs, beneficiaries, personal representatives, successors and permitted assigns. 
 f. Notices.
Any notice, demand, consent, agreements, request, or other communication required or permitted under this Agreement will be in writing and will be, (i) mailed by first-class mail, registered or certified, return receipt requested, postage
prepaid, (ii) delivered personally by independent courier, or (iii) transmitted by facsimile, to the parties at the addressee as follows (or at such other addresses as will be specified by the parties by like notice. If to Employee, then
to: 
 Ray Harris 
 6542 Woodland Drive 
 Dallas, Texas 75225 
 If to the Company, then to: 
 MasTec, Inc. 
 Douglas Entrance, 12th Floor 
 80 Douglas Road 
 Coral Gables, Florida 
 Attn: Legal Department 
 Facsimile: 305-406-1907 
 Each
party may designate by notice in writing a new address to which any notice, demand, consent, agreement, request or communication may thereafter be given, served or sent. Each notice, demand, consent, agreement, request or communication that is
mailed, hand delivered or transmitted in the manner described above will be deemed received for all purposes at such time as it is delivered to the addresses (with the return receipt, the courier delivery receipt or the telecopier answer back
confirmation being deemed conclusive evidence of such delivery) or at such time as delivery is refused by the addressee upon presentation. 
 g. Severability. If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, then such invalidity or unenforceability will not affect the
validity and enforceability of the other provisions of this Agreement and the provision held to be invalid or unenforceable will be enforced as nearly as possible according to its original terms and intent to eliminate such invalidity or
unenforceability. 
  

 h. Counterparts. This Agreement may be executed in any number of counterparts,
and all counterparts will collectively be deemed to constitute a single binding agreement. 
 i. Governing Law;
Venue. This Agreement will be governed by the laws of the State of Florida, without regard to its conflicts of law principles. Employee consents to the jurisdiction of any state or federal court located within Miami-Dade County, State of
Florida, agrees that such courts shall be the exclusive jurisdiction for any suit, action, or legal proceeding arising directly or indirectly out of this Agreement, and consents that all service of process may be made by registered or certified mail
directed to Employee at the address in Section 13(f) of this Agreement. Employee waives any objection which Employee may have based on lack of personal jurisdiction or improper venue or forum non conveniens to any suit or proceeding instituted
by the Company under this Agreement in any state or federal court located within Miami-Dade County, Florida and consents to the granting of such legal or equitable relief as is deemed appropriate by the court. This provision is a material inducement
for the Company to enter into this Agreement with Employee. 
 j. Participation of Parties. The parties
acknowledge that this Agreement and all matters contemplated herein have been negotiated between both of the parties and their respective legal counsel and that both parties have participated in the drafting and preparation of this Agreement from
the commencement of negotiations at all times through execution. Therefore, the parties agree that this Agreement will be interpreted and construed without reference to any rule requiring that this Agreement be interpreted or construed against the
party causing it to be drafted. 
 k. Injunctive Relief. It is possible that remedies at law may be inadequate
and, therefore, the parties will be entitled to equitable relief including, without limitation, injunctive relief, specific performance or other equitable remedies in addition to all other remedies provided hereunder or available to the parties
hereto at law or in equity. 
 l. Waiver of Jury Trial. EACH OF THE COMPANY AND EMPLOYEE IRREVOCABLY WAIVES ALL
RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THE PROVISIONS OF THIS AGREEMENT. 
 m. Right to Setoff. The Company will be entitled, in its discretion and in addition to any other remedies it may have in law or in equity, to set-off against any amounts payable to Employee under this Agreement or otherwise
the amount of any obligations of Employee to the Company under this Agreement that are not paid by Employee when due. In the event of any such setoff, the Company will promptly provide the Employee with a written explanation of such setoff, and an
opportunity to register a written protest thereof. 
  

 n. Litigation: Prevailing Party. In the event of any litigation,
administrative proceeding, arbitration, mediation or other proceeding with regard to this Agreement, the prevailing party will be entitled to receive from the non-prevailing party and the non-prevailing party will pay upon demand all court costs and
all reasonable fees and expenses of counsel and paralegals for the prevailing party. 
 o. Descriptive Headings.
The descriptive headings herein are inserted for convenience only and are not intended to be part of or to affect the meaning or interpretation of this Agreement. 
 [SIGNATURES APPEAR ON FOLLOWING PAGE] 

 EXECUTED as of the date set forth in the first paragraph of this Agreement.

  

			
	EMPLOYEE
	
	 /s/ RAY HARRIS

	RAY HARRIS
	
	MASTEC, INC.
		
	By:	 	 /s/ Jose Mas

		 	Jose Mas, Chief Executive Officer

 EXHIBIT A 
 “Change in Control” shall mean: 
  

	(a)	Acquisition By Person of Substantial Percentage. The acquisition by a Person (including “affiliates” and “associates” of such Person, but
excluding the Company, and “parent” or “subsidiary” of the Company, or any employee benefit plan of the Company) of a sufficient number of shares of the Common Stock, or securities convertible into the Common Stock, and whether
through direct acquisition of shares or by merger, consolidation, share exchange, reclassification of securities or recapitalization of or involving the Company or any “parent” or “subsidiary” of the Company, to constitute actual
or beneficial owner of 51% or more of the Common Stock; 

  

	(b)	Disposition of Assets. Any sale, lease, transfer, exchange, mortgage, pledge or other disposition, in one transaction or a series of transactions, of all or
substantially all of the assets of the Company or of any “subsdiary” of the Company; or 

  

	(c)	Substantial Change of Board Members. During any fiscal year of the Company, individuals who at the beginning of such year constitute the Board cease for any
reason to constitute at least a majority thereof, unless the election of each director who was not a director at the beginning of such period has been approved in advance by a majority of the directors in office at the beginning of the fiscal year.

 For purposes of this Section, the terms “affiliate,” “associate,” “parent” and
“subsidiary” shall have the respective meanings ascribed to such terms in Rule 12b-2 under Section 12 of the 1934 Act.

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