SEC Contract Filing

Filing Date: 2018-11-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>3
<FILENAME>bharatshahemploymentagreem.htm
<DESCRIPTION>BHARAT SHAH EMPLOYMENT AGREEMENT
<TEXT>
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<div><a name="sddcaace326864bbc835b7a1d788bacc4"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This EMPLOYMENT AGREEMENT (this "</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:11pt;">") dated as of July 17, 2018, between IEA Energy Services, LLC a Delaware limited liability company (the "</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:11pt;">"), and Bharat Shah ("</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Executive</font><font style="font-family:inherit;font-size:11pt;">").</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Executive accepted a position as Chief Accounting Officer effective November 14, 2017 (the "Effective Date");</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Company and Executive desire to enter into this employment agreement (this "</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:11pt;">") pursuant to the terms, provisions and conditions set forth herein, which will govern the terms of Executive's employment with the Company.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein, and intending to be legally bound hereby, the parties hereto agree as set forth below:</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-left:6px;text-align:left;text-indent:92px;"><font style="text-align:left;font-family:inherit;font-size:11pt;padding-right:45px;">1.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Term</font><font style="font-family:inherit;font-size:11pt;">. (a) The term of Executive's employment under this Agreement shall be effective as of the date set forth above (the "</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Effective Date</font><font style="font-family:inherit;font-size:11pt;">"), and shall continue until the third (3rd) anniversary thereof (the "</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Initial Expiration Date</font><font style="font-family:inherit;font-size:11pt;">"), provided that on the Initial Expiration Date and each subsequent anniversary of the Initial Expiration Date, the term of Executive's employment under this Agreement shall be automatically extended for one additional year unless either party provides written notice to the other party at least ninety (90) days prior to the Initial Expiration Date (or any such anniversary, as applicable) that Executive's employment hereunder shall not be so extended (in which case Executive's employment and this Agreement shall terminate on the Initial Expiration Date or expiration of the extended term, as applicable); </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided, however</font><font style="font-family:inherit;font-size:11pt;">, that Executive's employment and this Agreement may be terminated earlier at any time pursuant to the provisions of Section 4. The period of time from the Effective Date through the termination of this Agreement and Executive's employment hereunder pursuant to its terms is herein referred to as the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Term</font><font style="font-family:inherit;font-size:11pt;">&#8221;; and the date on which the Term is scheduled to expire (i.e., the Initial Expiration Date or the scheduled expiration of the extended term, if applicable) is herein referred to as the "</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Expiration Date</font><font style="font-family:inherit;font-size:11pt;">".</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-left:6px;text-align:left;text-indent:137px;"><font style="text-align:left;font-family:inherit;font-size:11pt;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:11pt;">Executive agrees and acknowledges that the Company has no obligation to extend the Term or to continue Executive's employment following the Expiration Date, and Executive expressly acknowledges that no promises or understandings to the contrary