UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
October 1, 2007
INTEGRATED ELECTRICAL SERVICES, INC.
(Exact name of registrant as specified in its charter)
Delaware 001-13783 76-0542208
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification No.)
1800 West Loop South, Suite 500
Houston, Texas 77027
(Address of principal (Zip Code)
executive offices)
|
Registrant's telephone number, including area code: (713) 860-1500
(Former name or former address, if changed since last report): Not applicable
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
|
Item 1.01 Entry into a Material Definitive Agreement.
On October 1, 2007, Integrated Electrical Services, Inc., a Delaware corporation (the "Company"), and certain of its subsidiaries (collectively, the "Indemnitors") entered into the third amendment (the "Third Amendment") and the fourth amendment (the "Fourth Amendment") to the Restated Underwriting, Continuing Indemnity, and Security Agreement, dated as of May 12, 2006 (as amended, the "Surety Agreement"), with Federal Insurance Company and certain of its affiliates and subsidiaries and their respective co-sureties and reinsurers (collectively, the "Surety"). Pursuant to the Third Amendment, which was effective as of May 1, 2007, the limitation on the Bonded Backlog (as defined in the Surety Agreement) was increased from $80,000,000 to $100,000,000 and pursuant to the Fourth Amendment, the limitation on the Bonded Backlog was further increased from $100,000,000 to $150,000,000. Under the Third Amendment, the Indemnitors agreed to pay the Surety a facility fee of $100,000, which payment was deducted from the existing pledged collateral for the bonds.
The foregoing description of the Third Amendment and Forth Amendment is qualified in its entirety by reference to the Third Amendment and Forth Amendment, which are incorporated herein by reference and attached hereto as Exhibits 10.1 and 10.2, respectively.
ITEM 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Description
------ -----------
10.1 Third Amendment, dated as of May 1, 2007, to the Restated
Underwriting, Continuing Indemnity, and Tecurity Agreement,
dated May 12, 2006, by Integrated Electrical Services, Inc.,
certain of its Subsidiaries and Federal Insurance Company and
certain of its affiliates
10.2 Fourth Amendment, dated as of October 1, 2007, to the Restated
Underwriting, Continuing Indemnity, and Security Agreement,
dated May 12, 2006, by Integrated Electrical Services, Inc.,
certain of its subsidiaries and Federal Insurance Company and
certain of its affiliates
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
INTEGRATED ELECTRICAL SERVICES, INC.
By: /s/ Curt L. Warnock
-----------------------------------------
Curt L. Warnock
Senior Vice President and General Counsel
Date: October 1, 2007
|
EXHIBIT INDEX
Exhibit
Number Description
------ -----------
10.1 Third Amendment, dated as of May 1, 2007, to the Restated
Underwriting, Continuing Indemnity, and Security Agreement,
dated May 12, 2006, by Integrated Electrical Services, Inc.,
certain of its subsidiaries and Federal Insurance Company and
certain of its affiliates
10.2 Fourth Amendment, dated as of October __, 2007, to the
Restated Underwriting, Continuing Indemnity, and Security
Agreement, dated May 12, 2006, by Integrated Electrical
Services, Inc., certain of its subsidiaries and Federal
Insurance Company and certain of its affiliates
|
Exhibit 10.1
THIRD AMENDMENT TO RESTATED UNDERWRITING, CONTINUING
INDEMNITY, AND SECURITY AGREEMENT
THIS THIRD AMENDMENT TO RESTATED UNDERWRITING, CONTINUING INDEMNITY, AND SECURITY AGREEMENT ("this Third Amendment") is entered into as of the 1st day of May, 2007, by and among INTEGRATED ELECTRICAL SERVICES, INC., a Tennessee corporation, and certain of its Affiliates and Subsidiaries identified on Exhibit A, in their capacity as named Principal under any Bond (individually and collectively "Principal"); and INTEGRATED ELECTRICAL SERVICES, INC., a Delaware corporation, and certain of its Affiliates and Subsidiaries identified on Exhibit B (along with Principal, individually and collectively "Indemnitors"); and FEDERAL INSURANCE COMPANY, an Indiana corporation, its Affiliates and Subsidiaries and their respective co-sureties and reinsurers, and their respective successors and permitted assigns (individually and collectively "Surety"). All capitalized terms will have the meaning set out in Section 1.
W I T N E S S E T H:
WHEREAS, Indemnitors and Surety entered into that certain Restated Underwriting, Continuing Indemnity, and Security Agreement dated as of May 12, 2006, as amended by First Amendment to Restated Underwriting, Continuing Indemnity, and Security Agreement dated as of October 31, 2006, and Rider to Add Principal/Indemnitor and Second Amendment to Restated Underwriting, Continuing Indemnity, and Security Agreement dated as of December 28, 2006 (collectively "the Agreement"), the terms of which are incorporated herein by this reference; and
WHEREAS, the parties desire to enter into this Third Amendment for the purpose of amending and modifying the Agreement, as set out in this Third Amendment.
NOW, THEREFORE, in consideration of the foregoing premises and other mutual considerations, the undersigned agree as follows:
1. Definitions. Unless otherwise specifically defined in this Third Amendment, all capitalized terms will have the meaning set out in the Agreement.
2. Bonds; Conditions Precedent to all Bonds. The reference to an Eighty Million Dollars ($80,000,000) limitation on Bonded Backlog is deleted from paragraph (m) of Section 3 of the Agreement and replaced with a reference to One Hundred Million Dollars ($100,000,000).
3. Security Interest; Obligations Secured. Subject to the provisions of
Section 4 of this Third Amendment regarding the payment of a facility fee, and
provided, that, no Event of Default has occurred Surety will return to
Indemnitors Five Million Dollars ($5,000,000) of the Existing Pledged
Collateral, which will be returned free and clear of all Liens. Other than the
Existing Pledged Collateral that is returned to Indemnitors by Surety, Surety
will retain its first priority Lien and security interest in all of the Existing
Pledged Collateral in the principal amount of Nine Million Two Hundred
Thirty-Eight Thousand Forty 17/100 Dollars ($9,238,040.17) (after payment of the
facility fee referred to in Section 4) (plus any interest and
earnings that accrue after May 30, 2007) as additional security for any and all Surety Loss. Surety will also retain the Existing Letters of Credit. On May 31, 2007, the principal amount of the Existing Pledged Collateral that is retained by Surety plus the aggregate face amount of the Existing Letters of Credit will be equal to Thirty Million Two Hundred Thirty-Five Thousand Nine Hundred Ninety-Five 67/100 Dollars ($30,235,995.67).
4. Facility Fee. In consideration of Surety's agreement to enter into this Third Amendment, Indemnitors will pay to Surety a facility fee in the amount of One Hundred Thousand Dollars ($100,000). The foregoing facility fee will be due and payable on May 30, 2007, and it will be deducted by Surety from the Existing Pledged Collateral.
5. Consent of Lender. Indemnitors will obtain the agreement of Bank of America, N.A. to amend the existing Intercreditor Agreement to increase the limitation on the aggregate penal amount of Bonds that may be issued per month from and after June 1, 2006, to at least Twenty Million Dollars ($20,000,000) per month.
6. Representations and Warranties of Indemnitors. Each Indemnitor represents and warrants to Surety that all of the representations and warranties made by Indemnitors in the Agreement (whether made as an Indemnitor or as a Principal) and in this Third Amendment are true and correct as applicable to such Principal or Indemnitor in all material respects, as of the date hereof (except to the extent its representations and warranties specifically relate to an earlier date).
7. Continuing Effect. Except as specifically set forth in this Third Amendment, the Agreement remains in full force and effect as originally written.
8. Counterparts. This Third Amendment may be executed by the parties independently in any number of counterparts, all of which together will constitute but one and the same instrument which is valid and effective as if all parties had executed the same counterpart.
IN WITNESS WHEREOF, the parties hereto have executed this Third Amendment as of the day and year first above written.
SURETY:
FEDERAL INSURANCE COMPANY
By: _________________________________
Its: _________________________________
PRINCIPAL:
INTEGRATED ELECTRICAL SERVICES, INC.
By: ____________________________________
Curt Warnock, Senior Vice President
ALADDIN WARD ELECTRIC & AIR, INC.
AMBER ELECTRIC, INC.
ARC ELECTRIC, INCORPORATED
BACHOFNER ELECTRIC, INC.
BRYANT ELECTRIC COMPANY, INC.
COMMERCIAL ELECTRICAL CONTRACTORS, INC.
CROSS STATE ELECTRIC, INC.
DANIEL ELECTRICAL CONTRACTORS, INC.
DAVIS ELECTRICAL CONSTRUCTORS, INC.
ELECTRO-TECH, INC.
FEDERAL COMMUNICATIONS GROUP, INC.
HATFIELD REYNOLDS ELECTRIC COMPANY
IES HOUSTON RESOURCES, INC.
KAYTON ELECTRIC, INC.
MARK HENDERSON, INCORPORATED
MENNINGA ELECTRIC, INC.
MID-STATES ELECTRIC COMPANY, INC.
MITCHELL ELECTRIC COMPANY, INC.
MURRAY ELECTRICAL CONTRACTORS, INC.
NEWCOMB ELECTRIC COMPANY, INC.
NEW TECHNOLOGY ELECTRICAL CONTRACTORS,
INC.
PAN AMERICAN ELECTRIC, INC.
PAULIN ELECTRIC COMPANY, INC.
PRIMENET, INC.
PRIMO ELECTRIC COMPANY
RODGERS ELECTRIC COMPANY, INC.
RON'S ELECTRIC, INC.
THOMAS POPP & COMPANY
VALENTINE ELECTRICAL, INC.
By: ____________________________________
Curt Warnock
Vice President
BEXAR ELECTRIC COMPANY, LTD.
By: BW/BEC Inc., its general partner
By: ______________________________________
Curt Warnock
Vice President
HAYMAKER ELECTRIC, LTD.
By: General Partner, Inc., its general partner
By: ______________________________________
Curt Warnock
Vice President
HOUSTON-STAFFORD ELECTRICAL
CONTRACTORS LP
By: Houston-Stafford Management LLC, its
general partner
By: ______________________________________
Curt Warnock
Vice President
MILLS ELECTRIC LP
By: Mills Management LLC
By: ______________________________________
Curt Warnock
Vice President
NEAL ELECTRIC LP
By: BW/BEC Inc., its general partner
By: ______________________________________
Curt Warnock
Vice President
RAINES ELECTRIC LP
By: Raines Management LLC, its general partner
By: ______________________________________
Curt Warnock
Vice President
RIVIERA ELECTRIC, LLC
By: __________________________________________
Curt Warnock
Vice President
INDEMNITORS:
INTEGRATED ELECTRICAL SERVICES, INC.
By: __________________________________________
Curt Warnock, Senior Vice President
ALADDIN WARD ELECTRIC & AIR, INC.
AMBER ELECTRIC, INC.
ARC ELECTRIC, INCORPORATED
BACHOFNER ELECTRIC, INC.
BRYANT ELECTRIC COMPANY, INC.
COMMERCIAL ELECTRICAL CONTRACTORS, INC.
CROSS STATE ELECTRIC, INC.
DANIEL ELECTRICAL CONTRACTORS, INC.
DAVIS ELECTRICAL CONSTRUCTORS, INC.
ELECTRO-TECH, INC.
FEDERAL COMMUNICATIONS GROUP, INC.
HATFIELD REYNOLDS ELECTRIC COMPANY
IES HOUSTON RESOURCES, INC.
KAYTON ELECTRIC, INC.
MARK HENDERSON, INCORPORATED
MENNINGA ELECTRIC, INC.
MID-STATES ELECTRIC COMPANY, INC.
MITCHELL ELECTRIC COMPANY, INC.
MURRAY ELECTRICAL CONTRACTORS, INC.
NEWCOMB ELECTRIC COMPANY, INC.
NEW TECHNOLOGY ELECTRICAL CONTRACTORS,
INC.
PAN AMERICAN ELECTRIC, INC.
PAULIN ELECTRIC COMPANY, INC.
PRIMENET, INC.
PRIMO ELECTRIC COMPANY
RODGERS ELECTRIC COMPANY, INC.
RON'S ELECTRIC, INC.
THOMAS POPP & COMPANY
VALENTINE ELECTRICAL, INC.
By: __________________________________________
Curt Warnock
Vice President
BEXAR ELECTRIC COMPANY, LTD.
By: BW/BEC Inc., its general partner
By: ______________________________________
Curt Warnock
Vice President
HAYMAKER ELECTRIC, LTD.
By: General Partner, Inc., its general partner
By: ______________________________________
Curt Warnock
Vice President
HOUSTON-STAFFORD ELECTRICAL
CONTRACTORS LP
By: Houston-Stafford Management LLC, its
general partner
By: ______________________________________
Curt Warnock
Vice President
MILLS ELECTRIC LP
By: Mills Management LLC
By: ______________________________________
Curt Warnock
Vice President
NEAL ELECTRIC LP
By: BW/BEC Inc., its general partner
By: ____________________________________
Curt Warnock
Vice President
RAINES ELECTRIC LP
By: Raines Management LLC, its general partner
By: ____________________________________
Curt Warnock
Vice President
RIVIERA ELECTRIC, LLC
By: ____________________________________
Curt Warnock
Vice President
PRINCIPAL
------------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL PLACE OF
BUSINESS/CHIEF STATE OF
EXECUTIVE OFFICE TYPE OF FORMATION/ TAX I.D. TRADE NAME
PRINCIPAL (Six Months and Current) ENTITY REGISTRATION NUMBER (Past Six Months)
------------------------------------------------------------------------------------------------------------------------------------
Integrated Electrical 1800 West Loop South, Corporation Delaware 76-0542208 IES
Services, Inc. Suite 500
Houston, Texas 77027
------------------------------------------------------------------------------------------------------------------------------------
Aladdin Ward Electric & Air, 7011 15th Street East Corporation Florida 59-2137098 None
Inc. Sarasota, Florida 34243
------------------------------------------------------------------------------------------------------------------------------------
Amber Electric, Inc. 630 Kissimmee Avenue Corporation Florida 59-1888807 None
Ocoee, Florida 34761
------------------------------------------------------------------------------------------------------------------------------------
ARC Electric, Incorporated 500 Woodlake Drive Corporation Delaware 76-0581695 ARC Electric
Suite 105
Chesapeake, Virginia 23320 PrimeNet
------------------------------------------------------------------------------------------------------------------------------------
Bachofner Electric, Inc. 20811 NW Cornell Road, Corporation Delaware 76-0593514 None
Suite 400
Hillsboro, Oregon 97124
------------------------------------------------------------------------------------------------------------------------------------
Bexar Electric Company, 6223 IH 10 West Limited Texas 74-2767532 Bexar Electric Company
Ltd. San Antonio, Texas 78201 Partnership
Galbraith Electric
Bexar Communications
------------------------------------------------------------------------------------------------------------------------------------
Bryant Electric Company, Inc. 215 Balfour Drive Corporation North Carolina 56-0154780 None
Archdale, North Carolina
27263-3117
------------------------------------------------------------------------------------------------------------------------------------
Commercial Electrical 975 Millbury Street Corporation Delaware 76-0587343 Commercial
Contractors, Inc. Worcester, Massachusetts Communications
01607
Advantage Controls
------------------------------------------------------------------------------------------------------------------------------------
Cross State Electric, Inc. 2445 Railroad Street Corporation California 95-3657116 None
Corona, California 92880-
5419
------------------------------------------------------------------------------------------------------------------------------------
Daniel Electrical Contractors, 5965 NW 82nd Avenue Corporation Florida 59-2622624 Daniel Electrical
Inc. Miami, Florida 33166
Daniel Electrical
of West Palm Beach
Daniel Electrical -
Treasure Coast
East Coast Electric
Collier Electric
Collier-Daniel
Electric
------------------------------------------------------------------------------------------------------------------------------------
|
EXHIBIT A
------------------------------------------------------------------------------------------------------------------------------------
Davis Electrical 429 N. Main Street Corporation South Carolina 57-0474303 Davis International,
Constructors, Inc. Greenville, South Carolina a division of Davis
29601 Electrical
Constructors, Inc.
Davis Constructors
------------------------------------------------------------------------------------------------------------------------------------
Electro-Tech, Inc. 1235 Coney Island Drive Corporation Nevada 88-0200302 Electro-Tech of
Sparks, Nevada 89431-6035 Nevada
------------------------------------------------------------------------------------------------------------------------------------
Federal Communications 2328 West Huntington Corporation Delaware 85-0461441 Apex Tele-
Group, Inc. Drive Communications
Tempe, Arizona 85282 Training Solutions
------------------------------------------------------------------------------------------------------------------------------------
Hatfield Reynolds Electric 945 West Deer Valley Corporation Arizona 86-0565738 Hatfield Reynolds
Company Road, Electric
Suite 1
Phoenix, Arizona 85027
------------------------------------------------------------------------------------------------------------------------------------
Haymaker Electric, Ltd. 2928 6th Avenue South Limited Alabama 63-1080688 None
Birmingham, Alabama Partnership
35233-2902
------------------------------------------------------------------------------------------------------------------------------------
Houston-Stafford Electrical 10203 Mula Circle Limited Texas 52-2095983 Houston Stafford
Contractors LP Stafford, Texas 77477 Partnership Electric
HSE Electrical
Contractors
HSE Alarm Systems
HSE Special Systems
Austin-Stafford Electric
Copious Technologies
HSE Electrical Services
------------------------------------------------------------------------------------------------------------------------------------
|
------------------------------------------------------------------------------------------------------------------------------------
IES Houston Resources, Inc. 6510 Bourgeouis Road Corporation Delaware 76-0214796 Gray Electric
Houston, Texas 77066
IES Mutifamily
Resources
J.W. Gray Electrical
Contractors, LP
J.W. Gray Holdings
II LLC
J.W. Gray Electric
Company, Inc.
Pollock Summit
Electric LP
Pollock Summit
Holdings II LLC
Pollock Summit
Electric
SecurePro Alarm
Systems
Summit Electric of
Texas, Inc.
Tesla Power and
Automation L.P.
Tesla Power
(Nevada) II LLC
------------------------------------------------------------------------------------------------------------------------------------
Kayton Electric, Inc. 120 South Lincoln Street Corporation Nebraska 47-0623159 None
Holdrege, Nebraska 68949
------------------------------------------------------------------------------------------------------------------------------------
Mark Henderson, 5322 Snapfinger Park Drive Corporation Delaware 76-0576830 Mark Henderson
Incorporated Decatur, Georgia 30035-
4040
------------------------------------------------------------------------------------------------------------------------------------
Menninga Electric, Inc. 905 West 8th Street Corporation Delaware 76-0575872 None
Pella, Iowa 50219
------------------------------------------------------------------------------------------------------------------------------------
Mid-States Electric 117 North Conalco Drive Corporation Delaware 62-1746956 None
Company, Inc. Jackson, Tennessee 38301
------------------------------------------------------------------------------------------------------------------------------------
Mills Electric LP 2525 Walnut Hill Lane Limited Texas 52-2095984 Mills Electrical
Dallas, Texas 75229 Partnership Contractors
------------------------------------------------------------------------------------------------------------------------------------
Mitchell Electric Company, 7138 North 110th Avenue Corporation Arizona 86-0141057 None
Inc. Glendale, Arizona 85307-
2800
------------------------------------------------------------------------------------------------------------------------------------
Murray Electrical 2250 Aviation Drive Corporation Delaware 74-2913067 None
Contractors, Inc. Roseburg, Oregon 97470
------------------------------------------------------------------------------------------------------------------------------------
|
------------------------------------------------------------------------------------------------------------------------------------
Neal Electric LP 1608 Royston Lane Limited Texas 76-0657784 None
Building 2 Partnership
Round Rock, Texas 78664
------------------------------------------------------------------------------------------------------------------------------------
Newcomb Electric Company, 2708 Shenandoah Avenue Corporation Delaware 76-0611653 None
Inc. Roanoke, Virginia 24017
------------------------------------------------------------------------------------------------------------------------------------
New Technology Electrical 20811 NW Cornell Road Corporation Delaware 74-2918933 New Tech Electric
Contractors, Inc. Suite 400
Hillsboro, Oregon 97124- New Tech Services
5611
Data Tech Communications
Bachofner
Electric-Oregon
Bachofner Datacomm, Inc.
------------------------------------------------------------------------------------------------------------------------------------
Pan American Electric, Inc. 1300 Fort Negley Boulevard Corporation Tennessee 62-0985675 None
Nashville, Tennessee 37203
------------------------------------------------------------------------------------------------------------------------------------
Paulin Electric Company, Inc. 8803 National Turnpike Corporation Delaware 74-2879154 Paulin Electric
Fairdale, Kentucky 40118
Woods Electric
Hanen Electric
T&O Controls
------------------------------------------------------------------------------------------------------------------------------------
PrimeNet, Inc. 220 Eighth Avenue NW Corporation Delaware 74-2902100 None
Glen Burnie, Maryland
21061
------------------------------------------------------------------------------------------------------------------------------------
Primo Electric Company 220 Eighth Avenue NW Corporation Delaware 74-2902099 B&D Electric, Inc.
Glen Burnie, Maryland
21061 PrimeNet
------------------------------------------------------------------------------------------------------------------------------------
Raines Electric LP 2525 Walnut Hill Lane Limited Texas 52-2132532 Raines Electrical
Dallas, Texas 75229 Partnership Contractors
------------------------------------------------------------------------------------------------------------------------------------
Riviera Electric, LLC 5001 South Zuni Limited Delaware 03-0507360 Riviera Electric
Littleton, Colorado 80120 Liability
Company
------------------------------------------------------------------------------------------------------------------------------------
Rodgers Electric Company, 1611 East Marine View Corporation Washington 91-1004905 None
Inc. Drive
Everett, Washington 98201
------------------------------------------------------------------------------------------------------------------------------------
Ron's Electric, Inc. 2017 Demers Avenue Corporation Delaware 74-2925506 IES-North Plains
Grand Forks, North Dakota
58201
------------------------------------------------------------------------------------------------------------------------------------
Thomas Popp & Company 10152 International Blvd. Corporation Ohio 31-1112666 None
Cincinnati, Ohio 45246
------------------------------------------------------------------------------------------------------------------------------------
Valentine Electrical, Inc. 104 Green Chimneys Court Corporation Delaware 74-2916344 Valentine
Ashland, Virginia 23005 Communications
------------------------------------------------------------------------------------------------------------------------------------
|
INDEMNITORS
------------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL PLACE OF
BUSINESS/CHIEF STATE OF
EXECUTIVE OFFICE TYPE OF FORMATION/ TAX I.D. TRADE NAME
INDEMNITOR (Six Months and Current) ENTITY REGISTRATION NUMBER (Past Six Months)
------------------------------------------------------------------------------------------------------------------------------------
Integrated Electrical 1800 West Loop South, Corporation Delaware 76-0542208 IES
Services, Inc. Suite 500
Houston, Texas 77027
------------------------------------------------------------------------------------------------------------------------------------
Aladdin Ward Electric & Air, 7011 15th Street East Corporation Florida 59-2137098 None
Inc. Sarasota, Florida 34243
------------------------------------------------------------------------------------------------------------------------------------
Amber Electric, Inc. 630 Kissimmee Avenue Corporation Florida 59-1888807 None
Ocoee, Florida 34761
------------------------------------------------------------------------------------------------------------------------------------
ARC Electric, Incorporated 500 Woodlake Drive Corporation Delaware 76-0581695 ARC Electric
Suite 105
Chesapeake, Virginia 23320 PrimeNet
------------------------------------------------------------------------------------------------------------------------------------
Bachofner Electric, Inc. 20811 NW Cornell Road, Corporation Delaware 76-0593514 None
Suite 400
Hillsboro, Oregon 97124
------------------------------------------------------------------------------------------------------------------------------------
Bexar Electric Company, 6223 IH 10 West Limited Texas 74-2767532 Bexar Electric
Ltd. San Antonio, Texas 78201 Partnership Company
Galbraith Electric
Bexar Communications
------------------------------------------------------------------------------------------------------------------------------------
Bryant Electric Company, 215 Balfour Drive Corporation North Carolina 56-0154780 None
Inc. Archdale, North Carolina
27263-3117
------------------------------------------------------------------------------------------------------------------------------------
Commercial Electrical 975 Millbury Street Corporation Delaware 76-0587343 Commercial
Contractors, Inc. Worcester, Massachusetts Communications
01607
Advantage Controls
------------------------------------------------------------------------------------------------------------------------------------
Cross State Electric, Inc. 2445 Railroad Street Corporation California 95-3657116 None
Corona, California 92880-5419
------------------------------------------------------------------------------------------------------------------------------------
Daniel Electrical Contractors, 5965 NW 82nd Avenue Corporation Florida 59-2622624 Daniel Electrical
Inc. Miami, Florida 33166
Daniel Electrical of
West Palm Beach
Daniel Electrical -
Treasure Coast
East Coast Electric
Collier Electric
Collier-Daniel
Electric
------------------------------------------------------------------------------------------------------------------------------------
|
EXHIBIT B
------------------------------------------------------------------------------------------------------------------------------------
Davis Electrical 429 N. Main Street Corporation South Carolina 57-0474303 Davis International,
Constructors, Inc. Greenville, South Carolina a division of Davis
29601 Electrical
Constructors, Inc.
Davis Constructors
------------------------------------------------------------------------------------------------------------------------------------
Electro-Tech, Inc. 1235 Coney Island Drive Corporation Nevada 88-0200302 Electro-Tech of
Sparks, Nevada 89431-6035 Nevada
------------------------------------------------------------------------------------------------------------------------------------
Federal Communications 2328 West Huntington Drive Corporation Delaware 85-0461441 Apex Tele-
Group, Inc. Tempe, Arizona 85282 Communications
Training Solutions
------------------------------------------------------------------------------------------------------------------------------------
Hatfield Reynolds Electric 945 West Deer Valley Corporation Arizona 86-0565738 Hatfield Reynolds
Company Road, Electric
Suite 1
Phoenix, Arizona 85027
------------------------------------------------------------------------------------------------------------------------------------
Haymaker Electric, Ltd. 2928 6th Avenue South Limited Alabama 63-1080688 None
Birmingham, Alabama Partnership
35233-2902
------------------------------------------------------------------------------------------------------------------------------------
Houston-Stafford Electrical 10203 Mula Circle Limited Texas 52-2095983 Houston Stafford
Contractors LP Stafford, Texas 77477 Partnership Electric
HSE Electrical
Contractors
HSE Alarm
Systems
HSE Special
Systems
Austin-Stafford
Electric
Copious
Technologies
HSE Electrical
Services
------------------------------------------------------------------------------------------------------------------------------------
|
------------------------------------------------------------------------------------------------------------------------------------
IES Houston Resources, Inc. 6510 Bourgeouis Road Corporation Delaware 76-0214796 Gray Electrick
Houston, Texas 77066
IES Multifamily
Resources
J.W. Gray Electrical
Contractors, LP
Pollock Summit
Electric LP
Pollock Summit
Electric
SecurePro Alarm
Systems
Tesla Power and
Automation L.P.
------------------------------------------------------------------------------------------------------------------------------------
Kayton Electric, Inc. 120 South Lincoln Street Corporation Nebraska 47-0623159 None
Holdrege, Nebraska 68949
------------------------------------------------------------------------------------------------------------------------------------
Mark Henderson, 5322 Snapfinger Park Drive Corporation Delaware 76-0576830 Mark Henderson
Incorporated Decatur, Georgia 30035-
4040
------------------------------------------------------------------------------------------------------------------------------------
Menninga Electric, Inc. 905 West 8th Street Corporation Delaware 76-0575872 None
Pella, Iowa 50219
------------------------------------------------------------------------------------------------------------------------------------
Mid-States Electric 117 North Conalco Drive Corporation Delaware 62-1746956 None
Company, Inc. Jackson, Tennessee 38301
------------------------------------------------------------------------------------------------------------------------------------
Mills Electric LP 2525 Walnut Hill Lane Limited Texas 52-2095984 Mills Electrical
Dallas, Texas 75229 Partnership Contractors
------------------------------------------------------------------------------------------------------------------------------------
Mitchell Electric Company, 7138 North 110th Avenue Corporation Arizona 86-0141057 None
Inc. Glendale, Arizona 85307-2800
------------------------------------------------------------------------------------------------------------------------------------
Murray Electrical 2250 Aviation Drive Corporation Delaware 74-2913067 None
Contractors, Inc. Roseburg, Oregon 97470
------------------------------------------------------------------------------------------------------------------------------------
Neal Electric LP 1608 Royston Lane Limited Texas 76-0657784 None
Building 2 Partnership
Round Rock, Texas 78664
------------------------------------------------------------------------------------------------------------------------------------
Newcomb Electric Company, 2708 Shenandoah Avenue Corporation Delaware 76-0611653 None
Inc. Roanoke, Virginia 24017
------------------------------------------------------------------------------------------------------------------------------------
New Technology Electrical 20811 NW Cornell Road Corporation Delaware 74-2918933 New Tech Electric
Contractors, Inc. Suite 400
Hillsboro, Oregon 97124-5611 New Tech Services
Data Tech
Communications
Bachofner Electric-
Oregon
Bachofner Datacomm, Inc.
------------------------------------------------------------------------------------------------------------------------------------
|
------------------------------------------------------------------------------------------------------------------------------------
Pan American Electric, Inc. 1300 Fort Negley Boulevard Corporation Tennessee 62-0985675 None
Nashville, Tennessee 37203
------------------------------------------------------------------------------------------------------------------------------------
Paulin Electric Company, Inc. 8803 National Turnpike Corporation Delaware 74-2879154 Paulin Electric
Fairdale, Kentucky 40118
Woods Electric
Hanen Electric
T&O Controls
------------------------------------------------------------------------------------------------------------------------------------
PrimeNet, Inc. 220 Eighth Avenue NW Corporation Delaware 74-2902100 None
Glen Burnie, Maryland
21061
------------------------------------------------------------------------------------------------------------------------------------
Primo Electric Company 220 Eighth Avenue NW Corporation Delaware 74-2902099 B&D Electric, Inc.
Glen Burnie, Maryland
21061 PrimeNet
------------------------------------------------------------------------------------------------------------------------------------
Raines Electric LP 2525 Walnut Hill Lane Limited Texas 52-2132532 Raines Electrical
Dallas, Texas 75229 Partnership Contractors
------------------------------------------------------------------------------------------------------------------------------------
Riviera Electric, LLC 5001 South Zuni Limited Delaware 03-0507360 Riviera Electric
Littleton, Colorado 80120 Liability
Company
------------------------------------------------------------------------------------------------------------------------------------
Rodgers Electric Company, 1611 East Marine View Corporation Washington 91-1004905 None
Inc. Drive
Everett, Washington 98201
------------------------------------------------------------------------------------------------------------------------------------
Ron's Electric, Inc. 2017 Demers Avenue Corporation Delaware 74-2925506 IES-North Plains
Grand Forks, North Dakota
58201
------------------------------------------------------------------------------------------------------------------------------------
Thomas Popp & Company 10152 International Blvd. Corporation Ohio 31-1112666 None
Cincinnati, Ohio 45246
------------------------------------------------------------------------------------------------------------------------------------
Valentine Electrical, Inc. 104 Green Chimneys Court Corporation Delaware 74-2916344 Valentine
Ashland, Virginia 23005 Communications
------------------------------------------------------------------------------------------------------------------------------------
|
Exhibit 10.2
FOURTH AMENDMENT TO RESTATED UNDERWRITING, CONTINUING
INDEMNITY, AND SECURITY AGREEMENT
THIS FOURTH AMENDMENT TO RESTATED UNDERWRITING, CONTINUING INDEMNITY, AND SECURITY AGREEMENT ("this Fourth Amendment") is entered into as of the ___ day of October, 2007, by and among INTEGRATED ELECTRICAL SERVICES, INC., a Tennessee corporation, and certain of its Affiliates and Subsidiaries identified on Exhibit A, in their capacity as named Principal under any Bond (individually and collectively "Principal"); and INTEGRATED ELECTRICAL SERVICES, INC., a Delaware corporation, and certain of its Affiliates and Subsidiaries identified on Exhibit B (along with Principal, individually and collectively "Indemnitors"); and FEDERAL INSURANCE COMPANY, an Indiana corporation, its Affiliates and Subsidiaries and their respective co-sureties and reinsurers, and their respective successors and permitted assigns (individually and collectively "Surety"). All capitalized terms will have the meaning set out in Section 1.
W I T N E S S E T H:
WHEREAS, Indemnitors and Surety entered into that certain Restated Underwriting, Continuing Indemnity, and Security Agreement dated as of May 12, 2006, as amended by First Amendment to Restated Underwriting, Continuing Indemnity, and Security Agreement dated as of October 31, 2006, Rider to Add Principal/Indemnitor and Second Amendment to Restated Underwriting, Continuing Indemnity, and Security Agreement dated as of December 28, 2006, and Third Amendment to Restated Underwriting, Continuing Indemnity, and Security Agreement dated as of May 1, 2007 (collectively "the Agreement"), the terms of which are incorporated herein by this reference; and
WHEREAS, the parties desire to enter into this Fourth Amendment for the purpose of amending and modifying the Agreement, as set out in this Fourth Amendment.
NOW, THEREFORE, in consideration of the foregoing premises and other mutual considerations, the undersigned agree as follows:
1. Definitions. Unless otherwise specifically defined in this Fourth Amendment, all capitalized terms will have the meaning set out in the Agreement.
2. Bonds; Conditions Precedent to all Bonds. The reference to a One Hundred Million Dollars ($100,000,000) limitation on Bonded Backlog is deleted from paragraph (m) of Section 3 of the Agreement and replaced with a reference to One Hundred Fifty Million Dollars ($150,000,000).
3. Consent of Lender. Indemnitors will obtain the agreement of Bank of America, N.A. to amend the existing Intercreditor Agreement to delete any limitation on the aggregate penal amount of Bonds that may be issued per month from and after June 1, 2006.
4. Representations and Warranties of Indemnitors. Each Indemnitor represents and warrants to Surety that all of the representations and warranties made by Indemnitors in the Agreement (whether made as an Indemnitor or as a Principal) and in this Fourth Amendment are true and correct as applicable to such Principal or Indemnitor in all material respects, as of the date hereof (except to the extent its representations and warranties specifically relate to an earlier date).
5. Continuing Effect. Except as specifically set forth in this Fourth Amendment, the Agreement remains in full force and effect as originally written.
6. Counterparts. This Fourth Amendment may be executed by the parties independently in any number of counterparts, all of which together will constitute but one and the same instrument which is valid and effective as if all parties had executed the same counterpart.
IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amendment as of the day and year first above written.
SURETY:
FEDERAL INSURANCE COMPANY
By: _______________________________________
Its: ______________________________________
PRINCIPAL:
INTEGRATED ELECTRICAL SERVICES, INC.
By: _______________________________________
Curt Warnock, Senior Vice President
ALADDIN WARD ELECTRIC & AIR, INC.
AMBER ELECTRIC, INC.
ARC ELECTRIC, INCORPORATED
BACHOFNER ELECTRIC, INC.
BRYANT ELECTRIC COMPANY, INC.
COMMERCIAL ELECTRICAL CONTRACTORS, INC.
CROSS STATE ELECTRIC, INC.
DANIEL ELECTRICAL CONTRACTORS, INC.
DAVIS ELECTRICAL CONSTRUCTORS, INC.
ELECTRO-TECH, INC.
FEDERAL COMMUNICATIONS GROUP, INC.
HATFIELD REYNOLDS ELECTRIC COMPANY
IES HOUSTON RESOURCES, INC.
KAYTON ELECTRIC, INC.
MARK HENDERSON, INCORPORATED
MENNINGA ELECTRIC, INC.
MID-STATES ELECTRIC COMPANY, INC.
MITCHELL ELECTRIC COMPANY, INC.
MURRAY ELECTRICAL CONTRACTORS, INC.
NEWCOMB ELECTRIC COMPANY, INC.
NEW TECHNOLOGY ELECTRICAL CONTRACTORS,
INC. PAN AMERICAN
ELECTRIC, INC. PAULIN
ELECTRIC COMPANY, INC.
PRIMENET, INC. PRIMO
ELECTRIC COMPANY RODGERS
ELECTRIC COMPANY, INC. RON'S
ELECTRIC, INC. THOMAS POPP &
COMPANY VALENTINE
ELECTRICAL, INC.
By: __________________________________________
Curt Warnock
Vice President
BEXAR ELECTRIC COMPANY, LTD.
By: BW/BEC Inc., its general partner
By: ______________________________________
Curt Warnock
Vice President
HAYMAKER ELECTRIC, LTD.
By: General Partner, Inc., its general partner
By: ______________________________________
Curt Warnock
Vice President
HOUSTON-STAFFORD ELECTRICAL
CONTRACTORS LP
By: Houston-Stafford Management LLC, its
general partner
By: _______________________________________
Curt Warnock
Vice President
MILLS ELECTRIC LP
By: Mills Management LLC
By: _______________________________________
Curt Warnock
Vice President
NEAL ELECTRIC LP
By: BW/BEC Inc., its general partner
By: _______________________________________
Curt Warnock
Vice President
RAINES ELECTRIC LP
By: Raines Management LLC, its general partner
By: _______________________________________
Curt Warnock
Vice President
RIVIERA ELECTRIC, LLC
By: __________________________________________
Curt Warnock
Vice President
INDEMNITORS:
INTEGRATED ELECTRICAL SERVICES, INC.
By: _______________________
Curt Warnock, Senior Vice President
ALADDIN WARD ELECTRIC & AIR, INC.
AMBER ELECTRIC, INC.
ARC ELECTRIC, INCORPORATED
BACHOFNER ELECTRIC, INC.
BRYANT ELECTRIC COMPANY, INC.
COMMERCIAL ELECTRICAL CONTRACTORS, INC.
CROSS STATE ELECTRIC, INC.
DANIEL ELECTRICAL CONTRACTORS, INC.
DAVIS ELECTRICAL CONSTRUCTORS, INC.
ELECTRO-TECH, INC.
FEDERAL COMMUNICATIONS GROUP, INC.
HATFIELD REYNOLDS ELECTRIC COMPANY
IES HOUSTON RESOURCES, INC.
KAYTON ELECTRIC, INC.
MARK HENDERSON, INCORPORATED
MENNINGA ELECTRIC, INC.
MID-STATES ELECTRIC COMPANY, INC.
MITCHELL ELECTRIC COMPANY, INC.
MURRAY ELECTRICAL CONTRACTORS, INC.
NEWCOMB ELECTRIC COMPANY, INC.
NEW TECHNOLOGY ELECTRICAL CONTRACTORS,
INC.
PAN AMERICAN ELECTRIC, INC.
PAULIN ELECTRIC COMPANY, INC.
PRIMENET, INC.
PRIMO ELECTRIC COMPANY
RODGERS ELECTRIC COMPANY, INC.
RON'S ELECTRIC, INC.
THOMAS POPP & COMPANY
VALENTINE ELECTRICAL, INC.
By: __________________________________________
Curt Warnock
Vice President
BEXAR ELECTRIC COMPANY, LTD.
By: BW/BEC Inc., its general partner
By: ____________________________________
Curt Warnock
Vice President
HAYMAKER ELECTRIC, LTD.
By: General Partner, Inc., its general partner
By: ____________________________________
Curt Warnock
Vice President
HOUSTON-STAFFORD ELECTRICAL
CONTRACTORS LP
By: Houston-Stafford Management LLC, its
general partner
By: ____________________________________
Curt Warnock
Vice President
MILLS ELECTRIC LP
By: Mills Management LLC
By: ____________________________________
Curt Warnock
Vice President
NEAL ELECTRIC LP
By: BW/BEC Inc., its general partner
By: ____________________________________
Curt Warnock
Vice President
RAINES ELECTRIC LP
By: Raines Management LLC, its general partner
By: ____________________________________
Curt Warnock
Vice President
RIVIERA ELECTRIC, LLC
By: ____________________________________
Curt Warnock
Vice President