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EMPLOYMENT AGREEMENT

Employee Retention Agreement

EMPLOYMENT AGREEMENT | Document Parties: READY MIX, INC. | Las Vegas, NV | RMI Ready Mix, Inc You are currently viewing:
This Employee Retention Agreement involves

READY MIX, INC. | Las Vegas, NV | RMI Ready Mix, Inc

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Title: EMPLOYMENT AGREEMENT
Governing Law: Arizona     Date: 2/11/2005
Industry: Construction - Raw Materials     Sector: Capital Goods

EMPLOYMENT AGREEMENT, Parties: ready mix  inc. , las vegas  nv , rmi ready mix  inc
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Exhibit 10.6


EMPLOYMENT AGREEMENT

        THIS EMPLOYMENT AGREEMENT is entered into as of the 1st day of February 2005, by and between Ready Mix, Inc., a Nevada corporation (the "Employer"), and Robert A. De Ruiter (the "Employee").

        The Employer hereby employs the Employee on a full-time basis, and the Employee hereby accepts such full-time employment on the terms and conditions hereinafter set forth.

        1.     EMPLOYMENT.     Employee is employed as the Vice President of Ready Mix, Inc.("RMI"). Employee shall perform all duties as outlined herein and as may be assigned by the Employer and shall devote full time, attention and loyalty to the affairs of the Employer. The duties of the Employee shall specifically be:

        A)   Complete responsibility for the operational and financial aspects of RMI Ready Mix, Inc. ("Arizona Operations"), including profit and loss responsibility.

        B)    To select, hire and maintain qualified management personnel and to administer and review annually the performance of each person within his direct supervision and adjust compensation in accordance with the Employer's guidelines and subject to the prior approval of the President.

        C)    To oversee the selection, preparation and submission of materials sales quotes and proposals and to determine margins in order to maximize Employer's profitability.

        D)   To oversee the preparation of operating budgets for submission to the President for approval, to insure that cost controls are in place and utilized to accurately track production and delivery costs, to monitor customer schedules to insure timely and accurate delivery of products and to provide decision-making and problem-solving assistance in all aspects of the Arizona Operations. To oversee the negotiation, preparation and execution of all purchase agreements, credit policies and other agreements within the Arizona Operations.

        E)    To maintain and promote relationships with customers and owners with whom the Employer conducts business.

        F)    To insure that periodic reporting such as monthly production reports and other cost and revenue reports as required by management are prepared and submitted correctly and on a timely basis.

        G)   Prepares annual operating budgets and capital expenditure budgets and periodic forecasts as required.

        H)   Resolve complaints and/or claims relating to the Arizona Operations, or to provide assistance in preparing for and presenting the Employer's position in claims hearings.

        I)     To provide input and counsel to strategic and business plans for the Employer.

        J)     To assist in any other projects or duties as may be assigned by the Chief Executive Officer or President.

        2.     TERM.     Subject to the provisions of termination provided in paragraph 12, the initial term of this Agreement shall commence on February 1, 2005 and terminate on January 31, 2008. This Agreement may be extended by the mutual written agreement of the Employee and the Employer.

        3.     COMPENSATION.     Employee shall receive a base salary of One Hundred Ten Thousand dollars ($110,000) per year, payable in accordance with the regular payroll practices of Employer, and

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subject to applicable deductions of withholding taxes and other customary employment taxes. The Chief Executive Officer or the President shall review Employee's salary at a minimum annually and may adjust Employee's salary upward to recognize improvement, achievement or expansion of Employee's responsibilities subject to approval of the Board Compensation Committee.

        Employee shall participate in cash incentive plans as currently existing or as amended or adopted in the future by the Compensation Committee of the Board of Directors. Cash bonus plans are subject to annual review and/or change as recommended by the Compensation Committee and approved by the Board of Directors.

        4.     OPTIONS TO ACQUIRE COMMON STOCK.     Employee is eligible to participate in the Ready Mix, Inc. 2005 Equity Incentive Plan. Future grants of stock options shall be subject to the discretion of the board of directors of the Employer.

        5.     EMPLOYEE BENEFITS.     Employer shall provide to Employee, and to the Employee's dependents, a comprehensive major medical, health, and dental insurance program comparable to the programs normally provided by other employers in the same industry and marketplace, and the Employer shall pay the cost of the Employee's portion of the premium. Insurance coverage may be subject to pre-existing condition limitations. Should, at any time, the Employee opt to maintain a personal major medical and health insurance policy for himself and for his dependents and not participate in the Employer's group plan, then Employer shall reimburse Employee the lesser of the amount Employee pays for said personal policy, as evidenced by adequate documentation, or what Employer would otherwise be paying were Employee participating in the Employer's group plan.

        At Employer's cost at no greater than reasonable market rates, and subject to verification of insurability, Employer will maintain a life insurance policy covering Employee, with at least $500,000 of death benefits being payable, in a manner that is free of income tax, to Employee's estate or other beneficiaries designated by Employee.

        Employer agrees to provide Employee with an automobile for business-related use. In addition to the cost of the vehicle itself, Employer shall pay, directly or by reimbursement to Employee, for all maintenance, fuel, repairs, insurance, operating and other costs incidental thereto.

        Employer shall pay for, or reimburse Employee for, dues for his membership in industry related associations perceived as beneficial to Employer and as approved by the Chief Executive Officer or the President.

        So long as it is within the guidelines of the respective plan, Employee shall be given the opportunity to participate in the Employer's 401(k) plan.

        6.     HOLIDAYS AND VACATION.     

        A)   Employee shall be paid for the following seven (7) holidays: New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and the day after Thanksgiving, and Christmas Day and all other holidays for Employees of the Employer as approved by the Chief Executive Officer or Board of Directors of the Employer.

        B)    Employee is entitled to one week vacation after six months of continuous employment, two weeks vacation after one year of continuous employment and three weeks vacation after the fifth year of continuous employment. In accordance with the Employer's vacation policy, unused vacation time does not carry over from year to year, has no monetary value and will not be paid as compensation in lieu of vacation. All other conditions with respect to vacations shall be consistent with the Employer's vacation and holiday policy.

        7.     RESPONSIBILITIES OF EMPLOYEE.     The Employee shall devote such reasonable time as is necessary or is deemed reasonably necessary by the Employer to carry out all required duties and will

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devote full time to the Employer during normal business hours. The Employee shall at all times faithfully, with diligence and to the Employee's best good faith ability, experience and talents, perform all the duties that may be required pursuant to the express terms hereof to the reasonable satisfaction of the Employer, in accordance with customary professional standards.

        8.     WORKING FACILITIES.     The Employee shall be furnished with all facilities and services suitable to Employee's position and adequate for the performance of Employee's duties.

        9.     EXPENSES.     The


 
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