E XHIBIT 10.4
THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of the 28 th day of August, 2006,
between Willbros USA, Inc., a Delaware corporation (the “Corporation”), and Van A. Welch (the “Executive”).
WHEREAS, the Executive has substantial financial and management experience in the engineering and construction
industry in both domestic and international environments, and
WHEREAS, the Executive has agreed to forego other business opportunities, to accept permanent and full-time
employment with the Corporation and Willbros Group, Inc., a Republic of Panama corporation (“WGI”), as Senior Vice President
and Chief Financial Officer of both the Corporation and WGI;
NOW THEREFORE, in consideration of the mutual covenants and representations contained herein, and the mutual
benefits derived herefrom, the parties agree as follows:
FULL-TIME EMPLOYMENT OF EXECUTIVE
1.1 DUTIES AND STATUS.
(a) The Corporation hereby engages the Executive as a full-time executive employee for the period specified in
Section 4.1 below (the “Employment Period”), and the Executive accepts such employment, on the terms and conditions
set forth in this Agreement.
(b) The Executive shall serve as Senior Vice President and Chief Financial Officer of the Corporation and WGI. Until
January 1, 2007, he shall report to the President, and thereafter to the Chief Executive Officer, of the Corporation and WGI,
but to no other person or body.
(c) In addition to the Executive’s performance of his day to day executive and operating responsibilities referred to in
Section 1.1(b) above, the Executive shall work diligently and closely with the Chief Executive Officer during the
Employment Period to further develop, refine, and implement WGI’s strategic plan consistent with the annual budget(s)
and other objectives approved by the Board of Directors of WGI (the “Board”).
(d) Throughout the Employment Period, the Executive shall devote substantially all his