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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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
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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
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Curt L. Warnock
Senior Vice President and General Counsel
Date: October 1, 2007
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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
3