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| R      | ANNUAL REPORT PURSUANT TO SECTION 13OR 15(d)OF THE SECURITIES EXCHANGE ACT OF1934                                                                                                                                                                                                                                                                         |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                           |
|   | For the fiscal year ended August 31,2012                                                                                                                                                                                                                                                                                                                  |
|   |                                                                                                                                                                                                                                                                                                                                                           |
| or     |
|   |
| £ | TRANSITION REPORT PURSUANT TOSECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934                                                                                                                                                                                                                                                                    |
|   |                                                                                                                                                                                                                                                                                                                                                           |
|   | For the transition period from                               to                       |

| LOUISIANA                                                     | 72-1106167                          |
|---------------------------------------------------------------|-------------------------------------|
| (State or other jurisdiction ofincorporation or organization) | (I.R.S. EmployerIdentification No.) |

| Title of Each Class                    | Name of Each Exchange on Which Registered |
|----------------------------------------|-------------------------------------------|
| Common Stock — no par value | New York Stock Exchange                   |

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|   | Large accelerated filer R                                                        |                        | Accelerated filer o |
|--------|---------------------------------------------------------------------------------------|-----------------------------|---------------------|
|   |                                                                                  |                        |                |
|   | Non-accelerated filer o  (Do not check if a smaller reporting company) | Smaller reporting company o |

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| PART III      |   |                                                                                           |   |   |
|---------------|--------|------------------------------------------------------------------------------------------------|--------|--------|
|          |   |                                                                                           |   |   |
| ITEM 10.      |   | DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE                                         |   | 1      |
|          |   |                                                                                           |   |   |
| ITEM 11.      |   | EXECUTIVE COMPENSATION                                                                         |   | 5      |
|          |   |                                                                                           |   |   |
| ITEM 12.      |   | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS |   | 50     |
|          |   |                                                                                           |   |   |
| ITEM 13.      |   | CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE                      |   | 53     |
|          |   |                                                                                           |   |   |
| ITEM 14.      |   | PRINCIPAL ACCOUNTING FEES AND SERVICES                                                         |   | 54     |
|          |   |                                                                                           |   |   |
|          |   |                                                                                           |   |   |
| PART IV       |   |                                                                                           |   |   |
|          |   |                                                                                           |   |   |
| ITEM 15.      |   | EXHIBITS, FINANCIAL STATEMENT SCHEDULES                                                        |   | 56     |
|          |   |                                                                                           |   |   |
|          |   |                                                                                           |   |   |
| SIGNATURE     |   | 60                                                                                             |
|          |   |                                                                                           |   |   |
|          |   |                                                                                           |   |   |
| EXHIBIT INDEX |   |                                                                                           |

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| J.M. BERNHARD, JR.Age: 58Director Since: 1987 | Board Committees:• Executive | Company Positions:• Chairman of the Board, Chief Executive Officer and President |
|-----------------------------------------------|------------------------------------|----------------------------------------------------------------------------------------|

| JAMES F. BARKERAge: 65Director Since: January 2004 | Board Committees:• Audit• Compensation | Private Directorships:• President, Clemson University |
|----------------------------------------------------|----------------------------------------------------|-------------------------------------------------------------|

| THOS. E. CAPPSAge: 77Director Since: July 2007 | Board Committees:• Audit | Public Directorships:• Amerigroup Corp.Private Directorships:•Associated Electric & Gas Insurance Services Ltd. |
|------------------------------------------------|--------------------------------|---------------------------------------------------------------------------------------------------------------------------------|

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| DANIEL A. HOFFLERAge: 64Director Since: January 2006 | Board Committees:• Compensation (Chair)• Nominating and Corporate Governance | Private Directorships:• Armada Hoffler |
|------------------------------------------------------|------------------------------------------------------------------------------------------|----------------------------------------------|

| DAVID W. HOYLEAge: 73Director Since:  January 1995 | Board Committees:• Audit• Nominating and Corporate Governance (Chair)• Executive | Public Directorships:• Citizens South Banking CorporationGovernment Positions:• Secretary of Revenue, North Carolina |
|--------------------------------------------------------------|----------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|

| MICHAEL J. MANCUSOAge: 70Director Since: August 2006 | Board Committees:• Audit (Chair)• Executive | Public Directorships:• SPX CorporationFormer Public Directorships Held During the Past Five Years:• LSI Logic Corporation• CACI International Inc. |
|------------------------------------------------------|---------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ALBERT D. McALISTERAge: 61Director Since: April 1990 | Board Committees:• Compensation• Nominating and Corporate Governance• Executive | Private Directorships:• McAlister & McAlister• President’s Advisory Board, Clemson University |
|------------------------------------------------------|---------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------|

| STEPHEN R. TRITCHAge: 63Director Since: April 2009 | Board Committees:• Nominating and Corporate Governance | Public Directorships:• Koppers Holdings, Inc.Private Directorships:• PaR Systems• Board of Trustees, University of Pittsburgh (Chair)• Board of Trustees, Senator John Heinz History  Center, Pittsburgh, PA• UPMC Health System |
|----------------------------------------------------|--------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| J.M. BERNHARD, JR. Age: 58Shaw Employee Since: 1987 | Company Positions: • Chairman of the Board of Directors• President and Chief Executive Officer |   |
|-----------------------------------------------------|------------------------------------------------------------------------------------------------------------|--------|

| GEORGE P. BEVAN            | Company Position:                                                     |   |
|------------------------------------------------|-----------------------------------------------------------------------|--------|
| Age:  65                             | • President, Environmental & Infrastructure (E&I) Group |
| Shaw Employee Since:  September 1994 |                                                                  |   |

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| DAVID L. CHAPMAN, SR.                      | Company Position:                                                  |   |
|--------------------------------------------|--------------------------------------------------------------------|--------|
| Age:  66                         | • President, Fabrication & Manufacturing (F&M) Group |
| Shaw Employee Since:  April 2002 |                                                               |   |

| JOHN DONOFRIO                                | Company Position:                                                         |   |
|----------------------------------------------|---------------------------------------------------------------------------|--------|
| Age:  51                           | • Executive Vice President, General Counsel and Corporate Secretary |
| Shaw Employee Since:  October 2009 |                                                                      |   |

| BRIAN K. FERRAIOLI         | Company Position:                                            |   |
|-------------------------------------------|--------------------------------------------------------------|--------|
| Age:  57                        | • Executive Vice President and Chief Financial Officer |
| Shaw Employee Since:  July 2007 |                                                         |   |

| ELI SMITH                           | Company Position:              |   |
|------------------------------------------|--------------------------------|--------|
| Age:  60                       | • President, Power Group |
| Shaw Employee Since:  May 2009 |                           |   |

| JAMES C. WILEMS                      | Company Position:                                           |   |
|-------------------------------------------|-------------------------------------------------------------|--------|
| Age:  45                        | • Interim Vice President and Chief Accounting Officer |
| Shaw Employee Since:  July 2011 |                                                        |   |

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|   | · | J.M. Bernhard, Jr., Chairman of the Board of Directors, President and Chief Executive Officer; |
|--------|--------|------------------------------------------------------------------------------------------------|

|   | · | Brian K. Ferraioli, Executive Vice President and Chief Financial Officer; |
|--------|--------|---------------------------------------------------------------------------|

|   | · | David L. Chapman, Sr., President, Fabrication & Manufacturing Group; |
|--------|--------|--------------------------------------------------------------------------|

|   | · | George P. Bevan, President, Environmental & Infrastructure Group; and |
|--------|--------|---------------------------------------------------------------------------|

|   | · | Eli Smith, President, Power Group. |
|--------|--------|------------------------------------|

----

----

|   | •  | Strong financial performance and creation of shareholder value exemplified by stock price increasing 81%, from $23.31 to $42.08 over fiscal year 2012. |
|--------|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | •  | Between 57% and 65% of our NEO’s total target compensation is performance based. |
|--------|---------------|----------------------------------------------------------------------------------------|

|   | •  | Annual cash incentives reflect pay-for-results philosophy, as evidenced by our Chief Executive Officer payout levels over the past three fiscal years at approximately 18% of target for fiscal year 2010, 0% of target for fiscal year 2011 and 200% of target for fiscal year 2012. |
|--------|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | •  | To further strengthen our pay for results philosophy, we implemented new performance-based long-term incentive awards based on how well our stock performs compared to our peers, more specifically, relative total shareholder return (TSR), which for fiscal year 2012 earned maximum performance levels of 200%. |
|--------|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | •  | Elimination of tax gross-up provisions from Chief Executive Officer and one other NEO’s employment agreements during the past two years. |
|--------|---------------|------------------------------------------------------------------------------------------------------------------------------------------------|

|   | •  | Elimination of all guaranteed annual cash incentive payments for NEOs. |
|--------|---------------|------------------------------------------------------------------------|

|   | •  | Compensation best practices include: a three year minimum vesting requirement, minimum stock ownership guidelines, limited Company-paid personal use of corporate aircraft (limited circumstances discussed below), compliance with a maximum share issuance burn rate commitment and a management incentive clawback policy |
|--------|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Target Compensation. Target compensation levels are set higher than average, commensurate with the Company’s setting of aggressive Management Incentive Program (MIP) target goals and relative TSR goals in order to incentivize executives in ways that are in alignment with shareholders, and which also attracts and retains high-caliber, industry-leading executives. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Actual Compensation. Actual compensation levels are commensurate with actual Company and individual performance. In years where the Company’s performance failed to achieve targets, actual incentive compensation was reduced or eliminated. In fiscal year 2012, the Company’s performance exceeded targets, so actual compensation increased. The Company’s strong fiscal year 2012 earnings before interest expense, income taxes, depreciation and amortization (EBITDA) performance (increased 1,773% from fiscal year 2011, excluding the results from our investment in the Westinghouse segment) and the strong stock price appreciation (up 81% from August 31, 2011), resulted in increased levels of actual compensation for all of our NEOs (annual cash and long-term incentive compensation), reflecting our pay-for-results philosophy, at levels ranging from 100-200% of respective targets. For additional disclosure related to our fiscal year 2012 EBITDA, including a reconciliation of our Generally Accepted Accounting Principles (GAAP) results to our non-GAAP results, please see “EXECUTIVE COMPENSATION – Non-GAAP Financial Measure” below. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | Above Target Annual Cash Incentive Compensation Earned. |
|--------|--------|---------------------------------------------------------|

|   | – | Successfully completed the divestiture of substantially all of the business within the Energy & Chemicals (E&C) business unit which resulted in cash proceeds of $290 million; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | – | exercised the put options of our subsidiary NEH to sell its investment in the Westinghouse Group to Toshiba; |
|--------|---------|--------------------------------------------------------------------------------------------------------------|

|   | – | increased amounts of construction activities related to our Power business unit’s EPC contracts on four nuclear power reactors in the United States after our clients obtained the combined operating licenses (COLs) from the NRC; |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | – | generated record earnings for third straight year within our Plant Service’s business unit, which continues to perform at what we believe is an industry leading level; |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | – | expanded and improved profitability for our pipe fabrication facilities within our F&M business unit; |
|--------|---------|-----------------------------------------------------------------------------------------------------------|

|   | – | executed a share buyback program via a $150 million Dutch auction tender offer; and |
|--------|---------|-------------------------------------------------------------------------------------|

|   | – | developed a company-wide process improvement initiative. |
|--------|---------|----------------------------------------------------------|

|   | · | Long-Term Incentive Compensation Tied to Stock Performance. |
|--------|--------|-------------------------------------------------------------|

|   | – | Actual relative TSR performance of 72.63% as compared to median TSR of PCU Peer Group far exceeded the maximum goal of 25%; therefore, maximum payout of 200% was earned for the first 25% of target PCUs awarded to our executives in fiscal year 2012. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Compensation Best Practice                                                                                                                              | Fiscal Year Implemented |
|---------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------|
| Three-Year Minimum Vesting Requirements for LTI awards                                                                                                  | 2010                    |
| Minimum Stock Ownership Guidelines as a Multiple of Base Salary (6x Chief Executive Officer, 2.5x and 1.5x for Other Executive Officers)                | 2010                    |
| No Future Guaranteed Management Incentive Program (MIP) Payments for Executive Officers                                                                 | 2010                    |
| Limited Company-Paid Personal Use of Corporate Aircraft (exceptions for employee relocation and Chief Executive Officer safety only)                    | 2010                    |
| No New Excise Tax Gross-Up Provisions                                                                                                                   | 2010                    |
| Maximum Share Issuance Burn Rate Commitment (1.95% per year for fiscal years 2011-2013)                                                                 | 2011                    |
| Addition of Management Incentive Clawback Policy                                                                                                        | 2011                    |
| Amendment of Mr. Chapman’s Employment Agreement (Removed Excise Tax Gross-Up and Guaranteed MIP)                                                  | 2011                    |
| Amendment of Chief Executive Officer’s Employment Agreement (Eliminated Tax Gross-Up and Clarified Terms of the Deferred Compensation/SERP Award) |  2012              |
| Implementation of PCUs, the Payout of Which Is Based on the Performance Measure of TSR and Elimination of Stock Options                                 | 2012                    |

|   | · | Eliminated Tax Gross-Up in Chief Executive Officer’s Employment Agreement. The Company removed a tax gross-up provision which would have been applicable if any payment or benefit in connection with a change in control would have constituted an “excess parachute payment” under 280G of the Internal Revenue Code,  and replaced it with a “net best” provision. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Clarification of Chief Executive Officer’s Deferred Compensation Award. The Company converted a $15 million, plus accumulated interest, deferred compensation award that was owed to Mr. Bernhard to a Supplemental Executive Retirement Plan (SERP) to make it clear that this award is a retirement benefit. There were no changes in the economics or timing of payments as part of this conversion; however, the conversion to a SERP is fully compliant with Section 409A of the Internal Revenue Code and eliminates prior misconceptions associated with the language in his employment agreement regarding the deferred compensation award and non-compete provision. Mr. Bernhard’s SERP is near the market median for company-provided retirement benefits for long-service chief executive officers, including founders, of similarly-sized companies. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Maximize shareholder value by recruiting, incentivizing and retaining top executive leadership with the skills to enable the Company to achieve our long- and short-term business goals, thus aligning the interests of our executives with those of our shareholders; and |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Provide a balanced mix of base salary, annual cash incentives and long-term equity incentives, emphasizing performance-based compensation that generally targets to provide actual compensation that is consistent with our performance and is between the 50th and 75th percentile of our Market Peer Group (as defined below),. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | Base Salary. Base salary provides a competitive and stable component of income to our executives, as a majority of their total compensation is variable from year to year. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Annual Cash Incentive Compensation under the MIP. This program provides competitively based short-term incentive opportunities for our executives to earn annual cash awards for achieving financial, operational and strategic benchmarks that are established by the Compensation Committee each fiscal year. See “Incentive Compensation and Other Programs” for additional details regarding goal setting and determination of MIP awards. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Long-Term Incentive Compensation.  Long-term incentive compensation ensures that our executives’ interests are aligned with those of our shareholders. During fiscal year 2012, the Company further strengthened the “pay-for-results” component of our long-term incentive compensation program by implementing PCUs, the payout of which is based on TSR as the performance measure. For further discussion, see “Incentive Compensation and Other Programs” below. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Benefits and Other Compensation. Our benefit and other compensation programs comprise a minimal portion of our NEOs total annual compensation and all programs offered, including perquisites, are in line with standard market practices. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Analysis of compensation elements: base salary, target and actual annual cash incentive compensation, long-term incentive compensation and total target and actual compensation; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Comparative compensation analysis for each compensation element showing actual, target and market amounts for the most recently completed fiscal year and target recommendations compared to market for the newly began fiscal year; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Competitive market information for the prior and current fiscal year are provided at the 50th and 75th percentiles for our Market Peer Group (as defined below); |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | A summary of the annual performance of the executive, which were assessed and rated on a standard scale; and |
|--------|--------|--------------------------------------------------------------------------------------------------------------|

|   | · | A summary of any one-time compensation recommended for approval, if applicable. |
|--------|--------|---------------------------------------------------------------------------------|

|   | · | Annual cash incentive awards, which includes: |
|--------|--------|-----------------------------------------------|

|   | – | Achievement of the prior fiscal year’s financial and operational performance goals; |
|--------|---------|-------------------------------------------------------------------------------------------|

|   | – | Pool of MIP funds for business units; |
|--------|---------|---------------------------------------|

|   | – | Total awards under MIP (including individual amounts for our NEOs as discussed above); and |
|--------|---------|--------------------------------------------------------------------------------------------|

|   | – | Financial and operational performance goals for the new fiscal year that will serve as the benchmarks for the annual cash incentive compensation under MIP. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | Long-term incentive awards, which includes: |
|--------|--------|---------------------------------------------|

|   | – | Appropriate mix of long-term incentive components to ensure achievement of our compensation objectives; |
|--------|---------|---------------------------------------------------------------------------------------------------------|

|   | – | Achievement of performance measure under PCU awards, and the resulting earned PCU awards; |
|--------|---------|-------------------------------------------------------------------------------------------|

|   | – | Establishment of performance measure and peer group for the new fiscal year’s target PCU awards; and |
|--------|---------|------------------------------------------------------------------------------------------------------------|

|   | – | Ensuring compliance with our available share pool and annual burn rate commitment. |
|--------|---------|------------------------------------------------------------------------------------|

----

| Market Peer Group     |                   |
|-----------------------|------------------------|
| AMETEK                | Jacobs Engineering     |
| Ball                  | KBR                    |
| Bemis                 | MeadWestvaco           |
| Bovis Lend Lease      | Owens Corning          |
| Bucyrus International | Owens-Illinois         |
| Cameron International | Parket Hannifin        |
| Caterpillar           | Parsons                |
| Cooper Industries     | Regal-Benoit           |
| Corning               | Rockwell International |
| Eaton                 | Sealed Air             |
| Fluor                 | Snap-on                |
| Fortune Brands        | Sonoco Products        |
| Greif                 | SPX                    |
| Grupo Ferrovial       | Terex                  |
| HD Supply             | Textron                |
| Holcim                | Thomas & Betts     |
| Illinois Tool Works   | 3M                     |
| Ingersoll-Rand        | Timken                 |
| ITT – Corporate | USG                    |

----

|   | · | Since 2005, under his leadership and guidance through strategic acquisitions and business ventures, our revenues increased from $3.3 billion to $6.0 billion and we have expanded our workforce from 19,000 to 25,000 globally. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Over the past five years, Mr. Bernhard has strengthened our leadership team and profitability by promoting and bringing in top talent to complete our corporate executive management team with individuals who have deep industry experience and are visionary leaders in their respective areas of responsibility. Mr. Bernhard equally focused on operations by compiling a team of presidents for each of our business units, again through promoting and or hiring top talent from our competitors, whose main focus is best in class project execution and increasing profitability. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | In fiscal year 2012, Mr. Bernhard assumed operational leadership after the retirement of former our Chief Operating Officer, and successfully negotiated the agreement to be acquired by CB&I at a premium of 72% over the closing price for the last trading day prior to announcement (for further discussion please see our current report on Form 8-K filed with the SEC on July 30, 2012). He also led several key strategic initiatives, such as: (i) initiated the process for exercising the “put” options of our subsidiary NEH to sell its investment in the Westinghouse Group back to Toshiba; (ii) negotiated and oversaw the divestiture of substantially all of the assets of the E&C business unit for approximately $290 million in cash proceeds; (iii) devised and oversaw the execution of a share buyback program via a $150 million Dutch auction tender offer; (iv) drove the Company to meet or exceed all key  fiscal year 2012 financial targets; (v) served as primary thought leader for resolving complex legal settlements; and (vi) developed and kicked off company-wide process improvement initiative. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Mr. Bernhard’s base salary and annual incentive targets remained unchanged from the prior fiscal year, but his long term incentive targets increased due to the implementation of the new performance based LTI awards (PCUs), for which he received a one-time supplemental transition grant for a target of $2,350,000 in addition to normal annual LTI target levels. The core PCU program is designed to be a three-year performance period with earned awards paid at the end of the three years. To address the negative financial impact to the executive from our transition to PCUs from previous stock option awards, which incrementally vested over a four-year service period, three Relative TSR performance periods began in fiscal year 2012, which include the one-time supplemental transition award. Mr. Bernhard’s target total compensation for fiscal year 2012 was $12,350,000, which increased from his fiscal year 2011 target of $10,000,000. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | For fiscal year 2012, Mr. Bernhard’s performance based target compensation totaled $8,000,000 (or 65%) of total target compensation. As discussed above, Mr. Bernhard provided outstanding operational and strategic leadership throughout fiscal year 2012, which resulted in strong financial performance, especially as compared to prior years, and record stock performance for fiscal year 2012. As a result, the Compensation Committee approved an annual cash incentive payout at 200% of target for Mr. Bernhard and the earned maximum payout level of 200% for the first 25% of the PCU award per the terms of the award. See “INCENTIVE COMPENSATION AND OTHER PROGRAMS – Annual Cash Incentive Compensation” and “-Long-Term Incentive Compensation” below. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Elements of Compensation                                        |   | Fiscal Year 2012 Target Compensation |       |   | Fiscal Year 2012 Actual Compensation |   | Actual Market Position (1) |
|-----------------------------------------------------------------|--------|--------------------------------------|------------|--------|--------------------------------------|--------|----------------------------|
| Annual Base Salary                                              |   | $                                    | 2,000,000  |   |                                 | $      | 2,000,000                  |   | Above 75th |
| Incentive Compensation (vested in 2012):                        |   |                                 |       |   |                                 |   |                       |   |   |
| Annual Cash Incentive Compensation                              |   | $                                    | 3,300,000  |   |                                 | $      | 6,600,000                  | (2) | Above 75th |
| Performance Cash Units(FY2012 Performance Period)               |   | $                                    | 1,175,000  |   |                                 | $      | 2,350,000                  | (2) | Below 50th |
| Compensation Subtotal                                           |   | $                                    | 6,475,000  |   |                                 | $      | 10,950,000                 |   |   |
| Incentive Compensation (future vesting):                        |   |                                 |       |   |                                 |   |                       |   |   |
| Restricted Stock Units(Vestings FY2013, FY2014, and FY2015)     |   | $                                    | 2,350,000  | (3)    |                                 | $      | 2,350,000                  | (3) | Below 50th |
| Performance Cash Units(FY2013 & FY2014 Performance Periods) |   | $                                    | 3,525,000  | (4)    |                                 | $      | 3,525,000                  | (4) | Below 50th |
| Total Compensation, Excluding Other Compensation (5)            |   | $                                    | 12,350,000 |   |                                 | $      | 16,825,000                 |   | Above 75th |

|   | (1) | Market Position of Market Peer Group for Chief Executive Officer for companies with median revenues of $6.4 billion; compensation components are shown on the chart to indicate placement against market position for Fiscal Year 2012 Actual Compensation. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | For further discussion of annual cash incentive compensation and earned PCU compensation, please see “INCENTIVE COMPENSATION AND OTHER PROGRAMS” below. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Amount represents the value of equity at the time of award by the Compensation Committee, which have a three-year service based vesting of 33% per year. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | Two additional PCU measurement periods began in fiscal year 2012 that are shown at target levels until the end of the performance period ends and earned PCUs are calculated. The first with a $1,175,000 target and a 2-year measurement period ending on August 31, 2013 and the second with a $2,350,000 target and a 3-year measurement period ending on August 31, 2014. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | Total compensation excludes all other compensation reflected in the “Summary Compensation Table for the Fiscal Years Ended August 31, 2012, 2011 and 2010” below. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   |   · | Mr. Ferraioli joined us in July 2007 as our Executive Vice President, Finance, and served in that position until October 2007, when he was appointed to his current position. Over the last five years, Mr. Ferraioli has made numerous strategic personnel and policy changes within our organization to enable our continued growth and success. More recently, under his leadership: (i) we have amended our credit facility for lender commitments up to $1.45 billion; (ii) we have increased our restricted and unrestricted cash and cash equivalents, escrowed cash and restricted and unrestricted short-term investment balance from $0.9 billion at August 31, 2008 to $1.4 billion at August 31, 2012, and repeatedly generated strong operating cash flows; and (iii) Standards & Poor’s increased the Company’s credit rating to an investment grade of BBB- with a stable outlook. |
|--------|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   · | In fiscal year 2012, Mr. Ferraioli provided proactive financial leadership at both corporate and business unit level ensuring the Company met or exceeded all key financial targets. He served as key advisor to our Chief Executive Officer on numerous strategic business decisions, which culminated in the agreement to be acquired by CB&I at a premium of 72% over the closing price for last trading day prior to announcement (for further discussion please see our current report on Form 8-K filed with the SEC on July 30, 2012), such as: (i) exercised the put options of our subsidiary NEH to sell its investment in the Westinghouse Group back to Toshiba; (ii) successfully completed the divestiture of substantially all of the assets of the E&C business unit for approximately $290 million in cash proceeds; (iii) executed a share buyback program via a $150 million Dutch auction tender offer; and (iv) resolved complex legal settlements. Mr. Ferraioli continued to strengthen our financial and accounting function through the following actions in fiscal year 2012: (i) ensured shareholders and investors understood the numerous complex transactions; (ii) successfully recruited a Chief Accounting Officer with high potential talent and a strong public accounting background; and (iii) supported a significant investment and upgrade in our enterprise resource planning (ERP) system. |
|--------|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   · | Mr. Ferraioli’s base salary and annual incentive targets remained unchanged from the prior fiscal year, but his long term incentive targets increased due to the implementation of the new performance based LTI awards (PCUs), for which he received a one-time supplemental transition grant for a target of $700,000 in addition to normal annual LTI target levels. The core PCU program is designed to be a three-year performance period with earned awards paid at the end of the three years. To address the negative financial impact to the executive from our transition to PCUs from previous stock option awards, which incrementally vested over a four-year service period, three Relative TSR performance periods began in fiscal year 2012, which include the one-time supplemental transition award. Mr. Ferraioli’s target total compensation for fiscal year 2012 was $3,550,000, which increased from his fiscal year 2011 target of $2,850,000. |
|--------|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   · | For fiscal year 2012, Mr. Ferraioli’s performance based target compensation totaled $2,200,000 (or 62%) of total target compensation. As discussed above Mr. Ferraioli provided outstanding operational and strategic leadership throughout fiscal year 2012 which resulted in strong financial performance, especially as compared to prior years, and record stock performance for fiscal year 2012. As a result, the Compensation Committee approved an annual cash incentive payout at 200% of target for Mr. Ferraioli and the earned maximum payout level of 200% for the first 25% of the PCU award per the terms of the award. See “INCENTIVE COMPENSATION AND OTHER PROGRAMS – Annual Cash Incentive Compensation” and “-Long-Term Incentive Compensation” below. |
|--------|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   · | Additionally, in light of the significant strategic initiatives underway, in October 2011, the Chief Executive Officer recommended, and the Compensation Committee approved, a $1 million non-qualified deferred compensation award, with a two-year cliff vesting period, to be given to Mr. Ferraioli in order to better ensure his retention with the Company. |
|--------|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Elements of Compensation                                        |   | Fiscal Year 2012 Target Compensation |      |   | Fiscal Year 2012 Actual Compensation |   | Actual Market Position (1) |
|-----------------------------------------------------------------|--------|--------------------------------------|-----------|--------|--------------------------------------|--------|----------------------------|
| Annual Base Salary                                              |   | $                                    | 650,000   |   |                                 | $      | 650,000                    |   | Above 75th |
| Incentive Compensation (vested in 2012):                        |   |                                 |      |   |                                 |   |                       |   |   |
| Annual Cash Incentive Compensation                              |   | $                                    | 800,000   |   |                                 | $      | 1,600,000                  | (2) | Above 75th |
| Performance Cash Units(FY2012 Performance Period)               |   | $                                    | 350,000   |   |                                 | $      | 700,000                    | (2) |  50th to 75th |
| Compensation Subtotal                                           |   | $                                    | 1,800,000 |   |                                 | $      | 2,950,000                  |   |   |
| Incentive Compensation (future vesting):                        |   |                                 |      |   |                                 |   |                       |   |   |
| Restricted Stock Units(Vestings FY2013, FY2014, and FY2015)     |   | $                                    | 700,000   | (3)    |                                 | $      | 700,000                    | (3) | 50th to 75th |
| Performance Cash Units(FY2013 & FY2014 Performance Periods) |   | $                                    | 1,050,000 | (4)    |                                 | $      | 1,050,000                  | (4) | 50th to 75th |
| Total Compensation, Excluding Other Compensation (5)            |   | $                                    | 3,550,000 |   |                                 | $      | 4,700,000                  |   | Above 75th |

|   | (1) | Market Position of Market Peer Group for Chief Financial Officer for companies with median revenues of $6.4 billion; compensation components are shown on the chart to indicate placement against market position for Fiscal Year 2012 Actual Compensation. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | For further discussion of annual cash incentive compensation and earned PCU compensation, please see “INCENTIVE COMPENSATION AND OTHER PROGRAMS” below. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Amount represents the value of equity at the time of award by the Compensation Committee, which have a three-year service based vesting of 33% per year. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | Two additional PCU measurement periods began in fiscal year 2012 that are shown at target levels until the end of the performance period ends and earned PCUs are calculated. The first with a $350,000 target and a 2-year measurement period ending on August 31, 2013 and the second with a $700,000 target and a 3-year measurement period ending on August 31, 2014. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | Total compensation excludes all other compensation reflected in the “Summary Compensation Table for the Fiscal Years Ended August 31, 2012, 2011 and 2010” below. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   · | Mr. Chapman joined us in April 2002 as President of our Fabrication & Manufacturing Division, which is now known as the Fabrication & Manufacturing Group. Under Mr. Chapman’s leadership for the past decade, Fabrication & Manufacturing consistently provides our highest operating profit margins as compared to our other business units. Under his leadership, we have expanded our fabrication and manufacturing operations into Mexico, the United Arab Emirates and Brazil through a joint venture and started operations on our nuclear modular facility in Lake Charles, Louisiana. Mr. Chapman’s industry expertise and leadership has enabled the Fabrication & Manufacturing business unit to consistently achieve one of our highest levels of business unit operating profit margins and puts him at high risk for recruitment by competitors. Accordingly, our Compensation Committee deems these levels appropriate and key to his retention. |
|--------|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   · | In fiscal year 2012, Mr. Chapman led the F&M business unit to a record year of induction bending orders, increased sales and earnings for pipe fabrication facilities, and opened a new pipe fabrication facility in Abu Dhabi. Under Mr. Chapman’s leadership his business unit responded to an emergency request from one client and fabricated over 1,800 spools in just over three months which resulted in greatly improved profitability. Additionally, he was able to book additional business to mitigate a backlog shortfall when a significant phase for one of their larger projects was cancelled. |
|--------|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   · | Mr. Chapman’s base salary and annual incentive targets remained unchanged from the prior fiscal year, but his long term incentive targets increased due to the implementation of the new performance based LTI awards (PCUs), for which he received a one-time supplemental transition grant for a target of $600,000 in addition to normal annual LTI target levels. The core PCU program is designed to be a three-year performance period with earned awards paid at the end of the three years. To address the negative financial impact to the executive from our transition to PCUs from previous stock option awards, which incrementally vested over a four-year service period, three Relative TSR performance periods began in fiscal year 2012, which include the one-time supplemental transition award. Mr. Chapman’s target total compensation for fiscal year 2012 was $3,550,000, which increased from his fiscal year 2011 target of $2,950,000. |
|--------|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   · | For fiscal year 2012, Mr. Chapman’s performance based target compensation totaled $2,200,000 (or 62%) of total target compensation. As discussed above Mr. Chapman provided outstanding operational and strategic leadership throughout fiscal year 2012 which resulted in strong financial performance, especially as compared to prior years, and record stock performance for fiscal year 2012. As a result, the Compensation Committee approved an annual cash incentive payout at 100% of target for Mr. Chapman and the earned maximum payout level of 200% for the first 25% of the PCU award per the terms of the award. See “INCENTIVE COMPENSATION AND OTHER PROGRAMS – Annual Cash Incentive Compensation” and “-Long-Term Incentive Compensation” below. |
|--------|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Elements of Compensation                                        |   | Fiscal Year 2012 Target Compensation |      |   | Fiscal Year 2012 Actual Compensation |   | Actual Market Position (1) |
|-----------------------------------------------------------------|--------|--------------------------------------|-----------|--------|--------------------------------------|--------|----------------------------|
| Annual Base Salary                                              |   | $                                    | 750,000   |   |                                 | $      | 750,000                    |   | Above 75th |
| Incentive Compensation (vested in 2012):                        |   |                                 |      |   |                                 |   |                       |   |   |
| Annual Cash Incentive Compensation                              |   | $                                    | 1,000,000 |   |                                 | $      | 1,000,000                  | (2) | Above 75th |
| Performance Cash Units(FY2012 Performance Period)               |   | $                                    | 300,000   |   |                                 | $      | 600,000                    | (2) | 50th to 75th |
| Compensation Subtotal                                           |   | $                                    | 2,050,000 |   |                                 | $      | 2,350,000                  |   |   |
| Incentive Compensation (future vesting):                        |   |                                 |      |   |                                 |   |                       |   |   |
| Restricted Stock Units(Vestings FY2013, FY2014, and FY2015)     |   | $                                    | 600,000   | (3)    |                                 | $      | 600,000                    | (3) | 50th to 75th |
| Performance Cash Units(FY2013 & FY2014 Performance Periods) |   | $                                    | 900,000   | (4)    |                                 | $      | 900,000                    | (4) | 50th to 75th |
| Total Compensation, Excluding Other Compensation (5)            |   | $                                    | 3,550,000 |   |                                 | $      | 3,850,000                  |   | Above 75th |

|   | (1) | Market Position of Market Peer Group for president of a business unit with revenues of $400 million; compensation components are shown on the chart to indicate placement against market position for Fiscal Year 2012 Actual Compensation. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | For further discussion of annual cash incentive compensation and earned PCU compensation, please see “INCENTIVE COMPENSATION AND OTHER PROGRAMS” below. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Amount represents the value of equity at the time of award by the Compensation Committee, which have a three-year service based vesting of 33% per year. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | Two additional PCU measurement periods began in fiscal year 2012 that are shown at target levels until the end of the performance period ends and earned PCUs are calculated. The first with a $300,000 target and a 2-year measurement period ending on August 31, 2013 and the second with a $600,000 target and a 3-year measurement period ending on August 31, 2014. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | Total compensation excludes all other compensation reflected in the “Summary Compensation Table for the Fiscal Years Ended August 31, 2012, 2011 and 2010” below. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Mr. Bevan joined us in September 1994 as Vice President of Business Development. He held that position until February 1996, when he was appointed Executive Vice President of Corporate Development. Mr. Bevan served as Executive Vice President of Corporate Development until September 2003, when he was appointed as our Vice President of Government Affairs and President of one of our subsidiaries. He served in those positions until April 2005 and then again from May 2006 through March 2007. From April 2005 through May 2006, Mr. Bevan worked for us as a consultant on hurricane Katrina and Rita related matters while he was employed by the Sterling group, a re-processor of PVC. In March 2007, Mr. Bevan was appointed President of the Infrastructure Division and then Commercial and State & Local Government (CSL) Division of our Environmental & Infrastructure Group. He served as CSL Division President until his June 2008 appointment as President of our Environmental & Infrastructure Group. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | In fiscal year 2012, Mr. Bevan led the E&I business unit to achieve strong financial earnings, cash flow and backlog. More specifically, under his leadership, E&I completed and achieved all financial incentives for the largest design and build contract ever let by the United States Core of Army Engineers, which is also the largest storm surge barrier in the world. E&I’s largest and longest running nuclear waste clean-up project, MOX, exceeded over 12 million safety hours without a lost work day, which is the most ever by a Department of Energy contractor and Mr. Bevan was instrumental in negotiating over $350 million of baseline change orders for the MOX project. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | Mr. Bevan’s base salary and annual incentive targets remained unchanged from the prior fiscal year, but his long term incentive targets increased due to the implementation of the new performance based LTI awards (PCUs), for which he received a one-time supplemental transition grant for a target of $600,000 in addition to normal annual LTI target levels. The core PCU program is designed to be a three-year performance period with earned awards paid at the end of the three years. To address the negative financial impact to the executive from our transition to PCUs from previous stock option awards, which incrementally vested over a four-year service period, three Relative TSR performance periods began in fiscal year 2012, which include the one-time supplemental transition award. Mr. Bevan’s target total compensation for fiscal year 2012 was $2,505,000,which increased from his fiscal year 2011 target of $1,955,000. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | For fiscal year 2012, Mr. Bevan’s performance based target compensation totaled $1,465,000 (or 58%) of total target compensation. As discussed above Mr. Bevan provided outstanding operational and strategic leadership throughout fiscal year 2012 which resulted in strong financial performance, especially as compared to prior years, and record stock performance for fiscal year 2012. As a result, the Compensation Committee approved an annual cash incentive payout of 150% of target for Mr. Bevan and the earned maximum payout level of 200% for the first 25% of the PCU award per the terms of the award. See “INCENTIVE COMPENSATION AND OTHER PROGRAMS – Annual Cash Incentive Compensation” and “-Long-Term Incentive Compensation” below. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Additionally, in light of the significant achievements underway, in October 2011, the Chief Executive Officer recommended, and the Compensation Committee approved, a $750,000 non-qualified deferred compensation award, with a two-year cliff vesting period, to be given to Mr. Bevan in order to better ensure his retention with the Company. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Elements of Compensation                                        |   | Fiscal Year 2012 Target Compensation |      |   | Fiscal Year 2012 Actual Compensation |   | Actual Market Position (1) |
|-----------------------------------------------------------------|--------|--------------------------------------|-----------|--------|--------------------------------------|--------|----------------------------|
| Annual Base Salary                                              |   | $                                    | 615,000   |   |                                 | $      | 615,000                    |   | At 75th |
| Incentive Compensation (vested in 2012):                        |   |                                 |      |   |                                 |   |                       |   |   |
| Annual Cash Incentive Compensation                              |   | $                                    | 615,000   |   |                                 | $      | 922,500                    | (2) | Above 75th |
| Performance Cash Units(FY2012 Performance Period)               |   | $                                    | 212,500   |   |                                 | $      | 425,000                    | (2) | Below 50th |
| Compensation Subtotal                                           |   | $                                    | 1,442,500 |   |                                 | $      | 1,962,500                  |   |   |
| Incentive Compensation (future vesting):                        |   |                                 |      |   |                                 |   |                       |   |   |
| Restricted Stock Units(Vestings FY2013, FY2014, and FY2015)     |   | $                                    | 425,000   | (3)    |                                 | $      | 425,000                    | (3) | Below 50th |
| Performance Cash Units(FY2013 & FY2014 Performance Periods) |   | $                                    | 637,500   | (4)    |                                 | $      | 637,500                    | (4) | Below 50th |
| Total Compensation, Excluding Other Compensation (5)            |   | $                                    | 2,505,000 |   |                                 | $      | 3,025,000                  | (6) | Above 75th |

|   | (1) | Market Position of Market Peer Group for president of a business unit with revenues of $2 billion; compensation components are shown on the chart to indicate placement against market position for Fiscal Year 2012 Actual Compensation. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | For further discussion of annual cash incentive compensation and earned PCU compensation, please see “INCENTIVE COMPENSATION AND OTHER PROGRAMS” below. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Amount represents the value of equity at the time of award by the Compensation Committee, which have a three-year service based vesting of 33% per year. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | Two additional PCU measurement periods began in fiscal year 2012 that are shown at target levels until the end of the performance period ends and earned PCUs are calculated. The first with a $212,500 target and a 2-year measurement periods ending on August 31, 2013 and the second with a $425,000 target and a 3-year measurement period ending on August 31, 2014. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | Total compensation excludes all other compensation reflected in the “Summary Compensation Table for the Fiscal Years Ended August 31, 2012, 2011 and 2010” below. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (6) | Excluding the one-time supplemental transition grant of PCUs, Mr. Bevan’s fiscal year 2012 actual total compensation would have been between the 50th and 75th percentiles of market and in line with our compensation philosophy. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | Mr. Smith joined us in May 2009 as Senior Vice President and Manager of Procurement and Contracts with the Power Group and was responsible for all aspects of procurement, contracts, and subcontracts for all divisions of the Power Group. Mr. Smith was recruited because of his industry experience, unique qualifications and focus on project execution. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | In August 2010, Mr. Smith was promoted to President and Chief Operating Officer of Power Group where he oversaw operations and project execution for Shaw’s Nuclear Division, Fossil Division and Plant Services Division. On July 16, 2012, Mr. Smith was promoted to President of Power Group with same operational and project execution responsibility as before plus additional responsibilities for general running of Power Group and overhead functions, essentially continuing his then-current duties plus those of the former President of the Power Group. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | During fiscal year 2012, Mr. Smith led the Power Group in the following operational initiatives: (i) focusing on safety, (ii) strengthening oversight on project and overhead costs, and (iii) providing transparency and efficiencies through enhancing tools and systems. These operational initiatives resulted in the successful completion of a number of large projects either at or above plan and the achievement of a project performance bonus at approximately $15 million above plan level. Additionally, Mr. Smith played a pivotal role in the successful resolution of significant claims on a large fixed-price project and its conversion to reimbursable, which resulted in an increase of profits by approximately $30 million. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Mr. Smith’s target total compensation for fiscal year 2012 was $2,184,541, which increased from his fiscal year 2011 target of $1,600,000. Fiscal year 2012 total target compensation of $2,184,541 reflects “earned” base salary and annual cash incentive compensation levels and actual long-term incentive compensation awarded in October 2011 as follows: |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | – | In October 2011, which is when fiscal year 2012 compensation levels were approved for our executives, Mr. Smith (as then President and Chief Operating Officer of Power Group) was awarded an increase of 15% to his total target compensation, which included base salary increase from $525,000 to $605,000. Incentive compensation targets of 100% for annual cash incentives and 105% for long-term incentives did not change; however, their respective target dollar amounts increased in conjunction with the base salary increase. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | – | In July 2012, Mr. Smith was promoted to President of Power Group and was awarded an increase in compensation of 24%. The Committee determined that this increase was: (i) appropriate in consideration of his increased responsibilities, (ii) in line with our compensation philosophy to target total compensation between market 50th and 75th; and (iii) consistent with compensation of internal peers with similar responsibilities. Mr. Smith’s base salary increased to $750,000. Incentive compensation targets of 100% for annual cash incentives and 105% for long-term incentives did not change;  however, their respective target dollar amounts increased in conjunction with the base salary increase. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | As was the case for the rest of our NEOs, Mr. Smith’s fiscal year 2012 long term incentive target awards increased due to the implementation of the new performance based LTI awards (PCUs), for which he received a supplemental transition grant for a target of $317,625 in addition to annual LTI target levels. The core PCU awards are designed to be a three-year performance period with earned awards paid at the end of the three years. To address the negative financial impact to the executive from our transition to PCUs from previous stock option awards, which incrementally vested over a four-year service period, three Relative TSR performance periods began in fiscal year 2012, which include the one-time supplemental transition award. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | For fiscal year 2012, Mr. Smith’s performance based target compensation totaled $1,251,083 (or 57%) of total target compensation. As discussed above Mr. Smith provided outstanding operational and strategic leadership throughout fiscal year 2012 which resulted in strong financial performance, especially as compared to prior years, and record stock performance for fiscal year 2012. As a result, the Compensation Committee approved an annual cash incentive payout of 195% of target for Mr. Smith and the earned maximum payout level of 200% for the first 25% of the PCU award per the terms of the award. See “INCENTIVE COMPENSATION AND OTHER PROGRAMS – Annual Cash Incentive Compensation” and “-Long-Term Incentive Compensation” below. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Additionally, in light of the significant achievements underway, in October 2011, the Chief Executive Officer recommended, and the Compensation Committee approved, a $750,000 non-qualified deferred compensation award, with a two-year cliff vesting period, to be given to Mr. Smith in order to better ensure his retention with the Company. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Elements of Compensation                                        |   | Fiscal Year 2012 Target Compensation |      |   | Fiscal Year 2012 Actual Compensation |   | Actual Market Position (1) |
|-----------------------------------------------------------------|--------|--------------------------------------|-----------|--------|--------------------------------------|--------|----------------------------|
| Annual Base Salary                                              |   | $                                    | 615,833   | (6)    |                                 | $      | 615,833                    | (6) | Above 75th |
| Incentive Compensation (vested in 2012):                        |   |                                 |      |   |                                 |   |                       |   |   |
| Annual Cash Incentive Compensation                              |   | $                                    | 615,833   |   |                                 | $      | 1,200,000                  | (2) | Above 75th |
| Performance Cash Units(FY2012 Performance Period)               |   | $                                    | 158,812   |   |                                 | $      | 317,624                    | (2) | 50th to 75th |
| Compensation Subtotal                                           |   | $                                    | 1,390,478 |   |                                 | $      | 2,133,457                  |   |   |
| Incentive Compensation (future vesting):                        |   |                                 |      |   |                                 |   |                       |   |   |
| Restricted Stock Units(Vestings FY2013, FY2014, and FY2015)     |   | $                                    | 317,625   | (3)    |                                 | $      | 317,625                    | (3) | 50th to 75th |
| Performance Cash Units(FY2013 & FY2014 Performance Periods) |   | $                                    | 476,438   | (4)    |                                 | $      | 476,438                    | (4) | 50th to 75th |
| Total Compensation, Excluding Other Compensation (5)            |   | $                                    | 2,184,541 |   |                                 | $      | 2,927,520                  | (7) | Above 75th |

|   | (1) | Market Position of Market Peer Group for president of a business unit with revenues of $2 billion; compensation components are shown on the chart to indicate placement against market position for Fiscal Year 2012 Actual Compensation. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | For further discussion of annual cash incentive compensation and earned PCU compensation, please see “INCENTIVE COMPENSATION AND OTHER PROGRAMS” below. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Amount represents the value of equity at the time of award by the Compensation Committee, which have a three-year service based vesting of 33% per year. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | Two additional PCU measurement periods began in fiscal year 2012 that are shown at target levels until the end of the performance period ends and earned PCUs are calculated. The first with a $158,813 target and a 2-year measurement periods ending on August 31, 2013 and the second with a $317,625 target and a 3-year measurement period ending on August 31, 2014. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | Total compensation excludes all other compensation reflected in the “Summary Compensation Table for the Fiscal Years Ended August 31, 2012, 2011 and 2010” below. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (6) | Target and actual annual base salary for fiscal year 2012 reflects two base salary changes, as follows: from $525,000 at beginning of fiscal year to $605,000 in October 2011 and additional increase to $750,000 in July 2012 in conjunction with his promotion to President of Power Group. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (7) | Excluding the one-time supplemental transition grant of PCUs, Mr. Smith’s fiscal year 2012 actual total compensation would have been between the 50th and 75th percentiles of market and in line with our compensation philosophy. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | MIP Performance-Based Objectives. At the beginning of fiscal year 2012, the Compensation Committee determined that incentive compensation should be based on criteria that would further the Company’s long- and short-term business strategies and thus developed two primary components having equal weight:  (i) target financial performance goals, and (ii) evaluation of several variable performance factors aligned with increasing shareholder value. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | – | Target Financial Performance Goals (50% of the MIP award opportunity). The fiscal year 2012 financial performance goals were based on (i) EBITDA, (ii) operating cash flow for our business units, and (iii) the Company’s consolidated results. Target and actual results, for both our consolidated EBITDA and consolidated operating cash flow, exclude the results from our investment in the Westinghouse segment because the results of that segment are subject to significant non-cash and non-operating foreign exchange translation fluctuations. Additionally, the Compensation Committee has the ability to make adjustments to both target and actual results as deemed necessary for one-time significant items that may occur during the fiscal year. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | – | Variable Performance Factors (50% of the MIP award opportunity). These variable performance factors are not given a specific weighting or score and not all of the listed metrics apply to all of the eligible participants of our MIP. The selection and achievement of the variable performance factors applicable to the NEOs are based upon an evaluation by the Compensation Committee of various operational and strategic performance factors that are aligned with increasing shareholder value, including: year-over-year performance of business units and our consolidated financial results; magnitude of business unit contribution to consolidated results; individual performance; environmental, health and safety performance; legal and regulatory compliance; ethics; organizational development; earnings growth; new awards; revenue; effective cost management; attraction, retention and development of high potential employees; compliance with our internal Sarbanes Oxley program and other relevant factors as recommended by our Chief Executive Officer, Chief Financial Officer, or Senior Vice President of Human Resources. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Weighting of MIP Performance-Based Objectives. |
|--------|--------|------------------------------------------------|

|                     |   | Weighting of Performance Goals and Factors (1) |   |
|--------------------------|--------|------------------------------------------------|--------|
| Named Executive Officers |   | ShawConsolidatedEBITDA                         |   |   | ShawConsolidatedOperatingCash Flow |   |   | BusinessUnitEBITDA |   |   | BusinessUnitOperatingCash Flow |   |   | VariablePerformanceFactors |   |   | TotalPerformanceGoals andFactors |   |
| J. M. Bernhard, Jr.      |   |                                           | 40     | % |   |   | 10 | % |   |   | -- |   |   |   | -- |   |   |   | 50 | % |   |   | 100 | % |
| Brian K. Ferraioli       |   |                                           | 40     | % |   |   | 10 | % |   |   | -- |   |   |   | -- |   |   |   | 50 | % |   |   | 100 | % |
| David L. Chapman, Sr.    |   |                                           | 20     | % |   |   | 5 | % |   |   | 20 | % |   |   | 5 | % |   |   | 50 | % |   |   | 100 | % |
| George P. Bevan          |   |                                           | 20     | % |   |   | 5 | % |   |   | 20 | % |   |   | 5 | % |   |   | 50 | % |   |   | 100 | % |
| Eli Smith                |   |                                           | 20     | % |   |   | 5 | % |   |   | 20 | % |   |   | 5 | % |   |   | 50 | % |   |   | 100 | % |

|   | (1) | Weighting of MIP Performance-Based Objectives is illustrated above for all business units that apply to our NEOs. Each NEO is responsible for and performance is based on their respective business unit. See “Fiscal Year 2012 Performance Results” for further discussion. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | Individual MIP Target.  Eligible employees, including our NEOs, have a MIP target award opportunity expressed as a percentage of earned annual base salary (prorated for mid-year hires and mid-year base salary changes). For our NEOs, the Compensation Committee sets these target percentages at the beginning of the fiscal year based upon market information, internal equity considerations and the executive’s ability to assist the Company and its subsidiaries in achieving or exceeding the financial, operational and strategic goals. The below table presents the MIP targets for our NEOs: |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Named Executive Officer | MIP Target Percentage | MIP Target Amount                                                  |
|-------------------------|-----------------------|--------------------------------------------------------------------|
| J.M. Bernhard, Jr.      | 165%                  | $3,300,000                                                         |
| Brian K. Ferraioli      | 123%                  |    $800,000                                         |
| David L. Chapman, Sr.   | 133%                  | $1,000,000                                                         |
| George P. Bevan         | 100%                  |    $615,000                                         |
| Eli Smith               | 100%                  |          $615,833 (1) |

|   | (1) | Mr. Smith’s fiscal year 2012 MIP target amount is prorated for mid-year base salary changes as discussed in “COMPENSATION DISCUSSION OF OUR NAMED EXECUTIVE OFFICERS “ above. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | MIP Payout Calculation.  The financial goals and variable performance factors are calculated independently and in total provide a pool of MIP funds for each business unit. Eligible employees, including our NEOs, are eligible for a potential MIP award opportunity of up to 200% of their respective individual targets and individual award levels vary based on individual performance. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Fiscal Year 2012 Performance Results. For fiscal year 2012, the Company’s assessment of MIP performance results was as follows: |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------|

|   | – | Target Financial Performance Goals (50% of the MIP award opportunity). As provided for in the MIP design, and approved by the Compensation Committee, the fiscal year 2012 performance results, which exclude the results from our investment in the Westinghouse segment, included positive EBITDA adjustments of $23.7 million for an unexpected ruling on a motion for a partial summary judgment in a litigation matter and for transaction costs associated with the sale of substantially all the assets of E&C. There were no adjustments made to operating cash flow results. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | – | Variable Performance Factors (50% of the MIP award opportunity). In addition to the exceptional stock performance which had appreciated by 81% from the August 31, 2011 closing price, the final EBITDA results of $314.6 million represented a significant improvement (1,773%) from prior year’s EBITDA loss of $18.8 million. These items were considered, in addition to various other items as described above, as part of the Compensation Committee’s assessment of variable performance factors and achievement levels. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Named Executive Officer | MIP Award as Percentage of Target | MIP Award Amount           |
|-------------------------|-----------------------------------|----------------------------|
| J.M. Bernhard, Jr.      | 200%                              | $6,600,000                 |
| Brian K. Ferraioli      | 200%                              | $1,600,000                 |
| David L. Chapman, Sr.   | 100%                              | $1,000,000                 |
| George P. Bevan         | 150%                              |    $922,500 |
| Eli Smith               | 195%                              | $1,200,000                 |

----

| J.M. Bernhard, Jr.Chief Executive Officer | Historical MIP Awards asPercentage of Target |
|-------------------------------------------|----------------------------------------------|
| Fiscal Year 2010                          | 17.6                                         | % |
| Fiscal Year 2011                          | 0                                            | % |
| Fiscal Year 2012                          | 200                                          | % |

|   | · | Individual LTI Target. Eligible employees, including our NEOs, have a LTI targets expressed as a percentage of annual base salary. The Compensation Committee sets these target percentages at the beginning of the fiscal year based upon market information, internal equity considerations and the executive’s ability to assist the Company and its shareholders by increasing future stock price performance. The below table presents the fiscal year 2012 LTI targets awards for our NEOs, which is inclusive of the annual PCUs and RSUs, plus the transition PCUs: |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                    |   | Fiscal Year 2012 LTI Target |   |
|-------------------------|--------|-----------------------------|--------|
| Named Executive Officer |   | LTI Target Percentage (2)   |   |   | PCU Target Amount (1) |   |   | RSU Target Amount |   |
| J.M. Bernhard, Jr.      |   |                        | 235    | % |   | $ | 4,700,000 |   |   | $ | 2,350,000 |   |
| Brian K. Ferraioli      |   |                        | 215    | % |   | $ | 1,400,000 |   |   | $ | 700,000 |   |
| David L. Chapman, Sr.   |   |                        | 160    | % |   | $ | 1,200,000 |   |   | $ | 600,000 |   |
| George P. Bevan         |   |                        | 138    | % |   | $ | 850,000 |   |   | $ | 425,000 |   |
| Eli Smith               |   |                        | 103    | % |   | $ | 635,250 |   |   | $ | 317,625 |   |

|   | (1) | PCU Target Amount is inclusive of both the annual and transition PCUs (for further discussion see “LTI Vesting and Performance Periods” below). It is anticipated that in future years, the grant mix will be an equal weighting of RSUs and PCUs. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | LTI Target Percentage represents the annual target percentage approved by the Compensation Committee and does not include the transition PCUs. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | LTI Compensation Tied to Stock Performance. As previously described, in addition to RSUs, which are subject to the “outer layer” 162(m) performance threshold, we have further emphasized performance-based pay and compliance with our burn rate commitment by replacing stock options with PCUs for our LTI program. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| PCU Peer Group                   |
|----------------------------------|
| Chicago Bridge & Iron Co.    |
| Fluor Corporation                |
| Foster Wheeler AG                |
| Jacobs Engineering Group Inc.    |
| KBR Inc.                         |
| The Babcock & Wilcox Company |
| Tetra Tech Inc                   |
| URS Corporation                  |

|   | · | LTI Vesting and Performance Periods. Fiscal year 2012 LTI awards vest over the next three years. Annual RSUs incrementally vest over a three-year service period and represent 50% of each NEO’s annual target LTI. Annual PCUs vest at the end of a three-year performance period, and also represent 50% of each NEO’s annual target LTI. Beginning in fiscal year 2012, PCUs were issued as a replacement for the previous practice of awarding stock options, which incrementally vested over a four-year service period. In modeling the impact of the transition, it was identified that our NEOs would experience gaps of vesting, which would result in a negative financial impact. To address this transition, the Committee approved a one-time, supplemental PCU award of 50% of each NEO’s annual target LTI, which vests at the end of the one year and two year performance periods. The table below includes the vesting schedule and performance cycles for the fiscal year 2012 PCU grant. The first two performance cycles listed are related to the supplemental PCU award. The final cycle is related to the annual award. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Performance Cycle       | Performance Cycle End Date | Percentage of Target Award that can be Earned |
|-------------------------|----------------------------|-----------------------------------------------|
| Fiscal Year 2012        | 8/31/12                    | 25%                                           |
| Fiscal Year 2012 - 2013 | 8/31/13                    | 25%                                           |
| Fiscal Year 2012 - 2014 | 8/31/14                    | 50%                                           |

|   | · | Earned PCU Calculation.  The relative TSR performance is calculated as follows: |
|--------|--------|-------------------------------------------------------------------------------------------|

| Relative TSR Performance | Percentage of Target Award Earned |
|--------------------------|-----------------------------------|
| Maximum                  | +25% or Above                     | 200% |
| Target                   | 0%                                | 100% |
| Threshold                | -25%                              |   50% |
| Below Threshold          | -25% or Below                     |     0% |

|   | – | At the end of the performance period, if during any 20 consecutive trading-day period during the Performance Period the Company’s actual closing stock price on each day during the 20 day period is at least 50% greater than the Company’s average actual closing price over the 20 trading days ending on the day before the first day of the Performance Period, then the number of earned PCUs should be at least target award. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | – | At the end of the performance period, if the Company’s three-year average annual TSR is negative, the number of earned PCUs amount cannot exceed target award. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Performance Cycle       | Performance Cycle End Date (1) | Percentage of Target Award that can be Earned |
|-------------------------|--------------------------------|-----------------------------------------------|
| Fiscal Year 2012        | 8/31/12                        | 25%                                           |
| Fiscal Year 2012 - 2013 | 8/31/13                        | 25%                                           |
| Fiscal Year 2012 - 2014 | 8/31/14                        | 50%                                           |

|   | (1) | Earned awards are paid within 60 days following the completion of the fiscal year. |
|--------|-----|------------------------------------------------------------------------------------|

|   | · | Fiscal Year 2012 Performance Results. Management calculated and the Compensation Committee certified the below performance results. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------|

| Named Executive Officer | Stock Ownership Guidelines (2) | Meets Criteria (1) |
|-------------------------|--------------------------------|--------------------|
| J.M. Bernhard, Jr.      | 6 x Annual Salary              | ü             |
| Brian K. Ferraioli      | 2.5 x Annual Salary            | ü             |
| David L. Chapman, Sr.   | 2.5 x Annual Salary            | ü             |
| George P. Bevan         | 2.5 x Annual Salary            | ü             |
| Eli Smith               | 2.5 x Annual Salary            | ü             |

|   | (1) | As of August 31, 2012. |
|--------|-----|------------------------|

|   | (2) | Stock ownership guideline for executive officers who are not direct reports of the Chief Executive Officer is 1.5x their annual salary. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | Mr. Ferraioli received an award for $1 million with a two-year cliff vesting period. This award was given to him in order to better ensure his retention with the Company based on his increased focus on project execution and fiscal responsibility coupled with his Shaw-specific and overall industry experience which should lead our financial organization to best-in-class levels. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Mr. Bevan received an award for $750,000 with a two-year cliff vesting period. This award was given to him in order to better ensure his retention with the Company based on his Shaw-specific and overall industry experience to lead our E&I Group to best-in-class levels by moving focus from the successful completion of the hurricane protection project for the USACE to identifying a strong pipeline of work, including expanding the E&I business into mining and coastal restoration within the Commercial, State and Local Division, and establish Federal Division as an industry leader with the DOE & DOD. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Mr. Smith received an award for $750,000 with a two-year cliff vesting period. This award was given to him in order to better ensure his retention with the Company through the leadership transition from his then role of Chief Operating Officer & President of the Power Group to his now current role as President of the Power Group, which occurred in July 2012. His succession to President of the Power Group is based on his strong procurement and contract background, which makes him especially poised to manage the complex nuclear contracts. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| Named Executive Officer        |   | Annual Base Salary |      |   | TargetAnnual Cash Incentive Compensation |   |      | TargetLong-Term Incentive Compensation |   |   | Target Total Compensation |   |
|--------------------------------|--------|--------------------|-----------|--------|------------------------------------------|--------|-----------|----------------------------------------|--------|--------|---------------------------|--------|
| J.M. Bernhard, Jr.             |   |               |      |   |                                     |   |      |                                   |   |   |                      |   |
| Chairman, President and        |   | $                  | 2,070,000 |   |                                     | $      | 3,415,000 |                                   |   | $      | 4,865,000                 |   |   | $ | 10,350,000 |   |
| Chief Executive Officer        |   |               |      |   |                                     |   |      |                                   |   |   |                      |   |   |   |   |   |
| Brian K. Ferraioli             |   |               |      |   |                                     |   |      |                                   |   |   |                      |   |   |   |   |   |
| Executive Vice President and   |   | $                  | 672,750   |   |                                     | $      | 828,000   |                                   |   | $      | 1,449,000                 |   |   | $ | 2,949,750 |   |
| Chief Financial Officer        |   |               |      |   |                                     |   |      |                                   |   |   |                      |   |   |   |   |   |
| David L. Chapman, Sr.          |   |               |      |   |                                     |   |      |                                   |   |   |                      |   |   |   |   |   |
| President, Fabrication &   |   | $                  | 776,250   |   |                                     | $      | 1,035,000 |                                   |   | $      | 1,242,000                 |   |   | $ | 3,053,250 |   |
| Manufacturing Group            |   |               |      |   |                                     |   |      |                                   |   |   |                      |   |   |   |   |   |
| George P. Bevan                |   |               |      |   |                                     |   |      |                                   |   |   |                      |   |   |   |   |   |
| President, Environmental & |   | $                  | 636,525   |   |                                     | $      | 636,525   |                                   |   | $      | 879,750                   |   |   | $ | 2,152,800 |   |
| Infrastructure Group           |   |               |      |   |                                     |   |      |                                   |   |   |                      |   |   |   |   |   |
| Eli Smith                      |   |               |      |   |                                     |   |      |                                   |   |   |                      |   |   |   |   |   |
| President, Power Group         |   | $                  | 750,000   |   |                                     | $      | 750,000   |                                   |   | $      | 787,500                   |   |   | $ | 2,287,500 |   |

----

----

----

| Name and Principal Position        | Years  |   | Salary($) (2) |      |   | Bonus($) (3) |   |    | StockAwards($) (4) |   |   | OptionAwards($) (5) |   |   | Non-EquityIncentivePlanCompensation($) (6) |      |   | AllOtherCompensation($) (7) |   |      | Total ($) |   |
|------------------------------------|--------|--------|---------------|-----------|--------|--------------|--------|---------|--------------------|--------|--------|---------------------|--------|--------|--------------------------------------------|-----------|--------|-----------------------------|--------|-----------|-----------|--------|
| J. M. Bernhard, Jr.                | 2012   |   |          | 2,000,000 |   |         |   | — |               |   |   | 7,518,825           |   |   |                                       | —   |   |                        |   | 6,600,000 |      |   |   | 713,099 |   |   |   | 16,831,924 |   |
| Chairman, President and            | 2011   |   |          | 2,000,000 |   |         |   | — |               |   |   | 2,473,679           |   |   |                                       | 3,137,146 |   |                        |   | —   |      |   |   | 669,580 |   |   |   | 8,280,405 |   |
| Chief Executive Officer            | 2010   |   |          | 1,972,768 |   |         |   | — |               |   |   | 2,473,671           |   |   |                                       | 2,826,137 |   |                        |   | 580,800   |      |   |   | 554,268 |   |   |   | 8,407,644 |   |
|                               |   |   |          |      |   |         |   |    |               |   |   |                |   |   |                                       |      |   |                        |   |      |      |   |   |   |   |   |   |   |   |
| Brian K. Ferraioli                 | 2012   |   |          | 650,000   |   |         |   | — |               |   |   | 2,239,650           |   |   |                                       | —   |   |                        |   | 1,600,000 |      |   |   | 1,057,203 |   |   |   | 5,546,853 |   |
| Executive Vice President and Chief | 2011   |   |          | 650,000   |   |         |   | — |               |   |   | 736,832             |   |   |                                       | 603,038   |   |                        |   | —   |      |   |   | 36,006 |   |   |   | 2,025,876 |   |
| Financial Officer                  | 2010   |   |          | 645,935   |   |         |   | — |               |   |   | 736,852             |   |   |                                       | 548,925   |   |                        |   | 140,800   |      |   |   | 35,431 |   |   |   | 2,107,943 |   |
|                               |   |   |          |      |   |         |   |    |               |   |   |                |   |   |                                       |      |   |                        |   |      |      |   |   |   |   |   |   |   |   |
| David L. Chapman, Sr.              | 2012   |   |          | 750,000   |   |         |   | — |               |   |   | 1,919,700           |   |   |                                       | —   |   |                        |   | 1,000,000 |      |   |   | 40,120 |   |   |   | 3,709,820 |   |
| President, Fabrication &       | 2011   |   |          | 750,000   |   |         |   | 750,000 |               |   |   | 631,584             |   |   |                                       | 516,888   |   |                        |   | —   |      |   |   | 33,771 |   |   |   | 2,682,243 |   |
| Manufacturing Group                | 2010   |   |          | 750,000   |   |         |   | 750,000 |               |   |   | 631,583             |   |   |                                       | 470,500   |   |                        |   | —   |      |   |   | 34,270 |   |   |   | 2,636,353 |   |
|                               |   |   |          |      |   |         |   |    |               |   |   |                |   |   |                                       |      |   |                        |   |      |      |   |   |   |   |   |   |   |   |
| George P. Bevan (1)                | 2012   |   |          | 609,688   |   |         |   | — |               |   |   | 1,359,788           |   |   |                                       | —   |   |                        |   | 922,500   |      |   |   | 783,780 |   |   |   | 3,675,756 |   |
| President, Environmental &     |   |   |          |      |   |         |   |    |               |   |   |                |   |   |                                       |      |   |                        |   |      |      |   |   |   |   |   |   |   |   |
| Infrastructure Group               |   |   |          |      |   |         |   |    |               |   |   |                |   |   |                                       |      |   |                        |   |      |      |   |   |   |   |   |   |   |   |
|                               |   |   |          |      |   |         |   |    |               |   |   |                |   |   |                                       |      |   |                        |   |      |      |   |   |   |   |   |   |   |   |
| Eli Smith (1)                      | 2012   |   |          | 615,833   |   |         |   | — |               |   |   | 1,016,241           |   |   |                                       | —   |   |                        |   | 1,200,000 |      |   |   | 784,013 |   |   |   | 3,616,087 |   |
| President, Power Group             |   |   |          |      |   |         |   |    |               |   |   |                |   |   |                                       |      |   |                        |   |      |      |   |   |   |   |   |   |   |   |

----

| (1)    | Messrs. Bevan and Smith were not NEOs in fiscal years 2010 and 2011; therefore, for each of Messrs. Bevan and Smith, the Summary Compensation Table includes information only for fiscal year 2012.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| (2)    | The amounts reported in this column for 2012 reflect the earned annual base salary for each of our NEOs. The amounts reported for Messrs. Bernhard, Ferraioli and Chapman in 2011 and for Mr. Chapman in 2010 have been adjusted to reflect earned annual base salary rather than the actual amount of salary paid to each NEO in the applicable fiscal year, as was previously reported. The difference between earned annual base salary and actual amount of salary paid differs slightly due to the number of business hours in each fiscal year. The Company elected to adjust the previously reported amounts for consistency and ease of comparability. The amounts reported for Messrs. Bernhard and Ferraioli in 2010 were not adjusted, as each of these NEOs received salary adjustments during the fiscal year and therefore their earned annual base salary is pro-rated. The amounts reported in the “Total” column for 2011 and 2010 for these NEOs have also been adjusted to reflect this change. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| (3)    | For Mr. Chapman, the amounts in fiscal years 2011 and 2010 represent guaranteed minimum annual MIP cash incentive compensation that was previously provided under a prior employment agreement. His employment agreement was amended during fiscal year 2011, and his guaranteed MIP award was removed beginning in fiscal year 2012. The balance of the annual MIP compensation, if any, is included in the Non-Equity Incentive Plan Compensation column. The bifurcated presentation of the total annual MIP compensation is necessary to comply with the SEC guidance on this required disclosure. None of our NEOs received guaranteed minimum annual cash incentive compensation for fiscal year 2012.                                                                                                                                                                                                                                                                                                                   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| (4)    | This column represents the total grant date fair value, computed in accordance with ASC 718, of PCUs granted during fiscal year 2012 and RSUs granted during fiscal years 2012, 2011 and 2010. The grant date fair value of PCUs was calculated using a Monte Carlo simulation model. The assumptions used in the calculation of the grant date fair value of PCUs are included in Note 13 to our audited consolidated financial statements in our annual report on Form 10-K for the fiscal year ended August 31, 2012. The grant date fair value of RSUs is calculated using the last quoted sale price of our common stock on the NYSE on the grant date. The table below includes a breakdown of the grant date fair values included in the Stock Awards column above as well as the maximum value of the PCUs at the grant date assuming the highest level of performance is achieved.                                                                                                                                    |

----

| Name                  | Years |   | PCU Awards:Grant DateFair Value($) |      |   | PCU Awards:Maximum Valueat Grant Date($) |   |      | RSU Awards:Grant DateFair Value($) |   |
|-----------------------|-------|--------|------------------------------------|-----------|--------|------------------------------------------|--------|-----------|------------------------------------|--------|
| J. M. Bernhard, Jr.   | 2012  |   |                               | 5,168,825 |   |                                     |   | 9,400,000 |                               |   |   | 2,350,000 |   |
|                  | 2011  |   |                               | —   |   |                                     |   | —   |                               |   |   | 2,473,679 |   |
|                  | 2010  |   |                               | —   |   |                                     |   | —   |                               |   |   | 2,473,671 |   |
| Brian K. Ferraioli    | 2012  |   |                               | 1,539,650 |   |                                     |   | 2,800,000 |                               |   |   | 700,000 |   |
|                  | 2011  |   |                               | —   |   |                                     |   | —   |                               |   |   | 736,832 |   |
|                  | 2010  |   |                               | —   |   |                                     |   | —   |                               |   |   | 736,852 |   |
| David L. Chapman, Sr. | 2012  |   |                               | 1,319,700 |   |                                     |   | 2,400,000 |                               |   |   | 600,000 |   |
|                  | 2011  |   |                               | —   |   |                                     |   | —   |                               |   |   | 631,584 |   |
|                  | 2010  |   |                               | —   |   |                                     |   | —   |                               |   |   | 631,583 |   |
| George P. Bevan       | 2012  |   |                               | 934,788   |   |                                     |   | 1,700,000 |                               |   |   | 425,000 |   |
| Eli Smith             | 2012  |   |                               | 698,616   |   |                                     |   | 1,270,500 |                               |   |   | 317,625 |   |

| Performance Cycle       | Performance Cycle End Date | Percentage of Target Award that can be Earned |
|-------------------------|----------------------------|-----------------------------------------------|
| Fiscal Year 2012        | 8/31/12                    | 25%                                           |
| Fiscal Year 2012 - 2013 | 8/31/13                    | 25%                                           |
| Fiscal Year 2012 - 2014 | 8/31/14                    | 50%                                           |

| (5)    | This column represents the total grant date fair value, computed in accordance with ASC 718, of stock options granted during fiscal years 2011 and 2010. Stock options were not granted in fiscal year 2012. The assumptions used in the calculation of grant date fair value are included in Note 13 to our audited consolidated financial statements in our annual report on Form 10-K for the fiscal year ended August 31, 2012. The dollar value of the stock option awards approved by the Compensation Committee for each of the option awards in fiscal year 2011 is unchanged from fiscal year 2010. The fiscal year 2011 over fiscal year 2010 increase in total grant date fair value, computed in accordance with ASC 718, is due to the share valuation methodology developed and recommended by Meridian to calculate the actual number of option awards granted. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| (6)    | Amounts shown in this column represent the annual cash incentive compensation paid for fiscal years 2012, 2011 and 2010 under our MIP, excluding any guaranteed minimum annual cash incentive compensation included in the Bonus column of this table. See “Compensation Discussion of Our Named Executive Officers” and "Incentive Compensation and Other Programs” above under “COMPENSATION DISCUSSION AND ANALYSIS” as well as “Grants of Plan-Based Awards during Fiscal Year 2012” below for additional information.                                                                                                                                                                                                                                                                                                           |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| (7)    | The following table describes the components of the “All Other Compensation” column for fiscal year 2012. Some of the amounts in the table below were paid directly by the Company and some were reimbursed by the Company to the NEOs. The table below does not include amounts for the following perquisites because there was no incremental cost associated with these perquisites during fiscal year 2012.                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | –The Company purchases tickets to athletic and other entertainment events generally for client entertainment purposes. If the tickets are not being used for client entertainment purposes, employees, including the Company’s NEOs, may use the tickets.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | –We are a member of a hunting and fishing club in southwest Louisiana that we use primarily for client entertainment purposes. If the Company is not using the club for client entertainment purposes, employees, including the Company’s NEOs, may use the club.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | –Guests may accompany NEOs on business trips periodically. If the Company’s aircraft is used and a guest travels with the NEO on the business trip, there is no incremental cost to the Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

----

|                                        |   | J. M.Bernhard, Jr. |    |   | Brian K.Ferraioli |   |      | David L. Chapman, Sr. |   |   | George P.Bevan |   |   | Eli Smith |    |
|--------------------------------------------------|--------|--------------------|---------|--------|-------------------|--------|-----------|-----------------------|--------|--------|----------------|--------|--------|-----------|---------|
| (a) Company Paid Insurance Premiums              |   | $                  | 1,920   |   |              | $      | 1,920     |                  |   | $      | 1,920          |   |   | $         | 1,920   |   |   | $ | 1,920 |   |
| (b) Company Contributions to 401(k) Plan         |   |               | 7,500   |   |              |   | 7,500     |                  |   |   | 7,500          |   |   |      | 7,590   |   |   |   | 7,500 |   |
| (c) Nonqualified Deferred Compensation           |   |               | — |   |              |   | 1,000,000 |                  |   |   | —        |   |   |      | 750,000 |   |   |   | 750,000 |   |
| (d) Personal Use of Corporate Aircraft           |   |               | 291,148 |   |              |   | 8,482     |                  |   |   | —        |   |   |      | — |   |   |   | — |   |
| (e) Automobile Expenses                          |   |               | 39,051  |   |              |   | —   |                  |   |   | —        |   |   |      | — |   |   |   | — |   |
| (f) Security Services                            |   |               | 282,400 |   |              |   | —   |                  |   |   | —        |   |   |      | — |   |   |   | — |   |
| (g) Flex Program                                 |   |               | 80,000  |   |              |   | 26,000    |                  |   |   | 30,000         |   |   |      | 24,270  |   |   |   | 24,593 |   |
| (h) Tax Gross-up Payments on Relocation Benefits |   |               | — |   |              |   | 7,178     |                  |   |   | —        |   |   |      | — |   |   |   | — |   |
| (i) Other                                        |   |               | 11,080  |   |              |   | 6,123     |                  |   |   | 700            |   |   |      | — |   |   |   | — |   |
| TOTAL                                            |   | $                  | 713,099 |   |              | $      | 1,057,203 |                  |   | $      | 40,120         |   |   | $         | 783,780 |   |   | $ | 784,013 |   |

|   | (a)    | Represents the dollar value of the premiums paid directly by us for life insurance, long-term disability insurance and accidental death and dismemberment insurance. These premiums are paid for certain executives, including, but not limited to, the NEOs, and represent the amounts that exceed the costs of the programs generally available to all full-time professional employees.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   | (b)    | Represents our contributions to our 401(k) Plan, which is a tax-qualified, defined contribution retirement plan available to all eligible employees. The Company provides a matching contribution of 50% of each employee’s contribution to the 401(k) Plan up to six percent of each employee’s eligible compensation, subject to applicable Internal Revenue Code limitations. As a result of nondiscrimination testing of highly compensated employees, refunds of employee 401(k) Plan withholdings and the forfeiture of our corresponding contribution may take place in subsequent years. The amounts included remain subject to potential reduction for past or potential forfeitures as a result of nondiscrimination testing. The amounts shown are calculated on a fiscal year, rather than a calendar year, basis; therefore, the contributions in the table may be greater than the annual Internal Revenue Code limitation for certain employees. |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   | (c)    | Represents contributions made to our Deferred Compensation Plan for Messrs. Ferraioli, Bevan and Smith. See “Nonqualified Deferred Compensation” below for additional information.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   | (d)    | The Company allows Mr. Bernhard personal use of the corporate aircraft, in accordance with his employment agreement, in order to ensure his personal safety as our Chief Executive Officer, minimize his time away from the office and compensate for the limited number of commercial flights into and out of the local airport in Baton Rouge, Louisiana.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |   | The Company allowed Mr. Ferraioli limited personal use of the corporate aircraft during fiscal year 2012, in accordance with the terms of his relocation agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |   | The incremental cost of personal use of the corporate aircraft was calculated by multiplying certain variable operating costs per hour by the number of hours flown by each NEO for personal use (excluding the hours associated with deadhead legs, which are often directed by the Company for repositioning of the aircraft to locations most beneficial to the Company’s operations).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |   | The following variable operating costs were included in our calculation of incremental cost:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |   | -     fuel;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |   | -     incremental repairs and maintenance;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |   | -     catering and supplies;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |   | -     travel and lodging expenses for the crew; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |   | -     landing, flight planning and other related fees.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |   | The following costs were not included in our calculation of incremental cost:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |   | -     fixed costs, such as crew compensation, lease expenses, insurance and hangar rent;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |   | -     costs associated with regularly scheduled or planned maintenance, upgrades and improvements and aviation subscriptions and publications; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   |   | -     the amount of our disallowed tax deduction. Internal Revenue Code Section 274(e) limits the amount that companies can deduct for the personal use of corporate aircraft to the amount recognized as income by the executive that used the aircraft. For fiscal year 2012, the total amount of our disallowed tax deduction resulting from personal use of the corporate aircraft by our employees, including our NEOs, was approximately $3.3 million.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |

----

|   | (e)    | The Company provides Mr. Bernhard with a Company-owned automobile for business and personal use. The aggregate incremental cost reflected in the table above includes fuel, maintenance, insurance and annual depreciation expense based on an estimated useful life of 5 years. We have included 100% of the costs paid by us as the aggregate incremental costs, which includes both personal and business use of the automobile. Although Mr. Bernhard does not keep detailed records of automobile use for business purposes, he estimates his business use at 20%. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   | (f)    | Represents the cost of security services provided at Mr. Bernhard’s personal residence as required by the Company. The amount for fiscal year 2011 was lower due to an insurance recovery that was not repeated in the current year.                                                                                                                                                                                                                                                                                                                              |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   | (g)    | Represents 4% of each NEO’s annual base salary paid out on a calendar quarter basis in accordance with our Flex Program. See discussion above under “COMPENSATION DISCUSSION AND ANALYSIS - Benefits and Other Compensation.”                                                                                                                                                                                                                                                                                                                         |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   | (h)    | Represents a tax gross-up payment made to Mr. Ferraioli to cover taxes on portions of his relocation expenses incurred in fiscal year 2012. In general, all professional employees, including the NEOs, are eligible for tax reimbursements for relocation expenses.                                                                                                                                                                                                                                                                                                    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   | (i)    | Represents other amounts including the total amount paid for country club dues and related fees for Mr. Bernhard, relocation expenses for Mr. Ferraioli and cost incurred by us for Mr. Chapman’s spouse to accompany him to a business function.                                                                                                                                                                                                                                                                                                                 |

|                  |          |          | Grant             | Estimated Future PayoutsUnder Non-Equity Incentive PlanAwards (2) | Estimated Future PayoutsUnder Equity Incentive PlanAwards (3) | All OtherStockAwards:Number ofShares ofStock or | GrantDateFairValue ofStock andOption |
|-----------------------|---------------|---------------|-------------------|-------------------------------------------------------------------|---------------------------------------------------------------|-------------------------------------------------|--------------------------------------|
| Name                  | Grant Type    | GrantDate (1) | Approval Date (1) | Threshold ($)(2a)                                                 | Target ($)                                                    | Maximum ($)(2b)                                 | Threshold (#)                        | Target (#) | Maximum (#) | Units(#)(4) | Awards ($)(5) |
|                  |          |          |              |                                                              |                                                          |                                            |                                 |   |   |   |   |
| J. M. Bernhard, Jr.   | MIP           |          |              | —                                                           | 3,300,000                                                     | 6,600,000                                       |                                 |   |   |   |   |
|                  | PCUs - Annual | 11/1/2011     | 10/20/2011        |                                                              |                                                          |                                            | —                              | 4,700,000 | 9,400,000 |   | 5,168,825 |
|                  | RSUs - Annual | 11/1/2011     | 10/20/2011        |                                                              |                                                          |                                            |                                 |   |   | 101,075 | 2,350,000 |
| Brian K. Ferraioli    | MIP           |          |              | —                                                           | 800,000                                                       | 1,600,000                                       |                                 |   |   |   |   |
|                  | PCUs - Annual | 11/1/2011     | 10/20/2011        |                                                              |                                                          |                                            | —                              | 1,400,000 | 2,800,000 |   | 1,539,650 |
|                  | RSUs - Annual | 11/1/2011     | 10/20/2011        |                                                              |                                                          |                                            |                                 |   |   | 30,108 | 700,000 |
| David L. Chapman, Sr. | MIP           |          |              | —                                                           | 1,000,000                                                     | 2,000,000                                       |                                 |   |   |   |   |
|                  | PCUs - Annual | 11/1/2011     | 10/20/2011        |                                                              |                                                          |                                            | —                              | 1,200,000 | 2,400,000 |   | 1,319,700 |
|                  | RSUs - Annual | 11/1/2011     | 10/20/2011        |                                                              |                                                          |                                            |                                 |   |   | 25,806 | 600,000 |
| George P. Bevan       | MIP           |          |              | —                                                           | 615,000                                                       | 1,230,000                                       |                                 |   |   |   |   |
|                  | PCUs - Annual | 11/1/2011     | 10/20/2011        |                                                              |                                                          |                                            | —                              | 850,000 | 1,700,000 |   | 934,788 |
|                  | RSUs - Annual | 11/1/2011     | 10/20/2011        |                                                              |                                                          |                                            |                                 |   |   | 18,280 | 425,000 |
| Eli Smith             | MIP           |          |              | —                                                           | 615,833                                                       | 1,231,666                                       |                                 |   |   |   |   |
|                  | PCUs - Annual | 11/1/2011     | 10/20/2011        |                                                              |                                                          |                                            | —                              | 635,250 | 1,270,500 |   | 698,616 |
|                  | RSUs - Annual | 11/1/2011     | 10/20/2011        |                                                              |                                                          |                                            |                                 |   |   | 13,661 | 317,625 |

----

| (1)    | The Compensation Committee approved the awards classified as “PCUs – Annual” and “RSUs – Annual” on October 20, 2011, and determined that the grants would be awarded on November 1, 2011, the first full trading day following the day of our earnings release.                                                                                                                                                                                                                                                                                         |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| (2)    | These columns show the range of possible cash payouts under the performance-based portion of our MIP related to fiscal year 2012 performance. For additional information related to our annual cash incentive awards and amounts actually paid to each of our NEOs, see “COMPENSATION DISCUSSION AND ANALYSIS - Compensation Discussion of Our Named Executive Officers” and “- Incentive Compensation and Other Programs.”                                                                                                                                          |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | (a)   No threshold exists for the NEOs.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | (b)   Calculated as 200% of the NEO’s fiscal year 2012 annual MIP cash incentive compensation target.                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| (3)    | These columns show the range of PCUs that may be earned under the PCU Program. For each earned PCU, $1 will be paid. Each executive can earn between 0% and 200% of their individual target award depending on the level of performance achieved, which is measured by comparing Shaw’s TSR to the median TSR of the PCU Peer Group, over a three-year performance period. For additional information, see “COMPENSATION DISCUSSION AND ANALYSIS - Compensation Discussion of Our Named Executive Officers” and “- Incentive Compensation and Other Programs.” |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| (4)    | This column shows the number of RSUs granted under our Omnibus Plan to our NEOs during fiscal year 2012. For additional information related to the terms and conditions of the RSUs granted, see “Outstanding Equity Awards at 2012 Fiscal Year End” below.                                                                                                                                                                                                                                                                                                                      |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| (5)    | This column shows the total grant date fair value, computed in accordance with ASC 718, of PCUs and RSUs granted during fiscal year 2012 to our NEOs. The assumptions used in the calculation of the grant date fair value of PCUs are included in Note 13 to our audited consolidated financial statements in our annual report on Form 10-K for the fiscal year ended August 31, 2012. The grant date fair value of RSUs is calculated using the last quoted sale price of our common stock on the NYSE on the grant date.                                                                 |

----

|                 | Option Awards | Stock Awards |                                                           |
|----------------------|---------------|--------------|----------------------------------------------------------------|
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   | RSUs & Earned PCUs |   | Equity Incentive Plan Awards |   |
| Name                 | GrantDate(3)  |         | Number ofSecuritiesUnderlyingUnexercisedOptions (#)Exercisable |   |   | Number ofSecuritiesUnderlyingUnexercisedOptions (#)Unexercisable |   |   | OptionExercisePrice ($) |   | OptionExpirationDate | GrantDate(3) |   | NumberOf Sharesor Unitsof Stockthat havenot Vested(#)(1) |   |   | MarketValueof Sharesor Unitsof Stockthat havenot Vested($)(1) |   | GrantDate(3) |   | Number ofUnearnedShares,Unitsor OtherRights thathave notVested(#)(2) |   |   | Market orPayoutValue ofUnearnedShares,Unitsor OtherRights thathave notVested($)(2) |   |
| J. M. Bernhard, Jr.  | 10/10/2003    |         |                                                           | 304,000 |   |   |   | — |   |   |   | 11.20 |   | 10/10/2013 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                 | 10/13/2004    |         |                                                           | 232,800 |   |   |   | — |   |   |   | 12.66 |   | 10/13/2014 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                 | 10/13/2005    |         |                                                           | 206,000 |   |   |   | — |   |   |   | 20.76 |   | 10/13/2015 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                 | 11/1/2006     |         |                                                           | 206,991 |   |   |   | — |   |   |   | 26.70 |   | 11/1/2016 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                 | 12/7/2007     |         |                                                           | 72,130 |   |   |   | — |   |   |   | 67.19 |   | 12/7/2017 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                 | 10/31/2008    |         |                                                           | 170,153 |   |   |   | 56,718 |   |   |   | 17.89 |   | 10/31/2018 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   |   |   |   | 1/28/2009 |   |   | 34,568 |   |   |   | 1,454,621 | (1a) |   |   |   |   |   |   |   |
|                 | 10/29/2009    |         |                                                           | 73,712 |   |   |   | 73,713 |   |   |   | 27.79 |   | 10/29/2019 |   | 10/29/2009 |   |   | 44,507 |   |   |   | 1,872,855 | (1a) |   |   |   |   |   |   |   |
|                 | 10/29/2010    |         |                                                           | 40,489 |   |   |   | 121,470 |   |   |   | 30.56 |   | 10/29/2020 |   | 10/29/2010 |   |   | 60,709 |   |   |   | 2,554,635 | (1a) |   |   |   |   |   |   |   |
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   |   |   |   | 11/1/2011 |   |   | 101,075 |   |   |   | 4,253,236 | (1a) |   |   |   |   |   |   |   |
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   |   |   |   | 11/1/2011 |   |   | 2,350,000 |   |   |   | 2,350,000 | (1b) | 11/1/2011 |   |   | 7,050,000 |   |   |   | 7,050,000 |   |
| Total                |          |         |                                                           | 1,306,275 |   |   |   | 251,901 |   |   |   |   |   |   |   |   |   |   | 2,590,859 |   |   |   | 12,485,347 |   |   |   |   | 7,050,000 |   |   |   | 7,050,000 |   |
| Brian K. Ferraioli   | 8/1/2007      |         |                                                           | 21,231 |   |   |   | — |   |   |   | 48.99 |   | 8/1/2017 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                 | 12/7/2007     |         |                                                           | 15,347 |   |   |   | — |   |   |   | 67.19 |   | 12/7/2017 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                 | 10/31/2008    |         |                                                           | 42,616 |   |   |   | 10,481 |   |   |   | 17.89 |   | 10/31/2018 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   |   |   |   | 1/28/2009 |   |   | 8,091 |   |   |   | 340,469 | (1a) |   |   |   |   |   |   |   |   |   |
|                 | 10/29/2009    |         |                                                           | 21,957 |   |   |   | 21,957 |   |   |   | 27.79 |   | 10/29/2019 |   | 10/29/2009 |   |   | 13,258 |   |   |   | 557,897 | (1a) |   |   |   |   |   |   |   |   |   |
|                 | 10/29/2010    |         |                                                           | 12,060 |   |   |   | 36,183 |   |   |   | 30.56 |   | 10/29/2020 |   | 10/29/2010 |   |   | 18,084 |   |   |   | 760,975 | (1a) |   |   |   |   |   |   |   |   |   |
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   |   |   |   | 11/1/2011 |   |   | 30,108 |   |   |   | 1,266,945 | (1a) |   |   |   |   |   |   |   |   |   |
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   |   |   |   | 11/1/2011 |   |   | 700,000 |   |   |   | 700,000 | (1b) | 11/1/2011 |   |   | 2,100,000 |   |   |   | 2,100,000 |   |
| Total                |          |         |                                                           | 113,211 |   |   |   | 68,621 |   |   |   |   |   |   |   |   |   |   | 769,541 |   |   |   | 3,626,286 |   |   |   |   | 2,100,000 |   |   |   | 2,100,000 |   |
| David L. Chapman Sr. | 12/7/2007     |         |                                                           | 17,265 |   |   |   | — |   |   |   | 67.19 |   | 12/7/2017 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                 | 10/31/2008    |         |                                                           | 14,482 |   |   |   | 14,482 |   |   |   | 17.89 |   | 10/31/2018 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   |   |   |   | 1/28/2009 |   |   | 8,826 |   |   |   | 371,398 | (1a) |   |   |   |   |   |   |   |   |   |
|                 | 10/29/2009    |         |                                                           | 9,410 |   |   |   | 18,820 |   |   |   | 27.79 |   | 10/29/2019 |   | 10/29/2009 |   |   | 11,364 |   |   |   | 478,197 | (1a) |   |   |   |   |   |   |   |   |   |
|                 | 10/29/2010    |         |                                                           | 10,337 |   |   |   | 31,014 |   |   |   | 30.56 |   | 10/29/2020 |   | 10/29/2010 |   |   | 15,501 |   |   |   | 652,282 | (1a) |   |   |   |   |   |   |   |   |   |
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   |   |   |   | 11/1/2011 |   |   | 25,806 |   |   |   | 1,085,916 | (1a) |   |   |   |   |   |   |   |   |   |
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   |   |   |   | 11/1/2011 |   |   | 600,000 |   |   |   | 600,000 | (1b) | 11/1/2011 |   |   | 1,800,000 |   |   |   | 1,800,000 |   |
| Total                |          |         |                                                           | 51,494 |   |   |   | 64,316 |   |   |   |   |   |   |   |   |   |   | 661,497 |   |   |   | 3,187,793 |   |   |   |   | 1,800,000 |   |   |   | 1,800,000 |   |
| George P. Bevan      | 11/1/2006     |         |                                                           | 2,232 |   |   |   | — |   |   |   | 26.70 |   | 11/1/2016 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                 | 12/7/2007     |         |                                                           | 2,302 |   |   |   | — |   |   |   | 67.19 |   | 12/7/2017 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                 | 10/31/2008    |         |                                                           | 27,152 |   |   |   | 9,051 |   |   |   | 17.89 |   | 10/31/2018 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   |   |   |   | 1/28/2009 |   |   | 5,517 |   |   |   | 232,155 | (1a) |   |   |   |   |   |   |   |   |   |
|                 | 10/29/2009    |         |                                                           | 13,331 |   |   |   | 13,331 |   |   |   | 27.79 |   | 10/29/2019 |   | 10/29/2009 |   |   | 8,049 |   |   |   | 338,702 | (1a) |   |   |   |   |   |   |   |   |   |
|                 | 10/29/2010    |         |                                                           | 7,322 |   |   |   | 21,968 |   |   |   | 30.56 |   | 10/29/2020 |   | 10/29/2010 |   |   | 10,980 |   |   |   | 462,038 | (1a) |   |   |   |   |   |   |   |   |   |
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   |   |   |   | 11/1/2011 |   |   | 18,280 |   |   |   | 769,222 | (1a) |   |   |   |   |   |   |   |   |   |
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   |   |   |   | 11/1/2011 |   |   | 425,000 |   |   |   | 425,000 | (1b) | 11/1/2011 |   |   | 1,275,000 |   |   |   | 1,275,000 |   |
| Total                |          |         |                                                           | 52,339 |   |   |   | 44,350 |   |   |   |   |   |   |   |   |   |   | 467,826 |   |   |   | 2,227,117 |   |   |   |   | 1,275,000 |   |   |   | 1,275,000 |   |
| Eli Smith            | 6/1/2009      |         |                                                           | 5,602 |   |   |   | 1,868 |   |   |   | 29.00 |   | 6/1/2019 |   | 6/1/2009 |   |   | 1,362 |   |   |   | 57,313 | (1a) |   |   |   |   |   |   |   |   |   |
|                 | 10/29/2009    |         |                                                           | 2,744 |   |   |   | 2,745 |   |   |   | 27.79 |   | 10/29/2019 |   | 10/29/2009 |   |   | 1,657 |   |   |   | 69,727 | (1a) |   |   |   |   |   |   |   |   |   |
|                 | 10/29/2010    |         |                                                           | 4,738 |   |   |   | 14,215 |   |   |   | 30.56 |   | 10/29/2020 |   | 10/29/2010 |   |   | 7,104 |   |   |   | 298,936 | (1a) |   |   |   |   |   |   |   |   |   |
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   |   |   |   | 11/1/2011 |   |   | 13,661 |   |   |   | 574,855 | (1a) |   |   |   |   |   |   |   |   |   |
|                 |          |         |                                                           |   |   |   |   |   |   |   |   |   |   |   |   | 11/1/2011 |   |   | 317,624 |   |   |   | 317,624 | (1b) | 11/1/2011 |   |   | 952,876 |   |   |   | 952,876 |   |
| Total                |          |         |                                                           | 13,084 |   |   |   | 18,828 |   |   |   |   |   |   |   |   |   |   | 341,408 |   |   |   | 1,318,455 |   |   |   |   | 952,876 |   |   |   | 952,876 |   |

----

| (1)    | These columns include unvested RSUs as well as earned but unvested PCUs at August 31, 2012. (a) The market value of RSUs was determined by multiplying the number of unvested shares of stock by $42.08, the closing market price of our common stock on August 31, 2012, the last trading day of our fiscal year. (b) The market value of PCUs was determined by multiplying the number of earned but unvested PCUs by one dollar, the value that will be paid out in cash for each earned PCU. See Note 3 below for additional details on the vesting of PCUs. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| (2)    | The number and payout value of unearned/unvested PCUs was determined using the maximum level (200% of the target award) based on our fiscal year 2012 performance. The payout value of PCUs was calculated by multiplying the maximum number of PCUs as of 8/31/12 by one dollar, the value that will be paid in cash for each earned PCU. See Note 3 below for additional details on the vesting of PCUs.                                                                                                                                                                 |

| (3) | The outstanding stock options and RSUs at August 31, 2012 vest according to the following vesting schedules: |
|-----|--------------------------------------------------------------------------------------------------------------|

| Grant Date | Vesting Dates – Option Awards |
|------------|-------------------------------------|
| 10/10/2003 | 10/10/2004                          | 10/10/2005 | 10/10/2006 | 10/10/2007 |
| 10/13/2004 | 10/13/2005                          | 10/13/2006 | 10/13/2007 | 10/13/2008 |
| 10/13/2005 | 10/13/2006                          | 10/13/2007 | 10/13/2008 | 10/13/2009 |
| 11/01/2006 | 11/01/2007                          | 11/01/2008 | 11/01/2009 | 11/01/2010 |
| 08/01/2007 | 08/01/2008                          | 08/01/2009 | 08/01/2010 | 08/01/2011 |
| 12/07/2007 | 01/01/2009                          | 01/01/2010 | 01/01/2011 | 01/01/2012 |
| 10/31/2008 | 01/01/2010                          | 01/01/2011 | 01/01/2012 | 01/01/2013 |
| 06/01/2009 | 06/01/2010                          | 06/01/2011 | 06/01/2012 | 06/01/2013 |
| 10/05/2009 | 10/05/2010                          | 10/05/2011 | 10/05/2012 | 10/05/2013 |
| 10/29/2009 | 01/01/2011                          | 01/01/2012 | 01/01/2013 | 01/01/2014 |
| 10/29/2010 | 01/01/2012                          | 01/01/2013 | 01/01/2014 | 01/01/2015 |

| Grant Date | Vesting Dates – Stock Awards (RSUs) |
|------------|-------------------------------------------|
| 01/28/2009 | 01/01/2010                                | 01/01/2011 | 01/01/2012 | 01/01/2013 |
| 06/01/2009 | 06/01/2010                                | 06/01/2011 | 06/01/2012 | 06/01/2013 |
| 10/05/2009 | 10/05/2010                                | 10/05/2011 | 10/05/2012 | 10/05/2013 |
| 10/29/2009 | 01/01/2011                                | 01/01/2012 | 01/01/2013 | 01/01/2014 |
| 10/29/2010 | 01/01/2012                                | 01/01/2013 | 01/01/2014 | 01/01/2015 |
| 11/01/2011 | 11/01/2012                                | 11/01/2013 | 11/01/2014 |   |

| Performance Cycle       | Performance Cycle End Date | Vesting Date           | Percentage of Target Award that can be Earned |
|-------------------------|----------------------------|------------------------|-----------------------------------------------|
| Fiscal Year 2012        | 8/31/12                    | 10/22/2012 (Actual)    | 25%                                           |
| Fiscal Year 2012 - 2013 | 8/31/13                    | 11/01/2013 (Projected) | 25%                                           |
| Fiscal Year 2012 - 2014 | 8/31/14                    | 11/01/2014 (Projected) | 50%                                           |

----

|                  | Stock Awards                           |
|-----------------------|----------------------------------------|
|   Name      | Number of SharesAcquired onVesting (#) |  Value Realized onVesting ($) (1) |
| J. M. Bernhard, Jr.   | 123,664                                | 3,326,562 |
| Brian K. Ferraioli    | 31,284                                 | 841,540 |
| David L. Chapman, Sr. | 43,659                                 | 1,174,427 |
| George P. Bevan       | 18,797                                 | 505,639 |
| Eli Smith             | 4,558                                  | 120,065 |

| (1) | The value realized upon the vesting of RSUs is the number of shares acquired on vesting multiplied by the closing market price of our common stock on the vesting date. Upon the vesting of RSUs, shares may have been surrendered to satisfy income tax withholding requirements upon election by the employee. The amounts shown and the value realized do not give effect to the surrender of shares to cover such tax withholding obligations. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Fund Name                                                    | Rate of Return |
|--------------------------------------------------------------|----------------|
| PIMCO Total Return Institutional                             | 8.62           |
| Vanguard Institutional Index Fund                            | 17.98          |
| Vanguard Inflation-Protected Securities Fund Investor Shares | 8.43           |
| American Funds Growth Fund of America                        | 13.51          |
| American Funds EuroPacific Growth                            | 1.48           |
| Westwood SMidCap Institutional Fund                          | 7.43           |
| FFI Government Fund                                          | 0.01           |
| JP Morgan Short Duration Bond Select                         | 1.62           |
| MFS Institutional Large Cap Value                            | 16.29          |
| Dreyfus/The Boston Company Small/Mid Cap Growth Fund         | 21.57          |
| Vanguard Extended Market Index Institutional Fund            | 13.28          |
| Vanguard Total Bond Market Fund                              | 5.85           |
| Vanguard FTSE All-World ex-US Index Institutional            | -1.98          |
| Vanguard Target Income Retirement                            | 8.02           |
| Vanguard 2010 Target Retirement                              | 8.82           |
| Vanguard 2015 Target Retirement                              | 9.19           |
| Vanguard 2020 Target Retirement                              | 9.56           |
| Vanguard 2025 Target Retirement                              | 9.85           |
| Vanguard 2030 Target Retirement                              | 10.18          |
| Vanguard 2035 Target Retirement                              | 10.45          |
| Vanguard 2040 Target Retirement                              | 10.54          |
| Vanguard 2045 Target Retirement                              | 10.57          |
| Vanguard 2050 Target Retirement                              | 10.56          |
| Vanguard 2055 Target Retirement                              | 10.58          |

----

|                                         | ExecutiveContributionsin LastFiscal Year                            | RegistrantContributionsin LastFiscal Year                           | AggregateEarningsin LastFiscal Year                                 | AggregateWithdrawals/Distributions                                  | AggregateBalanceat LastFiscal Year End                                |
|----------------------------------------------|---------------------------------------------------------------------|---------------------------------------------------------------------|---------------------------------------------------------------------|---------------------------------------------------------------------|-----------------------------------------------------------------------|
| Name                                         | ($)                                                                 | ($)(1)                                                              | ($)(2)                                                              | ($)                                                                 | ($)(3)                                                                |
| J. M. Bernhard, Jr.                          |                                                                |                                                                |                                                                |                                                                |                                                                  |
|    Deferred Compensation Plan |           — |           — |           — |           — |           —   |
|    SERP                       |           — |           — | 258,470                                                             |           — | 18,739,816                                                            |
| Brian K. Ferraioli                           |                                                                |                                                                |                                                                |                                                                |                                                                  |
|    Deferred Compensation Plan |           — | 1,000,000                                                           | 66,654                                                              |           — |           1,066,654 |
| David L. Chapman, Sr.                        |                                                                |                                                                |                                                                |                                                                |                                                                  |
|    Deferred Compensation Plan |           — |           — |           — |           — |           —   |
| George P. Bevan                              |                                                                |                                                                |                                                                |                                                                |                                                                  |
|    Deferred Compensation Plan |           — | 750,000                                                             | 73,554                                                              |           — |           823,554   |
| Eli Smith                                    |                                                                |                                                                |                                                                |                                                                |                                                                  |
|    Deferred Compensation Plan |           — |          750,000       | 82,220                                                              |           — | 1,110,867                                                             |

| (1)    | These amounts are reflected in the “All Other Compensation” column of the Summary Compensation Table.                                                                                                                                                                                                                                                                                                                |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                             |
| (2)    | None of the earnings in this column are included in the Summary Compensation Table because they were not preferential or above-market.                                                                                                                                                                                                                                                                                           |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                             |
| (3)    | See the “Nonqualified Deferred Compensation” narrative above for additional information on the amounts awarded to Messrs. Bernhard, Ferraioli and Bevan. For Mr. Smith, in addition to the $750,000 contribution described above, Mr. Smith’s aggregate balance also includes $200,000, plus earnings, related to amounts awarded upon hire in fiscal year 2009. Mr. Smith was not an NEO in fiscal year 2009. |

----

|   | (a) | an annual base salary as set by our Board, which may be increased on an annual basis by our Board at its discretion, but may not be decreased without Mr. Bernhard’s consent; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | discretionary annual cash incentive compensation under any such program established by us, including the MIP, or, in the absence of or in addition to any such program, annual cash incentive compensation as determined by our Board; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | participation in our discretionary long-term equity incentive plans; |
|--------|-----|----------------------------------------------------------------------|

|   | (d) | other benefits including country club memberships and initiation fees, an automobile and a mid-size jet aircraft for his use; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | reasonable paid vacation at Mr. Bernhard’s discretion, but not less than five weeks of vacation per year, with unlimited carryover; and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | participation in our various employee benefit plans or programs that we provide to our employees in general. |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

|   | (a) | an annual base salary in the amount of Mr. Ferraioli’s base salary as of the effective date, which may be increased on an annual basis by our Board at its discretion, but may not be decreased without Mr. Ferraioli’s consent; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | participation in our MIP, with an annual performance award range of 0% to 200% of his MIP target, which was initially 100% of his annual base salary, and for fiscal year 2012 was $800,000; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | participation in our discretionary long-term equity incentive plans, with a target award that was valued in the range of 100% to 200% of his annual base salary as of the effective date of his agreement, and for fiscal year 2012 was $1,400,000; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | initiation fee for a country club membership (not used to date); |
|--------|-----|------------------------------------------------------------------|

|   | (e) | participation in our Flex Program; |
|--------|-----|------------------------------------|

|   | (f) | four weeks of paid vacation per year with unlimited carryover; and |
|--------|-----|--------------------------------------------------------------------|

|   | (g) | participation in our various employee benefit plans or programs that we provide to our employees in general. |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

----

|   | (a) | an annual base salary during the initial term in the amount of Mr. Chapman’s current base salary as of the effective date, which may be increased on an annual basis by the Company at its discretion, but may not be decreased without Mr. Chapman’s consent; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | a part-time salary during the Part-Time Employment Period of $450,000 per year, as well as $400 per hour for each hour worked in excess of 20 hours in any week during the Part-Time Employment Period; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | participation in our MIP during both the initial term and the Part-Time Employment Period with an annual performance award range of 0% to 200% of his MIP target, which was 133% of his annual base salary for fiscal year 2012, or  $1,000,000; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | participation in our discretionary long-term equity incentive plans during both the initial term and the Part-Time Employment Period, with a target award that was valued in the range of 100% to 200% of his annual base salary as of the effective date of his agreement, and for fiscal year 2012 was $1,200,000; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | reimbursement of operating expenses incurred by Mr. Chapman for the use of his personal aircraft for Company-approved business during both the initial term and the Part-Time Employment Period; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | initiation fee for a country club membership; |
|--------|-----|-----------------------------------------------|

|   | (g) | participation in our Flex Program; |
|--------|-----|------------------------------------|

|   | (h) | four weeks of paid vacation per year with unlimited carryover during both the initial term and Part-Time Employment Period; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | participation in our various employee benefit plans or programs that we provide to our employees in general, during both the initial term and the Part-Time Employment Period. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | an annual base salary in the amount of Mr. Bevan’s base salary as of the effective date, which may be increased on an annual basis by our Board at its discretion, but may not be decreased without Mr. Bevan’s consent; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | participation in our MIP, with an annual performance award range of 0% to 200% of his MIP target, which was initially 80% of his annual base salary, and for fiscal year 2012 was $615,000; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | participation in our discretionary long-term equity incentive plans; |
|--------|-----|----------------------------------------------------------------------|

|   | (d) | four weeks of paid vacation per year with unlimited carryover, of which the unused portion shall be paid to Mr. Bevan at the end of the term; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | participation in our various employee benefit plans or programs that we provide to our employees in general. |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

----

|   | (a) | participation in our MIP, with an annual performance award range of 0% to 200% of his MIP target, which was initially 70% of his base salary and for fiscal year 2012 was $615,833; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | participation in our discretionary long-term equity incentive plans, with a target award that was initially valued at 50% of his annual base salary, and for fiscal year 2012 was $635,250; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | four weeks of paid vacation per year in accordance with company policy; and |
|--------|-----|-----------------------------------------------------------------------------|

|   | (d) | participation in our various employee benefit plans or programs that we provide to our employees in general. |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

----

| (a)   | An amount equal to a combination of his base salary and cash incentive compensation: (1) Mr. Bernhard receives an amount equal to three times the sum of his base salary in effect immediately prior to termination plus his highest cash incentive compensation paid by us during the three years prior to termination; (2) Mr. Ferraioli receives an amount equal to two times the sum of his base salary in effect immediately prior to termination plus his most recent annual MIP cash incentive compensation paid by us; (3) Mr. Chapman receives an amount equal to two times his base salary in effect immediately prior to his termination if triggered during the initial term or three times his Part-Time Employment Period salary if triggered during the Part-Time Employment Period (as discussed above under “Employment Agreements”), plus his highest annual cash incentive compensation paid by us during the two years prior to termination; and (4) Mr. Bevan receives his base salary in effect immediately prior to termination plus his most recent annual MIP cash incentive compensation paid by us, both multiplied by the remaining term per his agreement. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | An amount necessary to cover the cost to obtain life, long-term disability, accidental death and dismemberment, health, dental and vision insurance benefits (health and welfare benefits) covering the executive (and, as applicable, his spouse and dependents) that are substantially similar to those that he was receiving immediately prior to termination: (1) Mr. Bernhard receives an amount necessary to cover these costs for a three-year period commencing on the date of termination; (2) Messrs. Ferraioli and Bevan receive an amount necessary to cover these costs for a period commencing on the date of termination and ending on the earlier to occur of (A) a fixed period of time following the executive’s termination, which for Mr. Ferraioli is 24 months, and for Mr. Bevan is 18 months, or (B) in the event that the Company or the executive has given notice to fix the employment agreement term, the remaining portion of the term; and (3) Mr. Chapman receives an amount necessary to cover these costs for an 18 month period commencing on the date of termination. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | For Mr. Bernhard alone, a lump sum payment related to his SERP (as discussed above under “Nonqualified Deferred Compensation”), the use of a mid-size jet aircraft for 150 hours per year for the next ten years and a lump sum equal to the amount necessary to obtain for a three-year period following termination other benefits (including country club dues, automobile allowance and a flexible perquisite benefit) that are substantially similar to those that he was receiving immediately prior to termination. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   (a)    | Monthly payments equal to the amount by which the executive’s monthly base salary immediately prior to termination exceeds the monthly benefit received pursuant to any disability insurance covering him; the applicable term of payment is 12 months for Messrs. Bernhard, Chapman and Bevan and 24 months for Mr. Ferraioli. Mr. Chapman’s employment agreement provides these monthly payments only if he executes a severance agreement and release in which he waives the right to sue the Company for claims relating to his employment. |
|-------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   (b)   | For Messrs. Bernhard, Ferraioli and Bevan, a lump sum payment within 15 days of the executive’s termination equal to the cost to obtain health and dental insurance benefits covering the executive (and, as applicable, his spouse and dependents) that are substantially similar to those that the executive was receiving immediately prior to termination. The amount we pay should cover a period of 30 months for Mr. Bernhard; for Messrs. Ferraioli and Bevan, the period shall begin with the termination date and end with the earlier to occur of (1) a fixed period of time following the date of termination, 24 months for Mr. Ferraioli, or 18 months for Mr. Bevan, or (2) in the event that the Company or the executive has given notice to fix the employment agreement term, the remaining portion of the term. |
|------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   (c)   | For Mr. Bernhard alone, on or before the later to occur of either the fifteenth day following the day we typically grant annual MIP cash incentive compensation awards or February 28th of the year following his termination, a pro-rata MIP cash incentive compensation payment in the amount Mr. Bernhard would have otherwise been entitled to receive under the terms of the applicable incentive plans. Mr. Bernhard is also entitled to a lump sum payment equal to the value in his SERP (as discussed above under “Nonqualified Deferred Compensation”) as well as the use of a mid-size jet aircraft for 150 hours per year for the next ten years. |
|------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | The employment agreements between the NEOs and us, which are summarized under “Employment Agreements” and above. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------|

|   | · | Our long-term equity incentive plans, which are summarized below, and the related long-term incentive award agreements between the NEOs and us. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Our Deferred Compensation Plan, which is summarized under “Nonqualified Deferred Compensation” above. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------|

|   | · | Employment Agreements — The compensation and benefits associated with a resignation for a Corporate Change are set forth in each individual employment agreement. The agreements for Messrs. Bernhard and Ferraioli provide these executives with an election to terminate employment for a Corporate Change. Messrs. Chapman and Bevan may also terminate employment for a Corporate Change but only if they are not retained in their current or a comparable position. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Long-Term Equity Incentive Plans — The 2001 Incentive Plan and Omnibus Plan and related agreements address the benefits that our executives are entitled to receive in connection with a Change in Control (as defined below) without termination. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Non-Qualified Deferred Compensation Plan – The Deferred Compensation Plan addresses the benefits that our executives are entitled to receive in connection with a Change in Control (as defined above under “Nonqualified Deferred Compensation) without termination. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | “Retirement” shall mean the participant’s voluntary retirement on or after the participant’s normal retirement date as determined by the Compensation Committee in its sole discretion. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | “Disability” shall mean the inability of the participant to engage in any substantial, gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of 12 months or more. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | “Change in Control” shall mean the occurrence of any of the following events: (1) any “person” or “group” as defined in the Exchange Act, as amended, but excluding any 10% or larger shareholder of record, directly or indirectly, becomes the “beneficial owner” (as defined in the Exchange Act, as amended) of our securities representing 20% or more of the combined voting power of all of our then outstanding securities which are entitled to vote with respect to the election of our Board; (2) during a period of 24 consecutive months, the individuals who, at the beginning of such period, constitute our Board cease for any reasons other than death or disability to constitute a majority of our Board (unless the individual was elected by or with the recommendation of at least two-thirds of the directors of our Board at the beginning of such 24-month period); (3) an entity other than us or a subsidiary of us acquires all or substantially all of our assets; or (4) we file a report or a proxy statement with the SEC disclosing that a change in control may have, has, or will occur. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | “Change in Control” shall mean the occurrence of any of the following events: (1) any person becomes the beneficial owner of 50% or more of our voting securities; (2) any person acquires assets from us that have a total gross fair market value equal to or more than 75% of the total gross fair market value of all our assets immediately prior to such acquisition; or (3) our directors cease to constitute a majority of our Board during any given twelve-month period unless a majority of the directors in office at the beginning of that period approved the nomination of any new director. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Executive and Compensation Element                       |   |   | VoluntaryResignation,includingRetirement |   |   |   | Resignation byExecutive forGood Reason or Termination by the Company (other than for Misconduct or Disability) |   |   |   | Terminationby the Company forMisconduct |   |   |   | Death  |   |   |   | Disability  |   |   |   | Resignation by Executive in Connection with a Change in Control (15) |   |
|----------------------------------------------------------|--------|--------|------------------------------------------|--------|--------|--------|----------------------------------------------------------------------------------------------------------------|--------|--------|--------|-----------------------------------------|--------|--------|--------|-------------|--------|--------|--------|------------------|--------|--------|--------|----------------------------------------------------------------------|--------|
| J. M. Bernhard, Jr.                                      |   |   |                                     |   |   |   |                                                                                                           |   |   |   |                                    |   |   |   |        |   |   |   |             |   |   |   |                                                                 |   |
| Base salary                                              |   | $      | —                                  |   |   | $      | 6,000,000                                                                                                      | (2)    |   | $      | —                                 |   |   | $      | 2,000,000   | (3)    |   | $      | 1,880,000        | (4)    |   | $      | 6,000,000                                                            | (2)    |
| Incentive compensation                                   |   |   | —                                  |   |   |   | 19,800,000                                                                                                     | (5)    |   |   | —                                 |   |   |   | 6,600,000   | (6)    |   |   | 3,300,000        | (6)    |   |   | 19,800,000                                                           | (5)    |
| Insurance proceeds and benefits                          |   |   | —                                  |   |   |   | —                                                                                                        |   |   |   | —                                 |   |   |   | 2,250,000   | (7)    |   |   | 2,292,197        | (8)    |   |   | —                                                              |   |
| Continuing health & welfare benefits                 |   |   | —                                  |   |   |   | 65,556                                                                                                         | (9)    |   |   | —                                 |   |   |   | 28,812      | (10)   |   |   | 49,831           | (11)   |   |   | 65,556                                                               | (9)    |
| Accelerated vesting of RSUs, stock options and PCUs (12) |   |   | —                                  |   |   |   | 23,360,048                                                                                                     |   |   |   | —                                 |   |   |   | 23,360,048  |   |   |   | 23,360,048       |   |   |   | 23,360,048                                                           |   |
| SERP (13)                                                |   |   | —                                  |   |   |   | —                                                                                                        |   |   |   | —                                 |   |   |   | —     |   |   |   | —          |   |   |   | —                                                              |   |
| Other benefits                                           |   |   | 4,873,000                                | (14)   |   |   | 5,230,660                                                                                                      | (14)   |   |   | —                                 |   |   |   | —     |   |   |   | 4,873,000        | (14)   |   |   | 5,230,660                                                            | (14)   |
| TOTAL                                                    |   | $      | 4,873,000                                |   |   | $      | 54,456,264                                                                                                     |   |   | $      | —                                 |   |   | $      | 34,238,860  |   |   | $      | 35,755,076       |   |   | $      | 54,456,264                                                           |   |
| Brian K. Ferraioli                                       |   |   |                                     |   |   |   |                                                                                                           |   |   |   |                                    |   |   |   |        |   |   |   |             |   |   |   |                                                                 |   |
| Base salary                                              |   | $      | —                                  |   |   | $      | 1,300,000                                                                                                      | (2)    |   | $      | —                                 |   |   | $      | —     |   |   | $      | 1,056,000        | (4)    |   | $      | 1,300,000                                                            | (2)    |
| Incentive compensation                                   |   |   | —                                  |   |   |   | 3,200,000                                                                                                      | (5)    |   |   | —                                 |   |   |   | —     |   |   |   | —          |   |   |   | 3,200,000                                                            | (5)    |
| Insurance proceeds and benefits                          |   |   | —                                  |   |   |   | —                                                                                                        |   |   |   | —                                 |   |   |   | 2,250,000   | (7)    |   |   | 2,435,113        | (8)    |   |   | —                                                              |   |
| Continuing health & welfare benefits                 |   |   | —                                  |   |   |   | 31,440                                                                                                         | (9)    |   |   | —                                 |   |   |   | 8,066       | (10)   |   |   | 27,597           | (11)   |   |   | 31,440                                                               | (9)    |
| Accelerated vesting of RSUs, stock options and PCUs (12) |   |   | —                                  |   |   |   | 6,710,415                                                                                                      |   |   |   | —                                 |   |   |   | 6,710,415   |   |   |   | 6,710,415        |   |   |   | 6,710,415                                                            |   |
| Nonqualified deferred compensation (16)                  |   |   | —                                  |   |   |   | —                                                                                                        |   |   |   | —                                 |   |   |   | 1,066,654   |   |   |   | 1,066,654        |   |   |   | 1,066,654                                                            |   |
| Reimbursement of Excise Tax and Gross-Up (17)            |   |   | —                                  |   |   |   | —                                                                                                        |   |   |   | —                                 |   |   |   | —     |   |   |   | —          |   |   |   | 2,699,861                                                            |   |
| TOTAL                                                    |   | $      | —                                  |   |   | $      | 11,241,855                                                                                                     |   |   | $      | —                                 |   |   | $      | 10,035,135  |   |   | $      | 11,295,779       |   |   | $      | 15,008,370                                                           |   |
| David L. Chapman, Sr. (1)                                |   |   |                                     |   |   |   |                                                                                                           |   |   |   |                                    |   |   |   |        |   |   |   |             |   |   |   |                                                                 |   |
| Base salary                                              |   | $      | —                                  |   |   | $      | 1,500,000                                                                                                      | (2)    |   | $      | —                                 |   |   | $      | —     |   |   | $      | 626,000          | (4)    |   | $      | 1,500,000                                                            | (2)    |
| Incentive compensation                                   |   |   | —                                  |   |   |   | 1,000,000                                                                                                      | (5)    |   |   | —                                 |   |   |   | —     |   |   |   | —          |   |   |   | 1,000,000                                                            | (5)    |
| Insurance proceeds and benefits                          |   |   | —                                  |   |   |   | —                                                                                                        |   |   |   | —                                 |   |   |   | 2,250,000   | (7)    |   |   | 1,740,000        | (8)    |   |   | —                                                              |   |
| Continuing health & welfare benefits                 |   |   | —                                  |   |   |   | 23,994                                                                                                         | (9)    |   |   | —                                 |   |   |   | 12,374      | (10)   |   |   | —          |   |   |   | 23,994                                                               | (9)    |
| Accelerated vesting of RSUs, stock options and PCUs (12) |   |   | 371,398                                  |   |   |   | 5,964,333                                                                                                      |   |   |   | —                                 |   |   |   | 721,718     |   |   |   | 5,614,013        |   |   |   | 5,964,333                                                            |   |
| TOTAL                                                    |   | $      | 371,398                                  |   |   | $      | 8,488,327                                                                                                      |   |   | $      | —                                 |   |   | $      | 2,984,092   |   |   | $      | 7,980,013        |   |   | $      | 8,488,327                                                            |   |
| George P. Bevan                                          |   |   |                                     |   |   |   |                                                                                                           |   |   |   |                                    |   |   |   |        |   |   |   |             |   |   |   |                                                                 |   |
| Base salary                                              |   | $      | —                                  |   |   | $      | 1,230,000                                                                                                      | (2)    |   | $      | —                                 |   |   | $      | —     |   |   | $      | 491,000          | (4)    |   | $      | 1,230,000                                                            | (2)    |
| Incentive compensation                                   |   |   | —                                  |   |   |   | 922,500                                                                                                        | (5)    |   |   | —                                 |   |   |   | —     |   |   |   | —          |   |   |   | 922,500                                                              | (5)    |
| Insurance proceeds and benefits                          |   |   | —                                  |   |   |   | —                                                                                                        |   |   |   | —                                 |   |   |   | 2,250,000   | (7)    |   |   | 1,800,000        | (8)    |   |   | —                                                              |   |
| Continuing health & welfare benefits                 |   |   | —                                  |   |   |   | 23,994                                                                                                         | (9)    |   |   | —                                 |   |   |   | 8,249       | (10)   |   |   | 21,114           | (11)   |   |   | 23,994                                                               | (9)    |
| Accelerated vesting of RSUs, stock options and PCUs (12) |   |   | —                                  |   |   |   | 4,164,633                                                                                                      |   |   |   | —                                 |   |   |   | 4,164,633   |   |   |   | 4,164,633        |   |   |   | 4,164,633                                                            |   |
| Nonqualified deferred compensation (16)                  |   |   | —                                  |   |   |   | —                                                                                                        |   |   |   | —                                 |   |   |   | 823,554     |   |   |   | 823,554          |   |   |   | 823,554                                                              |   |
| Reimbursement of Excise Tax and Gross-Up (17)            |   |   | —                                  |   |   |   | —                                                                                                        |   |   |   | —                                 |   |   |   | —     |   |   |   | —          |   |   |   | 1,332,198                                                            |   |
| TOTAL                                                    |   | $      | —                                  |   |   | $      | 6,341,127                                                                                                      |   |   | $      | —                                 |   |   | $      | 7,246,436   |   |   | $      | 7,300,301        |   |   | $      | 8,496,879                                                            |   |
| Eli Smith                                                |   |   |                                     |   |   |   |                                                                                                           |   |   |   |                                    |   |   |   |        |   |   |   |             |   |   |   |                                                                 |   |
| Base salary                                              |   | $      | —                                  |   |   | $      | —                                                                                                        |   |   | $      | —                                 |   |   | $      | —     |   |   | $      | —          |   |   | $      | —                                                              |   |
| Incentive compensation                                   |   |   | —                                  |   |   |   | —                                                                                                        |   |   |   | —                                 |   |   |   | —     |   |   |   | —          |   |   |   | —                                                              |   |
| Insurance proceeds and benefits                          |   |   | —                                  |   |   |   | —                                                                                                        |   |   |   | —                                 |   |   |   | 2,250,000   | (7)    |   |   | 1,500,000        | (8)    |   |   | —                                                              |   |
| Continuing health & welfare benefits                 |   |   | —                                  |   |   |   | —                                                                                                        |   |   |   | —                                 |   |   |   | —     |   |   |   | —          |   |   |   | —                                                              |   |
| Accelerated vesting of RSUs, stock options and PCUs (12) |   |   | —                                  |   |   |   | —                                                                                                        |   |   |   | —                                 |   |   |   | 2,474,314   |   |   |   | 2,498,747        |   |   |   | 1,228,247                                                            |   |
| Nonqualified deferred compensation (16)                  |   |   | —                                  |   |   |   | —                                                                                                        |   |   |   | —                                 |   |   |   | 1,110,867   |   |   |   | 1,110,867        |   |   |   | 1,110,867                                                            |   |
| TOTAL                                                    |   | $      | —                                  |   |   | $      | —                                                                                                        |   |   | $      | —                                 |   |   | $      | 5,835,181   |   |   | $      | 5,109,614        |   |   | $      | 2,339,114                                                            |   |

----

| (1) | For Mr. Chapman, we are assuming that the Part-Time Employment Period (as discussed above under “Employment Agreements”) has not already commenced, as three months’ written notice would be required and no such notice had been received as of August 31, 2012, and therefore that his termination occurred during the initial term of his agreement. We are also assuming that he executed a severance agreement and release, waiving his right to sue the Company for claims relating to his employment, as required by his employment agreement, in exchange for certain severance payments and benefits. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)    | Represents a lump sum payment of the NEO’s base salary at August 31, 2012, multiplied by the following:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | –Mr. Bernhard: A fixed amount of three. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | –Mr. Ferraioli:   A fixed amount of two. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | –Mr. Chapman:  A fixed amount of two.–Mr. Bevan:        The remaining term of his employment agreement – 2 years. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (3)    | For Mr. Bernhard, represents a lump sum payment of one year of the NEO’s annual base salary at August 31, 2012.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (4)    | Represents monthly payments of the amount by which the NEO’s monthly base salary exceeds the monthly benefit received pursuant to any disability insurance. The monthly benefit for short-term disability insurance is calculated as 66.6% of each participant’s base salary, with a maximum weekly benefit of $3,000. The monthly benefit for long-term disability insurance is calculated as 60% of each participant’s base salary, with a maximum monthly benefit of $10,000. Monthly payments will be made for a period of one year for Mr. Bernhard, Mr. Chapman and Mr. Bevan and for a period of two years for Mr. Ferraioli.                                                                                                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (5)    | For Mr. Bernhard, represents a lump sum payment of the highest cash incentive compensation paid in the last three fiscal years multiplied by three. For Mr. Ferraioli, represents a lump sum payment of the most recent annual MIP cash incentive compensation paid multiplied by two. For Mr. Chapman, represents a lump sum payment of the highest annual cash incentive compensation paid during the two-year period prior to termination. For Mr. Bevan, represents a lump sum payment of the most recent annual MIP cash incentive compensation paid multiplied by the remaining term of his agreement, as noted in (1) above.                                                                                                                                                                  |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (6)    | In the event of Mr. Bernhard’s death, represents a lump sum payment of the full amount expected to be paid for fiscal year 2012 performance under our MIP. In the event of Mr. Bernhard’s disability, represents a lump sum payment of half of the amount expected to be paid for fiscal year 2012 performance under our MIP. As described above, in order for us to have terminated Mr. Bernhard on August 31, 2012, for Disability, he must have been absent from the full-time performance of his duties for 180 consecutive calendar days. Therefore, at August 31, 2012, Mr. Bernhard would only have been entitled to receive a MIP cash incentive compensation payment for the portion of the year (approximately six months) that he actually worked prior to becoming disabled. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (7)    | Represents amounts that are payable by our third party insurance providers. Amounts paid in accordance with our accidental death and dismemberment insurance policy will only be paid in the event that death is accidental; amounts paid in accordance with our business travel accidental death and dismemberment insurance policy will only be paid in the event that death is accidental and occurred while traveling for business purposes. Therefore, amounts shown are likely higher than those that will actually be paid. For all NEOs, the amounts in the table include benefits of:                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
|   | –                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Two times each NEO’s annual base salary, capped at $750,000 (payable in accordance with our life insurance policy); |
|   | –                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Two times each NEO’s annual base salary, capped at $750,000 (payable in accordance with our accidental death and dismemberment insurance policy); and |
|   | –                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | A principal sum of $750,000 (payable in accordance with our business travel accidental death and dismemberment insurance policy). |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (8)    | Represents amounts that are payable by our third party insurance providers. Amounts paid in accordance with our accidental death and dismemberment insurance policy will only be paid in the event that disability is caused by dismemberment; amounts paid in accordance with our business travel accidental death and dismemberment insurance policy will only be paid in the event that disability is caused by dismemberment that occurred while traveling for business purposes. Therefore, amounts shown are likely higher than those that would actually be paid. The table above includes payments of:                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
|   | –                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Disability benefits to each NEO (calculated in accordance with our long-term disability plan); |
|   | –                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Two times each NEO’s annual base salary, capped at $750,000 (payable in accordance with our accidental death and dismemberment insurance policy); and |
|   | –                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | A principal sum of $750,000 (payable in accordance with our business travel accidental death and dismemberment insurance policy). |

----

| (9)    | Represents a lump sum payment for the cost to obtain health and welfare benefits for each NEO that are substantially similar to those that the NEO was receiving immediately prior to termination for the periods specified below:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | –Mr. Bernhard:    3 years from date of termination                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   | –Mr. Ferraioli:    2 years from date of termination                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|   | –Mr. Chapman:   18 months from date of termination                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   | –Mr. Bevan:         18 months from date of termination                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| (10)   | Represents a lump sum payment for the cost to obtain health, dental and vision insurance benefits covering the NEO’s spouse and dependents, if any, that are substantially similar to those that the NEO was receiving immediately prior to termination in the event of death. The coverage period is 30 months for Mr. Bernhard, one year for Messrs. Ferraioli and Bevan and 18 months for Mr. Chapman. See the narrative above the table for additional information.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| (11)   | Represents a lump sum payment for the cost to obtain health, dental and vision insurance benefits that are substantially similar to those that the NEO was receiving immediately prior to termination for the coverage periods specified below:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   | –Mr. Bernhard:  30 months                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   | –Mr. Ferraioli:   24 months                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   | –Mr. Bevan:   18 months                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   | See the narrative above the table for additional information.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| (12)   | Messrs. Bernhard, Ferraioli, Chapman (only for the scenarios specified below) and Bevan’s employment agreements provide for accelerated vesting of stock options, RSUs and PCUs. Mr. Smith does not have an employment agreement and Mr. Chapman’s employment agreement does not provide for accelerated vesting in the event of Death or Disability; however, our long-term incentive plans and/or individual grant agreements provide for accelerated vesting in the event of Disability, Death or a Change in Control. The table below provides the number of stock options, RSUs and PCUs used to determine the value estimated to be realized upon accelerated vesting in accordance with:-  the employment agreements of Messrs. Bernhard, Ferraioli, Chapman and Bevan,-  the Death and Disability provisions in our long-term incentive plans and/or individual grant agreements for Messrs. Chapman and Smith, (as noted above, Mr. Chapman’s employment     agreement does not provide for accelerated vesting in the event of Death or Disability and Mr. Smith does not have an employment agreement),-  the Retirement provisions in our long-term incentive plans and/or individual grant agreements for Mr. Chapman. Mr. Chapman has met the eligibility criteria for retirement as of August 31, 2012. |

| Named ExecutiveOfficers | TerminationScenario                                                                   | StockOptions | RestrictedStock Units | PerformanceCash Units |
|-------------------------|---------------------------------------------------------------------------------------|--------------|-----------------------|-----------------------|
| J. M. Bernhard, Jr.     | All scenarios with amounts in the table above                                         | 251,901      | 240,859               | 9,400,000             |
| Brian K. Ferraioli      | All scenarios with amounts in the table above                                         | 68,621       | 69,541                | 2,800,000             |
| David L. Chapman, Sr.   | All scenarios with amounts in the table above except Retirement, Death and Disability | 64,316       | 61,497                |  2,400,000       |
|                    | Retirement                                                                            | —      | 8,826                 | —               |
|                    | Death                                                                                 | 14,482       | 8,826                 | —               |
|                    | Disability                                                                            | 49,834       | 61,497                | 2,400,000             |
| George P. Bevan         | All scenarios with amounts in the table above                                         | 44,350       | 42,826                | 1,700,000             |
| Eli Smith               | Death                                                                                 | 18,828       | 23,784                | 1,270,500             |
|                    | Disability                                                                            | 16,960       | 23,784                | 1,270,500             |

|   | The value of stock options was estimated by multiplying the number of accelerated “in-the-money” stock options by the difference between $42.08, the closing price of our common stock on August 31, 2012, and the stated exercise price of the stock options. The value of RSUs was estimated by multiplying the number of RSUs, for which vesting was accelerated, by $42.08, the closing price of our common stock on August 31, 2012. The value of PCUs was estimated by multiplying the number of PCUs, for which vesting was accelerated, by one dollar (the value of each earned performance cash unit). For all termination scenarios except the Change in Control scenario, the number of PCUs was determined to be 200% of each executive’s target award based on the level of performance achieved as of August 31, 2012. For the Change in Control scenario, the number of PCUs was determined to be 200% of each executive’s target award based on the level of performance achieved as of August 31, 2012 and the subsequent Change in Control calculation specified in the applicable grant agreement. See Note 15 below for additional details on accelerated vesting in accordance with our long-term incentive plans in the event of a Change in Control. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (13)   | Upon termination or a Corporate Change, Mr. Bernhard is entitled to receive a lump sum payment, totaling $18,739,816, the value of his SERP at August 31, 2012. For additional information, see “COMPENSATION DISCUSSION AND ANALYSIS” and “Nonqualified Deferred Compensation” above. Please note that we have not included the amount in the table above, as it is was fully vested as of August 31, 2012 and already reflected in the Nonqualified Deferred Compensation table.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| (14)   | Under certain termination scenarios, Mr. Bernhard will be entitled to the use of a mid-size jet aircraft (which shall mean a jet aircraft comparable to but not less than the jet aircraft most commonly used by Mr. Bernhard in the year prior to the date of termination) for 150 hours per year for the next ten years. The amount above represents the estimated incremental cost at August 31, 2012, of his aircraft usage assuming the maximum number of hours is used each year. If Mr. Bernhard does not use the full 150 hours allowed each year, the actual cost incurred by us may be less than the total amount listed. If Mr. Bernhard terminates employment for Good Reason, Termination without Cause or for a  Corporate Change, he will also be entitled to a lump sum payment equal to the amount necessary to obtain for a three-year period following termination other benefits that are substantially similar to those that he was receiving immediately prior to termination, including country club dues, an automobile allowance and a flexible perquisite benefit. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| (15)   | The compensation and benefits reflected in this column for a Corporate Change for Messrs. Bernhard and Ferraioli are considered to be “single trigger” because the executives will each be entitled to resign for any reason during the 90 days following the Corporate Change and receive the amounts above under the terms of their employment agreements. The compensation and benefits reflected in this column for a Corporate Change for Messrs. Chapman and Bevan are considered to be “double trigger” because the executives will only be entitled to receive these amounts upon certain qualifying terminations of employment described above in “EXECUTIVE COMPENSATION - Employment Agreements.” Also, in the case of Mr. Chapman, these “double trigger” amounts are subject to his execution of a release of claims. Mr. Smith does not have an employment agreement, so the amounts reflected in this column are in accordance with the benefits outlined in the bullets below.                                                         |

|   | In the event that Messrs. Chapman or Bevan do not elect to terminate employment following a Corporate Change, they would only be entitled to the following benefits:                                                                                                                                                                                                                                                                                                      |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |  -                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | the immediate vesting of non-qualified deferred compensation awards under our Deferred Compensation Plan, |
|   |  -                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | the immediate vesting of RSUs and stock options under our 2001 Incentive Plan and |
|   |  -                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | the immediate vesting of RSUs and stock options (assuming that replacement awards are not issued) under our Omnibus Plan. |
|   |  The table below reflects the nonqualified deferred compensation and values estimated to be realized upon accelerated vesting in connection with a Corporate Change without termination of employment, as well as the number of options/units that would be accelerated for Messrs. Chapman, Bevan and Smith. The calculations laid out in Note 12 were used to determine the value estimated to be realized upon accelerated vesting of long-term incentive awards. |

| Named Executive Officer | NonqualifiedDeferredCompensation | AcceleratedVesting ofEquity Awards | StockOptions | RestrictedStock Units | PerformanceCash Units |
|-------------------------|----------------------------------|------------------------------------|--------------|-----------------------|-----------------------|
|                    | ($)                              | ($)                                | (#)          | (#)                   | (#)                   |
| David L. Chapman, Sr.   | —                          | 3,564,333                          | 64,316       | 61,497                | —               |
| George P. Bevan         | 823,554                          | 2,464,633                          | 44,350       | 42,826                | —               |
| Eli Smith               | 1,110,867                        | 1,228,247                          | 18,828       | 23,784                | —               |

| (16) | Represents a lump sum payment resulting from accelerated vesting in accordance with our Deferred Compensation Plan (acceleration occurs in the event of death, disability or change in control). See “Nonqualified Deferred Compensation” and the narrative above for additional information. Please note that the amounts in the table above are the same as the amounts included in the Nonqualified Deferred Compensation table, and they will only be paid out once. We are including the amounts here again since vesting is accelerated under certain termination scenarios. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (17) | Represents the amounts that would be payable to Mr. Ferraioli and Mr. Bevan on August 31, 2012, in accordance with their employment agreements, to offset any excise tax imposed under the Internal Revenue Code on payments received under the change in control termination scenario and other excise or regular income taxes imposed on the executive as a result of this initial excise tax reimbursement. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | Board Cash Retainer. $110,000 annual cash retainer, payable on a calendar year quarterly basis; |
|--------|--------|-------------------------------------------------------------------------------------------------|

|   | · | Audit Committee Chairman. $25,000 annual cash retainer, payable on a calendar year quarterly basis; |
|--------|--------|-----------------------------------------------------------------------------------------------------|

|   | · | Compensation Committee Chairman. $5,000 annual cash retainer, payable on a calendar year quarterly basis; |
|--------|--------|-----------------------------------------------------------------------------------------------------------|

|   | · | Nominating and Corporate Governance Committee Chairman. $5,000 annual cash retainer, payable on a calendar year quarterly basis; and |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Lead Director. $5,000 annual cash retainer, payable on a calendar year quarterly basis. |
|--------|--------|-----------------------------------------------------------------------------------------|

----

|   Name    |   | Fees Earnedor Paid inCash(1) |    |   | StockAwards(2) |   |    | OptionAwards(3) |   |   | Total   |   |
|---------------------|--------|------------------------------|---------|--------|----------------|--------|---------|-----------------|--------|--------|---------|--------|
| James F. Barker*    |   | $                            | 110,000 |   |           | $      | 105,004 |            |   | $      | — |   |   | $ | 215,004 |   |
| Thos. E. Capps      |   |                         | 110,000 |   |           |   | 105,004 |            |   |   | — |   |   |   | 215,004 |   |
| Daniel A. Hoffler   |   |                         | 115,000 |   |           |   | 105,004 |            |   |   | — |   |   |   | 220,004 |   |
| David W. Hoyle      |   |                         | 120,000 |   |           |   | 105,004 |            |   |   | — |   |   |   | 225,004 |   |
| Michael J. Mancuso  |   |                         | 135,000 |   |           |   | 105,004 |            |   |   | — |   |   |   | 240,004 |   |
| Albert D. McAlister |   |                         | 110,000 |   |           |   | 105,004 |            |   |   | — |   |   |   | 215,004 |   |
| Stephen R. Tritch   |   |                         | 110,000 |   |           |   | 105,004 |            |   |   | — |   |   |   | 215,004 |   |

| (1)    | Amounts shown in this column reflect the total cash compensation earned by or paid to each non-employee director in fiscal year 2012 in connection with Board and Committee retainers.                                                                                                                                                                                          |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                            |
| (2)    | This column represents the total grant date fair value, computed in accordance with Accounting Standards Codification Topic 718 Compensation — Stock Compensation (ASC 718), of stock awards granted during fiscal year 2012. The fair value of stock awards is calculated using the last quoted sale price of a share of our common stock on the NYSE on the grant date. |
|   |                                                                                                                                                                                                                                                                                                                                                                            |
|   | As of August 31, 2012, our non-employee directors had the following aggregate number of unvested stock awards: Mr. Barker — 5,146; Mr. Capps — 5,146; Mr. Hoffler — 5,146; Secretary Hoyle — 5,146; Mr. Mancuso — 5,146; Mr. McAlister — 5,146; and Mr. Tritch — 5,146.                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                                            |
| (3)    | We did not grant any stock options to our non-employee directors during fiscal year 2012.                                                                                                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                            |
|   | As of August 31, 2012, our non-employee directors held the following aggregate number of outstanding (vested and unvested) option awards: Mr. Barker — 13,159; Mr. Capps — 8,481; Mr. Hoffler — 10,659; Secretary Hoyle — 15,987; Mr. Mancuso — 9,590; Mr. McAlister — 15,987; and Mr. Tritch — 4,154.                           |

----

|   | • | It does not include interest expense. Because we have borrowed money to finance our operations, pay commitment fees to maintain our credit facility, and incur fees to issue letters of credit under the credit facility, interest expense is a necessary and ongoing part of our costs and has assisted us in generating revenue. Therefore, any measure that excludes interest expense has material limitations. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | It does not include income taxes. Because the payment of income taxes is a necessary and ongoing part of our operations, any measure that excludes income taxes has material limitations. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | It does not include depreciation or amortization expense. Because we use capital and intangible assets to generate revenue, depreciation and amortization expense is a necessary element of our cost structure. Therefore, any measure that excludes depreciation or amortization expense has material limitations. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                  |   | Consolidated |   |
|---------------------------------------------------------------------------------------|--------|--------------|--------|
| Net income (loss)                                                                     |   | $            | 211.3  |   |
| Earnings from unconsolidated entities, net of income taxes                            |   |         | (16.2  | ) |
| Provision (benefit) for income taxes                                                  |   |         | 45.0   |   |
| Income (loss) before income taxes and earnings (losses) from unconsolidated entities: |   | $            | 240.1  |   |

|                                                                                  |   | Consolidated |   |   | Power  |   |    | PlantServices |   |   | E&I |   |   | F&M |    |   | E&C |   |   | Westinghouse |   |   | Corporate |   |
|---------------------------------------------------------------------------------------|--------|--------------|--------|--------|--------|--------|---------|---------------|--------|--------|---------|--------|--------|---------|---------|--------|---------|--------|--------|--------------|--------|--------|-----------|--------|
| Income (loss) before income taxes and earnings (losses) from unconsolidated entities: |   | $            | 240.1  |   |   | $      | 30.6    |          |   | $      | 69.8    |   |   | $       | 102.8   |   |    | $      | 68.8   |         |   | $      | 41.5      |   |   | $ | 0.1 |   |   | $ | (73.5 | ) |
| Interest expense                                                                      |   |         | 46.9   |   |   |   | 0.2     |          |   |   | — |   |   |    | — |   |    |   | 0.2    |         |   |   | —   |   |   |   | 40.6 |   |   |   | 5.9 |   |
| Depreciation and amortization                                                         |   |         | 74.4   |   |   |   | 28.4    |          |   |   | 1.9     |   |   |    | 14.0    |   |    |   | 18.9   |         |   |   | 9.4       |   |   |   | — |   |   |   | 1.8 |   |
| Earnings (losses) from unconsolidated entities                                   |   |         | 26.6   |   |   |   | (2.4    | )             |   |   | — |   |   |    | 1.3     |   |    |   | (0.8   | )            |   |   | 8.2       |   |   |   | 20.3 |   |   |   | — |   |
| Income attributable to noncontrolling interests                                       |   |         | (12.4  | )      |   |   | — |          |   |   | — |   |   |    | (9.6    | )      |    |   | (2.8   | )            |   |   | —   |   |   |   | — |   |   |   | — |   |
|  EBITDA                                                                          |   | $            | 375.6  |   |   | $      | 56.8    |          |   | $      | 71.7    |   |   | $       | 108.5   |   |    | $      | 84.3   |         |   | $      | 59.1      |   |   | $ | 61.0 |   |   | $ | (65.8 | ) |

|   |   | Consolidated |   |   | Westinghouse |   |   | Excluding Westinghouse |   |
|--------|--------|--------------|--------|--------|--------------|--------|--------|------------------------|--------|
| EBITDA |   | $            | 375.6  |   |         | $      | 61.0   |                   |   | $ | 314.6 |   |

----

| Name and Address of Beneficial Owner                             |   | Number of Shares Beneficially Owned |      | Percent of Outstanding Shares(1) |
|------------------------------------------------------------------|--------|-------------------------------------|-----------|----------------------------------|
| BlackRock, Inc.40 East 52nd StreetNew York, NY 10022             |   |                                | 4,820,620 | (2)                              | 7% |
| State Street CorporationOne Lincoln StreetBoston, MA 02111       |   |                                | 3,374,367 | (3)                              | 5% |
| The Vanguard Group, Inc.P.O. Box 2600Valley Forge, PA 19482-2600 |   |                                | 3,468,922 | (4)                              | 5% |

| (1) | Based on 66,663,781 shares of our common stock outstanding as of December 19, 2012. |
|-----|-------------------------------------------------------------------------------------|

| (2) | Information with respect to BlackRock, Inc., on its own behalf and on behalf of certain of its subsidiaries, is based solely on certain Schedule 13Fs filed on November 13, 2012. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)  | Information with respect to State Street Corporation, on its own behalf and on behalf of certain of its subsidiaries, is based solely on the Schedule 13F filed on November 13, 2012. |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Information with respect to The Vanguard Group, Inc. , on its own behalf and on behalf of certain of its subsidiaries, is based solely on the Schedule 13F filed on November 14, 2012.  The holder shares investment power with respect to 44,049 shares reported and has sole investment power with respect to the remaining 3,424,873 shares reported. The holder has sole voting power with respect to 46,822 shares reported and has no voting power with respect to the remaining 3,422,100 shares reported. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Each director; |
|--------|--------|----------------|

|   | · | Each named executive officer; and |
|--------|--------|-----------------------------------|

|   | · | All of our current directors and executive officers as a group. |
|--------|--------|-----------------------------------------------------------------|

|                                                                 |   | Amount and Nature of Beneficial Ownership |      |
|----------------------------------------------------------------------|--------|-------------------------------------------|-----------|
| Name of Beneficial Owner                                             |   |   Shares ofCommonStock(1)(2)    |      |   | Shares Subject to Exercisable Options(3) |   |   | TotalShares ofCommonStockBeneficiallyOwned (4) |   |   | Percent ofClass (5) |   |
| Directors:                                                           |   |                                      |      |   |   |   |   |   |   |   |   |   |
| J.M. Bernhard, Jr. (Chairman, President and Chief Executive Officer) |   |                                      | 1,208,660 |   |   |   | 1,440,339 |   |   |   | 2,648,999 |   |   | 4.0 | % |
| James F. Barker                                                      |   |                                      | 11,854    |   |   |   | 12,472 |   |   |   | 24,326 |   |   |   | * |   |
| Thos. E. Capps                                                       |   |                                      | 9,533     |   |   |   | 7,794 |   |   |   | 17,327 |   |   |   | * |   |
| Daniel A. Hoffler                                                    |   |                                      | 18,199    |   |   |   | 9,972 |   |   |   | 28,171 |   |   |   | * |   |
| David W. Hoyle (6)                                                   |   |                                      | 35,485    |   |   |   | 15,300 |   |   |   | 50,785 |   |   |   | * |   |
| Michael J. Mancuso                                                   |   |                                      | 6,760     |   |   |   | 8,903 |   |   |   | 15,663 |   |   |   | * |   |
| Albert D. McAlister (7)                                              |   |                                      | 142,568   |   |   |   | 15,300 |   |   |   | 157,868 |   |   |   | * |   |
| Stephen R. Tritch                                                    |   |                                      | 3,648     |   |   |   | 3,467 |   |   |   | 7,115 |   |   |   | * |   |
| Named Executive Officers (other than Mr. Bernhard):                  |   |                                      |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Brian K. Ferraioli                                                   |   |                                      | 85,348    |   |   |   | 146,731 |   |   |   | 232,079 |   |   |   | * |   |
| David L. Chapman, Sr. (8)                                            |   |                                      | 30,759    |   |   |   | 85,724 |   |   |   | 116,483 |   |   |   | * |   |
| George P. Bevan                                                      |   |                                      | 36,356    |   |   |   | 75,378 |   |   |   | 111,734 |   |   |   | * |   |
| Eli Smith                                                            |   |                                      | 9,679     |   |   |   | 19,194 |   |   |   | 28,873 |   |   |   | * |   |
| All current directors and executive officers as a group (14 persons) |   |                                      | 1,617,031 |   |   |   | 1,873,869 |   |   |   | 3,490,900 |   |   | 5.2 | % |

----

| *      | Ownership is less than 1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| (1)    | Includes shares over which the person or members of his immediate family hold or share voting and/or investment power and excludes shares listed under the column “Shares Subject to Exercisable Options.” For named executive officers, shares owned through our 401(k) Plan are included.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| (2)    | Includes RSUs awarded under our 2005 Director Plan or the Omnibus Plan, to our non-employee directors that may convert into shares of common stock within 60 days of December 17, 2012 (or by February 15, 2013), as follows: Mr. Barker — 2,198; Mr. Capps — 2,198; Mr. Hoffler — 2,198; Secretary Hoyle — 2,198; Mr. Mancuso — 2,198; Mr. McAlister — 2,198; and Mr. Tritch — 2,198. Includes RSUs awarded under our 2001 Employee Incentive Compensation Plan or our Omnibus Plan to employees that will convert into shares of common stock within 60 days of December 17, 2012 (or by February 15, 2013), as follows: Mr. Bernhard — 77,057; Mr. Ferraioli — 20,748; Mr. Chapman – 19,675; Mr. Bevan — 13,201; and Mr. Smith – 3,196. Restricted stock units do not have voting rights. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| (3)    | Includes shares underlying options granted by us that are exercisable at December 17, 2012, and shares underlying options that become exercisable within 60 days of December 17, 2012 (or by February 15, 2013).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| (4)    | Represents the total of shares listed under the columns “Shares of Common Stock” and “Shares Subject to Exercisable Options.”                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| (5)    | Based on the number of total shares outstanding at December 19, 2012.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| (6)    | Includes 2,250 shares of common stock beneficially owned by Secretary Hoyle’s spouse. Of the shares shown as beneficially owned by Secretary Hoyle, 20,383 shares are held in a margin securities account at a brokerage firm, and are pledged as collateral security for the repayment of debt balances, if any, owned by such account.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| (7)    | Includes 77,644 shares beneficially owned by the Albert McAlister Revocable Trust (Mr. McAlister is Trustee), 27,764 shares beneficially owned by the Camille McAlister Trust (Mr. McAlister is Co-Trustee), 15,900 shares beneficially owned by the Albert McAlister 2001 Charitable Remainder Unitrust (Mr. McAlister is Trustee), 9,000 shares beneficially owned by the Albert McAlister 2008 Charitable Remainder Unitrust (Mr. McAlister is Trustee), 2,500 shares beneficially owned by Mr. McAlister’s spouse and 3,000 shares beneficially owned by A. Dial McAlister, Jr. Limited Partnership (Mr. McAlister and his son are partners).                                                                                                                                                                                                              |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| (8)    | Includes 2,482 shares beneficially owned by Mr. Chapman’s spouse.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

|                                                      | Number of SecuritiesTo be Issued UponExercise ofOutstanding Options,Warrants and Rights                                     |   | Weighted-AverageExercise Price ofOutstanding Options,Warrants and Rights |   | Number of SecuritiesRemaining Available forFuture Issuance UnderEquity Compensation Plans (a) |
|-----------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------|
| Equity compensation plansapproved by security holders     |                    3,088,064 |   | 26.42                                                                    |   | 1,785,135                                                                                     |
| Equity compensation plans notapproved by security holders | —                                                                                                                     |   | —                                                                  |   | —                                                                                       |
| Total                                                     | 3,088,064                                                                                                                   |   | 26.42                                                                    |   | 1,785,135                                                                                     |

|   | (a) | Excludes securities reflected in “Number of Securities to be Issues Upon Exercise of Outstanding Options, Warrants and Rights” column. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | Employment of Mr. Chapman’s Son. During fiscal year 2012, the Company employed as a “Director of Coatings” David L. Chapman, Jr., son of David L. Chapman, Sr., President of our Fabrication & Manufacturing Group. David L. Chapman, Jr.’s compensation in fiscal year 2012 was approximately $180,000. He has been a Company employee since August 2002. We believe that David L. Chapman, Jr.’s compensation is reasonable and commensurate with his level of experience, expertise, responsibilities, duties, and service to the Company. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|               |   | Fiscal Year 2012 |       | Fiscal Year 2011 |
|--------------------|--------|------------------|------------|------------------|
| Audit Fees         |   | $                | 6,250,000  |             | 56 | % |   | $ | 6,600,000 |   | 71 | % |
| Audit-Related Fees |   |             | 2,557,000  |             | 23 | % |   |   | 1,075,000 |   | 12 | % |
| Tax Fees           |   |             | 2,448,000  |             | 21 | % |   |   | 1,575,000 |   | 17 | % |
| All Other Fees     |   |             | -          |             | 0 | % |   |   | - |   | 0 | % |
| Total              |   | $                | 11,255,000 |             | 100 | % |   | $ | 9,250,000 |   | 100 | % |

|   | · | Audit of our annual consolidated financial statements, including quarterly reviews. |
|--------|--------|-------------------------------------------------------------------------------------|

|   | · | Any other audit services not specifically listed. |
|--------|--------|---------------------------------------------------|

----

|   | · | Consents to include the independent registered public accounting firm’s report in our filings with the SEC |
|--------|--------|------------------------------------------------------------------------------------------------------------------|

|   | · | Comfort letters |
|--------|--------|-----------------|

|   | · | Statutory audits of foreign subsidiaries |
|--------|--------|------------------------------------------|

|   | · | Audits of wholly-owned consolidated entities (e.g., Shaw Constructors for State Contractors’ Licenses) |
|--------|--------|--------------------------------------------------------------------------------------------------------------|

|   | · | Audits of Employee Benefit Plans |
|--------|--------|----------------------------------|

|   | · | Due diligence related to mergers & acquisition when fees exceed $200,000 |
|--------|--------|------------------------------------------------------------------------------|

|   | · | Internal control reviews |
|--------|--------|--------------------------|

|   | · | Any other audit related services not specifically listed |
|--------|--------|----------------------------------------------------------|

|   | · | Due diligence related to mergers & acquisitions when fees do not exceed $200,000 |
|--------|--------|--------------------------------------------------------------------------------------|

|   | · | Accounting assistance & audits in connection with proposed or consummated acquisitions when fees do not exceed $200,000 |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------|

|   | · | Consultation concerning financial accounting and reporting standards when fees do not exceed $200,000 |
|--------|--------|-------------------------------------------------------------------------------------------------------|

|   | · | Tax compliance services related to our consolidated federal tax return |
|--------|--------|------------------------------------------------------------------------|

|   | · | Any other tax services not specifically listed |
|--------|--------|------------------------------------------------|

|   | · | Tax payment planning services when fees do not exceed $200,000 |
|--------|--------|----------------------------------------------------------------|

|   | · | Tax consultation and tax planning services when fees do not exceed $200,000 |
|--------|--------|-----------------------------------------------------------------------------|

|   | · | Any other services when fees exceed $100,000 |
|--------|--------|----------------------------------------------|

|   | · | Any other services when fees do not exceed $100,000 |
|--------|--------|-----------------------------------------------------|

----

|   | · | Financial Statements and Supplementary Data. |
|--------|--------|----------------------------------------------|

|   | · | Combined Financial Statements of Toshiba Nuclear Energy Holdings (US), Inc. and Toshiba Nuclear Energy Holdings (UK) Ltd. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------|

|   | · | Report of Independent Registered Public Accounting Firm — Ernst & Young LLP |
|--------|--------|---------------------------------------------------------------------------------------|

|   | · | Combined Balance Sheets as of March 31, 2012 and 2011 |
|--------|--------|-------------------------------------------------------|

|   | · | Combined Statements of Operations for the fiscal years ended March 31, 2012, 2011 and 2010 |
|--------|--------|--------------------------------------------------------------------------------------------|

|   | · | Combined Statements of Stockholders’ Equity for the fiscal years ended March 31, 2012, 2011 and 2010 |
|--------|--------|------------------------------------------------------------------------------------------------------------|

|   | · | Combined Statements of Cash Flows for the fiscal years ended March 31, 2012, 2011 and 2010 |
|--------|--------|--------------------------------------------------------------------------------------------|

|   | · | Notes to Combined Financial Statements |
|--------|--------|----------------------------------------|

----

| Exhibit Number |   |  Document Description                                                                                                                                                                                                                                                                                                                                                                     |   | Form/Schedule |   |  Exhibit |   | FilingDate |   | FiledHerewith |
|----------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|--------|---------------|--------|------------|--------|---------------|
| 2.01           |   | Investment Agreement, dated as of October 4, 2006, by and among Toshiba, Toshiba Nuclear Energy Holdings Corporation (US) Inc., a Delaware corporation (the “US Company”), The Shaw Group Inc. (the “Company”) and Nuclear Energy Holdings, L.L.C. (“NEH”)                                                                                                 |   | 8-K           |   | 2.01          |   | 10/18/2006 |   |          |
| 2.02           |   | Investment Agreement, dated as of October 4, 2006, by and among Toshiba, Toshiba Nuclear Energy Holdings (UK) Limited, a company registered in England with registered number 5929672 (the “UK Company”), the Company and NEH                                                                                                                                                      |   | 8-K           |   | 2.02          |   | 10/18/2006 |   |          |
| 2.03           |   | Transaction Agreement, dated as of July 30, 2012, by and among Chicago Bridge & Iron Company N.V., Crystal Acquisition Subsidiary Inc. and The Shaw Group Inc.                                                                                                                                                                                                                             |   | 8-K           |   | 2.1           |   | 7/30/2012  |   |          |
| 3.01           |   | Composite Articles of Incorporation of The Shaw Group Inc.                                                                                                                                                                                                                                                                                                                                     |   | 10-Q          |   | 3.01          |   | 7/10/2012  |   |          |
| 3.02           |   | Amended and Restated By-Laws of The Shaw Group Inc. dated as of January 30, 2007                                                                                                                                                                                                                                                                                                               |   | 10-K/A-1      |   | 3.2           |   | 9/28/2007  |   |          |
| 4.01           |   | Specimen Common Stock Certificate                                                                                                                                                                                                                                                                                                                                                              |   | 10-K          |   | 4.1           |   | 12/6/2007  |   |          |
| 4.02           |   | Rights Agreement, dated as of July 9, 2001, between the Company and First Union National Bank, as Rights Agent, including the Form of Articles of Amendment to the Restatement of the Articles of Incorporation of the Company as Exhibit A, the form of Rights Certificate as Exhibit B and the form of the Summary of Rights to Purchase Preferred Shares as Exhibit C (Exhibit A-1 and A-2) |   | 8-A           |   | 99.1          |   | 7/30/2001  |   |          |
| 4.03           |   | The Shaw Group Inc. hereby agrees to furnish copies of instruments defining the rights of holders of long-term debt of The Shaw Group Inc. and its consolidated subsidiaries to the Commission upon request.                                                                                                                                                                                   |   |          |   |          |   |       |   |          |
| *10.01         |   | The Shaw Group Inc. Stone & Webster Acquisition Stock Option Plan                                                                                                                                                                                                                                                                                                                          |   | S-8           |   | 4.6           |   | 6/12/2001  |   |          |
| *10.02         |   | The Shaw Group Inc. 1993 Employee Stock Option Plan, amended and restated through October 8, 2001                                                                                                                                                                                                                                                                                              |   | 10-K          |   | 10.1          |   | 11/29/2001 |   |          |
| *10.03         |   | The Shaw Group Inc. 401(k) Plan                                                                                                                                                                                                                                                                                                                                                                |   | S-8           |   | 4.6           |   | 5/4/2004   |   |          |
| *10.04         |   | The Shaw Group Inc. 401(k) Plan for Certain Hourly Employees                                                                                                                                                                                                                                                                                                                                   |   | S-8           |   | 4.6           |   | 5/4/2004   |   |          |
| *10.05         |   | Flexible Perquisites Program for certain executive officers                                                                                                                                                                                                                                                                                                                                    |   | 8-K           |   |          |   | 11/1/2004  |   |          |
| *10.06         |   | Trust Agreement, dated as of January 2, 2007 by and between the Company and Fidelity Management Trust Company for The Shaw Group Deferred Compensation Plan Trust                                                                                                                                                                                                                              |   | 10-Q          |   | 10.6          |   | 9/28/2007  |   |          |
| *10.07         |   | Employee Indemnity Agreement dated as of July 12, 2007 between the Company and Brian K. Ferraioli                                                                                                                                                                                                                                                                                              |   | 10-K          |   | 10.34         |   | 12/6/2007  |   |          |
| *10.08         |   | The Shaw Group Inc. 2005 Non-Employee Director Stock Incentive Plan, amended and restated through November 2, 2007                                                                                                                                                                                                                                                                        |   | 10-Q          |   | 10.5          |   | 1/9/2008   |   |          |
| *10.09         |   | Offer Letter dated as of August 31, 2007, by and between the Company and Michael J. Kershaw                                                                                                                                                                                                                                                                                                    |   | 8-K           |   | 10.1          |   | 12/21/2007 |   |          |
| *10.10         |   | Written description of the Company’s compensation policies and programs for non-employee directors                                                                                                                                                                                                                                                                                       |   | 14A           |   |          |   | 12/24/2008 |   |          |
| *10.11         |   | Amended and Restated Employment Agreement dated as of December 22, 2008 by and between the Company and Gary P. Graphia                                                                                                                                                                                                                                                                         |   | 8-K           |   | 10.1          |   | 12/24/2008 |   |          |
| *10.12         |   | Amended and Restated Employment Agreement dated as of December 31, 2008, by and between the Company and J.M. Bernhard, Jr.                                                                                                                                                                                                                                                                     |   | 8-K           |   | 10.1          |   | 1/7/2009   |   |          |
| *10.13         |   | Amended and Restated Employment Agreement dated as of December 31, 2008 between the Company and Brian K. Ferraioli                                                                                                                                                                                                                                                                             |   | 8-K           |   | 10.2          |   | 1/7/2009   |   |          |
| *10.14         |   | The Shaw Group Inc. 2008 Omnibus Incentive Plan                                                                                                                                                                                                                                                                                                                                                |   | 10-Q          |   | 10.8          |   | 4/9/2009   |   |          |
| *10.15         |   | Amended and Restated Employment Agreement dated as of December 31, 2008 by and between the Company and George P. Bevan                                                                                                                                                                                                                                                                         |   | 10-Q          |   | 10.13         |   | 4/9/2009   |   |          |
| *10.16         |   | Amended and Restated Employment Agreement dated as of December 31, 2008 by and between the Company and Lou Pucher                                                                                                                                                                                                                                                                              |   | 10-Q          |   | 10.16         |   | 4/9/2009   |   |          |
| *10.17 |   | The Shaw Group Deferred Compensation Plan                                                                        |   | 10-Q |   | 10.1  |   | 4/9/2009 |   |   |
|--------|--------|------------------------------------------------------------------------------------------------------------------|--------|------|--------|-------|--------|----------|--------|--------|
| *10.18 |   | The Shaw Group Deferred Compensation Plan Form of Adoption                                                       |   | 10-Q |   | 10.11 |   | 4/9/2009 |   |   |
| *10.19 |   | Form of Employee Incentive Stock Option Award under The Shaw Group Inc. 2008 Omnibus Incentive Plan              |   | 10-Q |   | 10.67 |   | 1/6/2010 |   |   |
| *10.20 |   | Form of Employee Nonqualified Stock Option Award Agreement under The Shaw Group Inc. 2008 Omnibus Incentive Plan |   | 10-Q |   | 10.68 |   | 1/6/2010 |   |   |
| *10.21 |   | Form of Canadian Employee Incentive Stock Option Agreement under The Shaw Group Inc. 2008 Omnibus Incentive Plan |   | 10-Q |   | 10.70 |   | 1/6/2010 |   |   |

----

| *10.22        |   | Written description of the Company’s incentive compensation policies programs for executive officers, including performance targets for fiscal year end 2009      |   | 14A  |   |   |   | 12/17/2009 |   |   |
|---------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------|--------|--------|--------|------------|--------|--------|
| *10.23        |   | Form of Nonemployee Director Nonqualified Stock Option Award Agreement under The Shaw Group Inc. 2008 Omnibus Incentive Plan                                            |   | 10-Q |   | 10.46  |   | 4/7/2010   |   |   |
| *10.24        |   | Form of Nonemployee Director Restricted Stock Unit Award Agreement under The Shaw Group Inc. 2008 Omnibus Incentive Plan                                                |   | 10-Q |   | 10.47  |   | 4/7/2010   |   |   |
| *10.25        |   | Amendment to the Amended and Restated Employment Agreement dated December 31, 2008, by and between the Company and J.M. Bernhard, Jr.                                   |   | 10-Q |   | 10.48  |   | 7/12/2010  |   |   |
| *10.26        |   | Second Amended and Restated Employment Agreement dated as of July 22, 2010 by and between the Company and John Donofrio                                                 |   | 10-K |   | 10.24  |   | 10/28/2010 |   |   |
| *10.27        |   | Amended and Restated Employment Agreement dated as of April 8, 2011 by and between the Company and David L. Chapman, Sr.                                                |   | 10-Q |   | 10.3   |   | 4/11/2011  |   |   |
| *10.28        |   | Employment Agreement dated as of February 2, 2011 by and between the Company and Clarence Ray                                                                           |   | 10-Q |   | 10.4   |   | 4/11/2011  |   |   |
| *10.29        |   | Second Amended and Restated Employment Agreement dated December 12, 2011, by and between the Company and J. M. Bernhard, Jr.                                            |   | 10-Q |   | 10.1   |   | 12/21/2011 |   |   |
| *10.30        |   | Letter Agreement dated December 9, 2011, by and between the Company and Timothy J. Poché                                                                           |   | 8-K  |   | 10.1   |   | 1/26/2012  |   |   |
| *10.31        |   | Consulting Agreement dated May 23, 2012, by and between The Shaw Group Inc. and Gary P. Graphia                                                                         |   | 8-K  |   | 10.1   |   | 5/29/2012  |   |   |
| *†10.32 |   | Form of Employee Restricted Stock Unit Award Agreement under The Shaw Group Inc. 2008 Omnibus Incentive Plan                                                            |   | 10-K |   | 10.32  |   | 10/19/2012 |   |   |
| *†10.33 |   | Form of Employee Performance Cash Unit Award Agreement under The Shaw Group Inc. 2008 Omnibus Incentive Plan                                                            |   | 10-K |   | 10.33  |   | 10/19/2012 |   |   |
| *†10.34 |   | Form of Employee Cash Settled Restricted Stock Unit Award Agreement under The Shaw Group Inc. 2008 Omnibus Incentive Plan                                               |   | 10-K |   | 10.34  |   | 10/19/2012 |   |   |
| *†10.35 |   | Form of Section 16 Officer Restricted Stock Unit Award Agreement under The Shaw Group Inc. 2008 Omnibus Incentive Plan                                                  |   | 10-K |   | 10.35  |   | 10/19/2012 |   |   |
| *†10.36 |   | Form of Section 16 Officer Performance Cash Unit Award Agreement under The Shaw Group Inc. 2008 Omnibus Incentive Plan                                                  |   | 10-K |   | 10.36  |   | 10/19/2012 |   |   |
| *†10.37 |   | Retention Bonus dated October 16, 2012 by and between the Company and Timothy Poché                                                                                |   | 10-K |   | 10.37  |   | 10/19/2012 |   |   |
| 10.38         |   | Asset Purchase Agreement, dated as of July 14, 2000, among Stone & Webster, Incorporated, certain subsidiaries of Stone & Webster, Incorporated and the Company |   | 8-K  |   | 2.1    |   | 7/28/2000  |   |   |
| 10.39 |   | Composite Asset Purchase Agreement, dated as of January 23, 2002, by and among the Company, The IT Group, Inc. and certain subsidiaries of The IT Group, Inc., including the following amendments:(i) Amendment No. 1, dated January 24, 2002, to Asset Purchase Agreement, (ii) Amendment No. 2, dated January 29, 2002, to Asset Purchase Agreement, and (iii) a letter agreement amending Section 8.04(a)(ii) of the Asset Purchase Agreement, dated as of April 30, 2002, between The IT Group, Inc. and the Company |   | 8-K |   | 2.1  |   | 5/16/2002  |   |   |
|-------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----|--------|------|--------|------------|--------|--------|
| 10.40 |   | Amendment No. 3, dated May 2, 2002, to Asset Purchase Agreement by and among the Company, The IT Group, Inc. and certain subsidiaries of The IT Group, Inc.                                                                                                                                                                                                                                                                                                                                                              |   | 8-K |   | 2.2  |   | 5/16/2002  |   |   |
| 10.41 |   | Amendment No. 4, dated May 3, 2002, to Asset Purchase Agreement by and among the Company, The IT Group, Inc. and certain subsidiaries of the IT Group, Inc.                                                                                                                                                                                                                                                                                                                                                              |   | 8-K |   | 2.3  |   | 5/16/2002  |   |   |
| 10.42 |   | Put Option Agreement, dated as of October 13, 2006, between NEH and Toshiba related to shares in the US acquisition company                                                                                                                                                                                                                                                                                                                                                                                              |   | 8-K |   | 10.2 |   | 10/18/2006 |   |   |
| 10.43 |   | Put Option Agreement, dated as of October 13, 2006, between NEH and Toshiba related to shares in the UK acquisition company                                                                                                                                                                                                                                                                                                                                                                                              |   | 8-K |   | 10.3 |   | 10/18/2006 |   |   |
| 10.44 |   | Shareholders Agreement, dated as of October 4, 2006, by and among Toshiba, Toshiba Nuclear Energy Holdings (US) Inc. the US Company, NEH, TSB Nuclear Energy Investment US Inc., a Delaware corporation and a wholly owned subsidiary of Toshiba and Ishikawajima-Harima Heavy Industries Co., Ltd., a corporation organized under the laws of Japan (“IHI”)                                                                                                                                                 |   | 8-K |   | 10.4 |   | 10/18/2006 |   |   |

----

| 10.45  |   | Shareholders Agreement, dated as of October 4, 2006, by and among Toshiba, Toshiba Nuclear Energy Holdings (UK) Inc., the UK Company, NEH, IHI and TSB Nuclear Energy Investment UK Limited, a company registered in England with registered number 5929658                                                                                                                                       |   | 8-K  |   | 10.5  |   | 10/18/2006 |   |   |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------|--------|-------|--------|------------|--------|--------|
| 10.46  |   | Bond Trust Deed, dated October 13, 2006, between NEH and The Bank of New York, as trustee                                                                                                                                                                                                                                                                                                         |   | 8-K  |   | 10.6  |   | 10/18/2006 |   |   |
| 10.47  |   | Parent Pledge Agreement, dated October 13, 2006, between the Company and The Bank of New York                                                                                                                                                                                                                                                                                                     |   | 8-K  |   | 10.7  |   | 10/18/2006 |   |   |
| 10.48  |   | Issuer Pledge Agreement, dated October 13, 2006, between NEH and The Bank of New York                                                                                                                                                                                                                                                                                                             |   | 8-K  |   | 10.8  |   | 10/18/2006 |   |   |
| 10.49  |   | Deed of Charge, dated October 13, 2006, among NEH, The Bank of New York, as trustee, and Morgan Stanley Capital Services Inc., as swap counterparty                                                                                                                                                                                                                                               |   | 8-K  |   | 10.9  |   | 10/18/2006 |   |   |
| 10.50  |   | Transferable Irrevocable Direct Pay Letter of Credit (Principal Letter of Credit) effective October 13, 2006 of Bank of America in favor of NEH                                                                                                                                                                                                                                                   |   | 8-K  |   | 10.1  |   | 10/18/2006 |   |   |
| 10.51  |   | Transferable Irrevocable Direct Pay Letter of Credit (Interest Letter of Credit) effective October 13, 2006 of Bank of America in favor of NEH                                                                                                                                                                                                                                                    |   | 8-K  |   | 10.11 |   | 10/18/2006 |   |   |
| 10.52  |   | Reimbursement Agreement dated as of October 13, 2006, between the Company and Toshiba                                                                                                                                                                                                                                                                                                             |   | 8-K  |   | 10.12 |   | 10/18/2006 |   |   |
| #10.53 |   | Credit Agreement between Nuclear Innovation North America LLC, Nina Investments Holdings LLC, Nuclear Innovation North America Investments Llc, Nina Texas 3 LLC and Nina Texas 4 LLC Dated November 29, 2010                                                                                                                                                                                     |   | 10-Q |   | 10.1  |   | 1/6/2011   |   |   |
| #10.54 |   | First Lien Intercreditor Agreement Dated As Of November 29, 2010, Among Nuclear Innovation North America LLC, Nina Investments Holdings LLC, Nuclear Innovation North America Investments LLC, Nina Texas 3 Llc and Nina Texas 4 LLC, The Other Grantors Party Hereto, Toshiba America Nuclear Energy Corporation, as Toshiba Collateral Agent, and The Shaw Group Inc., As Shaw Collateral Agent |   | 10-Q |   | 10.2  |   | 1/6/2011   |   |   |
| #10.55                      |   | Second Amended and Restated Credit Agreement, dated as of June 15, 2011, among the Company, as borrower; the Company’s subsidiaries signatories thereto, as guarantors; BNP Paribas, as administrative agent; and the other agents and lenders signatory thereto. |   | 8-K    |   | 10.1   |   | 6/21/2011  |   |   |
|-----------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|------------|--------|--------|
| 10.56                       |   | Agreement of Purchase and Sale dated May 21, 2012, by and between The Shaw Group Inc. and Technip, S.A.                                                                                                                                                                 |   | 8-K    |   | 2.1    |   | 5/22/2012  |   |   |
| 14.01                       |   | The Shaw Group Inc. Code of Corporate Conduct dated June 2006                                                                                                                                                                                                           |   | 10-K   |   | 14.1   |   | 12/6/2007  |   |   |
| 14.02                       |   | The Shaw Group Inc. Code of Ethics for Chief Executive Officer and Senior Financial Officers (adopted as of December 16, 2003)                                                                                                                                          |   | 10-K   |   | 14.2   |   | 12/6/2007  |   |   |
| 14.03                       |   | The Shaw Group Inc. Insider Trading Policy dated June 2006                                                                                                                                                                                                              |   | 10-K   |   | 14.3   |   | 12/6/2007  |   |   |
| †21.01                |   | Subsidiaries of The Shaw Group Inc.                                                                                                                                                                                                                                     |   | 10-K   |   | 21.01  |   | 10/19/2012 |   |   |
| †23.01                |   | Consent of KPMG LLP, independent registered public accounting firm of The Shaw Group Inc.                                                                                                                                                                               |   | 10-K   |   | 23.01  |   | 10/19/2012 |   |   |
| †23.02                |   | Consent of Ernst & Young LLP, independent registered public accounting firm of Toshiba Nuclear Energy Holdings (US), Inc. and Toshiba Nuclear Energy Holdings (UK) Ltd.                                                                                             |   | 10-K   |   | 23.02  |   | 10/19/2012 |   |   |
| 31.1                        |   | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                 |   |   |   |   |   |       |   | X      |
| 31.2                        |   | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                 |   |   |   |   |   |       |   | X      |
| ††32.01         |   | Certification pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                                                  |   | 10-K   |   | 32.01  |   | 10/19/2012 |   |   |
| ††32.02         |   | Certification pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                                                  |   | 10-K   |   | 32.02  |   | 10/19/2012 |   |   |
| ††§101.INS |   | XBRL Instance Document.                                                                                                                                                                                                                                                 |   | 10-K   |   |   |   | 10/19/2012 |   |   |
| ††§101.SCH |   | XBRL Taxonomy Extension Schema Document                                                                                                                                                                                                                                 |   | 10-K   |   |   |   | 10/19/2012 |   |   |
| ††§101.CAL |   | XBRL Taxonomy Extension Calculation Linkbase Document                                                                                                                                                                                                                   |   | 10-K   |   |   |   | 10/19/2012 |   |   |
| ††§101.LAB |   | XBRL Taxonomy Extension Label Linkbase Document                                                                                                                                                                                                                         |   | 10-K   |   |   |   | 10/19/2012 |   |   |
| ††§101.PRE |   | XBRL Taxonomy Extension Presentation Linkbase Document.                                                                                                                                                                                                                 |   | 10-K   |   |   |   | 10/19/2012 |   |   |
| ††§101.DEF |   | XBRL Taxonomy Extension Definition Linkbase Document                                                                                                                                                                                                                    |   | 10-K   |   |   |   | 10/19/2012 |   |   |

----

|   | THE SHAW GROUP INC.     |   |
|--------|-------------------------|--------|
|   |                    |   |
|   |                    |   |
|   | /s/ J.M. Bernhard, Jr.  |   |
|   | By: J. M. Bernhard, Jr. |   |
|   | Chief Executive Officer |   |

| Signature                                                                                                                                                                                                                                                                                                                                                                                                  |   | Title                                                                    |   | Date                     |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------|--------|--------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                     |   |                     |
|                                                                                                                                                                                                                                                                                                                                                                                                       |   | Chairman of the Board, President andChief Executive Officer and Director |   |   December 21, 2012 |
| /s/ J. M. Bernhard, Jr.                                                                                                                                                                                                                                                                                                                                  |   | (Principal Executive Officer)                                            |   |                     |
| J. M. Bernhard, Jr.                                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                     |   |                     |
|                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                     |   |                     |
|                                                                                                                                                                                                                                                                                                                                                                                                       |   | Executive Vice Presidentand Chief Financial Officer                      |   |   December 21, 2012 |
| /s/ Brian K. Ferraioli                                                                                                                                                                                                                                                                                                                                                                                     |   | (Principal Financial Officer)                                            |   |                     |
| Brian K. Ferraioli                                                                                                                                                                                                                                                                                                                                                                                         |   |                                                                     |   |                     |
|                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                     |   |                     |
|                                                                                                                                                                                                                                                                                                                                                                                                       |   | Interim Vice Presidentand Chief Accounting Officer                       |   |   December 21, 2012 |
| /s/ James C. Wilems                                                                                                                                                                                                                                                                                                                                                                                        |   | (Principal Accounting Officer)                                           |   |                     |
| James C. Wilems                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                     |   |                     |
|                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                     |   |                     |
| /s/ Albert D. McAlister                                                                                                                                                                                                                                                                                                                                                                                    |   | Director                                                                 |   | December 21, 2012        |
| Albert D. McAlister                                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                     |   |                     |
|                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                     |   |                     |
| /s/ David W. Hoyle                                                                   |   | Director                                                                 |   | December 21, 2012        |
| David W. Hoyle                                                                                                                                                                                                                                                                                                                                                                                             |   |                                                                     |   |                     |
|                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                     |   |                     |
| /s/ James F. Barker                                                                  |   | Director                                                                 |   | December 21, 2012        |
| James F. Barker                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                     |   |                     |
|                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                     |   |                     |
| /s/ Daniel A. Hoffler                                                                |   | Director                                                                 |   | December 21, 2012        |
| Daniel A. Hoffler                                                                                                                                                                                                                                                                                                                                                                                          |   |                                                                     |   |                     |
|                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                     |   |                     |
| /s/ Michael J. Mancuso                                                               |   | Director                                                                 |   | December 21, 2012        |
| Michael J. Mancuso                                                                                                                                                                                                                                                                                                                                                                                         |   |                                                                     |   |                     |
|                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                     |   |                     |
| /s/ Thomas E. Capps                                                                  |   | Director                                                                 |   | December 21, 2012        |
|  Thomas E. Capps                                                                                                                                                                                                                                                                                                                                                                                      |   |                                                                     |   |                     |
|                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                     |   |                     |
| /s/ Stephen R. Tritch                                                                |   | Director                                                                 |   | December 21, 2012        |
| Stephen R. Tritch                                                                                                                                                                                                                                                                                                                                                                                          |   |                                                                     |   |                     |