exv10w105







	 	 	 	 	 



Exhibit 10.105




FIRST AMENDMENT

TO THE

EMPLOYMENT AGREEMENT

BETWEEN FOSTER WHEELER INC.

AND

MICHAEL LIEBELSON





     This FIRST AMENDMENT (this “Amendment”) to the Employment Agreement between FOSTER WHEELER
INC., a Delaware corporation (the “Company”), and MICHAEL LIEBELSON (the “Executive”), dated as of
May 28, 2010, is made and entered into as of December 1, 2010 (the “Amendment Date”).



     WHEREAS, Foster Wheeler Inc. entered into an Employment Agreement with the Executive, dated as
of May 28, 2010 (the “Agreement”),



     WHEREAS, the Company and the Executive have agreed to amend the Agreement as set forth herein.



     NOW THEREFORE, for good and valuable consideration the receipt and sufficiency of which are
hereby acknowledged, and in further consideration of the following mutual promises, covenants and
undertakings, the parties agree that the Agreement is amended effective as of the Amendment Date,
as follows:




	1.	 	A new Agreement Section 3.12 is added as follows:






	 	 	Certain Reimbursements.






(a) Beginning after June 1, 2011, if either (i) the Company relocates the
Executive’s principal business location so that commute from the Executive’s
residence in the Geneva area is increased by more than 50 miles, or (ii) the
Executive’s employment with the Company terminates for any reason other than
Cause, and, if as a result of any of the foregoing the Executive
vacates the Executive’s Geneva residence and incurs lease termination
expenses, continuing lease expenses or similar expenses in connection with
the Geneva residence despite the Executive’s reasonable efforts to avoid
and/or limit such expenses, which reasonable efforts shall include, without
limit, cooperating with the Company to effect the transfer to the Company of
the remainder of the lease on the residence, then the Company shall
pay, or reimburse the Executive for, such expenses as soon as
administratively possible after they are incurred by the Executive.




(b) Beginning after June 1, 2011, if either (i) the Company relocates the
Executive’s principal business location so that commute from the Executive’s
residence in the Geneva area is increased by more than 50 miles, or (ii) the
Executive’s employment with the Company terminates for any reason other than
Cause, and, if as a result of any of the foregoing the Executive
vacates the Executive’s Geneva residence, then the Company shall
pay, or reimburse the Executive for, the expense of moving his personal
belongings and furnishings to













 






his new residence as soon as administratively possible after such expenses
are incurred by the Executive.




(c) To the extent that the provision of payments or reimbursements described
in this Section 3.12 results in taxable income to the Executive, the Company
shall pay the Executive an amount to satisfy the Executive’s Swiss and U.S.
income tax obligation. Such payment shall be grossed-up for taxes, and made
as soon as practicable after the tax liability arises but in no event later
than the end of the year following the year in which the tax is due.
Further, all payments or reimbursements described in this Section 3.12 shall
be made in accordance with the 409A rules set forth in Section
3.10 of this Agreement.




	2.	 	For the avoidance of doubt, the Side Agreement regarding Geneva Lease, effective as of May
28, 2010, remains unchanged and in full force and effect.






	3.	 	Counterparts. This Amendment may be executed in two or more counterparts, each of
which shall be deemed to be an original but all of which together will constitute one and the
same instrument.





[Signature Page Follows]






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IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to the Agreement as of
the date first written above.




	 	 	 	 	 
	 	FOSTER WHEELER INC.

 	 
	 	By:  	/s/ Beth B. Sexton
 	 
	 	 	Name:  	Beth B. Sexton 	 
	 	 	Title:  	Executive President, HR 	 
	 	 	 
	 	 	                                                   /s/ Michael S. Liebelson
 	 
	 	 	MICHAEL LIEBELSON 	 




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