The PBSJ Corporation Key Employee Capital Accumulation Plan



 Exhibit 10.2 
 THE PBSJ CORPORATION 
 KEY EMPLOYEE
CAPITAL ACCUMULATION PLAN 
 Effective Date 
 September 30, 2008 







 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

			
	 ARTICLE I
 Establishment and Purpose
	  	1
		
	 ARTICLE II
 Definitions
	  	1
		
	 ARTICLE III
 Eligibility and Participation
	  	7
		
	 ARTICLE IV
 Deferrals
	  	8
		
	 ARTICLE V
 Company Contributions
	  	11
		
	 ARTICLE VI
 Benefits
	  	12
		
	 ARTICLE VII
 Modifications to Payment Schedules
	  	15
		
	 ARTICLE VIII
 Valuation of Account Balances; Investments
	  	15
		
	 ARTICLE IX
 Administration
	  	17
		
	 ARTICLE X
 Amendment and Termination
	  	19
		
	 ARTICLE XI
 Informal Funding
	  	19
		
	 ARTICLE XII
 Claims
	  	20
		
	 ARTICLE XIII
 General Provisions
	  	24









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 ARTICLE I 
 Establishment and Purpose 
 The PBSJ Corporation (the “Company”) hereby adopts the The PBSJ Corporation Key Employee Capital
Accumulation Plan (the “Plan”), effective September 30, 2008. 
 This Plan shall be considered a continuation of a prior plan for Participants
who previously participated in a plan maintained by a Participating Employer that provided for a cash supplemental income benefit. In this regard, all cash supplemental income benefits due to Participants under such prior plan and who are listed on
the attached Schedule A shall be paid under this Plan. Any prior agreements providing for a cash supplemental income benefit under a prior plan will be null and void. 
 The purpose of the Plan is to attract and retain key employees by providing Participants with an opportunity to defer receipt of a portion of their salary, bonus, and other specified compensation. The Plan is not
intended to meet the qualification requirements of Code Section 401(a), but is intended to meet the requirements of Code Section 409A, and shall be operated and interpreted consistent with that intent. 
 The Plan constitutes an unsecured promise by a Participating Employer to pay benefits in the future. Participants in the Plan shall have the status of general unsecured
creditors of the Company or the Adopting Employer, as applicable. Each Participating Employer shall be solely responsible for payment of the benefits of its employees and their beneficiaries. The Plan is unfunded for Federal tax purposes and is
intended to be an unfunded arrangement for eligible employees who are part of a select group of management or highly compensated employees of the Employer within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. Any amounts set aside
to defray the liabilities assumed by the Company or an Adopting Employer will remain the general assets of the Company or the Adopting Employer and shall remain subject to the claims of the Company’s or the Adopting Employer’s creditors
until such amounts are distributed to the Participants. 
 ARTICLE II 
 Definitions 
  

	2.1	Account. Account means a bookkeeping account maintained by the Committee to record the payment obligation of a Participating Employer to a Participant as determined under the
terms of the Plan. The Committee may maintain an Account to record the total obligation to a Participant and component Accounts to reflect amounts payable at different times and in different forms. Reference to an Account means any such Account
established by the Committee, as the context requires. Accounts are intended to constitute unfunded obligations within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. 

  

	2.2	Account Balance. Account Balance means, with respect to any Account, the total payment obligation owed to a Participant from such Account as of the most recent Valuation
Date. 

  

 Page 1 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  


	2.3	Adopting Employer. Adopting Employer means an Affiliate who, with the consent of the Company, has adopted the Plan for the benefit of its eligible employees.


  

	2.4	Affiliate. Affiliate means a corporation, trade or business that, together with the Company, is treated as a single employer under Code Section 414(b) or (c).


  

	2.5	Beneficiary. Beneficiary means a natural person, estate, or trust designated by a Participant to receive payments to which a Beneficiary is entitled in accordance with
provisions of the Plan. The Participant’s spouse, if living, otherwise the Participant’s estate, shall be the Beneficiary if: (i) the Participant has failed to properly designate a Beneficiary, or (ii) all designated
Beneficiaries have predeceased the Participant. 

 A former spouse shall have no interest under the Plan, as Beneficiary or
otherwise, unless the Participant designates such person as a Beneficiary after dissolution of the marriage, except to the extent provided under the terms of a domestic relations order as described in Code Section 414(p)(1)(B). 
  

	2.6	Business Day. Business Day means each day on which the New York Stock Exchange is open for business. 

  

	2.7	Cash SIP Account. Cash SIP Account refers to a separate account reflecting the conversion of a Participant’s period certain annuity under the Company’s Supplemental
Income Program to an account balance benefit under this Plan as described in Section 5.2. The conversion balance will be adjusted for earnings subsequent to September 30, 2008 as provided under Article VIII. 

  

	2.8	Change in Control. Change in Control means, with respect to a Participating Employer that is organized as a corporation, any of the following events: (i) a change in the
ownership of the Participating Employer, (ii) a change in the effective control of the Participating Employer, or (iii) a change in the ownership of a substantial portion of the assets of the Participating Employer.


 For purposes of this Section, a change in the ownership of the Participating Employer occurs on the date on which any one
person, or more than one person acting as a group, acquires ownership of stock of the Participating Employer that, together with stock held by such person or group constitutes more than 50% of the total fair market value or total voting power of the
stock of the Participating Employer. A change in the effective control of the Participating Employer occurs on the date on which either: (i) a person, or more than one person acting as a group, acquires ownership of stock of the Participating
Employer possessing 30% or more of the total voting power of the stock of the Participating Employer, taking into account all such stock acquired during the 12-month period ending on the date of the most recent acquisition, or (ii) a majority
of the members of the Participating Employer’s Board of Directors is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of such Board of Directors prior to the date of the
appointment or election, but only if no other corporation is a majority shareholder of the Participating Employer. A change in the ownership of a substantial 

  

 Page 2 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 
portion of assets occurs on the date on which any one person, or more than one person acting as a group, other than a person or group of persons that is
related to the Participating Employer, acquires assets from the Participating Employer that have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the assets of the Participating Employer
immediately prior to such acquisition or acquisitions, taking into account all such assets acquired during the 12-month period ending on the date of the most recent acquisition. 
 An event constitutes a Change in Control with respect to a Participant only if the Participant performs services for the Participating Employer that has
experienced the Change in Control, or the Participant’s relationship to the affected Participating Employer otherwise satisfies the requirements of Treasury Regulation Section 1.409A-3(i)(5)(ii). 
 Notwithstanding anything to the contrary herein, with respect to a Participating Employer that is a partnership, Change in Control means only a change in
the ownership of the partnership or a change in the ownership of a substantial portion of the assets of the partnership, and the provisions set forth above respecting such changes relative to a corporation shall be applied by analogy. 
 The determination as to the occurrence of a Change in Control shall be based on objective facts and in accordance with the requirements of Code
Section 409A. 
  

	2.9	Claimant. Claimant means a Participant or Beneficiary filing a claim under Article XII of this Plan. 

  

	2.10	Code. Code means the Internal Revenue Code of 1986, as amended from time to time. 

  

	2.11	Code Section 409A. Code Section 409A means section 409A of the Code, and regulations and other guidance issued by the Treasury Department and Internal Revenue
Service thereunder. 

  

	2.12	Committee. Committee means the committee appointed by the Board of Directors of the Company (or the appropriate committee of such board) to administer the Plan. If no
designation is made, the Chief Executive Officer of the Company or his delegate shall have and exercise the powers of the Committee. 

  

	2.13	Company. Company means The PBSJ Corporation. 

  

	2.14	Company Contribution. Company Contribution means a credit by a Participating Employer to a Participant’s Account(s) in accordance with the provisions of Article V of the
Plan. 

 Company Contributions are credited at the sole discretion of the Participating Employer and the fact that a Company
Contribution is credited in one year shall not obligate the Participating Employer to continue to make such Company Contribution in subsequent years. Unless the context clearly indicates otherwise, a reference to a Company Contribution shall include
Earnings attributable to such contribution. 
  

 Page 3 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  


	2.15	Company Stock. Company Stock means phantom shares of common stock issued by Company. 

  

	2.16	Compensation. Compensation means a Participant’s base salary, bonus, commission, and such other cash or equity-based compensation (if any) approved by the Committee as
Compensation that may be deferred under this Plan. Compensation shall not include any compensation that has been previously deferred under this Plan or any other arrangement subject to Code Section 409A. 

  

	2.17	Compensation Deferral Agreement. Compensation Deferral Agreement means an agreement between a Participant and a Participating Employer that specifies: (i) the amount of
each component of Compensation that the Participant has elected to defer to the Plan in accordance with the provisions of Article IV, and (ii) the Payment Schedule applicable to one or more Accounts. The Committee may permit different deferral
amounts for each component of Compensation and may establish a minimum or maximum deferral amount for each such component. Unless otherwise specified by the Committee in the Compensation Deferral Agreement, Participants may defer up to (70%) of
their base salary and up to (100%) of other types of Compensation for a Plan Year. A Compensation Deferral Agreement may also specify the investment allocation described in Section 8.4. 

  

	2.18	Death Benefit. Death Benefit means the benefit payable under the Plan to a Participant’s Beneficiary(ies) upon the Participant’s death as provided in
Section 6.1 of the Plan. 

  

	2.19	Deferral. Deferral means a credit to a Participant’s Account(s) that records that portion of the Participant’s Compensation that the Participant has elected to
defer to the Plan in accordance with the provisions of Article IV. Unless the context of the Plan clearly indicates otherwise, a reference to Deferrals includes Earnings attributable to such Deferrals. 

 Deferrals shall be calculated with respect to the gross cash Compensation payable to the Participant prior to any deductions or withholdings, but shall be
reduced by the Committee as necessary so that it does not exceed 100% of the cash Compensation of the Participant remaining after deduction of all required income and employment taxes, 401(k) and other employee benefit deductions, and other
deductions required by law. Changes to payroll withholdings that affect the amount of Compensation being deferred to the Plan shall be allowed only to the extent permissible under Code Section 409A. 
  

	2.20	Earnings. Earnings means an adjustment to the value of an Account in accordance with Article VIII. 

  

	2.21	Effective Date. Effective Date means September 30, 2008. 

  

 Page 4 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  


	2.22	Eligible Employee. Eligible Employee means a member of a “select group of management or highly compensated employees” of a Participating Employer within the meaning
of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, as determined by the Committee from time to time in its sole discretion. 

  

	2.23	Employee. Employee means a common-law employee of an Employer. 

  

	2.24	Employer. Employer means, with respect to Employees it employs, the Company and each Affiliate. 

  

	2.25	ERISA. ERISA means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

  

	2.26	Fiscal Year Compensation. Fiscal Year Compensation means Compensation earned during one or more consecutive fiscal years of a Participating Employer, all of which is paid
after the last day of such fiscal year or years. 

  

	2.27	Participant. Participant means an Eligible Employee who has received notification of his or her eligibility to defer Compensation under the Plan under Section 3.1 and
any other person with an Account Balance greater than zero, regardless of whether such individual continues to be an Eligible Employee. A Participant’s continued participation in the Plan shall be governed by Section 3.2 of the Plan.


  

	2.28	Participating Employer. Participating Employer means the Company and each Adopting Employer. 

  

	2.29	Payment Schedule. Payment Schedule means the date as of which payment of an Account under the Plan will commence and the form in which payment of such Account will be made.


  

	2.30	Performance-Based Compensation. Performance-Based Compensation means Compensation where the amount of, or entitlement to, the Compensation is contingent on the satisfaction
of pre-established organizational or individual performance criteria relating to a performance period of at least 12 consecutive months. Organizational or individual performance criteria are considered pre-established if established in writing by
not later than 90 days after the commencement of the period of service to which the criteria relate, provided that the outcome is substantially uncertain at the time the criteria are established. The determination of whether Compensation qualifies
as “Performance-Based Compensation” will be made in accordance with Treas. Reg. Section 1.409A-1(e) and subsequent guidance. 

  

	2.31	Plan. Generally, the term Plan means the “The PBSJ Corporation Key Employee Capital Accumulation Plan” as documented herein and as may be amended from time to time
hereafter. However, to the extent permitted or required under Code Section 409A, the term Plan may in the appropriate context also mean a portion of the Plan that is treated as a single plan under Treas. Reg. Section 1.409A-1(c), or the
Plan or portion of the Plan and any other nonqualified deferred compensation plan or portion thereof that is treated as a single plan under such section. 

  


 Page 5 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  


	2.32	Plan Year. Plan Year means January 1 through December 31. 

  

	2.33	Separation from Service. Separation from Service means an Employee’s termination of employment with the Employer. Whether a Separation from Service has occurred shall be
determined by the Committee in accordance with Code Section 409A. 

 Except in the case of an Employee on a bona fide leave
of absence as provided below, an Employee is deemed to have incurred a Separation from Service if the Employer and the Employee reasonably anticipated that the level of services to be performed by the Employee after a date certain would be reduced
to 20% or less of the average services rendered by the Employee during the immediately preceding 36-month period (or the total period of employment, if less than 36 months), disregarding periods during which the Employee was on a bona fide leave of
absence. 
 An Employee who is absent from work due to military leave, sick leave, or other bona fide leave of absence shall incur a
Separation from Service on the first date immediately following the later of: (i) the six month anniversary of the commencement of the leave; or (ii) the expiration of the Employee’s right, if any, to reemployment under statute or
contract. Notwithstanding the preceding, however, an Employee who is absent from work due to a physical or mental impairment that is expected to result in death or last for a continuous period of at least six months and that prevents the Employee
from performing the duties of his position of employment or a similar position shall incur a Separation from Service on the first date immediately following the 29-month anniversary of the commencement of the leave. 
 For purposes of determining whether a Separation from Service has occurred, the Employer means the Employer as defined in Section 2.24 of the Plan,
except that for purposes of determining whether another organization is an Affiliate of the Company, common ownership of at least fifty percent (50%) shall be determinative. 
 The Committee specifically reserves the right to determine whether a sale or other disposition of substantial assets to an unrelated party constitutes a
Separation from Service with respect to a Participant providing services to the seller immediately prior to the transaction and providing services to the buyer after the transaction. Such determination shall be made in accordance with the
requirements of Code Section 409A. 
  

	2.34	Specified Date Account. Specified Date Account means an Account established by the Committee to record the amounts payable at a future date as specified in the
Participant’s Compensation Deferral Agreement. Unless otherwise determined by the Committee, a Participant may maintain no more than five Specified Date Accounts. A Specified Date Account may be identified in enrollment materials as an
“In-Service Account” or such other name as established by the Committee without affecting the meaning thereof. 

  

 Page 6 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  


	2.35	Specified Date Benefit. Specified Date Benefit means the benefit payable to a Participant under the Plan in accordance with Section 6.1(c). 

  

	2.36	Substantial Risk of Forfeiture. Substantial Risk of Forfeiture means the description specified in Treas. Reg. Section 1.409A-1(d). 

  

	2.37	Termination Benefit. Termination Benefit means the benefit payable to a Participant under the Plan following the Participant’s Separation from Service.


  

	2.38	Termination Account. Termination Account means an Account established by the Committee to record the amounts payable to a Participant upon Separation from Service. Unless the
Participant has established a Specified Date Account, all Deferrals and Company Contributions shall be allocated to a Termination Account on behalf of the Participant. 

  

	2.39	Unforeseeable Emergency. Unforeseeable Emergency means a severe financial hardship to the Participant resulting from an illness or accident of the Participant, the
Participant’s spouse, the Participant’s dependent (as defined in Code section 152, without regard to section 152(b)(1), (b)(2), and (d)(1)(B)), or a Beneficiary; loss of the Participant’s property due to casualty (including the need
to rebuild a home following damage to a home not otherwise covered by insurance, for example, as a result of a natural disaster); or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the
Participant. The types of events which may qualify as an Unforeseeable Emergency may be limited by the Committee. 

  

	2.40	Valuation Date. Valuation Date means each Business Day. 

 ARTICLE III 
 Eligibility and Participation 
  

	3.1	Eligibility and Participation. An Eligible Employee becomes a Participant upon the earlier to occur of: (i) a credit of Company Contributions under Article V, or
(ii) receipt of notification of eligibility to participate. 

  

	3.2	Duration. A Participant shall be eligible to defer Compensation and receive allocations of Company Contributions, subject to the terms of the Plan, for as long as such
Participant remains an Eligible Employee. A Participant who is no longer an Eligible Employee but has not Separated from Service may not defer Compensation under the Plan beyond the Plan Year in which he or she became ineligible but may otherwise
exercise all of the rights of a Participant under the Plan with respect to his or her Account(s). On and after a Separation from Service, a Participant shall remain a Participant as long as his or her Account Balance is greater than zero (0), and
during such time may continue to make investment allocation elections as provided in Section 8.4. An individual shall cease being a Participant in the Plan when all benefits under the Plan to which he or she is entitled have been paid.


  

 Page 7 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 ARTICLE IV 
 Deferrals 
  

	4.1	Deferral Elections. Generally. 

  

	 	(a)	A Participant may elect to defer Compensation by submitting a Compensation Deferral Agreement during the enrollment periods established by the Committee and in the manner specified
by the Committee, but in any event, in accordance with Section 4.2. A Compensation Deferral Agreement that is not timely filed with respect to a service period or component of Compensation shall be considered void and shall have no effect with
respect to such service period or Compensation. The Committee may modify any Compensation Deferral Agreement prior to the date the election becomes irrevocable under the rules of Section 4.2. 

  

	 	(b)	The Participant shall specify on his or her Compensation Deferral Agreement the amount of Deferrals and whether to allocate Deferrals to a Retirement/Termination Account or to a
Specified Date Account. If no designation is made, Deferrals shall be allocated to the Retirement/Termination Account. A Participant may also specify in his or her Compensation Deferral Agreement the Payment Schedule applicable to his or her Plan
Accounts. If the Payment Schedule is not specified in a Compensation Deferral Agreement, the Payment Schedule shall be the Payment Schedule specified in Section 6.2. 

  

	4.2	Timing Requirements for Compensation Deferral Agreements. 

  

	 	(a)	First Year of Eligibility. In the case of the first year in which an Eligible Employee becomes eligible to participate in the Plan, he or she has up to 30 days following his
or her initial eligibility to submit a Compensation Deferral Agreement with respect to Compensation to be earned during such year. The Compensation Deferral Agreement described in this paragraph becomes irrevocable upon the end of such 30-day
period. The determination of whether an Eligible Employee may file a Compensation Deferral Agreement under this paragraph shall be determined in accordance with the rules of Code Section 409A, including the provisions of Treas. Reg.
Section 1.409A-2(a)(7). 

 A Compensation Deferral Agreement filed under this paragraph applies to Compensation earned on
and after the date the Compensation Deferral Agreement becomes irrevocable. 
  

	 	(b)	Prior Year Election. Except as otherwise provided in this Section 4.2, Participants may defer Compensation by filing a Compensation Deferral Agreement no later than
December 31 of the year prior to the year in which the Compensation to be deferred is earned. A Compensation Deferral Agreement described in this paragraph shall become irrevocable with respect to such Compensation as of January 1 of the
year in which such Compensation is earned. 

  

 Page 8 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  


	 	(c)	Performance-Based Compensation. Participants may file a Compensation Deferral Agreement with respect to Performance-Based Compensation no later than the date that is six
months before the end of the performance period, provided that: 

  

	 	(i)	the Participant performs services continuously from the later of the beginning of the performance period or the date the criteria are established through the date the Compensation
Deferral Agreement is submitted; and 

  

	 	(ii)	the Compensation is not readily ascertainable as of the date the Compensation Deferral Agreement is filed. 

 A Compensation Deferral Agreement becomes irrevocable with respect to Performance-Based Compensation as of the day immediately following the latest date
for filing such election. Any election to defer Performance-Based Compensation that is made in accordance with this paragraph and that becomes payable as a result of the Participant’s death or disability (as defined in Treas. Reg.
Section 1.409A-1(e)) or upon a Change in Control (as defined in Treas. Reg. Section 1.409A-3(i)(5)) prior to the satisfaction of the performance criteria, will be void. 
  

	 	(d)	Fiscal Year Compensation. A Participant may defer Fiscal Year Compensation by filing a Compensation Deferral Agreement prior to the first day of the fiscal year or years in
which such Fiscal Year Compensation is earned. The Compensation Deferral Agreement described in this paragraph becomes irrevocable on the first day of the fiscal year or years to which it applies. 

  

	 	(e)	Short-Term Deferrals. Compensation that meets the definition of a “short-term deferral” described in Treas. Reg. Section 1.409A-1(b)(4) may be deferred in
accordance with the rules of Article VII, applied as if the date the Substantial Risk of Forfeiture lapses is the date payments were originally scheduled to commence, provided, however, that the provisions of Section 7.3 shall not apply to
payments attributable to a Change in Control (as defined in Treas. Reg. Section 1.409A-3(i)(5)). 

  

	 	 (f)
	 Company Awards Subject to Forfeiture. An election to defer a Company award that is subject to a substantial risk
of forfeiture may be made on or before the 30th day after the award date, provided that the portion of the award subject to deferral vests at least
13 months after the award date. The Compensation Deferral Agreement described in this paragraph becomes irrevocable after such 30th day. If the
award vests before the end of the required service period as a result of the Participant’s death or disability (as defined in Treas. Reg. Section 1.409A-3(i)(4)) or upon a Change in Control (as defined in Treas. Reg.
Section 1.409A-3(i)(5)), the Compensation Deferral Agreement will be void unless it would be considered timely under another rule described in this Section. 


  

 Page 9 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  


	 	(g)	Company A wards Not Subject to Forfeiture. Participating Employers may unilaterally provide for deferrals of Company awards prior to the date of such awards. Deferrals of
Company awards (such as sign-on, retention, or severance pay) may be negotiated with a Participant prior to the date the Participant has a legally binding right to such Compensation. 

  

	 	(h)	“Evergreen” Deferral Elections. The Committee, in its discretion, may provide in the Compensation Deferral Agreement that such Compensation Deferral Agreement will
continue in effect for each subsequent year or performance period. Such “evergreen” Compensation Deferral Agreements will become effective with respect to an item of Compensation on the date such election becomes irrevocable under this
Section 4.2. An evergreen Compensation Deferral Agreement may be terminated or modified prospectively with respect to Compensation for which such election remains revocable under this Section 4.2. A Participant whose Compensation Deferral
Agreement is cancelled in accordance with Section 4.6 will be required to file a new Compensation Deferral Agreement under this Article IV in order to recommence Deferrals under the Plan. 

  

	4.3	Allocation of Deferrals. A Compensation Deferral Agreement may allocate Deferrals to one or more Specified Date Accounts and/or to the Retirement/Termination Account. The
Committee may, in its discretion, establish a minimum deferral period for the establishment of a Specified Date Account (for example, the third Plan Year following the year Compensation is allocated to such account). 

  

	4.4	Deductions from Pay. The Committee has the authority to determine the payroll practices under which any component of Compensation subject to a Compensation Deferral Agreement
will be deducted from a Participant’s Compensation. 

  

	4.5	Vesting. Participant Deferrals shall be 100% vested at all times. 

  

	 4.6
	 Cancellation of Deferrals. The Committee may cancel a Participant’s Deferrals: (i) for the balance of
the Plan Year in which an Unforeseeable Emergency occurs, (ii) if the Participant receives a hardship distribution under the Employer’s qualified 401 (k) plan, through the end of the Plan Year in which the six month anniversary of the
hardship distribution falls, and (iii) during periods in which the Participant is unable to perform the duties of his or her position or any substantially similar position due to a mental or physical impairment that can be expected to result in
death or last for a continuous period of at least six months, provided cancellation occurs by the later of the end of the taxable year of the Participant or the 15th day of the third month following the date the Participant incurs the disability (as defined in this paragraph (iii)). 


  


 Page 10 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 ARTICLE V 
 Company Contributions 
  

	5.1	Discretionary Company Contributions. The Participating Employer may, from time to time in its sole and absolute discretion, credit Company Contributions to any Participant in
any amount determined by the Participating Employer. Such contributions will be credited to a Participant’s Termination Account. 

  

	5.2	Cash SIP Account. The Company will credit a Participant’s Cash SIP Account in an amount equal to the present value, determined as of September 30, 2008, of his or
her Supplemental Income Program (“SIP”) benefit. The calculation of the present value amount assumes payment under the SIP at the later of: (i) age 56; (ii) ten years of participation in the SIP; and (iii) September 30,
2008. The discount rate for calculating the present value amount is 7%. For participants who have not attained age 56 as of September 30, 2008, the present value calculation is limited to the vested portion of the SIP benefit as of
September 30, 2008. 

 Under no circumstance will the present value calculation result in a reduction in the value of the
Participant’s vested SIP account as of September 30, 2008. 
 The conversion balance will be adjusted for earnings subsequent to
September 30, 2008 as provided under Article VIII. 
  

	5.3	Vesting. Company Contributions described in Section 5.1, above, and the Earnings thereon, shall vest in accordance with the vesting schedule(s) established by the
Committee at the time that the Company Contribution is made. 

 Balances in a Participant’s Cash SIP Account described in
Section 5.2 vest in accordance with the vesting schedule specified in Schedule B, attached. 
 If no vesting schedule is specified for a
given Company Contribution, such Company Contribution will become 100% vested on November 1 of the fifth year following the year in which the Company Contribution was credited, provided the Participant is employed continuously during such
period. Notwithstanding any other provision of the Plan to the contrary, Company Contributions shall become 100% vested upon the first occurrence of the following events, and while the Participant is employed by an Employer: (i) the death of a
Participant; (ii) the Retirement of the Participant after attainment of age 65 or age 60 with completion of 10 Years of Service; (iii) upon a determination of disability under the Company’s long-term disability plan (or if no such
plan is in existence, upon a permanent and total disability (within the meaning is Section 22(e) of the Code), as determined by a medical doctor satisfactory to the Committee; or (iv) a Change in Control affecting the Participant’s
Employer. In addition to the foregoing, the Participating Employer may, at any time, in its sole discretion, increase a Participant’s vested interest in a Company Contribution. The portion of a Participant’s Accounts that remains unvested
upon his or her Separation from Service after the application of the terms of this Section 5.2 shall be forfeited. 
  

 Page 11 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 ARTICLE VI 
 Benefits 
  

	6.1	Benefits, Generally. A Participant shall be entitled to the following benefits under the Plan: 

  

	 	(a)	Termination Benefit. Upon the Participant’s Separation from Service for reasons other than death, he or she shall be entitled to a Termination Benefit. The Termination
Benefit shall be equal to the vested portion of the Termination Account and: (i) if the Termination Account is payable in a lump sum, the unpaid balances of any Specified Date Accounts; or (ii) if the Termination Account is payable in
installments, the vested portion of any Specified Date Accounts with respect to which payments have not yet commenced. The Termination Benefit shall be based on the value of that Account(s) as of the end of the sixth month following the month in
which Separation from Service occurs. Payment of the Termination Benefit will be made or begin the first day of the seventh month following the month in which Separation from Service occurs 

  

	 	(b)	Cash SIP Benefit. Upon the Participant’s Separation from Service for reasons other than death, he or she shall be entitled to a Cash SIP Benefit. The Cash SIP Benefit
shall be equal to the vested portion of the Cash SIP Account. The Cash SIP Benefit shall be based on the value of the Cash SIP Account as of the end of the sixth month following the month in which Separation from Service occurs. Payment of the Cash
SIP Benefit will be made or begin the first day of the seventh month following the month in which Separation from Service occurs. 

  

	 	(c)	Specified Date Benefit. If the Participant has established one or more Specified Date Accounts, he or she shall be entitled to a Specified Date Benefit with respect to each
such Specified Date Account. The Specified Date Benefit shall be equal to the vested portion of the Specified Date Account, based on the value of that Account as of the end of the month designated by the Participant at the time the Account was
established. Payment of the Specified Date Benefit will be made or begin the first day of the month following the designated month. 

  

	 	(d)	Death Benefit. In the event of the Participant’s death, his or her designated Beneficiary(ies) shall be entitled to a Death Benefit. The Death Benefit shall be equal to
the vested portion of the Participant’s Accounts. The Death Benefit shall be based on the value of the Accounts as of the end of the month in which death occurred, with payment made in the first day of the following month.


  

	 	(e)	 Unforeseeable Emergency Payments. A Participant who experiences an Unforeseeable Emergency may submit a written request to the Committee to receive payment
of all or any portion of his or her vested Accounts. Whether a Participant or Beneficiary is faced with an Unforeseeable Emergency permitting an emergency payment shall be determined by the Committee based on the relevant facts and circumstances of
each case, but, in any case, a distribution on account of Unforeseeable Emergency may not be made to the extent that such emergency is or may be reimbursed through insurance 



  

 Page 12 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  


	 	 
or otherwise, by liquidation of the Participant’s assets, to the extent the liquidation of such assets would not cause severe financial hardship, or by
cessation of Deferrals under this Plan. If an emergency payment is approved by the Committee, the amount of the payment shall not exceed the amount reasonably necessary to satisfy the need, taking into account the additional compensation that is
available to the Participant as the result of cancellation of deferrals to the Plan, including amounts necessary to pay any taxes or penalties that the Participant reasonably anticipates will result from the payment. The amount of the emergency
payment shall be subtracted first from the vested portion of the Participant’s Termination Account until depleted, then from the SIP Account and then from the vested Specified Date Accounts, beginning with the Specified Date Account with the
latest payment commencement date. Emergency payments shall be paid in a single lump sum within the 90-day period following the date the payment is approved by the Committee. 


  

	6.2	Form of Payment. 

  

	 	(a)	Termination Benefit. A Participant who is entitled to receive a Termination Benefit shall receive payment of such benefit in a single lump sum, unless the Participant elects
on his or her initial Compensation Deferral Agreement to have such benefit paid in one of the following alternative forms of payment: (i) substantially equal annual installments over a period of two to ten years, as elected by the Participant;
or (ii) a lump sum payment of a percentage of the balance in the Termination Account, with the balance paid in substantially equal annual installments over a period of two to ten years, as elected by the Participant. 


 

	 	(b)	Cash SIP Benefit. A Participant who is entitled to receive a Cash SIP Benefit shall receive payment of such benefit in a single lump sum, unless the Participant elects on or
before December 31, 2008 to have such benefit paid in one of the following alternative forms of payment: (i) substantially equal annual installments over a period of two to ten years, as elected by the Participant; or (ii) a lump sum
payment of a percentage of the balance in the Cash SIP Account, with the balance paid in substantially equal annual installments over a period of two to ten years, as elected by the Participant. A Participant who elects, as of the Effective Date, to
invest any portion of his or her Cash SIP Account in the 7% guaranteed return investment option as provided in Section 8.3 will be deemed to have elected ten annual installments as the Payment Schedule for the Cash SIP Account.


  

	 	(c)	Specified Date Benefit. The Specified Date Benefit shall be paid in a single lump sum, unless the Participant elects on the Compensation Deferral Agreement with which the
account was established to have the Specified Date Account paid in substantially equal annual installments over a period of two to five years, as elected by the Participant. 

  

 Page 13 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 Notwithstanding any election of a form of payment by the Participant, upon a Separation from Service
the unpaid balance of a Specified Date Account with respect to which payments have not commenced shall be paid in accordance with the form of payment applicable to the Termination, or Death Benefit, as applicable. If such benefit is payable in a
single lump sum, the unpaid balance of all Specified Date Accounts (including those in pay status) will be paid in a lump sum. 
  

	 	(d)	Death Benefit. A designated Beneficiary who is entitled to receive a Death Benefit shall receive payment of such benefit in a single lump sum. 

  

	 	(e)	Change in Control. A Participant will receive a single lump sum payment equal to the unpaid balance of all of his or her Accounts if Separation from Service occurs within 24
months following a Change in Control. 

 A Participant or Beneficiary receiving installment payments when a Change in Control
occurs, will receive the remaining account balance in a single lump sum within 90 days following the Change in Control. 
  

	 	(f)	Small Account Balances. The Committee shall pay the value of the Participant’s Accounts upon a Separation from Service in a single lump sum if the balance of such
Accounts is less than $25,000. 

  

	 	(g)	Rules Applicable to Installment Payments. If a Payment Schedule specifies installment payments, annual payments will be made beginning as of the payment commencement date for
such installments and shall continue on each anniversary thereof until the number of installment payments specified in the Payment Schedule has been paid. The amount of each installment payment shall be determined by dividing (a) by (b), where
(a) equals the Account Balance as of the Valuation Date and (b) equals the remaining number of installment payments. 

 For purposes of Article VII, installment payments will be treated as a single form of payment. If a lump sum equal to less than 100% of the Termination Account is paid, the payment commencement date for the installment form of payment will
be the first anniversary of the payment of the lump sum. 
  

	6.3	Acceleration of or Delay in Payments. The Committee, in its sole and absolute discretion, may elect to accelerate the time or form of payment of a benefit owed to the
Participant hereunder, provided such acceleration is permitted under Treas. Reg. Section 1.409A-3(j)(4). The Committee may also, in its sole and absolute discretion, delay the time for payment of a benefit owed to the Participant hereunder, to
the extent permitted under Treas. Reg. Section 1.409A-2(b)(7). If the Plan receives a domestic relations order (within the meaning of Code Section 414(p)(1)(B)) directing that all or a portion of a Participant’s Accounts be paid to an
“alternate payee,” any amounts to be paid to the alternate payee(s) shall be paid in a single lump sum. 

  

 Page 14 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 ARTICLE VII 
 Modifications to Payment Schedules 
  

	7.1	Participant’s Right to Modify. A Participant may modify any or all of the alternative Payment Schedules with respect to an Account, consistent with the permissible
Payment Schedules available under the Plan, provided such modification complies with the requirements of this Article VII. However, a Participant who has allocated any portion of his or her Cash SIP Account to the 7% guaranteed return investment
option in accordance with Section 8.3 must receive such Account in ten annual installments as provided in Section 6.2(b), and may not subsequently modify the form of payment under the Payment Schedule applicable to such Account.


  

	7.2	Time of Election. The date on which a modification election is submitted to the Committee must be at least 12 months prior to the date on which payment is scheduled to
commence under the Payment Schedule in effect prior to the modification. 

  

	7.3	Date of Payment under Modified Payment Schedule. Except with respect to modifications that relate to the payment of a Death Benefit, the date payments are to commence under
the modified Payment Schedule must be no earlier than five years after the date payment would have commenced under the original Payment Schedule. Under no circumstances may a modification election result in an acceleration of payments in violation
of Code Section 409A. 

  

	7.4	Effective Date. A modification election submitted in accordance with this Article VII is irrevocable upon receipt by the Committee and becomes effective 12 months after such
date. 

  

	7.5	Effect on Accounts. An election to modify a Payment Schedule is specific to the Account or payment event to which it applies, and shall not be construed to affect the Payment
Schedules of any other Accounts. 

 ARTICLE VIII 
 Valuation of Account Balances; Investments 
  

	8.1	Valuation. Deferrals shall be credited to appropriate Accounts on the date such Compensation would have been paid to the Participant absent the Compensation Deferral
Agreement. Company Contributions shall be credited to the Termination Account at the times determined by the Committee. Valuation of Accounts shall be performed under procedures approved by the Committee. 

  

	8.2	Earnings Credit. Each Account will be credited with Earnings on each Business Day, based upon the Participant’s investment allocation among a menu of investment options
selected in advance by the Committee, in accordance with the provisions of this Article VIII (“investment allocation”). 

  

	8.3	Investment Options. Investment options will be determined by the Committee. The Committee, in its sole discretion, shall be permitted to add or remove investment options from
the Plan menu from time to time, provided that any such additions or 


	 	removals of investment options shall not be effective with respect to any period prior to the effective date of such change. 

  

 Page 15 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 The Company will offer Participants who (i) have attained age 60 as of September 30, 2008 and
(ii) have a Cash SIP Account the option to make an initial investment allocation to an option that guarantees an annual rate of return equal to 7%. The 7% guaranteed return is the same as the discount rate used to determine the present value of
the Participant’s Cash SIP Account balance under Section 5.2. The 7% guaranteed return option is available only for the Participant’s initial investment allocation of the Cash SIP Account balance. Once an allocation is made to
another investment option, amounts may not be reallocated to the 7% guaranteed return option. An allocation of all or a portion of the Cash SIP Account to the 7% guaranteed return option also means the Participant will receive his or her Cash SIP
Account in ten annual installments as provided in Section 6.2(b). 
  

	8.4	Investment Allocations. A Participant’s investment allocation constitutes a deemed, not actual, investment among the investment options comprising the investment menu.
At no time shall a Participant have any real or beneficial ownership in any investment option included in the investment menu, nor shall the Participating Employer or any trustee acting on its behalf have any obligation to purchase actual securities
as a result of a Participant’s investment allocation. A Participant’s investment allocation shall be used solely for purposes of adjusting the value of a Participant’s Account Balances. 

 A Participant shall specify an investment allocation for each of his Accounts in accordance with procedures established by the Committee. Allocation among
the investment options must be designated in increments of 1%. The Participant’s investment allocation will become effective on the same Business Day or, in the case of investment allocations received after a time specified by the Committee,
the next Business Day. 
 A Participant may change an investment allocation on any Business Day, both with respect to future credits to the
Plan and with respect to existing Account Balances, in accordance with procedures adopted by the Committee. Changes shall become effective on the same Business Day or, in the case of investment allocations received after a time specified by the
Committee, the next Business Day, and shall be applied prospectively. 
 Participants with Cash SIP Accounts may re-allocate all or a portion
of an initial investment in the 7% guaranteed return investment option to any other investment option under the Plan. Once re-allocated, such amounts may not again be invested in the 7% guaranteed return investment option. 
  

	8.5	Unallocated Deferrals and Accounts. If the Participant fails to make an investment allocation with respect to an Account, such Account shall be invested in an investment
option, the primary objective of which is the preservation of capital, as determined by the Committee. 

  

 Page 16 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  


	8.6	Company Stock. The Committee may include Company Stock as one of the investment options described in Section 8.3. The Committee may, in its sole discretion, limit the
investment allocation of Company Contributions to Company Stock. The Committee may also require Deferrals consisting of equity-based Compensation to be allocated to Company Stock. 

  

	8.7	Diversification. A Participant may not re-allocate an investment in Company Stock into another investment option. The portion of an Account that is invested in Company Stock
will be paid under Article VI in the form of whole shares of Company Stock. 

  

	8.8	Effect on Installment Payments. If an Account is to be paid in installments, the Committee will determine the portion of each payment that will be paid in the form of Company
Stock. 

  

	8.9	Dividend Equivalents. Dividend equivalents with respect to Company Stock will be credited to the applicable Accounts in the form of additional shares or units of Company
Stock. 

 ARTICLE IX 
 Administration 
  

	9.1	Plan Administration. This Plan shall be administered by the Committee which shall have discretionary authority to make, amend, interpret and enforce all appropriate rules and
regulations for the administration of this Plan and to utilize its discretion to decide or resolve any and all questions, including but not limited to eligibility for benefits and interpretations of this Plan and its terms, as may arise in
connection with the Plan. Claims for benefits shall be filed with the Committee and resolved in accordance with the claims procedures in Article XII. 

  

	9.2	Administration Upon Change in Control. Upon a Change in Control, the Committee, as constituted immediately prior to such Change in Control, shall continue to act as the
Committee. The individual who was the Chief Executive Officer of the Company (or if such person is unable or unwilling to act, the next highest ranking officer) prior to the Change in Control shall have the authority (but shall not be obligated) to
appoint an independent third party to act as the Committee. 

 Upon such Change in Control, the Company may not remove the
Committee, unless 2/3rds of the members of the Board of Directors of the Company and a majority of Participants and Beneficiaries with Account Balances consent to the removal and replacement of the Committee. Notwithstanding the foregoing, neither
the Committee nor the officer described above shall have authority to direct investment of trust assets under any rabbi trust described in Section 11.2. 
 The Participating Employer shall, with respect to the Committee identified under this Section: (i) pay all reasonable expenses and fees of the Committee; (ii) indemnify the Committee (including individuals
serving as Committee members) against any 

  

 Page 17 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 
costs, expenses and liabilities including, without limitation, attorneys’ fees and expenses arising in connection with the performance of the
Committee’s duties hereunder, except with respect to matters resulting from the Committee’s gross negligence or willful misconduct; and (iii) supply full and timely information to the Committee on all matters related to the Plan, any
rabbi trust, Participants, Beneficiaries and Accounts as the Committee may reasonably require. 
  

	9.3	Withholding. The Participating Employer shall have the right to withhold from any payment due under the Plan (or with respect to any amounts credited to the Plan) any taxes
required by law to be withheld in respect of such payment (or credit). Withholdings with respect to amounts credited to the Plan shall be deducted from Compensation that has not been deferred to the Plan. 

  

	9.4	Indemnification. The Participating Employers shall indemnify and hold harmless each employee, officer, director, agent or organization, to whom or to which are delegated
duties, responsibilities, and authority under the Plan or otherwise with respect to administration of the Plan, including, without limitation, the Committee and its agents, against all claims, liabilities, fines and penalties, and all expenses
reasonably incurred by or imposed upon him or it (including but not limited to reasonable attorney fees) which arise as a result of his or its actions or failure to act in connection with the operation and administration of the Plan to the extent
lawfully allowable and to the extent that such claim, liability, fine, penalty, or expense is not paid for by liability insurance purchased or paid for by the Participating Employer. Notwithstanding the foregoing, the Participating Employer shall
not indemnify any person or organization if his or its actions or failure to act are due to gross negligence or willful misconduct or for any such amount incurred through any settlement or compromise of any action unless the Participating Employer
consents in writing to such settlement or compromise. 

  

	9.5	Delegation of Authority. In the administration of this Plan, the Committee may, from time to time, employ agents and delegate to them such administrative duties as it sees
fit, and may from time to time consult with legal counsel who shall be legal counsel to the Company. 

  

	9.6	Binding Decisions or Actions. The decision or action of the Committee in respect of any question arising out of or in connection with the administration, interpretation and
application of the Plan and the rules and regulations thereunder shall be final and conclusive and binding upon all persons having any interest in the Plan. 

  

	9.7	Accounts Taxable Under Code Section 409A. The Plan is intended to constitute a plan of deferred compensation that meets the requirements for deferral of income taxation
under Code Section 409A. The Committee, pursuant to its authority to interpret the Plan, may sever from the Plan or any Compensation Deferral Agreement any provision or exercise of a right that otherwise would result in a violation of Code
Section 409A. 

  

 Page 18 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 ARTICLE X 
 Amendment and Termination 
  

	10.1	Amendment and Termination. The Company may at any time and from time to time amend the Plan or may terminate the Plan as provided in this Article X. Each Participating
Employer may also terminate its participation in the Plan. 

  

	10.2	Amendments. The Company, by action taken by its Board of Directors, may amend the Plan at any time and for any reason, provided that any such amendment shall not reduce the
vested Account Balances of any Participant accrued as of the date of any such amendment or restatement (as if the Participant had incurred a voluntary Separation from Service on such date) or reduce any rights of a Participant under the Plan or
other Plan features with respect to Deferrals made prior to the date of any such amendment or restatement without the consent of the Participant. The Board of Directors of the Company may delegate to the Committee the authority to amend the Plan
without the consent of the Board of Directors for the purpose of: (i) conforming the Plan to the requirements of law; (ii) facilitating the administration of the Plan; (iii) clarifying provisions based on the Committee’s
interpretation of the document; and (iv) making such other amendments as the Board of Directors may authorize. 

  

	10.3	Termination. The Company, by action taken by its Board of Directors, may terminate the Plan and pay Participants and Beneficiaries their Account Balances in a single lump sum
at any time, to the extent and in accordance with Treas. Reg. Section 1.409A-3(j)(4)(ix). If a Participating Employer terminates its participation in the Plan, the benefits of affected Employees shall be paid at the time provided in Article VI.


 ARTICLE XI 
 Informal
Funding 
  

	11.1	General Assets. Obligations established under the terms of the Plan may be satisfied from the general funds of the Participating Employers, or a trust described in this
Article XI. No Participant, spouse or Beneficiary shall have any right, title or interest whatever in assets of the Participating Employers. Nothing contained in this Plan, and no action taken pursuant to its provisions, shall create or be construed
to create a trust of any kind, or a fiduciary relationship, between the Participating Employers and any Employee, spouse, or Beneficiary. To the extent that any person acquires a right to receive payments hereunder, such rights are no greater than
the right of an unsecured general creditor of the Participating Employer. 

  

	11.2	Rabbi Trust. A Participating Employer may, in its sole discretion, establish a grantor trust, commonly known as a rabbi trust, as a vehicle for accumulating assets to pay
benefits under the Plan. Payments under the Plan may be paid from the general assets of the Participating Employer or from the assets of any such rabbi trust. Payment from any such source shall reduce the obligation owed to the Participant or
Beneficiary under the Plan. 

  

 Page 19 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 ARTICLE XII 
 Claims 
  

	12.1	Filing a Claim. Any controversy or claim arising out of or relating to the Plan shall be filed in writing with the Committee which shall make all determinations concerning
such claim. Any claim filed with the Committee and any decision by the Committee denying such claim shall be in writing and shall be delivered to the Participant or Beneficiary filing the claim (the “Claimant”). 


 

	 	(a)	In General. Notice of a denial of benefits will be provided within 90 days of the Committee’s receipt of the Claimant’s claim for benefits. If the Committee
determines that it needs additional time to review the claim, the Committee will provide the Claimant with a notice of the extension before the end of the initial 90-day period. The extension will not be more than 90 days from the end of the initial
90-day period and the notice of extension will explain the special circumstances that require the extension and the date by which the Committee expects to make a decision. 

  

	 	(b)	Contents of Notice. If a claim for benefits is completely or partially denied, notice of such denial shall be in writing and shall set forth the reasons for denial in plain
language. The notice shall: (i) cite the pertinent provisions of the Plan document, and (ii) explain, where appropriate, how the Claimant can perfect the claim, including a description of any additional material or information necessary to
complete the claim and why such material or information is necessary. The claim denial also shall include an explanation of the claims review procedures and the time limits applicable to such procedures, including a statement of the Claimant’s
right to bring a civil action under Section 502(a) of ERISA following an adverse decision on review. 

  

	12.2	Appeal of Denied Claims. A Claimant whose claim has been completely or partially denied shall be entitled to appeal the claim denial by filing a written appeal with a
committee designated to hear such appeals (the “Appeals Committee”). A Claimant who timely requests a review of the denied claim (or his or her authorized representative) may review, upon request and free of charge, copies of all
documents, records and other information relevant to the denial and may submit written comments, documents, records and other information relevant to the claim to the Appeals Committee. All written comments, documents, records, and other information
shall be considered “relevant” if the information: (i) was relied upon in making a benefits determination; (ii) was submitted, considered or generated in the course of making a benefits decision regardless of whether it was
relied upon to make the decision; or (iii) demonstrates compliance with administrative processes and safeguards established for making benefit decisions. The Appeals Committee may, in its sole discretion and if it deems appropriate or
necessary, decide to hold a hearing with respect to the claim appeal. 

  

	 	(a)	 In General. Appeal of a denied benefits claim must be filed in writing with the Appeals Committee no later than 60 days after receipt of the written
notification of such claim denial. The Appeals Committee shall make its decision regarding the merits of the denied claim within 60 days following receipt of the appeal (or within 120 days after such receipt, in a case 



  

 Page 20 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  


	 	 
where there are special circumstances requiring extension of time for reviewing the appealed claim). If an extension of time for reviewing the appeal is
required because of special circumstances, written notice of the extension shall be furnished to the Claimant prior to the commencement of the extension. The notice will indicate the special circumstances requiring the extension of time and the date
by which the Appeals Committee expects to render the determination on review. The review will take into account comments, documents, records and other information submitted by the Claimant relating to the claim without regard to whether such
information was submitted or considered in the initial benefit determination. 


  

	 	(b)	Contents of Notice. If a benefits claim is completely or partially denied on review, notice of such denial shall be in writing and shall set forth the reasons for denial in
plain language. 

 The decision on review shall set forth: (i) the specific reason or reasons for the denial;
(ii) specific references to the pertinent Plan provisions on which the denial is based; (iii) a statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records,
or other information relevant (as defined above) to the Claimant’s claim; and (iv) a statement describing any voluntary appeal procedures offered by the plan and a statement of the Claimant’s right to bring an action under
Section 502(a) of ERISA. 
  

	12.3	Claims Appeals Upon Change in Control. Upon a Change in Control, the Appeals Committee, as constituted immediately prior to such Change in Control, shall continue to act as
the Appeals Committee. Upon such Change in Control, the Company may not remove any member of the Appeals Committee, but may replace resigning members if 2/3rds of the members of the Board of Directors of the Company and a majority of Participants
and Beneficiaries with Account Balances consent to the replacement. 

 The Appeals Committee shall have the exclusive authority
at the appeals stage to interpret the terms of the Plan and resolve appeals under the Claims Procedure. 
 Each Participating Employer shall,
with respect to the Committee identified under this Section: (i) pay its proportionate share of all reasonable expenses and fees of the Appeals Committee; (ii) indemnify the Appeals Committee (including individual committee members)
against any costs, expenses and liabilities including, without limitation, attorneys’ fees and expenses arising in connection with the performance of the Appeals Committee hereunder, except with respect to matters resulting from the Appeals
Committee’s gross negligence or willful misconduct; and (iii) supply full and timely information to the Appeals Committee on all matters related to the Plan, any rabbi trust, Participants, Beneficiaries and Accounts as the Appeals
Committee may reasonably require. 
  

 Page 21 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  


	12.4	Legal Action. A Claimant may not bring any legal action, including commencement of any arbitration, relating to a claim for benefits under the Plan unless and until the
Claimant has followed the claims procedures under the Plan and exhausted his or her administrative remedies under such claims procedures. 

 If a Participant or Beneficiary prevails in a legal proceeding brought under the Plan to enforce the rights of such Participant or any other similarly situated Participant or Beneficiary, in whole or in part, the
Participating Employer shall reimburse such Participant or Beneficiary for all legal costs, expenses, attorneys’ fees and such other liabilities incurred as a result of such proceedings. If the legal proceeding is brought in connection with a
Change in Control, or a “change in control” as defined in a rabbi trust described in Section 11.2, the Participant or Beneficiary may file a claim directly with the trustee for reimbursement of such costs, expenses and fees. For
purposes of the preceding sentence, the amount of the claim shall be treated as if it were an addition to the Participant’s or Beneficiary’s Account Balance and will be included in determining the Participating Employer’s trust
funding obligation under Section 11.2. 
  

	12.5	Discretion of Appeals Committee. All interpretations, determinations and decisions of the Appeals Committee with respect to any claim shall be made in its sole discretion,
and shall be final and conclusive. 

  

	12.6	Arbitration. 

  

	 	(a)	Prior to Change in Control. If, prior to a Change in Control, any claim or controversy between a Participating Employer and a Participant or Beneficiary is not resolved
through the claims procedure set forth in Article XII, such claim shall be submitted to and resolved exclusively by expedited binding arbitration by a single arbitrator. Arbitration shall be conducted in accordance with the following procedures:


 The complaining party shall promptly send written notice to the other party identifying the matter in dispute and the
proposed remedy. Following the giving of such notice, the parties shall meet and attempt in good faith to resolve the matter. In the event the parties are unable to resolve the matter within 21 days, the parties shall meet and attempt in good faith
to select a single arbitrator acceptable to both parties. If a single arbitrator is not selected by mutual consent within ten Business Days following the giving of the written notice of dispute, an arbitrator shall be selected from a list of nine
persons each of whom shall be an attorney who is either engaged in the active practice of law or recognized arbitrator and who, in either event, is experienced in serving as an arbitrator in disputes between employers and employees, which list shall
be provided by the main office of either JAMS, the American Arbitration Association (“AAA”) or the Federal Mediation and Conciliation Service. If, within three Business Days of the parties’ receipt of such list, the parties are unable
to agree on an arbitrator from the list, then the parties shall each strike names alternatively from the list, with the first to strike being determined by the flip of a coin. After each party has had four strikes, the remaining name on the list
shall be the arbitrator. If such person is unable to serve for any reason, the parties shall repeat this process until an arbitrator is selected. 
  

 Page 22 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 Unless the parties agree otherwise, within 60 days of the selection of the arbitrator, a hearing
shall be conducted before such arbitrator at a time and a place agreed upon by the parties. In the event the parties are unable to agree upon the time or place of the arbitration, the time and place shall be designated by the arbitrator after
consultation with the parties. Within 30 days of the conclusion of the arbitration hearing, the arbitrator shall issue an award, accompanied by a written decision explaining the basis for the arbitrator’s award. 
 In any arbitration hereunder, the Participating Employer shall pay all administrative fees of the arbitration and all fees of the arbitrator, except that
the Participant or Beneficiary may, if he/she/it wishes, pay up to one-half of those amounts. Each party shall pay its own attorneys’ fees, costs, and expenses, unless the arbitrator orders otherwise. The prevailing party in such arbitration,
as determined by the arbitrator, and in any enforcement or other court proceedings, shall be entitled, to the extent permitted by law, to reimbursement from the other party for all of the prevailing party’s costs (including but not limited to
the arbitrator’s compensation), expenses, and attorneys’ fees. The arbitrator shall have no authority to add to or to modify this Plan, shall apply all applicable law, and shall have no lesser and no greater remedial authority than would a
court of law resolving the same claim or controversy. The arbitrator shall, upon an appropriate motion, dismiss any claim without an evidentiary hearing if the party bringing the motion establishes that it would be entitled to summary judgment if
the matter had been pursued in court litigation. 
 The parties shall be entitled to discovery as follows: Each party may take no more than
three depositions. The Participating Employer may depose the Participant or Beneficiary plus two other witnesses, and the Participant or Beneficiary may depose the Participating Employer, pursuant to Rule 30(b)(6) of the Federal Rules of Civil
Procedure, plus two other witnesses. Each party may make such reasonable document discovery requests as are allowed in the discretion of the arbitrator. 
 The decision of the arbitrator shall be final, binding, and non-appealable, and may be enforced as a final judgment in any court of competent jurisdiction. 
 This arbitration provision of the Plan shall extend to claims against any parent, subsidiary, or affiliate of each party, and, when acting within such
capacity, any officer, director, shareholder, Participant, Beneficiary, or agent of any party, or of any of the above, and shall apply as well to claims arising out of state and federal statutes and local ordinances as well as to claims arising
under the common law or under this Plan. 
  

 Page 23 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 Notwithstanding the foregoing, and unless otherwise agreed between the parties, either party may
apply to a court for provisional relief, including a temporary restraining order or preliminary injunction, on the ground that the arbitration award to which the applicant may be entitled may be rendered ineffectual without provisional relief.

 Any arbitration hereunder shall be conducted in accordance with the Federal Arbitration Act: provided, however, that, in the event of any
inconsistency between the rules and procedures of the Act and the terms of this Plan, the terms of this Plan shall prevail. 
 If any of the
provisions of this Section 12.6(a) are determined to be unlawful or otherwise unenforceable, in the whole part, such determination shall not affect the validity of the remainder of this section and this section shall be reformed to the extent
necessary to carry out its provisions to the greatest extent possible and to insure that the resolution of all conflicts between the parties, including those arising out of statutory claims, shall be resolved by neutral, binding arbitration. If a
court should find that the provisions of this Section 12.6(a) are not absolutely binding, then the parties intend any arbitration decision and award to be fully admissible in evidence in any subsequent action, given great weight by any finder
of fact and treated as determinative to the maximum extent permitted by law. 
 The parties do not agree to arbitrate any putative class
action or any other representative action. The parties agree to arbitrate only the claims(s) of a single Participant or Beneficiary. 
  

	 	(b)	Upon Change in Control. If, upon the occurrence of a Change in Control, any dispute, controversy or claim arises between a Participant or Beneficiary and the Participating
Employer out of or relating to or concerning the provisions of the Plan, such dispute, controversy or claim shall be finally settled by a court of competent jurisdiction which, notwithstanding any other provision of the Plan, shall apply a de novo
standard of review to any determination made by the Company or its Board of Directors, a Participating Employer, the Committee, or the Appeals Committee. 

 ARTICLE XIII 
 General Provisions 
  

	13.1	Assignment. No interest of any Participant, spouse or Beneficiary under this Plan and no benefit payable hereunder shall be assigned as security for a loan, and any such
purported assignment shall be null, void and of no effect, nor shall any such interest or any such benefit be subject in any manner, either voluntarily or involuntarily, to anticipation, sale, transfer, assignment or encumbrance by or through any
Participant, spouse or Beneficiary. Notwithstanding anything to the contrary herein, however, the Committee has the discretion to make payments to an alternate payee in accordance with the terms of a domestic relations order (as defined in Code
Section 414(p)(1)(B)). 

  

 Page 24 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 The Company may assign any or all of its liabilities under this Plan in connection with any
restructuring, recapitalization, sale of assets or other similar transactions affecting a Participating Employer without the consent of the Participant. 
  

	13.2	No Legal or Equitable Rights or Interest. No Participant or other person shall have any legal or equitable rights or interest in this Plan that are not expressly granted in
this Plan. Participation in this Plan does not give any person any right to be retained in the service of the Participating Employer. The right and power of a Participating Employer to dismiss or discharge an Employee is expressly reserved. The
Participating Employers make no representations or warranties as to the tax consequences to a Participant or a Participant’s beneficiaries resulting from a deferral of income pursuant to the Plan. 

  

	13.3	No Employment Contract. Nothing contained herein shall be construed to constitute a contract of employment between an Employee and a Participating Employer.


  

	13.4	Notice. Any notice or filing required or permitted to be delivered to the Committee under this Plan shall be delivered in writing, in person, or through such electronic means
as is established by the Committee. Notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark on the receipt for registration or certification. Written transmission shall be sent by
certified mail to: 

 THE PBSJ CORPORATION 
 ATTN: DIRECTOR OF HUMAN RESOURCES 
 5300 W. CYPRESS STREET, SUITE 200 
 TAMPA, FL 33607-1784 
 Any notice or
filing required or permitted to be given to a Participant under this Plan shall be sufficient if in writing or hand-delivered, or sent by mail to the last known address of the Participant. 
  

	13.5	Headings. The headings of Sections are included solely for convenience of reference, and if there is any conflict between such headings and the text of this Plan, the text
shall control. 

  

	13.6	Invalid or Unenforceable Provisions. If any provision of this Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect any other
provisions hereof and the Committee may elect in its sole discretion to construe such invalid or unenforceable provisions in a manner that conforms to applicable law or as if such provisions, to the extent invalid or unenforceable, had not been
included. 

  

	13.7	Lost Participants or Beneficiaries. Any Participant or Beneficiary who is entitled to a benefit from the Plan has the duty to keep the Committee advised of his or her current
mailing address. If benefit payments are returned to the Plan or are not presented for payment after a reasonable amount of time, the Committee shall presume that the payee is missing. The Committee, after making such efforts as in its discretion it
deems reasonable and appropriate to locate the payee, shall stop payment on any uncashed checks and may discontinue making future payments until contact with the payee is restored. 

  

 Page 25 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  


	13.8	Facility of Payment to a Minor. If a distribution is to be made to a minor, or to a person who is otherwise incompetent, then the Committee may, in its discretion, make such
distribution: (i) to the legal guardian, or if none, to a parent of a minor payee with whom the payee maintains his or her residence, or (ii) to the conservator or committee or, if none, to the person having custody of an incompetent
payee. Any such distribution shall fully discharge the Committee, the Company, and the Plan from further liability on account thereof. 

  

	13.9	Governing Law. To the extent not preempted by ERISA, the laws of the State of Florida shall govern the construction and administration of the Plan. 


IN WITNESS WHEREOF, the undersigned executed this Plan as of the 1st day of October, 2008, to be effective as of the Effective Date. 
  

					
	The PBSJ Corporation
			
	By:	 	 Donald J. Vrana
	 	(Print Name)
			
	Its:	 	 SVP & CFO
	 	(Title)
		
	 /s/ Donald J. Vrana
	 	(Signature)

  

 Page 26 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 SCHEDULE A 
 PARTICIPANTS CONVERTING SIP BALANCES 
 TO CASH SIP ACCOUNTS ON THE EFFECTIVE DATE 
  

							
		 	Austin, Stephen W.	 		 	Jackson, R. Keith
		 	Bierma, Michael R.	 		 	Larson, Randy L.
		 	Boatman, Larry A.	 		 	Morrell, Robert A.
		 	Bond, Clell L.	 		 	Nance, Darrell A.
		 	Brandvik, John R.	 		 	Overman, Wayne J.
		 	Brown, Martin H.	 		 	Patterson, Michael P.
		 	Bryan, Glen D.	 		 	Paulsen, Robert J.
		 	Buhler, Michael J.	 		 	Pellarin, Thomas D.
		 	Carter, David J.	 		 	Philips, Sharon M.
		 	Chao III, Alfonso	 		 	Pitcher, William P.
		 	Cortez, Reynaldo A.	 		 	Poteat, Victor P.
		 	Crumit, Max D.	 		 	Prime, Kermit L.
		 	Deans, David	 		 	Ramseur, Mark A.
		 	Dodson, Robert J.	 		 	Redding, Charles R.
		 	Ferguson, Craig A.	 		 	Rice, Harry G.
		 	Green, Cecilia R.	 		 	Schaffer, Becky S.
		 	Griffin, Charles A.	 		 	Simpson, Raymond E.
		 	Grosh, Elliott L.	 		 	Squillante, Judith A.
		 	Grubel, Richard M.	 		 	Terry, Larry V.
		 	Gupta, Avinash	 		 	Vogt, Donald R.
		 	Hale, Ronald D.	 		 	Wilson, Kenneth E.
		 	Hentz Jr., Lawrence H.	 		 	Zumwalt, John B.
		 	Huey, Donna M.	 		 	

  

 Page 27 of 28 









 The PBSJ Corporation Key Employee Capital Accumulation Plan 
  

 SCHEDULE B 
 VESTING SCHEDULE FOR CASH SIP ACCOUNTS 
 Except as provided below, Participants will continue to vest in their Cash
SIP Accounts according to the SIP vesting schedule as follows: 
  

			
	 Years of Service
	  	Vested Percentage
	 0
	  	0%
	 1
	  	10%
	 2
	  	20%
	 3
	  	30%
	 4
	  	40%
	 5
	  	50%
	 6
	  	60%
	 7
	  	70%
	 8
	  	80%
	 9
	  	90%
	 10
	  	100%

 A Year of Service is credited for every 365 days of employment with the Company or an Affiliate. Years of Service
credited to a Participant under the SIP are recognized under this Plan for purposes of determining a Participant’s vested percentage in his or her converted Cash SIP Account. 
 As provided in Section 5.2, the conversion balance credited to the Cash SIP Account of Participants who have not attained age 56 as of the Effective Date of September 30, 2008 is based on the vested portion
of the SIP benefit. Accordingly, the Cash SIP Accounts for such Participants are fully vested on the Effective Date and are not subject to further vesting under the above schedule. 
 Participants who are nearing retirement (those over age 56 and under age 65 on September 30, 2008) will have an opportunity to continue vesting in their converted SIP benefit after the Effective Date of
September 30, 2008. Accordingly, such Participants will continue to vest in their Cash SIP Accounts in accordance with the above schedule. 
 Participants who have attained age 65 as of the Effective Date of September 30, 2008 are considered to have reached normal retirement age and are therefore 100% vested in their Cash SIP Accounts. 
 In accordance with Section 5.3, the vested interest in the Cash SIP Account for all Participants will be 100% upon the Participant’s death, disability,
attainment of retirement age or a Change in Control while the Participant is actively employed by an Employer (the Company or an Affiliate). 
  

 Page 28 of 28