Document:

exv10w14

 

EXHIBIT 10.14

SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

     This Second Amendment to Employment Agreement (the “Amendment”) is entered into as of August
20, 2004, by and between Kent P. Ainsworth (the “Employee”) and URS Corporation, a Delaware
corporation (the “Company”), to amend the Employment Agreement entered into between the parties as
of September 8, 2000, as amended by the Amendment to Employment Agreement dated August 8, 2003 (the
“Employment Agreement”), as follows (capitalized terms in this Amendment are used as defined in the
Employment Agreement unless otherwise required by the context):

          1. The second sentence of Section 6(c) of the Employment Agreement is amended to read in
full as follows:

“Notwithstanding the preceding sentence, if either (i) at anytime during the period from
June 1, 2005 through August 27, 2005, the Employee voluntarily resigns his employment for
any reason, or (ii) at anytime during the period from August 27, 2003 through August 27,
2005, the Company terminates the Employee’s employment for any reason, then the Employee
shall be entitled to receive the Change in Control Payment and such Severance Benefits.”

          2. Except as so amended, the Employment Agreement remains in full force and effect.

     IN WITNESS WHEREOF, each party has executed this Amendment, in the case of the Company by its
duly authorized officer, as of the day and year first above written.

	 	 	 	 	 
	 	 	 
	 	/s/ Kent P. Ainsworth
	 
	 	

	 
	 	Kent P. Ainsworth 	 
	 
	 	URS Corporation,

A Delaware corporation

 	 
	 	By:  	/s/ Martin M. Koffel
	 
	 	 	

	 
	 
	 	Name: Martin M. Koffel	 
	 	Title:  Chairman and Chief Executive Officerexv10w17

 

EXHIBIT 10.17

SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

     This Second Amendment to Employment Agreement (the “Amendment”) is entered into as of August
20, 2004, by and between Joseph Masters (the “Employee”) and URS Corporation, a Delaware
corporation (the “Company”), to amend the Employment Agreement entered into between the parties as
of September 8, 2000, as amended by the Amendment to Employment Agreement dated August 11, 2003
(the “Employment Agreement”), as follows (capitalized terms in this Amendment are used as defined
in the Employment Agreement unless otherwise required by the context):

          1. The second sentence of Section 6(c) of the Employment Agreement is amended to read in
full as follows:

“Notwithstanding the preceding sentence, if either (i) at anytime during the period from
June 1, 2005 through August 27, 2005, the Employee voluntarily resigns his employment for
any reason, or (ii) at anytime during the period from August 27, 2003 through August 27,
2005, the Company terminates the Employee’s employment for any reason, then the Employee
shall be entitled to receive the Change in Control Payment and such Severance Benefits.”

          2. Except as so amended, the Employment Agreement remains in full force and effect.

     IN WITNESS WHEREOF, each party has executed this Amendment, in the case of the Company by its
duly authorized officer, as of the day and year first above written.

	 	 	 	 	 
	 	 	 
	 	   /s/ Joseph Masters
	 
	 	

	 
	 	Joseph Masters 	 
	 	 	 
	 	URS Corporation,

A Delaware corporation

 	 
	 	By:  	/s/ Martin M. Koffel
	 
	 	 	

	 
	 
	 	Name:  Martin M. Koffel	 
	 	Title:    Chairman and Chief Executive Officerexv10w39

 

EXHIBIT 10.36

URS Corporation

Restricted Stock Award

Grant Notice

(1999 Equity Incentive Plan)

URS Corporation (the “Company”), pursuant to its 1999 Incentive Equity Plan (the “Plan”),
hereby grants to Participant the right to receive the number of shares of the Company’s Common
Stock set forth below (“Award”). This Award is subject to all of the terms and conditions as set
forth herein and in the Restricted Stock Award Agreement and the Plan, each of which are attached
hereto and incorporated herein in their entirety.

	 	 	 
	Participant:

	 	                      
	Date of Grant:

	 	July 12, 2004
	Vesting Commencement Date:

	 	July 12, 2004
	Number of Shares Subject to Award:

	 	                      
	Participant’s Social Security Number:

	 	                      
	Fair Market Value Per Share:

	 	$                    

	 	 	 
	Vesting Schedule:

	 	25% of the shares vest on the first anniversary of the Vesting Commencement Date.
	

	 	25% of the shares vest on the second anniversary of the Vesting
Commencement Date.
	

	 	25% of the shares vest on the third anniversary of the Vesting
Commencement Date.
	

	 	25% of the shares vest on the fourth anniversary of the Vesting
Commencement Date.

Additional Terms/Acknowledgements: The undersigned Participant acknowledges receipt of, and
understands and agrees to, this Grant Notice, the Restricted Stock Award Agreement and the Plan.
Participant further acknowledges that this Grant Notice, the Restricted Stock Award Agreement and
the Plan set forth the entire understanding between Participant and the Company regarding the award
of Common Stock in the Company and supersede all prior oral and written agreements on that subject
with the exception of awards previously granted and delivered to Participant under the Plan.

	 	 	 	 	 	 	 
	URS Corporation	 	Optionholder:
	 
	 	 	 	 	 	 
	By:

	 	                                                            
	 	By:
	 	                                                            
	

	 	Kent P. Ainsworth
	 	 	 	[NAME]
	

	 	Executive Vice President and	 	 	 	 
	

	 	Chief Financial Officer	 	 	 	 
	Date:

	 	                                                            
	 	Date:
	 	                                                             

Attachments: Restricted Stock Award Agreement and 1999 Incentive Equity Plan

 

 

Attachment I

RESTRICTED STOCK AWARD AGREEMENT

 

 

URS Corporation

1999 Incentive Equity Plan

Restricted Stock Award Agreement for                                         

     Pursuant to the Restricted Stock Award Grant Notice (“Grant Notice”) and this Restricted Stock
Award Agreement (collectively, the “Award”) and in consideration of your past services, URS
Corporation (the “Company”) has awarded you a restricted stock award under its 1999 Incentive
Equity Plan (the “Plan”) for the number of shares of the Company’s Common Stock subject to the
Award indicated in the Grant Notice. Except where indicated otherwise, defined terms not
explicitly defined in this Restricted Stock Award Agreement but defined in the Plan shall have the
same definitions as in the Plan.

     The details of your Award are as follows:

     1. Vesting. Subject to the limitations contained herein, your Award shall vest as
provided in your Grant Notice, provided that vesting shall cease upon the termination of your
Continuous Service. Notwithstanding the foregoing, your Award shall become vested in its entirety
either (i) if, prior to the termination of your Continuous Service, a Change in Control (as defined
in the Employment Agreement, dated as of                     , between you and the Company, as it may be
amended from time to time (the “Employment Agreement”)) occurs, or (ii) in the circumstances
provided in Section 12(c) of the Plan. The shares subject to your Award will be held by the
Company until your interest in such shares vests. As each portion of your interest in the shares
vests, the Company shall issue you a stock certificate covering such vested shares.

     2. Number of Shares. The number of shares subject to your Award may be adjusted from
time to time for Capitalization Adjustments, as provided in the Plan.

     3. Payment. This Award was granted in consideration of your past services to the
Company and its Affiliates. You will not be required to make any payment to the Company with
respect to your receipt of the Award or the vesting thereof.

     4. Securities Law Compliance. You will not be issued any shares under your Award
unless the shares are either (a) then registered under the Securities Act or (b) the Company has
determined that such issuance would be exempt from the registration requirements of the Securities
Act. Your Award must also comply with other applicable laws and regulations governing the Award,
and you will not receive such shares if the Company determines that such receipt would not be in
material compliance with such laws and regulations.

     5. Transfer Restrictions. Prior to the time that they have vested, you may not
transfer, pledge, sell or otherwise dispose of the shares subject to the Award. For example, you
may not use shares subject to the Award that have not vested as security for a loan. In addition,
you may not transfer, pledge, sell or otherwise dispose of the shares subject to the Award that
have vested at any time when applicable securities laws or Company policies would prohibit such a
transfer. This restriction on the transfer of vested shares will lapse upon your termination of
Continuous Service. Notwithstanding the foregoing, you may, by delivering written notice to

1.

 

the Company, in a form satisfactory to the Company, designate a third party who, in the event
of your death, shall thereafter be entitled to receive vested shares as of the date of your death.

     6. Termination of Continuous Service.

          (a) Except as may be provided in your Employment Agreement (subject, however, to Section 1
hereof), in the event your Continuous Service terminates for reasons other than your death or
Disability (as that term is defined in your Employment Agreement), you will be credited with the
vesting that has accrued under your Award as of the date of your termination of Continuous Service.
Except as may be provided in your Employment Agreement (subject, however, to Section 1 hereof),
you will accrue no additional vesting of your Award following your termination of Continuous
Service. To the extent your Award is not vested on the date of your termination, it shall
automatically lapse on such date.

          (b) In the event your Continuous Service terminates due to your death, the Award automatically
shall become vested in full as of the date of your death and your rights under the Award shall pass
by will or the laws of descent and distribution; provided, however, that you may designate a
beneficiary to receive your vested shares as set forth in Section 5 hereof.

          (c) In the event your Continuous Service terminates due to your Disability (as that term is
defined in your Employment Agreement), the Award automatically shall become vested in full as of
the date of your termination of Continuous Service.

     7. Restrictive Legends. The shares issued under your Award shall be endorsed with
appropriate legends determined by the Company.

     8. Rights as a Stockholder. You shall exercise all rights and privileges of a
stockholder of the Company with respect to the shares subject to your Award. You shall be deemed
to be the holder of the shares for purposes of receiving any dividends which may be paid with
respect to such shares and for purposes of exercising any voting rights relating to such shares,
even if some or all of such shares have not yet vested.

     9. Award not a Service Contract. Your Award is not an employment or service
contract, and nothing in your Award shall be deemed to (i) alter the terms of your Employment
Agreement or (ii) create in any way whatsoever any obligation on your part to continue in the
employ of the Company or any Affiliate thereof, or on the part of the Company or any Affiliate
thereof to continue your employment or service. In addition, nothing in your Award shall obligate
the Company or any Affiliate thereof, their respective stockholders, boards of directors, officers
or employees to continue any relationship that you might have as a director or consultant for the
Company or any Affiliate thereof.

     10. Withholding Obligations.

          (a) At the time your Award is made, or at any time thereafter as requested by the Company, you
hereby authorize withholding from payroll and any other amounts payable to you, and otherwise agree
to make adequate provision for any sums required to satisfy the federal, state, local and foreign
tax withholding obligations of the Company or any Affiliate thereof, if

2.

 

any, which arise in connection with your Award. Such withholding obligations may be satisfied
by your relinquishment of your right to receive a portion of the shares otherwise issuable to you
pursuant to the Award; provided, however, that you shall not be authorized to relinquish your right
to shares with a fair market value in excess of the amount required to satisfy the minimum amount
of tax required to be withheld by law.

          (b) Unless the tax withholding obligations of the Company and/or any Affiliate thereof are
satisfied, the Company shall have no obligation to issue a certificate for such shares or release
such shares from any escrow provided for herein.

     11. Tax Consequences. The acquisition and vesting of the shares may have adverse
tax consequences to you that may be mitigated by filing an election under Section 83(b) of the
Code. Such election must be filed within thirty (30) days after the date of the grant of your
Award. YOU ACKNOWLEDGE THAT IT IS YOUR OWN RESPONSIBILITY, AND NOT THE COMPANY’S, TO FILE A TIMELY
ELECTION UNDER CODE SECTION 83(B), EVEN IF YOU REQUEST THE COMPANY TO MAKE THE FILING ON YOUR
BEHALF.

     12. Notices. Any notices provided for in your Award or the Plan shall be given in
writing and shall be deemed effectively given upon receipt or, in the case of notices delivered by
the Company to you, five (5) days after deposit in the United States mail, postage prepaid,
addressed to you at the last address you provided to the Company.

     13. Miscellaneous.

          (a)  The rights and obligations of the Company under your Award shall be
transferable to any one or more persons or entities, and all covenants and agreements hereunder
shall inure to the benefit of, and be enforceable by the Company’s successors and assigns. Your
rights and obligations under your Award may only be assigned with the prior written consent of the
Company.

          (b) You agree upon request to execute any further documents or instruments necessary or
desirable in the sole determination of the Company to carry out the purposes or intent of your
Award.

          (c) You acknowledge and agree that you have reviewed your Award in its entirety, have had an
opportunity to obtain the advice of counsel prior to executing and accepting your Award and fully
understand all provisions of your Award.

     14. Governing Plan Document. Your Award is subject to all the provisions of the
Plan, the provisions of which are hereby made a part of your Award, and is further subject to all
interpretations, amendments, rules and regulations which may from time to time be promulgated and
adopted pursuant to the Plan. In the event of any conflict between the provisions of your Award
and those of the Plan, the provisions of the Plan shall control.

3.

 

Attachment II

1999 INCENTIVE EQUITY PLAN

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