Document:

EX-10.8

 Exhibit 10.8 

PARSONS CORPORATION 

LONG TERM GROWTH PLAN 

Adopted April 16, 2012 

Amended January 1, 2015 

Amended October 17, 2016 

Amended January 1, 2019 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 Article 1. PREFACE
	  	 	1	 
			
	 Section 1.1
	  	Effective Date and Term	  			
	 Section 1.2
	  	Purpose of the Plan	  			
		
	 Article 2. DEFINITIONS
	  	 	1	 
		
	 Article 3. ELIGIBILITY AND DETERMINATION OF LONG TERM GROWTH OPPORTUNITY
TARGETS
	  	 	4	 
			
	 Section 3.1
	  	Authority of the Board	  			
	 Section 3.2
	  	Determination of Eligibility	  			
	 Section 3.3
	  	Determination of Performance Criteria	  			
	 Section 3.4
	  	Successive Long Term Growth Opportunity Targets	  			
	 Section 3.5
	  	Performance Goals	  			
		
	 Article 4. ADMINISTRATION
	  	 	6	 
			
	 Section 4.1
	  	Administrative Committee	  			
	 Section 4.2
	  	Authority	  			
	 Section 4.3
	  	Quorum	  			
		
	 Article 5. FUNDING, PAYMENT AND RIGHTS OF PARTICIPANTS
	  	 	7	 
			
	 Section 5.1
	  	Unfunded Plan	  			
	 Section 5.2
	  	Basis for Payment	  			
	 Section 5.3
	  	Payment of Long Term Growth Awards	  			
	 Section 5.4
	  	Deferral of Payment	  			
	 Section 5.5
	  	Modification of Performance Standards	  			
	 Section 5.6
	  	Limitation on Rights of Participants and Beneficiaries	  			
	 Section 5.7
	  	Forfeiture of Long Term Growth Opportunity	  			
		
	 Article 6. RETIREMENT, DISABILITY, DEATH BENEFITS AND BENEFICIARIES
	  	 	13	 
			
	 Section 6.1
	  	Termination After Completion of a Performance Cycle	  			
	 Section 6.2
	  	Termination Before Completion of a Performance Cycle.	  			
	 Section 6.3
	  	Beneficiary Designation	  			

  
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	 	  	 	  	Page	 
		
	 Article 7. CHANGE IN CONTROL
	  	 	15	 
			
	 Section 7.1
	  	Change in Control of the Corporation	  			
	 Section 7.2
	  	Awards Subject to Deferred Payment Election	  			
		
	 Article 8. AGREEMENT BY PARTICIPANT REGARDING TAXES
	  	 	16	 
		
	 Article 9. AMENDMENT AND TERMINATION OF THE PLAN
	  	 	16	 
		
	 Article 10. GENERAL PROVISIONS
	  	 	16	 
			
	 Section 10.1
	  	Written Instruments	  			
	 Section 10.2
	  	No Guarantee of Employment	  			
	 Section 10.3
	  	Liability of Corporation	  			
	 Section 10.4
	  	Liability of Board and Committee	  			
	 Section 10.5
	  	Assignment and Alienation	  			
	 Section 10.6
	  	Construction	  			
	 Section 10.7
	  	Severability and Survival of the Agreement	  			
	 Section 10.8
	  	Gender and Number	  			
	 Section 10.9
	  	Governing Law	  			
	 Section 10.10
	  	Code Section 409A	  			

  
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 PARSONS CORPORATION 

LONG TERM GROWTH PLAN 

Parsons Corporation, a Delaware corporation with its principal place of business in California, (the “Corporation”) hereby
establishes and sets forth the terms and conditions of the Parsons Corporation Long Term Growth Plan (the “Plan”) for the benefit of eligible employees of the Corporation on the terms and conditions described hereinafter: 

ARTICLE 1. 
 PREFACE 

Section 1.1    Effective Date and Term. The Plan shall be effective on the date the Plan was approved by the
Parsons Corporation Board of Directors, April 16, 2012, and shall continue in force and effect until terminated by the Board. 

Section 1.2    Purpose of the Plan. The Plan is intended to encourage participating key employees of the
Corporation to remain in its employ and to motivate such participants to exert maximum effort to achieve the Corporation’s goals. 

ARTICLE 2. 
 DEFINITIONS 

The words and phrases identified in quotation marks below, when used in the Plan and related documents, shall have the meanings set forth in
this Article 2, unless the context clearly indicates otherwise. 
 (a)    ”Administrative Committee” or
“Committee” means the committee responsible for performing the functions and administration of the Plan as provided herein. 

(b)    ”Beneficiary” means the person or estate of a deceased Participant, entitled to benefits
hereunder, upon the death of a Participant. 
 (c)    ”Board” means the Board of Directors of Parsons
Corporation. 
 (d)    ”Change in Control” means a change in the ownership or effective control of the
Corporation, or in the ownership of a substantial portion of the assets of the Corporation, within the meaning of Code Section 409A and the regulations promulgated thereunder. 

  
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 (e)    ”Code” means the Internal Revenue Code of 1986,
as amended, and any rulings or regulations thereunder. 
 (f)    ”Corporation” means Parsons
Corporation and any of its subsidiary companies of any tier. 
 (g)    ”Declared Rate” means with
respect to any Plan Year an annual rate of interest equal to the average of prime rates made available to preferred borrowers by Bank of America, N.T.& S.A., Los Angeles Branch (or any successor thereto) determined as of the first working day of
each calendar month prior to the complete distribution of a Deferral Account 
 (h)    ”Deferral
Account” means the account maintained on the books of account of the Corporation for a Participant’s Long Term Growth Awards deferred pursuant to Section 5.4. 

(i)    ”Deferral Agreement” means a written agreement entered into by the Corporation and a Participant
to defer a Long Term Growth Award pursuant to Section 5.4 for the Performance Cycle specified in the Deferral Agreement until the later of Participant’s termination of employment or the date specified under the Plan for payment in the
absence of a deferral election. A separate Deferral Agreement must be entered into by the Corporation and a Participant for each Performance Cycle for which the Participant elects to defer payment of such Performance Cycle’s Long Term Growth
Award. In the first Deferral Agreement that a Participant enters into under this Plan, the Participant may elect whether, upon a Change in Control, the Long Term Growth Awards deferred under Section 5.4 shall (i) accelerate and be paid in
accordance with Article 7 or (ii) be paid in accordance with the Participant’s deferral election pursuant to Section 5.4. If a Participant fails to make an election regarding the effect of a Change in Control in such Deferral
Agreement, the provisions of the Participant’s deferral election pursuant to Section 5.4 shall apply so that payments of all Long Term Growth Awards will not be accelerated as a result of a Change in Control. 

(j)    ”Disability” means a Participant (i) is unable to engage in any substantial gainful activity
by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by reason of any medically determinable
physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months under an accident and
health plan covering employees of the Corporation. 

  
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 (k)    ”Long Term Growth Opportunity Target” means the
target dollar value of the incentive which could potentially be earned by an eligible Participant in respect of a Performance Cycle. 

(l)    ”Long Term Growth Award” means the value of the Long Term Growth Opportunity Target earned by an
eligible Participant in respect of a completed Performance Cycle. 
 (m)    ”Participant” means each
senior officer, other key management or highly compensated employee of Parsons Corporation and its subsidiaries determined to be eligible to participate in the Plan. 

(n)    ”Performance Cycle” or “Cycle” means a fiscal year of the Corporation (or such
other period as may be designated for this purpose by the Administrative Committee) in respect of which a Long Term Growth Opportunity Target is defined for an eligible Participant and over which the established performance goals are measured for
the purpose of determining the amount of any Long Term Growth Award to be paid to each eligible Participant. Each Performance Cycle will be a period of at least twelve (12) consecutive months. 

(o)    ”Performance Cycle Memorandum” means the document prepared by the Committee, or its designee,
which shall, in the Committee’s discretion, specify the applicable conditions of each Performance Cycle such as, but not limited to, criteria upon which a Long Term Growth Award may potentially be earned. Each Performance Cycle Memorandum shall
become a part of and be incorporated into the Plan. For Performance Cycles beginning in 2013 and following years, the Performance Cycle Memorandum will be prepared at the beginning of and not later than ninety (90) days after the commencement
of the Performance Cycle. 
 (p)    ”Plan” means the Parsons Corporation Long Term Growth Plan as
herein set out and as it may be amended from time to time. 

  
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 (q)    ”Plan Account” means the balance posted to the
record of each Participant consisting of any Long Term Growth Award payments which have been paid or have been deferred pursuant to Article 5 of the Plan. 

(r)    ”Plan Year” means the calendar year beginning January 1st and ending December 31st. 

(s)    ”Retire” or “Retirement” means a Participant’s voluntary termination of
employment from the Corporation or its subsidiary after having attained age 64 
 (t)    Subaccount” means,
with respect to a Performance Cycle, the subaccount of the Participant’s Deferral Account maintained on the books of account of the Corporation for a Participant’s deferred Long Term Growth Award, if any, with respect to such Performance
Cycle. The sum of the balances of all a Participant’s Subaccounts shall equal the balance of the Participant’s Deferral Account 

(u)    ”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 Beneficiary, or a dependent (as defined in Code Section 152, without regard to Code Sections 152(b)(I), (b)(2), or (d)(l)(B)) of the Participant; 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); or other similar extraordinary and unforeseeable circumstances arising as a result of events
beyond the control of the Participant, as determined in accordance with Treasury Regulations Section l.409A-3(i)(3). The circumstances that will constitute an Unforeseeable Emergency will depend upon the facts
of each case. 
 ARTICLE 3. 

ELIGIBILITY AND DETERMINATION OF 

LONG TERM GROWTH OPPORTUNITY TARGETS 

Section 3.1    Authority of the Board. With respect to the Plan, the Board shall in its 

(a)    decide which employees will participate in the Plan, 

(b)    determine the Long Term Growth Opportunity Target for each eligible Participant and approve the amounts actually
earned as Long Term Growth Awards, 

  
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 (c)    determine the time or times at which Participants will be given
notice that a Long Term Growth Opportunity Target has been established for each of them, 
 (d)    determine the length
of the Performance Cycle with respect to such Long Term Growth Opportunity Targets, 
 (e)    add Participants to the
Plan during any given Performance Cycle, and 
 (f)    make all other determinations and take all other actions as may
be necessary, appropriate or advisable for the administration of the Plan, to the extent not delegated to the Administrative Committee pursuant to Article 4 or otherwise. 

The Board may delegate to the Committee the authority to determine any and all of the above listed items and any and all such determinations
as are delegated to the Committee are hereby ratified and approved by the Board. 
 Section 3.2    Determination
of Eligibility. In determining the persons for whom Long Term Growth Opportunity Targets shall be established, the Board shall receive advice from the Chief Executive Officer regarding the duties of the respective candidates, their present and
potential contributions to the success of the Corporation and such other facts as the Board shall deem relevant to the purpose of the Plan. 

Section 3.3    Determination of Performance Criteria. The Board shall approve the applicable performance
criteria and the measurement thereof, including the level or levels of performance, upon which the potential amount or amounts payable will be determined in respect of a Long Term Growth Opportunity Target, subject to adjustment in the Board’s
discretion at or after the date when a Long Term Growth Opportunity Target is established but prior to or at the completion of the Performance Cycle. The applicable performance criteria shall be established at a time when the outcome of the
applicable performance criteria is substantially uncertain, and for Performance Cycles beginning in 2013 and following years, such performance criteria shall be established not later than 90 days after the commencement of the Performance Cycle 

Section 3.4    Successive Long Term Growth Opportunity Targets. A Participant in any Performance Cycle may or
may not receive a Long Term Growth Opportunity Target for a 

  
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different cycle or cycles. Long Term Growth Opportunity Targets, performance goals and other criteria for payment of Long Term Growth Awards and other relevant provisions applicable to the Plan
in successive years shall be set out in the applicable Performance Cycle Memorandum. 

Section 3.5    Performance Goals. With respect to any Performance Cycle, the Board will establish the
Corporation’s performance goals applicable to such Performance Cycle either before or after the start of the Performance Cycle but not later than 90 days after the commencement of any Performance Cycle beginning in 2013 or following years. With
respect to any Performance Cycle, including Performance Cycles beginning in 2012, the applicable performance goals will be established at a time when the outcome of the applicable performance goals is substantially uncertain. Performance goals may
be expressed in terms of overall financial results of the Corporation on an absolute or relative basis, such as, but not limited to, its results in relation to a budgeted target or its results in relation to industry benchmarks, or such other
measurement as the Board may determine in its discretion. 
 ARTICLE 4. 

ADMINISTRATION 

Section 4.1    Administrative Committee. The Plan shall be administered under the supervision of the
Administrative Committee composed of not less than three (3) senior executives of the Corporation. Unless otherwise specified by the Board, the Committee will consist of persons who are selected from the following: Chief Executive Officer, any
Executive Vice President, Senior Vice President or Vice President of Parsons Corporation. The Board hereby delegates to the Chief Executive Officer, the discretionary authority to appoint and remove Committee members. The members of the
Administrative Committee shall be eligible to participate in the Plan. A member of the Committee shall not vote or act upon any matter which relates solely to himself as a Participant. 

Section 4.2    Authority. Subject to Section 3.1, the Committee shall have full and final authority to:
(i) operate, manage, interpret and administer the Plan on behalf of the Corporation; ii) prescribe, amend or rescind rules and regulations relating to the Plan; and (iii) do all things and take all actions respecting the Plan and its
administration which in their reasonable judgment are necessary and proper. All Committee interpretations, determinations and actions will be final, conclusive and binding on all parties. 

  
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 Section 4.3    Quorum. A majority of the Committee shall
constitute a quorum, and the acts of a majority of the members present at any meeting at which a quorum is present, or acts approved in writing by all the members in the absence of a meeting, shall be the acts of the Committee. 

ARTICLE 5. 
 FUNDING, PAYMENT
AND RIGHTS OF PARTICIPANTS 
 Section 5.1    Unfunded Plan. The Plan is an unfunded, nonqualified plan.
The benefits provided under the Plan shall be payable by the Corporation from its general assets. 

Section 5.2    Basis for Payment. The primary basis for determining the amount payable in respect of a Long
Term Growth Opportunity Target for a given Performance Cycle will be to compare actual performance of the Corporation at the conclusion of a Performance Cycle (based on performance criteria selected by the Board), with the target expected
performance goals established at the beginning of the Performance Cycle, as defined in the applicable Performance Cycle Memorandum. The Board may also adjust the amount so determined, either upward or downward, or determine that no amount is payable
in its complete and absolute discretion to take into account such other objective or subjective factors and criteria as it determines to be relevant to its determination of the amount payable to a Participant in respect of a Long Term Growth
Opportunity Target; provided that such adjustments shall be made prior to or at the completion of the Performance Cycle. 

Section 5.3    Payment of Long Term Growth Awards. The dates and conditions of payment are defined in each
Performance Cycle Memorandum. Long Term Growth Awards will be paid in the form of cash; provided, however, that for any Performance Cycle commencing on or after January 1, 2019, the Performance Awards may be paid in either cash or, in the sole
discretion of the Committee, shares of the Corporation’s common voting stock equal to the number of units into which the Participant’s Long Term Growth Award is converted into pursuant to the terms of the Performance Cycle Memorandum. 

  
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 Section 5.4    Deferral of Payment. 

5.4.1    Deferral Election Agreement 

(a)    A Participant may elect to defer payment of 0% or from 25% to 100% (the “Long Term Growth Award Deferral
Percentage”) of the Long Term Growth Award that may become payable for such Performance Cycle until the later of Participant’s termination of employment or the date specified under the Plan for payment in the absence of a deferral
election. Such election shall be made by entering into a Deferral Agreement within thirty (30) days after the Performance Cycle Memorandum for the Performance Cycle is approved, and in all events before the date that is six (6) months
before the end of the Performance Cycle. Except as provided in Section 5.4.l(c) below, deferral elections may only be made by Participants who have been continuously employed by or providing services to the Corporation from the date the
Performance Cycle Memorandum for the Performance Cycle is approved and the applicable performance criteria and goals are approved. A deferral election is not permitted for Performance Cycles which commence prior to 2013 or for any amounts awarded or
that become payable under the Plan that the Committee determines will not qualify as “performance based compensation” within the meaning of Code Section 409A. 

(b)    At the time of entering into a Deferral Agreement for a Performance Cycle, a Participant may elect that the form of
distribution of the deferred portion of the Long Term Growth Award for that Performance Cycle that becomes payable as a result of a termination of employment due to Retirement or Disability be a single payment, five substantially equal annual
installments, or ten substantially equal annual installments, subject to the limitation that, if the aggregate balance of the Subaccounts to which a five-year or ten-year installment election applies is less
than $75,000, the amounts subject to such election shall be paid in a lump sum payment. For the avoidance of doubt, any deferred portion of the Long Term Growth Award that becomes payable on the date specified under the Plan for payment in the
absence of a deferral election because such date occurs later than the Participant’s Retirement or Disability shall be paid on such date and shall not be paid in installments. 

(c)    A newly hired employee who becomes a Participant upon commencement of employment with the Corporation may make a
deferral election under this Section 5.4 for the 

  
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Performance Cycle during which the Participant’s employment commences by entering into a Deferral Agreement for such Performance Cycle within 30 days following the date the employee
commences employment with the Corporation. Any such election shall apply to that portion of the Long Term Growth Award earned during such Performance Cycle that is equal to the total amount of the Long Term Growth Award multiplied by the ratio of
the number of days remaining in the Performance Cycle after the Participant enters into the Deferral Agreement over the total number of days during the Performance Cycle. 

5.4.2    Deferral Accounts; Interest. 

(a)    The Committee shall establish and maintain a separate Deferral Account for each Participant who elects to defer a
Long Term Growth Award pursuant to this Section 5.4. The Committee shall further establish a separate Subaccount within each such Participant’s Deferral Account for such Participant’s Long Term Growth Award for each Performance Cycle
for which the Participant makes a deferral election pursuant to Section 5.4. For purposes of calculating interest that is credited to a Participant’s Deferral Account, in the event that a Performance Cycle Memorandum stipulates the payment
of a Long Term Growth Award in two or more installments, the amount of each tranche of a Participant’s Long Term Growth Award for a Performance Cycle shall be credited to the appropriate Subaccount as of the date such tranche would otherwise be
payable to such Participant. Each Subaccount of a Participant’s Deferral Account shall be reduced by the amount of any payments made by the Corporation to the Participant or the Participant’s Beneficiary pursuant to this Plan that relate
to Long Term Growth Awards allocated to such Subaccount. 
 (b)    Each Subaccount of a Participant’s Deferral
Account shall be deemed to bear interest, compounded annually, on the balance in such Subaccount at the Declared Rate from the date as of which such Subaccount is first credited with any portion of a deferred Long Term Growth Award through the date
such Subaccount is fully distributed. 
 5.4.3    Deferral Payments. 

(a)    Retirement. Amounts credited to a Participant’s Deferral Account pursuant to Section 5.4 that
become payable as a result of the Participant’s Retirement shall be paid, or 

  
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installments shall begin, within 60 days following the Participant’s Retirement. The Participant shall not have the right to designate the taxable year of such payment. In the case of
installment payments, the next installment shall be paid within 60 days following the end of the Plan Year during which the first installment is paid, and each subsequent installment shall be paid within 60 days following the end of each subsequent
Plan Year. 
 (b)    Disability. Amounts credited to a Participant’s Deferral Account pursuant to
Section 5.4 that become payable as a result of the Participant’s Disability while employed shall be paid, or installments shall begin, within 60 days following the Participant’s Disability. The Participant shall not have the right to
designate the taxable year of such payment. In the case of installment payments, the next installment shall be paid within 60 days following the end of the Plan Year during which the first installment is paid, and each subsequent installment shall
be paid within 60 days following the end of each subsequent Plan Year. 
 (c)    Death. Amounts credited to a
Participant’s Deferral Account pursuant to Section 5.4 shall be paid in single lump sum in the event a Participant dies while employed. Payment shall be made by the end of the calendar year in which the Participant dies. If a Participant
was receiving installment payments pursuant to this Section 5.4 at the time of the Participant’s death, all remaining installment payments shall be paid in a Jump sum in accordance with the previous sentence. 

(d)    Termination of Employment for a Reason Other than Retirement, Disability or Death. Amounts credited to a
Participant’s Deferral Account pursuant to Section 5.4 that become payable as a result of the Participant’s termination of employment other than by reason of Retirement, Disability, or death shall be paid in single Jump sum. Payment
shall be made within 60 days following the date the Participant’s employment terminates. The Participant shall not have the right to designate the taxable year of such payment. 

(e)    Termination of Employment Prior to Payment Date Specified in the Plan. If a Participant terminates
employment with the Corporation for any reason prior to the date specified under the Plan for payment in the absence of a deferral election, that portion of the Long Term Growth Award shall be forfeited or paid on the fixed payment date specified in
accordance with the terms of the Plan as if the Participant had made no deferral election with respect to such portion of the Long Term Growth Award. 

  
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	 	5.4.4	 Unforeseeable Emergency. If a Participant experiences an Unforeseeable Emergency prior to the time his
Deferral Account has been fully distributed, the Committee may, in its sole discretion, permit the distribution to Participant of all or a portion of the Deferral Account. Such distribution for an Unforeseeable Emergency shall be subject to approval
by the Committee and may be made only to the extent reasonably necessary to satisfy the emergency need (which may include amounts necessary to pay any federal, state, local, or foreign income taxes or penalties reasonably anticipated to result from
the distribution). The Committee may treat a distribution as necessary to satisfy the hardship if it relies on the Participant’s written representation, unless the Committee has actual knowledge to the contrary, that the hardship cannot
reasonably be relieved (1) through reimbursement or compensation by insurance or otherwise, (2) by liquidation of the Participant’s assets, to the extent the liquidation of such assets would not itself cause severe financial hardship,
or (3) or by cessation of deferrals under this Plan. The burden of substantiating and demonstrating an Unforeseeable Emergency shall be borne by the Participant. Distributions in the event of an Unforeseeable Emergency shall be made
proportionately from all of a Participant’s Subaccounts. 

 5.4.5    Potential Six-Month Delay. Notwithstanding anything in the Plan to the contrary, any payment under this Plan that the Corporation reasonably determines is subject to Code Section 409A(a)(2)(b)(i) shall not be paid or
payment commenced until the later of (i) six months after the date of the Participant’s termination of employment or the Participant’s death and (ii) the payment date or commencement date specified in this Plan for such
payment(s). On the earliest date on which such payment can be made or commenced without violating the requirements of Code Section 409A(a)(2)(b)(i), the Participant shall be paid, in a single cash lump sum, an amount equal to the aggregate
amount of all payments delayed pursuant to the preceding sentence. 

  
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 Section 5.5    Modification of Performance Standards. If,
prior to completion of a Performance Cycle, the Board determines, in its absolute and complete discretion, that the established performance measures or objectives are no longer applicable due to a change in the Corporation’s business,
operations, corporate structure, capital structure including, but not limited to, a merger, acquisition, divestiture, stock splits, issuance of new shares, additional shares or different classes of shares, warrants or the like, or other conditions
the Board deems to be material, the Board may modify the performance measures and standards in a manner that it considers to be appropriate and equitable. 

Section 5.6    Limitation on Rights of Participants and Beneficiaries. No Participant or Beneficiary shall
have any preferred claim on, or any beneficial ownership interest in, any asset of the Corporation before the time that any such asset is paid to a Participant or Beneficiary. The right of a Participant or Beneficiary to receive a benefit hereunder
shall be the claim of a general, unsecured creditor of the Corporation, and the Plan constitutes a mere promise by the Corporation to pay benefits in the future. Distribution to a Participant or Beneficiary in good faith of any unpaid portion of
Long Term Growth Awards earned by Participant shall be considered a full and complete discharge of the Corporation’s obligation under the Plan. 

Section 5.7    Forfeiture of Long Term Growth Opportunity. Unless otherwise provided in a Performance Cycle
Memorandum, if a Participant’s employment with the Corporation terminates during or after a Performance Cycle for any reason other than death, Disability, or Retirement, all outstanding Long Term Growth Opportunity Targets related to any
completed or uncompleted Performance Cycle shall thereupon be forfeited by the Participant and Participant shall have no further right or interest in any Long Term Growth Award or payment thereunder; provided, however, that in the case of special
circumstances as determined by the Committee, the Committee may, in its sole discretion, for vesting purposes deem that the Participant’s termination of employment was due to Retirement and subject to the provisions of Section 6.2. 

  
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 ARTICLE 6. 

RETIREMENT, DISABILITY, DEATH BENEFITS AND BENEFICIARIES 

Section 6.1    Termination After Completion of a Performance Cycle. If a Participant Retires from the service
of the Corporation, or if the Participant’s employment terminates by reason of death or Disability, in either case after completion of a Performance Cycle, all Long Term Growth Awards earned by a Participant that have not yet been paid to a
Participant, will be payable as set forth in Section 5.3 and the applicable Performance Cycle Memorandum as though the Participant’s employment had not terminated. If the Participant has executed a Deferral Agreement pursuant to
Section 5.4, the provisions of Section 5.4 and such Agreement shall govern the time and method of payment. 

Section 6.2    Termination Before Completion of a Performance Cycle. If a Participant Retires from service of
the Corporation, or if the Participant’s employment terminates by reason of death or Disability, in either case prior to the completion of an applicable Performance Cycle, except as provided below in this Section 6.2, the amount of any
Long Term Growth Opportunity Target for that Performance Cycle shall be prorated by the number of full months that the Participant actually worked as a full-time or part-time regular employee during the applicable Performance Cycle. The value of
such prorated Long Term Growth Opportunity Target will be determined and be payable in the same manner and time as set forth in Section 5.3 and the applicable Performance Cycle Memorandum. If the Participant has entered into a Deferral
Agreement pursuant to Section 5.4, the provisions of Section 5.4 and such Agreement shall govern the time and method of payment. Beginning with the 2015 Plan Year and for Performance Cycles commencing on or after the start of the 2015 Plan
Year, the Committee may, in its sole discretion, permit a Participant who Retires from service of the Corporation to receive the full value of such Participant’s Long Term Growth Opportunity Target for any one or more in-progress Performance Cycles as determined in the same manner and time as set forth in Section 5.3 and the applicable Performance Cycle Memorandum (i.e., the Participant’s Long Term Growth
Opportunity Target would not be prorated and the full amount of the original award would be eligible to become payable, subject to Section 5.3). If the Committee decides to exercise such discretion with respect to any Participant who Retires
from the Corporation, the value of any additional portion of any Long Term Growth Opportunity Target becoming payable pursuant to 

  
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Section 5.3 and the applicable Performance Cycle Memorandum as a result of the Committee’s exercise of its discretion shall be paid to the Participant at the times specified in
Section 5.3 and the applicable Performance Cycle Memorandum, subject to the provisions of Section 5.4 if a Deferral Agreement has been entered into. 

Section 6.3    Beneficiary Designation. At any time prior to the complete payment of the Long Term Growth
Awards due to a Participant under the Plan, he or she shall have the right to designate, change, and/or cancel, any person(s) or entity as his or her Beneficiary (either primary or contingent) to whom payment under this Plan shall be made in the
event of his or her death. Each beneficiary designation shall become effective only when filed in writing with the Company during the Participant’s lifetime on a form provided by the Company. The filing of a new beneficiary designation form
will cancel all previously filed beneficiary designations relating to such Participant. Any finalized divorce of a Participant subsequent to the date of filing of a designation of the Participant’s former spouse as a Beneficiary shall
automatically revoke such designation. 
 Additionally, the spouse of a Participant domiciled in a community property jurisdiction shall
consent to the Participant’s designation of any Beneficiary other than such spouse in the form approved by the Corporation, which consent shall be notarized. 

If a Participant fails to designate a Beneficiary as provided above, or if his or her beneficiary designation is revoked without execution of
a new designation, or if all designated Beneficiaries predecease the Participant, then the distribution of such benefits shall be made to the Participant’s estate in a lump sum. If the Participant’s designated Beneficiary survives the
Participant but dies before receiving all remaining, unpaid, Long Term Growth Awards earned by Participant, the unpaid Award amounts shall be paid to the estate of such Beneficiary in a lump sum. 

  
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 ARTICLE 7. 

CHANGE IN CONTROL 

Section 7.1    Change in Control of the Corporation. Upon a Change in Control of the Corporation: 

(a)    Long Term Growth Awards earned for completed Performance Cycles but not yet fully paid shall, except as provided in
Section 7.2 for Participants who have entered into Deferral Agreements pursuant to Section 5.4, be paid to those Participants and beneficiaries who remained eligible for such payment at the time of such Change in Control, and in no event
shall such payments be delayed beyond 30 days following such Change in Control. 
 (b)    Long Term Growth Opportunity
Targets established for Participants for any uncompleted Performance Cycle shall be pro-rated based on the number of months, including any partial month, that have elapsed since the beginning of the
Performance Cycle(s). If cumulative progress against performance metrics for the Performance Cycle has been formally reported to Participants at any time during the Performance Cycle, the Board may consider performance progress reports preceding the
Change in Control, or any other available metric or judgment, in determining the amount of funding to authorize for a Long Term Growth Award pool for an uncompleted Performance Cycle. The Board may also, in its sole discretion, and without respect
to performance criteria of the Performance Cycle Memorandum, assign an award percentage to pro-rated Long Term Growth Opportunity Targets in an uncompleted Performance Cycle. If the Board authorizes payment of
Long Term Growth Awards for uncompleted Performance Cycles which have been terminated due to a Change in Control, such Long Term Growth Award amounts shall, except as provided in Section 7.2 for Participants who have entered into Deferral
Agreements pursuant to Section 5.4, be paid to remaining eligible Participants or eligible beneficiaries no later than 30 days following such Change in Control. 

(c)    Any determination to be made by the Board under this Article 7 shall be made by the Board prior to the date of the
Change in Control, and such determination shall apply (and be binding upon the Corporation) for all purposes of the Plan and any agreements entered into or adopted under the Plan. 

Section 7.2    Awards Subject to Deferred Payment Election. A current or former Participant with unpaid Long
Term Growth Awards that are subject to deferred payment elections under Section 5.4 may elect, in the first Deferral Agreement entered into under this Plan, that, in the event of a Change of Control, such deferred amounts shall be paid upon the
Change in Control or as soon as practicable thereafter, but in no event more than thirty (30) days following 

  
 15 

 
the Change in Control. In the event that a current or former Participant elected to not accelerate distribution of the Deferral Account upon a Change in Control, amounts otherwise payable to that
Participant pursuant to Section 7.1 shall be credited to the Participant’s Deferral Account within 30 days following the Change in Control and the provisions of Section 5.4 and the Participant’s Deferral Agreement shall govern
the time and method of payment. 
 ARTICLE 8. 

AGREEMENT BY PARTICIPANT REGARDING TAXES 

To the extent required by law, the Company shall withhold from payments made hereunder an amount equal to at least the minimum taxes required
to be withheld by the federal and any state or local government. 
 ARTICLE 9. 

AMENDMENT AND TERMINATION OF THE PLAN 

The Board at any time and from time to time may suspend, terminate, modify, or amend the Plan. Except as otherwise provided, no suspension,
termination, modification, or amendment of the Plan may adversely affect any Long Term Growth Award previously earned unless the written consent of the Participant is obtained. 

ARTICLE 10. 
 GENERAL PROVISIONS

 Section 10.1    Written Instruments. All Long Term Growth Opportunity Targets shall be evidenced by an
instrument in such form as the Committee shall prescribe from time to time in accordance with the terms of the Plan (and with other such terms and conditions not inconsistent with the terms of this Plan as the Committee, in its sole and absolute
discretion, shall establish). 
 Section 10.2    No Guarantee of Employment. Nothing in this plan shall be
construed as guaranteeing future employment to a Participant and no agreement of employment is created hereunder. Unless otherwise provided in a separate agreement, a Participant shall continue to be a common law employee of the Corporation solely
at the will of the Corporation or a subsidiary thereof. 

  
 16 

 Section 10.3    Liability of Corporation. Nothing in the
Plan shall constitute the creation of a trust or other fiduciary relationship between the Corporation and any Participant, Beneficiary or other person. The Corporation shall not be considered a trustee by reason of the Plan. 

Section 10.4    Liability of Board and Committee. No member of the Board or of the Committee will be
personally liable for any action taken or determination made in good faith with respect to the Plan, its interpretation, management or administration or any Long Term Growth Opportunity Target granted hereunder. 

Section 10.5    Assignment and Alienation. No rights under the Plan may be anticipated, assigned, transferred,
alienated, pledged, sold, attached, garnished or encumbered by a Participant or Beneficiary. 

Section 10.6    Construction. The section and subsection heading are contained herein for convenience only and
shall not affect the construction hereof. 
 Section 10.7    Severability and Survival of the Agreement. If
any provision hereof is invalid or unenforceable in any jurisdiction, the other provisions hereof shall remain in full force and effect and the remaining provisions hereof shall be liberally construed in order to carry out the provision hereof and
the invalidity or unenforceability of such provision in any jurisdiction shall not affect the validity or enforceability of any such provision in any other jurisdiction. 

Section 10.8    Gender and Number. The masculine gender shall be deemed to include the feminine, the feminine
gender shall be deemed to include the masculine, and the singular shall include the plural unless otherwise clearly required by the context. 

Section 10.9    Governing Law. This Plan shall be regulated, construed and administered under the laws of the
State of California to the extent that such laws are not preempted by the laws of the United States of America. 

Section 10.10    Code Section 409A. It is intended that any amounts payable under this Plan
shall either be exempt from Code Section 409A or shall comply with Code Section 409A (including Treasury Regulations and other published guidance related thereto) so as not to subject 

  
 17 

 
Participants to payment of any additional tax, penalty, or interest imposed under Code Section 409A. The provisions of this Plan shall be construed and interpreted to avoid the imputation of
any such additional tax, penalty, or interest under Code Section 409A yet preserve (to the nearest extent reasonably possible) the intended benefits payable to Participants. For purposes of this Plan, all references to a Participant’s
termination of employment with the Corporation shall mean a ‘separation from service’ as defined in Code Section 409A and Treasury Regulations Section 1.409A-l(h) without regard to the
optional alternative definitions available thereunder. 

  
 18EX-10.9

 Exhibit 10.9 

PARSONS CORPORATION 
 SHARE VALUE
RETIREMENT PLAN 
 FOR 
 OUTSIDE
DIRECTORS 
 Originally Effective June 1, 2001 

Amended and Restated Effective February 1, 2011 

Further Amended Effective January 1, 2015 

 PARSONS CORPORATION 

SHARE VALUE RETIREMENT PLAN FOR OUTSIDE DIRECTORS 

Parsons Corporation, a Delaware corporation with its principal place of business in California, hereby establishes the Parsons Corporation
Share Value Retirement Plan for Outside Directors on the terms and conditions described hereinafter: 
 This Plan has been established to
provide retirement income for eligible Outside Directors. 
 ARTICLE I 

PREFACE 

Section 1.1 Effective Date. The effective date of the Plan is June 1, 2001. The Plan is amended and
restated effective February 1, 2011, and further amended effective January 1, 2015. 
 Section 1.2
Purpose of the Plan. The Plan is intended to provide retirement income for eligible Outside Directors. 
 ARTICLE II 

DEFINITIONS 
 As used in
this Plan, the following terms shall have the meanings set forth below: 
 Section 2.1 “BOARD” shall mean
the Board of Directors of Parsons Corporation. 
 Section 2.2 “BENEFICIARY” shall mean the person
designated by an Outside Director on the form prescribed by the Committee to receive any survivor benefit payable under the Plan. The designation of a beneficiary other than a Participant’s surviving spouse shall require spousal consent
thereto. Any finalized divorce of a Participant subsequent to the date of filing of a designation of the Participant’s former spouse as a Beneficiary shall automatically revoke such designation. In the absence of an effective designation, or if
no named beneficiary shall survive the Outside Director, the beneficiary shall be the Outside Director’s Spouse, if surviving, or if there is no surviving Spouse, the Outside Director’s issue, per stirpes, or if there are no
surviving issue, the Outside Director’s estate. 
 Section 2.3 “CHANGE IN CONTROL” shall mean a
change in the ownership or effective control of the Corporation, or in the ownership of a substantial portion of the assets of the Corporation, within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (“CODE
SECTION 409A”), and the regulations promulgated thereunder. 
 Section 2.4 “COMMITTEE” shall mean
the Policy Committee which shall administer the Plan as provided for herein and whose members shall be appointed and removed at the sole discretion of the Chief Executive Officer. The Committee will consist of the Chief Executive Officer, the Chief
Financial Officer, the General Counsel, and the Vice President of Human Resources, or any three of these officers as the Chief Executive Officer shall appoint. 

  
 1 

 Section 2.5 “CORPORATION” shall mean the Parsons
Corporation and any person, firm or corporation which may hereafter succeed to the interest of Parsons Corporation by merger, consolidation or otherwise. 

Section 2.6 “DISABILITY” shall mean, with respect to any Outside Director, an illness or other
incapacitation which the Board or Committee determines is not a Section 409A Disability, but precludes such Outside Director from fully discharging his/her responsibilities as a member of the Board. “SECTION 409A DISABILITY” shall
mean, with respect to any Outside Director, a disability as defined in Treasury Regulation Section 1.409A-3(i)(4)(i). 

Section 2.7 “DISABILITY TERMINATION BENEFIT ENTITLEMENT DATE” shall mean the date determined in
Section 5.4. “SECTION 409A DISABILITY BENEFIT ENTITLEMENT DATE” shall mean the date determined in Section 5.5. 

Section 2.8 “EARLY BENEFIT ENTITLEMENT DATE” shall mean the date determined in Section 5.3. 

Section 2.9 “EMPLOYEE DIRECTOR” shall mean a member of the Board who is also an employee or officer of the
Corporation or one of its subsidiaries. 
 Section 2.10 “NORMAL BENEFIT ENTITLEMENT DATE” shall mean the
date determined in Section 5.2. 
 Section 2.11 “OUTSIDE DIRECTOR” shall mean a member of the Board
who is not currently an officer or employee of the Corporation or any of its subsidiaries. 
 Section 2.12
“OUTSIDE DIRECTORS’ RETIREMENT PLAN” shall mean Parsons Corporation Retirement Plan for Outside Directors as restated effective May 20, 1997, which was terminated as to any new Participants and succeeded by this Plan effective
June 1, 2001. 
 Section 2.13 “PARTICIPANT” shall mean an Outside Director eligible for
participation in the Plan, who has not ceased to be a Participant, as described in Article III. 
 Section 2.14
“PLAN” shall mean the Parsons Corporation Share Value Retirement Plan for Outside Directors as it may be amended from time to time. 

Section 2.15 “RETIREMENT ACCOUNT” shall mean the total number of Retirement Units posted to the record of
each Outside Director (as maintained by the Corporation) prior to an Outside Director’s retirement (as defined in Article V), and upon an Outside Director’s retirement, and thereafter, the dollar value of the Retirement Units as determined
in the manner defined in Section 4.3. 
 Section 2.16 “RETIREMENT UNITS” shall mean the units
referred to in Section 4.1 that are credited to an Outside Director’s Account for each month of service to the Corporation as an Outside Director and the aggregate number of such units in a Participant’s Retirement Account at the time
of entitlement to benefits as referred to at Article V. 

  
 2 

 Section 2.17 “SHARE VALUE” shall mean the dollar value
of the Corporation’s shares of common stock, as established at the most recent valuation thereof by the Corporation’s independent share appraisal and valuation firm, adjusted to the extent, if any, that the Board in good faith deems
appropriate to take into account events affecting the value of the Corporation’s shares of common stock since the most recent valuation and/or the consideration received by the Corporation’s stockholders in connection with a Change in
Control 
 Section 2.18 “SPOUSE” shall mean the person to whom the Participant was legally married for
at least 31 days immediately preceding the Participant’s death. 
 Section 2.19 “VALUATION DATE”
shall mean an Outside Director’s benefit entitlement date, as defined in Article V and as may be applicable to an Outside Director. 

ARTICLE III 
 PARTICIPATION

 Section 3.1 Eligibility. Each Outside Director shall become a Participant in the Plan on the first
day of the month (i) in which he/she is first elected or appointed to membership on the Board or, (ii) if his/her service on the Board commences while he/she is employed by the Corporation or an affiliate or subsidiary thereof, on the
first day of the month in which his/her retirement or resignation from the Corporation or its affiliate or subsidiary occurs. An Outside Director who leaves the service of the Board on or after February 1, 2011, shall be entitled to receive a
benefit under this Plan. An outside Director who left the service of the Board prior to February 1, 2011 and ceased to be a Participant for any reason other than death or Disability prior to attaining seventy (70) years of age shall be
entitled to receive a benefit under the Plan only if he/she has completed at least seventy-two (72) months of service, whether or not consecutive, as an Outside Director and, if applicable, as an Employee
Director. 
 Section 3.2 Duration. An Outside Director who becomes a Participant shall continue as a
Participant until his/her service on the Board terminates for any reason and after termination until such time as all benefits to which he/she is entitled to hereunder are exhausted. 

ARTICLE IV 
 RETIREMENT UNITS

 Section 4.1 Monthly Unit Credits. Effective January 1, 2015, the Board will establish a target
dollar value for the monthly Retirement Unit grant which will be reviewed periodically and changed if approved by the Compensation Committee and the Board. The Corporation shall credit Retirement Units to each Outside Director’s Retirement
Account each month, or portion of a month, that the Participant serves as an Outside Director of the Board. The number of Retirement Units credited per month will be determined by dividing the monthly target dollar value by the Share Value. 

For the period up to and including December 2014, the Corporation shall credit each participating Outside Director’s Retirement Account with one hundred
twenty Retirement Units for each month, or portion of a month, that the Participant serves as an Outside Director of the Board. 

  
 3 

 Section 4.2 Valuation Date. The value of an Outside
Director’s Retirement Units shall be determined on the Outside Director’s Valuation Date, which will be one of the following: a Normal Benefit Entitlement Date; Early Benefit Entitlement Date; or Disability Benefit Retirement Date or
Section 409A Disability Benefit Entitlement Date; or death, as each is referred to in Article V. 

Section 4.3 Valuing Units. The value of the Outside Director’s Retirement Account shall be calculated on
the Valuation Date by multiplying the total number of Retirement Units in the Outside Director’s Retirement Account times the Share Value. 

ARTICLE V 
 ENTITLEMENT TO
BENEFITS 
 Section 5.1 Benefit Entitlement. A Participant shall be entitled to receive the benefits
provided under the Plan at his/her applicable benefit entitlement date as determined in Section 5.2 or 5.3, 5.4 or 5.5, or upon a Participant’s death, which benefits shall be paid at the times and in the form described in Article VI. 

Section 5.2 Normal Benefit Entitlement Date. A Participant’s Normal Benefit Entitlement Date shall be
the first day of the month following the date upon which a Participant who has attained age seventy (70) terminates service as a member of the Board. 

Section 5.3 Early Benefit Entitlement Date. A Participant’s Early Benefit Entitlement Date shall be the
first day of the month following the date upon which a Participant terminates as a member of the Board, regardless of the Participant’s age. 

Section 5.4 Disability Termination Benefit Entitlement Date. A Participant’s Disability Termination
Benefit Entitlement Date shall be the first day of the month following the date the Participant has a termination of service due to Disability. 

Section 5.5 Section 409A Disability Benefit Entitlement Date. A Participant’s Section 409A
Disability Benefit Entitlement Date shall be the first day of the month following the date upon which the Board or Committee determines that a Participant has suffered a Section 409A Disability. 

ARTICLE VI 
 BENEFIT AMOUNT AND
PAYMENT 
 Section 6.1 Amount of Benefit. The total amount of the benefit payable to an Outside
Director pursuant to the Plan shall be the aggregate value of the Outside Director’s Retirement Account as calculated pursuant to Section 4.3 on the date an Outside Director becomes entitled to benefits under the Plan. 

  
 4 

 Section 6.2 Payment and Amount. 

(a) Payment Pursuant to Normal, Early or Disability Termination Benefit Entitlement Date. Effective for Participants who terminate
service as a member of the Board on or after January 1, 2008, the normal form of benefit payable to a Participant who becomes entitled to a benefit pursuant to a Normal, Early or Disability Termination Benefit Entitlement Date shall be the
value of the Participant’s Retirement Account in a non-discounted lump sum in the amount described in Section 6.1. Such lump sum payment shall be made to a Participant who becomes entitled to
benefits pursuant to a Normal Benefit Entitlement Date on the Normal Benefit Entitlement Date or as soon thereafter is administratively convenient, but in no event more than sixty (60) days following such date. In the case of a Participant
entitled to receive benefits pursuant to an Early Benefit Entitlement Date or a Disability Termination Benefit Entitlement Date, the lump sum payment shall be made on the first day of the month following the day on which the Participant attains age
sixty-five (65) or, if his/her Early Benefit Entitlement Date or Disability Termination Benefit Entitlement Date occurs after he/she has attained age sixty-five (65), on the Participant’s Early Benefit Entitlement Date or Disability
Termination Benefit Entitlement Date, whichever is applicable, or as soon thereafter as is administratively convenient, but in no event more than sixty (60) days following such date. 

Notwithstanding the foregoing, in the event that a Participant’s Early Benefit Entitlement Date or Disability Termination Benefit
Entitlement Date occurs prior to the Participant’s sixty-fifth (65th) birthday, the amount otherwise payable to the Participant shall be increased by crediting interest to such amount on a monthly basis at a rate equal to Bank of America’s
prime rate as of the January 1 of the calendar year in which the applicable month of crediting occurs from the Participant’s Early Benefit Entitlement Date or Disability Termination Benefit Entitlement Date, whichever is applicable, to the
date of payment under this Section 6.2(a). 
 (b) Payment upon Death or a Section 409A Disability Benefit
Entitlement Date. If a Participant dies while serving as a member of the Board or after termination of service but prior to payment pursuant to Section 6.2(a) or commencement of payments pursuant to Section 6.3(c), the
Participant’s benefits shall be paid to his or her beneficiary in a non-discounted lump sum no later than the later of (i) ninety (90) days following the Participant’s death or (ii) the end
of the calendar year in which the Participant’s death occurs. If a Participant incurs a Section 409A Disability, the Participant’s benefits shall be paid to the Participant in a non-discounted
lump sum on the Participant’s Section 409A Disability Benefit Entitlement Date or as soon thereafter as is administratively convenient, but in no event more than sixty (60) days following such date. 

Section 6.3 Alternative Form of Payment upon Normal, Early or Disability Termination Benefit Entitlement
Date. 
 (a) Participants Eligible for Alternative Form of Payment. 

(i) Benefits First Payable Prior to January 1, 2008. If a Participant becomes entitled to distribution of his/her
Retirement Account pursuant to a Normal, Early or Disability Termination Benefit Entitlement Date that occurs before January 1, 2008, the distributions shall be in monthly installments as described in this Section 6.3. 

(ii) Participants Becoming Directors on or after January 1, 2008. Immediately before or concurrently with his/her
acceptance of the position as a Director on or after January 1, 2008, an individual may elect that the distribution of his/her Retirement Account to which he becomes entitled pursuant to a Normal, Early or

  
 5 

 
Disability Termination Benefit Entitlement Date shall be in the form of monthly installments as described in this Section 6.3. The same election will apply regardless of whether the
Participant becomes entitled to benefits pursuant to a Normal, Early or Disability Termination Benefit Entitlement Date. (Distribution shall be governed by Section 6.2(b) in the event of the Participant’s death or Section 409A
Disability.) If an individual fails to make such an election at such time, his/her Retirement Account under this Plan shall be distributed in a lump sum as described in Section 6.2. 

(b) Amount of Monthly Payments. 

(i) Participants Who Retire Before January 1, 2008. In the case of a Participant who retires prior to
January 1, 2008, the amount of each installment shall be determined by dividing the total dollar value of the Participant’s Retirement Account by the number of months the Participant received a Monthly Unit Credit to his/her Retirement
Account pursuant to Section 4.1. 
 (ii) Participants Who Retire on or After January 1, 2008. With respect
to Participants who retire from the service of the Board on or after January 1, 2008 and elect to receive payment in installments, interest shall be credited on the unpaid balance of the benefits payable under the Plan until all benefits have
been paid under the Plan. Accordingly, the amount of each monthly benefit shall be determined in a two-step process in which the “initial monthly benefit” is first determined and then each such
monthly benefit is increased as described herein. In the case of a Participant who becomes entitled to benefits pursuant to a Normal Benefit Entitlement Date, or a Participant who becomes entitled to benefits pursuant to a Disability Termination
Benefit Entitlement Date that occurs on or after the date he/she attains age sixty-five (65), the initial monthly benefit shall be determined by dividing the total dollar value of the Participant’s Retirement Account by the number of months the
Participant received a Monthly Unit Credit to his/her Retirement Account pursuant to Section 4.1. In the case of a Participant who becomes entitled to benefits pursuant to an Early Benefit Entitlement Date or a Disability Termination Benefit
Entitlement Date that occurs before he/she attains age sixty-five (65), the initial monthly benefit shall be determined by (i) determining the value of the Participant’s Retirement Account pursuant to Section 4.3 as of the applicable
Valuation Date, (ii) for each month from the first month following the Participant’s termination of service until the date the Participant’s benefits commence pursuant to Section 6.3(c) below (the “Commencement Date”),
crediting such amount with interest at a rate equal to Bank of America’s prime rate as of January 1 of the calendar year in which the applicable month of crediting occurs, and (iii) dividing the increased value of the Retirement
Account as of the Commencement Date by the number of months the Participant received a Monthly Unit Credit to his Retirement Account pursuant to Section 4.1. Each such initial monthly payment determined under this Section 6.3(b) to be paid
during any calendar year shall then be increased by an amount equal to (i) the amount of interest that will be accrued on the aggregate unpaid benefits during such calendar year at a rate equal to the Bank of America’s prime rate as of
January 1 of such calendar year, compounded monthly, divided by (ii) 12, or if less, the number of months during such calendar year for which monthly payments will be made. 

  
 6 

 (c) Commencement and Duration of Monthly Payments. Monthly payments to a Participant
who becomes entitled to benefits pursuant to a Normal Benefit Entitlement Date shall commence on the Normal Benefit Entitlement Date, or as soon thereafter as is administratively convenient, but in no event more than sixty (60) days following
such date. In the case of a Participant entitled to receive benefits pursuant to an Early Benefit Entitlement Date or a Disability Termination Benefit Entitlement Date, monthly payments shall commence as of the first day of the month following the
month in which the Participant attains age sixty- five (65) or, if his/her Early Benefit Entitlement Date or Disability Termination Benefit Entitlement Date occurs after he/she has attained age sixty-five (65), on the Early Benefit Entitlement
Date or Disability Termination Benefit Entitlement Date, whichever is applicable, or as soon thereafter as is administratively convenient, but in no event more than sixty (60) days following such date. Monthly payments shall continue for the
number of months that equals the number of months for which the Outside Director was a Participant in the Plan and received Monthly Retirement Units pursuant to Section 4.1. Upon the death of a Participant prior to the date upon which all
payments due hereunder to the Participant have been made, any remaining payments shall be made to the Beneficiary in a single lump sum no later than ninety (90) days following the Participant’s death. Upon a Change in Control that occurs
prior to the date upon which all payment due hereunder to the Participant have been made, any remaining payments shall be made to the Participant in a single lump sum in accordance with Section 6.4. 

Section 6.4 Change in Control. Notwithstanding anything to the contrary herein, in the event of a Change in
Control that occurs on or after January 1, 2008, each then current Participant serving as a director immediately prior to the Change in Control and any former Participant who is vested in the right to receive a benefit under the Plan shall be
entitled to receive the aggregate value of the Outside Director’s Retirement Account as calculated pursuant to Section 4.3 on the date of the Change in Control in a non-discounted lump sum. Such
payment shall be paid upon the Change in Control or as soon as practicable thereafter, but in no event more than thirty (30) days following the Change in Control. 

ARTICLE VII 
 FUNDING 

Section 7.1 General Assets. All amounts payable to Participants or their Beneficiaries hereunder shall be
paid in cash from the general assets of the Corporation, and no special or separate fund shall be established and no segregation of assets shall be made to assure payment of such amounts. 

Section 7.2 Status of Participants. Nothing contained in the Plan, and no action taken pursuant to its
provisions, shall create or be construed to create a trust of any kind, nor a fiduciary relationship between the Corporation and any Participant or any other person. To the extent that any person acquires a right to receive any amount from the
Corporation under the Plan, such right shall be no greater than the right of an unsecured creditor of the Corporation. 

  
 7 

 ARTICLE VIII 

[RESERVED] 
 ARTICLE IX 

MISCELLANEOUS 

Section 9.1 Right to Amend or Terminate. The Board reserves the right at any time from time to time to
modify, suspend, amend, or terminate the Plan in whole or in part; provided, however, that no such amendment or termination shall adversely affect the existing rights of any Participant or Beneficiary under the Plan who at such time is receiving
benefits, or of any member of the Board who has five or more years of Board membership. 
 Section 9.2 Board
Member Relationships. Nothing contained herein shall be deemed to give any Board member the right to be continued as a member of the Board, to modify or affect the terms of Board membership or to interfere with the right of shareholders of the
Corporation to elect members of the Board. 
 Section 9.3 Nonalienation of Benefits. To the extent
permitted by law, no amount payable under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, garnishment, pledge or encumbrance. Any attempt to anticipate, alienate, sell, transfer, assign, attach,
pledge or encumber the same shall be void, and no amount payable under the Plan shall be in any manner liable to or subject to the debts, contracts, liabilities, engagements or torts of any Participant or Beneficiary. 

Section 9.4 Payments to Minors and Incompetents. If a Participant or any other person entitled to receive any
benefit hereunder is deemed by the Committee or is adjudged to be legally incapable of giving valid receipt and discharge for such benefit, or is a minor, such benefit shall be paid to such person(s) as the Committee may designate or to a duly
appointed guardian. Any such payment shall be in complete discharge of the liability of the Plan to the Participant or any such other person. 

Section 9.5 Required Information. Each Participant shall file with the Committee such pertinent information
concerning himself/herself, his/her Spouse, children or other dependents or any other person as the Committee may specify, and no Participant, Spouse, Beneficiary or other person shall have any rights or be entitled to any benefits under the Plan
unless such information is filed by or with respect to him/her. 
 Section 9.6 Missing Persons. If the
Committee cannot ascertain the whereabouts of any person to whom a payment is due under the Plan, and if, after five years from the date such payment is due, a notice of such payment due is mailed to the last known address of such person, as shown
on the records of the Committee, and within three months after such mailing such person has not made written claim therefor, the Committee, if it so elects, may direct that such payment and all remaining payments otherwise due to such person be
permanently canceled. 
 Section 9.7 Gender and Number. Wherever used herein, the masculine gender shall
include the feminine gender and the singular shall include the plural, unless the context indicates otherwise. 

  
 8 

 Section 9.8 Interpretation. The Board and the Committee
shall have responsibility for the administration and interpretation of the Plan, including determination of the amount of benefits payable in the event of a dispute. Any determination or interpretation of the Board or Committee with respect to the
Plan shall be final, binding and conclusive on all persons. 
 Section 9.9 Withholding. The Corporation may
withhold from any benefits payable under the Plan all federal, state, local or other taxes as shall be required pursuant to any law or governmental regulation or ruling. 

Section 9.10 Headings. The headings and titles used in the Articles and Sections of the Plan are for
convenience only and shall not be considered or given any effect in interpreting the meaning of the Plan. 

Section 9.11 Governing Law. The provisions of the Plan shall be regulated, governed and construed in
accordance with the laws of the State of California, to the extent such laws are not preempted by the laws of the United States of America. 

Section 9.12 Code Section 409A. It is intended that any amounts payable under this Plan
shall either be exempt from Code Section 409A or shall comply with Code Section 409A (including Treasury Regulations and other published guidance related thereto) so as not to subject Participants to payment of any additional tax, penalty,
or interest imposed under Code Section 409A. The provisions of this Plan shall be construed and interpreted to avoid the imputation of any such additional tax, penalty, or interest under Code Section 409A yet preserve (to the nearest
extent reasonably possible) the intended benefits payable to Participants. For purposes of this Plan, all references to a Participant’s termination of service with the Corporation or termination as a member of the Board shall mean a
“separation from service” as defined in Code Section 409A and Treasury Regulations Section 1.409A-1(h) without regard to the optional alternative definitions available thereunder. 

END OF DOCUMENT 

  
 9 

 PARSONS CORPORATION 

SHARE VALUE RETIREMENT PLAN FOR OUTSIDE DIRECTORS 

BENEFICIARY DESIGNATION 
  

			
	☐	  	I hereby revoke any and all prior designations of a Beneficiary under the Parsons Corporation Share Value Plan for Outside Directors (the “Plan”).
		
	☐	  	I hereby revoke the following designation of only the following Beneficiary or Beneficiaries under the Plan:
		
		  	                                      
                      
		  	[NAME]
		
		  	                                      
                      
		  	[ADDRESS]
		
	☐	  	I hereby designate the following Beneficiary to receive the balance of payments to be made under the Plan, except for any amount to be paid to previously designated Beneficiary under an effective Beneficiary Designation in the event
of my death, as follows, reserving the full right to revoke or modify this designation, or any modification thereof, at any time by a further written designation:

  

													
	Primary Beneficiary Name	  		  	Address	  		  	Relationship to me	  		  	(Birth date if a minor)
	 	  		  	 	  		  	 	  		  	 
	 	  		  	 	  		  	 	  		  	 

 provided, however, that if such Primary Beneficiary shall not survive me by at least sixty (60) days, the following shall
be the Beneficiary: 
  

													
	Contingent Beneficiary Name	  		  	Address	  		  	Relationship to me	  		  	(Birth date if a minor)
	 	  		  	 	  		  	 	  		  	 
	 	  		  	 	  		  	 	  		  	 

 I acknowledge that if I am married and have designated any primary Beneficiary other than my spouse, such Beneficiary
designation will not be valid unless my spouse consents to such designation. 
  

							
	Date	 		 	Name and Signature of Employee

 Consent of Spouse 
 I am
the spouse of the employee who has executed this Beneficiary Designation and I acknowledge that I have read said document and approve of the provisions thereof, and agree that the same shall be binding upon me with the same effect as if I had
executed said document personally. 
  

							
	Date	 		 	Spouse’s Signature

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00294-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00294-of-00352.parquet"}]]