Document:

EX-10.1

 Exhibit 10.1 

THE L. B. FOSTER COMPANY 

2014 
 EXECUTIVE
ANNUAL INCENTIVE COMPENSATION PLAN 
 The purpose of this document is to establish in writing the 2014 performance goals and other
terms applicable to the 2014 awards authorized under the L. B. Foster Company Executive Annual Incentive Compensation Plan (“Plan”) for the Fiscal Year (as defined below). 

 

	I.	DEFINITIONS 

 Capitalized terms not otherwise defined herein shall have the meaning
ascribed thereto in the Plan. The following terms shall be defined as follows: 
 1.1 “Company” shall mean L. B. Foster
Company and those subsidiaries thereof in which L. B. Foster Company owns 100% of the outstanding common stock. 
 1.2
“Operating Unit” shall mean the Company’s units or divisions which are reported in the Company’s internal financial statements and set forth in Schedule 1.10. 

1.3 “Component” of any Operating Unit shall be as set forth in Schedule 1.10. 

1.4 “Financial Performance Award” shall mean an award, as determined for each Participant, equal to (i) the
“Participant’s Target Incentive” multiplied by (ii) the applicable aggregate percentage specified for Financial Performance Awards under Section 3.2, the payment of which shall be contingent solely upon the attainment of the
objective financial performance goals established by the Committee for Corporate and Operating Unit Pre-Tax Income, Corporate and Operating Unit Working Capital as a Percentage of Sales, and Corporate ROIC for the Fiscal Year as set forth in
Schedule 1.10. 
 1.5 “Base Compensation” shall mean the total base salary, rounded to the nearest whole dollar,
actually paid to a Participant during the Fiscal Year, excluding incentive compensation, commissions, reimbursement of expenses, severance, car allowances or all other payments not deemed part of a Participant’s base salary; provided, however,
that the Participant’s contributions to the Company’s 401(k) plan(s) and the payment of overtime shall be included in Base Compensation. To the extent applicable, Base Compensation for Participants who terminate during the Fiscal Year
shall include only such Base Compensation paid to such Participants during the Fiscal Year for the period prior to such termination. 

1.6 “Participant” shall mean all executive officers of the Company set forth on Schedule 1.11. 

1.7 “Participant’s Target Incentive” shall mean the product of the Base Compensation of a Participant multiplied by the
target percentage established for a Participant pursuant to section 3.1 hereof. 

 1.8 “Fiscal Year” means the 2014 calendar year (January 1, 2014 through
December 31, 2014). 
 1.9 “Pre-Tax Income” shall mean the pre-tax income for the Fiscal Year, determined in accordance
with generally accepted accounting principles, including the applicable LIFO charge or credit but excluding: (i) all expenses, costs, profits, losses or gains (exclusive of employee travel) attributable to (a) the sale (or attempted sale),
other than sales of inventory in the ordinary course of business, of more than 25% of the assets of an “Operating Unit” or 50% of the assets of a Component in the Fiscal Year, or (b) the acquisition, or unsuccessful attempted
acquisition, of a business in the Fiscal Year; (ii) the costs of the Plan for domestic Operating Units; (iii) the impact on any Operating Unit from any administrative intercompany charges related to transfer pricing compliance where the
consolidated impact is zero; (iv) any costs related to purchase accounting step up in the basis of tangible or intangible assets not classified as depreciation and amortization; (v) investment income or losses arising from non-operating
investments of cash pursuant to the Company’s investment policy; and (vi) any extraordinary, unusual, infrequent or non-recurring items which are quantified and must be disclosed in management’s discussion and analysis of financial
conditions and results of operations in the Company’s Annual Report on Form 10-K for such period. Notwithstanding the foregoing, in the event more than 25% of the assets of an Operating Unit or 50% of the assets of a Component are sold,
excluding sales of inventory in the ordinary course of business, during the Fiscal Year, such Operating Unit’s or Component’s, as applicable, Plan Target and Actual Pre-Tax Income shall be eliminated from all calculations. 

1.10 “Working Capital as a Percentage of Sales” (“W/C as a % of Sales”) shall mean with respect to the Company, or
as applicable, for an Operating Unit, for the Fiscal Year, the average monthly balances of Inventory and Accounts Receivable less the average monthly balances of Accounts Payable and Deferred Revenue divided by annual net sales. 

1.11 “Return on Invested Capital” (“ROIC”) shall mean, with respect to the Company for the Fiscal Year:
(A) after tax earnings from continuing operations before interest income and interest expense and amortization charges and any costs recognized related to a purchase accounting step up in the basis of tangible or intangible assets not
classified as amortization (all tax affected using the effective corporate tax rate) and excluding: (i) the effect of changes in accounting principles (ii) all expenses, costs, profits, losses, and gains (exclusive of employee travel)
attributable to (a) the sale, excluding sales of inventory in the ordinary course of business, of more than 25% of the assets of an “Operating Unit” or, more than 50% of the assets of a Component, or (b) the acquisition, or
unsuccessful attempted acquisition, of a business in 2014, and (iii) any extraordinary, unusual, infrequent or non-recurring items which are quantified and are disclosed in management’s discussion and analysis of financial conditions and
results of operations in the Company’s Annual Report on Form 10-K for such period, divided by (B) an average of month end total assets less the sum of cash, marketable securities and non-interest bearing current liabilities, determined in
accordance with generally accepted accounting principles. 

 1.12 “Target Working Capital as a Percent of Sales (Corporate and Operating Unit), Target
Pre-Tax Income (Corporate and Operating Unit), and Target ROIC” shall mean the respective targets as set forth in Schedule 1.10. 
  

	II.	ELIGIBILITY 

 2.1 Additional Conditions. Subject to the terms and conditions set
forth herein and in the Plan and unless the Committee determines otherwise, in its sole discretion, a Participant’s right, if any, to receive payment of their respective Financial Performance Awards shall also be contingent upon satisfaction of
each of the following requirements: 
 a. A Participant must execute a Confidentiality, Intellectual Property and
Non-Compete Agreement in a form satisfactory to the Committee and deliver the executed agreement to the Company’s Vice President, Human Resources and Administration on or before October 1 of the applicable Fiscal Year. If a Participant
previously has executed a Confidentiality, Intellectual Property and Non-Compete Agreement, the Participant need not execute and deliver another Confidentiality, Intellectual Property and Non-Compete Agreement. 

b. A Participant’s Target Percentage award shall be as set forth in Section 3.1. In the event a Participant changes
from one position to another position set forth in Section 3.1 or is promoted into one of the positions set forth in Section 3.1 during the Fiscal Year performance period, the Target Percentage for such Participant shall be pro-rated
between the Target Percentages of each position held during the Fiscal Year based on which position was held on the first day of each month in the Fiscal Year performance period and may be allocated among different Operating Units as determined by
the Committee. Any newly hired Participant shall have a Target Percentage as set forth in Section 3.1, provided their employment began in such position by October 1 of the Fiscal Year performance period. 

c. Except as otherwise expressly set forth in Section 6(b) of the Plan or as otherwise determined by the Committee, if a
Participant’s employment terminates with the Company prior to the Payment Date, the Participant shall forfeit any and all rights to payment or any Financial Performance Award granted hereunder. 

	III.	AWARDS 

 3.1 Target Percentages. Each Participant shall have a Target Percentage
based upon the position held by such Participant, as follows: 
  

					
	 Title*
	  	Target Percentage	 
	 Other
	  	 	**	  
	 Controller or Executive Director
	  	 	30	% 
	 Vice President; CXT President
	  	 	40	% 
	 Sr. Vice President
	  	 	50	% 
	 Sr. Vice President & CFO or Executive Vice President
	  	 	55	% 
	 Chief Executive Officer
	  	 	75	% 

  

	*	Refers solely to officers of L.B. Foster Company and not, except with respect to CXT President, officers of a subsidiary. 

	**	As determined by the Committee. 

 Other employees selected by the Committee may also be made
Participants in the Plan on such terms as may be approved by the Committee and consistent with the terms of the Plan. 
 3.2 Target
Amount. The target amount of a Participant’s Financial Performance Award, if any, shall be determined and allocated based on the percentages specified in the table below (and Schedule 1.11) 

 

											
	 	  	Metric	 	CEO, Sr VP & CFO;
;VP-Business
Development; VP-
Human
Resources & Admin; VP
& General Counsel;
and
Controller and CAO	 	 	VP’s and
SVP Responsible
for Operating
Unit(s)	 
	 Financial Performance Awards
	  	Corporate ROIC	 	 	15	% 	 	 	—  	  
	  	Operating Unit Pre-Tax Income	 	 	—  	  	 	 	50	% 
	  	Working Capital as a % of Sales	 	 	15	% 	 	 	20	% 
	  	Corporate Pre-Tax Income	 	 	70	% 	 	 	30	% 

 3.3 Financial Performance Award Multiplier. Subject to the terms and conditions set forth herein and in
the Plan, the amount of Financial Performance Award earned shall be calculated (as allocated under Section 3.2) based on the actual level of attainment of Working Capital as a Percentage of Sales, Pre-Tax Income and ROIC relative to Target W/C
as a % of Sales (Corporate and Operating Unit), Target Pre-Tax Income (Corporate and Operating Unit) and/or Target ROIC(as allocated under Section 3.2) utilizing the percentage multiplier as set forth in the following tables: 

	 	a.	Pre-Tax Income Multiplier (Corporate/Operating Unit) 

  

					
	 % of Target Pre-Tax

Income
	  	Corporate or
Operating Unit
Multiplier	 
	 170% and over
	  	 	200	% 
	 160%
	  	 	185	% 
	 150%
	  	 	175	% 
	 140%
	  	 	160	% 
	 130%
	  	 	145	% 
	 120%
	  	 	130	% 
	 110%
	  	 	115	% 
	 100%
	  	 	100	% 
	 90%
	  	 	84	% 
	 80%
	  	 	68	% 
	 70%
	  	 	52	% 
	 60%
	  	 	36	% 
	 50%
	  	 	20	% 
	 Less than 50%
	  	 	0	% 

  

	 	b.	ROIC Multiplier 

  

					
	 % of Target ROIC
	  	ROIC Multiplier	 
	 127.5% and over
	  	 	200	% 
	 123.0%
	  	 	167	% 
	 112.8%
	  	 	133	% 
	 100.0%
	  	 	100	% 
	 93.7%
	  	 	73	% 
	 87.8%
	  	 	47	% 
	 80.0%
	  	 	20	% 
	 Less than 80.0%
	  	 	0.0	% 

  

	 	c.	W/C as a % of Sales Multiplier 

  

					
	 % of Target Average W/C

as a % of Sales
	  	Corporate or
Operating Unit
Multiplier	 
	 86.0% and under
	  	 	200	% 
	 88.7%
	  	 	175	% 
	 91.3%
	  	 	150	% 
	 94.3%
	  	 	130	% 
	 97.4%
	  	 	115	% 
	 100.0%
	  	 	100	% 
	 102.9%
	  	 	80	% 
	 106.5%
	  	 	60	% 
	 110.0%
	  	 	40	% 
	 Greater than 110.0%
	  	 	0	% 

 The calculation of the percent of target achieved in the above tables shall be adjusted
proportionately to reflect whole percentages achieved between the levels in the table. For example, if Corporate achieved 73% of Target Pre-Tax Income, the percent of target achieved would be 57%; if Corporate achieved 137% of Target Pre-Tax Income,
the percent of target achieved would be be156%. 
 3.4 Limitation on Financial Performance Award. Notwithstanding any provision to
the contrary, a Participant’s Financial Performance Award shall not exceed $1,000,000 for any Participant for the Fiscal Year performance period under the Plan. In the event that the amount of any such award for the Fiscal Year earned exceeds
$1,000,000 for a Participant, such award shall be reduced to $1,000,000. 
  

	IV.	RECOUPMENT 

 In the event the Company is required to prepare an accounting restatement
applicable to any financial reporting period covering a period within the Fiscal Year due to the material noncompliance of the Company with any financial reporting requirement under the securities laws or other applicable law and if the Committee,
in its discretion, so determines, each “Specified Participant” (as defined below) shall pay to the Company, in cash, all cash paid to or on behalf of such Participant under the Plan for the Fiscal Year in excess of the amount of such
compensation that would have been paid to the Participant for the Fiscal Year based on the restated financial results. Any such payment shall be made within the time periods prescribed by the Committee. The term “Specified Participant”
means any Participant that the Committee has determined, in its sole discretion, has committed fraud, negligence, or intentional misconduct that was a significant contributing factor to the Company having to prepare an accounting restatement. A
Specified Participant’s failure to make any such timely payment to the Company constitutes an independent and material breach of the terms and conditions of the Plan, for which the Company may seek recovery of the unpaid amount as liquidated
damages, in addition to all other rights and remedies the Company may have against the Participant. By participating in the Plan, each Participant agrees that timely payment to the Company as set forth in this Section IV is (i) reasonable and
necessary, (ii) is not a penalty, and (iii) does not preclude the Company from seeking all other remedies that may be available to the Company. 

The Committee, in its discretion, shall determine whether the Company shall effect any such recovery (i) by seeking repayment from the
Specified Participant, (ii) by reducing (subject to applicable law and the terms and conditions of the applicable plan, program or arrangement) the amount that would otherwise be payable to the Specified Participant under any compensatory plan,
program or arrangement maintained by the Company or any of its affiliates, (iii) by withholding payment of future increases in compensation (including the payment of any discretionary bonus amount) or grants of compensatory awards that would
otherwise have been made in accordance with the Company’s otherwise applicable compensation practices, or (iv) by any combination of the foregoing. 

 Notwithstanding any other provisions of this document, if the awards granted pursuant to this
document become subject to recovery under any Company policy adopted hereafter and required by law, regulation or stock exchange listing requirement, the awards shall be subject to such deductions, recoupment, and clawback as may be required to be
made pursuant to such Company policy (the “Clawback Requirement”). In the event the awards granted pursuant to this document and the Plan become subject to such Clawback Requirement, then the awards shall be subject to such Clawback
Requirement, and this Section IV shall no longer apply to such awards. 
 Notwithstanding the foregoing, the Company shall not be
required to make any additional payment in the event that the restated financial results would have resulted in a greater payment to any Participant. 
  

	V.	COMPENSATION COMMITTEE 

 All determinations with respect to any Financial Performance
Award shall be made by the Committee and shall be final, conclusive and binding on the Company, the Participant and any and all interested parties. No payment of a Financial Performance Award shall be made prior to the Committee certifying in
writing that the performance goals and other material terms applicable to such awards for the Fiscal Year as set forth herein (including the Schedules attached hereto) have been attained. 

The undersigned Chairman of the Committee hereby certifies, on behalf of the Committee, that the performance goals and other material terms
applicable to the awards for the Fiscal Year as set forth herein (including the Schedules attached hereto) have been determined and approved at the Committee meeting of even date herewith. 

 

			
	By:	 	/s/ William H. Rackoff
		 	William H. Rackoff
		 	Chairman, Compensation Committee
	
	Date: 02/25/14EX-10.2

 Exhibit 10.2 

RESTRICTED STOCK AGREEMENT 

(EXECUTIVE) 
 (Section 5.1 Of
The Omnibus Incentive Plan, As Amended And Restated) 
 This Restricted Stock Agreement set forth below (this
“Agreement”) is dated as of                      the “Issue Date”) and is between L. B. Foster
Company, a Pennsylvania corporation (“Company”), and                      (the “Stockholder”). 

The Company has established its 2006 Omnibus Incentive Plan, as Amended and Restated (the “Plan”), to advance the
interests of the Company and its stockholders by providing incentives to certain eligible persons who contribute significantly to the strategic and long-term performance objectives and growth of the Company. All capitalized terms not otherwise
defined in this Agreement have the same meaning given them in the Plan. 
 Pursuant to the provisions of the Plan, the Committee has full
power and authority to direct the execution and delivery of this Agreement in the name and on behalf of the Company, and has authorized the execution and delivery of this Agreement. 

AGREEMENT 
 The parties,
intending to be legally bound hereby, agree as follows: 
 Section 1. Issuance of Stock.
Subject and pursuant to all terms and conditions stated in this Agreement and in the Plan, as of the Issue Date the Company hereby grants to Stockholder              shares of Company
Common Stock, par value $0.01 per share (the “Common Stock”) pursuant to Article V of the Plan. For purposes of this Agreement, the “Shares” shall include all of the shares of Common Stock issued to
Stockholder pursuant to this Agreement or issued with respect to such shares of Common Stock, including, but not limited to, shares of Company capital stock issued by way of a stock dividend or stock split or in connection with a combination of
shares, recapitalization, merger, consolidation or other reorganization. 
 Section 2. Vesting; Rights; Obligations; and
Restrictions on Transfer. 
 (a) None of the Shares may be sold, transferred, pledged,
hypothecated or otherwise encumbered or disposed of until they have vested in accordance with the terms of this Section 2. Except as set forth in this Section 2, effective at the close of business on the date Stockholder ceases to be
employed by the Company or an affiliate of the Company, any Shares that are not vested in accordance with this Section 2, and any dividends accrued pursuant to Section 2(c) below, shall be automatically forfeited without any further
obligation on the part of the Company. Stockholder hereby assigns and transfers any forfeited Shares and the stock certificate(s) or other evidence of ownership representing such Shares to the Company. 

 (b) All of the Shares will vest on
                    . However, if a Change of Control occurs prior to the end of the full vesting period and (i) Stockholder experiences an
involuntary Separation from Service by the Company other than (A) a Termination for Cause, (B) death, or (C) Disability, or the Stockholder terminates for Good Reason (as defined below) within the 90-day period immediately preceding a
Change of Control, or on or within the two-year period immediately following a Change of Control, or (ii) the acquiring entity in a Change of Control does not assume this Agreement and convert the Shares into a substantially comparable award of
capital stock or other equity incentive instrument in such acquiring entity as determined by the Board of Directors, any unvested Shares shall immediately vest. Vesting shall be tolled during any period in which Stockholder is on an approved leave
of absence from employment with the Company or an affiliate of the Company. 
 (c) Subject to the foregoing provisions of
this Section 2 and the provisions of the Plan, Stockholder shall have all rights of a shareholder with respect to the Shares, including the right to vote the Shares and to receive dividends, provided, however, that until such time
as the Shares, or portion thereof, shall have vested, the Company shall accrue on its books and records for the benefit of the Stockholder an amount equal to the dividend payment that would otherwise have been received on the Shares but for this
agreement to accrue the dividend payments. Dividends accrued for the benefit of the Stockholder shall be payable as the Shares vest with payment to be made by the Company, or its agent, within ten (10) business days after vesting. For purposes
of clarity, if this Agreement provides that only a portion of the Shares vest on a given date, accrued dividends shall only be payable on that portion of Shares vesting and not on any Shares that remain unvested. 

(d) For purposes of this Agreement, “Good Reason” means the Stockholder’s Separation from Service as a result of
the occurrence, without the Stockholder’s written consent, of one of the following events: 
 (i) A material reduction
in the Stockholder’s annual base salary (unless such reduction relates to an across-the-board reduction similarly affecting Stockholder and all or substantially all other executives of the Company and its affiliates); 

(ii) The Company (or the Subsidiary employing Stockholder) makes or causes to be made a material adverse change in the
Stockholder’s position, authority, duties or responsibilities which results in a significant diminution in the Stockholder’s position, authority, duties or responsibilities, excluding any change made in connection with (A) a
reassignment to a New Job Position (as defined herein), or (B) a termination of Stockholder’s employment with the Company for Disability, Termination for Cause, death, or temporarily as a result of Participant’s incapacity or other
absence for an extended period; (For purposes of this Agreement, “New Job Position” means a change in the Stockholder’s position, authority, duties or responsibilities with the Company or any affiliate due to the Stockholder’s
demonstrated inadequate or unsatisfactory performance, provided the Stockholder had been notified of such inadequate performance and had been given at least 30 days to cure such inadequate performance.) 

  
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 (iii) A relocation of the Company’s principal place of business, or of
Stockholder’s own office as assigned to Stockholder by the Company or the Subsidiary employing Stockholder to a location that increases Stockholder’s normal work commute by more than 50 miles; or 

(iv) Any other action by the Company or the Subsidiary employing Stockholder that constitutes a material breach of the
employment agreement, if any, under which Stockholder’s services are to be performed. 
 In order for Stockholder to terminate for Good
Reason, (A) the Company must be notified by Stockholder in writing within 90 days of the event constituting Good Reason, (B) the event must remain uncorrected by the Company for 30 days following such notice (the “Notice
Period”), and (C) such termination must occur within 60 days after the expiration of the Notice Period. 
 (e) The
certificates, if any, representing unvested Shares will bear the following or similar legend: 
 “The securities represented by this
certificate are subject to forfeiture and restrictions on transfer as set forth in the Restricted Stock Agreement between the issuer and the initial holder of these shares. A copy of that document may be obtained by the holder without charge at the
issuer’s principal place of business or upon written request.” 
 Section 3. Investment
Representation. Stockholder hereby acknowledges that the Shares cannot be sold, transferred, assigned, pledged or hypothecated in the absence of an effective registration statement for the shares under the Securities Act of 1933, as
amended (the “Securities Act”), and applicable state securities laws or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws or as otherwise provided herein
or in the Plan. Stockholder also agrees that the Shares which Stockholder acquires pursuant to this Agreement will not be sold or otherwise disposed of in any manner which would constitute a violation of any applicable securities laws, whether
federal or state. 
 Section 4. Book Entry Account. At the discretion of the Company, certificates for the shares
may not be issued. In lieu of certificates, the Company may establish a book entry account for the Shares, until vested, in the name of the Stockholder with the Company’s transfer agent for its Common Stock. 

Section 5. Income Taxes. Stockholder acknowledges that any income for federal, state or local income tax purposes
that Stockholder is required to recognize on account of the issuance of the Shares to Stockholder shall be subject to withholding of tax by the Company. In accordance with administrative procedures established by the

  
 3 

 
Company, Stockholder may elect to satisfy Stockholder’s minimum statutory withholding tax obligations, if any, on account of the vesting of Shares hereunder in one or a combination of the
following methods: in cash or by separate check made payable to the Company and/or authorizing the Company to withhold a number of vested Shares issued hereunder equal to the applicable minimum statutory withholding tax obligation. In the event
Stockholder does not make such payment when requested, the Company may refuse to issue or cause to be delivered any Shares under this Agreement or any other incentive plan agreement entered into by Stockholder and the Company until such payment has
been made or arrangements for such payment satisfactory to the Company have been made. Stockholder agrees further to notify the Company promptly if Stockholder files an election pursuant to Section 83(b) of the Internal Revenue Code of 1986, as
amended (the “Code”), with respect to any Shares. 
 Section 6. No Right to Employment.
Neither the Plan nor this Agreement shall be deemed to give Stockholder any right to continue to be employed by the Company, nor shall the Plan or the Agreement be deemed to limit in any way the Company’s right to terminate the employment
of the Stockholder at any time. 
 Section 7. Further Assistance. Stockholder will provide assistance
reasonably requested by the Company in connection with actions taken by Stockholder while employed by the Company, including but not limited to assistance in connection with any lawsuits or other claims against the Company arising from events during
the period in which Stockholder was employed by the Company. 
 Section 8. Binding Effect; No Third Party
Beneficiaries. This Agreement shall be binding upon and inure to the benefit of the Company and Stockholder and their respective heirs, representatives, successors and permitted assigns. This Agreement shall not confer any rights or
remedies upon any person other than the Company and the Stockholder and their respective heirs, representatives, successors and permitted assigns. The parties agree that this Agreement shall survive the issuance of the Shares. 

Section 9. Agreement to Abide by Plan; Conflict between Plan and Agreement. The Plan is hereby incorporated by
reference into this Agreement and is made a part hereof as though fully set forth in this Agreement. Stockholder, by execution of this Agreement, represents that he or she is familiar with the terms and provisions of the Plan and agrees to abide by
all of the terms and conditions of this Agreement and the Plan. Stockholder accepts as binding, conclusive and final all decisions or interpretations of the Committee upon any question arising under the Plan or this Agreement (including, without
limitation, the date of any termination of Stockholder’s employment with the Company). In the event of any conflict between the Plan and this Agreement, the Plan shall control and this Agreement shall be deemed to be modified accordingly,
except to the extent that the Plan gives the Committee the express authority to vary the terms of the Plan by means of this Agreement, in which case this Agreement shall govern. 

  
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 Section 10. Entire Agreement. Except as otherwise provided
herein, this Agreement and the Plan, which Stockholder has reviewed and accepted in connection with the grant of the Shares reflected by this Agreement, constitute the entire agreement between the parties and supersede any prior understandings,
agreements, or representations by or between the parties, written or oral, to the extent they related in any way to the subject matter of this Agreement. 

Section 11. Choice of Law. To the extent not superseded by federal law, the laws of the Commonwealth of
Pennsylvania (without regard to the conflicts laws thereof) shall control in all matters relating to this Agreement and any action relating to this Agreement must be brought in State or Federal Courts located in the Commonwealth of Pennsylvania.

 Section 12. Notice. All notices, requests, demands, claims, and other communications under this
Agreement shall be in writing. Any notice, request, demand, claim, or other communication under this Agreement shall be deemed duly given if (and then two business days after) it is sent by registered or certified mail, return receipt requested,
postage prepaid, and addressed to the intended recipient at the following address: If to the Company, L. B. Foster Company, 415 Holiday Drive, Pittsburgh, PA 15220, Attn: Secretary; and if to the Stockholder, to his or her address as it appears on
the Company’s records. Either party to this Agreement may send any notice, request, demand, claim, or other communication under this Agreement to the intended recipient at such address using any other means (including personal delivery,
expedited courier, messenger service, telecopy, ordinary mail, or electronic mail), but no such notice, request, demand, claim, or other communication shall be deemed to have been duly given unless and until it actually is received by the intended
recipient. Either party to this Agreement may change the address to which notices, requests, demands, claims, and other communications hereunder are to be delivered by giving the other party notice in the manner set forth in this section. 

Section 13. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be
deemed an original but all of which together shall constitute one and the same instrument. 
 Section 14.
Amendments. This Agreement may be amended or modified at any time by an instrument in writing signed by the parties hereto, or as otherwise provided under the Plan. Notwithstanding, the Company may, in its sole discretion
and without the Stockholder’s consent, modify or amend the terms of this Agreement, impose conditions on the timing and effectiveness of the issuance of the Shares, or take any other action it deems necessary or advisable, to cause this Award
to be excepted from Section 409A of the Code (or to comply therewith to the extent the Company determines it is not excepted). 

Section 15. Acknowledgments. 

(a) By accepting the Shares, the Stockholder acknowledges receipt of a copy of the Plan and agrees to be bound by the terms and
conditions set forth in the Plan and this Agreement, as in effect and/or amended from time to time. 

  
 5 

 (b) The Plan and related documents may be delivered to you electronically. Such
means of delivery may include but do not necessarily include the delivery of a link to a Company intranet site or the internet site of a third party involved in administering the Plan, the delivery of the documents via e-mail or CD-ROM or such other
delivery determined at the Committee’s discretion. Both Internet Email and the World Wide Web are required in order to access documents electronically. 

(c) This Award is intended to be excepted from coverage under Section 409A of the Code and the regulations promulgated
thereunder and shall be interpreted and construed accordingly. Notwithstanding, Stockholder recognizes and acknowledges that Section 409A of the Code may impose upon the Stockholder certain taxes or interest charges for which the Stockholder is
and shall remain solely responsible. 
 (d) Stockholder acknowledges that, by receipt of this Award, Stockholder has read
this Section 15 and consents to the electronic delivery of the Plan and related documents, as described in this Section 15. Stockholder acknowledges that Stockholder may receive from the Company a paper copy of any documents delivered
electronically at no cost if Stockholder contacts the Company’s General Counsel by telephone at (412) 928-7829 or by mail to L.B. Foster Company, 415 Holiday Drive, Pittsburgh, PA 15220 ATTN: General Counsel. Stockholder further
acknowledges that Stockholder will be provided with a paper copy of any documents delivered electronically if electronic delivery fails. 

IN WITNESS WHEREOF, the Company has caused a duly authorized officer to execute this Agreement on its behalf, and the Stockholder has placed
his/her signature hereon, effective as of the Issue Date. 
  

			
	L. B. FOSTER COMPANY
		
	By:	 	  

	Title:	 	  

 ACCEPTED AND AGREED TO: 

                          
              , Stockholder 

  
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