Document:

CHANGE OF CONTROL- CEO

 Exhibit 10.1 
  
 MATRIX SERVICE COMPANY 
  
 Chief Executive Officer (“CEO”) Severance Agreement 
  
 This Agreement between Matrix Service Company (“Matrix” or the “Company”) and Bradley S. Vetal (“Vetal”) is
entered into effective January 3, 2000. 
  
 CEO Severance/Change of
Control 
  
 In the event of a “change of control” in the
ownership of the Company and any “adverse personnel action” against Vetal, Vetal may terminate his employment with the Company and receive two years of severance pay. In addition, all outstanding stock options will vest immediately in the
event of “change of control.” This severance arrangement will apply for a period of two years following any change of control. 
  

	 	•	In calculating Vetal’s severance pay, Vetal’s annual salary at the time of the change of control and adverse personnel action will be multiplied by two, as will
Vetal’s average bonus payment for the lesser of the previous three years or the number of full fiscal years in the CEO position. The sum of these two amounts will be added together and represent Vetal’s severance, which will be paid in a
lump-sum amount. This lump-sum severance amount will be paid to Vetal within 30 days of the adverse personnel action. 

  
 For purposes of this severance agreement, “adverse personnel action” will mean an action taken against Vetal by the acquiring entity which has an adverse impact
on Vetal’s economic status or opportunity with the Company. These actions will include: 
  

	 	•	Involuntary termination 

  

	 	•	Reduction in base salary 

  

	 	•	Reduction in incentive compensation opportunity 

  

	 	•	Material reduction in executive benefits or perquisites 

  

	 	•	Reassignment to a position or role with a lower salary range or salary opportunity 

  

	 	•	Material reduction in responsibilities. 

  
 For purposes of this severance agreement, a “change of control” will mean: 
  

	 	•	The merger or consolidation of the Company with any person or entity (other than a merger or consolidation to change the place of domicile of the Company) where the Company is not
the surviving entity (or survives only as the subsidiary of another person or entity), or 

  

	 	•	The sale of all or substantially all of the Company’s assets to any person or entity, or 

	 	•	If any person or entity together with its affiliates shall become, directly or indirectly, the beneficial owner of at least 51% of the voting stock of the Company, or

  

	 	•	If any person or entity together with its affiliates shall acquire, directly or indirectly, the voting power to elect a majority of the members of the Board of Directors of the
Company (other than the acquisition and voting of proxies by management of the Company to elect members to the Board of Directors in the normal course at an annual meeting of shareholders that is not, directly or indirectly, in connection with, or
for the purposes of effecting, a “change of control”). 

  
 CEO Severance/Involuntary Termination 
  
 In the event of
termination for reasons other than “cause,” Vetal will receive one year of severance pay. This severance pay amount will be paid in a lump-sum and be calculated in the same manner as described above in CEO Severance/Change of
Control. A non-interference and confidentiality agreement for one year will be executed prior to the payment of severance. 
  
 For purposes of this severance agreement, “cause” will mean: 
  

	 	•	Conviction of a felony or pleading guilty or nolo contendre to a felony charge, or 

  

	 	•	Participation as an employee, officer or principal shareholder in any business engaged in activities in direct competition with the Company without the consent of the Company, or

  

	 	•	Gross and willful neglect of responsibilities as CEO, or 

  

	 	•	Other offenses against the Company, to include theft, embezzlement, violation of Company policy, or the release of proprietary or confidential information in a manner that would be
materially detrimental to the Company’s best interest. 

  

			
	 Matrix Service Company

		
	By:	 	 /s/ Michael J. Hall        

	 	 	 Michael J. Hall
 Chief Financial Officer

		
	By:	 	 /s/ Bradley S. Vetal        

	 	 	 Bradley S. Vetal
 President & Chief Executive OfficerCHANGE OF CONTROL- CFO

 Exhibit 10.2 
  
 MATRIX SERVICE COMPANY 
  
 Chief Financial Officer (“CFO”) Severance Agreement 
  
 This Agreement between Matrix Service Company (the “Company”) and George L. Austin (“Austin”) is entered into effective
June 1, 2004. 
  
 CFO Severance/Change of Control 
  
 In the event of a “change of control” in the ownership of the Company and any
“adverse personnel action” against Austin, Austin may terminate his employment with the Company and receive one year of severance pay. In additional, all outstanding stock options will vest immediately in the event of “change of
control.” This severance arrangement will apply for a period of two years following any change of control. 
  

	 	•	In calculating Austin’s severance pay, Austin’s annual salary at the time of the change of control and adverse personnel action will be multiplied by one, as will
Austin’s average bonus payment for the lesser of the previous three years or the number of full fiscal years in the CFO position. The sum of these two amounts will be added together and represent Austin’s severance, which will be paid in a
lump-sum amount. This lump-sum severance amount will be paid to Austin within 30 days of the adverse personnel action. 

  
 For purposes of this severance agreement, “adverse personnel action” will mean an action taken against Austin by the acquiring entity which has an adverse
impact on Austin’s economic status or opportunity with the Company. These actions will include: 
  

	 	•	Involuntary termination 

  

	 	•	Reduction in base salary 

  

	 	•	Reduction in incentive compensation opportunity 

  

	 	•	Material reduction in executive benefits or perquisites 

  

	 	•	Reassignment to a position or role with a lower salary range or salary opportunity 

  

	 	•	Material reduction in responsibilities. 

  
 For purposes of this severance agreement, a “change of control” will mean: 
  

	 	•	The merger or consolidation of the Company with any person or entity (other than a merger or consolidation to change the place of domicile of the Company) where the Company is not
the surviving entity (or survives only as the subsidiary of another person or entity), or 

  

	 	•	The sale of all or substantially all of the Company’s assets to any person or entity, or 

	 	•	If any person or entity together with its affiliates shall become, directly or indirectly, the beneficial owner of at least 51% of the voting stock of the Company, or

  

	 	•	If any person or entity together with its affiliates shall acquire, directly or indirectly, the voting power to elect a majority of the members of the Board of Directors of the
Company (other than the acquisition and voting of proxies by management of the Company to elect members to the Board of Directors in the normal course at an annual meeting of shareholders that is not, directly or indirectly, in connection with, or
for the purposes of effecting, a “change of control”). 

  
 CFO Severance/Involuntary Termination 
  
 In the event of
termination for reasons other than “cause,” Austin will receive one year of severance pay. This severance pay amount will be paid in a lump-sum and be calculated in the same manner as described above in CFO Severance/Change of
Control. A non-interference and confidentiality agreement for one year will be executed prior to the payment of severance. 
  
 For purposes of this severance agreement, “cause” will mean: 
  

	 	•	Conviction of a felony or pleading guilty or nolo contendre to a felony charge, or 

  

	 	•	Participation as an employee, officer or principal shareholder in any business engaged in activities in direct competition with the Company without the consent of the Company, or

  

	 	•	Gross and willful neglect of responsibilities as CFO, or 

  

	 	•	Other offenses against the Company, to include theft, embezzlement, violation of Company policy, or the release of proprietary or confidential information in a manner that would be
materially detrimental to the Company’s best interest. 

  

			
	 Matrix Service Company

		
	By:	 	 /s/ Bradley S. Vetal        

	 	 	 Bradley S. Vetal
 President and Chief Executive Officer

		
	By:	 	 /s/ George L. Austin        

	 	 	 George L. Austin
 Chief Financial OfficerFORM OF STOCK OPTION AWARD AGREEMENT

 Exhibit 10.3 
  
 MATRIX SERVICE COMPANY 
 STOCK OPTION AGREEMENT 
  
 This Agreement is effective as of «GrantDate», among Matrix Service Company, a Delaware corporation (the “Company”), «Optionee» (“Optionee”) and the spouse, if any, of «Optionee».

  
 To carry out the purposes of the Matrix Service Company 1991
Stock Option Plan, as amended (the “Plan”), to which this Agreement is expressly subject, by affording Optionee the opportunity to purchase shares of Common Stock, par value $0.01 per share, of the Company (“Stock”), and in
consideration of the mutual agreements and other matters set forth herein and in the Plan, the Company and Optionee hereby agree as follows: 
  
 1. Grant of Option. The Company hereby grants to Optionee the right and option (the “Option”) to purchase all or any part of an aggregate
of «NumberofShares» shares of Stock, on the terms and conditions set forth herein and in the Plan, a copy of which is attached hereto as Exhibit A and is incorporated herein by reference. It is intended that the Option qualify as an
“incentive stock option” within the meaning of Section 422A of the Internal Revenue Code of 1986, as amended (the “Code”). 
  
 The Option, if not previously exercised, shall expire and not be exercisable after ten (10) years, unless earlier terminated as provided below.

  
 2. Purchase Price. The purchase price of Stock
purchased upon exercise of the Option shall be «PurchasePrice» per share, which has been determined to be not less than the fair market value of the Stock at the date of grant of the Option. 
  
 3. Exercise of Option. Subject to the earlier expiration of the Option
as herein provided and subject to the terms and conditions contained herein, the Option may be exercised, by written notice (which complies in all respects with the provisions of this Agreement) to the Company as its principal executive office
addressed to the attention of the Secretary of the Company, at any time and from time to time on and after «GrantDate», such exercise to be effective at the time of receipt of such written notice at the Company’s principal executive
office during normal business hours, but any exercise of the Option must be for a minimum of 100 shares of Stock and the Option shall only be exercisable in accordance with the attached schedule. 
  
 Optionee (or the person permitted to exercise the Option in the event of
Optionee’s death) shall be and have all of the rights and privileges of a shareholder of record of the Company with respect to shares acquired upon exercise of the Option, effective upon such exercise. 
  
 Further, and notwithstanding anything herein to the contrary, the
Compensation Committee of the Board of Directors (“the Committee”) may, in its sole discretion, at any time or times (i) treat the exercise of all or part of the Option then being exercised as the exercise of a stock appreciation right or
(ii) cancel all or part of the Option, whether or not then exercisable, by treating such cancellation as being the exercise of a stock appreciation right. In the event the Committee takes such action, the Company shall compute an amount (the
“Appreciation Amount”) equal to the excess (if any) of the aggregate fair market value of the number of shares of Stock with respect to which this Option is deemed “exercised” as a stock appreciation right over the aggregate
purchase price of such number of shares and the Company shall pay to the Optionee, in lieu of his purchasing such number of shares or retaining the option with respect to such shares (as the case may be), cash equal to the Appreciation Amount, less
any applicable withholdings required for federal, state or local tax purposes. 
  
 4. Payment of Exercise Price. The purchase price of shares as to which the Option is exercised shall be paid in full at the time of exercise in cash. 
  
 5. Non-Transferability. The Option may not be transferred by Optionee
otherwise than by will or the laws of descent and distribution. 
  

 6. Termination of Employment. If the Optionee’s employment is terminated for
“cause” (defined below), the Option shall automatically expire simultaneously with such termination. In the event of termination of an Optionee’s employment or termination by the Company for any reason other than “cause”,
the Option may be exercised by the Optionee at any time within the three-month period commencing on the day next following such termination. For purposes of this clause, “cause” shall mean: 
  
 (i) final conviction of the Optionee of a felony under the laws of the
United States or any state thereof which results or was intended to result directly or indirectly in gain or personal enrichment by the Optionee at the expense of the Company; 
  
 (ii) participation by the Optionee as an employee, officer or principal shareholder in any business engaged in activities in
direct competition with the Company without the consent of the Company; or 
  
 (iii) gross and willful inattention to Optionee’s duties as an employee for a continuous period of three months other than due to Optionee’s total physical disability, or another cause reasonably beyond the
control of Shareholder, which inattention to duty has a material adverse effect on the Company. 
  
 In the event that an Optionee’s employment with the Company shall terminate due to retirement or permanent disability, the Optionee shall have the
right, subject to subsections (1) and (3) above, to exercise any Option at any time during the period of twelve months following such termination, to the extent the Option was exercisable on the termination date. The Committee shall determine
whether, for purposes of the Plan, any termination of employment is due to retirement or permanent disability, and whether an authorized leave of absence on military or government service or for other reasons shall constitute a termination of
employment. 
  
 If an Optionee shall die while entitled to
exercise an Option, the Optionee’s estate, personal representative or beneficiary, as the case may be, shall have the right, subject to subsections (1) and (3) above, to exercise the Option at any time during the period of 12 months following
the date of the Optionee’s death, to the extent that the Option was exercisable on the day of the Optionee’s death. 
  
 Notwithstanding anything to the contrary, in the event that an employee dies or becomes permanently disabled, all unvested options will automatically
become vested and may be exercisable in accordance with this paragraph 6. 
  
 The Committee may, in its discretion, (i) accelerate the exercisability of all or part of an Option that is not otherwise exercisable or (ii) provide that an Option shall remain outstanding and be exercisable
following termination of employment (or other specified events in the case of non-employees) on such other terms and conditions as the Committee shall approve. 
  

7. Withholding of Tax. To the extent that the exercise of the Option is a taxable event with respect to which the Company has a duty to withhold
for federal or state income tax purposes, Optionee shall pay to the Company at the time of such exercise (or such other time as the law permits if Optionee is subject to Section 16(b) such amount of money as the Company may require to meet its
obligation under applicable tax laws or regulations, and if Optionee fails to do so, the Company is authorized to withhold from any cash remuneration then or thereafter payable to Optionee any tax required to be withheld by reason of such resulting
compensation income or otherwise refuse to issue or transfer any shares otherwise required to be issued pursuant to the terms hereof. 
  
 8. Status of Stock. Until the shares of Stock acquirable upon the exercise of the Option have been registered for issuance under the Securities Act
of 1933, as amended (the “Act”), the Company will not issue such shares unless the Optionee provides the Company with a written opinion of legal counsel, who shall be satisfactory to the Company, addressed to the Company and satisfactory
in form and substance to the Company’s counsel, to the effect that the proposed issuance of such shares to the holder of the Option may be made without registration under the Act. If exemption from registration under the Act is available upon
an exercise of the Option, Optionee (or the person permitted to exercise this option in the event of Optionee’s death or incapacity), if requested by the Company to do so, will execute and deliver to the Company in writing an agreement
containing such provisions as the Company may require to assure compliance with applicable securities laws. 
  

 Unless the offering, sale and delivery of shares of Stock acquirable upon exercise of the Option have
been registered and continue to do so at the date of exercise hereof under the Act, Optionee agrees that the shares of Stock which Optionee acquires by exercising the Option shall be acquired for investment without a view to distribution, within the
meaning of the Act, and shall not be sold, transferred, assigned, pledged or hypothecated in the absence of an effective registration statement for the shares under the Act and applicable state securities laws or an applicable exemption from the
registration requirements of the act and any applicable state securities laws. Optionee also agrees that the shares of Stock which Optionee may acquire by exercising the Option will not be sold or disposed of in any manner which would constitute a
violation of any other applicable securities laws, whether federal or state. 
  
 Optionee further agrees that the Option granted herein shall be subject to the requirement that, if at any time the Board shall determine, in its discretion, that the listing, registration or qualification of the
shares subject to such Option upon any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition of, or in connection with, the issue or purchase
or issuance of shares hereunder, such Option may not be exercised in whole or in part unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not reasonably accepted to the
Board. 
  
 9. Employment Relationship. For purposes of this
Agreement, Optionee, if an employee, shall be considered to be in the employment of the Company as long as Optionee remains an employee of either the Company, a parent or subsidiary corporation (as defined in section 425 of the Code) of the Company,
or a corporation or a parent or subsidiary of such corporation assuming or substituting a new agreement for this Agreement. Any question as to whether and when there has been a termination of such employment, for purposes of this Agreement, and the
cause of such termination, for purposes of this Agreement, shall be determined by the Committee, and its determination shall be final. Nothing herein shall give Optionee any right to continued employment or affect in any manner the right of the
Company or any subsidiary or parent corporation to terminate the employment of Optionee. 
  
 10. Binding Effect. This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under Optionee. This Agreement and all actions taken shall be
governed by and constructed in accordance with the laws of the State of Delaware. In the event of conflict between this Agreement and the Plan, the terms of the Plan shall control. The Committee shall have authority to construe the terms of this
Agreement, and the Committee’s determinations shall be final and binding on Optionee and the Company. 
  
 «Optionee»—Information included in the Notice of Grant of Stock Options and Option Agreement

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