Document:

Exhibit
      10.1

    

    
      	
              FIXED
                TERM EMPLOYMENT AGREEMENT

            	 

    

     

    This
      Employment Agreement (“the
      Agreement”)
      dated
      as
      of              ,2008
      is
      between FOSTER
      WHEELER CONTINENTAL EUROPE SRL (“the
      Company”
or
      “the
      Employer”)
      and
      Mr. UMBERTO DELLA SALA (“the
      Executive”).

     

    By
      executing this agreement the Company and the Executive agree as
      follows.

    

    Type
      of employment: fixed-term
      contract, pursuant to Article 10, Paragraph 4, Law Decree n. 368 of 6 September
      2001, as modified by Law n. 247 of 24 December 2007. 

    

    Starting
      date and duration of employment: from
           
      1st,
      2008 to
      December 31th,
      2011.

    

    Anticipated
      termination of the contract: it
      is
      expressely agreed that in derogation of the provisions of the Italian Law
      currently applicable to the fixed-term labour relationship, the Executive shall
      be entitled to terminate the employment with the Company at any time during
      the
      term of the Agreement by giving a four months’ notice starting from the receipt
      by the Company of Executive’s resignation letter and without any penalties for
      the Executive.

    

    
      	
              Role

            	 	
              Executive

            
	 	 	 
	
              Applicable National
                Contract:

            	 	
              CCNL
                per i Dirigenti di Aziende Produttrici di Beni e Servizi (“the
                National Contract”)

            
	 	 	 
	
              Annual
                Gross Salary:

            	 	
              Euro
                195.000,00.=

            	 
	 	 	 
	
              “Overall Minimum
                Guaranteed Salary” according to the National Contract
                :

            	 	
              Euro
                55.000,00.=

            	 

    

     

    The
      annual Gross Salary is fixed and not subject to adjustements for the entire
      duration of the Agreement.

     

    In
      particular the balance between the Annual Gross Salary paid to the Executive
      and
      the “Overall Minimum Guaranteed Salary” provided for by the National Contract
      will absorbe future salary increases which may become due by law and/or as
      a
      result of future renewals of the National Contract. 

    

    Other
      Benefits: in
      addition to the benefits provided by the National Contract and in accordance
      with Company’s Policies and Procedures, the Executive shall have the right to
      benefit of the “Cassa Tutela” Health Insurance Policy, supplemental to FASI, and
      shall be assigned a Company car of “C Category” for mixed use. 

     

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    

    

    Protection
      of Confidential Information; Non-Competition and
      Non-Solicitation.

     

    1.1 Confidential
      Information.
      The
      Executive acknowledges that the Executive’s services will be unique, that they
      will involve the development of Employer subsidized relationships with key
      customers, suppliers, and service providers as well as with key Employer
      employees and that the Executive’s work for the Employer will give the Executive
      access to highly confidential information not available to the public or
      competitors, including trade secrets and confidential marketing, sales, product
      development and other data and information which it would be impracticable
      for
      the Employer to effectively protect and preserve in the absence of this Section
      1.1 and the disclosure or misappropriation of which could materially adversely
      affect the Employer. Accordingly, the Executive agrees:

     

    1.1.1 except
      in
      the course of performing the Executive’s duties for the Employer or
      in
      case of information which is or will become known to the public,
      not ant
      any time, whether before, during or after the Executive’s employment with the
      Employer, to divulge to any other entity or person any confidential information
      acquired by the Executive concerning the Employer’s or its subsidiaries’ or
      affiliates’ financial affairs or business processes or methods or their
      research, development or marketing programs or plans, or any other of its or
      their trade secrets. The foregoing prohibitions shall include, without
      limitation, directly or indirectly publishing (or causing, participating in,
      assisting or providing any statement, opinion or information in connection
      with
      the publication of) any diary, memoir, letter, story, photograph, interview,
      article, essay, account or description (whether fictionalized or not) concerning
      any of the foregoing, publication being deemed to include any presentation
      or
      reproduction of any written, verbal or visual material in any communication
      medium, including any book, magazine, newspaper, theatrical production or movie,
      or television or radio programming or commercial. In the event that the
      Executive is requested or required to make disclosure of information subject
      to
      this Section 1.1.1 under any court order, subpoena or other judicial process,
      then, except as prohibited by law, the Executive will promptly notify the
      Employer, take all reasonable steps, requested by the Employer, to defend
      against the compulsory disclosure and permit the employer to control with
      counsel of its choice any proceeding relating to the compulsory disclosure.
      The
      Executive acknowledges that all information, the disclosure of which is
      prohibited by this section, is of a confidential and proprietary character
      and
      of great value to the Employer and its subsidiaries and affiliates;

     

    1.1.2 to
      deliver promptly to the Employer on termination of the Executive’s employment
      with the Employer, or at any time that the Employer may so request, all
      confidential memoranda, notes, records, reports, manuals, drawings, software,
      electronic/digital media records, blueprints and other documents (and all copies
      thereof) relating to Employer’s (and its subsidiaries’ and affiliates’) business
      and all property associated therewith, which the Executive may then possess
      or
      have under the Executive’s control.

     

    1.2 Employer
      Protections.
      In
      consideration of the Employer’s entering into this Agreement, the Executive
      agrees that at all times during the duration and thereafter for the time period
      described hereinbelow, the Executive shall not, directly or indirectly, for
      Executive or on behalf of or in conjunction with, any other person, company,
      partnership, corporation, business, group, or other entity (each, a
“Person”):

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    

     

    1.2.1 Non-Competition:
      until
      the
      first anniversary of the Date of expiry of the Agreement or termination of
      Executive’s employment for any reason (“Date
      of Termination”),
      engage
      in any activity for or on behalf of a Competitor, as director,
      employee,
      shareholder
      (excluding any such share holding by the Executive of no more than five percent
      (5%) of the shares of common stocks of a publicly traded company),
      consultant or otherwise, which is the same as or similar to activity in which
      Executive engaged at any time during the last two (2) years of employment by
      the
      Employer;
      notwithstanding
      the
      foregoing, although the intent of the parties is to have a global, worldwide
      non-compete, solely in the event a court holds that the foregoing global
      non-compete is unenforceable due to its scope, the Executive voluntarily agrees
      to be subject to a revised non-compete which instead covers any activity which
      is the same as or similar
      to
      activity in which Executive engaged at any time during the last two (2) years
      of
      employment by the Employer within
      the territory of the
      European Union, Saudi Arabia and Singapore;

     

    1.2.2 Non-Solicitation:
      until
      the
      second anniversary of the Date of Termination:

     

    (i) Of
      Employees:
      call
      upon
      any Person who is, at such Date of the Executive’s termination of employment,
      engaged in activity on behalf of the Employer or any subsidiary or affiliate
      of
      the Employer for the purpose or with the intent of enticing such Person to
      cease
      such activity on behalf of the Employer or such subsidiary or affiliate;
      or

     

    (ii) Of
      Customers:
      solicit,
      induce, or attempt to induce any customer of the Employer to cease doing
      business in whole or in part with or through the Employer or a subsidiary or
      affiliate, or to do business with any Competitor.

     

    For
      purposes of this Agreement, “Competitor” means a person or entity who or which
      is engaged in a material line of business conducted by the Employer. For
      purposes of this Agreement, “a material line of business conducted by the
      Employer” means an activity of the Employer generating gross revenues to that
      entity of more than twenty-five million dollars (US$25,000,000) in the
      immediately preceding fiscal year of the respective entity.

     

    1.2.3 Consideration
      from Employer for Entering into the Non-Compete and
      Non-Solicitation.
      As
      consideration for agreeing to the restrictive covenants set forth in paragraphs
      1.2.1 and 1.2.2 immediately above (the “Consideration”), the Employer agrees to
      pay the Executive, the following:

     

    (A) a
      payment
      equal to € 58,500 (i.e., 30% of Executive’s Annual Gross Salary) to be made
      on the
      first
      day of the month immediately following the month which includes Executive’s Date
      of Termination or within ten (10) days thereof; and

     

    (B) another
      payment equal to € 19,500 (i.e., 10% of Executive’s Annual Gross Salary) to be
paid
      on
      the one-year anniversary of
      the
      payment date
      under
      clause
      (A) immediately above.

     

    It
      is
      understood that the payments under this Paragraph 1.2.3
      are
      in
      addition to, and not in lieu of, any other payments due to the Executive under
      this Agreement. Notwithstanding the foregoing, the Employer shall not be
      required to make any payments hereunder if the Executive commits a breach or
      threatens to breach any of the provisions of Paragraph 1.2.1 and 1.2.2
      immediately above.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    

     

    1.3 Remedies
      and injunctive Relief.
      If
      the
      Executive commits a breach or
      threatens to breach any
      of
      the provisions of Section 1.1 or 1.2 hereof, the Employer shall have the right
      and remedy to have the provisions of this Agreement specifically enforced by
      injunction or otherwise by any court having jurisdiction, it being acknowledged
      and agreed that any such breach will cause irreparable injury to the Employer
      in
      addition to money damage and that money damages alone will not provide a
      complete or adequate remedy to the Employer, it being further agreed that such
      right and remedy shall be in addition to, and not in lieu of, any other rights
      and remedies available to the Employer under law
      or in
      equity.

     

    1.4 Severability.
      If any
      of the covenants contained in Sections 1.1, 1.2 or 1.3, or any part thereof,
      hereafter are construed to be invalid or unenforceable, the same shall not
      affect the remainder of the covenant or covenants, which shall be given full
      effect, without regard to the invalid portions. 

     

    1.5
      Extension
      of Term of Covenants Following Violation The
      period during which the prohibitions of Section 1.2 are in effect shall be
      extended by any period or periods during which the Executive is in violation
      of
      Section 1.2

     

    1.6
      Choice
      of Forum and Modification by Court.
      It is
      agreed that any court anywhere in the world has jurisdiction to hear the
      particular issues of Section 1.1 or 1.2. If any of the covenants contained
      in
      Section 1.1 and 1.2 are held to be unenforceable, the parties agree that the
      court making such determination shall have the power to revise or modify such
      provision to make it enforceable to the maximum extent permitted by applicable
      law and, in its revised or modified form, said provision shall then be
      enforceable. 

     

    1.7
      Modification
      by One Court Not to Affect Covenants in Another Country.
      The
      parties hereto intend to and hereby confer jurisdiction only to enforce the
      specific covenants contained in Sections 1.1. and 1.2 upon the courts of any
      country within the geographical scope of such covenants. In the event that
      the
      courts of any one or more of such countries hold such covenants wholly
      unenforceable by reason of the breadth of such covenants or otherwise, it is
      the
      intention of the parties’ hereto that such determination not bar or in any way
      affect the Employer’s right to the relief provided above in the courts of any
      other countries within the geographical scope of such covenants as to breaches
      of such covenants in such other respective jurisdictions, the above covenants
      as
      they relate to each country being for this purpose severable into diverse and
      independent covenants 

     

    Other
      terms and conditions of the labour employment. As
      regards all the other terms and conditions not specified in this letter, express
      reference is made to the National Contract.

    

      
        	
                FOSTER
                  WHEELER CONTINENTAL EUROPE

              	
                THE
                  EXECUTIVE

              
	 	 
	
                BY

              	 
	 	 
	
                NAME:
                  Antonio Vietti

              	
                NAME:
                  Umberto della Sala 

              
	 	 
	
                TITLE:
                  Human Resources DirectorExhibit
      10.2

     

    EMPLOYMENT
      AGREEMENT

     

    This
      EMPLOYMENT
      AGREEMENT
      (this
“Agreement”), dated as of March 1, 2008, is between FOSTER
      WHEELER LTD.,
      a
      Bermuda company (the “Employer”), and UMBERTO
      DELLA SALA (the
      “Executive”).

     

    WHEREAS,
      the
      Executive is currently employed by Foster Wheeler Continental Europe, S.r.L.
      (the “Italian Subsidiary”); 

     

    WHEREAS,
      Executive’s
      employment relationship with the Italian Subsidiary is collectively governed
      by
      Italian law,
      the
Contratto
      Collettivo Nazionale Dirigenti Aziende Industriali which
      is
      set to expire on December 31, 2008, and any extension thereto or successor
      contract (the “National Contract”), an
      Italian employment contract which will become effective April 1, 2008, and
      the
      applicable Italian Subsidiary policies
      and
      procedures;

     

    WHEREAS,
      the
      Executive was elected as President
      and Chief Operating Officer
      of
      Employer pursuant to a Board of Directors Resolution of Employer
      (the
“Corporate Position”)
      on
      January 31, 2007; 

     

    WHEREAS,
      the
      Executive’s role and responsibilities now include leading the Employer’s Global
      Power Group in addition to continuing to lead the Employer’s Global Engineering
      and Construction Group, including a continuing supervisory role in the Italian
      Subsidiary;

     

    WHEREAS,
      it is
      anticipated that over the next four (4) years, the Executive will devote the
      majority of his time and efforts to the Corporate Position at the Employer
      while
      continuing modified and reduced duties at the Italian Subsidiary; 

     

    WHEREAS,
      the
      Executive will enter into a new employment agreement with the Italian Subsidiary
      to reflect his modified role; 

     

    WHEREAS,
      the
      Executive wishes to establish a United States contractual employment
      relationship with Employer related to the Corporate Position which is fully
      independent from the new Italian employment relationship with the Italian
      Subsidiary; and

     

    WHEREAS,
      the
      Executive and the Employer wish to outline the new United States employment
      relationship based on the Executive’s new role and responsibilities, on the
      terms and conditions set forth in this Agreement.

     

    NOW
      THEREFORE, BE IT RESOLVED, accordingly,
      the Employer and the Executive by executing this Agreement hereby agree as
      follows:

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
              1.

            	
              Employment,
                Duties and Acceptance.

            

    

     

    1.1 Employment,
      Duties.
      The
      Employer hereby agrees to employ the Executive for the Term (as defined in
      Section 2.1) to render services to the Employer, in the capacity of
      President and Chief Operating Officer (or such other title of at least
      equivalent level consistent with the Executive’s duties from time to time as may
      be assigned to the Executive by the Chief Executive Officer of the Employer
      consistent with such position) of the Employer and to perform such other duties
      consistent with such position (including service as a director or officer of
      any
      affiliate of the Employer if elected) as may be assigned by the Chief
      Executive Officer of the Employer. The Executive shall have all authorities
      as
      are customarily and ordinarily exercised by executives in similar positions
      in
      similar businesses of similar size in the United States. Notwithstanding the
      foregoing, the Executive may participate in civic, charitable, industry, and
      professional organizations to the extent that such participation does not
      materially interfere with the performance of Executive’s duties hereunder.

     

    1.2 Acceptance.
      The
      Executive hereby accepts such employment relationship with the Employer and
      agrees to render the services described above. During the Term, and consistent
      with the above, the Executive agrees to serve the Employer faithfully and to
      the
      best of the Executive’s ability, to devote the Executive’s energy and skill to
      such employment relationship, and to use the Executive’s best efforts, skill and
      ability to promote the Employer’s interests. 

     

    1.3 Fiduciary
      Duties to the Employer.
      Executive
      acknowledges and agrees that Executive owes a fiduciary duty of loyalty,
      fidelity and allegiance to act at all times in the best interests of the
      Employer and to do no act which would, directly or indirectly, injure the
      Employer’s business, interests, or reputation. It is agreed that any direct or
      indirect interest in, connection with, or benefit from any outside activities,
      particularly commercial activities, which interest might in any way adversely
      affect the Employer, involves a possible conflict of interest. In keeping with
      Executive’s fiduciary duties to the Employer, Executive agrees that Executive
      shall not knowingly become involved in a conflict of interest with the Employer,
      or upon discovery thereof, allow such a conflict to continue. Moreover,
      Executive shall not engage in any activity which might involve a possible
      conflict of interest without first obtaining approval in accordance with the
      Employer’s policies and procedures. 

     

    1.4 Location.
      The
      duties to be performed by the Executive hereunder shall be performed primarily
      outside of the United States, subject to reasonable travel requirements
      consistent with the nature of the Executive’s duties from time to time on behalf
      of the Employer. 

     

    
      	
              2.

            	
              Term
                of Employment.

            

    

     

    2.1 Term.
      The
      term
      of the Executive’s employment under this Agreement (the “Term”) shall commence
      on January 1, 2008 (the “Effective Date”), and shall end on December 31, 2011
      unless such Term is terminated earlier pursuant to Section 4.
      Notwithstanding the foregoing, the parties may mutually agree in writing to
      extend such Term. 

     

    
      	
              3.

            	
              Compensation;
                Benefits.

            

    

     

    3.1 Salary.
      As
      compensation for the services to be rendered pursuant to Subsection 1.1 of
      this
      Agreement, the Employer agrees to pay to the Executive during the Term a base
      salary, payable monthly in arrears, at the annual rate of Euro 346,000 (the
“US
      Base Salary”). On January 1, 2009, such US Base Salary shall be increased to the
      annual rate of Euro 391,000. On each subsequent January 1 (or such other
      appropriate date during each year of the Term when the salaries of executives
      at
      the Executive’s level are normally reviewed), the Employer shall review the US
      Base Salary and determine if, and by how much, the US Base Salary should be
      increased; provided,
      however, the
      US
      Base Salary under this Agreement, including as subsequently adjusted upwards,
      may not be decreased thereafter without the written consent of Executive, except
      for across-the-board changes for executives at the Executive’s level. All
      payments of US Base Salary or other compensation hereunder shall be less such
      deductions or withholdings as are required by applicable law and
      regulations.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    3.2 Bonus.
      Executive
      shall be eligible to participate, as determined by the Compensation Committee
      of
      the Board of Directors of the Employer (the “Board”), in the Employer’s annual
      incentive program as in effect from time to time for executives at the
      Executive’s level. The Executive shall be eligible for an annual incentive bonus
      at a target opportunity of one hundred twenty percent (120%) of US Base Salary
      (up to a maximum opportunity of two hundred and forty percent (240%) of US
      Base
      Salary) based upon the achievement of certain Corporate Center objectives
      established in advance by the Board or its Compensation Committee (the “Annual
      Bonus”). The actual amount of any Annual Bonus shall be determined by and in
      accordance with the terms of the Employer’s annual incentive program as in
      effect from time to time and the Executive shall have no absolute right to
      an
      Annual Bonus in any year. 

     

    3.3 Long-Term
      Incentive.
      The
      Executive will receive on a date designated by the Board during the first open
      trading window for Section 16 officers subsequent to the effectiveness of this
      Agreement (known as the “Grant Date”) the following:

     

    3.3.1 Restricted
      Stock Unit Grant.
      A
      grant
      of a number of restricted stock units which will be payable in shares of common
      stock of the Employer (“Common Stock”) with an economic value as of the Grant
      Date equal to approximately Euro 2,972,000 (the “Restricted Stock Units”). The
      Restricted Stock Units will be granted under the Employer’s Omnibus Incentive
      Plan. The Restricted Stock Units will be issued on the Grant Date. For purposes
      of this Subsection 3.3.1, the determination of the number of Restricted Stock
      Units to be granted to Executive shall be consistent with the methodology used
      for valuing restricted stock units granted to employees which has been approved
      and adopted by the Compensation Committee of the Board.

     

    3.3.2 Stock
      Option Grant.
      A grant
      of stock options to purchase shares of Common Stock with an economic value
      as of
      the Grant Date equal to approximately Euro 2,972,000 (the “Options”). The
      Options will be granted under the Employer’s Omnibus Incentive Plan and for
      purposes of such Omnibus Incentive Plan:

     

    (i) the
      Options will be Nonqualified Stock Options; 

     

    (ii) the
      exercise price will be equal to the Fair Market Value of a share of Common
      Stock
      as defined under the terms of the Employer’s Omnibus Incentive Plan on the Grant
      Date; and 

     

    (iii) the
      Expiration Date will be the last business day immediately preceding the fifth
      anniversary of the Grant Date. 

     

    The
      Options will be issued on the Grant Date. For purposes of this Subsection 3.3.2,
      the determination of the number of Options to be granted to Executive shall
      be
      consistent with the methodology used for valuing stock options granted to
      employees which has been approved and adopted by the Compensation Committee
      of
      the Board.

     

    3.3.3 Vesting.
      With
      respect to the Restricted Stock Units and the Options issued on the Grant Date,
      one-fourth (25%) of both the Restricted Stock Units and the Options will vest
      on
      December 31, 2008, another fourth will vest on December 31, 2009, another fourth
      will vest on December 31, 2010, and the remaining one-fourth of both the
      Restricted Stock Units and the Options will vest on December 31, 2011, provided
      that the Executive is still employed on such dates, subject to the provisions
      of
      Section 4 of this Agreement. Executive shall not be eligible to receive any
      additional regular cycle grants under the Employer’s Omnibus Incentive Plan
      until after the fourth anniversary of the Grant Date.

     

    
      
        
           

        

        
          3

          
            

          

        

        
           

        

      

    

    

    3.3.4 Grant
      Agreements.
      The
      Restricted Stock Units and Options will be governed by separate agreements
      entered into between the Executive and the Employer, and in the event of any
      inconsistency between such separate agreements and the terms of this Agreement
      (including, but not limited to Section 4), this Agreement shall govern and
      control. For avoidance of doubt, nothing in the preceding sentence shall be
      construed to limit the application of any provision of such separate agreements
      that expressly refers to and incorporates a provision of this
      Agreement.

     

    3.4 Business
      Expenses.
      The
      Employer shall pay or reimburse the Executive for all reasonable expenses
      actually incurred or paid by the Executive during the Term in the performance
      of
      the Executive’s services for the Employer under this Agreement, subject to and
      in accordance with applicable expense reimbursement and related policies and
      procedures as in effect from time to time with the Employer.

     

    3.5 Vacation.
      During
      the Term, the Executive shall be entitled to an annual paid vacation period
      or
      periods in accordance with the applicable executive vacation policy as in effect
      from time to time with respect to the Italian Subsidiary, which in no event
      shall be less than the vacation policy as in effect with the Italian Subsidiary
      on the Effective Date.

     

    3.6 Employee
      Pension and Health and Welfare Plans.
      During
      the Term, the Executive shall, to the extent he otherwise is or becomes
      eligible, be entitled to participate in those active defined benefit, defined
      contribution, group insurance, medical, dental, disability and other benefit
      plans of the Employer as from time to time in effect and on a basis no less
      favorable than any other executive at the Executive’s level at the Employer.

     

    3.7 Perquisites.
      During
      the Term, the Executive shall be provided by the Employer with the following
      perquisites:

     

    3.7.1 an
      annual
      physical examination; 

     

    3.7.2 home
      office equipment and associated services for business use in Executive’s homes
      not to exceed US$5,000 per year (which amount includes any applicable gross-up
      for any taxes due for such payment);

     

    3.7.3 annual
      reimbursement for the reasonable fees associated with financial planning and
      income tax advice and document preparation not to exceed US$5,000 per year
      (which amount includes any applicable gross-up for any taxes due for such
      payment); and 

     

    3.7.4 reimbursement
      for a one-time cost of estate planning services, at a time selected by the
      Executive during the Term, not to exceed US$10,000 in the aggregate (which
      amount includes any applicable gross-up for any taxes due for such
      payment).

     

    3.8 Make
      Whole Payment.
      Within
      30
      days from the date of the effectiveness of this Agreement, the Employer shall
      pay the Executive Euro 44,000 as a “make whole” payment.

     

    
      
        
           

        

        
          4

          
            

          

        

        
           

        

      

    

    

    
      	
              4.

            	
              Termination.

            

    

     

    4.1 Termination
      Events.
      

     

    4.1.1 Executive’s
      employment and the Term shall terminate immediately upon the occurrence of
      any
      of the following:

     

    (i) Death:
      the
      death
      of the Executive;

     

    (ii) Disability:
      the
      physical or mental disability of the Executive, whether totally or partially,
      such that with or without reasonable accommodation the Executive is unable
      to
      perform the Executive’s material duties for the Employer, for a period of not
      less than one hundred and eighty (180) consecutive days; or

     

    (iii) For
      Cause By the Employer:
      notice
      of
      termination for “Cause”. As used herein, “Cause” means: 

     

    (A) conviction
      of a felony; 

     

    (B) actual
      or
      attempted theft or embezzlement of the Employer’s assets; 

     

    (C) use
      of
      illegal drugs; 

     

    (D) material
      breach of the Agreement that the Executive has not cured within thirty (30)
      days
      after the Employer has provided the Executive notice of the material breach
      which shall be given within sixty (60) days of the Employer’s knowledge of the
      occurrence of the material breach; 

     

    (E) commission
      of an act of moral turpitude that in the judgment of the Board can reasonably
      be
      expected to have an adverse effect on the business, reputation or financial
      situation of the Employer and/or the ability of the Executive to perform the
      Executive's duties; 

     

    (F) gross
      negligence or willful misconduct in performance of the Executive’s duties;

     

    (G) breach
      of
      fiduciary duty to the Employer; 

     

    (H) willful
      refusal to perform the duties of Executive’s titled position; or 

     

    (I) a
      material violation, as determined by the Board in its sole discretion, of the
      Foster Wheeler Code of Business Conduct and Ethics.

     

    4.1.2 For
      Good Reason By the Executive:
      The
      Executive may immediately terminate the Executive’s position with the Employer
      for Good Reason and, in such event, the Term shall terminate. As used herein,
      “Good Reason” means a material negative change in the employment relationship
      without the Executive’s consent, as evidenced by, among other things, the
      occurrence of any of the following:

     

    
      
        
           

        

        
          5

          
            

          

        

        
           

        

      

    

    

    (i) material
      diminution in title, duties, responsibilities or authority with the Employer;
      

     

    (ii) reduction
      of US Base Salary and benefits except for across-the-board changes for
      executives at the Executive’s level; 

     

    (iii) exclusion
      from executive benefit/compensation plans; 

     

    (iv) relocation
      of the Executive’s principal business location by the Employer of greater than
      fifty (50) miles; 

     

    (v) material
      breach of the Agreement by the Employer; 

     

    (vi) resignation
      in compliance with securities/corporate governance applicable law (such as
      the
      US Sarbanes-Oxley Act) or rules of professional conduct specifically applicable
      to such Executive, or

     

    (vii) termination
      without Cause by the Italian Subsidiary of the Italian employment
      agreement.

     

    For
      each
      event described above in this Section 4.1.2, the Executive must notify the
      Employer within ninety (90) days of the occurrence of the event and the Employer
      shall have thirty (30) days after receiving such notice in which to
      cure.

     

    4.1.3 Without
      Cause By the Employer:
      The
      Employer may terminate the Executive’s employment thirty (30) days following
      notice of termination without Cause given by the Employer and, in such event,
      the Term shall terminate. During such thirty (30) day notice period, the
      Employer may require that the Executive cease performing some or all of the
      Executive’s duties and/or not be present at the Employer’s offices and/or other
      facilities. 

     

    4.1.4 Without
      Good Reason By the Executive:
      The
      Executive may voluntarily terminate the Executive’s position effective thirty
      (30) days following notice to the Employer of the Executive’s intent to
      voluntarily terminate without Good Reason and, in such event, the Term shall
      terminate. During such thirty (30) day notice period, the Employer may require
      that the Executive cease performing some or all of the Executive’s duties and/or
      not be present at the Employer’s offices and/or other facilities. 

     

    4.1.5 Definition
      of Termination Date.
      For
      all
      purposes of this Agreement, the Executive’s “Termination Date” shall be the
      earlier of (i) the date upon which Executive’s employment terminates pursuant to
      this Section 4.1, or (ii) the expiration of the Term. 

     

    4.2 Payments
      Upon a Termination Event.
      

     

    4.2.1 Entitlements
      Upon Termination For Any Reason.
      Following
      any termination of the Executive’s employment, the Employer shall pay or provide
      to the Executive, or the Executive’s estate or beneficiary, as the case may be:

     

    (i) US
      Base
      Salary earned through the Termination Date; 

     

    
      
        
           

        

        
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    (ii) the
      balance of any awarded (i.e.,
      the
      amount and payment of the specific award has been fully approved by the
      Compensation Committee) but as yet unpaid, annual cash incentive or other
      incentive awards for the calendar year prior to the calendar year during which
      the Executive’s Termination Date occurs;

     

    (iii) a
      payment
      representing the Executive’s accrued but unused vacation; 

     

    (iv) any
      vested, but not forfeited benefits on the Termination Date under the Employer’s
      employee benefit plans in accordance with the terms of such plans; and

     

    (v) any
      benefit continuation and conversion rights to which the Executive is entitled
      under the Employer’s employee benefit plans.

     

    4.2.2 Payments
      Upon Involuntary Termination by the Employer Without Cause or Voluntary
      Termination of the Executive with Good Reason.
      Following a termination by the Employer without Cause or by the Executive for
      Good Reason, the
      Employer shall pay or provide to the Executive in addition to the payments
      in
      Subsection 4.2.1 immediately above: 

     

    (i) an
      amount
      equal to twenty-four (24) months of US Base Salary at the rate in effect on
      the
      Termination Date, payable in a lump sum within 30 days following the Termination
      Date; 

     

    (ii) an
      amount
      equal to 200% of the Executive’s annual cash incentive payment at target,
      payable in a lump sum within 30 days following the Termination Date:

     

    (iii) two
      additional years of age and service to be credited under the Employer’s pension
      plan and/or supplemental pension plan, if and to the extent the Executive was
      participating in any such plans on the Termination Date; 

     

    (iv) two
      years
      of continued health and welfare benefit plan coverage following the Termination
      Date (excluding any additional vacation accrual or sick leave) at active
      employee levels, if and to the extent the Executive was participating in any
      such plans on the Termination Date, provided that the Executive remits monthly
      premiums for the full cost of any health benefits; 

     

    (v) a
      cash
      payment each month during the two-year period following the Termination Date
      equal to the full monthly premium for the medical and health benefits described
      in clause (iv) above minus the active employee cost of such coverage, such
      monthly amount to be grossed-up by the Employer for any applicable income taxes;
      

     

    (vi) except
      as
      prohibited by law, removal of transfer and other restrictions from all shares
      of
      capital stock of the Employer registered in the Executive’s name; 

     

    (vii) full
      vesting of all stock options to purchase shares of capital stock of the
      Employer, restricted stock, and restricted stock units; and

     

    (viii) executive
      level career transition assistance services by a firm selected by the Executive
      and approved by the Employer in an amount not to exceed US$8,000 in the
      aggregate (which amount includes any applicable gross-up for any taxes due
      for
      such payment). 

     

    
      
        
           

        

        
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    Notwithstanding
      any other provision of this Agreement, as consideration for the pay and benefits
      that the Employer shall provide the Executive pursuant to this Section 4.2.2,
      the Executive shall provide the Employer an enforceable waiver and release
      agreement in a form that the Employer normally requires.

     

    4.2.3 Entitlements
      Upon Expiration of the Term.
      For the
      avoidance of doubt, following the natural expiration of the Term of this
      Agreement under Section 2.1, only the general entitlements of Subsection 4.2.1
      apply. 

     

    4.3 Change
      of Control.
      

     

    4.3.1 Definitions.
      

     

    (i) Affiliated
      Company.
      For
      purposes of this Agreement, “Affiliated Company” means any company, directly or
      indirectly, controlled by, controlling or under common control with
      Employer.

     

    (ii) Change
      of Control.
      For
      the
      purpose of this Agreement, a “Change of Control” shall mean:

     

    (A) The
      acquisition by any individual, entity or group (within the meaning of Section
      13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the
      “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of
      Rule 13d-3 promulgated under the Exchange Act) of voting securities of Employer
      where such acquisition causes such Person to own 20% or more of the combined
      voting power of the then outstanding voting securities of Employer entitled
      to
      vote generally in the election of directors (the “Outstanding Employer Voting
      Securities”), provided,
      however,
      that
      for purposes of this subparagraph (A), the following acquisitions shall not
      be
      deemed to result in a Change of Control: (I) any acquisition directly from
      Employer or any corporation or other legal entity controlled, directly or
      indirectly, by Employer, (II) any acquisition by Employer or any corporation
      or
      other legal entity controlled, directly or indirectly, by Employer, (III) any
      acquisition by any employee benefit plan (or related trust) sponsored or
      maintained by Employer or any corporation or other legal entity controlled,
      directly or indirectly, by Employer or (IV) any acquisition by any corporation
      pursuant to a transaction that complies with clauses (I), (II) and (III) of
      subparagraph (C) below; and provided,
      further,
      that if
      any Person’s beneficial ownership of the Outstanding Employer Voting Securities
      reaches or exceeds 20% as a result of a transaction described in clauses (I)
      or
      (II) above, and such Person subsequently acquires beneficial ownership of
      additional voting securities of Employer, such subsequent acquisition shall
      be
      treated as an acquisition that causes such Person to own 20% or more of the
      Outstanding Employer Voting Securities; or

     

    (B) Individuals
      who, as of the date hereof, constitute the Board (such individuals, the
“Incumbent Board”) cease for any reason to constitute at least a majority of the
      Board; provided,
      however,
      that
      any individual becoming a director subsequent to the date hereof whose election,
      or nomination for election by Employer’s shareholders, was approved by a vote of
      at least a majority of the directors then comprising the Incumbent Board shall
      be considered as though such individual were a member of the Incumbent Board,
      but excluding, for this purpose, any such individual whose initial assumption
      of
      office occurs as a result of an actual or threatened election contest with
      respect to the election or removal of directors or other actual or threatened
      solicitation of proxies or consents by or on behalf of a Person other than
      the
      Board; or

     

    
      
        
           

        

        
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    (C) The
      approval by the shareholders of Employer of a reorganization, merger or
      consolidation or sale or other disposition of all or substantially all of the
      assets of Employer (“Business Combination”) or, if consummation of such Business
      Combination is subject, at the time of such approval by shareholders, to the
      consent of any government or governmental agency, the obtaining of such consent
      (either explicitly or implicitly by consummation); excluding, however, such
      a
      Business Combination pursuant to which (I) all or substantially all of the
      individuals and entities who were the beneficial owners of the Outstanding
      Employer Voting Securities immediately prior to such Business Combination
      beneficially own, directly or indirectly, more than 60% of, respectively, the
      then outstanding shares of common stock and the combined voting power of the
      then outstanding voting securities entitled to vote generally in the election
      of
      directors, as the case may be, of the corporation resulting from such Business
      Combination (including, without limitation, a corporation that as a result
      of
      such transaction owns Employer or all or substantially all of Employer’s assets
      either directly or through one or more subsidiaries) in substantially the same
      proportions as their ownership, immediately prior to such Business Combination
      of the Outstanding Employer Voting Securities, (II) no Person (excluding any
      (1)
      corporation owned, directly or indirectly, by the beneficial owners of the
      Outstanding Employer Voting Securities as described in subclause (I) immediately
      preceding, or (2) employee benefit plan (or related trust) of Employer or such
      corporation resulting from such Business Combination, or any of their respective
      subsidiaries) beneficially owns, directly or indirectly, 20% or more of,
      respectively, the then outstanding shares of common stock of the corporation
      resulting from such Business Combination or the combined voting power of the
      then outstanding voting securities of such corporation except to the extent
      that
      such ownership existed prior to the Business Combination and (III) at least
      a
      majority of the members of the board of directors of the corporation resulting
      from such Business Combination were members of the Incumbent Board at the time
      of the execution of the initial agreement, or of the action of the Board,
      providing for such Business Combination; or

     

    (D) approval
      by the shareholders of Employer of a complete liquidation or dissolution of
      Employer.

     

    (iii) Change
      of Control Period.
      For
      purposes of this Agreement, the “Change of Control Period” shall mean the period
      commencing on the date of a Change of Control and ending on the thirteenth-month
      anniversary of such date.

     

    (iv) Good
      Reason.
      For
      purposes of Section 4.3, “Good Reason” (as defined in Section 4.1.2) shall also
      include a termination by the Executive for any reason during the 30-day period
      immediately following the first one-year anniversary of the Start Date (as
      defined below).

     

    (v) Recent
      Annual Bonus.
      For
      purposes of this Agreement, a “Recent Annual Bonus” shall mean a prior year’s
      Annual Bonus in cash equal to at least the highest “annual short-term incentive
      award” (as such terminology is defined in the Foster Wheeler Annual Executive
      Short-Term Incentive Plan) received by the Executive under the Foster Wheeler
      Annual Executive Short-Term Incentive Plan, or any comparable bonus under any
      predecessor or successor plan, including any bonus or portion thereof that
      has
      been awarded but deferred, for the last three full fiscal years prior to the
      Start Date. Notwithstanding anything to the contrary, in the event that during
      any three year look-back period above, any annual bonus paid and received by
      Executive under the Foster Wheeler Annual Executive Short-Term Incentive Plan
      (or any respective predecessor annual incentive plan) was paid by a Foster
      Wheeler affiliate other than the Employer, then any such annual bonus paid
      by
      either Employer or any other Foster Wheeler affiliate during the three-year
      look-back period shall be deemed to be paid by Employer for purposes of this
      computation. 

     

    
      
        
           

        

        
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    (vi) Start
      Date.
      For
      purposes of this Agreement, “Start Date” shall mean the first date of the Change
      of Control Period. Anything in this Agreement to the contrary notwithstanding,
      if a Change of Control occurs and if the Executive’s employment with the
      Employer is terminated prior to the date on which the Change of Control occurs,
      and if it is reasonably demonstrated by the Executive that such termination
      of
      employment (A) was at the request of a third party who has taken steps
      reasonably calculated to effect a Change of Control or (B) otherwise arose
      in
      connection with or anticipation of a Change of Control, then for all purposes
      of
      this Agreement the “Start Date” shall mean the date immediately prior to the
      Termination Date.

     

    4.3.2 Obligations
      of the Employer upon Executive’s Voluntary Termination with Good Reason or
      Employer’s Involuntary Termination of Executive Without Cause (Other Than for
      Death or Disability) During Change of Control Period.
      If,
      during the Change of Control Period, the Employer terminates the Executive’s
      employment without Cause (other than for death or Disability) or the Executive
      terminates his employment for Good Reason:

     

    (i) Lump
      Sum Payment.
      the
      Employer shall pay to the Executive in a lump sum in cash within 30 days after
      the Termination Date the aggregate of the following amounts:

     

    (A) Accrued
      Obligations.
      the
      sum
      of (I) the Executive’s US Base Salary through the Termination Date to the extent
      not theretofore paid, (II) the product of (1) the
      higher of: (a)
      any
      Recent Annual Bonus, or (b) the Annual Bonus paid or payable, including any
      bonus or portion thereof which has been earned but deferred (and annualized
      for
      any fiscal year consisting of less than twelve full months or during which
      the
      Executive was employed for less than twelve full months), for the most recently
      completed fiscal year during the Change of Control Period, if any (such higher
      amount being referred to as the “Highest Annual Bonus”) and (2) a fraction, the
      numerator of which is the number of days in the current fiscal year through
      the
      Termination Date, and the denominator of which is 365, and (III) any
      compensation previously deferred by the Executive (together with any accrued
      interest or earnings thereon) and any accrued vacation pay, in each case, to
      the
      extent not theretofore paid (the sum of the amounts described in subclauses
      (I),
      (II) and (III), (the “Accrued Obligations”);

     

    (B) Three
      Times Amount.
      the
      amount equal to:

     

    (I) three
      (3); MULTIPLIED
      BY

     

    (II) the
      sum
      of 

     

    (1) the
      Executive’s US Base Salary; PLUS

     

    (2) Euro
      195,000; PLUS

     

    (3) the
      Highest Annual Bonus;

     

    
      
        
           

        

        
          10

          
            

          

        

        
           

        

      

    

    

    provided,
      however,
      that
      payment Euro 585,000 of the above-described amount shall be conditioned upon
      formalization of a settlement agreement which both the Executive and the
      Employer (and/or the Italian Subsidiary, as appropriate) agree in good faith
      to
      execute within 30 days of the Termination Date before the appropriate
      authorities in order to make such settlement agreement final and unchallengeable
      under Italian law; in this respect, the Executive, by executing this Agreement,
      expressly gives his consent to such formalization and to appear before the
      appropriate authorities upon the Employer’s or the Italian Subsidiary’s request.
      In such situation, the Employer shall provide a form of such settlement
      agreement that the Executive shall execute before the Italian authorities
      (including Direzione
      Provinciale del Lavoro
      or
      Executive’s Union Associations, at the Employer’s choice). It is intended by the
      parties to mutually agree upon the terms of such settlement agreement when
      and
      if it is ever necessary to enter into such settlement agreement and to enter
      into it in good faith and within 30 days of the Termination Date to accomplish
      the objective of this paragraph (B). Such settlement agreement shall waive
      and/or release any and all entitlements which Executive may receive under
      Italian law and the National Contract (including any social security
      contribution required to be paid on such amounts by the Italian Subsidiary)
      related to a simultaneous or contemporaneous termination of Executive’s
      employment with the Italian Subsidiary due to Executive’s voluntary termination
      with Good Reason or his involuntary termination without Cause (other than for
      death or Disability), including but not necessarily limited to:

     

    (a) Indennità
      Sostitutiva del Preavviso (Indemnity
      in Lieu of Notice); and 

     

    (b) any
      monies received in satisfaction of any claim of the Executive related to the
      termination of the Italian employment relationship under Italian law and/or
      the
      National Contract, save for Trattamento
      di Fine Rapporto
      (T.F.R.)
      (Severance Indemnity) and the final payments due by law (such as the indemnity
      in lieu of accrued paid-leave, quota of 13 monthly compensation (and 14 monthly
      compensation, if applicable), etc.); and 

     

    (c) any
      monies received in satisfaction of any claim or action brought by Executive
      in
      relation to the termination of the Italian employment relationship, in
      particular and by way of example, any Indennità
      Supplementare
      or
      payment of any further compensation for damages, if any.

     

    (C) Retirement
      Plan Make Whole.
      an
      amount equal to the excess of (I) the actuarial equivalent of the benefit under
      the Employer’s qualified defined benefit retirement plan (the “Retirement Plan”)
      (utilizing actuarial assumptions no less favorable to the Executive than those
      in effect under the Retirement Plan immediately prior to the Start Date) which
      the Executive would receive if the Executive’s employment continued for three
      years after the Termination Date assuming for this purpose that all accrued
      benefits are fully vested, and, assuming that the Executive’s compensation in
      each of the three years is that required by Sections 3.1 and 3.2 above, over
      (II) the actuarial equivalent of the Executive’s actual benefit (paid or
      payable), if any, under the Retirement Plan as of the Termination Date plus
      amounts, if any, that the Executive would have contributed under the Retirement
      Plan during such Change of Control Period; and

     

    (D) Payment
      of Equity Awards.
      payment
      for any shares of restricted common shares issued under the Employer’s or an
      Affiliated Company’s Management and Sales Incentive Plan or any other plan
      (whether or not vested), to the extent such shares are tendered to the Employer
      or an Affiliated Company, as applicable, by the Executive within 20 days after
      the Termination Date, at a price per share equal to the highest of (I) the
      market price on the New York Stock Exchange of a common share of Employer at
      the
      close of business on the date of such tender, (II) the highest price paid for
      a
      common share of Employer in any Change of Control transaction occurring on
      or
      after the Start Date, or (III) the market price on the New York Stock Exchange
      of a common share of Employer at the close of business on the date of any such
      Change of Control transaction;

     

    
      
        
           

        

        
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    (ii) Medical
      Coverage.
      for
      five
      years after the Executive’s Termination Date, or such longer period as may be
      provided by the terms of the appropriate medical or health plan, program,
      practice or policy, the Employer shall continue benefits to the Executive and/or
      the Executive’s family at least equal to those which would have been provided to
      them in accordance with the medical or health plans, programs, practices and
      policies if the Executive’s employment had not been terminated or, if more
      favorable to the Executive, and to the extent he otherwise is or becomes
      eligible therefor, as in effect generally at any time thereafter with respect
      to
      other peer executives of the Employer and the Affiliated Companies and their
      families; provided,
      however,
      that
      the Executive remits monthly premiums for the full cost of any medical and
      health benefits; and provided
      further that
      if
      the Executive becomes reemployed with another employer and is eligible to
      receive medical or other health benefits under another employer provided plan,
      the medical and other health benefits described herein shall be secondary to
      those provided under such other plan during such applicable period of
      eligibility. For purposes of determining eligibility (but not the time of
      commencement of benefits) of the Executive for retiree benefits pursuant to
      such
      plans, practices, programs and policies, the Executive shall be considered
      to
      have remained employed until the fifth anniversary of the Termination Date
      and
      to have retired on such fifth anniversary;

     

    (iii) Medical
      Payments.
      the
      Employer shall make a cash payment each month during the five-year period
      commencing after the Executive’s Termination Date, equal to the full monthly
      premium for the medical and health benefits described in Section 4.3.2(v) above
      minus the active employee cost of such coverage, such amount to be grossed-up
      for any applicable income taxes;

     

    (iv) Outplacement
      Services.
      the
      Employer shall, at its sole expense as incurred, provide the Executive with
      outplacement services the scope and provider of which shall be selected by
      the
      Executive in the Executive’s sole discretion; and

     

    (v) Other
      Benefits.
      to the
      extent not theretofore paid or provided, the Employer shall timely pay or
      provide to the Executive any other amounts or benefits required to be paid
      or
      provided or which the Executive is eligible to receive under any plan, program,
      policy or practice or contract or agreement of the Employer and the Affiliated
      Companies (such other amounts and benefits shall be hereinafter referred to
      as
      the “Other Benefits”).

     

    4.3.3 Obligations
      of the Employer upon Executive’s Death.
      If
      the
      Executive’s employment is terminated by reason of the Executive’s death during
      the Change of Control Period, the Employer shall provide the Executive’s estate
      or beneficiaries with the Accrued Obligations and the timely payment or delivery
      of the Other Benefits, and shall have no other severance obligations under
      this
      Agreement. The Accrued Obligations shall be paid to the Executive’s estate or
      beneficiary, as applicable, in a lump sum in cash within 30 days of the
      Termination Date. With respect to the provision of Other Benefits, the term
      “Other Benefits” as utilized in this Subsection 4.3.3 shall include, without
      limitation, and the Executive’s estate and/or beneficiaries shall be entitled to
      receive, benefits at least equal to the most favorable benefits provided by
      the
      Employer and the Affiliated Companies to the estates and beneficiaries of peer
      executives of the Employer and the Affiliated Companies under such plans,
      programs, practices and policies relating to death benefits, if any, as in
      effect with respect to other peer executives and their beneficiaries at any
      time
      during the 120-day period immediately preceding the Start Date or, if more
      favorable to the Executive’s estate and/or the Executive’s beneficiaries, as in
      effect on the date of the Executive’s death with respect to other peer
      executives of the Employer and the Affiliated Companies and their
      beneficiaries.

     

    
      
        
           

        

        
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    4.3.4 Obligations
      of the Employer upon Executive’s Disability.
      If the
      Executive’s employment is terminated by reason of the Executive’s Disability
      during the Change of Control Period, the Employer shall provide the Executive
      with the Accrued Obligations and the timely payment or delivery of the Other
      Benefits, and shall have no other severance obligations under this Agreement.
      The Accrued Obligations shall be paid to the Executive in a lump sum in cash
      within 30 days of the Termination Date. With respect to the provision of Other
      Benefits, the term “Other Benefits” as utilized in this Subsection 4.3.4 shall
      include, and the Executive shall be entitled after the Disability Start Date
      to
      receive, disability and other benefits at least equal to the most favorable
      of
      those generally provided by the Employer and the Affiliated Companies to
      disabled executives and/or their families in accordance with such plans,
      programs, practices and policies relating to disability, if any, as in effect
      generally with respect to other peer executives and their families at any time
      during the 120-day period immediately preceding the Start Date or, if more
      favorable to the Executive and/or the Executive’s family, as in effect at any
      time thereafter generally with respect to other peer executives of the Employer
      and the Affiliated Companies and their families.

     

    4.3.5 Obligations
      of the Employer upon Executive’s Voluntary Termination Without Good Reason or
      Employer’s Involuntary Termination of Executive With Cause During Change of
      Control Period.
      If
      the
      Executive’s employment is terminated for Cause during the Change of Control
      Period, the Employer shall provide to the Executive (i) the Executive’s US Base
      Salary through the Termination Date, (ii) the amount of any compensation
      previously deferred by the Executive, and (iii) Other Benefits, in each case
      to
      the extent theretofore unpaid, and shall have no other severance obligations
      under this Agreement. If the Executive voluntarily terminates employment during
      the Change of Control Period, excluding a termination for Good Reason, the
      Employer shall provide to the Executive the Accrued Obligations and the timely
      payment or delivery of Other Benefits, and shall have no other severance
      obligations under this Agreement. In such case, all Accrued Obligations shall
      be
      paid to the Executive in a lump sum in cash within 30 days of the Termination
      Date.

     

    4.3.6 Certain
      Additional Payments by the Employer.

     

    (i) Definitions.
      The
      following terms shall have the following meanings for purposes of this
      Subsection 4.3.6.

     

    (A) Excise
      Tax.
      “Excise
      Tax” shall mean the excise tax imposed by Section 4999 of the Internal Revenue
      Code of 1986, as amended (the “Code”), together with any interest or penalties
      imposed with respect to such excise tax.

     

    (B) Net
      After-Tax Amount.
      The
“Net
      After-Tax Amount” of a Payment shall mean the Value of a Payment net of all
      taxes imposed on the Executive with respect thereto under Sections 1 and 4999
      of
      the Code and applicable state and local law, determined by applying the highest
      marginal rates that are expected to apply to the Executive’s taxable income for
      the taxable year in which the Payment is made.

     

    (C) Parachute
      Value.
      “Parachute Value” of a Payment shall mean the present value as of the date of
      the change of control for purposes of Section 280G of the Code of the portion
      of
      such Payment that constitutes a “parachute payment” under Section 280G(b)(2), as
      determined by the Accounting Firm for purposes of determining whether and to
      what extent the Excise Tax will apply to such Payment.

     

    (D) Payment.
      A
      “Payment” shall mean any payment or distribution in the nature of compensation
      (within the meaning of Section 280G(b)(2) of the Code) to or for the benefit
      of
      the Executive, whether paid or payable pursuant to this Agreement or
      otherwise.

     

    
      
        
           

        

        
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    (E) Safe
      Harbor Amount.
      The
“Safe
      Harbor Amount” means the maximum Parachute Value of all Payments that the
      Executive can receive without any Payments being subject to the Excise
      Tax.

     

    (F) Value.
      “Value”
      of a Payment shall mean the economic present value of a Payment as of the date
      of the change of control for purposes of Section 280G of the Code, as determined
      by the Accounting Firm (as defined below) using the discount rate required
      by
      Section 280G(d)(4) of the Code.

     

    (ii) Gross-Up
      Payment.
      Anything in this Agreement to the contrary notwithstanding, in the event it
      shall be determined that any Payment would be subject to the Excise Tax, then
      the Executive shall be entitled to receive an additional payment (a “Gross-Up
      Payment”) in an amount such that after payment by the Executive of all taxes
      (and any interest or penalties imposed with respect to such taxes), including,
      without limitation, any income taxes (and any interest and penalties imposed
      with respect thereto) and Excise Tax imposed upon the Gross-Up Payment, the
      Executive retains an amount of the Gross-Up Payment equal to the Excise Tax
      imposed upon the Payments. Any Gross-Up Payment will be made as soon as
      reasonably practicable but in no event later than December 31 of the year
      following the year in which the Excise Tax is incurred.

     

    (iii) Determination
      of the Gross-Up Payment.
      Subject
      to the provisions of paragraph (iv) immediately below, all determinations
      required to be made under this Subsection 4.3.6, including whether and when
      a
      Gross-Up Payment is required and the amount of such Gross-Up Payment and the
      assumptions to be utilized in arriving at such determination, shall be made
      by
      PricewaterhouseCoopers LLP or such other nationally recognized certified public
      accounting firm as may be designated by the Executive (the “Accounting Firm”).
      The Accounting Firm shall provide detailed supporting calculations both to
      the
      Employer and the Executive within 15 business days of the receipt of notice
      from
      the Executive that there has been a Payment, or such earlier time as is
      requested by the Employer. In the event that the Accounting Firm is serving
      as
      accountant or auditor for the individual, entity or group effecting the Change
      of Control, the Executive may appoint another nationally recognized accounting
      firm to make the determinations required hereunder (which accounting firm shall
      then be referred to as the Accounting Firm hereunder). All fees and expenses
      of
      the Accounting Firm shall be borne solely by the Employer. Any Gross-Up Payment,
      as determined pursuant to this Subsection 4.3.6, shall be paid by the Employer
      to the Executive within five days of the receipt of the Accounting Firm’s
      determination. Any determination by the Accounting Firm shall be binding upon
      the Employer and the Executive. As a result of the uncertainty in the
      application of Section 4999 of the Code at the time of the initial determination
      by the Accounting Firm hereunder, it is possible that Gross-Up Payments which
      will not have been made by the Employer should have been made (“Underpayment”),
      consistent with the calculations required to be made hereunder. In the event
      that the Employer exhausts its remedies pursuant to paragraph (iv) below and
      the
      Executive thereafter is required to make a payment of any Excise Tax, the
      Accounting Firm shall determine the amount of the Underpayment that has occurred
      and any such Underpayment shall be promptly paid by the Employer to or for
      the
      benefit of the Executive.

     

    (iv) Notification.
      The
      Executive shall notify the Employer in writing of any claim by the Internal
      Revenue Service that, if successful, would require the payment by the Employer
      of the Gross-Up Payment. Such notification shall be given as soon as practicable
      but no later than ten business days after the Executive is informed in writing
      of such claim. The Executive shall apprise the Employer of the nature of such
      claim and the date on which such claim is requested to be paid. The Executive
      shall not pay such claim prior to the expiration of the 30-day period following
      the date on which the Executive gives such notice to the Employer (or such
      shorter period ending on the date that any payment of taxes with respect to
      such
      claim is due). If the Employer notifies the Executive in writing prior to the
      expiration of such period that the Employer desires to contest such claim,
      the
      Executive shall:

     

    
      
        
           

        

        
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    (A) give
      the
      Employer any information reasonably requested by the Employer relating to such
      claim; 

     

    (B) take
      such
      action in connection with contesting such claim as the Employer shall reasonably
      request in writing from time to time, including, without limitation, accepting
      legal representation with respect to such claim by an attorney reasonably
      selected by the Employer; 

     

    (C) cooperate
      with the Employer in good faith in order effectively to contest such claim;
      and

     

    (D) permit
      the Employer to participate in any proceedings relating to such
      claim;

     

    provided,
      however, that
      the
      Employer shall bear and pay directly all costs and expenses (including
      additional interest and penalties) incurred in connection with such contest
      and
      shall indemnify and hold the Executive harmless, on an after-tax basis, for
      any
      Excise Tax or income tax (including interest and penalties) imposed as a result
      of such representation and payment of costs and expenses. Without limitation
      on
      the foregoing provisions of this paragraph (iv), the Employer shall control
      all
      proceedings taken in connection with such contest and, at its sole discretion,
      may pursue or forgo any and all administrative appeals, proceedings, hearings
      and conferences with the applicable taxing authority in respect of such claim
      and may, at its sole discretion, either direct the Executive to pay the tax
      claimed and sue for a refund or contest the claim in any permissible manner,
      and
      the Executive agrees to prosecute such contest to a determination before any
      administrative tribunal, in a court of initial jurisdiction and in one or more
      appellate courts, as the Employer shall determine; provided,
      however, that
      if
      the Employer directs the Executive to pay such claim and sue for a refund,
      the
      Employer shall advance the amount of such payment to the Executive, on an
      interest-free basis and shall indemnify and hold the Executive harmless, on
      an
      after-tax basis, from any Excise Tax or income tax (including interest or
      penalties) imposed with respect to such advance or with respect to any imputed
      income in connection with such advance; and provided, further, that any
      extension of the statute of limitations relating to payment of taxes for the
      taxable year of the Executive with respect to which such contested amount is
      claimed to be due is limited solely to such contested amount. Furthermore,
      the
      Employer’s control of the contest shall be limited to issues with respect to
      which the Gross-Up Payment would be payable hereunder and the Executive shall
      be
      entitled to settle or contest, as the case may be, any other issue raised by
      the
      Internal Revenue Service or any other taxing authority.

     

    (v) Entitlement
      to Refund.
      If,
      after
      the receipt by the Executive of an amount advanced by the Employer pursuant
      to
      paragraph (iv) above, the Executive becomes entitled to receive any refund
      with
      respect to such claim, the Executive shall (subject to the Employer’s complying
      with the requirements of paragraph (iv)) promptly pay to the Employer the amount
      of such refund (together with any interest paid or credited thereon after taxes
      applicable thereto). If, after the receipt by the Executive of an amount
      advanced by the Employer pursuant to paragraph (iv), a determination is made
      that the Executive shall not be entitled to any refund with respect to such
      claim and the Employer does not notify the Executive in writing of its intent
      to
      contest such denial of refund prior to the expiration of 30 days after such
      determination, then such advance shall be forgiven and shall not be required
      to
      be repaid and the amount of such advance shall offset, to the extent thereof,
      the amount of Gross-Up Payment required to be paid.

     

    
      
        
           

        

        
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    (vi) Consent
      to Withholding.
      Notwithstanding any other provision of this Subsection 4.3.6, the Employer
      may,
      in its sole discretion, withhold and pay over to the Internal Revenue Service
      or
      any other applicable taxing authority, for the benefit of the Executive, all
      or
      any portion of the Gross-Up Payment, and the Executive hereby consents to such
      withholding.

     

    4.3.7 Immediate
      Payment of Annual Bonus.  As
      soon
      as technically possible following the Start Date, the Executive shall receive
      an
      immediate payment in cash of the Annual Bonus under the Foster Wheeler Annual
      Executive Short-Term Incentive Plan, or any successor plan, for the year in
      which the Change of Control takes place equal to the Annual Bonus the Executive
      received (if any) for the calendar year immediately preceding the year in which
      the Change of Control took place. If it is determined, after the end of the
      year
      in which the Change of Control took place, that the amount of the Annual Bonus
      that is actually due to the Executive for such year under the Foster Wheeler
      Annual Executive Short-Term Incentive Plan, or any successor plan, exceeds
      the
      amount paid pursuant to the preceding sentence, the excess shall be paid to
      the
      Executive no
      later
      than the fifteenth day of the third month of the fiscal year next following
      the
      fiscal year for which this Annual Bonus is paid under this Section
      4.3.7.
      It is
      expressly agreed that the overall Annual Bonus paid for the year in which the
      Change of Control takes place in no event shall be lower than the Recent Annual
      Bonus.

     

    4.4 No
      Mitigation.
      Upon
      termination of the Executive’s employment with the Employer, the Executive shall
      be under no obligation to seek other employment or otherwise mitigate the
      obligations of the Employer under this Agreement.

     

    
      	
              5.

            	
              Protection
                of Confidential Information; Non-Competition and
                Non-Solicitation.

            

    

     

    5.1 Confidential
      Information.
      The
      Executive acknowledges that the Executive’s services will be unique, that they
      will involve the development of Employer-subsidized relationships with key
      customers, suppliers, and service providers as well as with key Employer
      employees and that the Executive’s work for the Employer will give the Executive
      access to highly confidential information not available to the public or
      competitors, including trade secrets and confidential marketing, sales, product
      development and other data and information which it would be impracticable
      for
      the Employer to effectively protect and preserve in the absence of this
      Section 5 and the disclosure or misappropriation of which could materially
      adversely affect the Employer. Accordingly, the Executive agrees:

     

    5.1.1 except
      in
      the course of performing the Executive’s duties provided for in
      Section 1.1, not at any time, whether before, during or after the
      Executive’s employment with the Employer, to divulge to any other entity or
      person any confidential information acquired by the Executive concerning the
      Employer’s or its subsidiaries’ or affiliates’ financial affairs or business
      processes or methods or their research, development or marketing programs or
      plans, or any other of its or their trade secrets. The foregoing prohibitions
      shall include, without limitation, directly or indirectly publishing (or
      causing, participating in, assisting or providing any statement, opinion or
      information in connection with the publication of) any diary, memoir, letter,
      story, photograph, interview, article, essay, account or description (whether
      fictionalized or not) concerning any of the foregoing, publication being deemed
      to include any presentation or reproduction of any written, verbal or visual
      material in any communication medium, including any book, magazine, newspaper,
      theatrical production or movie, or television or radio programming or
      commercial. In the event that the Executive is requested or required to make
      disclosure of information subject to this Section 5.1.1 under any court
      order, subpoena or other judicial process, then, except as prohibited by law,
      the Executive will promptly notify the Employer, take all reasonable steps
      requested by the Employer to defend against the compulsory disclosure and permit
      the Employer to control with counsel of its choice any proceeding relating
      to
      the compulsory disclosure. The Executive acknowledges that all information,
      the
      disclosure of which is prohibited by this section, is of a confidential and
      proprietary character and of great value to the Employer and its subsidiaries
      and affiliates; 

     

    
      
        
           

        

        
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    5.1.2 to
      deliver promptly to the Employer on termination of the Executive’s employment
      with the Employer, or at any time that the Employer may so request, all
      confidential memoranda, notes, records, reports, manuals, drawings, software,
      electronic/digital media records, blueprints and other documents (and all copies
      thereof) relating to the Employer’s (and its subsidiaries’ and affiliates’)
      business and all property associated therewith, which the Executive may then
      possess or have under the Executive’s control.

     

    5.2 Employer
      Protections.
      In
      consideration of the Employer’s entering into this Agreement, the Executive
      agrees that at all times during the Term and thereafter for the time period
      described hereinbelow, the Executive shall not, directly or indirectly, for
      Executive or on behalf of or in conjunction with, any other person, company,
      partnership, corporation, business, group, or other entity (each, a
“Person”):

     

    5.2.1 Non-Competition:
      until
      the
      first anniversary of the Termination Date, engage in any activity for or on
      behalf of a Competitor, as director, employee, shareholder (excluding any such
      shareholding by the Executive of no more than 5% of the shares of a
      publicly-traded company), consultant or otherwise, which is the same as or
      similar to activity in which Executive engaged at any time during the last
      two
      (2) years of employment by the Employer; or

     

    5.2.2 Non-Solicitation:
      until
      the
      second anniversary of the Termination Date: 

     

    (i) Of
      Employees:
      call
      upon
      any Person who is, at such Termination Date, engaged in activity on behalf
      of
      the Employer or any subsidiary or affiliate of the Employer for the purpose
      or
      with the intent of enticing such Person to cease such activity on behalf of
      the
      Employer or such subsidiary or affiliate; or 

     

    (ii) Of
      Customers:
      solicit,
      induce, or attempt to induce any customer of the Employer to cease doing
      business in whole or in part with or through the Employer or a subsidiary or
      affiliate, or to do business with any Competitor.

     

    For
      purposes of this Agreement, “Competitor” means a person or entity who or which
      is engaged in a material line of business conducted by the Employer. For
      purposes of this Agreement, “a material line of business conducted by the
      Employer” means an activity of the Employer generating gross revenues to that
      entity of more than twenty-five million dollars (US$25,000,000) in the
      immediately preceding fiscal year of that entity.

     

    5.3 Remedies
      and Injunctive Relief.
      If
      the
      Executive commits a breach or threatens to breach any of the provisions of
      Section 5.1 or 5.2 hereof, the Employer shall have the right and remedy to
      have the provisions of this Agreement specifically enforced by injunction or
      otherwise by any court having jurisdiction, it being acknowledged and agreed
      that any such breach will cause irreparable injury to the Employer in addition
      to money damage and that money damages alone will not provide a complete or
      adequate remedy to the Employer, it being further agreed that such right and
      remedy shall be in addition to, and not in lieu of, any other rights and
      remedies available to the Employer under law or in equity.

     

    
      
        
           

        

        
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    5.4 Severability.
      If any
      of the covenants contained in Sections 5.1, 5.2 or 5.3, or any part
      thereof, hereafter are construed to be invalid or unenforceable, the same shall
      not affect the remainder of the covenant or covenants, which shall be given
      full
      effect, without regard to the invalid portions.

     

    5.5 Extension
      of Term of Covenants Following Violation.
      The
      period during which the prohibitions of Section 5.2 are in effect shall be
      extended by any period or periods during which the Executive is in violation
      of
      Section 5.2.

     

    5.6 Choice
      of Forum and Modification by Court.
      Notwithstanding the provisions of Section 9.1, only with specific respect to
      any
      of the covenants contained in Sections 5.1 and 5.2, or any part thereof, it
      is
      agreed that any court anywhere in the world has jurisdiction to hear those
      particular issues. If any of the covenants contained in Sections 5.1 and 5.2
      are
      held to be unenforceable, the parties agree that the court making such
      determination shall have the power to revise or modify such provision to make
      it
      enforceable to the maximum extent permitted by applicable law and, in its
      revised or modified form, said provision shall then be enforceable.

     

    5.7 Modification
      by One Court Not to Affect Covenants in Another Country.
      The
      parties hereto intend to and hereby confer jurisdiction only to enforce the
      specific covenants contained in Sections 5.1 and 5.2 upon the courts of any
      country within the geographical scope of such covenants. In the event that
      the
      courts of any one or more of such countries hold such covenants wholly
      unenforceable by reason of the breadth of such covenants or otherwise, it is
      the
      intention of the parties’ hereto that such determination not bar or in any way
      affect the Employer’s right to the relief provided above in the courts of any
      other countries within the geographical scope of such covenants as to breaches
      of such covenants in such other respective jurisdictions, the above covenants
      as
      they relate to each country being for this purpose severable into diverse and
      independent covenants.

     

    
      	
              6.

            	
              Intellectual
                Property.

            

    

     

    6.1 Employer’s
      Rights.
      Notwithstanding
      and without limiting the provisions of Section 5, the Employer shall be the
      sole owner of all the products and proceeds of the Executive’s services
      hereunder, including, but not limited to, all materials, ideas, concepts,
      formats, suggestions, developments, arrangements, packages, programs and other
      intellectual properties that the Executive may acquire, obtain, develop or
      create in connection with or during the Term, free and clear of any claims
      by
      the Executive (or anyone claiming under the Executive) of any kind or character
      whatsoever (other than the Executive’s right to receive payments hereunder), the
      Executive shall, at the request of the Employer, execute such assignments,
      certificates or other instruments as the Employer may from time to time deem
      necessary or desirable to evidence, establish, maintain, perfect, protect,
      enforce or defend its right, title or interest in or to any such
      properties.

     

    
      
        
           

        

        
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              7.

            	
              Indemnification.

            

    

     

    7.1 General
      Rule.
      In
      addition to any rights to indemnification to which the Executive is entitled
      under the Employer’s charter and by-laws, as the case may be, to the extent
      permitted by applicable law, the Employer will indemnify, from the assets of
      the
      Employer supplemented by insurance in an amount determined by the Employer,
      the
      Executive at all times, during and after the Term, and, to the maximum extent
      permitted by applicable law, shall pay the Executive’s expenses (including
      reasonable attorneys’ fees and expenses, which shall be paid in advance by the
      Employer as incurred, subject to recoupment in accordance with applicable law)
      in connection with any threatened or actual action, suit or proceeding to which
      the Executive may be made a party, brought by any shareholder of the Employer,
      directly or derivatively or by any third party by reason of any act or omission
      or alleged act or omission in relation to any affairs of the Employer, or any
      subsidiary or affiliate of the Employer of the Executive as an officer, director
      or employee of the Employer or of any subsidiary or affiliate of the Employer.
      The Employer shall use its best efforts to maintain during the Term and
      thereafter insurance coverage sufficient in the determination of the Employer
      to
      satisfy any indemnification obligation of the Employer arising under this
      Section 7.

     

    
      	
              8.

            	
              Notices.

            

    

     

    8.1 To
      the Employer.
      All
      notices, requests, consents and other communications required or permitted
      to be
      given hereunder shall be in writing and shall be deemed to have been duly given
      if delivered personally, one day after sent by overnight courier or three days
      after mailed first class, postage prepaid, by registered or certified mail,
      as
      follows (or to such other address as either party shall designate by notice
      in
      writing to the other in accordance herewith):

     

    If
      to the
      Employer, to:

     

    Foster
      Wheeler Ltd.
Perryville
      Corporate Park
Clinton,
      NJ 08809-4000
Attention:
      Executive Vice President, General Counsel and Secretary

     

    8.2 To
      the Executive.
      If
      to the
      Executive, to the Executive’s principal residence as reflected in the records of
      the Employer.

     

    
      	
              9.

            	
              General.

            

    

     

    9.1 Governing
      Law.
      This
      Agreement shall be governed by and construed and enforced in accordance with
      the
      laws of the State of New Jersey applicable to agreements made between residents
      thereof and to be performed entirely in New Jersey. 

     

    9.2 Headings.
      The
      section headings contained herein are for reference purposes only and shall
      not in any way affect the meaning or interpretation of this
      Agreement.

     

    9.3 Entire
      Agreement.
      This
      Agreement sets forth the entire agreement and understanding of the parties
      relating to the subject matter hereof, and supersedes all prior agreements,
      arrangements and understandings, written or oral, relating to the subject matter
      hereof. No representation, promise or inducement has been made by either party
      that is not embodied in this Agreement, and neither party shall be bound by
      or
      liable for any alleged representation, promise or inducement not so set
      forth.

     

    9.4 Assignability. 

     

    9.4.1 Nonassignability
      by Executive.
      This
      Agreement, and the Executive’s rights and obligations hereunder, may not be
      assigned by the Executive, nor may the Executive pledge, encumber or anticipate
      any payments or benefits due hereunder, by operation of law or otherwise.

     

    
      
        
           

        

        
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    9.4.2 Assignability
      by the Employer.
      The
      Employer may assign its rights, together with its obligations,
      hereunder:

     

    (i) to
      any
      affiliate; or 

     

    (ii) to
      a
      third party in connection with any sale, transfer or other disposition of all
      or
      substantially all of any business to which the Executive’s services are then
      principally devoted; 

     

    provided,
      however,
      that no
      assignment pursuant to this paragraph 9.4.2 shall relieve the Employer from
      its
      obligations hereunder to the extent the same are not timely discharged by such
      assignee.

     

    9.4.3 Assumption
      of Agreement by Successors.
      The
      Employer will require any successor (whether direct or indirect, by purchase,
      merger, consolidation or otherwise) to all or substantially all of the business
      and/or assets of the Employer to assume expressly and agree to perform this
      Agreement in the same manner and to the same extent that the Employer would
      be
      required to perform it if no such succession had taken place.

     

    9.5 Survival.
      The
      respective rights and obligations of the parties hereunder shall survive any
      termination of this Agreement or the Term to the extent necessary to the
      intended preservation of such rights and obligations.

     

    9.6 Amendment.
      This
      Agreement may be amended, modified, superseded, canceled, renewed or extended
      and the terms or covenants hereof may be waived, only by a written instrument
      executed by the parties hereto, or in the case of a waiver, by the party waiving
      compliance. The failure of either party at any time or times to require
      performance of any provision hereof shall in no manner affect the right at
      a
      later time to enforce the same. No waiver by either party of the breach of
      any
      term or covenant contained in this Agreement, whether by conduct or otherwise,
      in any one or more instances, shall be deemed to be, or construed as, a further
      or continuing waiver of any such breach, or a waiver of the breach of any other
      term or covenant contained in this Agreement.

     

    9.7 Counterparts.
      This
      Agreement may be executed in two or more counterparts, each of which shall
      he
      deemed to be an original but all of which together will constitute one and
      the
      same instrument.

     

    9.8 Acknowledgement
      of Ability to Have Counsel Review.
      The
      parties acknowledge that this Agreement is the result of arm’s-length
      negotiations between sophisticated parties each afforded the opportunity to
      utilize representation by legal counsel. Each and every provision of this
      Agreement shall be construed as though both parties participated equally in
      the
      drafting of same, and any rule of construction that a document shall be
      construed against the drafting party shall not be applicable to this
      Agreement.

     

    
      
        
           

        

        
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              10.

            	
              Dispute
                Resolution.

            

    

     

    10.1 Arbitration.
      Subject
      to the rights of the Employer pursuant to Section 5.3 above, any
      controversy, claim or dispute arising out of or relating to this Agreement,
      the
      breach thereof, or the Executive’s employment by the Employer shall be settled
      by arbitration with three arbitrators. The arbitration will be administered
      by
      the American Arbitration Association in accordance with its National Rules
      for
      Resolution of Employment Disputes. The arbitration proceeding shall be
      confidential, and judgment on the award rendered by the arbitrator may be
      entered in any court having jurisdiction. Any such arbitration shall take place
      in the Clinton, New Jersey area, or in any other mutually agreeable location.
      In
      the event any judicial action is necessary to enforce the arbitration provisions
      of this Agreement, sole jurisdiction shall be in the federal and state courts,
      as applicable, located in New Jersey. Any request for interim injunctive relief
      or other provisional remedies or opposition thereto shall not be deemed to
      be a
      waiver or the right or obligation to arbitrate hereunder. The arbitrator shall
      have the discretion to award reasonable attorneys’ fees, costs and expenses to
      the prevailing party. To the extent a party prevails in any dispute arising
      out
      of this Agreement or any of its terms and provisions, all reasonable costs,
      fees
      and expenses relating to such dispute, including the parties’ reasonable legal
      fees, shall be borne by the party not prevailing in the resolution of such
      dispute, but only to the extent that the arbitrator or court, as the case may
      be, deems reasonable and appropriate given the merits of the claims and defenses
      asserted.

     

    
      	
              11.

            	
              Free
                to Contract.

            

    

     

    11.1 Executive
      Representations and Warranty.
      The
      Executive represents and warrants to the Employer that Executive is able freely
      to accept engagement and employment by the Employer as described in this
      Agreement and that there are no existing agreements, arrangements or
      understandings, written or oral, that would prevent Executive from entering
      into
      this Agreement, would prevent Executive or restrict Executive in any way from
      rendering services to the Employer as provided herein during the Term or would
      be breached by the future performance by the Executive of Executive’s duties
      hereunder. The Executive also represents and warrants that no fee, charge or
      expense of any sort is due from the Employer to any third person engaged by
      the
      Executive in connection with Executive’s employment by the Employer hereunder,
      except as disclosed in this Agreement.

     

    
      	
              12.

            	
              Subsidiaries
                and Affiliates.

            

    

     

    12.1 Definitions.
      As
      used
      herein, the term “subsidiary” shall mean any corporation or other business
      entity controlled directly or indirectly by the Employer or other business
      entity in question, and the term “affiliate” shall mean and include any
      corporation or other business entity directly or indirectly controlling,
      controlled by or under common control with the Employer or other business entity
      in question.

     

    
      	
              13.

            	
              Code
                Section 409A Legal
                Requirement.

            

    

     

    13.1 Six
      Month Delay in Payment.
      Notwithstanding
      anything to the contrary in this Agreement, if the Executive constitutes a
      “specified employee” as defined and applied in Section 409A of the Code as of
      his Termination Date, to the extent any payment under this Agreement constitutes
      deferred compensation (after taking into account any applicable exemptions
      from
      Section 409A of the Code), and to the extent required by Section 409A of the
      Code, no payments due under this Agreement may be made until the earlier of:
      (i)
      the first day following the sixth month anniversary of Executive’s Termination
      Date, or (ii) the Executive’s date of death; provided, however, that any
      payments delayed during this six-month period shall be paid in the aggregate
      in
      a lump sum as soon as administratively practicable following the sixth month
      anniversary of the Executive’s Termination Date. For purposes of Section 409A of
      the Code, each “payment” (as defined by Section 409A of the Code) made under
      this Agreement shall be considered a “separate payment.” In addition, for
      purposes of Section 409A of the Code, the cash payments to facilitate
      post-termination medical and health coverage described in Sections 4.2.2(v)
      and
      4.3.2(iii) shall be deemed exempt from Section 409A of the Code to the full
      extent possible under the “short-term deferral” exemption of Treasury Regulation
§ 1.409A-1((b)(4) and (with respect to amounts paid no later than the
      second calendar year following the calendar year containing the Executive’s
      Termination Date) the “two-years/two-times” separation pay exemption of Treasury
      Regulation § 1.409A-1(b)(9)(iii), which are hereby incorporated by
      reference.

     

    
      
        
           

        

        
          21

          
            

          

        

        
           

        

      

    

    

    IN
      WITNESS WHEREOF,
      the
      parties have executed this Agreement as of the date first above
      written.

    

      
        	 	
                FOSTER
                  WHEELER LTD.

              
	 	 
	 	
                By:

              	
                /s/
                  Raymond J. Michovich

              
	 	
                Name:
                  Raymond J. Milchovich

              
	 	
                Title:
                  Chief Executive Officer

              
	 	 
	 	
                /s/
                  Umberto della Sala

              
	 	
                                    Umberto
                  della Sala

              

      

    

     

    
      
         

      

      
        22

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