Document:

Exhibit

Exhibit 10.43

JACOBS ENGINEERING GROUP INC.
MANAGEMENT INCENTIVE PLAN 
 (As Amended and Restated - effective November 19, 2015) 
 
Summary of the Program 
The purpose of the Jacobs Engineering Group Inc. Management Incentive Plan (the “Plan”) is to promote the success of Jacobs Engineering Group Inc. (“Jacobs”) and its subsidiaries (collectively referred to as the “Company”) by attracting and retaining highly qualified people who perform to the best of their abilities to achieve Company objectives and profitability.  The Plan is a sub-plan under Jacobs’ 1999 Stock Incentive Plan (the “1999 SIP”) with respect to the Company’s Named Executive Officers, as defined under Item 402 of Regulation S-K (each, an “Executive”).  Incentives awarded under the Plan to Executives shall be grants of Incentive Bonuses (as defined in the 1999 SIP) under the 1999 SIP pursuant to the terms thereof.
Eligibility and Participation
The Chief Executive Officer (“CEO”) of the Company shall automatically participate in the Plan for each fiscal year.  In addition to the CEO, those Executives, Presidents/Executive Vice Presidents or Senior Vice Presidents (or any of their functional equivalents) designated in writing by the Chief Executive Officer and the Human Resource and Compensation Committee (the “Committee”) of Jacobs’ Board of Directors, in their sole and absolute discretion, shall participate in the Plan.  Key managers (management level personnel who do not normally receive overtime compensation) designated in writing by the Committee, the Chief Executive Officer, the Executive Vice President, Chief Financial Officer, or the Senior Vice President, Global Human Resources, or their functional equivalents (collectively, the “Approving Group”) in their sole and absolute discretion shall participate in the Plan.  The CEO and other individuals designated as participants pursuant to this paragraph are the “Participants.”  Other than the CEO, no person is automatically entitled to participate in the Plan in any fiscal year and participation in the Plan during any fiscal year does not entitle a Participant to participate in the Plan or any other plan in the future. 
Incentive Formula
The Committee will determine the incentive formula in its sole and absolute discretion.  The incentive formula will be selected by the Committee and with respect to (i) Executives will be based on one or more of the Qualifying Performance Criteria (as defined in the 1999 SIP) and (ii) non-Executives any criteria selected by the Committee.  The incentive formula and additional terms and conditions applicable to the Plan will be set forth in documentation that is (a) not inconsistent with the terms and conditions of this Plan, (b) references this Plan and (c) approved by the Committee not later than 90 days after the commencement of each fiscal year.  The incentive formula are subject to change at any time during the fiscal year with respect to non-Executives and, with respect to Executives, the Committee may, to the extent consistent with Section 162(m), appropriately adjust any measurement of performance under a Qualifying Performance Criteria for any of the reasons set forth in Section 10(b) of the 1999 SIP.  The incentive formula need not be the same as to all Participants and the amount of a Participant’s potential incentive may be based on that Participant’s salary.  If a Participant moves from one level of designated participation to another during the fiscal year, the different weighting factors 

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Exhibit 10.43

and incentive formula, if any, will be applied to the salary earned at each level and prorated accordingly.
Special Provisions Applicable to Executives 
Notwithstanding anything in the Plan to the contrary, any amounts paid to an Executive under this Plan are intended to constitute performance-based compensation for purposes of Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”). The maximum incentive payable to an Executive under the Plan with respect to a fiscal year is 3.0 times the Executive’s salary, and, the maximum aggregate amount payable under the Plan to any Executive for any fiscal year is $5,000,000.  Salary for purposes of the foregoing sentence is the applicable Executive’s salary as of the beginning of the fiscal year for which incentives are being paid, unless the Executive is hired after the beginning of such fiscal year in which case salary shall be such Executive’s initial salary.  
Approvals 
Each award to an Executive, President/Executive Vice President, or Senior Vice President shall be approved by the Committee and each award to any other Participant shall be approved by one or more members of the Approving Group. 
Payment of Awards
An award shall be paid at such time or times as determined by the Committee in the Committee’s sole and absolute discretion; provided, however, that no incentive paid to an Executive shall be paid unless the Committee certifies in writing that the relevant Qualifying Performance Criteria and any other material terms established by the Committee have been satisfied as required by Section 162(m) of the Code.  The Committee may reduce any award up to the date of payment.  All payments are subject to federal, state, or local taxes. 
All awards shall be paid in full within 90 days of the close of the applicable fiscal year, except (i) Executive incentives that have not been certified by the Committee as required by this section, which shall be paid as soon as practicable following such certification and (ii) those deferred pursuant to the terms of a Company sponsored plan for which a Participant is eligible, which shall be paid pursuant to the terms of such plan. 
If an individual becomes a Participant in the Plan after the beginning of a fiscal year, his or her incentive will be prorated accordingly.  Except as set forth in the next sentence, to receive payment of an award, a Participant must be employed with the Company on the date each incentive award is paid.  If a Participant’s employment terminates for any reason before the payment date, all unpaid incentives are automatically forfeited unless (i) the determination is made to pay a pro-rated incentive in the sole and absolute discretion of the Committee; (ii) a Participant “retires” during the fiscal year, in which case the Participant will be eligible for a prorated payment; (iii) a Participant dies during the fiscal year, in which case, the Participant’s “beneficiary” will be eligible to receive payment equal to the Participant’s target incentive, prorated for the number of days worked during the fiscal year; or (iv) a Participant dies after the end of the fiscal year but before the payment date, in which case, the Participant’s “beneficiary” will be eligible to receive payment of the award. “Retires” means a Participant’s voluntary resignation from employment (i) at age 65 or older or (ii) at age 60 or older with 10 or more years of service with the Company.  “Beneficiary” means a Participant’s designated beneficiary for company-paid life insurance, or the Participant’s estate if none.
Modifications and Administration 

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Exhibit 10.43

This Plan shall be administered by the Committee which shall consist of at least two independent directors of the Company who satisfy the requirements of Section 162(m) of the Code.  The Committee shall have the sole and absolute discretion and authority to: (i) administer and interpret the Plan in accordance with Section 162(m) of the Code as appropriate; (ii) prescribe the terms and conditions of any awards granted under the Plan; (iii) adopt rules and guidelines for the administration of the Plan that are consistent with the Plan; and (iv) interpret, amend or revoke any such rules and guidelines.  The Committee may terminate the Plan at any time, for any and no reason, and may also amend the Plan in order to reduce the amount of any incentive payments at any time, for any or no reason.  The decisions and interpretations of the Committee and its delegates shall in every case be final and binding on all persons having an interest in the Plan and shall be afforded the maximum deference permitted by applicable law, shall be reviewed under an “abuse of discretion” standard of review, and shall be upheld as long as reasonable.  The Committee may designate the Secretary of the Company or any other Company employee to assist the Committee in the administration of the Plan, and may grant authority to such persons to execute Award Agreements or other documents entered into under the Plan on behalf of the Committee or the Company.  The Committee hereby delegates all of its discretion and authority under the Plan as to all non-Executive Participants to each other member of the Approving Group, each of which shall have all of the rights of the Committee as to such Participants; provided, however, that the Committee may act in lieu of such delegates.    

Claw-back
In the event of any Inaccurate Financial Statement, section 16 executive officers will be required to return to the Company on demand all incentive-based compensation payments made to them during the 3-year period preceding the date on which the Company is required to prepare an accounting restatement that are in excess of what would have been paid had such incentive-based compensation instead been determined under the accounting restatement.  An “Inaccurate Financial Statement” is any inaccurate financial statement due to material noncompliance by the Company with any financial reporting requirements under the securities laws.

Section 409A of the Code
It is intended that this Plan and any awards granted hereunder shall either be exempt from the requirements of, or else comply with the requirements of, Section 409A of the Code and any related regulations or other guidance promulgated with respect to such Section by the U.S. Department of the Treasury of the Internal Revenue Service.  Any provision that would cause any award granted hereunder to incur additional taxes under Section 409A of the Code shall have no force or effect unless and until amended to comply with Section 409A of the Code, which amendment may be retroactive to the extent permitted by Section 409A of the Code.

No Right to Employment, Reelection or Continued Service
Nothing in this Plan or an incentive granted hereunder shall interfere with or limit in any way the right of the Company to terminate any Participant’s employment, service on the Board of Directors or service for the Company at any time for any reason, or no reason, nor shall this Plan or an incentive granted hereunder confer upon any Participant any right to continue his or her employment or service for any specified period of time.  Neither this Plan nor any incentive 

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Exhibit 10.43

awarded hereunder shall constitute an employment contract between a Participant and the Company.

Unfunded Plan
The Plan is an unfunded plan.  Participants are and shall at all times be general creditors of the Company with respect to any incentive awards granted under the Plan, if any.

4Exhibit

Exhibit 10.44

JACOBS ENGINEERING GROUP INC.

RESTRICTED STOCK AGREEMENT

(Awarded Pursuant to the 1999 Stock Incentive Plan)

This Agreement is executed as of __________ ____, by and between JACOBS ENGINEERING GROUP INC. (the “Company”) and _________ (“Employee”) pursuant to the Jacobs Engineering Group Inc. 1999 Stock Incentive Plan (the “Plan”). Unless the context clearly indicates otherwise, capitalized terms used in this Agreement, to the extent they are defined in the Plan, have the same meaning as set forth in the Plan.

1.    Restricted Stock

Pursuant to the Plan, and in consideration for services rendered to the Company or to a Related Company, or for its benefit, the Company hereby issues, as of the above date (the “Award Date”) to Employee _________ shares of common stock of the Company (the “Restricted Stock”).

2.    Restrictions on Transfer

		
	(a)
	The Restricted Stock issued hereby shall be subject to the restrictions on transfer and obligation to surrender the Restricted Stock to the Company as set forth in the Agreement (referred to as the “Forfeiture Restrictions”).  The provisions of Section 13 of the Plan relating to the restrictions on transfers of Restricted Stock, including all amendments, revisions and modifications thereto as may hereafter be adopted, are hereby incorporated in this Agreement as if set forth in full herein.  Unless and until the relevant Forfeiture Restrictions have lapsed, Restricted Stock may not be sold, exchanged, transferred, pledged, hypothecated or otherwise disposed of and is not assignable or transferable by will or by the laws of descent and distribution or pursuant to a qualified domestic relations order.

		
	(b)
	In the event Employee ceases to be an employee of the Company for any reason including death and the Employee becoming disabled, the effect of such cessation upon the Restricted Stock shall be determined by reference to Schedule B of the Plan, which Schedule B is incorporated herein by this reference.  In the event of a Change in Control, except as otherwise set forth in the Plan (including Schedule B thereof), Restricted Stock shall remain outstanding and subject to the terms and conditions of the Plan and this Agreement.

		
	(c)
	The Forfeiture Restrictions shall lapse and be of no further force and effect with respect to twenty-five percent (25%) of the Restricted Stock on the first anniversary of the Award Date, twenty-five percent (25%) of the Restricted Stock on the second anniversary of the Award Date, twenty-five percent (25%) of the Restricted Stock on the third anniversary of the Award Date and the Forfeiture Restrictions for the remaining twenty-five percent (25%) of Restricted Stock awards shall lapse and be of no further force and effect on the fourth anniversary of the Award Date.

		
	(d)
	Employee has no rights, partial or otherwise in the Restricted Stock unless and until the respective Forfeiture Restrictions have lapsed.

Exhibit 10.44

3.    Legend

Any certificates evidencing the Restricted Stock to Employee hereunder shall contain the following legend:

“THE SHARES EVIDENCED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER AND THE OBLIGATION OF THE HOLDER OF THIS CERTIFICATE TO FORFEIT AND SURRENDER THE SHARES EVIDENCED BY THIS CERTIFICATE TO THE COMPANY UNDER CERTAIN CIRCUMSTANCES AS SET FORTH IN THE RESTRICTED STOCK AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER OF THIS CERTIFICATE, A COPY OF WHICH MAY BE OBTAINED FROM THE HOLDER OR AT THE PRINCIPAL OFFICE OF THE COMPANY.”

In addition, the Company may place such additional legends on such certificates as may be required by law and may place a stop transfer order on such certificates on the records of the transfer agent for the shares of the Company.

4.    Escrow

In order to enforce the Forfeiture Restrictions, the Company shall retain possession of the certificates evidencing the Restricted Stock so long as the respective Forfeiture Restrictions are in effect. When the Forfeiture Restrictions shall have expired as to any of the Restricted Stock, the Company will deliver the certificates for such shares to the Employee.

5.    Data Privacy

Employee understands that the Company and/or a Related Company may hold certain personal information about the Employee, including, but not limited to, Employee’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of Jacobs Common Stock or directorships held in the Company, details of all Awards or any other entitlement to shares of Jacobs Common Stock awarded, canceled, exercised, vested, unvested or outstanding in Employee’s favor, for the exclusive purpose of implementing, administering and managing the Plan (“Data”).  
Employee hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of Employee's personal data as described in this Agreement and any other Award materials by and among, as applicable, the Company and its Related Companies for the exclusive purpose of implementing, administering and managing Employee’s participation in the Plan.
Employee understands that Data will be transferred to the Company’s broker, administrative agents or such other stock plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan.  Employee understands that the recipients of the Data may be located in the United States or elsewhere, and that the recipients' country or countries in which such recipients reside or operate (e.g., the United States) may have different data privacy laws and protections than Employee’s country.  Employee understands that if he or she resides outside the United States, he or she may request a list with the names and addresses of any potential recipients of the Data by contacting his or her local human resources representative. Employee understands that Data will be held only as long as is necessary to implement, administer and manage Employee’s participation in the Plan.

Exhibit 10.44

6.    Payment of Withholding Taxes

Employee acknowledges that, regardless of any action taken by the Company or Related Companies or, if different, Employee’s employer (the “Employer”) the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to Employee’s participation in the Plan and legally applicable to Employee or deemed by the Company, Related Company or the Employer in its discretion to be an appropriate charge to Employee even if legally applicable to the Company, Related Company or the Employer (“Tax-Related Items”), is and remains Employee’s responsibility and may exceed the amount actually withheld by the Company, Related Company or the Employer. Employee further acknowledges and agrees that the Company or Related Company and/or the Employer may, if it so determines, offset any Employer tax liabilities deemed applicable to Employee by reducing the shares of Jacobs Common Stock otherwise deliverable to Employee upon the lapse of the Forfeiture Restrictions pursuant to this Agreement.  Employee further acknowledges that the Company, Related Company and/or the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Restricted Stock including, but not limited to, the grant, or lapsing of the Forfeiture Restrictions, the subsequent sale of shares of Jacobs Common Stock acquired pursuant to this Agreement and (2) do not commit to and are under no obligation to structure the terms of the Award or any aspect of the Restricted Stock to reduce or eliminate Employee’s liability for Tax-Related Items or achieve any particular tax result.  Further, if Employee is subject to Tax-Related Items in more than one jurisdiction between the Award Date and the date of any relevant taxable or tax withholding event, as applicable, Employee acknowledges that the Company, Related Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.  Prior to any relevant taxable or tax withholding event, as applicable, Employee agrees to make adequate arrangements satisfactory to the Company, Related Company and/or the Employer to satisfy all Tax-Related Items.  The Company may refuse to deliver the shares of Jacobs Common Stock to the Employee until the obligation for any Tax-Related Items due in connection with the Award has been satisfied.

Under no circumstances can the Company be required to withhold from the shares of Jacobs Common Stock that would otherwise be delivered to Employee upon lapse of the Forfeiture Restriction a number of shares having a total Fair Market Value that exceeds the amount of withholding taxes as determined by the Company.
 
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8.    Dividends and Voting Rights

Employee shall have the right to vote the Restricted Stock and to receive cash dividends thereon unless and until Employee forfeits any or all of such shares to the Company pursuant to the provisions of this Agreement. Any shares issued pursuant to a stock split or stock dividend with respect to the Restricted Stock shall be retained by the Company so long as any Forfeiture Restrictions are in effect and shall be subject to such Forfeiture Restrictions but shall be considered to have been issued on the Award Date.

9.    Employment

Employee shall not be deemed to have ceased to be employed by the Company (or any Related Company) for purposes of this Agreement by reason of Employee’s transfer to a Related Company (or to the Company or to another Related Company). 

Exhibit 10.44

The Committee may determine that, for purposes of this Agreement, Employee shall be considered as still in the employ of the Company or of the Related Company while on leave of absence. In the event Employee is permitted a leave of absence during the term of this Agreement, the Committee may, in its sole and absolute discretion, extend the time periods during which Restricted Stock is subject to Forfeiture Restrictions as set forth in Paragraph 2, above, to include the period of time Employee is on the leave of absence.

10.    Miscellaneous Provisions

This Agreement is governed in all respects by the Plan and applicable law. In the event of any inconsistency between the terms of the Plan and this Agreement, the terms of the Plan shall prevail. All terms defined in the Plan are used in this Agreement (whether or not capitalized) as so defined. Subject to the limitations of the Plan, the Company may, with the written consent of  Employee, amend this Agreement. Neither the grant nor award of an Incentive Award under the Plan constitutes an agreement of employment between the Employee and the Company or a Related Company.  The receipt of an Incentive Award does not constitute a right acquired by the recipient to any other form of compensation, or to any future benefit or compensation, or to participate in any other benefit plan or program sponsored by the Company or Related Company, or to receive additional Incentive Awards under the Plan in the future.  This Agreement shall impose no obligation on the Company or any of its Related Companies to employ Employee for any period. This Agreement shall be construed, administered and enforced according to the laws of the State of California.

11.    Code Section 409A

It is intended that the award of Restricted Stock pursuant to this Agreement shall not constitute a “deferral of compensation” within the meaning of Section 409A of the Code and, as a result, shall not be subject to the requirements of Section 409A. The Agreement is to be interpreted in a manner consistent with this intention. Notwithstanding any other provision in this Agreement, the Agreement may not be modified in a manner that would cause the award of Restricted Stock to become subject to Section 409A of the Code.

12.  Clawback

Employee agrees that if Employee is or becomes a section 16 executive officer of the Company, in the event of any Inaccurate Financial Statement, Employee will return to the Company on demand all incentive-based compensation payments (whether under this Agreement, the Plan or otherwise) made to Employee during the 3-year period preceding the date on which the Company is required to prepare an accounting restatement that are in excess of what would have been paid had such incentive-based compensation instead been determined under the accounting restatement (the “Payments”).  In addition, Employee agrees to application of any clawback, forfeiture, recoupment, or similar requirement required to apply to incentive-based compensation granted to Employee under any current or future applicable law or listing standard or regulatory body requirement.  An “Inaccurate Financial Statement” is any inaccurate financial statement due to material noncompliance by the Company with any financial reporting requirements under the securities laws.

13.    Agreement of Employee

By signing below or electronically accepting the Award, Employee:  (1) agrees to the terms and conditions of this Agreement; (2) confirms receipt of a copy of the Plan and all amendments and supplements thereto; and (3) appoints the Secretary of the Company and each Assistant Secretary of the Company as Employee’s true and lawful attorney-in-fact, with full power of substitution in the 

Exhibit 10.44

premises, granting to each full power and authority to do and perform any and every act whatsoever requisite, necessary, or proper to be done, on behalf of Employee which, in the opinion of such attorney-in-fact, is necessary to effect forfeiture of Restricted Stock to the Company, or the delivery of the Jacobs Common Stock to Employee, in accordance with the terms and conditions of this Agreement.

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date set forth above.

    
JACOBS ENGINEERING GROUP INC.            By: 

                
 Steven J. Demetriou, President & Chief Executive Officer

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