Document:

<PAGE>

                                                                   EXHIBIT 10.14

                                 FLUOR SPECIAL
                           EXECUTIVE INCENTIVE PLAN

                            As Amended and Restated
                          Effective December 6, 1994
<PAGE>

                                   ARTICLE I
                                  DEFINITIONS

Sec. 1.1  DEFINITIONS
          -----------

   As used herein, the following terms shall have the meanings hereinafter set
forth unless the context clearly, indicates to the contrary:

   (a) "Awards" shall mean Long-Term Incentive Awards, Performance Incentive
       Awards and Restricted Unit Awards as provided herein.

   (b) "Board" shall mean the Board of Directors of the Company.

   (c) "Change of Control" of the Company shall be deemed to have occurred if,
       (i) a third person, including a 'group' as defined in Section 13(d)(3) of
       the Securities Exchange Act of 1934, acquires shares of the Company
       having twenty-five percent or more of the total number of votes that may
       be cast for the election of directors of the Company; or (ii) as the
       result of any cash tender or exchange offer, merger or other business
       combination, or any combination of the foregoing transactions (a
       "Transaction"), the persons who were directors of the Company before the
       Transaction shall cease to constitute a majority of the Board of the
       Company or any successor to the Company.

   (d) "Committee" shall mean the Organization and Compensation Committee of the
       Board.

   (e) "Company" shall mean Fluor Corporation.

   (f) "Eligible Employee" shall mean an employee who is an officer of the
       Company or any Subsidiary or who is a member of the Executive Management
       Team of the Company and its Subsidiaries.

   (g) "Executive Management Team" shall mean those employees who, at the time
       of the making of an Award hereunder, have been determined to be eligible
       to participate in the Fluor Corporation and Subsidiaries Executive
       Incentive Compensation Program or in other similar management incentive
       compensation programs of the Company or a Subsidiary.

   (h) "Fair Market Value" shall mean the average of the highest price and the
       lowest price per share at which the Stock is sold in the regular way on
       the New York Stock Exchange on the day such value is to be determined
       hereunder or, in the absence of any reported sales on such day, the first
       preceding day on which there were such sales.

                                       1
<PAGE>

   (i) "Grantee" shall mean an Eligible Employee to whom Awards have been
       granted hereunder.

   (j) "Long-Term Incentive Award" shall mean amounts awarded pursuant to
       Article V hereof.

   (k) "Performance Incentive Award" shall mean amounts awarded pursuant to
       Article VI hereof.

   (l) "Plan" shall mean the Fluor Special Executive Incentive Plan, the terms
       of which are set forth herein.

   (m) "Restricted Unit Award" shall mean amounts awarded pursuant to Article
       VII hereof.

   (n) "Return on Average Shareholders' Equity" shall mean, for any fiscal year,
       the percentage amount reported as "Return on Average Shareholders Equity"
       in the "Highlights" section of the Company's Annual Report to
       Stockholders for such fiscal year.

   (o) "Stock" shall mean the common stock of the Company or, in the event that
       the outstanding shares of Stock are hereafter changed into or exchanged
       for shares of a different stock or securities of the Company or some
       other corporation, such other stock or securities.

   (p) "Subsidiary" shall mean any corporation, the majority of the outstanding
       capital stock of which is owned, directly or indirectly, by the Company.

   (q) "Ten Year Treasury Yield" shall mean, for any fiscal period, the daily
       average percent per annum yield for U. S. Government Securities - 10 year
       Treasury constant maturities, as published in the Federal Reserve
       statistical release or any successor publication.

                                  ARTICLE II
                                   THE PLAN

Sec. 2.1  NAME
          ----
This plan shall be known as the "Fluor Special Executive Incentive Plan".

Sec. 2.2  PURPOSE
          -------

     The purpose of the Plan is to advance the interests of the Company and its
shareholders by providing Eligible Employees who can directly and significantly
influence the profits of the

                                       2
<PAGE>

Company and therefore the market value of its Stock with two forms of cash
incentive compensation (Long-Term Incentive Awards and Performance Incentive
Awards) which are based upon the attainment of specified performance objectives
and with another form of cash compensation (Restricted Unit Awards) which is
designed to compensate for the income and employment tax withholding arising
from the lapse of restrictions on shares of restricted stock granted to such
Eligible Employees. Restricted Unit Awards are intended to encourage executive
stock ownership by eliminating the need to dispose of a portion of any newly
vested restricted shares to pay the withholding amounts.

Sec. 2.3  EFFECTIVE DATE AND DURATION
          ---------------------------

     The Plan shall become effective as of April 27, 1987. The Awards granted
hereunder must be awarded on or before October 31, 1999.

                                  ARTICLE III
                                 PARTICIPANTS

Sec. 3.1  ELIGIBILITY
          -----------

     Any Eligible Employee of the Company or its Subsidiaries shall be eligible
to participate in the Plan; provided, however, that no member of the Committee
shall be eligible to participate.

                                  ARTICLE IV
                                ADMINISTRATION

Sec. 4.1  DUTIES AND POWERS OF COMMITTEE
          ------------------------------

     The Plan shall be administered by the Committee. Subject to the express
provisions of the Plan, the Committee shall have sole discretion and authority
to determine from among Eligible Employees those to whom and the time or times
at which Awards may be granted, the amount of such Awards and the terms and
conditions upon which such Awards shall become earned and payable. Subject to
the express provisions of the Plan, the Committee shall also have complete
authority to interpret the Plan, to prescribe, amend and rescind rules and
regulations relating to it, and to make all other determinations necessary or
advisable in the administration of the Plan.

Sec. 4.2  MAJORITY RULE
          -------------

     A majority of the members of the Committee shall constitute a quorum, and
any action taken by a majority present at a meeting at which a quorum is present
or any action taken without a meeting evidenced by a writing executed by a
majority of the whole Committee shall constitute the action of the Committee.

                                       3
<PAGE>

Sec. 4.3  COMPANY ASSISTANCE
          ------------------

     The Company shall supply full and timely information to the Committee on
all matters relating to eligible employees, their employment, death, retirement,
disability or other termination of employment, and such other pertinent facts as
the Committee may require. The Company shall furnish the Committee with such
clerical and other assistance as is necessary in the performance of its duties.

                                   ARTICLE V
                          LONG-TERM INCENTIVE AWARDS

Sec. 5.1  LONG-TERM INCENTIVE AWARD GRANT AND AGREEMENT
          ---------------------------------------------

     Each Long-Term Incentive Award made hereunder shall be evidenced by minutes
of a meeting or the written consent of the Committee and by a written Agreement
dated as of the date of grant and executed by the Company and the Grantee which
Agreement shall set forth such terms and conditions as may be determined by the
Committee consistent with the Plan.

Sec. 5.2  DETERMINATION OF LONG-TERM INCENTIVE AWARDS
          -------------------------------------------

In advance of the granting each Long-Term Incentive Award hereunder the
Committee shall:

   (a) Establish the specific threshold, target and maximum earnings level
       (which may be characterized either in terms of net earnings or earnings
       excluding certain items such as interest, taxes, depreciation or
       amortization) which must be attained over a three fiscal year period in
       order for such Award (or portion thereof) to become earned by the Grantee
       and payable by the Company; and

   (b) Establish a graded series of Award levels which shall designate the
       amount to be paid to Grantees at each such level if either the threshold,
       target or maximum earnings level is achieved, and assign an Award grade
       level for each Grantee. If the threshold target is not achieved, no Award
       will be payable to the Grantee. If the maximum target or more is
       achieved, then the Award shall be the maximum Award amount for the
       Grantee's grade level. If an earnings amount between the threshold and
       target earnings level is achieved, then the amount of the Award shall be
       corresponding prorata amount between the threshold Award amount and the
       target Award amount. If an earnings amount between the target level and
       maximum earnings level is achieved, then the amount of the Award shall be
       the corresponding prorata amount between the target Award amount and the
       maximum Award amount. The maximum amount of any Award shall be
       $600,000.00.

                                       4
<PAGE>

Sec. 5.3  EFFECT OF DEATH OR OTHER TERMINATION OF EMPLOYMENT
          --------------------------------------------------

     If, prior to the date on which any Long-Term Incentive Award becomes earned
and payable, the Grantee's employment with the Company or its Subsidiaries shall
be terminated by the Company or Subsidiary with or without cause, or by the act
of the Grantee, then the Grantee's rights with respect to that portion of the
Long-Term Incentive Award which has not been earned as of the date of such
termination shall immediately terminate and all rights thereunder shall cease;
provided, however, that if such termination of employment shall occur as a
result of the Grantee's death or permanent and total disability, as determined
in accordance with applicable Company personnel policies, or if the Grantee's
employment with the Company or its Subsidiaries shall be terminated within two
years after a Change of Control of the Company and such termination occurs prior
to a date on which a Long-Term Incentive Award would have become earned and
payable, such Award shall become earned and payable in accordance with its
original terms and conditions notwithstanding such termination.

                                  ARTICLE VI
                         PERFORMANCE INCENTIVE AWARDS

Sec. 6.1  PERFORMANCE INCENTIVE AWARD GRANT AND AGREEMENT
          -----------------------------------------------

     Each Award made hereunder shall be evidenced by minutes of a meeting or the
written consent of the Committee and by a written Agreement dated as of the date
of grant and executed by the Company and the Grantee which Agreement shall set
forth such terms and conditions as may be determined by the Committee consistent
with the Plan.

Sec. 6.2  CONDITIONS OF PERFORMANCE INCENTIVE AWARDS
          ------------------------------------------

     In granting each Performance Incentive Award hereunder the Committee shall:
     (a) Establish minimum, target and maximum amounts which may become earned
         by the Grantee and payable by the Company; and
     (b) Establish the period over which the performance of the Grantee and that
         of his operating unit will be measured, as well as the period for which
         the Grantee must remain in the employ of the Company or its
         subsidiaries in order for it to subsequently become earned by the
         Employee and payable by the Company.

Sec. 6.3  AMOUNT OF AWARD
          ---------------

     The amount of the Award shall be determined by the Company in its sole
discretion based upon its evaluation of the Grantee's performance and that of
his operating unit during the performance period established by the Committee.

                                       5
<PAGE>

Sec. 6.4  EFFECT OF DEATH OR OTHER TERMINATION OF EMPLOYMENT
          --------------------------------------------------

     If, prior to the date on which any Incentive Award becomes earned and
payable, the Grantee's employment with the Company or its Subsidiaries shall be
terminated by the Company or Subsidiary with or without cause, or by the act of
the Grantee, then the Grantee's rights with respect to that portion of the Award
which has not been earned as of the date of such termination shall immediately
terminate and all rights thereunder shall cease; provided, however, that if such
termination of employment shall occur as a result of the Grantee's death or
permanent and total disability, as determined in accordance with applicable
Company personnel policies, or if the Grantee's employment with the Company or
its Subsidiaries shall be terminated within two years after a Change of Control
of the Company and such termination occurs prior to a date on which an Award
would have become earned and payable, such Award shall become earned and payable
in accordance with its original terms and conditions notwithstanding such
termination.

                                  ARTICLE VII
                            RESTRICTED UNIT AWARDS

Sec. 7.1  RESTRICTED UNIT AWARD GRANT AND AGREEMENT
          -----------------------------------------

     Each Restricted Unit Award granted hereunder shall be evidenced by minutes
of a meeting or the written consent of the Committee and by a written Agreement
dated as of the date of grant and executed by the Company and the Grantee, which
Agreement shall set forth such terms and conditions as may be determined by the
Committee consistent with the Plan. A Restricted Unit Award of Restricted Units
may only be made in connection with an Award of Restricted Stock pursuant to the
1988 Fluor Executive Stock Plan. No Awards of Restricted Units may be made
during any fiscal year unless, for the preceding fiscal year, Return on Average
Shareholders' Equity exceeded the Ten Year Treasury Yield by more than three
percentage points.

Sec. 7.2  DETERMINATION OF AWARD AMOUNT
          -----------------------------

     In advance of the granting of each Restricted Unit Award hereunder the
Committee shall:

     (a) Establish various Award grade levels (which levels shall be the same as
         those established by the Committee for concurrent Awards of Restricted
         Stock made pursuant to the 1988 Fluor Executive Stock Plan) that shall
         designate the maximum number of Restricted Units which may be awarded
         annually to a Grantee in each Award grade level. The number of
         Restricted Units for each Award grade level shall be calculated by
         reference to the applicable federal and state income and employment
         withholding tax rates; and

     (b) Assign an Award grade level for each Grantee which shall correspond to
         the Award grade level assigned to such Grantee in connection with the
         concurrent granting to him of Restricted Stock pursuant to the 1988
         Fluor Executive Stock

                                       6
<PAGE>

         Plan. The Committee shall have the sole discretion and authority to
         make an Award of less than the maximum number of Units for a Grantee's
         assigned grade level or to make no Award at all to such Eligible
         Employee. In no event shall the total number of Restricted Units
         granted to any Eligible Employee in any fiscal year exceed 10,000.

Sec. 7.3  AWARD TERMS AND CONDITIONS
          --------------------------

     Each Restricted Unit shall have a value equal to the Fair Market Value on
the date that such Award, or portion thereof, becomes earned and payable. Each
award shall become earned and payable in ten equal increments on each of the ten
succeeding anniversary dates following the date of the Award, or upon such other
terms and conditions as may be determined by the Committee. The proceeds of each
Award shall be applied in payment of applicable federal and state income and
employment withholding taxes arising from the lapse of restrictions on the
related restricted stock and from such Award (or portion thereof) becoming
earned and payable, with the balance, if any, to be remitted to the Grantee. If
the outstanding shares of Stock of the Company are increased, decreased, or
exchanged for a different number or kind of shares or other securities, or if
additional shares or new or different shares or other securities are distributed
with respect to such shares of Stock or other securities, through merger,
consolidation, sale of all or substantially all of the property of the Company,
reorganization, recapitalization, reclassification, stock dividend, stock split,
reverse stock split or other distribution with respect to such shares of Stock
or other securities, an appropriate and proportionate adjustment may be made in
the number of Restricted Units subject to outstanding Awards. Such adjustments
will be made by the Committee, whose determination as to what adjustments will
be made and the extent thereof will be final, binding, and conclusive.

Sec. 7.4  EFFECT OF DEATH OR OTHER TERMINATION OF EMPLOYMENT
          --------------------------------------------------

     Except as otherwise established by the Committee in determining the terms
and conditions of a particular Restricted Units Award, if, prior to the date on
which the Restricted Units, or any portion thereof becomes earned and payable,
the Grantee's employment with the Company or its Subsidiaries shall be
terminated by the Company or Subsidiary with or without cause, or by the act of
the Grantee, then the Grantee's rights with respect to that portion of the Award
which has not been earned as of the date of such termination shall immediately
terminate and all rights thereunder shall cease.

                                 ARTICLE VIII
                TERMINATION, AMENDMENT AND MODIFICATION OF PLAN

Sec. 8.1  TERMINATION, AMENDMENT AND MODIFICATION OF PLAN
          -----------------------------------------------

     The Board may at any time, upon recommendation of the Committee, terminate,
and may at any time and from time to time and in any respect amend or modify,
the Plan; provided,

                                       7
<PAGE>

however, that no termination, amendment or modification of the Plan shall in any
manner affect any Awards theretofore granted under the Plan without the consent
of the Grantee.

                                  ARTICLE IX
                                 MISCELLANEOUS

Sec. 9.1  NONTRANSFERABILITY OF AWARDS
          ----------------------------

     No Awards granted hereunder shall be transferred by a Grantee otherwise
than by will or the laws of descent and distribution. During the lifetime of a
Grantee, such Awards shall be payable only to the Grantee.

Sec. 9.2  EMPLOYMENT
          ----------

     Nothing in the Plan or in any Awards granted hereunder shall confer upon
any employee the right to continue in the employ of the Company or any
Subsidiary.

Sec. 9.3  OTHER COMPENSATION PLANS
          ------------------------

     The adoption of the Plan shall not affect any stock option or incentive or
other compensation plans in effect for the Company or any Subsidiary, nor shall
the Plan preclude the Company from establishing any other forms of incentive or
other compensation for employees of the Company or any Subsidiary.

Sec. 9.4  PLAN BINDING ON SUCCESSORS
          --------------------------

     The Plan shall be binding upon the successors and assigns of the Company.

Sec. 9.5  SINGULAR, PLURAL GENDER
          -----------------------

     Whenever used herein, nouns in the singular shall include the plural, and
the masculine pronoun shall include the feminine gender.

Sec. 9.6  HEADINGS, ETC., NOT PART OF PLAN
          --------------------------------

     Headings of Articles and Sections hereof are inserted for convenience and
reference; they constitute no part of the Plan.

                                       8<PAGE>

                                                                   EXHIBIT 10.15

                               FLUOR CORPORATION

                     RETIREMENT PLAN FOR OUTSIDE DIRECTORS

                               SUMMARY OF TERMS

Eligibility              Outside Directors of Fluor Corporation who have not
                         previously served in the management of the Company or a
                         subsidiary, and who have served as a Director for a
                         total of six years, (i.e., the equivalent of two three
                         year terms) are eligible for retirement payments.

Payment Amount           An annual amount equivalent to the annual base retainer
                         in effect at the time of the Director's retirement.
                         This is currently $30,000 per year. Excluded are
                         meeting fees, Committee Chairman retainers, etc.

Payment Period           The annual amount will be payable quarterly beginning
                         at the age specified for retirement from the Board in
                         the Bylaws, (i.e., age 72). Payments will continue for
                         the life of the Director but not to exceed the number
                         of years of the Director's prior Board service.

Early Retirement         An Outside Director who leaves the Board prior to the
                         age for Board retirement may, with the approval of the
                         Executive Committee, receive benefits beginning at the
                         age for Board retirement, continuing thereafter for
                         life, not to exceed the period of prior Board service.

Disability               In the event of total disability while a Board member,
                         Outside Directors with six or more years Board service
                         are eligible to receive the retirement benefit
                         thereafter during the life of the Director, not to
                         exceed the period of prior Board service.

Death                    If the Director is survived by his spouse, benefits
                         shall continue to his spouse for two years beyond the
                         Director's death, not to exceed pre and post death
                         payments equivalent to the Director's total Board
                         service.

Administration           The Plan is administered by the Executive Committee of
                         the Board of Directors of Fluor Corporation

Effective Date           The Plan is effective May 1, 1992.
<PAGE>

                               FLUOR CORPORATION

                     RETIREMENT PLAN FOR OUTSIDE DIRECTORS
                     -------------------------------------

                                   ARTICLE I

                                 INTRODUCTION
                                 ------------

          1.1  Plan. This Plan is established by Fluor Corporation for the
               ----
benefit of Outside Directors of the Board of Fluor Corporation who retire from
the Board at any time on or after the Effective Date and meet the eligibility
requirements for becoming a Participant under the Plan.

          1.2  Authority.  The Plan shall be maintained according to the terms
               ---------
of this document, as it may be amended from time to time. The Executive
Committee of the Board shall have the sole authority to amend the Plan and to
resolve any dispute with respect to the interpretation and administration of the
Plan. The Plan shall be administered and interpreted by the Executive Committee.

                                  ARTICLE II

                                 DEFINITIONS
                                 -----------

          2.1  Definitions.  When used in this document, the following terms
               -----------
shall have the meaning assigned to them, unless the context clearly indicates
otherwise:

               (a)  Company means Fluor Corporation.
                    -------

               (b)  Board means the board of directors of the Company.
                    -----

               (c)  Executive Committee means the Executive Committee of the
                    -------------------
          Board of the Company.

               (d)  Outside Director means a member of the Board who is
                    ----------------
          neither a current nor a former management employee of the Company or
          any subsidiary of the Company.

               (e)  Participant  means an Outside Director who becomes
                    -----------
          eligible for retirement benefit payments under the Plan.

               (f)  Age for Board Retirement means the age for mandatory
                    ------------------------
          retirement of members of the Board as specified

                                       1
<PAGE>

         in the Bylaws of the Company, as applied to Outside Directors on the
         date of such Outside Directors' retirement from the Board.

                   (g) Plan means the Fluor Corporation Retirement Plan for
                       ----
         Outside Directors, as set forth in this document and as amended from
         time to time.

                   (h) Effective Date means May 1, 1992.
                       --------------

                                  ARTICLE III

                              RETIREMENT BENEFITS
                              -------------------

         3.1 Eligibility. Commencing at the time each of the following
             -----------
requirements have been met, an Outside Director shall become a Participant under
the Plan and eligible to receive retirement benefit payments:

             (a) Completion of at least six (6) years of service as an Outside
         Director; and

             (b) Either attains the Age for Board Retirement while serving as
         an Outside Director, or becomes permanently and totally disabled as
         defined in applicable Company personnel policies while serving as an
         Outside Director; and

             (c) Retires from the Board.

         3.2 Payment. Payments to Participants shall be made quarterly on the
             -------
dates corresponding to the dates on which quarterly installments of the annual
retainer are made to Outside Directors.

         3.3 Amount. A Participant's quarterly payment as specified in Section
             ------
3.2 shall be an amount equal to one-fourth of the annual directors' retainer
(exclusive of meeting fees or committee chairmen's retainers) for Outside
Directors prevailing at the time the Participant retires from the Board.

         3.4 Period of Payments. A Participant shall be entitled to receive the
             ------------------
payments specified in Section 3.3 for the life of the Participant, but not to
exceed the period equal to the Participant's Board service as an Outside
Director.

         3.5 Early Retirement. An Outside Director who has served at least six
             ----------------
years and who leaves the Board prior to the Age for Board Retirement, may, upon
application to and in the discretion of the Executive Committee, be granted
early retirement status. With early retirement status the Outside

                                       2
<PAGE>

Director shall become a Participant upon attainment of the Age for Board
Retirement and thereafter be entitled to quarterly payments as specified in
Section 3.3, calculated as of the date of departure from the Board, for the
period specified in Section 3.4.

         3.6 Deferred Compensation Plan. Nothing in this Plan shall affect
             ---------------------------
eligibility for or benefits under the Company's Deferred Directors Fee Plan or
any other deferred fee plan maintained by the Company.

         3.7 Forfeiture of Benefits. All benefits not yet paid for which an
             ----------------------
Outside Director would be otherwise eligible under this Plan shall be forfeited
in the event that the Executive Committee determines that any of the following
circumstances has occurred:

             (a) The Outside Director has engaged in knowing and willful
         misconduct in connection with his or her service as a director; or

             (b) The Outside Director, without the consent of the Executive
         Committee, at any time during or after his or her period of Board
         service, is employed by, becomes a principal of, serves as a director
         of, or owns a material interest in, any business which either directly
         or through any controlled subsidiary competes with the Company or any
         subsidiary of the Company.

         3.8 Surviving Spouse.
             ----------------

             (a) The surviving spouse of an Outside Director with at least six
         years Board service but who is not a Participant in the Plan shall be
         entitled to receive a quarterly payment, calculated in the manner
         specified in Section 3.3 as of the date of death of such Outside
         Director, payable for a period of two years following such death, but
         not to exceed the life of the surviving spouse.

              (b) The surviving spouse of a Participant shall be entitled to
         receive continuing quarterly payments in the amount specified in
         Section 3.3 for a period of two additional years following the death of
         the Participant, but not to exceed the life of the surviving spouse, or
         payments to both the Participant and the surviving spouse exceeding the
         period of Participant's prior Board service.

                                       3
<PAGE>

                                  ARTICLE IV

                                 MISCELLANEOUS
                                 -------------

         4.1 No Funding Obligation. The obligation of the Company to pay any
             ---------------------
benefits under this Plan shall be unfunded and unsecured and any payments under
this Plan shall be made from the general assets of the Company. The Company may,
however, in its discretion, set aside assets, or purchase annuity or life
insurance contracts, to discharge a1l or part of its obligations under this
Plan. Any such assets set aside, and any such annuity or life insurance
contracts, shall remain in the name of the Company and it is intended that no
trust be created to fund this Plan.

         4.2 Applicable Law. This Plan shall be construed and enforced in
             --------------
accordance with the laws of the State of California.

         4.3 Continued Board Service. Nothing in this Plan or the benefits
             -----------------------
payable hereunder shall confer upon any Participant the right to continue as a
member of the Board.

         4.4 Plan Binding on Successors. This Plan shall be binding upon the
             --------------------------
successors and assigns of the Company.

                                       4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00018-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00018-of-00352.parquet"}]]