Document:

Exhibit 10.24  

Carlisle Corporation  

 Supplemental Pension Plan  

 (as amended through October 31, 2007)  

Table of Contents  

	ARTICLE 1.    Establishment and Restatement of the Plan	 	1
	 	 1.1	 	            Restatement of the Plan	 	1
	 	 1.2	 	            Purpose	 	1
	 	 1.3	 	            Application of the Plan	 	1
	ARTICLE 2.    Definitions and Construction	 	1
	 	 2.1	 	            Definitions	 	1
	 	 2.2	 	            Gender and Number	 	2
	 	 2.3	 	            Severability	 	2
	 	 2.4	 	            Applicable Law	 	2
	ARTICLE 3.    Participation	 	3
	 	 3.1	 	            Eligibility	 	3
	 	 3.2	 	            Participation	 	3
	ARTICLE 4.    Benefits	 	3
	 	 4.1	 	            Eligibility for Benefits	 	3
	 	 4.2	 	            Amount of Benefits	 	3
	 	 4.3	 	            Form of Payment and Commencement Date	 	4
	 	 4.4	 	            Forfeiture for Gross Misconduct	 	5
	 	 4.5	 	            Preretirement Death Benefits	 	5
	 	 4.6	 	            Post-Retirement Death Benefits	 	5
	 	 4.7	 	            Reemployment	 	5
	ARTICLE 5.    Administration and General Provisions	 	5
	 	 5.1	 	            Administration	 	5
	 	 5.2	 	            Claims and Appeals Procedures	 	6
	 	 5.3	 	            Funding of the Plan	 	6
	 	 5.4	 	            Payment of Expenses	 	6
	 	 5.5	 	            Indemnity for Liability	 	6
	 	 5.6	 	            Incompetence	 	6
	 	 5.7	 	            Nonalienation	 	7
	 	 5.8	 	            Employer-Employee Relationship	 	7
	 	 5.9	 	            Effect on Other Benefit Plans	 	7
	 	 5.10	 	            Tax Liability	 	7
	ARTICLE 6.    Change in Business Form, Amendment, and Termination	 	7
	 	 6.1	 	            Change of Business Form	 	7
	 	 6.2	 	            Amendment and Termination	 	7
	Appendix A.    Supplemental Retirement Benefits	 	9

 

  ARTICLE 1.

Establishment and Restatement of the Plan  

        1.1    Restatement of the Plan    

        Carlisle
Corporation previously established an excess benefit plan for certain of its eligible Employees known as the "Supplemental Pension Plan for Employees of Carlisle Corporation"
(the "Plan"), which Plan was effective as of February 9, 1988. The Plan is hereby amended and restated in this instrument effective as of January 1, 1997 and shall be known as the
"Carlisle Corporation Supplemental Pension Plan." 

        1.2    Purpose    

        The
purpose of the Plan is to provide retirement or survivor's benefits under the circumstances described in (a), (b), and (c) below. 

        (a)   Effective
as of February 9, 1988, to provide to the Employee or his survivor(s) eligible to receive payments under the Retirement Plan for Employees of Carlisle
Corporation (the "Retirement Plan") that portion of such person's benefit which is not payable under the Retirement Plan due to the maximum annual benefits limitation under Code section 415. To
this extent the Plan is intended to provide solely for benefits for certain employees in excess of the limitations imposed by section 415 of the Internal Revenue Code of 1986 ("Code"), within
the meaning of section 3(36) of the Employee Retirement Income Security Act of 1974 (the "Act"). 

        (b)   Effective
as of January 1, 1994, to provide to the Employee or his survivor(s) eligible to receive payments under the Retirement Plan that portion of such
person's benefit that is not payable under the
Retirement Plan due to the compensation limitation under Code section 401(a)(17) or the nondiscrimination rules under Code section 401(a)(4). 

        (c)   Effective
as of February 1, 1994, to provide to the Employee or his survivor(s) a supplemental retirement benefit to those persons listed in and for the amounts
specified in Appendix A attached to and made a part of the Plan. To the extent benefits are payable under this subsection and under subsection (b) above, the Plan is intended to provide
unfunded deferred compensation benefits for a select group of management or highly compensated employees within the meaning of section 201(2) of the Act. 

        1.3    Application of the Plan    

        The
terms of this Plan are applicable only to eligible Employees who are in the active employ of the Employer on or after January 1, 1997. Benefits for Participants in the Plan
who retired or whose employment terminated prior to January 1, 1997 shall be as provided under the Plan as in effect at the time of such retirement or termination. 

ARTICLE 2.

Definitions and Construction  

        2.1    Definitions    

        Whenever
used in the Plan, the following terms shall have the meaning set forth below unless the context clearly indicates otherwise. 

        (a)   "Act" means the Employee Retirement Income Security Act of 1974, as now in effect or hereafter amended. 

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        (b)   "Affiliate" means the Company and any other corporation which together with the Company is a member of a "controlled
group of corporations" as defined in Code section 414(b). 

        (c)   "Benefit Commencement Date" means the date as of which a Participant's retirement benefit is to commence under the Plan. 

        (d)   "Board of Directors" means the Board of Directors of the Company. 

        (e)   "Code" means the Internal Revenue Code of 1986, as now in effect or hereafter amended. 

        (f)    "Committee" means the Carlisle Corporation Pension and Insurance Committee appointed by the Board of Directors of the
Company. 

        (g)   "Company" means Carlisle Corporation, and any organization that is a successor thereto. 

        (h)   "Effective Date" means February 9, 1988. 

        (i)    "Employee" means any employee of the Company or other Employer. 

        (j)    "Employer" means the Company and any Affiliate of the Company which is a party to a Retirement Plan. 

        (k)   "Participant" means an Employee who has satisfied the conditions of sections 3.1 and 3.2. 

        (l)    "Plan" means the Carlisle Corporation Supplemental Pension Plan as provided herein and as subsequently amended from time
to time. 

        (m)  "Retirement Plan" means (1) the Retirement Plan for Employees of Carlisle Corporation and (2) any other
defined benefit pension plan maintained by the Employer which is designated by the Committee as a Retirement Plan, under which plan retirement benefits may be limited under Code section 415,
401(a)(4), or 401(a)(17). 

        (n)   "Specified Employee" means an Employee who, as of the date of the Employee's separation from service with the Employer,
is a "key employee" of the Employer. An Employee shall be a "key employee" for this purpose during the twelve (12) month period beginning April 1 each year if the Employee met the
requirements of Section 416(i)(1)(A)(i), (ii) or (iii) of the Code (applied in accordance with the regulations thereunder and disregarding Section 416(i)(5) of the Code) at
any time during the twelve (12) month period ending on the immediately preceding December 31. For purposes of this Plan, the term "separation from service" shall be defined as provided
in Code Section 409A and applicable regulations. 

        2.2    Gender and Number    

        Except
when otherwise indicated by the context, any masculine terminology herein shall include the feminine, and the definition of any term herein in the singular shall also include the
plural. 

        2.3    Severability    

        In
the event any provision of the Plan shall be held invalid or illegal for any reason, any illegality or invalidity shall not affect the remaining parts of the Plan, but the Plan shall
be construed and enforced as if the illegal or invalid provision had never been inserted, and the Company shall have the privilege and opportunity to correct and remedy such questions of illegality or
invalidity by amendment as provided in the Plan. 

        2.4    Applicable Law    

        The
Plan shall be governed, construed, and administered in accordance with the laws of the State of New York. 

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ARTICLE 3.

Participation  

        3.1    Eligibility    

        An
Employee described in section 1.2(a) or (b) above who is entitled to retirement benefits pursuant to a Retirement Plan will be eligible to participate under this Plan
provided that: 

        (a)   the
Employee's participation in the Plan has been approved by the Committee; and 

        (b)   payments
that would otherwise have been made to the Employee under the Retirement Plan have been reduced by the limitation on such payments set forth in the Retirement
Plan, as required by Code section 415, 401(a)(4), or 401(a)(17). 

        An
Employee described in section 1.2(c) above shall be eligible for participation under this Plan as of the date determined by the Committee and specified in Appendix A to
the Plan. 

        3.2    Participation    

        A
person who is eligible for retirement or survivor benefits as described in section 3.1 shall become a Participant in the Plan as of the first day of the calendar year in which
such person meets the eligibility conditions in section 3.1 above. 

        The
Committee may provide for the discontinuation of future benefit accruals for any Participant at any time, provided that such a Participant shall retain the right to receive benefits
accrued prior to such discontinuation as provided herein 

ARTICLE 4.

Benefits  

        4.1    Eligibility for Benefits    

        (a)   Supplemental Normal Pension.    A Participant who retires after he attains his normal retirement age under the
Retirement Plan (i.e., age 65 and at least five years of vesting service under the Retirement Plan for Employees of Carlisle Corporation) shall be eligible to receive a supplemental normal
pension under the Plan. 

        (b)   Supplemental Early Pension.    A Participant who retires after he attains his early retirement age under the
Retirement Plan (i.e., age 55 and at least ten years of vesting service under the Retirement Plan for Employees of Carlisle Corporation) shall be eligible to receive a supplemental early
pension under the Plan. 

        (c)   Supplemental Disability Pension.    A Participant whose employment terminates due to total and permanent
disability as defined in the Retirement Plan shall be eligible to receive a supplemental disability pension under the Plan. 

        The
Employers do not intend to provide for a vested retirement benefit under the Plan. 

        4.2    Amount of Benefits    

        (a)   General.    The monthly supplemental pension benefit payable to a Participant at or after age 65 in the
form a single life annuity shall be equal to— 

        (1)   in
the case of a benefit described in section 1.2(a) or (b), the difference between (A) and (B) where— 

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        (A)  is
the amount of the monthly normal or disability retirement benefit that would have been payable under the Retirement Plan if the limitations in Code
sections 415, 401(a)(4), and 401(a)(17) were not applied; and 

        (B)  is
the amount of the monthly normal or disability retirement benefit payable under the Retirement Plan; or 

        (2)   in
the case of a benefit described in section 1.2(c), the amount specified in Appendix A of the Plan. 

        (b)   Payments at Other Times and in Other Forms.    If a supplemental pension payable under the Plan becomes payable
at a time other than age 65 or becomes payable in a form of payment other than a single life annuity, the amount of the supplemental pension payable under the Plan shall be computed using the same
actuarial factors and assumptions, including early commencement factors for a supplemental early pension, used to compute the benefit payable under the Retirement Plan. 

        (c)   Discontinued Benefit Accruals.    The supplemental pension payable to an eligible Participant under 4.1 with
respect to whom benefit accruals were discontinued under 3.2 prior to the Participant's retirement or termination of employment due to total permanent disability shall be determined based on the
amount determined under (a)(1)(A) as of the date of discontinuation of benefit accruals, and the amount determined under (a)(1)(B) as of the date of retirement or termination due to total permanent
disability. 

        4.3    Form of Payment and Commencement Date    

        (a)   Normal Form.    The normal form of payment of a supplemental pension benefit under the Plan shall be 

        (1)   a
single life annuity for an unmarried Participant, payable monthly as of the first day of the month and commencing at the time specified in subsection (c) below;
or 

        (2)   for
a married Participant, the automatic post-retirement (joint and survivor) surviving spouse benefit under the Retirement Plan. 

        (b)   Optional Forms.    Upon an irrevocable written election filed with the Committee at least 90 days prior
to the Participant's retirement date, the benefit to which the Participant is entitled under subsection (a) above shall be payable under one of the post-retirement optional forms of
payment that are provided under the Retirement Plan. Such form need not be the same form of payment as selected by the Participant under the Retirement Plan. Any of these forms of monthly or lump sum
payment shall have an actuarial value that is equivalent to the normal form of benefit, determined in accordance with the actuarial factors used to determine such forms under the Retirement Plan. 

        Notwithstanding
the foregoing, on and after January 1, 2000 benefits under this Plan shall not be payable in the form of a lump sum payment. 

        (c)   Commencement Date.    Supplemental pension benefits payable under section 4.2 shall commence as of the
first day of the month coinciding with or immediately following the date of the Participant's separation from service; provided,  however, if a Participant
is a Specified Employee as of the date of the Participant's separation from service, the benefits that would otherwise be
payable during the six (6) month period commencing on the date of the Participant's separation from service (for reasons other than the Participant's death) shall be accumulated and the
Participant's right to receive payment of such accumulated amount will be delayed until the first day of the seventh month following the Participant's separation from service and paid on such date,
without interest, and the normal payment schedule for the remaining benefits will commence at that time. 

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        4.4    Forfeiture for Gross Misconduct    

        Notwithstanding
this Article 4, any supplemental pension which a Participant is receiving, or for which he may be eligible, under section 4.2 shall be forfeited, and a
Participant or the Participant's beneficiary shall have no right to such benefit, if the Committee or the Company determines that the Participant has engaged in "gross misconduct," for example, if
he— 

        (a)   has
engaged in competition with the Employer or an Affiliate of the Employer or has gone to work for a competitor; 

        (b)   has
revealed trade secrets, or has otherwise engaged in a willful, deliberate, or gross act of commission or omission which is injurious to the finances or reputation of
the Employer or its Affiliate; 

        (c)   has
engaged in conduct determined to be a conflict of interest contrary to the interests of the Employer or its Employees; or 

        (d)   has
committed gross malfeasance or gross misfeasance in connection with his rendering of service to the Employer. 

        4.5    Preretirement Death Benefits    

        A
preretirement death benefit shall be payable under this section to a surviving spouse or other beneficiary of a Participant who is an active Employee if a preretirement death benefit
payable to such person under the Retirement Plan is affected by the limitations in Code section 415, 401(a)(4), or 401(a)(17) or related limitations. Such preretirement death benefit shall be
computed on the same basis as supplemental pension payments are determined under section 4.2 and shall be paid in the same forms as are available under the Retirement Plan. Preretirement death
benefits shall be forfeitable in the same manner as retirement benefits in accordance with the provisions of section 4.4. 

        Notwithstanding
the foregoing, on and after January 1, 2000 preretirement death benefits under the Plan shall not be payable in the form of a lump sum payment. 

        4.6    Post-Retirement Death Benefits    

        The
only post-retirement death benefits under the Plan shall be under the optional forms of payment described in section 4.3(b). 

        4.7    Reemployment    

        Upon
reemployment of a Participant after his Benefit Commencement Date, his supplemental pension benefits shall be suspended until his subsequent retirement. 

ARTICLE 5.

Administration and General Provisions  

        5.1    Administration    

        The
Committee shall have authority to interpret the Plan, to adopt and revise rules and regulations relating to the Plan, to determine the conditions subject to which any benefits are
payable, to have exclusive authority and discretion to construe any uncertain or disputed term or provision of the Plan, and to make any other determinations which it believes necessary or advisable
for the administration of the Plan, including altering or amending the Plan from time to time, so long as no alternation or amendment alters, impairs, or reduces the accrued benefits of any
Participant under the Plan prior to the effective date of such alteration or amendment unless the alteration is made as a result of a Participant's gross misconduct. All determinations and
interpretations by the Committee shall be made by majority vote and 

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shall
be final and binding on any Participant claiming benefits under the Plan and shall be given deference in all courts of law to the extent allowed by applicable law. 

        5.2    Claims and Appeals Procedures    

        All
claims for benefits under the Plan shall be in writing and submitted to the Committee as administrator. If the Committee denies a claim in whole or in part, it shall notify the
Participant of its determination in writing within 90 days of receiving the claim. The written determination shall include the reasons for the Committee's decision in laymen's terms, specific
references to pertinent Plan provisions, a description of any information or material necessary to perfect the claim, and a description of the review procedures set forth below. The period for making
the determination may be extended for up to an additional 90 days, if necessary, provided the Committee notifies the Participant of the extension within the initial 90-day period. 

        The
Participant may request a review of a complete or partial denial of a claim. The request must be made in writing within 60 days after the Participant receives the denial and
should be submitted to the Committee. The request should be accompanied by documents or records in support of the Participant's appeal. 

        If
the Committee still believes that the Participant is not entitled to the benefits claimed, it shall afford the Participant or the Participant's representative a reasonable opportunity
to appear personally, submit issues and comments in writing, and review pertinent documents. The Committee shall render its final decision, with specific reasons in writing, and send the decision to
the Participant in writing within 60 days of the request for review. If necessary, the period for making the decision shall be extended for up to an additional 60 days, provided the
Committee notifies the Participant of the extension within the initial 60-day period. The decision upon review shall be final. 

        5.3    Funding of the Plan    

        Benefits
under the Plan shall be paid out of the general assets of the Employer. Benefits payable under the Plan shall be reflected on the accounting records of the Employer but shall
not be construed to create or require the creation of a trust, custodial, or escrow account. No Employee or Participant shall have any right, title, or interest whatever in or to any investment
reserves, accounts, or funds that the Employer may purchase, establish, or accumulate to aid in providing benefits under the Plan. Nothing contained in the Plan, and no action taken pursuant to its
provisions, shall create a trust or fiduciary relationship of any kind between the Employer and an Employee or any other person. Neither a Participant nor survivor or beneficiary of an Employee shall
acquire any interest greater than that of an unsecured creditor. 

        5.4    Payment of Expenses    

        The
expenses of administering the Plan shall be paid by the Company. 

        5.5    Indemnity for Liability    

        The
Company shall indemnify each member of the Committee, and each other person acting at the direction of the Committee, against any and all claims, losses, damages, expenses, including
counsel fees, incurred by such persons and any liability, including any amounts paid in settlement with the Committee's approval, arising from such person's action or failure to act, except when the
same is judicially determined to be attributable to the gross negligence or willful misconduct of such person. 

        5.6    Incompetence    

        Every
person receiving or claiming benefits under the Plan shall be conclusively presumed to be mentally competent until the date on which the Committee receives a written notice, in a
form and manner acceptable to the Committee, that such person is incompetent, and that a guardian, conservator, or other person legally vested with the care of his person or estate has been appointed;
provided, however, that if 

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the
Committee shall find that any person to whom a benefit is payable under the Plan is unable to care for his affairs because of incompetency, any payment due (unless a prior claim therefor shall
have been made by a duly appointed legal representative) may be paid as provided in the Retirement Plan. Any such payment so made shall be a complete discharge of liability therefor under the Plan. 

        5.7    Nonalienation    

        No
benefit payable at any time under the Plan shall be subject in any manner to alienation, sale, transfer, assignment, pledge, attachment, garnishment, or encumbrance of any kind, and
shall not be subject to or reached by any legal or equitable process (including execution, garnishment, attachment, pledge, or bankruptcy) in satisfaction of any debt, liability, or obligation, prior
to receipt. Any attempt to alienate, sell, transfer, assign, pledge, or otherwise encumber any such benefit, whether presently or thereafter payable, shall be void. 

        5.8    Employer-Employee Relationship    

        The
establishment of this Plans hall not be construed as conferring any legal or other rights upon any Employee or any person for a continuation of employment, nor shall it interfere
with the rights of the Employer to discharge any Employee or otherwise act with relation to him. The Employer may take any action (including discharge) with respect to any Employee or other person and
may treat such person without regard to the effect which such action or treatment might have upon him as a Participant of this Plan. 

        5.9    Effect on Other Benefit Plans    

        Amounts
credited or paid under this Plan shall not be considered to be compensation for the purposes of the Retirement Plan or any other plans maintained by the Employer. The treatment
of such amounts under other employee benefit plans shall be determined pursuant to the provisions of such plans. 

        5.10    Tax Liability    

        The
Employer may withhold from any payment of benefits hereunder any taxes required to be withheld and such sum as the Employer may reasonably estimate to be necessary to cover any taxes
for which the Employee may be liable and which may be assessed with regard to such payment. 

ARTICLE 6.

Change in Business Form, Amendment, and Termination  

        6.1    Change of Business Form    

        The
Company will not merge or consolidate with any other corporation or organization, or permit its business activities to be taken over by any other organization, unless and until the
succeeding or continuing corporation or other organization agrees to assume the rights and obligations of the Company herein set forth. The Company further agrees that it will not cease its business
activities or terminate its existence, other than as heretofore set forth in this Article, without having made adequate provisions for the fulfilling of its obligations hereunder. 

        6.2    Amendment and Termination    

        The
Company reserves the right to change or discontinue this Plan by action of the Board of Directors in its discretion; provided, however, that in the case of any person to whom
benefits under this Plan had accrued upon termination of employment prior to such Board of Directors action, or in the case of any Employee who would have been entitled to benefits under this Plan had
the Employee's employment ceased prior to such change or discontinuance, except as otherwise provided in section 4.4, the benefits such person had accrued under this Plan prior to such change
or discontinuance shall not be adversely affected thereby. 

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        The
Company intends for the Plan to comply with Code Section 409A. In the event that the Company reasonably determines that any Plan provision or procedure does not comply with
Code Section 409A, the Company shall adopt such Plan amendments or adopt other policies or procedures that will bring the Plan and its administration into compliance with Code
Section 409A; provided that any such Plan
amendment, policy or procedure shall not reduce any Participant's or beneficiary's benefit or rights under the Plan. 

*
* * * * * * * * 

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  Appendix A.

Supplemental Retirement Benefits  

        This Appendix A is a part of and incorporated into the Plan and contains special rules applicable only to the Participants described herein. If any
provision of this Appendix A conflicts with any other provision of the Plan with respect to Participants, the provisions of this Appendix A shall govern. 

 A.1 Other Top Hat Benefits  

        This paragraph covers— 

	(a)
	a
window supplemental early benefit; and

	(b)
	a
supplemental pension benefit 

to
make up a participant's accrued pension with a previous employer that was forfeited for lack of vesting when he accepted employment with Carlisle Corporation. 

	Name
	 	Social Security

Number
	 	Monthly

Supplemental Payment

	Myers, Malcolm	 	XXX-XX-3395	 	$	500.00
	 	 	
	 	

 A.2 David A. Roberts  

Mr. Roberts
shall be entitled to receive a supplemental retirement benefit under the Plan in accordance with the following paragraphs: 

	(a)
	Amount of Benefit.    The monthly amount of the supplemental retirement benefit payable to Mr. Roberts, expressed as a
life annuity commencing on January 1, 2013, is $25,703.

	(b)
	Vesting.    Mr. Roberts shall become vested in the benefit as follows if he remains employed with the Employer through
the following vesting dates: 

	Vesting Date
	 	Vested Percentage
	 
	June 21, 2008	 	20	%
	June 21, 2009	 	40	%
	June 21, 2010	 	60	%
	June 21, 2011	 	80	%
	June 21, 2012	 	100	%

If
not vested earlier in accordance with the foregoing schedule, Mr. Roberts shall become vested in the benefit upon (i) Mr. Roberts' involuntary separation from service with the
Employer for any reason other than gross and willful misconduct, (ii) Mr. Roberts' resignation from his employment with the Employer for good reason, (iii) Mr. Roberts'
separation from service with the Employer due to total and permanent disability as defined in the Retirement Plan, or (iv) Mr. Roberts' death. For purposes of the foregoing, the terms
"gross and willful misconduct" and "good reason" shall have the respective meanings ascribed to them in that certain employment letter agreement between Carlisle Companies, Incorporated and
Mr. Roberts dated June 5, 2007. 

Any
portion of the benefit that is not vested on the date Mr. Roberts' employment with the Employer separates from service shall be forfeited. 

	(c)
	Benefit Commencement Date.    Payment of the vested portion of the benefit shall commence as of the first day of the calendar
month coinciding with or next following Mr. Roberts' separation 

9

 

from
service with Employer; provided, however, the monthly benefits that would otherwise be payable during the six (6) month period commencing as of the date of Mr. Roberts' separation
from service (for reasons other than his death) shall be accumulated and Mr. Roberts' right to receive payment of such accumulated amount will be delayed until the first day of the seventh
month following his separation from service and paid on such date, without interest, and the normal payment schedule for the remaining benefits will commence at that time. In the event payment of the
benefit commences prior to (or after) January 1, 2013, the amount of the benefit shall be reduced (or increased) to an amount that is actuarially equivalent to the benefit payable at
January 1, 2013 based on the same actuarial factors and assumptions, including early commencement factors, used to compute actuarial equivalent benefits payable under the Retirement Plan. 

	(d)
	Method of Payment.    Mr. Roberts shall be entitled to elect, at any time prior to the date payment commences, to
receive the vested benefit in accordance with one of the following methods of payment: 

Option 1 (Single Life Level Annuity):    a retirement income payable to Mr. Roberts during his lifetime. 

Option 2 (Contingent Life Annuity):    a reduced retirement income payable to Mr. Roberts during his lifetime and all (100%),
three-fourths (75%), two-thirds (662/3%) or one-half (50%) of such reduced retirement benefit payable after his death to another person designated by
Mr. Roberts, called the "contingent annuitant," during the lifetime of the contingent annuitants, if such contingent annuitant survives him. 

Option 3 (Life and Ten Years Certain Annuity):    a reduced retirement income payable to Mr. Roberts during his lifetime, with
the provision that if his death occurs before he has received 120 monthly payments, such payments will continue to his designated beneficiary until a total of 120 monthly payments have
been made to Mr. Roberts and his beneficiary; or, if such beneficiary shall die prior to receiving his full number of payments, the discounted value of the remaining monthly payments will be
paid in a lump sum to the beneficiary's estate. 

The
monthly amount payable under Option 2 of 3 above shall have a value that is equivalent to the
monthly retirement benefit under Option 1, based on the same actuarial factors and assumptions used to compute actuarially equivalent benefits
payable under the Retirement Plan. In the event Mr. Roberts fails to elect a method of payment, the Retirement Benefit shall be paid in accordance with Option 1  above. 

	(e)
	Death Benefit.    In the event Mr. Roberts dies prior to commencement of his retirement benefit under the Plan and he
was married at the time of his death, Mr. Roberts' surviving spouse shall be entitled to receive a death benefit equal to the survivor benefit that would have been payable to his surviving
spouse if he had separated from service with the Employer after the benefit had become fully vested and immediately prior to his death, commenced receiving the benefit under  Option 2 above with his
surviving spouse as the 50% contingent annuitant and then died. 

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Exhibit 10.4    
    

 
 

2000 RESTRICTED STOCK PLAN
  
    FOR NON-EMPLOYEE DIRECTORS
  
    (Amended and restated on November 1, 2007)    
    

1

 
 
 

2000 Restricted Stock Plan for Non-Employee Directors
  
    (Amended and restated on November 1, 2007)    
    

 
  ARTICLE I. DEFINITIONS    
    

	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)
	"Assumed
Award" shall mean a restricted stock grant, restricted stock unit or other equity-based arrangement that was granted by Old Fluor to one of its non-employee
directors for his or her service as such and which is assumed by the Company in connection with the Distribution, as such award has been adjusted or amended pursuant to the terms thereof.

	(b)
	"Award"
shall mean an award granted pursuant to the provisions of Article V or Article VI hereof.

	(c)
	"Awardee"
shall mean an Eligible Director to whom an Award has been granted hereunder.

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

	(e)
	Unless
the Committee or the Board shall provide otherwise, "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.

	(f)
	"Committee"
shall mean the administrative body provided for in Section 4.1.

	(g)
	"Company"
shall mean Fluor Corporation and, with respect to periods of time prior to the date of the Distribution, Old Fluor.

	(h)
	"Distribution"
shall have the meaning set forth in Section 2.2.

	(i)
	"Eligible
Director" shall mean a director of the Company who is not and never has been an employee of the Company or any of its Subsidiaries.

	(j)
	"Fluor
Stock Price" shall mean, as of any date, the closing sale price for shares of Stock quoted for such date on The New York Stock Exchange.

	(k)
	"Old
Fluor" shall have the meaning set forth in Section 2.2.

	(l)
	"Participant"
shall mean any Eligible Director to whom an Award has been made and any person (including any estate) to whom an Award has been assigned or transferred pursuant to
Section 5.3(b).

	(m)
	"Plan"
shall mean the Fluor Corporation 2000 Restricted Stock Plan for Non-Employee Directors, the current terms of which are set forth herein.

	(n)
	"Plan
Effective Date" shall mean the date upon which the Plan becomes effective in accordance with the provisions of Section 2.3. 

2

 

	(o)
	"Restricted
Stock Agreement" and "Restricted Unit Agreement" shall mean the agreement between the Company and the Awardee with respect to any Restricted Stock Award and Restricted
Unit Award, respectively, granted hereunder.

	(p)
	"Restricted
Stock Award" shall mean Stock that is awarded to an Eligible Director by the Committee pursuant to Article V hereof, which is nontransferable except as set forth
herein and subject to a substantial risk of forfeiture until specific conditions are met.

	(q)
	"Restricted
Unit Award" shall mean amounts awarded pursuant to Article VI hereof.

	(r)
	"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 its successor, such other stock or securities.

	(s)
	"Subsidiary"
shall mean any corporation, the majority of the outstanding capital stock of which is owned, directly or indirectly, by the Company or any partnership or joint venture in
which either the Company or such a corporation is at least a twenty percent (20%) equity participant. 

 
 

ARTICLE II. GENERAL    
    

	2.1
	Name.

        This
Plan shall be known as the "Fluor Corporation 2000 Restricted Stock Plan for Non-Employee Directors." 

	2.2
	Purpose.

        The
purpose of the Plan is to advance the interests of the Company and its stockholders by affording to Eligible Directors an opportunity to acquire or increase their proprietary
interest in the Company by the grant to such directors of Awards under the terms set forth herein. By encouraging non-employee directors to become owners of Company shares, the Company
seeks to increase their incentive for enhancing stockholder value and to motivate, retain and attract those highly competent individuals upon whose judgment, initiative, leadership and continued
efforts the success of the Company in large measure depends. The Plan also permits shares of Stock to be issuable upon vesting or satisfaction of restricted stock and restricted unit awards that were
assumed by the Company in connection with the distribution of the Company's common stock (the "Distribution") to the stockholders of Massey Energy Company, which prior to the distribution was known as
Fluor Corporation ("Old Fluor"). 

	2.3
	Effective Date.

        The
Plan became effective upon its approval by Old Fluor, as sole stockholder of the Company. 

	2.4
	Limitations.

        Subject
to adjustment pursuant to the provisions of Section 8.1 hereof, the aggregate number of shares of Stock which may be issued under the Plan shall not exceed 220,000. Any
such shares may be either authorized and unissued shares or shares issued and thereafter acquired by the Company. 

	2.5
	Awards Granted under Plan.

        For
purposes of Section 2.4, the aggregate number of shares of Stock issued under this Plan at any time shall equal only the number of shares actually issued pursuant to
Restricted Stock Awards and shall not count any shares of Stock returned to the Company upon cancellation, expiration or forfeiture of an Award or underlying a Restricted Unit Award. 

3

 

 
 

ARTICLE III. PARTICIPANTS    
    

	3.1
	Eligibility.

        Any
Eligible Director shall be eligible to participate in the Plan. 

 
 

ARTICLE IV. ADMINISTRATION    
    

	4.1
	Composition of Committee.

        The
Plan shall be administered by the Organization and Compensation Committee of the Board, and/or by the Board or another committee of the Board, as appointed from time to time by the
Board (any such administrative body, the "Committee"). The Board shall fill vacancies on, and from time to time may remove or add members to, the Committee. The Committee shall act pursuant to a
majority vote or unanimous written consent. 

	4.2
	Duties and Powers of the Committee.

        Subject
to the express provisions of this Plan, the Committee shall be authorized and empowered to do all things necessary or desirable in connection with the administration of this Plan
with respect to the Awards over which such Committee has authority, including, without limitation, the following: 

	(a)
	to
prescribe, amend and rescind rules and regulations relating to this Plan and to define terms not otherwise defined herein;

	(b)
	to
determine the number of shares of Stock subject to Awards;

	(c)
	to
prescribe and amend the terms of the agreements or other documents evidencing Awards made under this Plan;

	(d)
	to
determine whether, and the extent to which, adjustments are required pursuant to Section 8.1 hereof;

	(e)
	to
interpret and construe this Plan, any rules and regulations under the Plan and the terms and conditions of any Award granted hereunder, and to make exceptions to any such
provisions in good faith and for the benefit of the Company; and

	(f)
	to
make all other determinations deemed necessary or advisable for the administration of the Plan.

	4.3
	Determinations of the Committee.

        All
decisions, determinations and interpretations by the Committee or the Board regarding the Plan shall be final and binding on all current or former directors of the Company and their
beneficiaries, heirs, successors and assigns. The Committee or the Board, as applicable, shall consider such factors as it deems relevant, in its sole and absolute discretion, to making such
decisions, determinations and interpretations including, without limitation, the recommendations or advice of any officer of the Company or Eligible Director and such attorneys, consultants and
accountants as it may select. 

4

 
	4.4
	Company Assistance.

        The
Committee may designate the Secretary of the Company or other Company employees to assist the Committee in the administration of the Plan, and may grant authority to such persons to
execute agreements evidencing Awards made under this Plan or other documents entered into under this Plan on behalf of the Committee or the Company. The Company shall supply full and timely
information to the Committee on all matters relating to Eligible Directors, their death, retirement, disability or removal or resignation from the Board 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. RESTRICTED STOCK AWARDS    
    

	5.1
	Awards under the Plan.

        The
Committee may provide for a one-time Restricted Stock Award to any Eligible Director which shall be granted on a date determined by the Committee, in its sole discretion,
in connection with such Eligible Director first being appointed or elected to the Board. The Committee shall grant to each Eligible Director that is a member of the Board during all or any portion of
each calendar year a Restricted Stock Award, which shall be granted on a date determined by the Committee, in its sole discretion. The number of shares of Stock subject to a one-time
Restricted Stock Award shall be set by the Committee but shall not exceed 2,500 and the number of shares of Stock subject to an annual Restricted Stock Award shall be set by the Committee but shall
not exceed 2,500. 

        An
Assumed Award is a restricted stock grant, restricted stock unit or other equity-based arrangement that was granted by Old Fluor to its non-employee directors for their
service as such and assumed by the Company in connection with the Distribution, as adjusted or amended pursuant to the terms thereof. Assumed Awards may be settled with Stock authorized and issued
under this Plan. Notwithstanding any provision to the contrary in this Plan and except as provided in this sentence, the terms of Assumed Awards shall be subject to the terms and conditions set forth
in the grant agreement and/or other document(s) evidencing such Award and, to the extent provided therein, to terms equivalent to the terms of the plan under which such Award was originally granted;
provided, however, that all Assumed Awards shall be administered by the Committee, which shall have the power and authority provided for in Section 4 of this Plan. 

	5.2
	Restricted Stock Agreement.

        The
Awardee shall be entitled to receive the Stock subject to such Award only if the Company and the Awardee, within the time period specified by the Committee, enter into a written
Restricted Stock Agreement dated as of the date of the Award, which Agreement shall set forth such terms and conditions as may be determined by the Committee consistent with the Plan. 

	5.3
	Restrictions on Sale or Other Transfer.

        Each
share of Stock granted under a Restricted Stock Award shall be subject to acquisition by the Company, and may not be sold or otherwise transferred except pursuant to the following
provisions: 

	(a)
	The
shares of Stock represented by the Restricted Stock Agreement shall be held in book entry form with the Company's transfer agent until the restrictions lapse in accordance with
the conditions established by the Committee pursuant to Section 5.4 hereof or until the shares of Stock are forfeited pursuant to paragraph (c) of this Section 5.3. 

5

 

	(b)
	No
such shares of Stock may be sold, transferred or otherwise alienated or hypothecated so long as such shares are subject to the restriction provided for in this Section 5.3;  provided, however, that the Committee may in its sole discretion grant an Award or amend an outstanding
Award to provide that the Award is transferable or assignable to a member or members of the Eligible Director's "immediate family", as such term is defined under Rule 16a-1(e) under
the Securities Exchange Act of 1934, as amended, or to a trust for the benefit solely of the Eligible Director or a member or members of the Eligible Director's immediate family, or to a partnership
or other entity whose only owners are the Eligible Director and/or a member or members of the Eligible Director's family, provided that following any such transfer or assignment the Award will remain
subject to substantially the same terms applicable to the Award while held by the Eligible Director, and the Participant shall execute an agreement agreeing to be bound by such terms.

	(c)
	All
of the Awardee's Restricted Stock Award remaining subject to any restriction hereunder shall be forfeited to, and be acquired at no cost by, the Company in the event that the
Committee determines that any of the following circumstances has occurred:

	(i)
	the
Awardee has engaged in knowing and willful misconduct in connection with his or her service as a member of the Board;

	(ii)
	the
Awardee, without the consent of the Committee, at any time during his or her period of service as a member of the Board, becomes a principal of, serves as a director of, or owns
a material interest in, any business that directly or through a controlled subsidiary competes with the Company or any Subsidiary; or

	(iii)
	the
Awardee does not stand for reelection to, or voluntarily quits or resigns from, the Board for any reason, except under circumstances that would cause such restrictions to lapse
under Section 5.4.

	5.4
	Lapse of Restrictions.

	(a)
	The
restrictions imposed under Section 5.3 above upon a one-time Restricted Stock Award shall lapse to the extent of 20% of the number of shares subject to such
Award on such date as shall be designated by the Committee, and, thereafter, the restrictions on the remaining shares subject to such Award will lapse in four equal increments on the succeeding
anniversary dates following the date of lapsing of restrictions on the first 20% of the shares.

	(b)
	The
restrictions imposed under Section 5.3 above upon an annual Restricted Stock Award shall lapse in five equal increments on the succeeding anniversary dates of the date of
grant. Notwithstanding the foregoing, if the Restricted Stock Award has been held for at least six months, the restrictions imposed under Section 5.3 above upon an annual Restricted Stock Award
will lapse immediately upon the Awardee's retirement, death or disability, or upon a Change of Control unless the Committee provides otherwise in the Restricted Stock Agreement.

	(c)
	Notwithstanding
Sections 5.4(a) and (b), the Committee may provide that the restrictions imposed under Section 5.3 will lapse over or upon satisfaction of a greater or
fewer number of years of service on the Board, except that the Committee may not provide for full lapsing of all such restrictions for less than three (3) years service on the Board other than
upon the Awardee's retirement, death or disability, or upon a Change of Control. 

6

 

	5.5
	Early Retirement.

        An
Awardee, who leaves the Board prior to the age for mandatory retirement of members of the Board as specified in the Bylaws of the Company (as applied to an Eligible Director on the
date of such Eligible Directors' retirement from the Board), may, upon application to and in the sole discretion of the Committee, be granted early retirement status and, consequently, may receive
benefits associated with such status. 

	5.6
	Rights as Stockholder.

        Subject
to the provisions of Section 5.3 hereof, upon the issuance to the Awardee of Stock hereunder, the Awardee shall have all the rights of a stockholder with respect to such
Stock, including the right to vote the shares and receive all dividends and other distributions paid or made with respect thereto. 

	5.7
	Stock Certificates.

        The
Company shall not be required to issue or deliver any certificate for shares of Stock pursuant to a Restricted Stock Agreement executed hereunder, prior to fulfillment of all of the
following conditions: 

	(a)
	the
admission of such shares to listing on all stock exchanges on which the Stock is then listed;

	(b)
	the
completion of any registration or other qualification of such shares under any federal or state law or under the rulings or regulations of the Securities and Exchange Commission
or any other governmental regulatory body, which the Committee shall in its sole discretion deem necessary or advisable;

	(c)
	the
obtaining of any approval or other clearance from any federal or state governmental agency which the Committee shall in its sole discretion determine to be necessary or advisable;
and

	(d)
	the
lapse of such reasonable period of time following the execution of the Restricted Stock Agreement as the Committee from time to time may establish for reasons of administrative
convenience. 

 
 

ARTICLE VI. RESTRICTED UNIT AWARDS    
    

	6.1
	Restricted Unit Award Grant and Agreement.

        The
Committee may in its discretion provide that a Restricted Unit Award be granted in conjunction with Restricted Stock Awards. 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 Restricted Unit Agreement dated as of the date of grant and executed by the Company and the Awardee, which
Agreement shall set forth such terms and conditions as may be determined by the Committee consistent with the Plan. 

	6.2
	Award Terms and Conditions.

        The
Committee shall determine the number of shares of Stock subject to each Restricted Unit Award. Each Restricted Unit Award shall become earned, and the Company shall automatically pay
the Awardee in cash, on the dates upon which a portion of the restrictions lapse on any associated Restricted Stock Award or upon such other terms and conditions as may be determined by the Committee. 

7

 
	6.3
	Effect of Forfeiture of Restricted Stock Award.

        Unless
provided otherwise by the Committee, upon all or any part of a Restricted Stock Award being forfeited pursuant to Section 5.3(c), any associated Restricted Unit Award shall
be forfeited and cancelled, without any payment to the Awardee, to the same extent as such Restricted Stock Award. 

 
 

ARTICLE VII. TERMINATION, AMENDMENT AND MODIFICATION OF PLAN    
    

	7.1
	Termination, Amendment and Modification of Plan.

        The
Committee may at any time terminate, and may at any time and from time to time and in any respect amend or modify, the Plan provided that, if under applicable laws or the rules of
any securities exchange upon which the Company's common stock is listed, the consent of the Company's stockholders is required for such amendment or modification, such amendment or modification shall
not be effective until the Company obtains such consent, and provided, further, that no termination, amendment or modification of the Plan shall in any manner affect any Award theretofore granted
pursuant to the Plan without the consent of the Awardee. Notwithstanding the foregoing, if an amendment or modification would (i) materially increase the benefits accruing to participants under
the Plan, (ii) materially increase the aggregate number of securities that may be issued under the Plan or (iii) materially modify the requirements as to eligibility for participation in
the Plan, then, such amendment or modification shall not be effective until the Company obtains the approval of the Company's stockholders. 

	7.2
	Term of Plan.

        Each
Award granted hereunder must be granted within ten years from the effective date of the Plan. 

 
 

ARTICLE VIII. MISCELLANEOUS    
    

	8.1
	Adjustment Provisions.

	(a)
	Subject
to Section 8.1(b) below, 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 assets 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 equitable adjustment shall be made in (i) the maximum number and kind of shares provided in Sections 2.4 and 5.1, and (ii) the number and
kind of shares or other securities subject to the outstanding Awards.

	(b)
	Adjustments
under Section 8.1(a) 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. No fractional interests will be issued under the Plan resulting from any such adjustments.

	8.2
	Continuation of Board Service.

        Nothing
in the Plan or in any instrument executed pursuant to the Plan will confer upon any Eligible Director any right to continue to serve on the Board. 

8

 
	8.3
	Compliance with Government Regulations.

        No
shares of Stock will be issued hereunder unless and until all applicable requirements imposed by federal and state securities and other laws, rules, and regulations and by any
regulatory agencies having jurisdiction and by any stock exchanges upon which the Stock may be listed have been fully met. As a condition precedent to the issuance of shares of Stock pursuant hereto,
the Company may require the Awardee to take any reasonable action to comply with such requirements. 

	8.4
	Privileges of Stock Ownership.

        No
director and no beneficiary or other person claiming under or through such person will have any right, title, or interest in or to any shares of Stock allocated or reserved under the
Plan or subject to any Award except as to such shares of Stock, if any, that have been issued to such director. 

	8.5
	Non-Transferability.

        Except
as set forth in Section 5.3 hereof, (a) for so long as any Award is subject to any restrictions pursuant to this Plan, the Award may be owned during the life of the
director solely by the director or the director's duly appointed guardian or personal representative and (b) no Award and no other right under the Plan, contingent or otherwise, will be
assignable or subject to any encumbrance, pledge, or charge of any nature. 

	8.6
	Other Compensation Plans.

        The
adoption of the Plan shall not affect any other 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 or directors of the Company or any Subsidiary. 

	8.7
	Plan Binding on Successors.

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

	8.8
	Singular, Plural; Gender.

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

	8.9
	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. 

	8.10
	Governing Law.

        This
Plan and any Awards hereunder shall be governed by and interpreted and construed in accordance with the laws of the State of Delaware and applicable federal law. Any reference in
this Plan or in the agreement evidencing any Award to a provision of law or to a rule or regulation shall be deemed to include any successor law, rule or regulation of similar effect or applicability. 

9

QuickLinks

Exhibit 10.4

2000 RESTRICTED STOCK PLAN FOR NON-EMPLOYEE DIRECTORS (Amended and restated on November 1, 2007)

2000 Restricted Stock Plan for Non-Employee Directors (Amended and restated on November 1, 2007)

ARTICLE I. DEFINITIONS

ARTICLE II. GENERAL

ARTICLE III. PARTICIPANTS

ARTICLE IV. ADMINISTRATION

ARTICLE V. RESTRICTED STOCK AWARDS

ARTICLE VI. RESTRICTED UNIT AWARDS

ARTICLE VII. TERMINATION, AMENDMENT AND MODIFICATION OF PLAN

ARTICLE VIII. MISCELLANEOUS

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