Document:

FOSTER
      WHEELER LTD. OMNIBUS INCENTIVE PLAN

     

    Employee
      Restricted Stock Unit Award Agreement

     

    
      	
              Name
                of Participant: 

               

            	__________________________________
	
              Date
                of Grant:

               

            	November
              15, 2006
	
              Number of Restricted Stock Units
                Awarded:

               

            	__________________

    

    

    Pursuant
      to the Foster Wheeler Ltd. Omnibus Incentive Plan (the “Plan”), a copy of which
      has been delivered to you, along with a prospectus describing the material
      terms
      of the Plan, and in accordance with the terms and conditions of the Plan and
      your agreement to such additional terms, conditions and restrictions as are
      set
      forth below, you have been granted as of the date set forth above a Restricted
      Stock Unit Award (the “Restricted Stock Unit Award”), meaning the right to
      receive common stock of Foster Wheeler Ltd. (the “Company”), par value of $.01
      per share, on the terms and conditions set forth herein. Capitalized terms
      used
      but not defined in this Employee Restricted Stock Unit Award Agreement (the
      “Agreement”) have the meanings ascribed to them in the Plan.

    

    1.     Acceptance
      of Restricted Stock Unit Award.
      Subject
      to the terms and conditions of this Agreement and the Plan (the terms of which
      are incorporated herein by reference) and effective as of the date set forth
      above, the Company hereby grants to you and you hereby accept the grant of
      ________________________________ (_________) Restricted Stock Units (the
“Units”). Units will be settled only in Shares of common stock of the Company on
      a one Share for one Unit basis, rounded up or down to the nearest whole Share,
      and not in cash. 

     

    2.     Relation
      of Restricted Stock Unit Award to Other Agreement(s).
      As
      an
      express condition to acceptance of this Restricted Stock Unit Award, subject
      to
      the special exception provided under Section 3(g) of this Agreement (which
      governs a Change in Control situation), you agree that: 

     

    (a) Except
      to
      the extent you are or subsequently become a party to a written service or other
      agreement with the Company (such agreement(s), which for the avoidance of doubt,
      do not include any agreements entered into with Affiliates or Subsidiaries
      of
      the Company) (the “Other Agreement”), the only vesting and lapse of forfeiture
      restriction provisions that govern the Restricted Stock Unit Award under this
      Agreement are set forth in Section 3 of this Agreement;

     

    (b) To
      the
      extent that the vesting and lapse of forfeiture restriction provisions of this
      Agreement or the Plan’s terms are inconsistent with an Other Agreement, the
      provisions of your Other Agreement shall govern and control, subject to the
      special exception provided under Section 3(g) of this Agreement (which governs
      a
      Change in Control situation); and

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    (c) Except
      as
      expressly provided in paragraph (b) above, the terms of any Other Agreement
      shall in no way alter or amend, or provide additional rights or benefits, under
      the Restricted Stock Unit Award governed by this Agreement.

     

    3.     Vesting;
      Termination of Restricted Stock Unit Award.

     

    (a) General
      Vesting Rule.
      You
      will
      be issued Shares in settlement of the Units only as you vest in the Units,
      meaning that the Units will be settled in Shares on the day on which you vest
      in
      any portion of the Units (hereinafter referred to as a “Vesting Date”). So long
      as you remain continuously employed by the Company or any Affiliate through
      such
      Vesting Date(s), and except as otherwise set forth in this Section 3, the Units
      shall vest and your right to receive and retain the Shares in settlement of
      such
      Units will become nonforfeitable in accordance with the following
      schedule:

     

    (i) One-third
      of the Units shall vest on December 31, 2007; 

     

    (ii) Another
      one-third of the Units shall vest on December 31, 2008; and

     

    (iii) The
      remaining one-third of the Units shall vest on December 31, 2009.

     

    (b) Termination
      as a Result of Death or Disability.
      In
      the
      event of your termination of employment as a result of your death or Disability
      (as defined in Section 2(q) of the Plan), any unvested Units shall immediately
      vest as of the date of such termination for death or Disability. 

    

    (c) Termination
      as a Result of Involuntary Termination or Resignation for Good
      Reason.
      In
      the
      event of the your termination of employment as a result of your Involuntary
      Termination (as defined in Section 2(aa) of the Plan) or Resignation for Good
      Reason (as defined in Section 2(tt) of the Plan), any unvested Units shall
      immediately vest as of the date of such Involuntary Termination or Resignation
      for Good Reason.

    

    (d) Termination
      as a Result of Retirement.
      In
      the
      event of your termination of employment as a result of your Retirement (which
      for purposes of this Agreement is as defined in Section 2(vv) of the Plan),
      any
      unvested Units shall vest pro-rata as of the date of your termination due to
      Retirement based on the following formula:

    

    (i) the
      total
      number of Units, times
      

     

    (ii) a
      ratio,
      the numerator of which is the total number of months of employment from November
      15, 2006 to the end of the month in which the date of termination due to
      Retirement occurs, and the denominator of which is thirty-seven and one-half
      (37.5), rounded to the nearest whole number; less

     

    (iii) the
      total
      number of Units in which you have previously vested prior to your date of
      Retirement. 

     

    The
      remaining portion of the unvested Units which are not accelerated for vesting
      purposes shall be immediately forfeited. 

    

    
      
        
        

      

      
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    Example:
      The
      following example is included merely for demonstrative purposes. 

    

    Ann
      is
      granted 1,000 Units on November 15, 2006. She will vest in her Units as follows:
      (1) 333 Units on December 31, 2007, (2) 333 Units on December 31, 2008, and
      (3)
      334 Units on December 31, 2009. Ann subsequently announces her Retirement
      effective June 1, 2008. 

    

    As
      of
      June 1, 2008, Ann will immediately vest in additional unvested Units equal
      to
      the amount of 187 (equal to 1,000 Units multiplied
      by 19.5
      months of employment from November 1, 2006 divided
      by 37.5
      reduced
      by 333
      Units
      previously vested). 

    

    (e) Termination
      for Cause.
      In
      the
      event your employment is terminated for Cause (as defined in Section 2(i) of
      the
      Plan), all unvested Units and all Shares received upon settlement of vested
      Units shall expire immediately, be forfeited and considered null and void,
      and
      the provisions of Section 4 of this Agreement shall control. 

     

    (f) Termination –
      General.
      In
      the
      event of your termination of employment other than as a result of your death,
      Disability (as defined in Section 2(q) of the Plan), Involuntary Termination
      (as
      defined in Section 2(aa) of the Plan), Resignation for Good Reason (as defined
      in Section 2(tt) of the Plan), Retirement, or Cause (as defined in Section
      2(i)
      of the Plan), all unvested Units shall expire immediately, be forfeited and
      considered null and void.

    

    (g) Change
      in Control Acceleration.
      In
      the
      event of a Change in Control (as defined in Section 2(j) of the Plan) which
      closes on a date prior to your termination of employment, any unvested Units
      shall immediately become fully vested, effective as of immediately prior to
      consummation of the Change in Control. Notwithstanding the foregoing, to the
      extent that an employment, change in control or other agreement or arrangement
      with the Company or an Affiliate provides benefits of greater value upon a
      Change in Control that those provided in this paragraph (g), the rights set
      forth in such other agreement shall supersede the provisions of this paragraph
      (g). Comparatively, to the extent that an employment, change in control or
      other
      agreement or arrangement with the Company or an Affiliate provides benefits
      of
      lesser value upon a Change in Control that those provided in this paragraph
      (g),
      the rights set forth in this paragraph (g) shall supersede the provisions of
      such other agreement.

     

    (h) Other
      Termination Events.
      Notwithstanding
      anything to the contrary contained in this Agreement, the Units will terminate
      and expire immediately upon the occurrence of the circumstances set forth in
      Section 11.2 of the Plan, and the provisions of Section 4 of this Agreement
      shall control.

     

    (i) Forfeiture
      Price.
      In
      the
      event that any Shares previously issued to you on settlement of the Units are
      required to be forfeited under Section 3(e) or Section 3(h), then the Company
      will have the right (but not the obligation) to repurchase any or all of such
      forfeited Shares for $0.001 per Share. The Company will have ninety (90) days
      from the date of any event giving rise to forfeiture under Section 3(e) or
      Section 3(h), as the case may be, within which to effect a repurchase of any
      or
      all of the Shares subject to such forfeiture conditions. The Company’s right to
      repurchase the Shares under this paragraph (i) is assignable by the Company,
      in
      its sole discretion, to an Affiliate or other party to whom such rights can
      be
      assigned under the Applicable Laws (as defined in Section 2(c) of the
      Plan).

     

    
      
        
        

      

      
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    4.     Forfeiture
      Events.
      In
      addition to the rights available to the Company under Section 3(i) immediately
      above, upon the occurrence of any of the events set forth in Section 11.2 of
      the
      Plan (a “Forfeiture Event”), you, without any further action by the Company or
      you, shall forfeit, as of the first day of any such Forfeiture
      Event:

     

    (a) all
      right, title and interest to these Units; 

     

    (b) any
      Shares received upon settlement of these Units then owned by you; and

     

    (c) any
      and
      all profits realized by you, on an after-tax basis, pursuant to any sales or
      transfer of any Shares received upon settlement of these Units within the six
      (6) month period prior to the date of such Forfeiture Event. 

     

    Additionally,
      the Company shall have the right to issue a stop transfer order and other
      appropriate instructions to its transfer agent with respect to this Unit and
      the
      Shares, and the Company further shall be entitled to reimbursement from you
      of
      any fees and expenses (including attorneys’ fees) incurred by or on behalf of
      the Company in enforcing the Company’s rights under this Section 4. By accepting
      this Restricted Stock Unit Award, you hereby consent to a deduction from any
      amounts the Company owes to you from time to time (including amounts owed to
      you
      as compensation as well as any other amounts owed to you by the Company), to
      the
      extent of any amounts that you owe to the Company under this Section 4. Whether
      or not the Company elects to make any set-off in whole or in part, if the
      Company does not recover by means of set-off the full amount you owe to the
      Company, calculated as set forth above, you agree to pay immediately the unpaid
      balance to the Company. 

     

    5.     Share
      Certificates.
      Share
      certificates (the “Certificate”) evidencing the settlement of Units into Shares
      will be issued only at your request and the Shares will be issued and registered
      in your name as of the Vesting Date (such date being the end of the “Restricted
      Period”) on the register of shareholders of the Company (through its transfer
      agent). If the Shares are to be issued in certificated form, then subject to
      Section 7 of this Agreement, Certificates representing the Shares will be
      delivered to you as soon as practicable after the end of the applicable
      Restricted Period.

     

    6.     Changes
      in Company’s Capital Structure.
      Subject
      to any required action by the Company’s Board and stockholders, as may be
      determined to be appropriate and equitable by the Committee, to prevent dilution
      or enlargement of rights, the Committee shall:

     

    (a) adjust
      proportionately the number of Units for any increase or decrease in the number
      of issued and outstanding shares of common stock resulting from a subdivision
      or
      combination of such shares or the payment of a stock dividend or any other
      increase or decrease in the number of such outstanding shares of common stock
      of
      the Company effected without the receipt of consideration by the Company; and
      

     

    (b) if
      the
      Company is a participating corporation in any merger or consolidation and
      provided the Units are not terminated upon consummation of such merger or
      consolidation, modify such Units to pertain to and apply to the securities
      or
      other property to which a holder of the number of shares subject to the Units
      would have been entitled upon such consummation. 

     

    
      
        
        

      

      
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    Notwithstanding
      anything to the contrary, such adjustments by the Committee shall be final,
      binding and conclusive. 

     

    7.     Tax
      Withholding Obligations.
      As
      a
      condition to receipt of Shares upon settlement of the Units, you acknowledge
      your obligation with respect to any tax or similar withholding obligations
      that
      may arise in connection with receipt or vesting of the Units and/or receipt
      of
      the Shares. Pursuant to Article 20 of the Plan, you may satisfy withholding
      tax
      obligations through either (a) giving instructions to a broker for the sale
      on
      the open market of a sufficient number of Shares to pay the applicable
      withholding tax or (b) depositing with the Company an amount of funds equal
      to
      the estimated withholding tax liability. If you fail to satisfy such obligations
      in either of these ways, the Company may require that the Shares otherwise
      scheduled to be settled upon vesting of the Units on any given date be
      forfeited. You understand that the Company’s rights to ensure satisfaction of
      applicable withholding obligations with respect to the settlement of Units
      may
      require planning on your part, in advance of the expected Vesting Date(s)
      specified in Section 3 above. The Company will not deliver any of the Shares
      until and unless you have made proper provision for all applicable tax and
      similar withholding obligations.

     

    8.     US
      Tax Consequences.
      Below
      is
      a brief summary as of the date of this Restricted Stock Unit Award of certain
      United States federal tax consequences of the award of the Units and disposition
      of the Shares upon settlement of the Units under the laws in effect as of the
      date of grant. THIS
      SUMMARY IS INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE.
      PARTICIPANT SHOULD CONSULT A TAX ADVISER BEFORE SETTLEMENT OF THIS RESTRICTED
      STOCK UNIT AWARD OR DISPOSING OF THE SHARES. There
      may
      be a regular federal (and state) income tax liability when the Units vest on
      the
      Vesting Date(s). You will be treated as having received compensation income
      (taxable at ordinary income tax rates) equal to the current Fair Market Value
      of
      the Shares underlying the Units on the date of vesting (i.e.,
      when
      the forfeiture provisions lapse). If Shares issued upon vesting of this
      Restricted Stock Unit Award are held for at least one year, any gain realized
      on
      disposition of those Shares will be treated as long-term capital gain for
      federal income tax purposes. You are obligated as a condition of receiving
      this
      Restricted Stock Unit Award to satisfy any applicable withholding obligations
      that apply thereto.

     

    9.     Effect
      of Agreement.
      You
      acknowledge receipt of a copy of the Plan and represent that you are familiar
      with the terms and provisions thereof (and have had an opportunity to consult
      counsel regarding the Units’ terms), and hereby accept this Restricted Stock
      Unit Award and agree to be bound by its contractual terms as set forth herein
      and in the Plan. You hereby agree to accept as binding, conclusive and final
      all
      decisions and interpretations of the Committee (as defined in Section 2(m)
      of
      the Plan) regarding any questions relating to the Units. In the event of a
      conflict between the terms and provisions of the Plan and the terms and
      provisions of this Agreement, the Plan terms and provisions shall prevail.
      

     

    10.    Restriction
      on Transferability.
      Until
      settlement of the Units upon issuance to you of the Shares subject thereto,
      the
      Units may not be sold, transferred, pledged, assigned or otherwise alienated
      at
      any time. Any attempt to do so contrary to the provisions hereof shall be null
      and void. Notwithstanding the above and subject to Section 12 below,
      distribution can be made pursuant to will, the laws of descent and distribution,
      intra-family transfer instruments or to an inter vivos trust.

     

    
      
        
        

      

      
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    11.    Voting
      Rights.
      You
      will
      have no voting or any other rights as a shareholder of the Company with respect
      to the Units prior to the date on which you are issued the Shares in settlement
      thereof. Upon settlement of the Units into Shares, you will obtain full voting
      and other rights as a shareholder of the Company.

     

    12.    Designation
      of Beneficiaries.
      You
      may,
      in accordance with procedures established by the Committee (as defined in
      Section 2(m) of the Plan), designate one or more beneficiaries to receive all
      or
      part of any Shares to be distributed to you hereunder on settlement of Units
      in
      the case of your death, and you may change or revoke such designation at any
      time. In the event of your death, any Shares distributable hereunder that are
      subject to such a designation (to the extent such a designation is enforceable
      under the Applicable Laws (as defined in Section 2(c) of the Plan)) will be
      distributed to such beneficiary or beneficiaries in accordance with this
      Agreement. Any other Shares distributable will be distributed to your estate.
      If
      there is any question as to the legal right of any beneficiary to receive a
      distribution hereunder, the amount in question will be paid over to your estate,
      in which event neither the Company nor any affiliate of the Company will have
      any further liability to anyone with respect to such amount.

     

    13.    Amendment
      of Restricted Stock Unit Award.
      The
      Committee may at any time amend, alter, suspend or discontinue the Plan, but
      no
      amendment, alteration, suspension or discontinuation (other than as explicitly
      permitted under the Plan) shall be made that would adversely affect your rights
      under this Agreement without your consent.

     

    14.    Governing
      Law.
      The
      laws
      of the state of New Jersey, without giving effect to principles of conflicts
      of
      law, will apply to the Plan, this Restricted Stock Unit Award and this
      Agreement. The Company agrees, and you agree as a condition to acceptance of
      the
      Restricted Stock Unit Award, to submit to the jurisdiction of the courts located
      in the jurisdiction in which you are employed, or were most recently employed,
      by the Company.

     

    15.    Data
      Protection.
      You
      acknowledge and agree (by executing this Agreement) to the collection, use,
      processing and transfer of certain personal data as described in this Section
      15. You understand that you are not obliged to consent to such collection,
      use,
      processing and transfer of personal data. However, you understand your failure
      to provide such consent may affect your ability to participate in the Plan.
      You
      understand that the Company may hold certain personal information about you,
      including your name, social security number (or other tax identification number)
      salary, nationality, job title, position evaluation rating along with details
      of
      all past awards and current awards outstanding under the Plan, for the purpose
      of managing and administering the Plan (the “Data”). The Company, or its
      Affiliates, will transfer Data amongst themselves as necessary for the purpose
      of implementation, administration and management of the Plan. The Company and/or
      any of it Affiliates may further transfer Data to any third parties assisting
      the Company in the implementation, administration and management of the Plan.
      These various recipients of Data may be located elsewhere throughout the world.
      You authorize these various recipients of Data to receive, possess, use, retain
      and transfer the Data, in electronic or other form, for the purposes of
      implementing, administering and managing the Plan, including any required
      transfer of such Data as may be required for the subsequent holding of Shares
      subject to the Unit on your behalf by a broker or other third party with whom
      you may elect to deposit any Shares subject to the Unit acquired pursuant to
      the
      Plan. You understand that you may, at any time, review Data with respect to
      you
      and require any necessary amendments to such Data. You also understand that
      you
      may withdraw the consents to use Data herein by notifying the Company in
      writing; however, you understand that by withdrawing your consent to use Data,
      you may affect your ability to participate in the Plan.

     

    
      
        
        

      

      
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    16.    Employment
      Matters.
      This
      Restricted Stock Unit Award does not form part of your entitlement to
      remuneration or benefits in terms of your employment by the Company. Your terms
      and conditions of employment are not affected or changed in any way by this
      Restricted Stock Unit Award or by the terms of the Plan or this Agreement.
      No
      provision of this Agreement or of the Restricted Stock Unit Award granted
      hereunder shall give you any right to continue in the employment of the Company
      or any Affiliate, create any inference as to the length of your employment,
      affect the right of the Company or any Affiliate to terminate your employment,
      with or without Cause (as defined in Section 2(i) of the Plan), or give you
      any
      right to participate in any employee welfare or benefit plan or other program
      (other than the Plan) of the Company or any Affiliate. You acknowledge and
      agree
      (by executing this Agreement) that the granting of the Restricted Stock Unit
      Award under this Agreement is made on a fully discretionary basis by the Company
      and that this Agreement does not lead to a vested right to further awards in
      the
      future. Further, the Restricted Stock Unit Award set forth in this Agreement
      constitutes a non-recurrent benefit and the terms of this Agreement are only
      applicable to the Units awarded pursuant to this Agreement.

     

    17.    Tax
      Provisions Applicable to Non-US Persons.
      This
      Section 17 shall apply to you if you are resident in and/or subject to the
      laws
      of a country other than the United States at the time of grant of the Restricted
      Stock Unit Award and during the period in which you hold this Restricted Stock
      Unit Award or the Shares issued upon settlement thereof.

     

    (a) Applicable
      if you are not a US person (including as to UK persons):
      You
      hereby agree to indemnify and keep indemnified the Company and any Affiliate
      from and against any liability for, or obligation to pay, income tax and
      employer’s and/or employee’s national insurance or social security contributions
      arising on the grant of the Restricted Stock Unit Award, vesting of the
      Restricted Stock Unit Award or the issuance of the Shares upon
      settlement.

     

    (b) Applicable
      if you are a UK person:
      Where
      any
      obligation to pay income tax or employee’s national insurance contributions or
      social security contributions (any such obligation or contribution, a “Tax
      Liability”) arises, the Company or any Affiliate may recover from you an amount
      of money sufficient to meet the Tax Liability by any of the following
      arrangements: 

     

    (i) deduction
      from salary or other payments due to you; or 

     

    (ii) withholding
      from the issuance to you of that number of Shares (otherwise to be acquired
      by
      you upon settlement of the Units) whose aggregate Fair Market Value on the
      date
      of exercise is, so far as possible, equal to but neither less than nor more
      than
      the amount of Tax Liability.

     

    If
      the
      Participant is unable to satisfy his or her Tax Liability pursuant to either
      subparagraph (i) or clause (ii) above, the Company may additionally cause the
      forfeiture of any Shares otherwise scheduled to become vested under the
      Restricted Stock Unit Award on a given date to avoid imposition of any Tax
      Liability to the Participant. 

     

    18.    Severability.
      In the
      event that any provision of this Agreement shall be held illegal or invalid
      for
      any reason, the illegality or invalidity shall not affect the remaining parts
      of
      this Agreement, and this Agreement shall be construed and enforced as if the
      illegal or invalid provision had not been included.

     

    
      
        
        

      

      
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    19.    Waiver;
      Cumulative Rights.
      The
      failure or delay of either party to require performance by the other party
      of
      any provision hereof shall not affect its right to require performance of such
      provision unless and until such performance has been waived in writing. Each
      and
      every right hereunder is cumulative and may be exercised in part or in whole
      from time to time.

     

    20.    Representations.
      As
      a
      condition to your receipt of this Restricted Stock Unit Award and the Shares
      to
      be issued on settlement thereof, you represent and warrant the following:

     

    (a) You
      are
      aware of the Company’s business affairs and financial condition and have
      acquired sufficient information about the Company to reach an informed and
      knowledgeable decision to accept this Restricted Stock Unit Award; 

     

    (b) You
      are
      acquiring the Restricted Stock Unit Award and the Shares subject thereto for
      investment only for your own account, and not with a view, or for resale in
      connection with, any “distribution” thereof under Applicable Law (as defined in
      Section 2(c) of the Plan); 

     

    (c) You
      understand that neither the Units nor the Shares have been registered in all
      State jurisdictions within the United States, and that the exemption(s) from
      registration relied upon may depend upon your investment intent as set forth
      above; 

     

    (d) You
      further understand that prior to any resale by you of the Shares acquired upon
      settlement of these Units without registration of such resale in relevant State
      jurisdictions, the Company may require you to furnish the Company with an
      opinion of counsel acceptable to the Company that you may sell or transfer
      such
      Shares pursuant to an available exemption under Applicable Law; 

     

    (e) You
      understand that the Company is under no obligation to assist you in this process
      by registering the Shares in any jurisdiction or by ensuring that an exemption
      from registration is available; and 

     

    (f) You
      further agree that as a condition to settlement of these Units, the Company
      may
      require you to furnish contemporaneously dated representations similar to those
      set forth in this Section 20.

     

    21.    Compliance
      with Code §409A.
      For
      avoidance of doubt, and anything else contained herein to the contrary
      notwithstanding, if the Company determines in good faith that the settlement
      of
      Units pursuant to this Agreement constitutes deferred compensation subject
      to
§409A of the Internal Revenue Code and the regulations and other guidance issued
      pursuant thereto (“§409A”) then the following shall apply:

     

    (a) Settlement
      of Units shall in no event occur later than two and one-half months following
      the end of the year in which the Vesting Date occurs;

     

    (b) Settlement
      of Units shall not be accelerated to a time earlier than the time at which
      the
      Units would otherwise have been settled pursuant to this Agreement, whether
      by
      amendment of this Agreement or otherwise, unless such acceleration is permitted
      by §409A; and 

     

    
      
        
        

      

      
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    (c) If
      any
      other provision of this Agreement or the Plan relating to the time or manner
      of
      settlement of Units would otherwise cause any amount to be subject to tax under
      §409A, the Company shall have the authority to revise the Agreement to the
      minimum extent, as determined by the Company in good faith, necessary to satisfy
      the requirements of §409A; provided, however, that nothing contained herein
      shall be construed to impose on the Company any liability for any tax imposed
      on
      you by §409A.

     

    By
      your
      signature below, you indicate your acceptance of the terms of this Restricted
      Stock Unit Award, and acknowledge that you have received copies of the Plan
      and
      the prospectus, in each case as currently in effect. By signing this Agreement,
      you acknowledge that your personal information regarding participation in the
      Plan and information necessary to determine and pay, if applicable, benefits
      under the Plan must be shared with other entities, including companies related
      to the Company and persons responsible for certain acts in the administration
      of
      the Plan. By signing this Agreement, you consent to such transmission of
      personal data as the Company believes is appropriate to administer the
      Plan.

     

    
      	Accepted
              and Agreed to by Participant:	 
	 	Participant
	 	 
	
              Acknowledged
                and Agreed to by Company:

            	 
	 	
              Raymond J. Milchovich

              Chairman, President &
                CEO

            

    

     

    
      
        
        

      

      
        9FOSTER
      WHEELER LTD. OMNIBUS INCENTIVE PLAN

     

    Notice
      of Director Nonqualified Stock Option Grant

     

    Director:
      __________________________

     

    Pursuant
      to the attached Director Nonqualified Stock Option Agreement, you have been
      granted a nonqualified stock option to purchase shares of common stock, $.01
      par
      value per share (a “Share”), of Foster Wheeler Ltd., a Bermuda company (the
“Company”) as follows:

     

    
      	
              Board
                Approval Date: 

            	
              November
                15, 2006

            
	 	 
	
              Date
                of Grant:

            	
              November
                15, 2006

            
	 	 
	
              Exercise
                Price Per Share:

            	
              $________
                per Common Share

            
	 	 
	
              Total
                Number of Shares Subject to this Option:

            	
              ________________
                shares of common stock

            
	 	 
	
              Type
                of Option:

            	
              Nonqualified
                Stock Option

            
	 	 
	
              Expiration
                Date:

            	
              December
                31, 2011

            
	 	 
	
              Vesting/Exercise
                Schedule:

               

            	
              So
                long as you provide continuous service to the Company or any Affiliate,
                and except as otherwise set forth in Section 5 of the Option Agreement,
                the Shares underlying this Option shall vest and become exercisable
                on
                December 31, 2007.

            
	 	 
	
              Termination
                Period:

               

            	
              Following
                your termination of service with the Company and all its Affiliates,
                the
                Option may be exercised, but only as to Shares that were vested on
                the
                date of such termination, through the Expiration Date set forth above;
                provided, however, the Option may terminate as
                of an earlier date in
                connection with certain events as set forth in the Plan and in Section
                5
                of the Option Agreement.

               

              You
                are responsible for keeping track of the periods during which the
                Option
                may be exercised, including those periods that apply following your
                termination of service with the Company and all its Affiliates for
                any
                reason. The Company will not provide further notice of such exercise
                periods.

            
	 	 
	
              Transferability:

            	
              Unless
                otherwise provided in the Option Agreement or the Plan, this Option
                may
                not be transferred.

            

    

    

    By
      your
      signature and the signature of the Company’s representative below, you and the
      Company agree that this Option is granted under and governed by the terms and
      conditions of the Foster Wheeler Ltd. Omnibus Incentive Plan and the Director
      Nonqualified Stock Option Agreement, both of which are attached and made a
      part
      of this document.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    In
      addition, you agree and acknowledge that your rights to any Shares underlying
      the Option vest only as you provide services to the Company or its Affiliates
      over time, that the grant of the Option is not as consideration for services
      you
      rendered to the Company or its Affiliates prior to your Date of Grant, and
      that
      nothing in this Notice or the attached documents confers upon you any right
      to
      continue your service relationship with the Company or its Affiliates for any
      period of time, nor does it interfere in any way with your right or the
      Company’s (or its Affiliates’) right to terminate that relationship at any time,
      for any reason, with or without cause.

    
       

      
        	
                 

                 

                 

                 

                 

              	 	
                 

                FOSTER
                  WHEELER LTD.

                 

                 

                 

              
	
                Participant

              	 	
                By:
                  Raymond J. Milchovich

                Its:
                  Chairman, President &
CEO

              

      

      
 

    

    
      
        
        

      

      
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    FOSTER
      WHEELER LTD. OMNIBUS INCENTIVE PLAN

     

    Director
      Nonqualified Stock Option Agreement

     

    1.     Grant
      of Option.
      Foster
      Wheeler Ltd., a Bermuda company (the “Company”),
      hereby grants to ___________________ (“Optionee”),
      an
      option (the “Option”)
      to
      purchase the total number of shares of common stock (the “Shares”)
      subject to the Option, set forth in the Notice of Director Nonqualified Stock
      Option Grant (the “Notice”),
      at
      the exercise price per Share set forth in the Notice (the “Exercise
      Price”),
      subject to the terms, definitions and provisions of the Foster Wheeler Ltd.
      Omnibus Incentive Plan (the “Plan”)
      adopted by the Company, which is incorporated in this Director Nonqualified
      Stock Option Agreement (the “Option
      Agreement”)
      by
      reference. Unless otherwise defined in this Option Agreement, the terms used
      in
      this Option Agreement shall have the meanings defined in the Plan; provided,
      however,
      that the
      term “Shares” as defined above shall be interpreted to refer to the specific
      number of shares set forth in the Notice but shall otherwise have the meaning
      set forth in Section 2(ww) of the Plan. This Option Agreement shall be deemed
      executed by the Company and Optionee upon execution by such parties of the
      Notice.

     

    2.     Designation
      of Option.
      This
      Option is intended to be a Nonqualified Stock Option (as defined in Section
      2(bb) of the Plan).

     

    3.     Exercise
      of Option.
      This
      Option shall be exercisable during its term in accordance with the
      Vesting/Exercise Schedule set out in the Notice and with the provisions of
      Section 5 of this Option Agreement as follows:

     

    (a) Right
      to Exercise.

     

    (i) This
      Option may not be exercised for a fraction of a share of common
      stock.

     

    (ii) In
      the
      event of Optionee’s death, Disability (as defined in Section 2(q) of the Plan)
      or other termination of service, the exercisability of the Option is governed
      by
      Section 5 below, subject to the limitations contained in this Section
      3.

     

    (iii) In
      no
      event may this Option be exercised after the Expiration Date of the Option
      as
      set forth in the Notice.

     

    (b) Method
      of Exercise.

     

    (i) This
      Option shall be exercisable by delivering to the Company a written Notice of
      Exercise (containing the information described in Exhibit
      A
      hereto,
      in the form attached as Exhibit
      A,
      or in
      any other form acceptable to the Committee) which shall state Optionee’s
      election to exercise the Option, the number of Shares in respect of which the
      Option is being exercised, and such other representations and agreements as
      to
      the holder’s investment intent with respect to such Shares as may be required by
      the Company pursuant to the provisions of the Plan. Such written notice shall
      be
      signed by Optionee and shall be delivered to the Company by such means as are
      determined by the Committee in its discretion to constitute adequate delivery.
      The written notice shall be accompanied by payment of the Exercise Price. This
      Option shall be deemed to be exercised upon receipt by the Company of such
      written notice accompanied by payment of the Exercise Price.

     

    
      
        
        

      

      
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    (ii) The
      Company is not obligated, and will have no liability for failure, to issue
      or
      deliver any Shares upon exercise of the Option unless such issuance or delivery
      would comply with the Applicable Laws (as defined in Section 2(c) of the Plan),
      with such compliance determined by the Company in consultation with its legal
      counsel. This Option may not be exercised if the issuance of such Shares upon
      such exercise or the method of payment of consideration for such shares would
      constitute a violation of any applicable federal or state securities or other
      law or regulation, including any rule under Part 221 of Title 12 of the Code
      of
      Federal Regulations as promulgated by the Federal Reserve Board, or other
      Applicable Laws. As a condition to the exercise of this Option, the Company
      may
      require Optionee to make any representation and warranty to the Company as
      may
      be required by the Applicable Laws. Assuming such compliance, for income tax
      purposes the Shares shall be considered transferred to Optionee on the date
      on
      which the Option is exercised with respect to such Shares. The Company may
      postpone issuing and delivering any Shares for so long as the Company reasonably
      determines to be necessary to satisfy the following: 

     

    (A) its
      completing or amending any securities registration or qualification of the
      Shares or its or the Optionee’s satisfying any exemption from registration under
      any federal or state law, rule or regulation; 

     

    (B) its
      receiving proof it considers satisfactory that a person seeking to exercise
      the
      Option after the Optionee’s death is entitled to do so; 

     

    (C) the
      Optionee complying with any requests for representations under the Plan;
      and

     

    (D) its
      compliance with the restrictions of Code Section 409A to the extent applicable,
      including any final regulations issued pursuant thereto, including the
      Committee’s right to amend any provision of this Option Agreement to the extent
      necessary to comply with Code Section 409A.

     

    4.     Method
      of Payment.
      Payment
      of the Exercise Price (in US dollars) shall be by any of the following, or
      a
      combination of the following, at the election of Optionee:

     

    (a) cash
      or
      cashier’s check; 

     

    (b) through
      a
      cashless (broker-assisted) exercise; or 

     

    (c) a
      combination of paragraphs (a) and (b) immediately above.

     

    5.     Termination
      of Relationship; Vesting Acceleration on Certain Events.
      Following
      the date of the Optionee’s termination of service for any reason (the
“Termination
      Date”),
      Optionee may exercise the Option only as set forth in the Notice and this
      Section 5. To the extent that Optionee is not vested in the Shares as of his
      or
      her Termination Date, the Option shall terminate as to unvested Shares as of
      the
      Termination Date. If Optionee does not exercise this Option as to vested Shares
      prior to the earlier of the Expiration Date of the Option as set forth in the
      Notice or the relevant dates specified below in this Section 5, the Option
      shall
      terminate in its entirety. In no event, may the Option be exercised as to any
      Shares after the Expiration Date of the Option as set forth in the
      Notice.

     

    
      
        
        

      

      
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    (a) Termination
      as a Result of Death or Disability.
      In
      the
      event of the Optionee’s termination of service as a result of his or her death
      or Disability (as defined in Section 2(q) of the Plan), any unvested Shares
      under the Option shall immediately become fully vested and exercisable and
      all
      remaining Shares subject to the Option shall remain exercisable until the
      earlier of:

    

    (i) the
      Expiration Date; or 

     

    (ii) the
      one
      (1) year anniversary of the day the Optionee terminates service due to death
      or
      Disability.

     

    In
      the
      event of the Optionee’s death, the Optionee’s beneficiary or estate may exercise
      the vested Shares under the Option. 

    

    (b) Termination
      for Cause.
      In
      the
      event the Optionee’s service is terminated for Cause (as defined in Section 2(i)
      of the Plan), all unvested Shares under the Option and all unexercised, vested
      Shares under the Option shall expire immediately, be forfeited and considered
      null and void, and the provisions of Section 9 of this Agreement shall control.
      

     

    (c) Termination
      -- General.
      In
      the
      event of the Optionee’s termination of service other than as a result of
      Optionee’s death, Disability (as defined in Section 2(q) of the Plan) or Cause
      (as defined in Section 2(i) of the Plan), the vesting of the Option shall
      accelerate such that Optionee shall be vested in and able to exercise the Option
      as of the Termination Date as to that number of Shares subject to the Option
      that equals the product of:

     

    (i) the
      total
      number of Shares subject to the Option, times
      

     

    (ii) a
      ratio,
      the numerator of which is the total number of months of service from October
      1,
      2006 to the end of the month in which the date of termination of service occurs,
      and the denominator of which is fifteen (15), rounded to the nearest whole
      number. 

     

    The
      remaining portion of the unvested and unexercisable Option which is not
      accelerated for vesting purposes shall be immediately forfeited. 

    

    Example:
      The
      following example is included merely for demonstrative purposes. 

    

    Ann,
      a
      director, is granted 1,000 Options on November 15, 2006. She will vest 100%
      in
      her Options on December 31, 2007. Ann subsequently announces her termination
      of
      service effective June 1, 2007. 

    

    As
      of
      June 1, 2007, Ann will immediately vest in Shares underlying the unvested
      Options equal to the amount of 600 (equal to 1,000 Options multiplied
      by 9
      (i.e.,
      9
      months of service from October 1, 2006) divided
      by 15.
      

     

    
      
        
        

      

      
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    All
      Shares under the Option which become immediately vested and exercisable pursuant
      to this paragraph (c) shall remain exercisable until the earlier
      of:

    

    (A) the
      Expiration Date; or 

    

    (B) the
      date
      which is thirty (30) days after the day the Optionee terminates service for
      reasons other than as a result of Optionee’s death, Disability (as defined in
      Section 2(q) of the Plan) or Cause (as defined in Section 2(i) of the
      Plan).

    

    (d) Change
      in Control Acceleration.
      In
      the
      event of a Change in Control (as defined in Section 2(j) of the Plan) which
      closes on a date prior to an Optionee’s termination of service, any unvested
      Shares under the Option shall immediately become fully vested and exercisable
      and all remaining Shares subject to the Option shall remain exercisable through
      their Expiration Date, effective as of immediately prior to consummation of
      the
      Change in Control. Notwithstanding the foregoing, to the extent that a service,
      change in control or other agreement or arrangement with the Company or an
      Affiliate provides benefits of greater value upon a Change in Control that
      those
      provided in this paragraph (d), the rights set forth in such other agreement
      shall supersede the provisions of this paragraph (d). Comparatively, to the
      extent that a service, change in control or other agreement or arrangement
      with
      the Company or an Affiliate provides benefits of lesser value upon a Change
      in
      Control that those provided in this paragraph (d), the rights set forth in
      this
      paragraph (d) shall supersede the provisions of such other
      agreement.

     

    (e) Other
      Termination Events.
      Notwithstanding
      anything to the contrary contained in this Option Agreement, the Option will
      terminate and expire immediately upon the occurrence of the circumstances set
      forth in Section 11.2 of the Plan, and the provisions of Section 9 of this
      Agreement shall control.

     

    6.     Relation
      of Other Agreement(s) to Option.
      As
      an
      express condition to acceptance of this Option, subject to the special exception
      provided under Section 5(d) of this Option Agreement (which governs a Change
      in
      Control situation), you agree that: 

     

    (a) Except
      to
      the extent you are or subsequently become a party to a written service or other
      agreement with the Company (such agreement(s), which for the avoidance of doubt,
      do not include any agreements entered into with Affiliates or Subsidiaries
      of
      the Company) (the “Other Agreement”), the only vesting and lapse of forfeiture
      restriction provisions that govern the Option under this Option Agreement are
      set forth in Section 5 of this Option Agreement;

     

    (b) To
      the
      extent that the vesting and lapse of forfeiture restriction provisions of this
      Agreement or the Plan’s
      terms
      are inconsistent with an Other Agreement, the provisions of your Other Agreement
      shall govern and control, subject to the special exception provided under
      Section 5(d) of this Option Agreement (which governs a Change in Control
      situation); and

     

    
      
        
        

      

      
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    (c) Except
      as
      expressly provided in paragraph (b) above, the terms of any Other Agreement
      shall in no way alter or amend, or provide additional rights or benefits, under
      the Option governed by this Option Agreement.

     

    7.     Non-Transferability
      of Option.
      This
      Option may not be transferred in any manner otherwise than by will or by the
      laws of descent or distribution and may be exercised during the lifetime of
      Optionee only by him or her. The terms of this Option shall be binding upon
      the
      executors, administrators, heirs, successors and assigns of
      Optionee.

     

    8.     Changes
      in Company’s Capital Structure.
      Subject
      to any required action by the Company’s Board and stockholders, as may be
      determined to be appropriate and equitable by the Committee, to prevent dilution
      or enlargement of rights, the Committee shall:

     

    (a) adjust
      proportionately the number of Shares covered by the Option and the Exercise
      Price for any increase or decrease in the number of issued and outstanding
      shares of common stock resulting from a subdivision or combination of such
      shares or the payment of a stock dividend or any other increase or decrease
      in
      the number of such outstanding shares of common stock of the Company effected
      without the receipt of consideration by the Company; and 

     

    (b) if
      the
      Company is a participating corporation in any merger or consolidation and
      provided the Option is not terminated upon consummation of such merger or
      consolidation, modify such Option to pertain to and apply to the securities
      or
      other property to which a holder of the number of shares subject to the
      unexercised portion of this Option would have been entitled upon such
      consummation. 

     

    Notwithstanding
      anything to the contrary, such adjustments by the Committee shall be final,
      binding and conclusive. 

     

    9.     Forfeiture
      Events.
      Upon the
      occurrence of any of the events set forth in Section 11.2 of the Plan (a
“Forfeiture Event”), Optionee, without any further action by the Company or
      Optionee, shall forfeit, as of the first day of any such Forfeiture
      Event:

     

    (a) all
      right, title and interest to this Option; 

     

    (b) any
      Shares issued upon exercise of the Option then owned by the Optionee; and

     

    (c) any
      and
      all profits realized by the Optionee, on an after-tax basis, pursuant to any
      sales or transfer of any Shares previously subject to the Option within the
      six
      (6) month period prior to the date of such Forfeiture Event. 

     

    Additionally,
      the Company shall have the right to issue a stop transfer order and other
      appropriate instructions to its transfer agent with respect to this Option
      and
      the Shares, and the Company further shall be entitled to reimbursement from
      the
      Optionee of any fees and expenses (including attorneys’ fees) incurred by or on
      behalf of the Company in enforcing the Company’s rights under this Section 9. By
      accepting this Option Grant, the Optionee hereby consents to a deduction from
      any amounts the Company owes to Optionee from time to time (including amounts
      owed to the Optionee as compensation as well as any other amounts owed to
      Optionee by the Company), to the extent of any amounts that the Optionee owes
      to
      the Company under this Section 9. Whether or not the Company elects to make
      any
      set-off in whole or in part, if the Company does not recover by means of set-off
      the full amount the Optionee owes to the Company, calculated as set forth above,
      the Optionee agrees to pay immediately the unpaid balance to the
      Company.

     

    
      
        
        

      

      
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    10.    US
      Tax Consequences.
      Below
      is
      a brief summary as of the date of this Option of certain United States federal
      tax consequences of exercise of this nonqualified stock option and disposition
      of the Shares under the laws in effect as of the Date of Grant. THIS
      SUMMARY IS INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE.
      OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING
      OF THE SHARES. There
      may
      be a regular federal (and state) income tax liability upon your exercise of
      the
      Option. You will be treated as having received compensation income (taxable
      at
      ordinary income tax rates) equal to the excess, if any, of the Fair Market
      Value
      of the Shares on the date of exercise over the Exercise Price. If Shares issued
      upon exercise of this Option are held for at least one year, any gain realized
      on disposition of those Shares will be treated as long-term capital gain for
      federal income tax purposes. 

     

    11.    Effect
      of Agreement.
      Optionee
      acknowledges receipt of a copy of the Plan and represents that he or she is
      familiar with the terms and provisions thereof (and has had an opportunity
      to
      consult counsel regarding the Option terms), and hereby accepts this Option
      and
      agrees to be bound by its contractual terms as set forth herein and in the
      Plan.
      Optionee hereby agrees to accept as binding, conclusive and final all decisions
      and interpretations of the Committee (as defined in Section 2(m) of the Plan)
      regarding any questions relating to the Option. In the event of a conflict
      between the terms and provisions of the Plan and the terms and provisions of
      the
      Notice and this Option Agreement, the Plan terms and provisions shall prevail.
      

     

    12.    Governing
      Law.
      The
      laws
      of the state of New Jersey, without giving effect to principles of conflicts
      of
      law, will apply to the Plan, to the Option and the Option Agreement (including
      the Notice). The Company agrees, and Optionee agrees as a condition to
      acceptance of the Option, to submit to the jurisdiction of the courts located
      in
      the jurisdiction in which the Optionee provides, or most recently provided,
      his
      or her primary services to the Company.

     

    13.    Data
      Protection.
      Optionee
      acknowledges and agrees (by executing this Option Agreement) to the collection,
      use, processing and transfer of certain personal data as described in this
      Section 13. The Optionee understands that he or she is not obliged to consent
      to
      such collection, use, processing and transfer of personal data. However, the
      Optionee understands that his or her failure to provide such consent may affect
      his or her ability to participate in the Plan. The Optionee understands that
      the
      Company may hold certain personal information about the Optionee, including
      his
      or her name, social security number (or other tax identification number),
      salary, nationality, position title, position evaluation rating along with
      details of all past awards and current awards outstanding under the Plan, for
      the purpose of managing and administering the Plan (the “Data”). The Company, or
      its Affiliates, will transfer Data amongst themselves as necessary for the
      purpose of implementation, administration and management of the Plan. The
      Company and/or any of it Affiliates may further transfer Data to any third
      parties assisting the Company in the implementation, administration and
      management of the Plan. These various recipients of Data may be located
      elsewhere throughout the world. The Optionee authorizes these various recipients
      of Data to receive, possess, use, retain and transfer the Data, in electronic
      or
      other form, for the purposes of implementing, administering and managing the
      Plan, including any required transfer of such Data as may be required for the
      subsequent holding of Shares subject to the Option on the Optionee’s behalf by a
      broker or other third party with whom the Optionee may elect to deposit any
      Shares subject to the Option acquired pursuant to the Plan. The Optionee
      understands that he or she may, at any time, review Data with respect to the
      Optionee and require any necessary amendments to such Data. The Optionee also
      understands that he or she may withdraw the consents to use Data herein by
      notifying the Company in writing; however, the Optionee understands that by
      withdrawing his or her consents to use Data, the Optionee may affect his or
      her
      ability to participate in the Plan. 

     

    
      
        
        

      

      
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    14.    Service
      Matters.
      The
      award
      of this Option does not form part of your entitlement to remuneration or
      benefits in terms of your services to the Company. Your terms and conditions
      of
      service are not affected or changed in any way by this Option or by the terms
      of
      the Plan or this Option Agreement. No provision of this Agreement or of the
      Option granted hereunder shall give the Optionee any right to continue in the
      service of the Company or any Affiliate, create any inference as to the length
      of service of the Optionee, affect the right of the Company or any Affiliate
      to
      terminate the service of the Optionee, with or without Cause (as defined in
      Section 2(i) of the Plan), or give the Optionee any right to participate in
      any
      employee welfare or benefit plan or other program (other than the Plan) of
      the
      Company or any Affiliate. Optionee acknowledges and agrees (by executing this
      Agreement) that the granting of Options under this Agreement are made on a
      fully
      discretionary basis by the Company and that this Agreement does not lead to
      a
      vested right to further Option awards in the future. Further, the Options set
      forth in this Agreement constitute a non-recurrent benefit and the terms of
      this
      Agreement are only applicable to the Options distributed pursuant to this
      Agreement.

     

    15.    Tax
      Provisions Applicable to Non-US Persons.
      This
      Section 15 shall apply to you if you are resident in and/or subject to the
      laws
      of a country other than the United States at the time of grant of this Option
      and during the period in which you hold this Option or the Shares issued
      pursuant thereto.

     

    (a) Applicable
      if you are not a US person (including as to UK persons):
      You
      hereby agree to indemnify and keep indemnified the Company and any Affiliate
      from and against any liability for, or obligation to pay, income tax and
      national insurance or social security contributions arising on the grant of
      the
      Option, vesting of the Shares or the exercise of the Option.

     

    (b) Applicable
      if you are a UK person:
      Where
      any
      obligation to pay income tax or national insurance contributions or social
      security contributions (any such obligation or contribution, a “Tax
      Liability”)
      arises, the Company or any Affiliate may recover from you an amount of money
      sufficient to meet the Tax Liability by any of the following arrangements:
      

     

    (i) deduction
      from salary or other payments due to you; or 

     

    (ii) withholding
      from the issuance to you of that number of Shares (otherwise to be acquired
      by
      you on exercise of the Option) whose aggregate Fair Market Value on the date
      of
      exercise is, so far as possible, equal to but neither less than nor more than
      the amount of Tax Liability.

     

    16.    Severability.
      In the
      event that any provision of this Option Agreement shall be held illegal or
      invalid for any reason, the illegality or invalidity shall not affect the
      remaining parts of this Option Agreement, and this Option Agreement shall be
      construed and enforced as if the illegal or invalid provision had not been
      included.

     

    
      
        
        

      

      
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    17.    Waiver;
      Cumulative Rights.
      The
      failure or delay of either party to require performance by the other party
      of
      any provision hereof shall not affect its right to require performance of such
      provision unless and until such performance has been waived in writing. Each
      and
      every right hereunder is cumulative and may be exercised in part or in whole
      from time to time.

     

    18.    Amendment
      of Nonqualified Stock Option.
      The
      Committee may at any time amend, alter, suspend or discontinue the Plan, but
      no
      amendment, alteration, suspension or discontinuation (other than as explicitly
      permitted under the Plan) shall be made that would adversely affect your rights
      under this Option Agreement without your consent.

     

    19.    Representations.
      As
      a
      condition to your receipt of this Option, you represent and warrant the
      following: 

     

    (a) You
      are
      aware of the Company’s business affairs and financial condition and have
      acquired sufficient information about the Company to reach an informed and
      knowledgeable decision to accept this Option; 

     

    (b) You
      are
      acquiring the Option and the Shares subject thereto for investment only for
      your
      own account, and not with a view, or for resale in connection with, any
“distribution” thereof under Applicable Law (as defined in Section 2(c) of the
      Plan); 

     

    (c) You
      understand that neither Option nor the Shares have been registered in all State
      jurisdictions within the United States, and that the exemption(s) from
      registration relied upon may depend upon your investment intent as set forth
      above; 

     

    (d) You
      further understand that prior to any resale by you of the Shares acquired upon
      exercise of this Option without registration of such resale in relevant State
      jurisdictions, the Company may require you to furnish the Company with an
      opinion of counsel acceptable to the Company that you may sell or transfer
      such
      Shares pursuant to an available exemption under Applicable Law; 

     

    (e) You
      understand that the Company is under no obligation to assist you in this process
      by registering the Shares in any jurisdiction or by ensuring that an exemption
      from registration is available; and 

     

    (f) You
      further agree that as a condition to exercise of this Option, the Company may
      require you to furnish contemporaneously dated representations similar to those
      set forth in this Section 19.

     

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

     

    FOSTER
      WHEELER LTD. OMNIBUS INCENTIVE PLAN

     

    Director’s
      Notice of Exercise of Nonqualified Stock Option

    
       

      
        	To:	 Foster Wheeler
                Ltd.
	Attn:	 Stock Option
                Administrator
	Subject:	 Notice of Intention to Exercise
                Stock Option

      

       

      This
        is
        official notice that the undersigned (“Optionee”) intends to exercise Optionee’s
        option to purchase _________ Common Shares of Foster Wheeler Ltd., under
        and
        pursuant to the Company’s Omnibus Incentive Plan and the Option Agreement dated
        _______________:

       

      
        	
                Date
                  of Exercise: 

                 

              	 
	
                Number
                  of Shares: 

                 

              	 
	
                Exercise
                  Price:

                 

              	 
	
                Method
                  of Payment of Exercise Price:

                 

              	 
	
                Social
                  Security Number:

                 

              	 

      

       

      The
        Shares should be issued as follows:

       

      
        	
                Name:

                 

              	 
	
                Address:

                 

              	 
	
                Signed:
                  

                 

              	 
	
                Date:

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