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  Exhibit 10.21    
    

 Form of

INDEMNIFICATION AGREEMENT dated as of November 11, 2008 between  

 Fluor Corporation  

 (the "Company"), and [INDEMNITEE] ("Indemnitee")  

        WHEREAS, the Board of Directors has determined that the inability to attract and retain qualified persons as directors and officers is
detrimental to the best interests of the Company's stockholders and that the Company should act to assure such persons that there will be adequate certainty of protection through insurance and
indemnification against risks of claims and actions against them arising out of their service to and activities on behalf of the Company; and 

        WHEREAS,
the Company has adopted provisions in its Amended and Restated Certificate of Incorporation (the "Certificate") providing for indemnification of its officers and directors to
the fullest extent authorized by the General Corporation Law of the State of Delaware, and the Company wishes to clarify and enhance the rights and obligations of the Company and Indemnitee with
respect to indemnification; and 

        WHEREAS,
in order to induce and encourage highly experienced and capable persons such as Indemnitee to serve and continue to serve as directors and officers of the Company and in any
other capacity with respect to the Company, and to otherwise promote the desirable end that such persons will resist what they consider unjustified lawsuits and claims made against them in connection
with the good faith performance of their duties to the Company, with the knowledge that certain costs, judgments, penalties, fines, liabilities and expenses incurred by them in their defense of such
litigation are to be borne by the Company and they will receive the maximum protection against such risks and liabilities as may be afforded by law, the Board of Directors of the Company has
determined that the following Agreement is reasonable and prudent to promote and ensure the best interests of the Company and its stockholders; and 

        WHEREAS,
the Company desires to have Indemnitee continue to serve as a director or officer of the Company and in such other capacity with respect to the Company as the Company may
request, as the case may be, free from undue concern for unpredictable, inappropriate or unreasonable legal risks and personal liabilities by reason of Indemnitee acting in good faith in the
performance of Indemnitee's duty to the Company; and Indemnitee desires to continue so to serve the Company, provided, and on the express condition, that he or she is furnished with the indemnity set
forth hereinafter; 

        Now,
therefore, in consideration of Indemnitee's continued service as a director or officer of the Company, the parties hereto agree as follows: 

        1.    Service by Indemnitee.    Indemnitee will serve and/or continue to serve as a director or officer of the Company
faithfully and to the best of Indemnitee's ability so long as Indemnitee is duly elected or appointed and until such time as Indemnitee is removed as permitted by law or tenders a resignation in
writing. 

        2.    Indemnification.    The Company shall indemnify Indemnitee to the fullest extent authorized by the General
Corporation Law of the State of Delaware in effect on the date hereof or as such law may from time to time be amended (but, in the case of any such amendment, only to the extent that such amendment
permits the Company to provide broader indemnification rights than said law permitted the Company to provide prior to such amendment). Without diminishing the scope of the indemnification provided by
this Section, the rights of indemnification of Indemnitee provided hereunder shall include but shall not be limited to those rights hereinafter set forth, except that no indemnification shall be paid
to Indemnitee: 

        (a)   to
the extent expressly prohibited by Delaware law or the Certificate of the Company; 

 

        (b)   for
which payment is actually made to Indemnitee under a valid and collectible insurance policy or under a valid and enforceable indemnity clause, charter or bylaw
provision or agreement of the Company or any other company or organization on whose board Indemnitee serves at the request of the Company, except in respect of any indemnity exceeding the payment
under such insurance, indemnity clause, charter or bylaw provision or agreement; or 

        (c)   in
connection with an action, suit or proceeding, or part thereof (including claims and counterclaims) initiated by Indemnitee, except a judicial proceeding or
arbitration pursuant to Section 10 to enforce rights under this Agreement, unless the action, suit or proceeding (or part thereof) was authorized by the Board of Directors of the Company. 

        3.    Action or Proceedings Other than an Action by or in the Right of the Company.    Except as limited by
Section 2 above, Indemnitee shall be entitled to the indemnification rights provided in this Section if Indemnitee is a party or is threatened to be made a party to or is involved in any
Proceeding (other than an action by or in the name of the Company) by reason of the fact that Indemnitee, or a person of whom Indemnitee is the legal representative, is or was a director, officer,
employee or agent of the Company, or is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary of any other entity (including, but not limited to, another
corporation, partnership, joint venture or trust, and including service with respect to employee benefit plans), or by reason of anything done or not done by Indemnitee in any such capacity, whether
the basis of the Proceeding is alleged action in an official capacity as a director, officer, employee, agent or fiduciary or in any other capacity while serving as a director, officer, employee,
agent or fiduciary. Pursuant to this Section, Indemnitee shall be indemnified against all costs, judgments, penalties, fines, liabilities, losses, ERISA excise taxes or penalties, amounts paid in
settlement by or on behalf of Indemnitee, and Expenses (defined below) actually and reasonably incurred or suffered by Indemnitee in connection with such Proceeding, if Indemnitee acted in good faith
and in a manner he reasonably believed to be in or not opposed to the best interests of the Company, and with respect to any criminal Proceeding, had no reasonable cause to believe his or her conduct
was unlawful. 

        4.    Indemnity in Proceedings by or in the Name of the Company.    Except as limited by Section 2 above,
Indemnitee shall be entitled to the indemnification rights provided in this Section if Indemnitee was or is a party or is threatened to be made a party to or is involved in any Proceeding brought by
or in the name of the Company to procure a judgment in its favor by reason of the fact that Indemnitee, or a person of whom he or she is the legal representative, is or was a director, officer,
employee, agent or fiduciary of the Company, or is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary of any other entity (including, but not limited to,
another corporation, partnership, joint venture or trust, and including service with respect to employee benefit plans), or by reason of anything done or not done by Indemnitee in any such capacity,
whether the basis of the Proceeding is alleged action in an official capacity as a director, officer, employee, agent or fiduciary or in any other capacity while serving as a director, officer,
employee, agent or fiduciary. Pursuant to this Section, Indemnitee shall be indemnified against all costs, judgments, penalties, fines, liabilities, losses,
ERISA excise taxes or penalties, amounts paid in settlement by or on behalf of Indemnitee, and Expenses actually and reasonably incurred or suffered by Indemnitee in connection with such Proceeding if
Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company; provided, however, that no such indemnification shall be
made in respect of any claim, issue, or matter as to which Delaware law expressly prohibits such indemnification by reason of any adjudication of liability of Indemnitee to the Company, unless and
only to the extent that the Court of Chancery of the State of Delaware or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of
liability but in view of all the circumstances of the case, Indemnitee is entitled to indemnification for such costs, judgments, penalties, fines, liabilities, losses, ERISA excise taxes or penalties,
and Expenses as such court shall deem proper. 

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        5.    Indemnification for Costs, Charges and Expenses of Successful Party.    Notwithstanding the limitations of
Sections 3 and 4 above, to the extent that Indemnitee has been successful, on the merits or otherwise, in whole or in part, in defense of any Proceeding (including an action, suit or proceeding
brought by or on behalf of the Company) or in defense of any claim, issue or matter therein, including, without limitation, the dismissal of any action without prejudice, or if it is ultimately
determined that Indemnitee is otherwise entitled to be indemnified against Expenses, Indemnitee shall be indemnified against all Expenses actually and reasonably incurred or suffered by Indemnitee in
connection therewith. 

        6.    Partial Indemnification.    If Indemnitee is entitled under any provision of this Agreement to indemnification
by the Company for some or a portion of the costs, judgments, penalties, fines, liabilities, losses, ERISA excise taxes or penalties, or Expenses actually and reasonably incurred or suffered by
Indemnitee in connection with any action, suit or proceeding (including an action, suit or proceeding brought by or on behalf of the Company), but not, however, for all of the total amount thereof,
the Company shall nevertheless indemnify Indemnitee for the portion of such costs, judgments, penalties, fines, liabilities, losses, ERISA excise taxes or penalties, and Expenses actually and
reasonably incurred or suffered by Indemnitee to which Indemnitee is entitled. 

        7.    Indemnification for Expenses of a Witness.    Notwithstanding any other provision of this Agreement, to the
maximum extent permitted by applicable law, Indemnitee shall be entitled to indemnification against all Expenses actually and reasonably incurred or suffered by Indemnitee or on Indemnitee's behalf if
Indemnitee appears as a witness or otherwise incurs legal expenses as a result of or related to Indemnitee's service as a director or officer of the Company, in any threatened, pending or completed
legal, administrative, investigative or other proceeding or matter to which Indemnitee neither is, nor is threatened to be made, a party. 

        8.    Determination of Entitlement to Indemnification.    Upon written request by Indemnitee for indemnification
pursuant to Sections 3, 4, 5, 6 or 7 the entitlement of Indemnitee to indemnification, to the extent not provided pursuant to the terms of this Agreement, shall be determined by the following
person or persons who shall be empowered to make such determination: (a) the Board of Directors of the Company by a majority vote of Disinterested Directors (defined below), whether or not such
majority constitutes a quorum; (b) a committee of Disinterested Directors designated by a majority vote of such directors, whether or not such majority constitutes a quorum; (c) if there
are no Disinterested Directors, or if the Disinterested Directors so direct, by Independent Counsel (defined below) in a written opinion to the Board of Directors, a copy of which shall be delivered
to Indemnitee; or (d) the stockholders of the Company. Such Independent Counsel shall be selected by the Board of Directors and approved by Indemnitee. Upon failure of the Board so to select
such Independent Counsel or upon failure of Indemnitee so to approve, such Independent Counsel shall be selected upon application to a court of competent jurisdiction. Such determination of
entitlement to indemnification shall be made, and such indemnification shall be paid in full, not later than 30 calendar days after receipt by the Company of a written request for indemnification.
Such request shall include documentation or information which is necessary for such determination and which is reasonably available to Indemnitee. Any Expenses incurred by Indemnitee in connection
with a request for indemnification or payment of Expenses hereunder, under any other agreement, any provision of the Company's Certificate or any directors' and officers' liability insurance, shall be
borne by the Company. The Company hereby indemnifies Indemnitee for any such Expense and agrees to hold Indemnitee harmless therefrom irrespective of the outcome of the determination of Indemnitee's
entitlement to indemnification. If the person making such determination shall determine that Indemnitee is entitled to indemnification as to part (but not all) of the application for indemnification,
such person shall reasonably prorate such partial indemnification among the claims, issues or matters at issue at the time of the determination. 

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        9.    Presumptions and Effect of Certain Proceedings.    The Secretary of the Company shall, promptly upon receipt of
Indemnitee's request for indemnification, advise in writing the Board of Directors or such other person or persons empowered to make the determination as provided in Section 8 that Indemnitee
has made such request for indemnification. Upon making such request for indemnification, Indemnitee shall be presumed to be entitled to indemnification hereunder and the Company shall have the burden
of proof in making any determination contrary to such presumption. If the person or persons so empowered to make such determination shall have failed to make the requested determination with respect
to indemnification within 30 calendar days after receipt by the Company of such request, a requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee
shall be absolutely entitled to such indemnification, absent actual and material fraud in the request for indemnification. The termination of any Proceeding described in Sections 3 or 4 by
judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself: (a) create a presumption
that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, or, with respect to any criminal
Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee's conduct was unlawful; or (b) otherwise adversely affect the rights of Indemnitee to indemnification except as may
be provided herein. 

        10.    Remedies of Indemnitee in Cases of Determination not to Indemnify or to Pay Expenses.    In the event that a
determination is made that Indemnitee is not entitled to indemnification hereunder or if payment has not been timely made following a determination of entitlement to indemnification pursuant to
Sections 8 and 9, or if Expenses are not paid pursuant to Section 15, Indemnitee shall be entitled to final adjudication in a court of competent jurisdiction of entitlement to such
indemnification or payment. The Company shall not oppose Indemnitee's right to seek any such adjudication or any other claim. Neither the failure of the person or persons empowered to make the
determination under Section 8 to have made a determination prior to the commencement of such suit that indemnification is proper under the circumstances because Indemnitee has met the standard
of conduct set forth in Section 3 or Section 4, as applicable, nor an actual determination by such person or persons that Indemnitee has not met the applicable standard of conduct, shall
be a defense in such suit or create a presumption that Indemnitee has not met the applicable standard of conduct. If a determination is made or deemed to have been made pursuant to the terms of
Section 8 or 9 that Indemnitee is entitled to indemnification, the Company shall be bound by such determination and is precluded from asserting that such determination has not been made or that
the procedure by which such determination was made is not valid, binding and enforceable. The Company further agrees to stipulate in any such court that the Company is bound by all the provisions of
this Agreement and is precluded from making any assertions to the contrary. If the court shall determine that Indemnitee is entitled to any indemnification or payment of Expenses hereunder, the
Company shall pay all Expenses actually and reasonably incurred or suffered by Indemnitee in connection with such adjudication (including, but not limited to, any appellate Proceedings). 

        11.    Other Rights to Indemnification.    Indemnification and payment of Expenses provided by this Agreement shall
not be deemed exclusive of any other rights to which Indemnitee may now or in the future be entitled under any provision of the Certificate or other organizational documents of the Company, vote of
stockholders or Disinterested Directors, provision of law, agreement or otherwise. 

        12.    Expenses to Enforce Agreement.    In the event that Indemnitee is subject to or intervenes in any action in
which the validity or enforceability of this Agreement is at issue or seeks an adjudication to enforce Indemnitee's rights under, or to recover damages for breach of, this Agreement, Indemnitee, if
Indemnitee prevails in whole or in part in such action, shall be entitled to recover from the Company and shall be indemnified by the Company against any actual Expenses incurred by Indemnitee. 

        13.    Continuation of Indemnity.    All agreements and obligations of the Company contained herein shall continue
during the period Indemnitee is a director, officer, employee, agent or fiduciary of the 

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Company
or is serving at the request of the Company as a director, officer, employee, agent or fiduciary of any other entity (including, but not limited to, another corporation, partnership, joint
venture or trust, and including service with respect to employee benefit plans) of the Company and shall continue thereafter with respect to any possible claims based on the fact that Indemnitee was a
director, officer employee, agent or fiduciary of the Company or was serving at the request of the Company as a director, officer, employee, agent or fiduciary of any other entity (including, but not
limited to, another corporation, partnership, joint venture or trust, and including service with respect to employee benefit plans). This Agreement shall be binding upon all successors and assigns of
the
Company (including any transferee of all or substantially all of its assets and any successor by merger or operation of law) and shall inure to the benefit of the heirs, executors and administrators
of Indemnitee. 

        14.    Notification and Defense of Claim.    Promptly after receipt by Indemnitee of notice of any Proceeding,
Indemnitee will, if a claim in respect thereof is to be made against the Company under this Agreement, notify the Company in writing of the commencement thereof; but the omission so to notify the
Company will not relieve it from any liability that it may have to Indemnitee. Notwithstanding any other provision of this Agreement, with respect to any such Proceeding of which Indemnitee notifies
the Company: 

        (a)   The
Company shall be entitled to participate therein at its own expense; and 

        (b)   Except
as otherwise provided in this Section 14(b), to the extent that it may wish, the Company, jointly with any other indemnifying party similarly notified,
shall be entitled to assume the defense thereof, with counsel satisfactory to Indemnitee. After notice from the Company to Indemnitee of its election so to assume the defense thereof, the Company
shall not be liable to Indemnitee under this Agreement for any expenses of counsel subsequently incurred by Indemnitee in connection with the defense thereof except as otherwise provided below.
Indemnitee shall have the right to employ Indemnitee's own counsel in such Proceeding, but the fees and expenses of such counsel incurred after notice from the Company of its assumption of the defense
thereof shall be at the expense of Indemnitee unless (i) the employment of counsel by Indemnitee has been authorized by the Company, (ii) Indemnitee shall have reasonably concluded that
there may be a conflict of interest between the Company and Indemnitee in the conduct of the defense of such action or (iii) the Company shall not within 60 calendar days of receipt of notice
from Indemnitee in fact have employed counsel to assume the defense of the action, in each of which cases the fees and expenses of Indemnitee's counsel shall be at the expense of the Company. The
Company shall not be entitled to assume the defense of any Proceeding brought by or on behalf of the Company or as to which Indemnitee shall have made the conclusion provided for in (ii) above; and 

        (c)   If
the Company has assumed the defense of a Proceeding, the Company shall not be liable to indemnify Indemnitee under this Agreement for any amounts paid in settlement
of any Proceeding effected without the Company's written consent. The Company shall not settle any Proceeding in any manner that would impose any penalty or limitation on or disclosure obligation with
respect to Indemnitee without Indemnitee's written consent. Neither the Company nor Indemnitee will unreasonably withhold its consent to any proposed settlement. 

        15.    Payment of Expenses.    All Expenses incurred by Indemnitee in advance of the final disposition of any
Proceeding shall be paid by the Company at the request of Indemnitee, each such payment to be made within 30 calendar days after the receipt by the Company of a statement or statements from Indemnitee
requesting such payment or payments from time to time. Indemnitee's entitlement to such Expenses shall include those incurred in connection with any proceeding by Indemnitee seeking a judgment in
court or an adjudication pursuant to this Agreement (including the enforcement of this provision) to the extent the court shall determine that Indemnitee is entitled to any 

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indemnification
or payment of Expenses hereunder. Such statement or statements shall reasonably evidence the expenses and costs incurred by Indemnitee in connection therewith; provided, however, that
if the General Corporation Law of the State of Delaware requires with respect to Expenses incurred by Indemnitee in his or her capacity as a director or officer (and not in any other capacity in which
service was or is rendered by such person while a director or officer, including, without limitation, service to an employee benefit plan), such request for payment of Expenses shall also include or
be accompanied by an undertaking, in substantially the form attached as Exhibit 1, by or on behalf of Indemnitee to reimburse such Expenses if it is ultimately determined, after all appeals by
a court of competent jurisdiction that Indemnitee is not entitled to be indemnified against such Expenses by the Company as provided by this Agreement or otherwise. Indemnitee's undertaking to
reimburse any such amounts is not required to be secured. 

        16.    Separability; Prior Indemnification Agreements.    If any provision or provisions of this Agreement shall be
held to be invalid, illegal or unenforceable for any reason whatsoever (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation,
all portions of any paragraphs of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not by themselves invalid, illegal or unenforceable) shall not in
any way be affected or impaired thereby, and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, all portions of any paragraph of this Agreement
containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent of the
parties that the Company provide protection to Indemnitee to the fullest enforceable extent. This Agreement shall supersede and replace any prior indemnification agreements entered into by and between
the Company and Indemnitee and any such prior agreements shall be terminated upon execution of this Agreement. 

        17.    Headings; References; Pronouns.    The headings of the sections of this Agreement are inserted for convenience
only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof. References herein to section numbers are to sections of this Agreement. All pronouns and any
variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural as appropriate. 

        18.    Definitions.    For purposes of this Agreement: 

        (a)   "Disinterested
Director" means a director of the Company who is not or was not a party to the Proceeding in respect of which indemnification is being sought by
Indemnitee. 

        (b)   "Expenses"
includes, without limitation, expenses incurred in connection with the defense or settlement of any and all investigations, judicial or administrative
proceedings or appeals, attorneys' fees, witness fees and expenses, fees and expenses of accountants and other advisors, retainers and disbursements and advances thereon, the premium, security for,
and other costs relating to any bond (including cost bonds, appraisal bonds or their equivalents), and any expenses of establishing a right to indemnification under Sections 8, 10 and 12 above
but shall not include the amount of judgments, fines or penalties actually levied against Indemnitee. 

        (c)   "Independent
Counsel" means a law firm or a member of a law firm that neither is presently nor in the past five years has been retained to represent: (i) the
Company or Indemnitee in any matter material to either such party, or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing,
the term "Independent Counsel" shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the
Company or Indemnitee in an action to determine Indemnitee's right to indemnification under this Agreement. 

        (d)   "Proceeding"
includes any threatened, pending or completed investigation, action, suit or other proceeding, whether brought in the name of the Company or otherwise,
against Indemnitee, 

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and
whether of a civil, criminal, administrative or investigative nature, including, but not limited to, actions, suits or proceedings in which Indemnitee may be or may have been involved as a party
or otherwise, by reason of the fact that Indemnitee, or a person of whom he or she is the legal representative, is or was a director, officer, employee, agent or fiduciary of the Company, or is or was
serving, at the request of the Company, as a director, officer, employee or agent or fiduciary of any other entity, including, but not limited to, another corporation, partnership, joint venture or
trust, and including service with respect to employee benefit plans, or by reason of anything done or not done by Indemnitee in any such capacity, whether the basis of the Proceeding is alleged action
in an official capacity as a director, officer, employee, agent or fiduciary or in any other capacity while serving as a director, officer, employee, agent or fiduciary, and whether or not Indemnitee
is serving in such capacity at the time any liability or expense is incurred for which indemnification or reimbursement can be provided under this Agreement. 

        19.    Other Provisions.    

        (a)   This
Agreement shall be interpreted and enforced in accordance with the laws of Delaware. 

        (b)   This
Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute
one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced as evidence of the existence of this Agreement. 

        (c)   This
agreement shall not be deemed an employment contract between the Company and any Indemnitee who is an officer of the Company, and, if Indemnitee is an officer of
the Company, Indemnitee specifically acknowledges that Indemnitee may be discharged at any time for any reason, with or without cause, and with or without severance compensation, except as may be
otherwise provided in a separate written contract between Indemnitee and the Company or in accordance with the Company's policies or practices. 

        (d)   Upon
a payment to Indemnitee under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of Indemnitee to recover against
any person for such liability, and Indemnitee shall execute all documents and instruments required and shall take such other actions as may be necessary to secure such rights, including the execution
of such documents as may be necessary for the Company to bring suit to enforce such rights. 

        (e)   No
supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both parties hereto. No waiver of any of the provisions of this
Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 

        IN
WITNESS WHEREOF, the parties hereto have executed this Agreement on and as of the day and year first above written. 

					
	 	 	Fluor Corporation
	

 	
 	
By	
 	

 
	 	 	 	 	 
	
    	
 	

 	
 	

 
	 	 	 
	 	 	Indemnitee

7

 EXHIBIT 1  

UNDERTAKING
TO REPAY INDEMNIFICATION EXPENSES 

        I
                                    , agree to reimburse the
Company for all expenses paid to me by the Company in connection with any Proceeding (as defined in the
Indemnification Agreement dated as of
                                     between me and the
Company), in the event, and to the extent that it shall ultimately be determined after all appeals
by a court of competent jurisdiction that I am not entitled to be indemnified by the Company for such expenses. 

							
	 	 	 	 	Signature	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Typed Name	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Office	 	 
	 	 	 	 	 	 	 
	

 	
 	
) ss:	
 	

 	
 	

 
	 	 	 	 	 	 	 

Before
me                                     , on this day personally
appeared                                     , known to me to
be the person whose name is subscribed to the
foregoing instrument, and who, after being duly sworn, stated that the contents of said
instrument is to the best of his/her knowledge and belief true and correct and who acknowledged that he/she executed the same for the purpose and consideration therein expressed. 

GIVEN
under my hand and official seal at                         , this
                         day of
                                    ,
200        . 

			
	
    	
 	

 
	 	 	 
	 	 	Notary Public

My
commission expires: 

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  Exhibit 10.22    
    

  

Alan
L. Boeckmann

Chairman and Chief Executive Officer 

Fluor
Corporation

6700 Las Colinas Blvd.

W3A

Irving, TX 75039

USA 

February 7,
2008 

Mr. Steve
Dobbs

6700 Las Colinas Blvd., W3J

Irving, TX 75039 

Dear
Steve: 

        It
is my pleasure to inform you that the Organization and Compensation Committee of the Board of Directors has approved a special retention award for you which has been structured as
follows: 

					
	Award Amount:	 	 $3,000,000 total award value of which
	

 	
 	
•	
 	
$2,000,000 is granted in 16,464 restricted stock units (RSUs) as of January 31, 2008 (the Board of Directors meeting date) at the Fluor stock closing price of $121.49 per share.
	

 	
 	
•	
 	
$1,000,000 is credited to your Fluor Executive Deferred Compensation Program (EDCP) account as of January 31, 2008.
	
Retention Period:	
 	
January 31, 2008 through March 31, 2013.

 

					
	Retention Agreement:	 	 16,464 Restricted Stock Units
	

 	
 	
•	
 	
5,488 RSUs will vest on January 31, 2011 and be settled in shares less RSUs converted and withheld to satisfy applicable taxes.
	

 	
 	
•	
 	
5,488 RSUs will vest on January 31, 2012 and be settled in shares less RSUs converted and withheld to satisfy applicable taxes.
	

 	
 	
•	
 	
5,488 RSUs will vest on January 31, 2013 and be settled in shares less RSUs converted and withheld to satisfy applicable taxes.
	

 	
 	
 $1,000,000 cash credited to your EDCP account

The initial cash award of $1,000,000 will be credited to your special deferred compensation account and invested in a money market account. You are eligible to change the initial investment option to other available investment options consistent with
program administration.
	

 	
 	
The total $1,000,000 cash credited to your special deferred compensation account plus any accrued gains or losses will vest on March 31, 2013, if you are actively employed by the Company on that date.
	

 	
 	
You will need to make a distribution election using the enclosed form to correspond with this deferred award within 5 days after signing this agreement.

        You
will earn your retention award (a) if you remain continuously employed by the Company as stated above or (b) if your employment terminates prior to the above date due
to (i) death, (ii) permanent and total disability, (iii) a Company-initiated termination other than on a for-cause basis or (iv) a Company initiated termination
following a Change of Control. If in the event your employment terminates prior to the earnout date for any reason other than stated above (including, without limitation, your voluntary termination or
a termination for cause), then the retention award will be forfeited. 

        None
of the restrictions set upon this award shall lapse unless and until the Company meets the performance goal of $226 million in net earnings for the fiscal year 2008 as
adjusted by the Organization and Compensation Committee of the Board of Directors in its sole discretion to exclude the following events: (i) changes in accounting principles,
(ii) accruals for reorganization and restructuring programs, (iii) extraordinary items as determined for financial statement purposes; and (iv) any special disposition of assets
affecting operating cash flow. This performance goal is put in place to allow the Company to qualify this award under Internal Revenue Code (IRC) Section 162(m) for purposes of tax
deductibility of the compensation. 

        For
purposes hereof, the term "Change of Control" shall be deemed to have occurred if, (a) 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 25% or more of the votes that may be cast for the election of directors of the Company or (b) as a result of any cash
tender or exchange offer, merger or other business combination, or any combination of the preceding (a "transaction"), the persons who are the directors of the Company before the transaction shall
cease to constitute a majority of the Board of Directors of the Company or any successor thereto. 

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        You
expressly agree to maintain strict confidentiality of this retention award. You may not disclose this agreement to anyone other than your spouse or confidential financial advisor,
senior management of the Company and Executive Compensation Services. If disclosure is made to any other person, this award shall be forfeited. 

        Please
indicate your acknowledgment of the terms of the letter by signing in the space provided and returning the original to Executive Compensation Services in the enclosed envelope for
your employee records. You should also retain a copy for your file. 

        If
you should have any questions, please call me at 469.398.7148 or Lisa Schlepp a call at 469.398.7101. 

Sincerely,

/s/
Alan L. Boeckmann 

Alan
L. Boeckmann 

			
	Agreed by:	 	 
	
 /s/ Steve Dobbs	
 	
2/19/08
	 	 	 
	Steve Dobbs	 	Date

ALB:las

3

QuickLinks

Exhibit 10.22

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