Document:

EX-10.20

 Exhibit 10.20 
 FOSTER WHEELER AG OMNIBUS INCENTIVE PLAN 
 Notice of Employee
Nonqualified Stock Option Grant 
 Employee:             

 Pursuant to the attached Employee Nonqualified Stock Option Agreement, you have been granted a nonqualified stock option
to purchase registered shares of Foster Wheeler AG, a Swiss company (the “Company”) as follows: 
  

			
	Grant Date:	  	[March     , 2013]
		
	Exercise Price Per Share:	  	The greater of                      US dollars (USD) per Share or the par
value of a Share (as such par value is defined in Article 4 of the Company’s Articles of Association), denominated in Swiss francs (CHF) on the date of delivery of the Share
		
	Total Number of Shares Subject to this Option:	  	                     registered shares
		
	Type of Option:	  	Nonqualified Stock Option
		
	Expiration Date:	  	Seventh (7th) anniversary of the Grant Date
		
	Vesting/Exercise Schedule:	  	 So long as you are continuously employed by 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 in accordance with the following schedule:
  

•     One-third of the Shares subject to the Option shall vest and become
exercisable on the first (1st) anniversary of the Grant
Date;
  
 •     Another one-third of the Shares subject to the Option shall vest and become exercisable on the second (2nd) anniversary of the Grant Date; and

 
 •     The
remaining one-third of the Shares subject to the Option shall vest and become exercisable on the third (3rd) anniversary of the Grant Date.

			
	Termination Period:	  	 Following your termination of employment 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 employment 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.

 Pursuant to the Foster Wheeler AG 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
herein, you have been granted as of the date set forth above an option (the “Option”) to purchase registered shares of Foster Wheeler AG on the terms and conditions set forth in the attached Employee Nonqualified Stock Option
Agreement (the “Option Agreement”). 
 You must accept this Option by responding to the cover e-mail to which
this Option is attached in accordance with the instructions contained in the e-mail. If you do not accept this Option, you will have no further rights or obligations under this Option Agreement, and will not be eligible to receive any other
grants in lieu of this Option. However, failing to accept this Option will not affect any other grants you may have previously received, or may receive in the future, under the Plan. 

If you accept the Option, you will be bound by and agree to all terms of the Option Agreement. 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 Grant Date, and that nothing in the Option Agreement or the documents attached or provided herewith confers upon you any right to continue your employment 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. 

  
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 FOSTER WHEELER AG OMNIBUS INCENTIVE PLAN 

Employee Nonqualified Stock Option Agreement 
 1. Grant of Option. Foster Wheeler AG, a Swiss company (the “Company”), hereby grants to the Employee (“Optionee”) whose name is set forth in the Notice of
Employee Nonqualified Stock Option Grant (the “Notice”), an option (the “Option”) to purchase the total number of registered shares (the “Shares”) subject to the Option, set forth in 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 AG Omnibus Incentive Plan (the “Plan”) adopted by the Company,
which is incorporated in this Employee Nonqualified Stock Option Agreement (the “Option Agreement”) by reference. Unless otherwise defined in this Option Agreement (including, for the avoidance of doubt, definition by incorporation
through Section 6 of this Option Agreement), the terms used in this Option Agreement and the Notice 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 the Plan. The Company and Optionee shall be deemed to have agreed to this Option Agreement upon Optionee’s acceptance of this
Option, as set forth in the Notice. 
 2. Designation of Option. This Option is intended to be a Nonqualified
Stock Option. 
 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 registered share. 
 (ii) In the event of Optionee’s death, Disability,
Retirement (which, for the avoidance of doubt and for purposes of this Option Agreement, is as defined in the Plan), or other termination of employment, 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 substantially
the information described in Exhibit A hereto, and substantially 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. Swiss law requires the execution of a specific form of exercise notice for Shares to issue
out of the conditional capital of the Company. By signing this Agreement, 

  
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you appoint the Company’s Secretary and each of its Assistant Secretaries your proxy with the right of substitution to execute and deliver the requisite form of exercise notice at or about
the time you provide the Company a Notice of Exercise. 
 (ii) For the sole purpose of enabling electronic
trading of the awarded Shares on the NASDAQ Global Select Market, Optionee shall assign and transfer the awarded Shares to Cede & Co., the Nominee of the Depository Trust Company, a US clearing agency. Such assignment and transfer 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 foregoing assignment and transfer will not adversely affect Optionee’s beneficial
ownership of, or ability to trade, the awarded Shares. 
 (iii) As a condition to the exercise of this Option and
as further set forth in Article 20 of the Plan, Optionee agrees to make adequate provision for federal, state or other tax withholding obligations, if any, which arise upon the vesting or exercise of the Option. Optionee 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 registered shares of the Company to pay the applicable withholding tax or (b) depositing with the Company an amount of
funds equal to the estimated withholding tax liability. If Optionee fails to satisfy such obligations in this regard, the Company may require that the Shares otherwise scheduled to become vested on any given date be forfeited. 

(iv) 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, 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;

 (D) the Optionee complying with any federal, state, or local tax withholding obligations; and/or 

(E) its compliance with the restrictions of Code Section 409A to the

  
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extent applicable, including any 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 employment for any reason (the “Termination Date”), Optionee may exercise the Option only as set forth in the Notice and this Section 5. The Committee has the discretion to determine the Optionee’s
Termination Date for purposes of the Option. To the extent that the Optionee is not vested in the Shares as of his or her Termination Date according to this Section 5 or other provision of this Option Agreement, 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. 

(a) Termination as a Result of Death or Disability. In the event of the Optionee’s termination of
employment as a result of his or her death or Disability, 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 employment or 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 as a Result of Involuntary Termination or Resignation for Good
Reason. In the event of the Optionee’s termination of employment other than during a Change in Control Period but as a result of his or her Involuntary Termination or Resignation for Good Reason, Optionee may, to the extent he or she is
otherwise vested in the Option at the Termination Date, exercise such Options and such Options shall remain exercisable until the earlier of: 
 (i) the Expiration Date; or 
 (ii) the six (6) month
anniversary of the day the Optionee terminates employment due to an Involuntary Termination or Resignation for Good Reason; provided, however, that in the event that applicable securities law (including Section 306 of the Sarbanes-Oxley Act), a
rule or listing requirement of the principal stock exchange on which the Company’s Shares are listed, or the Company’s blackout or stock trading policy prohibits the Optionee from trading in Shares (collectively, a
“Blackout”) during any portion 

  
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of the six-month exercise period, then the running of such six-month exercise period shall be suspended until the first date on which the Blackout is lifted by the Company as it relates to the
Optionee, or in the opinion of the Company’s legal counsel or legal compliance officer, the Blackout no longer applies, but in no event shall such Option be exercisable after the Expiration Date. 

In the event of the Optionee’s termination of employment other than during a Change in Control Period but as a result of the
Optionee’s Involuntary Termination or Resignation for Good Reason, the unvested portion of the Option shall be immediately be forfeited; provided, however, that if the Optionee is a party to an Other Agreement (as defined in this Option
Agreement) and such Other Agreement contains provisions regarding the vesting or forfeiture of stock options upon Involuntary Termination or Resignation for Good Reason other than during a Change in Control Period (or the substantial equivalent
thereof), the unvested portion of the Option shall vest or be forfeited in accordance with the terms of the Optionee’s Other Agreement. 
 (c) Termination as a Result of Retirement. In the event of the Optionee’s termination of employment as a result of his or her Retirement (which, for the avoidance of doubt and for
purposes of this Option Agreement, is as defined in 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 employment from the Grant Date to the
end of the month in which the date of termination due to Retirement occurs, and the denominator of which is thirty-six (36), rounded to the nearest whole number; less 

(iii) the total number of Shares in which Optionee has previously vested prior to his or her date of Retirement.

 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 is granted 1,000 Options on March 4, 2011. She will vest in her Options as follows: (1) 333
Options on the 1st anniversary of the Grant Date,
(2) 333 Options on the 2nd anniversary of the Grant
Date, and (3) 334 Options on the 3rd anniversary of
the Grant Date. Ann subsequently terminates her employment by Retirement effective August 18, 2012. 
 As of August 18,
2012, Ann will immediately vest in additional Shares underlying and subject to the unvested Options equal to the amount of 167 (equal to 1,000 Options multiplied by 18 months of employment divided by 36 reduced by
333 Options previously vested). 
 All vested Shares subject to the Option (including those 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 thirty-sixth (36) month
anniversary of the day the Optionee terminates employment due to Retirement. 

  
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 The unvested portion of the Option shall be immediately forfeited. 

(d) Termination for Cause. In the event the Optionee’s employment is terminated for Cause, 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 Option Agreement shall control. 

(e) Termination — General. In the event of the Optionee’s termination of employment other than as
a result of Optionee’s death, Disability, Involuntary Termination, Resignation for Good Reason, Retirement, or Cause, Optionee may, to the extent he or she is otherwise vested in the Option at the Termination Date, exercise such Options and
such Options shall remain exercisable until the earlier of: 
 (i) the Expiration Date; or 

(ii) the date which is thirty (30) days after the day the Optionee terminates employment for reasons other than as a
result of Optionee’s death, Disability, Involuntary Termination, Resignation for Good Reason, Retirement, or Cause; provided, however, that in the event of a Blackout during any portion of the 30-day exercise period, then the running of such
30-day exercise period shall be suspended until the first date on which the Blackout is lifted by the Company as it relates to the Optionee, or in the opinion of the Company’s legal counsel or legal compliance officer, the Blackout no longer
applies, but in no event shall such Option be exercisable after the Expiration Date. 
 The unvested portion of the Option shall
be immediately forfeited. 
 (f) Change in Control Acceleration. In the event of the
Optionee’s termination of employment during a Change in Control Period as a result of Optionee’s Involuntary Termination or Resignation for Good Reason, any unvested Shares under the Option shall immediately become fully vested and
exercisable as of the date of such termination and all remaining Shares subject to the Option shall remain exercisable through the earlier of the Expiration Date or the date which is three (3) years after the date of such termination of
service, provided, however, that if the Optionee is a party to an Other Agreement and such Other Agreement contains provisions regarding the vesting or forfeiture of stock options upon such termination during a Change in Control Period (or the
substantial equivalent of any of the foregoing) in a manner consistent with Article 18 of the Plan, the unvested portion of the Option shall vest or be forfeited in accordance with the terms of the Optionee’s Other Agreement. Notwithstanding
the foregoing, in connection with a Change in Control, the Optionee shall receive the greater of the benefits provided under Article 18 of the Plan or any such Other Agreement to which the Optionee is a party, without duplication. 

(g) 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 the Option Agreement shall control. 

  
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 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(f) of this Option Agreement (which governs a Change in Control situation), Optionee agrees that: 

(a) Except to the extent Optionee is or subsequently becomes a party to an Other Agreement (which, for the avoidance of
doubt and for purposes of this Agreement, is as defined in the Plan), 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 Option Agreement or
the Plan’s terms are inconsistent with an Other Agreement, the provisions of Optionee’s Other Agreement shall govern and control, subject to the special exception provided under Section 5(f) of this Option 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 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 registered shares 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 registered shares of the Company effected without the receipt of consideration by the Company; 
 (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; and 

(c) for the avoidance of doubt, make any other adjustments, modifications, replacements, or exchanges permitted by the
Plan, including without limit, the Plan’s Articles 18 and 19. 
 Notwithstanding anything to the contrary, any such actions taken 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 rights and interest to this Option; 

  
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 (b) any Shares issued upon exercise of the Option then owned by or for the
benefit of 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 and other documents implementing the above-described forfeiture to its transfer agent,
Cede & Co., the depository or any of its nominees, and/or any other person 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. The Optionee hereby grants the Company a proxy on his or her behalf, and the Optionee hereby agrees to execute any documents necessary or appropriate to carry out the foregoing. 

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 Grant Date. 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 Optionee’s exercise of the Option. Optionee 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 Optionee is an Employee, the Company will be required to withhold from Optionee’s
compensation or collect from Optionee and pay to the applicable taxing authorities an amount of income and employment taxes equal to a percentage of this compensation income at the time of exercise. 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. Optionee is obligated as a condition of exercise of this Option to satisfy any applicable
withholding tax obligations that apply thereto. 
 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 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, and, for the avoidance of doubt, in the event this Option Agreement does not address an issue addressed by the Plan, 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 is employed, or was most recently employed, by the Company. 

  
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 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, 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. 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. 

14. Employment Matters. The award of this Option does not form part of Optionee’s entitlement to remuneration or
benefits in terms of Optionee’s employment with his or her employer. Optionee’s terms and conditions of employment 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 Option Agreement or of the Option granted hereunder shall give the Optionee any right to continue in the service or employ of the Company or any Affiliate, create any inference as to the length of employment or service of the Optionee, affect
the right of the Company or any Affiliate to terminate the employment or service of the Optionee, with or without Cause, 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 Option Agreement) that the granting of Options under this Option Agreement are made on a fully discretionary basis by the Company and that this Option Agreement does
not lead to a vested right to further Option awards in the future. Further, the Options set forth in this Option Agreement constitute a non-recurrent benefit and the terms of this Option Agreement are only applicable to the Options distributed
pursuant to this Option Agreement. 
 15. Tax Provisions Applicable to Non-US Persons. This Section 15 shall
apply to Optionee if he or she is 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 he or she holds this Option or the Shares issued pursuant thereto.

 (a) Applicable if Optionee is not a US person (including as to UK persons): Optionee hereby
agrees 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 Option, vesting of the Shares or the exercise of the Option. 

  
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 (b) Applicable if Optionee is 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 Optionee 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 Optionee; or 
 (ii) withholding from the issuance to Optionee of that number of
Shares (otherwise to be acquired by Optionee 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. 

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 Optionee’s rights under this Option Agreement without his or her
consent. 
 19. Representations. As a condition to Optionee’s receipt of this Option, Optionee represents and
warrants the following: 
 (a) Optionee is aware of the Company’s business affairs and financial condition
and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to accept this Option; 
 (b) Optionee is acquiring the Option and the Shares subject thereto for investment only for his or her own account, and not with a view, or for resale in connection with, any “distribution”
thereof under Applicable Law; 
 (c) Optionee understands 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 his or her investment intent as set forth above; 

(d) Optionee further understands that prior to any resale by him or her of the Shares acquired upon exercise of this
Option without registration of such resale in relevant State jurisdictions, the Company may require him or her to furnish the Company with an opinion of counsel acceptable to the Company that he or she may sell or transfer such Shares pursuant to an
available exemption under Applicable Law; 
 (e) Optionee understands that the Company is under no obligation to
assist him or her in this process by registering the Shares in any jurisdiction or by ensuring that an exemption from registration is available; and 
 (f) Optionee further agrees that as a condition to exercise of this Option, the Company may require him or her to furnish contemporaneously dated representations similar to those set forth in this
Section 19. 

  
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 EXHIBIT A 
 FOSTER WHEELER AG OMNIBUS INCENTIVE PLAN 
 Exercise Notice of Options of
Foster Wheeler AG 
  

			
	Date:	  	[Date]
		
	From:	  	[Name, Address, e-mail]
		
	To:	  	Foster Wheeler AG
		  	 c/o Foster Wheeler Inc.

Perryville Corporate Park
 53 Frontage
Road
 PO Box 9000
 Hampton, NJ
08827-9000

 Ladies and Gentlemen, 
 I herewith exercise [number of options] granted to me in the Nonqualified Stock Option Grant dated [date of award agreement] under the [name of plan] which entitle me to [number of shares, which number
should be equal to the number of options set forth above] registered shares of Foster Wheeler AG with a par value of x Swiss francs (CHF). 
 I unconditionally subscribe for the number of registered shares as stated above and undertake to pay the exercise price of [exercise price] US dollars (USD) per share as stated in the respective plan
and/or agreement. 
 I request that Foster Wheeler AG deliver [number of shares] out of its conditional capital according to Article 5 of its
Articles of Association after the receipt of my payment and I herewith assign and transfer these shares to Cede & Co. in its capacity as Nominee of the Depository Trust Company, New York City, in order to and with the sole purpose of
enabling the electronic trading of the aforementioned shares on the NASDAQ Global Select Market. 
  

	
	Yours sincerely,
	
	  

	[Name]EX-10.22

 Exhibit 10.22 
 TEMPLATE FORM—November 2012 
 FOSTER WHEELER AG OMNIBUS INCENTIVE
PLAN 
 Employee Restricted Stock Unit Award Agreement 

 

			
	Name of Participant:	  	
		
	Grant Date:	  	[November     , 2012]
		
	Number of Restricted Stock Units Awarded:	  	

 Pursuant to the Foster Wheeler AG 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 registered shares of Foster Wheeler AG (the “Company”) on
the terms and conditions set forth herein. Unless otherwise defined in this Restricted Stock Unit Agreement (this “Agreement”) (including, for the avoidance of doubt, definition by incorporation through Section 2 of this
Agreement), the terms used in this Agreement shall have the meanings defined in the Plan. 
 1. Grant and 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 the number of Restricted Stock Units (the “Units”) set forth above. Units will be settled only in Shares 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 an Other Agreement (which, for the avoidance of doubt
and for purposes of this Agreement, is as defined in the Plan), 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; Assignment and Proxy; Payment of Par Value.

 (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 whole 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 the first (1st) anniversary of [the Grant Date]; 
 (ii) Another one-third of the Units
shall vest on the second (2nd) anniversary of [the Grant
Date]; and 
 (iii) The remaining one-third
of the Units shall vest on the third (3rd) anniversary of [the Grant Date]. 
 (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, 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 your
termination of employment other than during a Change in Control Period but as a result of your Involuntary Termination or Resignation for Good Reason, all unvested Units shall be immediately be forfeited; provided, however, that if you are a party
to an Other Agreement and such Other Agreement contains provisions regarding the vesting or forfeiture of Units upon Involuntary Termination or Resignation for Good Reason other than during a Change in Control Period (or the substantial equivalent
thereof), the unvested Units shall vest or be forfeited in accordance with the terms of your Other Agreement. 

(d) Termination as a Result of Retirement. In the event of your termination of employment as a result of
your Retirement (which, for the avoidance of doubt and for purposes of this Agreement, is as defined in 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 the Grant Date to the end of the
month in which the date of termination due to Retirement occurs, and the denominator of which is thirty-six (36), 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. 

  
 2 

 Example: The following example is included merely for demonstrative
purposes. 
 Ann is granted 1,000 Units on March 4, 2011. She will vest in her Units as follows:
(1) 333 Units on the 1st anniversary of the Grant
Date, (2) 333 Units on the 2nd anniversary of the
Grant Date, and (3) 334 Units on the 3rd anniversary
of the Grant Date. Ann subsequently terminates her employment by Retirement effective August 18, 2012. 
 As of
August 18, 2012, Ann will immediately vest in additional unvested Units equal to the amount of 167 (equal to 1,000 Units multiplied by 18 months of employment divided by 36 reduced by 333 Units
previously vested). 
 If your Restricted Stock Unit Award is subject to Section 409A, the Units in which you are deemed by
Section 409A to vest in any given calendar year as a result of your becoming fully eligible for Retirement, regardless of whether you have actually incurred a separation from service in that year, shall vest on December 31 of that year and
shall be settled upon the earlier of (A) your separation from service as defined by Section 409A, or (B) a date of the Company’s choosing between February 10 and March 10 of the calendar year immediately after the year
in which such Units were deemed to vest. 
 (e) Termination for Cause. In the event your employment
is terminated for Cause, all unvested Units and all Shares received in 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, Involuntary Termination, Resignation for Good Reason, Retirement, or Cause, all unvested Units shall expire immediately, be forfeited and considered null and void. 

(g) Change in Control Acceleration. In the event of your termination of employment during a Change in
Control Period as a result of your Involuntary Termination or Resignation for Good Reason, any unvested Units shall immediately become fully vested, effective as of the date of such Involuntary Termination or Resignation for Good Reason, provided,
however, that if you are a party to an Other Agreement and such Other Agreement contains provisions regarding the vesting or forfeiture of Units upon Involuntary Termination or Resignation for Good Reason during a Change in Control Period (or the
substantial equivalent of any of the foregoing) in a manner consistent with Article 18 of the Plan, the unvested Units shall vest or be forfeited in accordance with the terms of your Other Agreement. Notwithstanding the foregoing, in connection with
a Change in Control, you shall receive the greater of the benefits provided under Article 18 of the Plan or any such Other Agreement to which you are a party, without duplication. 

(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 in settlement of the Units are
required to be forfeited under this Agreement, 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 

  
 3 

 
forfeiture under this Agreement 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. 

(j) Assignment and Transfer. For the sole purpose of enabling electronic trading of the awarded Shares on
the NASDAQ Global Select Market, the awarded Shares must be assigned and transferred to Cede & Co., the Nominee of the Depository Trust Company, a US clearing agency. By signing this Agreement, you make such assignment and transfer to
Cede & Co., effective upon the date of delivery of Shares under this Agreement. By signing this Agreement, you also (i) appoint the Company’s Secretary and each of its Assistant Secretaries your proxy with the right of
substitution to make such assignment and transfer to Cede & Co. and (ii) agree to execute and deliver any further documents as the Company or Cede & Co. may require in order to effectuate such assignment and transfer to
Cede & Co., all with such assignment and transfer being effective upon the date of delivery of Shares under this Agreement. For the avoidance of doubt, the foregoing assignment and transfer will not adversely affect your beneficial
ownership of, or ability to trade, the awarded Shares. 
 (k) Exercise Notice. Swiss law requires
the execution of an exercise notice for Shares to issue out of the conditional capital of the Company. By signing this Agreement, you appoint the Company’s Secretary and each of its Assistant Secretaries your proxy with the right of
substitution to execute and deliver an exercise notice at or about the time you vest in the Units. The Company reserves the right to require you to sign and deliver an exercise notice substantially in the form attached hereto as Exhibit A, with it
being understood that any payment of par value will be in accordance with paragraph (l) of this Section 3. 
 (l) Payment of Par Value. Swiss law and the Company’s Articles of Association require that par value be paid in cash to the Company for any Shares issued in settlement of your
Restricted Stock Unit Award if the Company does not have treasury shares available on the date of delivery of such Shares. However, if such cash payment is required, your employer has arranged with the Company to make the payment on your behalf as
part of your award. Accordingly, you yourself will not have to make any such payment. 
 (m) Termination of
Relationship. The Committee shall have the discretion to determine whether your employment has been terminated as well as the date of such termination of employment for purposes of this Restricted Stock Unit Award. 

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 rights and interest to these Units; 

(b) any Shares received in settlement of these Units then owned by you or by another person for your benefit; and

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

  
 4 

 Additionally, the Company shall have the right to issue a stop transfer order and other appropriate
instructions and other documents implementing the above-described forfeiture to its transfer agent, Cede & Co., the depository or any of its nominees, and/or any other person with respect to these Units 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. You hereby grant the Company a proxy on your behalf, and you hereby agree to execute any documents necessary or appropriate to carry out the foregoing. 

5. Form of Shares. The Company is authorized to issue registered shares in certificated or uncertificated form and it may
choose the form of issuance if and when registered shares issue. 
 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
registered shares 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 registered shares of the Company effected without the receipt of
consideration by the Company; 
 (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; and 
 (c) for the avoidance of doubt, make any other adjustments,
modifications, replacements, or exchanges permitted by the Plan, including without limit, the Plan’s Articles 18 and 19. 

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

7. Tax Withholding Obligations. As a condition to receipt of Shares in 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 delivered in settlement 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. 

  
 5 

 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 delivered in settlement of the Units under the laws in effect as of the Grant Date. THIS SUMMARY IS INCOMPLETE,
AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. YOU SHOULD CONSULT A TAX ADVISER BEFORE SETTLEMENT OF THIS RESTRICTED STOCK UNIT AWARD OR DISPOSING OF THE SHARES ISSUED IN SETTLEMENT. 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 Restricted Stock Unit Award’s 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 regarding any questions relating to the Restricted Stock Unit Award. In the event of a conflict between the terms and
provisions of the Plan and the terms and provisions of this Agreement, and, for the avoidance of doubt, in the event this Agreement does not address an issue addressed by the Plan, the Plan terms and provisions shall prevail. 

10. Restriction on Transferability. Until settlement of the Units and 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. 

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 delivery of the Shares in settlement of the Units, you will, subject to and governed by the procedures under the Company’s Articles of Association, obtain voting
and other rights. 
 12. Designation of Beneficiaries. You may, in accordance with procedures established by the
Committee, designate one or more beneficiaries to receive all or part of any Shares to be distributed to you hereunder in 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) 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. 

  
 6 

 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 its 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. 
 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, 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
in settlement thereof. 

  
 7 

 (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 in 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 in 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 you are unable to satisfy your 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 you. 
 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. 
 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 in 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; 

(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 in 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; 

  
 8 

 (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.

 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. 
  

			
	Accepted and Agreed to by Participant:	  	 

			
		  	        Participant
		
	Acknowledged and Agreed to by Company:	  	 
		  	                        Lisa Z.
Wood
		  	                        Controller

  
 9 

 EXHIBIT A 
 FOSTER WHEELER AG OMNIBUS INCENTIVE PLAN 
 Exercise Notice of RSUs of
Foster Wheeler AG 
  

			
	Date:	  	[Date]
		
	From:	  	[Name, Address, e-mail]
		
	To:	  	Foster Wheeler AG
		  	c/o Foster Wheeler Inc.
		  	Perryville Corporate Park
		  	53 Frontage Road
		  	PO Box 9000
		  	Hampton, NJ 08827-9000

 Ladies and Gentlemen, 
 I herewith exercise [number of RSUs] granted to me in the Restricted Stock Unit Award Agreement dated [date of award agreement] under the [name of plan] which entitle me to [number of shares, which number
should be equal to the number of RSUs set forth above] registered shares of Foster Wheeler AG with a par value of [  X  ] Swiss francs (CHF). 
 I unconditionally subscribe for the number of registered shares as stated above and undertake to pay as the exercise price an equal amount of at least [  X  ] CHF per
share, paid in US dollars (USD) while taking into consideration a CHF-USD exchange rate as effective on the day of the delivery of the shares. 

I request that Foster Wheeler AG deliver [number of shares] out of its conditional capital according to Article 5 of its Articles of Association after
the receipt of my payment and I herewith assign and transfer these shares to Cede & Co. in its capacity as Nominee of the Depository Trust Company, New York City, in order to and with the sole purpose of enabling the electronic trading of
the aforementioned shares on the NASDAQ Global Select Market. 
  

	
	Yours sincerely,
	
	  

	[Name]

  
 10

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