Document:

Exhibit 10.16

AECOM TECHNOLOGY CORPORATION 

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

Effective
July 1, 1996

Restatement
1997

   
 

AECOM
TECHNOLOGY CORPORATION 

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

I.                            ESTABLISHMENT AND PURPOSE

1.1         Effective
July 1, 1996, AECOM Technology Corporation has established this Supplemental
Executive Retirement Plan (“Plan”) to supplement the retirement benefits payable to certain employees under the
AECOM Pension Plan. This Plan is intended to be an unfunded plan
maintained by the Company primarily for the purpose
of providing deferred compensation for a select group of management or highly
compensated employees described in Section 201(2) of ERISA.

1.2        Effective
November 20, 1997, the Plan was restated to reflect the expansion of Beneficiaries of pre-Retirement Death Benefits
and elimination of the 50% joint & survivor annuity

II.                        DEFINITIONS

2.1        Actuarial
Equivalent means a benefit of equivalent value, calculated using the 1971 GAM Table (75% Male, 25% female) and an
8-1/2% interest rate; however, when calculating an Actuarial Equivalent
lump sum benefit under Section 3.5(b)(1) or
3.6, the guaranteed installment options under Section 3.5(b)(2) or the annuity
value under Section 3.1(b)(2), mortality shall be determined using the 1983 GAM Table and the interest rate shall be
equal to the sum of the rate on 10-year U.S. Treasury notes in effect on
the first day of the Plan Year preceding or coincident
with the Retirement Date plus 50 basis points.

2.2       AECOM
Pension Plan means the AECOM Technology Corporation Pension Plan, as
amended from time to time.

2.3       Beneficiary
means the person(s) designated by the Participant in writing to receive the
remaining installments under the five- or ten-year guaranteed installment
option if the Participant dies before receiving all installments, or to receive
the pre-Retirement Death Benefit described
in Section 3.6. The Participant may change the Beneficiary at any time
by submitting a signed written designation to the Committee. If the designated
Beneficiary fails to survive the Participant and the Participant has not
designated a successor Beneficiary, the remaining installment payments shall be
paid to the Participant’s surviving spouse, or if there is no spouse, his surviving
descendants by right of representation or if there are none, his estate. If the
Beneficiary survives the Participant, but dies before receiving all remaining
installments, the remaining installments shall be paid to the Beneficiary’s
estate.

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2.4    Board
of Directors means the Board of Directors of the Company.

2.5     Change of
Control shall be deemed to occur when any person (as defined in Section
13(d) of the Securities Exchange Act of 1934), other than the Company or any
subsidiary or employee benefit plan or trust maintained by the Company, shall
become the “beneficial owner” (as defined in Rule 13d-3 under the Securities
Exchange Act of 1934), directly or indirectly, of more than 25% of the common
stock of the Company outstanding at the time, without the prior approval of the
Board of Directors. A Participant’s
employment is deemed to have been terminated on account of Change of
Control if he is involuntarily terminated by the Company within 36 months
following a Change of Control.

2.6    Code means the Internal Revenue
Code of 1986, as amended from time to time.

2.7     Committee means the Pension
Committee or such other committee designated or appointed by the Board of
Directors to administer the Plan.

2.8    Company means AECOM Technology
Corporation.

2.9     Constructive Termination
means a voluntary termination of employment by the Participant within 36 months
following a Change of Control if (a) the Participant is demoted by a change in
his title, responsibilities, duties, support services, etc.; (b) the sum of the
Participant’s salary, bonus, and incentive pay is materially reduced; or (c)
the Participant’s aggregate benefits (including retirement, welfare and fringe
benefits) are materially reduced, other than as a result of legislation.

2.10   Disability
has the same meaning as under the AECOM Pension Plan.

2.11    Early
Retirement Date means the first date on which a Participant has attained
age 55 and has been a Participant for 36 months.

2.12    Effective Date
means July 1, 1996.

2.13    ERISA means
the Employee Retirement Income Security Act of 1974, as amended from time to
time.

2.14   Normal
Retirement Age means the first date on which a Participant has attained age
62 and has been a Participant for 36 months.

2.15   Participant
refers to an employee of the Company who (a) is a member of a select group of
management or highly compensated employees (within the meaning of Section
201(2) of ERISA), (b) has completed at least 5 Years of Service, (c) is at
least 50 years old, (d) has a date of hire or adjusted date of hire if later)
on or after March 1, 1996, and (e) has been selected by the Board of Directors
to participate

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in this Plan. The Committee shall maintain a record of
Participants.

2.16    Plan
Administrator means the Committee.

2.17    Plan Year means the
twelve-month period ending on September 30, with the first Plan Year beginning
July 1,1996 and ending September 30, 1996.

2.18    Retirement Date
means the first day of the month following a Participant’s termination of
employment for any reason, including death.

2.19       Spouse means the person to
whom the Participant is married on his Retirement Date or on his date of death,
if earlier.

2.20    Unlimited AECOM Pension
Plan Benefit means the annual benefit the Participant would have received
under the AECOM Pension Plan if:

(a)                     Code
Sections 401 (a)(17) and 415 did not apply;

(b)                    the
benefit was paid as a single life annuity commencing on the Participant’s
Retirement Date;

(c)                     there
was no actuarial reduction in the AECOM Pension Plan for commencement of
benefits at age 62 or later; and

(d)                    the
AECOM Pension Plan permitted retirement at any age.

2.21    Year
of Service means a year of Credited Service as defined in the AECOM Pension
Plan.

III.                    RETIREMENT AND
DEATH BENEFITS

3.1    Normal
Retirement Benefits

A Participant who terminates employment with the
Company on or after attaining Normal Retirement Age and who executes the
agreement not to compete described in Section 3.7 shall be entitled to an
annual benefit which is equal to (a) minus (b):

(a) the Participant’s Unlimited AECOM Pension Plan
Benefit;

(b) the sum of(l) and (2)

(1)                    The
annual benefit payable to the Participant under the AECOM Pension Plan
determined as though benefits were being paid as a

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single life annuity commencing on the Participant’s
Retirement Date.

(2)          The Credit from the
following table, converted to an Actuarial Equivalent single life annuity
commencing on the Participant’s Retirement Date.

	
  For Retirement Date in

  	
   

  	
  ESOP Participation

  Commencing in Plan Year

  Beginning in:

  	
   

  
	
  Plan Year Ending in:

  	
   

  	
  1996

  	
   

  	
  1997

  	
   

  
	
  1997

  	
   

  	
  $

  	
  8,800

  	
   

  	
  $

  	
  0

  	
   

  
	
  1998

  	
   

  	
  17,800

  	
   

  	
  8,800

  	
   

  
	
  1999

  	
   

  	
  18,700

  	
   

  	
  9,300

  	
   

  
	
  2000

  	
   

  	
  19,600

  	
   

  	
  9,700

  	
   

  
	
  2001 and later

  	
   

  	
  19,600

  	
  *

  	
  9,700

  	
  *

  
								

*                            plus
5% compounded annually

3.2                   Early Retirement Benefits

A Participant who terminates employment on or after
his Early Retirement Date and before attaining Normal Retirement Age and who
executes the agreement not to compete described in Section 3.7 shall be
entitled to an annual benefit equal to (a) minus (b), where (a) is an annual
benefit equal to the benefit determined under Section 3.1(a), reduced 1/180th
for each month by which the Participant’s age on his Retirement Date is less
than 62, and (b) is the benefit determined under Section 3. l(b).

3..3                    Termination of Employment

(a)                     A
Participant who terminates employment with the Company prior to his Early
Retirement Date (other than on account of Disability, Change of Control or
Constructive Termination) shall not be entitled to any benefits under this
Plan.

(b)                    A
Participant who terminates employment with the Company prior to his Early
Retirement Date on account of Disability, Change of Control or Constructive Termination is entitled to an annual
benefit which is equal to (1) minus (2):

(1)                    The
Actuarial Equivalent of the Unlimited AECOM Pension Plan Benefit payable at his
Early Retirement Date;

(2)                    The sum of (A) and (B):

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(A)                 The
Actuarial Equivalent of the annual benefit payable to the Participant under the
AECOM Pension Plan as a single life annuity commencing on his Early Retirement
Date.

(B)                   The
single life annuity described in Section 3.1(b)(2).

(c)                     A
Participant whose employment is terminated for cause shall not be entitled to
any benefits under the Plan. A termination is “for cause” if the Participant is
terminated for reasons related to the commission by the Participant in the
course of employment of any material act of dishonesty, the disclosure by the
Participant of any confidential information or the commission by the
Participant of any act of gross carelessness or willful misconduct.

3.4                   Rules
Regarding Reductions

For purposes of calculating the amounts under
paragraph (b) of Section 3.1, the following rules shall apply:

(a)                     Any
portion of the Participant’s benefits under the AECOM Pension Plan which is
payable (or has been paid) to another person pursuant to a court order shall be
treated as payable to the Participant.

(b)                    The
Participant’s benefit, if any, under the AECOM Pension Plan shall be determined
without regard to whether benefits have commenced, have not commenced, or have
been paid in full and without regard to the actual form of payment elected by
the Participant.

3.5                   Form
of Benefit

(a)                     Unless
a Participant makes an election pursuant to this Section, the Participant’s
benefit under Section 3.1, 3.2 or 3.3, as the case may be, shall be paid in
equal monthly installments over the Participant’s life, commencing on his
Retirement Date and ending with the last payment made before his death.

(b)                    The
Participant may elect to receive his benefit in one of the following forms:

(1)                    A
lump sum paid on his Retirement Date which is the Actuarial Equivalent of the
benefit described in paragraph (a).

(2)                    A
five- or ten-year term certain, as the Participant elects, which is the
Actuarial Equivalent of the benefit described in paragraph (a), paid in equal
annual installments commencing on the Retirement

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Date. If the Participant dies after installments
commence but before receiving all installment payments, the remaining
installments will be paid as they come due to the Participant’s Beneficiary.

(3)                    A
50% joint and survivor annuity which is the Actuarial Equivalent (calculated
using 6% instead of 8-1/2%) of the benefit described in paragraph (a). Under
this form, the Participant receives a reduced monthly payment for life. On his
death, his surviving Spouse will receive a monthly benefit equal to 50% of the
benefit the Participant was receiving. The Participant’s benefit will commence
on his Retirement Date and end with the last payment made before his death. The
Spouse’s survivor annuity will commence on the first day of the month following
the Participant’s death and end with the last payment made before the Spouse’s
death. If the Spouse does not survive the Participant, no survivor benefits
will be paid. If the Participant is not married on his Retirement Date, his
election under this subparagraph will be deemed revoked and unless his election
specified an alternative default choice, his benefit will be paid pursuant to
paragraph (a).

(c)                     The
Participant’s election must be made in writing within 30 days of the date he is
notified by the Company of his participation in the Plan. The election is
irrevocable.

3.6                   Pre-Retirement
Death Benefits

If the Participant dies while employed by the Company
(whether or not before his Early Retirement Date), his Beneficiary shall
receive the Actuarial Equivalent of the Participant’s benefit under the Plan.

3.7                   Agreement
Not To Compete

In no event shall any benefit be payable under this
Plan without the Participant having signed an agreement that, during the five
year period beginning on the Retirement Date, he shall not, without the written
consent of the Company, directly or indirectly engage in, or become interested
in any business which is engaged in the business in which the Company has been
engaged with any Client (as hereinafter defined) or otherwise undertake any
employment or competitive activity wherein the loyal and complete fulfillment
of the duties of the employment or activity would call upon the Participant to
reveal, evaluate, make judgments on, or otherwise use, any confidential
information or trade secrets of the Company. As used herein, the term “Client”
shall mean any customer to which the Company has provided its services within
the three years preceding the Retirement Date. In no event shall the agreement
be construed to prohibit the acquisition by the Participant of a publicly
traded security of a corporation

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engaged in such business so long as (a) the
Participant has acquired such security for investment purposes, and (b) the
Participant does not own, directly or indirectly, more than 5% of the voting
interest of such corporation. The agreement shall also provide that the
Participant shall not, for the five-year period commencing one year before his
Retirement Date, induce, entice, solicit or influence, directly or indirectly,
any person who is engaged as an employee, agent or independent contractor by
the Company to terminate such person’s employment or engagement or to work with
the Participant or with any person or business entity or venture with which the
Participant becomes affiliated. This Section shall not apply if the Participant’s
Termination of Employment is on account of death, Disability, Change of Control
or Constructive Termination.

3.8                   Non-Duplication
of Benefits

A Participant who becomes vested in his Plan shall
cease to be eligible for any benefits under the AECOM Technology Corporation
Excess Benefit Plan, including benefits earned prior to becoming vested under
this Plan. For purposes of this section, “vested” means the Participant has
either (a) reached the earlier of his Early Retirement Date or Normal
Retirement Age or (b) terminated on account of Disability, Change of Control or
Constructive Termination.

IV.                    AMENDMENT AND
TERMINATION

4.1                   Amendment

The Board of Directors reserves the right in its
discretion to amend this Plan at any time in whole or in part, provided,
however, that no amendment shall result in the forfeiture of any Participant’s
Plan benefits earned prior to the date the Board adopts the amendment. The
Company shall notify Participants (and the Spouses of deceased Participants) of
any amendments which affect the amount or timing of benefits within 90 days of
the effective date of such amendments.

4.2                   Termination

The Board of Directors may terminate the Plan at any
time. Termination shall not result in the forfeiture of any Participant’s
benefits earned prior to the date the Board adopts a resolution terminating the
Plan.

V.                        ADMINISTRATION

5.1                   This
Plan shall be adopted by the Company and shall be administered by the
Committee.

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5.2                   The
Committee shall have the sole authority, in its discretion, to adopt, amend and
rescind such rules and regulations as it deems advisable in the administration
of the Plan, to construe and interpret the Plan, and the rules and regulations,
and to make all other determinations and interpretations of the Plan. All
decisions, determinations, and interpretations of the Committee shall be final
and binding on all persons, except as otherwise provided by law. Committee
members who are Participants shall abstain from voting on any Plan matters that
would cause them to be in constructive receipt of benefits under the Plan. The
Committee may delegate its responsibilities as it sees fit.

5.3                   If
a Participant or Spouse believes benefits have been incorrectly calculated or
denied, such person may file a claim with the Committee. The Committee shall
follow the claims procedures in the AECOM Pension Plan.

5.4                   All
Plan administrative expenses shall be paid by the Company.

5.5                   The
Company shall indemnify the Committee and each Committee member against any and
all claims, losses, damages, expenses (including reasonable counsel fees), and
liability arising from any action, failure to act, or other conduct in the
member’s official capacity, except when due to the individual’s own gross
negligence or willful misconduct.

VI.                    GENERAL
PROVISIONS

6.1                   No
Funding Obligation. The amounts accrued by a Participant hereunder are not
held in a trust or escrow account and are not secured by any specific assets of
the Company or in which the Company has an interest. This Plan shall not be
construed to require the Company to fund any of the benefits provided hereunder
nor to establish a trust for such purpose. The Company may make such arrangements
as it desires to provide for the payment of benefits. Neither the Participant,
the Spouse nor the Participant’s estate shall have any rights against the
Company with respect to any portion of the Participant’s benefits except as a
general unsecured creditor of the Company. No Participant has an interest in
his benefits until the Participant actually receives payment.

6.2                   Non-alienation
of Benefits. No benefit under this Plan may be sold, assigned, transferred,
conveyed, hypothecated, encumbered, anticipated, or otherwise disposed of, and
any attempt to do so shall be void. No such benefit shall, prior to receipt
thereof by a Participant or Spouse, be in any manner subject to the debts,
contracts, liabilities, engagements, or torts of such Participant.

 9
 

6.3                   Limitation
of Rights. Nothing in this Plan shall be construed to limit in any way the
right of the Company to terminate a Participant’s employment at any time for
any reason whatsoever with or without cause; nor shall it be evidence of any
agreement or understanding, express or implied, that the Company (a) will
employ a Participant in any particular position, (b) will ensure participation
in any incentive programs, or (c) will grant any awards from such programs.

6.4                   Applicable
Law. This Plan shall be construed and its provisions enforced and
administered in accordance with the laws of the State of California except as
otherwise provided in ERISA.

This Plan is hereby
adopted by the Company on this 20TH day of November, 1997.

	
  

  	
   

  	
  AECOM TECHNOLOGY CORPORATION

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  By

  	
  /s/ Dennis Tons

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its

  	
   

  
					

 

 10Exhibit 10.17

FIRST
AMENDMENT TO

AECOM TECHNOLOGY
CORPORATION

SUPPLEMENTAL EXECUTIVE
RETIREMENT PLAN,

THIS
AMENDMENT, by AECOM Technology Corporation, hereinafter
sometimes referred to as the “Company,” is made with reference to the following
facts:

Effective July 1, 1996,
AECOM Technology Corporation adopted the AECOM
Technology Corporation Supplemental Executive Retirement Plan, which
reserves to the Board of Directors of AECOM Technology Corporation the right to
amend said Plan (Section 4.1 thereof). The Company has executed this First
Amendment for the purpose of amending said Plan in the manner hereinafter
provided.

NOW,
THEREFORE, the AECOM
Technology Corporation Supplemental Executive Retirement Plan is hereby amended as
follows, effective July 1, 1998:

I.

The first clause of
Section 3.1(b) is hereby amended as follows:

“(b)the sum of (1), (2)
and(3)”

II.

Section 3.1 is hereby
amended by adding the following new subsection (b)(3) herein:

“(3) the Participant’s
Management Supplemental Executive Retirement Plan Benefit, if any.”

 1
 

III.

The first clause of
Section 3.3(b)(2) is hereby amended as follows:

“ (2) The sum of (A),
(B), and (C):”

IV.

Section 3.3 is hereby
amended by adding a new subsection (b)(2)(C) as follows:

“ (C) The Actuarial
Equivalent of the annual benefit payable to the Participant under the
Management Supplemental Executive Retirement Plan as a single life annuity
commencing on his Early Retirement Date.”

VI.

Section 6.1 is hereby
amended to provide in its entirety as follows:

“No Funding Obligation.
The amounts accrued by a Participant hereunder are not held in a trust or
escrow account and are not secured by any specific assets of the Company or in
which the Company has an interest. This Plan shall not be construed to require
the Company to fund any of the benefits provided hereunder nor to establish a
trust for such purpose. The Company may make such arrangements as it desires to
provide for the payment of benefits. Neither the Participant, the Spouse nor
the Participant’s estate shall have any rights against the Company with respect
to any portion of the Participant’s benefits except as a general unsecured
creditor of the Company. No Participant has an interest in his benefits until
the Participant actually receives payment. Notwithstanding the foregoing, the
Company may create and fund a “rabbi trust” (the “Trust”) with respect to this
Plan. The creation and funding of said Trust shall not create a security
interest in the property of such Trust in favor of the Participant, the Spouse
or the Participant’s estate, or otherwise cause a funding of the Plan or Trust
in any manner inconsistent with the preceding provisions of this Section 6.1.
The amount of any contributions to such Trust shall be totally discretionary as
determined by the Company. Any amount paid from such Trust to the Participant
shall reduce the amount to be paid pursuant to this Plan by the Participating
Employer. In the event the amounts paid from the Trust are insufficient to
provide the full

 2
 

benefits payable to the Participant under this Plan, the Participating
Employer shall pay the remainder of such benefit in accordance with the terms
of this Plan. It is the intention of the Participating Employers that this Plan
and Trust be considered unfunded for purposes of the Code and Title 1 of ERISA.”

IN
WITNESS WHEREOF, the Company has caused this First Amendment
to be executed as of the dates contained herein.

	
  

  	
   

  	
  AECOM
  Technology Corporation

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ R. Keefe Griffith

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Date:

  	
  9/21/98

  

 

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