Document:

EX-10.11

 Exhibit 10.11 

RESTRICTED AWARD UNIT AGREEMENT 

Parsons Corporation 
 THIS
AGREEMENT, made as of January 1, 2019 (the “Date of Grant”), between Parsons Corporation, a Delaware Corporation (the “Company”), and
                 (the “Participant”). 

WHEREAS, the Company has adopted the Parsons Corporation Restricted Award Plan (as amended to date, the “Plan”) in order to
provide an additional incentive to certain employees of the Company and its subsidiaries; and 
 WHEREAS, the Chief Executive Officer has
determined to grant to the Participant, Restricted Award Units as provided herein to encourage the Participant’s efforts toward the continuing success of the Company. 

NOW, THEREFORE, the parties hereto agree as follows: 

1. Grant of Restricted Award Units. 

1.1 The Company hereby grants to the Participant an award of
                 Restricted Award Units (the “Award”). The Award is the contingent right to receive an amount that is to be
distributed to a Participant in the event vesting provisions and other criteria as specified in this Agreement have been achieved. Except as provided in the Plan for vested Awards whose payment has been deferred and credited to a Deferral Account, a
Restricted Award Unit (“RAU”) shall have a value equal to the most recent Published Share Price (which value may be paid in cash or in shares, as described below). The RAUs granted pursuant to the Award shall be subject to the
execution and return of this Agreement by the Participant (or the Participant’s estate, if applicable) to the Company as provided in Section 8 hereof. 

1.2 This Agreement shall be construed in accordance and consistent with, and subject to, the provisions of the Plan (the provisions of which
are hereby incorporated by reference) and, except as otherwise expressly set forth herein, the capitalized terms used in this Agreement shall have the same definitions as set forth in the Plan. 

2. Restrictions on Transfer. 

The RAUs issued under this Agreement may not be sold or transferred. 

3. Lapse of Restrictions Generally. 

Except as provided in Sections 4, 5 and 6 hereof, the Restricted Award Units shall vest three years from the Date of Grant. 

4. Effect of Certain Terminations of Employment. 

Unvested RAUs will generally be forfeited upon any termination of the Participant’s employment. However, unvested RAUs will vest in
connection with certain qualifying terminations of employment as set forth in Article VI of the Plan. 
 5. Effect of Change in
Control. 
 Upon a Change in Control, RAUs will be treated as set forth in Article VII of the Plan. 

6. Forfeiture of Restricted Award Units. 

All RAUs which have not become vested in accordance with Section 3, 4 or 5 hereof (or, as provided in clause (ii) below, that may
have vested but have not yet been paid) shall be forfeited upon: 
 (i) the termination by the Participant, the Company or its subsidiaries
of the Participant’s employment for any reason prior to such vesting (but after giving effect to any RAUs that vest in connection with the termination of employment pursuant to Section 4); or 

(ii) the commission by the Participant of an Act of Misconduct prior to payment of vested RAUs; or 

  
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 (iii) the occurrence of a Change in Control (but after giving effect to any RAUs that vest
in connection with the Change in Control pursuant to Section 5). 
 For purposes of this Agreement, an “Act of Misconduct” shall mean
the occurrence of one or more of the following events: (x) the Participant uses for profit or discloses to unauthorized persons, confidential information or trade secrets of the Company or any of its subsidiaries, (y) the Participant
breaches any contract with or violates any fiduciary obligation to the Company or any of its subsidiaries. 
 7. Payment. 

Unless the Participant has made a valid deferral election pursuant to the Plan, all RAUs which have become vested in accordance with
Section 3 or 4 hereof shall be paid promptly after being vested but not later than the first March 15 following the year in which such RAUs became vested. If the Participant has made a valid deferral election pursuant to the Plan, all
vested RAUs shall be paid in accordance with the terms of the Plan. Payment may be made in cash, or at the election of the Administrative Committee in shares of common stock of the Company. If payment is made in shares, then the Participant will
receive one share for each vested RAU. 
 8. Execution of Award Agreement. 

The RAUs granted to the Participant pursuant to the Award shall be subject to the Participant’s execution and return of this Agreement to
the Company or its designee (including by electronic means, if so provided) no later than the earlier of (i) May ___, 2019 and (ii) the date that is immediately prior to the date that the RAUs vest pursuant to Section 4 or 5 hereof
(the “Participant Return Date”); provided that if the Participant dies before the Participant Return Date, this requirement shall be deemed to be satisfied if the executor or administrator of the Participant’s estate executes
and returns this Agreement to the Company or its designee no later than ninety (90) days following the Participant’s death (the “Executor Return Date”). If this Agreement is not so executed and returned on or prior to the
Participant Return Date or the Executor Return Date, as applicable, the RAUs evidenced by this Agreement shall be forfeited, and neither the Participant nor the Participant’s heirs, executors, administrators and successors shall have any rights
with respect thereto. 
 9. No Right to Continued Employment. 

Nothing in this Agreement or the Plan shall interfere with or limit in any way the right of the Company or its subsidiaries to terminate the
Participant’s employment, nor confer upon the Participant any right to continuance of employment by the Company or any of its subsidiaries. 

10. Withholding of Taxes. 

Prior to the delivery to the Participant (or the Participant’s estate, if applicable) of any payment in respect of the Award, the
Participant shall agree that no later than the date of payment of an Award granted hereunder, the Participant will pay the Corporation or make arrangements satisfactory to the Committee regarding payment of any federal, state, or local taxes of any
kind required by law to be withheld upon the vesting or payment of a RAU. Alternatively, the Committee may provide that a Participant may elect, to the extent permitted by law, to have the Company deduct federal, state and local taxes of any kind
required by law to be withheld upon the vesting or payment of any RAU from any payment of any kind to the Participant, including any shares to be issued in settlement of the Award. 

11. Participant Bound by the Plan; Clawback Policy. 

The Participant hereby acknowledges receipt of a copy of the Plan as in effect on the date hereof and agrees to be bound by all the terms and
provisions thereof. If Participant has been designated as a covered employee under the Company’s Executive Compensation Clawback Policy, the Participant hereby acknowledges receipt of a copy of the Executive Compensation Clawback Policy as in
effect on the date hereof and agrees to be bound by all the terms and provisions thereof. 

  
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 12. Modification of Agreement. 

This Agreement may be modified, amended, suspended or terminated, and any terms or conditions may be waived, but only by a written instrument
executed by the parties hereto. 
 13. Severability. 

Should any provision of this Agreement be held by a court of competent jurisdiction to be unenforceable or invalid for any reason, the
remaining provisions of this Agreement shall not be affected by such holding and shall continue in full force in accordance with their terms. 

14. Governing Law. 
 The
validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California without giving effect to the conflicts of laws principles thereof. 

15. Successors in Interest. 

This Agreement shall inure to the benefit of and be binding upon any successor to the Company. This Agreement shall inure to the benefit of
the Participant’s legal representatives. All obligations imposed upon the Participant and all rights granted to the Company under this Agreement shall be binding upon the Participant’s heirs, executors, administrators and successors. 

16. Resolution of Disputes. 

Any dispute or disagreement which may arise under, or as a result of, or in any way relate to, the interpretation, construction or application
of this Agreement shall be determined by the Committee. Any determination made hereunder shall be final, binding and conclusive on the Participant, the Participant’s heirs, executors, administrators and successors, and the Company and its
subsidiaries for all purposes. 
 17. Entire Agreement. 

This Agreement and the terms and conditions of the Plan constitute the entire understanding between the Participant and the Company and its
subsidiaries, and supersede all other agreements, whether written or oral, with respect to the Award. 
 18. Headings. 

The headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement. 

19. Counterparts. 
 This
Agreement may be executed simultaneously in two or more counterparts, each of which shall constitute an original, but all of which taken together shall constitute one and the same agreement. Photographic or PDF copies of such signed counterparts may
be used in lieu of the originals for any purpose. 
  

			
	PARSONS CORPORATION

 
			
		
	By:	 	 

 
			
	 PARTICIPANT
  
	 	 

  
 3EX-10.12

 Exhibit 10.12 

Parsons Corporation 

Non-Employee Director Compensation Policy 

(As of April 15, 2019) 
  

											
	Non-Employee Director Compensation		Fee		
Frequency
of Payment
  

	  

                         
                   Cash Compensation
  
		 		 
	  

Retainer
 Includes compensation for all the duties of a non-employee director, including attendance at regular, scheduled Board meetings and attendance by Committee members at Committee meetings held on regular, scheduled Board of Directors (“Board”) activity
days.
  
		$25,000 per
quarter, or
any portion of a
quarter		Quarterly
	  

Retainer for Committee Chairs

•   Audit

•   Compensation

•   Nominating and Governance

 
		    

$5,000
 $4,500

$3,750
		Quarterly
	  

Retainer for Committee Members

•   Audit

•   Executive*

•   Compensation

•   Nominating and Governance

 
		    

$2,875
 $2,875

$2,000
 $2,000
		Quarterly
	  

Retainer for Lead Independent Director
  
		$8,750		Quarterly
	  

Special Meeting Fees

•   Meetings in addition to and occurring on a day other than those days regularly scheduled for Board
activity
		In person:

$2,000Telephonic:
$1,000
  
		Per meeting
	  

Long-Term Incentive Compensation            

 
				
	  

For the period from Jan 1, 2019 until the Effective Date (as defined in the Parsons Corporation Incentive Award Plan (the “2019 Plan”)):

 
 Share Value Retirement Plan (the “SVRP”)

$160,000 annual target value
  

Retirement units credited quarterly, in arrears, to participant’s retirement account during active service, through Parsont’s anticipated initial public
offering (“IPO”).
  
 Credit calculated by dividing the monthly target dollar amount by
the share valuation in effect as of the first of each month, with rounding up of a fractional share unit.
  

Account Balance upon IPO: Assumes unit values (account balances) based on Parsons’ stock price. Determination of the Share Value (as defined in the SVRP) at the
scheduled payout date, for calculation of the cash payout, will be based on the 60 trading day weighted average price of Parsons’ common stock, up to and including the last day of the deferral period.

 
		$40,000 in the
form of

phantomshare units
		Quarterly
credit of
units to
retirement
account

 *Executive Committee Annual Retainer of $11,500 effective until project Lightyear is completed. 

					
	  
 For the period from and
after the Effective Date:
  
 2019 Plan

On the first day of each calendar quarter occurring prior to the first annual shareholders’ meeting following the Effective Date, each non-employee director will be granted such number of restricted stock units as is equal to (1) $40,000 (or, if applicable, such prorated amount for the portion of the calendar quarter in which the Effective Date
occurs following the Effective Date if an allocation was made under the SVRP for the portion of such quarter prior to the Effective Date) divided by (2) the 60 trading day weighted average of Parsons’ common stock, up to and including
grant date, rounded up to the nearest whole share. In the case where there is not yet 60 days of trading activity, value will be determined using available trading day weighted average of Parsons’ common stock at the time of grant.

 
 From and after the first annual shareholders’ meeting following the Effective Date, on the
date of each annual shareholders’ meeting, each non-employee director will be granted such number of restricted stock units as is equal to (1) the annual target target dollar amount (plus, with respect to
the first annual shareholders’ meeting following the Effective Date, a prorated quarterly target dollar amount for the portion of the calendar quarter in which such meeting occurs preceding the date of such meeting), divided by (2) the 60
trading day weighted average of Parsons’ common stock, up to and including grant date, rounded up to the nearest whole share.
  

The restricted stock units will vest on the first anniversary of the date of grant. The restricted stock units will also vest upon a Change in Control (as defined in the
2019 Plan), or a non-employee director’s death or disability, where disability shall mean an illness or other incapacitation which the Board determines is not a Section 409A Disability, but precludes
such non-employee director from fully discharging his or her responsibilities as a member of the Board. “Section 409A Disability” means, with respect to any
non-employee director, a disability as defined in Treasury Regulation Section 1.409A-3(i)(4)(i), as such term is defined in Section 409A of the Internal Revenue Code.

 
 Restricted stock unit award agreements will permit deferrals of the restricted stock unit awards
on terms to be determined by the Board.
  
 The awards described above shall be granted under and
shall be subject to the terms and provisions of the 2019 Plan, and shall be granted subject to the execution and delivery of award agreements in substantially the forms previously approved by the Board.

 
	 	 $160,000 

in the form of  

restricted  
 stock units  
	  	Annual    
	  

Director Fee Deferral Plan
 Each
non-employee director is entitled annually to defer part or all of the retainer fee(s)
 Post-retirement distribution options
include lump sum, or annual payments over 5 or 10 years, beginning January following departure.
  

 *Executive Committee Annual Retainer of $11,500 effective until project Lightyear is completed. 

	
	  

Director Liability Insurance
 Named beneficiary when acting in capacity as
director, under two Parsons Corporation insurance policies:
 •   Directors and Officers Liability
Insurance policy - $50 million aggregate coverage
 •   Directors and Officers Fiduciary Liability
Insurance policy - $35 million aggregate coverage
  

	  

Travel Accident Policy
 $500,000
(aggregate $5 million for Board per event)
  

	  

Travel Costs
 Travel will be
reimbursed based on the following guidelines, with receipts required for expense items > $25:

•   AIR TRAVEL: Domestic, First Class; International, Business Class

•   GROUND TRANSPORTATION: Rail, bus, taxi, parking, tolls, rental cars, and mileage at the IRS standard
mileage rate
 •   LODGING COSTS: As required for attending scheduled meetings. Saturday night
stay-over costs reimbursed if air-fare savings exceed the costs of lodging and meals and incidentals. All expenses incurred with add-on/personal travel (travel either
before or after board meetings that is scheduled at the sole discretion of the director) are the responsibility of the traveler.

•   SPOUSE/SIGNIFICANT OTHER TRAVEL: At the discretion and sole expense of the director. Ground
transportation and meal costs for those functions that are designated as social functions will be reimbursable by Parsons.
  

	  

Compensation Limits
 Notwithstanding anything to the contrary in this Policy,
all compensation payable under this Policy will be subject to any limits on the maximum amount of non-employee director compensation set forth in the 2019 Plan, as in effect from time to time.

 

	  

General
 The cash and long-term incentive compensation described in this Policy
shall be paid or be made, as applicable, automatically and without further action of the Board, to each member of the Board who is not an employee of Parsons or any parent or subsidiary of Parsons who is entitled to receive such cash or long-term
incentive compensation, unless such non-employee director declines the receipt of such cash or equity compensation by written notice to Parsons. This Policy shall remain in effect until it is revised or
rescinded by further action of the Board. This Policy may be amended, modified or terminated by the Board at any time in its sole discretion.
  

For the avoidance of doubt, the share numbers in this Policy shall be subject to adjustment as provided in the 2019 Plan, if applicable, including with respect to any
stock dividend effected on or prior to the Effective Date.
  

 *Executive Committee Annual Retainer of $11,500 effective until project Lightyear is completed.

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