Document:

EX-10.25

 Exhibit 10.25 

 
  
 

 
  
 April     , 2019 

Via Overnight Delivery 
 Mr. George L.
Ball 
 Chief Financial Officer 
 Parsons Corporation 

100 West Walnut Street 
 Pasadena, CA 91124 

Dear George: 
 This letter agreement (the “Agreement”)
will confirm the understanding and agreement among Parsons Corporation (the “Company”) and Newport Trust Company (“Newport Trust”) with respect to certain professional services to be provided by Newport Trust as set forth below.

  

	1.	 Newport Trust currently serves as trustee of the Parsons Employee Stock Ownership Plan (the “Plan”)
and the trust formed thereunder (the “Trust”, and, collectively with the Plan, the “ESOP”), which owns 100% of the outstanding common stock of the Company. The Company by this agreement appoints Newport Trust to serve as
independent fiduciary of the ESOP in connection with a potential Initial Public Offering (“IPO”) of shares of common stock of the Company (the “Proposed Transaction”). Newport Trust’s sole responsibilities pursuant to this
Agreement will be: (i) evaluating the terms of the Potential Transaction, including pricing of common stock to be issued in the IPO; (ii) evaluating the terms of the ESOP and any proposed changes thereto; (iii) negotiating on behalf
of the ESOP and its participants and beneficiaries what, if any, enhancements would be necessary to effectuate the Potential Transaction; (iv) reviewing and approving changes to the Trust documents, the Company’s Certificate of
Incorporation and Bylaws and other documents relating to the Potential Transaction; (v) obtaining in conjunction with the evaluation of any Potential Transaction, advice and evaluation with respect to the IPO from an independent financial
advisor and legal advisor; and (vi) determining whether the ESOP approves the Proposed Transaction. It is understood that in exercising its responsibilities pursuant to this Agreement, Newport Trust will rely on the opinion of its financial
advisor, Evercore Group L.L.C. (the “Financial Advisor”), that the consideration to be received by the ESOP is not less than fair market value and the Proposed Transaction is fair and reasonable to the ESOP from a financial point of view
(the “Financial Opinion”). If for any reason the Financial Advisor does not provide the Financial Opinion in a form reasonably satisfactory to Newport Trust at or prior to the closing of the Proposed Transaction, Newport Trust may in its
reasonable discretion decide not to approve the Proposed Transaction. 

  

	2.	 Newport Trust acknowledges and represents that, in acting as an ESOP fiduciary under this Agreement:

  

	 	a.	 it is a fiduciary within the meaning of Section 3(21) of the Employee Retirement Income Security Act of
1974, as amended (“ERISA”); 

  

	 	b.	 it will exercise independent discretionary judgment in the performance of its obligations hereunder in
accordance with the fiduciary requirements set forth in ERISA; 

  

	 	c.	 at all times, Newport Trust, shall perform and provide its services under this Agreement in compliance with the
provisions of this Agreement, ERISA and any other applicable laws and regulations; and 

  

	 	d.	 it will performs its services under the Agreement with the care, skill, prudence and diligence under the
circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of like character and with like aims. 

 

	3.	 The Company and its authorized delegates will furnish or cause to be furnished to Newport Trust all
relevant information reasonably requested by Newport Trust in order for Newport Trust to perform its obligations 

  
 

 

			
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hereunder. The Company and the Committee represent that the information which they or their delegates provide will be accurate and complete in all material respects to the best of the
Company’s or Committee’s knowledge, and it is understood that Newport Trust will rely on the accuracy of this representation to carry out its responsibilities pursuant to this Agreement. 

 

	4.	 Newport Trust agrees to keep and maintain confidential any
non-public information which it may receive or develop concerning this engagement; and disclose the information only to the extent contemplated by this Agreement, as required by law or with the prior written
consent of the Company. All information provided by the Company or its authorized delegates shall be used by Newport Trust solely for the purpose of rendering services pursuant to this Agreement. Additionally, Newport Trust shall comply with the
provisions of, and obligations imposed on it under, applicable federal and state privacy laws and regulations. 

  

	5.	 As compensation for the services to be performed by Newport Trust in connection with this Agreement, the
Company will pay Newport Trust the sum of $1,750,000 in two equal installments. The first installment of $875,000 shall be due within ten (10) days of the date this Agreement is executed. The final installment of $875,000 shall be due on the
earlier of: (i) the closing of the Proposed Transaction, or (ii) the date of the cancellation of the Proposed Transaction, but in any event not later than December 31, 2019; provided, however, that if the Company, on the advice of its
underwriters and advisors, decides not to proceed with the Proposed Transaction due to market conditions either before or after Newport Trust has issued a decision with respect to the Proposed Transaction, then the total fee due to Newport Trust
shall be reduced by twenty-five (25%) percent and such amount shall be deducted from the second installment by the Company. The Company agrees to reimburse Newport Trust promptly on a monthly basis, within thirty (30) days of billing, for all
reasonable out-of-pocket expenses that Newport Trust incurs in connection with the services performed pursuant to this Agreement, including reasonable expenses for
travel, lodging and other incidentals, in addition to any expenses incurred under Sections 6 or 7 of the Service Agreement. No portion of the fee to Newport Trust under this Section or reimbursement of its expenses is contingent in any way upon the
consummation of the Proposed Transaction or the decision by Newport Trust whether to approve the Proposed Transaction. Although the fees and expenses incurred by Newport Trust pursuant to this Agreement will be paid by the Company, it is understood
that Newport Trust’s sole professional responsibilities are to the ESOP and its participants and beneficiaries. Newport Trust will not receive any “indirect compensation” (as defined in 29 C.F.R. §
2550.408B-2(C)(1)(VI)) and agrees to provide any information requested by the Company to comply with its reporting and disclosure requirements in accordance with
Section 408 of ERISA. 

  

	6.	 In addition, Newport Trust will engage Jones Day as its legal counsel to advise it in connection with
the services to be performed pursuant to this Agreement. The Company agrees to reimburse Newport Trust promptly on a monthly basis, within thirty (30) days of billing, for reasonable fees and expenses it incurs in connection with the engagement
of such counsel with respect to matters relating to the Proposed Transaction. It is understood by the Company that legal counsel engaged by Newport Trust will report to, represent and consult solely with Newport Trust and that the attorney-client
privilege will be solely between such legal counsel and Newport Trust on behalf of the ESOP. 

  

	7.	 Newport Trust will engage Evercore Group L.L.C. as outside Financial Advisor to advise it with respect
to the services to be performed pursuant to this Agreement. The Company will pay the reasonable fees and expenses of such financial advisor within thirty (30) days of Newport Trust’s presenting the Company with bills for such services. It
is understood by the parties that any Financial Advisor engaged by Newport Trust will report to, represent and consult solely with Newport Trust. 

  

	8.	 The Company and its successors, to the extent permitted by applicable law, will indemnify Newport Trust
and hold it and each of its officers, directors, principals, shareholders, employees, agents, and attorneys (each, individually an “Indemnified Party” and collectively, the “Indemnified Parties”), harmless against any and all
losses, claims, damages or liabilities, including reasonable legal fees and expenses (collectively, “Losses”), including but not limited to Losses arising in connection with a lawsuit, arbitration, mediation, regulatory

			
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investigation or audit, to which any Indemnified Party may become subject arising in any manner out of or in connection with the performance of the duties of Newport Trust under this Agreement or
in any other fiduciary capacity with respect to the Trust taken in good faith and in accordance with this Agreement, except that such Indemnified Party will not be so indemnified if such Losses are finally adjudged by a court of competent
jurisdiction, or are determined by any other proceeding mutually agreed to by Company and the Indemnified Parties, to have resulted from the negligence or willful misconduct of such Indemnified Party. For purposes of this Agreement, any act or
omission of an Indemnified Party will be negligent only if such act or omission represents a departure from standards of ordinary care. Except as provided below, ,the Company will, upon notice, advance or pay promptly to or on behalf of any
Indemnified Party, all reasonable attorneys’ fees and other expenses and disbursements as they are incurred; provided, however, that Newport Trust will promptly reimburse to the Company all amounts paid to an Indemnified Party pursuant to this
paragraph 7 in the event that the Indemnified Party is finally adjudged to have acted with negligence or willful misconduct with respect to the services performed pursuant to this Agreement. 

If any Indemnified Party receives notice of the assertion of any claim or of the commencement of any action or proceeding involving the
Indemnified Party, in any capacity, that arises in any manner out of or in connection with the performance of the duties of Newport Trust under this Agreement (a “Claim”), the Indemnified Party will give the Company reasonably prompt
written notice thereof, although failure to do so will not relieve the Company from any liability hereunder or otherwise unless such failure materially prejudices the Company’s rights. The Company will be entitled to participate at its own
expense in the defense of any Claim, including the employment of counsel reasonably satisfactory to an Indemnified Party in the exercise of the Indemnified Party’s reasonable judgment (in which case the Company will not thereafter be
responsible for the fees, costs and expenses of any separate counsel retained by an Indemnified Party). Notwithstanding the foregoing, in the event that separate representation by counsel is reasonably required to protect the interests of an
Indemnified Party, such Indemnified Party will have the right to employ separate counsel, at the Company’s expense, to represent the Indemnified Party in connection with any Claim, and the Indemnified Party and such counsel will have the
exclusive right to control such representation, provided that the Company, Newport Trust and any other Indemnified Party will cooperate in good faith in the Indemnified Party’s defense of any Claim. Without the prior written consent of the
Company, the Indemnified Party will not enter into any settlement relating to any Claim which would create any financial or other obligation on the part of the Company under this Agreement. Without the prior written consent of the Indemnified Party,
the Company will not enter into any settlement relating to any Claim which would lead to liability or create any financial or other obligation on the part of the Indemnified Party. 

If during the period of, or subsequent to the termination of, this Agreement, any Indemnified Party is required to participate in any legal or
other proceeding (other than as a named party to such proceeding) in connection with the matters contemplated by this Agreement, the Company will compensate the Indemnified Party for such services or time required at a mutually agreed upon rate,
plus any reasonable legal fees and out-of-pocket expenses incurred in the same manner as specified hereinabove. It is understood by the parties that the foregoing
indemnification agreement is in addition to any indemnification provided by the Company under the Trust and will survive the termination of this Agreement and the termination, for any reason, of the services of Newport Trust as a fiduciary with
respect to the Trust. 
  

	9.	 The Company will take all action necessary to cause the Trust, to the extent permitted by ERISA or other
applicable law, to pay the fees and expenses of Newport Trust (including without limitation the fees and expenses of Newport Trust’s advisors) incurred pursuant this Agreement and to satisfy the Company’s indemnification obligation under
Section 8 on the same terms and conditions applicable to the Company in the event the Company is financially unable, or is not permitted by applicable bankruptcy or insolvency laws, to satisfy its obligations under this Agreement with respect
to such fees and expenses and with respect to its indemnification obligation. Newport Trust agrees to provide the Company, upon request, as a condition precedent to the Company’s taking the actions contemplated by this Section 9, with
evidence reasonably satisfactory to the Company of Newport Trust’s ability to reimburse the Trust for any attorney’s fees and other expenses and disbursements paid by the Trust to an Indemnified Party pursuant to this Section 9.

			
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	10.	 Newport Trust represents that it has in place and will maintain a commercially reasonable disaster
recovery plan during the term of this Agreement. 

  

	11.	 The engagement of Newport Trust pursuant to this Agreement may be terminated at any time by Newport
Trust by thirty (30) days’ written notice, or such shorter period of time as may be agreed upon by the parties. In the event that the Agreement is terminated by the Company (other than for Newport Trust’s breach of fiduciary duty,
breach of this agreement, negligence, or intentional misconduct), Newport Trust’s compensation will be the pro rata share of the total fees under the terms of Section 5 calculated through the termination date. In the event of termination
of this Agreement for any reason, Newport Trust will be entitled to receive, within thirty (30) days of billing, reimbursement for all reasonable out-of-pocket
expenses, including but not limited to the reasonable fees and expenses of a financial advisor and legal counsel (subject to the limitations set forth in Section 5), incurred by Newport Trust through the effective date of termination not
previously reimbursed and any expenses incurred by Newport Trust thereafter in successfully enforcing the terms of this Agreement, and the Company shall pay any expenses incurred pursuant to Sections 5, 6 and 7 up to the effective date of
termination. 

  

	12.	 Any right to trial by jury with respect to any legal or other proceeding arising out of or relating to
this Agreement or the services to be provided by Newport Trust hereunder is expressly and irrevocably waived. 

  

	13.	 The individuals executing this Agreement for the parties hereto represent and warrant that they are
authorized to enter into this Agreement on behalf of such parties. 

  

	14.	 The provisions of this Agreement will inure to, and be binding upon, the successors and assigns of the
Company and Newport Trust, except that Newport Trust will not assign its obligations to perform services hereunder to any other party without the prior written consent of the Company. The provisions of this Agreement represent the entire
understanding of the parties with respect to the duties and responsibilities of Newport Trust concerning its engagement by the Company, and except as otherwise expressly provided herein or otherwise provided by applicable law, this Agreement
supersedes all prior oral or written agreements or understandings between the parties concerning the subject matter of this Agreement. 

  

	15.	 This Agreement may be amended only by a written instrument executed by all parties hereto.

  

	16.	 The obligations of Newport Trust are solely corporate obligations, and no officer, director, employee,
agent, shareholder, or controlling person will be subject to any personal liability whatsoever in connection with this Agreement. 

  

	17.	 This Agreement may be executed in one or more counterparts, each of which will be deemed an original,
but all of which together will constitute one and the same agreement. 

  

	18.	 This Agreement will be effective upon execution and governed by and construed in accordance with ERISA
and, to the extent not preempted by ERISA, the laws of the State of New York without regard to conflict of laws principles. 

  

	19.	 The parties hereto agree that, in the event a court of competent jurisdiction holds that any part of
this Agreement is invalid or unenforceable, the remaining provisions of this Agreement shall remain in full force and effect as if the provisions held invalid or unenforceable were never a part hereof. 

*************************** 

			
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 If the foregoing terms correctly reflect the understanding and agreement between the parties, please execute
the three enclosed copies of this letter, and return two copies to the undersigned. 
  

			
	Very truly yours,
	
	Newport Trust Company
		
	By:	 	  

	Name:	 	William E. Ryan III
	Title:	 	President and Chief Fiduciary Officer

  

			
	AGREED TO AND ACCEPTED:
	
	PARSONS CORPORATION
		
	By:	 	  

	Name:	 	George L. Ball
	Title:	 	Chief Financial Officer
		
	Date:EX-10.26

 Exhibit 10.26 

REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT, dated as of [ • ], 2019, is entered into by and between Parsons Corporation, a Delaware
corporation (the “Company”), and Newport Trust Company, solely in its capacity as trustee of the Parsons Corporation Employee Stock Ownership Trust (the “ESOP Trust”), the trust formed under the Parsons Employee
Stock Ownership Plan (the “ESOP”). 
 RECITALS 

WHEREAS, in connection with the Initial Public Offering (defined below) of the Company’s shares of common stock, par value $1.00 per
share (the “Common Stock”), the Company has concurrently engaged in discussions with the Trustee (defined below) regarding certain registration rights related to the Common Stock held by the ESOP Trust; and 

WHEREAS, the Company has agreed to grant to the ESOP Trustee the registration rights set forth in Article II hereof. 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, and for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I 

DEFINITIONS 
 SECTION 1.1
Definitions. In addition to the definitions set forth above, the following terms, as used herein, have the following meanings: 

“Affiliate” of any Person means any other Person directly or indirectly controlling or controlled by or under common control
with such Person. For the purposes of this definition, “control” when used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such
Person, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Agreement” means this Registration Rights Agreement, as it may be amended, supplemented or restated from time to time. 

“Business Day” means any day except a Saturday, Sunday or other day on which commercial banks in The City of New York are
authorized by law to close. 
 “Commission” means the Securities and Exchange Commission. 

“Demand Registration” means a Demand Registration as defined in Section 2.1. 

“End of Suspension Notice” means an End of Suspension Notice as defined in Section 2.3. 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and
the rules and regulations promulgated thereunder. 
 “Fiduciary Determination” means the good faith determination by the
Trustee in its fiduciary capacity and following its fiduciary process for making such determinations (including after consultation with the Trustee’s outside counsel), that the ESOP Trustee’s fiduciary duties under the Employee Retirement
Income Security Act of 1974, as amended (“ERISA”), require the sale of all or a portion of the Registrable Securities, and has communicated such determination to the Company in writing, along with the basis therefor and the number
of Registrable Securities required to be sold. 
 “Indemnified Party” means an Indemnified Party as defined in
Section 2.7. 
 “Indemnifying Party” means an Indemnifying Party as defined in Section 2.7. 

“Initial Public Offering” means the offering of the Company’s Common Stock pursuant to the Form S-1 Registration Statement (No. 333-230833) filed by the Company with the Commission under the Securities Act. 

“Inspector” means an Inspector as defined in Section 2.3(g). 

“Person” means an individual or a corporation, partnership, limited liability company, association, trust, or any other
entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 

“Records” means Records as defined in Section 2.3(g). 

“Registrable Securities” means Common Stock at any time owned, either of record or beneficially, by the ESOP Trust until
(i) a registration statement covering such shares has been declared effective by the Commission and such shares have been disposed of pursuant to such effective registration statement, (ii) such shares may be resold without volume, manner
of sale or other restrictions pursuant to Rule 144 or (iii) such shares have been otherwise transferred in a transaction that constitutes a sale thereof under the Securities Act. 

“Registration Expenses” means Registration Expenses as defined in Section 2.4. 

“Rule 144” means Rule 144 promulgated under the Securities Act, as amended from time to time, or any similar successor rule
thereto that may be promulgated by the Commission. 
 “Securities Act” means the Securities Act of 1933, as amended, and
the rules and regulations promulgated thereunder. 
 “Suspension Event” means a Suspension Event as defined in
Section 2.2. 
 “Suspension Notice” means a Suspension Notice as defined in Section 2.2. 

  
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 “Trustee” or “ESOP Trustee” means the Person serving as
trustee under the ESOP Trust (including any successor trustee from time to time). As of the date hereof, Newport Trust Company is the Trustee. 

ARTICLE II 
 REGISTRATION RIGHTS

 SECTION 2.1 Demand Registration. 

(a) Request for Registration. Any time after 180 days following the effectiveness of the Form
S-1 Registration Statement related to the Initial Public Offering (No. 333-230833), upon a Fiduciary Determination, the Trustee may make a written request for the
Company to prepare and file a registration statement with respect to the resale of that portion of the Registrable Securities that is subject to the Fiduciary Determination on an appropriate form for the offering and subsequent resale thereof (a
“Demand Registration”), which may include a “shelf” registration statement with respect to the offering and subsequent resale of all of the Registrable Securities on a delayed or continuous basis pursuant to Rule 415 under
the Securities Act (a “Shelf Registration Statement”) naming the ESOP Trustee as a selling securityholder therein. The number of Demand Registrations which may be made pursuant to this Section 2.2(a) shall be unlimited;
provided that the Company shall not be obligated to effect more than two Demand Registrations in any twelve (12)-month period. Any request for a Demand Registration will specify the number of shares of Registrable Securities proposed to be
sold and will also specify the intended method of disposition thereof. 
 (b) Effective Registration. A registration will not count
as a Demand Registration until it has become effective. 
 (c) Termination. The rights of the ESOP Trustee to cause the Company to
register the Registrable Securities under this Section 2.1 shall terminate upon the date on which the ESOP Trust is no longer a record or beneficial owner of any Registrable Securities. 

SECTION 2.2 Black-Out Periods. 

(a) Notwithstanding the provisions of Sections 2.1(a), the Company shall be permitted to postpone the filing of any registration statement
filed in connection with a Demand Registration (including a Shelf Registration Statement), and from time to time to require the ESOP not to sell Registrable Securities under any such registration statement (including a Shelf Registration Statement)
or to suspend the effectiveness thereof, for such times as the Company reasonably may determine is necessary and advisable (but in no event shall the Company be entitled to exercise such right more than three times or for more than an aggregate of
ninety (90) days in any rolling twelve (12)-month period commencing on the consummation date of the Initial Public Offering), if any of the following events shall occur (each such circumstance a “Suspension Event”): (i) a
majority of the board of directors of the Company determines in good faith that (A) the offer or sale of any Registrable Securities would materially impede, delay or interfere with any proposed financing, offer or sale of securities,
acquisition, corporate reorganization or other material transaction involving the Company, (B) the sale of Registrable Securities pursuant to such registration statement would require disclosure of
non-public material 

  
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information not otherwise required to be disclosed under applicable law or (C)(x) the Company has a bona fide business purpose for preserving the confidentiality of a material transaction,
(y) disclosure would have a material adverse effect on the Company or the Company’s ability to consummate such a material transaction or (z) such a material transaction renders the Company unable to comply with Commission
requirements, in each case under circumstances that would make it impractical or inadvisable to cause such registration statement (or such filings) to become effective or to promptly amend or supplement such registration statement on a
post-effective basis, as applicable; or (ii) a majority of the board of directors of the Company determines in good faith that it is in the Company’s best interest or it is required by law, rule or regulation to supplement such
registration statement or file a post-effective amendment to such registration statement in order to ensure that the prospectus included in such registration statement (1) contains the information required by the form on which such registration
statement was filed or (2) discloses any facts or events arising after the effective date of such registration statement (or of the most recent post-effective amendment) that, individually or in the aggregate, represents a fundamental change in
the information set forth therein. 
 The Company will provide written notice (a “Suspension Notice”) to the ESOP Trustee
of the occurrence of any Suspension Event. Upon receipt of a Suspension Notice, the ESOP Trustee will (i) immediately discontinue offers and sales of the Registrable Securities under such registration statement and (ii) maintain the
confidentiality of any information included in the Suspension Notice unless otherwise required by law or subpoena. The ESOP Trustee may recommence effecting offers and sales of the Registrable Securities pursuant to such registration statement (or
such filings) following further written notice to such effect (an “End of Suspension Notice”) from the Company, which End of Suspension Notice shall be given by the Company to the ESOP Trustee promptly following the conclusion of
any Suspension Event and its effect; provided that the ESOP Trustee will only effect such offers and sales pursuant to any supplemental or amended prospectus that has been provided to them by the Company pursuant to Section 2.2(b). 

(b) Notwithstanding any provision herein to the contrary, if the Company shall give a Suspension Notice with respect to any registration
statement pursuant to Section 2.2(a), the Company agrees that it shall extend the period of time during which such registration statement shall be maintained effective (including the period referred to in Section 2.3(a) hereof) by the
number of days during the period from the date of receipt by the ESOP of the Suspension Notice to and including the date of receipt by the ESOP Trustee of the End of Suspension Notice and promptly provide copies of the supplemented or amended
prospectus necessary to resume offers and sales, with respect to each Suspension Event; provided, that such period of time shall not be extended beyond the date that the Common Stock covered by such registration statement are no longer
Registrable Securities. 
 SECTION 2.3 Registration Procedures; Filings; Information. Subject to Section 2.2 hereof, in
connection with any Demand Registration under Section 2.1 hereof, the Company will use its commercially reasonable efforts to effect the registration and the sale of such Registrable Securities in accordance with the intended method of
disposition thereof as promptly as practicable, and in connection with any such request: 

  
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 (a) The Company will as promptly as practicable prepare and file with the Commission a
registration statement on any form for which the Company then qualifies or which counsel for the Company shall deem appropriate and which form shall be available for the sale of the Registrable Securities to be registered thereunder in accordance
with the intended method of distribution thereof, and use its commercially reasonable efforts to cause such filed registration statement to become and remain effective for a period of not less than 270 days from the effective date of such
registration statement, or such shorter period if there are no longer any Registrable Securities, subject in each case to Section 2.2. 

(b) The Company will, if requested, prior to filing a registration statement or prospectus or any amendment or supplement thereto, furnish to
the ESOP Trustee copies of such registration statement as proposed to be filed, and thereafter furnish to the ESOP Trustee such number of conformed copies of such registration statement, each amendment and supplement thereto (and upon request, all
exhibits thereto and documents incorporated by reference therein), the prospectus included in such registration statement (including each preliminary prospectus) and such other documents as the ESOP Trustee may reasonably request in order to
facilitate the disposition of the Registrable Securities owned by the ESOP Trust. 
 (c) After the filing of the registration statement, the
Company will promptly notify the ESOP Trustee of any stop order issued or threatened by the Commission and take all reasonable actions required to prevent the entry of such stop order or to remove it if entered. 

(d) The Company will use its commercially reasonable efforts to (i) register or qualify the Registrable Securities under such other
securities or blue sky laws of such jurisdictions in the United States (where an exemption does not apply) as the ESOP Trustee reasonably (in light of the ESOP Trust’s intended plan of distribution) requests and (ii) cause such Registrable
Securities to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company and do any and all other acts and things that may be reasonably necessary or
advisable to enable the ESOP Trustee to consummate the disposition of the Registrable Securities owned by the ESOP Trust; provided that the Company will not be required to (A) qualify generally to do business in any jurisdiction where it
would not otherwise be required to qualify but for this paragraph (d), (B) subject itself to taxation in any such jurisdiction or (C) consent to general service of process in any such jurisdiction. 

(e) The Company will immediately notify the ESOP Trustee at any time when a prospectus relating to the Registrable Securities held by the ESOP
Trust is required to be delivered under the Securities Act, of (i) the Company’s receipt of any notification of the suspension of the qualification of any Registrable Securities covered by a Shelf Registration Statement for sale in any
jurisdiction or (ii) the occurrence of an event requiring the preparation of a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not contain an
untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading and promptly make available to
the ESOP Trustee any such supplement or amendment. 

  
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 (f) The Company will take such actions as are reasonably required in order to expedite or
facilitate the disposition of the Registrable Securities. 
 (g) The Company will make available for inspection by the ESOP Trustee, if the
ESOP Trustee has a due diligence defense under the Securities Act, and any attorney, accountant or other professional retained by the ESOP (collectively, the “Inspectors”), all financial and other records, pertinent corporate
documents and properties of the Company (collectively, the “Records”) as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to
supply all information reasonably requested by any Inspector in connection with such registration statement, subject to entry by each such Inspector into a customary confidentiality agreement in a form reasonably acceptable to the Company. 

(h) The Company will furnish to the ESOP Trustee, if the ESOP Trustee has a due diligence defense under the Securities Act, a signed
counterpart, addressed to the ESOP Trustee, of (i) an opinion or opinions of counsel to the Company and (ii) if eligible under Public Company Accounting Oversight Board Auditing Standards 6101, a comfort letter or comfort letters from the
Company’s independent public accountants, each in customary form and covering such matters of the type customarily covered by opinions or comfort letters, as the case may be, as the ESOP reasonably requests. 

(i) The Company will otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the Commission,
and make available to its securityholders, as soon as reasonably practicable, an earnings statement covering a period of 12 months, beginning within three months after the effective date of the registration statement, which earnings statement
shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 of the Commission promulgated thereunder (or any successor rule or regulation hereafter adopted by the Commission). 

(j) The Company will use its commercially reasonable efforts to cause all the Registrable Securities to be listed on each securities exchange
on which similar securities issued by the Company are then listed. 
 The Company may require the ESOP Trustee to promptly furnish in
writing to the Company such information regarding the ESOP Trust, the Registrable Securities held by it and the intended method of distribution of the Registrable Securities as the Company may from time to time reasonably request and such other
information as may be legally required in connection with such registration. 
 Upon receipt of any notice from the Company of the happening
of any event of the kind described in Section 2.3(e) hereof, the ESOP Trustee will forthwith discontinue disposition of Registrable Securities pursuant to the registration statement covering such Registrable Securities until the ESOP
Trustee’s receipt of written notice from the Company that such disposition may be made and, in the case of clause (ii) of Section 2.3(e) hereof, copies of the supplemented or amended prospectus contemplated by clause (ii) of
Section 2.3(e) hereof, and, if so directed by the Company, the ESOP Trustee will deliver to the Company all copies, other than permanent file copies then in the ESOP Trustee’s possession, of the most recent prospectus covering such

  
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Registrable Securities at the time of receipt of such notice. The ESOP Trustee will immediately notify the Company at any time when a prospectus relating to the registration of such Registrable
Securities is required to be delivered under the Securities Act of the happening of an event as a result of which information previously furnished by the ESOP Trustee to the Company in writing for inclusion in such prospectus contains an untrue
statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made. In the event the Company shall give such
notice, the Company shall extend the period during which such registration statement shall be maintained effective (including the period referred to in Section 2.3(a) hereof) by the number of days during the period from and including the date
of the giving of notice pursuant to Section 2.3(e) hereof to the date when the Company shall provide written notice that such dispositions may be made and, in the case of clause (ii) of Section 2.3(e) hereof, make available to the
ESOP Trustee a prospectus supplemented or amended to conform with the requirements of Section 2.3(e) hereof. 
 SECTION 2.4
Registration Expenses. In connection with any registration statement filed in connection with a Demand Registration (including a Shelf Registration Statement), the Company shall pay the following registration expenses incurred in connection
with such registration (the “Registration Expenses”), regardless of whether such registration statement is declared effective by the Commission: (a) all registration and filing fees, (b) fees and expenses of compliance
with securities or blue sky laws (including reasonable fees and disbursements of counsel in connection with blue sky qualifications of the Registrable Securities), (c) printing expenses, (d) internal expenses (including, without
limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), (e) the fees and expenses incurred in connection with the listing of the Registrable Securities, (f) reasonable fees and
disbursements of counsel for the Company and customary fees and expenses for independent certified public accountants retained by the Company (including the expenses of any comfort letters or costs associated with the delivery by independent
certified public accountants of a comfort letter or comfort letters requested pursuant to Section 2.3(h) hereof) and (g) the reasonable fees and expenses of any special experts retained by the Company in connection with such registration.
Notwithstanding the foregoing, the Company shall have no obligation to pay any sales or underwriting fees, discounts or commissions attributable to the sale of Registrable Securities or any transfer taxes relating to the sale of the Registrable
Securities. 
 SECTION 2.5 Indemnification by the Company. The Company agrees to indemnify the ESOP Trust and ESOP Trustee, its
officers, directors and agents, and each Person, if any, who controls the ESOP Trust and/or ESOP Trustee within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act from and against any and all losses, claims,
damages and liabilities that arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in any registration statement or prospectus relating to such Registrable Securities, or any amendment or
supplement thereto, or any preliminary prospectus, or that arise out of or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading, except insofar as such losses, claims, damages or liabilities that arise out of or are based upon any such untrue statement or omission or alleged untrue statement or omission included in
reliance upon and in conformity with information furnished in writing to the Company by the ESOP Trustee or on the ESOP Trust’s behalf expressly for inclusion therein. 

  
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 SECTION 2.6 Indemnification by the ESOP Trust. The ESOP Trust shall indemnify
the Company, its officers, directors and agents and each Person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity
from the Company to the ESOP Trust and ESOP Trustee pursuant to Section 2.5, but only with respect to information relating to the ESOP included in reliance upon and in conformity with information furnished in writing by the ESOP Trustee or on
the ESOP Trust’s behalf expressly for use in any registration statement or prospectus relating to the Registrable Securities, or any amendment or supplement thereto, or any preliminary prospectus. In case any action or proceeding shall be
brought against the Company or its officers, directors or agents or any such controlling person, in respect of which indemnity may be sought against the ESOP Trust or the ESOP Trustee, the ESOP Trust and the Trustee shall have the rights and duties
given to the Company, and the Company or its officers, directors or agents or such controlling person shall have the rights and duties given to ESOP Trust and the ESOP Trustee, by Section 2.5. Notwithstanding the foregoing, in no event will the
liability of the ESOP Trust under this Section 2.6 or Section 2.8 or otherwise hereunder exceed the net proceeds actually received by the ESOP Trust nor will the ESOP Trust provide indemnity or contribution under this Section 2.6 or
Section 2.8 if prohibited by applicable law. 
 SECTION 2.7 Conduct of Indemnification Proceedings. In case any proceeding
(including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 2.5 or 2.6, such person (an “Indemnified Party”) shall promptly notify the
person against whom such indemnity may be sought (an “Indemnifying Party”) in writing and the Indemnifying Party shall assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified
Party, and shall assume the payment of all fees and expenses; provided that the failure of any Indemnified Party to give such notice will not relieve such Indemnifying Party of its obligations under Section 2.5 or 2.6, as applicable,
except to the extent such Indemnifying Party is materially prejudiced by such failure. In any such proceeding, any Indemnified Party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of
such Indemnified Party unless (a) the Indemnifying Party and the Indemnified Party shall have mutually agreed to the retention of such counsel or (b) the named parties to any such proceeding (including any impleaded parties) include both
the Indemnified Party and the Indemnifying Party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the Indemnifying Party shall not, in
connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate firm of attorneys (in addition to any local counsel) at any time for all such Indemnified
Parties, and that all such fees and expenses shall be reimbursed as they are incurred. In the case of any such separate firm for the Indemnified Parties, such firm shall be designated in writing by (i) in the case of Persons indemnified
pursuant to Section 2.5 hereof, the ESOP Trustee and (ii) in the case of Persons indemnified pursuant to Section 2.6, the Company. The Indemnifying Party shall not be liable for any settlement of any proceeding effected without its
written consent, which consent shall not be unreasonably withheld, but if settled with such consent, or if there be a final judgment for the plaintiff, the Indemnifying Party shall indemnify and hold harmless such Indemnified Parties

  
 8 

 
from and against any loss or liability (to the extent stated above) by reason of such settlement or judgment. No Indemnifying Party shall, without the prior written consent of the Indemnified
Party (which consent shall not be unreasonably withheld, conditioned or delayed), effect any settlement of any pending or threatened proceeding in respect of with any Indemnified Party is or could have been a party and indemnity could have been
sought hereunder by such Indemnified Party, unless such settlement includes an unconditional release of such Indemnified Party from all liability arising out of such proceeding without any admission of liability by such Indemnified Party. 

SECTION 2.8 Contribution. If the indemnification provided for in Section 2.5 or 2.6 hereof is held by a court of competent
jurisdiction to be unavailable to an Indemnified Party or insufficient in respect of any losses, claims, damages or liabilities referred to herein, then each such Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute
to the amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities in such proportion as is appropriate to reflect the relative fault of the Company, on the one hand, and of the ESOP Trust, on the
other hand, in connection with such statements or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company, on the one hand, and of the ESOP
Trust, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by such
party in writing, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

The Company and the ESOP Trustee agree that it would not be just and equitable if contribution pursuant to this Section 2.8 were
determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. The amount paid or payable by an Indemnified Party as a result of
the losses, claims, damages or liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such Indemnified Party in
connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 2.8, the ESOP Trust shall not be required to contribute any amount in excess of the amount by which the total price at which the
securities of the ESOP Trust were offered to the public exceeds the amount of any damages which the ESOP Trust or Trustee has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission, nor
shall the ESOP Trust provide contribution in violation of applicable law . No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was
not guilty of such fraudulent misrepresentation. For the avoidance of doubt, this Section 2.8 applies in the case of a “shelf” registration. 

ARTICLE III 
 MISCELLANEOUS 

SECTION 3.1 Remedies. In addition to being entitled to exercise all rights provided herein and granted by law, including recovery
of damages, the ESOP Trustee shall be entitled to specific performance of the rights under this Agreement. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the
provisions of this Agreement and hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate. 

  
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 SECTION 3.2 Amendments and Waivers. The provisions of this Agreement, including
the provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, in each case without the written consent of the parties hereto. No failure or delay by
any party to insist upon the strict performance of any covenant, duty, agreement or condition of this Agreement or to exercise any right or remedy consequent upon any breach thereof shall constitute waiver of any such breach or any other covenant,
duty, agreement or condition. 
 SECTION 3.3 Notices. All notices and other communications in connection with this Agreement
shall be made in writing by hand delivery, registered first-class mail or air courier guaranteeing overnight delivery: 
 (a) if to the ESOP
Trustee, 570 Lexington Avenue, Suite 1903, New York, New York 10022, Attention: President or to such other address as the ESOP Trustee may hereafter specify in writing; and 

(b) if to the Company, 5875 Trinity Parkway #300, Centreville, Virginia 20120, Attention: Chief Legal Officer, or to such other address as the
Company may hereafter specify in writing. 
 All such notices and communications shall be deemed to have been duly given: at the time
delivered by hand, if personally delivered; when received if deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged, if timely delivered to an air courier guaranteeing overnight delivery. 

SECTION 3.4 Successors and Assigns. Except as expressly provided in this Agreement, the rights and obligations of the ESOP Trustee
under this Agreement shall not be assignable without the prior written consent of the Company. This Agreement shall be binding upon the parties hereto and their respective successors and permitted assigns. 

SECTION 3.5 Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Each party shall become bound by this Agreement immediately upon affixing its signature
hereto. 
 SECTION 3.6 Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of
the State of Delaware without regard to the choice of law provisions thereof. 
 SECTION 3.7 Severability. In the event that any
one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining
provisions contained herein shall not be affected or impaired thereby. 

  
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 SECTION 3.8 Entire Agreement. This Agreement is intended by the parties as a
final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or
undertakings, other than those set forth or referred to herein with respect to the registration rights granted by the Company with respect to the Registrable Securities. This Agreement supersedes all prior agreements and understandings between the
parties with respect to such subject matter. 
 SECTION 3.9 Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof. 
 SECTION 3.10 No Third Party Beneficiaries. Nothing
express or implied herein is intended or shall be construed to confer upon any person or entity, other than the parties hereto and their respective successors and assigns and all Indemnified Parties, any rights, remedies or other benefits under or
by reason of this Agreement. 
 [remainder of page intentionally left blank; signature page follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above. 
  

			
	COMPANY
	
	PARSONS CORPORATION, a Delaware corporation

 
			
		
	By: 	 	 

 
			
	Name:	 	
	Title:	 	

 
					
	PARSONS CORPORATION EMPLOYEE STOCK OWNERSHIP TRUST
	
	By: Newport Trust Company, solely in capacity as Trustee of the Parsons Corporation Employee Stock Ownership Trust

 
					
			
	    	 	By: 	 	 

 
					
	    	 	Name:	 	
		 	Title:

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