Document:

FOSTER WHEELER INC.

                             STOCK OPTION AGREEMENT

         THIS AGREEMENT (the "Agreement"),  dated as of the 22nd day of October,
2001, between Foster Wheeler Inc. located at Perryville Corporate Park, Clinton,
New Jersey (the "Company") and Raymond J. Milchovich ("Optionee").

         WHEREAS,  the  Company  wishes to grant an option to the  Optionee as a
material  inducement  to enter into an employment  contract with Foster  Wheeler
Ltd.  (the  "Parent")  and to encourage  Optionee to remain in the employ of the
Company or a direct or indirect subsidiary or affiliate of Parent, and

         WHEREAS,  the Optionee is  simultaneously  entering  into an employment
contract with Parent (the "Contract").

         NOW, THEREFORE, it is agreed as follows:

         1. OPTION.  The Company  hereby grants to Optionee  this  non-qualified
stock option ("Option") to purchase  1,300,000 common shares of Parent at $4.985
per  share,  which is the mean of the high  and low sale  prices  of the  Common
Shares  of Parent on the New York  Stock  Exchange  on the date of grant of this
Option.

         2. EXERCISE OF OPTION. This Option shall become  exercisable,  or shall
("vest"),  with respect to  one-fifth  of the shares  subject to this Option one
year after the date of this Agreement, this Option shall become exercisable with
respect to two-fifths  of the shares  subject to this Option two years after the
date of this  Agreement,  this Option shall become  exercisable  with respect to
three-fifths  of the shares subject to this Option three years after the date of
this Agreement, this Option shall become exercisable with respect to four-fifths
of the shares subject to this Option four years after the date of this Agreement
and this Option shall become  exercisable  with respect to the  remainder of the
shares subject to the Option five years after the date of this  Agreement.  This
Option expires ten (10) years from the date hereof.

         This Option may be exercised,  to the extent  exercisable in accordance
with this Agreement,  in whole or part by written notice to the Company,  except
that this Option shall not be exercisable  if, in the opinion of counsel for the
Company,  exercise of this Option or delivery of shares  pursuant  thereto would
directly  (i) result in a  violation  of any law or  regulation  of an agency of
government or (ii) have an adverse effect on the listing status or qualification
of Parent  shares on any  securities  exchange;  provided that the Company shall
take or cause to be taken all action necessary to satisfy any requirement of law
or such regulation, or to avoid any such adverse effect.

         3.  PAYMENT  OF  PURCHASE  PRICE.  Payment  for shares as to which this
Option is  exercised  shall be made at the time  written  notice of  exercise is
given. The option price shall be paid upon exercise (i) in U.S. dollars, or (ii)
in shares of common  shares  of  Parent  owned of record by the

<PAGE>

Optionee.  Such  common  shares  shall be valued at the mean of the high and low
sale  prices  of  such  shares  on the New  York  Stock  Exchange  on the day of
exercise.

         4. TERMINATION OF EMPLOYMENT. If the Optionee is terminated because the
Optionee  is  physically  or  mentally  disabled  and is unable to  perform  the
Optionee's principal services pursuant to the Contract, or is terminated Without
Cause (as defined in the  Contract) by Parent,  the Company,  or a subsidiary or
affiliate of Parent, or the Optionee  terminates  employment for Good Reason (as
defined in the  Contract),  this  Option  shall vest with  respect to all of the
shares subject to this Option, and shall remain  exercisable  through the second
anniversary of such termination.

         If the  Optionee  dies  while  employed  by  Parent,  the  Company or a
subsidiary or affiliate of Parent, this Option shall vest with respect to all of
the shares subject to this Option,  and shall remain exercisable by a legatee or
legatees of the  Optionee  under the last will,  or by the  Optionee's  personal
representatives   or  distributees,   through  the  second  anniversary  of  the
Optionee's death.

         If the Optionee retires under a pension plan of Parent,  the Company or
a subsidiary or affiliate of Parent,  this Option shall vest with respect to all
of the shares  subject to this Option,  and shall remain  exercisable  until the
earlier  of one year  from the date of  grant,  and the  expiration  date of the
Option.

         In the event that the Optionee's employment is terminated for Cause (as
defined in the Contract) by the Parent, the Company or a subsidiary or affiliate
of Parent or the Optionee  terminates his employment  other than for Good Reason
(as defined in the  Contract),  this Option,  to the extent  unvested,  shall be
immediately   forfeited  and  the  remainder  of  this  Option,  to  the  extent
unexercised on the date which is ninety (90) days after such termination,  shall
be forfeited. This Option expires ten (10) years from the date hereof.

         5. RECAPITALIZATION. In the event of changes in Parent common shares by
reason   of   share    dividends,    split-ups   or   combination   of   shares,
reclassifications,  recapitalizations, mergers, consolidations,  reorganizations
or liquidations, appropriate adjustments shall be made by the Board of Directors
of the  Company  (the  "Board")  in (a) the  number and class of shares to which
Optionee will thenceforth be entitled upon exercise of this Option,  and (b) the
price which the  Optionee  shall be required to pay upon  exercise.  Whether any
adjustment or  modification  is required as a result of the occurrence of any of
the events heretofore specified, and the amount thereof, shall be determined, in
good  faith,  by the Board,  which  determination  shall be final,  binding  and
conclusive.

         6. CONTINUED  EMPLOYMENT.  So long as the Optionee shall continue to be
an employee of Parent,  the Company or a subsidiary or affiliate of Parent,  the
Option  shall not be affected by (i) any change of duties or  position,  or (ii)
any temporary leave of absence approved by each employing corporation and by the
Board.  Nothing in this  Agreement  shall  confer upon the Optionee any right to
continue in the employ of Parent,  the Company or a  subsidiary  or affiliate of
Parent or  interfere  in any way with the right of Parent,  the  Company or each
such subsidiary or affiliate to terminate the Optionee's employment at any time,
with or without cause.

<PAGE>

         7. TRANSFERABILITY.  This Option is not transferable by Optionee except
by will or by the laws of descent and  distribution  and is  exercisable  during
Optionee's lifetime only by him or a court appointed guardian.  No assignment or
transfer by  Optionee  of this  Option,  or of the rights  represented  thereby,
whether  voluntary or involuntary,  by operation of law or otherwise,  except by
will or by the laws of descent and  distribution,  shall vest in the assignee or
transferee any interest or right herein  whatsoever.  Upon any attempt to assign
or transfer this Option, the Option shall forthwith terminate.

         Notwithstanding the foregoing, Optionee may transfer this Option to any
one or more of the following:  Optionee's  descendant,  spouse,  descendant of a
spouse,  spouse of any of the foregoing,  a trust established  primarily for the
benefit of any of the  foregoing,  or of  Optionee,  or to an entity  which is a
corporation,  partnership,  or limited  liability  company (or any other similar
entity) the owners of which are primarily the aforementioned  persons or trusts.
If the  Option  is so  transferred  to the  aforementioned  persons,  trusts  or
entities  in  respect  of  Optionee,  the  transferee  shall be  subject  to the
provisions of Paragraph 4 concerning  the  exercisability  following  Optionee's
termination of employment.

         8.  RIGHTS AS A  SHAREHOLDER.  Optionee  shall  not be  deemed  for any
purpose to be a  shareholder  of Parent  except to the extent  that this  Option
shall have been exercised.

         9.  CORPORATE  ACTION BY PARENT.  Existence  of this  Option  shall not
impair  the  right  of  Parent  or  its   shareholders   to  make   adjustments,
recapitalizations,  reorganizations or other changes in its capital structure or
business,  to consummate any merger or consolidation of Parent,  to issue bonds,
debentures,  preferred or prior  preference  stocks  ahead of or  affecting  the
common shares or the rights thereof, to dissolve or liquidate Parent, to sell or
transfer all or any part of its assets or  business,  or to do or take any other
corporate  act or  proceeding it or they might have done or taken if this Option
was not in existence.

         10. CHANGE OF CONTROL.  If during the Term, as defined in the Contract,
Parent,  the Company or a  subsidiary  or  affiliate  of Parent  terminates  the
Optionee's employment Without Cause (as defined in the Contract) or the Optionee
terminates his employment with Good Reason (as defined in the Contract), in each
case  following  a Change of Control  (as  defined in the  Contract),  or if the
Optionee  terminates  his  employment  for any reason during the thirty (30) day
period  commencing on the date which is twelve months  following  such Change of
Control,  this Option  shall vest with  respect to all of the shares  subject to
this Option, and shall remain exercisable through the second anniversary of such
termination.

         Notwithstanding  any other provision of this Agreement to the contrary,
in the event of a Change of Control, as defined in the Contract, this Option, to
the extent not  exercisable  and vested as of the date such Change of Control is
determined to have occurred, shall become fully exercisable and vested.

         11.  DISPUTES.  Issues  arising out of this Option shall be resolved in
accordance with the Dispute Resolution Procedure set forth in the Contract.

<PAGE>

         12. TERMS AND  CONDITIONS.  This  Agreement is subject to all terms and
conditions of the Contract.

         13. GOVERNING LAW. This Agreement and the rights and obligations of the
parties  hereto shall be governed by the laws of the State of New Jersey without
regard to the principles of conflicts of law which might otherwise apply.

         14.  NOTICE.  Any notice  which  either party hereto may be required or
permitted  to  give to the  other  shall  be in  writing,  and may be  delivered
personally  or by mail to the Company at the office of the  Secretary  of Foster
Wheeler Inc., Perryville Corporate Park, Clinton, New Jersey 08809-4000,  and to
the Optionee at such address as he has designated.

         IN WITNESS  WHEREOF,  the  Company  has  caused  this  Agreement  to be
executed by its duly authorized Officers and Optionee has hereunto set his hand,
as of the day and year first above written.

                                        FOSTER WHEELER INC.

                                        BY:/s/ Gilles A. Renaud
                                          ---------------------------------
                                                 Gilles A. Renaud
                                                 Senior Vice President and CFO

                                        BY: /s/ James E. Schessler
                                          ---------------------------------
                                                 James E. Schessler
                                                 Senior Vice President - Human
                                                 Resources and Administration

                                             /s/ Raymond J. Milchovich
                                          ---------------------------------
                                                 Raymond J. Milchovich
ATTEST:

/s/Lisa Fries Gardner
---------------------------
       SecretaryEXHIBIT 10.14

                                                                  CONFORMED COPY

                           AMENDMENT NO. 1 AND WAIVER

         AMENDMENT No. 1 and WAIVER ("THIS AMENDMENT") dated as of January 28,
2002 relating to the Second Amended and Restated Revolving Credit Agreement
dated as of May 25, 2001 (as the same has heretofore been or may hereafter be
amended from time to time, the "CREDIT AGREEMENT") among FOSTER WHEELER LLC,
FOSTER WHEELER USA CORPORATION, FOSTER WHEELER ENERGY INTERNATIONAL, FOSTER
WHEELER ENERGY CORPORATION, the Guarantors signatory thereto, the Lenders
signatory thereto, Bank of America, N.A., as Administrative Agent, FIRST UNION
NATIONAL BANK, as Syndication Agent, and ABN AMRO BANK N.V., as Documentation
Agent, arranged by BANC OF AMERICA SECURITIES LLC, as Lead Arranger and Book
Manager, and ABN AMRO BANK N.V., FIRST UNION CAPITAL MARKETS, GREENWICH NATWEST
STRUCTURED FINANCE INC. and TORONTO DOMINION BANK, as Arrangers.

         The parties hereto agree as follows:

         SECTION 1. DEFINED TERMS; REFERENCES. (a) Unless otherwise specifically
defined herein, each term used herein which is defined in the Credit Agreement
has the meaning assigned to such term in the Credit Agreement. Each reference to
"hereof", "hereunder", "herein" and "hereby" and each other similar reference
and each reference to "this Agreement" and each other similar reference
contained in the Credit Agreement shall, after this Amendment becomes effective,
refer to the Credit Agreement as amended hereby.

         (b) The following additional terms have the following meanings:

                   "SPECIAL CHARGE" means, collectively, the special charges
         listed on Schedule A hereto and communicated in writing to the Lenders
         on January 18, 2002.

                   "WAIVER PERIOD" means the period commencing on December 28,
         2001 and ending on the earliest of (i) 12:00 Noon (New York City time)
         on April 15, 2002, (ii) the date on which any of the conditions
         specified in Section 2(d) ceases to be met and (iii) the date on which
         the Waiver Period is terminated pursuant to Section 2(e).

<PAGE>

         SECTION 2. LIMITED WAIVER. (a) During the Waiver Period, the Required
Lenders hereby waive compliance by the Company with Sections 6.01(a), 6.01(b)
and 6.04 of the Credit Agreement, and any Event of Default or Potential Default
arising from its failure to comply with such Sections, but solely to the extent
such failure to comply is due to the Special Charge.

         (b) During the Waiver Period, the Required Lenders hereby waive
compliance by the Company with Sections 5.01(a) and 5.01(c) of the Credit
Agreement and any Event of Default or Potential Default arising from its failure
to comply with such Sections.

         (c) During the Waiver Period, the Required Lenders hereby waive as a
condition to issuance of a Performance Letter of Credit under the Credit
Agreement the requirement in Section 4.02(b) of the Credit Agreement that the
representation and warranty in Section 3.08 of the Credit Agreement be true and
correct, but solely to the extent the inaccuracy thereof is by reason of matters
disclosed to the Lenders in writing prior to the Amendment Effective Date (as
defined below).

         (d) The waivers granted pursuant to subsections (a), (b) and (c) above
are subject to the conditions that, and the Company hereby agrees that, on and
after the Amendment Effective Date and for so longer thereafter as such waivers
remain in effect:

                   (i) neither the Company nor any of its Subsidiaries shall
         incur any Indebtedness which is, or procure the issuance of any letter
         of credit the reimbursement obligation in respect of which would be,
         Guaranteed by or otherwise considered Indebtedness of any Credit Party
         or any of their respective domestic Subsidiaries (collectively, the
         "RESTRICTED ENTITIES"), other than Performance Letters of Credit issued
         pursuant to the Credit Agreement; PROVIDED, however, that Parent may
         guarantee performance bonds or performance letters of credit of any
         Subsidiary other than a Restricted Entity;

                   (ii) none of the Borrowers shall borrow any Loan or request
         the issuance of any Letter of Credit pursuant to the Credit Agreement
         other than Performance Letters of Credit;

                   (iii) simultaneously with or prior to the issuance of any
         Performance Letter of Credit under the Credit Agreement, the Company
         shall Cash Collateralize the full amount of such Performance Letter of
         Credit in accordance with the Credit Agreement;

                                       2
<PAGE>

                   (iv) no Restricted Entity shall incur any Lien securing
         Indebtedness, any letter of credit or any amounts payable in respect of
         the Perryville Lease Agreement (as defined below) or the Receivables
         Securitization (as defined below), except as contemplated by (iii)
         above;

                   (v) no Restricted Entity shall make any Investment in any
         Special Purpose Subsidiary;

                   (vi) the aggregate cash balances in all bank accounts
         maintained by the Restricted Entities with any depositary institution
         which is not a Lender shall not at any time exceed $1,000,000; and

                   (vii) neither the Company nor any of its Subsidiaries will
         make any payment of principal of any Indebtedness of any Restricted
         Entity other than Loans.

         (e) If any of the events or conditions specified in clauses (i), (ii),
(iii) and (iv) below shall occur, the Required Lenders may terminate the Waiver
Period at their option by notice to the Company, such termination to be
effective immediately upon the giving of such notice. The events and conditions
referred to in the preceding sentence are:

                   (i) the Company shall not have delivered to the Lenders by
         January 30, 2002, its business plan (as well as a commentary on the
         proposed execution of such business plan), which shall include
         financial projections (including income statement, balance sheet, cash
         flow and other data), project backlog and other data by business unit
         on a quarterly basis for fiscal year 2002 and on an annual basis for
         fiscal year 2003;

                   (ii) the Company shall not have delivered to the Lenders
         prior to or on the date of the meeting of Lenders referred to below,
         its business plan, which shall include financial projections (including
         income statement, balance sheet, cash flow and other data), project
         backlog and other data by business unit on an annual basis for fiscal
         years 2004 and 2005, and convened by March 1, 2002, a meeting of
         Lenders at which meeting it shall review and respond to questions
         concerning its business plan and propose the terms of a permanent
         amendment to the Credit Agreement;

                   (iii) the Company or any Subsidiary shall fail to make one or
         more payments in respect of any Indebtedness when due (without giving
         effect to any applicable grace period), or any event or condition shall
         occur which results in

                                       3
<PAGE>

         the acceleration of the maturity of any Indebtedness or enables (or,
         with the giving of notice or lapse of time or both, would enable) the
         holder of such Indebtedness or any person acting on such holder's
         behalf to accelerate the maturity thereof; or

                   (iv) the Company shall have suffered there to be any
         reduction in the amount of financing available to it and/or its
         Subsidiaries under, or any default under or in connection with, or any
         other event or condition which would permit a reduction in the amount
         of financing available under, either (x) the $37,000,000 Participation
         Agreement and Loan Facility dated as of December 16, 1994 among
         National Westminster Bank plc, the other lenders named therein and
         Perryville III Trust (the "PERRYVILLE LEASE AGREEMENT") or (y) the
         Receivables Purchase Agreement among Foster Wheeler Funding
         Corporation, Foster Wheeler Capital & Finance Corporation, Market
         Street Funding Corporation and PNC Bank, National Association dated as
         of September 25, 1998 (the "RECEIVABLES SECURITIZATION"), each as
         amended prior to the Amendment Effective Date; PROVIDED, however, that
         the Company may reduce the amount of financing available under the
         Perryville Lease Agreement, but only to the extent ratably equivalent
         to the reduction in outstanding unsecured exposure under the Credit
         Agreement by virtue of expiration of Letters of Credit (or payment of
         principal) during the Waiver Period.

The Company shall forthwith notify the Lenders of any event or condition
described above of which it has knowledge.

         (f) The Company acknowledges that, upon formal approval by its Board of
Directors of the Special Charge, one or more Events of Default would exist but
for the waiver granted pursuant to subsection (a) above.

         (g) Each of the waivers granted pursuant to subsections (a), (b) and
(c) above shall be limited precisely as written, shall not constitute a waiver
of compliance with, or an Event of Default or Potential Default arising under,
any provision of the Credit Agreement except those specified above and shall not
constitute a waiver of compliance with, or an Event of Default or Potential
Default under, such specified Sections at any time after such waiver ceases to
be effective. Each such waiver shall cease to be effective at the earliest of
(i) 12:00 Noon (New York City time) on April 15, 2002, (ii) the time any
condition specified in subsection (d) ceases to be met and (iii) the time the
Waiver Period is terminated pursuant to subsection (e).

         SECTION 3. CERTAIN AMENDMENTS TO CREDIT AGREEMENT. (a) Section
5.01(f)(i) of the Credit Agreement is amended (i) by deleting the first proviso

                                       4
<PAGE>

thereunder and (ii) by changing each reference to "10" in the second proviso
thereunder to "two";

         (b) Section 6.11(iv) of the Credit Agreement is amended by deleting
clause (x) thereunder; and

         (c) Section 7.01(d) of the Credit Agreement is amended by restating it
in its entirety as follows:

         (d) Any Borrower shall default in the performance or observance of any
covenant contained in Article VI hereof.

         SECTION 4. COOPERATION. The Company shall use its best efforts to give
Ernst & Young Corporate Finance LLC access to such information and personnel as
may be necessary or requested by them in completing the services contemplated by
their engagement letter.

         SECTION 5. REPRESENTATIONS OF THE COMPANY. The Company represents and
warrants that (i) subject in the case of Section 3.08 to matters disclosed in
writing to the Lenders prior to the Amendment Effective Date, the
representations and warranties of the Company set forth in Article 3 of the
Credit Agreement will be true on and as of the Amendment Effective Date and (ii)
no Event of Default or Potential Default will have occurred and be continuing on
such date, in each case after giving effect to this Amendment.

         SECTION 6. GOVERNING LAW. This Amendment shall be governed by and
construed in accordance with the laws of the State of New York.

         SECTION 7. COUNTERPARTS. This Amendment may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.

         SECTION 8. CONDITIONS TO EFFECTIVENESS. This Amendment shall become
effective on the date when the following conditions are met (the "AMENDMENT
EFFECTIVE DATE"):

                   (a) the Administrative Agent shall have received from each of
         the Borrowers and the Guarantors and Lenders comprising the Required
         Lenders a counterpart hereof signed by such party or facsimile or other
         written confirmation (in form satisfactory to the Administrative Agent)
         that such party has signed a counterpart hereof;

                                       5
<PAGE>

                   (b) the Administrative Agent shall have received evidence
         satisfactory to it of the payment by the Company of all fees and
         expenses owed by it to Ernst & Young Corporate Finance LLC and Peterson
         Consulting for which invoices have theretofore been rendered;

                   (c) the Administrative Agent shall have received an amendment
         fee for the account of each Lender from which the Administrative Agent
         shall have received a signed counterpart hereof (or satisfactory
         confirmation of its signing a counterpart hereof) not later than the
         date of satisfaction of the condition in clause (a) in an amount equal
         to 0.25% of such Lender's Commitment; and

                   (d) the Company shall have paid all other fees and expenses
         payable by the Company pursuant to any written agreement in connection
         with this Amendment.

                                       6
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the date first above written.

ATTEST:                             FOSTER WHEELER LLC, as a Borrower
                                      By: Foreign Holdings Ltd., its sole member

By       /s/ John A. Doyle, Jr.       By       /s/ Steven Weinstein
   -----------------------------------   ---------------------------------------
   Name:  John A. Doyle, Jr.             Name:  Steven I. Weinstein
   Title: Assistant Secretary            Title: Vice President

                                       7
<PAGE>

                                      FOSTER WHEELER USA CORPORATION, as a
                                        Borrower

                                      By       /s/ Robert A. Koeckert
                                         ---------------------------------------
                                         Name:  Robert A. Koeckert
                                         Title: Treasurer

                                       8
<PAGE>

                                      FOSTER WHEELER ENERGY INTERNATIONAL, INC.,
                                         NOW KNOWN AS FOSTER WHEELER POWER
                                         GROUP, INC., as a Borrower

                                       By       /s/ Robert D. Iseman
                                          --------------------------------------
                                          Name:  Robert D. Iseman
                                          Title: Treasurer

                                       9
<PAGE>

                                      FOSTER WHEELER ENERGY CORPORATION, as a
                                        Borrower

                                       By       /s/ Robert A. Koeckert
                                          --------------------------------------
                                          Name:  Robert A. Koeckert
                                          Title: Treasurer

                                       10
<PAGE>

                                      FOSTER WHEELER US HOLDINGS, INC.,
                                        NOW KNOWN AS FOSTER WHEELER, INC.,
                                        as a Guarantor

                                      By       /s/ Robert D. Iseman
                                         ---------------------------------------
                                         Name:  Robert D. Iseman
                                         Title: Vice President & Treasurer

                                       11
<PAGE>

                                      FOSTER WHEELER INTERNATIONAL HOLDINGS,
                                        INC., as a Guarantor

                                      By       /s/ Robert D. Iseman
                                         ---------------------------------------
                                         Name:  Robert D. Iseman
                                         Title: Vice President & Treasurer

                                       12
<PAGE>

                                      FOREIGN HOLDINGS LTD., as a Guarantor

                                      By       /s/ Robert D. Iseman
                                         ---------------------------------------
                                         Name:  Robert D. Iseman
                                         Title: Treasurer

                                       13
<PAGE>

                                      FOSTER WHEELER LTD., as a Guarantor

                                      By       /s/ Robert D. Iseman
                                         ---------------------------------------
                                         Name:  Robert D. Iseman
                                         Title: Vice President & Treasurer

                                       14
<PAGE>

                                      BANK OF AMERICA, N.A., individually and as
                                        Administrative Agent, LC Issuer and
                                        Swingline Lender

                                      By       /s/ Fred A. Zagar
                                         ---------------------------------------
                                         Name:  Fred A. Zagar
                                         Title: Managing Director

                                       15
<PAGE>

                                      FIRST UNION NATIONAL BANK, individually
                                        and as Syndication Agent

                                      By       /s/ Ron R. Ferguson
                                         ---------------------------------------
                                         Name:  Ron R. Ferguson
                                         Title: Senior Vice President

                                       16
<PAGE>

                                      ABN AMRO BANK N.V., individually and as
                                        Documentation Agent

                                      By       /s/ Judith M. Bresnen
                                         ---------------------------------------
                                         Name:  Judith M. Bresnen
                                         Title: Group Vice President

                                      By       /s/ John M. Pastore
                                         ---------------------------------------
                                         Name:  John M. Pastore
                                         Title: Assistant Vice President

                                       17
<PAGE>

                                      TORONTO DOMINION (TEXAS), INC.

                                      By       /s/ Ann S. Slanis
                                         ---------------------------------------
                                         Name:  Ann S. Slanis
                                         Title: Vice President

                                       18
<PAGE>

                                      NATIONAL WESTMINSTER BANK PLC, NEW YORK
                                        BRANCH

                                      By
                                         ---------------------------------------
                                         Name:
                                         Title:

                                      NATIONAL WESTMINSTER BANK PLC, NASSAU
                                        BRANCH

                                      By
                                         ---------------------------------------
                                         Name:
                                         Title:

                                       19
<PAGE>

                                      THE BANK OF NOVA SCOTIA

                                      By       /s/ Brian S. Allen
                                         ---------------------------------------
                                         Name:  Brian S. Allen
                                         Title: Managing Director

                                       20
<PAGE>

                                      BANK OF TOKYO-MITSUBISHI TRUST COMPANY

                                      By       /s/ R. F. Kay
                                         ---------------------------------------
                                         Name:  R. F. Kay
                                         Title: Vice President

                                       21
<PAGE>

                                      CITIBANK, N.A.

                                      By       /s/ Michael C. Becker
                                         ---------------------------------------
                                         Name:  Michael C. Becker
                                         Title: Senior Vice President

                                       22
<PAGE>

                                      DEUTSCHE BANK AG NEW YORK BRANCH
                                        and/or CAYMAN ISLANDS BRANCH

                                      By      /s/ David G. Dickinson, Jr.
                                         ---------------------------------------
                                         Name:  David G. Dickinson, Jr.
                                         Title: Vice President

                                      By       /s/ Hans. C. Narberhaus
                                         ---------------------------------------
                                         Name:  Hans C. Narberhaus
                                         Title: Vice President

                                       23
<PAGE>

                                    BNP PARIBAS (successor by merger to Paribas)

                                      By       /s/ Barry Liu
                                         ---------------------------------------
                                         Name:  Barry Liu
                                         Title: Vice President

                                      By       /s/ Francis Ballard
                                         ---------------------------------------
                                         Name:  Francis Ballard
                                         Title: Director

                                       24
<PAGE>

                                      PNC BANK, NATIONAL ASSOCIATION

                                      By      /s/ Dennis F. Lennon
                                         ---------------------------------------
                                         Name:  Dennis F. Lennon
                                         Title: Vice President

                                       25
<PAGE>

                                      SOCIETE GENERALE, NEW YORK BRANCH

                                      By       /s/ Jose A. Moreno
                                         ---------------------------------------
                                         Name:  Jose A. Moreno
                                         Title: Director

                                       26
<PAGE>

                                      WELLINGTON PARTNERS LIMITED PARTNERSHIP

                                      By: Citadel Limited Partnership,
                                             Portfolio Manager
                                      By: GLB Partners, L.P., General Partner
                                      By: Citadel Investment Group, L.L.C.,
                                             General Partner

                                      By          /s/ Brad Couri
                                         ---------------------------------------
                                         Name:  Brad Couri
                                         Title: Senior Managing Director

                                       27
<PAGE>

                                      LIBERTYVIEW FUND LLC

                                      By       /s/ Steven S. Rogers
                                         ---------------------------------------
                                         Name:  Steven S. Rogers
                                         Title: Authorized Signatory

                                       28
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                                                                      SCHEDULE A

4th Quarter Charge 2001
Expected to result in a minimal net cash outlay

                                                   PRE-TAX          AFTER-TAX
                                                   -------          ---------
CONTRACT RELATED:                                      ($ in millions)
   HRSGs (6 major Contracts)                        $42.4              $27.5
   Clark Refinery Warranty                           11.1                7.2
   Receivables (20 Contracts)                        24.2               15.7
   Claims Reassessment                               37.0               24.1
RESTRUCTURING:
   Coli Termination                                  20.0               13.0
   Other Restructuring                               21.6               14.0
   Tax Valuation Allowance                                             155.9
                                                                      ------
                                                                      $257.4

FAS 142 (Goodwill) for $25.0 million will be applied in 1st quarter 2002

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00037-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00037-of-00352.parquet"}]]