Exhibit 10.24
VALUE DRIVER INCENTIVE AWARD
AGREEMENT
This Value Driver Incentive Award Agreement
(“Agreement”) entered into as of [date of grant], by
and between Fluor Corporation, a Delaware corporation (the
“Company”), and [name of recipient]
(“Grantee” or “you”) evidences and confirms
the following Value Driver Incentive Award (“VDI
Award”) by the Committee under the Fluor Corporation 2008
Executive Performance Incentive Plan (the
“Plan”).
Section 1.
AWARD SUBJECT TO
PLAN
Your VDI Award is made subject to all of the
terms and conditions of this Agreement and the Plan, a copy of
which is provided to Grantee herewith, including any terms,
rules or determinations made by the Committee (as defined in
the Plan), pursuant to its administrative authority under the Plan
and such further terms as are set forth in the Plan that are
applicable to awards thereunder, including without limitation
provisions on adjustment of awards, non-transferability,
satisfaction of tax requirements and compliance with other
laws. Capitalized terms used in this Agreement and not
defined herein have the meaning set forth in the Plan.
Section 2.
MEASURE
DEFINITIONS
Your VDI Award target is comprised of
[performance measures — to be determined by the Organization
and Compensation Committee. The Plan details what measures
can be used for programs granted under the Plan. It may
include performance criteria such as net earnings, new awards
(dollars), new awards (percentage), new awards gross margin
(dollars), new awards gross margin (percentage) and/or others as
defined in the Plan].
Section 3.
PERFORMANCE TARGET AND VALUE OF
AWARD
Your VDI Award target amount is [dollar value of
award] calculated on the basis of [calculation based on percentage
weighting of each measure over the number of years determined by
the Organization and Compensation Committee].
If [performance measure] for the Performance
Period is:
(a)
less than [insert value], you will
not be eligible to receive any amount of this portion of your
target amount.
[Additional ranges and amounts may
be included]
(b)
greater than [insert value], you
will be eligible to receive 200% of
