Washington Group Retention Agreements with Named Executives (March 14 & November 16, 2001)
This agreement outlines retention arrangements between Washington Group and four named executives: George H. Juetten, Ambrose L. Schwallie, Thomas H. Zarges, and Stephen M. Johnson. The agreements provide for retention bonuses to encourage these executives to remain with the company. Stephen M. Johnson's agreement is identical to the others except his bonus is prorated due to his rejoining the company partway through the year. The agreements specify the terms and conditions under which the bonuses are paid.
SCHEDULE TO EXHIBIT 10.22.1
WASHINGTON GROUP RETENTION AGREEMENTS
WITH NAMED EXECUTIVES
EACH DATED AS OF MARCH 14, 2001
George H. Juetten
Ambrose L. Schwallie
Thomas H. Zarges
DATED AS OF NOVEMBER 16, 2001
Stephen M. Johnson
NOTE: Mr. Johnson’s Retention Agreement is identical in all materials terms to those entered into with Messrs Juetten, Schwallie and Zarges, with the exception that his Retention Bonus is prorated to allow for the time during early 2001 when he was not in the Company’s employ. Mr. Johnson returned to the employ of the Company on November 12, 2001.
