WILLBROS GROUP, INC. MANAGEMENT INCENTIVE COMPENSATION PROGRAM

Exhibit 10.1

WILLBROS GROUP, INC.

MANAGEMENT INCENTIVE COMPENSATION PROGRAM

The Compensation Committee (the “Committee”) of the Board of Directors of Willbros Group, Inc. (the “Company”) has approved this Management Incentive Compensation Program (the “Program”) to reward key employees for enhancing the value and efficiency of the Company.

The Program will consist of Participants designated by the Committee throughout the Company including its subsidiaries (collectively, the “Group”). The Program will reward the Participants based upon achievement against Performance Metrics set by the Committee at, or as soon as practicable after, the beginning of each Program Year.

The Program Year will coincide with the fiscal year of the Company. Awards made under the Program are in addition to Base Salary and Base Salary adjustments to maintain market competitiveness.

The Committee reserves the right to amend, modify or revoke the Program at its discretion, without prior notice to Participants; provided, however, any amendments, modifications or revocations shall not be retroactive as to Awards granted for prior Program Years. This is a discretionary program and no contractual right or property interest to any benefit described herein is intended to be created by this document or any related action of the Company, and none should be inferred from the descriptions of the Program.

Award – Cash awarded to a Participant under the Program, net of all required foreign, federal and state withholding taxes, due to Group performance and results.

Base Salary – The aggregate amount of wages and/or salary (but excluding any bonus, disability pay or severance pay) earned by a Participant during the applicable Program Year in which the Participant was eligible to participate in the Program.

Disability – The same meaning as such term or similar term as defined in the disability insurance policy maintained by the Company which covers the Participant at the time of the alleged disability, or in the event the Company maintains more than one disability insurance policy which covers the Participant at such time, the meaning in the disability policy most recently acquired by the Company. If the Company maintains no such disability insurance policy at such time, Disability shall mean a physical or mental condition which causes the Participant to be unable to perform substantially all of the duties of his or her position for a period of six (6) months or more as determined by the Chief Executive Officer of the Company.

Maximum Annual Incentive % – A maximum value of annual incentive expressed as a percentage of a Participant’s Base Salary.

Participant – Any employee of a member of the Group who is designated by the Committee to participate in the Program for a Program Year.

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Payout – The actual payment of an Award earned by a Participant.

Payout Date – The date an Award is paid for a Program Year which date shall be anytime between the end of the Program Year and two and one-half months following the end of the Program Year.

Performance Metrics – Critical financial, operating efficiency and Participant specific criteria against which the Committee decides to measure performance. Currently the following are the Performance Metrics:

Net Income – Net income of the Group for a Program Year per audited consolidated financial statements.

Safety – The Total Case Incident Rate (as that term is used in the United States Department of Labor’s Bureau of Labor Statistics) for the Group.

Days Sales Outstanding – The product of a formula that measures and is a reflection of the procedures and practices applied within the Group to minimize the number of days required to collect revenue earned.

Participant Intangibles – Those job performance characteristics of each individual Participant that such Participant’s supervisors determine have contributed to the achievement of Group goals.

The Committee has the right to amend or change the Performance Metrics at its discretion, including amendments or changes in light of unforeseen events.

Performance Metric Hurdles – An assigned threshold, target and maximum value that corresponds with each individual Performance Metric against which performance is measured.

Performance Metric Weighting – The allocation of a Participant’s incentive between Performance Metrics (e.g., Net Income vs. Safety).

Program – The Management Incentive Compensation Program set forth in this document and as amended by the Committee from time to time.

Program Year – The fiscal year of the Company.

Target Annual Incentive % – A target value of annual incentive expressed as a percentage of a Participant’s Base Salary determined by the Committee prior to, or as soon as practicable after, the beginning of each Program Year.

Threshold Annual Incentive % – A threshold value of annual incentive expressed as a percentage of a Participant’s Base Salary. This value corresponds to the minimum performance criteria to receive any Payout under the Program.

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The Committee, in its discretion, may establish, prior to or as soon as practicable after the end of the prior Program Year, the following for each Program Year:

The Committee will be responsible for administration of the Program, but may delegate this responsibility at its discretion.

The guidelines and procedures set forth herein will be followed by the Committee (or its designee) with respect to operation of the Program.

All employees of the Group are eligible to participate in the Program. Participation will be at the sole discretion of the Committee in consultation with senior management of the Company.

Each Participant whose employment is terminated due to death or Disability during a Program Year shall be eligible for an Award based upon the Base Salary earned by such Participant prior to termination. Otherwise, no Participant shall be eligible to receive part or all of an Award unless the Participant is employed by the Company on the Payout Date for the Award.

After the year-end audited financial statements have been finalized for a Program Year, the Awards generated, if any, will be determined and approved by the Committee. After approval by the Committee, Awards for such Program Year will be paid to Participants no later than two and one half months following the end of such Program Year. As provided above, a Participant must be employed on the Payout Date or any Award earned by such Participant will be forfeited, except in cases of death or Disability.

The Awards for each Program Year shall be calculated, in the case of Group Performance Metrics, based on the Group’s actual performance as compared to threshold, target and maximum Performance Metric Hurdle levels for the Performance Metrics determined for that Program Year by the Committee. That portion of an Award which is based on the Participant Intangibles Performance Metric shall be based on the recommendation of a Participant’s supervisor as reviewed by the Chief Executive Officer of the Company. The Participants will be granted a percentage of their Target Annual Incentive % based on their Performance Metric Weighting, as established by the Committee, with such percentage potentially increasing or decreasing, at the discretion of the Committee, after Program Year results are determined (to ensure that unforeseen events are considered and accurately measured).

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The Program is an integral part of the Company’s compensation plan for the future. The Committee reserves the power and the right at any time, and from time to time, to modify, amend or terminate (in whole or in part) any or all of the provisions of the Program; provided, however, that no such modification or amendment shall be retroactive to reduce or affect any Awards otherwise due and payable under the provisions of the Program for any Program Year during which the Program was in effect.

The incentive computation for the Program Year in which the termination of the Program occurs will be based on the period ending on the last business day immediately prior to the effective date of the Program termination. All performance calculations will be adjusted to coincide with such period. Notwithstanding the termination of the Program before the end of a Program Year, Award Payments for such Program Year will be made as provided in Section 5.

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The Program was approved by the Committee on March 1, 2007, to be effective as of January 1, 2007, and shall continue, as amended from time to time, until terminated.

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