Common use of Initial Retainer Clause in Contracts

Initial Retainer. Company shall cause its parent, Fluor Corporation to issue Consultant an initial retainer as follows: Shares of Fluor Corporation common stock in an amount equal to $500,000.00 (“Target Amount”) as determined by taking the closing share price for such shares on the date that is five (5) business days following the date of this Agreement, and dividing the Target Amount by such closing share price (the “Share Grant”). As a condition to the Share Grant, if requested, Consultant shall execute Fluor Corporation’s form of share grant agreement. Such shares shall be delivered by Fluor Corporation to Consultant within thirty (30) days following the date of this Agreement.