Tutor Perini Corporation 15901 Olden Street Sylmar, CA 91342 Tel: 818/362-8391 Fax: 818/367-9574
Chairman & CEO
August 11, 2017
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Executive Vice President, CEO Building Segment
Re: Amendment to May 9, 2017 Employment Agreement
Dear ▇▇▇▇▇▇▇:
The following supersedes, in entirety, the provisions discussed in point 3) of your Employment Agreement letter dated May 9, 2017 regarding the stock options and stock grants related to your employment. Accordingly, under the amended terms you will receive the following:
Award Date Contract Year Unrestricted Stock Units Restricted Stock Units Stock Options Vesting Date Vesting Criteria 8/16/2017 1 20,000 6/1/2018 Time - 1 year 6/1/2017 - 6/1/2018 6/1/2018 1 20,000 6/1/2018 Immediately vesting when awarded on 6/1/18 8/16/2017 2 10,000 10,000 3/15/2019 Performance for 2018(1) 8/16/2017 2 10,000 10,000 6/1/2021 Time - 3 years 6/1/2018 - 6/1/2021 8/16/2017 3 10,000 10,000 3/16/2020 Performance for 2019(1) 8/16/2017 3 10,000 10,000 6/1/2022 Time - 3 years 6/1/2019 - 6/1/2022 Total 20,000 40,000 60,000
(1)Based on achieving 80% of the performance goal to be established by the Compensation Committee.
Sincerely,
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TUTOR PERINI CORPORATION |
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/s/ ▇▇▇▇▇▇ ▇. Tutor |
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▇▇▇▇▇▇ ▇. Tutor |
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Chairman & CEO |
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I accept the terms of the amendment to May 9, 2017 Employment Agreement set forth above:
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/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ |
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8/11/17 |
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