EMPLOYMENT AGREEMENT (this “ Agreement ”) dated as of May 28, 2010, among FOSTER
WHEELER INC. , a Delaware corporation (the “ Company ”), MICHAEL LIEBELSON (the “ Executive
”), and FOSTER WHEELER INTERNATIONAL CORP. , a Delaware corporation (the “ Guarantor ”).
WHEREAS, the Executive and the Company wish to enter into an employment relationship, on the terms
and conditions set forth in this Agreement; and
WHEREAS, the Guarantor is an affiliate of the Company and will receive substantial indirect benefits
from the Executive’s employment with the Company on the terms set forth in this Agreement and all parties desire
that the Guarantor guarantee the Company’s obligations under this Agreement.
ACCORDINGLY , the Company, the Executive and the Guarantor hereby agree as follows:
1. Employment, Duties and Acceptance.
1.1 Employment, Duties . The Company hereby agrees to employ the Executive for the Term (as defined in
Section 2.1), to render exclusive and full-time services to the Company in the capacity of Executive Vice
President & Chief Development Officer of Foster Wheeler AG (“ Parent ”) and to perform such other duties
(including service as a director or officer of any affiliate of the Company if elected) as may be assigned by the
Chief Executive Officer of Parent; provided, however , that the Executive may, subject to approval by the Chief
Executive Officer of Parent, serve on the Board of Directors of not more than two for-profit businesses at any
time during the Term that do not compete with Parent or any of its subsidiaries and may participate in civic,
charitable, industry, and professional organizations to the extent that such participation does not materially
interfere with the performance of Executive’s duties hereunder. The Executive’s title shall be Executive Vice
President & Chief Development Officer , or such other titles of at least equivalent level consistent with the
Executive’s duties fro