SHAW GROUP INC
THIRD AMENDMENT TO EMPLOYMENT AGREEMENT - ROBERT L. BELK
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<TYPE>EX-10.2
<SEQUENCE>2
<FILENAME>h50109exv10w2.htm
<DESCRIPTION>THIRD AMENDMENT TO EMPLOYMENT AGREEMENT - ROBERT L. BELK
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">EXHIBIT
10.2
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FIRST AMENDMENT TO EMPLOYMENT AGREEMENT</B>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This <B>FIRST AMENDMENT TO EMPLOYMENT AGREEMENT </B>(the &#147;First Amendment&#148;), is entered into and made
effective as of the &#95;&#95;&#95; day of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 2007, by and between The Shaw Group Inc., a
Louisiana corporation, having its principal office at 4171 Essen Lane, Baton Rouge, Louisiana,
70809 (the &#147;Company&#148;) and Gary P. Graphia, a resident and domiciliary of the State of Louisiana
(the &#147;Employee&#148;), to amend that certain Employment Agreement between the Company and the Employee
effective as of October&nbsp;14, 2005, (the &#147;Employment Agreement&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For purposes hereof, the Company and the Employee may hereinafter be referred to individually as a
&#147;Party&#148; and collectively as the &#147;Parties.&#148;
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>RECITALS</B>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>WHEREAS, </B>the Company has been employing the Employee, and the Employee has been employed by the
Company, with Employee serving in the executive officer positions of General Counsel and Corporate
Secretary of the Company and Executive Vice President, Secretary and Chief Legal Officer of the
Company pursuant to the terms of the Employment Agreement; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>WHEREAS, </B>the Company and the Employee desire to continue Employee&#146;s executive employment
relationship pursuant to the terms of the Employment Agreement with the Employee serving as
Executive Vice President &#150; Corporate Development and Strategy of the Company or such additional or
other executive officer positions of the Company mutually agreed upon by the Company and the
Employee; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>WHEREAS, </B>the Company and the Employee wish to enter into this First Amendment to amend certain
terms of the Employment Agreement to specify the Employee&#146;s new executive officer position and to
make it expressly clear that the Employment Agreement applies not only to the Employee&#146;s current
executive officer position but also to any and all additional or other executive officer positions
to which the Company and the Employee may mutually agree.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>NOW THEREFORE, </B>in consideration of the mutual covenants, promises, undertakings and agreements made
herein and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Company and the Employee, intending to be legally bound, do hereby
promise, covenant and agree as follows:
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AGREEMENTS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Section&nbsp;1. Definitions. <B>All capitalized terms used herein and not otherwise defined shall have
the meanings given such terms in the Employment Agreement.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Section&nbsp;2. Amendment to Section&nbsp;3. Employee&#146;s Duties. </B>Section&nbsp;3 of the Employment Agreement
shall be, and hereby is, amended by deleting the first paragraph thereof and by substituting
therefore the following:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;3. <U>Employee&#146;s Duties</U>. During the Term of this Agreement, Employee shall serve as
an executive officer of the Company, and effective with the First Amendment to this Agreement
dated as of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 2007, Employee shall serve in the position of Executive Vice President &#150;
Corporate Development and Strategy. In addition, Employee shall serve in such additional or
other executive officer positions of the Company to which the Company and Employee may mutually
agree, and with such duties and responsibilities as may from time to time be assigned to
Employee by the board of directors of the Company (the &#147;Board&#148;); provided that, such duties and
responsibilities are consistent with the customary duties of such executive officer positions.&#148;
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Section&nbsp;3. Amendment to Section 7(e) Resignation for Good Reason. </B>Section&nbsp;7(e)(2) of the
Agreement, which defines one of the circumstances that constitutes Good Reason for Employee to
resign shall be, and is hereby, amended by deleting such provision in its entirety and by
substituting therefore the following:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;(2) the continued assignment to employee of any duties inconsistent with Employee&#146;s
executive officer position with the Company;&#148;
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Section&nbsp;4. No Other Changes. </B>Except as expressly provided herein, the Employment Agreement shall
remain unchanged and in full force and effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Section&nbsp;5. Effectiveness. </B>From the effective date of this First Amendment, the Employment
Agreement shall be deemed to be amended and modified as expressly herein provided, and from such
effective date on, the Employment Agreement and the First Amendment shall be read and construed
together as one and the same instrument.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>IN WITNESS WHEREOF, </B>the Company and the Employee have executed this First Amendment effective as of
the effective date first written above.
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    <TD colspan="3" valign="top" align="left"><B>THE COMPANY:</B></TD>
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    <TD colspan="3" valign="top" align="left">THE SHAW GROUP INC.</TD>
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    <TD colspan="3" valign="top" align="left"><B>THE EMPLOYEE:</B></TD>
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    <TD colspan="3" valign="top" align="left">GARY P. GRAPHIA</TD>
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