Summary of SHAW GROUP INC - Yahoo! Finance

Change in Directors or Principal Officers, Other Events, Financial Statements and

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) Effective June 28, 2008, The Shaw Group Inc., a Louisiana corporation (the "Company"), and George P. Bevan, who has been serving as Senior Vice President of the Company's subsidiary, Shaw Environmental & Infrastructure, Inc., reached an agreement pursuant to which Mr. Bevan will replace Mr. Ronald W. Oakley as President of the Environmental & Infrastructure Group of the Company. Accordingly, Mr. Ronald W. Oakley, effective June 28, 2008, will no longer serve as President of the Environmental & Infrastructure Group. Mr. Oakley will, however, continue serving the Company in the capacity of Managing Director of Shaw Group UK Holdings, a subsidiary of the Company.

(e) In connection with Mr. Oakley's re-assignment within the Company as described above, the Company and Mr. Oakley entered into an amendment, effective as of June 28, 2008 (the "Amendment"), to the Employment Agreement dated as of August 3, 2006, by and between the Company and Ronald W. Oakley (the "Employment Agreement"). The Employment Agreement is incorporated in this Current Report on Form 8-K by reference to the designated Exhibit to the Company's Current Report on Form 8-K filed on August 4, 2006.

Pursuant to the terms and conditions of the Amendment: (1) Mr. Oakley shall serve as Managing Director of Shaw Group UK Holdings with responsibility for European sales/business development activities or other a similar position with similar duties and responsibilities that may be assigned to him from time to time by the Company's Chief Executive Officer; (2) Mr. Oakley's business assignment location for the remainder of the term of the Employment Agreement will be the principal place of business for the Company's United Kingdom business operations; and (3) the definition of "Good Reason" under the Employment Agreement shall include a material diminution in, or adverse alteration to Mr. Oakley's title, position or duties, including no longer serving as the Managing Director of Shaw Group UK Holdings, without Mr. Oakley's consent.

The foregoing summary of the terms and conditions of the Amendment is qualified in its entirety by the complete text of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated herein by reference.