Item 1.01 Entry into a Material Definitive Agreement

On May 28, 2009, the Board of Directors of Tutor Perini Corporation (the "Company") approved a one-time cash payment of $3,000,000 to Ronald N. Tutor for his agreement to personally guarantee certain surety bond obligations related to the McCarran Airport construction project awarded to Perini Building Company in July 2008. The Company expects to make this payment in June 2009. Mr. Tutor was required by the surety companies to enter into this guaranty for the benefit of Perini Building Company in connection with the award of this project to the Perini Building Company. Mr. Tutor has agreed to remain as guarantor until the project is completed. In determining the appropriate fee to pay Mr. Tutor for this guarantee, the Board of Directors considered information about market rates for third-party guaranty fees. Mr. Tutor is the Company's Chairman and CEO and the beneficial owner of approximately 46% of the Company's outstanding common stock. Mr. Tutor is not receiving payment for any of the other personal guaranties he has entered into for ongoing projects of the Company's subsidiary, Tutor-Saliba. The Company does not expect Mr. Tutor to be obligated to provide personal guarantees in the future.