<PAGE>
EXHIBIT 10.12
DIRECTORS' LIFE INSURANCE SUMMARY
ELIGIBILITY
-----------
All members of the Fluor Corporation Board of Directors.
BENEFITS
--------
A term insurance policy on the life of the insured payable at death to the
insured's named beneficiary in the amount of $75,000.
DETAILS
-------
For all directors who are employees of Fluor Corporation, this benefit is
provided through a Group Insurance Contract with The CIGNA Insurance Company.
For non-employee directors, the benefit is provided through individual Annual
Renewal Term policies purchased from various competitive insurance underwriters.