Nearing bankruptcy in 1996, Morrison-Knudsen merged with Dennis Washington's Washington Construction Group in May, and later became Washington Group International, based at MK's headquarters in Boise. Agee was Chairman of Semper Charitable Foundation, the Semper family's charitable foundation, and chaired Semper Partners, a venture capital and consulting firm founded in partnership with his wife, Mary Cunningham Agee. An example of Agee's success in venture capital and consulting was the growth and sale of Mozzarella Fresca, a company that he helped develop into the largest fresh mozzarella manufacturer in the West with customers ranging from Whole Foods to Domino's Pizza. Agee served on the Board of Directors of Fortune 500 firms including Dow Jones (1978–1993), the Great Atlantic & Pacific Tea Company (1974–1977), Morrison Knudsen (1974–1977 and 1981–1985) Equitable Life (1976–1985), ASARCO (1979–1981), and General Foods (1979–1983). Agee also served as a Director of Allied Corporation, MK Gold Company, MK Rail Corporation, LoJack Corporation and Key Bank Corp. Other directorships included the Committee for Economic Development, National Council for U.S. - China Trade, the Urban Institute, the Citizens Research Council of Michigan, the Detroit Renaissance Foundation, the United Foundation, the Detroit Economic Growth Corporation and the Cranbrook Education Community. Agee died from complications of respiratory failure caused by vascular degeneration, Alzheimer's Disease and Scleroderma, a connective tissue disease, at a Seattle hospital on December 20, 2017 at the age of 79. Agee received honorary doctorates from the University of Detroit (1980), Lawrence Institute of Technology (1980), Eastern Michigan University (1980), Bryant College, Cleary University, and Nathaniel Hawthorne College. In 1978, he received the Harvard Business School's Alumni Achievement Award  and in 1990 received the Ellis Island Medal of Honor. Agee was elected to the alumni hall of fame at the University of Idaho in 1978, and was also that year's commencement speaker.