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Executive Officer Incentive Plan

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Title:

Executive Officer Incentive Plan

Entities:

Alliant Techsystems Inc.

Date:

2006

Size:

Preview shows 9KB of 23KB total

Price:

$44

ID:

#2279691

► Plans ► Incentive ► Officer ► Executive Officer Incentive Plans
► Capital Goods ► Defense

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ALLIANT TECHSYSTEMS INC.

EXECUTIVE OFFICER INCENTIVE PLAN

SECTION 1. PURPOSE AND EFFECTIVE DATE

1.1 Purpose of this Plan. The purpose of this Executive Officer Incentive Plan (this Plan) is to provide incentive compensation to executive officers of Alliant Techsystems Inc. (the Company) in accordance with the Companys pay-for-performance philosophy by directly relating awards payable under this Plan to company, business unit and/or individual performance. This Plan is intended to permit the grant of awards under this Plan to qualify as qualified performance-based compensation within the meaning of Section 162(m) of the Code (as defined in Section 2.1).

1.2 Effective Date. This Plan will be effective as of the date of approval by the stockholders of the Company in accordance with applicable law (the Effective Date).

SECTION 2. DEFINITIONS

2.1 Definitions. The following capitalized terms used in this Agreement will have the meanings set forth below:

(a) Actual Award means as to any Performance Period, the actual award (if any) payable to a Participant for the Performance Period. Each Actual Award will be determined pursuant to the provisions of Section 3.6.

(b) Board means the Board of Directors of the Company.

(c) Cause means the occurrence of any of the following:

(i) the Participant willfully and continually fails to substantially perform his or her duties of employment (other than because of a mental or physical impairment) for a period of at least 30 days after being given notice of such failure;

(ii) the Participant (A) engages in any act of dishonesty, wrongdoing or moral turpitude (whether or not a felony) or (B) violates the Companys Code of Conduct or a Company policy, which violation has an adverse effect upon the Company; or

(iii) the Participant breaches his or her duty of loyalty or commits an unauthorized disclosure of proprietary or confidential information of the Company.

(d) Code means the Internal Revenue Code of 1986, as amended from time to time.

(e) Committee means (i) the Personnel and Compensation Committee of the Board or (ii) if no Personnel and Compensation Committee exists, then a committee of Board members appointed by the Board to administer this Plan in accordance with Section 5.1.

(f) Covered Employee Participant means any Participant who is reasonably expected to be a covered employee within the meaning of Section 162(m)(3) of the Code with respect to any Performance Period in which the Company would be entitled to take a compensation deduction for an Actual Award to such Participant (determined without regard to the limitation on deductibility imposed by Section 162(m) of the Code).

(g) Covered Employee Performance Goals means objective and measurable performance goals determined by the Committee, in its discretion, to be applicable to a Covered Employee Participant for a Performance Period. As determined by the Committee, the Covered Employee Performance Goals for any award may provide for a targeted level or levels of achievement using one or more of the following measures: (i) sales or revenues (including, without limitation, sales or revenue growth); (ii) gross profit; (iii) income before interest and taxes; (iv) income before interest, taxes, depreciation and amortization; (v) net income; (vi) net income from operations; (vii) earnings per Share; (viii) return measures (including, without limitation, return on assets, capital, invested capital, equity, sales or revenues); (ix) productivity ratios; (x) expense or cost reduction measures; (xi) margins; (xii) operating efficiency; (xiii) market share; (xiv) customer satisfaction; (xv) working capital targets; (xvi) budget comparisons; (xvii) implementation or completion of specified projects or processes; (xviii) the formation of joint ventures, establishment of research or development collaborations or the completion of other transactions; (xix) cash flow (including, without limitation, operating cash flow, free cash flow and cash flow return on equity); (xx) Share price (including, without limitation, growth in Share price and total stockholder return); (xxi) profitability of an identifiable business unit or product; (xxii) economic profit or economic value added; (xxiii) cash value added; (xxiv) market share; or (xxv) Individual Objectives. The Covered Employee Performance Goals may differ from Covered Employee Participant to Covered Employee Participant and from award to award.

(h) Determination Date means the 90th day of any Performance Period.

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