Exhibit 10.2
ALLIANT TECHSYSTEMS
INC.
DEFERRED FEE PLAN
FOR NON-EMPLOYEE
DIRECTORS
(As amended and restated December
12, 2005)
1.
Deferral
Election: A
non-employee director of Alliant Techsystems Inc. (the
“Company”) electing to participate in this Plan
(“Participant”) may defer the entire amount (the
“Deferred Amount”) of one or more or all of the
following: installments of annual retainer fees; Board
meeting fees (including Committee meeting fees); and Board
committee chair fees.
2.
Timing of
Election: An
election to defer fees payable during any calendar year must be
received by the Company by the last business day of the preceding
year. An election to defer fees will remain in effect for
all calendar years subsequent to the date of receipt by the Company
of such election to defer. A Participant may change or
rescind an election to defer fees payable during a future calendar
year by giving the Company written notice of such change or
rescission by the last business day of the preceding year.
The deferral of fees payable prior to the effective date of any
such change or rescission shall be irrevocable; and any such change
or rescission shall be effective only for calendar years following
the receipt by the Company of such change or rescission.
Notwithstanding the foregoing, an election may be made on or before
March 15, 2005 to defer fees for 2005 and subsequent years that are
payable after the date of such election.
New directors may participate in the
Plan during the year they become directors by electing, within 30
days after the date they become directors, to defer fees and/or
retainers payable for meetings and periods following such
date.
3.
Deferral
Options: A
Participant shall have the option of having the Deferred Amount
credited to a cash unit account (“Cash Account”), a
share unit account (“Share Account”), or a combination
of the two.
4.
Share Accounts:
At the end of each calendar quarter
a Participant’s Share Account shall be credited with a number
of units (“Share Units”) equal to (a) the portion of
the Deferred Amount for such quarter designated to be credited to
the Participant’s Share Account divided by (b) the closing
price of the Company’s Common Stock (“Stock”) as
reported on the New York Stock Exchange Composite Tape
(“NYSE”) on the next to the last trading business day
immediately preceding the end of such calendar quarter.
Whenever cash dividends are paid by
the Company on outstanding Stock, there shall be credited to the
Share Account additional Share Units equal to (i) the aggregate
dividend that would be payable on outstanding shares of Stock equal
to the number of Share Units in the Share Account on the record
date for the dividend divided by (ii) the closing price of the
Stock as reported on the NYSE on the last trading business day
immediately preceding the date of payment of the
dividend.
The number of Share Units credited
to a Share Account shall be adjusted as appropriate in the event of
any changes in the outstanding Stock by reason of any stock
dividend, stock split, recapitalization, merger, consolidation,
combination or exchange of stock or other similar corporate
change.
