Exhibit 10.3
AMENDMENT TO THE HAWKER
BEECHCRAFT
CORPORATION RETIREMENT INCOME
PLAN FOR
SALARIED EMPLOYEES
THIS AMENDMENT
(“Amendment”) is made
this 30th day of December, 2008, to the Hawker Beechcraft
Corporation Retirement Income Plan for Salaried Employees (the
“Plan”) by Hawker Beechcraft Corporation (the
“Company”), as sponsor of the Plan.
WHEREAS, the Company has reserved the right to amend the
Plan; and
WHEREAS, it is now desirable to amend the
Plan.
NOW, THEREFORE,
effective January 1, 2008,
Section 1.15 of the Plan is hereby amended in its entirety to
read as follows:
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1.15
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“Compensation” shall
mean the wages as defined in Code Section 3401(a) for purposes
of income-tax withholding but without regard to any rules that
limit the remuneration included in wages based on the nature or
location of the employment or services performed.
“Compensation” includes the following amounts paid
after a separation from service by the later of 2
1
/ 2 months
after the separation or the last day of the Limitation Year that
includes the date of the separation from service:
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(1)
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Regular
compensation for services during the Employee’s regular
working hours, or compensation for services outside the
Employee’s regular working hours (such as overtime or shift
differential), commissions, bonuses or similar payments and the
payment would have been paid to the
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