ALLIANT TECHSYSTEMS INC. DEFINED CONTRIBUTION SUPPLEMENTAL EXECUTIVE RETIREMENT PLANEquity Contribution Agreement |
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Exhibit 10.3
ALLIANT
TECHSYSTEMS INC.
Defined Contribution Supplemental Executive Retirement Plan
Master
Plan Document
First Effective January 1, 2007
TABLE OF CONTENTS
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ARTICLE 1 |
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Definitions |
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ARTICLE 2 |
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Eligibility |
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2.1 |
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Eligibility |
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2.2 |
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Termination of a Participant’s Eligibility |
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ARTICLE 3 |
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Company Contribution Amounts;Vesting; Crediting; Taxes |
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3.1 |
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Company Contribution Amount |
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3.2 |
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Crediting of Amounts after Benefit Distribution |
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3.3 |
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Vesting |
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3.4 |
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Crediting and Debiting of Account Balances |
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3.5 |
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FICA and Other Taxes |
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ARTICLE 4 |
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Distribution of Benefits |
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4.1 |
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Benefit Distribution Date |
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4.2 |
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Actual Payment Date |
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4.3 |
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Payment in Cash |
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ARTICLE 5 |
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Beneficiary Designation |
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5.1 |
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Beneficiary |
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5.2 |
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Beneficiary Designation; Change; Spousal Consent |
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5.3 |
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Receipt |
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5.4 |
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No Beneficiary Designation |
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5.5 |
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Doubt as to Beneficiary |
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5.6 |
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Discharge of Obligations |
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ARTICLE 6 |
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Leave of Absence |
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6.1 |
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Paid Leave of Absence |
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6.1 |
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Unpaid Leave of Absence |
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ARTICLE 7 |
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Termination of Plan, Amendment or Modification |
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7.1 |
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Termination of Plan |
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7.2 |
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Amendment |
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7.3 |
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Effect of Payment |
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ARTICLE 8 |
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Administration |
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8.1 |
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Committee Duties |
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8.2 |
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Agents |
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8.3 |
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Binding Effect of Decisions |
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8.4 |
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Indemnity |
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8.5 |
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Employer Information |
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ARTICLE 9 |
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Other Benefits and Agreements |
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9.1 |
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Coordination with Other Benefits |
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ARTICLE 10 |
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Trust |
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10.1 |
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Establishment of the Trust |
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10.2 |
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Interrelationship of the Plan and the Trust |
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10.3 |
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Distributions From the Trust |
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ARTICLE 11 |
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Claims Procedures |
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11.1 |
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Presentation of Claim |
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11.2 |
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Notification of Decision |
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11.3 |
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Review of a Denied Claim |
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11.4 |
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Decision on Review |
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11.5 |
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Legal Action |
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11.6 |
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Determinations |
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ARTICLE 12 |
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Miscellaneous |
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12.1 |
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Status of Plan |
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12.2 |
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Unsecured General Creditor |
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12.3 |
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Employer’s Liability |
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12.4 |
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Nonassignability |
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12.5 |
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Not a Contract of Employment |
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12.6 |
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Furnishing Information |
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12.7 |
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Terms |
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12.8 |
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Captions |
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12.9 |
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Governing Law |
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12.10 |
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Notice |
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12.11 |
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Successors |
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12.12 |
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Spouse’s Interest |
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12.13 |
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Validity |
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12.14 |
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Incompetent |
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12.15 |
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Deduction Limitation on Benefit Payments |
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12.16 |
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Insurance |
iii
ALLIANT TECHSYSTEMS INC.
DEFINED CONTRIBUTION SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
First Effective January 1, 2007
Statement of Plan
ALLIANT TECHSYSTEMS INC., a Delaware corporation (hereinafter, the “Company”), hereby creates a nonqualified, unfunded, deferred compensation plan for the benefit of a select group of management and highly compensated employees whose non-elective contributions for a Plan Year under the 401(k) Plan are limited by section 401(a)(17) of the Code or as a result of the Participant’s deferrals under the Nonqualified Deferred Compensation Plan.
The purpose of this Plan is to provide specified benefits to a select group of management or highly compensated Employees who contribute materially to the continued growth, development and future business success of the Company and its subsidiaries. This Plan is nonqualified and unfunded for tax purposes and for purposes of Title I of ERISA.
ARTICLE 1
Definitions
For the purposes of this Plan, unless otherwise clearly apparent from the context, the following phrases or terms shall have the following indicated meanings:
1.1
“Account Balance” shall mean,
with respect to a Participant, an entry on the records of the Employer equal to
the sum of the Participant’s Annual Accounts. The Account Balance shall
be a bookkeeping entry only and shall be utilized solely as a device for the
measurement and determination of the amounts to be paid to a Participant, or
his or her designated Beneficiary, pursuant to this Plan.
1.2
“Administrator” shall mean
the Company, the Committee, and any person or committee of persons responsible
for performing administrative functions under this Plan.
1.3
“Annual Account” shall mean,
with respect to a Participant, an entry on the records of the Employer equal to
the following amount: (i) the sum of the Participant’s Company
Contribution Amount for any one Plan Year, plus (ii) amounts credited or
debited to such amounts pursuant to this Plan, less (iii) all distributions
made to the Participant or his or her Beneficiary pursuant to this Plan that
relate to the Annual Account for such Plan Year. The Annual Account shall
be a bookkeeping entry only and shall be utilized solely as a device for the
measurement and determination of the amounts to be paid to a Participant, or
his or her designated Beneficiary, pursuant to this Plan.
1.4
“Beneficiary” shall mean one
or more persons, trusts, estates or other entities, designated in accordance
with Article 5, that are entitled to receive benefits under this Plan upon
the death of a Participant.
1.5
“Beneficiary Designation
Form” shall mean the form established from time to time by the Senior
Vice President of Human Resources that a Participant completes, signs and
returns to the Company to designate one or more Beneficiaries.
1
1.6
“Benefit Distribution Date”
shall mean the date that triggers distribution of a Participant’s vested
Account Balance. A Participant’s Benefit Distribution Date shall be
the earliest to occur of any one of the following:
(a)
If the Participant experiences a
Termination of Employment, his or her Benefit Distribution Date shall be the
later of (i) the first day of the seventh month following the month in which
the Participant experiences a Termination of Employment or (ii) the January 31
of the calendar year following the calendar year in which the Participant
experiences a Termination of Employment; or
(b)
As soon as administratively practicable
after the Company is provided with proof that is satisfactory to the Senior
Vice President of Human Resources of the Participant’s death, if the
Participant dies prior to the complete distribution of his or her vested
Account Balance.
1.7
“Board” shall mean the board
of directors of the Company.
1.8
“Claimant” shall have the
meaning set forth in Section 11.1.
1.9
“Code” shall mean the
Internal Revenue Code of 1986, as amended from time to time.
1.10 “Committee” shall mean the Personnel and Compensation Committee (also k






