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ALLIANT TECHSYSTEMS INC. DEFINED CONTRIBUTION SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

Equity Contribution Agreement

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ALLIANT TECHSYSTEMS INC

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Title: ALLIANT TECHSYSTEMS INC. DEFINED CONTRIBUTION SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
Date: 11/3/2006
Industry: AIRDEF    

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Exhibit 10

Exhibit 10.3

 

ALLIANT TECHSYSTEMS INC.

Defined Contribution Supplemental Executive Retirement Plan

Master Plan Document

First Effective January 1, 2007

 



TABLE OF CONTENTS

 

 

 

ARTICLE 1

 

Definitions

 

 

 

ARTICLE 2

 

Eligibility

 

 

 

2.1

 

Eligibility

2.2

 

Termination of a Participant’s Eligibility

 

 

 

ARTICLE 3

 

Company Contribution Amounts;Vesting; Crediting; Taxes

 

 

 

3.1

 

Company Contribution Amount

3.2

 

Crediting of Amounts after Benefit Distribution

3.3

 

Vesting

3.4

 

Crediting and Debiting of Account Balances

3.5

 

FICA and Other Taxes

 

 

 

ARTICLE 4

 

Distribution of Benefits

 

 

 

4.1

 

Benefit Distribution Date

4.2

 

Actual Payment Date

4.3

 

Payment in Cash

 

 

 

ARTICLE 5

 

Beneficiary Designation

 

 

 

5.1

 

Beneficiary

5.2

 

Beneficiary Designation; Change; Spousal Consent

5.3

 

Receipt

5.4

 

No Beneficiary Designation

5.5

 

Doubt as to Beneficiary

5.6

 

Discharge of Obligations

 

 

 

ARTICLE 6

 

Leave of Absence

 

 

 

6.1

 

Paid Leave of Absence

6.1

 

Unpaid Leave of Absence

 

 

 

ARTICLE 7

 

Termination of Plan, Amendment or Modification

 

 

 

7.1

 

Termination of Plan

7.2

 

Amendment

7.3

 

Effect of Payment

 

 

 

ARTICLE 8

 

Administration

 

i

 



 

 

 

 

8.1

 

Committee Duties

8.2

 

Agents

8.3

 

Binding Effect of Decisions

8.4

 

Indemnity

8.5

 

Employer Information

 

 

 

ARTICLE 9

 

Other Benefits and Agreements

 

 

 

9.1

 

Coordination with Other Benefits

 

 

 

ARTICLE 10

 

Trust

 

 

 

10.1

 

Establishment of the Trust

10.2

 

Interrelationship of the Plan and the Trust

10.3

 

Distributions From the Trust

 

 

 

ARTICLE 11

 

Claims Procedures

 

 

 

11.1

 

Presentation of Claim

11.2

 

Notification of Decision

11.3

 

Review of a Denied Claim

11.4

 

Decision on Review

11.5

 

Legal Action

11.6

 

Determinations

 

 

 

ARTICLE 12

 

Miscellaneous

 

 

 

12.1

 

Status of Plan

12.2

 

Unsecured General Creditor

12.3

 

Employer’s Liability

12.4

 

Nonassignability

12.5

 

Not a Contract of Employment

12.6

 

Furnishing Information

12.7

 

Terms

12.8

 

Captions

12.9

 

Governing Law

12.10

 

Notice

12.11

 

Successors

12.12

 

Spouse’s Interest

12.13

 

Validity

12.14

 

Incompetent

12.15

 

Deduction Limitation on Benefit Payments

 

ii

 



 

12.16

 

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

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