Exhibit 10.18

CURTISS-WRIGHT CORPORATION
RETIREMENT PLAN
As Amended and Restated effective January 1, 2001

SIXTEENTH INSTRUMENT OF AMENDMENT

Recitals:

 

 

1.

Curtiss-Wright Corporation (“the Company”) has heretofore adopted the
Curtiss-Wright Corporation Retirement Plan (“the Plan”).

 

 

2.

The Company caused the Plan to be amended and restated in its entirety,
effective as of January 1, 2001, and has since caused the Plan to be further
amended.

 

 

3.

Subsequent to the most recent amendment of the Plan, it has become necessary to
amend the definition of Normal Retirement Age, to clarify that self-inflicted
injuries are excluded from the definition of Total and Permanent Disability only
to the extent that they are intentional, to update Schedule G4 for negotiated
benefits for union employees at Target Rock Corporation, and to reflect recent
acquisitions.

 

 

4.

Subsequent to the most recent amendment of the Plan, it has become necessary to
further amend the EMD component of the Plan (merged into the Plan as of January
1, 2007) to clarify that the accelerated vesting schedule does not apply to the
EMD component of the Plan, unless required under Section 411 of the Code.

 

 

5.

Articles 12.01 and 12.02 of the Plan permit the Company to amend the Plan, by
written instrument, at any time and from time to time.

Amendment:

For the reasons set forth in the Recitals to this Instrument of Amendment, the
Plan is hereby amended in the following respects:

 

 

 

 

1.

Section 1.30(b) is amended to accelerate eligibility for a Normal Retirement
Benefit from the fifth anniversary of participation to the third anniversary of
participation as follows:

 

 

 

 

 

 

“(b)

the fifth (5th) anniversary (the third (3rd) anniversary effective January 1,
2008) of the date as of which the Participant commenced employment.”

 

 

 

 

2.

Section 5.01(a) is amended in its entirety, effective January 1, 2008, to read
as follows:

 

 

 

 

 

 

“(a)

Normal Retirement Benefit determined under Section 6.01.

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Upon termination of Service prior to Normal Retirement Date, the interest of a
Participant in that portion of his Normal Retirement Benefit that is determined
in accordance with Section 6.01 shall be vested in accordance with the following
schedule, based on the number of Vesting Years of Service of the Participant on
the date of his termination of employment:

 

 

 

IF VESTING YEARS OF
SERVICE AS OF THE DATE OF
TERMINATION EQUAL:

 

THE PARTICIPANT’S
NONFORFEITABLE
PERCENTAGE IS:

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4 or less

 

0%

5 or more

 

100%

 

 

 

Effective January 1, 2008, upon termination of Service prior to Normal
Retirement Date, the interest of a Participant in that portion of his Normal
Retirement Benefit that is determined in accordance with Section 6.01 shall be
vested in accordance with the following schedule, based on the number of Vesting
Years of Service of the Participant on the date of his termination of
employment:

 

 

 

IF VESTING YEARS OF
SERVICE AS OF THE DATE OF
TERMINATION EQUAL:

 

THE PARTICIPANT’S
NONFORFEITABLE
PERCENTAGE IS:

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Less than 3

 

0%

3 or more

 

100%”

 

 

 

 

3.

Section 5.01(b) is amended in its entirety, effective January 1, 2008, to read
as follows:

 

 

 

 

 

 

“(b)

Normal Retirement Benefit derived from Cash Balance Account as determined under
Article 4.

 

 

 

 

 

 

 

(i) Participant employed prior to June 1, 1997:

 

 

 

 

 

 

 

Upon termination of Service prior to attaining his Normal Retirement Age, the
interest of a Participant who commenced employment with an Employer or an
Affiliated Employer prior to June 1, 1997 in the portion of his Normal
Retirement Benefit that is derived from his Cash Balance Account, as determined
in accordance with Article 4 shall be vested in accordance with the following
schedule based on the number of Vesting Years of Service of the Participant on
the date of his termination of Service:

 

 

 

IF VESTING YEARS OF
SERVICE AS OF THE DATE OF
TERMINATION EQUAL:

 

THE PARTICIPANT’S
NONFORFEITABLE
PERCENTAGE IS:

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--------------------------------------------------------------------------------

1

 

20%

2

 

40%

3

 

60%

4

 

80%

5

 

100%

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(ii) Participant not employed prior to June 1, 1997:

 

 

 

Upon termination of Service prior to attaining his Normal Retirement Age, the
interest of a Participant who commenced employment with an Employer or an
Affiliated Employer on or after June 1, 1997 in the portion of his Normal
Retirement Benefit that is derived from his Cash Balance Account, as determined
in accordance with Article 4 shall be vested in accordance with the following
schedule based on the number of Vesting Years of Service of the Participant on
the date of his termination of Service:

 

 

 

IF VESTING YEARS OF
SERVICE AS OF THE DATE OF
TERMINATION EQUAL:

 

THE PARTICIPANT’S
NONFORFEITABLE
PERCENTAGE IS:

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

4 or less

 

0%

5 or more

 

100%

 

 

 

 

(iii)

New Vesting Schedule Effective January 1, 2008:

 

 

 

 

Notwithstanding the above, upon termination of Service prior to attaining his
Normal Retirement Age, the interest of a Participant in the portion of his
Normal Retirement Benefit that is derived from his Cash Balance Account, as
determined in accordance with Article 4 shall be vested in accordance with the
following schedule based on the number of Vesting Years of Service of the
Participant on the date of his termination of Service:

 

 

 

IF VESTING YEARS OF
SERVICE AS OF THE DATE OF
TERMINATION EQUAL:

 

THE PARTICIPANT’S
NONFORFEITABLE
PERCENTAGE IS:

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Less than 3

 

0%

3 or more

 

100%”

 

 

 

 

4.

Section 9.02(c)(ii) is amended in its entirety, effective January 1, 2009, to
read as follows:

 

 

 

 

 

 

“(ii)

A Participant shall be deemed to be totally and permanently disabled, for
purposes of this subsection when on the basis of medical evidence satisfactory
to the Company he is found to be wholly and permanently prevented from engaging
in any occupation or employment for wage or profit as a result of bodily injury
or disease, either occupational or non-occupational in cause, provided, however,
that no Employee shall be deemed to be totally and permanently disabled for the
purposes of the Plan if his disability resulted from an intentional
self-inflicted injury, or a hostile act of a foreign power, or resulted from
service in the Armed Forces of any country, unless his benefits could first
commence on or

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after January 1, 1989, and he has accumulated five (5) Years of Credited Service
since such hostile act or since leaving service in such Armed Forces.”

 

 

 

5.

Schedule G4 is amended effective January 1, 2008, by adding, at the end of Item
7, the following new paragraphs:

 

 

 

 

 

“$30.00 multiplied by his years of credited service on or after January 1, 2004.

 

 

 

 

 

$32.00 multiplied by his years of credited service on or after January 1, 2005.

 

 

 

 

 

$34.00 multiplied by his years of credited service on or after January 1, 2006.

 

 

 

 

 

$36.00 multiplied by his years of credited service on or after January 1, 2007.

 

 

 

 

 

$38.00 multiplied by his years of credited service on or after January 1, 2008.

 

 

 

 

 

$41.00 multiplied by his years of credited service on or after January 1, 2009.”

 

 

 

 

 

 

6.

Schedule J is amended to be updated for certain acquisitions of the
Curtiss-Wright Corporation whose Employees are eligible to participate in this
Plan:

 

 

 

a.

Paragraph 34 is added effective January 16, 2009 to read as follows:

 

 

 

 

 

“34.

Nu-Torque

 

 

 

 

 

 

 

(i)

Notwithstanding any provision in this Plan to the contrary, the following rules
shall apply to an Employee hired on January 16, 2009 whose immediate prior
service was with Nu-Torque and who was employed by such entity at such date:

 

 

 

 

 

 

 

 

 

(A)

Such an Employee shall be eligible to participate in the Plan as of his or her
date of hire, and shall remain eligible so long as he or she continues to
satisfy the eligibility requirements in Article 2.01(b)(i) and (ii), provided,
however, that such an Employee shall not accrue any benefits under the Plan,
except for benefits determined in accordance with Article 4.

 

 

 

 

 

 

 

 

 

 

(B)

For purposes of determining Vesting Years of Service, vesting service shall
commence with his or her most recent date of hire with Nu-Torque immediately
prior to its acquisition by Curtiss-Wright Corporation.

 

 

 

 

 

 

 

 

 

(ii)

Notwithstanding any provision in this Plan to the contrary, an Employee at the
operations and facilities acquired by the Employer in its acquisition of
Nu-Torque, who is not an Employee described in paragraph (a), shall be eligible
to become a Participant in accordance with Article 2.01(b), but shall not accrue
any benefits under the Plan, except for benefits determined in accordance with
Article 4.”

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b.

Paragraph 35 is added effective March 6, 2009 to read as follows:

 

 

 

 

 

 

 

 

“35.

EST Group

 

 

 

 

 

 

 

 

(a)

Notwithstanding any provision in this Plan to the contrary, the following rules
shall apply to an Employee hired on March 6, 2009 whose immediate prior service
was with EST Group and who was employed by such entity at such date:

 

 

 

 

 

 

 

 

 

 

(i)

Such an Employee shall be eligible to participate in the Plan as of July 1,
2009, and shall remain eligible so long as he or she continues to satisfy the
eligibility requirements in Article 2.01(b)(i) and (ii), provided, however, that
such an Employee shall not accrue any benefits under the Plan, except for
benefits determined in accordance with Article 4.

 

 

 

 

 

 

 

 

 

 

(ii)

For purposes of determining Vesting Years of Service, vesting service shall
commence with his or her most recent date of hire with EST Group immediately
prior to its acquisition by Curtiss-Wright Corporation.

 

 

 

 

 

 

 

 

 

(b)

Notwithstanding any provision in this Plan to the contrary, an Employee at the
operations and facilities acquired by the Employer in its acquisition of EST
Group, who is not an Employee described in paragraph (a), shall be eligible to
become a Participant in accordance with Article 2.01(b), but shall not accrue
any benefits under the Plan, except for benefits determined in accordance with
Article 4.”

 

 

 

 

 

 

 

c.

Paragraph 36 is added effective May 15, 2009 to read as follows:

 

 

 

 

 

 

 

 

“36.

Northeast Technology Corporation (NETCO)

 

 

 

 

 

 

 

 

 

(a)

Notwithstanding any provision in this Plan to the contrary, the following rules
shall apply to an Employee hired on May 15, 2009 whose immediate prior service
was with Northeast Technology Corporation (NETCO) and who was employed by such
entity at such date:

 

 

 

 

 

 

 

 

 

 

(i)

Such an Employee shall be eligible to participate in the Plan as of his or her
date of hire, and shall remain eligible so long as he or she continues to
satisfy the eligibility requirements in Article 2.01(b)(i) and (ii), provided,
however, that such an Employee shall not accrue any benefits under the Plan,
except for benefits determined in accordance with Article 4.

 

 

 

 

 

 

 

 

 

 

(ii)

For purposes of determining Vesting Years of Service, vesting service shall
commence with his or her most recent date of hire with Northeast Technology
Corporation (NETCO) immediately prior to its acquisition by Curtiss-Wright
Corporation.

 

 

 

 

 

 

 

 

 

(b)

Notwithstanding any provision in this Plan to the contrary, an Employee at the
operations and facilities acquired by the Employer in its acquisition of

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Northeast Technology Corporation (NETCO), who is not an Employee described in
paragraph (a), shall be eligible to become a Participant in accordance with
Article 2.01(b), but shall not accrue any benefits under the Plan, except for
benefits determined in accordance with Article 4.”

 

 

 

 

 

 

 

d.

Paragraph 37 is added effective June 19, 2009 to read as follows:

 

 

 

 

 

 

 

 

“37.

Modumend, Inc.

 

 

 

 

 

 

 

 

 

(a)

Notwithstanding any provision in this Plan to the contrary, the following rules
shall apply to an Employee hired on June 19, 2009 whose immediate prior service
was with Modumend, Inc. and who was employed by such entity at such date:

 

 

 

 

 

 

 

 

 

 

(i)

Such an Employee shall be eligible to participate in the Plan as of his or her
date of hire, and shall remain eligible so long as he or she continues to
satisfy the eligibility requirements in Article 2.01(b)(i) and (ii), provided,
however, that such an Employee shall not accrue any benefits under the Plan,
except for benefits determined in accordance with Article 4.

 

 

 

 

 

 

 

 

 

 

(ii)

For purposes of determining Vesting Years of Service, vesting service shall
commence with his or her most recent date of hire with Modumend, Inc.
immediately prior to its acquisition by Curtiss-Wright Corporation.

 

 

 

 

 

 

 

 

 

(b)

Notwithstanding any provision in this Plan to the contrary, an Employee at the
operations and facilities acquired by the Employer in its acquisition of
Modumend, Inc., who is not an Employee described in paragraph (a), shall be
eligible to become a Participant in accordance with Article 2.01(b), but shall
not accrue any benefits under the Plan, except for benefits determined in
accordance with Article 4.”

The EMD component of the Plan is amended, effective January 1, 2008, in the
following respects:

 

 

1.

Paragraph 29 of section 1 is amended in its entirety to read as follows:

 

 

 

“‘Non-Vested Employee’ means an Employee who has less than 5 years of
Eligibility Service. If the Employee is eligible for a Cash Balance benefit
under Article 4 of the Curtiss-Wright Corporation Retirement Plan, ‘Non-Vested
Employee’ means an Employee who has less than 3 years of Eligibility Service.”

 

 

2.

Paragraph 40 of Section 1 is amended in its entirety to read as follows:

 

 

 

“‘Vested Employee’ means an Employee who has completed 5 years or more of
Eligibility Service, or a former Employee who satisfied the vesting requirements
of the Plan or the Predecessor Plan which were in effect at the time he ceased
to accrue Eligibility Service, provided this sentence shall be effective
September 1, 1988. If the Employee is eligible for a Cash Balance benefit under
Article 4 of the Curtiss-Wright

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Corporation Retirement Plan, ‘Vested Employee’ means an Employee who has
completed 3 years or more of Eligibility Service.”

Except to the extent amended by this Instrument of Amendment, the Plan shall
remain in full force and effect.

IN WITNESS WHEREOF, this amendment has been executed on this _____ day of
____________________, 2009.

 

 

 

 

 

Curtiss-Wright Corporation

 

 

Administrative Committee

 

 

By:

 

 

 

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Date:

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