Document:

Exhibit 10.35

 

Exhibit 10.35

AMENDMENT NUMBER 2

TO THE

GOODRICH CORPORATION SEVERANCE PROGRAM

     THIS AMENDMENT is made this 1st day of November, 2006, by Goodrich Corporation (hereinafter
referred to as the “Company”);

W I T N E S S E T H

     WHEREAS, the Company maintains the Goodrich Corporation Severance Program, as amended and
restated, effective February 21, 2006 (hereinafter referred to as the “Plan”);

     WHEREAS, pursuant to Section 10 of the Plan, the Chief Executive Officer of the Company has
the authority to amend the exhibits to the Plan; and

     WHEREAS, the Chief Executive Officer desires to include the employees of Sensors Unlimited,
Inc. as Eligible Employees, as that term is defined in the Plan, by amending Exhibit A to the Plan.

     NOW, THEREFORE, the Chief Executive Officer hereby amends Exhibit A to the Plan as set forth
in the attached revision to Exhibit A effective for any Qualifying Termination, as that term is
defined in the Plan, that occurs on or after November 1, 2006.

     IN WITNESS WHEREOF, the Company, by its Chief Executive Officer, has caused this Amendment to
be executed as of the day and year first above written.

	 	 	 	 	 
	 	GOODRICH CORPORATION

 	 
	 	By:  	
 	 
	 	 	Marshall O. Larsen, Chief Executive Officer 	 
	 	 	 	 
	 

 

 

Exhibit A

To Goodrich Corporation Severance Program

     List of Domestic Subsidiaries Not Covered by the Goodrich Corporation Severance Program

Employees of the following domestic subsidiaries shall not be considered “Eligible Employees” under
the Severance Program.

	 	 	 
	Companies
	 	Place of

Incorporation
	 
	 	 

Revised November 1, 2006Exhibit 10.47

 

Exhibit 10.47

AMENDMENT NUMBER ONE

TO THE

GOODRICH CORPORATION OUTSIDE DIRECTOR DEFERRAL PLAN

(Approved By The Board Of Directors On December 12, 2006)

          THIS AMENDMENT is made this 12th day of December, 2006, by Goodrich Corporation
(hereinafter referred to as the “Company”);

W I T N E S S E T H

          WHEREAS, the Company maintains the Goodrich Corporation Outside Director Deferral Plan, as
approved by the Board of Directors on December 7, 2004 (hereinafter referred to as the “Plan”); and

          WHEREAS, pursuant to Paragraph 7 of the Plan, the Board of Directors of the Company has
maintained the right to amend the Plan from time to time;

          WHEREAS, the Board of Directors of the Company has taken action authorizing this Amendment to
the Plan; and

          NOW, THEREFORE, the Plan is hereby amended as follows:

          Effective January 1, 2005, the following sentence shall be added to the end of Paragraph 11:

“Notwithstanding any other provisions of the Plan herein to the contrary and, to
the extent applicable, the Plan shall be interpreted, construed and administered
(including with respect to any amendment, modification or termination of the Plan)
in such manner so as to comply with the provisions of Section 409A of the Internal
Revenue Code of 1986, as amended, and any related Internal Revenue Service guidance
promulgated thereunder.”

          IN WITNESS WHEREOF, the Company, by its duly authorized officer, has caused this Amendment to
be executed as of the day and year first above written.

	 	 	 	 	 
	 	GOODRICH CORPORATION

 	 
	 	By:  	 	 
	 	 	Title:Exhibit 10.49

 

Exhibit 10.49

AMENDMENT NUMBER ONE

TO THE

GOODRICH CORPORATION OUTSIDE DIRECTOR PHANTOM SHARE PLAN

(Approved By The Board Of Directors On December 12, 2006)

          THIS AMENDMENT is made this 12th day of December, 2006, by Goodrich Corporation
(hereinafter referred to as the “Company”);

W I T N E S S E T H

          WHEREAS, the Company maintains the Goodrich Corporation Outside Director Phantom Share Plan,
as approved by the Board of Directors on December 7, 2004 (hereinafter referred to as the “Plan”);
and

          WHEREAS, pursuant to Paragraph 7 of the Plan, the Board of Directors of the Company has
maintained the right to amend the Plan from time to time;

          WHEREAS, the Board of Directors of the Company has taken action authorizing this Amendment to
the Plan; and

          NOW, THEREFORE, the Plan is hereby amended as follows:

          Effective January 1, 2005, Paragraph 11, 409A Compliance, shall be added to the Plan after
Paragraph 10 and shall read as follows:

          “11. 409A Compliance.

          Notwithstanding any other provisions of the Plan herein to the contrary and, to the extent
applicable, the Plan shall be interpreted, construed and administered (including with respect to
any amendment, modification or termination of the Plan) in such manner so as to comply with the
provisions of Section 409A of the Internal Revenue Code of 1986, as amended, and any related
Internal Revenue Service guidance promulgated thereunder.”

 

 

          IN WITNESS WHEREOF, the Company, by its duly authorized officer, has caused this Amendment to
be executed as of the day and year first above written.

	 	 	 	 	 
	 	GOODRICH CORPORATION

 	 
	 	By:  	 	 
	 	 	Title: 	 	 
	 

2Exhibit 10.50

 

Exhibit 10.50

Compensation Arrangements for the Named Executive Officers

Set forth below is a summary of the compensation paid by Goodrich Corporation (the “Company”) to
its named executive officers (defined in Regulation S-K Item 402(a)(3)) in their current positions
as of the date of filing of the Company’s Annual Report on Form 10-K for the year ended December
31, 2006 (the “Form 10-K”). All of the Company’s executive officers are at-will employees whose
compensation and employment status may be changed at any time in the discretion of the Company’s
Board of Directors, subject only to the terms of the Management Continuity Agreements between the
Company and these executive officers, the form of which is filed as Exhibit 10.36 to the Form 10-K.

Base Salary. Effective January 1, 2007, the named executive officers are to receive the following
annual base salaries in their current positions:

	 	 	 	 	 
	Name and Current Position	 	Base Salary ($)
	Marshall O. Larsen

(Chairman, President and Chief Executive Officer)
	 	$	1,030,000	 
	Scott E. Kuechle

(Senior Vice President and Chief Financial Officer)
	 	$	420,000	 
	John J. Grisik

(Executive Vice President, Operational Excellence and Technology
	 	$	492,000	 
	Terrence G. Linnert

(Executive Vice President, Administration and General Counsel)
	 	$	487,000	 
	John J. Carmola

(Vice President and Segment President, Actuation & Landing Systems)
	 	$	485,000	 

Annual and Long-Term Incentive Plans. In their current positions, the named executive officers
are eligible to:

	•	 	Receive an annual cash incentive award pursuant to the Senior
Executive Management Incentive Plan (filed as Exhibits 10.27 and
10.28 to the Form 10-K).

	•	 	Participate in the Company’s long-term incentive program, which
currently involves the award of restricted stock units, stock
options and performance units pursuant to the Company’s 2001
Equity Compensation Plan (filed as Exhibits 10.11 and 10.12 to the
Form 10-K).

165

 

Benefit Plans and Other Arrangements. In their current positions, the named executive officers are
eligible to:

	•	 	Participate in the Company’s broad-based benefit programs
generally available to its salaried employees, including health,
disability and life insurance programs, qualified 401(k) and
pension plans and a severance plan.

	•	 	Participate in non-qualified 401(k) and pension plans (filed as
Exhibits 10.31 and 10.32 to the Form 10-K), a supplemental
executive retirement plan (the form of which is filed as Exhibit
10.30 to the Form 10-K), a management continuity agreement that
takes effect upon a change in control of the Company (the form of
which is filed as Exhibit 10.36 to the Form 10-K).

	•	 	In the case of Mr. Larsen, Mr. Grisik and Mr. Linnert, receive a
disability benefit agreement (the form of which is filed as
Exhibit 10.29 to the Form 10-K).

	•	 	Receive certain perquisites offered by the Company, including an
automobile allowance, automobile and umbrella liability insurance,
financial counseling and tax preparation, club memberships, annual
physical examinations for the executive and spouse, cellular
telephone service, long-distance telephone service for the
executive and family, and, in certain cases, home security systems
and use of the Company’s aircraft for personal use. Executives
receive a tax gross-up equal to 100% of the amounts paid by the
Company on their behalf with respect to the automobile allowance,
umbrella liability insurance, financial counseling and tax
preparation, club initiation fees and certain life insurance
programs.

166Exhibit 10.51

 

Exhibit 10.51

Compensation Arrangements For Non-Management Directors

Annual Retainer and Meeting Fees

Each of the non-management Directors of Goodrich Corporation (the “Company”) receives an annual
retainer of $50,000, payable in quarterly installments. In addition, each non-management Director
receives $1,500 for each Board and Board Committee meeting attended. The chairs of the Governance
Committee, the Compensation Committee and the Financial Policy Committee each receive an annual
$5,000 retainer for serving as the Committee Chair and the Chair of the Audit Review Committee
receives an annual $10,000 retainer.

Outside Directors’ Deferral Plan

Non-management Directors may elect to defer annual retainer and meeting fees under the Outside
Directors’ Deferral Plan (filed as Exhibit 10(KK) to the Company’s Annual Report on Form 10-K for
the year ended December 31, 2005). The Outside Directors’ Deferral Plan permits non-management
Directors to elect to defer a portion or all of the annual retainer and meeting fees into either a
phantom share account or a cash account. Amounts deferred into the phantom share account accrue
dividend equivalents, and amounts deferred into the cash account accrue interest at the prime rate.
The plan provides that amounts deferred into the phantom share account are paid out in shares of
Company Common Stock, and amounts deferred into the cash account are paid out in cash, in each case
following termination of service as a Director in either a single lump sum, five annual
installments or ten annual installments.

Directors’ Phantom Share Plan

The Outside Directors’ Phantom Share Plan (filed as Exhibit 10(LL) to the Annual Report on Form
10-K for the year ended December 31, 2005) provides for an annual grant of phantom shares to each
non-management Director equal in value to $60,000. Dividend equivalents accrue on all phantom
shares credited to a Director’s account. All phantom shares are fully vested on the date of grant.
Following termination of service as a Director, the cash value of the vested number of phantom
shares will be paid to each Director in either a single lump sum, five annual installments or ten
annual installments. The value of each phantom share is determined on the relevant date by the fair
market value of Company Common Stock (as defined in the plan).

167

 

Directors’ Retirement Plan

One of the Company’s non-management Directors (Mr. Rankin) participates in the 1982 Directors’
Retirement Plan, which was terminated in 1995. The plan provided that, upon retirement from the
Board of Directors after reaching the age of 55 with at least ten years of service as a Director,
any non-management Director would be entitled to receive an annual amount equal to the annual
retainer in effect at retirement. A retiring Director who had reached age 55 and served for at
least five but less than ten years would be entitled to a reduced amount equal to 50% of the annual
retainer in effect at retirement, plus 10% of such annual retainer for each additional year of
service (rounded to the nearest whole year) up to ten. Under the transition provisions of the plan,
upon his retirement Mr. Rankin will be entitled to receive an annual amount under the plan equal to
70% of the annual retainer in effect at retirement.

Other

Non-management Directors are reimbursed for actual expenses incurred in the performance of their
services as Directors and, in most instances, provided with travel via Company-provided private
aircraft to Board of Directors and committee meetings. The Company also maintains $250,000 in
business travel accident insurance coverage for each non-management Director.

168

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}]]