Document:

Ex-10(MM)

 

Exhibit 10(MM)

GOODRICH CORPORATION

OUTSIDE DIRECTOR DEFERRAL PLAN

(Approved by the Board of Directors on December 7, 2004)

1. Name.

This plan shall be known as the “Goodrich Corporation Outside Director Deferral Plan” (the “Plan”).

2. Purpose and Intent.

The purpose of the Plan is to provide Outside Directors with the opportunity to defer some or all
of their compensation received as directors of the Company. It is the intent of the Company that
amounts deferred under the Plan by an Outside Director shall not be taxable to the Outside Director
for income tax purposes until the time actually received by the Outside Director. The provisions
of the Plan shall be construed and interpreted to effectuate such intent.

3. Effective Date.

This Plan is adopted and effective for deferrals of Cash Compensation earned for calendar years
beginning on or after January 1, 2005.

4. Definitions.

For purposes of the Plan, the following terms shall have the following meanings:

"Accounts” of a Participant mean collectively the Participant’s Cash Accounts and Phantom Share
Accounts.

"Annual Retainer Fee” means the annual cash retainer fee payable to Outside Directors for their
services as directors of the Company.

"Board” means the Board of Directors of the Company.

"Cash Account” means an account maintained in United States dollars on the books of the Company to
record a Participant’s interest under the Plan attributable to any Cash Compensation deferred by
the Participant into a Cash Account pursuant to paragraph 6(c)(ii) below, as adjusted from time to
time pursuant to the terms of the Plan.

"Cash Compensation” means the Annual Retainer Fee and Meetings Fees.

"Common Stock” means the common stock, par value $5.00 per share, of the Company.

“Company” means Goodrich Corporation, a New York corporation.

 

 

"Fair Market Value” of a share of Common Stock on any date means the mean of the high and low
prices of a share of Common Stock as reflected in the report of composite trading of New York Stock
Exchange listed securities for that day (or, if no shares were publicly traded on that day, the
immediately preceding day that shares were so traded) published in The Wall Street Journal (Eastern
Edition) or in any other publication selected by the Plan Administrator; provided, however, that if
the shares are misquoted or omitted by the selected publication(s), the Plan Administrator shall
directly solicit the information from officials of the stock exchanges or from other informed
independent market sources.

"Meetings Fees” means the fees payable to an Outside Director for attendance at meetings of the
Board and meetings of committees of the Board on which the Outside Director serves.

"Outside Director” means an individual who is a member of the Board, but who is not (a) an employee
of the Company or any of its subsidiaries or (b) a former employee of the Company or any of its
subsidiaries whose employment with the Company or any of its subsidiaries terminated within the
immediately preceding five years.

"Participant” means an Outside Director who has elected to participate in the Plan as provided in
paragraph 6(b) below.

"Phantom Share” means a unit having a value as of a given date equal to the Fair Market Value of
one (1) share of Common Stock on such date.

"Phantom Share Account” means an account maintained in Phantom Shares on the books of the
Company to record a Participant’s interest under the Plan attributable to any Cash Compensation
deferred by the Participant into a Phantom Share Account pursuant to paragraph 6(c)(ii) below, as
adjusted from time to time pursuant to the terms of the Plan.

“Plan” has the meaning specified in paragraph 1 hereof.

“Plan Administrator” means the Company, or such other person or entity designated as the “Plan
Administrator” for purposes of the Plan by the Board.

"Plan Year” means the twelve (12) month period beginning January 1 and ending December 31.

5. Administration.

The Plan Administrator shall be responsible for administering the Plan. The Plan Administrator
shall have all of the powers necessary to enable it to properly carry out its duties under the
Plan. Not in limitation of the foregoing, the Plan Administrator shall have the power to construe
and interpret the Plan and to determine all questions that shall
arise hereunder. The Plan Administrator shall have such other and further specified duties, powers, authority and discretion
as are elsewhere in the Plan either expressly or by necessary implication conferred upon it. The
Plan Administrator may appoint such agents as it may deem necessary for the effective performance
of its duties, and may delegate to such agents such powers and duties as the Plan

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Administrator may
deem expedient or appropriate that are not inconsistent with the intent of the Plan. The decision
of the Plan Administrator upon all matters within its scope of authority shall be final and
conclusive on all persons, except to the extent otherwise provided by law.

6. Operation.

(a) Eligibility. Each Outside Director shall be eligible to participate in the Plan.

(b) Elections to Defer. An Outside Director may become a Participant in the Plan for a Plan
Year by irrevocably electing, on a form provided by the Plan Administrator, to defer all or any
portion of the Annual Retainer Fee and any Meetings Fees earned during the Plan Year, with separate
deferral elections to be made for each. In order to be effective, an Outside Director’s election
to defer must be executed and returned to the Plan Administrator on or before the date specified by
the Plan Administrator for such purpose. Such election must normally be made prior to the
beginning of the Plan Year to which the election relates. However, the Plan Administrator, in its
sole and exclusive discretion, may determine that in certain circumstances an election may be made
during a Plan Year if such determination is not inconsistent with the intent of the Plan expressed
in paragraph 2 above.

(c) Establishment of Accounts.

     (i) The Company shall establish and maintain on its books for each Participant a Cash
Account and a Phantom Share Account for each payment option that has been elected by such
Participant pursuant to paragraph 6(f) below. Each Account shall be designated by the name of the
Participant for whom established and by the applicable payment option.

     (ii) Any Cash Compensation deferred by a Participant shall be credited to a Cash Account or
Phantom Share Account as the Participant shall elect pursuant to paragraph 6(b) above. A separate
election directing deferral to a Cash Account or Phantom Share Account shall be permitted with
respect to each separate component of Cash Compensation being deferred. If no election is made,
any Cash Compensation deferred shall be credited to a Cash Account. To the extent any Cash
Compensation is to be credited to a Cash Account, such amounts shall be credited to such Cash
Account as of the date the amounts would have otherwise been paid to the Participant. To the
extent any Cash Compensation is to be credited to a Phantom Share Account, such Phantom Share
Account shall be credited as of the date the amounts would have otherwise been paid to the
Participant with the number of Phantom Shares equal to the dollar amount of the deferral divided by
the Fair Market Value of a share of Common Stock on such date.

(d) Account Adjustments: Cash Account. As of the last day of each calendar month, each Cash
Account shall be adjusted for such month so that the level of investment return of such
Cash Account shall be substantially equal to the “prime rate” of interest, as quoted for the last
business day of the immediately preceding calendar month in the “Money Rates” section of the Wall
Street Journal (Eastern Edition), or if such quotations are not available in the Wall Street
Journal, in a similar financial publication selected by the Plan Administrator.

(e) Account Adjustments: Phantom Share Account. Each Phantom Share Account shall be

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credited additional full or fractional Phantom Shares for cash dividends paid on the Common Stock based on
the number of Phantom Shares in such Phantom Share Account on the applicable dividend record date
and calculated based on the Fair Market Value of the Common Stock on the applicable dividend
payment date. Each Phantom Share Account shall also be equitably adjusted as determined by the
Plan Administrator in the event of any stock dividend, stock split or similar change in the
capitalization of the Company.

(f) Payment Options. At the time a Participant makes an election to defer under the Plan for
a Plan Year, the Participant shall be given the opportunity to elect one of the following payment
options with respect to amounts deferred for such Plan Year: (i) single payment, (ii) five (5)
annual installments or (iii) ten (10) annual installments. The election shall be made in writing on
a form provided by the Plan Administrator and must be returned to the Plan Administrator before the
date specified by the Plan Administrator. Such election shall be effective with respect to all
amounts deferred under the Plan for such Plan Year, including any adjustments to such amounts
pursuant to paragraph 6(d) and paragraph 6(e) above. If a Participant fails to duly elect a payment
option for a Plan Year, the method of payment shall be the single payment. No additional payment
option elections may be submitted.

(g) Single Payment. If a Participant terminates service with the Company as a member of the
Board, such Participant’s Accounts for which the single payment method applies shall continue to be
credited with adjustments under paragraph 6(d) and paragraph 6(e) above, as applicable, through the
last day of the calendar month in which such termination of services occurred.

     (i) In the case of a Phantom Share Account for which the single payment method applies, the
number of Phantom Shares in such Phantom Share Account as of such date shall be converted to Common
Stock and such shares shall be paid in a single payment to the Participant (or, in the event of the
Participant’s death, to the Participant’s designated beneficiary) by the last day of the following
calendar month.

     (ii) In the case of a Cash Account for which the single payment method applies, the cash
balance in such Cash Account as of such date shall be paid in a single payment to the Participant
(or, in the case of the Participant’s death, to the Participant’s designated beneficiary) by the
last day of the following calendar month.

(h) Annual Installments. If a Participant to whom the annual installments method applies
terminates service with the Company as a member of the Board, the amount of such annual
installments shall be calculated and paid pursuant to the provisions of this paragraph 6(h). The
Participant’s Accounts for which the annual installments method applies shall continue to be
credited with adjustments under paragraph 6(d) and paragraph 6(e) above, as applicable, until the
relevant Accounts are fully paid out. The first installment shall be paid by January 31 of the
calendar year immediately following the calendar year in which such termination of services
occurred, and each subsequent installment shall be paid by January 31 of each subsequent calendar
year. In the event of the Participant’s death, any remaining annual installments shall be paid to
the Participant’s designated beneficiary. The amount of each payment from the Accounts for which
the annual installments method applies shall be calculated as follows:

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     (i) Each payment from a Cash Account shall be made in cash and be equal to (x) the sum of the
Participant’s balance in such Cash Account as of December 31 of the calendar year immediately
preceding the calendar year of payment, multiplied by (y) a fraction, the numerator of which is one
and the denominator is the number of installments remaining, including the current year’s payment.

     (ii) Each payment from a Phantom Share Account shall be made in Common Stock and be equal to
(x) the sum of the Participant’s balance in such Phantom Share Account as of December 31 of the
calendar year immediately preceding the calendar year of payment, multiplied by (y) a fraction, the
numerator of which is one and the denominator is the number of installments remaining, including
the current year’s payment.

(i) Other Payment Provisions. A Participant shall not be paid any portion of the
Participant’s Accounts prior to the Participant’s termination of service as a member of the Board.
Any payment hereunder shall be subject to applicable payroll and withholding taxes. If any amount
becomes payable under the provisions of the Plan to a Participant, beneficiary or other person who
is a minor or an incompetent, whether or not declared incompetent by a court, such amount may be
paid directly to the minor or incompetent person or to such person’s legal representative (or
attorney-in-fact in the case of an incompetent) as the Plan Administrator, in its sole discretion,
may decide, and the Plan Administrator shall not be liable to any person for any such decision or
any payment pursuant thereto. Each Participant shall designate a beneficiary under the Plan on a
form furnished by the Plan Administrator, and if a Participant does not have a beneficiary
designation in effect, the designated beneficiary shall be the Participant’s estate.

(j) Statements of Account. Each Participant shall receive an annual statement of the balances
in the Participant’s Accounts.

7. Amendment and Termination of the Plan.

The Board shall have the right and power at any time and from time to time to amend the Plan in
whole or in part and at any time to terminate the Plan; provided, however, that no such amendment
or termination shall reduce the amount actually credited to a Participant’s Accounts under the Plan
on the date of such amendment or termination, or further defer the due dates for the payment of
such amounts, without the consent of the affected Participant.

8. Applicable Law.

The Plan shall be construed, administered, regulated and governed in all respects under and by
the laws of the United States to the extent applicable, and to the extent such laws are not
applicable, by the laws of the State of New York.

9. Non-Assignability.

None of the rights or interests in any of the Participant’s Accounts shall, at any time prior to
actual payment or distribution pursuant to the Plan, be assignable or transferable in whole or in
part, either voluntarily or by operation of law or otherwise, and such rights and interest shall
not

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be subject to payment of debts by execution, levy, garnishment, attachment, pledge, bankruptcy
or in any other manner.

10. Interest of Participant.

The Company shall be under no obligation to segregate or reserve any funds or other assets for
purposes relating to the Plan and, except as set forth in the Plan, no Participant shall have any
rights whatsoever in or with respect to any funds or other assets held by the Company for purposes
of the Plan or otherwise. Each Participant’s Accounts maintained for purposes of the Plan merely
constitute bookkeeping entries on records of the Company, constitute the unsecured promise and
obligation of the Company to make payments as provided herein, and shall not constitute any
allocation whatsoever of any cash, shares or other assets of the Company or be deemed to create any
trust or special deposit with respect to any of the Company’s assets. Notwithstanding the
foregoing provisions, nothing in this Plan shall preclude the Company from setting aside Common
Stock or funds in trust pursuant to one or more trust agreements between a trustee and the Company.
However, no Participant shall have any secured interest or claim in any assets or property of the
Company or any such trust and all Common Stock or funds contained in such trust shall remain
subject to the claims of the Company’s general creditors.

11. Compliance with Laws and Regulations.

Notwithstanding any other provisions of the Plan, the issuance or delivery of any shares of Common
Stock may be postponed for such period as may be required to comply with any applicable
requirements of any national securities exchange or any requirements under any other law or
regulation applicable to the issuance or delivery of such shares, and the Company shall not be
obligated to issue or deliver any such shares if the issuance or delivery thereof shall constitute
a violation of any provision of any law or any regulation of any governmental authority, whether
foreign or domestic, or any national securities exchange.

6Ex-10(NN)

 

Exhibit 10(NN)

GOODRICH CORPORATION

OUTSIDE DIRECTOR PHANTOM SHARE PLAN

(Approved by the Board of Directors on December 7, 2004)

1. Name.

This plan shall be known as the “Goodrich Corporation Outside Director Phantom Share Plan” (the
“Plan”).

2. Purpose and Intent.

The purpose of the Plan is to provide Outside Directors with compensation in the form of Phantom
Shares for their services as Outside Directors. It is the intent of the Company that amounts
credited to an Outside Director under the Plan shall not be taxable to such Outside Director for
income tax purposes until the time actually received by such Outside Director. The provisions of
the Plan shall be construed and interpreted to effectuate such intent.

3. Effective Date.

This Plan is adopted and effective for Phantom Share Awards earned for calendar years beginning on
or after January 1, 2005.

4. Definitions.

For purposes of the Plan, the following terms shall have the following meanings:

"Account” means an account maintained in Phantom Shares on the books of the Company to record a
Participant’s interest under the Plan attributable to any Phantom Share Awards to such Participant
pursuant to paragraph 6(b) below, as adjusted from time to time pursuant to the terms of the Plan.

"Board” means the Board of Directors of the Company.

“Board Service Anniversary Date” means, for each Outside Director, the date of each Annual Meeting
of Shareholders.

"Common Stock” means the common stock, par value $5.00 per share, of the Company.

“Company” means Goodrich Corporation, a New York corporation.

"Fair Market Value” of a share of Common Stock on any date means the mean of the high an low prices
of a share as reflected in the report of composite trading of New York Stock Exchange listed
securities for that day (or, if no shares were publicly traded on that day, the

 

 

immediately preceding day that shares were so traded) published in The Wall Street Journal (Eastern Edition) or
in any other publication selected by the Plan Administrator; provided, however, that if the shares
are misquoted or omitted by the selected publication(s), the Plan Administrator shall directly
solicit the information from officials of the stock exchanges or from other informed independent
market sources.

"Outside Director” means an individual who is a member of the Board, but who is not (a) an employee
of the Company or any of its subsidiaries or (b) a former employee of the Company or any of its
subsidiaries whose employment with the Company or any of its subsidiaries terminated within the
immediately preceding five years.

"Participant” means an Outside Director who participates in the Plan as provided in paragraph 6(a)
below.

"Phantom Share” means a unit having a value as of a given date equal to the Fair Market Value of
one (1) share of Common Stock on such date.

“Phantom Share Award” has the meaning specified in paragraph 6(b) hereof.

“Plan” has the meaning specified in paragraph 1 hereof.

“Plan Administrator” means the Company, or such other person or entity designated as the “Plan
Administrator” for purposes of the Plan by the Board.

“Plan Year” means the twelve (12) month period beginning January 1 and ending December 31.

5. Administration.

The Plan Administrator shall be responsible for administering the Plan. The Plan Administrator
shall have all of the powers necessary to enable it to properly carry out its duties under the
Plan. Not in limitation of the foregoing, the Plan Administrator shall have the power to construe
and interpret the Plan and to determine all questions that shall arise hereunder. The Plan
Administrator shall have such other and further specified duties, powers, authority and discretion
as are elsewhere in the Plan either expressly or by necessary implication conferred upon it. The
Plan Administrator may appoint such agents as it may deem necessary for the effective performance
of its duties, and may delegate to such agents such powers and duties as the Plan Administrator may
deem expedient or appropriate that are not inconsistent with the intent of the Plan. The decision
of the Plan Administrator upon all matters within its scope of authority shall be final and
conclusive on all persons, except to the extent otherwise provided by law.

6. Operation.

(a) Eligibility. Each Outside Director shall be eligible to participate in the Plan.

(b) Phantom Share Awards. On each Board Service Anniversary Date, each Outside Director

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shall receive an annual grant of Phantom Shares (each, a “Phantom Share Award”) equal in number to (i)
$60,000, divided by (ii) the Fair Market Value of a share of Common Stock on such date. All
Phantom Shares awarded under the Plan shall be fully vested on the date of grant.

(c) Establishment of Account. The Company shall establish and maintain on its books for each
Participant an Account for each payment option that has been elected by such Participant pursuant
to paragraph 6(e) below. Each Account shall be designated by the name of the Participant for whom
established and by the applicable payment option. Each Phantom Share Award to a Participant shall
be credited to the appropriate Account as of the date of such award.

(d) Account Adjustments. Each Account shall be credited additional full or fractional Phantom
Shares for cash dividends paid on the Common Stock based on the number of Phantom Shares in such
Account on the applicable dividend record date and calculated based on the Fair Market Value of the
Common Stock on the applicable dividend payment date. Each Account shall also be equitably
adjusted as determined by the Plan Administrator in the event of any stock dividend, stock split or
similar change in the capitalization of the Company.

(e) Payment Options. Prior to the first day of each Plan Year, , each Participant shall be
given the opportunity to elect one of the following payment options with respect to Phantom Share
Awards earned in such Plan Year: (i) single payment, (ii) five (5) annual installments or (iii) ten
(10) annual installments. The election shall be made in writing on a form provided by the Plan
Administrator and must be returned to the Plan Administrator before the date specified by the Plan
Administrator. Such election shall be effective with respect to all Phantom Share Awards earned in
such Plan Year, including any adjustments to such award amounts pursuant to paragraph 6(d) above.
If a Participant fails to duly elect a payment option for a Plan Year, the method of payment shall
be the single payment. No additional payment option elections may be submitted.

(f) Single Payment. If a Participant to whom the single payment method applies terminates
service with the Company as a member of the Board, such Participant’s Account for which the single
payment method applies shall continue to be credited with adjustments under paragraph 6(d) above
through the last day of the calendar month in which such termination of services occurred. The
number of Phantom Shares in the Account as of such date shall be converted to cash based on the
Fair Market Value of the Common Stock on such date, and such cash shall be paid in a single payment
to the Participant (or to the Participant’s designated beneficiary in the case of the Participant’s
termination of service as the result of the Participant’s death) by the last day of the following
calendar month.

(g) Annual Installments. If a Participant to whom the annual installments method applies
terminates service with the Company as a member of the Board, the amount of such annual
installments shall be calculated and paid pursuant to the provisions of this paragraph 6(g). The
Participant’s Accounts for which the annual installments method applies shall continue to be
credited with adjustments under paragraph 6(d) until the Accounts are fully paid out. The first
installment shall be paid by January 31 of the calendar year immediately following the calendar
year in which such termination of services occurred, and each subsequent installment shall be paid
by January 31 of each subsequent calendar year. In the event of the Participant’s death, any

3

 

remaining annual installments shall be paid to the Participant’s designated beneficiary. Each
payment from an Account shall be made in cash and be equal to (x) the sum of the Participant’s
balance in such Account as of December 31 of the calendar year immediately preceding the calendar
year of payment, multiplied by (y) a fraction, the numerator of which is one and the denominator is
the number of installments remaining, including the current year’s payment. For purposes of the
preceding sentence, the balance of an Account shall be equal to the number of Phantom Shares in the
account as of such December 31 multiplied by the Fair Market Value of the Common Stock on such
date.

(h) Other Payment Provisions. A Participant shall not be paid any portion of the
Participant’s Accounts prior to the Participant’s termination of service as a member of the Board.
Any payment hereunder shall be subject to applicable payroll and withholding taxes. If any amount
becomes payable under the provisions of the Plan to a Participant, beneficiary or other person who
is a minor or an incompetent, whether or not declared incompetent by a court, such amount may be
paid directly to the minor or incompetent person or to such person’s legal representative (or
attorney-in-fact in the case of an incompetent) as the Plan Administrator, in its sole discretion,
may decide, and the Plan Administrator shall not be liable to any person for any such decision or
any payment pursuant thereto. Each Participant shall designate a beneficiary under the Plan on a
form furnished by the Plan Administrator, and if a Participant does not have a beneficiary
designation in effect, the designated beneficiary shall be the Participant’s estate.

(i) Statements of Account. Each Participant shall receive an annual statement of the balances
in the Participant’s Accounts.

7. Amendment and Termination of the Plan.

The Board shall have the right and power at any time and from time to time to amend the Plan in
whole or in part and at any time to terminate the Plan; provided, however, that no such amendment
or termination shall reduce the amount actually credited to a Participant’s Accounts under the Plan
on the date of such amendment or termination, or further defer the due dates for the payment of
such amounts, without the consent of the affected Participant.

8. Applicable Law.

The Plan shall be construed, administered, regulated and governed in all respects under and by the
laws of the United States to the extent applicable, and to the extent such laws are not applicable,
by the laws of the State of New York.

9. Non-Assignability.

None of the rights or interests in the Participant’s Accounts shall, at any time prior to actual
payment or distribution pursuant to the Plan, be assignable or transferable in whole or in part,
either voluntarily or by operation of law or otherwise, and such rights and interest shall not be
subject to payment of debts by execution, levy, garnishment, attachment, pledge, bankruptcy or in
any other manner.

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10. Interest of Participant.

The Company shall be under no obligation to segregate or reserve any funds or other assets for
purposes relating to the Plan and, except as set forth in the Plan, no Participant shall have any
rights whatsoever in or with respect to any funds or other assets held by the Company for purposes
of the Plan or otherwise. Each Participant’s Accounts maintained for purposes of the Plan merely
constitute bookkeeping entries on records of the Company, constitute the unsecured promise and
obligation of the Company to make payments as provided herein, and shall not constitute any
allocation whatsoever of any cash or other assets of the Company or be deemed to create any trust
or special deposit with respect to any of the Company’s assets. Notwithstanding the foregoing
provisions, nothing in this Plan shall preclude the Company from setting aside funds or other
assets in trust pursuant to one or more trust agreements between a trustee and the Company.
However, no Participant shall have any secured interest or claim in any assets or property of the
Company or any such trust and all funds or other assets contained in such trust shall remain
subject to the claims of the Company’s general creditors.

5

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