Document:

Exh 10.3 - Form of Non-Employee Director Agt

Exhibit 10.3

NON-EMPLOYEE DIRECTOR
ANNUAL SHARE INCENTIVE GRANT AGREEMENT
PURSUANT TO THE SEACOR HOLDINGS INC.
2014 SHARE INCENTIVE PLAN

THIS ANNUAL SHARE INCENTIVE GRANT AGREEMENT (this “Agreement”) is made and entered into effective as of [________], 20[__] (the “Grant Date”) by and between SEACOR Holdings Inc. (the “Company”), and [____________________] (the “Grantee”) pursuant to the terms and conditions of the SEACOR Holdings Inc. 2014 Share Incentive Plan (and, as amended, modified or supplemented from time to time, the “Plan”).

1.  STOCK OPTION AWARD.

(a)    Stock Option Grant.  On the terms and conditions set forth in this Agreement and the Plan, the Company grants to the Grantee on the Grant Date options to purchase a total of [________] Shares (the “Stock Options”) at the Exercise Price set forth below.  The Stock Options to be granted pursuant hereto shall not be Incentive Stock Options.

-------------------------------- --------------------------------------------
Shares                  [____]
-------------------------------- --------------------------------------------
-------------------------------- --------------------------------------------
“Exercise Price”            $[____]
-------------------------------- --------------------------------------------
-------------------------------- --------------------------------------------

Vesting: The Stock Options shall vest and become exercisable upon the earlier of:  (A) the first anniversary of the Grant Date and (B) the date of the first annual meeting of the stockholders of the Company after the Grant Date, provided that the Grantee continues to serve as a director of the Company on such date.

VESTING ACCELERATOR: The Stock Options shall become 100% vested and immediately exercisable in the event of the termination of the service of a Grantee by reason of Disability, death, or voluntary retirement from the Company under acceptable circumstances as determined by the Board in its sole discretion.  
-------------------------------- --------------------------------------------

(b)    Payment of Exercise Price.  The Exercise Price may be paid in cash or, in the discretion of the Board, by the delivery of Shares then owned by the Grantee, to be valued at the Fair Market Value on the date of exercise (which are not the subject of any pledge or other security interest and which have been owned by the Grantee for at least six months), by the withholding of Shares for which a Stock Option is exercisable, or by a combination of these methods.  Payment may also be made by delivering a properly executed exercise notice to the Company together with a copy of irrevocable instructions to a broker to deliver promptly to the Company the aggregate amount of sale or loan proceeds to pay the Exercise Price.  To facilitate the foregoing, the Company may enter into agreements for coordinated procedures with one or more brokerage firms.  The Company may prescribe any other method of paying the Exercise Price that it determines to be consistent with applicable law.  In determining which methods the Grantee may utilize to pay the Exercise Price, the Company may consider such factors as it determines are appropriate.

(c)    Term.

(i)    In General.  Subject to earlier termination as set forth herein, the Stock Options shall terminate on the tenth anniversary of the Grant Date.

(ii)    Termination of Directorship (failure to be nominated/elected to the Board).  In the event that the service of the Grantee is terminated by reason of (x) failure of the Company to nominate for re-election such Grantee who is otherwise eligible or (y) the failure of such Grantee to be re-elected by the stockholders following nomination by the Company (in either case, if such failure to be nominated/elected to the Board was not due to Cause) or (z) the voluntary retirement of a Grantee, the Stock Options, to the extent vested as of the date of such termination of service, shall expire on the earliest of: (xx) the expiration of the term set forth in Paragraph 1(c)(i) above and (yy) one (1) year after the date of such termination of service.

(iii)    Termination of Directorship due to Death or Disability.  In the event that the service of the Grantee is terminated by reason of death or Disability, the Stock Options shall expire on the earliest of: (x) the expiration of the term set forth in Paragraph 1(c)(i) above and (y) one (1) year after the date of such termination of service.  

1

(iv)    Termination of Directorship Due to Any Other Reason (Including Cause).  Except as otherwise provided pursuant to Paragraph 3 hereof, in the event that the service of the Grantee is terminated for any reason other than voluntary retirement, failure to be nominated/elected to the Board without Cause, death or Disability, the Stock Options shall no longer be exercisable and shall terminate and be of no further force or effect from and after the date of such termination. 

2.  STOCK AWARDS

(a)    Stock Award Grant.  On the terms and conditions set forth in this Agreement and the Plan, the Company hereby grants to the Grantee a total of 500 Shares (the “Stock Award”), which will vest and the restrictions upon which will lapse in four installments (each, a “Vesting Date”), as follows:

---------------------------         -----------------------------------
Shares             Vesting Date
---------------------------         -----------------------------------
125            [________], 20[__]
---------------------------         -----------------------------------
125            [________], 20[__]
---------------------------         -----------------------------------
125            [________], 20[__]
---------------------------         -----------------------------------
125            [________], 20[__]
---------------------------         -----------------------------------

(b)    Book-Entry Form.  Unless otherwise directed by the Committee, Shares under the Stock Award shall be held in book entry form with appropriate restrictions relating to the transfer of such Shares.

(c)    Termination of Directorship for Any Reason.  Except as otherwise provided pursuant to Paragraph 3 hereof, or as otherwise determined by the Board, in the event that the Grantee’s service as a director of the Company terminates for any reason, any and all unvested Stock Awards for which the Vesting Date had not yet occurred as of the date of such termination shall terminate and become null and void.

3.  ADJUSTMENT PROVISIONS; CHANGE OF CONTROL.

(a)    The Stock Options and the Stock Award shall be subject to adjustment as provided in Section 4(b) of the Plan.

(b)    The Stock Options and the Stock Award shall be subject to Section 13 of the Plan upon and following a Change of Control.

4.  ADMINISTRATION

(a)    Non-transferability.  Stock Options and the right to receive unvested Stock Awards granted under the Plan to a Grantee shall not be transferable otherwise except, in the case of Stock Options, by will or the laws of descent and distribution, and Stock Options shall be exercisable, during the Grantee’s lifetime, only by the Grantee.  In the event of the death of the Grantee, each Stock Option theretofore granted to him or her shall be exercisable during such period after his or her death by such Grantee’s representative. Notwithstanding the foregoing, Stock Options and unvested Shares under the Stock Award may be transferred by the Grantee solely to the Grantee’s spouse, siblings, parents, children and grandchildren or trusts for the benefit of such persons or partnerships, corporations, limited liability companies or other entities owned solely by such persons, including trusts for such persons. 

(b)    Representations and Warranties of Grantee.  The Grantee hereby represents and warrants to the Company as follows:

i.    The Grantee has the legal right and capacity to enter into this Agreement and fully understands the terms and conditions of this Agreement.

ii.    The Grantee is acquiring the Stock Options and Stock Award for investment purposes only and not with a view to, or in connection with, the public distribution thereof in violation of the Securities Act of 1933, as amended (the “Securities Act”).

iii.    If any Shares subject to the Stock Options or the Stock Award shall be registered under the Securities Act, no public offering (otherwise than on a national securities exchange, as defined in the Securities Exchange Act of 1934, as amended) of any Shares acquired hereunder shall be made by the Grantee (or any other person) under such circumstances that he or she (or such person) may be deemed an underwriter, as defined in the Securities Act.

2

iv.    The Grantee understands and agrees that none of the Shares subject to the Stock Options or the Stock Award may be offered, sold, assigned, transferred, pledged, hypothecated or otherwise disposed of except in compliance with this Agreement and the Securities Act pursuant to an effective registration statement or applicable exemption from the registration requirements of the Securities Act and applicable state securities or “blue sky” laws, and then only in accordance with the SEACOR Holdings Inc. Insider Trading and Tipping Procedures and Guidelines (the “Insider Trading Policy”).  The Grantee further understands that the Company has no obligation to cause or to refrain from causing the resale of the Stock Award, any of the Shares subject to the Stock Options, or any other Shares or shares of its capital stock to be registered under the Securities Act or to comply with any exemption under the Securities Act which would permit the Stock Award or Shares subject to the Stock Options to be sold or otherwise transferred by the Grantee.  The Grantee further understands that, without approval in writing pursuant to the Insider Trading Policy, no trade may be executed in any interest or position relating to the future price of Company securities, such as a put option, call option, or short sale (which prohibition includes, among other things, establishing any “collar” or other mechanism for the purpose of establishing a price).

v.    Notwithstanding anything herein to the contrary, the Company shall have no obligation to deliver any Shares hereunder or make any other distribution of benefits under hereunder unless such delivery or distribution would comply with all applicable laws (including, without limitation, the Securities Act), and the applicable requirements of any securities exchange or similar entity.

(d)    Notices.  Any notice required or permitted hereunder shall be deemed given, if to the Grantee, when delivered (a) by a nationally recognized overnight delivery service (receipt requested), (b) by e-mail or other electronic means, or (c) by certified or registered mail, return receipt requested, postage prepaid, at such address as the Company shall maintain for the Grantee in its personnel records or such other address as he or she may designate in writing to the Company.  Grantee will promptly notify the Company in writing upon any change in Grantee’s mailing address or e-mail address.  Any notice required or permitted hereunder shall be deemed given, if to the Company, when delivered by certified or registered mail, return receipt requested, postage prepaid, to the Company, at 2200 Eller Drive, PO Box 13038, Fort Lauderdale, FL 33316, Attention: Corporate Secretary or such other address as the Company may designate in writing to the Grantee.

(e)    Failure to Enforce Not a Waiver. The failure of the Company to enforce at any time any provision of this Agreement shall in no manner be construed to be a waiver of such provision or of any other provision hereof.

(f)    Amendment and Termination.  Subject to the terms of the Plan, this Agreement may not be amended or terminated unless such amendment or termination is in writing and duly executed by each of the parties hereto.

(g)    Tenure.  A Grantee’s right, if any, to continue to serve as a director of the Company or any of its Affiliates shall not be enlarged or otherwise affected by his or her designation as a participant under the Plan.

(h)    Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument.

(i)    Benefit and Binding Effect.  This Agreement shall be binding upon and shall inure to the benefit of the Company, its successors and assigns, and the Grantee, his or her executors, administrators, personal representatives and heirs.  In the event that any part of this Agreement shall be held to be invalid or unenforceable, the remaining parts hereof shall nevertheless continue to be valid and enforceable as though the invalid portions were not a part hereof.

(j)    Entire Agreement.  This Agreement contains the entire understanding of the parties hereto with respect to the Stock Options and Stock Award and supersedes all prior agreements, discussions and understandings with respect to such subject matter.

(k)    Governing Law.  This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without giving effect to principles and provisions thereof relating to conflict or choice of laws.

(l)    Clawback.   The Stock Options, the Shares issued upon exercise of the Stock Options, the Stock Award, and the Shares issued upon vesting of the Stock Award will be subject to such clawback provisions as may be required to be made pursuant to any applicable law, government regulation or stock exchange listing requirement, or other applicable Company policy.

(m)    2014 Share Incentive Plan Controls.  This Agreement is subject to all terms and provisions of the Plan, which are incorporated herein by reference.  In the event of any conflict, the terms and provisions of the Plan shall control over the terms and provisions of this Agreement.  All capitalized terms herein shall have the meanings given to such terms by the Plan unless otherwise defined herein or unless the context clearly indicates otherwise.

3

IN WITNESS WHEREOF, The Company has executed this Agreement on the day and year first above written.

SEACOR HOLDINGS INC.

______________________________________________    
Paul L. Robinson
Senior Vice President and General Counsel

The undersigned hereby accepts, and agrees to, all terms and provisions of the foregoing Non-Employee Director Annual Share Incentive Grant Agreement.

______________________________________________    
Name:  ________________________________________
Dated:  ________________________________________
    

4atk-3312014xexhibit10.12.4

Exhibit 10.12.4

	
				
	
	NON-QUALIFIED STOCK OPTION AWARD AGREEMENT 
(Installment Vesting)

	 
	 
	 

	1.
	The Grant. Alliant Techsystems Inc., a Delaware corporation (the “Company”), hereby grants to you, on the terms and conditions set forth in this Non-Qualified Stock Option Award Agreement (this “Agreement”) and in the Alliant Techsystems Inc. 2005 Stock Incentive Plan (the “Plan”), an option (the “Option”) (a) as of the date (the “Grant Date”), (b) for the purchase of the number of shares of common stock of the Company (the “Shares”), (c) at an option price per Share and (d) with the expiration date (the “Expiration Date”), which the Company or its agent provided to you separately in writing through an electronic notice and on-line grant acceptance web page (the “Electronic Notice and On-Line Grant Acceptance”).

	2.
	Exercise of Option.  The exercise of the Option is subject to the following terms and conditions:  

	 
	(a)
	The Option may be exercised only by you (or by your appropriate representatives in the event of your death), in whole or in part from time to time as provided in Paragraph 2(b) below, during the period commencing on the date set forth in Paragraph 2(b) below and ending on the earlier of (i) the Expiration Date or (ii) the expiration of the applicable period following the date of your termination of employment with the Company or one of its Affiliates (as defined in the Plan), as provided in Paragraph 4 below.  In no event, however, may you exercise the Option to any extent after the Expiration Date.

	 
	(b)
	The Option shall become exercisable to the extent of one third of the Shares on each of the first, second, and third anniversaries of the Grant Date.  Once the Option has become exercisable, you may exercise it to the extent set forth in the preceding sentence at any time thereafter, subject to the provisions of this Agreement.

	 
	(c)
	The Option shall become immediately exercisable in full after a Change in Control (as defined in Appendix A to this Agreement).  However, if you are or become a participant in the Company’s Income Security Plan or any successor or substitute plan (the “ISP”), the terms relating to the exercisability of the Option, including whether a Change in Control has occurred, shall be governed by the provisions of the ISP.

	3.
	Manner of Exercise.  The Option shall be exercised by the delivery of written notice of exercise (the “Notice”) to the Company or its agent.  The Notice shall be in electronic form or such other form as the Company may prescribe and shall specify the number of Shares as to which you are exercising the Option, and shall be accompanied by payment of the purchase price of the Shares either in cash (certified or cashier’s check payable to the Company or by wire transfer to the Company) or by the delivery of Shares, or both.  The Notice shall also be accompanied by such other information and documents as the Company, in its discretion, may request.

	4.
	Termination of Employment.  Subject to the provisions of Paragraph 2 above, the Option may be exercised as provided in the Plan and this Agreement to the following extent for the following period after your termination of employment:

	 
	(a)
	For three years if your termination of employment is a result of your death, to the extent exercisable on the date of death;

	 
	(b)
	For three years if your termination of employment is a result of your Retirement (as defined in Appendix A to this Agreement) or involuntary layoff, to the extent exercisable on the date of such termination of employment, provided, however, that if you die after such termination of employment, your appropriate representatives may exercise the Option within 180 days after your death but no later than three years after such termination of employment; 

	 
	(c)
	For three years if your termination of employment is a result of Disability (as defined in Appendix A to this Agreement), to the extent exercisable on the date of such termination of employment, provided, however, that if you die after such termination of employment, your appropriate representatives may exercise the Option within 180 days after your death but no later than three years after such termination of employment; or

	 
	(d)
	For 90 days after your termination of employment by reason of voluntary layoff or any other reason, other than for cause, to the extent exercisable on the date of such termination of employment.

	 
	The Option may not be exercised following your termination of employment for cause.

	5.
	Recoupment.  The Committee reserves the right to recoup the Option, the value of the Option, or any Shares acquired upon the exercise of the Option from you in the event there is a material restatement of the Company’s financial results.  If the Committee determines a recoupment is appropriate in the exercise of its discretion, considering all the facts and circumstances, you shall forfeit and pay back, as applicable, such portion, or all, of the Option, the value of the Option and any Shares acquired upon the exercise of the Option as determined by the Committee in its sole discretion.

	6.
	Holding Requirement.  You will be required to retain at least 50% of the net number of underlying Shares issued upon the exercise of the Option until you cease to be an executive officer of the Company.  See the Stock Holding Policy for additional information.

	7.
	Income Taxes.  You are liable for any federal, state and local income or other taxes applicable upon the grant or exercise of the Option or the disposition of the Shares.  Upon exercise of the Option, you shall promptly pay to the Company the minimum statutory withholding taxes required to be withheld or collected by the Company in connection with the exercise of the Option.  You may pay all or a portion of the minimum statutory withholding taxes by (a) having the Company withhold Shares otherwise to be delivered upon the exercise of the Option with a Fair Market Value (as defined in the Plan) equal to the amount of such taxes, (b) delivering to the Company Shares other than Shares issuable upon the exercise of the Option with a Fair Market Value equal to the amount of such taxes or (c) paying cash.  For federal income tax purposes, the Option shall not be eligible for treatment as a qualified or incentive stock option.

	8.
	Acknowledgment.  This Option shall not be effective until you agree to the terms and conditions of this Agreement and the Plan, and acknowledge receipt of a copy of the Prospectus relating to the Plan, by accepting this Option in writing or electronically as specified by the Company or its agent in the Electronic Notice and On-Line Grant Acceptance.

	 
	 
	 

	 
	 
	ALLIANT TECHSYSTEM INC.

	 
	 
	/s/ Mark W. DeYoung

	 
	 
	Mark W. DeYoung
President & Chief Executive Officer

	
				
	Alliant Techsystems Inc. 2005 Stock Incentive Plan

	 
	 
	 
	 

	Appendix A to Award Agreement

	 
	 
	 
	 

	“Change in Control” means any of the following:

	 
	 
	 
	 

	 
	•
	The acquisition by any “person” or group of persons (a “Person”), as such terms are used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (other than the Company or a “Subsidiary” (as defined below) or any Company employee benefit plan (including its trustee)) of “beneficial ownership” (as defined in Rule 13d-3 under the Exchange Act) (“Beneficial Ownership”), directly or indirectly, of securities of the Company representing, directly or indirectly, more than 50% of the total number of shares of the Company’s then outstanding “Voting Securities” (as defined below);

	 
	 
	 
	 

	 
	•
	consummation of a reorganization, merger or consolidation of the Company, or the sale or other disposition of all or substantially all of the Company’s assets (a “Business Combination”), in each case, unless, following such Business Combination, the individuals and entities who were the beneficial owners of the total number of shares of the Company’s outstanding Voting Securities immediately prior to both (1) such Business Combination, and (2) any “Change Event” (as defined below) occurring within 12 months prior to such Business Combination, beneficially own, directly or indirectly, more than 50% of the total number of shares of the outstanding Voting Securities of the resulting corporation, or the acquiring corporation, as the case may be, immediately following such Business Combination (including, without limitation, the outstanding Voting Securities of any corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the total number of shares of the Company’s outstanding Voting Securities; or

	 
	 
	 
	 

	 
	•
	any other circumstances (whether or not following a Change Event) which the Company’s Board of Directors (the “Board”) determines to be a Change in Control for purposes of this Plan after giving due consideration to the nature of the circumstances then represented and the purposes of this Plan.  Any such determination made by the Board shall be irrevocable except by vote of a majority of the members of the Board who voted in favor of making such determination.

	 
	 
	 
	 

	For purposes of this definition, a “Change in Control” shall not result from any transaction precipitated by the Company's insolvency, appointment of a conservator, or determination by a regulatory agency that the Company is insolvent.

	 
	 
	 
	 

	For purposes of this definition:

	 
	•
	“Change Event” means

	 
	 
	 
	 

	 
	 
	(1)
	the acquisition by any Person (other than the Company or a Subsidiary or any Company employee benefit plan (including its trustee)) of Beneficial Ownership, directly or indirectly, of securities of the Company directly or indirectly representing 15% or more of the total number of shares of the Company’s then outstanding Voting Securities (excluding the sale or issuance of such securities directly by the Company, or where the acquisition of such securities is made by such Person from five or fewer stockholders in a transaction or transactions approved in advance by the Board);

	 
	 
	 
	 

	
				
	 
	 
	 
	 

	 
	 
	(2)
	the public announcement by any Person of an intention to acquire the Company through a tender offer, exchange offer, or other unsolicited proposal; or

	 
	 
	 
	 

	 
	 
	(3)
	the individuals who are members of the Board (the “Incumbent Board”) as of the Grant Date set forth in the Award Agreement cease for any reason to constitute at least a majority of the Board; provided, however, that if the nomination for election of any new director was approved by a vote of a majority of the Incumbent Board, such new director shall, for purposes of this definition, be considered a member of the Incumbent Board.

	 
	 
	 
	 

	 
	•
	“Subsidiary” means a corporation as defined in Section 424(f) of the Internal Revenue Code with the Company being treated as the employer corporation for purposes of this definition.

	 
	 
	 
	 

	 
	•
	“Voting Securities” means any shares of the capital stock or other securities of the Company that are generally entitled to vote in elections for directors.

	 
	 
	 
	 

	*        *        *        *

	 
	 
	 
	 

	“Disability” means that you have been determined to have a total and permanent disability either by

	 
	 
	 
	 

	 
	•
	being eligible for disability for Social Security purposes, or

	 
	 
	 
	 

	 
	•
	being totally and permanently disabled under the Company's long-term disability plan.

	 
	 
	 
	 

	“Retirement” means

	 
	 
	 
	 

	 
	•
	if you are a current participant in a Company defined benefit plan, then “Retirement” is defined by that defined benefit plan, or

	 
	 
	 
	 

	 
	•
	if you are not a current participant in a Company defined benefit plan, then “Retirement” means that you have reached age 55 and have at least five years of “vesting service” as defined in the Company's 401(k) Plan.

	A-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}]]