Document:

Exhibit 10.3

 

	
  

  	
  PERFORMANCE
  GROWTH AWARD AGREEMENT

  

 

1.       The Grant.  Alliant Techsystems Inc., a
Delaware corporation (the “Company”), hereby grants to you, on the terms and
conditions set forth in this Performance Award Agreement (this “Agreement”) and
in the Alliant Techsystems Inc. 2005 Stock Incentive Plan (the “Plan”), a
Performance Award as of the date, and for the number of Shares (the “Performance
Shares”), which the Company or its agent provided to you separately in writing
through an electronic notice and on-line award acceptance web page (the “Electronic
Notice and On-Line Award Acceptance”).

 

2.       Measuring
Period.  The Measuring Period for purposes of
determining whether the Company will pay you the Performance Shares shall be fiscal years 2011 through 2013.

 

3.        Performance Goals.  The Performance Goals for purposes of
determining whether the Company will pay you the Performance Shares are set
forth in the Performance Accountability Chart, which the Company provided to
you separately in writing.

 

4.        Payment.  The Company will pay you the Performance
Shares if and to the extent that the Performance Goals are achieved, as set
forth in the Performance Accountability Chart and as determined by the
Personnel and Compensation Committee of the Company’s Board of Directors (the “Committee”)
in its sole discretion.  Notwithstanding
the foregoing, the Committee has the discretion to adjust the payment level
downward from the level of performance actually achieved.

 

5.        Form and Timing of Payment. The Company will pay you any shares payable pursuant to this Agreement in
shares of common stock of the Company (the “Shares”), with one Share issued for
each Performance Share earned.  The
Company will pay you the Performance Shares as soon as practicable after the
Committee determines, in its sole discretion, after the end of the Measuring
Period, whether, and the extent to which, the Performance Goals have been
achieved, but in no event later than 2 1⁄2 months after the end of the Measuring
Period.

 

6.        Change in Control.  After a Change in Control (as defined in
Appendix A to this Agreement), the Performance Shares shall immediately be
payable at the threshold performance level, but prorated for your active
service time with the Company during the Measuring Period.  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 of payment of the Performance Shares shall be governed by the
provisions of the ISP.

 

7.        Forfeiture.  In the event of your termination of
employment prior to the end of the Measuring Period, other than by reason of death, Disability (as
defined in Appendix A to this Agreement), retirement, or voluntary or
involuntary layoff, all of your Performance Shares and rights to payment of any
Shares shall be immediately and irrevocably forfeited.  In the event of your termination of
employment prior to the end of the Measuring Period by reason of Disability,
retirement, or voluntary or involuntary layoff, you shall be entitled to receive,
after the end of the Measuring Period, the number of Shares determined by the
Committee pursuant to this Agreement, but prorated for your active service time
with the Company during the Measuring Period. 
In the event of your death prior to the end of the Measuring Period,
your estate shall be entitled to receive, within a practicable time after your
death, payment of the Performance Shares at the threshold performance level, but prorated for your active service
time with the Company during the Measuring Period.  In the event you are reassigned to a position
and as a result you are no longer eligible for Performance Shares, you shall be
entitled to receive, after the end of the Measuring Period, the number of Shares
determined by the Committee pursuant to this Agreement, but prorated for your
service time as an eligible participant during the Measuring Period.  The Committee reserves the right to recoup
Awards, or the value of Awards, 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 such portion, or all, of the outstanding or previously
awarded Awards as determined by the Committee in its sole discretion.This
recoupment provision includes Awards deferred into the ATK Nonqualified
Deferred Compensation Plan.

 

8.        Holding Requirement. As long as
you serve as an “executive officer” of the Company, as defined by federal
securities regulations, you will be required to retain at least 30% of the
total number of Shares earned under the terms of this Agreement.  See the Stock Holding policy for additional
information.

 

9.        Rights.  Nothing herein shall be deemed to grant you
any rights as a holder of Shares unless and until the Company actually issues
the Shares to you as provided herein.

 

10.       Income Taxes.  You are liable for any federal, state and
local income or other taxes applicable upon the grant of the Performance
Shares, the receipt of the Shares, or subsequent disposition of the Shares, and
you acknowledge that you should consult with your own tax advisor regarding the
applicable tax consequences.  Upon
payment of the Performance Shares and/or issuance of the Shares to you, the
Company will pay your required minimum statutory withholding taxes by
withholding Shares otherwise to be delivered upon the payment of the
Performance Shares with a Fair Market Value (as defined in the Plan) equal to
the amount of such taxes.  Alternatively,
if you notify the Company prior to the end of the Measuring Period, you may
elect to pay all or a portion of the minimum statutory withholding taxes by
(a) delivering to the Company Shares other than Shares issuable upon the
payment of the Performance Shares with a Fair Market Value equal to the amount of such
taxes or (b) paying cash, provided that if you do not deliver such Shares
or cash to the Company by the second business day after the payment date of the
Performance Shares, the Company will pay your required minimum statutory
withholding taxes by withholding Shares otherwise to be delivered upon the
payment of the Performance Shares with a Fair Market Value equal to the amount
of such taxes.

 

11.       Acknowledgment.  This Award of Performance Shares 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 Award in writing or electronically as specified by the
Company or its agent in the Electronic Notice and On-Line Award Acceptance.

 

	
   

  	
  ALLIANT TECHSYSTEMS INC.

  	
   

  
	
   

  	
  Mark W. DeYoung

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ 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.

 

A-2Exhibit 10.4

 

	
  

  	
  RELATIVE STOCKHOLDER RETURN PERFORMANCE AWARD
  AGREEMENT

  

 

1.       The Grant.  Alliant Techsystems Inc., a
Delaware corporation (the “Company”), hereby grants to you, on the terms and
conditions set forth in this Performance Award Agreement (this “Agreement”) and
in the Alliant Techsystems Inc. 2005 Stock Incentive Plan (the “Plan”), a
Performance Award as of the date, and for the number of Shares (the “Performance
Shares”), which the Company or its agent provided to you separately in writing
through an electronic notice and on-line award acceptance web page (the “Electronic
Notice and On-Line Award Acceptance”).

 

2.       Measuring
Period.  The Measuring Period for purposes of
determining whether the Company will pay you the Performance Shares shall be fiscal years 2011 through 2013.

 

3.        Performance Goals.  The Performance Goals for purposes of
determining whether the Company will pay you the Performance Shares are set
forth in the Performance Accountability Chart, which the Company provided to
you separately in writing.

 

4.        Payment.  The Company will pay you the Performance
Shares if and to the extent that the Performance Goals are achieved, as set
forth in the Performance Accountability Chart and as determined by the
Personnel and Compensation Committee of the Company’s Board of Directors (the “Committee”)
in its sole discretion. Notwithstanding the foregoing, the Committee has the
discretion to adjust the payment level downward from the level of performance
actually achieved.

 

5.        Form and Timing of Payment. The Company will pay you any shares payable pursuant to this Agreement in
shares of common stock of the Company (the “Shares”), with one Share issued for
each Performance Share earned.  The
Company will pay you the Performance Shares as soon as practicable after the
Committee determines, in its sole discretion, after the end of the Measuring
Period, whether, and the extent to which, the Performance Goals have been
achieved, but in no event later than 2 1⁄2 months after the end of the Measuring
Period.

 

6.        Change in Control.  After a Change in Control (as defined in
Appendix A to this Agreement), the Performance Shares shall immediately be
payable at the threshold performance level, but prorated for your active
service time with the Company during the Measuring Period.  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 of payment of the Performance Shares shall be governed by the
provisions of the ISP.

 

7.        Forfeiture.  In the event of your termination of
employment prior to the end of the Measuring Period, other than by reason of death, Disability (as
defined in Appendix A to this Agreement), retirement, or voluntary or
involuntary layoff, all of your Performance Shares and rights to payment of any
Shares shall be immediately and irrevocably forfeited.  In the event of your termination of
employment prior to the end of the Measuring Period by reason of Disability,
retirement, or voluntary or involuntary layoff, you shall be entitled to
receive, after the end of the Measuring Period, the number of Shares determined
by the Committee pursuant to this Agreement, but prorated for your active
service time with the Company during the Measuring Period.  In the event of your death prior to the end
of the Measuring Period, your estate shall be entitled to receive, within a
practicable time after your death, payment of the Performance Shares at the threshold performance level, but
prorated for your active service time with the Company during the Measuring
Period.  In the event you are reassigned
to a position and as a result you are no longer eligible for Performance
Shares, you shall be entitled to receive, after the end of the Measuring Period,
the number of Shares determined by the Committee pursuant to this Agreement,
but prorated for your service time as an eligible participant during the
Measuring Period.  The Committee reserves
the right to recoup Awards, or the value of Awards, 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 such portion, or all, of the
outstanding or previously awarded Awards as detemined by the Committeee in its
sole discretion.  This recoupment
provision includes Awards deferred into the ATK Nonqualified Deferred
Compensation Plan.

 

8.        Holding Requirement.  As long as you serve as an “executive officer” of the Company, as defined
by federal securities regulations, you will be required to retain at least 30%
of the total number of Shares earned under the terms of this Agreement.  See the Stock Holding policy for additional
information.

 

9.        Rights.  Nothing herein shall be deemed to grant you
any rights as a holder of Shares unless and until the Company actually issues
the Shares to you as provided herein.

 

10.       Income Taxes.  You are liable for any federal, state and
local income or other taxes applicable upon the grant of the Performance
Shares, the receipt of the Shares, or subsequent disposition of the Shares, and
you acknowledge that you should consult with your own tax advisor regarding the
applicable tax consequences.  Upon
payment of the Performance Shares and/or issuance of the Shares to you, the
Company will pay your required minimum statutory withholding taxes by
withholding Shares otherwise to be delivered upon the payment of the
Performance Shares with a Fair Market Value (as defined in the Plan) equal to
the amount of such taxes.  Alternatively,
if you notify the Company prior to the end of the Measuring Period, you may
elect to pay all or a portion of the minimum statutory withholding taxes by
(a) delivering to the Company Shares other than Shares issuable upon the
payment of the Performance Shares with a Fair Market Value equal to the amount of such
taxes or (b) paying cash, provided that if you do not deliver such Shares
or cash to the Company by the second business day after the payment date of the
Performance Shares, the Company will pay your required minimum statutory
withholding taxes by withholding Shares otherwise to be delivered upon the
payment of the Performance Shares with a Fair Market Value equal to the amount
of such taxes.

 

11.       Acknowledgment.  This Award of Performance Shares 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 Award in writing or electronically as specified by the
Company or its agent in the Electronic Notice and On-Line Award Acceptance.

 

	
   

  	
  ALLIANT TECHSYSTEMS INC.

  	
   

  
	
   

  	
  Mark W. DeYoung

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ 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.

 

A-2

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