Document:

EX-10.10

 

    Exhibit 10.10

 

    SUMMARY
    OF COMPENSATION FOR

    THE BOARD OF TRUSTEES OF

    RAMCO-GERSHENSON PROPERTIES TRUST

 

 

    Annual
    Cash Retainer:

 

    Non-Employee Trustees: $3,750 each quarter (paid in
    advance)

 

    Additional
    Cash Retainer:

 

    Lead Trustee: $6,250 each quarter (paid in advance)

 

    Audit Committee Chair: $10,000*

 

    Audit Committee Members: $5,000*

 

    Executive Committee Members: $2,500*

 

    Annual
    Equity Retainer:

 

    Non-Employee Trustees. Grant of 2,000 shares of
    restricted stock, vesting over three years (grant made on
    June 30th or, if not a business day, the business day
    prior to June 30th)

 

    Meeting
    Attendance Fees:

 

    Non-Employee Trustees. $1,500 per meeting attended in
    person or $500 per meeting attended via telephone (paid shortly
    after meeting).

 

    Other:

 

    The Trust reimburses all trustees for all expenses incurred in
    connection with attending any meetings or performing their
    duties as trustees.

 

    Trustees who are employees or officers of the Trust or any of
    its subsidiaries do not receive any compensation for serving on
    the Board of Trustees or any committees thereof.

 

 

    *  Payment is subject to attendance by the trustee at
    75% or more of the applicable Committee meetings during the
    applicable calendar year.EX-10.10

EXHIBIT 10.10

ASTRONICS CORPORATION

First Amendment of the Astronics Corporation Supplemental Retirement Plan

FIRST AMENDMENT

of the

ASTRONICS CORPORATION SUPPLEMENTAL RETIREMENT PLAN

          Under the Astronics Corporation Supplemental Retirement Plan (the “Plan”), Astronics
Corporation (the “Corporation”) reserved the right to amend the Plan. The Corporation wishes to
amend the Plan to reflect certain changes to its terms, and to comply with the written plan
requirements of the final regulations issued under Internal Revenue Code Section 409A.

          The Corporation hereby amends the Plan in the following respects:

	 	1.	 	Article IV is amended by the addition of the following at
the end thereof:

Notwithstanding any other provision in the Plan to the contrary,
benefits will distributable upon a Participant’s separation from service
with the Company on account of the death, retirement, or other
termination of employment determined consistent with the provisions of
Section 409A of the Code (a “Separation”) and will commence as soon as
practicable on or after the later of the Separation or the date the
Participant’s would attain age 60. If a benefit is payable solely
because a Participant who is a “specified employee”, within the meaning
of Section 409A of the Code, has “separated from service”, within the
meaning of Section 409A of the Code, no benefits will be paid prior to
the date that is six months after the date of separation from service
(or, if earlier, the date of death of the Participant). Payments to
which a Participant would otherwise be entitled during the first six
months following the date of separation from service will be accumulated
and paid on the day that is six months after the date of separation from
service. For this purpose, a benefit payable will be paid as the amount
calculated at the time of separation from service (without adjustment
for delay in payment).

          Unless otherwise indicated, the effective date of this First Amendment is January 1, 2005. In
all other respects, the Plan remains unchanged.

	 	 	 	 	 	 	 
	 	 	ASTRONICS CORPORATION	 	 
	 
	 	 	 	 	 	 
	January 1, 2005

	 	By:	 	 	 	 
	Date

	 	 	 	 

Kevin T. Keane,
	 	 
	 

	 	 	 	Chairman of the BoardEX-10.11

EXHIBIT 10.11

ASTRONICS CORPORATION

First Amendment of the Employment Termination Benefits Agreement Dated December 30, 2008 between

Astronics Corporation and Peter J. Gundermann, President and Chief Executive Officer of Astronics

Corporation.

FIRST AMENDMENT

of the

EMPLOYMENT TERMINATION BENEFITS AGREEMENT

          THIS AMENDMENT, dated as of December 31, 2008, is between ASTRONICS CORPORATION (the
“Company”), and PETER J. GUNDERMANN (the “Executive”).

RECITALS:

          A. The Company and the Executive have entered into an Employment Termination Benefits
Agreement dated as December 16, 2003 (the “Agreement”).

          B. It is intended that the Agreement comply with the provisions of Section 409A of the Code
and the regulations and guidance of general applicability issued thereunder (referred to herein as
“Section 409A”) so as to not subject the Executive to the payment of additional interest and taxes
under Section 409A. In furtherance of this intent, the Agreement shall be interpreted, operated
and administered in a manner consistent with these intentions, and to the extent Section 409A would
result in the Executive being subject to the payment of additional income taxes or interest under
Section 409A, the parties agree to amend the Agreement in order to avoid the application of such
taxes and interest. Consistent with this intent, the Company and the Executive desire to amend the
Agreement to reflect certain changes to the terms and conditions of the Agreement by entering into
this First Amendment to the Agreement (this “Amendment”).

          NOW THEREFORE, in consideration of the foregoing, the Company and the Executive agree to amend
the Agreement effective as of December 31, 2008 as follows:

          1. Termination of Employment. For purposes of Section 6.04 of the Agreement, no
Involuntary Termination of Employment, shall be considered to have occurred unless such Involuntary
Termination of Employment would also qualifies as a “separation from service” within the meaning of
Section 409A.

          2. Delayed Payments. Notwithstanding any provision in the Agreement to the contrary,
if the Executive is a “specified employee” (within the meaning of Section 409A), to the extent
needed to comply with Section 409A, payments due under Section 6.04 of the Agreement which are
considered part of a deferred compensation arrangement under Section 409A will be subject to a six
(6) month delay such that amounts otherwise payable during the six (6) month period following the
Executive’s separation from service shall be accumulated and paid in a lump-sum catch-up payment as
of the first day of the seventh month following the Executive’s separation from service (or, if
earlier, the date of the Executive’s death).

          3. Treatment as Separation Pay. Section 2 of this Amendment will not apply to the
extent such payments can be considered to be “separation pay” that is not part of a deferred
compensation arrangement under Section 409A. If permitted by Section 409A, payments to the
Executive pursuant to Section 6.04 of the Agreement shall be considered first to come from
“separation pay.”

 

          4. Timing of Reimbursement Payments. Notwithstanding any provision in Section 6.04 of
the Agreement to the contrary, any reimbursement of expenses provided for in this Section 6.04 will
be made no later than the last day of the calendar year following the year in which the Executive
incurred the expense.

          5. The second sentence of Section 6.04 is deleted in its entirety.

          Except as specifically amended hereby, the Agreement shall continue in full force and effect
as written.

          This Amendment may be executed in any number of counterparts, each of which will be deemed to
be an original and all of which taken together will be deemed to constitute one and the same
instrument.

          IN WITNESS WHEREOF, the parties have duly executed this Amendment as of this 31 day of
December, 2008.

COMPANY:

	 	 	 	 	 
	 	ASTRONICS CORPORATION

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

EXECUTIVE:

	 	 	 	 	 
	 	 	 
	 	
 	 
	 	 	Peter J. GundermannEX-10.12

EXHIBIT 10.12

ASTRONICS CORPORATION

First Amendment of the Employment Termination Benefits Agreement Dated December 30, 2008 between

Astronics Corporation and David C. Burney, Vice President and Chief Financial Officer of Astronics

Corporation

FIRST AMENDMENT

of the

EMPLOYMENT TERMINATION BENEFITS AGREEMENT

          THIS AMENDMENT, dated as of December 31, 2008, is between ASTRONICS CORPORATION (the
“Company”), and DAVID C. BURNEY (the “Executive”).

RECITALS:

          A. The Company and the Executive have entered into an Employment Termination Benefits
Agreement dated as December 16, 2003 (the “Agreement”).

          B. It is intended that the Agreement comply with the provisions of Section 409A of the Code
and the regulations and guidance of general applicability issued thereunder (referred to herein as
“Section 409A”) so as to not subject the Executive to the payment of additional interest and taxes
under Section 409A. In furtherance of this intent, the Agreement shall be interpreted, operated
and administered in a manner consistent with these intentions, and to the extent Section 409A would
result in the Executive being subject to the payment of additional income taxes or interest under
Section 409A, the parties agree to amend the Agreement in order to avoid the application of such
taxes and interest. Consistent with this intent, the Company and the Executive desire to amend the
Agreement to reflect certain changes to the terms and conditions of the Agreement by entering into
this First Amendment to the Agreement (this “Amendment”).

          NOW THEREFORE, in consideration of the foregoing, the Company and the Executive agree to amend
the Agreement effective as of December 31, 2008 as follows:

          1. Termination of Employment. For purposes of Section 6.04 of the Agreement, no
Involuntary Termination of Employment, shall be considered to have occurred unless such Involuntary
Termination of Employment would also qualifies as a “separation from service” within the meaning of
Section 409A.

          2. Delayed Payments. Notwithstanding any provision in the Agreement to the contrary,
if the Executive is a “specified employee” (within the meaning of Section 409A), to the extent
needed to comply with Section 409A, payments due under Section 6.04 of the Agreement which are
considered part of a deferred compensation arrangement under Section 409A will be subject to a six
(6) month delay such that amounts otherwise payable during the six (6) month period following the
Executive’s separation from service shall be accumulated and paid in a lump-sum catch-up payment as
of the first day of the seventh month following the Executive’s separation from service (or, if
earlier, the date of the Executive’s death).

          3. Treatment as Separation Pay. Section 2 of this Amendment will not apply to the
extent such payments can be considered to be “separation pay” that is not part of a deferred
compensation arrangement under Section 409A. If permitted by Section 409A, payments to the
Executive pursuant to Section 6.04 of the Agreement shall be considered first to come from
“separation pay.”

 

          4. Timing of Reimbursement Payments. Notwithstanding any provision in Section 6.04 of
the Agreement to the contrary, any reimbursement of expenses provided for in this Section 6.04 will
be made no later than the last day of the calendar year following the year in which the Executive
incurred the expense.

          5. The second sentence of Section 6.04 is deleted in its entirety.

          Except as specifically amended hereby, the Agreement shall continue in full force and effect
as written.

          This Amendment may be executed in any number of counterparts, each of which will be deemed to
be an original and all of which taken together will be deemed to constitute one and the same
instrument.

          IN WITNESS WHEREOF, the parties have duly executed this Amendment as of this 31 day of
December, 2008.

COMPANY:

	 	 	 	 	 
	 	ASTRONICS CORPORATION

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

EXECUTIVE:

	 	 	 	 	 
	 	 	 
	 	
 	 
	 	 	David C. Burney

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00155-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00155-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00155-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00155-of-00352.parquet"}]]