Document:

Exhibit 10.15

 

	

    	
  RESTRICTED STOCK 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 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.
    	
 
    	
Restricted Period. The Shares are subject to   the restrictions contained in this Agreement and the Plan for a period (the   “Restricted Period”) commencing on the Award Date and vesting in three equal   annual installments commencing on the first anniversary of the Award Date or,   if earlier, upon (a) a Change in Control, as provided in Paragraph 4   below, or (b) your death, Disability (as defined in Appendix A to this   Agreement), or involuntary layoff, as provided in Paragraph 5 below.
    
	
 
    	
 
    	
 
    
	
3.
    	
 
    	
Restrictions.  The Shares   shall be subject to the following restrictions during the Restricted Period:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(a)
    	
 
    	
The   Shares shall be subject to forfeiture to the Company as provided in this   Agreement and the Plan.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(b)
    	
 
    	
You   may not sell, transfer, pledge or otherwise encumber the Shares during the   Restricted Period. Neither the right to receive the Shares nor any interest   under the Plan may be transferred by you, and any attempted transfer shall be   void.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(c)
    	
 
    	
The   Company will issue the Shares in your name, either by book-entry registration   or issuance of a stock certificate or certificates, which certificate or   certificates shall be held by the Company. The Shares shall be restricted   from transfer and shall be subject to an appropriate stop- transfer order. If   any certificate is issued, the certificate shall bear an appropriate legend   referring to the restrictions applicable to the Shares. If any certificate is   issued, you shall be required to execute and deliver to the Company a stock power   relating to the Shares as a condition to the receipt of this Award of   Restricted Stock (as defined in the Plan).
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(d)
    	
 
    	
Any   securities or property (other than cash) that may be issued with respect to   the Shares as a result of any stock dividend, stock split, business   combination or other event shall be subject to the restrictions and other   terms and conditions contained in this Agreement.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(e)
    	
 
    	
You   shall not be entitled to receive any Shares prior to the completion of any   registration or qualification of the Shares under any federal or state law or   governmental rule or regulation that the Company, in its sole   discretion, determines to be necessary or advisable.
    
	
 
    	
 
    	
 
    
	
4.
    	
 
    	
Change in Control. After a Change in Control   (as defined in Appendix A to this Agreement), the Shares shall immediately   vest. 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   the vesting of the Shares shall be governed by the provisions of the ISP.
    
	
 
    	
 
    	
 
    
	
5.
    	
 
    	
Forfeiture.  In the event   of your termination of employment, other than by reason of death, Disability   or involuntary layoff prior to the end of the Restricted Period, your rights   to all of the Shares shall be immediately and irrevocably forfeited. In the   event of your termination of employment by reason of death, Disability or   involuntary layoff prior to the end of the Restricted Period, the   restrictions with respect to all of the Shares shall lapse and the Shares   shall vest as of the date of such termination of employment; provided,   however, in the case of an involuntary layoff, the Shares shall not vest   unless at least one year has elapsed from the Award Date. The Personnel and   Compensation Committee of the Company’s Board of Directors (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.
    
	
 
    	
 
    	
 
    
	
6.
    	
 
    	
Holding Requirement.  You will be required   to retain at least 50% of the net number of Shares earned under the terms of   this Agreement until you cease to be an executive officer of the Company. See   the Stock Holding Policy for additional information.
    
	
 
    	
 
    	
 
    
	
7.
    	
 
    	
Rights.  Upon issuance of the   Shares, you shall, subject to the restrictions of this Agreement and the   Plan, have all of the rights of a stockholder with respect to the Shares,   including the right to vote the Shares and receive any cash dividends and any   other distributions thereon, unless and until you forfeit the Shares.
    
	
 
    	
 
    	
 
    
	
8.
    	
 
    	
Income Taxes.  You are liable   for any federal, state and local income or other taxes applicable upon the   grant of the Restricted Stock, the vesting 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 the   vesting of the Shares, the Company will pay your required minimum statutory   withholding taxes by withholding Shares otherwise to be delivered upon the   vesting of the 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 vesting date of the Shares, you may elect to pay all or a portion of   the minimum statutory withholding taxes by (a) delivering to the Company   Shares other than the Shares vesting pursuant to this Agreement 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 vesting date of the Shares, the Company will   pay your required minimum statutory withholding taxes by withholding Shares   otherwise to be delivered upon the vesting of the Shares with a Fair Market Value   equal to the amount of such taxes.
    
	
 
    	
 
    	
 
    
	
9.
    	
 
    	
Acknowledgement.  This Award of   Restricted Stock shall not be effective until you (a) 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, and (b) if the Company   requests it, execute and deliver the stock power required by Paragraph 3   above.
    

 

	
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.

 

	
 
    	
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“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-2Exhibit 10.16

 

Amendment to ATK Restricted Stock Award Agreement

 

(Vista Outdoor Inc. Employees or Former ATK Sporting Group Employees)

 

This Amendment applies to any shares of restricted stock (“Restricted Shares”) of Alliant Techsystems Inc. (“ATK”) that have been awarded to you and that are not vested at the time of the distribution of all the outstanding shares of Vista Outdoor Inc. (“Vista”) to the stockholders of ATK (the “Spin-off”) pursuant to the Transaction Agreement, dated April 28, 2014, among Vista, ATK, Vista Merger Sub Inc. and Orbital Sciences Corporation, as it may be amended from time to time (the “Transaction Agreement”).  In accordance with the terms of the Transaction Agreement, each applicable Restricted Stock Award Agreement that you have is amended as follows:

 

1.  Vista Restricted Shares.  At the time of the Spin-off, you will receive two shares of Vista common stock (“Vista Restricted Shares”) for each ATK Restricted Share.  The Vista Restricted Shares that you receive are subject to the same vesting requirements and the other terms and conditions as in effect prior to the Spin-off for the ATK Restricted Shares to which they relate.

 

2.  ATK Shares.  Each ATK Restricted Share that was granted to you more than one year prior to the Spin-off shall vest immediately following the Spin-off.  Each ATK Restricted Share that was granted to you less than one year prior to the Spin-off shall vest on the first anniversary of its date of grant, subject to your continued employment with Vista and the other terms and conditions as in effect prior to the Spin-off for the ATK Restricted Shares to which they relate.

 

3.  For purposes of your Restricted Stock Award Agreements and this Amendment, following the Spin-off, (a) references to your employment shall mean your employment with Vista, (b) any references to a Change in Control shall only mean a change in control of Vista, as defined for purposes of equity awards granted under the Vista Outdoor Inc. 2014 Stock Incentive Plan, but the Change in Control vesting provisions shall apply to both your ATK Restricted Shares and your Vista Restricted Shares, (c) references to the ISP shall mean the Vista Outdoor Inc. Income Security Plan and (d) references to ATK shall mean Orbital ATK, Inc.

 

4.  Except as modified by this Amendment, the other terms and conditions of the applicable Restricted Stock Award Agreements remain in effect.

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