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Exhibit 10.4    
    

 
 

FORM OF EMPLOYMENT AGREEMENT    
    

        THIS AGREEMENT dated this 1st day of January 2003 by and between TRIUMPH
GROUP, INC., a Delaware corporation (the "Company"), and Lawrence J. Resnick ("Executive"). 

WITNESSETH:  

        WHEREAS, Executive has served as Vice President of the Company since 2000; and 

        WHEREAS, the Company wishes to assure itself of Executive's continued employment by the Company during the period set forth herein; and 

        WHEREAS, Executive is willing to continue to serve the Company during such period upon the terms and conditions set forth herein. 

        NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, the Company and Executive hereby agree as
follows: 

        1.    Terms of Employment.    The Company hereby agrees to employ Executive, and Executive
agrees to be employed by the Company, for a term (the "Employment Term") commencing on January 1, 2003 (the
"Effective Date") and shall expire on the fourth (4th) anniversary of the Effective Date subject to earlier termination as provided in Section 6 hereof. 

        2.    Duties and Responsibilities.    During the Employment Term, Executive shall serve as
Vice President of the Company and devote substantially all of his time and effort during normal business hours (reasonable sick leave and vacations excepted) to the business and affairs of the
Company. The Executive shall report to the President and Chief Executive Officer and the Board of Directors of the Company, and shall have such duties, responsibilities and authority as are delegated
to him by the Board of Directors. The Executive's primary place of employment during the Employment Term shall be Wayne, Pennsylvania, unless changed with the Executive's consent. 

        3.    Salary.    During the Employment Term, the Company shall pay the Executive, in periodic
installments on the same basis as other senior salaried executives of the Company, a base salary of $241,600 per annum (the "Base Salary"), subject to such increases during the Employment Term as
shall be approved by the Compensation Committee of the Board of Directors of the Company (which increases, when so approved, to thereafter constitute Executive's Base Salary for purposes of this
Agreement). 

        4.    Incentive Compensation.    In addition to the Base Salary provided in Section 3
hereof, the Company shall pay to Executive, at such times as such payments are made to other senior salaried executives of the Company and its subsidiaries (hereinafter referred to as the "Group"),
incentive payments in an amount of 50% of Base Salary for achievement of objectives up to a maximum of 100% of Base Salary for overachievement of objects shall be due Executive pursuant to the terms
of the incentive compensation plans approved by the Board of Directors of the Company or such other higher percentages as shall be approved from time to time by the Board of Directors of the Company
(which higher percentages, when so approved, to thereafter constitute Executive's incentive payment percentages for purposes of this Agreement). Incentive Payments hereunder shall be subject to such
deferral arrangements as are provided in the Group's Supplemental Executive Retirement Plan effective April 1, 1994 (the "Supplemental Retirement Plan") or otherwise approved by the Board of
Directors. The Executive's objectives under such plans shall be set forth in writing annually by the Compensation Committee of the Board of Directors. 

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        5.    Additional Benefits and Perquisites.    

        (a)    Employee Benefit Plans.    During the Employment Term, Executive shall be entitled to
participate on substantially the same basis as other senior salaried executives of the Group in all employee benefit plans maintained in effect by the Group from time to time during the Employment
Term (all such plans hereinafter referred to as "Employee Benefit Plans"). 

        (b)    Perquisites.    During the Employment Term, Executive shall be entitled to such
perquisites and fringe benefits as are generally made available to the senior salaried executives of the Group. 

        (c)    Life and Disability Insurance.    During the Employment Term, Executive shall be
entitled to participate in the group life and disability insurance plan made available to the senior salaried executives of the Group including without limitation participation in the Company's split
dollar insurance program for eligible senior executives. 

        (d)    Vacation.    During the Employment Term the Executive shall be entitled to four
(4) weeks of vacation during each calendar year. 

        6.    Early Termination.    

        (a)    Disability.    The Company shall have the right to terminate Executive's employment
during the Employment Term upon not less than thirty (30) days prior written notice to Executive or his personal representative if, because of mental or physical disability, Executive shall
have been incapable, with reasonable accommodation, of satisfactorily performing the essential functions of his job under Section 2 hereof for a continuous period of one hundred twenty
(120) days or for a total period of two hundred ten (210) days in any three hundred sixty (360) day-period prior to the date of such notice. 

        (b)    Death.    In the event of Executive's death during the Employment Term, this Agreement
shall automatically terminate as of the date of such death. 

        (c)    For Cause.    Notwithstanding any other provisions of this Agreement, the Company may
terminate Executive's employment at any time during the Employment Term for Cause, as herein defined, upon written notice to the Executive. As used herein, "Cause" shall mean intentionally engaging in
conduct which is demonstrably and materially injurious to the Company, monetarily or otherwise, or from which the Executive derives improper material personal benefit. No act, or failure to act on the
Executive's part, shall be considered "intentional" unless he acted, or failed to act, with an absence of good faith and without a reasonable relief that his action or failure to act was in the best
interest of the Company. The decision to terminate Executive for Cause can be taken only at a duly called meeting of the Board of Directors of the Company at which Executive is present and afforded a
full opportunity to be heard. 

        (d)    Without Cause.    The Company may terminate Executive's employment at any time during
the Employment Term without Cause, as defined in subparagraph (c) above, upon written notice to the Executive. 

        (e)    Good Reason.    Following a Control Transaction, as herein defined, Executive may
terminate this Agreement for Good Reason, as herein defined. A "Control Transaction" shall be: (i) a reorganization, merger or consolidation of the Company unless (A) the Company or a
parent or subsidiary of the Company is the surviving or resulting corporation or (B) the shareholders of the Company immediately before such transaction own a majority of the outstanding voting
stock (after giving effect to the conversion of all shares of Class D Common Stock of the Company) in the surviving or resulting corporation or a parent thereof following the transaction;
(ii) the sale by the Company of all or substantially all of its assets to a purchaser which is not a member of the Group immediately before such sale; or (iii) any transaction or series
of transactions which results 

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in
the acquisition of a majority of the outstanding voting shares (after giving effect to the conversion of all of the outstanding Class D Common Stock of the Company) of the Company by a
purchaser or purchasers (A) who are not currently shareholders of the Company and who acquired such voting shares in a transaction or transactions not involving an offering registered under the
Securities Act of 1933, as amended; (B) which was not a subsidiary of the Company immediately before such acquisition; or (C) a majority of whose outstanding voting shares, immediately
following the acquisition, are owned by persons who were not shareholders of the Company immediately before the acquisition. "Good Reason," as used herein, shall mean (i) a determination by
Executive in good faith that due to acts of the Company or its Successor (as hereinafter defined) occurring after the Control Transaction, he is unable effectively to carry out his duties and
responsibilities as of the time of the Control Transaction; (ii) a material reduction following a Control Transaction in the duties and responsibilities assigned to Executive pursuant to
Section 2 hereof; (iii) in the event of a Control Transaction, a reduction of the Executive's then current Base Salary in effect at the time of such Control Transaction or any reduction
in Executive's incentive payment percentages or the benefits and perquisites as set forth in Section 5 hereof; (iv) the transfer following the Control Transaction of Executive's
principal place of business to a location more than thirty (30) miles from the location of the Company's principal executive office as of the time of the Control Transaction; (v) the
failure or refusal of the Successor, as defined in Section 9 hereof, to assume all duties and obligations of the Company under this Agreement in a form that is reasonably satisfactory to
Executive, as contemplated by Section 9; or (vi) any other material breach by the Company or its Successor of the terms of this Agreement. 

        7.    Effects of Early Termination.    

        (a)   In
the event of the Company's termination of Executive's employment during the Employment Term as a result of his disability, Executive shall be entitled to receive his
Base Salary for the month in which such termination becomes effective and for a period of six (6) months thereafter, without prejudice to any other payments or disability benefits due Executive
under any Employee Benefit Plan as a result of Executive's disability. 

        (b)   In
the event of Executive's death, Executive's legal representative shall be entitled to receive Executive's Base Salary through the end of the sixth month following the
month in which Executive's death occurred, without prejudice to any other payments or benefits due under any Employee Benefit Plan as a result of Executive's death. 

        (c)   In
the event of the Company's termination of Executive's employment during the Employment Term for Cause, as defined in Section 6(c), the Company shall have no
obligation to pay Executive any compensation or benefits other than (i) his then current Base Salary to the date of termination and (ii) payments or benefits due under any Employee
Benefits Plans upon or following such termination. 

        (d)   In
the event the Company terminates Executive's employment during the Employment Term without Cause or Executive terminates his employment during such period for Good
Reason, as defined in Section 6(e), the Company shall pay Executive the following amounts: 

        (i)    Executive's
Base Salary for the balance of the month in which such termination occurs, plus credit for any vacation earned but not taken prior to the date of
termination; 

        (ii)   the
incentive compensation set forth in Section 4 hereof to which the Executive would have received but for the fact of termination, calculated from the
beginning of the fiscal year through the date of termination; 

        (iii)  as
severance payments, commencing on the last day of the month in which the termination occurs and on the last day of each month thereafter, an amount equal to 

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one-twelfth
of the Executive's then current Base Salary for a period of twenty-four (24) months; and 

        (iv)  any
payments due under any Employee Benefits Plans upon or following such termination. 

        In
addition, in the event of, and effective upon, termination under this Section 7(d), 

        (A)  Executive
shall be entitled to (x) acceleration of any unvested stock options under any option grants issued to Executive pursuant to the Company's 1996 Stock
Option Plan, and (y) all rights of the Executive, in the Executive Life Program Collateral Assignment Split Dollar Agreement entered into by the Executive and the Company as of March 1,
1999, as amended including, but not limited to, fully vested rights in and to the death benefits and annual distributions set forth therein, or in any replacement or supplemental plan designed to
provide such benefits; and 

        (B)  any
forfeiture provisions otherwise applicable to awards of restricted stock to the Executive shall cease. 

        (e)   Except
as provided under Section 7(d)(ii), upon termination of his employment hereunder, the Executive, his heirs, representatives, or assigns shall not be
entitled to receive any incentive compensation payments with respect to Executive's employment provided, however, that nothing shall affect Executive's right to receive any previously earned but
unpaid deferred compensation payments to which Executive may be entitled under the Supplemental Executive Retirement Plan. 

        (f)    Except
as provided in Section 7(e), during the period Executive continues to receive payment of his Base Salary following the termination of the Executive's
employment, Executive, his dependents, beneficiaries and estate shall continue to be entitled to all benefits under all Employee Benefit Plans as if Executive were still employed during such period
under this Agreement. Executive, to the extent that he has at the time of termination sufficient service credits or has otherwise satisfied applicable eligibility requirements under the terms of the
Employee Benefit Plans shall be deemed to have retired from the Company as of such time, and shall be eligible for any and all benefits and rights provided to retirees at a comparable executive level
from the Company or the Group under all Employee Benefits Plans. 

        (g)   The
severance compensation and benefits provided in this Section 7 shall constitute Executive's sole and exclusive right to severance payments and benefits upon
termination of Executive's employment and no other severance compensation of any kind, nature and amount shall be payable to Executive in connection with any termination during the Employment Term. 

        8.    Termination Notice.    Any termination by the Company or by Executive hereunder shall be
communicated by written Notice of Termination to the other party hereto. For purposes of this Agreement, a "Notice of Termination" shall mean a written notice which shall indicate the specific
termination provision in this Agreement relied upon and shall set forth in reasonable detail all facts and circumstances claimed to provide a basis for termination of the Executive's employment under
the provision so indicated. Any such notice shall be by registered or certified mail and mailed to Executive at the last address he has filed in writing with the Company, or, in the case of the
Company, to the Secretary at (through November 30, 2002) Four Glenhardie Corporate Center, 1255 Drummers Lane, Suite 200, Wayne, PA 19087-1565; or (on or after December 1,
2002) 1550 Liberty Ridge Drive, Suite 100, Wayne, PA 19087; or such other address to which the Company's principal executive offices are removed during the Employment Term. 

        9.    Successors/Binding Agreement.    The Company shall require any successor or surviving
entity in any Control Transaction ("Successor"), by agreement in form and substance satisfactory to Executive, 

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expressly
to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. Regardless of
whether such agreement is executed, this Agreement shall be binding upon any Successor in accordance with the operation of law and such Successor shall be deemed the "Company" for purposes of this
Agreement. This Agreement shall not be terminated by the voluntary or involuntary dissolution of the Company and shall inure to the benefit of and be enforceable by Executive and his personal or legal
representative, executors, administrators, successors, heirs, distributees, devisees and legatees. 

        10.    Settlement of Claims.    The Company's obligations to make the payments provided for in
this Agreement and otherwise to perform its obligations hereunder shall not be affected by any circumstances, including without any limitation, any set-off (except against the amount
actually owed by the Executive to the Company as evidenced by promissory notes, loan agreements and similar documents executed by the Executive), counterclaim, defense, recoupment, or other rights
which the Company may have against the Executive or others. 

        11.    Non-Exclusivity of Rights.    Nothing in this Agreement shall prevent or
limit the Executive's continuing or future participation in any benefit, bonus, incentive or other plan or program provided by the Company or any of its subsidiaries and for which the Executive may
qualify, nor shall anything herein limit or reduce such rights as the Executive may have under any other agreements with the Company or any of its subsidiaries. Amounts which are vested benefits or
which the Executive is otherwise entitled to receive under any plan or program of the Company or any of its subsidiaries shall be payable in accordance with such plan or program, except as explicitly
modified by this Agreement. 

        12.    Severability.    In the event any provision or portion of this Agreement shall be
determined to be invalid or unenforceable for any reason, the remaining provisions of this Agreement shall remain in full force and effect to the fullest extent permitted by law. 

        13.    Amendment/Waiver.    This Agreement may not be amended, modified, waived or canceled
except by a writing signed by each party hereto. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this
Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or any prior or subsequent time. 

        14.    Entire Agreement.    This Agreement constitutes the entire Agreement between the
parties relative to the employment of the Executive by the Company during the Employment Term and supercedes all prior agreements, if any, understandings and arrangements, oral or written, between the
parties hereto with respect to the subject matter hereof. 

        15.    Governing Law.    This Agreement shall be governed by and construed and enforced in
accordance with the laws of the Commonwealth of Pennsylvania, without giving effect to the conflict of laws principles thereof. Any action brought by any party to this Agreement shall be brought and
maintained in a court of competent jurisdiction in Chester County in the Commonwealth of Pennsylvania. 

        16.    Attorney's Fees.    The Company or its Successor, as applicable, shall pay all
reasonable attorney's fees, costs and related expenses incurred by Executive in ascertaining his rights under this Agreement or in the event of a breach by the Company or its Successor of the terms of
this Agreement. 

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        IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. 

	 	 	TRIUMPH GROUP, INC.
	

 	
 	

By:	

/s/  RICHARD C. GOZON      
 Richard C. Gozon
	

 	
 	

Title:	

Director

	

 	
 	

Executive:	

/s/  LAWRENCE J. RESNICK      
 Lawrence J. Resnick

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Exhibit 10.4

FORM OF EMPLOYMENT AGREEMENTQuickLinks
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Exhibit 10.17    
    

        Supplemental Executive Retirement Plan  

 Prepared For  

 TRIUMPH GROUP, INC.  

 Effective as of January 1, 2003  

 
  
 

    TRIUMPH GROUP, INC.
  
    Supplemental Executive Retirement Plan    
    

ARTICLE I—Purpose: Effective Date  

	1.1.
	Purpose. The purpose of this Supplemental Executive Retirement Plan (hereinafter, the "Plan") is to provide supplemental benefits,
payable primarily upon retirement for certain key employees of TRIUMPH GROUP, INC., and its affiliated or subsidiary companies. It is intended that the Plan will aid in retaining and attracting
individuals of exceptional ability by providing them with these benefits.

	1.2.
	Effective Date. This Plan shall be effective as of January 1, 2003. 

ARTICLE II—Definitions  

        For the purposes of this Plan, the following terms shall have the meanings indicated unless the context clearly indicates otherwise: 

	2.1.
	Beneficiary. "Beneficiary" means the person, persons or entity as designated by the Participant, entitled under Article V to
receive any Plan benefits that may be payable after the Participant's death.

	2.2.
	Board. "Board" means the Board of Directors of the Employer.

	2.3.
	Change of Control. A "Change of Control" shall occur if:

	a)
	Any
Person, together with its affiliates and associates (as such terms are used in Rule 12b-2 of the Securities Exchange Act of 1934, as amended) is or becomes the
Beneficial Owner, directly or indirectly, of 15% or more of the then outstanding shares of common stock of the Employer; or

	b)
	the
following individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who, on the date hereof, constitute the Board and any new
director whose appointment or election by the Board or nomination for election by the Employer's shareholders was approved by a vote of at least a majority of directors then still in office who either
were directors on the date hereof or whose appointment, election or nomination for election was previously so approved;

	c)
	the
Employer consolidates with, or merges with or into, any other Person (other than a wholly owned subsidiary of the Employer), or any other Person consolidates with, or merges into,
the Employer, and, in connection therewith, all or part of the outstanding shares of common stock shall be changed in any way or converted into or exchanged for stock or other securities or cash or
any other property: or

	d)
	a
transaction or series of transactions in which, directly or indirectly, the Employer shall sell or otherwise transfer (or one or more of its subsidiaries shall sell or otherwise
transfer) assets (1) aggregating more than 50% of the assets (measured by either book value or fair market value) or (2) generating more than 50% of the operating income or cash flow of
the Employer and it subsidiaries (taken as a whole) to any other Person or group of Persons.

	

	Notwithstanding
the foregoing, no Change in Control Event shall be deemed to have occurred if there is consummated any transaction or series of integrated
transactions immediately following which the record holders of the common stock of the Employer immediately prior to such transaction or series of integrated transactions own a majority of the
outstanding voting shares and in substantially the same proportion in an entity which owns all or substantially all of the assets of the Employer immediately following such transaction or series of
integrated transactions. 

2

 
	2.4.
	Committee. "Committee" means committee appointed by the Board to administer the Plan pursuant to Article VI.

	2.5.
	Early Retirement Date. "Early Retirement Date" means the date on which a Participant terminates employment with Employer, if such
termination date occurs on or after such Participant's attainment age of sixty-two (62), but prior to the Participant's Normal Retirement Date.

	2.6.
	Employer. "Employer" means TRIUMPH GROUP, INC., a Delaware corporation and
directly or indirectly affiliated subsidiary corporations, any other affiliate designated by the Board, or any successor to the business thereof.

	2.7.
	Normal Retirement Date. "Normal Retirement Date" means the date on which a Participant terminates employment with Employer on or after
attaining age sixty-five (65).

	2.8.
	Participant. "Participant" means any employee who is eligible, pursuant to section 3.1, to participate in this Plan, and who
has not yet received full benefits hereunder.

	2.9.
	Participation Agreement. "Participation Agreement" means the agreement filed by a Participant and approved by the Committee pursuant
to Article III.

	2.10.
	Retirement. "Retirement" means a Participant's termination from employment with Employer at the participant's Early Retirement Date
or Normal Retirement Date, as applicable.

	2.11.
	Supplemental Retirement Benefit. "Supplemental Retirement Benefit" means the annual, lifetime benefit payable under this Plan and
specified in the Participant's Participation Agreement.

	2.12.
	Years of Participation. "Years of Participation" means the number of twelve consecutive month periods commencing on the date
specified in the Participation Agreement and ending with the date of termination of employment with the Company years or other date specified by the Committee in its sole discretion. 

ARTICLE III—Participation  

	3.1.
	Eligibility and Participation. The Compensation Committee of the Board shall have the sole right to set eligibility requirements and
offer participation into the Plan according to the following guidelines:

	a)
	Eligibility. Eligibility to participate in the Plan shall be limited to those select key employees of Employer who hold the title of
Vice President and above and are designated by the Compensation Committee of the Board.

	b)
	Participation. An employee's participation in the Plan shall be effective upon notification to the employee by the Committee of
eligibility to participate, completion of a Participation Agreement and acceptance of each by the Committee. Participation in the Plan shall continue until such time as the Participant terminates
employment with Employer and as long thereafter as the Participant is eligible to receive benefits under this Plan. 

ARTICLE IV—Supplemental Benefits  

	4.1.
	Normal Retirement Benefit. If a Participant terminates services at or after attaining five (5) Years of Participation, or
terminates service at any time after a Change of Control, Employer shall pay to the Participant an annual Supplemental Retirement Benefit equal to the amount set forth in the Participation Agreement
commencing no later than sixty (60) days after the Normal Retirement Date, unless otherwise elected as provided below, and all subsequent payments shall be made on or about the anniversary of
the initial payment. 

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	4.2.
	Early Commencement of Benefit. In the event that the Participant is otherwise entitled to a benefit payable under paragraph 4.1
above, the Participant may elect to have the benefit commence no earlier than the Early Retirement Date. Such earlier commencement shall be permitted only if the Participant makes an irrevocable
election with the Committee no later than twelve (12) months prior to the termination of employment. In the event that the benefits under this Plan are to commence earlier than age
sixty-five (65), the amount of the benefit otherwise payable shall be discounted by 0.66 percent (two-thirds of one percent) for each calendar month by which the
commencement date of the distribution precedes the first day of the calendar month coincident with or next following the Employee's attainment of age sixty-five (65).

	4.3.
	Death Benefits. In the event of death of a Participant, a benefit shall be paid in lieu of any other benefit under this Plan and shall
be equal to ten (10) times the Supplemental Retirement Benefit, reduced by any distributions of Supplemental Retirement Benefit actually distributed prior to the Participant's death. Such Death
Benefit shall be paid in the form of a lump sum to the Participant's Beneficiaries as soon as practical after the death of the Participant.

	4.4.
	Termination Benefits. If a Participant terminates employment with Employer with less than five (5) Years of Participation
(unless such termination occurs after a Change in Control), or if the participant is terminated For Cause, as provided under Section 4.6, below, no benefit shall be due and payable under this
Plan.

	4.5.
	Non-Competition. As a condition of continuing to receive benefits under this Plan as set forth in this Agreement, the
Participant must refrain from competing or interfering with the Employer while they are a Participant under this Plan or are eligible to receive benefit payments pursuant to this Plan. For purposes of
this Plan, whether the Participant has entered into competition with the Employer shall be determined by the Board, and shall include becoming an employee, owner, stockholder or otherwise associated
with an organization or individuals who perform substantially similar service as those performed by the Employer as of the time of the termination of the Participant or markets similar products or
services to the clients of the Employer.

	4.6.
	Termination For Cause. Notwithstanding anything to the contrary, no Supplemental Retirement Benefit shall be payable in the event that
the Participant is terminated For Cause. For purpose of this Plan, whether a Participant has had his or her employment terminated For Cause shall be determined by the Board and shall mean a
termination of employment by reason of a finding that the Participant (i) acted dishonestly or engaged in willful misconduct in the performance of his or her duties for the Employer,
(ii) breached a fiduciary duty to the Employer for personal profit to him or her self, or (iii) willfully violated any law, rule or regulation (other than traffic violations or similar
offenses) or any final cease and desist order.

	4.7.
	Withholding; Payroll Taxes. Employer shall withhold from payments hereunder any taxes required to be withheld from such payments under
local, state or federal law. A Beneficiary, however, may elect not to have withholding of federal income tax pursuant to Section 3405 (a) (2) of the Code, or any successor provision
thereto.

	4.8.
	Payment to Guardian. If a Plan benefit is payable to a minor or a person declared incompetent or to a person incapable of handling the
disposition of property, the Committee may direct payment to the guardian, legal representative or person having the care and custody of such minor, or incompetent person. The Committee may require
proof of incompetency, minority, incapacity or guardianship as it may deem appropriate prior to distribution. Such distribution shall completely discharge the Committee and Employer from all liability
with respect to such benefit. 

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ARTICLE V—Beneficiary Designation  

	5.1.
	Beneficiary Designation. Each Participant shall have the right, at any time, to designate one (1) or more persons or entity as
Beneficiary (both primary as well as secondary) to whom benefits under this Plan shall be paid in the event of a Participant's death. Each Beneficiary designation shall be in a written form prescribed
by the Committee and shall be effective only when filed with the Committee during the a Participant's lifetime.

	5.2.
	Changing Beneficiary. Any Beneficiary designation may be changed by a Participant without the consent of the previously named
Beneficiary by the filing of a new Beneficiary designation with the Committee. The filing of a new designation shall cancel all designations previously filed.

	5.3.
	No Beneficiary Designation. If any Participant fails to designate a Beneficiary in the manner provided above, if the designation is
void, or if the Beneficiary designated by a deceased Participant dies before the Participant or before complete distribution of the Participant's benefits, the Participant's Beneficiary shall be the
person in the first of the following classes in which there is a survivor:

	a)
	The
Participant's surviving spouse;

	b)
	The
Participant's children in equal shares, except that if any of the Participant's children predeceases the Participant but leaves surviving children of their own, then such surviving
children shall take by right of representation the share the deceased child of the Participant would have take if living;

	c)
	The
Participant's estate.

	5.4.
	Effect of Payment. Payment to the Beneficiary shall completely discharge the Employer's obligations under this plan. 

ARTICLE VI—Administration  

	6.1.
	Committee; Duties. The Plan shall be administered by the Committee, which shall be appointed by the Board. The Committee shall have
the authority to make, amend, interpret, and enforce all appropriate rules and regulations for the administration of the Plan and decide or resolve any and all questions, including interpretations of
the Plan, as may arise in such administration. A majority vote of the Committee members shall control any decision. Members of the Committee may be Participants under this Plan.

	6.2.
	Agents. The Committee may, from time to time, employ agents and delegate to them such administrative duties as it sees fit, and may
from time to time consult with counsel who may be counsel to the Employer.

	6.3.
	Binding Effect of Decisions. The decision or action of the Committee with respect to any question arising out of or in connection with
the administration, interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be final, conclusive and binding upon all persons having any interest in the
Plan.

	6.4.
	Indemnity of Committee. Members of the Committee are serving at the request of the Employer and entitled to the benefits of the
indemnification provisions in the Employer's By Laws. As a result, the Employer shall indemnify and hold harmless the members of the Committee against any and all claims, loss, damage, expense or
liability arising from any action or failure to act with respect to this Plan on account of such member's service on the Committee, in accordance with the By Laws of the Employer. 

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ARTICLE VII—Claims Procedure  

	7.1.
	Claim. Any person or entity claiming a benefit, requesting an interpretation or ruling under the Plan, or requesting information under
the Plan (hereinafter referred to as "Claimant") shall present the request in writing to the Committee, which shall respond in writing as soon as practicable.

	7.2.
	Denial of Claim. If the claim or request is denied, the written notice of denial shall state:

	a)
	The
reason for denial, with specific reference to the Plan provisions on which the denial is based;

	b)
	A
description of any additional material or information required and an explanation of why it is necessary; and

	c)
	An
explanation of the Plan's claims review procedure.

	7.3.
	Review of Claim. Any Claimant whose claim or request is denied or who has not received a response within sixty (60) days may
request a review by notice given in writing to the Committee. Such request must be made within sixty (60) days after receipt by the Claimant of the written notice of denial, or in the event
Claimant has not received a response sixty (60) days after receipt by the Committee of Claimant's claim or request. The claim or request shall be reviewed by the Committee which may, but shall
not be required to, grant the Claimant a hearing. On review, the Claimant may have representation, examine pertinent documents, and submit issues and comments in writing.

	7.4.
	Final Decision. The decision on review shall normally be made within sixty (60) days after the Committee's receipt of
Claimant's claim or request. If an extension of time is required for a hearing or other special circumstances, the Claimant shall be notified and the time limit shall be one hundred twenty
(120) days. The decision shall be in writing and shall state the reason and the relevant Plan provisions. In the event the Committee denies the Claimant's claim after a review hereunder, the
claim shall be immediately referred to the Chairman of the Board's Compensation Committee for final disposition. All decisions on review by the Compensation Committee Chairman shall be made as soon as
practical, but in any event within 90 days of the date the Compensation Committee Chairman receives the referral, and shall be final and bind all parties concerned. 

ARTICLE VIII—Termination, Suspension or Amendment  

	8.1.
	Termination, Suspension or Amendment of Plan. The Board may, in its sole discretion, amend, terminate or suspend the Plan at any time,
in whole or in part.    Any amendment may provide different benefits or amounts of benefits from those herein set forth; provided, however, no such termination, suspension or amendment
shall adversely affect the benefits of Participants which have accrued prior to such action, the benefits of any Participant who has previously retired, or the benefits of any Beneficiary of a
Participant who has previously died, except as otherwise determined by the Board under Section 9.1 with respect to any Participant. 

ARTICLE IX—Miscellaneous  

	9.1.
	Unfunded Plan. This Plan is an unfunded plan maintained primarily to provide deferred compensation benefits for a select group of
"management or highly-compensated employees" within the meaning of Sections 201, 301, and 401 of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), and therefore is exempt from
the provisions of Parts 2, 3 and 4 of Title I of ERISA. Accordingly, the Board may terminate the Plan and make no further benefit payments, or remove certain employees as Participants if it is
determined by the United States 

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Department
of Labor, a court of competent jurisdiction, or an opinion of counsel that the Plan constitutes an employee pension benefit plan within the meaning of Section 3(2) of ERISA (as
currently in effect or hereafter amended) which is not so exempt. 

	9.2.
	Employer Obligation. The obligation to make benefit payments to any Participant under the Plan shall be an obligation solely of the
Employer, and shall not be an obligation of another employer.

	9.3.
	Unsecured General Creditor. Except as provided in Section 9.4, Participants and Beneficiaries shall be unsecured general
creditors, with no secured or preferential right to any assets of Employer or any other party for payment of benefits under this Plan. Any property held by Employer for the purpose of generating the
cash flow for benefit payments shall remain its general, unpledged and unrestricted assets. Employer's obligation under the Plan shall be an unfunded and unsecured promise to pay money in the future.

	9.4.
	Trust Fund. Employer shall be responsible for the payment of all benefits provided under the Plan. At its discretion, Employer may
establish one (1) or more trusts, with such trustees as the Board may approve, for the purpose of providing for the payment of such benefits. Although such a trust shall be irrevocable, its
assets shall be held for payment of all Employer's general creditors in the event of insolvency. To the extent any benefits provided under the Plan are paid from any such trust, Employer shall have no
further obligation to pay those benefits directly to the Participant or Beneficiary. If not paid from the trust, such benefits shall remain the obligation of Employer.

	9.5.
	Nonassignability. Neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge,
anticipate, mortgage or otherwise encumber, transfer, hypothecate or convey in advance of actual receipt the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which
are, expressly declared to be unassignable and nontransferable. No part of the amounts payable shall, prior to actual payment, be subject to seizure or sequestration for the payment of any debts,
judgments, alimony or separate maintenance owed by a Participant or any other person, nor be transferable by operation of law in the event of a Participant's or any other person's bankruptcy or
insolvency.

	9.6.
	Not a Contract of Employment. This Plan shall not constitute a contract of employment between Employer and the Participant. Nothing in
this Plan shall give a Participant the right to be retained in the service of Employer or to interfere with the right of Employer to discipline or discharge a Participant at any time.

	9.7.
	Protective Provisions. A Participant shall cooperate with Employer by furnishing any and all information requested by Employer in
order to facilitate the payment of benefits hereunder, and by taking such physical examinations as Employer may deem necessary and by taking such other action as may be requested by Employer.

	9.8.
	Governing Law. The provisions of this Plan shall be construed and interpreted according to the laws of the State of Delaware, except
as may be preempted by federal law.

	9.9.
	Validity. If any provision of this Plan shall be held illegal or invalid for any reason, said illegality or invalidity shall not
affect the remaining parts hereof, but this Plan shall be construed and enforced as if such illegal and invalid provision had never been inserted herein.

	9.10.
	Notice. Any notice or filing required or permitted under the Plan shall be sufficient if in writing and hand delivered or sent by
registered or certified mail. Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark on the receipt for registration or
certification. Mailed notice to the Committee shall be directed to the Employer's address. Mailed notice to a Participant or Beneficiary shall be directed to the individual's last known address in
Employer's records. 

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	9.11.
	Successors. The provisions of this Plan shall bind and inure to the benefit of Employer and its successors and assigns. The term
successors as used herein shall include any corporate or other business entity which shall, whether by merger, consolidation, purchase or otherwise acquire all or substantially all of the business and
assets of Employer, and successors of any such corporation or other business entity. 

	TRIUMPH GROUP, INC.
	
By:	

/s/  RICHARD M. EISENSTAEDT      

	Its:	Vice President and General Counsel

	Dated:	January 1, 2003

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QuickLinks

Exhibit 10.17

TRIUMPH GROUP, INC. Supplemental Executive Retirement Plan

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