Document:

Exhibit

MOOG INC. 
DEFINED CONTRIBUTION 
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
ARTICLE 1 
PURPOSE, DEFINITIONS AND EFFECTIVE DATE
Section 1.1.    Purpose.  The purpose of the Moog Inc. Defined Contribution Supplemental Executive Retirement Plan (the “Plan”) is to reward a select group of management or highly compensated employees for their valuable services to Moog Inc. (the “Company”) by providing them with the ability to receive nonqualified deferred compensation on the terms established in this Plan.
Section 1.2.    Definitions.  For purposes of the Plan, the following terms have the definitions stated below, unless the context clearly indicates otherwise: 
(a)    “Account” means the bookkeeping Account established by the Company to record the amount of a Participant’s Benefit in accordance with Article 4. 
(b)    “Base Salary” means a Participant’s regular base pay from the Company for a payroll period, including any amount that (i) is contributed by the Company pursuant to a salary reduction agreement, is not includable in the gross income of the Participant under Code Section 125, 132(f)(4), 402(e)(3), or 402(h)(1)(B), and that would otherwise constitute regular base pay, or (ii) that is credited to a Participant’s account as an elective deferral contribution under any other nonqualified deferred compensation plan and that would otherwise constitute regular base pay.  Base Salary does not include any employer matching or other contributions (other than elective deferrals) made for the Participant’s benefit to any qualified or nonqualified plans, or any bonuses, incentive pay, equity compensation, or other special form of allowance or compensation paid or payable to the Participant.  
(c)    “Beneficiary” means any one or more persons, corporations or trusts, or any combination thereof, last designated by a Participant to receive any Benefit provided under the Plan upon his or her death.  Any designation made under this Plan will be revocable, must be in writing, and will be effective when delivered to the Company at its principal office.  If the Company determines, in its sole discretion, that there is no valid designation, the Beneficiary will be the Participant’s estate.
(d)    “Benefit” means all benefits provided under this Plan.  The Benefit, with respect to any Participant, consists of all amounts in the Participant’s Account, as adjusted in accordance with Article 4.
(e)    “Board” means the Board of Directors of the Company.
(f)    “Change in Control” means the first to occur of any of the following events: 

(1)    The date any one person, or more than one person acting as a group, acquires ownership of Common Stock that, together with Common Stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of Common Stock.
(2)    The date any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons), ownership of Common Stock possessing 30% or more of the total voting power of Common Stock.
(3)    The date a majority of the members of the Company’s Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Company’s Board before the date of the appointment or election.
(4)    The date of a merger or consolidation by the Company with or into another person that results in the shareholders of the Company (determined immediately prior to the merger or consolidation) owning less than 50% of the surviving company.
For purposes of this Plan, a “Change in Control” will not be considered to have occurred unless the event constitutes a change in control event under Code Section 409A.  Further, for purposes of Sections 1.2(f)(1) and (2), the acquisition of Common Stock by the following persons will not result in a Change in Control: (i) any employee benefit plan (or related trust) sponsored or maintained by the Corporation, or (ii) any trust, the assets of which are considered owned by the Corporation under subpart E of Part I of subchapter J of the Code.
(g)    “Code” means the Internal Revenue Code of 1986, as amended.
(h)    “Common Stock” means the Class A and Class B $1.00 par value shares of the capital stock of the Company, as well as any other class of capital stock of the Company, including voting or nonvoting common stock or preferred stock.
(i)    “Company Contribution” means a contribution made by the Company to an Account in accordance with Section 3.1. 
(j)    “Compensation Committee” means the Executive Compensation  Committee of the Board.
(k)    “Contribution Category” means the category assigned to a Participant under Section 3.1 and Appendix A for purposes of determining the level of Company Contributions made to the Participant under the Plan.
(l)    “Corporation” means the Company and its subsidiaries and affiliates.
(m)    “Disability” means a mental or physical disability that renders a Participant unable to perform his or her regular duties for the Company, as determined by the 

    
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Compensation Committee in its sole discretion.  The Compensation Committee may, in its sole discretion, retain an expert to advise it with regard to the existence of a Participant’s Disability.
(n)    “Discretionary Contribution” means a contribution made by the Company to an Account in accordance with Section 3.2.
(o)    “Employee” means an employee of the Corporation.
(p)    “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 
(q)    “Executive” means an Employee who is elected as a corporate officer of the Company at a level of vice president or above.
(r)    “Participant” means an Employee selected to participate in the Plan in accordance with Article 2.
(s)    “Payment Commencement Date” means the date a Participant’s Benefit is paid or commences to be paid, as provided in Sections 5.1 and 6.1.
(t)    “Plan Year” means the 12-month period beginning October 1 and ending the following September 30, except that the first Plan Year will be the period beginning on the Effective Date and ending on September 30, 2016. 
(u)     “Rabbi Trust” means the rabbi trust, if any, established by the Company under Section 4.4. 
(v)    “Separation Date” means the date a Participant incurs a Separation from Service.
(w)    “Separation from Service” means the termination of a Participant’s employment with the Company for any reason other than death.  A Separation from Service under this Plan must be interpreted to comply with the requirements for a “separation from service” under Code Section 409A.
(x)    “Year of Service” means a consecutive 12-month period during which an Employee continuously performs services for the Corporation as an Employee.  For purposes of the Plan, Years of Service are measured in years and completed months, beginning with a Participant’s last date of hire with the Corporation.  A Participant will receive credit for services performed as an Employee prior to the Effective Date, and with respect to any Years of Service in which the Participant was not an Executive. A Participant who becomes an Employee as a result of the acquisition of an acquired business by the Company will be granted Years of Service credit for prior employment with the acquired business.  
Section 1.3.    Effective Date.  Except as otherwise provided, the effective date of this Plan is April 1, 2016.

    
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ARTICLE 2     
PARTICIPATION AND VESTING
Section 2.1.    Eligibility for Participation.  An Executive will be eligible to participate in the Plan as of the later of (a) the Effective Date of the Plan, or (b) the date that he or she is selected for participation in the Plan by the Board.  
Section 2.2.    Period of Participation.  An Executive selected for participation in the Plan will become a Participant on the date established by the Board.  A Participant will cease to be an active Participant on the earliest to occur of (i) the Participant’s Separation Date, (ii) the date the Participant otherwise ceases to be an Executive, (iii) the date of the Participant’s death, (iv) the date the Participant’s eligibility is terminated by the Board in its sole discretion, or (v) the date the Participant attains age 65, unless the Board in its sole discretion determines that the Participant will continue to be an active Participant following his or her attainment of age 65.
Section 2.3.    Vesting.  
(a)    In General.  A Participant will become 100% vested in his or her Benefit as of the later of the date the Participant commences participation in the Plan or completes 3 Years of Service.  Except as otherwise provided in this Section 2.3, if a Participant incurs a Separation from Service prior to completing 3 Years of Service, the Participant will automatically forfeit his or her entire Benefit without any further action required by the Company.
(b)    Death.  If an unvested Participant dies before incurring a Separation from Service, the Participant will become 100% vested in his or her Benefit as of his or her date of death.
(c)    Disability.  If an unvested Participant incurs a Separation from Service on account of Disability, the Participant will become 100% vested in his or her Benefit as of his or her Separation Date.
(d)    Change in Control.  If there is a Change in Control before an unvested Participant incurs a Separation from Service, a Participant will become 100% vested in his or her Benefit as of the date of the Change in Control.
ARTICLE 3     
CONTRIBUTIONS
Section 3.1.    Company Contributions.  Each Participant will be assigned by the Board to a Contribution Category for purposes of determining the level of Company Contributions made on his or her behalf under the Plan.  For each payroll period during which a Participant is an active Participant in the Plan, the Company will make a Company Contribution on behalf of the Participant in an amount equal to the percentage of Base Salary specified for the Participant’s Contribution Category in the attached Appendix A, which may be amended from 

    
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time to time in the Board’s discretion.  Company Contributions with respect to a Participant will commence as of the first full payroll period that begins after the expiration of the 30-day election period described in Section 5.1.
Section 3.2.    Discretionary Contributions.  The Board, in its sole discretion, may authorize a Discretionary Contribution to be made on behalf of one or more Participants for a Plan Year in an amount to be determined by the Board in its sole discretion.  The fact that the Board authorizes a Discretionary Contribution to be made on behalf of one or more Participants does not obligate the Board to authorize a Discretionary Contribution to be made on behalf of any other Participant.  Further, the fact that the Board authorizes a Discretionary Contribution to be made on behalf of a Participant for a Plan Year does not obligate the Board to authorize a Discretionary Contribution to be made on behalf of the Participant for any other Plan Year.
ARTICLE 4     
ACCOUNTS AND INVESTMENTS
Section 4.1.    Establishment of Account.  The Company will establish and maintain for each Participant a bookkeeping Account to which it will credit all Company Contributions and Discretionary Contributions made on behalf of the Participant under Article 3.  Company Contributions will be credited to a Participant’s Account coincident with, or as soon as administratively practicable following, the payroll date to which the Company Contribution relates.  Discretionary Contributions will be credited to a Participant’s Account as of the date determined by the Board in its sole discretion.
At no time may any Participant be deemed to have any right, title, or interest, legal or equitable, in any asset of the Company, including but not limited to any assets or investments held in the Participant’s Account.  The Participant will have no more rights to the assets and investments in the Account than any other unsecured creditor.
Section 4.2.    Investment of Account.  Participants will be permitted to direct the Company as to the investment of their Accounts in accordance with administrative rules established by the Company.  In this regard, a Participant will be permitted to select from among the investment options made available from time-to-time by the Company.  The Company may establish one or more default investment funds that a Participant’s Account will be invested in if a Participant fails to direct the Company as to the investment of his or her Account.  Notwithstanding anything else in this Section, the Company may, in its sole discretion, limit investment of a Participant’s Account to a single investment fund or vehicle.  In addition, the Company may, but is not required, to invest amounts equal to the value of a Participant’s Account in the investment(s) selected by the Participant.  However, earnings or losses with respect to a Participant’s Account will be determined in accordance with the investment performance of the Participant’s selected investments, regardless of whether or not the Company actually invests amounts equal to the Participant’s Account in the investment(s) selected by the Participant.  The Company will not be liable to any Participant or Beneficiary for any loss or other claim arising out of investments under the Plan except for that caused by the Company’s gross negligence or willful misconduct.

    
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Section 4.3.    Adjustments to Account.  Each Participant’s Account will be adjusted by the Company no less often than monthly to reflect (a) the value of the contributions credited to the Account, (b) any earnings or losses on the Account balance in accordance with Section 4.2, and (c) any payments made to the Participant or the Participant’s Beneficiary.  The amounts allocated and the adjustments made comprise the Participant’s Account at any time.
Section 4.4.    Rabbi Trust.  Except as otherwise provided in this Section, the Company may, but is not required to establish a Rabbi Trust to which the Company will contribute all amounts credited to a Participant’s Account in accordance with Articles 3 and 4.  A Participant’s interest in the Account and in the Rabbi Trust, if any, is limited to the right to receive payments as provided under this Plan and the Rabbi Trust, if any, and the Participant’s position is that of general unsecured creditor of the Company.
ARTICLE 5     
PAYMENT ELECTIONS
Section 5.1.    Payment Election.  During the 30-day period that commences on the date a Participant first becomes eligible to participate in the Plan under Article 2, the Participant may elect to receive payment of his or her vested Benefit on account of a Separation from Service in a lump sum or in 5, 10, or 15 annual installments.  During that same 30-day period, the Participant, subject to the rules of Section 8.12(c), may also elect to have payment of that vested Benefit commence or be paid within 90 days of the Participant’s Separation Date, or on the six-month or 12-month anniversary of the Participant’s Separation Date.  If a Participant fails to submit a timely payment election in a form acceptable to the Company in its sole discretion, then the Participant will be deemed to have elected to have payment of his or her vested Benefit paid, subject to the rules of Section 8.12(c), in a lump sum within 90 days of the Participant’s Separation Date.  Subject to Section 5.2, the Participant’s election (or deemed election) will become irrevocable at the expiration of the election period.
Section 5.2.    Subsequent Changes in Payment Election.  If the conditions of this Section 5.2 are satisfied, a Participant may make a one-time election to change the time and form of payment in which his or her vested Benefit is payable on account of a Separation from Service.  The requirements of this Section 5.2 are satisfied only if the following conditions are met:
(a)    The subsequent election is made in a form that is acceptable to the Company in its sole discretion;
(b)    A Participant’s subsequent election will not take effect until at least 12 months after the date the subsequent election is made; 
(c)    Any payment with respect to which a Participant’s subsequent election applies will be paid to the Participant on a date that is at least 5 years after the date the payment otherwise would have been paid or commence to be paid to the Participant; 

    
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(d)    In the case of a payment to be made at a specified time or pursuant to a fixed schedule, the subsequent election is made not less than 12 months before the date the payment is scheduled to be paid or commence to be paid; and
(e)    The subsequent election otherwise complies with Code Section 409A.
Section 5.3.    Installment Elections.  If a Participant elects to receive payment of his or her vested Benefit on account of a Separation from Service in 5, 10, or 15 annual installments, then the first annual installment will be determined by multiplying the value of the Participant’s Account as of the Participant’s Payment Commencement  Date (or, if the Company is unable to value the Participant’s Account as of the Participant’s Payment Commencement Date, the most recent date preceding the Participant’s Payment Commencement Date as of which the Participant’s Account was valued pursuant to Section 4.3) by a fraction, (i) the numerator of which is 1, and (ii) the denominator of which is the total number of annual installments payable to the Participant.  Any subsequent annual installments will be paid to the Participant as of the anniversary of the Participant’s Payment Commencement Date.  The amount to be paid to a Participant for any subsequent annual installment will be determined in the same manner as with the first installment, except (i) the denominator of the fraction will equal the total number of remaining installments payable to the Participant, and (ii) the Participant’s entire remaining Benefit will be paid to the Participant as part of the last installment payment.
ARTICLE 6     
TIME OF PAYMENT
Section 6.1.    Payment on Account of Separation from Service.  Subject to Section 8.12(c), a Participant’s vested Benefit will be paid (or commence to be paid) to the Participant in accordance with the Participant’s election or deemed election under Section 5.1.
Section 6.2.    Payment on Account of a Change in Control.  If a Change in Control occurs before payment of a Participant’s entire vested Benefit has been made under the Plan, any remaining amounts in the Participant’s Account will be paid to the Participant in a single lump sum payment within 90 days following the occurrence of the Change in Control.
Section 6.3.    Death Benefits.  If a Participant dies before payment of the Participant’s entire Benefit has been made under the Plan, any remaining amounts in the Participant’s Account will be paid to the Participant’s Beneficiary in a single lump sum payment as soon as reasonably practicable following the date on which the Participant dies, but in no event more than 90 days after the Participant’s death. 
Section 6.4.    Unforeseeable Emergency.  In the event a Participant suffers an Unforeseeable Emergency, the Company, in its sole discretion, may permit the Participant to withdraw a portion of his or her Account under the Plan.  The determination of whether an Unforeseeable Emergency exists will be made by the Company based on all relevant facts and circumstances.  For purposes of this Plan an “Unforeseeable Emergency” is defined as a severe financial hardship to the Participant (i) resulting from an illness or accident of the Participant, the 

    
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Participant’s spouse, or the Participant’s dependent (as defined in Code Section 152(a) without regard to Code Sections 152(b)(1), (b)(2), and (d)(1)(B)); (ii) loss of the Participant’s property due to casualty; or (iii) other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the Participant’s control.  The amount of the withdrawal will be limited to the amount needed to satisfy the Unforeseeable Emergency, plus taxes reasonably anticipated to be owed by the Participant as a result of the withdrawal.  A withdrawal will not be allowed under this provision to the extent that the emergency is or may be relieved through reimbursement or compensation by insurance or otherwise, or by liquidation of the Participant’s assets (to the extent such liquidation would not itself cause a severe financial hardship).  Withdrawals under this Section will be determined by the Company in compliance with Code Section 409A and related regulations, rulings and procedures.
Section 6.5.    De Minimis Cash-Outs.  Notwithstanding any other provision of this Plan, the Company, in its sole discretion, may pay a Participant’s Benefit to the Participant or the Participant’s Beneficiary in a single lump sum payment at any time, provided that (a) the value of the Participant’s Account at the time of the distribution does not exceed the applicable dollar amount under Code Section 402(g)(1)(B), and (b) the payment complies with the rules of Code Section 409A (including, but not limited to, the requirement that any mandatory lump sum cash out payment result in the termination and liquidation of the Participant’s entire interest under the Plan and any plan required to be aggregated with the Plan under Code Section 409A).
ARTICLE 7     
AMENDMENT, SUSPENSION, OR TERMINATION
Section 7.1.    Amendment, Suspension, or Termination.  The Company may amend, suspend or terminate the Plan, in whole or in part, at any time by action of the Board.
Section 7.2.    No Reduction.  Except as required by law, no amendment, suspension or termination may adversely affect the Benefit otherwise available to a Participant under the Plan, determined as if the Participant had ceased being a Participant on or before the effective date of such amendment, suspension, or termination.  The value of a Participant's Account, if any, determined as of the effective date of any amendment, suspension, or termination will continue to be adjusted in accordance with Section 4.3 and payable in accordance with Article 5.  Notwithstanding the preceding sentence, the Board, in its sole discretion, may terminate the Plan and cause the Company to pay all Benefits in a single lump sum payment to Participants and Beneficiaries to the extent permitted by Code Section 409A.
ARTICLE 8     
GENERAL PROVISIONS
Section 8.1.    Funding.  The Plan constitutes an unfunded arrangement and has the status as an unfunded plan maintained for the purpose of providing deferred compensation for a select group of management or highly compensated employees for purposes of Title 1 of ERISA.  All Benefits under this Plan are payable solely from the Company’s general assets, and 

    
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a Participant or Beneficiary has only the rights of a general unsecured creditor of the Company with respect to any Benefit payable under this Plan.
Section 8.2.    Non-assignability.  No Benefit under this Plan may be assigned or alienated, or be subjected by attachment or otherwise to the claims of creditors of any Participant or Beneficiary. 
Section 8.3.    Withholding.  The Company has the right to deduct or withhold from the Benefit paid under the Plan (or from other amounts payable to the Participant, if necessary) all taxes that are required to be deducted or withheld under any provision of law (including, but not limited to, U.S. Social Security and Medicare taxes (FICA) and income tax withholding) now in effect or that may become effective any time during the term of the Plan.
Section 8.4.    Administration.  The Plan is administered by the Compensation Committee, which has full authority and power to: (a) administer the Plan; (b) construe the Plan terms; (c) make factual determinations; (d) resolve any ambiguities or inconsistencies; (e) determine eligibility for participation or benefits; and (f) decide all questions arising in the Plan administration, interpretation or application.
The Compensation Committee may delegate any of its administrative duties under the Plan to any one or more persons, except that no person will be permitted to participate in any decision affecting his or her entitlement to a Benefit under the Plan.
Section 8.5.     Exclusivity of Plan.  The Plan is intended solely for the purpose of providing deferred compensation to the Participants to the mutual advantage of the parties.  Nothing contained in the Plan in any way affects or interferes with the right of a Participant to participate in any other benefit plan in which he or she may be entitled to participate. 
Section 8.6.    No Right to Continued Service. Neither the Plan nor any of its provisions may be construed as giving any Participant a right to continued employment with the Corporation.
Section 8.7.    Notice.  Each notice and other communication concerning the Plan must be in writing and is deemed given only when (a) delivered by hand, (b) transmitted by telex, telecopier, or email (provided that a copy is sent at approximately the same time by registered or certified mail, return receipt requested), or (c) received by the addressee, if sent by registered or certified mail, return receipt requested, or by Express Mail, Federal Express or other overnight delivery service.  Notice must be given to the Company at its principal office and to a Participant at his or her last known address (or to such other address or telecopier number as a party may specify by notice given to the other party in accordance with this Section). 
Section 8.8.    Claims Procedures.  If a Participant or the Participant's Beneficiary does not receive the Benefit to which he or she believes he or she is entitled, that person may file a claim in writing with the Compensation Committee.  The Compensation Committee will establish a claims procedure with the following provisions:

    
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(a)    Notification of Decision.  If the claim is wholly or partially denied, the Compensation Committee will notify the claimant in writing within 90 days after the claim has been received (unless special circumstances require an extension of up to 90 additional days).  The written notification must state the specific reasons for the denial of the claim and the specific references to the Plan provisions on which the denial is based.  It must describe any additional material the claimant may need to submit to the Compensation Committee to have the claim approved and must give the reasons the material is necessary.  In addition, the notice must explain the claim review procedure and be written in a manner calculated to be understood by the Participant or the Beneficiary.
(b)    Claim Review Procedure.  If the Participant or Beneficiary receives a notice that the claim has been denied, the claimant, or his or her authorized representative, may appeal to the Compensation Committee for a review of the claim.  The claimant must submit a request for review in writing to the Compensation Committee no later than 60 days after the date the written notice of the claim denial is received.  The claimant, or his or her representative, may then review Plan documents that pertain to the claim and may submit issues and comments in writing to the Compensation Committee.  The Compensation Committee must give the claim for review a full and fair review and must deliver to the claimant a written determination of the claim, including specific reasons for the decision, not later than 60 days after the date the Compensation Committee received the request for review (unless special circumstances require an extension of up to 60 additional days).  The decision of the Compensation Committee will be final and conclusive.
Section 8.9.    New York Law Controlling.  The Plan will be construed in accordance with the laws of the State of New York. 
Section 8.10.    Severability.  Every provision of the Plan is intended to be severable.  If any provision of the Plan is illegal or invalid for any reason whatsoever, the illegality or invalidity of that provision will not affect the validity or legality of the remainder of the Plan, and the Plan will be construed and enforced as if the illegal or invalid provision had never been made part of the Plan. 
Section 8.11.    Binding on Successors.  The Plan is binding upon the Participants and the Company, their heirs, successors, legal representatives and assigns. 
Section 8.12.    Code Section 409A Provisions.
(a)    409A Compliance It is intended that all terms and payments under this Plan comply with and be administered in accordance with Code Section 409A so as not to subject a Participant to payment of interest or any additional tax under Code Section 409A.  All terms of the Plan that are undefined or ambiguous will be interpreted in a manner that is consistent with Code Section 409A if necessary to comply with Code Section 409A.  If payment or provision of any amount or Benefit under this Plan at the time specified would subject such amount or Benefit to any additional tax under Code Section 409A, the payment or provision of such amount or Benefit will be postponed, if possible, to the earliest commencement date on which the payment or provision of such amount or Benefit could be made without incurring such 

    
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additional tax.  The Company will, to the extent reasonably possible, amend the Plan in order to comply with Code Section 409A and avoid the imposition of any interest or additional tax under Code Section 409A; provided, however, that no amendment is required if such amendment would change the amount payable by the Company under the Plan.
(b)    Single Payment.  For any Benefit payable in installments under this Plan, the entire series of installments will be treated as a single payment for purposes of Code Section 409A.
(c)    Six-Month Delay.  Notwithstanding any other provision of the Plan, if it is determined that a Participant is a Specified Employee and that any Benefit payable under the Plan (a) is subject to Code Section 409A and (b) is payable solely because the Participant has incurred a Separation from Service, then the Participant’s Benefit will not be paid (or begin to be paid) prior to the date that is six months after the Separation Date (or, if earlier, the date of the Participant’s death).  Payment of any Benefit to which the Participant would otherwise be entitled during the first six months following the Separation Date will be accumulated and paid on the day that is six months after the Separation Date.  For purposes of the Plan, a “Specified Employee” is a Participant who is determined to be a “specified employee” within the meaning of Code Section 409A.
(d)    409A Liability Limitation.  Benefits under the Plan are intended to comply with the rules of Code Section 409A and will be construed accordingly.  However, the Company will not be liable to any Participant or Beneficiary with respect to any adverse tax consequences arising under Section 409A or other provision of the Code.

Moog Inc.

Date:  March 4, 2016             By:  /s/ Gary Szakmary        
Gary Szakmary
Vice President & Chief Human Resources Officer

    
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APPENDIX A
Schedule of Company Contributions
	
			
	Contribution Category
	Contribution Level: Percentage of Base Salary
	 

	1.  Initial Participants:  Participants who were first elected as corporate officers and became Executives in 2015
	40% of Base Salary
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

031407.00003 Business 14665247v3

    
- 12 -Exhibit

Exhibit 10(a)

Form of Cash-Settled Restricted Stock Units Award Agreement
for Grants on or after February 12, 2016

This document contains your Award Agreement under the Bank of America Corporation Key Employee Equity Plan.

What you need to do

		
	1.
	Review the Award Agreement to ensure you understand its provisions. With each award you receive, provisions of your Award Agreement may change so it is important to review your Award Agreement.

		
	2.
	Print the Award Agreement and file it with your important papers.

		
	3.
	Designate your beneficiary on the Benefits OnLine® Beneficiary tab.

KEY EMPLOYEE EQUITY PLAN
RESTRICTED STOCK UNITS AWARD AGREEMENT
	
	
	Granted To : 

	Grant Date :

	Grant Type :

	Grant Code :

	Number Granted :

Note: The number of Restricted Stock Units is based on a “divisor price” of $[price], which is the ten (10)-day average closing price of Bank of America Corporation common stock for the ten (10) business days immediately preceding and including [date].

This Restricted Stock Units Award Agreement and all Exhibits hereto (the “Agreement”) is made between Bank of America Corporation, a Delaware corporation (“Bank of America”), and you, an employee of Bank of America or one of its Subsidiaries.

Bank of America sponsors the Bank of America Corporation Key Employee Equity Plan (the “Stock Plan”). A Prospectus describing the Stock Plan has been delivered to you. The Stock Plan itself is available upon request, and its terms and provisions are incorporated herein by reference. When used herein, the terms which are defined in the Stock Plan shall have the meanings given to them in the Stock Plan, as modified herein (if applicable).

The Restricted Stock Units covered by this Agreement are being awarded to you in connection with the Bank of America Corporation Executive Incentive Compensation Plan, subject to the 

following terms and provisions.

1.Subject to the terms and conditions of the Stock Plan and this Agreement, Bank of America awards to you the number of Restricted Stock Units shown above. Each Restricted Stock Unit shall have a value equal to the Fair Market Value of one (1) share of Bank of America common stock.

2.You acknowledge having read the Prospectus and agree to be bound by all the terms and conditions of the Stock Plan and this Agreement.

3.The Restricted Stock Units covered by this Award shall become earned by, and payable to, you in accordance with the terms and conditions of the Stock Plan and this Agreement, in the amounts and on the dates shown on the enclosed Exhibit A.

4.If a cash dividend is paid with respect to Bank of America common stock, you shall not receive any dividend equivalents, additional full or fractional Restricted Stock Units or other cash payments with respect to such cash dividends.

5.You may designate a beneficiary to receive payment in connection with the Restricted Stock Units awarded hereunder in the event of your death while in service with Bank of America or its Subsidiaries in accordance with Bank of America’s beneficiary designation procedures, as in effect from time to time. Any beneficiary designation in effect at the time of your termination of employment with Bank of America and its Subsidiaries (other than a termination of employment due to your death) will remain in effect following your termination of employment unless you change your beneficiary designation or it otherwise ceases to be enforceable and/or valid in accordance with Bank of America`s beneficiary designation procedures, as in effect from time to time. If you do not designate a beneficiary or if your designated beneficiary does not survive you, then your beneficiary will be your estate.

6.The existence of this Award shall not affect in any way the right or power of Bank of America or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in Bank of America’s capital structure or its business, or any merger or consolidation of Bank of America, or any issue of bonds, debentures, preferred or prior preference stocks ahead of or convertible into, or otherwise affecting the Bank of America common stock or the rights thereof, or the dissolution or liquidation of Bank of America, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.

7.Bank of America may, in its sole discretion, decide to deliver any documents related to this Award or future Awards that may be granted under the Stock Plan by electronic means or request your consent to participate in the Stock Plan by electronic means. You hereby consent to receive such documents by electronic delivery and, if requested, agree to participate in the Stock Plan through an on-line or electronic system established and maintained by Bank of America or a third party designated by Bank of America.

Any notice which either party hereto may be required or permitted to give to the other shall be in writing and may be delivered personally, by intraoffice mail, by fax, by electronic mail or other 

electronic means, or via a postal service, postage prepaid, to such electronic mail or postal address and directed to such person as Bank of America may notify you from time to time; and to you at your electronic mail or postal address as shown on the records of Bank of America from time to time or as otherwise determined appropriate by Bank of America, in its sole discretion, or at such other electronic mail or postal address as you, by notice to Bank of America, may designate in writing from time to time.

8.You agree that the Award covered by this Agreement is subject to the Incentive Compensation Recoupment Policy set forth in the Bank of America Corporate Governance Guidelines. To the extent allowed by and consistent with applicable law and any applicable limitations period, if it is determined at any time that you have engaged in Detrimental Conduct or engaged in any hedging or derivative transactions involving Bank of America common stock in violation of the Bank of America Corporation Code of Conduct that would undermine the performance incentives created by the Award, Bank of America will be entitled to recover from you in its sole discretion some or all of the cash paid to you pursuant to this Agreement. You recognize that if you engage in Detrimental Conduct or any hedging or derivative transactions involving Bank of America common stock, the losses to Bank of America and/or its Subsidiaries may amount to the full value of any cash paid to you pursuant to this Agreement. In addition, the Award is subject to the requirements of (i) Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (regarding recovery of erroneously awarded compensation) and any implementing rules and regulations thereunder, (ii) similar rules under the laws of any other jurisdiction and (iii) any policies adopted by Bank of America to implement such requirements, all to the extent determined by Bank of America in its discretion to be applicable to you.

9.You acknowledge that, regardless of any action taken by Bank of America or your employer, the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to your participation in the Stock Plan and legally applicable to you (“Tax-Related Items”) is and remains your responsibility and may exceed the amount (if any) withheld by Bank of America or your employer. You further acknowledge that Bank of America and/or your employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Restricted Stock Units, including the grant and vesting of the Restricted Stock Units or payout of the Award; and (ii) do not commit to structure the terms of the Award or any aspect of the Restricted Stock Units to reduce or eliminate your liability for Tax-Related Items. Further, if you have become subject to Tax-Related Items in more than one jurisdiction, you acknowledge that Bank of America or your employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.

In the event Bank of America determines that it and/or your employer must withhold any Tax- Related Items as a result of your participation in the Stock Plan, you agree as a condition of the grant of the Restricted Stock Units to make arrangements satisfactory to Bank of America and/or your employer to enable it to satisfy all withholding requirements by all legal means, including, but not limited to, withholding any applicable Tax-Related Items from the pay-out of the Restricted Stock Units. In addition, you authorize Bank of America and/or your employer to fulfill its withholding obligations by all legal means, including, but not limited to, withholding Tax-Related Items from your wages, salary or other cash compensation your employer pays to you. Bank of America may refuse to pay any earned Restricted Stock Units if you fail to comply 

with any obligations in connection with the Tax-Related Items.

10.The validity, construction and effect of this Agreement are governed by, and subject to, the laws of the State of Delaware and the laws of the United States, as provided in the Stock Plan. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this Award or this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of North Carolina and agree that such litigation shall be conducted solely in the courts of Mecklenburg County, North Carolina or the federal courts for the United States for the Western District of North Carolina, where this Award is made and/or to be performed, and no other courts.

11.In the event any provision of this Agreement shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Agreement, and the Agreement shall be construed and enforced as if the illegal or invalid provision had not been included. This Agreement constitutes the final understanding between you and Bank of America regarding the Restricted Stock Units. Any prior agreements, commitments or negotiations concerning the Restricted Stock Units are superseded. Subject to the terms of the Stock Plan, this Agreement may only be amended by a written instrument signed by both parties.

12.If you move to any country outside of the United States during the term of your Award, additional terms and conditions may apply to your Award. Bank of America reserves the right to impose other requirements on the Award to the extent Bank of America determines it is necessary or advisable for legal or administrative reasons and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

Exhibit A

Bank of America Corporation 
Key Employee Equity Plan

PAYMENT OF RESTRICTED STOCK UNITS

(a)PAYMENT SCHEDULE. Subject to the provisions of paragraphs (b) and (c) below, the Restricted Stock Units shall be earned and payable if you remain employed with Bank of America and its Subsidiaries through each of the payment dates as follows: one-twelfth (1/12th) of the total Restricted Stock Units granted for [year] shall be payable on the fifteenth (15th) day of each month during the twelve (12)-month period beginning in March [year] and ending in February [year] (each, a “Payment Date”).

Payment shall be made as soon as administratively practicable, generally within thirty (30) days after each applicable Payment Date.

(b)IMPACT OF TERMINATION OF EMPLOYMENT ON PAYMENT OF RESTRICTED STOCK UNITS. If your employment with Bank of America and its Subsidiaries terminates prior to any of the above Payment Date(s), then any portion of the Restricted Stock Units that has not yet become earned and payable shall become earned and payable or be canceled depending on the reason for termination as follows.

(i)Death or Disability. Any unearned portion of the Restricted Stock Units shall become immediately earned and payable as of the date of your termination of employment if your termination is due to your death or Disability. Payment will be made as soon as administratively practicable, generally within thirty (30) days after notification of termination from the payroll system.

(ii)All Other Terminations. In the case of All Other Terminations, any portion of the Restricted Stock Units that was not already earned and payable pursuant to paragraph (a) above as of the date of termination of employment shall be canceled as of that date.

(c)COVENANTS.

(i)    Detrimental Conduct. You agree that during any period in which the Restricted Stock Units remain payable, you will not engage in Detrimental Conduct.

(ii)    Hedging or Derivative Transactions. You agree that during any period in which the Restricted Stock Units remain payable, you will not engage in any hedging or derivative transactions involving Bank of America common stock in violation of the Bank of America Corporation Code of Conduct that would undermine the performance incentives created by the Award.

(iii)    Remedies. Payment of Restricted Stock Units in accordance with the schedule set forth in paragraph (a) above is specifically conditioned on the requirement that, at all times prior to each Payment Date, you do not engage in Detrimental Conduct or hedging or 

derivative transactions involving Bank of America common stock, as described in paragraphs (c)(i) and (ii) during such period. If Bank of America determines in its reasonable business judgment that you have failed to satisfy the foregoing requirements, then any portion of the Restricted Stock Units that has not yet been paid as of the date of such determination shall be immediately canceled as of the date of such determination.

(d)FORM OF PAYMENT. Payment of Restricted Stock Units shall be made in the form of cash for each Restricted Stock Unit that is payable. The amount of the payment that you will receive with respect to the Restricted Stock Units shall be determined by multiplying the number of Restricted Stock Units by the Fair Market Value of one (1) share of Bank of America common stock on the Payment Date.

(e)DEFINITIONS. For purposes hereof, the following terms shall have the following meanings.

All Other Terminations means any termination of your employment with Bank of America and its Subsidiaries, whether initiated by you or your employer, other than a termination due to your death or Disability.

Cause shall be defined as that term is defined in your offer letter or other applicable employment agreement; or, if there is no such definition, “Cause” means a termination of your employment with Bank of America and its Subsidiaries if it occurs in conjunction with a determination by your employer that you have (i) committed an act of fraud or dishonesty in the course of your employment; (ii) been convicted of (or plead no contest with respect to) a crime constituting a felony or a crime of comparable magnitude under applicable law (as determined by Bank of America in its sole discretion); (iii) committed an act or omission which causes you or Bank of America or its Subsidiaries to be in violation of federal or state securities laws, rules or regulations, and/or the rules of any exchange or association of which Bank of America or its Subsidiaries is a member, including statutory disqualification; (iv) failed to perform your job duties where such failure is injurious to Bank of America or any Subsidiary, or to Bank of America’s or such Subsidiary’s business interests or reputation; (v) materially breached any written policy applicable to your employment with Bank of America or any of its Subsidiaries including, but not limited to, the Bank of America Corporation Code of Conduct and General Policy on Insider Trading; or (vi) made an unauthorized disclosure of any confidential or proprietary information of Bank of America or its Subsidiaries or have committed any other material violation of Bank of America’s written policy regarding Confidential and Proprietary Information.

Detrimental Conduct means your serious misconduct or unethical behavior, including any one of the following: (i) any conduct that would constitute Cause; (ii) the commission of a criminal act by you, whether or not performed in the workplace, that subjects, or if generally known, would subject Bank of America or its Subsidiaries to public ridicule or embarrassment, or other improper or intentional conduct causing reputational harm to Bank of America, its Subsidiaries, or a client of Bank of America or its Subsidiaries; (iii) the breach of a fiduciary duty owed to Bank of America or its Subsidiaries or a client or former client of Bank of America or its Subsidiaries; (iv) intentional violation, or grossly negligent disregard, of Bank of America’s or its Subsidiaries’ policies, rules and procedures, specifically including, but not 

limited to any of your obligations under the Bank of America Corporation Code of Conduct and workplace policies; or (v) you taking or maintaining trading positions that result in a need to restate financial results in a subsequent reporting period or that result in a significant financial loss to Bank of America or its Subsidiaries during or after the performance year.

Disability is as defined in the Stock Plan.

IN WITNESS WHEREOF, Bank of America has caused this Agreement to be executed by its duly authorized officer, and you have hereunto set your hand, all effective as of the Grant Date listed above.

Brian T. Moynihan
Chairman and Chief Executive Officer

[year] Cash-Settled RSU Award Agreement

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