Document:

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                                                                    Exhibit 10.6

                       TELEDYNE TECHNOLOGIES INCORPORATED
               1999 NON-EMPLOYEE DIRECTOR STOCK COMPENSATION PLAN
                            (As of November 12, 1999)

                                   ARTICLE I.
                                     GENERAL

         1.1. Purpose. It is the purpose of the Plan to promote the interests of
the Company and its stockholders by attracting, retaining and providing an
incentive to Non-Employee Directors through the acquisition of a proprietary
interest in the Company and an increased personal interest in its performance.
This purpose will be served by providing an opportunity for Non-Employee
Directors to elect to receive Stock Options and/or Common Stock in lieu of
Director's Retainer Fee Payments, the automatic payment of a portion of the
Director's Retainer Fee Payment in the form of Common Stock to those
Non-Employee Directors not electing to receive such portion in the form of Stock
Options and/or Common Stock and granting each Non-Employee Director annually an
option covering 2,000 shares of Common Stock.

         1.2. Adoption and Term. The Plan has been approved by the Board and
shall become effective as of the Effective Date (as hereinafter defined). The
Plan shall terminate without further action upon the earlier of (a) the tenth
anniversary of the effective date, and (b) the first date upon which no shares
of Common Stock remain available for issuance under the Plan.

         1.3. Definitions. As used herein the following terms have the following
meanings:

                  (a) "Annual Options" means the Stock Options issuable under
                  Section 4.4(a) of the Plan.

                  (b) "Board" means the Board of Directors of the Company.

                  (c) "Code" means the Internal Revenue Code of 1986, as
                  amended. References to a section of the Code shall include
                  that section and any comparable section or sections of any
                  future legislation that amends, supplements or supersedes said
                  section.

                  (d) "Common Stock" means the common stock, par value $0.01 per
                  share, of the Company.

                  (e) "Company" means Teledyne Technologies Incorporated, a
                  Delaware corporation, and any successor thereto.

                  (f) "Compensation Year" means each calendar year or portion
                  thereof during which the Plan is in effect.

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                  (g) "Director" means a member of the Board.

                  (h) "Director's Retainer Fee Payment" means the dollar value
                  of that portion of the annual retainer fee payable by the
                  Company to a Non-Employee Director for serving as a Director
                  and for serving as the chair of the Board or any committee of
                  the Board as of a particular Payment Date, as established by
                  the Board and in effect from time to time.

                  (i) "Effective Date" means the effective date of the
                  distribution by Allegheny Teledyne Incorporated to its
                  stockholders of the Common Stock.

                  (j) "Employee" means any employee of the Company or an
                  affiliate.

                  (k) "Exchange Act" means the Securities Exchange Act of 1934,
                  as amended. References to a section of the Exchange Act or
                  rule promulgated thereunder shall include that section or rule
                  and any comparable section(s) or rule(s) of any future
                  legislation or rulemaking that amends, supplements or
                  supersedes said section or rule.

                  (l) "Fair Market Value" means, as of any given date, the
                  average of the high and low trading prices of the Common Stock
                  on such date as reported on the New York Stock Exchange, or,
                  if the Common Stock is not then traded on the New York Stock
                  Exchange, on such other national securities exchange on which
                  the Common Stock is admitted to trade, or, if none, on the
                  National Association of Securities Dealers Automated Quotation
                  System if the Common Stock is admitted for quotation thereon;
                  provided, however, if there were no sales reported as of such
                  date, Fair Market Value shall be computed as of the last date
                  preceding such date on which a sale was reported; provided,
                  further, that if any such exchange or quotation system is
                  closed on any day on which Fair Market Value is to be
                  determined, Fair Market Value shall be determined as of the
                  first date immediately preceding such date on which such
                  exchange or quotation system was open for trading.

                  (m) "Non-Employee Director" means a Director who is not an
                  Employee.

                  (n) "Non-Employee Director Notice" means a written notice
                  delivered in accordance with Section 4.2.

                  (o) "Payment Date" means the first business day of January and
                  July of each Compensation Year on which the Director's
                  Retainer Fee Payment for serving as a Director is paid by the
                  Company and the first business day of January of each
                  Compensation Year on which the Director's Retainer Fee Payment
                  for serving as the chair of the Board or any committee of the
                  Board is paid by the Company.

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                  (p) "Plan" means this Teledyne Technologies Incorporated 1999
                  Non-Employee Director Stock Compensation Plan, as it may
                  hereafter be amended from time to time.

                  (q) "Retainer Fee Options" means the Stock Options issuable
                  under Section 4.3 of the Plan.

                  (r) "Stock Options" means options to purchase shares of Common
                  Stock of the Company issuable hereunder.

         1.4. Shares Subject to the Plan. The shares to be offered under the
Plan shall consist of the Company's authorized but unissued Common Stock or
treasury shares and, subject to adjustment as provided in Section 5.1 hereof,
the aggregate amount of such stock which may be issued or subject to Stock
Options issued hereunder shall not exceed 200,000 shares. If any Stock Option
granted under the Plan shall expire or terminate for any reason, without having
been exercised or vested in full, as the case may be, the unpurchased shares
subject thereto shall again be available for issuance under the Plan. Stock
Options granted under the Plan will not be qualified as "incentive stock
options" under Section 422 of the Code.

                                   ARTICLE II.
                                 ADMINISTRATION

         2.1. The Board. The Plan shall be administered by the Board. Subject to
the provisions of the Plan, the Board shall interpret the Plan, promulgate,
amend, and rescind rules and regulations relating to the Plan and make all other
determinations necessary or advisable for its administration. Interpretation and
construction of any provision of the Plan by the Board shall be final and
conclusive. Notwithstanding the foregoing, the Board shall have or exercise no
discretion with respect to the selection of persons eligible to participate
hereunder, the determination of the number of shares of Common Stock or number
of Stock Options issuable to any person or any other aspect of Plan
administration with respect to which such discretion is not permitted in order
for grants of shares of Common Stock and Stock Options to be exempt under Rule
16b-3 promulgated under the Exchange Act.

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                                  ARTICLE III.
                                  PARTICIPATION

         3.1. Participants. Each Non-Employee Director shall participate in the
Plan on the terms and conditions hereinafter set forth.

                                   ARTICLE IV.
                           PAYMENT OF DIRECTOR'S FEES

         4.1. General. The Director's Retainer Fee Payment shall be paid to each
Non-Employee Director, as of each Payment Date, as set forth in the Plan and
subject to such other payment policies and procedures as the Board may establish
from time to time. If, for the applicable Compensation Year, a Non-Employee
Director has not made an election pursuant to Section 4.2 to receive Stock
Options or Common Stock in lieu of at least twenty-five percent (25%) of the
Director's Retainer Fee Payment, then seventy-five percent (75%) of such
Director's Retainer Fee Payment shall be paid in cash and twenty-five percent
(25%) of the Director's Retainer Fee Payment shall be paid in the form of Common
Stock.

         4.2. Non-Employee Director Notice. A Non-Employee Director may file
with the Secretary of the Company or other designee of the Board of Directors
prior to the commencement of a Compensation Year a Non-Employee Director Notice
making an election to receive either twenty-five percent (25%), fifty percent
(50%), seventy-five percent (75%) or one hundred (100%) of his or her Director's
Retainer Fee Payment in the form of Stock Options and/or Common Stock with the
balance to be paid in cash. If a Director does not timely file an election, he
or she shall receive twenty-five percent (25%) of the Director's Retainer Fee
Payment in Common Stock and seventy-five percent (75%) in cash. Notwithstanding
the foregoing, elections to receive Common Stock or Stock Options may be made at
any time during a Compensation Year so long as such elections are made
irrevocably in advance of receiving the corresponding Common Stock or Stock
Options and approved in accordance with Rule 16b-3 under the Exchange Act.

         4.3 Conversion of Retainer Fee Payment to Shares. Each Non-Employee
Director who pursuant to Section 4.1 or 4.2 is to receive Common Stock as all or
part of his or her Director's Retainer Fee Payment with respect to a
Compensation Year and who is elected or reelected or is a continuing
Non-Employee Director as of the date of commencement of such Compensation Year
as of the applicable Payment Date, shall receive as of each Payment Date during
such Compensation Year a number of shares of Common Stock equal to the quotient
obtained by dividing (i) the amount of the Director's Retainer Fee Payment to be
paid in the form of Common Stock by (ii) the Fair Market Value of the Common
Stock per share on such Payment Date. Cash shall be paid in lieu of any
fractional shares.

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         4.4 Stock Options

         (a) Annual Option Grants. An Annual Option covering 2,000 shares of
Common Stock shall be granted to each Non-Employee Director on the Effective
Date, subject to approval by the stockholders of the Company. Thereafter, an
Annual Option covering 2,000 shares of Common Stock will be granted to each
Non-Employee Director automatically at the conclusion of each Company Annual
Meeting. If, after the Effective Date, a director first becomes a Non-Employee
Director on a date other than an Annual Meeting date, an Annual Option covering
2,000 shares of Common Stock will be granted to such director on his or her
first date of Board service. The purchase price of the Common Stock covered by
each Annual Option will be the Fair Market Value of a share of Common Stock as
of the date of grant of the Annual Option.

         (b) Retainer Fees Options. Retainer Fee Options will be granted on the
Payment Dates of each Compensation Year. The number of shares of Common Stock to
be subject to a Retainer Fee Option shall be equal to the nearest number of
whole shares determined by multiplying the Fair Market Value of a share of
Company Common Stock on the date of grant by 0.3333 and dividing the result into
the applicable portion of the Director's Retainer Fee Payment elected to be
received as Stock Options by the Non-Employee Director for the Compensation
Year. The purchase price of each share covered by each Retainer Fee Option shall
be equal to the Fair Market Value of a share of Common Stock on the date of
grant of the Retainer Fee Option multiplied by 0.6666.

         (c) Duration and Exercise of Stock Options. Subject to Section 4.4(f)
below, Annual Options and Retainer Fee Options become exercisable on the first
anniversary of the date on which they were granted. Stock Options shall
terminate upon the expiration of ten years from the date of grant. No Stock
Option may be exercised for a fraction of a share and no partial exercise of any
Stock Option may be for less than one hundred (100) shares.

         (d) Purchase Price. The purchase price for the shares shall be paid in
full at the time of exercise (i) in cash or by check payable to the order of the
Company, (ii) by delivery of shares of Common Stock of the Company already owned
by, and in the possession of Stock Option holder, or (iii) by delivering a
properly executed exercise notice together with irrevocable instructions to a
broker to deliver promptly to the Company the amount of sale or loan proceeds to
pay the Stock Option price (in which case the exercise will be effective upon
receipt of such proceeds by the Company). Shares of Common Stock used to satisfy
the exercise price of a Stock Option shall be valued at their Fair Market Value
on the date of exercise.

         (e) Transferability. Stock Options granted hereunder shall not be
transferable, other than by will or the laws of descent and distribution, and
shall be exercisable during a Stock Option holder's lifetime only by the Stock
Option holder or by his or her guardian or legal representative, except to the
extent transfer is permitted by Rule 16b-3 promulgated under the Exchange Act
and approved by the Board or its designee.  Subject

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to the foregoing, Stock Options shall not be assigned, pledged or otherwise
encumbered by the holder thereof, either voluntarily or by operation of law.

         (f) Termination of Directorship. If a director ceases to be a director
of the Company for any reason other than death or removal by the Board of
Directors or the stockholders, the director's Stock Options shall continue to
vest as provided in Section 4.4 (c) above and the right of the Optionee to
exercise such Stock Options shall continue until the options expire in
accordance with Section 4.4(c). In no event may a Stock Option be exercised
after the expiration of the period specified in Section 4.4(c). In the event of
death of a director or former director who holds an outstanding Stock Option,
all unvested Stock Options shall automatically become fully vested as of the
date of death and the right of his or her estate or beneficiary to exercise the
Stock Options shall terminate upon the expiration of twelve months from the date
of death, but in no event may a Stock Option be exercised after the expiration
of the Option Period. In the event of removal of a director from the Board of
Directors, all rights of such director in a Stock Option that the director was
entitled to exercise on the date of removal shall terminate on the 30th day (or,
if such day is not a business day, on the next business day) after the date of
removal, but in no event may such Stock Options be exercised after the
expiration of the Option Period.

                                   ARTICLE V.
                                  MISCELLANEOUS

         5.1. Adjustments Upon Changes in Common Stock. The number and kind of
shares available for issuance under the Plan, and the number and kind of shares
subject to, and the exercise price of, outstanding Stock Options, shall be
appropriately adjusted to prevent dilution or enlargement of rights by reason of
any stock dividend, stock split, combination or exchange of shares,
recapitalization, merger, consolidation or other change in capitalization with a
similar substantive effect upon the Plan or the shares issuable under the Plan.

         5.2. Amendment and Termination. The Board shall have complete power and
authority to amend the Plan at any time; provided, however, that the Board shall
not, without the affirmative approval of the shareholders of the Company, make
any amendment which requires shareholder approval under any applicable law or
regulation of a national stock exchange on which the Common Stock is traded. The
Board shall have the right and the power to terminate the Plan at any time. No
amendment or termination of the Plan may, without the consent of the
Non-Employee Director, adversely affect the right of such Non-Employee Director
with respect to any Stock Options then outstanding.

         5.3. Requirements of Law. The issuance of Common Stock under the Plan
shall be subject to all applicable laws, rules and regulations and to such
approval by governmental agencies as may be required.

         5.4. No Guarantee of Membership. Nothing in the Plan shall confer upon
a

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Non-Employee Director any right to continue to serve as a Director.

         5.5 Construction. Words of any gender used in the Plan shall be
construed to include any other gender, unless the context requires otherwise.

         5.6 Governing Law. This Plan shall be governed by, construed and
interpreted in accordance with the laws of the State of Delaware, without regard
to its principles of conflict of law, as to all matters, including matters of
validity, construction, effect, performance and remedies.

                                       7<PAGE>   1
                                                                    Exhibit 10.8

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT (the "Employment Agreement") is made and
entered into as of the 21st day of December, 1999 by and between Teledyne
Technologies Incorporated, a Delaware corporation with its executive offices at
2049 Century Park East, 15th Floor, Los Angeles, California 90067-3101(the
"Company"), and Dr. Robert Mehrabian, an individual residing at 5388 Baseline
Avenue, Santa Ynez, California 93460 (the "Executive").

                                    RECITALS

         WHEREAS, the Company hired the Executive and the Executive agreed to
serve as the Company's President and Chief Executive Officer ("CEO"); and

         WHEREAS, the Personnel and Compensation Committee of the Board of
Directors (the "Committee") authorized the Company to enter into and the Company
and the Executive entered into a Change in Control Severance Agreement dated as
of December 21, 1999 (the "CIC Agreement"); and

         WHEREAS, the CIC Agreement provides for payment of severance benefits
if the Executive's employment is terminated under circumstances described in the
CIC Agreement; and

         WHEREAS, the Company wishes to supplement the CIC Agreement with
respect to the Executive by specifying in this Employment Agreement the
Executive's titles and the types and rates of compensation to which he is
entitled during his employment with the Company.

         NOW, THEREFORE, in consideration of the respective covenants and
agreements hereinafter set forth, and intending to be legally bound, the parties
hereto agree as follows:

         1. Term of Agreement. This Employment Agreement shall be effective as
of the date first above written and shall continue in effect until December 31,
2000, unless extended as described in the next sentence. Effective as of
November 1, 2000 and, if previously extended, each November 1st thereafter, the
term of this Employment Agreement shall be extended for one additional year
unless one party shall give written notice to the other on or before October 31,
2000 or, if previously extended, the then next October 31st that the term will
not be thereafter extended. If such notice is given by either party, the
Executive may retire on the first December 31st following receipt of such
notice.

         2. Employment Agreement to Supplement the CIC Agreement. This
Employment Agreement shall supplement the CIC Agreement and the terms and
conditions of this Employment Agreement are not intended to alter or vary the
terms and conditions of the CIC Agreement. The intention of this Employment
Agreement is to memorialize certain terms and conditions of the employment of
the Executive which are particular to him and not specified in the CIC
Agreement. Except as specifically set forth herein, initially capitalized terms
shall have the meaning ascribed thereto under the CIC Agreement which is
incorporated herein and made a part hereof as if set forth at length.

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         3. Position and Duties. The Company shall employ Executive and the
Executive shall serve as the President and CEO of the Company and shall have
primary responsibility to manage and direct the day-to-day business of the
Company including the generation of income and control of expenses. Subject to
the approval of the Board of Directors of the Company, the Executive may serve
as a director of charitable organizations and/or for profit corporations which
do not compete with the Company or any of its subsidiaries and affiliates. The
Company acknowledges that Executive serves as a director of Mellon Financial
Corporation and PPG Industries, Inc. as of the date hereof and agrees that the
Executive may continue to serve as a director of those corporations.

         4. Compensation. The Executive shall receive the following items of
compensation at the rates thereof set forth below.

         a. Base Salary. During the Term, the Company shall pay Executive a base
         salary at the annualized rate of Five Hundred Thousand ($500,000)
         Dollars ("Base Salary"). Base Salary shall be paid periodically in
         accordance with normal Company payroll practices applicable to
         executive employees.

         b. Participation in Compensation Plans and Programs. In accordance with
         the respective terms and conditions of the respective plans and
         programs, the Executive shall be entitled to participate in the
         following compensation plans and programs:

                  1.       AIP. In the AIP at an annual opportunity at 80% of
                           Base Salary if targets are reached at 100%, or such
                           greater percentage if provided in the AIP for any
                           year.

                  2.       PSP. In the PSP at an opportunity equal to 150% of
                           Base Salary if targets are reached at 100%, or such
                           greater percentage if provided in the PSP for any
                           measurement period.

                  3.       SARP. In the SARP at the level approved by the
                           Committee. In the event Allegheny Technologies
                           Incorporated alters to the benefit of participants
                           the terms and conditions of its SARP, to the extent
                           those alterations are not made applicable to the
                           Executive by the terms of those alterations, the
                           Company shall make arrangements so that the Executive
                           is made whole for the benefits of such alterations.

                  4.       Stock Options. In addition to the initial award of
                           300,000 stock options made as of November 29, 1999,
                           eligibility to receive future grants of options in a
                           number determined by the Personnel and Compensation
                           Committee of the Board of Directors, each subject to
                           the terms and conditions of the Stock Option
                           Incentive Plan.

         5. Employee Benefits. The Executive shall participate in each
qualified, non-qualified and supplemental employee benefit, executive benefit,
fringe benefit and perquisite plan, policy or arrangement of the Company
applicable to executive level employees, including, but not limited to, expense
reimbursement policies, a country club and a city club membership,

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and use of an automobile, in each case, in accordance with the terms and
conditions thereof (including tax equalization payments to the extent provided
with respect to such plans by Allegheny Teledyne Incorporated on or prior to
November 29, 1999) as in effect from time to time. Nothing in this Employment
Agreement shall be construed as preventing the amendment or termination of any
such plan, policy or arrangement by the Company so long as such amendment or
termination affects all executive employees of the Company then participating.

         6. Non-Qualified Pension Arrangement. In addition to the employee
benefits described in Section 5, the Company will pay to the Executive (or his
designee if amounts are payable after the death of the Executive) following his
Retirement (as defined below), as payments supplemental to any accrued pension
under the Company's qualified pension plan, an annual amount, paid in equal
monthly installments, equal to 50% of his Base Compensation at the rate in
effect on the date of his Retirement. Such annual amount shall be paid each year
for a number of years following his Retirement equal to the number of whole and
fractional years of service, not in excess of ten (10), the Executive has
rendered to the Company (including the period from August, 1997 through and
including November, 1999 rendered as service to the Company's predecessor,
Allegheny Teledyne Incorporated). For purposes of Section 6 of this Employment
Agreement and without effect upon whether the Executive is deemed to be retired
under the CIC Agreement, the Executive will be deemed to have a Retirement upon
his separation from service with the Company for any reason other than for
Cause.

         7. Binding Agreement. The Company will use its best efforts to require
any successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise to all or substantially all of the business and/or assets of the
Company) to expressly assume and agree to perform this Employment Agreement and
the CIC Agreement in the same manner and to the same extent that the Company
would be required to perform them if no such succession had taken place. Failure
of the Company to obtain such assumption and agreement prior to the
effectiveness of any such succession shall be deemed to be a termination without
Cause for purposes of this Employment Agreement and the CIC Agreement. For
purposes of implementing the foregoing, the date on which any such succession
becomes effective shall be the Date of Termination.

         8. Notices. Any notice required or permitted under this Agreement shall
be given in writing and shall be deemed to have been effectively made or given
if personally delivered at the address first above written or such other address
as may be given by one party to the other.

         9. Withholding. The Company shall be entitled to withhold, or cause to
be withheld, from payment any amount payable under this Employment Agreement of
any payroll and withholding taxes required by law, as determined by the Company
in good faith.

         10. Governing Law. This Agreement shall be construed, interpreted, and
governed in accordance with the laws of the State of California without
reference to rules relating to conflict of law.

         11. Headings. The headings of sections are included solely for
convenience of reference and shall not control the meaning or interpretation of
any of the provisions of this Agreement.

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         12. Counterparts. This Agreement may be executed by either of the
parties hereto in counterparts, each of which shall be deemed to be an original,
but all such counterparts shall together constitute one and the same instrument.

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

                                            EXECUTIVE

                                            By:   /s/  Robert Mehrabian
                                                  -------------------------
                                                       Robert Mehrabian

                                            TELEDYNE TECHNOLOGIES INCORPORATED

                                            By:   /s/  Thomas A. Corcoran
                                                  -------------------------
                                            Name:      Thomas A. Corcoran
                                            Title:     Chairman

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