Document:

Exhibit

Exhibit 10.4

EXHIBIT B
SHORT-TERM INCENTIVE PROGRAM
(AS AMENDED AND RESTATED EFFECTIVE JANUARY 25, 2017)
		
	1.
	Establishment; Restatement. The short-term incentive program (“STIP”) previously established under the Spirit AeroSystems Holdings, Inc. 2014 Omnibus Incentive Plan (“OIP”), pursuant to Section 2.4 of the OIP is hereby amended and restated on the following terms and conditions. In addition to the generally applicable terms of the OIP, the following terms, conditions, and provisions will apply to Cash-Based Awards awarded to Participants as part of the STIP from an after the effective date of this Exhibit B. Capitalized terms not specifically defined in this Exhibit B will have the meanings set forth in the OIP.

		
	2.
	Short-Term Incentive Benefits. For each Plan Year, the Committee or Board will establish performance targets or goals and corresponding Cash-Based Awards (which may further be designated as Performance Based Awards) available to Participants under this Exhibit B. The performance targets or goals and corresponding Award amounts may be revised by the Committee or Board at any time, in its sole discretion, except that in the case of any Award designated as a Performance Compensation Award under Article 10 of the OIP, the authority to amend or modify the Award or the Performance Goals with respect to the Award will be subject to the conditions and limitations set forth in Article 10 of the OIP. Except as otherwise provided in the OIP or this Exhibit B, a Participant will be entitled to receive STIP benefits with respect to a Plan Year only if, in addition to satisfying all other conditions established with respect to the Award, the Participant is employed continuously throughout the Plan Year, to include the last day of the Plan Year. 

		
	3.
	Payment of Benefits - Timing. To the extent a Participant becomes entitled to receive an Award under this Exhibit B with respect to a Plan Year, such Award will be paid as soon as administratively practicable after the end of such Plan Year, but in no event later than 2-1/2 months after the end of such Plan Year, subject to any timely election by the Participant to defer payment of all or part of such Award in accordance with the terms and provisions of the Spirit AeroSystems Holdings, Inc. Amended and Restated Deferred Compensation Plan.

		
	4.
	Payment of Benefits - Form. Payment of any STIP award that has been earned will be made in cash, unless an Award Agreement or other agreement between a Participant and the Company or an Affiliate specifically provides otherwise. 

		
	5.
	Performance Goals. In accordance with Article 10 of the OIP, the Board or Committee may set Performance Goals with respect to an Award as part of the STIP and otherwise designate such Award as a Performance Compensation Award and set the performance-based terms and conditions of such Award.

		
	6.
	Change in Control. In the event of a Change in Control, each Participant who was participating in the STIP before the closing of the Change in Control and who incurs a Qualifying Termination either in anticipation of the Change in Control or during the period 

beginning 30 days before the closing of the Change in Control and ending two years after the date of the closing of the Change in Control will have a STIP benefit for the Plan Year in which the Qualifying Termination occurs determined as follows: (1) the performance metrics established under the STIP for that Plan Year will be deemed to have met target performance; and (2) each affected Participant will receive a full-year award for that Plan Year based on target performance, which award will be paid 100% in cash.
In the event of a Qualifying Termination in connection with a Change in Control, cash benefits that become payable by reason of the Change in Control will be paid as soon as administratively practicable on or after the date of the Qualifying Termination, but in no event later than 2-1/2 months after the end of the year in which the Qualifying Termination occurs, and in all cases subject to any timely election to defer payment of all or part of such benefit in accordance with the terms and provisions of the Spirit AeroSystems Holdings, Inc. Amended and Restated Deferred Compensation Plan.
In addition, in the event of a Change in Control, each Participant who was participating in the STIP before the closing of the Change in Control and who incurs a Qualifying Termination either in anticipation of the Change in Control or during the period beginning 30 days before the closing of the Change in Control and ending two years after the date of the closing of the Change in Control will be automatically fully (100%) vested with respect to any Shares transferred before the closing of the Change in Control in payment of a STIP award (and not previously forfeited) so that, immediately prior to the Qualifying Termination, such Shares will no longer be subject to any lapse restriction or risk of forfeiture.
		
	7.
	Qualifying Retirement. If a Participant retires in a Qualifying Retirement that occurs 90 days or more after the beginning of the Plan Year, the Participant will have a STIP benefit for the Plan Year in which the Qualifying Retirement occurs determined as follows: (1) the performance metrics established for that Plan Year will be measured as of the last day of the Plan Year at the same time and in the same manner as measured for all other Participants in the STIP; and (2) if any STIP benefits are otherwise payable for that Plan Year, the affected Participant will receive a prorated award determined by multiplying the full-year award (if any) that would be payable if the Participant had remained employed for the entire Plan Year by a fraction, the numerator of which is the number of whole or partial months in the Plan Year through the date of the Qualifying Retirement and the denominator of which is 12. Payment will be made at the same time as payment is made to other Participants for that Plan Year.

In addition, in the event of a Participant’s Qualifying Retirement, the Participant will be automatically fully (100%) vested with respect to any Shares previously transferred to the Participant in payment of a STIP award (but not previously forfeited) so that, immediately prior to the Qualifying Retirement, such Shares will no longer be subject to any lapse restriction or risk of forfeiture. 
A “Qualifying Retirement” is a Termination that is a voluntarily termination of employment with the Company or Affiliate (but not a death, discharge, or other involuntary termination 

of employment) on or after attaining age 55 with at least 10 years of service or, alternatively, on or after attaining age 60 with at least 5 years of service.
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Exhibit 10.5

Exhibit A

Director Stock Program

		
	1.
	Continuation of Program. The director stock program (“DSP”) previously established under the Spirit AeroSystems Holdings, Inc. Omnibus Incentive Plan (“OIP”), pursuant to Section 2.4 of the OIP is hereby continued, subject to any modifications in the terms and provisions of the DSP described below. In addition to the generally applicable terms of the OIP, the following terms, conditions, and provisions will apply to Awards of Restricted Stock or Restricted Stock Units made to Participants as part of the DSP. Capitalized terms not specifically defined in this Exhibit will have the meanings set forth in the OIP.

		
	2.
	Eligibility. Each Eligible Person who is a Nonemployee Director of the Company will be eligible to participate in the DSP upon commencement of the individual’s term as a Director of the Company.

		
	3.
	Mandatory Grant of Restricted Stock or RSUs. $100,000 of a Nonemployee Director’s annual director compensation (or such higher or lower amount as may, in the future, be designated by the Board or Committee) will be paid in the form of an Award of Restricted Stock or RSUs, as elected by the Participant at the time and in the manner provided in this Exhibit (a “Mandatory Grant”). If no timely election is made by a Nonemployee Director, a Mandatory Grant will be made in the form of Restricted Stock.

		
	4.
	Elective Grant of Restricted Stock or RSUs. A Nonemployee Director may elect, at the time and in the manner provided in this Exhibit, to have all or any portion of the Participant’s annual director compensation that is not required to be paid in the form of a Mandatory Grant paid in cash or in the form of a grant of Shares and/or RSUs. In addition, a Nonemployee Director may elect, at the time and in the manner provided in this Exhibit, to have all (but not less than all) of the Participant’s meeting attendance fees paid in cash or in the form of a grant of Shares or RSUs. A grant of Shares or RSUs made pursuant to an election described in this paragraph is referred to in this Exhibit as an “Elective Grant.” If no timely election is made by a Nonemployee Director, the compensation described in this paragraph will be paid in the form of cash.

		
	5.
	Number of Shares or RSUs. The number of Shares or RSUs granted to a Nonemployee Director in a Mandatory Grant or an Elective Grant will be determined under such conventions and rules as the Board or the Committee may adopt, in its sole discretion. 

		
	6.
	Vesting Schedule. Unless otherwise provided in an Award Agreement, the Restricted Stock or RSUs granted in a Mandatory Grant will be subject to a service condition. A Nonemployee Director must remain continuously in service for the term to which the Mandatory Grant relates. If a Nonemployee Director incurs a Termination for any reason before the end of the term to which the Mandatory Grant relates (i.e., before the annual meeting of the shareholders of the Company immediately following the grant date of the Mandatory Grant), the Nonemployee Director will not satisfy the service condition, and the Restricted Stock 

and/or RSUs granted to the Nonemployee Director in that Mandatory Grant will be forfeited without any payment therefor. The Board may, in its sole discretion, waive this one-year service condition (in whole or in part) with respect to a Nonemployee Director if it deems it appropriate and in the best interests of the Company to do so.

		
	7.
	Elections. An election by a Nonemployee Director in connection with a Mandatory Grant or an Elective Grant must be made in writing and in such form as the Committee may prescribe (which may include, but is not limited to, making the election as part of an Award Agreement). 

An election with respect to a Nonemployee Director’s annual director compensation must be made on or before the December 31 preceding the Participant’s election (or re-election) as a Nonemployee Director, except that, in the case of a Participant who is first elected as a Nonemployee Director, the election may be made during the period ending 30 days after the date the Participant first becomes elected as a Nonemployee Director. 
An election with respect to a Nonemployee Director’s meeting attendance fees must be made on or before the December 31 preceding the calendar year in which the meetings will occur at which such fees are earned, except that, in the case of a Participant who is first elected as a Nonemployee Director, the election may be made during the period ending 30 days after the date the Participant first becomes elected as a Nonemployee Director. 
An election will be irrevocable once it becomes effective and will continue in effect unless and until further modified. Failure to make a valid and timely election with respect to a Mandatory Grant will require that payment be made in the form of an Award of Restricted Stock. Failure to make a valid and timely election with respect to an Elective Grant will require that payment be made in cash.
If an election is made by a Nonemployee Director to receive an Elective Grant with respect to meeting attendance fees but the Nonemployee Director terminates service before the Elective Grant is made, payment will be made in cash. 
		
	8.
	83(b) Elections. Although an Award of Restricted Stock pursuant to a Mandatory Grant may be subject to certain lapse restrictions and may be substantially nonvested upon transfer, any such Award is intended to constitute a transfer of such Restricted Stock within the meaning of Code Section 83 upon grant. Accordingly, Nonemployee Directors who are awarded Restricted Stock will be eligible to make an election under Code Section 83(b) with respect to those Shares at the time such Award is made, subject to complying with all applicable requirements for making such an election, including, but not limited to, the requirement that such election be made within 30 days after the date of transfer.

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