Document:

Exhibit 10.10

A.T. Cross Company

Incentive Compensation Plan - 2008

Introduction

The following Incentive Plan (the "Plan") will be implemented for 2008.  The purpose of the Plan is to drive participants towards achievement of A.T. Cross Company ("Cross") and Cross Accessory Division ("CAD") financial goals, and to motivate, retain and reward participants.  For 2008, the Plan will calculate incentive awards for all participants based on the achievement of either annual Cross or CAD OIBT.  The award will then be modified based on achievement of individual performance objectives.

Individual Objectives will be determined based on individual responsibilities and agreed upon by the President and CEO of Cross or the President of CAD as applicable, with the appropriate Vice President.

Operation of Plan

Each OIBT Award incentive pool is created when certain levels of OIBT are achieved by Cross and/or CAD.  Based on the level of acheivement, the incentive pool will be created by multiplying the (i) base pay of participants by (ii) the participants' target bonus level by (iii) the OIBT Bonus Payout Percentage.

Example Only:

	
Hypothetical OIBT Funding Matrix to Create Incentive Pool

	
Pre-Bonus
	
$10 Million
	
0%
	
OIBT Bonus Payout

	
OIBT
	
$11 Million
	
10%
	
Percentage

	
Achievement of
	
$15 Million
	
50%
	

	
Plan
	
$20 Million
	
100%
	

	
	
$25 Million
	
150%
	

A Modifier will then be applied to the calculated award based on the achievement of the pre-determined individual performance objectives.

Each individual objective will be evaluated on the following scale:

	
	
Modifier for Achievement of Individual Objectives

	
	
	

	
	
Objective Rating
	
Multiplier

	
	
	

	
	
Did Not Achieve Results
	
0.00

	
	
Achieved Results
	
1.00

	
	
Exceeded Results
	
1.20

For each participant, a weighting is assigned at the beginning of the Plan year to each objective.  Each objective is then evaluated at the end of the Plan year to determine the level of achievement.  Based on the achievement level, a multiplier is earned as described above.  A weighted average multiplier is then calculated for all the participant's objectives.  Once the weighted average multiplier is determined, it will modify the Cross and/or CAD OIBT Award.

	
Calculation of Bonus for a Participant

Assuming Pre-Bonus OIBT of $20MM
	
Example

	
Base Pay of Participant
	
$80,000

	
X
	
X

	
Target Bonus Percentage of Participant
	
15 %

	
X
	
X

	
Payout Percentage from OIBT

Funding Matrix =
	

100% =

	
OIBT Award
	
$12,000

	
X
	
X

	
Weighted Average Multiplier on Individual

Objectives
	
.751

	
Total Bonus Payout
	
$9,000

	
1.
	
This participant had four individual objectives each of which was equally weighted.  He received scores of 0,1,1 and 1 for a weighted average score of .75.

 

Eligibility

All executives and exempt staff who are actively employed by Cross on the last day of the fiscal year are eligible to participate unless otherwise noted or communicated a different incentive plan.  The eligibility criteria are based on competitive market review.

Target Bonus Levels

Target bonus incentives will be expressed as a percentage of base salary earned during the year.  Target Bonus Percentages are based on market data regarding competitive compensation levels.  Incentive percentage levels at threshold achievement will be approximately 10 percent of Target ("Threshold Bonus") and approximately 150 percent of target at Maximum levels of achievement ("Maximum Bonus").  No incentive pool will be created until the Threshold achievement level is attained.

	
	
	
Base Salary Range ($000)
	
Target Bonus Percentage 

(as a % of base pay)*

	
	
	
	

	
	
Level 1
	
> or = $300
	
45%

	
	
Level A
	
$200 - < $300
	
35%

	
	
Level B
	
$130 - < $200
	
25%

	
	
Level C
	
$100 - < $130
	
20%

	
	
Level D
	
  $80 - < $100
	
15%

	
	
Level E
	
$60 - < $80
	
10%

	
	
Level F
	
< $60
	
5%

* Participants grandfathered under a previous plan may have different Target Bonus Percentages.

International Targe Bonus Matrix

International participants' target bonus percentages will be determined considering numerous factors such as level of base pay, responsibilities and position within the organization.

Payout of Plan Awards

Annual Incentive Awards will be distributed as soon as is practicable after the close of the fiscal year.  Awards, if earned, will be a percent of base salary paid for such fiscal year.  Base salary does not include any bonus payable under this Plan or any other incentive plan, any life insurance premiums, special compensation, pension benefits, or Crossaver savings plan matching allocations.

Changes in Employment Status

Employees who are participants in the Plan for only part of a fiscal year may participate in the Plan for the period of membership on a pro rata basis so long as the participant was employed no later than June 30 of the fiscal year.  Bonuses will be prorated for employees who participate in more than one bonus level during the calendar year, taking into account all bonus levels.  However, participants must be actively employed by the Company as of the last day of the fiscal year to be eligible for incentive awards relating to that year.  Notwithstanding the foregoing, in the event that a participant is terminated for performance or for cause prior to the distribution of bonuses but after the end of the last day of the fiscal year for which bonuses are being paid, such individual shall not be eligible for a bonus award.

Bonus funding levels will be interpolated to yield the final bonus calculations.

Leaves of Absence, Disability or Death

For participants who are on an approved leave of absence, who become disabled (i.e., eligible for Company LTD benefits) or die while a member of the Plan, awards will be determined in a prorated manner to reflect the period of time the participant was an active member of the Plan.  Payout will be made at the time the normal payout would have been made to the participant or participant's beneficiary (ies) if on file; otherwise, payment will be made to the participant's estate.

Administration

The Compensation Committee of the Board of Directors of A. T. Cross Company, whose decisions in all matters will be final, will administer the Plan.  The Committee reserves the right, subject to the full Board's approval, to modify, amend, or discontinue this Plan at any time.  Any changes or amendments to the Plan will not affect a participant's rights prior to the modification unless the participant provides written consent.

Participation in this Plan does not confer any right to continued employment by A. T. Cross.  Similarly, participation in any one year does not necessarily guarantee participation in future years.  No member of the Compensation Committee shall have any personal liability in connection with the administration of the Plan.  

Definitions

Operating Income Before Taxes (OIBT) Under This Plan

OIBT is defined as the pretax operating income excluding any adjustment for LIFO inventories, restructuring or other non-recurring items, and before allowance for bonus payment under this plan.  The Cross and CAD targets will be approved by the Board of Directors considering the annual operating plan.

Cross and CAD OIBT

Cross's OIBT targets include operations of A.T. Cross Company and subsidiaries, branches and divisions that are included in Cross's original 2008 operating plan as approved by the Board. 

CAD's OIBT targets include the operations of the Cross Accessory Division on a worldwide basis that are included in CAD's original 2008 operating plan as approved by the Board.

International Calculations

Participants who are located internationally will have their targets and actual results determined utilizing budgeted exchange rates.  By utilizing budgeted exchange rates, there will be neither a favorable nor unfavorable impact as a result of fluctuations in foreign exchange.  Also, participants who operate in a single country will be measured using local currency, while participants who operate in multiple countries will be measured in United States dollars (utilizing budgeted exchange rates) on a consolidated basis.ex10w1-031308.htm

    
      

      

    

    AMENDMENT TO EMPLOYMENT
AGREEMENT

     

    This
Amendment to Employment Agreement (this “Amendment”) is entered into this 10th
day of March, 2008, by and between Bristow Group Inc. (the “Company”), and
William E. Chiles, an individual (the “Executive”).  The Company and
the Executive are sometimes hereinafter each referred to as a “Party” and
collectively as the “Parties”.

     

    WHEREAS,
the Parties entered into that certain Amended and Restated Employment Agreement
(the “Agreement”) on June 6, 2006 but effective as of June 21, 2004, setting
forth the terms under which the Company would employ the Executive;
and

     

    WHEREAS,
the Parties desire to amend the Agreement in writing as provided under Section
9(a) of the Agreement.

     

    NOW,
THEREFORE, in consideration of the mutual promises and covenants contained
herein, and other good and valuable consideration, the receipt and sufficiency
of which are hereby expressly acknowledged, the Parties agree as
follows:

     

    1. Amendment of the
Agreement.

     

    The
Parties agree to modify and amend the Agreement as follows:

     

    1.1 The last
sentence of Section 2(b) of the Agreement is hereby amended to read as
follows:

     

    “Each
such Annual Bonus shall be paid following the end of the fiscal year for which
the Annual Bonus is awarded and no later than two and one-half months after the
end of the fiscal year for which awarded unless the Executive shall elect to
defer the receipt of such Annual Bonus under and in accordance with the
Company’s deferred compensation plan.”

     

    1.2 The first
clause of Section 4(a)(i) is hereby amended to read as follows:

     

    “The
Company shall pay to the Executive in a lump sum in cash, at the time provided
in Section 4(d), the aggregate of the following amounts:”

     

    1.3 A new
sentence shall be added at the end of Section 4(a)(iii) to read as
follows:

     

    “Reimbursement
of such medical and dental expenses shall be made on or before the last day of
the year following the year in which such expenses were incurred.”

     

    1.4 A new
sentence shall be added at the end of Section 4(a)(iv) to read as
follows:

     

    “The
provision of the Company-paid outplacement services shall not extend beyond the
last day of the second year following the year in which the Executive’s
termination of employment occurs.”

    
      
        
        

      

      
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    1.5 A new
Section 4(d) shall be added at the end of Section 4 to read as
follows:

     

    “(d)  Time and Form of
Payment.  Payment of the lump sum payment described in Section
4(a)(i) and of the Accrued Amounts under Sections 4(b) and 4(c) shall be made in
a lump sum in cash within 30 days after the Date of Termination, provided that
with respect to termination of employment for reasons other than death, the
payment at such time can be characterized as a ‘short-term deferral’ for
purposes of Code Section 409A or as otherwise exempt from the provisions of Code
Section 409A, or if any portion of the payment cannot be so characterized, and
the Executive is a ‘specified employee’ under Code Section 409A, such portion of
the payment shall be delayed until the earlier to occur of the Executive’s death
or the date that is six months and one day following the Executive’s termination
of employment.”

     

    1.6 The third
sentence of Section 9(a) of the Agreement is hereby amended and a new sentence
is added immediately thereafter to read as follows:

     

    “In the
event of a Delaware Proceeding, the Company shall pay all of the Executive’s
reasonable travel expenses incurred by him for the Executive’s travel between
the Executive’s principal residence and/or principal place of business at such
time and Delaware in connection with such Delaware Proceeding, provided that
such travel expenses are incurred during the course of the Delaware
Proceeding.  Payment or reimbursement of such travel expenses shall be
made promptly and in no event later than December 31 of the year following the
year in which such expenses were incurred, and the amount of such travel
expenses eligible for payment or reimbursement in any year shall not affect the
amount of such expenses eligible for payment or reimbursement in any other
year.”

     

    1.7 The
second sentence of Section 9(g) of the Agreement is hereby amended and a new
sentence is added immediately thereafter to read as follows:

     

    “In the
event that the validity of this Agreement is challenged (other than by the
Executive or the Executive’s representatives), the Executive’s reasonable
expenses incurred therewith during the course of such challenge shall be
reimbursed by the Company.  Reimbursement of such expenses shall be
made promptly and in no event later than December 31 of the year following the
year in which such expenses were incurred, and the amount of such expenses
eligible for reimbursement in any year shall not affect the amount of such
expenses eligible for reimbursement in any other year.”

     

    1.8 A new
Section 9(k)(v) shall be added at the end of Section 9(k) to read as
follows:

     

    “(v)  Notwithstanding
anything to the contrary in the foregoing provisions of this Section 9(k), in no
event shall payment of any Gross-Up Payment or any Underpayment be made later
than December 31 of the year next following the year in which the Excise Tax is
remitted to the taxing authority.  Reimbursement of any costs or
expenses incurred by the Executive due to a tax audit or litigation described in
Section 9(k)(iii) above shall be made by December 31 of the year following the
year in which the taxes that are the subject of the audit or litigation are
remitted  to the taxing authority, or where as a result of such audit
or litigation no taxes are remitted, by December 31 of the year following the
year in which the audit is completed or there is a final and nonappealable
settlement or other resolution of the litigation.”

    
      
        
        

      

      
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    1.9 A new
second sentence of Section 9(l) shall be added to read as follows:

     

    “The
Parties intend that this Agreement and the benefits provided hereunder be
interpreted and construed to comply with Code Section 409A to the extent
applicable thereto.”

     

    1.10 Section
10(a)(i)(4) of the Agreement is hereby amended to read as follows:

     

    “(4) any
accrued but unused vacation allowances for the year in which the Date of
Termination occurs, and”

     

    1.11 Section
10(a)(ii)(4) of the Agreement is hereby amended to read as follows:

     

    “(4) any
accrued vacation pay to the extent not theretofore paid, and”

     

    1.12 Section
10(aa)(i) of the Agreement is hereby amended to read as follows:

     

    “(i) a
material failure by the Company to comply with any of the material provisions
regarding the Executive’s position and duties set forth in Section 1 hereof or
the Executive’s compensation and benefits set forth in Section 2 hereof, other
than (A) an isolated, insubstantial or inadvertent failure not occurring in bad
faith and which is remedied by the Company promptly after receipt of notice
thereof given by the Executive, or (B) to the extent necessary to avoid the
imposition of any additional tax under Code Section 409A,”

     

    2. Capitalized
terms used but not defined in this Amendment shall have the meanings ascribed to
such terms in the Agreement.

     

    3. This
Amendment, which may be executed in one or more counterparts, is executed as and
shall constitute an amendment to the Agreement and shall be construed in
connection with and as a part of the Agreement.  Except as amended by
this Amendment, all the terms and provisions of the Agreement shall remain in
full force and effect.

     

    4. This
Amendment embodies the entire agreement and understanding between the Parties
related to the subject matter hereof and supersedes and replaces any other
agreement or understanding between the Parties regarding the subject matter of
this Amendment, whether written or oral, prior to this
Amendment.  This Amendment may not be modified, amended, varied or
supplemented except by an instrument in writing signed by the Company and the
Executive.

     

    5. This
Amendment shall be interpreted and enforced in accordance with the laws of the
State of Delaware, without regard to any conflict of laws rule or
provision.

     

    
      
        
           

        

         

      

      
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    IN
WITNESS WHEREOF, each Party has executed this Amendment effective as of the date
first written above.

     

    BRISTOW
GROUP INC.

    
    

     

    
      	 	 By:	 /s/Perry L.
      Elders	 
	 	 Name:	 Perry L.
      Elders
	 	 Title	 Executive Vice
      President and
	 	 	 Chief
      Financial Officer
	 	 /s/ William E.
      Chiles	
               

               

               

               

            
	 	
              William
      E. Chiles

            

    

     

    
      
        
        

      

      
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