Document:

EX-10.1

Exhibit 10.1

SPARTON SHORT-TERM INCENTIVE PLAN

SECTION 1

BACKGROUND AND PURPOSE

          1.1 Effective Date.  The Compensation Committee of the Board has prepared the Plan
which will become effective upon approval and adoption by the Board.

          1.2 Purpose of the Plan.  The Plan is intended to increase shareholder value and
ensure the success of the Company by motivating Participants to achieve all defined financial
and operating goals and strategic objectives of the business. The Plan is further intended to
attract and retain key management Employees essential to the success of the business and to
provide competitive compensation programs consistent with market competitive pay practices.

SECTION 2

DEFINITIONS

     The following words and phrases shall have the following meanings unless a different meaning
is plainly required by the context:

          2.1 “Actual Incentive Award” means the actual award (if any) payable to a
Participant for the Annual Performance Period.

          2.2 “Affiliate” means any corporation or other entity (including, but not limited
to, partnerships and joint ventures) controlled by the Company.

          2.3 “Annual Performance Period” means the period of time for the measurement of
the performance criteria that must be met to receive an Actual Incentive Award, as determined
by the Committee in its sole discretion.

          2.4 “Board” means the Board of Directors of the Company.

          2.5 “Code” means the Internal Revenue Code of 1986, as amended. Reference to a
specific section of the Code or regulation thereunder shall include such section or regulation,
any valid regulation promulgated thereunder, and any comparable provision of any future
legislation or regulation amending, supplementing or superseding such section or regulation.

          2.6 “Committee” means the committee appointed by the Board (pursuant to
Section 5.1) to administer the Plan. Until otherwise determined by the Board, the Company’s
Compensation Committee shall constitute the Committee.

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          2.9 “Company” means Sparton Corporation, an Ohio company, and all it’s subsidiaries,
or any successor thereto.

          2.10 “Disability” means a permanent and total disability determined in
accordance with uniform and nondiscriminatory standards adopted by the Committee
from time to time.

          2.11 “Employee” means any executive or key employee of the Company or of an
Affiliate, whether such individual is so employed at the time the Plan is adopted
or becomes so employed subsequent to the adoption of the Plan.

          2.12 “Participant” means as to any Annual Performance Period, an Employee
who has been selected by the Committee for participation in the Plan for that
Annual Performance Period.

          2.13 “Incentive Award Pool” means the pool of funds available for
distribution to Participants. Subject to the terms of the Plan, the Committee
establishes the Incentive Award Pool for each Annual Performance Period.

          2.14 “Plan” means this Sparton Short-Term Incentive Plan as may be amended
pursuant to Section 6.1.

          2.15 “Individual Potential Award Percentage” means the individual potential
award percentage for each Participant for the Annual Performance Period, as determined by
the Committee in accordance with Section 3.2.

          2.16 “Termination of Service” means a cessation of the employee-employer
relationship between an Employee and the Company or an Affiliate for any reason,
including, but not by way of limitation, a termination by resignation, discharge,
death, Disability, retirement, or the disaffiliation of an Affiliate, but excluding
any such termination where there is a simultaneous reemployment by the Company or
an Affiliate.

          2.17 “Salary” means the salary actually paid to an Employee during the portion of the
Annual Performance Period in which he/she was a Participant.

SECTION 3

SELECTION OF PARTICIPANTS AND DETERMINATION OF AWARDS

          3.1  Selection of Participants.  The Committee, with the approval of the Board,
shall select, considering recommendations from the Company, the Employees who shall be
Participants for any Annual Performance Period. Participation in the Plan is in the sole
discretion of the Committee, on an Annual Performance Period by Annual Performance Period
basis. Accordingly, an Employee who is a Participant for a given Annual Performance Period is
not

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assured of being selected for participation in any subsequent Annual Performance Period or
Periods.

          3.2 Determination of Individual Potential Award Percentages.  The Committee, subject
to approval by the Board, shall establish, considering recommendations from the Company, an
Individual Potential Award Percentage for each Participant equal to a percentage of such
Participant’s Salary.

          3.3  Incentive Award Pool.  For each Annual Performance Period, the Committee, subject
to approval by the Board, shall establish an Incentive Award Pool. Actual Performance Awards
shall be paid from the Incentive Award Pool.

          3.4 Discretion to Determine Criteria.  Notwithstanding any contrary provision of the
Plan, the Company shall determine and recommend, and the Committee shall, in its sole
discretion, approve the performance goals and objectives applicable to any Actual Incentive
Award. The requirements may be on the basis of any factors the Committee determines relevant,
and may be on an individual, business unit or Company-wide basis. Failure to meet the
performance goals and objectives of the Annual Performance Period will result in the
participant’s failure to earn the Actual Incentive Award, except as otherwise determined by the
Committee.

          3.5 Actual Incentive Award Payments. Actual Incentive Award Payments will be
determined, based on audited achievement levels of established performance goals and objectives for
the Annual Performance Period, by the Committee and approved by the Board.

          3.6 Prorating of Actual Incentive Award Payments. Actual Incentive Award payments will
be prorated for newly hired employees and employees promoted to eligible incentive plan positions
for the portion of the Annual Performance Period they are Participants in the plan.

          3.7 Quarterly Communications. On a quarterly basis the Company will communicate to all
Participants the progress against the established goals and objectives of the Annual Performance
Period.

SECTION 4

PAYMENT OF AWARDS

          4.1 Right to Receive Payment.  Each Actual Incentive Award shall be paid
solely from the general assets of the Company. Nothing in this Plan shall be construed to
create a trust or to establish or evidence any Participant’s claim of any right other than
as an unsecured general creditor with respect to any payment to which he or she may be
entitled.

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          4.2 Timing of Payment.  Payment of each Actual Incentive Award shall be made
as soon as practicable as determined by the Committee after the completion of the independent audit
and filing of the annual report on Form 10-K for the Annual Performance Period during which the
Actual Performance Award was earned. Unless otherwise determined by the Committee, to receive
payment of an Award, a Participant must be employed by the Company or any Affiliate on the last day
of the Annual Performance Period and, subject to Section 4.4, on the date of payment of the Actual
Incentive Award.

          4.3 Form of Payment.  Each Actual Incentive Award shall be paid in
cash in a single lump sum.

          4.4 Payment in the Event of Death or Disability.  If a Participant’s
employment is terminated because of death or Disability after the end of a prior Annual
Performance Period but prior to the payment of an Actual Incentive Award earned by him or
her prior to death or Disability for such Annual Performance Period, the Actual Incentive
Award with respect to such Annual Performance Period shall be paid to his or her estate,
subject to section 6.5, or to the Participant, as the case may be, subject to the
Committee’s authority to reduce or eliminate any Actual Incentive Award otherwise payable,
as provided in 

Sections 6.7 and 6.9.

SECTION 5

ADMINISTRATION

          5.1 Committee is the Administrator.  The Plan shall be administered by
the Committee. The Committee shall consist of not fewer than two (2) non-employee members
of the Board. The members of the Committee shall be appointed from time to time by, and
serve at the pleasure of, the Board.

          5.2 Committee Authority.  It shall be the duty of the Committee to
administer the Plan in accordance with the Plan’s provisions. The Committee shall have
all powers and discretion necessary or appropriate to administer the Plan and to control
its operation, including, but not limited to, the power to (a) determine which Employees
shall be granted awards, (b) prescribe the terms and conditions of awards, (c) interpret
the Plan and the awards, (d) adopt such procedures and sub-plans as are necessary or
appropriate to permit participation in the Plan by Employees who are foreign nationals or
employed outside of the United States, (e) adopt rules for the administration,
interpretation and application of the Plan as are consistent therewith, and (f) interpret,
amend or revoke any such rules.

          5.3 Decisions Binding.  All determinations and decisions made by
the Committee and any delegate of the Committee pursuant to the provisions of the
Plan shall be final, conclusive, and binding on all persons, and shall be given
the maximum deference permitted by law.

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          5.4 Delegation by the Committee.  The Committee, in its sole discretion and on
such terms and conditions as it may provide, may delegate all or part of its authority and powers
under the Plan to one or more members of the Board of Directors and/or officers of the Company.

SECTION 6

GENERAL PROVISIONS

          6.1 Tax Withholding.  The Company shall withhold all applicable taxes from any Actual
Incentive Award, including any federal, state and local taxes (including, but not limited to,
the Participant’s FICA and SDI obligations).

          6.2 No Effect on Employment or Service.  Nothing in the Plan shall interfere with or
limit in any way the right of the Company to terminate any Participant’s employment or service
at any time, with or without cause. For purposes of the Plan, transfer of employment of a
Participant between the Company and any one of its Affiliates (or between Affiliates) shall not
be deemed a Termination of Service. Employment with the Company and its Affiliates is on an
at-will basis only. The Company expressly reserves the right, which may be exercised at any
time and without regard to when during an Annual Performance Period such exercise occurs, to
terminate any individual’s employment with or without cause, and to treat him or her without
regard to the effect that such treatment might have upon him or her as a Participant.

          6.3 Participation.  No Employee shall have the right to be selected to receive an
award under this Plan, or, having been so selected, to be selected to receive a future award.

          6.4 Successors.  All obligations of the Company under the Plan, with respect
to awards granted hereunder, shall be binding on any successor to the Company, whether the
existence of such successor is the result of a direct or indirect purchase, merger,
consolidation, or otherwise, of all or substantially all of the business or assets of the
Company.

          6.5 Beneficiary Designations.  If permitted by the Committee, a
Participant under the Plan may name a beneficiary or beneficiaries to whom any
vested but unpaid award shall be paid in the event of the Participant’s death.
Each such designation shall revoke all prior designations by the Participant
and shall be effective only if given in a form and manner acceptable to the
Committee. In the absence of any such designation, any vested benefits
remaining unpaid at the Participant’s death shall be paid to the Participant’s
estate.

          6.6 Nontransferability of Awards.  No benefit granted under the Plan
may be sold, transferred, pledged, assigned, or otherwise alienated or
hypothecated, other than by will, by the laws of descent and distribution, or
to the

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limited extent provided in Section 6.5. All rights with respect to an award
granted to a Participant shall be available during his or her lifetime only to
the Participant.

          6.7 Unforeseen Circumstances. The achievement of goals or objectives which are part
of a Participant’s plan may be affected by unforeseen windfalls or acts of God. In its sole
discretion, the Committee may adjust actual results by the effects of such events for the purpose
of determining awards.

          6.8 Accrual of Awards. If individual objectives are based on financial metrics such
as operating income or net profit before taxes, they shall be determined after the accrual for all
company incentive plans and programs, including those of this Plan.

          6.9 Conflict with Incentive Award Pool. If the Committee establishes an Incentive
Award Pool for a certain Annual Performance Period, then all Actual Incentive Awards, in the
aggregate, shall not exceed the amount of the Pool. If the aggregate amount of Actual Incentive
Awards is calculated to exceed the Incentive Award Pool, then they shall all be reduced
proportionally to be equal to the Incentive Award Pool in the aggregate.

          6.10 Discretionary Award. The Committee may, in its sole discretion, grant an award
for an extraordinary individual contribution which substantially benefits the Company but is not
reflected in the achievement of individual goals in a Participant’s Plan.

SECTION 7

AMENDMENT, TERMINATION AND DURATION

          7.1 Amendment, Suspension or Termination.  The Board, in its sole discretion, may amend or
terminate the Plan, or any part thereof, at any time and for any reason. The amendment, suspension
or termination of the Plan shall not, without the consent of the Participant, alter or impair any
rights or obligations under any Actual Incentive Award theretofore earned by such Participant. No
award may be granted during any period of suspension or after termination of the Plan.

          7.2 Duration of the Plan.  The Plan shall commence on the date specified herein and
shall remain in effect until terminated.

SECTION 8

LEGAL CONSTRUCTION

          8.1 Severability.  In the event any provision of the Plan shall be
held illegal or invalid for any reason, the illegality or invalidity shall not
affect the remaining parts of the Plan, and the Plan shall be construed and
enforced as if the illegal or invalid provision had not been included.

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          8.2 Requirements of Law.  The granting of incentive awards under
the Plan shall be subject to all applicable laws, rules and regulations, and to
such approvals by any governmental agencies or national securities exchanges as may
be required.

          8.3 Captions.  Captions are provided herein for convenience only,
and shall not serve as a basis for interpretation or construction of the Plan.

Approved and adopted by the Board of Directors this 26th day of June, 2009

7EX-10.1

EXHIBIT 10.1

AMENDMENT TO TIME SHARE AGREEMENT

     This Amendment to Time Share Agreement (this “Amendment”) between STEELCASE INC.
(“Timesharer”) and JAMES P. HACKETT (“Timesharee”) is made this 18th day of May, 2009.

RECITALS

     WHEREAS, Timesharer and Timesharee entered into a certain Aircraft Time-Sharing Agreement
dated December 15, 2005 (the “Time Share Agreement”) to allow Timesharee use of certain designated
aircraft owned or leased by Timesharer; and

     WHEREAS, Timesharer and Timesharee now wish to amend the Time Share Agreement to change the
definition of “Aircraft.”

     NOW THEREFORE, for and in consideration of the mutual promises set forth herein, and for good
and valuable consideration, the receipt of which is hereby acknowledged, the parties amend the Time
Share Agreement as follows:

	1.	 	All references to the “Aircraft” in the Time Share Agreement shall now mean that certain
Falcon 900EX aircraft bearing Federal Aviation Administration Registration No. N375SC (to be
changed to N377SC) and Manufacturer’s Serial No. 215 currently owned or leased by Timesharer.
	 
	2.	 	Except to the extent modified by this Amendment, the Time Share Agreement is hereby ratified
and affirmed.

The parties have executed this Amendment as of the date set forth above.

	 	 	 	 	 
	 	TIMESHARER:

STEELCASE INC.

 	 
	 	By:  	/s/ Gary P. Malburg
 	 
	 	 	Gary P. Malburg 	 
	 	 	Vice President, Finance & Treasurer 	 
	 
	 	TIMESHAREE:

 	 
	 	/s/ James P. Hackett
 	 
	 	James P. Hackett

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