Document:

Exhibit 10.9.3

 

FIRST
AMENDMENT

TO THE

ALLIANT TECHSYSTEMS INC.

NONQUALIFIED DEFERRED COMPENSATION PLAN

 

Alliant Techsystems Inc., a Delaware corporation
(hereinafter sometimes referred to as “ATK”), pursuant to the authority and
power reserved to it in Section 9.1 of the Alliant Techsystems Inc.
Nonqualified Deferred Compensation Plan (hereinafter referred to as the
“Plan”), hereby adopts and publishes this First Amendment to said Plan
effective as of February 2, 2004.

 

1.                                      Section 1
of said Plan shall be, and hereby is, amended by deleting
subsection 1.2.17 of Section 1.2 thereof in its entirety and
substituting therefor the following subsection 1.2.17:

 

1.2.17.               Participant
– an employee of an Employer who is designated as or determined to
be eligible to participate in the Plan in accordance with the provisions of
Section 2 and who has elected to defer compensation under Section 3,
or an employee or former employee of Thiokol who is designated as or determined
to be eligible to participate in the Plan in accordance with the provisions of
Section 2, who has been determined to be eligible to participate in the
Plan based upon participation in the Thiokol Deferred Executive Bonus Program
and for whom amounts allocated to accounts under that program are transferred
to and credited to Transfer Accounts under this Plan.  A Participant shall be considered to continue as a Participant in
this Plan until the date of the Participant’s death or, if earlier, the date
when the Participant no longer has any Account under this Plan (that is, the
Participant has received a distribution of all of the amounts credited to the
Account of the Participant).

 

2.                                      Section 1
of said Plan shall be, and hereby is, further amended by designating
subsection 1.2.23 of Section 1.2 thereof, the definition of the term
“Valuation Date,” as subsection 1.2.24.

 

3.                                      Section 1
of said Plan shall be, and hereby is, further amended by adding thereto the
following new subsection 1.2.23 to Section 1.2 thereof:

 

1.2.23.               Transfer
Account – the separate bookkeeping account representing the separate
unfunded and unsecured general obligation of the Employers established with
respect to each person who is a Participant in this Plan for whom dollar
amounts are credited pursuant to and in accordance with Section 3.7 and
from which are subtracted payments or distributions made pursuant to
Section 3.7 or Section 7.

 

 

4.                                      Section 2
of said Plan shall be, and hereby is, amended by deleting Section 2.1
thereof in its entirety and substituting therefor the following Section 2.1:

 

2.1                                 Eligibility.  Eligibility to participate in the Plan shall be governed by and
determined in accordance with the provisions of Section 2.1.1 and
Section 2.1.2.

 

2.1.1.                     Eligibility
to Participate.  Eligibility
to participate in the Plan shall be determined based upon the requirements of
the provisions of paragraphs (a) and (b) must be satisfied.

 

(a)                                  Eligibility
to participate in the Plan shall be limited to only the following
classifications of employees:

 

(i)                                     any
employee of an Employer who is eligible to participate in a Bonus Plan and who
is selected for participation in this Plan by the CEO (or any person authorized
to act on behalf of the CEO by the Committee) and, with respect to any
Section 16 Officer, is selected for participation in this Plan by the
Committee;

 

(ii)                                  any
employee who is an active participant in the Alliant Techsystems Inc.
Management Deferred Compensation Plan who elects, effective as of
January 1, 2003, to cease participation in that plan, resulting in the
termination of salary and bonus deferral elections made in accordance with that
plan by the participant and the cessation of amounts credited to any account of
the participant under that plan, and to participate in this Plan; and

 

(iii)                               any employee or former
employee of Thiokol who was an active participant in the Thiokol Deferred
Executive Bonus Program and who has not yet received the entire benefit payable
to such person under that program and with respect to whom the balance of the
amount allocated to the account of that person pursuant to the Thiokol Deferred
Executive Bonus Program shall be transferred to and credited to a Transfer
Account established and maintained under the Plan for such person by reason of
the consolidation and merger of the Thiokol Deferred Executive Bonus Program
with and into this Plan in a manner consistent with the requirements of
section 414(l) of the Internal Revenue Code and section 1.414(l)-1 of
the Treasury Regulations regarding a merger and consolidation of assets and liabilities,
but without regard to any actual merger and consolidation of assets.

 

(b)                                 Subject
to Section 2.2 of the Plan, such an eligible employee or person must then
be selected for participation in the Plan by the CEO (or any

 

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person authorized to act
on behalf of the CEO by the Committee) and, with respect to any Section 16
Officer, is selected for participation in the Plan by the Committee, and shall
be eligible to become a Participant as of the day designated by the CEO or,
with respect to a Section 16 Officer, the Committee (or, if the CEO or the
Committee does not designate a day of initial participation, as of the first
day of the next following Plan Year). 
The CEO (or the Committee) shall not select any employee for
participation unless the CEO (or the Committee) determines that such employee
is a member of a select group of management or highly compensated employees (as
that phrase has been interpreted under ERISA). 
The Committee may at any time determine that a Participant is no longer
eligible to make voluntary deferrals from salary under Section 3.1, or
Bonus Plan cash payments or CVA amounts under Section 3.2, or to defer any
performance shares under Section 3.5, or restricted stock under
Section 3.6.  The Committee also
may determine that a Participant is not eligible for the credits for the
Section 401(k) Plan Supplement under Section 3.3 for any Plan Year at
any time before such credits have actually been made.

 

2.1.2.                     Determination
of Eligibility.  The
determinations made by the CEO and the Committee pursuant to Section 2.1.1
with respect to eligibility to participate in the Plan shall be conclusive and
binding on all parties.  Furthermore,
the CEO or, with respect to Section 16 Officers, the Committee may in its
discretion determine that a Participant who performs or who has performed
services to or with respect to an Employer is no longer eligible to develop
benefits under the Plan.  In such event,
any benefits payable to the Participant under the Plan will be determined as of
the date such Participant ceased such eligibility and will be distributable in
accordance with Section 3.7 or Section 7 of the Plan.

 

5.                                      Section 2
of said Plan shall be, and hereby is, further amended by deleting
Section 2.2 thereof in its entirety and substituting therefor the
following Section 2.2:

 

2.2                                 Participation.  Any person determined to be eligible to participate in the Plan
under Section 2.1 shall become a Participant as of the date determined
under Section 2.1, provided, however, that such person files with the
Committee a completed deferral election form in accordance with the
requirements of Section 3 of the Plan electing to participate in the Plan
or is otherwise considered to be a Participant as of the date determined by the
Committee by reason of the credit of the amount allocated to the account of
such person under the Thiokol Deferred Executive Bonus Program to a Transfer
Account under this Plan pursuant to Section 3.7.  Subject to the provisions of the Plan, once a person becomes a
Participant in the Plan, the person shall remain a Participant until his or her
death or, if earlier, the date on which occurs a distributable event under
either Section 3.7 or Section 7 of the Plan and the entire benefit which
may be payable to or on behalf of such Participant under the Plan have been
distributed.

 

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6.                                      Section 3
of said Plan shall be, and hereby is, amended to clarify the manner in which
the Plan is intended to be construed and interpreted with respect to amounts or
units that may be credited to an Account or Accounts of a Participant under the
Plan by the Employer by deleting Section 3.4 thereof in its entirety and
substituting therefor the following Section 3.4:

 

3.4                                 Employer Discretionary Supplements.  Upon written notice to a Participant and to
the Committee, the CEO (or, for any Section 16 Officer, the Committee) may
(but is not required to) determine at any time and from time to time that an
additional amount, or amounts, or units (measured by the value of ATK common
stock) shall be credited to an Account or Accounts of the Participant.  Such notice shall specify the amount,
amounts, or units to be credited to the Account or Accounts of such Participant
and any terms and conditions applicable with respect to any such amount,
amounts or units, and shall specify the date or dates on which such amount,
amounts, or units shall be credited to such Account or Accounts.  Notwithstanding Section 5, such notice
may also establish vesting rules for such amount or amounts or such units, in
which case a separate Account or separate Accounts may be established for such
Participant.

 

7.                                      Section 3
of said Plan shall be, and hereby is, further amended by deleting
Section 3.7 thereof in its entirety and substituting therefor the
following Section 3.7:

 

3.7.                              Transfer Amounts.  The amounts subject to a transfer pursuant to this
Section 3.7 and the requirements regarding such transfer as herein
provided shall apply with respect to the benefits that may be payable under the
Plan.

 

(a)                                  If
a participant in the Alliant Techsystems Inc. Management Deferred Compensation
Plan elects to cease to participate in that plan and to participate in this
Plan pursuant to Section 2 of this Plan, effective as of January 1,
2003, the Participant’s elections to defer salary and bonus amounts that were
made under that plan and in effect at the time of such election to cease to
participate in that plan and to participate in this Plan shall terminate, effective
as of January 1, 2003, and no additional amounts shall be credited to such
Participant’s account or accounts under that plan as of the effective date of
such election to cease to participate in that plan and to participate in this
Plan.

 

(b)                                 If
a participant in the Thiokol Deferred Executive Bonus Program becomes a
Participant in this Plan pursuant to Section 2 of this Plan, effective as
of February 2, 2004, the amounts that were credited to the account of such
participant under that program shall be transferred to and credited to a
Transfer Account established and maintained under this Plan for such
participant in a manner consistent with the requirements of section 414(l)
of the Internal Revenue Code and section 1.414(l)-1 of the Treasury
Regulations regarding a merger or consolidation of assets and

 

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liabilities, but without
regard to any actual merger or consolidation of assets.  The amount credited to a Transfer Account of
a Participant who had been a participant in the Thiokol Deferred Executive
Bonus Program shall be determined as of January 31, 2004, and credited to
the Transfer Account under this Plan as the opening balance as of
February 2, 2004.

 

3.7.1.                     Transfer
Accounts.  The amounts
subject to a transfer pursuant to this Section 3.7 shall be credited to
Transfer Accounts or other Accounts (or sub-accounts) under this Plan in
accordance with this Section 3.7.1.

 

(a)                                  Upon
the election of a Participant to cease to participate in the Alliant
Techsystems Inc. Management Deferred Compensation Plan and to participate in
this Plan, the amounts credited to the account or accounts of that participant
under the Alliant Techsystems Inc. Management Deferred Compensation Plan shall
be transferred to and credited to a Transfer Account or other Account, Accounts
or any sub-account established for the benefit of the Participant under the
Plan and shall be subject to the terms and conditions of this Plan.  The value of the benefits that were payable
to such participant under the Alliant Techsystems Inc. Management Deferred
Compensation Plan shall, after such transfer and credit to such Transfer
Account, or other Account, Accounts or sub-account under this Plan, be
determined, except as otherwise provided under this Section 3.7, valued
and payable under this Plan and no benefit shall be determined, valued or
payable to or with respect to that participant under the Alliant Techsystems
Inc. Management Deferred Compensation Plan, and all rights under the Alliant
Techsystems Inc. Management Deferred Compensation Plan shall be waived by that
participant and forfeited.

 

(b)                                 Effective
as of February 2, 2004, the balance of any amount credited to the account
of a participant in the Thiokol Deferred Executive Bonus Program as of January 31,
2004, who becomes a Participant in this Plan shall be transferred to and
credited to a Transfer Account of the Participant under the Plan and shall be
subject to the terms and conditions of this Plan.  The value of the benefits that were payable to the participant
under the Thiokol Deferred Executive Bonus Program, which program shall be
consolidated with and merged into this Plan, shall, after such transfer and
credit to such Transfer Account under this Plan, be determined, valued and
payable under this Plan subject to the terms and conditions of this Plan, and
no benefit shall be separately determined, valued or payable to or with respect
to that participant under the Thiokol Deferred Executive Bonus Program.

 

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3.7.2.                     Distribution
of Transfer Amounts. 
Notwithstanding any provision in Section 7 of the Plan apparently
to the contrary, and except as otherwise provided under this Section 3.7,
the distribution requirements of this Section 3.7.2 shall apply.

 

(a)                                  With
respect to amounts credited to an account, accounts or sub-accounts of a
participant under the Alliant Techsystems Inc. Management Deferred Compensation
Plan that have been transferred to and credited to the Transfer Account or
other Account or Accounts or sub-accounts for that participant under this Plan
pursuant to this Section 3.7, such amounts so credited to the Transfer
Account or other Account, Accounts or sub-accounts of the Participant shall be
distributed pursuant to and in accordance with the terms and conditions of this
Plan, provided, however, that, subject to such terms and conditions as
determined by ATK, distributions currently in effect pursuant to elections made
under the Alliant Techsystems Inc. Management Deferred Compensation Plan shall
continue to be made in accordance with such elections as if no amounts were
transferred to or credited to Accounts under this Plan for purposes of such
distributions.

 

(b)                                 With
respect to amounts credited to the account of a participant in the Thiokol
Deferred Executive Bonus Program that have been transferred to and credited to
a Transfer Account for that participant under this Plan pursuant to this
Section 3.7, such amounts shall be distributed pursuant to and in
accordance with the terms and conditions of this Plan, which terms and
conditions shall specifically include the restrictions and limitations of
Section 3.7.3 hereof.

 

3.7.3.                     Restrictions
and Limitations. 
Notwithstanding any provision in Section 7 or this Section 3.7
or the Plan apparently to the contrary, the restrictions and limitations shall
apply with respect to amounts subject to a transfer pursuant to this
Section 3.7.

 

(a)                                  If
a Participant in this Plan had made an in-service distribution election under
the Alliant Techsystems Inc. Management Deferred Compensation Plan and such
election was in effect at the time of the Participant’s election to cease to
participate in that plan, that in-service distribution election shall be
treated and given effect as an in-service distribution election under this Plan
made in accordance with the provisions of this Plan, except, however, that such
in-service distribution shall be made in accordance with the election made
under the Alliant Techsystems Inc. Management Deferred Compensation Plan as if
no transfer of such amount to this Plan had occurred.  Furthermore, any amount allocated by a Participant to the
“restricted bonus account” under the Alliant Techsystems Inc. Management
Deferred Compensation Plan at the time of the Participant’s election to cease
to participate in that plan shall be allocated to a “restricted bonus
sub-account” Measuring Investment established under this Plan and such amount
shall continue to be subject to the restrictions and limitations applicable to
that amount as if no transfer of such amount to this Plan had occurred.  Any amount allocated by a Participant to the
deemed (but not actual) investment in the common stock of ATK and valued as if
so invested under the Alliant Techsystems Inc. Management Deferred Compensation
Plan at the time of

 

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the Participant’s
election to cease to participate in that plan shall be allocated to the ATK
common stock Measuring Investment established under this Plan and such amount
shall be subject to the provisions of this Plan and such other terms and
conditions as determined by ATK to satisfy any applicable requirements of the
Sarbanes-Oxley Act of 2002, including any applicable requirements regarding
notice of blackout periods pursuant to the Act and the guidance issued by the
Department of Labor under section 2520.101-3 of the Department of Labor
Regulations.

 

(b)                                 A
participant in the Thiokol Deferred Executive Bonus Program who becomes a
Participant in this Plan pursuant to Section 2 shall be considered a
Participant in this Plan only with respect to the Transfer Account established
for the benefit of the Participant pursuant to this Section 3.7 unless
such Participant satisfies the definition of Participant in Section 2.1 of
the Plan, has been selected for participation in the Plan as provided in
Section 2.1 of the Plan, and files with the Committee a completed deferral
election form in accordance with the requirements of Section 3 of the Plan
and elects to participate in the Plan, in which event the benefits provided to
such Participant shall be governed by the terms and conditions of the Plan and
the elections made by the Participant. 
The amounts allocated to the account of each such Participant under the
Thiokol Deferred Executive Bonus Program shall be credited to the Transfer
Account established under this Plan for each such Participant and such Transfer
Account shall become subject to all of the terms and conditions of this
Plan.  Accordingly, the following rules
shall apply to such Transfer Account established with respect to a participant
in the Thiokol Deferred Executive Bonus Program who becomes a Participant in
this Plan:

 

(i)                                     a
lump sum amount shall be determined under the Thiokol Deferred Executive Bonus
Program as of January 31, 2004, and that amount shall be credited to the
participant’s Transfer Account (and to any sub-accounts established thereunder)
under this Plan and shown as the opening balance of the Transfer Account as of
February 2, 2004;

 

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(ii)                                  except
as provided under subparagraph (v) of this paragraph (b), prior to
February 2, 2004, each such Participant shall complete a distribution
election form pursuant to the provisions of this Plan and all distributions
from the Transfer Account of the Participant shall be made in accordance with
the provisions of this Plan and the elections made by such Participant;

 

(iii)                               each such Participant
shall be permitted to allocate amounts credited to the Participant’s Transfer
Account, which amounts shall initially be allocated to the Salary-Fixed Fund
Account, to the Measuring Investments made available under the Plan for
purposes of measuring the value of the Participant’s Transfer Account,
provided, however, that the Participant shall not be permitted to allocate
amounts attributable to the transferred amounts credited to the Transfer
Account to the ATK common stock Measuring Investment, except upon a subsequent
reallocation of the amounts attributable to such transferred amounts held in
the Transfer Account in compliance with the terms and conditions set forth in
Sections 4.3 and 4.4 of the Plan; and, the Participant shall, pursuant to
Section 4, be permitted to request to allocate or reallocate amounts
credited to the Transfer Account among one or more Measuring Investments,
including the ATK common stock Measuring Investment pursuant to and in
accordance with Section 4.4 of the Plan;

 

(iv)                              the
Transfer Account of each such Participant shall be fully (100%) vested and
nonforfeitable at all times (except for early distribution penalties described
in Section 7), which, for purposes of the Plan, determines the
Participant’s interest in the benefit described in the Transfer Account and
under this Plan that may be payable to or with respect to the Participant in
accordance with and subject to the terms of the Plan; and

 

(v)                                 subject
to such terms and conditions as determined by the Committee, a participant in
the Thiokol Deferred Executive Bonus Program who had made a valid and effective
election with respect to the commencement and form of payment of the benefit
payable to the participant under that program shall have the payment of such
benefit payable in accordance with such election as provided below:

 

(A)                              an
effective election made by C. Lathair Munk pursuant to and in accordance
with the Thiokol Deferred Executive

 

8

 

Bonus Program shall
govern the timing and form of the distribution of the balance of the amounts
credited to his account under that program, approximately $9,582.07 as of
January 31, 2004, and said election shall be irrevocable, shall be given
full effect and shall be enforced under this Plan as if such election had
occurred under this Plan, and no other distribution election shall be permitted
under this Plan; accordingly, the distribution of such amount payable to
C. Lathair Munk subject to this subparagraph (v) shall be payable in
two substantially equal annual payments as of September 1, 2004, and September 1,
2005;

 

(B)                                an
effective election made by D. M. Cox pursuant to and in accordance with
the Thiokol Deferred Executive Bonus Program shall govern the timing and form
of the distribution of the balance of the amounts credited to his account under
that program, approximately $59,934.52 as of January 31, 2004, and said
election shall be irrevocable, shall be given full effect and shall be enforced
under this Plan as if such election had occurred under this Plan, and no other
distribution election shall be permitted under this Plan; accordingly, the
distribution of such amount payable to D. M. Cox subject to this
subparagraph (v) shall be payable in two substantially equal annual
payments as of September 1, 2004, and September 1, 2005;

 

(C)                                an
effective election made by B. Jones pursuant to and in accordance with the
Thiokol Deferred Executive Bonus Program shall govern the timing and form of
the distribution of the balance of the amounts credited to his account under
that program, approximately $78,025.78 in total based upon the sum of four
sub-accounts with respective credited amounts of $29,999.44, $17,766.13,
$11,184.12, and $19,076.09 as of January 31, 2004, and said election shall
be irrevocable, shall be given full effect and shall be enforced under this
Plan as if such election had occurred under this Plan, and no other
distribution election shall be permitted under this Plan; accordingly, the
distribution of such amounts payable to B. Jones subject to this
subparagraph (v) shall be payable based upon the balance of the amounts
credited to each sub-account with the amounts credited to each sub-account
payable in substantially equal annual payments as of July 1, 2004,

 

9

 

July 1, 2005,
July 1, 2006, July 1, 2007, and July 1, 2008, with each payment
with respect to each sub-account to be determined by multiplying the balance of
the amount payable to B. Jones with respect to each sub-account determined
as of the date of distribution, by a fraction with one (1) as the numerator and
the number of payments remaining with respect to each sub-account as the
denominator;

 

(D)                               an
effective election made by Oren Phillips pursuant to and in accordance with the
Thiokol Deferred Executive Bonus Program shall govern the timing and form of
the distribution of the balance of the amounts credited to his account under
that program, approximately $26,776.05 as of January 31, 2004, and said
election shall be irrevocable, shall be given full effect and shall be enforced
under this Plan as if such election had occurred under this Plan, and no other
distribution election shall be permitted under this Plan; accordingly, the
distribution of such amount payable to Oren Phillips subject to this
subparagraph (v) shall be payable in substantially equal annual payments
as of June 15, 2005, June 15, 2006, June 15, 2007, June 15,
2008, and June 15, 2009, with each payment to be determined by multiplying
the balance of the amount payable to Oren Phillips determined as of the date of
distribution, by a fraction with one (1) as the numerator and the number of
payments remaining as the denominator; and

 

(E)                                 an
effective election made by D. Shaffer pursuant to and in accordance with
the Thiokol Deferred Executive Bonus Program shall govern the timing and form
of the distribution of the balance of the amounts credited to his account under
that program, approximately $44,586.18 as of January 31, 2004, and said
election shall be irrevocable, shall be given full effect and shall be enforced
under this Plan as if such election had occurred under this Plan, and no other
distribution election shall be permitted under this Plan; accordingly, the
distribution of such amounts payable to D. Shaffer subject to this
subparagraph (v) shall be payable in substantially equal annual payments
over a five (5) year period determined as of the date on which he incurs a
Termination of Employment, with each payment to be determined by multiplying
the balance of the amount

 

10

 

payable to D. Shaffer
determined as of the date of distribution, by a fraction with one (1) as the
numerator and the number of payments remaining as the denominator.

 

8.                                      SAVINGS
CLAUSE.  Save and except as hereinabove
expressly amended, the Plan Statement shall continue in full force and effect.

 

11Exhibit 10.10

 

ALLIANT TECHSYSTEMS INC.
AMENDED AND RESTATED
NON-EMPLOYEE DIRECTOR RESTRICTED STOCK PLAN
 
Amended and Restated as of May 4, 2004

 

Section 1. Introduction
 
1.1 The Plan; Effective Date; Duration.  This Alliant Techsystems Inc. Amended and Restated Non-Employee Director Restricted Stock Plan (the “Plan”), shall be effective as of May 4, 2004.  No award shall be made under the Plan after the expiration of 10 years from August 6, 1996, the original effective date of the Plan.
 
1.2 Purpose.  The purpose of the Plan is to provide each non-employee member (“Director”) of the Board of Directors (the “Board”) of Alliant Techsystems Inc. (the “Corporation”) with awards of shares of common stock, par value $.01 per share (“Stock”), of the Corporation, subject to the restrictions and other provisions of the Plan.  It is intended that the Plan will (a) permit Directors to increase their stock ownership and proprietary interest in the Corporation and their identification with the interests of the Corporation’s stockholders (“Stockholders”), (b) provide a means of compensating Directors that will help attract qualified candidates to serve as Directors, and (c) induce incumbent Directors to continue to serve if the Board desires that they remain on the Board.
 
1.3 Shares of Stock Available Under the Plan.

 

(a) Subject to any adjustments made pursuant to Section 1.3(c), the aggregate number of shares of Stock that may be issued under the Plan shall be 168,750, taking into account the effect of the stock splits in the form of stock dividends that were paid on November 10, 2000, September 7, 2001, and June 10, 2002.
 
(b) Shares of Stock awarded under the Plan may be (i) authorized but unissued shares of Stock, (ii) previously issued shares of Stock reacquired by the Corporation, including shares purchased in the open market (collectively, “Treasury Shares”), or (iii) a combination thereof.
 
(c) Appropriate and equitable adjustment shall be made in the number of shares of Stock available under the Plan and covered by Plan awards in the event of any recapitalization, reorganization, merger, consolidation, spin-off, combination, repurchase, exchange of shares or other securities of the Corporation, stock split, reverse stock split, stock dividend, extraordinary dividend, liquidation, dissolution, or other similar corporate transaction or event affecting the Corporation.

 

 

Section 2. Restricted Stock Awards
 
2.1 Award Dates.
 
(a) As of the date of each annual meeting of Stockholders (“Annual Meeting”), commencing with the 1996 Annual Meeting and terminating December 31, 2001, each Director elected or reelected to the Board at such Annual Meeting shall be awarded 600 shares of restricted Stock (“Restricted Stock”).  Commencing January 1, 2002 and terminating March 31, 2003, as of the date of each Annual Meeting, each Director elected or reelected to the Board at such Annual Meeting shall be awarded 750 shares of Restricted Stock.  Commencing April 1, 2003, as of the date of each Annual Meeting, each Director elected or reelected to the Board at such Annual Meeting shall be awarded shares of Restricted Stock with a market value of $55,000.00 as determined by the closing market price of Stock on the date of such Annual Meeting.
 
(b) A Director who is elected to the Board on a date other than the date of an Annual Meeting shall be awarded shares of Restricted Stock as of such date of election with a market value of $55,000.00 as determined by the closing market price of the Stock on the date of such election.
 
(c) A Director may elect, in writing, on or prior to any date as of which the Director is entitled to receive a Restricted Stock award to waive the Director’s right to receive the award. Any such waiver shall apply to all future Restricted Stock awards the Director would otherwise be entitled to receive, and shall remain in effect until such time as the Director elects, in writing, to revoke such waiver. Any such revocation shall be effective with respect to Restricted Stock awards the Director is entitled to receive as of dates subsequent to the date of the revocation.

 

2.2 Issuance of Stock.  As promptly as practical after the date as of which an award is made, the Corporation shall issue a certificate (“Certificate”), registered in the name of each Director receiving an award, representing the number of shares of Restricted Stock covered by the Director’s award.

 

2.3 Rights of Holders of Restricted Stock.  Upon issuance of a Certificate, the Director in whose name the Certificate is registered shall, subject to the provisions of the Plan, have all of the rights of a Stockholder with respect to the shares of Restricted Stock represented by the Certificate, including the right to vote the shares and receive cash dividends and other cash distributions thereon.
 

2.4 Restricted Period.  Restricted Stock shall be subject to the
restrictions set forth in Sections 2.5 and 2.7 of the Plan and the other
provisions of the Plan for a period (the “Restricted Period”) commencing on the
date as of which the Restricted Stock is awarded (the “Award Date”) and ending
on the earlier of:

 

(a)                                  the
third anniversary of the Award Date with respect to an award of Restricted
Stock to a Director; or

 

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(b)                                 the
first to occur of the following:

 

(i)                                     the
retirement of the Director from the Board in compliance with the Board’s
retirement policy as then in effect;

 

(ii)                                  the
termination of the Director’s service on the Board as a result of the
Director’s not being nominated for reelection by the Board, but not as a result
of the Director’s declining to serve again;

 

(iii)                               the
termination of the Director’s service on the Board because the Director,
although nominated for reelection by the Board, is not reelected by the
Stockholders;

 

(iv)                              the
termination of the Director’s service on the Board because of (A) the
Director’s resignation at the request of the Nominating Committee of the Board,
(B) the Director’s removal by action of the Stockholders, or (C) the sale,
merger or consolidation of, or a similar extraordinary transaction involving,
the Corporation; or

 

(v)                                 the
termination of the  Director’s service
on the Board because of disability or death.]

 

2.5 Forfeiture of
Restricted Stock.  As of the
date (“Termination Date”) a Director ceases to be a member of the Board for any
reason, the Director shall forfeit to the Corporation all Restricted Stock
awarded to the Director for which the Restricted Period has not ended as of or
prior to the Termination Date.

 
2.6 Release of Restricted Stock.  Restricted Stock shall be released to the Director, free and clear of all restrictions and other provisions of the Plan, on the first business day immediately following the last day of the Restricted Period with respect to such Restricted Stock, unless the Director has made a deferral election pursuant to Appendix A to the Plan.
 
2.7 Restrictions.  Restricted Stock shall be subject to the following restrictions during the Restricted Period:
 
(a) The Restricted Stock shall be subject to forfeiture to the Corporation as provided in Section 2.5 of the Plan.
 
(b) The Restricted Stock may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, and neither the right to receive Restricted Stock nor any interest under the Plan may be assigned by a Director, and any attempted assignment shall be void.
 
(c) Each Certificate representing shares of Restricted Stock shall be held by the Corporation and shall, at the option of the Corporation, bear an appropriate restrictive legend and be subject to appropriate “stop transfer” orders.  The Director shall deliver to the Corporation a stock power endorsed in blank to the Corporation.

 

3

 

(d) Any additional Stock or other securities or property (other than cash) that may be issued with respect to Restricted Stock as a result of any stock dividend, stock split, business combination or other event, shall be subject to the restrictions and other provisions of the Plan.

 

(e) The issuance of any Restricted Stock award shall be subject to and contingent upon (i) completion of any registration or qualification of the Stock under any federal or state law or governmental rule or regulation that the Corporation, in its sole discretion, determines to be necessary or advisable; (ii) the execution by the Director and delivery to the Corporation of (A) any agreement reasonably required by the Corporation, and (B) the stock power referred to in Section 2.7(c); and (iii) the payment by the Director to the Corporation of the par value of the Restricted Stock, except to the extent that Treasury Shares are issued in connection with the award.

 

Section 3. General Provisions

 

3.1 Administration.  The Plan shall be administered by a committee (the “Committee”) that shall be the Nominating and Governance Committee of the Board or such other committee of Directors as may be designated by the Board. The Committee shall have full power, discretion and authority to interpret and administer the Plan, except that the Committee shall have no power to (a) determine the eligibility for awards of Restricted Stock or the number of shares of Restricted Stock to be awarded or the timing or value of awards of Restricted Stock to be awarded to any Director, or (b) take any action specifically delegated to the Board under the Plan. The Committee’s interpretations and actions shall, except as otherwise determined by the Board, be final, conclusive and binding upon all persons for all purposes.

 

3.2 No Retention Rights.  Neither the establishment of the Plan nor the awarding of Restricted Stock to a Director shall be considered to give the Director the right to be retained on, or nominated for reelection to, the Board, or to any benefits or awards not specifically provided for by the Plan.

 

3.3 Interests Not Transferable.  Except as to withholding of any tax required under the laws of the United States or any state or locality, no benefit payable at any time under the Plan shall be subject in any manner to alienation, sale, transfer, assignment, pledge, attachment, or other legal process, or encumbrance of any kind.  Any attempt to alienate, sell, transfer, assign, pledge, attach or otherwise encumber any such benefits whether currently or thereafter payable, shall be void.  No benefit shall, in any manner, be liable for or subject to the debts or liabilities of any person entitled to such benefits.  If any person shall attempt to, or shall alienate, sell, transfer, assign, pledge or otherwise encumber such person’s benefits under the Plan, or if by reason of such person’s bankruptcy or any other event, such benefits would devolve upon any other person or would not be enjoyed by the person entitled thereto under the Plan, then the Committee, in its discretion, may terminate the interest in any such benefits of the person entitled thereto under the Plan and hold or apply them to or for the benefit of such person entitled thereto under the Plan or such person’s spouse, children or other dependents, or any of them, in such manner as the Committee may deem proper.

 

4

 

3.4 Amendment and Termination.  The Board may at any time amend or terminate the Plan; provided that:
 
(a) no amendment or termination shall, without the written consent of a Director, adversely affect the Director’s rights under outstanding awards of Restricted Stock; and
 
(b) Stockholder approval of any amendment shall be required if Stockholder approval is required under applicable law or the listing requirements of any national securities exchange on which are listed any of the Corporation’s equity securities.
 

3.5 Severability.  If all or any part of the Plan is declared by any court or
governmental authority to be unlawful or invalid, such unlawfulness or
invalidity shall not serve to invalidate any portion of the Plan not declared
to be unlawful or invalid.  Any Section
or part thereof so declared to be unlawful or invalid shall, if possible, be
construed in a manner which will give effect to the terms of such Section or
part thereof to the fullest extent possible while remaining lawful and valid.

 

3.6 Controlling Law.  The law of Delaware, except its law with respect to choice of law, shall be controlling in all matters relating to the Plan.

 

5

 

APPENDIX A

TO ALLIANT TECHSYSTEMS INC.

AMENDED AND RESTATED NON-EMPLOYEE DIRECTOR

RESTRICTED STOCK PLAN

 

RESTRICTED STOCK DEFERRALS

 

Section 1.                                            Purpose
and Effect.

 

(a)                                  This
Appendix A to the Alliant Techsystems Inc. Amended and Restated Non-Employee
Director Restricted Stock Plan (the “Plan”) authorizes the deferral of income
that would otherwise be recognized upon the lapse of restrictions applicable to
Restricted Stock awards under the Plan.

 

(b)                                 In
accordance with the rules set forth in this Appendix A, Directors may elect to
forfeit shares of Restricted Stock that would otherwise vest pursuant to the
terms of the Plan and the relevant Restricted Stock award in exchange for the
Corporation’s agreement to pay deferred compensation in the form of
unrestricted shares of Stock (“Restricted Stock Deferral”).  The Restricted Stock awards that may be
subject to deferral elections authorized by this Appendix A are limited solely
to those made under the Plan.

 

(c)                                  No
Restricted Stock or other shares of Stock are authorized to be issued under
this Appendix A other than pursuant to Section 5(c) of this
Appendix A.  Grants and vesting of
Restricted Stock awards are governed by the Plan, as it may be amended from
time to time.

 

Section 2.                                            Definitions.  For purposes of this Appendix A, the terms
defined in the Plan shall have the same meanings when used in this Appendix
A.  In addition, the terms listed below
shall have the following meanings:

 

(a)                                  Deferred
Stock Unit Account shall mean the account established for each Director in
accordance with Section 5 of this Appendix A.

 

(b)                                 Stock
Unit shall mean each one of the units credited to a Director’s Deferred
Stock Unit Account based on the number of shares of Restricted Stock forfeited
pursuant to Section 4 of this Appendix A or shares of Stock credited to
the Deferred Stock Unit Account pursuant to Section 5(c) of this
Appendix A.

 

Section 3.                                            Eligibility.  A person shall be eligible to make deferrals
pursuant to this Appendix A if he or she is a non-employee member of the Board
of Directors of the Corporation who participates in the Plan.  A person who ceases to be a non-employee
member of the Board of the Corporation shall not be eligible to make deferrals
pursuant to this Appendix A.

 

Section 4.                                            Restricted
Stock Deferral.

 

(a)                                  At
least 12 complete months prior to the date on which the Restricted Period would
otherwise end pursuant to Section 2.4 of the Plan (the “Vesting Date”)
with respect to 

 

 

Restricted Stock, a Director may elect, in accordance
with the procedures set forth in this Section 4 and elsewhere in this
Appendix A, to forfeit all of such shares of Restricted Stock and be
credited instead in the Director’s Deferred Stock Unit Account with a number of
Stock Units equal to the number of shares of Restricted Stock forfeited pursuant
to the deferral election.

 

(b)                                 A
deferral election made pursuant to this Section 4 shall be timely made in
writing in accordance with Section 7 of this Appendix A and shall
specify the time of payment in accordance with the rules for payment under Section
6 of this Appendix A.  Any deferral
election made pursuant to this Section 4 shall be irrevocable and shall apply
to 100%, but not less than 100%, of the shares of Restricted Stock with respect
to which the Restricted Period would otherwise end on the Vesting Date.

 

(c)                                  For
an election to defer Restricted Stock to be valid the deferral election form
must (i) be received by the Corporation (to the attention of the Corporate
Secretary) at least 12 complete months prior to the Vesting Date for such Restricted
Stock and (ii) provide for the forfeiture of the Restricted Stock which is the
subject of the deferral election and the transfer to and reacquisition by the
Corporation of such Restricted Stock as of the date of receipt by the
Corporation of the election to defer.

 

Section 5.                                            Deferred
Stock Unit Account.  A Deferred
Stock Unit Account shall be established and maintained on behalf of each
Director for Restricted Stock deferred pursuant to this Appendix A, subject to
the following rules:

 

(a)                                  For
each share of Restricted Stock deferred, a Stock Unit shall be credited to the
Director’s Deferred Stock Unit Account as of the Vesting Date of the Restricted
Stock subject to the deferral election.

 

(b)                                 On
each payment date for any cash dividends paid on the Corporation’s Stock, the
Corporation shall pay to each Director an amount equal to the cash dividends
that would be payable by the Corporation on a number of shares of Stock equal
to the number of Stock Units in the Director’s Deferred Stock Unit Account as
of such payment date.  Such amounts
shall be paid directly to each Director in cash and shall not be eligible for
deferral under this Plan.

 

(c)                                  The
number of units credited to the Director’s Deferred Stock Unit Account shall be
appropriately and equitably adjusted to reflect any change in the outstanding
Stock of the Corporation in the event of any recapitalization, reorganization,
merger, consolidation, spin-off, combination, repurchase, exchange of shares or
other securities of the Corporation, stock split, reverse stock split, stock
dividend, extraordinary dividend, liquidation, dissolution, or other similar
corporate transaction or event affecting the Corporation.

 

(d)                                 Directors
who elect to make a deferral of Restricted Stock in accordance with this Appendix
A will have no rights as Stockholders of the Corporation with respect to Stock
Units credited to their Deferred Stock Unit Accounts.

 

Section 6.                                            Payment
of Deferred Amounts.

 

(a)                                  Payment
of the aggregate value of 100% of the Stock Units in the Director’s Deferred
Stock Unit Account shall be made in a lump sum at the time specified by the
Director 

 

2

 

in his or her deferral election (the “Payment
Date”).  Notwithstanding the foregoing,
in all events payment of a Director’s entire Deferred Stock Unit Account shall
be made in a lump sum as soon as administratively feasible following the
occurrence of the earliest of the following events:

 

(i)                                     the
retirement of the Director from the Board in compliance with the Board’s
retirement policy as then in effect;

 

(ii)                                  the
termination of the Director’s service on the Board as a result of the
Director’s not being nominated for reelection by the Board, but not as a result
of the Director’s declining to serve again;

 

(iii)                               the
termination of the Director’s service on the Board because the Director,
although nominated for reelection by the Board, is not reelected by the
Stockholders;

 

(iv)                              the
termination of the Director’s service on the Board because of (A) the Director’s
resignation at the request of the Nominating Committee of the Board, (B) the
Director’s removal by action of the Stockholders, or (C) the sale, merger or
consolidation of, or a similar extraordinary transaction involving, the
Corporation; or

 

(v)                                 the
termination of the  Director’s service
on the Board because of disability or death.

 

The date of retirement or termination of service of a Director pursuant
to any of the events described in subsections (i) through (v) above shall
constitute the Payment Date for purposes of this Appendix A.

 

(b)                                 Payment
of the aggregate value of the Stock Units in a Director’s Deferred Stock Unit
Account shall be made solely in the form of shares of Stock.  On the Payment Date the Corporation shall
pay to the Director a number of shares of Stock equal to the number of Stock
Units in the Director’s Deferred Stock Unit Account on such Payment Date.

 

(c)                                  A
Director shall submit to the Corporation a written designation of the
beneficiary or beneficiaries to whom payment of the aggregate value of the
Director’s Deferred Stock Unit Account shall be made in the event of the
Director’s death.  Beneficiary
designations shall become effective only when received by the Corporation.  If a Director has not designated a
beneficiary, or if no beneficiary is living on the Payment Date, the Director’s
vested account shall be distributed to the representative of the Director’s
estate.  Payment to the Director’s
designated beneficiary shall be made in the form of Stock in accordance with
the provisions of Sections 6(a) and 6(b) of this Appendix.

 

Section 7.                                            Forms
and Procedure.  Deferral elections
and beneficiary designations made pursuant to this Appendix A must be made
in writing on forms substantially similar to the forms set forth in Exhibit I
to this Appendix A, and shall be subject to such other procedural rules as
the Committee may establish.

 

3

 

Section 8.                                            Effect
on Restricted Stock Awards. 
Deferral elections made pursuant to this Appendix A shall constitute
amendments to the Restricted Stock awards to which the deferral elections
apply, but only to the extent such Restricted Stock awards are expressly
modified by this Appendix A.  Any
shares of Stock paid to a Director pursuant to this Appendix A with respect to
a Director’s deferral election shall be issued under the Plan with respect to
the corresponding Restricted Stock award.

 

Section 9.                                            Unfunded
and Unsecured Plan.  The Director’s
Deferred Stock Unit Account shall be hypothetical in nature and shall be
maintained for bookkeeping purposes only. 
The Deferred Stock Unit Account shall be unfunded for tax purposes and
no provision shall be made at any time with respect to segregating assets of
the Corporation for payment of amounts in the Deferred Stock Unit Account.  The obligation of the Corporation to make
payments pursuant to this Appendix A constitutes an unsecured but legally
enforceable promise of the Corporation to make such payments.

 

Section 10.                                      Effective
Date.  This Appendix A shall be
effective as of the date adopted by the Board of Directors of the Corporation
and the deferral election provided herein shall be available only with respect
to awards of Restricted Stock made pursuant to the Plan on or after the
effective date hereof.

 

4

 

EXHIBIT
I TO APPENDIX A

NON-EMPLOYEE DIRECTOR RESTRICTED STOCK

DEFERRAL ELECTION FORM

AND DESIGNATION OF BENEFICIARY FORM

 

ALLIANT TECHSYSTEMS INC.

AMENDED AND RESTATED NON-EMPLOYEE
DIRECTOR

RESTRICTED STOCK PLAN

Amended and Restated as of May 4,
2004

 

ELECTION TO DEFER

 

TO:                          Alliant Techsystems Inc.

Attn: Corporate Secretary

 

Pursuant to the terms and
conditions of the Alliant Techsystems Inc. Amended and Restated Non-Employee
Director Restricted Stock Plan, Amended and Restated as of May 4, 2004
(the “Plan”), I hereby make the following election to defer with respect to
Restricted Stock awarded to me pursuant to the Plan.

 

All capitalized terms not
expressly defined in this election to defer have the meanings set forth in the
Plan.

 

1.                                      Deferral of Restricted Shares: I hereby irrevocably:

 

(a)
elect to defer 100% of my unvested Restricted Stock described below that, in
accordance with the provisions of the Plan, vests on the date set forth below;
and

 

(b)
forfeit any rights in and to the Restricted Stock that is the subject of this
election to defer and agree that such Restricted Stock shall be transferred to
and reacquired by the Corporation as of the date of receipt by the Corporation
of this election to defer.

 

Please complete:

 

Certificate Number 
                                 

 

Number of Shares 
                                   

 

Award Date of Shares
                             

 

Vesting Date 
                                             

 

 

As set forth in Section 4(a) of Appendix A to
the Plan,  “Vesting Date” means the date
on which the Restricted Period ends with respect to that Restricted Stock
pursuant to Section 2.4 of the Plan .

 

2.                                       Time of Payment:                                                 I hereby irrevocably elect to have my
Deferred Stock Unit Account paid out at the following time:

 

          as soon as administratively practicable
after I cease to be a Director of the Corporation; or

 

          at such other time as here specified
                                                                     .

 

I understand that all
payments of my Deferred Stock Unit Account will be made in the form of Stock of
the Corporation in accordance with the terms of the Plan.

 

This election to defer is made as of the date of my signature
below.  I understand and acknowledge
that to be effective this election to defer form must be fully and properly
completed and received by the Corporation at least 12 complete months prior to
the Vesting Date of the Restricted Stock to which this election applies.

 

I understand that the foregoing
elections are irrevocable and will apply to all of the Restricted Stock
described above.  This election to defer
constitutes an amendment to the Restricted Stock award to which this election
applies, but only to the extent that the award of Restricted Stock is expressly
modified by the election.

 

I certify that the foregoing
elections are not being made in reliance upon any financial or tax advice given
by the Corporation.  I understand that I
should consult my own tax advisor as to the tax consequences of my elections.

 

 

	
  Date:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (Signature
  of Non-Employee Director)

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
						

 

 

Received
by the Corporation:

 

Alliant
Techsystems Inc.

 

	
  Date: 

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Acknowledged:

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name and Title

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Office of Corporate Secretary

  	
   

  	
   

  	
   

  	
   

  
								

 

2

 

AMENDED AND RESTATED NON-EMPLOYEE
DIRECTOR

RESTRICTED STOCK PLAN

Amended and Restated as of May 4,
2004

 

DESIGNATION OF BENEFICIARY

(Please type or print)

 

	
  Name of Director

  	
  Marital
  Status:  Single

  	
   

  
	
  Social Security No.

  	
  Married

  	
   

  

 

I hereby revoke
any previous designation(s) of beneficiary made by me with respect to amounts
payable by Alliant Techsystems Inc. (the “Corporation”) under the Corporation’s
Non-Employee Director Restricted Stock Plan in the event of my death; and I
hereby designate the following person(s) or entity to receive, upon my death,
any such amounts:

 

Primary
Beneficiary or Beneficiaries (if you are married and you
designate a Primary Beneficiary other than your spouse, your spouse must sign
the Consent below):

 

	
  Name:

  	
  Share:

  	
  %

  	
  Relationship:

  	
  Birth Date:

  
	
  Address:

  	
   

  	
   

  	
   

  	
  SS #

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
  Share:

  	
  %

  	
  Relationship:

  	
  Birth Date:

  
	
  Address:

  	
   

  	
   

  	
   

  	
  SS #

  	
   

  

 

Contingent
Beneficiary or Beneficiaries (if your Primary
Beneficiary(ies) all predecease you):

 

	
  Name:

  	
  Share:

  	
  %

  	
  Relationship:

  	
  Birth Date:

  
	
  Address:

  	
   

  	
   

  	
   

  	
  SS #

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
  Share:

  	
  %

  	
  Relationship:

  	
  Birth Date:

  
	
  Address:

  	
   

  	
   

  	
   

  	
  SS #

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  	
  Director’s Signature:

  	
   

  	
   

  
									

 

Spouse’s
Consent:  I hereby
consent to the designation by my spouse of the above Primary Beneficiary(ies)
(and Contingent Beneficiary(ies) if my spouse lives in a community property
state).  By so doing, I also acknowledge
that I understand that:  (1) the effect
of such designation is that I will not receive what otherwise may have been
paid to me (or my estate); (2) such designation is not valid unless I consent
to it; (3) my consent is irrevocable unless my spouse changes such designation;
and (4) my consent is given knowingly and voluntarily and not as a result of
coercion, undue influence or duress.

 

	
  Date:

  	
   

  	
   

  	
  Spouse’s Signature:

  	
   

  	
   

  

Witness (other than spouse):

Address of witness:

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