Document:

Filed by Bowne Pure Compliance

Exhibit 10.1

RESTRICTED STOCK UNIT AWARD AGREEMENT

THIS AGREEMENT CONSTITUTES PART OF THE PROSPECTUS COVERING SECURITIES REGISTERED UNDER THE
SECURITIES ACT OF 1933.

THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (hereinafter, the “Agreement”) made as of the

 _____ 
day of
 _____,
 _____, between Goodrich Corporation, a New York corporation (the
“Company”), and
 _____ 
(the “Employee”). For purposes of this Agreement, all capitalized
terms not defined herein shall have the meanings ascribed thereto under the terms of the Goodrich
Corporation 2001 Equity Compensation Plan (as amended, the “Plan”), unless otherwise noted.

WHEREAS, the Employee is employed by the Company or its subsidiaries; and

WHEREAS, the Company wishes to grant an award of restricted stock units under the Plan,
subject to the conditions and restrictions set forth in the Plan and this Agreement.

NOW THEREFORE, in consideration of the mutual covenants contained in this agreement, the
Company and the Employee agree as follows:

	1.	 	Grant of Units. The Company hereby grants to the Employee
 _____ 
restricted stock
units (the “Units”). Each Unit held by the Employee shall entitle the Employee to receive (i)
one share of common stock, par value $5.00 per share, of the Company (“Common Stock”) upon the
vesting date of such Units or other transfer date of the shares of Common Stock represented by
such Units (as described below) and (ii) periodic cash payments from the Company equal in
value to any dividend declared and paid on a share of Common Stock (“dividend equivalents”).
Prior to the vesting date of a Unit or other transfer date of the shares of Common Stock
represented by a Unit, the Employee shall have no ownership interest in the Common Stock
represented by such Unit and the Employee shall have no right to vote or exercise proxies with
respect to the Common Stock represented by such Unit. No stock certificates will be issued as
of the date of this Agreement (the “Effective Date”) and the Units shall be subject to
forfeiture and other restrictions as set forth below. If during the first year from the
Effective Date the Employee notifies the Company of the Employee’s intent to terminate
employment with the Company during such first year and the Employee shall be eligible for
retirement as of such date of termination, then the number of Units shall be reduced, as of
the date immediately preceding such date of termination, by multiplying such number by a
fraction, the numerator of which shall be the number of months (rounded upward to the nearest
month) of employment that the Employee has completed with the Company between the Grant Date
and the date of termination and the denominator shall be 12. For the purpose of this Section
1, the Employee shall be treated as being eligible for retirement if the Employee terminates
employment with the Company at any time after the Employee is eligible for early retirement as
provided under the terms of the Goodrich Corporation Employees’ Pension Plan (or would be
eligible for early retirement under
such plan if the Employee was a participant in such plan or as provided in a subsidiary
company’s salaried pension plan in the event the Employee’s pension benefits are received
solely from the subsidiary’s plan) in effect at the time of such termination.

 

 

 

	2.	 	Vesting and Distribution.

(a) General Rule. Except as otherwise provided in Section 2(b) or 2(c), the Units will be
deemed vested upon the Employee’s continued employment with the Company or one of the
Company’s subsidiaries on the dates set forth in the following schedule:

Three (3) years from the Effective Date — 50% of the Units

Four (4) years from the Effective Date — 75 % of the Units

Five (5) years from the Effective Date — 100% of the Units

Upon vesting, and in any event, on or before March 15 of the year immediately following
the year in which vesting occurred, the Company shall either transfer physical possession of
a stock certificate or certificates for shares of Common Stock in an amount equal to the
number of Units then becoming vested to the Employee or provide for book entry transfer of
such shares to the Employee, subject to Sections 6 and 7 below.

(b) Early Retirement Eligibility. Notwithstanding the provisions of Section 2(a), above, to
the contrary, in the event the Employee becomes eligible for Early Retirement, as defined in
the Goodrich Corporation Employees’ Pension Plan (or would be eligible for Early Retirement
under such plan if the Employee was a participant in such plan or as defined in a
subsidiary company’s salaried pension plan in the event the Employee’s pension benefits are
received solely from the subsidiary’s plan), the Employee will be deemed to be fully vested
in the Units as of the date the Employee is first eligible for Early Retirement. As of such
date, the vesting and transfer dates set forth in Section 2(a) shall no longer apply and,
instead the following transfer schedule shall apply while the Employee remains continuously
employed with the Company or one of the Company’s subsidiaries:

Three (3) years from the Effective Date — 50% of the Units

Four (4) years from the Effective Date — 75% of the Units

Five (5) years from the Effective Date — 100% of the Units

To the extent the Employee has not previously received a transfer of the applicable
percentage of the shares of Common Stock represented by the Units pursuant to Section 2(a),
above, the Employee will then receive a transfer from the Company of the applicable
percentage on or before March 15 of the year immediately following the year in which the
applicable anniversary date of the Effective Date occurs, with the Company either
transferring physical possession of a stock certificate or certificates for shares of Common
Stock in an amount equal to the number of shares of Common Stock represented by the Units
then becoming transferable pursuant to the above schedule to the
Employee or providing for book entry transfer of such shares to the Employee, subject to
Sections 6 and 7 below.

 

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Notwithstanding the above to the contrary, in the event the Employee incurs a
separation from service prior to the complete transfer of shares of Common Stock represented
by the Units, the remaining shares that have not yet been transferred shall be transferred
to the Employee six (6) months following the Employee’s separation of service; provided, if
the Employee directly, indirectly, or otherwise, owns, manages, operates, controls, serves
as a consultant to, becomes employed by, participates in, or becomes connected, in any
manner, with the ownership, management, operation or control of any business that competes
with the Company or any of its affiliates, as determined by the Committee in its sole
discretion, after the Employee’s date of separation from service and prior to the transfer
of shares of Common Stock represented by the Units, the Committee may, in its sole
discretion, cancel the Units granted under this Agreement for which shares of Common Stock
have not yet been transferred.

(c) Normal Retirement Eligibility. Notwithstanding the provisions of Section 2(a) or 2(b),
above, to the contrary, in the event the Employee becomes eligible for Normal Retirement, as
defined in the Goodrich Corporation Employees’ Pension Plan (or would be eligible for Normal
Retirement under such plan if the Employee was a participant in such plan or as defined in
a subsidiary company’s salaried pension plan in the event the Employee’s pension benefits
are received solely from the subsidiary’s plan), the Employee will be deemed to be fully
vested in the Units as of the date the Employee is first eligible for Normal Retirement. As
of such date, the vesting and transfer dates set forth in Sections 2(a) and 2(b) shall no
longer apply and, instead the following transfer schedule shall apply while the Employee
remains continuously employed with the Company or one of the Company’s subsidiaries:

Three (3) years from the Effective Date — 50% of the Units

Four (4) years from the Effective Date — 75% of the Units

Five (5) years from the Effective Date — 100% of the Units

To the extent Employee has not previously received a transfer of the applicable
percentage of the shares of Common Stock represented by the Units pursuant to Section 2(a)
or 2(b), above, the Employee will then receive a transfer from the Company of the applicable
percentage on or before March 15 of the year immediately following the year in which the
applicable anniversary date of the Effective Date occurs, with the Company either
transferring physical possession of a stock certificate or certificates for shares of Common
Stock in an amount equal to the number of shares of Common Stock represented by the Units
then becoming transferable pursuant to the above schedule to the Employee or providing for
book entry transfer of such shares to the Employee, subject to Sections 6 and 7 below.

 

3

 

Notwithstanding the above to the contrary, in the event the Employee incurs a
separation from service prior to the complete transfer of shares of Common Stock
represented by the Units, the remaining shares that have not yet been transferred shall be
transferred to the Employee within ninety (90) days of the Employee’s separation of service.
In addition, and notwithstanding the above to the contrary, if an Employee is a “specified
employee” (as such term is defined in Section 409A(a)(2)(B)(i) of the Internal Revenue Code
of 1986, as amended and the Plan is subject to Section 409A, and the transfer of such shares
is to occur after the date of the Employee’s separation from service, the transfer of such
 shares or the book entry transfer of such shares may not be made before the date which is
six (6) months after the date of separation from service (or, if earlier, the date of the
Employee’s death).

	3.	 	Vesting of Units
Post-Employment.

(a) In the event of the Employee’s death, all unvested Units shall vest immediately to the
Employee’s beneficiary, as defined in Section 5, upon the Employee’s death. In the event of
the Employee’s permanent and total disability, all unvested Units shall vest immediately
upon such permanent and total disability.

(b) Anything to the contrary notwithstanding, in the event of a Change in Control of the
Company subsequent to this date, all Units shall immediately vest.

(c) Notwithstanding any provisions of this Agreement to the contrary, if the Employee’s
employment with the Company or any of its subsidiaries is terminated for Cause, as defined
herein, the Committee may, in its sole discretion, immediately cancel the Units granted
under this Agreement that have not yet become vested as of any date prior to the date of
such termination. For the purpose of this Agreement, “Cause” shall mean a termination of
employment by the Company due to (i) the violation by the Employee of any rule, regulation,
or policy of the Company, including the Company’s Business Code of Conduct; (ii) the failure
by the Employee to meet any requirement reasonably imposed upon such employee by the Company
as a condition of continued employment; (iii) the violation by the Employee of any federal,
state or local law or regulation; (iv) the commission by the Employee of an act of fraud,
theft, misappropriation of funds, dishonesty, bad faith or disloyalty; (v) the failure by
the Employee to perform consistently the duties of the position held by such employee in a
manner which satisfies the expectations of the Company after such Employee has been provided
written notice of performance deficiencies and a reasonable opportunity to correct those
deficiencies; or (vi) the dereliction or neglect by the Employee in the performance of such
employee’s job duties.

(d) Except as otherwise provided in Section 2(b) or 2(c), above, upon vesting, and in any
event, on or before March 15 of the year immediately following the year in which vesting
occurred, the Company shall either transfer physical possession of a stock certificate or
certificates for shares of Common Stock in an amount equal to the number of Units then
becoming vested to the Employee (or, if the Employee is deceased, the Employee’s
beneficiary, as defined in Section 5) or provide for book entry transfer of such shares to
the Employee (or, if the Employee is deceased, the Employee’s beneficiary), subject to
Sections 6 and 7 below.

 

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	4.	 	Forfeiture. Except as specifically provided in Section 3, if the Employee’s
employment is terminated prior to any of the vesting dates set forth in Section 2 above, all
of the unvested Units will be forfeited. In the event of such forfeiture, all rights to
receive shares of Common Stock or dividend equivalents or any other ancillary rights shall
cease and terminate immediately.

	5.	 	Assignability/Beneficiary. The rights of the Employee contingent or otherwise in the
Units or dividend equivalents cannot and shall not be sold, assigned, pledged or otherwise
transferred or encumbered other than by will or by the laws of descent and distribution. The
Employee may designate a beneficiary or beneficiaries to receive any benefits that are due
under Section 3 following the Employee’s death. To be effective, such designation must be
made in accordance with such rules and on such form as prescribed by the Company’s corporate
compensation group for such purpose which completed form must be received by the Company’s
corporate compensation group or its designee before the Employee’s death. If the Employee
fails to designate a beneficiary, or if no designated beneficiary survives the Employee’s
death, the Employee’s estate shall be deemed the Employee’s beneficiary.

	6.	 	Tax Withholding. At the time shares of common stock are transferred to the Employee,
the number of shares delivered will be net of the amount of shares sufficient to satisfy any
federal, state and local tax withholding requirements with which the Company must comply.

	7.	 	Changes in Capital Structure. The number of shares of Common Stock to be transferred
to the Employee upon the vesting of any Units will be adjusted appropriately in the event of
any stock split, stock dividend, combination of shares, merger, consolidation, reorganization,
or other change in the nature of the shares of Common Stock in the same manner in which other
outstanding shares of Common Stock not subject to the Plan are adjusted; provided, that the
number of shares subject to this Agreement shall always be a whole number.

	8.	 	Continued Employment. Nothing contained herein shall be construed as conferring upon
the Employee the right to continue in the employ of the Company or any of its subsidiaries as
an executive or in any other capacity.

	9.	 	Parties to Agreement. This Agreement and the terms and conditions herein set forth
are subject in all respects to the terms and conditions of the Plan, which are controlling.
All decisions or interpretations of the Board and of the Committee shall be binding and
conclusive upon Employee or upon Employee’s executors or administrators or beneficiaries upon
any question arising hereunder or under the Plan. This Agreement will constitute an agreement
between the company and the Employee as of the date first
above written, which shall bind and inure to the benefit of their respective executors,
administrators, beneficiaries, successors and assigns.

 

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	10.	 	Modification. No change, termination, waiver or modification of this Agreement will
be valid unless in writing and signed by all of the parties to this Agreement.

	11.	 	Consent to Jurisdiction. The Employee hereby consents to the jurisdiction of any
state or federal court located in the county in which the principal executive office of the
Company is then located for purposes of the enforcement of this Agreement and waives personal
service of any and all process upon the Employee. The Employee waives any objection to venue
of any action instituted under this Agreement.

	12.	 	Notices. All notices, designations, consents, offers or any other communications
provided for in this Agreement must be given in writing, personally delivered, or by facsimile
transmission with an appropriate written confirmation of receipt, by nationally recognized
overnight courier or by U.S. mail. Notice to the Company is to be addressed to its then
principal office. Notice to the Employee or any transferee is to be addressed to his/her/its
respective address as it appears in the records of the Company, or to such other address as
may be designated by the receiving party by notice in writing to the Secretary of the Company.

	13.	 	Further Assurances. At any time, and from time to time after executing this
Agreement, the Employee will execute such additional instruments and take such actions as may
be reasonably requested by the Company to confirm or perfect or otherwise to carry out the
intent and purpose of this Agreement.

	14.	 	Provisions Severable. If any provision of this Agreement is invalid or
unenforceable, it shall not affect the other provisions, and this Agreement shall remain in
effect as though the invalid or unenforceable provisions were omitted. Upon a determination
that any term or other provision is invalid or unenforceable, the Company shall in good faith
modify this Agreement so as to effect the original intent of the parties as closely as
possible.

	15.	 	Captions. Captions herein are for convenience of reference only and shall not be
considered in construing this Agreement.

	16.	 	Entire Agreement. This Agreement represents the parties’ entire understanding and
agreement with respect to the issuance of the Units, and each of the parties acknowledges that
it has not made any, and makes no promises, representations or undertakings, other than those
expressly set forth or referred to therein.

	17.	 	Governing Law. This Agreement is subject to the condition that this award will
conform with any applicable provisions of any state or federal law or regulation in force
either at the time of grant. The Committee and the Board reserve the right pursuant to the
condition mentioned in this paragraph to terminate all or a portion of this Agreement if in
the opinion of the Committee and Board, this Agreement does not conform with any such
applicable state or federal law or regulation and such nonconformance shall cause material
harm to the Company.

This Agreement shall be construed in accordance with and governed by the laws of the State
of New York.

 

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	18.	 	409A Compliance. Notwithstanding any other provisions of the Agreement herein to the
contrary and, to the extent applicable, the Agreement shall be interpreted, construed and
administered (including with respect to any amendment, modification or termination of the
Plan) in such manner so as to comply with the provisions of Section 409A of the of the
Internal Revenue Code of 1986, as amended Code and any related Internal Revenue Service
guidance promulgated thereunder.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the first day
hereabove first written.

	 	 	 	 	 	 	 
	 	 	GOODRICH CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Vice President
	 	 

	 	 	 
	Accepted by:
	 	 
	 
	 	 
	 

(Employee’s name)

	 	 

 

7Filed by Bowne Pure Compliance

Exhibit 10.2

GOODRICH CORPORATION

SAVINGS BENEFIT RESTORATION PLAN

As Amended and Restated Generally Effective January 1, 2005

INTRODUCTION

The purpose of this Plan is to provide supplemental savings plan benefits to certain employees who
are or were participants in the Goodrich Corporation Employees’ Savings Plan. The supplemental
savings plan benefits provided by this Plan are intended to provide covered employees with savings
plan benefits that, in the aggregate, will be equal to the savings plan benefits the employees
would receive under the Goodrich Corporation Employees’ Savings Plan if such plan was not subject
to certain Internal Revenue Code limitations applicable to qualified retirement plan benefits.

This Plan, currently known as the Goodrich Corporation Savings Benefit Restoration Plan, is hereby
amended and restated generally effective January 1, 2005 as set forth herein to reflect, among
other things, the requirements of the American Jobs Creation Act of 2004. This restatement of the
Plan reflects all prior amendments to the Plan and also reflects the fact that the provisions of
the Goodrich Corporation Pension Benefit Restoration Plan are contained in a separate document.

ARTICLE I. DEFINITIONS

	 	1.1	 	“Affiliate” means a corporation which is a member of a controlled group of
corporations, as such term is defined in Code Section 1563(a), which includes the
Company, or is a corporation, partnership, sole proprietorship, affiliated service
group, or other business entity that is under common control with the Company (as
determined in accordance with the definition of such terms contained in Code Section
414(b), (c), (m) or (o)), but with respect only to periods of time during which such
controlled group status or common control status exists.

	 	1.2	 	“Base Salary” means the annual base salary earned by the Eligible Employee for
the Plan Year. Base Salary shall not include Incentive Compensation.

	 	1.3	 	“Beneficiary” means the person or persons designated, on a form prescribed by
the Company, by an Eligible Employee to be his or her Beneficiary to whom payment under
the Plan shall be made in the event of the Eligible Employee’s death. If an Eligible
Employee fails to designate a Beneficiary as provided above, or if the Beneficiary
designation is revoked without execution of a new designation, or if every person
designated as Beneficiary predeceases the Eligible Employee or dies prior to complete
distribution of the Eligible Employee’s benefits, then the Committee shall direct the
distribution of such benefits to the Eligible Employee’s estate.

 

 

 

	 	1.4	 	“Book Account” means the account for each Eligible Employee established on the
books of the Company. To the extent relevant with respect to an Eligible Employee, the
Eligible Employee’s overall Book Account shall include the Eligible Employee’s
Post-2004 Subaccount and Pre-2005 Subaccount.

	 	1.5	 	“Change in Control” means a change in control of the Company, as defined in the
Goodrich Corporation Management Continuity Agreement, as it may be amended from time to
time.

Effective for Plan Years beginning after December 31, 2004, a Change in Control
means:

	 	(a)	 	The acquisition by any individual, entity or group (within the
meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”)), of beneficial ownership (within the meaning
of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (1)
the then outstanding shares of common stock of the Company (the “Outstanding
Company Common Stock”) or (2) the combined voting power of the then outstanding
voting securities of the Company entitled to vote generally in the election of
directors (the “Outstanding Company Voting Securities”); provided, however,
that the following acquisitions shall not constitute a Change in Control: (1)
any acquisition directly from the Company (other than by exercise of a
conversion privilege), (2) any acquisition by the Company or any of its
subsidiaries, (3) any acquisition by any employee benefit plan (or related
trust) sponsored or maintained by the Company or any of its subsidiaries or (4)
any acquisition by any company with respect to which, following such
acquisition, more than 70% of, respectively, the then outstanding shares of
common stock of such company and the combined voting power of the then
outstanding voting securities of such company entitled to vote generally in the
election of directors is then beneficially owned, directly or indirectly, by
all or substantially all of the individuals and entities who were the
beneficial owners, respectively, of the Outstanding Company Common Stock and
Outstanding Company Voting Securities immediately prior to such acquisition in
substantially the same proportions as their ownership, solely in their capacity
as shareholders of the Company, immediately prior to such acquisition, of the
Outstanding Company Common Stock and Outstanding Company Voting Securities, as
the case may be; or

	 	(b)	 	Individuals who, as of the effective date of the amended and
restated Plan, constitute the Board (the “Incumbent Board”) cease for any
reason to constitute at least a majority of the Board; provided, however, that
any individual becoming a director subsequent to the beginning of such period
whose election, or nomination for election by the Company’s shareholders, was
approved by a vote of at least a majority of the directors then comprising the
Incumbent Board shall be considered as though such
individual were a member of the Incumbent Board, but excluding, for this
purpose, any such individual whose initial assumption of office occurs as a
result of either an actual or threatened election contest (as such terms is
used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act);
or

 

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	 	(c)	 	Consummation of a reorganization, merger or consolidation, in
each case, with respect to which all or substantially all of the individuals
and entities who were the beneficial owners, respectively, of the Outstanding
Company Common Stock and Outstanding Company Voting Securities immediately
prior to such reorganization, merger or consolidation, do not, following such
reorganization, merger or consolidation, beneficially own, directly or
indirectly, solely in their capacity as shareholders of the Company, more than
70% of, respectively, the then outstanding shares of common stock and the
combined voting power of the then outstanding voting securities entitled to
vote generally in the election of directors, as the case may be, of the company
resulting from such reorganization, merger or consolidation in substantially
the same proportions as their ownership, immediately prior to such
reorganization, merger or consolidation of the Outstanding Company Common Stock
and Outstanding Company Voting Securities, as the case may be; or

	 	(d)	 	Consummation of (1) a complete liquidation or dissolution of
the Company or (2) a sale or other disposition of all or substantially all of
the assets of the Company, other than to a company, with respect to which
following such sale or other disposition, more than 70% of, respectively, the
then outstanding shares of common stock of such company and the combined voting
power of the then outstanding voting securities of such company entitled to
vote generally in the election of directors is then beneficially owned,
directly or indirectly, by all or substantially all of the individuals and
entities, solely in their capacity as shareholders of the Company, who were
the beneficial owners, respectively, of the Outstanding Company Common Stock
and Outstanding Company Voting Securities immediately prior to such sale or
other disposition in substantially the same proportion as their ownership,
immediately prior to such sale or other disposition, of the Outstanding Company
Common Stock and Outstanding Company Voting Securities, as the case may be.

	 	1.6	 	“Code” means the Internal Revenue Code of 1986. References to any Section of
the Code shall be deemed to refer to such Section as it currently exists or as it may
be amended from time to time and shall be read to refer also to any Treasury
Regulations promulgated under such Section.

	 	1.7	 	“Committee” means the Goodrich Corporation Benefit Design and Administration
Committee, or any designated group with similar responsibilities.

 

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	 	1.8	 	“Compensation” means an Eligible Employee’s compensation from the Company and
its Affiliates for any Plan Year. Compensation shall include Base Salary and Incentive
Compensation.

	 	1.9	 	“Company” means Goodrich Corporation.

	 	1.10	 	“Eligible Employee” means an individual (a) who is or was an employee of the
Company or any Affiliate, (b) who is or was a participant in the Goodrich Savings Plan,
and (c) who is or has been designated as an Eligible Employee by the Committee.

	 	1.11	 	“Goodrich Savings Plan” means the Goodrich Corporation Employees’ Savings Plan,
as it may be amended from time to time, and its predecessors and successors.

	 	1.12	 	“Incentive Compensation” means incentive compensation paid to an Eligible
Employee by the Company and its Affiliates for a Plan Year based on an Eligible
Employee’s performance. For Plan Years beginning after December 31, 2004, Incentive
Compensation means performance based compensation (as defined in Code Section 409A)
paid to an Eligible Employee by the Company and its Affiliates for a Plan Year.

	 	1.13	 	“IRS Limits” means the limitations on qualified retirement plan benefits
contained in the Code, including Code Sections 401(a)(17), 401(k), 402(g), and 415, as
amended from time to time. The Committee, in its sole discretion may authorize the
inclusion of additional Code Sections for purposes of this Plan.

	 	1.14	 	“Key Executive” means an Eligible Employee who entered into an individual
deferred compensation agreement with the Company and who was given the opportunity to
transfer the entire amount deferred to this Plan.

	 	1.15	 	“Make-Up Contributions” means the amounts credited to an Eligible Employee’s
Book Account pursuant to Section 2.5.

	 	1.16	 	“Plan” means this Goodrich Corporation Savings Benefit Restoration Plan, as in
effect at any time.

1.17 “Plan Year” means the calendar year.

	 	1.18	 	“Post-2004 Subaccount” means the subaccount kept as part of a Book Account to
record the crediting of the deferral of an Eligible Employee’s Compensation and the
crediting of Make-Up Contributions after December 31, 2004, together with any earnings
or losses thereon through the date of distribution from the Plan.

	 	1.19	 	“Pre-2005 Subaccount” means the subaccount kept as part of a Book Account to
record the crediting of the deferral of an Eligible Employee’s Compensation and the
crediting of Make-Up Contributions prior to January 1, 2005, together with any earnings
or losses thereon through the date of distribution from the Plan.

 

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	 	1.20	 	“Salary Reduction Agreement” means an agreement, on a form prescribed by the
Company, between an Eligible Employee and the Company to reduce the Eligible Employee’s
Compensation and to credit the amount reduced to either the Eligible Employee’s
Pre-2005 Subaccount or Post-2004 Subaccount, as applicable, under this Plan. For Plan
Years beginning on or after January 1, 2006, Salary Reduction Agreement means, on a
form prescribed by the Company, an agreement between an Eligible Employee and the
Company to reduce the Eligible Employee’s Base Salary or Incentive Compensation and to
credit the amount reduced to the Eligible Employee’s Post-2004 Subaccount under this
Plan.

	 	1.21	 	“Specified Employee” means an employee of the Company or an Affiliate who is a
“specified employee” as defined in Code Section 409A(a)(2)(B)(i) .

	 	1.22	 	“Termination Date” means the date on which an Eligible Employee terminates
employment or incurs a separation from service with the Company and its Affiliates, or
if earlier, the date an Eligible Employee begins receiving
long-term disability
benefits under a long-term disability plan sponsored by the Company. For Plan Years
beginning after December 31, 2004, separation from service means the termination of
employment with the Company and its Affiliates as defined in Code Section 409A.

	 	1.23	 	“Vesting Service” means vesting service as defined in the Goodrich Savings
Plan.

ARTICLE II. PARTICIPATION AND PLAN CONTRIBUTIONS

	 	2.1	 	An employee shall commence participation in the Plan effective as of the
January 1 next following the date the employee becomes an Eligible Employee.

Notwithstanding the preceding paragraph, the Committee, in its sole discretion, may
permit an employee who first becomes an Eligible Employee after December 31, 2004,
to elect to become a participant no later than 30 days after becoming an Eligible
Employee by executing a Salary Reduction Agreement to defer Compensation for
services to be performed subsequent to the election.

	 	2.2	 	An Eligible Employee may elect to reduce his or her Compensation, Base Salary,
or Incentive Compensation, as applicable, and have the Company credit the amount
reduced to either the Eligible Employee’s Pre-2005 Subaccount or Post-2004 Subaccount,
as applicable, under this Plan. Prior to the beginning of each Plan Year, each
Eligible Employee who wishes to participate in the Plan for the following Plan Year
shall execute an irrevocable Salary Reduction Agreement. Salary Reduction Agreements
shall remain in effect for the entire subsequent Plan Year and may not be modified or
revoked by the Eligible Employee during such Plan Year. If an Eligible Employee who is
contributing to this Plan does not submit a new Salary Reduction Agreement prior to the
beginning of a subsequent Plan Year, the Eligible Employee’s prior Plan Year election
shall remain in force and be fully applicable to the subsequent Plan Year.

 

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	 	2.3	 	For Plan Years beginning on or after January 1, 2006, an Eligible Employee
shall execute a separate Salary Reduction Agreement to defer a portion of his or her
Incentive Compensation. The Salary Reduction Agreement shall become effective with
respect to the annual Incentive Compensation that may be awarded to the Eligible
Employee with respect to a Plan Year if the Eligible Employee’s Salary Reduction
Agreement is received by the Company at least six months prior to the end of the
performance period (Plan Year) for the Incentive Compensation, or by such earlier date
as the Company may establish. An Eligible Employee’s Salary Reduction Agreement to
elect to defer Incentive Compensation shall be effective for the Plan Year to which the
election relates If an Eligible Employee who is contributing to this Plan does not
submit a new Salary Reduction Agreement prior to the beginning of a subsequent Plan
Year, the Eligible Employee’s prior Plan Year election shall remain in force and be
fully applicable to the subsequent Plan Year.

	 	2.4	 	Each Salary Reduction Agreement shall specify the percentage of the Eligible
Employee’s Compensation to be credited to the Plan in 1% increments. The maximum
amount of Compensation that an Eligible Employee may have credited to the Plan for any
Plan Year shall be 25% of the Eligible Employee’s Compensation for the Plan Year.

	 	2.5	 	Either the Pre-2005 Subaccount or the Post-2004 Subaccount, as applicable, of
each Eligible Employee shall be credited each year with a Make-Up Contribution equal to
(a) the amount that the Company or an Affiliate would have contributed to the Goodrich
Savings Plan on behalf of the Eligible Employee for the Plan Year if the Goodrich
Savings Plan did not contain IRS Limits, and if the Compensation credited to either the
Eligible Employee’s Pre-2005 Subaccount or Post-2004 Subaccount, as applicable, under
this Plan had been contributed to the Goodrich Savings Plan, reduced by (b) the maximum
amount the Company or an Affiliate could have contributed to the account of the
Eligible Employee under the Goodrich Savings Plan for the Plan Year (other than amounts
contributed pursuant to an Eligible Employee’s election to defer Compensation into the
Goodrich Savings Plan).

An Eligible Employee at all times shall be fully vested in the portion of his or her
Book Account which consists of Compensation deferrals and Make-Up Contributions
attributable to employer matching contributions. On or after January 1, 2006, an
Eligible Employee’s Book Account which consists of Make-Up Contributions
attributable to employer discretionary contributions, if any, shall be fully vested
after such Eligible Employee has completed three years of Vesting Service.

Any portion of an Eligible Employee’s Book Account attributable to Make-Up
Contributions that is not vested upon the Eligible Employee’s Termination Date shall
be forfeited and applied to offset future Make-Up Contributions as directed by the
Company.

 

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	 	2.6	 	Amounts credited to the Book Account of an Eligible Employee pursuant to this
Article II and amounts deferred by a Key Executives pursuant to an individual deferred
compensation agreement shall be credited to the Book Account maintained by the Company
for the benefit of the Eligible Employee and/or Key Executive. All amounts credited to
the Book Account of an Eligible Employee shall be credited for accounting purposes only
and shall remain as part of the general assets of the Company subject to the claims of
the Company’s general creditors. Each Eligible Employee and Key Executive shall advise
the Committee as to the investment of his or her Book Account by choosing among
investment options offered under the Plan. Earnings or losses generated from the
investments selected for a Book Account shall be credited or debited to such Book
Account. Notwithstanding the foregoing, the Company shall have no obligation to
actually invest the amount credited to any Book Account or to purchase any investment
option used to measure investment returns on any Book Account.

ARTICLE III. PAYMENT OF PRE-2005 SUBACCOUNT

	 	3.1	 	Except as otherwise provided in Section 3.2, the Pre-2005 Subaccount of an
Eligible Employee shall be paid in cash to the Eligible Employee, or to his or her
Beneficiary, in a single lump sum payment 90 days after the Eligible Employee’s
Termination Date, or as soon as administratively feasible thereafter.

	 	3.2	 	Notwithstanding the provisions contained in Section 3.1, an Eligible Employee
may elect to have his or her Pre-2005 Subaccount paid in monthly installments over a
period of five, ten, or fifteen years, or in a partial lump sum payment followed by
installment payments over a period of five, ten, or fifteen years. An election of
installment payments shall be made in writing and may be delivered to the Committee at
any time up to 15 days before the Eligible Employee’s Termination Date. Installment
payments shall commence 90 days after the Eligible Employee’s Termination Date, or as
soon as administratively feasible thereafter, and shall continue to be made on a
monthly basis for the duration of the period chosen. If the Eligible Employee dies
prior to receiving all installment payments, remaining installment payments shall be
paid to the Eligible Employee’s Beneficiary in a lump sum. Notwithstanding the
foregoing, if an Eligible Employee has a distribution election form on file with the
Committee prior to January 1, 2003, such election shall remain in effect unless or
until it is changed by the Eligible Employee.

	 	3.3	 	The determination of the amount of installment payments shall be designed to
distribute the entire Pre-2005 Subaccount in a series of substantially similar payments
over the installment period chosen by the Eligible Employee. Notwithstanding the
foregoing, if an Eligible Employee’s monthly installment payments are estimated to be
less than $300 per month as of the date benefits commence, the Committee may shorten
the installment period, in increments of five years, until the monthly installment
payments are estimated to equal or exceed $300. Notwithstanding the provisions
contained in Sections 3.2 and 4.2, if an Eligible Employee’s Book Account is less than
$10,000 on the date that
installment payments are to commence, the Book Account shall be paid to the Eligible
Employee in a single lump sum payment.

 

-7-

 

	 	3.4	 	Notwithstanding the foregoing provisions of this Article III and Article IV, if
this Plan is terminated within three years after a Change in Control, all Book Accounts
under the Plan will be paid to all Eligible Employees or their Beneficiaries in a
single lump sum payment as soon as administratively feasible.

	 	3.5	 	Benefits under this Plan shall be subject to federal, state, and local laws
applicable to income tax withholding. Book Account payments shall be reduced by
amounts withheld.

ARTICLE IV. PAYMENT OF POST-2004 SUBACCOUNT

	 	4.1	 	Except as otherwise provided in Section 4.2, the Post-2004 Subaccount of an
Eligible Employee who is not a Specified Employee shall be paid in cash to such
Eligible Employee, or to his or her Beneficiary, in a single lump sum cash payment
within 90 days after the Eligible Employee’s Termination Date. If the Eligible
Employee is a Specified Employee, then the payment shall be paid to such Eligible
Employee six months after the Eligible Employee’s Termination Date; however, if such
payment is to be paid to such Eligible Employee’s Beneficiary, the payment shall be
paid within 90 days after the Eligible Employee’s death.

	 	4.2	 	Notwithstanding the provisions contained in Section 4.1 and except as provided
in Section 4.3, an Eligible Employee may elect to have amounts prospectively credited
to his or her Post-2004 Subaccount paid in monthly installments over a period of five,
ten, or fifteen years. Such installment form of payment is to be treated for all
purposes hereunder as a single payment. If the Eligible Employee is not a Specified
Employee, then the installment payments shall commence within 90 days after the
Eligible Employee’s Termination Date, and shall continue to be made on a monthly
basis. If the Eligible Employee is a Specified Employee, then the installment payments
shall commence six months after the Eligible Employee’s Termination Date; provided, the
first installment payment shall also include an aggregate payment of the first six
months of installment payments that otherwise would have already been paid but for the
application of this six month delayed distribution commencement period . If the
Eligible Employee dies prior to receiving all installment payments, then the remaining
installment payments shall be paid to the Eligible Employee’s Beneficiary in a lump sum
within 90 days after the Eligible Employee’s date of death.

 

-8-

 

	 	4.3	 	An Eligible Employee may change his or her distribution election with respect
to all or a portion of his or her
Post-2004 Subaccount by filing a distribution
election form with the Committee. However, except to the extent permitted under Code
Section 409A, a revised distribution election must comply with the following rules:

	 	(a)	 	The revised distribution election may not accelerate either the
time or form of payment. A revised election that does not comply with this
rule will be null and void, and will be disregarded by the Plan.

	 	(b)	 	The revised distribution election may change the form or time
of payment and such revised election will be given effect, provided such
election does not take effect until 12 months after the date on which the
election is made and, except in the case of an election related to payment on
account of death or disability, the first payment that is made pursuant to the
revised election is deferred for at least five years from the date payment
would otherwise have commenced. A revised election that does not comply with
these rules will be null and void, and will be disregarded by the Plan.

	 	4.4	 	The determination of the amount of installment payments shall be designed to
distribute the entire
Post-2004 Subaccount in a series of substantially similar
payments over the installment period chosen by the Eligible Employee. Notwithstanding
the provisions contained in Sections 3.2 and 4.2, if an Eligible Employee’s Book
Account is less than $10,000 on the date that installment payments are to commence, the
Book Account shall be paid to the Eligible Employee in a single lump sum payment within
90 days.

	 	4.5	 	Notwithstanding the foregoing provisions of Article III and this Article IV, if
this Plan is terminated within three years after a Change in Control, all Book Accounts
under the Plan will be paid to all Eligible Employees or their Beneficiaries in a
single lump sum payment, such payment to be made 12 months
following Plan termination.

	 	4.6	 	Benefits under this Plan shall be subject to federal, state, and local laws
applicable to income tax withholding. Book Account payments shall be reduced by
amounts withheld.

	 	4.7	 	Notwithstanding the general distribution election rules under Code Section 409A
or the above to the contrary, pursuant to the transaction rules set forth in Treasury
regulations promulgated pursuant to Code Section 409A and other IRS guidance issued in
connection with Code Section 409A thereto, an Eligible Employee shall be permitted to
make a new payment election with respect to the form of payment of the Eligible
Employee’s Post-2004 Subaccount, provided, such election (1) is made on or before
December 31, 2008, (2) shall apply only to amounts that would not otherwise be payable
in 2008, and (3) shall not cause an amount to be paid in 2008, that would not otherwise
be payable in such year.

 

-9-

 

ARTICLE V. AMENDMENT AND TERMINATION

	 	5.1	 	The Board of Directors of the Company reserves the right to amend this Plan or
terminate it at any time; provided, however, that no such amendment or termination
shall have the effect of reducing the amount credited to an Eligible Employee’s Book
Account prior to such amendment or termination. The Committee may amend the Plan at
any time, provided that amendments made by
the Committee shall only be valid if the amendments do not materially impact the
cost or the nature of the Plan. Notwithstanding the foregoing, the Plan may not be
amended or terminated for a period of two years after a Change in Control unless a
majority of the Eligible Employees participating in the Plan consent to the
amendment or termination.

	 	5.2	 	In the event of Plan termination, all Book Accounts under the Plan will be paid
to all Eligible Employees or their Beneficiaries in a single lump sum payment as soon
as administratively feasible.

ARTICLE VI. GENERAL PROVISIONS

	 	6.1	 	This Plan shall be administered by the Committee, which shall maintain records
to enable the Committee to identify Eligible Employees and/or Beneficiaries who are
entitled to receive benefits under the Plan and the amount of such benefits.

	 	6.2	 	The right or interest of any person entitled to a benefit under this Plan shall
not be subject to voluntary or involuntary alienation, assignment, or transfer of any
kind.

	 	6.3	 	The establishment of this Plan shall not confer any legal right to an Eligible
Employee for continuation of employment, or interfere with the right of the Company to
discharge any Eligible Employee or to treat an Eligible Employee without regard to the
effect that such treatment may have under this Plan.

	 	6.4	 	Except to the extent that federal law is controlling, this Plan shall be
construed and administered in accordance with the laws of the State of North Carolina.

	 	6.5	 	Notwithstanding any Plan provisions herein to the contrary and, to the extent
applicable, the Plan shall be interpreted, construed and administered (including with
respect to any amendment, modification or termination of the Plan) in such a manner so
as to comply with the provisions of Code Section 409A and any related Internal Revenue
Service guidance promulgated thereunder.

[Remainder of page intentionally left blank]

 

-10-

 

IN WITNESS WHEREOF, the Company has caused this Plan to be executed this
 _____ 
day of
 _____,

 _____, to be effective as specified above.

	 	 	 	 	 	 	 	 	 
	 	 	GOODRICH CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Its:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

 

-11-

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