SEC Contract Filing

Filing Date: 2016-08-04

Document Content:
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<TYPE>EX-10.02
<SEQUENCE>3
<FILENAME>mlm-ex1002_8.htm
<DESCRIPTION>EX-10.02
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.02</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#47829E;font-size:11pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">MARTIN MARIETTA </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#47829E;font-size:11pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">EXECUTIVE CASH INCENTIVE PLAN </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Adopted: February&#160;18, 2016 </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">1.&#160;&#160;&#160;&#160;BACKGROUND AND PURPOSE </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-size:11pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Martin Marietta Executive Cash Incentive Plan (the &#8220;Plan&#8221;) was approved by the Board of Directors of Martin Marietta Materials, Inc. on February&#160;18, 2016, subject to approval by its shareholders at the meeting held on May&#160;19, 2016 in a manner that complies with Section&#160;162(m). The Plan will be effective for cash bonuses earned on and after May&#160;19, 2016. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-size:11pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The purpose of the Plan is to provide management employees of Martin Marietta Materials, Inc. and its Affiliates (as defined below) with an incentive to accomplish such business objectives as from time to time may be determined by the Committee (as defined below). </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">2.&#160;&#160;&#160;&#160;DEFINITIONS </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:6.15%;font-size:11pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a) &#8220;<font style="text-decoration:underline;">Affiliate</font>&#8221; means, with respect to any Person, any other person that, directly or indirectly, is in control of, is controlled by, or is under common control with, such Person. For purposes of this definition, the term &#8220;control,&#8221; including its correlative terms &#8220;controlled by&#8221; and &#8220;under common control with,&#8221; mean, with respect to any Person, the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:6.15%;font-size:11pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(b) &#8220;<font style="text-decoration:underline;">Award</font>&#8221; means a cash bonus award granted under the Plan. Except as otherwise provided by the Committee, an Award shall be expressed as the percentage of a Grantee&#8217;s base salary payable for a Plan Year that shall become payable if the Targets established by the Committee are satisfied. The portion of an Award that shall be payable to a Grantee shall be determined by the Committee in accordance with the rules established for the Award for each Plan Year. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:6.15%;font-size:11pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(c) &#8220;<font style="text-decoration:underline;">Board</font>&#8221; means the Board of Directors of the Company. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:6.15%;font-size:11pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(d) &#8220;<font style="text-decoration:underline;">Committee</font>&#8221; means a committee composed of members of, and designated by, the Board of Directors and, unless otherwise determined by the Board, consisting solely of persons who are &#8220;outside directors&#8221; within the meaning of Section&#160;162(m), as Section&#160;162(m) may be amended from time to time, which committee shall at all times comprise at least the minimum number of such persons necessary to comply with Section&#160;162(m). If the Management Development and Compensation Committee of the Board of Directors satisfies the foregoing criteria, references in this Plan to the Committee shall be deemed to refer to such Committee of the Board of Directors. All references to the Committee shall