Addendum to First Amendment to Employment Agreement between Alliant Techsystems Inc. and Executive
This addendum clarifies the calculation of the annual cash incentive bonus for the Supplemental Employees Retirement Plan (SERP) under the executive's employment agreement with Alliant Techsystems Inc. The bonus is defined as the amount determined by applying a performance percentage, set by the Personnel and Compensation Committee, to the executive's annual target bonus for each year served as CEO, before any deferral or conversion to company stock. The addendum is signed by company representatives and the CEO.
Exhibit 10.3
ADDENDUM TO FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
The First Amendment To Employment Agreement provides a non-qualified Supplemental Employees Retirement Plan (SERP) under which certain benefits are to be provided to the Executive. Section 4(b)(i)(A) of the Agreement defines the SERP to be a multiple of the Executive's base salary and annual cash incentive bonus.
The purpose of this addendum is to clarify the meaning of annual cash incentive bonus.
The annual cash incentive bonus is the amount calculated by applying a performance percent, as determined by the Personnel and Compensation Committee of the Board, to the executive's annual target bonus for each year (or portion of a year) that the executive is employed as Chief Executive Officer of Alliant Techsystems Inc.; the annual cash incentive bonus amount is calculated before any deferral or conversion to ATK stock.
| /s/ Daryl L. Zimmer | /s/ Paul David Miller | |
Daryl L. Zimmer | Paul David Miller | |
| Vice President, General Counsel and Secretary | Chairman and Chief Executive Officer | |
| Date: August 9, 2000 | | Date: August 9, 2000 |
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ADDENDUM TO FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
