Polaris Early Retirement Perquisite Policy for A2, B1, and B2 Officers (Revised October 2007)

Summary

This policy outlines early retirement benefits for Polaris officers at the A2, B1, and B2 levels who are at least 55 years old with 10 years of service. Eligible retirees and their spouses receive continued medical and dental insurance, use of company products, annual physical exams, and access to a demo motorcycle. Unvested stock options are forfeited upon retirement, while vested options may be exercised for up to 36 months. Long-term incentive plan (LTIP) payouts are prorated based on time worked. Coverage details and conditions are specified in the plan documents.

EX-10.AA 5 c22501exv10waa.htm EARLY RETIREMENT PERQUISITE POLICY exv10waa


		Exhibit 10.aa


Subject
	PERQUISITES — A2 and B1 and B2 Officer Early Retirement	Revised: 10/2007


Eligibility:		Position of A2 or B1 and B2 level officer age 55 with10 years of service.

Medical Insurance		Polaris will provide a fully insured medical insurance plan through the same provider as an active Polaris employee for eligible retirees and spouses. Full coverage is provided from age 55 to 64 then coverage coincides with Medicare B for age 65+. Details are outlined in the summary plan documents.

Dental Insurance		Dental insurance will be continued for the retiree and spouse under a fully insured plan at the same coverage level and with the same provider as an active Polaris employee.

Company Products		Continued use of company products in accordance with the active officer product program. This includes up to 6 products for B level officers and 12 products for A2 level officers, accompanied by clothing and accessories, subject to the rules of the active officer product program. The Company will also arrange for the use of a demo motorcycle from one of our dealers when requested anywhere that Polaris has a Victory dealer.

Physical Exams		Continued annual physicals at the Mayo Clinic for retired officer and spouse in accordance with the active officer benefit. This is a taxable benefit and the individual will receive a1099 form for tax filing purposes.

Stock Options		Unvested outstanding stock options shall be forfeited on the effective date of termination of employment. Exercise period for vested options is 36 months from the effective date of termination of employment.

LTIP		Prorated LTIP payout based on time worked during performance measurement period payable at the end of the measurement period in accordance with normal payment schedule.