Amendment No. 1 to TransDigm Group Incorporated Fourth Amended and Restated 2003 Stock Option Plan

Contract Categories: Business Finance › Stock Agreements
Summary

This amendment updates the TransDigm Group Incorporated 2003 Stock Option Plan by revising the definitions of Annual EBITDA Target and Cumulative EBITDA Target for fiscal years 2004 through 2008. The changes allow the Board to adjust these targets in good faith for acquisitions, dispositions, or similar events. All other terms of the plan remain unchanged. The amendment was adopted by the Board of Directors and is effective as of September 30, 2007.

Read More Arrow
EX-10.13 6 dex1013.htm AMENDMENT NO. 1 TO TRANSDIGM GROUP INCORPORATED 2003 STOCK OPTION PLAN Amendment No. 1 to TransDigm Group Incorporated 2003 Stock Option Plan

Exhibit 10.13

AMENDMENT NO. 1

TO THE

TRANSDIGM GROUP INCORPORATED

FOURTH AMENDED AND RESTATED 2003 STOCK OPTION PLAN

WHEREAS, TransDigm Group Incorporated (the “Company”) currently maintains and sponsors the TransDigm Group Incorporated Fourth Amended and Restated 2003 Stock Option Plan (the “Plan”); and

WHEREAS, the Board of Directors of the Company (the “Board”) wishes to amend the Plan in accordance with the provisions of Sections 2(c), 2(j) and 17.

NOW, THEREFORE, the Plan is hereby amended as follows:

1. By replacing Section 2(c) of the Plan in its entirety as follows:

 

  “(c) ‘Annual EBITDA Target’ means:

 

  (i) for fiscal year 2004 (ending September 30, 2004), $134.7 million;

 

  (ii) for fiscal year 2005, $163 million;

 

  (iii) for fiscal year 2006, $190.1 million;

 

  (iv) for fiscal year 2007, $250.0 million; and

 

  (v) for fiscal year 2008, $302.1 million;

provided, however, the Annual EBITDA Target shall be appropriately adjusted in good faith by the Board for any acquisitions, dispositions or other similar events that effect the determination of Annual EBITDA.”

2. By replacing Section 2(j) of the Plan in its entirety as follows:

 

  “(j) ‘Cumulative EBITDA Target’ means

 

  (i) for fiscal year 2004, $134.7 million;

 

  (ii) for fiscal year 2005, $297.7 million;

 

  (iii) for fiscal year 2006, $487.8 million;

 

  (iv) for fiscal year 2007, $737.7 million; and

 

  (v) for fiscal year 2008, $1,039.8 million;

provided, however, the Cumulative EBITDA Target shall be appropriately adjusted in good faith by the Board for any acquisitions, dispositions or other similar events that effect the determination of Cumulative EBITDA.”

3. This Amendment No. 1 shall be effective as of September 30, 2007.

4. Except as modified by this Amendment No. 1, all of the terms and conditions of the Plan shall remain valid and in full force and effect.

 

1

IN WITNESS WHEREOF, this Amendment No. 1 was duly adopted by the Board of Directors as of October 17, 2007.

 

TRANSDIGM GROUP INCORPORATED
By  

/s/ Gregory Rufus

 

Gregory Rufus, Executive Vice President,

Chief Financial Officer and Secretary

 

2