HEXCEL CORP /DE/
EX-10.1
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<p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit 10.1</font></b></p>

<p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">HEXCEL CORPORATION<br>
MANAGEMENT INCENTIVE COMPENSATION PLAN<br>
As Amended and Restated on April&nbsp;12, 2004</font></b></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></h1>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">I.&#160; Purpose</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
purpose of the Hexcel Corporation Management Incentive Compensation Plan (the
&#147;Plan&#148;) is to advance the interests of Hexcel Corporation (the &#147;Company&#148;) by
providing an incentive for those key employees who have a direct, measurable
opportunity to advance the Company&#146;s goals and promote the growth and
long-range interests of the Company. In addition, it is intended that the Plan
create linkage between performance and compensation, align management&#146;s
interests with the interests of stockholders and encourage team management and
corporate success. A further purpose of the Plan is to serve as a qualified
performance-based compensation program under Section&nbsp;162 (m) of the Code
(as defined below) in order to preserve the Company&#146;s tax deduction for
compensation paid under the Plan to the Chief Executive Officer of the Company.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">II.&#160; Definitions</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Adjusted GBU
EBITDA&#148; shall mean EBITDA before business consolidation and restructuring
expenses.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Adjusted
EBITDA&#148; shall mean, with respect to a GBU, GBU EBITDA before business
consolidation and restructuring expenses.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Affiliate&#148; of
any Person shall mean any other Person that directly or indirectly, through one
or more intermediaries, Controls, is Controlled by, or is under common Control
with, such first Person.&#160; The term
&#147;Control&#148; shall have the meaning specified in Rule 12b-2 under the Exchange
Act.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Award&#148; shall
mean the amount (if any) payable to a Participant in respect of a Plan Year
pursuant to the Plan.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Beneficial
Owner&#148; (and variants thereof) shall have the meaning given in Rule&nbsp;13d-3
promulgated under the Exchange Act.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Board&#148;
shall mean the Board of Directors of the Company.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Cause&#148; shall mean (i) the willful and
continued failure by the Participant to substantially perform the Participant&#146;s
duties with the Company (other than any such failure resulting from the
Participant&#146;s incapacity due to physical or mental illness) after a written
demand for substantial performance is delivered to the Participant by the
Company, which demand specifically identifies the manner in which the Company
believes that the Participant has not substantially performed the Participant&#146;s
duties, or (ii) the willful engaging by the Participant in conduct which is
demonstrably and materially injurious to the Company or its Subsidiaries,
monetarily or otherwise. For purposes of clauses (i) and (ii) of this
definition, no act, or failure to act, on the Participant&#146;s part shall be
deemed &#147;willful&#148; unless done, or omitted to</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">be done, by the
Participant not in good faith and without reasonable belief that the
Participant&#146;s act, or failure to act, was in the best interest of the Company.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;CEO&#148; shall mean the Chief Executive Officer
of the Company.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Change in Control&#148; shall have the meaning
given in Article&nbsp;XV hereof.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Code&#148; shall mean the Internal Revenue Code,
as amended.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Committee&#148; shall mean the Compensation
Committee of the Board or such other committee of the Board as may be
designated from time to time to administer the Plan.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Company&#148; shall mean Hexcel Corporation, a
Delaware corporation.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Consolidated Operating Cash Flow&#148; shall
mean the Company&#146;s operating cash flow computed as the sum of Adjusted EBITDA,
changes in working capital (on a constant currency basis), capital
expenditures, cash dividends received and cash payments made for business
consolidation and restructuring expenses.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Consolidated Operating Income&#148; shall mean
the net income of the Company and its Subsidiaries before preferred dividends
and accretion, equity in earnings (losses) of affiliated companies, income
taxes, interest expense and other non-operating gains and losses of the
Company.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Disability&#148; shall mean that, as a result of
the Participant&#146;s incapacity due to physical or mental illness or injury, the
Participant shall not have performed all or substantially all of the
Participant&#146;s usual duties as an employee for a period of more than
one-hundred-fifty (150) days in any period of one-hundred-eighty (180)
consecutive days.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(p)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;EBIT&#148; shall mean net income of the Company
and its Subsidiaries before preferred dividends and accretion, equity in
earnings (losses) of affiliated companies and income taxes.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(q)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;EBITDA&#148; shall
mean EBIT before depreciation and amortization.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(r)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;EBT&#148; shall
mean net income of the Company and its Subsidiaries before preferred dividends
and accretion, equity in earnings (losses) of affiliated companies and income
taxes.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(s)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;EPS (basic)&#148;
shall mean the consolidated net earnings (losses) available to common
shareholders of the Company and its Subsidiaries per share of issued and
outstanding Stock.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(t)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;EPS
(diluted)&#148; shall mean the consolidated net earnings (losses) available to
common shareholders of the Company and its Subsidiaries per share of Stock on a
fully diluted basis.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(u)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Eligible
Employee&#148; shall mean any officer or employee of the Company or a Subsidiary.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Exchange Act&#148;
shall mean the Securities Exchange Act of 1934, as amended from time to time.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(w)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;GBU EBITDA&#148;
shall mean, with respect to a GBU, EBIT before depreciation and amoritzation.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;GBU Operating Cash Flow&#148; shall mean, with
respect to a GBU, operating cash flow computed as the sum of Adjusted EBITDA,
changes in working capital (on a constant currency basis), capital
expenditures, cash dividends received and cash payments made for business
consolidation and restructuring expenses.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(y)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Management
Stock Purchase Plan&#148; shall mean the Hexcel Corporation Management Stock
Purchase Plan, as amended from time to time.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(z)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Participant&#148; shall mean any Eligible
Employee who is approved by the Committee, in its sole discretion, for
participation in the Plan in any Plan Year.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(aa)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Performance Goals&#148; shall mean any one or
more criteria and objectives established by the Committee which must be met
during the Plan Year as a condition of the Participant&#146;s receipt of an Award in
respect of such Plan Year. Performance Goals applicable to the CEO shall be
based upon the extent of attainment of a level of Adjusted EBITDA, Consolidated
Operating Cash Flow, Consolidated Operating Income, EBIT, EBITDA, EBT, EPS
(basic), EPS (diluted), ROE, Revenue, RONA, Stock Price or SVA. Performance
Goals applicable to any Participant other than the CEO may be any performance
measurement relating to the Company, a Subsidiary or business unit which the
Committee deems appropriate as well as the extent of attainment by a
Participant of individual performance objectives.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(bb)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Person&#148;, as used in
Article&nbsp;XV hereof, shall have the meaning given in Section&nbsp;3(a)(9) of
the Exchange Act, as modified and used in Sections 13(d) and 14(d) of the
Exchange Act.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(cc)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Plan&#148; shall mean
this Hexcel Corporation Management Incentive Compensation Plan, as amended from
time to time.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(dd)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Plan Year&#148; shall mean
each calendar year during which the Plan is in effect.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ee)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Restricted Stock
Units&#148; shall mean the units in which an Award is partially or wholly payable
pursuant to Article&nbsp;VI hereof and which are issuable pursuant to the
Management Stock Purchase Plan.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ff)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;ROE&#148; shall mean
return on the equity of the Company and its Subsidiaries on a consolidated basis.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(gg)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Revenue&#148; shall mean the consolidated net
sales of the Company and its Subsidiaries.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(hh)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;RONA&#148; shall mean return on the consolidated
net assets of the Company and its Subsidiaries.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Stock&#148; shall mean shares of common stock of
the Company, par value $.01 per share.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>


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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(jj)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Stockholders Agreement&#148; shall mean any
stockholders agreement, governance agreement or other similar agreement between
the Company and a holder or holders of Voting Securities.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(kk)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Stock Price&#148; shall
mean the price of the Company&#146;s Stock as reported on the New York Stock
Exchange Consolidated Transactions Tape.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ll)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Subsidiary&#148;
shall mean any subsidiary corporation of the Company consolidated with the
Company for financial reporting purposes.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(mm)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;SVA&#148; shall mean return on the weighted
average cost of capital of the Company.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(nn)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Target Incentive Award&#148; shall have the
meaning given in Section&nbsp;V(A) hereof.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(oo)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Voting Securities&#148; means Common Stock and
any other securities of the Company entitled to vote generally in the election
of directors of the Company.</p>

<p style="margin:0in 0in .0001pt;text-indent:.7in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">III.&#160; Administration</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Administration
of the Plan shall be by the Committee, which shall, in applying and
interpreting the provisions of the Plan, have full power and authority to
construe, interpret and carry out the provisions of the Plan.&#160; All decisions, interpretations and actions of
the Committee under the Plan shall be at the Committee&#146;s sole and absolute
discretion and shall be final, conclusive and binding upon all parties. No
member of the Board or the Committee shall be liable for any action taken or
determination made in good faith with respect to the Plan or any Award granted
hereunder.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">IV.&#160; Eligibility for Participation</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Committee shall have full and complete discretion in determining which Eligible
Employees may be Participants in the Plan in any Plan Year. Participation in
the Plan in any Plan Year shall not confer any right on any Participant to
participate in any subsequent Plan Year.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">V.&#160; Determination of Awards</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font style="font-style:italic;">Establishment of Target Incentive Awards and Performance Goals.</font></i>&#160; No later than ninety (90) days after the
beginning of a Plan Year the Committee shall establish for each Participant (i)
a Target Incentive Award for such Plan Year and the applicable Performance
Goals in respect of such Plan Year and (ii) the amount of Award payable under
the Plan as a percentage (which may exceed one hundred (100%) percent) of the
Target Incentive Award, derived from the degree of achievement of the
applicable Performance Goals. The Performance Goals established by the
Committee may be (but need not be) different each Plan Year and different goals
may be applicable to different Participants. As soon as practicable after the
establishment of the Target Incentive Award and Performance Goals, each
Participant shall be notified in writing of such Target Incentive Award and the
corresponding Performance Goals.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font style="font-style:italic;">Amount of Award Payable Normally.</font></i>&#160; The Committee shall determine the Award
payable to each Participant from the degree of achievement of the applicable
Performance Goals. The Committee may, in its sole discretion, (a) increase the
amount of any Award otherwise</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>


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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">payable to any
Participant (other than the CEO) or (b) decrease or eliminate the amount
payable to a Participant (including the CEO), in each case to reflect such
Participant&#146;s individual performance or such other factors as the Committee
deems relevant, or in recognition of changed or special circumstances. The
amount of the Award payable to the CEO for any Plan Year shall not exceed
$2,000,000.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font style="font-style:italic;">Amount of Award with Change of Employment Status.</font></i>&#160; In the event of a change in employment status
of a Participant (other than the CEO) during the Plan Year, the Committee may,
in its sole discretion, adjust the Award determinants for the Participant based
upon the Participant&#146;s new status.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">D.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font style="font-style:italic;">Amount of Award with Termination of Employment or Change in Control.</font></i>&#160; Except as otherwise provided in this
paragraph, payment of an Award to a Participant for a particular Plan Year
shall be made only if the Participant is employed by the Company or one of its
Subsidiaries on the last day of the Plan Year. Notwithstanding any other
provision of the Plan, in the case of a Participant&#146;s voluntary termination of
employment with the Company or a Subsidiary or upon termination of employment
with the Company or a Subsidiary for Cause during a Plan Year, the Committee
may, in its sole discretion, authorize the full or partial payment of an Award
for such Plan Year, if the Participant was actively employed for at least six
months during the Plan Year. In the case of a Participant&#146;s separation from
service due to Disability or death or, in the case of a Participant&#146;s (other
than the CEO) involuntary termination of employment by the Company or a
Subsidiary other than for Cause, a Participant shall be entitled to receive an
Award, prorated for the period of active employment with the Company or a
Subsidiary during the Plan Year, payable in accordance with Article&nbsp;VI
below. In the case of a Change in Control of the Company during a Plan Year, a
Participant shall be entitled to receive an Award, prorated for the period of
active employment with the Company or a Subsidiary during such Plan Year and
prior to the Change in Control, computed as if applicable Performance Goals had
been attained at the one hundred (100%) percent level and payable in cash no
later than the fifth (5th) day following the Change in Control.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VI.&#160; Payment of Awards</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font style="font-style:italic;">Timing of Payment.</font></i>&#160;
Except as provided in the last sentence of Section&nbsp;V(D) hereof, an
Award which becomes payable to a Participant pursuant to Article&nbsp;V hereof
shall be paid to the Participant (or the Participant&#146;s estate in the event of
the Participant&#146;s death) as soon as practicable after the close of the Plan
Year and certification by the Committee of the degree of achievement of the
relevant Performance Goals. No Participant shall have the unconditional right
to an Award hereunder until the Plan Year has concluded and the exact amount of
the Award (if any) has been determined and certified by the Committee.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font style="font-style:italic;">Payment in Cash and/or Restricted Stock Units.</font></i>&#160; At the election of each Participant who has
been designated by the Committee as a participant in the Management Stock
Purchase Plan, up to fifty (50%) percent of the Participant&#146;s Award for any
Plan Year shall be paid in Restricted Stock Units pursuant to, and subject to
the terms and conditions of, the Management Stock Purchase Plan; provided,
however, that the Participant&#146;s Award for any Plan Year in which a Change in
Control occurs shall be paid totally in cash. The Committee, in its discretion,
may permit a Participant in the Management Stock Purchase Plan who first
becomes employed by the Company or a Subsidiary during a given Plan Year to
elect to have up to one-hundred (100%) percent of the Participant&#146;s Award for
such Plan Year paid in such Restricted Stock Units. The number of Restricted
Stock Units to be paid to a Participant shall be calculated in accordance with
the Management Stock Purchase Plan. Payment of the balance of the Participant&#146;s
Award for</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>


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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">such Plan Year (or all
thereof if no election of Restricted Stock Units is made by the Participant)
shall be made in cash. Payments of portions of any Awards made in Restricted
Stock Units pursuant to the Management Stock Purchase Plan may be referred to
therein as &#147;purchases&#148; of such Restricted Stock Units.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VII.&#160; Deferral Elections</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Committee may, at its option, establish written procedures pursuant to which
Participants are permitted to defer the receipt of Awards payable under the
Plan.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIII.&#160; Accounting Determinations</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Committee reserves sole discretion in adopting and changing, from time to time,
the accounting principles and practices reflected in audited financial
statements of the Company and, in its sole and absolute judgment, to make such
other adjustments in Company financial results and/or Performance Goals as may
be deemed reasonable, including, without limitation, changes to reflect
acquisitions, divestitures, other corporate capital reorganizations,
recapitalization or extraordinary events.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">IX.&#160; Amendment and Termination of Plan</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Compensation Committee of the Board reserves the right, at any time including
during a Plan Year, to amend, suspend or terminate the Plan, in whole or in
part, in any manner, and for any reason, and without the consent of any
Participant, or other person; provided, that no such amendment, suspension or
termination shall adversely affect the payment of any Award for a Plan Year
ending prior to the action amending, suspending or terminating the Plan or the
payment of any Award payable pursuant to the last sentence of Section&nbsp;V(D)
hereof or the rights of a Participant pursuant to any agreement with the
Company or any Subsidiary.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">X.&#160; Governing Law</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
provisions of the Plan shall be governed and construed in accordance with the
laws of the State of Delaware without giving effect to the choice of law
principles thereof.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">XI.&#160; Miscellaneous Provisions</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nothing
contained in the Plan shall give any employee the right to be retained in the
employment of the Company or a Subsidiary or affect the right of the Company or
a Subsidiary to dismiss any employee. The Plan shall not constitute a contract
between the Company or a Subsidiary and any employee. Unless approved by the
Committee in respect of a particular Plan Year, no Participant shall have any
right to be granted an Award hereunder. Nothing contained in the Plan shall
restrict the Committee&#146;s power to grant any employee an award or bonus outside
the scope of this Plan.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">XII.&#160; No Alienation of Benefits</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except
insofar as may otherwise be required by law, no amount payable at any time
under the Plan shall be subject in any manner to alienation by anticipation,
sale, transfer, assignment, bankruptcy, pledge, attachment, charge or
encumbrance of any kind, nor in any manner be subject to the debts or
liabilities of a Participant, and any attempt to so alienate or subject any
such amount, whether presently or thereafter payable, shall be void.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>


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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">XIII.&#160; No Right, Title or Interest in Company&#146;s
Assets</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nothing
contained in the Plan, and no action taken pursuant to its provisions, shall
create, or be construed to create, a trust of any kind, or fiduciary
relationship between the Company or a Subsidiary and any Participant or any
other person. To the extent that any person acquires a right to receive
payments from the Company under the Plan, such rights shall be no greater than
the right of an unsecured general creditor of the Company. All payments to be
made hereunder shall be paid from the general funds of the Company, and no
special or separate funds shall be established, and no segregation of assets
shall be made, to assure payment thereof.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">XIV.&#160; No Stock Subject to the Plan</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No
shares of Stock shall be reserved for, or issued under, the Plan. To the extent
that Awards are paid in Restricted Stock Units, each Restricted Stock Unit
shall be issued under, and subject to the terms and conditions of, the
Management Stock Purchase Plan.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">XV.&#160; Change in Control</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless
otherwise specified by the Committee at the commencement of a Plan Year, for
purposes of the Plan the term &#147;Change in Control&#148; shall mean any of the
following events:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1) any Person is or
becomes the Beneficial Owner, directly or indirectly, of 40% or more of either
(a) the then outstanding Stock of the Company (the &#147;Outstanding Common Stock&#148;)
or (b) the combined voting power of the then outstanding securities entitled to
vote generally in the election of directors of the Company (the &#147;Total Voting
Power&#148;); excluding, however, the following: (i) any acquisition by the Company
or any of its Controlled Affiliates, (ii) any acquisition by any employee
benefit plan (or related trust) sponsored or maintained by the Company or any
of its Controlled Affiliates and (iii) any Person who becomes such a Beneficial
Owner in connection with a transaction described in the exclusion within
paragraph (3) below; or</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2) a change in the
composition of the Board such that the individuals who, as of April&nbsp;12,
2004, constitute the Board (such individuals shall be hereinafter referred to
as the &#147;Incumbent Directors&#148;) cease for any reason to constitute at least a
majority of the Board; provided, however, for purposes of this definition, that
any individual who becomes a director subsequent to such date whose election,
or nomination for election by the Company&#146;s stockholders, was made or approved
pursuant to the terms of each then existing Stockholders Agreement or by a vote
of at least a majority of the Incumbent Directors (or directors whose election
or nomination for election was previously so approved) shall be considered a
member of the Incumbent Board; but, provided, further, that any such individual
whose initial assumption of office occurs as a result of either an actual or
threatened election contest (as such terms are used in Rule 14a-11 of
Regulation 14A promulgated under the Exchange Act) or other actual or
threatened solicitation of proxies or consents by or on behalf of a person or
legal entity other than the Board shall not be considered a member of the
Incumbent Board; or</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3) there is consummated
a merger or consolidation of the Company or any direct or indirect subsidiary
of the Company or a sale or other disposition of all or substantially all of
the assets of the Company (&#147;Corporate Transaction&#148;); excluding, however, such a
Corporate Transaction (a) pursuant to which all or substantially all of the
individuals and entities who are the Beneficial Owners, respectively, of the
Outstanding Common Stock and Total Voting Power immediately prior to such
Corporate Transaction will Beneficially Own, directly or indirectly,</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

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</font></div>


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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">more than 50%,
respectively, of the outstanding common stock and the combined voting power of
the then outstanding common stock and the combined voting power of the then
outstanding securities entitled to vote generally in the election of directors
of the company resulting from such Corporate Transaction (including, without
limitation, a company which as a result of such transaction owns the Company or
all or substantially all of the Company&#146;s assets either directly or through one
or more subsidiaries) in substantially the same proportions as their ownership
immediately prior to such Corporate Transaction of the Outstanding Common Stock
and Total Voting Power, as the case may be, and (b)&nbsp;immediately following
which the individuals who comprise the Board immediately prior thereto
constitute at least a majority of the board of directors of the company
resulting from such Corporate Transaction (including, without limitation, a
company which as a result of such transaction owns the Company or all or
substantially all of the Company&#146;s assets either directly or through one or
more subsidiaries); or</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4) the approval by the
stockholders of the Company of a complete liquidation or dissolution of the
Company.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">XVI.&#160; Interpretation</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Plan is designed and intended to comply with Section&nbsp;162 (m) of the Code
to the extent applicable to the CEO as a &#147;covered person&#148; as defined therein,
and the Plan shall be construed in a manner to so comply.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">XVII.&#160; Effective Date and Term</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Plan is hereby amended and restated as authorized
by the Compensation Committee on April&nbsp;12, 2004, subject to shareholder
approval.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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