Bird ingested in the engine after takeoff: the crew ejects

What happens in this video ?

This spectacular accident illustrates the danger of birds for airplane. The video was shot from a Hawk cockpit, on May 14th 2004, at Moose Jaw, SK, Canada. One crewmember was seriously injured and the other received minor injuries.
Shortly after lift-off, a bird is ingested in the engine. This was followed immediately by audio and caption engine warnings and high engine temperature indication. The aircraft reached a maximum altitude of approximately 1700 ft above ground level, and before starting to loose altitude. Then, both crewmembers ejected.