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Raytheon Co – ‘10-K’ for 12/31/09 – ‘EX-10.37’

On:  Wednesday, 2/24/10, at 10:09am ET   ·   For:  12/31/09   ·   Accession #:  1193125-10-38391   ·   File #:  1-13699

Previous ‘10-K’:  ‘10-K’ on 2/25/09 for 12/31/08   ·   Next:  ‘10-K’ on 2/23/11 for 12/31/10   ·   Latest:  ‘10-K/A’ on 4/1/20 for 12/31/19   ·   4 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/24/10  Raytheon Co                       10-K       12/31/09   49:5.9M                                   Donnelley … Solutions/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.60M 
 2: EX-10.21    Form of Change in Control Severance Agreement       HTML     55K 
 3: EX-10.22    Form of Change in Control Severance Agreement       HTML     55K 
 4: EX-10.37    Summary of Key Employee Permanent Domestic          HTML     24K 
                Relocation Policy                                                
 5: EX-10.57    Form of Clawback Policy Acknowledgement             HTML     18K 
 6: EX-10.58    Summary of Executive Severance and Change in        HTML     22K 
                Control Guidelines                                               
 7: EX-10.59    Amendment Dated February 5, 2010 to Employee Offer  HTML     18K 
                Agreement                                                        
 8: EX-10.60    Form of Amendment to Change in Control Severance    HTML     20K 
                Agreement                                                        
10: EX-21       Subsidiaries of Raytheon Company                    HTML     15K 
11: EX-23       Consent of Independent Registered Public            HTML     16K 
                Accounting Firm                                                  
 9: EX-12       Statement Regarding Computation of Ratio of         HTML     28K 
                Earnings                                                         
12: EX-31.1     Certification of William H. Swanson Pursuant to     HTML     23K 
                Section 302                                                      
13: EX-31.2     Certification of David C. Wajsgras Pursuant to      HTML     23K 
                Section 302                                                      
14: EX-32.1     Certification of William H. Swanson Pursuant to 18  HTML     18K 
                U.S.C. Section 1350                                              
15: EX-32.2     Certification of David C. Wajsgras Pursuant to 18   HTML     17K 
                U.S.C. Section 1350                                              
40: XML         IDEA XML File -- Definitions and References          XML     94K 
45: XML         IDEA XML File -- Filing Summary                      XML     69K 
43: XML.R1      Statement Of Financial Position Classified           XML    244K 
44: XML.R2      Statement Of Financial Position Classified           XML     53K 
                (Parenthetical)                                                  
29: XML.R3      Statement Of Income Alternative                      XML    279K 
34: XML.R4      Statement of Income Alternative - Amounts            XML     61K 
                Attributable to Raytheon Company Common                          
                Stockholders                                                     
38: XML.R5      Statement Of Shareholders Equity And Other           XML    662K 
                Comprehensive Income                                             
37: XML.R6      Statement Of Cash Flows Indirect                     XML    381K 
48: XML.R7      Summary of Significant Accounting Policies           XML     90K 
25: XML.R8      Accounting Standards                                 XML     33K 
36: XML.R9      Acquisitions                                         XML     29K 
24: XML.R10     Discontinued Operations                              XML     75K 
23: XML.R11     Contracts in Process                                 XML     58K 
28: XML.R12     Property, Plant and Equipment, Net                   XML     35K 
42: XML.R13     Other Assets, Net                                    XML     62K 
30: XML.R14     Derivative Financial Instruments                     XML     61K 
31: XML.R15     Fair Value Measurement                               XML     64K 
35: XML.R16     Notes Payable and Long-term Debt                     XML     54K 
49: XML.R17     Commitments and Contingencies                        XML     47K 
27: XML.R18     Stockholders' Equity                                 XML     93K 
22: XML.R19     Stock-based Compensation Plans                       XML     92K 
33: XML.R20     Pension and Other Employee Benefits                  XML    327K 
41: XML.R21     Income Taxes                                         XML     85K 
26: XML.R22     Business Segment Reporting                           XML    187K 
39: XML.R23     Quarterly Operating Results (Unaudited)              XML     80K 
32: XML.R24     Document Information                                 XML     36K 
47: XML.R25     Entity Information                                   XML    105K 
46: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS    138K 
16: EX-101.INS  XBRL Instance -- rtn-20091231                        XML   1.32M 
18: EX-101.CAL  XBRL Calculations -- rtn-20091231_cal                XML    156K 
19: EX-101.DEF  XBRL Definitions -- rtn-20091231_def                 XML    318K 
20: EX-101.LAB  XBRL Labels -- rtn-20091231_lab                      XML    335K 
21: EX-101.PRE  XBRL Presentations -- rtn-20091231_pre               XML    390K 
17: EX-101.SCH  XBRL Schema -- rtn-20091231                          XSD     54K 


‘EX-10.37’   —   Summary of Key Employee Permanent Domestic Relocation Policy


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



  Summary of Key Employee Permanent Domestic Relocation Policy  

Exhibit 10.37

SUMMARY OF RAYTHEON COMPANY

KEY EMPLOYEE PERMANENT DOMESTIC RELOCATION POLICY

Raytheon Company (the “Company”) generally provides the following benefits to key employees of the Company when such employees relocate at the request of the Company to a location within the United States. For purposes of this Policy, key employees are defined as employees in exempt salary grades A/E08, A/E09, A99, B99, E44 and E88, which includes the Company’s executive officers.

 

   

Assistance with the sale of the current residence, including limited reimbursement for improvements and, on a case by case basis, staging and a guaranteed offer facilitated by the Company’s relocation vendor in the event that the employee is unable to sell the current residence. Price is based upon independent appraisals.

 

   

Reimbursement of sale and closing expenses (broker’s commissions up to 7% of the sale price, attorney fees up to $1,000 and reasonable closing expenses) up to 14% of the sale price of the current residence.

 

   

Reimbursement for duplicate housing expenses (mortgage interest, taxes, insurance, utilities, lawn care, and snow removal) for up to 90 days if the employee has moved into his or her new location while still incurring expenses at the old location. The former residence must be vacant and for sale. If the employee is a renter, the employee is entitled to receive duplicate rental costs for up to 30 days as long as the former residence is vacant and for rent. Additionally, renters can be reimbursed for up to 3 months’ rent for lease cancellation penalties if relocation occurs prior to expiration of lease term.

 

   

Assistance in searching for a new residence and reimbursement for two round-trips, for the employee and one adult household member, to search for a new residence, not to exceed ten total days. Covered expenses include round trip, economy class airfare or mileage (wherever practical); compact or mid-sized rental car (if required); meals, lodging (actual and reasonable), gas, parking, and tolls.

 

   

Reimbursement for temporary living expenses for one hundred twenty days (or 90 days for a renter) for lodging, meals and incidental expenses, up to a predetermined maximum rate based on the destination, if the employee is required to report for work at the new location or move the employee’s family prior to finding a new permanent residence. Additionally, the Company will cover expenses associated with compact or mid-size car rental until the employee’s personal car arrives at the destination location (if the destination location is within 350 miles, the employee is expected to drive) and a maximum of three (3) trips to the departure location to visit the employee’s family.

 

   

Reimbursement of customary and normal buyer’s closing costs in connection with the purchase of a new residence, including: (i) mortgage application fee; (ii) loan origination fee not to exceed 1% of the mortgage amount; (iii) loan discount points; (iv) attorney’s fees up to $1,000; (v) lender’s title insurance; (vi) appraisal fees; (vii) recording fees; (viii) state and local transfer taxes; and (ix) inspections.

 

   

90-day interest free equity bridge loan to be used for earnest money, a down payment, or closing on the purchase of a new home in the new location in the event that the old residence has not been sold. Elected officers are not eligible for this benefit due to the loan prohibition provisions of the Sarbanes-Oxley Act.

 

   

Reimbursement on sale of the employee’s current residence, capped at $100,000, if the purchase offer extended to the employee is less than the documented original purchase price for the employee’s residence.

 

   

Shipment of household goods and personal effects (and 3 vehicles if distance is greater than 350 miles), for up to 2 locations, including packing, loading, moving and unpacking, up to 60 days of storage and full replacement insurance.

 

   

Reimbursement for the employee and authorized dependent(s) for one-way trips to the new location. Reimbursement will be for coach/economy accommodations via air/rail or travel by personal vehicle. Eligible reimbursements include actual and reasonable meal and lodging expenses, incurred en route to the new home.


   

Miscellaneous expense allowance of up to $5,000, to be used for any miscellaneous expenses incurred that are not specifically addressed by the Policy.

 

   

Reimbursement of any higher mortgage interest expense incurred as a result of obtaining a higher interest rate for the purchase of the new residence than the rate on the mortgage for the old residence. Reimbursement is only made for rate differences of between 2% and 5% for up to three years.

 

   

Referral of employee’s spouse/partner to a professional outplacement services company to assist in seeking employment in new location, or reimbursement of up to $2,000 for such services.

 

   

The Company will provide tax assistance for all relocation costs that are not excludable from an employee’s income except for duplicate housing expenses, home improvement/staging allowances, reimbursement of loss on sale, loan origination fees, home purchase points and expenses with respect to moves that do not satisfy IRS distance requirements.


4 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/05/24  RTX Corp.                         10-K       12/31/23  130:19M
 2/07/23  RTX Corp.                         10-K       12/31/22  135:23M
 2/11/22  RTX Corp.                         10-K       12/31/21  138:24M
 2/08/21  RTX Corp.                         10-K       12/31/20  153:28M
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Filing Submission 0001193125-10-038391   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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