SEC Info  
    Home      Search      My Interests      Help      Sign In      Please Sign In

Raytheon Co – ‘10-Q’ for 4/3/16 – ‘EX-10.2’

On:  Thursday, 4/28/16, at 10:11am ET   ·   For:  4/3/16   ·   Accession #:  1047122-16-254   ·   File #:  1-13699

Previous ‘10-Q’:  ‘10-Q’ on 10/22/15 for 9/27/15   ·   Next:  ‘10-Q’ on 7/28/16 for 7/3/16   ·   Latest:  ‘10-Q’ on 10/24/19 for 9/29/19   ·   4 References:   

Find Words in Filings emoji
 
  in    Show  and   Hints

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

 4/28/16  Raytheon Co                       10-Q        4/03/16   79:7.9M

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

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    792K 
 2: EX-10.1     Material Contract                                   HTML     39K 
 3: EX-10.2     Material Contract                                   HTML     41K 
 4: EX-10.3     Material Contract                                   HTML     30K 
 5: EX-10.4     Material Contract                                   HTML     67K 
 6: EX-15       Awareness Letter of Independent Registered Public   HTML     26K 
                Accounting Firm                                                  
 7: EX-31.1     Certification of Chairman and Chief Executive       HTML     31K 
                Officer, Section 302                                             
 8: EX-31.2     Certification of Vice President and Chief           HTML     31K 
                Financial Officer, Section 302                                   
 9: EX-32.1     Certification of Chairman and Chief Executive       HTML     26K 
                Officer, Section 906                                             
10: EX-32.2     Certification of Vice President and Chief           HTML     26K 
                Financial Officer, Section 906                                   
17: R1          Document and Entity Information                     HTML     47K 
18: R2          Consolidated Balance Sheets (Unaudited)             HTML    108K 
19: R3          Consolidated Balance Sheets (Unaudited)             HTML     29K 
                (Parenthetical)                                                  
20: R4          Consolidated Statements of Operations (Unaudited)   HTML    111K 
21: R5          Consolidated Statements of Comprehensive Income     HTML     65K 
                (Unaudited)                                                      
22: R6          Consolidated Statements of Equity (Unaudited)       HTML     67K 
23: R7          Consolidated Statements of Cash Flows (Unaudited)   HTML    134K 
24: R8          Basis of Presentation                               HTML     31K 
25: R9          Accounting Standards                                HTML     34K 
26: R10         Changes in Estimates under Percentage of            HTML     39K 
                Completion Contract Accounting                                   
27: R11         Earnings per Share (Eps)                            HTML     64K 
28: R12         Inventories                                         HTML     37K 
29: R13         Acquisitions and Goodwill                           HTML     59K 
30: R14         Forcepoint Joint Venture                            HTML     46K 
31: R15         Derivative and Other Financial Instruments          HTML     52K 
32: R16         Commitments and Contingencies                       HTML     72K 
33: R17         Stockholders' Equity                                HTML    121K 
34: R18         Pension and Other Employee Benefits                 HTML     69K 
35: R19         Income Taxes                                        HTML     29K 
36: R20         Business Segment Reporting                          HTML    283K 
37: R21         Changes in Estimates Under Percentage of            HTML     33K 
                Completion (Tables)                                              
38: R22         Earnings per Share (EPS) Earnings per Share (Eps)   HTML     63K 
                (Tables)                                                         
39: R23         Inventories (Tables)                                HTML     36K 
40: R24         Acquisitions and Goodwill (Tables)                  HTML     51K 
41: R25         Forcepoint Joint Venture (Tables)                   HTML     42K 
42: R26         Derivative and Other Financial Instruments          HTML     31K 
                (Tables)                                                         
43: R27         Commitments and Contingencies (Tables)              HTML     58K 
44: R28         Stockholders' Equity (Tables)                       HTML    107K 
45: R29         Pension and Other Employee Benefits (Tables)        HTML     72K 
46: R30         Business Segment Reporting (Tables)                 HTML    282K 
47: R31         Changes in Estimates under Percentage of            HTML     41K 
                Completion Contract Accounting Change in Estimate                
                Under Percentage of Completion (Details)                         
48: R32         Earnings per Share (EPS) Earnings per Share (Eps)   HTML     34K 
                (Narrative) (Details)                                            
49: R33         Earnings per Share (EPS) Earnings per Share (Eps)   HTML     48K 
                (EPS from Continuing Operations) (Details)                       
50: R34         Earnings per Share (EPS) Earnings per Share (Eps)   HTML     33K 
                (Income from participating securities) (Details)                 
51: R35         Earnings per Share (EPS) Earnings per Share (Eps)   HTML     37K 
                (Weighted-Average Shares) (Details)                              
52: R36         Inventories Inventory (Narrative) (Details)         HTML     26K 
53: R37         Inventories (Schedule of Inventories) (Details)     HTML     34K 
54: R38         Acquisitions and Goodwill (Narrative) (Details)     HTML     37K 
55: R39         Acquisitions and Goodwill (Rollforward of Goodwill  HTML     51K 
                by Segments) (Details)                                           
56: R40         Forcepoint Joint Venture Noncontrolling Interest    HTML     38K 
                (Narrative) (Details)                                            
57: R41         Forcepoint Joint Venture Redeemable Noncontrolling  HTML     42K 
                Interest Rollforward (Details)                                   
58: R42         Derivative and Other Financial Instruments          HTML     65K 
                (Narrative) (Details)                                            
59: R43         Derivative and Other Financial Instruments          HTML     29K 
                Derivative and Other Financial Instruments                       
                (Schedule of Long Term Debt Details) (Details)                   
60: R44         Commitments and Contingencies (Narrative)           HTML     42K 
                (Details)                                                        
61: R45         Commitments and Contingencies (Estimates of Total   HTML     35K 
                Remediation Costs, Weighted Average Risk-Free                    
                Rate, Total Remediation Costs - Discounted and                   
                Recoverable Portion) (Details)                                   
62: R46         Commitments and Contingencies (Stated Values        HTML     30K 
                Outstanding) (Details)                                           
63: R47         Commitments and Contingencies (Activity Related to  HTML     32K 
                Product Warranty Accruals) (Details)                             
64: R48         Stockholders' Equity (Narrative) (Details)          HTML     78K 
65: R49         Stockholders' Equity (Changes in Shares of Common   HTML     32K 
                Stock Outstanding) (Details)                                     
66: R50         Stockholders' Equity (Repurchases of Common Stock)  HTML     36K 
                (Details)                                                        
67: R51         Stockholders' Equity Stockholders' Equity           HTML     94K 
                (Comprehensive Income) (Details)                                 
68: R52         Pension and Other Employee Benefits (Narrative)     HTML     47K 
                (Details)                                                        
69: R53         Pension and Other Employee Benefits Pension and     HTML     29K 
                Other Employee Benefits (Schedule of Marketable                  
                Securities) (Details)                                            
70: R54         Pension and Other Employee Benefits (Schedule of    HTML     49K 
                Components of Net Periodic Benefit Cost) (Details)               
71: R55         Pension and Other Employee Benefits Pension and     HTML     33K 
                Other Employee Benefits Schedule of Liabilities                  
                (Details)                                                        
72: R56         Pension and Other Employee Benefits Pension and     HTML     29K 
                Other Employee Benefits (Schedule of                             
                Contributions) (Details)                                         
73: R57         Business Segment Reporting Business Segment         HTML     75K 
                Reporting (Revised Results) (Details)                            
74: R58         Business Segment Reporting (Segment Results)        HTML     75K 
                (Details)                                                        
75: R59         Business Segment Reporting (Components of FAS/CAS   HTML     36K 
                Adjustment) (Details)                                            
76: R60         Business Segment Reporting (Total Assets)           HTML     41K 
                (Details)                                                        
78: XML         IDEA XML File -- Filing Summary                      XML    138K 
77: EXCEL       IDEA Workbook of Financial Reports                  XLSX     71K 
11: EX-101.INS  XBRL Instance -- rtn-20160403                        XML   2.20M 
13: EX-101.CAL  XBRL Calculations -- rtn-20160403_cal                XML    216K 
14: EX-101.DEF  XBRL Definitions -- rtn-20160403_def                 XML    698K 
15: EX-101.LAB  XBRL Labels -- rtn-20160403_lab                      XML   1.29M 
16: EX-101.PRE  XBRL Presentations -- rtn-20160403_pre               XML    823K 
12: EX-101.SCH  XBRL Schema -- rtn-20160403                          XSD    141K 
79: ZIP         XBRL Zipped Folder -- 0001047122-16-000254-xbrl      Zip    199K 


‘EX-10.2’   —   Material Contract


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



 <!   C:   C: 
  Exhibit  
Exhibit 10.2


    
 
 
Raytheon Company
 
Chairman & Chief Executive Officer
 
870 Winter Street
 
781.522.6400 tel
 
Waltham, Massachusetts
 
781.522.6401 fax
 
02451 USA
 
 
 
 

December 16, 2014

Frank R Jimenez



Dear Frank:
It is my sincere pleasure to offer you the position as Vice President of Raytheon, General Counsel and Secretary of the Board of Directors as an elected officer of Raytheon. The Secretary title will be added upon the retirement of the current Secretary scheduled for March 31, 2015.
The offer details are as follows:

Your base salary will be $680,000 annually, paid at a bi-weekly rate of $26,153.85 effective upon your date of hire. Your next eligibility for a base salary increase will be March, 2016.

Your Results Based Incentive (RBI) Program target for 2015 will be 100% of your annualized base salary. A projected award amount is $680,000, subject to individual and company performance and will be approved by the Management Development and Compensation Committee of the Raytheon Board of Directors on January 20, 2015.

You will be eligible to participate in the Company’s Long Term Participant Plan (LTPP). As a first-time participant in this program in 2015, your award value is $1,000,000. Based on performance achieved at the end of a three-year cycle (2015-2017), your payout may be higher or lower than the initial award value based on company performance against the plan metrics. Participation in this plan is subject to annual review.

You will be eligible to participate in the annual restricted share award program subject to the terms of the award and the provisions of the Raytheon Stock Plan. Your 2015 award as an Elected Vice President of Raytheon is valued at $800,000 and subject to approval by the Management Development and Compensation Committee of the Raytheon Board of Directors on January 20, 2015.

Subject to acceptance of this offer, upon hire you will receive a cash award of $450,000 to replace the value of your forgone bonus from your prior employer. In addition, you will be granted $1,544,000 in value of Restricted Stock that will vest over a period of three years on the anniversary of your hire. This award is also from forgone value from your previous employer. If you are involuntarily separated from the company without cause prior to this award being vested, any unvested portion of this stock award will vest upon separation.

You will be required by the end of your fifth (5th) year in an elected officer capacity to hold beneficial ownership of a minimum of three (3x) times base salary in the form of Raytheon equity. In addition, there is a requirement that each elected officer holds shares of Company "stock owned outright" with a value of at least 1x base salary.



Company stock owned outright includes the following Company securities: outright share purchases, shares from restricted stock/unit vestings in any Company retirement plan (e.g., 401(k), Deferred Compensation Plan).

If you are involuntarily separated from employment with the Company without cause, as defined in the Raytheon Severance Pay Plan, you will be entitled to a separation payment of one (1) times your annual base salary and target bonus, as well as one (1) years benefits as of the date of separation in exchange for a General Release.

You will be entitled to a Change in Control Severance Agreement which would provide you with severance benefits equal to two (2) times your annual base salary and target bonus as of the date of the change in control in the event of a change in control of the company. Please note that the Change in Control Severance Agreement is structured to require both a change in corporate ownership and a loss of employment as those terms are defined in the draft agreement.

You will be eligible to participate in the Raytheon Supplemental Executive Retirement Plan. This non-qualified plan provides a pension of 35% of final average compensation after ten (10) years of Raytheon service and attainment of age 55, increasing by 3% of final average compensation for every additional year of service up to a maximum of 50% of final average compensation after fifteen (15) years of service and attainment of age 60. Amounts payable under this plan will be offset by amounts payable under any other pension plan of the Company or any prior employer and by Social Security.

You will be eligible to participate in Raytheon’s Deferred Compensation Plan, subject to the terms and conditions of the program.

You will be eligible for twenty (20) days per year of Paid Time Off (PTO).

You will be eligible for an annual automobile allowance of $14,000.00, paid at a bi-weekly rate of $538.46.

You will be eligible to receive Company paid senior executive life insurance which equals four (4) times your annual base salary to a maximum of $3 million. You are also eligible to receive enhanced life insurance equal to one (1) times your annual base salary. If you choose not to elect this benefit, your enhanced life insurance will be capped at $50,000.00.

You will be eligible for financial planning assistance of $12,000.00 for your first year, and $10,000.00 annually thereafter, as Vice President, General Counsel and Secretary of the Board of Directors

You will be eligible for excess liability coverage of $5 million.

You will be eligible for the Executive Health Program, which includes an annual comprehensive medical assessment. This benefit has an annual allowance of $2,000.00 for your participation in the program. You will be enrolled in the Executive Registry. It is a health care program designed for traveling executives and their families. The Registry operates as a domestic and international network of leading academic medical centers and affiliations.

You will be eligible for first class airfare for all business travel.

You will be eligible for key relocation coverage under the Raytheon relocation policy.



This letter sets forth the entire offer and understanding between you and the Company related to your employment with Raytheon. Acceptance of this offer will be considered an acceptance to all the terms and conditions contained within the offer and the attachments.

Frank, I look forward to you leading our General Counsel organization with responsibility as Secretary of the Board of Directors. Please sign below to indicate your acceptance and return to Keith Peden. Please contact Keith at 781.522.5097 if you have additional questions.

Sincerely,

/s/ Thomas A. Kennedy
Thomas A. Kennedy








I have read and accept this offer.



Accepted:    /s/ Frank R. Jimenez
Frank R. Jimenez


Date:        December 17, 2014



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:4/28/168-K
For Period end:4/3/16
3/31/15
1/20/154
12/17/148-K
12/16/148-K
 List all Filings 


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
Top
Filing Submission 0001047122-16-000254   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Copyright © 2024 Fran Finnegan & Company LLC – All Rights Reserved.
AboutPrivacyRedactionsHelp — Sat., Apr. 27, 11:05:19.1am ET