\n| <\/td>\n | W.P. Wylie<\/b>
\nVice President
\nHuman Resources and Administration<\/td>\n<\/tr>\n<\/table>\nFebruary 13, 2001<\/p>\n Mr. Kenneth C. Dahlberg:<\/p>\n Dear Mr. Dahlberg<\/p>\n On behalf of General Dynamics Corporation, we are pleased to extend an offer to
\nyou for the position of Executive Vice President \u0097 Information Systems and Technology. In
\nthis position you will be an officer of the Corporation and will report to
\nNicholas D. Chabraja, Chairman and Chief Executive Officer. Please understand
\nthat your election to officer status is subject to approval by the Board of
\nDirectors. Your starting salary will be paid bi-weekly at a rate equivalent to
\n$450,000 annually.<\/p>\n You will be eligible to participate in the Corporation\u0092s Incentive Compensation
\nand Long-Term Incentive Programs. Annual awards for Incentive Compensation are
\ndependent upon your performance as well as the corporation\u0092s performance. The
\nLong-Term Incentive Program (LTIP) provides annual awards of stock options and
\nperformance-restricted stock. The present value of your long-term award will be
\napproximately $1,100,000. Part of this award is in the form of options and part
\nin the form of performance restricted stock. Please note that all long-term
\nequity awards are subject to approval by the Compensation Committee of the
\nBoard of Directors. The value of your total direct compensation (salary, bonus,
\nand long-term equity) is about $2,000,000. Tommy Augustsson (703-876-3473) will
\ndiscuss the details of this program at your convenience.<\/p>\n In addition, you will be granted restricted shares of General Dynamics stock
\nwhich will serve to offset the forfeiture of your non-vested Raytheon stock
\noptions. The grant value will be the average of the high and low on your first
\nday of work and restrictions will lapse according to the original vesting
\nschedule. Also, you will be granted restricted shares of General Dynamics stock
\nto offset forfeitures of Raytheon shares. These shares will have a two year
\nrestriction period.<\/p>\n Using the February 12, 2001 closing prices of Raytheon (RTNb – $33.30) and
\nGeneral Dynamics (GD – $66.41) as an illustration, the resulting awards would be
\na grant of 40,293 shares of restricted stock. (See Enclosure for details of the
\ncalculations of this example.)<\/p>\n 3190 Fairview Park Drive
\nFalls Church, VA 22042-4523
\nTel 703 876 3415
\nFax 703 876 3550
\npwylie@generaldynamics.com<\/p>\n General Dynamics Private Information<\/p>\n \n<\/p>\n
\n <\/h5>\n<\/p>\nPage 2
\nFebruary 13, 2001<\/p>\n In the event you are involuntarily terminated, other than for cause,
\nduring the first three years of your employment, your salary and benefits
\nwould continue through that period.<\/p>\n This offer of employment is contingent upon filling out the application
\nform previously transmitted to you as well as successful completion of a
\npre-employment drug screening.<\/p>\n Also, a presumptive condition for employment is that your bonus for
\nperformance year 2000 is paid by your current employer and that the
\nnon-vested options and restricted shares indeed are forfeited.<\/p>\n As a corporate officer, you will be offered the Corporate Office benefits
\nprograms (i.e., health insurance, disability insurance, etc.). Henry
\nEickelberg (703-876-3409) and Bob Stewart (703-876-3408) will enroll you
\nin these programs upon your first day of work. The perquisite program for
\ncorporate officers has previously been transmitted to you. If you have
\nany questions, please call me.<\/p>\n Please acknowledge your acceptance or rejection of this offer by
\ncompleting the Acceptance\/Rejection enclosure and returning it to me by 2
\nMarch 2001. If you accept the offer, please complete and return the
\napplication form also.<\/p>\n We at General Dynamics are looking forward to a positive response from
\nyou.<\/p>\n Sincerely,<\/p>\n \/s\/ T.R. Augustsson<\/p>\n for W.P. Wylie<\/p>\n Enclosures<\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7614],"corporate_contracts_industries":[9475],"corporate_contracts_types":[9539,9544],"class_list":["post-39176","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-general-dynamics-corp","corporate_contracts_industries-aerospace__ships","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/39176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=39176"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39176"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39176"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} |