{"id":39515,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/employment-agreement-raytheon-co-and-edward-s-pliner.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-raytheon-co-and-edward-s-pliner","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-raytheon-co-and-edward-s-pliner.html","title":{"rendered":"Employment Agreement &#8211; Raytheon Co. and Edward S. Pliner"},"content":{"rendered":"<pre>March 8, 2000\n\n\n\nMr. Edward S. Pliner\n\nDear Edward:\n\nIt is my sincere pleasure to extend to you an offer for the position of Vice\nPresident, Controller reporting to me. Pending Raytheon Board of Directors\napproval, you will be elected a Vice President of the Raytheon Company. The\noffer, subject to the approval of the Management Development and Compensation\nCommittee of the Board of Directors, has an annual base salary of $325,000 and\nconsists of the following additional elements:\n\n     .    You will be eligible for the Results Based Incentive Program with a\n          targeted incentive of 50% of base salary.\n\n     .    You will be authorized 25,000 shares of Raytheon stock options. These\n          options will vest at one-third each year, over 3 years.\n\n     .    You will be eligible to participate in Raytheon's Long Term\n          Achievement Program (LTAP) and will be granted stock options\n          equivalent to a present value of 50% of your current base salary. See\n          attached compensation program description sheet for LTAP explanation.\n          Participation in this plan is subject to annual CEO review.\n\n     .    An automobile allowance of $14,000.\n\n     .    Financial planning assistance: $10,000 first year and $7,500\n          thereafter.\n\n     .    Eligible for Executive Life insurance of 5X your annual base salary\n          including basic life.\n\n     .    Excess liability coverage of $5,000,000.\n\n     .    Deferred compensation eligibility.\n\n     .    First class domestic air travel.\n\n     .    Twenty (20) days per year of Paid Time Off.\n\nWith respect to your pension, at the time of your retirement we will provide a\npension equal to at least 40% of the average of the highest five out of the last\nten years cash compensation (base and bonus), offset by social security or any\nother pension payments from your previous employers. In our pension\ncalculations, we will include service from your prior employers.\n\nPlease correct PTO to reflect the above stated 20 days.\n\n\n---------------------------------\nKeith Peden  Vice President Human Resources\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8652],"corporate_contracts_industries":[9476],"corporate_contracts_types":[9539,9544],"class_list":["post-39515","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-raytheon-co","corporate_contracts_industries-aerospace__space","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\/39515","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=39515"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39515"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39515"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}