exv10w7






EXHIBIT 10.7









 





SUPPLEMENTAL RETIREMENT PLAN

FOR TEXTRON KEY EXECUTIVES




 






As Amended and Restated

Effective January 1, 2009




 





 









 





Supplemental Retirement Plan 

for Textron Key Executives




As Amended and Restated

Effective January 1, 2009




Table of Contents




	 	 	 	 	 
	Introduction
	 	 	1	 
	 
	 	 	 	 
	Article I—Definitions
	 	 	2	 
	1.01 Average Compensation
	 	 	2	 
	1.02 Beneficiary
	 	 	2	 
	1.03 Benefits Committee
	 	 	2	 
	1.04 Board
	 	 	2	 
	1.05 Change in Control
	 	 	2	 
	1.05 Compensation
	 	 	3	 
	1.07 IRC
	 	 	4	 
	1.08 Key Executive
	 	 	4	 
	1.09 Normal Form of Benefit
	 	 	4	 
	1.10 Participant
	 	 	4	 
	1.11 Pension Plan
	 	 	4	 
	1.12 Plan
	 	 	5	 
	1.13 Separation From Service
	 	 	5	 
	1.14 Surviving Spouse
	 	 	5	 
	1.15 Textron
	 	 	5	 
	1.16 Textron Company
	 	 	5	 
	1.17 Total Disability
	 	 	5	 
	 
	 	 	 	 
	Article II—Benefit
	 	 	5	 
	2.01 Target Benefit
	 	 	5	 
	2.02 Reductions in Target Benefit
	 	 	5	 
	2.03 Early Retirement Factors
	 	 	6	 
	2.04 Payment of Benefits
	 	 	7	 
	2.05 Pre-Pension Surviving Spouse Annuity
	 	 	9	 
	2.06 Administrative Adjustments in Payment Date
	 	 	9	 
	2.07 Distribution Upon Change in Control
	 	 	9	 
	 
	 	 	 	 
	Article III—Unfunded Plan
	 	 	10	 
	3.01 No Plan Assets
	 	 	10	 
	3.02 Top-Hat Plan Status
	 	 	10	 
	3.02 No Contributions
	 	 	10	 






			
	 	 	 
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	 	Table of Contents

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	Article IV—Plan Administration
	 	 	10	 
	4.01 Plan Administrator’s Powers
	 	 	10	 
	4.02 Tax Withholding
	 	 	11	 
	4.03 Use of Third Parties to Assist with Plan Administration
	 	 	11	 
	4.04 Proof of Right to Receive Benefits
	 	 	11	 
	4.05 Claims Procedure
	 	 	11	 
	4.06 Enforcement Following a Change in Control
	 	 	13	 
	 
	 	 	 	 
	Article V—Amendment and Termination
	 	 	13	 
	5.01 Amendment
	 	 	13	 
	5.02 Termination
	 	 	13	 
	5.03 Distributions Upon Plan Termination
	 	 	14	 
	 
	 	 	 	 
	Article VI—Miscellaneous
	 	 	14	 
	6.01 Use of Masculine or Feminine Pronouns
	 	 	14	 
	6.02 Transferability of Plan Benefits
	 	 	14	 
	6.03 Section 409A Compliance
	 	 	15	 
	6.04 Controlling State Law
	 	 	15	 
	6.05 No Right to Employment
	 	 	15	 
	6.06 Additional Conditions Imposed
	 	 	15	 






			
	 	 	 
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Supplemental Retirement Plan

for Textron Key Executives




As Amended and Restated

Effective January 1, 2009




Introduction



The Supplemental Retirement Plan for Textron Key Executives (the “Plan”) is an unfunded,
nonqualified deferred compensation arrangement. The Plan provides supplemental retirement benefits
for designated Key Executives of Textron and its affiliates.



Appendix A of the Plan sets forth the provisions of the Plan as in effect on October 3, 2004, when
IRC Section 409A was enacted as part of the American Jobs Creation Act of 2004. Supplemental
retirement benefits that were earned and vested (within the meaning of IRC Section 409A) before
January 1, 2005, and any subsequent increase that is permitted to be included in these amounts
under IRC Section 409A, are calculated and paid solely as provided in Appendix A, and are not
subject to any other provisions of the Supplemental Retirement Plan for Textron Key Executives.



Supplemental retirement benefits that were earned or vested after 2004 and before January 1, 2008,
are subject to the provisions of IRC Section 409A. These supplemental retirement benefits are paid
exclusively as provided in the Supplemental Retirement Plan for Textron Key Executives (not
including any appendix to the Plan). Although the provisions of the Supplemental Retirement Plan
for Textron Key Executives generally are effective as of January 1, 2009, the provisions that
govern the distribution of benefits earned or vested after 2004 under the Plan are effective as of
January 1, 2005, and the amended definition of “Compensation” is effective as of January 1, 2007.




			
	 	 	 
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Article I—Definitions



Whenever used in this document, the following terms shall have the meanings set forth in this
Article unless a contrary or different meaning is expressly provided:





	1.01	 	“Average Compensation” means the average of a Participant’s Compensation during the five
consecutive years in which the Compensation is highest, determined using the same averaging
methodology that is used to determine “Compensation Base” in Addendum A of the Textron Master
Retirement Plan.
	 
	1.02	 	“Beneficiary” means the person who is entitled under this Plan to receive a payment that
would have been made to a Participant or Surviving Spouse during his or her lifetime, if the
Participant or Surviving Spouse dies before the payment is made.
	 
	1.03	 	“Benefits Committee” means the Employee Benefits Committee of Textron.
	 
	1.04	 	“Board” means the Board of Directors of Textron.
	 
	1.05	 	“Change in Control” means, for any Participant who was not an employee of a Textron Company
on December 31, 2007:






	 	(a)	 	any “person” or “group” (within the meaning of Sections 13(d) and 14(d)(2) of
the Securities Exchange Act of 1934, as amended (the “Act”) and of IRC Section 409A)
other than Textron, any trustee or other fiduciary holding Textron common stock under
an employee benefit plan of Textron or a related company, or any corporation which is
owned, directly or indirectly, by the stockholders of Textron in substantially similar
proportions as their ownership of Textron common stock






	 	(1)	 	becomes (other than by acquisition from Textron or a related
company) the “beneficial owner” (as defined in Rule 13d-3 under the Act) of
stock of Textron that, together with other stock held by such person or group,
possesses more than 50% of the combined voting power of Textron’s
then-outstanding voting stock, or
	 
	 	(2)	 	acquires (or has acquired during the 12-month period ending
on the date of the most recent acquisition by such person) beneficial
ownership of stock of Textron possessing more than 30% of the combined
voting power of Textron’s then-outstanding stock, or





			
	 	 	 
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	 	(3)	 	acquires (or has acquired during the 12-month period ending
on the date of the most recent acquisition by such person) all or
substantially all of the total gross fair market value of all of the assets of
Textron immediately prior to such acquisition or acquisitions (where gross
fair market value is determined without regard to any associated liabilities);
or






	 	(b)	 	a merger or consolidation of Textron with any other corporation occurs, other
than a merger or consolidation that would result in the voting securities of Textron
outstanding immediately before the merger or consolidation continuing to represent
(either by remaining outstanding or by being converted into voting securities of the
surviving entity) 50% or more of the combined voting power of the voting securities of
Textron or such surviving entity outstanding immediately after such merger or
consolidation, or
	 
	 	(c)	 	during any 12-month period, a majority of the members of the Board is
replaced by directors whose appointment or election is not endorsed by a majority of
the members of the Board of Directors before the date of their appointment or
election.






Each of the events described above will be treated as a “Change in Control” only to the
extent that it is a change in ownership, change in effective control, or change in the
ownership of a substantial portion of Textron’s assets within the meaning of IRC Section
409A.




For any Participant who was an employee of a Textron Company on December 31, 2007, the
definition set forth above in this Section 1.05 shall be used to determine whether an event
is a “Change in Control” to the extent that the event would alter the time or form of
payment of the Participant’s benefit. To the extent that the event would cause any change
in the Participant’s rights under the Plan that does not affect the status of the
Participant’s benefit under IRC Section 409A (including, but not limited to, the
enhancement or accelerated vesting of the Participant’s benefit, or restrictions on
amendments to the Plan), the definition set forth in Section 5.04 of Appendix A shall be
used to determine whether the event is a “Change in Control.”




	1.06	 	“Compensation” means a Participant’s annual compensation determined as follows:






	 	(a)	 	For years after 2006, Compensation means eligible annual compensation as
defined under the current benefit formula in the tax-qualified Pension
Plan that covers the Participant, without regard to the statutory limits in IRC
Section 401(a)(17) and IRC Section 415, subject to the modifications described in
this Section 1.06(a). For any executive who was first





			
	 	 	 
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	 	 	 	awarded performance share
units before October 27, 1999, Compensation shall include payments made under
performance share units (regardless of when the units are awarded); but
Compensation shall not include amounts attributable to performance share units for
any executive who was first awarded performance share units after October 26, 1999.
Compensation shall include a Participant’s elective deferrals under the Deferred
Income Plan for Textron Key Executives, the Textron Deferred Income Plan for
Executives, and the Deferred Income Plan for Textron Executives (and, if
applicable, shall also include the automatic deferral of a Participant’s
performance share units or annual incentive bonus exceeding 100% of the target
bonus), but only to the extent that these amounts would have been included in
Compensation if they had not been deferred.
	 
	 	(b)	 	For any individual who participated in the Plan before 2007, Compensation for
each year before 2007 shall be determined under Section 1.04 of Appendix A.
	 
	 	(c)	 	If a year before 2007 is included in the Participant’s Compensation Base
under the Plan, and the Participant did not participate in the Plan before 2007,
Compensation for that year shall be determined as provided in Section 1.06(a), above.






	1.07	 	“IRC” means the Internal Revenue Code of 1986, as amended. References to any section of the
Internal Revenue Code shall include any final regulations interpreting that section.
	 
	1.08	 	“Key Executive” means an employee of a Textron Company who has been and continues to be
designated as a Key Executive by Textron’s Chief Executive Officer and Chief Human Resources
Officer.
	 
	1.09	 	“Normal Form of Benefit” means (a) a single life annuity for the life of the Participant, in
the case of a Key Executive who became a Participant on or after July 23, 1998, and (b) a
joint and 50% survivor annuity, in the case of a Key Executive who became a Participant before
July 23, 1998.
	 
	1.10	 	“Participant” means a Key Executive selected by Textron’s Chief Executive Officer (or, in the
case of the Chief Executive Officer, selected by the Organization and Compensation Committee
of the Board) for participation in this Plan.
	 
	1.11	 	“Pension Plan” means a tax-qualified or nonqualified defined benefit plan maintained by a
Textron Company (including any predecessor plans, but excluding this Plan) in which the Key
Executive has participated. “Pension Plan” includes, but is not limited to, the Bell
Helicopter Textron Retirement Plan (part of the Bell Helicopter Textron Master Retirement
Plan), the Textron Pension Plan





			
	 	 	 
	Supplemental Retirement Plan for Textron Key Executives 

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	 	Page 4






 









 







	 	 	(Addendum A to the Textron Master Retirement Plan), and the
Textron Spillover Pension Plan.
	 
	1.12	 	“Plan” means this Supplemental Retirement Plan for Textron Key Executives, as amended and
restated from time to time.
	 
	1.13	 	“Separation From Service” means a Participant’s termination of employment with all Textron
Companies, other than by reason of death or Total Disability, that qualifies as a “separation
from service” for purposes of IRC Section 409A.
	 
	1.14	 	“Surviving Spouse” means the person to whom a Participant is married (in a marriage
recognized under federal law) on the day of the Participant’s death while active or on the
dates of the Participant’s retirement and death.
	 
	1.15	 	“Textron” means Textron Inc., a Delaware corporation, and any successor of Textron Inc.
	 
	1.16	 	“Textron Company” means Textron or any company controlled by or under common control with
Textron within the meaning of IRC Section 414(b) or (c).
	 
	1.17	 	“Total Disability” means physical or mental incapacity of a Participant who is employed by a
Textron Company on the disability date, if the incapacity (a) enables the Participant to
receive disability benefits under the Federal Social Security Act, and (b) also qualifies as a
“disability” for purposes of IRC Section 409A(a)(2)(C).





Article II—Benefit





	2.01	 	Target Benefit. Subject to Sections 2.02 and 2.03, the maximum benefit provided to a
Participant who qualifies for benefits under this Plan is an annuity commencing upon
Separation From Service or Total Disability equal to 50% of Average Compensation (the “Target
Benefit”) less the offsets and adjusted by the Early Retirement Factors as set out below.
	 
	2.02	 	Reductions in Target Benefit.






	 	(a)	 	Prior Employers’ Plans. The Target Benefit shall be reduced by the
monthly amount of any tax-qualified or nonqualified defined benefit payable to the
Participant as a single life annuity at age 65 from a plan or arrangement sponsored by
a prior employer other than a Textron Company. The monthly benefit payable under a
prior employer plan shall be converted, if necessary, to a single life annuity
commencing at age 65, using the actuarial assumptions or factors specified in the
prior employer plan (or, if no conversion basis is available from the prior employer,
using comparable actuarial assumptions or factors from Addendum A of the





			
	 	 	 
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	 	 	 	Textron
Master Retirement Plan). It shall be the obligation of each Participant to disclose
to Textron, before the Participant’s Separation From Service, any amounts that might
be used under this section to reduce the benefits provided by this Plan. Such
disclosure shall include information on annuity payments and lump-sum cash payments
from other plans.
	 
	 	(b)	 	Early Retirement Factors. The net Target Benefit after reduction for
benefits provided under any prior employer plans shall then be multiplied by the Early
Retirement Factor as set out in Section 2.03 below.
	 
	 	(c)	 	Pension Plans. The product of the net Target Benefit times the Early
Retirement Factor shall then be reduced by any and all amounts payable to the
Participant upon Separation From Service or Total Disability under any qualified or
nonqualified Pension Plan. For purposes of the preceding sentence, the calculation
shall be performed assuming that all benefits under this Plan and under any qualified
or nonqualified Pension Plan commence on the first day of the month following the
Participant’s Separation From Service or Total Disability, even if the commencement of
the benefit is delayed by the Participant’s election or by the terms of the plan. The
reduction shall be based on a benefit under each Pension Plan that is payable in the
same form as the Participant’s Normal Form of benefit under this Plan; and the benefit
under each Pension Plan shall be converted to that form and, if applicable, reduced
for early commencement based on the actuarial assumptions and factors used in the
Pension Plan. In the case of any Pension Plan that is part of the Textron Retirement
Program, which is a tax-qualified floor-offset arrangement, the reduction in the net
Target Benefit under this Plan shall be determined without taking into account any
offset in the Pension Plan benefit for the value of the Participant’s account under
the Textron Inc. Retirement Account Plan.






	2.03	 	Early Retirement Factors. The Participant’s benefits under this Plan shall be based
on the Participant’s age at Separation From Service, Total Disability, or death, in accordance
with the following schedule:





	 	 	 
	 	 	Early Retirement
	Age at Retirement	 	Factors
	65
	 	100%
	64
	 	90%
	63
	 	80%
	62
	 	70%
	61
	 	60%
	60
	 	50%
	Less Than 60
	 	0%






			
	 	 	 
	Supplemental Retirement Plan for Textron Key Executives 

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	 	 	The Organization and Compensation Committee of the Board shall, in its sole discretion,
have the authority to provide a Participant with an enhanced benefit pursuant to a separate
written agreement.
	 
	2.04	 	Payment of Benefits.






	 	(a)	 	Benefit Commencement Date. Any benefit to which a Participant is
entitled under the Plan shall be paid in the Normal Form of Benefit, or in an
actuarially equivalent life annuity elected by the Participant pursuant to subsection
(e), below. The Participant’s benefit shall be calculated as if it commenced on the
first day of the month following the Participant’s Separation From Service or Total
Disability.
	 
	 	(b)	 	Six-Month Delay. In the case of a benefit payable upon Separation
From Service, the benefit shall commence on the first day of the seventh month
following the Participant’s Separation From Service, and any monthly payments that
would have been due during the intervening six months shall be paid in a lump sum,
without interest, on the first day of the seventh month after the Participant’s
Separation From Service. The Participant may designate a Beneficiary to receive the
payments for the months before the Participant’s death in the event of the
Participant’s death after Separation From Service and before the expiration of the
six-month delay.
	 
	 	(c)	 	Disability Benefits. In the case of a benefit payable upon Total
Disability, the benefit shall commence on the first day of the month following the
later of the Participant’s Total Disability or attainment of age 65.
	 
	 	(d)	 	Form of Payment. Any form of benefit payable other than the Normal
Form of Benefit shall be the actuarial equivalent of the Normal Form of Benefit,
calculated using the actuarial assumptions and factors in the Textron Master
Retirement Plan. For any individual who becomes a
Participant after July 23, 1998, benefit payments under the Plan will be reduced if
the Participant elects a 50%, 75%, or 100% joint and survivor benefit or joint and
surviving spouse benefit. The joint and survivor factors are the same factors
provided by Addendum A of the Textron Master Retirement Plan.
	 
	 	(e)	 	Payment Election. A Participant who wishes to elect a form of
payment other than the Normal Form of Benefit must complete and return a written
distribution election form acceptable to the Benefits Committee before the
Participant’s Separation From Service or Total Disability. Subject to the





			
	 	 	 
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Amended and Restated January 1, 2009
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	 	 	 	spousal
consent requirement in subsection (f), below, the Participant may elect any
actuarially equivalent life annuity (within the meaning of IRC Section 409A) that is
available under Addendum A of the Textron Master Retirement Plan at the Participant’s
benefit commencement date under this Plan, regardless of whether the Participant
participates in Addendum A or elects the same form of payment under Addendum A.
	 
	 	(f)	 	Spousal Consent. For any individual who becomes a Participant after
July 23, 1998, if the Participant is married when he or she makes a distribution
election (including a change in a prior distribution election), the Participant must
have the written consent of his or her spouse in order to elect any form of payment
other than a joint and 50% surviving spouse annuity. If the Participant marries or
re-marries after the date of the distribution election, the Participant shall
automatically receive an actuarially equivalent joint and 50% surviving spouse annuity
unless his or her current spouse consents in writing to a different form of
distribution.
	 
	 	(g)	 	Spillover Pension Plan.






	 	(i)	 	If a Participant in this Plan is entitled to receive a
retirement benefit or pre-pension surviving spouse annuity under the Textron
Spillover Pension Plan or any other nonqualified Pension Plan that would be
subtracted from the Participant’s benefit under Section 2.02(c) of this Plan,
the amount of the benefit shall be calculated under the Textron Spillover
Pension Plan (or other nonqualified Pension Plan), but the benefit shall be
paid exclusively at the time and in the form provided under this Plan, as if
the other plan’s benefit were part of the Participant’s benefit under this
Plan. The preceding sentence shall apply even if the Participant is not
otherwise eligible to receive any retirement benefit or pre-pension surviving
spouse annuity under this Plan (for example, because he retired before his
benefit under this Plan vested or because his benefit under this Plan is fully
offset by his Pension Plan benefits).
	 
	 	(ii)	 	If a Participant’s Separation From Service, Total Disability,
or death occurs before the earliest date on which he would be entitled to a
benefit under this Plan, his retirement benefit under the Textron Spillover
Pension Plan or other nonqualified Pension Plan shall commence on the
Participant’s earliest retirement date under this Plan, as if he had retired
on that date. In the case of a Separation From Service, the retirement
benefit under the Textron Spillover Pension Plan or other nonqualified Pension
Plan shall be subject to the six-month delay in subsection (b). The
retirement benefit under the Textron Spillover Pension Plan or other
nonqualified Pension Plan shall be actuarially adjusted, using the





			
	 	 	 
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	 	 	 	actuarial
assumptions and factors in the other plan, to reflect the actual commencement
date under this Plan.
	 
	 	(iii)	 	If a Participant is entitled to a death benefit or other
benefit under the Textron Spillover Pension Plan or other nonqualified Pension
Plan that is not provided under this Plan and that would not in any
circumstance be subtracted from the Participant’s benefit under Section
2.02(c) of this Plan, the benefit shall be paid as provided in the Textron
Spillover Pension Plan or other nonqualified Pension Plan.






	2.05	 	Pre-Pension Surviving Spouse Annuity. If a Participant dies after age 60 and prior
to benefit commencement under this Plan, the Participant’s Surviving Spouse will receive an
annuity equal to the amount the spouse would have received if the Participant had requested a
joint and 50% surviving spouse annuity and had retired the day before he died. The
pre-pension surviving spouse annuity payable under this section shall commence on the first
business day of the first month that begins at least 90 days after the Participant’s death.
	 
	2.06	 	Administrative Adjustments in Payment Date. A payment is treated as being made on
the date when it is due under the Plan if the payment is made on the due date specified by the
Plan, or on a later date that is either (a) in the same calendar year (for a payment whose
specified due date is on or before September 30), or (b) by the 15th day of the third calendar
month following the date specified by the Plan (for a payment whose specified due date is on
or after October 1). A payment also is treated as being made on the date when it is due under
the Plan if the payment is made not more than 30 days before the due date specified by the
Plan, provided that the payment is not made earlier than six months after the Participant’s
Separation From Service. A Participant may not, directly or indirectly, designate the taxable
year of a payment made in reliance on the administrative rules in this Section 2.06.
	 
	2.07	 	Distribution Upon Change in Control.






	 	(a)	 	Benefit Enhancement. If the Participant’s Separation From Service,
Total Disability, or death occurs after a Change in Control, the Participant shall, in
lieu of the benefit payable under the preceding sections of this Article II, receive a
benefit equal to the actuarial present value at Separation From Service, Total
Disability, or death of the benefit the Participant would have received had the
Participant terminated employment at age 65, based upon the Participant’s Average
Compensation as of the date of Separation From Service, Total Disability, or death.
The present value shall be determined using the 1994 Group Annuity Reserving Table
(unisex) based on a blend of 50% of the male mortality rates and 50% of the female
mortality rates and an interest rate of 7%. Any pre-pension surviving





			
	 	 	 
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	 	 	 	spouse annuity
or pre-pension survivor annuity payable upon the Participant’s death after a Change in
Control shall be based on the Participant’s enhanced benefit calculated under this
subsection.
	 
	 	(b)	 	Distribution. If the Participant’s Separation From Service, Total
Disability, or death occurs within 24 months after the Change in Control, and if the
Change in Control also qualifies as a “change in control” under IRC Section 409A, the
enhanced benefit shall be paid in a lump sum. If the Participant’s Separation From
Service, Total Disability, or death occurs more than 24 months after the Change in
Control, or if the Change in Control does not qualify as a “change in control” under
IRC Section 409A, the enhanced benefit shall be paid in the Normal Form or as an
actuarially equivalent life annuity elected by the Participant. In either case, the
enhanced benefit shall commence (or, in the case of a lump sum, shall be paid) on the
applicable benefit commencement date specified in Section 2.04 or Section 2.05.





Article III—Unfunded Plan





	3.01	 	No Plan Assets. Benefits to be provided under this Plan are unfunded obligations of
Textron. Nothing contained in this Plan shall require Textron to segregate any monies from
its general funds, to create any trust, to make any special deposits, or to purchase any
policies of insurance with respect to such obligations. If Textron elects to purchase
individual policies of insurance on one or more of the Participants to help finance its
obligations under this Plan, such individual policies and the proceeds therefrom shall at all
times remain the sole property of Textron and neither the Participants whose lives are insured
nor their Surviving Spouses or Beneficiaries shall have any ownership rights in such policies
of insurance.
	 
	3.02	 	Top-Hat Plan Status. The Plan is maintained primarily for the purpose of providing
deferred compensation for a select group of management or highly compensated employees within
the meaning of Sections 201(2), 301(a)(3), and 401(a)(1) of the Employee Retirement Income
Security Act of 1974, as amended (“ERISA”).
	 
	3.03	 	No Contributions. No Participant shall be required or permitted to make
contributions to this Plan.





Article IV—Plan Administration





	4.01	 	Plan Administrator’s Powers. Textron shall have all such powers as may be necessary
to carry out the provisions hereof. Textron may from time to time establish rules for the
administration of this Plan and the transaction of its business. Subject to Section 4.05, any
actions by Textron shall be final,





			
	 	 	 
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	 	 	conclusive and binding on each Participant and all persons
claiming by, through or under any Participant. Textron (and any person or persons to whom it
delegates any of its authority as plan administrator) shall have discretionary authority to
determine eligibility for Plan benefits, to construe the terms of the Plan, and to determine
all questions arising in the administration of the Plan. The Organization and Compensation
Committee of the Board shall render all decisions under this Plan (including participation,
Plan benefits, and benefit distributions) affecting Textron’s Chief Executive Officer.
	 
	4.02	 	Tax Withholding. Textron may withhold from benefits paid under this Plan any taxes
or other amounts required by law to be withheld. Textron may deduct from the undistributed
portion of a Participant’s benefit any employment tax that Textron reasonably determines to be
due with respect to the benefit under the Federal Insurance Contributions Act (FICA), and an
amount sufficient to pay the income tax withholding related to such FICA tax. Alternatively,
Textron may require the Participant or Beneficiary to remit to Textron or its designee an
amount sufficient to satisfy any applicable federal, state, and local income and employment
tax with respect to the Participant’s benefit. The Participant or Beneficiary shall remain
responsible at all times for paying any federal, state, or local income or employment tax with
respect to any benefit under this Plan. In no event shall Textron or any employee or agent of
Textron be liable for any interest or penalty that a Participant or Beneficiary incurs by
failing to make timely payments of tax.
	 
	4.03	 	Use of Third Parties to Assist with Plan Administration. Textron may employ or
engage such agents, accountants, actuaries, counsel, other experts and other persons as it
deems necessary or desirable in connection with the interpretation and administration of this
Plan. Textron and its committees, officers, directors
and employees shall not be liable for any action taken, suffered or omitted by them in good
faith in reliance upon the advice or opinion of any such agent, accountant, actuary,
counsel or other expert. All action so taken, suffered or omitted shall be conclusive upon
each of them and upon all other persons interested in this Plan.
	 
	4.04	 	Proof of Right to Receive Benefits. Textron may require proof of death or Total
Disability of any Participant, former Participant, Surviving Spouse, or Beneficiary and
evidence of the right of any person to receive any Plan benefit.
	 
	4.05	 	Claims Procedure. A Participant, Surviving Spouse, or Beneficiary who believes that
he is being denied a benefit to which he is entitled under the Plan (referred to in this
Section 4.05 as a “Claimant”) may file a written request with the Benefits Committee setting
forth the claim. The Benefits Committee (or the Organization and Compensation Committee of
the Board, in the case of a claim involving





			
	 	 	 
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	 	Page 11






 









 







Textron’s Chief Executive Officer) shall consider
and resolve the claim as set forth below.




	 	(a)	 	Time for Response. Upon receipt of a claim, the Committee shall
advise the Claimant that a response will be forthcoming within 90 days. The Committee
may, however, extend the response period for up to an additional 90 days for
reasonable cause, and shall notify the Claimant of the reason for the extension and
the expected response date. The Committee shall respond to the claim within the
specified period.
	 
	 	(b)	 	Denial. If the claim is denied in whole or part, the Committee shall
provide the Claimant with a written decision, using language calculated to be
understood by the Claimant, setting forth (1) the specific reason or reasons for such
denial; (2) the specific reference to relevant provisions of this Plan on which such
denial is based; (3) a description of any additional material or information necessary
for the Claimant to perfect his claim and an explanation why such material or such
information is necessary; (4) appropriate information as to the steps to be taken if
the Claimant wishes to submit the claim for review; (5) the time limits for requesting
a review of the claim; and (6) the Claimant’s right to bring an action for benefits
under Section 502(a) of ERISA.
	 
	 	(c)	 	Request for Review. Within 60 days after the Claimant’s receipt of
the written decision denying the claim in whole or in part, the Claimant may request
in writing that the Committee review the determination. The Claimant or his duly
authorized representative may, but need not, review the relevant documents and submit
issues and comment in writing for consideration by the Committee. If the Claimant
does not request a
review of the initial determination within such 60-day period, the Claimant shall
be barred from challenging the determination.
	 
	 	(d)	 	Review of Initial Determination. Within 60 days after the Committee
receives a request for review, it will review the initial determination. If special
circumstances require that the 60-day time period be extended, the Committee will so
notify the Claimant and will render the decision as soon as possible, but no later
than 120 days after receipt of the request for review.
	 
	 	(e)	 	Decision on Review. All decisions on review shall be final and
binding with respect to all concerned parties. The decision on review shall set
forth, in a manner calculated to be understood by the Claimant, (1) the specific
reasons for the decision, shall including references to the relevant Plan provisions
upon which the decision is based; (2) the Claimant’s right to receive, upon request
and free of charge, reasonable access to and copies of all documents, records, and
other information, relevant to his





			
	 	 	 
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	 	Page 12






 









 







	 	 	 	benefits; and (3) the Claimant’s right to bring a
civil action under Section 502(a) of ERISA.






	4.06	 	Enforcement Following a Change in Control. If, after a Change in Control, any claim
is made or any litigation is brought by a Participant, Surviving Spouse, or Beneficiary to
enforce or interpret any provision contained in this Plan, Textron and the “person” or “group”
described in Section 1.05 shall be liable, jointly and severally, to reimburse the
Participant, Surviving Spouse, or Beneficiary for the Participant’s, Surviving Spouse’s, or
Beneficiary’s reasonable attorney’s fees and costs incurred during the Participant’s,
Surviving Spouse’s, or Beneficiary’s lifetime in pursuing any such claim or litigation, and to
pay prejudgment interest at the Prime Rate as quoted in the Money Rates section of The Wall
Street Journal on any money award or judgment obtained by the Participant, Surviving Spouse,
or Beneficiary, payable at the same time as the underlying award or judgment. Any
reimbursement pursuant to the preceding sentence shall be paid to the Participant no earlier
than six months after the Participant’s Separation From Service, and shall be paid to the
Participant, Surviving Spouse, or Beneficiary no later than the end of the calendar year
following the year in which the expense was incurred. The reimbursement shall not be subject
to liquidation or exchange for another benefit, and the amount of reimbursable expense
incurred in one year shall not affect the amount of reimbursement available in another year.





Article V—Amendment and Termination





	5.01	 	Amendment. Subject to subsections (a) and (b), below, the Board or its designee
shall have the right to amend, modify, or suspend this Plan at any time by written resolution
or other formal action reflected in writing.






	 	(a)	 	No amendment, modification, or suspension shall reduce a Participant’s
accrued benefit as determined under Article II immediately before the effective date
of the amendment, modification, or suspension.
	 
	 	(b)	 	Following a Change in Control, no amendment, modification, or suspension
shall be made that directly or indirectly reduces any right or benefit provided upon a
Change in Control.






	 	 	An amendment to a Pension Plan that affects the benefits provided under this Plan shall not
be deemed to be an amendment to this Plan, and shall not be subject to the restrictions in
subsections (a) and (b), provided that the amendment to the Pension Plan applies to a broad
cross-section of participants in the Pension Plan, and not only or primarily to
Participants in this Plan.
	 
	5.02	 	Termination. The Board or its designee shall have the right to terminate this Plan
at any time before a Change in Control by written resolution. No termination of





			
	 	 	 
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	 	Page 13






 









 







	 	 	the Plan
shall reduce a Participant’s accrued benefit as determined under Article II immediately before
the effective date of the termination.
	 
	5.03	 	Distributions Upon Plan Termination. Upon the termination of the Plan by the Board
with respect to all Participants, and termination of all arrangements sponsored by any Textron
Company that would be aggregated with the Plan under IRC Section 409A, Textron shall have the
right, in its sole discretion, and notwithstanding any elections made by the Participant, to
pay the Participant’s vested benefit in a lump sum, to the extent permitted under IRC Section
409A. All payments that may be made pursuant to this Section 5.03 shall be made no earlier
than the thirteenth month and no later than the twenty-fourth month after the termination of
the Plan. Textron may not accelerate payments pursuant to this Section 5.03 if the
termination of the Plan is proximate to a downturn in Textron’s financial health. If Textron
exercises its discretion to accelerate payments under this Section 5.03, it shall not adopt
any new arrangement that would have been aggregated with the Plan under IRC Section 409A
within three years following the date of the Plan’s termination.





Article VI—Miscellaneous





	6.01	 	Use of Masculine or Feminine Pronouns. Unless a contrary or different meaning is
expressly provided, each use in this Plan of the masculine or feminine gender shall include
the other and each use of the singular number shall include the plural.
	 
	6.02	 	Transferability of Plan Benefits.






	 	(a)	 	Textron shall recognize the right of an alternate payee named in a domestic
relations order to receive all or a portion of a Participant’s benefit under the Plan,
provided that (1) the domestic relations order would be a “qualified domestic
relations order” within the meaning of IRC Section 414(p) of the Code if IRC Section
414(p) were applicable to the Plan (except that the order may require payment to be
made to the alternate payee before the Participant’s earliest retirement age), (2) the
domestic relations order does not purport to give the alternate payee any right to
assets of any Textron Company, and (3) the domestic relations order does not purport
to allow the alternate payee to defer payments beyond the date when the benefits
assigned to the alternate payee would have been paid to the Participant.
	 
	 	(b)	 	Except as provided in subsection (a) concerning domestic relations orders, no
amount payable at any time under this Plan shall be subject in any manner to
alienation, sale, transfer, assignment, pledge or encumbrance of any kind to the
extent that the assignment or other action would cause the amount to be included in
the Participant’s gross income or treated as a





			
	 	 	 
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	 	Page 14






 









 







	 	 	 	distribution for federal income tax
purposes. A Participant may, with the written approval of the Benefits Committee,
make an assignment of a benefit for estate planning or similar purposes if the
assignment does not cause the amount to be included in the Participant’s gross income
or treated as a distribution for federal income tax purposes. Any attempt to
alienate, sell, transfer, assign, pledge or otherwise encumber any such benefit,
whether presently or subsequently payable, shall be void unless so approved. Except
as required by law, no benefit payable under this Plan shall in any manner be subject
to garnishment, attachment, execution or other legal process, or be liable for or
subject to the debts or liability of any Participant, Surviving Spouse, or
Beneficiary.






	6.03	 	Section 409A Compliance. The Plan is intended to comply with IRC Section 409A and
should be interpreted accordingly. Any distribution election that would not comply with IRC
Section 409A is not effective. To the extent that a provision of this Plan does
not comply with IRC Section 409A, such provision shall be void and without effect. Textron
does not warrant that the Plan will comply with IRC Section 409A with respect to any
Participant or with respect to any payment, however. In no event shall any Textron
Company; any director, officer, or employee of a Textron Company (other than the
Participant); or any member of the Benefits Committee be liable for any additional tax,
interest, or penalty incurred by a Participant or Beneficiary as a result of the Plan’s
failure to satisfy the requirements of IRC Section 409A, or as a result of the Plan’s
failure to satisfy any other requirements of applicable tax laws.
	 
	6.04	 	Controlling State Law. This Plan shall be construed in accordance with the laws of
the State of Delaware.
	 
	6.05	 	No Right to Employment. Nothing contained in this Plan shall be construed as a
contract of employment between any Participant and any Textron Company, or to suggest or
create a right in any Participant of continued employment at any Textron Company.
	 
	6.06	 	Additional Conditions Imposed. Textron (through the Organization and Compensation
Committee of the Board), the Chief Executive Officer and the Chief Human Resources Officer,
and the Benefits Committee may impose such other lawful terms and conditions on participation
in this Plan as deemed desirable. The Chief Executive Officer, the Chief Human Resources
Officer, and members of the Benefits Committee may participate in this Plan.





			
	 	 	 
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	 	Page 15






 









 










 





SUPPLEMENTAL RETIREMENT PLAN

FOR TEXTRON KEY EXECUTIVES




 






APPENDIX A




 






Provisions of the

Supplemental Retirement Plan

for Textron Key Executives

(As in effect before January 1, 2008)




 






 









 





Supplemental Retirement Plan 

for Textron Key Executives

Appendix A — Prior Plan Provisions



Table of Contents





	 	 	 	 	 
	Introduction
	 	 	2	 
	 
	 	 	 	 
	Article I—Definitions
	 	 	3	 
	1.01 Beneficiary
	 	 	3	 
	1.02 Benefits Committee
	 	 	3	 
	1.03 Board
	 	 	3	 
	1.04 Compensation
	 	 	3	 
	1.05 Key Executive
	 	 	3	 
	1.06 Normal Form of Benefit
	 	 	3	 
	1.07 Participant
	 	 	3	 
	1.08 Pension Plan
	 	 	3	 
	1.09 Plan
	 	 	3	 
	1.10 Surviving Spouse
	 	 	4	 
	1.11 Textron
	 	 	4	 
	1.12 Textron Company
	 	 	4	 
	 
	 	 	 	 
	Article II—Benefit
	 	 	4	 
	 
	 	 	 	 
	Article III—Unfunded Plan
	 	 	5	 
	 
	 	 	 	 
	Article IV—Plan Administration
	 	 	6	 
	 
	 	 	 	 
	Article V—Miscellaneous
	 	 	7	 






			
	 	 	 
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	 	Table of Contents (Appendix A)

Page i






 









 





Supplemental Retirement Plan 

for Textron Key Executives

Appendix A — Prior Plan Provisions




Introduction



The Supplemental Retirement Plan for Textron Key Executives (the “Plan”) is an unfunded,
nonqualified deferred compensation arrangement. The Plan provides supplemental retirement benefits
for designated Key Executives of Textron and its affiliates. The Plan was amended and restated,
effective as of January 1, 2008, to comply with Section 409A of the Internal Revenue Code of 1986,
as amended (“IRC”).





			
	A.	 	Key Executive Protected Benefits

(Earned and Vested Before 2005)




The portion of Appendix A that follows this Introduction sets forth the provisions of the Plan as
in effect on October 3, 2004, when IRC Section 409A was enacted as part of the American Jobs
Creation Act of 2004. Key Executives’ supplemental retirement benefits that were earned and vested
(within the meaning of IRC Section 409A) before January 1, 2005, and any subsequent increase that
is permitted to be included in these amounts under IRC Section 409A, (“Key Executive Protected
Benefits”), are calculated and paid solely as provided in Appendix A, and are not subject to any
other provisions of the Supplemental Retirement Plan for Textron Key Executives.



The Key Executive Protected Benefits are not intended to be subject to IRC Section 409A. No
amendment to this Appendix A that would constitute a “material modification” for purposes of IRC
Section 409A shall be effective unless the amending instrument states that it is intended to
materially modify Appendix A and to cause the Key Executive Protected Benefits to become subject to
IRC Section 409A. Although the Key Executive Protected Benefits are not intended to be subject to
IRC Section 409A, no Textron Company (nor any director, officer, or other representative of a
Textron Company) shall be liable for any adverse tax consequence suffered by a Participant,
Surviving Spouse, or Beneficiary if a Key Executive Protected Benefit becomes subject to IRC
Section 409A.





			
	B.	 	Benefits Subject To Section 409A

(Earned or Vested From 2005 Through 2007)




Supplemental retirement benefits that were earned by Key Executives after 2004, and Supplemental
retirement benefits that became vested after 2004, are subject to the provisions of IRC Section
409A. To the extent that these benefits were earned under the Plan before January 1, 2008, the
benefits shall be calculated under the prior Plan provisions set forth in this Appendix A.
However, any benefits earned or vested under the Plan after 2004 shall be paid exclusively as
provided in the Supplemental Retirement




			
	 	 	 
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	 	Appendix A

Page 2






 









 





Plan for Textron Key Executives (not including this Appendix A), and shall not be subject to any
provision of Appendix A that relates to the payment or distribution of benefits. Although the
provisions of the Supplemental Retirement Plan for Textron Key Executives generally are effective
as of January 1, 2008, the provisions that govern the distribution of benefits earned or vested
after 2004 under the prior Plan provisions are effective as of January 1, 2005.




Article I—Definitions



Whenever used in this document, the following terms shall have the meanings set forth in this
Article unless a contrary or different meaning is expressly provided:





	1.01	 	“Beneficiary” means the person or persons entitled under this Plan to receive Plan benefits
after a Participant’s death.
	 
	1.02	 	“Benefits Committee” means the Employee Benefits Committee of Textron.
	 
	1.03	 	“Board” means the Board of Directors of Textron.
	 
	1.04	 	“Compensation” means base salary, accrued annual incentive compensation, performance units,
and performance share units, whether or not deferred under the Deferred Income Plan for
Textron Key Executives or Textron Deferred Income Plan for Executives. However, for any Key
Executive who is first awarded performance share units after October 26, 1999, performance
share units shall not be included in Compensation. Compensation does not include awards under
the Supplemental Bonus Plan for Textron Financial Corporation Executives or the Textron
Quality Management Plan. “Average Compensation” means the average of a Participant’s
Compensation during the five consecutive years in which the Compensation is highest.
	 
	1.05	 	“Key Executive” means an employee of a Textron Company who has been and continues to be
designated as a Key Executive by Textron’s Chief Executive Officer and Chief Human Resources
Officer.
	 
	1.06	 	“Normal Form of Benefit” means a life annuity unless the Participant was designated a
Participant in this Plan prior to July 23, 1998, in which case the Normal Form of Benefit
shall be a Joint and 50% Survivor annuity.
	 
	1.07	 	“Participant” means a Key Executive selected by Textron’s Chief Executive Officer for
participation in this Plan.
	 
	1.08	 	“Pension Plan” means the Bell Helicopter Textron Retirement Plan, the Textron Master
Retirement Plan, or an included plan.
	 
	1.09	 	“Plan” means this Restated Supplemental Retirement Plan for Textron Key Executives, as
amended and restated from time to time.





			
	 	 	 
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	 	Appendix A

Page 3






 









 







	1.10	 	“Surviving Spouse” means a Participant’s spouse who is married to the Participant on the day
of the Participant’s death while active or on the dates of the Participant’s retirement and
death.
	 
	1.11	 	“Textron” means Textron Inc., a Delaware corporation, and any successor of Textron Inc.
	 
	1.12	 	“Textron Company” means Textron or any company controlled by or under common control with
Textron.





Article II—Benefit





	2.01	 	Subject to Sections 2.02 and 2.03, the maximum benefit provided to Participants who qualify
for benefits under this Plan is an annuity commencing upon retirement equal to 50% of Average
Compensation (the “Target Benefit”) less the offsets and adjusted by the Early Retirement
Factors as set out below.
	 
	2.02	 	The Target Benefit shall be reduced by any nonqualified or qualified pension plan benefits
payable at age 65 from a prior employer other than a Textron employer. The reduction for any
prior employer plans shall be the actuarial equivalent of a life annuity. The net Target
Benefit after reduction for any prior employer plans shall then be multiplied by the Early
Retirement Factor as set out in Section 2.03 below. The product of the net Target Benefit
times the Early Retirement Factor shall then be reduced by any and all amounts payable to the
Participant at the time of retirement under any qualified or nonqualified Pension Plan. The
reduction for all Pension Plans shall be a Normal Form of Benefit based on the tables in the
Pension Plan. It shall be the obligation of each Participant to disclose to Textron any
amounts that might be used under this section to reduce the benefits provided by this Plan.
Such disclosure shall include information on annuity payments and lump-sum cash payments from
other plans.






	2.03	 	The Participant’s benefits under this Plan shall be based on the Participant’s age at
retirement (including death or disability) in accordance with the following schedule:





	 	 	 
	 	 	Early Retirement
	Age at Retirement	 	Factors
	65
	 	100%
	64
	 	90
	63
	 	80
	62
	 	70
	61
	 	60
	60
	 	50
	Less Than 60
	 	0






			
	 	 	 
	Supplemental Retirement Plan for Textron Key Executives 

Amended and Restated January 1, 2009
	 	Appendix A

Page 4






 









 







	 	 	The Organization and Compensation Committee of the Board shall, in its sole discretion,
have the authority to provide a Participant with an enhanced benefit.
	 
	2.04	 	The Normal Form of Benefit shall be a life annuity unless the Participant was designated a
Participant in this Plan prior to July 23, 1998, in which case the Normal Form of Benefit
shall be a Joint and 50% Survivor annuity. The payment of any benefit under Section 2.01
shall be paid in the Normal Form of Benefit or otherwise as determined by Textron’s Chief
Executive Officer in his sole discretion after considering any form of payment requested by
the Participant, Surviving Spouse, or other Beneficiary entitled to receive the benefits. Any
form of benefit payable other than the Normal Form shall be the actuarial equivalent of the
Normal Form using the factors in the Textron Master Retirement Plan. For any individual who
becomes a Participant after July 23, 1998, their benefit payments will be reduced if they
elect a 50% or a 100% Joint and Survivor Benefit. The Joint and Survivor factors are the same
factors provided by the Textron Master Retirement Plan.
	 
	2.05	 	If a Participant dies after age 60 and prior to benefit commencement under this Plan, the
Participant’s Surviving Spouse will receive an annuity equal to the amount the Spouse would
have received assuming the Participant had requested a Joint and 50% Survivor annuity and
retired the day before he died.





Article III—Unfunded Plan





	3.01	 	Benefits to be provided under this Plan are unfunded obligations of Textron. Nothing
contained in this Plan shall require Textron to segregate any monies from its general funds,
to create any trust, to make any special deposits, or to purchase any policies of insurance
with respect to such obligations. If Textron elects to purchase individual policies of
insurance on one or more of the Participants to help finance its obligations under this Plan,
such individual policies and the proceeds therefrom shall at all times remain the sole
property of Textron and neither the Participants whose lives are insured nor their
Beneficiaries shall have any ownership rights in such policies of insurance.
	 
	3.02	 	The Plan is maintained primarily for the purpose of providing deferred compensation for a
select group of management or highly compensated employees within the meaning of Sections
201(2), 301(a)(3), and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as
amended (“ERISA”).
	 
	3.03	 	No Participant shall be required or permitted to make contributions to this Plan.





			
	 	 	 
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	 	Appendix A

Page 5






 









 






Article IV—Plan Administration





	4.01	 	(a) Textron shall be the plan administrator of this
Plan and shall be solely responsible for its
general administration and interpretation.
Textron shall have all such powers as may be
necessary to carry out the respective
provisions hereof. Textron may from time to
time establish rules of the administration of
this Plan and the transaction of its business.
Subject to Section 4.03, any action by Textron
shall be final, conclusive, and binding on each
Participant and all persons claiming by,
through, or under any Participant.
	 
	 	 	(b) Notwithstanding any provision in this Plan to the contrary, the Organization and
Compensation Committee of the Board shall render all decisions under this Plan (including
participation, Plan benefits, and benefit distributions) affecting Textron’s Chief
Executive Officer.
	 
	 	 	 (c) Textron (and any person or persons to whom it delegates any of its authority as plan
administrator) shall have discretionary authority to determine eligibility for Plan
benefits, to construe the terms of the Plan, and to determine all questions arising in the
administration of the Plan, and shall make all such determinations and interpretations in a
nondiscriminatory manner.
	 
	 	 	(d) Notwithstanding any provision to the contrary, no benefit shall be paid to any
Participant while employed by Textron.
	 
	4.02	 	Textron may employ or engage such agents, accountants, actuaries, counsel, other experts, and
other persons as it deems necessary or desirable in connection with the interpretation and
administration of this Plan. Textron shall be entitled to rely upon all certifications made
by an accountant selected by Textron. Textron and its committees, officers, directors, and
employees shall not be liable for any action taken, suffered, or omitted by them in good faith
in reliance upon the advice or opinion of any such agent, accountant, actuary, counsel, or
other expert. All action so taken, suffered, or omitted shall be conclusive upon each of them
and upon all other persons interested in this Plan.
	 
	4.03	 	Textron may require proof of death or total disability of any Participant, former Participant
or beneficiary and evidence of the right of any person to receive any Plan benefit.
	 
	4.04	 	Claims under this Plan shall be filed in writing with Textron, and shall be reviewed and
resolved pursuant to the claims procedure in Section 4.05 of the Supplemental Retirement Plan
for Textron Key Executives.
	 
	4.05	 	Textron shall withhold from benefits paid under this Plan any taxes or other amounts required
to be withheld by law.





			
	 	 	 
	Supplemental Retirement Plan for Textron Key Executives 

Amended and Restated January 1, 2009
	 	Appendix A

Page 6






 









 






Article V—Miscellaneous





	5.01	 	Unless a contrary or different meaning is expressly provided, each use in this Plan of the
masculine or feminine gender shall include the other and each use of the singular number shall
include the plural.
	 
	5.02	 	(a) Textron shall recognize the right of an alternate payee named in a domestic relations
order to receive all or a portion of a Participant’s benefit under the Plan, provided that (1)
the domestic relations order would be a “qualified domestic relations order” within the
meaning of IRC Section 414(p) of the Code if IRC Section 414(p) were applicable to the Plan
(except that the order may require payment to be made to the alternate payee before the
Participant’s earliest retirement age), (2) the domestic relations order does not purport to
give the alternate payee any right to assets of any Textron Company, and (3) the domestic
relations order does not purport to allow the alternate payee to defer payments beyond the
date when the benefits assigned to the alternate payee would have been paid to the
Participant.
	 
	 	 	(b) Except as provided in subsection (a) concerning domestic relations orders, no amount
payable at any time under this Plan shall be subject in any manner to alienation, sale,
transfer, assignment, pledge or encumbrance of any kind to the extent that the assignment
or other action would cause the amount to be included in the Participant’s gross income or
treated as a distribution for federal income tax purposes. A Participant may, with the
written approval of the Benefits Committee, make an assignment of a benefit for estate
planning or similar purposes if the assignment does not cause the amount to be included in
the Participant’s gross income or treated as a distribution for federal income tax
purposes. Any attempt to alienate, sell, transfer, assign, pledge or otherwise encumber
any such benefit, whether presently or subsequently payable, shall be void unless so
approved. Except as required by law, no benefit payable under this Plan shall in any
manner be subject to garnishment, attachment, execution or other legal process, or be
liable for or subject to the debts or liability of any Participant, Surviving Spouse, or
Beneficiary.
	 
	5.03	 	Notwithstanding any Plan provision to the contrary, the Board or its designee shall have the
right to amend, modify, suspend, or terminate this Plan at any time by written notification of
such action; provided, however, that no amendment, modification, suspension, or termination:






	 	(a)	 	Shall reduce an amount payable under Article II before the effective date of
the amendment, modification, suspension or termination; or
	 
	 	(b)	 	Shall be made to Section 5.04 following a Change in Control.





			
	 	 	 
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	 	Appendix A

Page 7






 









 







	5.04	 	If after a Change in Control any claim is made or any litigation is brought by a Participant
or beneficiary to enforce or interpret any provision contained in this Plan, Textron and the
“person” or “group” described in the next following sentence shall be liable, jointly and
severally, to indemnify the Participant or beneficiary for the Participant’s or beneficiary’s
reasonable attorney’s fees and disbursements incurred in any such claim or litigation and for
prejudgment interest at the Bankers Trust Company prime interest rate on any money award or
judgment obtained by the Participant or beneficiary. In the event that the Participant
retires or his employment otherwise terminates at any time after a “Change in Control” as
defined below, the Participant shall, in lieu of the benefit payable under Article II, receive
a benefit equal to the actuarial present value at termination of the benefit the Participant
would have received had the Participant terminated employment at age 65, based upon the
Participant’s Average Compensation as of the date of her termination. If the Participant
terminates within 24 months after the Change in Control, such benefit shall be paid in a lump
sum. If the Participant terminates more than 24 months after the Change in Control, then the
Participant shall be paid in an annuity. The Benefits Committee shall select the discount
rate and mortality table to be used in determining the actuarial present values.
	 
	 	 	For purposes of this Plan, a “Change in Control” shall occur if (i) any “person” or “group”
(within the meaning of Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934,
as amended (the “Act”)) other than Textron, any trustee or other fiduciary holding Textron
common stock under an employee benefit plan of Textron or a related company, or any
corporation which is owned, directly or indirectly, by the stockholders of Textron in
substantially the same proportions as their ownership of Textron common stock, is or
becomes (other than by acquisition from Textron or a related company) the “beneficial
owner” (as defined in Rule 13d-3 under the Act) of more than 30% of the then outstanding
voting stock of Textron, or (ii) during any period of two consecutive years, individuals
who at the beginning of such period constitute the Board (and any new director whose
election by the Board or whose nomination for election by Textron’s stockholders was
approved by a vote of at least two-thirds of the directors then still in office who either
were directors at the beginning of such period or whose election or nomination for election
was previously so approved) cease for any reason to constitute a majority thereof, or (iii)
stockholders of Textron approve a merger or consolidation of Textron with any other
corporation, other than a merger or consolidation which would result in the voting
securities of Textron outstanding immediately prior thereto continuing to represent (either
by remaining outstanding or by being converted into voting securities of the
surviving entity) more than 50% of the combined voting power of the voting securities of
Textron or such surviving entity outstanding immediately after such merger or
consolidation, or (iv) the stockholders of Textron approve a plan of complete liquidation
of Textron or an agreement for the sale or disposition by Textron of all or substantially
all of Textron’s assets.





			
	 	 	 
	Supplemental Retirement Plan for Textron Key Executives 

Amended and Restated January 1, 2009
	 	Appendix A

Page 8






 









 







	5.05	 	This Plan shall be construed in accordance with the laws of the State of Delaware.
	 
	5.06	 	Nothing contained in this Plan shall be construed as a contract of employment between any
Participant and any Textron Company, or to suggest or create a right in any Participant to be
continued in any capacity with, or as an employee of, any Textron Company.





			
	 	 	 
	Supplemental Retirement Plan for Textron Key Executives 

Amended and Restated January 1, 2009
	 	Appendix A

Page 9