Document:

Agreement for the Payment of Benefits Following Termination of Employment

 Exhibit 10.50 
 AGREEMENT FOR THE PAYMENT OF BENEFITS 
 FOLLOWING
TERMINATION OF EMPLOYMENT 
 AGREEMENT dated as of April 28, 2009 (the “Effective Date”) between Fortune
Brands, Inc., a Delaware corporation (the “Company”), and Patrick J. Koley (the “Executive”), 
 W
I T N E S S E T H: 
 WHEREAS, the Executive became employed as
the Company’s Senior Vice President, Strategy and Corporate Development, as of February 9, 2009; and 
 WHEREAS, the
Company and the Executive desire to enter into this Agreement to set forth the benefits to be provided to the Executive in the event that his employment terminates under the circumstances described herein. 
 NOW, THEREFORE, in consideration of the foregoing, the parties agree as follows: 
 1. Definitions. For purposes of this Agreement, the following terms shall have the meanings set forth below: 
 (a) Cause. “Cause” shall mean either: 
 (i) the Executive’s indictment for a felony as a result of one or more acts of dishonesty; or 
 (ii) the Executive’s willful and continuous failure to substantially to perform his duties (other than a failure
resulting from a physical or mental illness); 
 provided, however, that Cause shall not exist if the Executive’s act or failure to act:
(1) was done or omitted to be done as a result of the Executive’s bad judgment or negligence, or based upon the Executive’s good faith belief that such act or failure to act was in or was not opposed to the interests of the
Company; or (2) meets the applicable standard of conduct prescribed for indemnification or reimbursement or payment of expenses under the By-laws of the Company or the laws of the state of its incorporation or the directors’ and
officers’ liability insurance of the Company, in each case as in effect at the time Cause would otherwise arise. 
 (b)
Change in Control. A “Change in Control” of the Company shall be deemed to have occurred if, prior to the Executive’s Termination of Employment: 
 (i) any person (as that term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”) as in effect on the date of this Agreement) is or becomes the beneficial owner (as that term is used in Section 13(d) of the Exchange Act, and the rules and regulations promulgated thereunder, as in effect on the
date of this Agreement) of 20% or more of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors (“Voting Securities”) of the Company, excluding, however, the following:
(A) any acquisition directly from the Company, other than an acquisition by virtue of the exercise of a conversion privilege unless the security being so converted was itself acquired directly from the Company; (B) any acquisition by the
Company; (C) any acquisition by an employee benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the Company; or (D) any acquisition pursuant to a transaction that complies with clauses (A),
(B) and (C) of clause (iii) below; 

 (ii) more than 50% of the members of the Company’s Board of Directors
of (the “Board”) shall not be Continuing Directors (which term, as used herein, means the directors of the Company: (A) who were members of the Board on the date hereof; or (B) who subsequently became directors of the Company and
who were elected or designated to be candidates for election as nominees of the Board, or whose election or nomination for election by the Company’s stockholders was otherwise approved, by a vote of a majority of the Continuing Directors then
on the Board but shall not include, in any event, any individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14(a)-11 of Regulation 14A promulgated under
the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board); 
 (iii) the Company shall be merged or consolidated with, or, in any transaction or series of transactions, substantially all of the business or assets of the Company shall be sold or otherwise
acquired by, another corporation or entity unless, as a result thereof: (A) the stockholders of the Company immediately prior thereto shall beneficially own, directly or indirectly, at least 60% of the combined Voting Securities of the
surviving, resulting or transferee corporation or entity (including, without limitation, a corporation that as a result of such transaction owns the Company or all or substantially all of the assets of the Company, either directly or through one or
more subsidiaries) (“Newco”) immediately thereafter in substantially the same proportions as their ownership immediately prior to such corporate transaction; (B) no person beneficially owns (as such terms are used in Sections 13(d)
and 14(d) of the Exchange Act, and the rules and regulations promulgated thereunder (as in effect on the date hereof)), directly or indirectly, 20% or more of the combined Voting Securities of Newco immediately after such corporate transaction
except to the extent that such ownership of the Company existed prior to such corporate transaction, and (C) more than 50% of the members of the Board of Directors of Newco shall be Continuing Directors; or 
 (iv) the stockholders of the Company approve a complete liquidation or dissolution of the Company. 
 (c) Change in Control Benefit. “Change in Control Benefit” shall refer to any special or enhanced benefits described in
Section 3 below to which the Executive may become entitled if his employment terminates for one of the reasons listed in Section 2(a) within the 24-month period following a Change in Control. 
 (d) Disability. “Disability” shall mean a physical or mental illness that results in the Executive’s absence from the
full-time performance of his duties for 180 consecutive calendar days. 
  

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 (e) Good Reason. Termination of employment by the Executive for Good Reason shall be
deemed to have occurred only if the Executive terminates his employment and provides a Notice of Termination to the Company prior to such date for any of the following reasons: 
 (i) a material change in the Executive’s duties, responsibilities and status Executive, or, in the event of a Change in
Control, a material change in Executive’s reporting responsibilities, titles or offices as in effect at the time of a Change in Control; 
 (ii) a material reduction in the Executive’s then current base salary; 
 (iii) material reduction in the value of the benefits provided to the Executive (other than those plans or improvements that have expired in accordance with their original terms); provided that the
Company may eliminate Executive’s participation in such plans if participation ceases for similarly situated senior executives; 
 (iv) after a Change in Control, the target bonus awarded by the Company’s Compensation and Stock Option Committee to Executive under the Annual Executive Incentive Compensation Plan of the Company
(“Incentive Plan”) subsequent to a Change in Control is materially less than such amount last awarded to Executive prior to a Change in Control; 
 (v) after a Change in Control, the sum of the Executive’s base salary and amount paid to him as incentive compensation under the Incentive Plan for the calendar year in which the Change in Control
occurs or any subsequent year is materially less than the sum of the Executive’s base salary and the amount awarded (whether or not fully paid) to him as incentive compensation under the Incentive Plan for the calendar year prior to the Change
in Control or any subsequent calendar year in which the sum of such amounts was materially greater; 
 (vi) the
relocation of the offices at which Executive is employed to a location more than 35 miles away or the Company requiring Executive to be based anywhere other than at such offices, except for required travel on the Company’s business to an
extent substantially consistent with Executive’s position; 
 (vii) any failure of the Company to comply
with and satisfy Section 7; 
 (viii) any purported termination of the Executive’s employment which is
not effected pursuant to a Notice of Termination, and for purposes of this Agreement, no such purported termination shall be effective; 
 provided, further, unless a Change in Control has occurred, that the Executive must provide written notice to the Company of the existence of Good Reason no later than 90 days after its initial existence, the Company shall have a period of
30 days following its receipt of such written notice during which it may remedy in all material respects the Good Reason condition identified in such written notice, and the Executive must terminate employment no later than two (2) years
following the initial existence of the Good Reason condition identified in such written notice. 
  

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 (f) Notice of Termination. “Notice of Termination” shall mean a written
notice sent by the Executive or the Company to the other party, describing the reasons for the termination of the Executive’s employment and including specific reference to the provision(s) of this Agreement at issue. Such Notice of Termination
must be provided by the party seeking to terminate the Executive’s employment within 90 days of the existence of either Cause or Good Reason, as applicable, and the party receiving the Notice of Termination shall be given 30 days to remedy such
situation (to the extent applicable). 
 (g) Termination Date. “Termination Date” shall mean: 
 (i) in the case of Disability, 30 days after Notice of Termination is given, provided that the Executive shall not have
returned to the performance of his duties on a full-time basis during such 30-day period; 
 (ii) in the case of
Good Reason following a Change in Control or in the case of Cause, the date on which Notice of Termination is given; 
 (iii) in the case of Good Reason without a Change in Control, 30 days after the Notice of Termination is given, provided that the Company has not either remedied the conditions giving rise to Good Reason or waived its right to do so; and

 (iv) in the event that employment is terminated for any other reason, the date on which the Executive ceases
to perform his duties for the Company; 
 provided, however, that, if within 30 days after any Notice of Termination is given, the receiving
party notifies the other party that a dispute exists concerning the reasons for such termination of employment, the Termination Date shall be the date finally determined, either by written agreement of the parties or by a final judgment, order or
decree of court of competent jurisdiction (the time for appeal having expired and no appeal having been perfected), to be the date that the Executive’s employment terminated; provided further, however, that if such dispute is resolved in favor
of the Company, the Termination Date shall be the date determined under clauses (i) through (iv) of this Section 1(g). 
 2. Entitlement to Benefits. The Executive shall be entitled to the benefits described in Section 3 below if: 
 (a) the Executive’s employment is terminated either by the Company for reasons other than Disability or Cause or by the Executive for Good Reason; provided, however, that, in order for the Executive to be eligible for any Change in
Control Benefits, such termination of employment must occur within 24 months of a Change in Control; 
 (b) the Executive’s
Termination Date occurs while this Agreement is in effect; and 
 (c) a Notice of Termination is provided in a timely manner (as
described in Section 1(f)) prior to the Executive’s Termination Date by either the Company (in the case of termination other than for Disability or Cause) or the Executive (in the case of termination for Good Reason). 
  

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 The Executive shall not be entitled to any benefits under this Agreement in the event his employment is
terminated by the Company for Disability or Cause, by the Executive other than for Good Reason or following the Executive’s death or the expiration of this Agreement. This Agreement shall have no effect on any obligations the Company may have
to the Executive if his employment terminates under circumstances not described herein. 
 3. Benefits Upon Termination of
Employment. Notwithstanding the provisions of Section 2 above, in order to receive the benefits described in paragraphs (b), (c) and (d) below, the Executive must deliver and not revoke an executed release of legal claims against
the Company and its affiliates. 
 (a) Accrued Pay. The Company shall pay the Executive any base salary or vacation
accrued but unpaid through his Termination Date. 
 (b) Severance Pay. The Company shall pay severance benefits to the
Executive equal to the product of one and one-half (1.5) times the sum of the following amounts, subject to any applicable limitations in Sections 3(f) and 3(g) below: 
 (i) his annual base salary as in effect on the Effective Date, or, if applicable, the date of a Change in Control, plus

 (ii) his target annual bonus under the Incentive Plan in effect in the calendar year in which the Termination
Date occurs, plus 
 (iii) the amount that would have been required to be allocated to the Executive’s
account (assuming that he elected the maximum employee contribution) for the year immediately preceding the year in which the Termination Date occurs under the Fortune Brands Retirement Savings Plan, including the Company 401(k) matching
contribution, and the profit-sharing provisions of the Supplemental Plan of Fortune Brands, Inc. (the “Supplemental Plan”); 
 provided, however, that for purposes of calculating a Change in Control Benefit, the multiplier in Section 3(b) above shall be changed to two (2). 
 Such severance amounts described above shall be paid to the Executive in bi-weekly installments following his Termination Date through the Company’s normal payroll process and on the Company’s
normal payroll dates. 
 (c) Continued Benefits Coverage. The Company shall maintain for the Executive’s benefit all
employee life, health, accident, and medical plan coverage(s) that Executive was receiving immediately prior to his Termination Date, provided that his continued participation is allowed under the terms of such plans. The Company shall maintain such
coverage(s) following the Executive’s Termination Date for 18 months, or, if the Executive is entitled to a Change in Control Benefit, two (2) years. With respect to any continued employee benefit coverage, the Executive shall be required to
pay the applicable active employee rate of coverage for similar coverage, and any continued health coverage (medical, dental and vision) shall run concurrent with coverage required to be provided under the Consolidated Omnibus Budget Reconciliation
Act of 1985 (“COBRA”). If the Company continues to provide the continued health coverage described in this Section 3(c) after the applicable period of COBRA coverage would have otherwise expired, the Executive may be taxed on the
value of such coverage. No other welfare or fringe benefits shall be provided except as specifically provided in this Section 3(c). 
  

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 (d) Incentive Compensation. The following amounts shall become payable to the
Executive following his Termination Date, as of the date that annual incentive awards are normally paid by the Company: 
 (i) any unpaid amounts awarded to the Executive as incentive compensation under the Incentive Plan for the calendar year immediately preceding the year in which the Termination Date occurs; and 
 (ii) an amount equal to the award the Executive would have received under the Incentive Plan based upon actual Company
performance for the calendar year in which the Termination Date occurs, prorated for the portion of the calendar year during which the Executive was employed. 
 (e) Unvested Retirement Savings Benefits. As of the Executive’s Termination Date, the Company shall pay to the Executive as additional severance pay in a lump sum an amount, if any, equal to
the nonvested portion of his account balances under the Fortune Brands Retirement Savings Plan and the defined contribution plan of any affiliate of the Company in which there is maintained for him an account balance which is not fully vested.

 (f) Tax Withholding. The Company may withhold from any benefits payable under this Agreement any applicable federal,
state, city or other taxes as required by law. 
 (g) Time of Payment for Specified Employees. Notwithstanding any
provision of this Section 3 to the contrary, if the Executive is a “specified employee” of the Company (as defined in the Supplemental Plan), amounts that would otherwise have been paid to or on behalf of the Executive under the
foregoing provisions of this Section 3 (but excluding amounts described in paragraph 3(c) above) during the six-month period immediately following the Termination Date shall be paid on the first regular payroll date immediately following the
six-month anniversary of the Termination Date. 
 (h) No Duty to Mitigate. The Executive shall not be required to
mitigate the amount of any payment provided for in this Section 3 by seeking other employment or otherwise, nor shall the amount of any payment provided for in this Section 3 be reduced by any compensation earned by the Executive as the
result of employment by another employer after the Termination Date or by any other compensation. 
 (i) No Other Severance
Benefits. No benefits shall be provided to the Executive under any severance pay program covering salaried or executive employees generally maintained by the Company or any of its affiliates or subsidiaries. 
  

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 4. Section 409A. Notwithstanding anything in this Agreement to the contrary, in
the event that any amounts payable (or benefits provided) under this Agreement are subject to the provisions of Section 409A of the Code, to the extent determined necessary, the parties agree to amend this Agreement in the least restrictive
manner necessary to avoid imposition of any additional tax or income recognition on Executive under Section 409A of the Code, the final Treasury Regulations and other Internal Revenue Service guidance thereunder. In addition, to the extent
necessary to comply with Code Section 409A, references to termination of employment (and similar phrases) in this Agreement shall be interpreted in a manner that is consistent with the term “separation from service” under Code
Section 409A(a) (2) (A) (i) and final Treasury Regulations and other Internal Revenue Service guidance thereunder. 
 5. Restrictive Covenants. 
 (a) Confidential Information. The Executive acknowledges that he will have
access to highly confidential information of the Company and its affiliates, including, but not limited to: financial information, supply and service information, marketing information, personnel data, customer lists, business and financial plans
and strategies, and product costs, sources and pricing. The Company and the Executive consider it imperative that all such information (“Confidential Trade Secrets”) be held in complete confidence and trust. Accordingly, the Executive
agrees that, notwithstanding any other provision of this Agreement to the contrary, during and for a period of twelve months following his Termination Date with the Company, regardless of the reasons that such employment might end, the Executive
will: 
 (i) hold all Confidential Trade Secrets in confidence and not discuss, communicate, disclose or transmit
to others, or make any unauthorized copy of or use the Confidential Trade Secrets in any capacity, position or business unrelated to the Company; 
 (ii) use the Confidential Trade Secrets only in furtherance of proper Company employment related business reasons; and 
 (iii) take all reasonable action that the Company deems necessary and appropriate to prevent unauthorized use or disclosure
of or to protect the Confidential Trade Secrets. 
 Notwithstanding the foregoing, it is understood and agreed that the Executive’s
obligations under this Section 5(a) do not extend to any knowledge or information which is or may become available to the public or to competitors other than by disclosure by the Executive in breach of this Agreement nor to disclosure compelled
by judicial or administrative proceeding after the Executive diligently tries to avoid each disclosure and affords the Company the opportunity to obtain assurance that compelled disclosures will receive confidential treatment. 
 (b) Loyalty; Non-Solicitation. The Executive further acknowledges that the loyalty and dedicated service of the Company’s and
its affiliates’ employees is critical to the Company’s business. Accordingly, the Executive agrees that during and after his employment by the Company, regardless of the reasons the employment might end, he will not, without the prior
written consent of the Company, induce or attempt to induce any employee or agency representative of the Company or any of its affiliates to leave the employment or representation of the Company or of any affiliate. The Executive also agrees that
during and after his employment, he will not take any action, or make any statements, that discredit or disparage the Company or its affiliates, or its or their officers, directors, employees or products. The Company agrees that it will not take any
action or make any statements during and after Executive’s employment that discredit or disparage the Executive. The two preceding sentences shall not apply to statements made in papers filed in good faith with a court of law in connection with
a lawsuit between the Executive and the Company or any of its affiliates. 
  

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 (c) Non-Competition. The Executive acknowledges that the Company and its affiliates
have invested time and money in establishing or planning to establish one or more aspects of its business throughout the United States, Canada, Asia, Mexico and Europe. Therefore, the Executive agrees that during his employment by the Company and
for a period of 12 months after the termination of his employment, the Executive will not: 
 (i) directly or
indirectly, individually engage in nor be competitively employed or retained by, or render any competing services for, or be financially interested in, any firm or corporation engaged in any business in the United States, Canada, Asia, Mexico or
Europe which is directly competitive with any significant business in which Company or any of its affiliates was engaged during the two-year period preceding the date the Executive’s employment terminates, including, but not limited to any
significant business in which, during such two-year period, the Executive was involved in the Company’s or any affiliate’s planning to enter such business. Notwithstanding the foregoing, this restriction shall not apply to: 
 (A) the purchase by the Executive of stock not to exceed 5% of the outstanding shares of capital stock or any corporation
whose securities are listed on any national securities exchange; or 
 (B) the employment of the Executive by a
non-competitive subsidiary or non-competitive affiliated entity of a competitor of the Company or any affiliate upon written consent of the Company, which consent shall not be unreasonably withheld. 
 (ii) solicit business from nor directly or indirectly cause others to solicit business that competes with the Company’s
or any affiliate’s line of products from any entities which have been customers of the Company during the Executive’s employment or which were targeted as potential customers during Executive’s employment. 
 (d) Remedies. The Executive recognizes and agrees: 
 (i) that the covenants and restrictions in paragraphs (a), (b) and (c) of this Section 5 are reasonable and
valid and all defenses to the strict enforcement of such sections by the Company are waived by the Executive to the full extent permitted by law. In the event, however, that a court of competent jurisdiction should determine in any case that the
enforcement of any provision contained in such paragraphs would not be reasonable, it is intended that enforcement of a provision which is determined by such court to be reasonable shall be given effect; and 
  

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 (ii) that a breach of the covenants and restrictions in paragraphs (a),
(b) or (c) of this Section 5 would result in irreparable harm to the Company which could not be compensated by money damages alone. Accordingly, the Executive agrees that should there be a breach of any or all of these provisions or a
threatened breach, the Company shall be entitled to cease paying amounts under Section 3 and to offset any amounts it owes to Executive against any damage that it has suffered as a result of the breach of any of the covenants and restrictions
in paragraphs (a), (b) or (c) of this Section 5 and, in addition to its other remedies, to an order enjoining any such breach or threatened breach without bond. In addition, the Executive agrees that, in the event he breaches any of
the covenants or restrictions of paragraphs (a), (b) or (c) of this Section 5, he will promptly repay to the Company upon demand any amounts paid to him pursuant to Section 3. The Executive further agrees that if the Company
prevails in any action to enforce these provisions, he will reimburse the Company for its attorney fees and costs incurred in pursuing such action. 
 The Company agrees that it will seek enforcement of paragraphs (a), (b) and (c) of this Section 5 only in a good faith, reasonable manner and will not seek to enforce such sections solely
for malicious and punitive reasons. 
 6. Disputes. In the event that the Executive prevails in any action to obtain or
enforce any rights under this Agreement, the Company shall pay the cost of legal fees and expenses incurred by Executive in such action, which payment shall be made directly to the provider of services within the time period required by
Section 409A; provided, however that the Executive shall be required to deliver and not revoke an executed release of claims in the form attached hereto as Exhibit A (as such release may be updated from time to time to reflect legal
requirements). If a dispute arises concerning the Executive’s entitlement to benefits under this Agreement following a Change in Control, the Company shall continue to pay Executive’s full base salary through the date finally determined to
be his Termination Date. 
 7. Successors; Binding Agreement. 
 (a) The Company shall require any successor to all or substantially all of its business or assets (whether direct or indirect, by purchase,
merger, consolidation or otherwise), and any parent company thereof, to expressly assume and agree to perform the Company’s obligations under this Agreement. 
 (b) This Agreement shall not be assignable by the Executive except by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive and his
personal or legal representatives and successors in interest. 
  

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 8. Term. Unless otherwise earlier terminated in writing by both parties, this
Agreement shall be effective for the three (3) year period commencing on the Executive’s first day of employment. At the close of such three (3) year period, the Agreement shall automatically renew for an additional three
(3) year period unless either party hereto shall notify the other party in writing of its intent to not renew the Agreement. This Agreement may be terminated by the Company by written notice to the Executive at any time at least six months
prior to the execution of a definitive agreement which would lead to a Change in Control, provided that if a Change in Control occurs within such six month period, then this Agreement shall continue in effect in accordance with its terms.
Notwithstanding the foregoing, the Restrictive Covenants provisions of Section 5 hereof shall remain in full force and effect as provided above. 
 9. Notice. Any notice, demand or other communication required or permitted under this Agreement shall be effective only if it is in writing and delivered personally or sent by registered or
certified mail, return receipt requested, postage prepaid, addressed as follows: 
 If to the Company: 
 Fortune Brands, Inc. 
 520 Lake Cook Road 
 Deerfield, Illinois 60015 
 Attention: General Counsel 
 If to the Executive: 
 At the address most recently on file with the Company 
 or to such other address as either party may designate by written notice to the other and shall be deemed to have been given as of the date so personally
delivered or mailed. 
 10. Miscellaneous. 
 (a) This Agreement cannot be modified or any term or condition waived in whole or in part except by a writing signed by the party against whom enforcement of the modification or waiver is sought.

 (b) This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. 
 (c) No waiver by either party at any time of any breach of this Agreement by the other party shall be deemed a waiver of such provisions or
conditions at any prior or subsequent time. 
 (d) The headings in this Agreement are included for convenience and shall not
affect the meaning or interpretation of this Agreement. 
 (e) The invalidity or unenforceability of one or more provisions of
this Agreement shall not affect the enforceability any other provision of this Agreement. 
  

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 (f) This Agreement may be executed in any number of counterparts, each of which shall be
deemed an original, and such counterparts will together constitute one Agreement. 
 IN WITNESS WHEREOF, the Company has caused
this Agreement to be executed by a duly authorized officer and attested to and the Executive has set his hand as of the date first above written. 
  

							
	 	 	 	 	FORTUNE BRANDS, INC.
				
		 		 	By:	 	 /s/ Elizabeth R. Lane

		 		 		 	Elizabeth R. Lane
		 		 		 	Vice President - Human Resources
	ATTEST:	 		 		 	
				
	 /s/ Mark A. Roche
	 		 		 	
	Secretary	 		 		 	
		 		 	EXECUTIVE
			
		 		 	 /s/ Patrick J. Koley

		 		 	Patrick J. Koley

  

 11Form of Change in Control Severance Agreement

 Exhibit 10.21 
 Form of 
 Raytheon Company 
 Change In Control Severance Agreement 
 Agreement by and between Raytheon Company, a Delaware corporation (the “Company”), and
                     (“Executive”) dated as of             ,
201    . 
 The Board of Directors of Company believes it is in the best interests of the Company and
its stockholders to have the continued dedication of Executive notwithstanding the possibility, threat or occurrence of a Change in Control (as defined in Section 1.5); to diminish the inevitable distraction of Executive due to personal
uncertainties and risks created by a threatened or pending Change in Control; and to provide Executive with compensation and benefits arrangements upon a Change in Control which are competitive with those offered by other corporations. 

Therefore, the Board of Directors has caused the Company to enter into this Agreement, and the Company and Executive agree as follows:

 1 DEFINITIONS 
 For purposes
of this Agreement, the following terms have the following meanings. 
 1.1 “Affiliated Company” means an affiliated company as
defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). 
 1.2 “Base Salary”
means Executive’s annual base salary paid or payable (including any base salary which has been earned but deferred) to Executive by the Company or an affiliated company immediately preceding the date of a Change in Control. 
 1.3 “Board” means the Board of Directors of the Company. 
 1.4 “Cause” means Executive’s: 
  

	 	(i)	willful and continued failure to perform substantially Executive’s duties with the Company or one of its affiliates as such duties are constituted as of a Change
in Control after the Company delivers to Executive written demand for substantial performance specifically identifying the manner in which Executive has not substantially performed Executive’s duties; 

	 	(ii)	conviction for a felony; or 

  

	 	(iii)	willfully engaging in illegal conduct or gross misconduct which is materially and demonstrably injurious to the Company. 

 For purposes of this Section 1.4, no act or omission by Executive shall be considered “willful” unless it is done or omitted in bad faith or
without reasonable belief that Executive’s action or omission was in the best interests of the Company. Any act or failure to act based upon (a) authority given pursuant to a resolution duly adopted by the Board, (b) instructions of
the Chief Executive Officer or a senior officer of the Company, or (c) advice of counsel for the Company shall be conclusively presumed to be done or omitted to be done by Executive in good faith and in the best interests of the Company. For
purposes of subsections (i) and (iii) above, Executive shall not be deemed to be terminated for Cause unless and until there shall have been delivered to Executive a copy of a resolution duly adopted by the affirmative vote of not less
than three quarters of the entire membership of the Board at a meeting called and held for such purpose (after reasonable notice is provided to Executive and Executive is given an opportunity, together with counsel, to be heard before the Board)
finding that in the good faith opinion of the Board Executive is guilty of the conduct described in subsection (i) or (iii) above and specifying the particulars thereof in detail. 
 1.5 “Change in Control” of the Company shall be deemed to have occurred as of the first day that any one or more of the following
conditions shall have been satisfied: 
  

	 	(i)	Any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”), other than those Persons in
control of the Company as of the date hereof or a trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation owned directly or indirectly by the stockholders of the Company in substantially the same
proportions as their ownership of stock of the Company, becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 25% or more of the combined voting power of the
Company’s then outstanding securities; or 

  

	 	(ii)	A change in the Board such that individuals who as of the date hereof constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least
a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election or nomination for election by the Company’s stockholders was approved by a vote of at least a majority of
the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board; or 

  

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	 	(iii)	The consummation of: (a) a plan of complete liquidation of the Company; (b) an agreement for the sale or disposition of all or substantially all of the
Company’s assets; (c) a merger, consolidation or reorganization of the Company with or involving any other corporation, other than a merger, consolidation or reorganization that would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least 50% of the combined voting power of the voting securities of the Company
(or such surviving entity) outstanding immediately after such merger, consolidation or reorganization. 

 However, in no event
shall a Change in Control be deemed to have occurred for purposes of this Agreement if Executive is included in a Person that consummates the Change in Control. Executive shall not be deemed to be included in a Person by reason of ownership of
(i) less than 3% of the equity in the Person or (ii) an equity interest in the Person which is otherwise not significant as determined prior to the Change of Control by a majority of the non-employee continuing directors of the Company.

 1.6 “Code” means the Internal Revenue Code of 1986, as amended. 
 1.7 “Good Reason” means any of the following acts or omissions by the Company without Executive’s express written consent: 

 

	 	(i)	assigning to Executive duties materially inconsistent with Executive’s position (including status, offices, titles and reporting requirements), authority or
responsibilities immediately prior to a Change in Control or any other action by the Company which results in a material diminution of Executive’s position, authority, duties or responsibilities as constituted immediately prior to a Change in
Control; 

  

	 	(ii)	requiring Executive (a) to be based at any office or location in excess of 50 miles from Executive’s office or location immediately prior to a Change in
Control or (b) to travel on Company business to a substantially greater extent than required immediately prior to a Change in Control; 

  

	 	(iii)	reducing Executive’s Base Salary; 

  

	 	(iv)	materially reducing in the aggregate Executive’s incentive opportunities under the Company’s or an affiliated company’s short- and long-term incentive
programs as such opportunities exist immediately prior to a Change in Control; 

  

 3 

	 	(v)	materially reducing Executive’s targeted annualized award opportunities and/or the degree of probability of attainment of such annualized award opportunities as
such opportunities exist immediately prior to a Change in Control; 

  

	 	(vi)	failing to maintain Executive’s amount of benefits under or relative level of participation in the Company’s or an affiliated Company’s employee benefit
or retirement plans, policies, practices or arrangements in which the Executive participates immediately prior to a Change in Control; 

  

	 	(vii)	purportedly terminating Executive’s employment otherwise than as expressly permitted by this Agreement; or 

  

	 	(viii)	failing to comply with and satisfy Section 8.3 hereof by requiring any successor to the Company to assume and agree to perform the Company’s obligations
hereunder. 

 1.8 “Qualifying Termination” means the occurrence of any of the following events within twenty-four
(24) calendar months after a Change in Control: 
  

	 	(i)	the Company terminates the employment of Executive for any reason other than for Cause including, without limitation, forcing Executive to retire on any date not of
Executive’s choosing; 

  

	 	(ii)	Executive terminates employment with the Company for Good Reason; 

  

	 	(iii)	the Company fails to require a successor to assume, or a successor refuses to assume, the Company’s obligations as required by Section 8 hereof; or

  

	 	(iv)	the Company or any successor breaches any of the provisions hereof. 

 1.9 “Severance Benefits” means: 
  

	 	(i)	an amount equal to the product of Executive’s Base Salary multiplied by three (3); 

  

	 	(ii)	an amount equal to Executive’s unpaid Base Salary through a Qualifying Termination; 

  

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	 	(iii)	an amount equal to the product of the greater of (a) Executive’s annual bonus earned for the fiscal year immediately prior to a Change in Control and
(b) Executive’s target annual bonus established for the plan year in which a Qualifying Termination occurs multiplied by three (3); 

  

	 	(iv)	an amount equal to the product of Executive’s unpaid targeted annual bonus established for the plan year in which a Change in Control occurs multiplied by a
fraction the numerator of which is the number of days elapsed in the current fiscal year to the Qualifying Termination and the denominator of which is 365; 

  

	 	(v)	an amount equal to the dollar value of Executive’s accrued vacation through a Qualifying Termination; 

  

	 	(vi)	an amount equal to any increase in the aggregate benefits accrued by Executive as of a Qualifying Termination under the Company’s supplemental retirement plan
attributable to calculating the benefits by assuming that Executive’s employment continued for three years following a Qualifying Termination; provided, however, that for purposes of determining Executive’s final average pay under
the supplemental retirement plan, Executive’s actual pay history as of the Qualifying Termination shall be used; and 

  

	 	(vii)	fringe benefits pursuant to all welfare, benefit and retirement plans under which Executive and Executive’s family are eligible to receive benefits or coverage as
of a Change in Control, including but not limited to life insurance, hospitalization, disability, medical, dental, pension and thrift plans, but excluding car allowance, excess liability insurance, financial planning, and executive physicals.

 2 QUALIFYING TERMINATION 
 2.1 Severance Benefits. Following a Qualifying Termination Executive shall be entitled to all Severance Benefits, conditioned upon receipt, within 30 days after a Qualifying Termination or such
longer period as may be required by law, of a written release by the Executive of any claims against the Company or its subsidiaries, except those claims arising under this Agreement or any other written plan or agreement, which shall be
specifically noted in such release. The Company shall provide Executive with a form of release no later than 10 days after the Qualifying Termination. 
  

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 2.2 Payment of Benefits. The Severance Benefits described in Sections 1.9 (i) through 1.9(vi)
shall be paid in cash as follows: 
  

	 	(i)	the Severance Benefits described in Sections 1.9(ii) and (v) shall be paid within 30 days of a Qualifying Termination; 

  

	 	(ii)	the Severance Benefits described in Sections 1.9(i), (iii), and (iv) shall be paid six months after the date on which Executive has a separation from service, as
defined in Section 409A of the Code, Department of Treasury regulations issued under it, and policies adopted by the Company for compliance with Section 409A, provided that a reasonably anticipated permanent reduction in the level of bona
fide services to less than 50% of the average level of bona fide services provided in the immediately preceding 12 months shall give rise to the rebuttable presumption of separation from service in those regulations; and further provided that if
Executive dies after a separation from service, but before the end of the six-month period described above, the Severance Benefits described in Sections 1.9(i), (iii), and (iv) that have not already been paid by the date of death shall be paid
within 30 days after the Company receives notice of the date of death; and 

  

	 	(iii)	the Severance Benefits described in Section 1.9(vi) shall be paid in the form and at the time provided for payment of benefits in the supplemental retirement plan,
as amended to comply with Section 409A of the Code. 

 2.3 Duration of Benefits. The Severance Benefits described in
Section 1.9(vii) shall be provided to Executive at the same premium cost as in effect immediately prior to the Qualifying Termination. The welfare Severance Benefits described in Section 1.9(vii) shall be provided following the Qualifying
Termination until the earlier of (i) the third anniversary of the Qualifying Termination or (ii) the date Executive receives substantially equivalent welfare benefits from a subsequent employer. 
 3 NON-QUALIFYING TERMINATIONS 
 3.1
Voluntary; for Cause; Death. Following a Change in Control, if Executive’s employment is terminated (i) voluntarily by Executive without Good Reason, (ii) involuntarily by the Company for Cause or (iii) due to death,
Executive shall be entitled to Base Salary and benefits accrued through the date of termination and Executive’s entitlement to all other benefits shall be determined in accordance with the Company’s retirement, insurance and other
applicable plans, policies, practices and arrangements. Thereafter, the Company shall have no further obligations to Executive hereunder. 
  

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 4 NOTICE OF TERMINATION 
 4.1 Notice by Executive or Company. Any termination by Executive for Good Reason or by the Company for Cause shall be communicated by written notice given to the other in accordance with
Section 9.2 hereof and which: 
  

	 	(i)	indicates the specific termination provision in this Agreement relied upon; 

  

	 	(ii)	sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision indicated to the extent possible; and

  

	 	(iii)	specifies the termination date (which date shall not be more than 30 days after the giving of such notice). 

 4.2 Failure to Give Notice. The failure by Executive or the Company to set forth in the notice of termination required by Section 4.1 any fact
or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of Executive or the Company, respectively, hereunder or preclude Executive or the Company, respectively, from asserting such fact or circumstance in
enforcing Executive’s or the Company’s rights hereunder. 
 5 TAXES 
 5.1 Tax Withholding. The Company may withhold from any amounts payable under this Agreement such federal, state, local or foreign taxes as shall be
required to be withheld pursuant to any applicable law or regulation. 
 6 EXTENT OF COMPANY’S OBLIGATIONS 
 6.1 No Set-Off, Etc. The Company’s obligation to make the payments and perform it obligations hereunder shall not be affected by any
set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against Executive or others. All payments by the Company hereunder shall be final, and the Company shall not seek to recover from Executive any
part of any payment for any reason whatsoever. 
 6.2 No Mitigation. In no event shall Executive be obligated to seek other employment or
take any other action by way of mitigation of the amounts payable to Executive under any provision hereof, and such amounts shall not be reduced whether or not Executive obtains other employment except to the extent contemplated by Section 2.3
hereof. 
  

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 6.3 Payment of Legal Fees and Costs. The Company agrees to pay as incurred, to the full extent
permitted by law, all legal fees and expenses which Executive may reasonably incur as a result of any contest (regardless of the outcome thereof) by the Company, Executive or others of the validity or enforceability of, or liability under, any
provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by Executive about the amount of payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable
federal rate provided for in Section 7872(f)(2)(A) of the Code. All payments under this Section 6.3 shall be made at the times otherwise specified in this Section 6.3 but in all events no later than the dates prescribed in Department
of Treasury Regulation Section 1.409A-3(i)(1)(iv). 
 6.4 Arbitration. Executive shall have the right to have settled by arbitration
any dispute or controversy arising in connection herewith. Such arbitration shall be conducted in accordance with the rules of the American Arbitration Association before a panel of three arbitrators sitting in a location selected by Executive.
Judgment may be entered on the award of the arbitrators in any court having proper jurisdiction. All expenses of such arbitration shall be borne by the Company in accordance with Section 6.3 hereof. 
 7 TERM 
 7.1 Initial Term. The term
of this Agreement shall be two years from the date hereof. 
 7.2 Renewal. The terms of this Agreement automatically shall be extended
for successive one-year terms unless canceled by the Company by written notice to Executive not less than six months prior to the end of any term. 
 7.3 Effect of Change in Control. Notwithstanding Sections 7.1 and 7.2 to the contrary, the Company may not cancel this Agreement following a Change in Control. 
 8 SUCCESSORS 
 8.1 This Agreement is personal to Executive and without the prior written
consent of the Company shall not be assignable by Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by Executive’s legal representatives. Executive may from
time to time designate in writing one or more persons or entities as primary and/or contingent beneficiaries of any Severance Benefit owing to Executive hereunder. 
  

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 8.2 This Agreement shall inure to the benefit of and be binding upon the Company and its successors and
assigns. 
 8.3 The Company shall require any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.
For purposes hereof, “Company” means the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law or otherwise. 
 9 MISCELLANEOUS 
 9.1 Heading. The
headings are not part of the provisions hereof and shall have no force or effect. 
 9.2 Notices. All notices and other communications
hereunder shall be in writing and shall be given by hand delivery or by registered or certified mail, return receipt required, postage prepaid, addressed as follows: 
  

			
	 if to the Company:
	  	Raytheon Company
		  	870 Winter Street
		  	Waltham, Massachusetts 02451
		  	Attention:     General Counsel
		
	 if to Executive:
	  	

 or to such other address as either party shall have furnished to the other in writing in accordance herewith.
Notice and communications shall be effective when actually received. 
 9.3 Severability. The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of any other provision hereof. 
 9.4 Compliance; Waiver.
Executive’s or the Company’s failure to insist upon strict compliance with any provision hereof or failure to assert any right hereunder, including without limitation the right of Executive to terminate employment for Good Reason pursuant
to Section 2.1 hereof, shall not be deemed to be a waiver of such provision or right or any other provision or right hereof. 
  

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 9.5 Employment Status. Executive and Company acknowledge that except as may otherwise be provided
under any other written agreement between Executive and the Company, the employment of Executive by the Company is “at will” and prior to a Change in Control may be terminated at any time by Executive or the Company. Following a Change in
Control, the provisions of this Agreement shall supersede any other agreement between the parties with respect to the subject matter hereof. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. 
 Raytheon Company 
  

							
	By:	 	  
	 		 	  

		 		 		 	Executive

  

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