Document:

EX-10.1

 Exhibit 10.1 
  

 
 December 13, 2013 

Personal and Confidential 

Ms. Laurie F. Gilner 
 9233 Weston Drive 

Brentwood, TN 37027 
 Re: Separation Agreement
and Release of Claims 
 Dear Laurie: 

This letter agreement (the “Agreement”) confirms our discussions regarding your separation from employment with C.R. Gibson, LLC
(the “Company”) effective December 2, 2013 (the “Separation Date”). You acknowledge that this Agreement constitutes the entire agreement and understanding between you and the Company relating to your separation from
employment and post-employment severance and benefits. There are no other valid oral or written agreements relating to the separation of your employment and post-employment severance and benefits, except as expressly provided in this Agreement. 

In connection with the separation of your employment, the Company is offering you severance payments (the “Severance Payments”),
medical and dental benefits (“Medical Benefits”), and a payment in lieu of outplacement services (“Outplacement Services”) (collectively, the “Severance Benefits”), subject to the terms and conditions specified in this
Agreement. You should read this Agreement carefully and consult with an attorney prior to signing this Agreement or the General Release of Claims (“Release”) attached to this Agreement. 

We have agreed as follows: 
 1.
Effective on the Separation Date, you resigned from each and every position you held with the Company, CSS Industries, Inc. (“CSS”), or any of their respective affiliates, including without limitation any position as an officer, director,
trustee or otherwise. At the Company’s request, from time to time and to the extent the Company deems the same necessary, you will promptly execute and deliver separate forms of resignations from each of these positions. 

2. The Company will not pay Severance Payments, and will not provide Medical Benefits and Outplacement Services, if the Company determines
that you engaged in any actions defined as “cause” under the Company’s severance plan in effect at the time of signing of this Agreement applicable to you (even if such determination is made following your Separation Date), or you
breach 

 Ms. Laurie F. Gilner 

December 13, 2013 
  Page
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any term of your Release, this Agreement, or other agreement relating to your employment. You acknowledge that there is no outstanding debt, obligation or other liability representing an amount
owed to the Company or its affiliates, including amounts owed on Company credit cards. 
 If you abide by and satisfy the terms and
conditions set forth in this Agreement, including without limitation executing, delivering and not revoking the attached Release to the Company in accordance with Paragraph 6 hereof, the Company will pay Severance Payments, and provide Medical
Benefits and Outplacement Services, subject to the provisions of this Agreement, as follows: 
 a) Severance Payments. You shall
receive Severance Payments of Six Thousand Five Hundred and Two Dollars and Fifty Cents ($6,502.50) per week, for a period of Fifty-Two (52) weeks, as measured from your Separation Date (the “Severance Period”). In addition, during
the Severance Period you shall receive payments of One Thousand Dollars ($1,000.00) per month for an automobile allowance (which payments, for purposes of this Agreement, shall be deemed to be included under the definition of “Severance
Payments”). If you satisfy the terms and conditions set forth in this Agreement, including the execution and nonrevocation of the Release, the first payment, which will cover the first thirty days of your severance, will be paid to you in a
lump sum cash payment on the first Company pay date for executives that occurs after the thirtieth (30th) day following the Separation Date, and the remaining installments will be paid to you on each successive pay date for executives in
accordance with the Company’s normal payroll practices for the remainder of the Severance Period. Each installment of the Severance Payments will be subject to and reduced by any requisite tax withholdings and any other then-applicable payroll
deductions. If you are rehired by the Company, CSS or any of their respective affiliates, and the Severance Payments you received exceeds the income you would have received if you had been working for the Company between your Separation Date and
date of rehire, you will be required to return the excess amount to the Company. 
 b) Medical Benefits. If you are eligible under
the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) to receive continuing medical and dental benefits under the Company-sponsored medical and dental benefit plans after your employment ends, and you elect health care continuation
coverage under COBRA following the termination of your employment, the Company will pay for a portion of the monthly COBRA premium, on the same basis as the Company pays for a portion of such coverage for active employees, for the period Severance
Payments are paid to you hereunder; provided, that in order to receive such continued coverage at such premium rates pursuant to this Agreement, you must pay to the Company, at the same time that COBRA premium payments are due for the month, an
amount equal to the full monthly COBRA premium payment required for such monthly coverage and the Company will reimburse to you the amount of such monthly premium, less the amount that you would have been required to pay for such coverage if you
were employed by the Company at such time (the “Health Payment”). In addition, on each such date on which the monthly Health Payment is paid to you, the Company will pay to you an additional amount equal to the federal, state and local
income and payroll taxes that you incur on the monthly Health Payment (the “Health Gross-Up Payment”). Your entitlement to the Health Payment and the Health Gross-Up Payment will continue until the earlier to occur of (i) the end of
the Severance Period, (ii) you cease to receive the Severance 

 Ms. Laurie F. Gilner 

December 13, 2013 
  Page
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Payments, or (iii) you do not pay the full monthly premium for COBRA coverage. If you satisfy the terms and conditions set forth in this Agreement, including the execution and nonrevocation
of the Release and the conditions of this subparagraph, the first payment, which will cover the Health Payment and Gross-Up Payment for the monthly premiums you paid prior to such date, will be paid to you in a lump sum cash payment on the first
Company pay date for executives that occurs after the thirtieth (30th) day following the Separation Date, and the remaining Health Payments and Gross-Up Payments, for the remainder of the
period you are entitled to these payments pursuant to this subparagraph, will be paid to you on the pay date for executives that occurs after the monthly premium is paid by you. Each Health Payment and Health Gross-Up Payment will be subject to and
reduced by any requisite tax withholdings and any other then-applicable payroll deductions. You will receive a letter describing in greater detail your eligibility for the continuation of your medical and dental benefits under COBRA. By signing this
Agreement, you agree that the Company may deduct your portion of the post-employment premiums from your Severance Payments. 
 c)
Outplacement Services. In lieu of providing you with outplacement services, you will receive a payment of Six Thousand Dollars ($6,000.00). If you satisfy the terms and conditions set forth in this Agreement, including the execution and
nonrevocation of the Release, the foregoing amount (subject to and reduced by any requisite tax withholdings) will be paid to you in a lump sum cash payment on the first Company pay date for executives that occurs after the thirtieth (30th) day
following the Separation Date. The Company will provide you with certain outplacement services for a period of up to six (6) months, to be provided by an outplacement consulting firm to be selected and engaged by the Company, in its sole
discretion. 
 3. Your rights with respect to any outstanding equity compensation awards, including without limitation stock option awards
and restricted stock unit awards (collectively, “Equity Grants”), made to you by CSS will terminate in accordance with the terms of the applicable plan and award documents or agreements. All of your outstanding Equity Grants previously
provided to you under CSS’ 2004 and 2013 Equity Compensation Plans that (i) are exercisable as of your Separation Date shall remain exercisable for the ninety (90) day period following your Separation Date (or the remaining term
thereof, if shorter) and shall terminate at the end of such period, and (ii) are not exercisable as of your Separation Date shall immediately terminate as of your Separation Date. 

4. The Severance Benefits described in this Agreement constitute the entire compensation that will be payable to you by the Company under this
understanding or otherwise. Following the Separation Date, except as expressly provided herein or pursuant to the terms of any benefits plans of the Company (other than severance plans) that provide benefits or payments to former employees according
to their terms, you will not be entitled or eligible to receive any form of compensation from or on behalf of Company, including by way of illustration, but not of limitation, salary, bonus, profit sharing contribution, automobile allowance and
accrued vacation pay. Notwithstanding the foregoing, you will be paid (regardless of whether or not you accept this Agreement and sign and deliver the attached Release) for any vacation time that has been earned, accrued and unused as of the
Separation Date. 

 Ms. Laurie F. Gilner 

December 13, 2013 
  Page
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 5. You and the Company agree as follows: 

a) Except as may be required by law, you agree that you shall at all times maintain the confidentiality of and shall not disclose to any third
party (including current and former employees of the Company, CSS or any of their respective affiliates) the terms of this Agreement. The foregoing shall not be construed to prohibit disclosure of this Agreement to your attorney, accountant or
members of your immediate family, provided that such individuals maintain the confidentiality of this Agreement. 
 b) You agree that as of
the Separation Date you will surrender possession to the Company of all CSS and/or Company keys, all CSS and/or Company documents, all CSS and/or Company credit cards and all other CSS and/or Company property that at any time was in your possession
and control. 
 c) You recognize and acknowledge that by reason of your employment by and service to the Company you have had access to
confidential information of the Company, CSS and their respective affiliates. This includes, without limitation, information and knowledge pertaining to products and services offered, inventions, innovations, designs, ideas, plans, trade secrets,
proprietary information, manufacturing, packaging, advertising, distribution and sales methods and systems, sales and profit figures, customer and client lists, and relationships between the Company, CSS and their respective affiliates and dealers,
distributors, wholesalers, customers, clients, suppliers and others who have business dealings with the Company and its affiliates (“Confidential Information”). You acknowledge that such Confidential Information is a valuable and unique
asset. You must not at any time disclose any such Confidential Information to any person for any reason whatsoever without the prior written authorization of the undersigned, or the undersigned’s successor or designee, unless such information
is in the public domain through no fault of your own, and except as may be required by law, and you acknowledge and agree that the Company’s continued provision to you of any Severance Benefits described in this Agreement is contingent upon
your full, complete and ongoing fulfillment of all of your covenants that you have made in favor of the Company, CSS and/or their respective affiliates, including without limitation the foregoing covenant regarding Confidential Information. 

d) You recognize and acknowledge that the covenants set forth in this Paragraph 5 are independent of and do not affect the efficacy of any
covenants that you have made in favor of CSS, the Company, and/or any of their respective affiliates, including without limitation any covenants set forth in your offer letter, dated July 26, 2010, as amended, and in any non-disclosure and
non-competition agreements you may have executed with the Company and/or CSS (which shall continue to apply in all respects, unless specifically inconsistent with the terms of this Agreement). 

6. You must sign and deliver this Agreement and the attached Release to the Company’s Human Resources Department within twenty-one
(21) days after your Separation Date. By signing the Release and delivering it to the Company, you will waive all claims that you may have against the Company, CSS and their respective affiliates, excepting only a claim for non-receipt of any
Severance Benefits to which you may be entitled under this Agreement. You are advised to consult with an attorney of your choice before signing and returning the Release.  

 Ms. Laurie F. Gilner 

December 13, 2013 
  Page
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 You will have the right to revoke the Release, at any time within seven (7) days after
you have signed and returned this Agreement and the Release to the Company’s Human Resources Department (the “Revocation Period”). If you exercise your right to revoke the Release, this Agreement will be void, you will not be entitled
to any Severance Benefits, and upon demand you will pay back to the Company the full amount of any Severance Benefits which were paid to you or for your benefit under this Agreement. 

7. This Agreement shall be governed by and construed in accordance with the substantive laws of the State of Tennessee. If any portion of the
Release is found to be legally invalid and/or unenforceable, this entire Agreement shall be voidable in its entirety, at the sole discretion of the Company. In the event the Company exercises its right to void this Agreement as just described, you
will not be entitled to receive any Severance Benefits. 
 8. The provisions of this Agreement may be amended or modified only with the
written agreement of both parties hereto. The Company shall not be deemed to have waived any provision of this Agreement unless expressly waived by the Company in writing. 

9. You represent and acknowledge that: 

a) The Company has advised you to consult with an attorney as to this Agreement and the Release prior to signing these
documents; 
 b) The Severance Benefits provided to you under this Agreement are subject to applicable taxes and
withholdings, and neither the Company, CSS nor any of their respective affiliates makes or has made any representation, warranty or guarantee of any federal, state or local tax consequences of your receipt of any benefit or payment hereunder,
including, but not limited to, under Section 409A of the Internal Revenue Code of 1986, as amended, and the Company may withhold from all amounts payable to you under this Agreement such amounts that are necessary to satisfy the Company’s
withholding obligations to you, and you are solely responsible for all taxes that result from your receipt of the amounts payable to you under this Agreement; and 

c) You have read and fully understand the terms and conditions of this Agreement and acknowledge that your execution of this
Agreement constitutes your voluntary act and will. 

 Ms. Laurie F. Gilner 

December 13, 2013 
  Page
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 If this Agreement accurately and completely describes our mutual understanding, please
indicate your acceptance of this Agreement by signing below and returning this Agreement to me within twenty-one (21) days after your last day of employment. 
  

											
		 		 		 	Sincerely,
				
		 		 		 	C.R. Gibson, LLC (“Company”)
					
		 		 		 	By:	 	 /s/ Christopher J. Munyan

		 		 		 		 	Christopher J. Munyan
		 		 		 		 	Chairman and Chief Executive Officer
				
	Witness to Employee’s Signature:	 		 		 	Agreed and Accepted:
				
	 /s/ Jeff Gilner
	 		 		 	 /s/ Laurie F. Gilner

	Witness signature	 		 		 	Laurie F. Gilner
						
	Print Name:	 	 Jeff Gilner
	 		 		 	Date:	 	 12-17-13

 ATTACHMENT 

GENERAL RELEASE OF CLAIMS 

I agree to and hereby do, intending to be legally bound, release and forever discharge C.R. Gibson, LLC, and its parent, affiliates, and
related companies, including without limitation CSS Industries, Inc., their past, present and future officers, directors, attorneys, employees, shareholders and agents and their respective successors and assigns (jointly and severally, the
“Company”) from any and all actions, charges, causes of action or claims of any kind, known or unknown, which I, my heirs, agents, successors or assigns ever had, now have or hereafter may have against the Company arising out of any
matter, occurrence or event existing or occurring prior to my signing of this release, including without limitation any claim relating to or arising out of my employment with and/or termination of employment by the Company, any claim of
discrimination based on age, sex, race, religion, color, creed, disability, citizenship, national origin or any other factor prohibited by federal, state or local law (including any claims under the Age Discrimination in Employment Act (“ADEA
Rights”), Title VII of the Civil Rights Act of 1964, the Americans With Disabilities Act (“ADA”), the Employment Retirement Security Act of 1974 (“ERISA”), the Tennessee Fair Employment Practices Law, the Tennessee Equal Pay
Law, the Tennessee Disability Act or the Tennessee Whistleblower Law), any claim for breach of contract, and/or any common law claim such as libel, slander, fraud, promissory estoppel, equitable estoppel, misrepresentation or wrongful discharge.
Excluded from this general release are only: (i) any claim which I may have against the Company for non-payment of the Severance Payments, Medical Benefits, and/or Outplacement Services due to me under the terms of the attached Agreement
between the Company and me; and (ii) any claim which arises out of any matter, occurrence or event occurring exclusively after I sign and return this Release. 

I agree to the terms in this Release and understand them. I acknowledge that the Company has advised me to consult with an attorney concerning
the effect of this general release. I acknowledge that I have been told by the Company that I will receive no payments under the attached Agreement, or any other consideration, if I do not execute this general release of all claims and deliver it to
the Company no later than twenty-one (21) days after my last day of employment with the Company. I also understand that I have seven (7) days after signing and delivering this general release to revoke it, in which case the Company will
have no obligation to me under the terms of the attached Agreement. I acknowledge that I have been told by the Company that I will receive no payments or any other consideration under the attached Agreement if at any time after I sign this general
release I revoke it, or if the general release does not remain in full force and effect. 
  

									
	Employee’s Signature:	  	 /s/ Laurie F. Gilner
	 		  	Date:	  	 12-17-13

		  	Laurie F. Gilner	 		  		  	
					
	Witness Signature:	  	 /s/ Jeff Gilner
	 		  	Date:	  	 12-17-13

	Print Name:	  	 Jeff GilnerEX-10.1

 Exhibit 10.1 

RETIREMENT AGREEMENT 

This Retirement Agreement (the “Agreement”) is made by and between L. Hugh Redd (“Executive” or
“you”) and General Dynamics Corporation (the “Company”) (together, the “Parties”). 
 WHEREAS,
Executive has been employed by the Company as Senior Vice President and Chief Financial Officer and has held responsibilities as an officer and director of various Company subsidiaries; 

WHEREAS, the Company has provided Executive with the option to retire in exchange for certain retirement benefits; 

WHEREAS, Executive desires to accept the Company’s offer of retirement benefits and retire from his position and responsibilities
effective as set forth herein; and 
 WHEREAS, the Executive and the Company wish to confirm the terms under which the Executive will
transition into retirement and the employment relationship between them will conclude. 
 NOW, THEREFORE, in consideration of the mutual
covenants set forth herein and for other good and valuable consideration, receipt of which is hereby acknowledged, Executive and the Company hereby agree as follows: 
  

	1.	Retirement. 

 (a) Resignation and Retirement Date. Executive has elected to
retire and hereby resigns from his position as Senior Vice President and Chief Financial Officer of the Company, and from all other positions, titles, duties, authorities, and responsibilities with, arising out of, or relating to the
Executive’s employment with the Company and its affiliates, effective as of December 31, 2013 (the “Retirement Date”). The Executive further agrees to execute all additional documents and take such further steps as may be
required to effectuate such resignation. From and after the Retirement Date, there shall be no further employment relationship between Executive and either the Company or any of its subsidiaries or affiliates. 

(b) Base Salary and Accrued Obligations. Executive will continue to be paid at his current base salary through the Retirement Date. On
the first regular payroll date following the Retirement Date, the Company shall pay Executive all base salary earned but unpaid as of the Retirement Date and the value of all vacation earned but not used prior to the Retirement Date. 

(c) Annual Bonus. The amount of Executive’s cash bonus award, if any, under the Company’s Executive Compensation Program for
service during 2013 will be calculated in accordance with the Company’s usual practice based on individual and Company performance and will be paid to Executive on or before March 15, 2014. 

(d) Benefits Participation and Continued Insurance Coverage. As of the Retirement Date, Executive shall cease to be an active
participant in the benefit plans and programs and incentives offered by the Company to its employees and executives, with the sole exception that Executive may continue to receive the insurance and other benefits described in this Section 1(d)
and, subject to execution of this Agreement, the Retirement Incentives in Section 2. 

 (i) Group Term Life Insurance. After the Retirement Date, Executive is eligible to
continue his group term life insurance under the Company’s policies (at levels not to exceed two times Executive’s last base salary) by paying the appropriate premiums, subject to reduction factors established in those policies and to the
other terms of the Company’s policies in effect from year to year. 
 (ii) Personal Liability Umbrella Coverage.
Executive’s coverage under the personal excess liability insurance made available to officers will continue through June 5, 2014, when the current policy period ends. Thereafter, Executive may continue such coverage subject to the terms of
the Company’s policies as in effect from year to year. Executive will pay the applicable premiums for coverage beyond the current policy period, provided that Executive will not be eligible to renew coverage once he has commenced employment
with a new employer or has allowed coverage to lapse. 
 (e) Retirement Benefits. Executive’s vested benefits under the General
Dynamics Salaried Retirement Plan (the “Pension Plan”) and the General Dynamics Corporation Supplemental Retirement Plan (the “SERP”) will be provided to Executive in accordance with the terms of those plans, as augmented
by Section 2(a) below. The Executive’s account under the General Dynamics Corporation Supplemental Savings Plan (the “Supplemental SSIP”) shall continue to be subject in all respects to the terms and conditions of the
Supplemental SSIP. 
 (f) Automobile. On or before the Retirement Date, Executive may purchase the automobile provided to him by the
Company by paying the lease option purchase amount. In the alternative, Executive shall return the automobile to the Company on or before the Retirement Date. 
  

	2.	Retirement Incentives. 

 In exchange for Executive’s promises in this Agreement, and
contingent upon Executive’s valid execution of this Agreement and expiration of the revocation period allowed by Section 7(c), the Company will provide Executive with the retirement incentives described in this Section 2 (the
“Retirement Incentives”). 
 (a) Pension Enhancement. The calculation of Executive’s benefits under the Pension
Plan and the SERP will include an additional five years and eight months of credit toward the Executive’s age, as well as an additional five years and eight months of both credited and continuous service (with such additions referred to herein
as the “Pension Enhancement”). Payments of benefits attributable to the Pension Enhancement will be a nonqualified deferred compensation benefit paid as an annuity in accordance with the terms of the SERP. The Pension Enhancement shall be
calculated using Executive’s actual eligible compensation under the terms of the Pension Plan and the SERP and using the terms of these plans in effect as of the date of this Agreement. The timing and form of payments will follow
Section 3.05 and 3.08 of the SERP and the other applicable sections of the SERP. In accordance with those terms, no payments will be made during the first six months immediately following the Retirement Date. 

(b) Medical, Dental and Vision Insurance. During the period beginning on the Retirement Date and ending on December 31,
2014, Executive and his eligible dependents may continue to participate in the Company’s medical, dental, and vision insurances in which they participate immediately before the Retirement Date at the active employee rate for such coverage 

  
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as in effect from time to time. After December 31, 2014, Executive may elect to continue medical, dental and vision insurance coverage for himself and his eligible dependents, at the
Executive’s cost, to the extent provided in, and subject to the applicable terms and conditions of, Section 4980B of the Internal Revenue Code of 1986, as amended (the “Code”) and Section 601 of the Employee
Retirement Income Security Act of 1974, as amended (which provisions are commonly known as “COBRA”). Once the COBRA maximum continuation period expires, the Company will allow Executive and his spouse each to continue independently to
participate in its group health plans at the full COBRA rate in effect for the coverage tier elected (e.g., single or employee-plus-spouse) until each reaches age 65. All coverage will be subject to any plan amendments or changes that are
made in plan design, coverage, offerings, premiums, deductibles, co-pays or plan administration during the relevant time period. 
 (c)
Outstanding Equity Awards. The Executive has been granted shares of restricted stock (the “Restricted Stock”), performance restricted stock units (the “Performance RSUs”) and stock options (the “Stock
Options”) pursuant to the General Dynamics Corporation 2009 Equity Compensation Plan and the General Dynamics Corporation 2012 Equity Compensation Plan (each, an “EC Plan,” and together, “the EC Plans”). A
summary of the previous grants of Restricted Stock, Performance RSUs, and Stock Options that remain outstanding as of the date of this Agreement are listed on Attachment A to this Agreement. Consistent with the terms of the EC Plans, these
grants shall be subject to the Adjusted Release Dates and Adjusted Expiration Dates shown on Attachment A. 
 (i) Non-Forfeiture at
Termination. Operation of the provisions of the EC Plans and the award agreements accepted by Executive as a condition of each grant, which otherwise would cause unvested grants of Restricted Stock, Performance RSUs, and Stock Options referenced
in Attachment A to be forfeited upon retirement or termination of employment are hereby suspended as to Executive. 
 (ii) Award
Agreements. Except to the extent modified by the foregoing provisions of this Section 2(c), the provisions of the applicable EC Plans and award agreements shall continue to apply to the Restricted Stock, Performance RSUs, and Stock Options
referenced on Attachment A, including, without limitation, any provision regarding adjustment of an award following a Performance Period, or providing for forfeiture of an applicable award by the Executive in the event that the Executive causes
“Harm” to the Company. Nothing contained herein or in Attachment A shall confer any right or entitlement that has not been properly approved or authorized by the Compensation Committee of the Board of Directors of General Dynamics
Corporation. 
 (d) Financial and Tax Counseling. The Company will provide Executive with financial and tax counseling through the
Ayco Company until April 15, 2015. The value of the services will be approximately $15,000 for 2014 and $4,375 for January 1 to April 15, 2015. 
  

	3.	General Release of Claims. 

 (a) Release and Released Parties. In exchange for the
Retirement Incentives described in Section 2, and subject only to the exclusions of Section 3(b) below, Executive hereby RELEASES the Company, its parents, shareholders, subsidiaries, affiliates, predecessors, successors, assigns,
related companies or entities, its and their employee benefit plans and administrators, and any and all of its and their respective current and former officers, 

  
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directors, partners, insurers, agents, representatives, attorneys, accountants, actuaries, trustees, fiduciaries, and employees (the “Released Parties”) from any and all claims,
demands or causes of action which Executive or Executive’s heirs, executors, administrators, agents, attorneys, representatives or assigns (all collectively included in the term “Executive” for purposes of this release), has, had, or
may have against any of the Released Parties, based on any events or circumstances arising or occurring on or before the date of Executive’s execution of this Agreement, including, but not limited to, any claims relating to Executive’s
employment or termination of employment, and any rights of continued employment, reinstatement or reemployment with any of the Released Parties. For the avoidance of doubt, and subject only to the exclusions in Section 3(b) of this Agreement,
Executive expressly agrees, understands, and acknowledges that this is a general release that, to the fullest extent permitted by law, waives, surrenders, and extinguishes any and all claims that Executive has or may have against any
of the Released Parties, including, but not limited to, the following: 
 (i) any claim(s) under Title VII of the Civil Rights Act of 1964,
the Civil Rights Act of 1991, the Age Discrimination in Employment Act (“ADEA”), the Americans with Disabilities Act, the Equal Pay Act, the Employee Retirement Income Security Act (“ERISA”), the Family and Medical Leave
Act, the False Claims Act, the Sarbanes-Oxley Act, the Genetic Information Nondiscrimination Act, the Health Insurance Portability and Accountability Act, 42 U.S.C. § 1981, or the WARN Act; 

(ii) any claim(s) under any other applicable federal, state, or local or foreign law, statute, regulation, or ordinance regarding
discrimination, harassment, retaliation, or any other subject matter; 
 (iii) any claim(s) for breach of contract, wrongful discharge,
unjust dismissal, defamation, slander, libel, fraud, misrepresentation, negligence, intentional or negligent infliction of emotional distress; or 

(iv) any other claim for damages or other relief arising under the common law or any theory of law or equity, including any claim for costs or
attorney’s fees. 
 (b) Claims Not Released. The claims released in Section 3(a) of this Agreement do not include any claim
or cause of action based on any of the following: (a) the right to vested benefits under any pension or retirement plan; (b) the right to continued benefits as required by COBRA; (c) any right to receive workers’ compensation
benefits or unemployment insurance as required by applicable law; (d) the right to challenge the validity or enforceability of this Agreement under the Older Workers Benefit Protection Act (“OWBPA”); (e) any claim to enforce the
terms of this Agreement; or (f) any claim which cannot be waived as a matter of law. For the avoidance of doubt, nothing herein waives or releases any claim that may arise after the Effective Date. 

(c) Permitted Conduct. Nothing in this Agreement prohibits Executive from filing a charge with the Equal Employment Opportunity
Commission (“EEOC”) or any other government agency, nor does anything in this Agreement prohibit Executive from participating, cooperating, or testifying in any investigation or proceeding conducted by or pending before the EEOC or any
other any government agency. The Retirement Incentives provided to Executive under Section 2 shall be the sole financial benefit that Executive is entitled to get for any of the claims that Executive is releasing under Section 3.
Therefore, even though Executive can 

  
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provide testimony or information or assistance in an investigation or in proceedings described in this Section 3(c), Executive’s participation therein will not entitle Executive to
additional compensation from the Company or any of the Released Parties. In fact, if Executive is awarded any monetary relief in connection with any lawsuit, legal proceeding, charge or complaint, that relief will be reduced by any amounts paid or
payable by the Company under this Agreement. 
  

	4.	Officer Liability 

 (a) Indemnification. The Company hereby agrees and
acknowledges that the Executive is, and shall continue to be, entitled to indemnification and reimbursement in accordance with Article Twelfth of the Company’s Restated Certificate of Incorporation, which was adopted on October 6, 2004.

 (b) D&O Insurance. After the Retirement Date, Executive will continue to be covered by directors’ and officers’
insurance with respect to the period of his service as an officer or director of the Company under the Company’s directors’ & officers’ insurance policies in amounts of coverage and terms and conditions at least as favorable
as the amounts of coverage and terms and conditions applicable to the Company’s then current directors and officers. 
  

	5.	Confidentiality, Intellectual Property, and Company Property. 

 (a) Confidential
Information. Executive shall not use, disclose, divulge, furnish or make available to any person any confidential or proprietary information concerning the Company or its affiliates, including, without limitation, business plans, strategies,
proposals, forecasts, processes, methods, techniques; financial information on costs, pricing, profits, overhead, or margins; acquisition or divestiture plans, designs or drawings, research or development activities, and any other information
concerning the plans or methods of doing business of the Company or its affiliates (the “Confidential Information”); provided, that the term “Confidential Information” shall not include such information which is or
becomes generally available to the public other than as a result of unauthorized or improper disclosure by the Executive or any third party. Notwithstanding the foregoing, the Executive may disclose Confidential Information to the extent he is
compelled to do so by lawful service of process, subpoena, court order, or as he is otherwise compelled to do by law or the rules or regulations of any regulatory body or governmental agency or instrumentality to which he is subject, including full
and complete disclosure in response thereto, in which event he agrees (unless prohibited by law) to provide the Company with a copy of the documents seeking disclosure of such information promptly upon receipt of such documents and prior to the
disclosure of any such information, so that the Company may, upon notice to the Executive, take such action as the Company deems appropriate in relation to such subpoena or request, and the Executive (unless otherwise compelled to do so by lawful
service of process, subpoena, court order, or by law or the rules or regulations of any regulatory body or governmental agency or instrumentality) may not disclose any such information until the Company has had the opportunity to take such action.

 (i) Executive agrees that he will return to the Company not later than the Retirement Date all originals, copies, and versions of
Confidential Information in whatever form (including computer files and other electronic data) in his possession and will cease using such information as of such date. 

  
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 (ii) Executive shall not directly or indirectly assist any other person or entity competing in a
government procurement involving a Company subsidiary or affiliate (“the GD Bidder”) if, with respect to such procurement, Executive during his employment with the Company (A) reviewed or was provided material information
relating to the GD Bidder’s bid or proposal information or (B) reviewed or approved the GD Bidder’s bid or proposal. 
 (b)
Intellectual Property. All writing or other works subject to copyright and, whether patentable or not, every invention, discovery, improvement, device, design, apparatus, practice, process, method or product (each of which is hereinafter
called an “invention”), created, written, made, developed, perfected, devised, conceived or first reduced to practice by the Executive, either solely or in collaboration with others during his employment by the Company and its affiliates,
whether or not during regular working hours, relating in any way to the business, products, developments or activities of the Company and its affiliates, are the sole and exclusive property of the Company and its affiliates. To the extent that the
Company and its affiliates or the Executive was, is, or will be involved in agreements or arrangements with the United States Government or agencies or instrumentalities thereof, Executive agrees that he was, is and will be bound by all obligations,
restrictions, and limitations imposed by contract, law or regulation, applicable to any invention conceived or developed, or to any writing or other work acquired, written or produced by the Executive during the period of his employment with the
Company and its affiliates, and shall take all action which may be required to discharge such obligations and to comply with such restrictions and limitations. 

(c) Company Property. On or before the Retirement Date, Executive will return to the Company all property belonging to the Company,
except that Executive may retain for his personal use the Company-issued iPhone and iPad issued to Executive during his employment. The Company will coordinate the transfer of Executive’s current mobile number to Executive’s new provider.

  

	6.	Post-Retirement Assistance. 

 (a) Cooperation in Litigation or
Investigations. If requested and upon reasonable advance notice to the Executive, Executive will provide full cooperation to the Company in connection with the investigation or litigation of matters about which Executive had personal
knowledge during his employment with the Company. This cooperation will include, but is not limited to, consulting with counsel, reviewing documents, and attending meetings, depositions, or hearings and, wherever possible, shall be arranged so as
not to unreasonably conflict with other business or personal demands on Executive’s time. To compensate Executive for the time, effort, and inconvenience entailed, the Company will pay Executive an hourly fee of $380.00 per hour for support
provided (up to a maximum of eight hours per day), plus reimbursement for expenses incurred at the direction of the Company or its counsel. No compensation under this section is tied to achievement of any particular litigation or settlement result
or the nature of the testimony that Executive provides at a hearing, trial, or deposition.  
 (b) In no event will the level of
post-retirement assistance to be provided by Executive under this Section 6 be more than twenty percent (20%) of the average level of services performed by Executive over the prior 36 months of his employment. On a weekly basis, the
parties do not expect that the services would exceed an average of eight hours of work per week. Executive’s services under this Section 6 shall be performed solely on an independent contractor basis and will be reported to the IRS on an
IRS Form 1099-Misc. 

  
 6 

	7.	OWBPA Disclosures, Acceptance and Revocation. 

 (a) Because you are an employee who is 40
years of age or older, the Older Workers Benefit Protection Act (“OWBPA”) requires that the Company provide you with the following disclosures to ensure that your release and waiver of claims arising under the Age Discrimination in
Employment Act (“ADEA”) are knowing and voluntary: 
 (i) By signing (and not revoking) this Agreement, you are permanently
giving up, surrendering, and waiving any claim that any of the Released Parties subjected you to discrimination or harassment because of your age, took any other adverse action against you because of your age, or violated any other provision of the
ADEA in connection with your employment or termination from employment; 
 (ii) Because signing this Agreement affects important legal
rights, you are hereby advised to consult with an attorney prior to executing this Agreement; 
 (iii) To ensure that you have
sufficient time to consider the Agreement carefully, you have twenty-one (21) days before you must return a signed original of this Agreement; and 

(iv) Once you sign the Agreement, you will have another seven (7) days in which to revoke the Agreement if you change your mind. 

(b) Acceptance. You may accept this Agreement by delivering a signed original of the Agreement to Walter M. Oliver, Senior Vice
President, General Dynamics Corporation, 2941 Fairview Park Drive, Suite 100, Falls Church, Virginia 22042 on or before twenty-one (21) calendar days from the date you receive this Agreement. You may decide to sign the Agreement before the
21-day review period expires, provided, however, that your signing the Agreement will be final and binding upon you, unless you revoke the Agreement within the Revocation period referenced below. 

(c) Revocation. You may revoke this Agreement within seven (7) calendar days after you execute the Agreement by delivering a
written notice of revocation to Walter M. Oliver, Senior Vice President, General Dynamics Corporation, 2941 Fairview Park Drive, Suite 100, Falls Church, Virginia 22042. The revocation must be received no later than the close of business on
the seventh (7th) calendar day after you sign this Agreement. This Agreement will not become effective or enforceable until the eighth (8th) calendar day after you sign it (“the Effective Date”). If you revoke this
Agreement within the 7-day revocation period or fail to return an executed original within the required 21-day timeframe, the Parties shall have no obligations under this Agreement, and this Agreement shall be considered null and void. 

 

	8.	General Provisions 

 (a) Disputes. Any dispute, controversy, or claim which is not
released under Section 3(a) above and which arises out of or in connection with the employment relationship between the Parties or the termination of that relationship or arising out of or in connection with this

  
 7 

 
Agreement, including any question regarding the existence, validity or termination of this Agreement, other than a dispute, controversy or claim with respect to the Executive’s
indemnification rights, shall be finally resolved by arbitration under the employment arbitration rules of the American Arbitration Association in force as of the date of this Agreement, which rules are deemed to be incorporated by reference into
this clause. The place of arbitration shall be Fairfax County, Virginia. Any determination by the Company that the Executive is not entitled to indemnification (including, without limitation, any determination pursuant to Section 2 of Article
Twelfth of the Current Certificate) may be challenged by the Executive in the federal or state courts of Delaware. 
 (b)
Withholding. The Company may withhold from any amounts payable to Executive hereunder all federal, state, city or other taxes that the Company may reasonably determine are required to be withheld pursuant to any applicable law or regulation
(it being understood that Executive shall be responsible for payment of all taxes in respect of the payments and benefits provided herein). 

(c) Complete Agreement. This Agreement and Attachment A hereto constitute the entire understanding of the Company and the Executive
with respect to the subject matter hereof and, together with the Invention, Copyright and Secrecy Agreement and the Private and Proprietary Information Agreement signed by Executive on or about May 31, 2006, and the award agreements accepted by
Executive as a condition of each grant of Restricted Stock, Performance RSUs, or Stock Options, shall supersede all prior understandings, written or oral, except to the extent of any provision expressly incorporated herein. Neither of the Parties is
executing this Agreement in reliance upon any statement or representation not expressly set forth or incorporated herein. 
 (d)
Amendment; Waiver. The terms of this Agreement may be changed, modified or discharged only by a written instrument signed by the Parties. A failure of the Company or the Executive to insist on strict compliance with any provision of this
Agreement shall not be deemed a waiver of such provision or any other provision hereof. 
 (e) Non-Admission. This Agreement does not
constitute and shall not be construed as an admission by the Company or any of the Released Parties that any of them has violated any law, interfered with any rights, breached any obligation or otherwise engaged in any improper or illegal conduct
with respect to Executive, and the Company expressly denies that it has engaged in any such conduct. 
 (f) Construction of
Agreement. Each party has negotiated the terms and provisions of this Agreement and has had the opportunity to contribute to its revision. The terms of this Agreement shall be construed fairly and evenly as to both Parties hereto and not in
favor or against either party based on the characterization of one or the other as the drafting party. 
 (g) Choice of Law. This
Agreement shall be construed, enforced and interpreted in accordance with and governed by the laws of the Commonwealth of Virginia (except as to matters pertaining to the Executive’s rights with respect to indemnification, and the enforcement
of such rights, which shall be construed, enforced and interpreted in accordance with and governed by the laws of the State of Delaware), without regard to its choice-of-law principles. 

  
 8 

 (h) Successors and Assigns. This Agreement is binding upon, and shall inure to the benefit
of, the parties and their respective heirs, successors and assigns, it being acknowledged and agreed that the obligation of the Executive to provide personal services to the Company shall not be assignable by him. 

(i) Section 409A. The intent of the Parties is that any payments and benefits under this Agreement that are subject to
Section 409A of the Code comply with the requirements of Section 409A of the Code and any related regulations and other guidance promulgated with respect to such Section by the U.S. Department of the Treasury or the Internal Revenue
Service. Accordingly, to the maximum extent permitted, this Agreement shall be interpreted and administered in compliance therewith. All expense reimbursements paid pursuant to this Agreement that are taxable income to the Executive shall in no
event be paid later than the end of the calendar year next following the calendar year in which the Executive incurs such expense. With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except
as permitted by this Agreement and Section 409A of the Code, the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit and the amount of expenses eligible for reimbursement, or in-kind
benefits provided, during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year. For purposes of applying the provisions of Section 409A of the Code to this
Agreement, each separately identified amount to which the Executive is entitled under this Agreement shall be treated as a separate payment. In addition, to the extent permissible under Section 409A of the Code, any series of installment
payments under this Agreement shall be treated as a right to a series of separate payments. In no event shall the Company be liable to Executive for any adverse tax consequences arising under Section 409A. 

IN WITNESS WHEREOF, the parties hereto have duly caused this Agreement to be executed as of the dates and years indicated below. 

 

			
	GENERAL DYNAMICS CORPORATION:
		
	By:	 	 /s/ Walter M. Oliver

		 	Walter M. Oliver, Senior Vice President Human Resources & Administration
		
	Date:	 	 December 20, 2013

	
	EXECUTIVE:
	
	 /s/ L. Hugh Redd

	L. Hugh Redd
		
	Date:	 	 December 20, 2013

  
 9 

 Attachment A 

Hugh Redd Executive Compensation Stock Plan Analysis 

Termination Reason: Retirement – No Forfeiture 

Termination Date: 12/31/2013 

Report Date: 11/26/2013 

Restricted Stock Outstanding: 
  

																									
	 Grant Date
	  	Grant
Price	 	  	Shares	 	  	Release
Date	 	  	Shares
Adjusted
for Term.	 	  	Final
Shares	 	  	Adjusted
Release
Date	 
	 3/3/2010
	  	$	73.49	  	  	 	10,440	  	  	 	1/2/2014	  	  	 	0	  	  	 	10,440	  	  	 	1/2/2014	  
	 3/2/2011
	  	$	74.81	  	  	 	11,010	  	  	 	1/2/2015	  	  	 	0	  	  	 	11,010	  	  	 	1/2/2015	  
	 3/7/2012
	  	$	71.01	  	  	 	9,140	  	  	 	1/4/2016	  	  	 	0	  	  	 	9,140	  	  	 	1/4/2016	  
	 3/6/2013
	  	$	67.70	  	  	 	6,900	  	  	 	1/3/2017	  	  	 	0	  	  	 	6,900	  	  	 	1/3/2017	  

 Performance Restricted Units Outstanding: 

 

																									
	 Grant Date
	  	Grant
Price	 	  	Units	 	  	Release
Date	 	  	Units
Adjusted
for Term.	 	  	Final
Units*	 	  	Adjusted
Release
Date	 
	 3/6/2013
	  	$	67.70	  	  	 	6,996.015	  	  	 	1/3/2017	  	  	 	0.000	  	  	 	6,996	  	  	 	1/3/2017	  

  

	*	Pending Performance Adjustment in February 2014 (assumes 100% payout) 

 Stock Options Outstanding:

  

																																	
	 Grant Date
	  	Grant
Price	 	  	Option
Type	 	  	Options	 	  	Original
Vest Date	 	  	Original
Exp. Date	 	  	Options
Adjusted
for Term.	 	  	Final
Options	 	  	Adjusted
Exp. Date	 
	 3/3/2010
	  	$	73.49	  	  	 	NQ	  	  	 	51,050	  	  	 	3/3/2011	  	  	 	3/2/2015	  	  	 	0	  	  	 	51,050	  	  	 	3/2/2015	  
	 3/3/2010
	  	$	73.49	  	  	 	NQ	  	  	 	49,690	  	  	 	3/3/2012	  	  	 	3/2/2015	  	  	 	0	  	  	 	49,690	  	  	 	3/2/2015	  
		  				  				  	  
	  
	 	  				  				  	  
	  
	 	  	  
	  
	 	  			
		  				  				  	 	100,740	  	  				  				  	 	0	  	  	 	100,740	  	  			
	 3/2/2011
	  	$	74.81	  	  	 	NQ	  	  	 	52,660	  	  	 	3/2/2012	  	  	 	3/1/2018	  	  	 	0	  	  	 	52,660	  	  	 	12/31/2016	  
	 3/2/2011
	  	$	74.81	  	  	 	NQ	  	  	 	52,660	  	  	 	3/2/2013	  	  	 	3/1/2018	  	  	 	0	  	  	 	52,660	  	  	 	12/31/2016	  
		  				  				  	  
	  
	 	  				  				  	  
	  
	 	  	  
	  
	 	  			
		  				  				  	 	105,320	  	  				  				  	 	0	  	  	 	105,320	  	  			
	 3/7/2012
	  	$	71.01	  	  	 	NQ	  	  	 	48,830	  	  	 	3/7/2013	  	  	 	3/6/2019	  	  	 	0	  	  	 	48,830	  	  	 	12/31/2016	  
	 3/7/2012
	  	$	71.01	  	  	 	NQ	  	  	 	48,830	  	  	 	3/7/2014	  	  	 	3/6/2019	  	  	 	0	  	  	 	48,830	  	  	 	12/31/2016	  
		  				  				  	  
	  
	 	  				  				  	  
	  
	 	  	  
	  
	 	  			
		  				  				  	 	97,660	  	  				  				  	 	0	  	  	 	97,660	  	  			
	 3/6/2013
	  	$	67.70	  	  	 	NQ	  	  	 	52,980	  	  	 	3/6/2014	  	  	 	3/5/2020	  	  	 	0	  	  	 	52,980	  	  	 	12/31/2016	  
	 3/6/2013
	  	$	67.70	  	  	 	NQ	  	  	 	52,980	  	  	 	3/6/2015	  	  	 	3/5/2020	  	  	 	0	  	  	 	52,980	  	  	 	12/31/2016	  
		  				  				  	  
	  
	 	  				  				  	  
	  
	 	  	  
	  
	 	  			
		  				  				  	 	105,960	  	  				  				  	 	0	  	  	 	105,960	  	  			

 This document is for estimation purposes only; actual numbers may vary

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