Document:

Unassociated Document

    Exhibit
      10.1

    ENERGENX,
      INC.

    1999 STOCK
      OPTION PLAN

    (Adopted
      by the Board of Directors on October 7, 1999)

    (Approved
      by the Stockholders on October 7, 1999)

     

    
      
        	
                1.

              	
                Purpose.

              

      

       

    

    This
      1999
      Stock Option Plan is intended to encourage stock ownership in ENERGENX, INC.
      by
      the officers, directors, employees, consultants, and advisors of the Company
      or
      its affiliates in order to promote their interest in the success of the Company
      and to encourage their continued affiliation. All options granted under this
      1999 Stock Option Plan are intended to be either (a) Incentive Stock Options
      or
      (b) Non-Statutory Stock Options.

    

      
        	
                2.

              	
                Definitions.

              

      

    

    

    As
      used
      herein the following definitions shall apply:

    

    "Act"
      shall mean the Securities Exchange Act of 1934, as amended from time to
      time.

    

    “Advisor”
      shall mean an individual who provides bona fide services to the Company or
      Affiliate pursuant to a written contract.

    

    "Affiliate"
      shall mean any corporation defined as a "parent corporation" or a "subsidiary
      corporation" by Code Section 424(e) and (f), respectively.

    

    "Agreement"
      shall mean either a 1999 Incentive Stock Option Agreement or a 1999
      Non-Statutory Stock Option Agreement, embodying the terms of the agreement
      between the Company and the Optionee with respect to Optionee's
      Option.

    

    "Board"
      shall mean the Board of Directors of the Company.

    

    "Code"
      shall mean the Internal Revenue Code of 1986, as amended from time to
      time.

     

    "Company"
      shall mean ENERGENX, INC., a Nevada corporation.

    

    "Consultant"
      shall mean any person who is placed on the Company's Consultants List by
      the Board
      and
      who agrees in writing to be included thereon.

    

    "Disability"
      or "Disabled" shall mean the condition of being "disabled" within the meaning
      of
      Section 422(c)(6) of the Code or any successor provision.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    "Director"
      shall mean an individual member of the Board.

    

    “Disinterested
      Person” means a Non-Employee Director as defined in Rule 16b-3 of the Exchange
      Act of 1934, as amended.

    

    "Employee"
      shall mean any salaried employee of the Company or its Affiliates, including
      those employees who are officers of the Company or its Affiliates.

    

    "Fair
      Market Value" of Stock on a given date shall mean an amount per share as
      determined by the Board or its delegates by applying any reasonable valuation
      method determined without regard to any restriction other than a restriction
      that, by its terms, will never lapse. Notwithstanding the preceding, if the
      Stock is traded upon an established stock exchange, then the "Fair Market Value"
      of Stock on a given date per share shall be deemed to be the average of the
      highest and lowest selling price per share of the Stock on the principal stock
      exchange on which the Stock is then trading or, if there was no trading of
      the
      Stock on that day, on the next preceding day on which there was such trading;
      if
      the Stock is not traded upon an established stock exchange but is quoted on
      a
      quotation system, the "Fair Market Value" of Stock on a given date shall be
      deemed to be the mean between the closing representative "bid" and "ask" prices
      per share of the Stock on such date as reported by such quotation system or,
      if
      there was no trading of the Stock on that day, on the next preceding day on
      which there was such trading.

    

    "Incentive
      Stock Option" shall mean an option granted pursuant to the Plan that is
      designated by the Board or its delegates as an "Incentive Stock Option" and
      which qualifies as an incentive stock option under Section 422 of the Code
      or
      any successor provision.

    

    "Non-Statutory
      Stock Option" shall mean a stock option granted pursuant to the Plan that is
      not
      an Incentive Stock Option.

    

    "Option"
      shall refer to either an Incentive Stock Option or Non-Statutory Stock Option,
      or both, as the context shall indicate.

    

    "Optionee"
      shall mean the recipient of an Incentive Stock Option or a Non-Statutory Stock
      Option.

    

    "Option
      Price" shall mean the price per share of Stock to be paid by the Optionee upon
      exercise of the Option.

    

    "Option
      Stock" shall mean the total number of shares of Stock the Optionee shall
      be entitled
      to purchase pursuant to the Agreement.

    

    "Plan"
      shall mean this ENERGENX, INC. 1999 Stock Option Plan, as amended from time
      to
      time.

     

    
      
         

      

      
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    "Reporting
      Person" shall mean an Optionee who is required to file statements relating
      to
      his or her beneficial ownership of Stock with the SEC pursuant to Section 16(a)
      of the Act.

    

    "Rule
      16b-3" shall mean Rule 16b-3 (as amended from time to time), promulgated by
      the
      SEC under the Act, and any successor thereto.

    

    "SEC"
      shall mean the Securities and Exchange Commission.

    

    "Stock"
      shall mean the $0.001 par value Common Stock of the Company.

    

      
        	
                3.

              	
                Administration.

              

      

    

    

    The
      Plan
      shall be administered by the Board; provided, however, that the Board may
      delegate all or any part of its authority to administer the Plan in its entirety
      or, with respect to any group or groups of persons eligible to receive Options
      hereunder, to such committee as the Board shall in its sole discretion
      determine. Such committee shall be composed of not fewer than two members (the
      “Committee”), all of the members of which Committee shall be Disinterested
      Persons, if required. Any Disinterested Person shall comply with the
      requirements of Rule 16b-3. The Board or its Committee may adopt, amend and
      rescind such rules and regulations for carrying out the Plan and implementing
      agreements and take such actions as it deems proper. The interpretation,
      construction and application by the Board or its Committee of any of the
      provisions of the Plan or any Option granted thereunder shall be final and
      binding on the Company, all Optionees, their legal representatives, and any
      person who may acquire an Option directly from an Optionee by permitted
      transfer, bequest or inheritance. Reference to administrative acts by the Board
      in the Plan shall also refer to acts by its Committee, unless the context
      otherwise indicates. Whether or not the Board has delegated administrative
      authority, the Board has the final power to determine all questions of policy
      or
      expediency that may arise in administration of the Plan.

     

    
      
        	
                4.

              	
                Eligibility.

              

      

    

    

    Only
      Employees are eligible to receive Incentive Stock Options under the Plan.
      Employees, Officers, Directors, Consultants and Advisors of the Company or
      its
      Affiliates are eligible to receive Non-Statutory Stock Options under the
      Plan.

    

    No
      person
      shall be eligible to receive an Option for a larger number of shares than is
      recommended for him or her by the Board. Any Optionee may hold more than one
      Option (whether Incentive Stock Options, Non-Statutory Stock Options, or both,
      but only on the terms and conditions and subject to the restrictions set forth
      herein.

    

    
      
         

      

      
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    Incentive
      Stock Options granted to an Employee who owns stock at the time the Incentive
      Stock Option is granted, representing more than ten percent (10%) of the total
      combined voting power of all classes of stock of the Company and its Affiliates,
      shall be granted at an
      Option
      Price at least one hundred ten percent (110%) of the Fair Market Value of the
      Stock at the time
      the
      Incentive Stock Option is granted. In determining ownership of Stock by an
      Employee, the attribution standards set forth in Code Section 424(d) shall
      be
      applicable.

    

      
        	
                5.

              	
                Stock
                  Subject to the Plan.

              

      

    

     

    Options
      granted under the Plan shall be for shares of the Company's authorized but
      unissued or re-acquired Stock. The aggregate number of shares of Stock which
      may
      be subject to Options
      pursuant to the Plan shall not exceed one million (1,000,000) shares, unless
      adjusted by the Board pursuant to Paragraph 6(l). Stock issued under other
      stock
      option plans of the Company shall not be counted against the maximum number
      of
      shares that can be issued under the Plan.

    

    In
      the
      event that any outstanding Option expires or is terminated for any reason,
      the
      shares of Stock allocable to the unexercised portion of such Option may again
      be
      subject to an Option under the Plan.

    

    If
      an
      Optionee pays all or part of any Option Price with shares of Stock, the number
      of shares deemed to be issued to the Optionee (and counted against the maximum
      number of shares that can be issued under the Plan) shall be the number of
      shares transferred to the Optionee by the Company, less the number of shares
      transferred by the Optionee to the Company as payment. Stock issued on the
      exercise of an Option which is forfeited in accordance with the conditions
      contained in the grant by the Optionee after issuance shall be deemed to have
      never been issued under the Plan and, accordingly, shall not be counted against
      the maximum number of shares that can be issued under the Plan. Notwithstanding
      the terms of the previous two sentences, the maximum number of shares for which
      Incentive Stock Options may be issued under the Plan shall be one million
      (1,000,000) shares, subject to adjustment by the Board as provided under
      Paragraph 6(l), regardless of the fact that under the terms of the preceding
      sentences, a lesser number of shares is deemed
      to
      be issued pursuant to the exercise of Incentive Stock Options.

    

      
        	
                6.

              	
                Terms
                  and Conditions of
                  Options.

              

      

    

     

    The
      Board
      or its delegates shall authorize the granting of all Options under the Plan
      with
      such Options to be evidenced by Incentive Stock Option Agreements or
      Non-Statutory Stock Option Agreements, as the case may be. Each Agreement shall
      be in such form as the Board may approve from time to time. Each Agreement
      shall
      comply with and be subject to the following terms and conditions:

    

    
      
         

      

      
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    (a) Type
      of Option; Number of Shares.
      Each
      particular Option Agreement shall state the type of Options to be granted
      (whether Incentive Stock Options or Non-Statutory Stock Options) and the number
      of shares to which the Option pertains. Under no circumstances shall the
      aggregate Fair Market Value of the Stock (determined as of the time the Option
      is granted) with respect to which Incentive Stock Options are exercisable for
      the first time by any Employee during any calendar year (under all incentive
      stock option plans of the Company and its Affiliates) exceed
      $100,000.

    

    (b) Option
      Price.
      Each
      particular Option Agreement shall state the Option Price. The Option Price
      for
      an Incentive Stock Option shall not be less than one hundred percent (100%)
      of
      the Fair Market Value per share of Stock on the date the Incentive Stock Option
      is granted. The Option Price for a Non-Statutory Stock Option shall be the
      price
      per share of Stock set by the Board or its delegates.

    

    (c) Certificate
      Legends.
      Certificates for shares of Stock issued and delivered to Reporting Persons
      may
      be legended, as the Board deems appropriate, if required by the provisions
      of
      any applicable rule or regulation.

    

    (d) Medium
      and Time of Payment.
      The
      aggregate Option Price shall be payable upon the exercise of the Option and
      shall be paid in any combination of:

    

    (i) United
      States cash currency;

    

    (ii) a
      cashier's or certified check to the order of the Company;

    

    (iii) a
      personal check acceptable to the Company;

    

    (iv) to
      the
      extent permitted by the Board, shares of Stock of the Company (including
      previously owned Stock or Stock issuable in connection with the Option
      exercise), properly endorsed to the Company, whose Fair Market Value on the
      date
      of exercise equals the aggregate Option Price of the Option being exercised;
      or

    

    (v) to
      the
      extent permitted by the Board, the Optionee's entering into an agreement with
      the Company, whereby a portion of the Optionee's Options are terminated and
      where the "built-in gain" on any Options which are terminated as part of such
      agreement equals the aggregate Option Price of the Option being exercised.
      The
      Company may establish, from time to time, procedures for a “cashless exercise”
of options. "Built-in gain" means the excess of the aggregate Fair Market Value
      of any Stock otherwise issuable on exercise of a terminated Option, over the
      aggregate Option Price otherwise due the Company on such exercise.

    

    
      
         

      

      
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    The
      Board
      may permit deemed or constructive transfer of shares in lieu of actual transfer
      and physical delivery of certificates. Except to the extent prohibited by
      applicable law, the Board may take any necessary or appropriate steps in order
      to facilitate the payment of any such Option Price. Without limiting the
      foregoing, the Board may cause the Company to loan the Option Price to the
      Optionee or to guarantee that any Stock to be issued will be delivered to a
      broker or lender in order to allow the Optionee to borrow the Option Price.
      The
      Board, in its sole and exclusive discretion, may require satisfaction of any
      rules or conditions in connection with payment of the Option Price at any
      particular time, in any particular form, or with the Company's assistance.
      If
      Stock used to pay any Option Price is subject to any prior restrictions imposed
      in connection with any plan of the Company (including this Plan), an equal
      number of the shares of Stock acquired on exercise shall be made subject to
      such
      prior restrictions in addition to any further restrictions imposed on such
      Stock
      by the terms of the Optionee's Agreement or by the Plan.

    

    (e) Vesting.
      The
      total number of shares of Stock subject to an Option may, but need not, be
      allotted in periodic installments (which may, but need not, be equal). The
      Option Agreement may provide that from time to time during each of such
      installment periods, the Option may become exercisable ("vest") with respect
      to
      some or all of the shares allotted to that period, and may be exercised with
      respect to some or all of the shares allotted to such period and/or any prior
      period as to which the Option became vested but was not fully exercised. During
      the remainder of the term of the Option (if its term extends beyond the end
      of
      the installment periods), any unexercised Option Stock may be exercised from
      time to time.

    

    (f) Duration
      of Options.
      Each
      particular Option Agreement shall state the term of the Option; provided,
      however, that all Incentive Stock Options granted under this Plan shall expire
      and not be exercisable after the expiration of ten (10) years from the date
      granted; provided, further, that any Incentive Stock Option granted to an
      Employee who owns stock at the time the Incentive Stock Option is granted
      representing more than ten percent (10%) of the total combined voting power
      of
      all classes of stock of the Company and its Affiliates shall expire and not
      be
      exercisable after the expiration of five (5)
      years
      from the date granted. Non-Statutory Stock Options shall expire and not be
      exercisable after the date set by the Board or its delegates in the particular
      Option Agreement, or on any later date subsequently approved by the Board or
      its
      delegates.

    

    (g) Exercise
      of Options.

    

    (i) Each
      particular Option Agreement shall state when the Optionee's right to purchase
      Stock pursuant to the terms of an Option are exercisable in whole or in part,
      provided, however, that Incentive Stock Options shall not be exercisable by
      an
      Employee more than 90 days after the date that the employment of such Employee
      is voluntarily or involuntarily terminated. Subject
      to the earlier termination of the right to exercise the Options as provided
      under this Plan, Options shall be exercisable in whole or in part as the Board,
      in its sole and exclusive discretion, may provide in the particular Option
      Agreement, as amended. The Board may at any time increase the percentage of
      an
      Option that is otherwise exercisable under the terms of a particular Option
      Agreement. The Board, in its sole and exclusive discretion, may permit the
      issuance of Stock underlying an Option prior to the date the Option is otherwise
      exercisable, provided such Stock is subject to repurchase rights which expire
      pro rata as the Option would otherwise have become exercisable.

    

    
      
         

      

      
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    (ii) If
      the
      Optionee does not exercise in any one (1) year period the full number of shares
      to which he or she is then entitled to exercise, the Optionee may exercise
      those
      shares in any subsequent year during the term of the Option.

    

    (h) Transfer
      of Options.
      An
      Option
      shall not be transferable except by will or by the laws of decent and
      distribution, and
      shall
      be exercisable during the lifetime of the person to whom the Option is granted
      only by such person, except as specifically provided for by the Board. An
      attempted non-permitted transfer of an Option shall be void.

    

    (i) Disability
      of Optionee.
      In the
      event an Optionee's Continuous Status as an Employee, Director or Consultant
      terminates as a result of the Optionee's Disability, the Optionee may exercise
      his or her Option, but only within twelve (12) months from the date of such
      termination (or such shorter period specified in the Option Agreement), and
      only
      to the extent that the Optionee was entitled to exercise it at the date of
      such
      termination (but in no event later than the expiration of the term of such
      Option as set forth in the Option Agreement). If, at the date of termination,
      the Optionee is not entitled to exercise his of her entire Option, the shares
      covered by the unexercisable portion of the Option shall revert to the Plan.
      If,
      after termination, the Optionee does not exercise his or her Option within
      the
      time specified herein, the Option shall terminate, and the shares covered by
      such Option shall revert to the Plan.

    

    (j) Death
      of Optionee.
      In the
      event of the death of an Optionee, the Option may be exercised, at any time
      within sixteen (16) months following the date of death (or such other period
      specified in the Option Agreement but in no event later than the expiration
      of
      the term of such Option as set forth in the Option Agreement), by the Optionee's
      estate or by a person who acquired the right to exercise the Option by bequest
      or inheritance, but only to the extent the Optionee was entitled to exercise
      the
      Option at the date of death. If, at the time of death, the Optionee was not
      entitled to exercise his or her entire Option, the shares covered by the
      unexercisable portion of the Option shall revert to the Plan. If, after death,
      the Optionee's estate or a person who acquired the right to exercise the Option
      by bequest or inheritance does not exercise the Option within the time specified
      herein, the Option shall terminate, and the shares covered by such Option shall
      revert to the Plan.

    

    
      
         

      

      
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    (k) Termination
      of Employment or Relationship as an Officer, Director, Consultant or
      Advisor.
      In the
      event that an Optionee who is an Employee, Officer, Director, Consultant or
      Advisor of the Company or its Affiliates shall cease to be employed by or
      perform services for the Company or its Affiliates prior to the Option's
      expiration date
      (other
      than upon the Optionee's death or Disability),
      the
      exercise of Options held by such Optionee shall be subject to such limitations
      on the periods of time during which such Options, except for Incentive Stock
      Options limitations under section 6(g)(i) herein, may be exercised as may be
      specified in the particular Option Agreement, as amended, between the Optionee
      and the Company. Whether authorized leave of absence or absence for military
      or
      governmental service shall constitute termination of employment for purposes
      of
      the Plan shall be determined by the Board in their sole and exclusive
      discretion. No provision of the Plan shall be construed so as to grant any
      individual the right to remain in the employ or service of the Company for
      any
      period of specific duration.

    

    (l) Recapitalization.

    

    (i) The
      number of shares issuable under the Plan and the number and amount of the Option
      Stock and the Option Price of outstanding Options may be proportionately
      adjusted by the Board, in its sole and exclusive discretion, for any increase
      or
      decrease in the number of issued shares of Stock resulting from a subdivision
      or
      consolidation of shares, or for the payment of a stock dividend, or any other
      increase or decrease in the number of such shares effected without receipt
      of
      consideration by the Company in order to preclude the dilution or enlargement
      of
      benefits under the Plan.

    

    (ii) The
      Board, in its sole and exclusive discretion, may make such equitable adjustments
      to the Plan and outstanding Options as it deems appropriate in order to preclude
      the dilution or enlargement of benefits under the Plan, upon exchange of all
      of
      the outstanding stock of the Company for a different class or series of capital
      stock or the separation of assets of the Company, including a spin-off or other
      distribution of stock or property by the Company.

    

    
      
         

      

      
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    (iii) If
      the
      Company shall be the surviving corporation in any merger or consolidation,
      each
      outstanding Option shall pertain to and apply to the securities to which a
      holder of the number of shares of Option Stock would have been entitled. A
      dissolution or liquidation of the Company, a merger (other than a merger the
      principal purpose of which is to change the state of the Company's
      incorporation) or consolidation in which the Company is not the surviving
      corporation, a reverse merger in which the Company is the surviving corporation
      but the Company's Common Stock outstanding immediately preceding the merger
      is
      converted by virtue of the merger into other property, or other capital
      reorganization in which more than fifty percent (50%) of the Company's Common
      Stock is exchanged (unless the dissolution or liquidation plan, merger or
      consolidation agreement or capital reorganization corporate documents expressly
      provide to the contrary) shall cause each outstanding Option to terminate,
      provided, that each Optionee shall, immediately prior to such event, have the
      right to exercise his or her Option in whole or in part, unless the Option
      in
      connection with such event is either to be assumed by the successor corporation
      or parent thereof, or to be replaced with a comparable option to purchase shares
      of the capital stock of the successor corporation or parent thereof, or the
      Option is to be replaced by a comparable cash incentive program of the successor
      corporation based on the value of the Option on the date of such event.
      Notwithstanding the preceding, if, within one (1) year from the date of such
      event, an Employee's employment is involuntarily terminated, then the Employee's
      outstanding Options, if any, shall become immediately exercisable.

    

    (iv) All
      adjustments required by the preceding paragraphs shall be made by the Board,
      whose determination in that respect shall be final, binding and conclusive,
      provided, that adjustments shall not be made in a manner that causes an
      Incentive Stock Option to fail to continue to qualify as an "incentive stock
      option" within the meaning of Code Section 422.

    

    (v) Except
      as
      expressly provided in this Paragraph 6(l), an Optionee shall have no rights
      by
      reason of any subdivision or consolidation of shares of stock of any class,
      or
      the payment of any stock dividend, or any other increase in the number of shares
      of stock of any class by reason of any dissolution, liquidation, merger,
      consolidation, reorganization, or separation of assets, and any issue by the
      Company of shares of stock of any class, or securities convertible into shares
      of stock of any class, shall not affect, and no adjustment by reason thereof
      shall be made with respect to, the number or amount of the Option Stock or
      the
      Option Price of outstanding Options.

    

    
      
         

      

      
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    (vi) The
      grant
      or existence of an Option shall not affect in any way the right or power of
      the
      Company to make adjustments, reclassifications, reorganizations or changes
      in
      its capital or business structure, or to merge, consolidate, dissolve, liquidate
      or sell, or transfer all or any part of its business or assets.

    

    (m) Rights
      as a Shareholder.
      An
      Optionee shall not have rights as a shareholder with respect to any shares
      until
      the date of the issuance of a stock certificate to him or her for such shares.
      No adjustment shall be made for dividends (ordinary or extraordinary, whether
      in
      cash, securities or other property) or distributions or other rights for which
      the record date is prior to the date of issuance of such stock certificate,
      except as provided in Paragraph 6(l) above.

    

    (n) Modification,
      Extension and Renewal of Options.
      Subject
      to the terms and conditions of the Plan, the Board may modify (including
      lowering the Option Price or changing Incentive Stock Options into Non-Statutory
      Stock Options), extend or renew outstanding Options granted under the Plan,
      or
      accept the surrender of outstanding Options under this Plan and/or other stock
      option plans of the Company (to the extent not previously exercised) and
      authorize the granting of new Options in substitution therefor. Notwithstanding
      the foregoing, no modification of an Option shall, without the consent of the
      Optionee, alter or impair any rights or obligations under any Option previously
      granted under the Plan.

    

    (o) Securities
      Compliance.
      The
      Company may require any Optionee, or
      any
      person
      to whom an Option is transferred under subsection 6(d), as a condition of
      exercising any such Option, (1) to give written assurances satisfactory to
      the
      Company as to the Optionee's knowledge and experience in financial and business
      matters and/or to employ a purchaser representative reasonably satisfactory
      to
      the Company who is knowledgeable and experienced in financial and business
      matters, and that he or she is capable of evaluating, alone or together with
      the
      purchaser representative, the merits and risks of exercising the Option; and
      (2)
      to give written assurances satisfactory to the Company stating that such person
      is acquiring the stock subject to the Option for such person's own account
      and
      not with any present intention
      of
      selling or otherwise distributing
      the stock. These requirements, and any assurances given pursuant to such
      requirements, shall be inoperative if (i) the issuance of the shares upon the
      exercise of the Option has been registered under a then currently effective
      registration statement under the Securities Act of 1933, as amended (the
      "Securities Act"), or (ii) as to any particular requirement, a determination
      is
      made by counsel for the Company that such requirement need not be met in the
      circumstances under the then applicable securities laws. Unless an Optionee
      could otherwise exercise a Stock Option or dispose of Stock delivered upon
      exercise of a Stock Option granted under the Plan without incurring liability
      under Section 16(b) of the Exchange Act, at least six months shall elapse from
      the date of acquisition of the Stock Option to the date of disposition of its
      underlying Stock.

    

    
      
         

      

      
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    (p) Transfer
      and Exercise of Options.
      To the
      extent required by Code Section 422, each Incentive Stock Option shall state
      that it is not transferable or assignable by Optionee otherwise than by will
      or
      the laws of descent and distribution, and that during an Optionee's lifetime,
      such Incentive Stock Option shall be exercisable only by the
      Optionee.

    

    (q) Other
      Provisions.
      Each
      Option Agreement may contain
      such other provisions, including without limitation, restrictions upon the
      exercise or transferability
      of the Option, as the Board may deem advisable. Any Incentive Stock Option
      Agreement shall contain such limitations and restrictions upon the exercise
      of
      the Incentive
      Stock Option as shall be necessary in order that such Incentive Stock Option
      shall be
      an
      "incentive stock option" as defined in Code Section 422, or to conform
      to any
      change in
      the
      law.

    

    (r) Withholding
      Taxes.
      When
      the Company becomes required to collect federal and state income and employment
      taxes in connection with the exercise of an Option ("withholding taxes"), the
      Optionee shall promptly pay to the Company the amount of such taxes in cash,
      unless the Board permits or requires payment in another form. Subject to such
      conditions as it may require, the Board, in its sole discretion, may allow
      an
      Optionee to reimburse the Company for payment of withholding taxes with shares
      of Stock. If an Optionee is a Reporting Person at the time of exercise and
      is
      given an election to pay any withholding taxes with Stock, the Board shall
      have
      sole discretion to approve or disapprove such election.

    

      
        	
                7.

              	
                Term
                  of Plan.

              

      

    

     

    The
      Board
      may suspend or terminate the Plan at any time. Unless sooner terminated, the
      Plan shall not extend beyond a date ten (10) years from the date of adoption
      hereof by the Board. No Incentive Stock Options or Non-statutory Stock Options
      may be granted under the Plan while the Plan is suspended or after it is
      terminated. Rights and obligations under any Option granted while the Plan
      is in
      effect shall not be altered or impaired by suspension or termination of the
      Plan, except with the consent of the person to whom the Option was
      granted.

    

      
        	
                8.

              	
                Amendment
                  of Plan.

              

      

    

     

    With
      respect to any shares at the time not subject to Options, the Board may from
      time to time, insofar as permitted by law, suspend or discontinue the Plan
      or
      revise or amend the Plan in any respect whatsoever, except that, without
      approval of the stockholders, no such revision or amendment shall change the
      number of shares for which Options may be granted under the Plan, except as
      provided in Section 6(l), change the designation of the class of persons
      eligible to receive Options under the Plan, materially increase the benefits
      accruing to Optionees under the Plan, or decrease the price at which Incentive
      Stock Options may be granted. Furthermore, without the approval of the
      stockholders, the Plan may not be amended in any manner that will cause
      Incentive Stock Options issued under it to fail to meet the requirements of
      "incentive stock options" as defined in Code Section 422. The Board may amend
      the Plan from time to time to the extent necessary to comply with any applicable
      law, rule or other regulatory requirement.

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    

      
        	
                9.

              	
                Application
                  of Funds.

              

      

    

     

    The
      proceeds received by the Company from the sale of Stock pursuant to the exercise
      of an Option will be used for general corporate purposes.

    

      
        	
                10.

              	
                No
                  Obligation to Exercise Option.

              

      

    

     

    The
      granting of an Option shall impose no obligation upon the Optionee to exercise
      such Option.

    
      

      
        	
                11.

              	
                Indemnification.

              

      

    

     

    In
      addition to such other rights of indemnification as they may have as Directors,
      Employees or agents of the Company, the Directors, or any individuals who are
      delegated authority by the Board to administer the Plan, shall be indemnified
      by
      the Company against: (i) their reasonable expenses, including attorneys' fees
      actually and necessarily incurred in connection with the defense of any action,
      suit or proceeding, or in connection with any appeal therein, to which they
      or
      any of them may be a party by reason of any action taken or failure to act
      under
      or in connection with the Plan or any Option granted thereunder; and (ii)
      against all amounts paid by them in settlement thereof (provided such settlement
      is approved by independent legal counsel selected by the Company), or paid
      by
      them in satisfaction of a judgment in any such action,. suit or proceeding,
      except in actions to matters as to which it shall be adjudged in such action,
      suit or proceeding that such Director or individual is liable for negligence
      or
      misconduct in the performance of his duties; this indemnification is expressly
      conditioned upon the indemnified party, within ninety (90) days after
      institution of any such action, suit or proceeding, offering the Company in
      writing the opportunity, at its own expense, to handle and defend the
      same.

    
       

      
        	
                12.

              	
                Approval
                  of Stockholders.

              

      

    

     

    The
      portions of the Plan dealing with Incentive Stock Options shall not take effect
      unless approved by the stockholders of the Company's preferred (if any) and
      Common Stock, which approval must occur within a period commencing twelve (12)
      months before and ending twelve (12) months after the date the Plan is adopted
      by the Board. Nothing in the Plan shall be construed to limit the authority
      of
      the Company to exercise its corporate rights and powers, including the right
      of
      the Company to grant Non-Statutory Options for proper corporate
      purposes.

     

    
      
         

      

      
        12Form of Indemnification Agreement

 Exhibit 10.1 
 RAYTHEON COMPANY 
 FORM OF 
 INDEMNIFICATION AGREEMENT 
 This Agreement is made as of the [    ] day of
[            ], by and between Raytheon Company, a Delaware corporation (the “Corporation”), and [            ] (the
“Indemnitee”), a director or officer of the Corporation. 
 WHEREAS, it is essential to the Corporation to retain and attract as directors and
officers the most capable persons available, and 
 WHEREAS, the increase in corporate litigation subjects directors and officers to expensive litigation
risks, and 
 WHEREAS, it is now and has always been the policy of the Corporation to indemnify its directors and officers, and 
 WHEREAS, the Corporation desires the Indemnitee to serve, or continue to serve, as a director or officer of the Corporation. 
 NOW THEREFORE, the Corporation and the Indemnitee do hereby agree as follows: 
  

	1.	Definitions. As used in this Agreement: 

  

	 	(a)	The term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, alternative dispute resolution proceeding, administrative hearing or
other proceeding, whether brought by or in the right of the Corporation or otherwise and whether of a civil, criminal, administrative or investigative nature, and any appeal therefrom. 

  

	 	(b)	The term “Corporate Status” shall mean the status of a person who is or was, or has agreed to become, a director or officer of the Corporation, or is or was serving, or
has agreed to serve, at the request of the Corporation, as a director, officer, fiduciary, partner, trustee, member, employee or agent of, or in a similar capacity with, another corporation, partnership, joint venture, trust, limited liability
company or other enterprise. 

  

	 	(c)	The term “Expenses” shall include, without limitation, attorneys’ fees, retainers, court costs, transcript costs, fees and expenses of experts, travel expenses,
duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and other disbursements or expenses of the types customarily incurred in connection with investigations, judicial or administrative proceedings or
appeals, but shall not include the amount of judgments, fines or penalties against Indemnitee or amounts paid in settlement in connection with such matters. 

  

	 	(d)	The term “Change in Control” shall mean the occurrence of any one of the following: 

 (i) Any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”)) (a “Person”), other than those Persons in control of the Corporation as of the date of this Agreement or a trustee or other fiduciary holding securities under an employee benefit plan of the Corporation or a
corporation owned directly or indirectly by the stockholders of the Corporation in substantially the same proportions as their ownership of stock of the Corporation, becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act),
directly or indirectly, of securities of the Corporation representing 25% or more of the combined voting power of the Corporation’s then outstanding securities; 
 (ii) A change in the Board of Directors of the Corporation (the “Board”) such that individuals who as of the date of this Agreement 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 of this Agreement whose election or nomination for election by the Corporation’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; 

 (iii) The consummation of: (A) a plan of complete liquidation of the Corporation; (B) an
agreement for the sale or disposition of all or substantially all of the Corporation’s assets; or (C) a merger, consolidation or reorganization of the Corporation with or involving any other corporation, other than a merger, consolidation
or reorganization that would result in the voting securities of the Corporation 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 Corporation (or such surviving entity) outstanding immediately after such merger, consolidation or reorganization; or 
 (iv) the occurrence of any other event that the Board determines by a duly approved resolution constitutes a Change in Control. 
  

	 	(e)	The term “Independent Counsel” shall mean a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither currently is, nor in the
past five years has been, retained to represent: (i) the Corporation or the Indemnitee in any matter material to either such party or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder.
Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the
Corporation or the Indemnitee in an action to determine the Indemnitee’s rights under this Agreement. 

  

	 	(f)	References to “other enterprise” shall include employee benefit plans; references to “fines” shall include any excise tax assessed with respect to any employee
benefit plan; references to “serving at the request of the Corporation” shall include any service as a director, officer, employee or agent of the Corporation which imposes duties on, or involves services by, such director, officer,
employee, or agent with respect to an employee benefit plan, its participants, or beneficiaries; and a person who acted in good faith and in a manner such person reasonably believed to be in the interests of the participants and beneficiaries of an
employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the Corporation” as referred to in this Agreement. 

  

	2.	Indemnity of Indemnitee. Subject to Sections 5, 6 and 8, the Corporation shall indemnify the Indemnitee in connection with any 

 Proceeding as to which the Indemnitee is, was or is threatened to be made a party (or is otherwise involved) by reason of the Indemnitee’s Corporate Status, to the
fullest extent permitted by law (as such may be amended from time to time). In furtherance of the foregoing and without limiting the generality thereof: 
  

	 	(a)	Indemnification in Third-Party Proceedings. The Corporation shall indemnify the Indemnitee in accordance with the provisions of this Section 2(a) if the Indemnitee was or is a
party to or threatened to be made a party to or otherwise involved in any Proceeding (other than a Proceeding by or in the right of the Corporation to procure a judgment in its favor or a Proceeding referred to in Section 5 below) by reason of
the Indemnitee’s Corporate Status or by reason of any action alleged to have been taken or omitted in connection therewith, against all Expenses, judgments, fines, penalties and amounts paid in settlement actually and reasonably incurred by or
on behalf of the Indemnitee in connection with such Proceeding, if the Indemnitee acted in good faith and in a manner which the Indemnitee reasonably believed to be in, or not opposed to, the best interests of the Corporation and, with respect to
any criminal Proceeding, had no reasonable cause to believe that his or her conduct was unlawful. 

  

	 	(b)	Indemnification in Proceedings by or in the Right of the Corporation. The Corporation shall indemnify the Indemnitee in accordance with the provisions of this Section 2(b) if
the Indemnitee was or is a party to or threatened to be made a party to or otherwise involved in any Proceeding by or in the right of the Corporation to procure a judgment in its favor by reason of the Indemnitee’s Corporate Status or by reason
of any action alleged to have been taken or omitted in connection therewith, against all Expenses and, to the extent permitted by law, amounts paid in settlement actually and reasonably incurred by or on behalf of the Indemnitee in connection with
such Proceeding, if the Indemnitee acted in good faith and in a manner which the Indemnitee reasonably believed to be in, or not opposed to, the best interests of the Corporation, except that, if applicable law so requires, no indemnification shall
be made under this Section 2(b) in respect of any claim, issue or matter as to which the Indemnitee shall have been adjudged to be liable to the Corporation, unless, and only to the extent, that the Court of Chancery of Delaware or the court in
which such action or suit was brought shall determine upon application that, despite the adjudication of such liability but in view of all the circumstances of the case, the Indemnitee is fairly and reasonably entitled to indemnity for such Expenses
as the Court of Chancery or such other court shall deem proper. 

  

	3.	Indemnification of Expenses of Successful Party. Notwithstanding any other provision of this Agreement, to the extent that the 

 Indemnitee has been successful, on the merits or otherwise, in defense of any Proceeding or in defense of any claim, issue or matter therein (other than a Proceeding
referred to in Section 5), the Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by or on behalf of the Indemnitee in 

 
connection therewith. 
  

	4.	Indemnification for Expenses of a Witness. To the extent that the Indemnitee is, by reason of the Indemnitee’s Corporate Status, 

 a witness in any Proceeding to which the Indemnitee is not a party, the Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by or on
behalf of the Indemnitee in connection therewith. 
  

	5.	Exceptions to Right of Indemnification. Notwithstanding anything to the contrary to this Agreement, except as set forth in 

 Section 9, the Corporation shall not indemnify the Indemnitee under this Agreement in connection with a Proceeding (or part thereof) initiated by the Indemnitee
unless the initiation thereof was approved by the Board of Directors of the Corporation; and 
 (a) the Corporation shall not indemnify the
Indemnitee to the extent the Indemnitee has been reimbursed from the proceeds of insurance, and in the event the Corporation makes any indemnification payments to the Indemnitee and the Indemnitee is subsequently reimbursed from the proceeds of
insurance, the Indemnitee shall promptly refund such indemnification payments to the Corporation to the extent of such insurance reimbursement. 
  

	6.	Notification and Defense of Claim. 

 (a) As a condition
precedent to the Indemnitee’s right to be indemnified, the Indemnitee must notify the Corporation in writing as soon as practicable of any Proceeding for which indemnity will or could be sought. The Indemnitee shall have the right to employ his
or her own counsel in connection with such Proceeding, and the fees and expenses of counsel for the Indemnitee shall be at the expense of the Corporation, except as otherwise expressly provided by this Agreement, and provided that Indemnitee’s
counsel shall cooperate reasonably with the Corporation’s counsel to minimize the cost of defending claims against the Corporation and the Indemnitee. 
 (b) The Corporation shall not be required to indemnify the Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding effected without its written consent. The Corporation shall not settle
any Proceeding in any manner that would impose any penalty or limitation on the Indemnitee without the Indemnitee’s written consent. Neither the Corporation nor the Indemnitee will unreasonably withhold or delay their consent to any proposed
settlement. 
  

	7.	Advancement of Expenses. Subject to the provisions of Section 8, in the event of any Proceeding of which the Corporation 

 receives notice under Section 6 of this Agreement, any Expenses actually and reasonably incurred by or on behalf of the Indemnitee in defending such Proceeding shall
be paid by the Corporation in advance of the final disposition of such Proceeding; provided, however, that the payment of such Expenses incurred by or on behalf of the Indemnitee in advance of the final disposition of such Proceeding shall be made
only upon receipt of an undertaking by or on behalf of the Indemnitee to repay all amounts so advanced to the extent that it shall ultimately be determined that the Indemnitee is not entitled to be indemnified by the Corporation as authorized in
this Agreement. Such undertaking shall be accepted without reference to the financial ability of the Indemnitee to make repayment. Any advances and undertakings to repay pursuant to this Section 7 shall be unsecured and interest-free.

  

	8.	Procedures. 

 (a) In order to obtain indemnification or
advancement of Expenses pursuant to this Agreement, the Indemnitee shall submit to the Corporation a written request, including in such request such documentation and information as is reasonably available to the Indemnitee and is reasonably
necessary to determine whether and to what extent the Indemnitee is entitled to indemnification or advancement of Expenses. Any such indemnification or advancement of Expenses shall be made promptly, and in any event within (i) in the case of
advancement of Expenses under Section 7, 20 calendar days after receipt by the Corporation of the written request of the Indemnitee, or (ii) in the case of all other indemnification, 30 calendar days after receipt by the Corporation of the
written request of the Indemnitee, subject to the provisions of Sections 8(b) and (c) below. 
 (b) With respect to requests for
indemnification under Section 2, indemnification shall be made insofar as the Corporation determines that Indemnitee has met the applicable standard of conduct set forth in Section 2. Any determination as to whether Indemnitee has met the
applicable standard of conduct set forth in Section 2, and any determination that advanced Expenses must be subsequently repaid to the Corporation, shall be made, in the discretion of the Board of Directors of the Corporation, (1) by a
majority vote of the directors of the Corporation consisting of persons who are not at that time parties to the Proceeding (“disinterested directors”), whether or not a 

 
quorum, (2) by a committee of disinterested directors designated by a majority vote of disinterested directors, whether or not a quorum, (3) if
there are no disinterested directors, or if the disinterested directors so direct, by Independent Counsel in a written opinion to the Board, or (4) by the stockholders of the Corporation. Any such determination with respect to requests under
Section 2 shall be made within the 30-day period referred to in clause (ii) of Section 8(a) (unless extended by mutual agreement by the Corporation and Indemnitee). For the purpose of the foregoing determination with respect to
requests under Section 2 or repayment of advanced Expenses, the Indemnitee shall be entitled to a presumption that he or she has met the applicable standard of conduct set forth in Section 2. 
 (c) Notwithstanding anything to the contrary set forth in this Agreement, if a request for indemnification is made after a Change in Control, at the
election of the Indemnitee made in writing to the Corporation, any determination required to be made pursuant to Section 8(b) above as to whether the Indemnitee has met the applicable standard of conduct or is required to repay advanced
Expenses shall be made by Independent Counsel selected as provided in this Section 8(c). The Independent Counsel shall be selected by the Indemnitee, unless the Indemnitee shall request that such selection be made by the Board of Directors of
the Corporation. The party making the determination shall give written notice to the other party advising it of the identity of the Independent Counsel so selected. The party receiving such notice may, within seven days after such written notice of
selection shall have been given, deliver to the other party a written objection to such selection. Such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent
Counsel” as defined in Section 1, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If a written
objection is made, the Independent Counsel so selected may not serve as Independent Counsel unless and until a court has determined that such objection is without merit. If, within 20 days after submission by the Indemnitee of a written request for
indemnification, no Independent Counsel shall have been selected or if selected, shall have been objected to, in accordance with this paragraph either the Corporation or the Indemnitee may petition the Court of Chancery of the State of Delaware or
other court of competent jurisdiction for resolution of any objection which shall have been made by the Corporation or the Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person
selected by the court or by such other person as the court shall designate, and the person with respect to whom an objection is favorably resolved or the person so appointed shall act as Independent Counsel. The Corporation shall pay the reasonable
fees and expenses of Independent Counsel incurred in connection with its acting in such capacity. The Corporation shall pay any and all reasonable and necessary fees and expenses incident to the procedures of this paragraph, regardless of the manner
in which such Independent Counsel was selected or appointed. 
 (d) The termination of any Proceeding by judgment, order, settlement,
conviction or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the Indemnitee did not act in good faith and in a manner that the Indemnitee reasonably believed to be in, or not opposed to, the best
interests of the Corporation, and, with respect to any criminal Proceeding, had reasonable cause to believe that his or her conduct was unlawful. 
 (e) The Indemnitee shall cooperate with the person, persons or entity making such determination with respect to the Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable
advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to the Indemnitee and reasonably necessary to such determination. Any Expenses actually and reasonably
incurred by the Indemnitee in so cooperating shall be borne by the Corporation (irrespective of the determination as to the Indemnitee’s entitlement to indemnification) and the Corporation hereby indemnifies the Indemnitee therefrom.

  

	9.	Remedies. The right to indemnification or advancement of Expenses as provided by this Agreement shall be enforceable by the 

 Indemnitee in any court of competent jurisdiction if the Corporation denies such request, in whole or in part, or if no disposition thereof is made within the applicable
period referred to in Section 8. Unless otherwise required by law, the burden of proving that indemnification is not appropriate shall be on the Corporation. Neither the failure of the Corporation to have made a determination prior to the
commencement of such action that indemnification is proper in the circumstances because the Indemnitee has met the applicable standard of conduct, nor an actual determination by the Corporation that the Indemnitee has not met such applicable
standard of conduct, shall be a defense to the action or create a presumption that the Indemnitee has not met the applicable standard of conduct. The Indemnitee’s Expenses actually and reasonably incurred in connection with successfully
establishing the Indemnitee’s right to indemnification, in whole or in part, in any such Proceeding shall also be indemnified by the Corporation. 
  

	10.	 Partial Indemnification. If the Indemnitee is entitled under any provision of this Agreement to 

 
indemnification by the Corporation for some or a portion of the Expenses, judgments, fines, penalties or amounts paid in settlement actually and reasonably
incurred by or on behalf of the Indemnitee in connection with any Proceeding but not, however, for the total amount thereof, the Corporation shall nevertheless indemnify the Indemnitee for the portion of such Expenses, judgments, fines, penalties or
amounts paid in settlement to which the Indemnitee is entitled. 
  

	11.	Subrogation. In the event of any payment under this Agreement, the Corporation shall be subrogated to the extent of such 

 payment to all of the rights of recovery of the Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution
of such documents as are necessary to enable the Corporation to bring suit to enforce such rights. 
  

	12.	Term of Agreement. This Agreement shall continue until and terminate upon the later of (a) six years after the date that the 

 Indemnitee shall have ceased to serve as a director or officer of the Corporation or, at the request of the Corporation, as a director, officer, partner, trustee, member,
employee or agent of another corporation, partnership, joint venture, trust, limited liability company or other enterprise or (b) the final termination of all Proceedings pending on the date set forth in clause (a) in respect of which the
Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of any proceeding commenced by the Indemnitee pursuant to Section 9 of this Agreement relating thereto. 
  

	13.	Indemnification Hereunder Not Exclusive. The indemnification and advancement of Expenses provided by this Agreement shall 

 not be deemed exclusive of any other rights to which the Indemnitee may be entitled under the Certification of Incorporation, the By-Laws, any other agreement, any vote
of stockholders or disinterested directors, the General Corporation Law of Delaware, any other law (common or statutory), or otherwise, both as to action in the Indemnitee’s official capacity and as to action in another capacity while holding
office for the Corporation. Nothing contained in this Agreement shall be deemed to prohibit the Corporation from purchasing and maintaining insurance, at its expense, to protect itself or the Indemnitee against any expense, liability or loss
incurred by it or the Indemnitee in any such capacity, or arising out of the Indemnitee’s status as such, whether or not the Indemnitee would be indemnified against such expense, liability or loss under this Agreement. 
  

	14.	No Special Rights. Nothing herein shall confer upon the Indemnitee any right to continue to serve as an officer or director of the 

 Corporation for any period of time or at any particular rate of compensation. 
  

	15.	Savings Clause. If this Agreement or any portion thereof shall be invalidated on any ground by any court of competent 

 jurisdiction, then the Corporation shall nevertheless indemnify the Indemnitee as to Expenses, judgments, fines, penalties and amounts paid in settlement with respect to
any Proceeding to the full extent permitted by any applicable portion of this Agreement that shall not have been invalidated and to the fullest extent permitted by applicable law. 
  

	16.	Counterparts. This Agreement may be executed in any number of counterparts, each of which shall constitute the original. 

  

	17.	Successors and Assigns. This Agreement shall be binding upon the Corporation and its successors and assigns and shall inure to 

 the benefit of the estate, heirs, executors, administrators and personal representatives of the Indemnitee. 
  

	18.	Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to 

 constitute part of this Agreement or to affect the construction thereof. 
  

	19.	Modification and Waiver. This Agreement may be amended from time to time to reflect changes in Delaware law or for other 

 reasons. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof nor shall any such waiver constitute a continuing waiver. 
  

	20.	Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have 

 been given (i) when delivered by hand or (ii) if mailed by certified or registered mail with postage prepaid, on the third day after the date on which it is so
mailed: 
 (a) if to the Indemnitee, to: [            ] 

			
	 (b) if to the Corporation, to:
	 	Raytheon Company
		 	Attn: General Counsel
		 	Waltham Woods
		 	870 Winter Street
		 	Waltham, MA 02451

 or to such other address as may have been furnished to the Indemnitee by the Corporation or to the Corporation by
the Indemnitee, as the case may be. 
  

	21.	Applicable Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of 

 Delaware. The Indemnitee may elect to have the right to indemnification or reimbursement or advancement of Expenses interpreted on the basis of the applicable law in
effect at the time of the occurrence of the event or events giving rise to the applicable Proceeding, to the extent permitted by law, or on the basis of the applicable law in effect at the time such indemnification or reimbursement or advancement of
Expenses is sought. Such election shall be made, by a notice in writing to the Corporation, at the time indemnification or reimbursement or advancement of Expenses is sought; provided, however, that if no such notice is given, and if the General
Corporation Law of Delaware is amended, or other Delaware law is enacted, to permit further indemnification of the directors and officers, then the Indemnitee shall be indemnified to the fullest extent permitted under the General Corporation Law, as
so amended, or by such other Delaware law, as so enacted. 
  

	22.	Enforcement. The Corporation expressly confirms and agrees that it has entered into this Agreement in order to induce the 

 Indemnitee to continue to serve as an officer or director of the Corporation, and acknowledges that the Indemnitee is relying upon this Agreement in continuing in such
capacity. 
  

	23.	Entire Agreement. This Agreement sets forth the entire agreement of the parties hereto in respect of the subject matter contained 

 herein and supersedes all prior agreements, whether oral or written, by any officer, employee or representative of any party hereto in respect of the subject matter
contained herein; and any prior agreement of the parties hereto in respect of the subject matter contained herein is hereby terminated and cancelled. For avoidance of doubt, the parties confirm that the foregoing does not apply to or limit the
Indemnitee’s rights under Delaware law or the Corporation’s Certificate of Incorporation or By-Laws. 
  

	24.	Consent to Suit. In the case of any dispute under or in connection with this Agreement, the Indemnitee may only bring suit 

 against the Corporation in the Court of Chancery of the State of Delaware. The Indemnitee hereby consents to the exclusive jurisdiction and venue of the courts of the
State of Delaware, and the Indemnitee hereby waives any claim the Indemnitee may have at any time as to forum non conveniens with respect to such venue. The Corporation shall have the right to institute any legal action arising out of or relating to
this Agreement in any court of competent jurisdiction. Any judgment entered against either of the parties in any proceeding hereunder may be entered and enforced by any court of competent jurisdiction. 
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written. 
  

			
	RAYTHEON COMPANY
		
	By:	 	  

			
		
	INDEMNITEE:

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