Document:

The Boeing Company 2003 Incentive Stock Plan

 EXHIBIT 10 (xx) 
  
 THE BOEING COMPANY 2003 INCENTIVE STOCK PLAN 
  
 Section 1. Purpose of the Plan 
  
 The purpose of this 2003 Incentive Stock Plan (the “Plan”) is to attract, retain and motivate employees, officers, consultants, agents, advisors and independent contractors of The Boeing Company
(the “Company”) by providing them the opportunity to acquire a proprietary interest in the Company and to link their interests and efforts to the long-term interests of the Company’s shareholders. 
  
 Section 2. Definitions 
  
 As used in the Plan, 
  
 “Award” means any Option, Stock Appreciation Right, Restricted Stock, Stock Unit, Performance Share, Performance Unit, dividend equivalent,
cash-based award or other incentive payable in cash or in shares of Common Stock as may be designated by the Committee from time to time. 
  
 “Board” means the Board of Directors of the Company. 
  
 “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
  
 “Committee” has the meaning set forth in Section 3.1. 
  
 “Common Stock” means the common stock, par value $5.00 per share, of the Company. 
  
 “Company” means The Boeing Company, a Delaware corporation.

  
 “Covered Employee” means a “covered employee”
as that term is defined in Section 162(m)(3) of the Code or any successor provision. 
  
 “Disability” means “Disability” as defined by the Committee or the Company’s vice president of compensation and benefits for purposes of the Plan or an Award or in the instrument evidencing the
Award or in a written employment or services agreement between the Participant and the Company or a Related Company. 
  
 “Effective Date” has the meaning set forth in Section 18. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time. 
  
 “Fair Market Value” means the average of the high and low per share
trading prices (or the average of the opening and closing prices, or the closing price, if so determined by the Committee) for the Common Stock on the New York Stock Exchange during regular session trading as reported to the Company by The Wall
Street Journal or such other source the Committee deems reliable for a single trading day or an average of trading days not to exceed 30 days from the Grant Date, at the Committee’s discretion. 
  
 “Grant Date” means the date on which the Committee completes the
corporate action authorizing the grant of an Award or such later date specified by the Committee, provided that conditions to the exercisability or vesting of Awards shall not defer the Grant Date. 
  
 “Incentive Stock Option” means an Option granted with the intention
that it qualify as an “incentive stock option” as that term is defined in Section 422 of the Code or any successor provision. 
  
 “Layoff” means “Layoff” as defined by the Committee or the Company’s vice president of compensation and benefits for purposes of the
Plan or an Award or in the instrument evidencing the Award or in a written employment or services agreement between the Participant and the Company or a Related Company. 
  
 “Nonqualified Stock Option” means an Option other than an Incentive Stock Option. 
  

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 “Nonrecurring Items” means nonrecurring items deemed not reflective of the Company’s core
operating performance, including, but not limited to, exogenous events, acquisitions, divestitures, changes in accounting principles or “extraordinary items” determined under generally accepted accounting principles. 
  
 “Option” means a right to purchase Common Stock granted under Section
7. 
  
 “Participant” means any eligible person as set forth
in Section 5 to whom an Award is granted. 
  
 “Performance
Criteria” has the meaning set forth in Section 11.1. 
  
 “Performance Share” has the meaning set forth in Section 10.1. 
  
 “Performance Unit” has the meaning set forth in Section 10.2. 
  
 “Plan” means The Boeing Company 2003 Incentive Stock Plan. 
  
 “Related Company” means any entity that is directly or indirectly controlled by the Company. 
  
 “Restricted Stock” means an Award of shares of Common Stock granted
under Section 9, the rights of ownership of which may be subject to restrictions prescribed by the Committee. 
  
 “Retirement” means “Retirement” as defined by the Committee or the Company’s vice president of compensation and benefits for purposes of the Plan or an Award or in the
instrument evidencing the Award or in a written employment or services agreement between the Participant and the Company or a Related Company. 
  
 “Securities Act” means the Securities Act of 1933, as amended from time to time. 
  
 “Stock Appreciation Right” has the meaning set forth in Section 8.1. 
  
 “Stock Unit” means an Award granted under Section 9 denominated in
units of Common Stock. 
  
 “Substitute Awards” means Awards
granted or shares of Common Stock issued by the Company in assumption of, or in substitution or exchange for, awards previously granted by a company acquired by the Company or with which the Company combines. 
  
 “Termination of Service,” unless otherwise defined by the
Committee or the Company’s vice president of compensation and benefits or in the instrument evidencing the Award or in a written employment or services agreement, means a termination of employment or service relationship with the Company or a
Related Company for any reason, whether voluntary or involuntary, including by reason of death, Disability, Retirement or Layoff. Any question as to whether and when there has been a Termination of Service for the purposes of an Award and the cause
of such Termination of Service shall be determined by the Company’s vice president of compensation and benefits or by the Committee with respect to officers subject to the reporting requirements of Section 16(a) of the Securities Act, and such
determination shall be final. Transfer of a Participant’s employment or service relationship between wholly owned subsidiaries of the Company, or between the Company and any wholly owned subsidiaries of the Company, shall not be considered a
Termination of Service for purposes of an Award. Unless the Committee determines otherwise, a Termination of Service shall be deemed to occur if the Participant’s employment or service relationship is with an entity that has ceased to be a
Related Company. 
  

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 Section 3. Administration 
  

	3.1	 	 Administration of the Plan 

  
 The Plan shall be administered by the Compensation Committee of the Board; provided, however, that with respect to nonemployee directors, the Plan shall be
administered by the Governance and Nominating Committee of the Board. Notwithstanding the foregoing, the Board or the Compensation Committee may delegate responsibility for administering the Plan with respect to designated classes of eligible
persons to different committees consisting of one or more members of the Board, subject to such limitations as the Board or the Compensation Committee deems appropriate, except with respect to benefits to nonemployee directors and to officers
subject to Section 16 of the Exchange Act or officers who are or may be Covered Employees. Members of any committee shall serve for such term as the Board may determine, subject to removal by the Board at any time. To the extent consistent with
applicable law, the Board or the Compensation Committee may authorize one or more officers of the Company to grant Awards to designated classes of eligible persons, within limits specifically prescribed by the Board or the Committee; provided,
however, that no such officer shall have or obtain authority to grant Awards to himself or herself or to any person subject to Section 16 of the Exchange Act. All references in the Plan to the “Committee” shall be, as applicable, to the
Compensation Committee, the Governance and Nominating Committee, or any other committee or any officer to whom the Board or the Compensation Committee has delegated authority to administer the Plan. 
  

	3.2	 	 Administration and Interpretation by Committee 

  
 Except for the terms and conditions explicitly set forth in the Plan, the Committee shall have full power and exclusive authority, subject to such orders or
resolutions not inconsistent with the provisions of the Plan as may from time to time be adopted by the Board, to (a) select the eligible persons as set forth in Section 5 to whom Awards may from time to time be granted under the Plan; (b) determine
the type or types of Award to be granted to each Participant under the Plan; (c) determine the number of shares of Common Stock to be covered by each Award granted under the Plan; (d) determine the terms and conditions of any Award granted under the
Plan; (e) approve the forms of agreements for use under the Plan; (f) determine whether, to what extent and under what circumstances Awards may be settled in cash, shares of Common Stock or other property or canceled or suspended; (g) determine
whether, to what extent and under what circumstances cash, shares of Common Stock, other property and other amounts payable with respect to an Award shall be deferred either automatically or at the election of the Participant; (h) interpret and
administer the Plan and any instrument or agreement entered into under the Plan; (i) establish such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan; (j) delegate ministerial duties
to such of the Company’s officers as it so determines; and (k) make any other determination and take any other action that the Committee deems necessary or desirable for administration of the Plan. Decisions of the Committee shall be final,
conclusive and binding on all persons, including the Company, any Participant, any shareholder and any eligible person. A majority of the members of the Committee may determine its actions and fix the time and place of its meetings. 
  
 Section 4. Shares Subject to the Plan 
  

	4.1	 	 Authorized Number of Shares 

  

	 	(a)	 	 Subject to adjustment from time to time as provided in Section 15 and subject to Section 4.1(b), the maximum number of shares of Common Stock available for issuance under
the Plan shall be 30 million. 

  

	 	(b)	 	 The Board, in its sole discretion, may increase the aggregate number of shares of Common Stock available for issuance under this Section 4.1 by up to three million shares
in the event the Company acquires any other corporation or business entity and the Company agrees to substitute Awards for the acquired entity’s obligations for outstanding stock options or stock grant commitments or otherwise grants Awards to
individuals in connection with such acquisition. 

  
  

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	4.2	 	 Share Usage 

  

	 	(a)	 	 Shares of Common Stock covered by an Award shall not be counted as used unless and until they are actually issued and delivered to a Participant. If any Award lapses,
expires, terminates or is canceled prior to the issuance of shares thereunder or if shares of Common Stock are issued under the Plan to a Participant and thereafter are reacquired by the Company, the shares subject to such Awards and the reacquired
shares shall again be available for issuance under the Plan. Any shares of Common Stock (i) tendered by a Participant or retained by the Company as full or partial payment to the Company for the purchase price of an Award or to satisfy tax
withholding obligations in connection with an Award, (ii) covered by an Award that is settled in cash, or (iii) reacquired by the Company on the open market using cash proceeds received by the Company from the exercise of Options shall be available
for Awards under the Plan. The number of shares available for issuance under the Plan shall not be reduced to reflect any dividends or dividend equivalents that are reinvested into additional shares or credited as additional Restricted Stock, Stock
Units, Performance Shares or Performance Units. All shares issued under the Plan may be either authorized and unissued shares or issued shares reacquired by the Company. 

  

	 	(b)	 	 The Committee shall have the authority to grant Awards as an alternative to or as the form of payment for grants or rights earned or due under other compensation plans or
arrangements of the Company. 

  

	 	(c)	 	 Notwithstanding the foregoing, the maximum number of shares that may be issued upon the exercise of Incentive Stock Options shall equal the aggregate share number stated
in Section 4.1, subject to adjustment as provided in Section 15; and provided, further, that for purposes of Section 4.3, any such shares shall be counted in accordance with the requirements of Section 162(m) of the Code.

  

	4.3	 	 Limitations 

  

	 	(a)	 	 Subject to adjustment as provided in Section 15, no Participant shall be eligible to receive in any one calendar year Awards relating to more than two million shares of
Common Stock. 

  

	 	(b)	 	 Subject to adjustment as provided in Section 15, the aggregate number of shares that may be issued pursuant to Awards granted under the Plan (other than Awards of Options
or Stock Appreciation Rights) that are not (i) subject to restrictions based on the satisfaction of specified performance goals or (ii) granted in lieu of the payment of performance-based cash incentive awards shall not exceed six million.

  

	 	(c)	 	 Subject to adjustment as provided in Section 15, the aggregate number of shares that may be issued pursuant to Awards granted under the Plan (other than Awards of Options
or Stock Appreciation Rights) that contain no restrictions or restrictions based solely on continuous employment or services for less than three years (except where Termination of Service occurs by reason of death, Retirement, Disability or Layoff)
shall not exceed 1.5 million. 

  
 Section 5. Eligibility

  
 An Award may be granted to any employee, officer or director of the
Company or a Related Company whom the Committee from time to time selects. An Award may also be granted to any consultant, agent, advisor or independent contractor for bona fide services rendered to the Company or any Related Company that (a) are
not in connection with the offer and sale of the Company’s securities in a capital-raising transaction and (b) do not directly or indirectly promote or maintain a market for the Company’s securities. The above are “eligible
persons.” 
  
 Section 6. Awards 
  
 6.1 Form and Grant of Awards 
  
 The Committee shall have the authority, in its sole discretion, to determine the type
or types of Awards to be granted under the Plan. Such Awards may be granted either alone, in addition to or in tandem with any other type of Award. 
  

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6.2 Evidence of Awards 
  
 Awards granted under the Plan shall be evidenced by a written instrument that shall contain such terms, conditions, limitations and restrictions as the Committee shall deem advisable and that are not
inconsistent with the Plan. 
  

	6.3	 	 Deferrals 

  
 The Committee may permit or require a Participant to defer receipt of the payment of any Award. If any such deferral election is permitted or required, the Committee, in its sole discretion, shall
establish rules and procedures for such payment deferrals, which may include the grant of additional Awards or provisions for the payment or crediting of interest or dividend equivalents, including converting such credits to deferred stock unit
equivalents. 
  
 Section 7. Options 
  

	7.1	 	 Grant of Options 

  
 The Committee may grant Options designated as Incentive Stock Options or Nonqualified Stock Options. 
  

	7.2	 	 Option Exercise Price 

  
 The exercise price for shares purchased under an Option shall be as determined by the Committee, but shall not be less than 100% of the Fair Market Value of the
Common Stock for the Grant Date, except in the case of Substitute Awards. In no event shall the Committee, without the prior approval of the Company’s shareholders, cancel any outstanding Option for the purpose of reissuing the Option to the
Participant at a lower exercise price or reduce the exercise price of an outstanding Option. 
  

	7.3	 	 Term of Options 

  
 Subject to earlier termination in accordance with the terms of the Plan and the instrument evidencing the Option, the maximum term of an Option shall be as established for that Option by the Committee or,
if not so established, shall be ten years from the Grant Date. 
  

	7.4	 	 Exercise of Options 

  
 The Committee shall establish and set forth in each instrument that evidences an Option the time at which, or the installments in which, the Option shall vest and become exercisable, any of which
provisions may be waived or modified by the Committee at any time. 
  
 To
the extent an Option has vested and become exercisable, the Option may be exercised in whole or from time to time in part by delivery as directed by the Company to the Company or a brokerage firm designated or approved by the Company of a written
stock option exercise agreement or notice, in a form and in accordance with procedures established by the Committee, setting forth the number of shares with respect to which the Option is being exercised, the restrictions imposed on the shares
purchased under such exercise agreement, if any, and such representations and agreements as may be required by the Committee, accompanied by payment in full as described in Section 7.5. An Option may be exercised only for whole shares and may not be
exercised for less than a reasonable number of shares at any one time, as determined by the Committee. 
  

	7.5	 	 Payment of Exercise Price 

  
 The exercise price for shares purchased under an Option shall be paid in full as directed by the Company to the Company or a brokerage firm designated or approved
by the Company by delivery of consideration equal to the product of the Option exercise price and the number of shares purchased. Such consideration must be paid before the Company will issue the shares being purchased and must be in a form or a
combination of forms acceptable to the Committee for that purchase, which forms may include: (a) check; (b) wire transfer; (c) tendering by attestation shares of Common Stock already owned by the Participant that on the day prior to the exercise
date have a Fair Market Value equal to the aggregate exercise price of the shares being purchased under the Option; (d) to the extent permitted by applicable law, delivery of a properly executed exercise notice, 
  
  

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 together with irrevocable instructions to a brokerage firm designated or approved by the Company to deliver
promptly to the Company the aggregate amount of sale or loan proceeds to pay the Option exercise price and any tax withholding obligations that may arise in connection with the exercise, all in accordance with the regulations of the Federal Reserve
Board; or (e) such other consideration as the Committee may permit in its sole discretion. 
  

	7.6	 	 Post-Termination Exercise 

  
 The Committee shall establish and set forth in each instrument that evidences an Option whether the Option shall continue to be exercisable, and the terms and
conditions of such exercise, after a Termination of Service, any of which provisions may be waived or modified by the Committee at any time. 
  

	7.7	 	 Incentive Stock Options 

  
 The terms of any Incentive Stock Options shall comply in all respects with the provisions of Section 422 of the Code, or any successor provision, and any
regulations promulgated thereunder. Individuals who are not employees of the Company or one of its parent or subsidiary corporations (as such terms are defined for purposes of Section 422 of the Code) may not be granted Incentive Stock Options. To
the extent that the aggregate Fair Market Value of Common Stock with respect to which Incentive Stock Options are exercisable for the first time by a Participant during any calendar year exceeds $100,000 or, if different, the maximum limitation in
effect at the time of grant under the Code (the Fair Market Value being determined as of the Grant Date for the Option), such portion in excess of $100,000 shall be treated as Nonqualified Stock Options. 
  
 Section 8. Stock Appreciation Rights 
  

	8.1	 	 Grant of Stock Appreciation Rights 

  
 The Committee may grant stock appreciation rights (“Stock Appreciation Rights” or “SARs”) to Participants at any time. An SAR may be granted in
tandem with an Option or alone (“freestanding”). The grant price of a tandem SAR shall be equal to the exercise price of the related Option, and the grant price of a freestanding SAR shall be equal to the Fair Market Value of the Common
Stock for the Grant Date or a period of days not to exceed 30 days prior to and/or after the Grant Date. An SAR may be exercised upon such terms and conditions and for the term as the Committee determines in its sole discretion; provided, however,
that, subject to earlier termination in accordance with the terms of the Plan and the instrument evidencing the SAR, the term of a freestanding SAR shall be as established for that SAR by the Committee or, if not so established, shall be ten years,
and in the case of a tandem SAR, (a) the term shall not exceed the term of the related Option and (b) the tandem SAR may be exercised for all or part of the shares subject to the related Option upon the surrender of the right to exercise the
equivalent portion of the related Option, except that the tandem SAR may be exercised only with respect to the shares for which its related Option is then exercisable. 
  

	8.2	 	 Payment of SAR Amount 

  
 Upon the exercise of an SAR, a Participant shall be entitled to receive payment from the Company in an amount determined by multiplying: (a) the difference between
the Fair Market Value of the Common Stock for the date of exercise over the grant price by (b) the number of shares with respect to which the SAR is exercised. At the discretion of the Committee, the payment upon exercise of an SAR may be in cash,
in shares of equivalent value, in some combination thereof or in any other manner approved by the Committee in its sole discretion. 
  
 Section 9. Restricted Stock and Stock Units 
  

	9.1	 	 Grant of Restricted Stock and Stock Units 

  
 The Committee may grant Restricted Stock and Stock Units on such terms and conditions and subject to such repurchase or forfeiture restrictions, if any (which may
be based on continuous service with the Company or a Related Company or the achievement of any of the Performance Criteria set forth in Section 11.1), as the Committee shall determine in its sole discretion, which terms, conditions and restrictions
shall be set forth in the instrument evidencing the Award. 
  

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	9.2	 	 Issuance of Shares 

  
 Upon the satisfaction of any terms, conditions and restrictions prescribed with respect to Restricted Stock or Stock Units, or upon a Participant’s release from any terms, conditions and restrictions
of Restricted Stock or Stock Units, as determined by the Committee, and subject to the provisions of Section 13, (a) the shares of Restricted Stock covered by each Award of Restricted Stock shall become freely transferable by the Participant, and
(b) Stock Units shall be paid in cash, shares of Common Stock or a combination of cash and shares of Common Stock as the Committee shall determine in its sole discretion. Any fractional shares subject to such Awards shall be paid to the Participant
in cash. 
  

	9.3	 	 Dividends and Distributions 

  
 Participants holding shares of Restricted Stock or Stock Units may, if the Committee so determines, be credited with dividends paid with respect to the underlying
shares or dividend equivalents while they are so held in a manner determined by the Committee in its sole discretion. The Committee may apply any restrictions to the dividends or dividend equivalents that the Committee deems appropriate. The
Committee, in its sole discretion, may determine the form of payment of dividends or dividend equivalents, including cash, shares of Common Stock, Restricted Stock or Stock Units. 
  

	9.4	 	 Waiver of Restrictions 

  
 Notwithstanding any other provisions of the Plan, the Committee, in its sole discretion, may waive the repurchase or forfeiture period and any other terms,
conditions or restrictions on any Restricted Stock or Stock Unit under such circumstances and subject to such terms and conditions as the Committee shall deem appropriate; provided, however, that the Committee may not adjust performance goals for
any Restricted Stock or Stock Unit intended to be exempt under Section 162(m) of the Code for the year in which the Restricted Stock or Stock Unit is settled in such a manner as would increase the amount of compensation otherwise payable to a
Participant. 
  
 Section 10. Performance Shares and Performance Units 
  

	10.1	 	 Grant of Performance Shares 

  
 The Committee may grant Awards of performance shares (“Performance Shares”) and designate the Participants to whom Performance Shares are to be awarded
and determine the number of Performance Shares, the length of the performance period and the other terms and conditions of each such Award. Each Award of Performance Shares shall entitle the Participant to a payment in the form of shares of Common
Stock upon the attainment of performance goals and other terms and conditions specified by the Committee. Notwithstanding satisfaction of any performance goals, the number of shares issued under an Award of Performance Shares may be adjusted on the
basis of such further consideration as the Committee shall determine in its sole discretion. However, the Committee may not, in any event, increase the number of shares earned upon satisfaction of any performance goal by any Covered Employee. The
Committee, in its sole discretion, may make a cash payment equal to the Fair Market Value of the Common Stock otherwise required to be issued to a Participant pursuant to an Award of Performance Shares. It is generally expected that the Committee
will exercise its discretion to make cash settlements of Awards of Performance Shares only with respect to Awards granted to Participants in countries other than the United States. 
  

	10.2	 	 Grant of Performance Units 

  
 The Committee may grant Awards of performance units (“Performance Units”) and designate the Participants to whom Performance Units are to be awarded and
determine the number of Performance Units and the terms and conditions of each such Award. Performance Units shall entitle the Participant to a payment in cash upon the attainment of performance goals and other terms and conditions specified by the
Committee. Notwithstanding the satisfaction of any performance goals, the amount to be paid under an Award of Performance Units may be adjusted on the basis of such further consideration as the Committee shall determine in its sole discretion.

  

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However, the Committee may not, in any event, increase the amount earned under Awards of Performance Units upon satisfaction of any performance goal by any Covered
Employee, and the maximum amount earned by such Covered Employee in any calendar year may not exceed $3,000,000. The Committee, in its discretion, may substitute actual shares of Common Stock for the cash payment otherwise required to be made to a
Participant pursuant to a Performance Unit. 
  
 Section 11. Performance Criteria

  

	11.1	 	 Awards Subject to Performance Goals 

  
 Awards of Restricted Stock, Stock Units, Performance Shares, Performance Units and other Awards made pursuant to the Plan may be made subject to the attainment of
performance goals relating to one or more of the following business criteria within the meaning of Section 162(m) of the Code: profits (including, but not limited to, profit growth, net operating profit or economic profit); profit-related return
ratios; return measures (including, but not limited to, return on assets, capital, equity or sales); cash flow (including, but not limited to, operating cash flow, free cash flow or cash flow return on capital); earnings (including, but not limited
to, net earnings, earnings per share, or earnings before or after taxes); net sales growth; net income (before or after taxes, interest, depreciation and/or amortization); gross or operating margins; productivity ratios; share price (including, but
not limited to, growth measures and total shareholder return); expense targets; margins; operating efficiency; customer satisfaction; and working capital targets (“Performance Criteria”). Performance Criteria may be stated in absolute
terms or relative to comparison companies or indices to be achieved during a period of time. 
  

	11.2	 	 Use and Calculation of Performance Criteria 

  
 Any Performance Criteria may be used to measure the performance of the Company as a whole or any business unit of the Company. Any Performance Criteria may include
or exclude Nonrecurring Items. Performance Criteria shall be calculated in accordance with the Company’s financial statements or generally accepted accounting principles, or under a methodology established by the Committee prior to the issuance
of an Award that is consistently applied and identified in the audited financial statements, including footnotes, or the Management’s Discussion and Analysis section of the Company’s annual report. The Committee may not in any event
increase the amount of compensation payable to a Covered Employee upon the satisfaction of any Performance Criteria. 
  
 Section 12. Other Stock or Cash-Based Awards 
  
 In addition to the Awards described in Sections 7 through 10, and subject to the terms of the Plan, the Committee may grant other incentives payable in cash or in
shares of Common Stock under the Plan as it determines to be in the best interests of the Company and subject to such other terms and conditions as it deems appropriate. 
  
 Section 13. Withholding 
  
 The Company may require the Participant to pay to the Company the amount of (a) any taxes that the Company is required by applicable federal, state, local or
foreign law to withhold with respect to the grant, vesting or exercise of an Award (“tax withholding obligations”) and (b) any amounts due from the Participant to the Company or to any Related Company (“other obligations”). The
Company shall not be required to issue any shares of Common Stock under the Plan until such tax withholding obligations and other obligations are satisfied. 
  
 The Committee may permit or require a Participant to satisfy all or part of his or her tax withholding obligations and other obligations by (a) paying cash to the
Company, (b) having the Company withhold an amount from any cash amounts otherwise due or to become due from the Company to the Participant, (c) having the Company withhold a number of shares of Common Stock that would otherwise be issued to the
Participant (or become vested in the case of Restricted Stock) having a Fair Market Value equal to the tax withholding 
  

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 obligations and other obligations, or (d) surrendering a number of shares of Common Stock the Participant already
owns having a value equal to the tax withholding obligations and other obligations. 
  
 Section 14. Assignability 
  
 No Award or interest in an
Award may be sold, assigned, pledged (as collateral for a loan or as security for the performance of an obligation or for any other purpose) or transferred by the Participant or made subject to attachment or similar proceedings otherwise than by
will or by the applicable laws of descent and distribution, except that to the extent permitted by the Committee, in its sole discretion, a Participant may designate one or more beneficiaries on a Company-approved form who may receive payment under
an Award after the Participant’s death. During a Participant’s lifetime, an Award may be exercised only by the Participant. 
  
 Section 15. Adjustments 
  
 In the event, at any time or from time to time, a stock dividend, stock split, spin-off, combination or exchange of shares, recapitalization, merger, consolidation, distribution to shareholders other than
a normal cash dividend or other change in the Company’s corporate or capital structure results in (a) the outstanding shares of Common Stock, or any securities exchanged therefore or received in their place, being exchanged for a different
number or kind of securities of the Company or of any other company or (b) new, different or additional securities of the Company or of any other company being received by the holders of shares of Common Stock, then the Committee shall make
proportional adjustments in (i) the maximum number and kind of securities available for issuance under the Plan; (ii) the maximum number and kind of securities issuable as Incentive Stock Options as set forth in Section 4.2; (iii) the maximum number
and kind of securities that may be issued to an individual in any one calendar year as set forth in Section 4.3; (iv) the maximum number and kind of securities that may be made subject to the different types of Awards available under the Plan; and
(v) the number and kind of securities that are subject to any outstanding Award and the per share price of such securities, without any change in the aggregate price to be paid therefor. 
  
 The determination by the Committee as to the terms of any of the foregoing adjustments shall be conclusive and binding. 
  
 Notwithstanding the foregoing, the issuance by the Company of shares of stock of any
class, or securities convertible into shares of stock of any class, for cash or property, or for labor or services rendered, either upon direct sale or upon the exercise of rights or warrants to subscribe therefore, or upon conversion of shares or
obligations of the Company convertible into such shares or other securities, shall not affect, and no adjustment by reason thereof shall be made with respect to, outstanding Awards. 
  
 Section 16. Amendment and Termination 
  

	16.1	 	 Amendment, Suspension or Termination of the Plan 

  
 The Board or the Compensation Committee of the Board may amend, suspend or terminate the Plan or any portion of the Plan at any time and in such respects as it
shall deem advisable; provided, however, that, to the extent required by applicable law, regulation or stock exchange rule, shareholder approval shall be required for any amendment to the Plan. 
  

	16.2	 	 Term of the Plan 

  
 Unless sooner terminated as provided herein, the Plan shall terminate ten years from the Effective Date. After the Plan is terminated, no future Awards may be granted, but Awards previously granted shall
remain outstanding in accordance with their applicable terms and conditions and the Plan’s terms and conditions. Notwithstanding the foregoing, no Incentive Stock Options may be granted more than ten years after the earlier of (a) the adoption
of the Plan by the Board and (b) the Effective Date. 
  

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	16.3	 	 Consent of Participant 

  
 The amendment, suspension or termination of the Plan or a portion thereof or the amendment of an outstanding Award shall not, without the Participant’s
consent, materially adversely affect any rights under any Award theretofore granted to the Participant under the Plan. Any change or adjustment to an outstanding Incentive Stock Option shall not, without the consent of the Participant, be made in a
manner so as to constitute a “modification” that would cause such Incentive Stock Option to fail to continue to qualify as an Incentive Stock Option. Notwithstanding the foregoing, any adjustments made pursuant to Section 15 shall not be
subject to these restrictions. 
  
 Section 17. General 
  

	17.1	 	 No Individual Rights 

  
 No individual or Participant shall have any claim to be granted any Award under the Plan, and the Company has no obligation for uniformity of treatment of
Participants under the Plan. 
  
 Furthermore, nothing in the Plan or any
Award granted under the Plan shall be deemed to constitute an employment contract or confer or be deemed to confer on any Participant any right to continue in the employ of, or to continue any other relationship with, the Company or any Related
Company or limit in any way the right of the Company or any Related Company to terminate a Participant’s employment or other relationship at any time, with or without cause. 
  

	17.2	 	 Issuance of Shares 

  
 Notwithstanding any other provision of the Plan, the Company shall have no obligation to issue or deliver any shares of Common Stock under the Plan or make any other distribution of benefits under the Plan
unless, in the opinion of the Company’s counsel, such issuance, delivery or distribution would comply with all applicable laws (including, without limitation, the requirements of the Securities Act or the laws of any state or foreign
jurisdiction) and the applicable requirements of any securities exchange or similar entity. 
  
 The Company shall be under no obligation to any Participant to register for offering or resale or to qualify for exemption under the Securities Act, or to register or qualify under the laws of any state or foreign jurisdiction,
any shares of Common Stock, security or interest in a security paid or issued under, or created by, the Plan, or to continue in effect any such registrations or qualifications if made. The Company may issue certificates for shares with such legends
and subject to such restrictions on transfer and stop-transfer instructions as counsel for the Company deems necessary or desirable for compliance by the Company with federal, state and foreign securities laws. The Company may also require such
other action or agreement by the Participants as may from time to time be necessary to comply with applicable securities laws. 
  
 To the extent the Plan or any instrument evidencing an Award provides for issuance of stock certificates to reflect the issuance of shares of Common Stock, the
issuance may be effected on a noncertificated basis, to the extent not prohibited by applicable law or the applicable rules of any stock exchange. 
  

	17.3	 	 Indemnification 

  
 Each person who is or shall have been a member of the Board, or a committee appointed by the Board, or an officer of the Company to whom authority was delegated in accordance with Section 3 shall be
indemnified and held harmless by the Company against and from any loss, cost, liability or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit or proceeding to which he
or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under the Plan and against and from any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid
by him or her in satisfaction of any judgment in any such claim, action, suit or proceeding against him or her; provided, however, that he or she shall give the Company an opportunity, at its own expense, to handle and defend the same before he or
she undertakes to handle and defend it on his or her own behalf, unless such loss, cost, liability or expense is a result of his or her own willful misconduct or except as expressly provided by statute. 
  

 -10- 

 The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such
persons may be entitled under the Company’s certificate of incorporation or bylaws, as a matter of law, or otherwise, or of any power that the Company may have to indemnify them or hold them harmless. 
  

	17.4	 	 No Rights as a Shareholder 

  
 Unless otherwise provided by the Committee or in the instrument evidencing the Award or in a written employment or services agreement, no Option or Award
denominated in units shall entitle the Participant to any cash dividend, voting or other right of a shareholder unless and until the date of issuance under the Plan of the shares that are the subject of such Award. 
  

	17.5	 	 Compliance With Laws and Regulations 

  
 Notwithstanding anything in the Plan to the contrary, the Committee, in its sole discretion, may bifurcate the Plan so as to restrict, limit or condition the use of
any provision of the Plan to Participants who are officers or directors subject to Section 16 of the Exchange Act without so restricting, limiting or conditioning the Plan with respect to other Participants. Additionally, in interpreting and
applying the provisions of the Plan, any Option granted as an Incentive Stock Option pursuant to the Plan shall, to the extent permitted by law, be construed as an “incentive stock option” within the meaning of Section 422 of the Code.

  

	17.6	 	 Participants in Other Countries 

  
 The Committee shall have the authority to adopt such modifications, procedures and subplans as may be necessary or desirable to comply with provisions of the laws
of other countries in which the Company or any Related Company may operate to ensure the viability of the benefits from Awards granted to Participants employed in such countries, to comply with applicable foreign laws and to meet the objectives of
the Plan. 
  

	17.7	 	 No Trust or Fund 

  
 The Plan is intended to constitute an “unfunded” plan. Nothing contained herein shall require the Company to segregate any monies or other property, or shares of Common Stock, or to create any
trusts, or to make any special deposits for any immediate or deferred amounts payable to any Participant, and no Participant shall have any rights that are greater than those of a general unsecured creditor of the Company. 
  

	17.8	 	 Successors 

  
 All obligations of the Company under the Plan with respect to Awards shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect
purchase, merger, consolidation, or otherwise, of all or substantially all the business and/or assets of the Company. 
  

	17.9	 	 Severability 

  
 If any provision of the Plan or any Award is determined to be invalid, illegal or unenforceable in any jurisdiction, or as to any person, or would disqualify the Plan or any Award under any law deemed
applicable by the Committee, such provision shall be construed or deemed amended to conform to applicable laws, or, if it cannot be so construed or deemed amended without, in the Committee’s determination, materially altering the intent of the
Plan or the Award, such provision shall be stricken as to such jurisdiction, person or Award, and the remainder of the Plan and any such Award shall remain in full force and effect. 
  

	17.10	 	 Choice of Law 

  
 The Plan, all Awards granted thereunder and all determinations made and actions taken pursuant hereto, to the extent not otherwise governed by the laws of the United States, shall be governed by the laws
of the State of Illinois without giving effect to principles of conflicts of law. 
  

 -11- 

 Section 18. Effective Date 
  
 The Plan shall become effective (the “Effective Date”) immediately following shareholder approval of the Plan on April 28, 2003. 
  

 -12-Supplemental Executive Retirement Plan for Employees of The Boeing Company

 EXHIBIT 10(xxi) 
  
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
 FOR EMPLOYEES OF
THE BOEING COMPANY 
 (As Amended and Restated on June 30, 2003) 
  
 SECTION 1. PURPOSE OF THE PLAN. 
  
 The Supplemental Executive Retirement Plan for Employees of The Boeing Company is effective January 1, 1999. Its purpose is to provide retirement benefits to
supplement the benefits provided by the Pension Value Plan, for a select group of management or highly compensated employees of The Boeing Company and its Affiliates or Subsidiaries who are participants in the Pension Value Plan. It is also designed
to provide restoration and excess benefits to eligible employees of The Boeing Company and its Affiliates or Subsidiaries who are participants in the Pension Value Plan. 
  
 The adoption of the Plan is not intended to result in any duplication of benefits by awarding additional benefits for any period of
service with the Company for which the participant is otherwise entitled to benefits under another non-qualified plan. The Committee will have sole and absolute discretion in determining whether an adjustment in benefits under this Plan is necessary
to prevent a prohibited duplication of benefits. 
  
 SECTION 2. DEFINITIONS.

  
 Except as otherwise specified in this Section, capitalized terms
have the same meaning as provided for those terms under the Pension Value Plan. 
  
 Committee – means the Employee Benefit Plans Committee. 
  
 Company – means The Boeing Company, its successors in interest, and its Affiliates and Subsidiaries. 
  
 Compensation – means annualized base rate of pay.  
  
 Final Average Pay – means the greater of the following: 
  

	 	(a)	 	 the highest five completed consecutive calendar years of Compensation divided by five, or 

  

	 	(b)	 	 the daily Compensation received during the last 1,825 days before the participant’s Termination of Employment, divided by 1,825 and multiplied by 365 or, if a
participant has less than 1,825 days between his or her Employment Commencement Date and his or her Termination of Employment, the Compensation received during that period divided by the number of days in that period and multiplied by 365.

  
 For purposes of computing Final
Average Pay, periods during an Authorized Period of Absence will be included as if the participant was compensated at the rate of pay he or 

  

 - 1 - 

 
she was receiving immediately before the Authorized Period of Absence, and February 29 and March 1 of any leap year shall be treated as one day. 
  
 Final Average Incentive Pay – means the sum of the highest five consecutive
awards (or if five awards have not been made during the five year averaging period, all the awards) made under the Incentive Compensation Plan (including amounts awarded instead of cash and amounts not yet vested, but not including any accrued
awards not yet made or awards made after the month in which a Termination of Employment occurs), divided by five. 
  
 Frozen Benefit – has the meaning given in Section 3.H.3. 
  
 Heritage Boeing Participant – means a participant who has a Heritage Benefit from The Boeing Company Employee Retirement Plan. 
  
 Heritage MDC Participant – means a participant who has a Heritage Benefit from the Employee Retirement Income Plan of
McDonnell Douglas Corporation, Salaried Plan. 
  
 Heritage BNA
Participant – means a participant who has a Heritage Benefit from the Boeing North American Retirement Plan. 
  
 Incentive Compensation Plan – means the Incentive Compensation Plan for Officers and Employees of The Boeing Company and Subsidiaries. 
  
 Offset Benefit – has the meaning given in Section 3.B. 
  
 PVP or Pension Value Plan – means The Pension Value Plan for Employees of
The Boeing Company, The Boeing Company Pension Value Plan for Heritage MDC Employees and The Boeing Company Pension Value Plan, as amended from time to time. 
  
 Plan – means the Supplemental Executive Retirement Plan for Employees of The Boeing Company as herein set forth, together with any amendments that may
be adopted. 
  
 Retirement Date – means the Retirement Date as
defined in the PVP, or the Vested Termination Commencement Date. 
  
 Restoration and Excess Benefit – means the benefits provided by Section 4 of this Plan. 
  
 Supplemental Benefit – means the benefits provided by Section 3 of this Plan.  
  
 Target Benefit – has the meaning given in Section 3.B. 
  
 Total Average Compensation – means Final Average Pay plus Final Average Incentive Pay, with the result divided by twelve. Total Average Compensation for
a participant who ceased to be on the E-series payroll before January I, 1999 will be determined as of January 1, 1999. Total Average Compensation for a participant who ceases to be on the E-series payroll on or after January 1, 1999 will be
determined as of the date the participant first ceases to be on the E-series payroll. 
  

 - 2 - 

 SECTION 3. THE SUPPLEMENTAL BENEFIT. 
  

	 	A.	 	 Eligibility and Participation. 

  
 An Employee will be eligible for the Supplemental Benefit if the Employee either (1) is on the E-series payroll on or after January 1, 1999, or (2) was a
participant in the Supplemental Retirement Plan for Executives of The Boeing Company as of December 31, 1998 and as of January 1, 1999 was (a) on an Authorized Period of Absence from the E-Series payroll, (b) on a layoff (bridging period) from the
E-series payroll that began on or after January 1, 1996, or (c) on the management payroll but had been on the E-series payroll for some period on or after January 1, 1989. 
  
 An Employee who retires on January 1, 1999 is not eligible to participate in the Plan. 
  
 An Employee eligible to participate in the Plan will become a participant on the later
of (1) the date the Employee satisfies the eligibility conditions or (2) the date the Employee becomes a participant in the PVP. 
  
 If a participant remains actively employed by the Company, but is no longer on the E-series payroll, the Target Benefit will remain frozen as of the later of
January 1, 1999 or the date the participant was removed from the E-series payroll. 
  

	 	B.	 	 Amount of Supplemental Benefit. 

  
 Except as otherwise provided in Section H, the Supplemental Benefit payable to a participant retiring at his or her Normal Retirement Date is a monthly amount equal
to (1) minus (2) below, provided that the monthly Supplemental Benefit shall not be less than zero. 
  

	 	(1)	 	 the greater of the following: 

  
 (a) the Target Benefit – a monthly amount equal to 1.6% multiplied by the participant’s Benefit Service multiplied by the
participant’s Total Average Compensation, less any reduction required by Section 3.H.4., or 
  
 (b) the Frozen Benefit, as described in Section 3.H.3., if applicable, 
  
 provided, however, that the amount determined under this Section 3.B.(1) shall not exceed the participant’s Compensation at Termination of
Employment divided by twelve. 
  

	 	(2)	 	 the Offset Benefit – a monthly amount equal to the benefits payable to or on account of the participant under the PVP without regard to the limits provided under Code
Sections 415 and 401(a)(17), adjusted to reflect payment at the participant’s Retirement Date as a Single Life Annuity according to the provisions of the PVP. 

  

 - 3 - 

 If the participant retires after his or her Normal Retirement Date, calculation of the Target Benefit will include
Compensation and Benefit Service attained before and after the Normal Retirement Date, and the Offset Benefit will be adjusted to reflect the late retirement according to the provisions of the PVP. 
  

	 	C.	 	 Early Retirement Benefits and Vested Retirement Benefits. 

  
 Subject to the reductions described below, a participant will be entitled to retire and commence benefits before his or her Normal
Retirement Date in accordance with the provisions of the PVP governing early retirement benefits and vested retirement benefits. 
  
 If the participant retires directly from active employment with the Company and commences benefits before his or her Normal Retirement Date, the Target Benefit will
be reduced by  1/4% for each month that the participant’s Retirement Date precedes the participant’s sixty-second birthday. The Offset Benefit will be adjusted to reflect the early
retirement according to the provisions of the PVP. 
  
 If the
participant terminates employment with a vested Supplemental Benefit and commences benefits before his or her Normal Retirement Date, the Target Benefit will be reduced by  1/2% for each month that the participant’s benefit commencement date precedes the participant’s sixty-fifth birthday. The Offset Benefit will be adjusted to reflect the
participant’s early commencement of benefits according to the provisions of the PVP. 
  

	 	D.	 	 Disability Retirement Benefits. 

  
 A participant who is on an approved medical leave of absence on or before April 1, 2003 and who otherwise meets the eligibility requirements for a Disability
Retirement Date under the PVP on or before December 1, 2004 will be entitled to a disability retirement benefit equal to his unreduced Supplemental Benefit in accordance with the provisions of the PVP governing disability retirement benefits. The
participant will receive the disability retirement benefit under this Plan when and only when the participant receives disability retirement benefits under the PVP. 
  

	 	E.	 	 Vesting and Forfeiture. 

  
 No Supplemental Benefit shall be payable to a participant until such participant is vested in such Supplemental Benefit. A participant will vest 100% in his
Supplemental Benefit at the later of the following: (1) the date the participant vests 100% in retirement benefits provided under the PVP, or (2) the date the participant has been on the E-series payroll for a period of 36 consecutive months. For
these purposes, an Authorized Period of Absence from the E-series payroll will count as a period on the E-series payroll. 
  
 Any Participant who is on the E-series payroll on January 1, 1999 or was a participant in the Supplemental Retirement Plan for Executives of The Boeing Company as
of December 31, 1998, will be 100% vested in his or her Supplemental Benefit if he or she is vested in his or her benefits under the PVP. A participant will also be 100% vested if he or she dies before benefits 

  

 - 4 - 

 
commence with a surviving spouse or becomes eligible for a disability retirement benefit, but only if he or she has vested in his or her benefits under the PVP.

  
 If a participant retires or terminates employment before vesting in the
Supplemental Benefit, the participant will forfeit all rights to a Supplemental Benefit. For purposes of aggregating service upon rehire or return from layoff, the rules of the PVP will apply, provided that service before and after a Severance from
Service Date will not be aggregated for purposes of determining the 36 consecutive months on the E-series payroll. 
  
 The Committee may determine, in its sole discretion, that a participant will forfeit any part or all of his or her Supplemental Benefit (whether or not vested) in either of the following circumstances:

  

	 	(1)	 	 the participant is convicted of a felony involving theft, fraud, embezzlement, or other similar unlawful acts committed against the Company or against the Company’s
interests; or 

  

	 	(2)	 	 the participant engages in an activity, whether individually or as an employee, consultant or otherwise, which the Committee determines to be in competition with any
significant aspect of the Company’s business. 

  
 The
forfeiture provisions will continue to apply until all Supplemental Benefits have been paid, unless and to the extent modified by a court of competent jurisdiction. 
  

	 	F.	 	 Payment of Benefits. 

  
 A participant’s Supplemental Benefit will commence at the same time as the participant begins to receive benefits under the PVP. 
  

	 	1.	 	 Late Retirement 

  
 If a participant continues to work for the Company or its Affiliates or Subsidiaries after the participant’s Age 70 1/2 Distribution Date, the Supplemental Benefit will be paid in the form of a Single Life Annuity until the participant’s
Late Retirement Date. 
  

	 	2.	 	 Retirement 

  
 The provisions of this Section 3.F.2. shall apply upon the Participant’s Retirement Date. The Supplemental Benefit will be paid in the form of a Single Life Annuity unless the participant, with the
consent of the Committee (which may be given or withheld for any reason), elects otherwise. The participant may, in accordance with the provisions of the PVP, elect either a Surviving Spouse Option (provided that the joint annuitant must be the
participant’s spouse) or a Life and Ten Year Certain Option. Before the Participant’s Retirement Date, the participant may also change any election previously made. The participant’s form of benefit payment need not match any election
the participant has made under the PVP. If the present value of the Supplemental Benefit at the date benefits are to commence is $10,000 or less, determined 

  

 - 5 - 

 
according to the rules governing involuntary cash outs under the PVP, then the benefit will be paid in the form of a lump sum payment. 
  
 If the participant receives his or her benefit as a Surviving Spouse Option and
survives his or her spouse, the participant’s monthly payment will increase, commencing at the spouse’s death, to equal the monthly payment the participant would have received had he or she elected a Single Life Annuity. 
  

 - 6 - 

	 	G.	 	 Death Benefits. 

  
 If a participant dies before benefits commence under the Plan, a death benefit based upon the participant’s accrued Supplemental Benefit at the time of death
will be payable to his or her surviving spouse in accordance with the provisions of the PVP. No death benefit will be payable to a non-spouse. 
  
 If the present value of the death benefit at the participant’s death is $10,000 or less, determined according to the rules governing involuntary cash outs
under the PVP, then the benefit will be paid in the form of a lump sum payment. 
  
 If the surviving spouse dies while receiving benefit payments, no further payments will be made to his or her estate or beneficiaries. If the participant dies after his or her benefits commence, benefits will be paid in accordance with the
participant’s election as to the form of benefit. 
  

	 	H.	 	 Transfers. 

  
 Effective January 1, 1999, certain participants in certain of the qualified plans sponsored by the Company and its Affiliates or Subsidiaries were transferred from
those qualified plans to the PVP. In addition, effective July 1, 1999, certain participants in the Boeing North American Retirement Plan were transferred from that plan to the PVP. In conjunction with the transfer to the PVP, those participants were
also transferred from various non-qualified plans in which they participated into this Plan. As of October 5, 2000, certain participants in The Times Mirror Pension Plan became participants in the PVP. 
  
 The following provisions are intended to insure that no benefits were lost as a result
of transfers into this Plan or otherwise. These provisions are not intended to result in any duplication of benefits by awarding additional benefits for any period of service with the Company for which the participant is otherwise entitled to
benefits under another non-qualified plan. 
  

	 	1.	 	 Final Average Pay 

  
 For Heritage Boeing and Heritage MDC Participants, Final Average Pay will equal the greater of (1) Final Average Pay as defined in Section 2, or (2) the following
amount as calculated solely for the period ending January 1, 1999: 
  

	 	(a)	 	 For Heritage Boeing Participants, the portion of Final Average Monthly Total Earnings as defined in the Supplemental Retirement Plan for Executives of The Boeing Company,
determined by reference to Final Average Monthly Earnings as defined in The Boeing Company Employee Retirement Plan, multiplied by twelve; 

  

	 	(b)	 	 For Heritage MDC Participants, the portion of Average Monthly Salary as defined in the Employee Retirement Income Plan of McDonnell Douglas Corporation, Salaried Plan
determined without inclusion of any payments of incentive 

  

 - 7 - 

	 	 
compensation awards and without regard to any compensation limits under the Code, multiplied by twelve. 

  

	 	2.	 	 Final Average Incentive Pay 

  
 For Heritage Boeing and Heritage MDC Participants, Final Average Incentive Pay will equal the greater of (1) Final Average Incentive Pay as defined in Section 2, or
(2) the following amount as calculated solely for the period ending January 1, 1999: 
  

	 	(a)	 	 For Heritage Boeing Participants, the portion of Final Average Monthly Total Earnings as defined in the Supplemental Retirement Plan for Executives of The Boeing Company,
determined by reference to awards under the Incentive Compensation Plan, multiplied by twelve; 

  

	 	(b)	 	 For Heritage MDC Participants, the portion of Average Monthly Salary as defined in the Employee Retirement Income Plan of McDonnell Douglas Corporation, Salaried Plan
determined by reference to incentive compensation awards of such participants, multiplied by twelve. 

  
 For Heritage Boeing Participants retiring during February or March 1999, this section will be applicable through such participant’s Retirement Date, so that
the Final Average Incentive Pay calculated under (a) above will include awards made in 1999 under the Incentive Compensation Plan. 
  

	 	3.	 	 Frozen Benefit 

  
 For a Heritage Boeing Participant, the Frozen Benefit will be the participant’s benefits under the Supplemental Retirement Plan for Executives of The Boeing
Company determined as of January 1, 1999, adjusted according to the provisions of the PVP for commencement of benefits on the participant’s Retirement Date and for payment in the form of a Single Life Annuity. 
  
 For a participant on the E-series payroll as of July 1, 1999 who was eligible to retire
from the Boeing North American Retirement Plan as of June 30, 1999, that participant’s Frozen Benefit as of June 30, 1999 will equal the Target Benefit (as defined in Section 3.B.) as of June 30, 1999 plus the participant’s benefit under
the Boeing North American Retirement Plan and Boeing North American non-qualified plans as of June 30, 1999, all adjusted according to the provisions of the PVP for commencement of benefits on June 30, 1999 and for payment in the form of a Single
Life Annuity. 
  

	 	4.	 	 Target Benefit 

  
 For Heritage BNA Participants, the Target Benefit shall be reduced by any benefit received under Section 4.B. as a restoration benefit for the failure to include
deferred bonus payments as compensation under the Boeing North America Retirement Plan, adjusted to reflect payment at the participant’s Retirement Date as a Single Life Annuity according to the provisions of the PVP. 
  

 - 8 - 

	 	5.	 	 Times Mirror Indexing Benefit 

  
 As the result of the Company’s acquisition of Jeppesen Sanderson, Inc., its two subsidiaries (Jeppesen DataPlan, Inc. and Nobeltec Corporation), and Airspace
Safety Analysis Corporation (“ASAC”), certain participants in the PVP were provided a Jeppesen/ASAC Indexing Benefit, but no Benefit Service was provided for Periods of Service prior to October 5, 2000. Notwithstanding Section 3.B., the
calculation of the Offset Benefit under this Plan shall not include the Jeppesen/ASAC Indexing Benefit. 
  

 - 9 - 

 SECTION 4. THE RESTORATION AND EXCESS BENEFITS. 
  

	 	A.	 	 Eligibility. 

  
 An Employee will be eligible for a Restoration and Excess Benefit if the Employee is entitled to a benefit from the PVP and such benefit is limited by Code Sections
415 and/or 401(a)(17). 
  

	 	B.	 	 Amount of Restoration and Excess Benefits. 

  
 A participant’s Restoration and Excess Benefit is equal to the participant’s benefits under the PVP determined without regard to the limitations under
Code Sections 415 and 401(a)(17), reduced (but not below zero) by any benefit payable to or on account of the participant under the PVP. 
  
 For Heritage BNA Participants, the Restoration and Excess Benefit shall also include any benefit accrued as of June 30, 1999 under the Unfunded Supplemental
Deferred Compensation Plan for Employees who are Participating in the Rockwell International Deferred Compensation Plan due to the failure to include deferred bonuses as compensation under the Boeing North American Retirement Plan, indexed after
June 30, 1999 for increases in compensation in accordance with the provisions governing the participant’s Heritage Benefit under the PVP. 
  
 The Restoration and Excess Benefit is not intended to duplicate any similarly determined benefit under any other non-qualified plan. 
  

	 	C.	 	 Adjustments for Retirement Dates other than the Normal Retirement Date. 

  
 The Restoration and Excess Benefit will be adjusted for a participant’s Retirement Date that is not his or her Normal Retirement
Date according to the same rules governing such adjustments under the PVP. 
  

	 	D.	 	 Vesting and Forfeiture. 

  
 The Restoration and Excess Benefit will vest and be forfeited according to the same rules governing vesting and forfeitures under the PVP, provided that the
provisions of Section 3.E. governing forfeiture of the Supplemental Benefit due to commission of a felony against or competition with the Company, will also be applicable to the Restoration and Excess Benefit. 
  

	 	E.	 	 Payment of Benefit. 

  
 The Restoration and Excess Benefit will be paid at the same time and in the same form that the participant has elected under the PVP, unless the Committee, in its
sole discretion, elects another form of payment provided under the PVP. If the participant is paid his or her benefit under the PVP as an involuntary cashout under the provisions of the PVP, the participant will receive the Restoration and Excess
Benefit in the form of a lump sum payment. 
  

 - 10 - 

	 	F.	 	 Death Benefit. 

  
 Death benefits based upon the participant’s accrued Restoration and Excess Benefit at the time of his or her death will be payable in the manner and under the
rules provided in the PVP. 
  
 SECTION 5. NONASSIGNABILITY. 
  
 Except as otherwise provided herein, the Supplemental Benefit and the Restoration and
Excess Benefit shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, charge, execution, attachment, garnishment or any other legal process. Any attempt to take any such action shall be void and shall
authorize the Committee, in its sole and absolute discretion, to forfeit all further right and interest in any benefit under this Plan. The Committee may, however, recognize domestic relations orders, subject to the same rules and procedures
governing qualified domestic relations orders under the PVP, and provided that any benefits transferred due to such domestic relations order shall reduce any benefits to which the participant would otherwise be entitled under this Plan. In addition,
the Supplemental Benefit and/or the Restoration and Excess Benefit may be reduced by the amount of any tax obligation paid by the Company, its Affiliates or Subsidiaries on behalf of a participant or surviving spouse if the participant or surviving
spouse fails to reimburse the Company or an Affiliate or Subsidiary for such obligation. 
  
 SECTION 6. FUNDING. 
  
 The Plan shall be unfunded,
and all benefits provided under the Plan will be paid only from the general assets of the Company. The Plan constitutes a mere promise by the Company to make future benefit payments pursuant to the terms of the Plan. No participant or beneficiary
will have any rights to any Plan benefits except as a general, unsecured creditor of the Company. 
  
 SECTION 7. ADMINISTRATION. 
  
 The Plan shall be
administered by the Committee. The Committee shall make such rules, interpretations, determinations of fact and computations as it may, in its sole and absolute discretion, deem appropriate. Any decision of the Committee with respect to the Plan,
including (without limitation) any calculation of a benefit, shall be conclusive and binding on all persons. 
  
 SECTION 8. AMENDMENT AND TERMINATION. 
  
 The Board of Directors of The Boeing Company shall have the authority to amend or terminate the Plan at any time. The Board of Directors of The Boeing Company may delegate the authority to amend the Plan at any time, in its sole discretion.
Such amendment or termination shall not adversely affect or impair the benefit entitlements in course of payment to retired employees and surviving spouses, the contingent rights to the continuance of benefit payments of the spouses of retired
employees named as joint annuitants, or the accrued benefit as defined in this Section of all eligible employees then in the employ of the Company. 
  

 - 11 - 

 For the purpose of this section, an accrued benefit will be determined for each eligible employee in accordance
with the provisions of Sections 3 and 4 but based on Benefit Service, Total Average Compensation, Compensation and the accrued benefit provided by the PVP, all determined as of the effective date of the amendment or termination. Payment of benefits
based on such an accrued benefit will be made in accordance with the terms of this Plan to the employee if he or she retires under the PVP, or to his or her surviving spouse if he or she dies while in the employ of the Company and leaves a spouse
eligible for a pre-retirement survivor’s annuity under the PVP. 
  
 SECTION 9.
DISTINCT STATUS OF PLANS. 
  
 For purposes of Title I of the
Employee Retirement Income Security Act of 1974, as amended, the Plan shall consist of the following three distinct employee benefit plans: (1) a plan granting the Supplemental Benefit; (2) a plan granting the portion of the Restoration and Excess
Benefit determined by disregarding the limitations imposed by Section 415 of the Code; and (3) a plan granting the portion of the Restoration and Excess Benefit determined by disregarding the limitations imposed by Section 401(a)(17) of the Code.

  
 SECTION 10. EMPLOYMENT RIGHTS. 
  
 Nothing in the Plan shall be deemed to give any person any right to remain in the
employ of the Company or affect any right of the Company to terminate a person’s employment with or without cause. 
  
 SECTION 11. CLAIMS PROCEDURE. 
  
 The procedures for making claims for benefits under the Plan and for having the denial of a benefits claim reviewed shall be the same as those procedures set forth in the PVP. 
  

 - 12 -

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