Document:

RAYTHEON SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

 Exhibit 10.11 
  
 RAYTHEON 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
  
 ARTICLE
I 
 NAME, PURPOSE, AND EFFECTIVE DATE 
  
 The Raytheon Supplemental Executive Retirement Plan (“Plan”) is hereby established effective August 1, 2001. The Plan is a nonqualified,
unfunded plan designed to provide supplemental retirement benefits to a select group of management or highly compensated employees within the meaning of Section 201(2) of ERISA. 
  
 ARTICLE II 
 DEFINITIONS 
  
 When used herein, the following
terms shall have the following meanings unless a different meaning is clearly required by the context of the Plan. 
  
 2.1 Affiliate. “Affiliate” shall mean a trade or business that, together with Raytheon Company, is a member of (i) a
controlled group of corporations within the meaning of Section 414(b) of the Code; (ii) a group of trades or businesses (whether or not incorporated) under common control as defined in Section 414(c) of the Code, or (iii) an affiliated service group
as defined in Section 414(m) of the Code, or which is an entity otherwise required to be aggregated with Raytheon Company pursuant to Section 414(o) of the Code. 
  
 2.2 Applicable Retirement Plan. “Applicable Retirement Plan” shall mean the qualified defined
benefit pension plan maintained by the Employer in which a Participant is accruing benefits at the time he or she terminates employment with the Company and all Affiliates. If a Participant is accruing benefits under more than one qualified defined
benefit pension plan at such time, the Applicable Retirement Plan shall be the plan in which the Participant is entitled to the greatest benefit (comparing single life annuities commencing at normal retirement age as computed under the terms of the
respective plans). 
  
 2.3 Code. The
“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 
  

 2.4 Company. “Company” shall mean Raytheon Company and any successor
thereto by merger, consolidation or reorganization whose board of directors adopts this Plan. 
  
 2.5 Earliest Accrual Date. “Earliest Accrual Date” shall mean the first day of the month coincident with or immediately following the date an Eligible Executive both attains at least age
55 and completes at least 10 Years of Service, provided the Eligible Executive is an Employee on such date or terminated employment no more than one month before such date. 
  
 2.6 Eligible Executive. “Eligible Executive” shall mean an Employee who is a member of the
select group of management or highly compensated employees as provided in Section 201(2) of ERISA, who is selected to participate in the Plan by the Plan Administrator and who is listed as an Eligible Executive in Appendix A to this Plan.

  
 2.7 Employee. “Employee” shall
mean any person employed by an Employer, who is expressly so designated as an employee on the books and records of the Employer, and who is treated as such by the Employer for federal employment tax purposes. Any person who, after the close of a
Plan Year, is retroactively treated by an Employer, or any other party as an Employee for such prior Plan Year, shall not, for purposes of the Plan, be considered an Employee for such prior Plan Year unless expressly so treated as such by the
Employer. 
  
 2.8 Employer.
“Employer” shall mean the Company and any Affiliate or division of the Employer or an Affiliate which adopts this Plan with the consent of the Company. 
  
 2.9 ERISA. “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended
from time to time. 
  
 2.10 Estimated Primary Social
Security Benefit. “Estimated Primary Social Security Benefit” shall mean the Estimated Primary Social Security Benefit as determined under the Raytheon Company Pension Plan for Salaried Employees. If benefit payments commence
under this Plan before a Participant is first eligible to receive unreduced Social Security Benefits, the Estimated Primary Social Security Benefit described in the preceding sentence shall be reduced to the Social Security Benefit the Participant
would be entitled to receive if he or she elected to receive Social Security Benefits on the first date that he or she could elect to receive reduced Social Security Benefits on or after the date benefits commence under this Plan. 
  
 2.11 Final Average Earnings. “Final Average
Earnings” shall mean the final average earnings that are taken into account for purposes of computing the retirement 

  

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benefit of a Participant under the Applicable Retirement Plan, determined without application of the limitation on compensation imposed by Section 401(a)(17)
of the Code. If an Applicable Retirement Plan does not use final average earnings to determine retirement benefits, Final Average Earnings shall mean the final average earnings as defined under the Raytheon Company Pension Plan for Salaried
Employees, determined without application of the limitation on compensation imposed by Section 401(a)(17) of the Code. 
  
 2.12 Participant. “Participant” shall mean any Employee eligible to receive benefits under this Plan. 
  
 2.13 Plan Administrator. “Plan Administrator”
shall mean the Board of Directors of the Company or its delegate. 
  
 2.14 Plan Year. “Plan Year” shall mean the twelve (12) consecutive month period commencing January 1 and ending December 31, with the exception that the first Plan Year shall be the short year commencing
August 1, 2001 and ending December 31, 2001. 
  
 2.15
Service. “Service” shall mean, except as otherwise provided in Appendix A to this Plan, the period of time beginning on the date an Eligible Employee is first credited with an hour of service with the Company or any
Affiliate (and any predecessors thereto) and ending on the date an Eligible Employee terminates employment with the Company and all Affiliates. Except as otherwise provided in Appendix A to this Plan, if an Eligible Employee terminates employment
with the Company and all Affiliates before he or she reaches the Earliest Accrual Date, the Service completed before the termination of employment shall not be taken into account under this Plan if he or she is subsequently re-employed by an
Employer unless such Employee is re-designated by the Plan Administrator as an Eligible Employee following re-employment; in which case, the Service completed before the termination of employment shall be taken into account (and no Service shall be
credited for the period of non-employment). 
  
 2.16 Year
of Service. “Year of Service” shall mean twelve (12) months of Service. 
  
 ARTICLE III 
 ELIGIBILITY 
  
 3.1 Eligibility. Subject to the conditions of Section 3.2, an Employee shall be eligible to participate
in this Plan only if he or she is designated by the Plan Administrator in writing as an Eligible Employee. 
  

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 3.2 Retirement Benefit Information. As a condition precedent to receiving benefits
under this Plan, an Eligible Employee must provide the Plan Administrator or its delegate with all of the information reasonably requested to determine the amount of the Eligible Employee’s retirement benefits from all defined benefit pension
plans, including both qualified and nonqualified arrangements, maintained by the Company and all Affiliates and all other employers, and the retirement benefits to which the Eligible Employee will be eligible to receive under Social Security. If
such information is not fully provided, an Eligible Employee will not be entitled to any benefits under this Plan. If, after the commencement of benefit payments under this Plan, the Plan Administrator determines that the information provided was
not complete or accurate, the Plan Administrator may take all appropriate actions, including, but not limited to, discontinuing benefit payments, adjusting future benefit payments and/or seeking to recover prior benefit payments. 
  
 ARTICLE IV  
 BENEFITS 
  
 4.1 Supplemental Retirement Benefit. An Eligible Executive shall be entitled to a Supplemental Retirement Benefit on his or her Earliest Accrual Date; provided the Eligible Executive is an Employee on such date or
terminated employment no more than one month before such date. The Supplemental Retirement Benefit shall be an amount equal to the “Initial Retirement Benefit” reduced by the “Offset Amount.” 
  
 (a) Initial Retirement Benefit: The Initial Retirement Benefit as of
an Eligible Executive’s Earliest Accrual Date shall be a single life annuity equal to thirty-five percent (35%) of his or her Final Average Earnings. For each month of Service performed after an Eligible Employee both (i) attains age 55 and
(ii) completes at least ten Years of Service, the Initial Retirement Benefit shall be increased by one quarter of one percent (0.25%) (or three percent 3% for each such Year of Service), up to a maximum Initial Retirement Benefit of fifty percent
(50%) of Final Average Earnings (for a maximum additional benefit of up to fifteen percent (15%)). 
  
 (b) Offset Amount: The Offset Amount is the amount of retirement benefits the Eligible Executive is entitled to receive or previously received from
all defined benefit pension plans, including both qualified and nonqualified arrangements, maintained by the Company and all Affiliates, and all other employers, plus the Estimated Primary Social Security Benefit (collectively, “all other
defined benefit pension plans”). For purposes of determining the Offset Amount, the benefits provided by all other defined benefit pension plans shall be converted to an actuarially equivalent single life annuity commencing on the date benefits
under this Plan commence using the actuarial assumptions prescribed in the Applicable Retirement Plan. Notwithstanding the other provisions of this subsection (b), if a Participant commences benefits under this 

  

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Plan before he or she is first eligible to receive Social Security Benefits, the Supplemental Retirement Benefit shall not be reduced by the Estimated
Primary Social Security Benefit until the Participant first becomes eligible to receive Social Security Benefits. 
  
 4.2 Payment of Benefits. A Participant’s Supplemental Retirement Benefit shall be paid at the same time and in the same form as
his or her retirement benefits under the Applicable Retirement Plan. If the required form of payment is other than a single life annuity, the Supplemental Retirement Benefit shall be converted into an actuarially equivalent form using the actuarial
assumptions and other conversion factors prescribed in the Applicable Retirement Plan for converting a single life annuity into the required form of payment. 
  
 4.3 Benefits Unfunded. The benefits payable under the Plan shall be paid solely out of the general assets of the participating
Employer that is the employer of the Participant (or was the most recent employer) at the time benefits first become payable and shall not be otherwise specifically funded in any manner. For this purpose, the Plan Administrator shall maintain
separate books and records for each participating Employer and its respective Employees who are Participants. Nothing herein contained shall preclude the creation of a bookkeeping or other reserve for benefits payable hereunder. 
  
 4.4 ERISA Unwind Provision. Notwithstanding anything to
the contrary contained herein, if a judicial or administrative determination is made or the Plan Administrator has reason to believe that an Employee does not qualify as a Eligible Executive, if required hereunder, the Employee shall cease to be a
Participant under this Plan and the Plan Administrator shall pay to such Employee all benefits due him or her from this Plan, if any, as soon as administratively feasible. 
  
 ARTICLE V 
 ADMINISTRATION 
  
 5.1 Plan
Administration. The Plan shall be administered by the Plan Administrator in accordance with its terms and purposes. The Plan Administrator shall determine the amount and manner of payment of the benefits due to or on behalf of each
Participant from the Plan and shall cause the benefits to be paid in cash by the appropriate participating Employer accordingly. 
  
 5.2 Finality of Decisions. Except as otherwise provided in Section 5.3, the Plan Administrator shall have full discretionary
authority to determine eligibility for benefits and to construe the terms of the Plan, including all questions of fact and law. In addition, the decisions made by and the actions taken by the Plan Administrator in the administration of the Plan
shall be final and conclusive on all persons, and the Plan 

  

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Administrator shall not be subject to any liability whatsoever with respect to the administration of the Plan. 
  
 5.3 Claims Procedures. Any Eligible Employee (such
Eligible Employee being referred to below as a “Claimant”) may deliver to the Plan Administrator a written claim for a determination with respect to the amounts distributable to such Claimant from the Plan. Any such determination by the
Plan Administrator shall be made pursuant to the following procedures, which shall be conducted in a manner designed to comply with Section 503 of ERISA: 
  
 (a) Step 1. Claims for a benefit should be filed by a Claimant as soon as practicable after the Claimant knows or should know that
a dispute has arisen with respect to the benefit, but at least thirty (30) days prior to the Claimant’s actual retirement date or, if applicable, within sixty (60) days after the termination of employment of the Eligible Employee, by mailing a
copy of the claim to the Benefits and Services Department, Raytheon Company, 141 Spring Street, Lexington, Massachusetts 02421. 
  
 (b) Step 2. In the event that a claim is wholly or partially denied by the Plan Administrator, the Plan Administrator shall, within
ninety (90) days following receipt of the claim, so advise the Claimant in writing setting forth: the specific reason or reasons for the denial; specific reference to pertinent Plan provisions on which the denial is based; a description of any
additional material or information necessary for the Claimant to perfect the claim; an explanation as to why such material or information is necessary; and an explanation of the Plan’s claim review procedures. 
  
 (c) Step 3. Within sixty (60) days following receipt
of the denial of a claim for a benefit, a Claimant desiring to have the denial appealed shall file a request for review by an officer of Raytheon Company or a review committee, as designated by Raytheon Company, by mailing a copy thereof to the
address shown in Section 5.3(a); provided, however, that such officer or any member of such review committee, as applicable, may not be the person who made the initial adverse benefit determination nor a subordinate of such person. 
  
 (d) Step 4. Within thirty (30) days following receipt
of a request for review, the designated officer or review committee shall provide the Claimant a further opportunity to present his or her position. At the designated officer or review committee’s discretion, such presentation may be through an
oral or written presentation. Prior to such presentation, the Claimant shall be permitted the opportunity to review pertinent documents and to submit issues and comments in writing. Within a reasonable time following presentation of the
Claimant’s position, which usually should not exceed thirty (30) days, the designated officer or review committee shall inform the Claimant in writing of the decision on review setting forth the reasons for such decision and citing pertinent
provisions in the Plan. 
  

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 ARTICLE VI 
 AMENDMENT AND TERMINATION OF PLAN 
  
 6.1 Amendment and Termination. While Raytheon Company intends to maintain the Plan in conjunction with the Applicable Retirement
Plans for as long as necessary, Raytheon Company reserves the right to amend and/or fully or partially terminate the Plan at any time for whatever reasons it may deem appropriate, provided that no amendment or termination of the Plan shall affect
any participating Employer’s obligation to pay the benefits due to the Participants hereunder but only to the extent of the value of such benefits which have accrued up to the date of the amendment or termination. 
  
 ARTICLE VII 
 MISCELLANEOUS 
  
 7.1 No Enlargement of Employee Rights. Nothing contained in the Plan shall be construed as a contract of employment between any Employer and an Employee or as a right of any Employee to be
continued in the employment of any Employer, or as a limitation of the right of any Employer to discharge any Employee at any time, with or without notice and with or without cause. 
  
 7.2 Assignment. The benefits payable under this Plan may not be assigned, alienated, transferred,
pledged or otherwise encumbered. 
  
 7.3 Governing
Law. To the extent not preempted by ERISA, this Plan shall be governed by the laws of the Commonwealth of Massachusetts. 
  
 Executed in Massachusetts this 5th day of March, 2002. 
  

			
	 RAYTHEON COMPANY

		
	By:	 	

		
	 Title
	 	 

  

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 RAYTHEON COMPANY

  
 Amendment To The 
 Raytheon Supplemental Executive Retirement Plan 
  
 In accordance with the authority vested in the Senior Vice President, Human Resources of Raytheon Company by a Vote of the Board of Directors and
delegated to the Vice President Performance Development and Benefits, to amend the defined benefit and defined contribution plans sponsored by Raytheon Company, the Raytheon Supplemental Executive Retirement Plan (“Plan”) is hereby amended
in the following respects: 
  
 Appendix A is revised, as shown on
the attachment hereto, to include additional Participants; to list employment termination dates of certain Participants; and to specify the special service rules applicable to Plan Participants. 
  
 This amendment shall be effective as of July 1, 2003. 
  

	
	
	

	 Diane D. Avellar

	 Vice President, Performance
 Development and Benefits

  
 Dated at Waltham, 
 Massachusetts 
  
 January 27, 2004 
  

  
 Supplemental Executive
Retirement Plan 
 Appendix A 
  
 List of Designated Executives (Plan Section 2.6) 
  

					
	 Designated
 Executive

	  	 Termination
 Date

	  	 Special Service Rules
 (if
applicable)

	 Daniel P. Burnham
	  	 	  	 
	 Franklyn A. Caine
	  	3/8/05*	  	 
	 Philip W. Cheney
	  	12/31/01	  	 
	 Thomas M. Culligan
	  	 	  	 
	 Robert W. Drewes
	  	3/11/02	  	 
	 Bryan J. Even
	  	 	  	 
	 Richard J. Foley
	  	12/31/03	  	 
	 Louise L. Francesconi
	  	 	  	 
	 Charles E. Franklin
	  	 	  	 
	 John D. Harris II
	  	 	  	 
	 Michael D. Keebaugh
	  	 	  	 
	 Jack R. Kelble
	  	 	  	 
	 Philip T. LePore
	  	8/4/03*	  	 
	 Francis S. Marchilena
	  	9/30/05*	  	 
	 Neal E. Minahan
	  	3/31/03	  	 
	 Keith J. Peden
	  	 	  	 
	 Phyllis J. Piano
	  	 	  	 
	 Edward S. Pliner
	  	 	  	 
	 Rebecca R. Rhoads
	  	 	  	 
	 Donald M. Ronchi
	  	 	  	 
	 Colin Schottlaender
	  	 	  	 
	 James E. Schuster
	  	 	  	 
	 Gregory S. Shelton
	  	 	  	 
	 Daniel L. Smith
	  	 	  	 
	 Jay B. Stephens
	  	 	  	Upon completion of 5 years of service with Raytheon, will receive an additional 5 years of pension credit. In the case of involuntary termination, change-in-control, death or disability, Mr.
Stephens would be viewed as having 10 years of service with Raytheon.
	 William H. Swanson
	  	 	  	 
	 Jon E. Wohler
	  	2/28/03	  	 

  

	*	End of negotiated transition period. Service and benefit credit continues through the transition period.FORM OF EXECUTIVE CHANGE IN CONTROL SEVERANCE AGREEMENT

 Exhibit 10.19 
  
 Raytheon Company 
 Change In Control
Severance Agreement 
  
 Agreement by and between Raytheon
Company, a Delaware corporation (the “Company”), and                      (“Executive”) dated as of
                    , 200  . 
  
 The Board of Directors of Company believes it is in the best interests of the Company and its stockholders to have the continued dedication of Executive
notwithstanding the possibility, threat or occurrence of a Change in Control (as defined in Section 1.5); to diminish the inevitable distraction of Executive due to personal uncertainties and risks created by a threatened or pending Change in
Control; and to provide Executive with compensation and benefits arrangements upon a Change in Control which are competitive with those offered by other corporations. 
  
 Therefore, the Board of Directors has caused the Company to enter into this Agreement, and the Company and Executive agree
as follows: 
  

	1	DEFINITIONS 

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

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

  

	 	(ii)	conviction for a felony; or 

  

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

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

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

  

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

  

 2 

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

  
 However, in no event shall a Change in Control be deemed to have occurred for purposes of this Agreement if Executive is included in a Person that consummates the Change in Control. Executive shall not be deemed to be
included in a Person by reason of ownership of (i) less than 3% of the equity in the Person or (ii) an equity interest in the Person which is otherwise not significant as determined prior to the Change of Control by a majority of the non-employee
continuing directors of the Company. 
  
 1.6 “Code” means the
Internal Revenue Code of 1986, as amended. 
  
 1.7 “Good Reason”
means any of the following acts or omissions by the Company without Executive’s express written consent: 
  

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

  

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

  

	 	(iii)	reducing Executive’s Base Salary; 

  

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

  

 3 

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

  

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

  

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

  

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

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

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

  

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

  

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

  

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

  
 1.9 “Severance Benefits” means: 
  

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

  

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

  

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

  

 4 

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

  

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

  

	 	(vi)	an amount equal to all compensation deferred by Executive together with all interest thereon; 

  

	 	(vii)	an amount equal to the actuarial present value of the aggregate benefits accrued by Executive as of a Qualifying Termination under the Company’s supplemental retirement plan
calculated assuming that Executive’s employment continued for two years following a Qualifying Termination; provided, however, that for purposes of determining Executive’s final average pay under the supplemental retirement plan,
Executive’s actual pay history as of the Qualifying Termination shall be used; and 

  

	 	(viii)	fringe benefits pursuant to all welfare, benefit and retirement plans under which Executive and Executive’s family are eligible to receive benefits or coverage as of a Change
in Control, including but not limited to life insurance, hospitalization, disability, medical, dental, pension and thrift plans. 

  

	2	QUALIFYING TERMINATION 

  
 2.1 Severance Benefits. Following a Qualifying Termination Executive shall be entitled to all Severance Benefits, conditioned upon receipt of a written release by
the Executive of any claims against the Company or its subsidiaries, except those claims arising under this Agreement or any other written plan or agreement, which shall be specifically noted in such release. 
  
 2.2 Payment of Benefits. The Severance Benefits described in Sections 1.9 (i) through
1.9(vii) shall be paid in cash within 30 days of a Qualifying Termination. 
  
 2.3
Duration of Benefits. The Severance Benefits described in Section 1.9(viii) shall be provided to Executive at the same premium cost as in effect immediately prior to the Qualifying Termination. The welfare Severance Benefits described in
Section 1.9(viii) shall be provided following the Qualifying Termination until the earlier of (i) the second 

  

 5 

 
anniversary of the Qualifying Termination or (ii) the date Executive receives substantially equivalent welfare benefits from a subsequent employer.

  

	3	NON-QUALIFYING TERMINATIONS 

  
 3.1 Voluntary; for Cause; Death. Following a Change in Control, if Executive’s employment is terminated (i) voluntarily by Executive without Good Reason, (ii)
involuntarily by the Company for Cause or (iii) due to death, Executive shall be entitled to Base Salary and benefits accrued through the date of termination and Executive’s entitlement to all other benefits shall be determined in accordance
with the Company’s retirement, insurance and other applicable plans, policies, practices and arrangements. Thereafter, the Company shall have no further obligations to Executive hereunder. 
  

	4	NOTICE OF TERMINATION 

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

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

  

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

  

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

  
 4.2 Failure to Give Notice. The failure by Executive or the Company to set forth in
the notice of termination required by Section 4.1 any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of Executive or the Company, respectively, hereunder or preclude Executive or the Company,
respectively, from asserting such fact or circumstance in enforcing Executive’s or the Company’s rights hereunder. 
  

 6 

  

	5	TAX PAYMENTS 

  
 5.1 Excise Tax Payments. (i) Anything in this Agreement to the contrary notwithstanding and except as set forth below, if it is determined that any payment or distribution by the Company to or for the benefit
of Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this Section 5) (a “Payment”) would be
subject to the excise tax imposed by Section 4999 of the Code, or any interest or penalties are incurred by Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively
referred to as the “Excise Tax”), then Executive shall be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after payment by Executive of all taxes (including any interest or penalties
imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment, Executive retains an amount of the Gross-Up Payment
equal to the Excise Tax imposed upon the Payments. Notwithstanding the foregoing provisions of this Subsection 5(i), if it is determined that Executive is entitled to a Gross-Up Payment, but that Executive, after taking into account the Payments and
the Gross-Up Payment, would not receive a net after-tax benefit of at least $50,000 (taking into account both income taxes and any Excise Tax) as compared to the net after-tax proceeds to Executive resulting from an elimination of the Gross-Up
Payment and a reduction of the Payments, in the aggregate, to an amount (the “Reduced Amount”) such that the receipt of Payments would not give rise to any Excise Tax, then no Gross-Up Payment shall be made to Executive and the Payments,
in the aggregate, shall be reduced to the Reduced Amount. 
  
 (ii) Subject to the
provisions of Subsection 5(iii), all determinations required to be made under this Section 5, including whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such
determination, shall be made by PricewaterhouseCoopers or such other certified public accounting firm as may be designated by Executive (the “Accounting Firm”) which shall provide detailed supporting calculations both to the Company and
Executive within 15 business days of the receipt of notice from Executive that there has been a Payment, or such earlier time as is requested by the Company. If the Accounting Firm is serving as accountant or auditor for the individual, entity or
group effecting the Change in Control, Executive shall appoint another nationally recognized accounting firm to make the determinations required hereunder (which accounting firm shall then be referred to as the Accounting Firm hereunder). All fees
and expenses of the Accounting Firm shall be borne solely by the Company. Any Gross-Up Payment, as determined pursuant to this Section 5, shall be paid by the Company to Executive within five days of the receipt of the Accounting Firm’s
determination. Any determination by the Accounting Firm shall be binding upon the Company and Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial 

  

 7 

 
determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments which will not have been made by the Company should have been made
(“Underpayment”), consistent with the calculations required to be made hereunder. If the Company exhausts its remedies pursuant to Subsection 5(iii) and Executive thereafter is required to make a payment of any Excise Tax, the Accounting
Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the Company to or for the benefit of Executive. 
  
 (iii) Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require the
payment by the Company of the Gross-Up Payment. Such notification shall be given as soon as practicable but no later than ten business days after Executive is informed in writing of such claim and shall apprise the Company of the nature of such
claim and the date on which such claim is requested to be paid. Executive shall not pay such claim prior to the expiration of the 30-day period following the date on which it gives such notice to the Company (or such shorter period ending on the
date that any payment of taxes with respect to such claim is due). If the Company notifies Executive in writing prior to the expiration of such period that it desires to contest such claim, Executive shall: 
  

	 	(a)	give the Company any information reasonable requested by the Company relating to such claim, 

  

	 	(b)	take such action in connection with contesting such claim as the Company shall reasonably request in writing from time to time, including, without limitation, accepting legal
representation with respect to such claim by an attorney reasonably selected by the Company, 

  

	 	(c)	cooperate with the Company in good faith in order effectively to contest such claim, and 

  

	 	(d)	permit the Company to participate in any proceedings relating to such claim; 

  

provided, however, that the Company shall bear and pay directly all costs and expenses (including additional interest and penalties) incurred in connection with
such contest and shall indemnify and hold Executive harmless, on an after-tax basis, for any Excise Tax or income tax (including interest and penalties with respect thereto) imposed as a result of such representation and payment of costs and
expenses. Without limitation on the foregoing provisions of this Subsection 5(iii), the Company shall control all proceedings taken in connection with such contest and, at its sole option, may pursue or forgo any and all administrative appeals,
proceedings, hearings and conferences with the taxing authority in respect of such claim and may, at its sole option, either direct Executive to pay the tax claimed and sue for a refund or to contest the claim in any permissible 

  

 8 

 
manner, and Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one
or more appellate courts, as the Company shall determine; provided, however, that if the Company directs Executive to pay such claim and sue for a refund, the Company shall advance the amount of such payment to Executive, on an interest-free
basis, and shall indemnify and hold Executive harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties with respect thereto) imposed with respect to such advance or with respect to any imputed income with
respect to such advance; and further provided that any extension of the statute of limitations relating to payment of taxes for the taxable year of Executive with respect to which such contested amount is claimed to be due is limited solely
to such contested amount. Furthermore, the Company’s control of the contest shall be limited to issues with respect to which a Gross-Up Payment would be payable hereunder, and Executive shall be entitled to settle or contest, as the case may
be, any other issue raised by the Internal Revenue Service or any other taxing authority. 
  
 (iv) If, after the receipt by Executive of an amount advanced by the Company pursuant to Subsection 5(iii), Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to the
Company’s complying with the requirements of Subsection 5(iii) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If after the receipt by Executive of an
amount advanced by the Company pursuant to Subsection 5(iii), a determination is made that Executive shall not be entitled to any refund with respect to such claim and the Company does not notify Executive in writing of its intent to contest such
denial of refund prior to the expiration of 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up
Payment required to be paid. 
  
 5.2 Tax Withholding. The Company may
withhold from any amounts payable under this Agreement such federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
  

	6	EXTENT OF COMPANY’S OBLIGATIONS 

  
 6.1 No Set-Off, Etc. The Company’s obligation to make the payments and perform it obligations hereunder shall not be affected by any set-off, counterclaim,
recoupment, defense or other claim, right or action which the Company may have against Executive or others. All payments by the Company hereunder shall be final, and the Company shall not seek to recover from Executive any part of any payment for
any reason whatsoever. 
  
 6.2 No Mitigation. In no event shall Executive
be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to Executive under 

  

 9 

 
any provision hereof, and such amounts shall not be reduced whether or not Executive obtains other employment except to the extent contemplated by Section
2.3 hereof. 
  
 6.3 Payment of Legal Fees and Costs. The Company agrees to
pay as incurred, to the full extent permitted by law, all legal fees and expenses which Executive may reasonably incur as a result of any contest (regardless of the outcome thereof) by the Company, Executive or others of the validity or
enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by Executive about the amount of payment pursuant to this Agreement), plus in each case interest on
any delayed payment at the applicable federal rate provided for in Section 7872(f)(2)(A) of the Code. 
  
 6.4 Arbitration. Executive shall have the right to have settled by arbitration any dispute or controversy arising in connection herewith. Such arbitration shall be conducted in accordance with the rules of the
American Arbitration Association before a panel of three arbitrators sitting in a location selected by Executive. Judgment may be entered on the award of the arbitrators in any court having proper jurisdiction. All expenses of such arbitration shall
be borne by the Company in accordance with Section 6.3 hereof. 
  

	7	TERM 

  
 7.1 Initial Term. The term of this Agreement shall be two years from the date hereof. 
  
 7.2 Renewal. The terms of this Agreement automatically shall be extended for successive one-year terms unless canceled by the Company by written notice to
Executive not less than six months prior to the end of any term. 
  
 7.3 Effect
of Change in Control. Notwithstanding Sections 7.1 and 7.2 to the contrary, the Company may not cancel this Agreement following a Change in Control. 
  

	8	SUCCESSORS 

  
 8.1 This Agreement is personal to Executive and without the prior written consent of the Company shall not be assignable by Executive otherwise than by will or the laws of descent and distribution. This Agreement
shall be inure to the benefit of and be enforceable by Executive’s legal representatives. Executive may from time to time designate in writing one or more persons or entities as primary and/or contingent beneficiaries of any Severance Benefit
owing to Executive hereunder. 
  
 8.2 This Agreement shall inure to the benefit of
and be binding upon the Company and its successors and assigns. 
  

 10 

 8.3 The Company shall require any successor (whether direct or indirect by purchase, merger, consolidation or otherwise)
to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had
taken place. For purposes hereof, “Company” means the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law or otherwise.

  

	9	MISCELLANEOUS 

  
 9.1 Heading. The headings are not part of the provisions hereof and shall have no force or effect. 
  
 9.2 Notices. All notices and other communications hereunder shall be in writing and shall be given by hand delivery or by registered or certified mail, return
receipt required, postage prepaid, addressed as follows: 
  

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

		
	if to Executive:	  	 

  
 or to such other address as either
party shall have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually received. 
  
 9.3 Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision
hereof. 
  
 9.4 Compliance; Waiver. Executive’s or the Company’s
failure to insist upon strict compliance with any provision hereof or failure to assert any right hereunder, including without limitation the right of Executive to terminate employment for Good Reason pursuant to Section 2.1 hereof, shall not be
deemed to be a waiver of such provision or right or any other provision or right hereof. 
  
 9.5 Employment Status. Executive and Company acknowledge that except as may otherwise be provided under any other written agreement between Executive and the Company, the employment of Executive by the Company
is “at will” and prior to a Change in Control may be terminated at any time by Executive or the Company. 
  

 11 

 Following a Change in Control, the provisions of this Agreement shall supersede any other agreement between the parties
with respect to the subject matter hereof. 
  
 IN WITNESS
WHEREOF, the parties have executed this Agreement as of the date first above written. 
  

									
	Raytheon Company	 	 	 	 
				
	 By:
	 	 	 	 	 	 
	 	 	 Keith J. Peden
	 	 	 	 	 	 Executive

	 	 	 Senior Vice President,
	 	 	 	 	 	 
	 	 	 Human Resources
	 	 	 	 	 	 

  

 12

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