Sale Of Raytheon Aircraft Encouraged Behind The Scenes?
On Aug. 1, Raytheon Company entered into a retention agreement with James E. Schuster, Executive Vice President of the company and CEO of Raytheon Aircraft Company (RAC). The agreement attempts to secure retention of and secures compensation for Schuster in the case that he stays on through the company's then stated goals of seeking "strategic alternatives" for RAC (which includes a potential sale of that business). In short, if Schuster remains with RAC until it is sold and does not leak "confidential" information leading up to that sale, he will receive "a lump sum payment of one times his annual base salary plus annual target bonus." But there's more. According to the arrangement, "Mr. Schuster may also be entitled to receive an additional lump sum payment of two times his annual base salary plus annual target bonus dependent upon the terms of his employment by any successor entity to RAC."