Summary
This 8-K filing from The Boeing Company announces a Consultant Agreement entered into on March 5, 2010, with Scott E. Carson. Mr. Carson, who retired as Executive Vice President, President and Chief Executive Officer of Commercial Airplanes on January 1, 2010, will serve as a consultant for commercial airplane products and services until March 12, 2012. For his consulting services, Mr. Carson is entitled to a retainer fee of $1,533,100, equivalent to his 2009 targeted cash compensation, and reimbursement for reasonable expenses. This agreement ensures continuity and leverages Mr. Carson's expertise during his transition period. Investors should note that Mr. Carson will not receive additional benefits under this agreement but will continue to receive his previously disclosed retirement benefits.
Key Highlights
- 1Boeing entered into a Consultant Agreement with former Executive Vice President, Scott E. Carson, effective March 5, 2010.
- 2Mr. Carson retired from his executive role on January 1, 2010.
- 3The consulting services are for commercial airplane products and services.
- 4The agreement extends for a term until March 12, 2012.
- 5Mr. Carson will receive a retainer fee of $1,533,100, matching his 2009 targeted cash compensation.
- 6Boeing will reimburse Mr. Carson for reasonable expenses incurred during his consulting services.
- 7Mr. Carson will continue to receive previously disclosed retirement benefits, but no new benefits under this agreement.