50 TEXTRON 2022 PROXY STATEMENT Scott C. Donnelly Voluntary(1) Disability Death For Cause Not For Cause Change in Control(2) Annual Incentive / Severance $ 0 $ 0 $ 0 $ 0 $ 6,552,000 $ 9,828,000 RSU settled in stock or cash(3) 18,836,337 18,836,337 18,836,337 0 18,836,337 18,836,337 Stock Options(3) 12,678,199 12,678,199 12,678,199 0 12,678,199 12,678,199 Cash settlement of PSUs(3) 18,212,792 9,215,415 9,215,415 0 18,212,792 18,212,792 Pension benefit(4) 0 0 0 0 4,099,980 4,978,521 Other benefits(5) 0 0 0 0 147,289 405,928 Amount Triggered due to Termination $49,727,328 $40,729,951 $40,729,951 $ 0 $ 60,526,597 $ 64,939,777 Frank T. Connor Voluntary(1) Disability Death For Cause Not For Cause Change in Control(2) Annual Incentive / Severance $ 0 $ 0 $ 0 $ 0 $ 2,184,000 $ 2,184,000 RSU settled in stock or cash(3) 5,525,050 5,525,050 5,525,050 0 5,525,050 5,525,050 Stock Options(3) 3,738,311 3,738,311 3,738,311 0 3,738,311 3,738,311 Cash settlement of PSUs(3) 5,370,264 2,717,286 2,717,286 0 5,370,264 5,370,264 Pension benefit 0 0 0 0 0 0 Other benefits(5) 0 0 0 0 0 22,000 Amount Triggered due to Termination $14,633,625 $11,980,647 $11,980,647 $ 0 $ 16,817,625 $ 16,839,625 E. Robert Lupone Voluntary Disability Death For Cause Not For Cause Change in Control(2) Annual Incentive / Severance $ 0 $ 0 $ 0 $ 0 $ 1,542,859 $ 1,542,859 RSU settled in stock or cash(3) 0 2,414,970 2,414,970 0 0 2,414,970 Stock Options(3) 0 1,630,675 1,630,675 0 0 1,630,675 Cash settlement of PSUs(3) 0 1,182,138 1,182,138 0 0 2,348,192 Pension benefit 0 0 0 0 0 0 Other benefits(5) 0 0 0 0 0 6,919 Amount Triggered due to Termination $ 0 $ 5,227,783 $ 5,227,783 $ 0 $ 1,542,859 $ 7,943,615 Julie G. Duffy Voluntary(1) Disability Death For Cause Not For Cause Change in Control(2) Annual Incentive / Severance $ 0 $ 0 $ 0 $ 0 $ 1,153,525 $ 1,153,525 RSU settled in stock or cash(3) 1,602,440 1,602,440 1,602,440 0 1,602,440 1,602,440 Stock Options(3) 1,213,492 1,213,492 1,213,492 0 1,213,492 1,213,492 Cash settlement of PSUs(3) 1,769,810 889,473 889,473 0 1,769,810 1,769,810 Pension benefit 0 0 0 0 0 0 Other benefits(5) 0 0 0 0 0 22,000 Amount Triggered due to Termination $ 4,585,742 $ 3,705,405 $ 3,705,405 $ 0 $ 5,739,267 $ 5,761,267 (1) Mr. Donnelly, Mr. Connor and Ms. Duffy are retirement eligible (age 55 with at least ten years of service to Textron) which entitles them to continued vesting of their unvested RSUs, stock options and PSUs upon a voluntary termination. (2) Amounts reported in the “Change in Control” column are paid only upon a “not for cause” or “good reason” termination in connection with a Change in Control. (3) Amounts reported for RSUs, stock options and PSUs reflect accelerated, prorated and/or continued vesting triggered by termination event under each scenario, respectively. PSU amounts have been calculated assuming that the 2020-2022 PSU cycle will be paid at 100% of target and the 2021–2023 PSU cycle will be paid at 100% of target. (4) Potential pension benefits have been calculated assuming a discount rate of 3.05%. (5) Other benefits (i) for Mr. Donnelly, includes, under the “Not for Cause” scenario, $12,089 in continuation of insurance coverage and $135,200 in additional benefits under retirement plans, and, under the “Change in Control” scenario, $18,134 in continuation of insurance coverage, $202,800 in additional benefits under retirement plans and outplacement assistance valued at $184,994, (ii) for the other NEOs, represents continuation of health benefits.
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