Scott C. Donnelly Voluntary(1) Disability Death For Cause Not For Cause Change in Control(2) Annual Incentive/Severance $ 0 $ 0 $ 0 $ 0 $ 8,706,000 $13,059,000 RSU settled in stock or cash(3) 13,297,930 13,297,930 13,297,930 0 13,297,930 13,297,930 Stock Options(3) 3,887,917 3,887,917 3,887,917 0 3,887,917 3,887,917 Cash settlement of PSUs(3) 13,671,078 6,647,758 6,647,758 0 13,671,078 13,671,078 Pension benefit(4) 0 0 0 0 8,963,952 10,849,632 Other benefits(5) 0 0 0 0 161,425 437,138 Amount Triggered due to Termination $ 30,856,925 $ 23,833,605 $ 23,833,605 $ 0 $ 48,688,302 $ 55,202,695 Frank T. Connor Voluntary(1) Disability Death For Cause Not For Cause Change in Control(2) Annual Incentive/Severance $ 0 $ 0 $ 0 $ 0 $ 2,714,000 $ 2,714,000 RSU settled in stock or cash(3) 3,903,426 3,903,426 3,903,426 0 3,903,426 3,903,426 Stock Options(3) 1,141,407 1,141,407 1,141,407 0 1,141,407 1,141,407 Cash settlement of PSUs(3) 3,995,829 1,954,823 1,954,823 0 3,995,829 3,995,829 Pension benefit 0 0 0 0 0 0 Other benefits(5) 0 0 0 0 0 23,638 Amount Triggered due to Termination $ 9,040,662 $ 6,999,656 $ 6,999,656 $ 0 $ 11,754,662 $ 11,778,300 E. Robert Lupone Voluntary Disability Death For Cause Not For Cause Change in Control(2) Annual Incentive/Severance $ 0 $ 0 $ 0 $ 0 $ 1,854,667 $ 1,854,667 RSU settled in stock or cash(3) 1,690,107 1,690,107 1,690,107 0 1,690,107 1,690,107 Stock Options(3) 496,581 496,581 496,581 0 496,581 496,581 Cash settlement of PSUs(3) 1,702,250 832,695 832,695 0 1,702,250 1,702,250 Pension benefit 0 0 0 0 0 0 Other benefits(5) 0 0 0 0 0 7,461 Amount Triggered due to Termination $ 3,888,938 $ 3,019,383 $ 3,019,383 $ 0 $ 5,743,605 $ 5,751,066 Julie G. Duffy Voluntary(1) Disability Death For Cause Not For Cause Change in Control(2) Annual Incentive/Severance $ 0 $ 0 $ 0 $ 0 $ 1,419,000 $ 1,419,000 RSU settled in stock or cash(3) 1,269,188 1,269,188 1,269,188 0 1,269,188 1,269,188 Stock Options(3) 377,818 377,818 377,818 0 377,818 377,818 Cash settlement of PSUs(3) 1,300,954 634,889 634,889 0 1,300,954 1,300,954 Pension benefit 0 0 0 0 0 0 Other benefits(5) 0 0 0 0 0 23,638 Amount Triggered due to Termination $ 2,947,960 $ 2,281,895 $ 2,281,895 $ 0 $ 4,366,960 $ 4,390,598 (1) All of the NEOs 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 2022-2024 PSU cycle will be paid at 100% of target and the 2023-2025 PSU cycle will be paid at 100% of target. (4) Potential pension benefits have been calculated assuming a discount rate of 5.25%. (5) Other benefits (i) for Mr. Donnelly, includes, under the “Not for Cause” scenario, $12,975 in continuation of insurance coverage and $148,450 in additional benefits under retirement plans, and, under the “Change in Control” scenario, $19,462 in continuation of insurance coverage, $222,675 in additional benefits under retirement plans and outplacement assistance valued at $195,000, (ii) for the other NEOs, represents continuation of health benefits. TEXTRON 2024 PROXY STATEMENT 49
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