L3 TECHNOLOGIES, INC. (NYSE:LLL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
L3 TECHNOLOGIES, INC. (NYSE:LLL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
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Annual Incentive Plan (“AIP”) compensation based on a target bonus opportunity of 130% of base salary (or $1.56 million); and |
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Long-term incentive (“LTI”) compensation having a grant date value of $9.6 million. |
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Mr. Kubasik will also be entitled to receive a one-time grant of LTI awards (the “Promotional Awards”) having a grant date fair value of $4 million, which will be awarded effective December 20, 2017 and will be granted: (1) 70% in the form of stock options; and (2) 30% in the form of restricted stock units. Mr. Kubasik’s Promotional Awards will vest three years after the grant date, but such vesting will automatically accelerate in the event his employment is terminated by the Company without “cause,” or he terminates his employment for “good reason,” in each case, as defined in the Company’s Amended and Restated Change-in-Control Severance Plan. |
Additional information regarding the Company’s executive compensation programs, including information about the AIP and LTI programs, can be found in the Company’s proxy statement for its 2017 Annual Meeting of Stockholders.
Information regarding Mr. Kubasik’s age and prior business experience is described in the Initial Form 8-K, which description is incorporated by reference herein.
The foregoing summary of Mr. Kubasik’s Offer Letter is qualified in its entirety by reference to the full text of the Offer Letter, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
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Financial Statements and Exhibits. |
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Exhibit No. |
Description |
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Offer Letter between Christopher E. Kubasik and the Company, dated October 31, 2017. |
L3 TECHNOLOGIES, INC. ExhibitEX-10.1 2 ex10_1.htm EXHIBIT 10.1 Exhibit 10.1 600 Third Avenue New York,…To view the full exhibit click here
About L3 TECHNOLOGIES, INC. (NYSE:LLL)
L3 Technologies, Inc., formerly L-3 Communications Holdings, Inc., is engaged as a contractor in Intelligence, Surveillance and Reconnaissance (ISR) systems, aircraft sustainment (including modifications, logistics and maintenance), simulation and training, night vision and image intensification equipment, and security and detection systems. The Company operates in three segments: Electronic Systems, Aerospace Systems and Communication Systems. The Company is a provider of communication and electronic systems and products used on military and commercial platforms. Its divisions include Advanced Programs, Aeromet, Army Fleet Support, Brashear, Cincinnati Electronics, Coleman Aerospace, Electron Devices, Henschel, Maritime Systems, Mustang Technology, Narda Satellite Networks and Targa Systems.
