Raytheon 2012 Annual Report Download - page 31

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23
drawdown was not valid. To date, the UKBA has submitted claims in the arbitration for damages and clawback of previous
payments of approximately £415 million (approximately $670 million based on foreign exchange rates as of December 31,
2012) excluding any credit for capability delivered or draw on the letters of credit. RSL has submitted in the arbitration its
defenses to the UKBA claim as well as substantial counterclaims in the amount of approximately £500 million (approximately
$808 million based on foreign exchange rates as of December 31, 2012) against the UKBA for the collection of receivables
and damages.
RSL is pursuing vigorously the collection of all receivables for the program and damages in connection with the wrongful
termination, and mounting a strong defense to the UKBA's alleged claims for losses and previous payments. We believe the
remaining receivables and other assets are probable of recovery in litigation or arbitration. We currently do not believe it is
probable that RSL is liable for losses, previous payments (which include the $80 million related to the drawdown on the letters
of credit), clawback or other claims asserted by the UKBA. If we fail to collect the receivable balances or are required to make
payments against claims or other losses asserted by the UKBA in excess of the amounts we have recorded, it could have a
material adverse effect on our financial position, results of operations or liquidity. Arbitration hearings commenced in late
2012 and we expect to have a decision in 2013.
Additional information regarding arbitration with the UKBA is contained in “Commitments and Contingencies” within Item 7
and “Note 11: Commitments and Contingencies” within Item 8 of this Form 10-K.
In addition, various other claims and legal proceedings generally incidental to the normal course of business are pending or
threatened against us. While we cannot predict the outcome of these matters, in the opinion of management, any additional
liability arising from them will not have a material adverse effect on our financial position, results of operations or liquidity.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
EXECUTIVE OFFICERS OF THE REGISTRANT
Our executive officers are listed below. Each executive officer was elected by our Board of Directors to serve for a term of
one year and until his or her successor is elected and qualified or until his or her earlier removal, resignation or death.
Daniel J. Crowley
Mr. Crowley has served as Vice President of Raytheon Company and President of the Network Centric Systems (NCS) business
unit since December 2010. From November 2010 to December 2010, he was President of the NCS business unit. Prior to
joining Raytheon, Mr. Crowley spent 27 years in various management positions of increasing responsibility at Lockheed
Martin Corporation, a global security and information technology company. From June 2010 to November 2010, Mr. Crowley
served as chief operating officer of Lockheed Martin Corporation’s Aeronautics business unit and from May 2005 to June
2010, he served as executive vice president and general manager of the F-35 Joint Strike Fighter program. Age 50.
Thomas M. Culligan
Mr. Culligan has served as Senior Vice President of Business Development since March 2001. From 2000 to March 2001, he
was Vice President and General Manager of Defense and Space at Honeywell International, Inc. (formerly AlliedSignal, Inc.).
From 1994 to 2000, he held various positions at Allied Signal, including Vice President and General Manager, Vice President
- Europe, Africa and Middle East - Marketing, Sales and Service, and President of Government Operations. Prior to joining
Allied Signal, he held executive positions at McDonnell Douglas Corporation. Age 61.
Lynn A. Dugle
Ms. Dugle has served as Vice President of Raytheon Company and President of the Intelligence and Information Systems
(IIS) business unit since January 2009. From June 2008 to December 2008, she was Vice President and Deputy General
Manager of the IIS business unit. From April 2004 to June 2008, she served as Vice President, Engineering, Technology and
Quality for the Network Centric Systems business unit. Prior to rejoining Raytheon in April 2004, Ms. Dugle held a wide
range of officer-level positions with ADC Communications, Inc., a global provider of network infrastructure products and
services. Age 53.