Textron 2017 Proxy Statement

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TEXTRON 2017 PROXY STATEMENT 12
Textron’s Amended and Restated By-Laws contain a provision which imposes certain requirements upon nominations for directors
made by shareholders at the annual meeting of shareholders or a special meeting of shareholders at which directors are to be
elected. Shareholders wishing to nominate an individual for director at the annual meeting must submit timely notice of nomination
within the time limits described below under the heading “Shareholder Proposals and Other Matters for 2018 Annual Meeting” on
page 56, to the committee, c/o Textron’s Secretary, along with the information described in our By-Laws.
The committee annually reviews the Board of Directors’ composition, the appropriate size of the Board, the results of the review of
the Board’s overall performance and the strategy of the Company to determine future requirements for Board members over the
next year or two. All candidates are evaluated against those requirements and the criteria for membership to the Board set forth
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experience aligned with Textron’s strategic direction and operating challenges and that complement the overall composition of the
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time to be fully engaged. The committee must also take into account our By-Laws which provide that no person shall be elected
a director who has attained the age of 75. In addition, the Guidelines and Policies provide that a substantial majority of the
Company’s directors must be independent under the standards of the New York Stock Exchange. All recommendations of
nominees to the Board by the committee are made solely on the basis of merit.
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program and consults with independent board compensation advisors, as appropriate.
The following six independent directors presently comprise the committee: Ms. Bader (Chair), Mr. Conway, Mr. Evans, Mr. Fish,
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ORGANIZATION AND COMPENSATION COMMITTEE
The Organization and Compensation Committee pursuant to its charter, as amended in December 2015, (i) approves
compensation arrangements, including merit salary increases and any annual and long-term incentive compensation, with
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management. A copy of the committee’s charter is posted on Textron’s website, , under “Investors—
Corporate Governance—Committee Charters,” and is also available in print upon request to Textron’s Secretary. See the
Compensation Discussion and Analysis (CD&A), beginning on page 20 for more information on the committee’s processes
and the role of management and consultants in determining the form and amount of executive compensation. The following
eight independent directors presently comprise the committee: Mr. Trotter (Chair), Mr. Fish, Mr. Gagné, Mr. Hancock,
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RISK OVERSIGHT
The Board oversees the Company’s enterprise risk management process. Management reviews the process, including
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occur at an annual dedicated risk management session and as part of the Board’s annual review of the Company’s
strategy. Although the full Board is responsible for this oversight function, the Organization and Compensation Committee,
the Nominating and Corporate Governance Committee and the Audit Committee assist the Board in discharging its
oversight duties.
The Organization and Compensation Committee reviews risks related to the subject matters enumerated in its charter,
including risks associated with the Company’s compensation programs, to provide incentive compensation arrangements