2018 Proxy Statement

TEXTRON 2018 PROXY STATEMENT 54 7KH %RDUG EHOLHYHV WKDW LW EHQH¿WV IURP WKH NQRZOHGJH DQG LQVLJKW FRQFHUQLQJ WKH &RPSDQ\¶V RSHUDWLRQV LQGXVWU\ DQG ORQJ WHUP strategies that experienced directors bring, and believes that it is inappropriate to limit service by a particular individual on the EDVLV RI WHQXUH DORQH ,QVWHDG WKH EDODQFH RI ORQJHU DQG VKRUWHU WHQXUHV RQ RXU %RDUG FRPELQHV WKH EHQH¿W RI IUHVK RXWORRNV DQG QHZ SHUVSHFWLYHV ZLWK GHHS H[SHULHQFH VSHFL¿F WR RXU &RPSDQ\ DQG LWV YDULRXV EXVLQHVV DFWLYLWLHV With regard to the independence of our directors, the Company’s Corporate Governance Guidelines and Policies require that a substantial majority of our directors meet stringent independence standards which comply with New York Stock Exchange OLVWLQJ VWDQGDUGV 7KH %RDUG DQQXDOO\ UHYLHZV DQG GHWHUPLQHV WKH LQGHSHQGHQFH RI HDFK 'LUHFWRU DQG QR 'LUHFWRU TXDOL¿HV DV ³LQGHSHQGHQW´ XQOHVV WKH %RDUG RI 'LUHFWRUV DI¿UPDWLYHO\ GHWHUPLQHV WKDW WKH 'LUHFWRU KDV QR PDWHULDO UHODWLRQVKLS ZLWK WKH &RPSDQ\ HLWKHU GLUHFWO\ RU DV D SDUWQHU VKDUHKROGHU RU RI¿FHU RI DQ RUJDQL]DWLRQ WKDW KDV D UHODWLRQVKLS ZLWK WKH &RPSDQ\ All of our directors, other than Mr. Donnelly, are independent under these stringent standards. For the foregoing reasons, the Board believes that the arbitrary term limit contemplated by this proposal is unnecessary and FRXQWHUSURGXFWLYH WR RXU %RDUG¶V DSSURDFK WR LGHQWLI\LQJ UHFUXLWLQJ DQG UHWDLQLQJ TXDOL¿HG H[SHULHQFHG DQG HIIHFWLYH GLUHFWRUV who contribute to the diversity of background, skills and experiences represented on the Board and who work hard to support shareholder value. Accordingly, the Board of Directors recommends a vote AGAINST this proposal (Item 5 on the proxy card).