Raytheon Watch

Its Not the Crime in the Streets,
Its the Crime in the Corporate Suites

Chief Executive Daniel Burnham

Earned $23.7 In 1998 For Six Months Work

Raytheon Chief Executive Daniel Burnham, who joined the defense contractor in July and was elevated to his current post on Dec. 1, raked in $23.7 million in salary, bonus and restricted stock awards in 1998, the company said in regulatory filings.

In a proxy filing on Tuesday with the Securities and Exchange Commission, Raytheon said Burnham's package covered salary
of $425,004, a bonus of $1.5 million, and restricted stock awards worth $21.87 million. The stock awards vest over seven
years, beginning July 1.

In addition, Burnham, who left his job as vice chairman at AlliedSignal Inc. in Morristown, N.J., to join
the Lexington, Mass., company, received relocation expenses of $234,271, the company said.

Raytheon said Burnham's huge stock grant was intended to compensate him for ``forfeitures'' he made for leaving AlliedSignal.

``That is predominantly just replacing what he left behind,'' said spokeswoman Toni Simonetti.

Credit Reuters, 3/30/99

Raytheon Watch

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