2008 Compensation Arrangements for Named Executive Officers of General Dynamics Corporation
General Dynamics Corporation's Compensation Committee approved the 2008 base salaries and 2007 bonus payments for its top executives, including the CEO, CFO, and other senior officers. The agreement lists the annual base salaries effective March 24, 2008, and confirms the approval of 2007 bonuses as previously disclosed. This arrangement outlines the compensation structure for the company's named executive officers for the specified period.
Exhibit 10.1
2008 Compensation Arrangements for Named Executive Officers
On March 5, 2008, the Compensation Committee of the Board of Directors of General Dynamics Corporation (the company) approved the 2008 base salaries and 2007 bonus payments for the company’s named executive officers. The named executive officers listed in the table below reflect those individuals identified in the company’s 2008 Annual Proxy Statement.
The table below lists the 2008 annual base salary levels effective March 24, 2008.
| Name and Principal Position | 2008 Base Salary | ||
| Nicholas D. Chabraja Chairman of the Board and Chief Executive Officer | $ | 1,400,000 | |
| L. Hugh Redd Senior Vice President and Chief Financial Officer | $ | 650,000 | |
| Gerard J. DeMuro Executive Vice President, Information Systems and Technology | $ | 610,000 | |
| Charles M. Hall Executive Vice President, Combat Systems | $ | 595,000 | |
| David A. Savner Senior Vice President, General Counsel and Secretary | $ | 535,000 | |
Effective March 5, 2008, the Compensation Committee also approved the 2007 bonus payments which were previously disclosed in the company’s current report on Form 8-K, filed with the Commission March 7, 2008.
