GOODRICH CORP
EXHIBIT 10.50
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<TYPE>EX-10.50
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<FILENAME>g05439exv10w50.htm
<DESCRIPTION>EXHIBIT 10.50
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.50</B>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Compensation Arrangements for the Named Executive Officers</B>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Set forth below is a summary of the compensation paid by Goodrich Corporation (the &#147;Company&#148;) to
its named executive officers (defined in Regulation&nbsp;S-K Item&nbsp;402(a)(3)) in their current positions
as of the date of filing of the Company&#146;s Annual Report on Form 10-K for the year ended December
31, 2006 (the &#147;Form 10-K&#148;). All of the Company&#146;s executive officers are at-will employees whose
compensation and employment status may be changed at any time in the discretion of the Company&#146;s
Board of Directors, subject only to the terms of the Management Continuity Agreements between the
Company and these executive officers, the form of which is filed as Exhibit&nbsp;10.36 to the Form 10-K.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Base Salary. </B>Effective January&nbsp;1, 2007, the named executive officers are to receive the following
annual base salaries in their current positions:
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<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Name and Current Position</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Base Salary ($)</B></TD>
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    <TD><DIV style="margin-left:0px; text-indent:-0px">Marshall O. Larsen<br>
(Chairman, President and Chief Executive Officer)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,030,000</TD>
    <TD>&nbsp;</TD>
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<TR valign="bottom">
    <TD><DIV style="margin-left:0px; text-indent:-0px">Scott E. Kuechle<br>
(Senior Vice President and Chief Financial Officer)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">420,000</TD>
    <TD>&nbsp;</TD>
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    <TD><DIV style="margin-left:0px; text-indent:-0px">John J. Grisik<br>
(Executive Vice President, Operational Excellence and Technology</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">492,000</TD>
    <TD>&nbsp;</TD>
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<TR valign="bottom">
    <TD><DIV style="margin-left:0px; text-indent:-0px">Terrence G. Linnert<br>
(Executive Vice President, Administration and General Counsel)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">487,000</TD>
    <TD>&nbsp;</TD>
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<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:0px; text-indent:-0px">John J. Carmola<br>
(Vice President and Segment President, Actuation &#038; Landing Systems)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">485,000</TD>
    <TD>&nbsp;</TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Annual and Long-Term Incentive Plans. </B>In their current positions, the named executive officers
are eligible to:
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    <TD>Receive an annual cash incentive award pursuant to the Senior
Executive Management Incentive Plan (filed as Exhibits 10.27 and
10.28 to the Form 10-K).</TD>
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    <TD>Participate in the Company&#146;s long-term incentive program, which
currently involves the award of restricted stock units, stock
options and performance units pursuant to the Company&#146;s 2001
Equity Compensation Plan (filed as Exhibits 10.11 and 10.12 to the
Form 10-K).</TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Benefit Plans and Other Arrangements. </B>In their current positions, the named executive officers are
eligible to:
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    <TD>Participate in the Company&#146;s broad-based benefit programs
generally available to its salaried employees, including health,
disability and life insurance programs, qualified 401(k) and
pension plans and a severance plan.</TD>
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    <TD>Participate in non-qualified 401(k) and pension plans (filed as
Exhibits 10.31 and 10.32 to the Form 10-K), a supplemental
executive retirement plan (the form of which is filed as Exhibit
10.30 to the Form 10-K), a management continuity agreement that
takes effect upon a change in control of the Company (the form of
which is filed as Exhibit&nbsp;10.36 to the Form 10-K).</TD>
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    <TD>In the case of Mr.&nbsp;Larsen, Mr.&nbsp;Grisik and Mr.&nbsp;Linnert, receive a
disability benefit agreement (the form of which is filed as
Exhibit&nbsp;10.29 to the Form 10-K).</TD>
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    <TD>Receive certain perquisites offered by the Company, including an
automobile allowance, automobile and umbrella liability insurance,
financial counseling and tax preparation, club memberships, annual
physical examinations for the executive and spouse, cellular
telephone service, long-distance telephone service for the
executive and family, and, in certain cases, home security systems
and use of the Company&#146;s aircraft for personal use. Executives
receive a tax gross-up equal to 100% of the amounts paid by the
Company on their behalf with respect to the automobile allowance,
umbrella liability insurance, financial counseling and tax
preparation, club initiation fees and certain life insurance
programs.</TD>
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