On March 11, 2020, in connection with the previously announced separation (the “Separation”) of United Technologies Corporation (UTC) into three independent, publicly-traded companies, (1) UTC, which will combine with Raytheon in the Merger; (2) Otis Worldwide Corporation (“Otis”) and (3) Carrier Global Corporation (“Carrier”), Messrs. Christopher J. Kearney and Harold W. McGraw III, current directors of UTC, were appointed to serve on the Otis Board of Directors, and Messrs. John V. Faraci and Jean-Pierre Garnier, current directors of UTC, were appointed to serve on the Carrier Board of Directors, in each case effective as of immediately prior to the effective time of, and contingent upon, the applicable Distribution (as defined below). Accordingly, the UTC Board accepted their respective resignations from the UTC Board, in each case effective as of immediately prior to the effective time of, and contingent upon, the applicable Distribution. Mrs. Ellen J. Kullman and Ms. Diane M. Bryant each recently assumed chief executive officer positions at outside companies. As a result of this increase in outside responsibilities, on March 11, 2020, the UTC Board accepted Mrs. Kullman’s and Ms. Bryant’s respective resignations from the UTC Board in each case effective as of immediately prior to the effective time of, and contingent upon, the Merger. Additionally, pursuant to the previously announced Merger Agreement, as amended by Amendment No. 1, UTC and Raytheon agreed that, upon the completion of the Merger, the size of the UTC Board would be increased by two to a total of 15 directors, and, on March 11, 2020, the UTC Board appointed Messrs. Thomas A. Kennedy, George R. Oliver, Dinesh C. Paliwal, James A. Winnefeld, Jr. and Robert O. Work and Mmes. Tracy A. Atkinson and Ellen M. Pawlikowski (collectively, the “New Raytheon Directors”), each of whom is currently a member of the Raytheon Board, to fill the vacancies created by this increase, the departure of the four above-mentioned directors to Otis and Carrier, and the resignations of Mrs. Kullman and Ms. Bryant, in each case effective as of immediately prior to the effective time of, and contingent upon, completion of the Merger. Further, the UTC Board appointed Mr. Ortberg (collectively, with the New Raytheon Directors, the “New Directors”) to fill a vacancy resulting from the above-mentioned resignations and to serve on the UTC Board effective as of immediately prior to the effective time of, and contingent upon, the Merger.