Stonecipher’s paycheck and benefits end April 1

Published 9:00 pm Friday, March 11, 2005

WASHINGTON – The Boeing Co. has disclosed that Harry Stonecipher, who was forced out as chief executive over an improper relationship with a company executive, didn’t get any long-term incentives this year and will stop receiving employee benefits and perquisites when he retires April 1.

Stonecipher will get a $2.1 million bonus for 2004, but he isn’t eligible for a prorated bonus for 2005, Chicago-based Boeing said in a Securities and Exchange Commission filing.

Boeing said Stonecipher will continue to be paid his $1.5 million yearly salary and will keep accruing pension benefits until April 1.