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Gold star Fridays…

It’s been quite a few weeks since there’s been anything to applaud in SEC filings. But something in General Dynamic’s (GD) new employment agreement with Chairman and CEO Nicholas Chabraja certainly qualifies. While many companies simply hand the keys to the Gulfstream over to the CEO and stock the galley, General Dynamics actually has spelled out an agreement with Chabraja that gives him a specified number of hours per year on the company’s Gulfstream 350. Under the agreement, which was part of Chabraja’s new employment contract, he gets 250 hours of flight time to start and earns an additional 14 hours every month. The company even goes so far in the contract as to spell out that it won’t be providing caviar and 30 year-old Scotch for the CEO and his guests: only basic snack and beverage service. Chabraja, who made $3.6 million last year in salary and bonus, is responsible for all food and beverage service that exceeds the cost of basic snacks.