THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Precision Castparts Corp. (PCP)

7/7/2005 and 7/3/2006 Proxy Information

No related party transactions or special relationships reported for this company. Director relationships marked "Outside Related" at this firm will most often be former executives of the company. Additional information regarding these relationships will be added during our regular updates.

7/7/2004 Proxy Information

Prior to the 2002 Annual Meeting of Shareholders, the Company announced that the Board of Directors had implemented a succession plan to accommodate William McCormick's decision to resign as Chief Executive Officer following the meeting and retire as an employee on September 30, 2002. Under that plan, Mr. McCormick agreed to continue as non-employee Chairman of the Company through the August 2003 Annual Meeting of Shareholders and remain available through September 30, 2003 to provide consulting services to the Company. Following the 2003 Annual Meeting of Shareholders, the Board of Directors appointed Mr. Donegan as Chairman and the Company and Mr. McCormick entered into a Consulting Agreement (the "Consulting Agreement") under which Mr. McCormick agreed to provide consulting services to the Company when and as requested by the Chief Executive Officer. Under the Consulting Agreement, Mr. McCormick is entitled to compensation at a rate of $200,000 per year and certain additional benefits, including an office and office support while he is a consultant and health benefit coverage for himself and his family while the Agreement is in effect. The Agreement expires on September 30, 2004 unless terminated earlier by either of the parties. The foregoing benefits supplement the standard retirement benefits to which Mr. McCormick is entitled under the Company's retirement and deferred compensation programs. Mr. McCormick resigned from the Board of Directors effective April 15, 2004.

7/7/2003 Proxy Information

Prior to last year's Annual Meeting of Shareholders, the Company announced that the Board of Directors had implemented a succession plan to accommodate William McCormick's decision to resign as Chief Executive Officer following the meeting and retire as an employee on September 30, 2002. Under this plan, Mr. McCormick agreed to continue as non-employee Chairman of the Company through the August 2003 Annual Meeting of Shareholders and remain available through September 30, 2003 to provide consulting services to the Company.

In connection with Mr. McCormick's retirement, the Company and Mr. McCormick entered into a Retention and Post-Retirement Consulting Agreement (the "Consulting Agreement") under which Mr. McCormick agreed to provide consulting services to the Company when and as requested by the Chief Executive Officer, such services to include advice and assistance in evaluating potential strategic and/or financial transactions, assistance in negotiations relating to such transactions and strategic planning and representation of the Company in various external activities and events for the benefit of the Company. Under the Consulting Agreement, Mr. McCormick is entitled to compensation at a rate of $400,000 per year and certain additional benefits, including an office and office support while he is a consultant, reimbursement for financial and income tax preparation expenses and health benefit coverage for himself and his family through September 30, 2003. The foregoing benefits supplement the standard retirement benefits to which Mr. McCormick is entitled under the Company's retirement and deferred compensation programs. In connection with the execution of the Consulting Agreement, the Company agreed to a modification of the terms of stock options previously granted to Mr. McCormick by the Company so that the vesting of such options was accelerated and the options are exercisable for their full term.

The Consulting Agreement provides that Mr. McCormick will not provide any consulting, advice or service of any kind during the consulting period to any other company that competes with the Company and before providing any such services during the two-year period following the consulting period Mr. McCormick will first obtain the approval of the Company's Chief Executive Officer.

For his services as Chairman of the Company's Board of Directors following his retirement as an employee, Mr. McCormick receives director's fees on the same terms available to other non-employee directors.