Boeing Co.’s new chief financial officer, Jesus “Jay” Malave, won’t be allowed to join in discussions initially that involve the company’s second-largest business, one of several unusual clauses in his hiring agreement addressing potential conflicts of interest with a former employer.

Boeing Co said on Monday it had appointed former Lockheed Martin executive Jesus 'Jay' Malave as the planemaker's new CFO, effective Aug. 15.

(Reuters) -Boeing Co said on Thursday that incoming CFO Jesus "Jay" Malave would receive $1.05 million as an annual base salary and he would be eligible for annual and long-term incentive awards with target values of $1.26 million and $6.5 million, respectively.