Defense contractor L3Harris removed chairman and chief executive Chris Kubasik, 65, over the weekend after a board investigation found that he had violated the company’s code of conduct.

The $50 billion aerospace-and-tech company did not disclose what Kubasik did, but said the violation did not involve financial reporting, controls, customer relationships, or operations. Kubasik, who has served as CEO since 2021, resigned from the L3Harris board and from the boards of all subsidiaries and affiliates.

The abrupt departure comes 14 years after Kubasik was fired from another major defense contractor following an ethics investigation that determined he had a relationship with a subordinate employee.

Under the separation agreement reached Sunday, Kubasik will receive no severance or bonus. As part of the deal, he forfeited all outstanding equity awards, including two option grants and other awards that could have paid him $45 million in cash and equity.

Kubasik will still retain some options that could yield stock worth about $23 million, along with more than 200,000 shares of L3Harris stock he already owns, valued at nearly $57 million. L3Harris has paid Kubasik compensation valued at $66.3 million over the past three years, including $25.6 million in fiscal 2025.

During his tenure, L3Harris maintained close ties with the Trump administration’s Department of War. In April, L3Harris subsidiary Aerojet Rocketdyne reached a deal for a $1 billion government investment in the missile-propulsion business L3Harris plans to take public. In June, L3Harris also delivered a 747 to the White House to serve as an interim Air Force One after modifying the gifted jet from Qatar’s royal family.

According to the separation disclosure, the board opted to negotiate Kubasik’s exit rather than attempt to terminate him for cause. Kubasik did not admit to any violation of the company’s code of conduct, and the agreement expressly bars the parties and their representatives from making public statements that are “inconsistent” with Monday’s disclosure.

The board named Sam Mehta, 53, as Kubasik’s immediate replacement. Mehta had been leading L3Harris’ space and mission systems and communications and spectrum dominance segments, putting operational continuity in place as the company moves through a leadership change tied to conduct concerns rather than performance issues. Lewis Hay II, formerly the board’s lead independent director, will become independent chairman.

L3Harris shares fell more than 4% on Monday after the CEO transition. The company reaffirmed its full-year 2026 guidance for revenue, growth, operating margin, and other metrics.

“Chris has overseen significant transformation during his tenure at L3Harris, and he has built a strong team to carry the business forward,” Hay said in a statement. “However, our values guide the actions we take each day as The Trusted Disruptor and are at the center of everything we do. The Board and Chris have agreed that implementing our succession plan today is the right thing to do. We thank him for his service.”

Kubasik’s removal comes 14 years after he was forced to leave Lockheed Martin following an ethics investigation there that confirmed a “close personal relationship” between Kubasik and a subordinate employee. At the time, Kubasik was serving as vice chairman, president, and chief operating officer, and had been named to succeed as CEO in 2013. Weeks before he was scheduled to take over, he resigned. Marillyn Hewson replaced him and later moved into the executive chairman role in 2020.

Lockheed paid Kubasik $3.5 million as part of a separation agreement when he left, but L3Harris took a more stringent approach, even as Kubasik still walks away with significant wealth.

Under the terms of his deal with L3Harris, Kubasik forfeited his 2026 bonus and was not eligible for $9.3 million in cash severance or separation payments. He also gave up unvested restricted stock and performance shares, as well as $7.6 million in options, meaning he leaves at least $45 million on the table. That amount could have reached $62 million if L3Harris had paid out at the maximum for performance over the next two award cycles.

The board also retains the right to claw back his options if undisclosed misconduct, including fraud, sexual assault, embezzlement, quid pro quo sexual harassment, securities violations, or material regulatory violations, is later established by a court ruling.

L3Harris did not respond to requests for comment. Attempts to reach Kubasik were unsuccessful.

This story was originally featured on Fortune.com