UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 4, 2008
BLOUNT INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Delaware | | 001-11549 | | 63 0780521 |
(State or other jurisdiction
of Incorporation) | | (Commission File Number) | | (I.R.S. Employer
identification No.) |
4909 SE International Way, Portland, Oregon | | 97222-4679 |
(Address of principal executive offices) | | (Zipcode) |
Registrant’s telephone number, including area code: (503) 653-8881
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-Commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13-e-4(c))
ITEM 5.02 (e) DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS; COMPENSATORY ARRANGEMENTS FOR CERTAIN OFFICERS
On December 31, 2007, Blount International, Inc. (the “Corporation”) and Dennis E. Eagan, President - Industrial and Power Equipment Group and one of the Named Executive Officers in the 2007 Proxy Statement of the Corporation, signed an Amendment to Mr. Eagan’s Employment Agreement whereby, effective January 4, 2008, Mr. Eagan will take retirement and will receive, among certain other benefits, $1,421,754.00 as contractually-required termination payments and $100,000.00 in a discretionary payment for his participation in the sale of the Corporation’s Forestry Division to Caterpillar Inc., which was completed on November 5, 2007. The Forestry Division formerly constituted the major line of business for the Industrial and Power Equipment segment.
The foregoing summary of some of the terms of Mr. Eagan’s amendment is qualified in its entirety by the full text of such amendment, which is filed herewith as Exhibit 10.1, and his previously filed Employment Agreement, which is further described in the Corporation’s 2007 Proxy Statement.
Mr. Eagan joined the Corporation in 2000 as President - Industrial and Power Equipment Group.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
10.1 Amendment to Employment Agreement of Dennis E. Eagan dated December 31, 2007
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SIGNATURE
Pursuant to the requirements of the Securties Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
BLOUNT INTERNATIONAL, INC. |
| Registrant |
|
/s/ Richard H. Irving, III |
Richard H. Irving, III |
Senior Vice President |
General Counsel and |
Secretary |
|
Dated: January 10, 2008 |
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EXHIBIT INDEX
Exhibit No. | | Description of Exhibit |
| | |
10.1 | | Amendment to Employment Agreement of Dennis E. Eagan dated December 31, 2007. |
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