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
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| Date of Report (Date of Earliest Event Reported): | | January 4, 2006 |
Chiquita Brands International, Inc.
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(Exact name of registrant as specified in its charter)
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| New Jersey | 1-1550 | 04-1923360 |
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(State or other jurisdiction | _____________
(Commission | ______________
(I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
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| 250 East Fifth Street, Cincinnati, Ohio | | 45202 |
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(Address of principal executive offices) | | ___________
(Zip Code) |
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| Registrant’s telephone number, including area code: | | 513-784-8000 |
Not Applicable
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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:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
On January 4, 2006 the Compensation Committee of the Board of Directors of Chiquita Brands International, Inc. approved a mortgage subsidy arrangement to assist the relocation of Tanios Viviani, President of the Company’s Fresh Express packaged salad and fresh cut fruit business, from Cincinnati, Ohio to Salinas, California. Effective upon his purchase of a home in the Salinas area, Chiquita will subsidize Mr. Viviani’s mortgage payments for the first five years, by paying a portion of his monthly mortgage payment corresponding to the difference between the actual monthly payment and the monthly payment applicable to a mortgage at a subsidized rate. The subsidies approved are a decrease in the mortgage interest rate of 5, 4, 3, 2, and 1 percentage points in the first, second, third, fourth and fifth years, respectively. The subsidy payments would be discontinued upon termination of Mr. Viviani’s employment with the Company.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | | Chiquita Brands International, Inc. |
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| January 10, 2006 | | By: | | /s/ Robert W. Olson
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| | | | | Name: Robert W. Olson |
| | | | | Title: Senior Vice President, General Counsel & Secretary |
