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 29, 2008 |
Kraton Polymers LLC
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(Exact name of registrant as specified in its charter)
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| Delaware | 333-123747 | 94-2805249 |
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(State or other jurisdiction | _____________
(Commission | ______________
(I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
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| 15710 John F. Kennedy Blvd., Suite 300, Houston, Texas | | 77032 |
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(Address of principal executive offices) | | ___________
(Zip Code) |
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| Registrant’s telephone number, including area code: | | 281-504-4700 |
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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously reported, on January 15, 2008 the Company filed a Current Report Form 8-K, in which the Company announced the departure of Mr. Gregory as the Company's President and Chief Executive Officer.
On January 24, 2008, Kraton Polymers LLC (the "Company") entered into a Separation Agreement with George B. Gregory effective as of February 1, 2008.
The terms of the separation agreement with Mr. Gregory provide, among other things, a payment of 1.5 times his current annual base salary, payment of which shall be in installments through 2008 and completed in January 2009, and continued medical benefits through August 1, 2009. In addition, Mr. Gregory will be entitled to receive his entire special bonus of $600,000. In addition, the Company agreed to repurchase certain of Mr. Gregory's vested equity-based rights. Mr. Gregory will forfeit all unvested options and other equity-based awards unless certain events occur, and will otherwise be subject to customary confidentiality, non-competition, non-solicitation and non-disparagement obligations.
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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| | | Kraton Polymers LLC |
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| January 29, 2008 | | By: | | Richard A. Ott
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| | | | | Name: Richard A. Ott |
| | | | | Title: Vice President, Global Human Resources and Communications |
