DE | 34-4323452 | |
(State or other jurisdiction of | (IRS Employer | |
incorporation) | Identification No.) |
[ ] 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))
Information to be included in the report
Prior to assuming his new position, Mr. Ranallo served as Vice President and Acting General Manager of the Owens Corning Construction Services (OCCS) business, after having previously served as Vice President and Controller of OCCS. Prior to that, Mr. Ranallo held a variety of other leadership positions in finance and sourcing at Owens Corning, after joining the Corporation in 1999 from the Eaton Corporation.
Mr. Ranallo will continue to be covered by a pre-existing severance arrangement providing for payment of an amount equal to his base salary plus annual incentive bonus (based on an average of his three previous years' annual incentive payments or one-half of his average participating salary under the annual incentive plan for t he preceding three years, whichever is greater), plus continuation of insurance benefits for up to one year, in the event of his termination other than for permanent total disability or cause.
Owens Corning | ||||||||
Date: March 27, 2006 | By: | /s/ Stephen K. Krull | ||||||
Stephen K. Krull | ||||||||
Senior Vice President, General Counsel and Secretary | ||||||||