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REGISTRATION NO.__________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
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BROWN-FORMAN CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 61-0143150
(State of Incorporation) (I.R.S. Employer Identification No.)
850 DIXIE HIGHWAY, LOUISVILLE, KENTUCKY 40210
(Address of Principal Executive Offices and Zip Code)
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BROWN-FORMAN OMNIBUS COMPENSATION PLAN
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MICHAEL B. CRUTCHER
Senior Vice President
General Counsel and Secretary
Brown-Forman Corporation
850 Dixie Highway
Louisville, Kentucky 40210
(502) 585-1100
OGDEN NEWELL & WELCH
Attention: James S. Welch
1700 Citizens Plaza
500 West Jefferson Street
Louisville, Kentucky 40202-2874
(502) 582-1601
(Names, addresses and telephone numbers of agents for service)
Exhibit Index appears on Page II-8
Approximate date of commencement of proposed sale to public:
From time to time following the effectiveness of the Registration Statement.
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CALCULATION OF REGISTRATION FEE
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Title of Securities Amount Proposed Proposed Amount Of
To Be Registered To Be Maximum Maximum Registration
Registered Offering Aggregate Fee
(1)(2) Price Offering
Per Share (3) Price Fee
Class B Common 1,900,000 $61.81 $117,443,750.00 $34,647.75
Stock (non voting)
par value $0.15
per share
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(1) Pursuant to Rule 416(a) of the Securities Act, includes an
indeterminate number of additional shares that may be offered
and issued to prevent dilution resulting from stock splits,
stock dividends or similar transactions.
(2) This Registration Statement registers 1,900,000 shares and
the underlying options. Registration Statement No. 333-77903
(filed May 6, 1999) registered 1,500,000 shares and the
underlying options. This Registration Statement and
Registration Statement No. 333-77903 collectively register
3,400,000 shares and the underlying options.
(3) Estimated solely for purpose of calculating amount of
registration fee which, calculated pursuant to Rule 457(h)(1)
and (2) of the Securities Act, is based on the average of the
high and low prices for shares of Class B Common Stock of
Brown-Forman Corporation on the New York Stock Exchange
consolidated tape on October 6, 1999.
PART I
INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS
ITEM 1. PLAN INFORMATION*
ITEM 2. REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION*
*As allowed by Rule 428(b)(1) under the Securities Act and the Note to Part l
of Form S-8, the information specified in Items 1 and 2 of Form S-8 will be
contained in a document sent or given to plan participants. This information is
not filed as part of this Registration Statement.
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PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE
Brown-Forman Corporation (the "Registrant"), by this reference hereby
incorporate into this Registration Statement the following documents filed by
the Registrant:
(a) Annual Report of the Registrant on Form 10-K for the year ended April
30, 1999, filed on July 21, 1999;
(b) Quarterly Report of the Registrant on Form 10-Q for the fiscal quarter
ended July 31, 1999, filed on September 9, 1999;
(c) The description of the Registrant's Class B Common Stock, $0.15 par
value per share, contained in the Registrant's Registration Statement
on Form 8-A, filed on April 11, 1991, including any amendment or report
filed for the purpose of updating such description.
In addition, all documents filed by the Registrant with the Securities and
Exchange Commission pursuant to Sections 13(a), 13(d), 14 or 15(d) of the
Securities Exchange Act of 1934 after the effective date of this Registration
Statement and prior to the filing of a post-effective amendment which indicates
that all securities offered have been sold or which deregisters all securities
then remaining unsold shall be deemed to be incorporated by reference in this
Registration Statement and shall be deemed to be a part hereof from the date of
filing of such documents.
Any statement contained in a document incorporated or deemed to be incorporated
by reference herein shall be deemed to be modified or superseded for purposes of
this Registration Statement to the extent that a statement contained herein, or
in any other subsequently filed document that also is or is deemed to be
incorporated by reference herein, modifies or supersedes such statement. Any
statement contained in this Registration Statement shall be deemed to be
modified or superseded to the extent that a statement contained in a
subsequently filed document which is or is deemed to be incorporated by
reference herein modifies or supersedes such statement. Any statement so
modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part of this Registration Statement.
ITEM 4. DESCRIPTION OF SECURITIES
Not applicable.
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ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
One of the directors of the Registrant, James S. Welch, is of counsel to and a
former partner in Ogden Newell & Welch, the Louisville, Kentucky law firm
providing the legal opinion upon the validity of the securities being registered
pursuant to this Registration Statement. Mr. Welch has sole or shared voting and
investment power over 6,600 shares of the Class A Common Stock of the
Registrant.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
The Registrant's Restated Certificate of Incorporation limits directors'
liability for monetary damages to the extent permitted by the Delaware General
Corporation Law, and reads as follows:
A director shall not be personally liable to the corporation or its stockholders
for monetary damages for breach of fiduciary duty as a director, except that he
may be liable (i) for any breach of the director's duty of loyalty to the
corporation or its stockholders, (ii) for acts or omissions not in good faith or
which involve intentional misconduct or a knowing violation of law, (iii) under
Section 174 of the Delaware General Corporation Law or (iv) for any transaction
from which the director derived an improper personal benefit.
The provision affects only claims against directors for acts they perform as
directors; it does not apply to acts they perform as officers of the Registrant
or in other capacities.
In addition, the Board of Directors has adopted a resolution which provides that
the Registrant shall indemnify any person who was, is, or is threatened to be
made a party to an action, suit, or proceeding, whether civil, criminal,
administrative, or investigative by reason of the fact that he is a director,
officer, employee, or agent of the Registrant, or is or was serving at the
Registrant's request as a director, officer, employee, or agent of another
entity. Indemnification of a person under this resolution is against expenses
(including attorneys' fees), judgments, fines, and amounts paid in settlement
actually and reasonably incurred by him in connection with such action, suit, or
proceeding if he acted in good faith and in a manner he reasonably believed to
be in or not opposed to the Registrant's best interests (with respect to a
criminal proceeding, the person must have had no reasonable cause to believe his
conduct was unlawful). In any proceeding by or in the right of the Registrant,
no indemnification may be made if the person is found to be liable for
negligence or misconduct in the performance of his duty, and only to the extent
of the Court of Chancery or such other court deems proper.
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An insurance policy insures the Registrant's directors and officers against
certain liabilities, including certain liabilities arising under the Act, which
might be incurred by them in such capacities and against which they cannot be
indemnified by the Registrant.
Insofar as indemnification for liabilities under the Act may be permitted to
directors, officers, and controlling persons of the Registrant pursuant to the
foregoing provisions or otherwise, the Registrant has been advised that in the
opinion of the Securities and Exchange Commission such indemnification is
against public policy as expressed in the Act, and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities (other
than the payment by the Registrant of expenses incurred or paid by a director,
officer, or controlling person of such Registrant in the successful defense of
any action, suit, or proceeding) is asserted against the Registrant by such
director, officer, or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED
Not applicable.
ITEM 8. EXHIBITS
EXHIBIT
NUMBER DESCRIPTION OF DOCUMENTS
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5 Opinion of Counsel, Ogden Newell & Welch, counsel to Registrant
23(a) Consent of PricewaterhouseCoopers LLP, independent accountants
of Registrant
23(b) Consent of Ogden Newell & Welch, counsel to Registrant (included
in Exhibit 5)
24(a) Power of attorney authorizing Steven B. Ratoff, Michael B.
Crutcher or Nelea A. Absher to sign the Registration Statement
in any and all capacities on behalf of Jerry A. Abramson,
Barry D. Bramley, George Garvin Brown III, Owsley Brown II,
Donald G. Calder, Owsley Brown Frazier, Richard P. Mayer,
Stephen E. O'Neil, William M. Street, Dace Brown Stubbs and
James S. Welch
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24(b) Certified resolution of Registrant's Board of Directors authorizing
the execution of Powers of Attorney
99 The Brown-Forman Corporation Omnibus Compensation Plan, as
amended through September 23, 1999
The following items were filed previously:
EXHIBIT
NUMBER DESCRIPTION OF DOCUMENT
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4(h) Restated Certificate of Incorporation of the Registrant,
incorporated by reference to Exhibit 3(i)(b) of Registrant's
10-Q, filed on December 10, 1998
4(i) Certificate of Ownership and Merger of Brown-Forman
Corporation into Brown-Forman, Inc., incorporated by reference
to Registrant's 10-K, filed on July 19, 1994
4(j) Registrant's By-Laws, as amended and restated on May 25, 1988,
incorporated by reference to Registrant's 10-K, filed on July
26, 1993, as further amended and currently in effect,
incorporated by reference to Registrant's Current Report on
Form 8-K, filed June 3, 1998
4(k) Form of Indenture dated as of March 1, 1994, between the
Registrant and The First National Bank of Chicago, as Trustee,
incorporated by reference to Registrant's Form S-3
(Registration No. 33-52551), filed on March 8, 1994
ITEM 9. UNDERTAKINGS
The undersigned Registrant hereby undertakes:
(1) to file, during any period in which offers or sales are being made, a post-
effective amendment to this Registration Statement: (i) to include any
prospectus required by Section 10(a)(3) of the Securities Act of 1933; (ii)
to reflect in the prospectus any facts or events arising after the
effective date of the Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in the
Registration Statement; (iii) to include any material information with
respect to the plan of distribution not previously disclosed in the
Registration Statement or any material change to
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such information in the Registration Statement; PROVIDED, HOWEVER, that (i)
and (ii) do not apply if the Registration Statement is on Form S-3 or Form
S-8 and the information required to be included in a post-effective
amendment by (i) or (ii) is contained in periodic reports filed by the
Registrant pursuant to Section 13 or Section 15(d) of the Securities
Exchange Act of 1934 that are incorporated by reference in the Registration
Statement;
(2) that, for the purpose of determining any liability under the Securities Act
of 1933, each such post-effective amendment shall be deemed to be a new
Registration Statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof;
(3) to remove from registration by means of a post-effective amendment any of
the securities being registered which remain unsold at the termination of
the offering; and
(4) that, for purposes of determining any liability under the Securities Act of
1933, each filing of the Registrant's annual reports pursuant to Section
13(a) or Section 15(d) of the Securities Exchange Act of 1934 that is
incorporated by reference in the Registration Statement shall be deemed to
be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.
(5) Insofar as indemnification for liabilities arising under the Securities Act
of 1933 may be permitted to directors, officers and controlling persons of
the Registrant pursuant to the foregoing provisions, or otherwise, the
Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as
expressed in the Securities Act of 1933 and is, therefore, unenforceable.
If a director, officer or controlling person of the Registrant asserts a
claim for indemnification against such liabilities (other than the payment
by the Registrant of expenses incurred or paid by a director, officer or
controlling person of the Registrant in the successful defense of any
action, suit or proceeding) in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act of 1933 and will
be governed by the final adjudication of such issue.
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SIGNATURES
THE REGISTRANT. Pursuant to the requirements of the Securities Act of 1933, the
Registrant, Brown-Forman Corporation, certifies that it has reasonable grounds
to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Louisville, Commonwealth
of Kentucky, on October 13, 1999.
BROWN-FORMAN CORPORATION
*By: /s/ Owsley Brown II
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Owsley Brown II
Chairman and Chief Executive Officer
Director
Pursuant to the requirements of the Securities Act of 1933, this Registration
Statement has been signed below by the following persons in the capacities and
on the date indicated.
Signature Title
/s/ Steven B. Ratoff Executive Vice President and Chief
- ----------------------------- Financial Officer (Principal Financial
Steven B. Ratoff Officer and Principal Accounting
Officer)
/s/ Jerry A. Abramson
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*Jerry A. Abramson Director
/s/ Barry D. Bramley
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*Barry D. Bramley Director
/s/ George Garvin Brown III
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*George Garvin Brown III Director
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/s/ Owsley Brown II
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*Owsley Brown II Director
/s/ Donald G. Calder
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*Donald G. Calder Director
/s/ Owsley Brown Frazier
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*Owsley Brown Frazier Director
/s/ Richard P. Mayer
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*Richard P. Mayer Director
/s/ Stephen E. O'Neil
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*Stephen E. O'Neil Director
/s/ William M. Street
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*William M. Street Director
/s/ Dace Brown Stubbs
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*Dace Brown Stubbs Director
/s/ James S. Welch
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*James S. Welch Director
*By: /s/ Nelea A. Absher
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Nelea A. Absher
Assistant Vice President
and Assistant Secretary
Attorney-in-Fact For Each
October 12, 1999
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EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
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5 Opinion of Counsel, Ogden Newell & Welch
23(a) Consent of PricewaterhouseCoopers LLP, independent
accountants of Registrant
23(b) Consent of Ogden Newell & Welch, counsel to Registrant
(included in Exhibit 5)
24(a) Power of attorney authorizing Steven B. Ratoff,
Michael B. Crutcher or Nelea A. Absher to sign the
Registration Statement in any and all capacities on
behalf of Jerry E. Abramson, Barry D. Bramley, Geo.
Garvin Brown III, Owsley Brown II, Donald G. Calder,
Owsley Brown Frazier, Richard P. Mayer, Stephen E.
O'Neil, William M. Street, Dace Brown Stubbs and
James S. Welch
24(b) Certified resolution of Registrant's Board of Directors
authorizing the execution of powers of attorney
99 Brown-Forman Corporation Omnibus Compensation Plan, as
amended through September 23, 1999
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