timet8k.htm
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 the earliest event reported)
April
14, 2008
Titanium
Metals Corporation
(Exact
name of registrant as specified in its charter)
Delaware
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1-14368
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13-5630895
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(State
or other jurisdiction of incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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5430
LBJ Freeway, Suite 1700, Dallas, Texas
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75240-2697
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code
(972)
233-1700
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(Former
name or former address, if changed since last report.)
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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 (see General Instruction A.2):
¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
5.02
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers
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Effective
April 14, 2008, Dr. Charles H. Entrekin resigned from his position of President
– Global Operations and Chief Operating Officer to pursue other
interests. Dr. Entrekin’s responsibilities will be assumed by the
Company’s President, Bobby D. O’Brien.
The
Company has entered into a consulting agreement with Dr. Entrekin pursuant to
which he will provide professional consulting services as requested by the
Company for a period of twelve months following his resignation. The
consulting agreement provides, in principal part, for a consulting fee of
$550,000, payable semi-monthly, during the twelve-month term of the agreement
and certain non-competition, non-interference, non-disclosure and proprietary
property obligations of Dr. Entrekin. The consulting agreement
replaces the Company’s employment agreement with Dr. Entrekin.
Effective
April 14, 2008, Christopher Armstrong was appointed Executive Vice President -
Strategic Planning and Business Initiatives of the Company. Mr.
Armstrong has served as a consultant to TIMET on strategic planning and business
development matters since November 2007. From 1998 to 2007 Mr.
Armstrong served as a professional in the Corporate Development and Turnaround
Divisions of PricewaterhouseCoopers and FTI Consulting ultimately holding the
position of Senior Managing Director.
Item
9.01 Financial
Statements and Exhibits.
(d) Exhibits
Item
No. Exhibit
Index
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10.1
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Consulting
Agreement between Dr. Charles H. Entrekin and the registrant, dated April
14, 2008.
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SIGNATURE
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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Titanium
Metals Corporation
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(Registrant)
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By: /s/ Clarence B. Brown III
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Date: April
16, 2008
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Clarence
B. Brown III, Assistant Secretary
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INDEX
TO EXHIBITS
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10.1
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Consulting
Agreement between Dr. Charles H. Entrekin and the registrant, dated April
14, 2008.
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