Unassociated Document
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 earliest event reported): October
31, 2008 (October 28, 2008)
Chemtura
Corporation
(Exact
name of registrant as specified in its charter)
Delaware
|
|
1-15339
|
|
52-2183153
|
(State
or other jurisdiction
|
|
(Commission
file number)
|
|
(IRS
employer identification
|
of
incorporation)
|
|
|
|
number)
|
199
Benson Road, Middlebury, Connecticut
|
|
06749
|
(Address
of principal executive offices)
|
|
(Zip
Code)
|
(203)
573-2000
(Registrant’s
telephone number, including area code)
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. below):
o
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
|
|
o
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
|
|
o
|
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
October 28, 2008, the Board of Directors of Chemtura Corporation adopted a
new
compensation schedule for non-employee members of the Board of Directors as
follows:
1.
That,
effective October 1, 2008, the annual retainer fee (including meeting fees)
is
increased to $82,000.
2.
That,
effective October 1, 2008, the additional annual retainer fee for non-employee
directors serving on the following committees in the respective capacities
is
adjusted as follows:
a)
The
chairman of the Environmental Health & Safety Committee remain unchanged at
$8,000
b)
The
chairman of the Audit Committee remain unchanged at $18,000
c)
The
members of the Audit Committee is increased to $7,500
d)
The
chairman of the Finance and Pension Committee is increased $10,000
e)
The
chairman of the Organization, Compensation and Governance Committee is increased
to $12,000.
3.
That
the additional annual fees for each co-lead director remain at
$25,000.
4.
That
the annual stock grant of restricted stock units provided as part of the
compensation schedule for non-employee directors, to be settled upon each
director’s retirement from the Board of Directors, is increased to a value at
grant of $90,000, effective as of the next regularly scheduled
grant.
*
*
*
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.
|
|
|
|
Chemtura
Corporation
|
|
|
(Registrant)
|
|
By:
|
/s/ Lynn
A. Schefsky |
Name:
|
Lynn
A. Schefsky
|
Title:
|
Senior
Vice President, General Counsel and
Secretary
|