form8-k_mip
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):
|
January
29,
2007
|
TRIMBLE
NAVIGATION LIMITED
|
(Exact
name
of registrant as specified in its charter)
|
|
|
|
California
|
0-18645
|
94-2802191
|
(State
or
other jurisdiction
of
incorporation)
|
(Commission
File
Number)
|
(IRS
Employer
Identification
No.)
|
935
Stewart Drive
Sunnyvale,
CA
|
94085
|
(Address
of
principal executive offices)
|
(Zip
Code)
|
|
|
Registrant's
telephone number, including area code:
|
(408)
481-8000
|
|
|
(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 obligations 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
5.02 Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangement of Certain Officers.
On
January 26, 2007, the Compensation Committee of the Board of Directors of
Trimble Navigation Limited (“Trimble”) approved a cash bonus plan for the 2007
fiscal year. Trimble’s CEO, all other executive officers and a number of
other senior-level employees are eligible participants in the plan. Bonuses
to
participants will be based upon the achievement of operating income, with
minimum thresholds for revenue and operating income as a percentage of revenue.
Target payouts range from 10% to 70% of a participant’s base annual salary.
Bonus payments for 2007 could be up to 300% of each participant’s target.
Payments are made on a quarterly basis, 10% of target each quarter and the
remainder after the close of the fiscal year.
ITEM
9.01 Financial
Statements and Exhibits.
Ex.
10.1
Trimble
Navigation
Limited 2007 Management Incentive Plan Description
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, thereto duly
authorized.
|
TRIMBLE
NAVIGATION LIMITED
|
|
|
|
By:
/s/
Irwin
Kwatek
|
|
Name: Irwin
Kwatek
|
|
Title: Vice
President
|
Date:
January
29, 2007
|
|
EXHIBIT
INDEX
Exhibit
Number Description
Exhibit
No. Description
10.1
Trimble
Navigation
Limited 2007 Management Incentive Plan Description