Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Under the terms of a Letter Agreement (the "Agreement") dated December 30, 2008, between CIRCOR International, Inc. (the "Company") and Christopher R. Celtruda, Group Vice President-Circor Aerospace Products, the Company has agreed to reimburse Mr. Celtruda for a portion of certain real estate related losses he has incurred in connection with the Company's relocation of Mr. Celtruda upon his hiring in June 2006. Due to market conditions beyond his control, the value of Mr. Celtruda's residence in Corona, California has diminished approximately 50% since it was purchased by Mr. Celtruda at the time of his relocation. At the same time, market conditions have prevented Mr. Celtruda from successfully selling his family home in Phoenix, Arizona. Under the Agreement, the Company has agreed to purchase Mr. Celtruda's home in Corona, California at its current fair market value and to make payment on Mr. Celtruda's behalf of an additional approximately $488,000 to payoff the outstanding mortgage on the Corona property. The Agreement also provides for the Company to pay such amounts to Mr. Celtruda as are necessary to cover all federal and state income taxes pertinent to this transaction on a grossed-up basis.

Subject to certain exceptions, the Agreement specifies an obligation by Mr. Celtruda to reimburse a portion of the Company's payments in the event that his employment with the Company terminates prior to December 31, 2012 according to a prescribed schedule.

The terms of the Agreement have been approved by the Compensation Committee of the Company's Board of Directors.

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