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

(e) (i) Terex Corporation ("Terex" or the "Company") announced that it is implementing a program which will result in the base salaries for its executive officers, including Ronald M. DeFeo its Chairman and Chief Executive Officer and the other named executive officers, being reduced by 10% for the remainder of 2009. This program may include some reductions in work schedule. The salary reductions do not affect other compensation and benefit programs, such as targets for bonus compensation, pension plan calculations and certain other items, which will continue to be based upon the applicable base salary prior to the reduction.

(ii) On March 3, 2009, Terex reported on a Form 8-K that Steve Filipov received a grant of 31,200 shares of time-based restricted stock, a performance-based cash award in the amount of $309,000 that is contingent upon the Company achieving a targeted earnings per share in each of 2009, 2010 and 2011 and a performance-based cash award in the amount of $309,000 that is contingent upon the Company achieving a targeted percentile rank against a peer group of companies for three year annualized total shareholder return for the period January 1, 2009 through December 31, 2011. Mr. Filipov actually received 17,400 shares of time-based restricted stock and both of his performance-based cash awards were in the amount of $171,700.