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BG > SEC Filings for BG > Form 8-K/A on 26-Jun-2009All Recent SEC Filings

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Form 8-K/A for BUNGE LTD


26-Jun-2009

Change in Directors or Principal Officers, Financial Statements and Exhibits


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

This Current Report on Form 8-K/A amends the Current Report on Form 8-K, filed by Bunge Limited ("Bunge") on May 21, 2009, that reported that Joćo Fernando Kfouri would be retiring as Managing Director, Food and Ingredients effective June 30, 2009.

On June 22, 2009, Bunge entered into a Consulting Agreement with Mr. Kfouri. The term of the Consulting Agreement will begin on July 1, 2009 and will end on December 31, 2009 (the "Term"). Pursuant to the Consulting Agreement, Mr. Kfouri will provide advice and counsel from time to time with respect to Bunge's global Food and Ingredients business strategy and the transition of the duties and responsibilities of the position of Managing Director, Food and Ingredients to a successor. In exchange for these services, during the Term, Bunge will pay Mr. Kfouri a consulting fee at the rate of $22,500 per month. Mr. Kfouri will also be subject to a perpetual confidentiality covenant and a nonsolicitation of employees and customers covenant for the Term and during the 12-month period following the end of the Term.

Additionally, in connection with Mr. Kfouri's retirement, and in recognition of his contributions to Bunge during 2009 through his retirement date, Mr. Kfouri will receive a cash payment of $250,000 in lieu of any amounts that he may have been eligible to receive pursuant to Bunge's Annual Incentive Plan.

The above summary of the Consulting Agreement does not purport to be complete and is qualified in its entirety by reference to the Consulting Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K/A and incorporated into this Item 5.02 by reference.



ITEM 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.              Description

10.1                     Consulting Agreement by and between Bunge Limited and
                         Joćo Fernando Kfouri, effective as of
                         July 1, 2009.


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