Summary of CHICAGO BRIDGE & IRON CO N V

Item 8.01. Other Events.
On August 18, 2009, Chicago Bridge & Iron Company N.V. (the "Company") entered into a Sales Agency Agreement (the "Agreement") with Calyon Securities (USA) Inc. ("Calyon"), pursuant to which the Company may issue and sell from time to time, through Calyon as the Company's sales agent, up to 10,000,000 shares of the Company's common stock, par value Euro 0.01 per share (the "Shares").
The Company anticipates that it may issue and sell up to 5 million Shares through the end of 2009. The actual number of Shares sold over that time period is dependent on a number of factors including, among other things, the market price of the Shares, expenditures for general corporate purposes, the Company's need, if any, for financial flexibility and liquidity, and general economic and market conditions.
The Company may issue and sell the Shares until the earlier of (1) the sale of all Shares of our common stock subject to the Agreement, (2) the termination of the Agreement pursuant to its terms or (3) July 29, 2011.
Sales of the Shares, if any, would be made by means of ordinary brokers' transactions or block trades of the New York Stock Exchange at market prices or as otherwise agreed with Calyon. Calyon will receive from the Company a commission equal to 1.85% in connection with each sale of Shares.
The Shares are registered under the Securities Act of 1933, as amended, pursuant to the Company's shelf registration statement (the "Registration Statement") on Form S-3 (File No. 333-160852 ), which became effective upon filing with the Securities and Exchange Commission (the "SEC") on July 29, 2009.
For a more detailed description of the Agreement, see the disclosure under the caption "Plan of Distribution" contained in the Company's prospectus supplement dated August 18, 2009 to the prospectus dated July 28, 2009, which has been filed with the SEC pursuant to Rule 424(b) under the Securities Act, which disclosure is hereby incorporated by reference. The Agreement is also filed with reference to, and is hereby incorporated by reference into, the Registration Statement.
In the ordinary course of their business, Calyon and/or its affiliates have in the past performed, and may continue to perform, investment banking, commercial banking and advisory services for the Company from time to time for which they have received or may receive customary fees and expenses. An affiliate of Caylon is a lender under various lending agreements, including our syndicated revolving credit facility, syndicated term loan and uncommitted lending facilities. This affiliate will receive a portion of the proceeds from the sale of our common stock under the Agreement to the extent such proceeds are used to repay borrowings under these various credit facilities.
The Agreement is filed as Exhibit 99.1 to this Current Report on Form 8-K, and the description of the Agreement is qualified in its entirety by reference to such exhibit.

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