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TYC > SEC Filings for TYC > Form 8-K on 22-Nov-2013All Recent SEC Filings

Show all filings for TYCO INTERNATIONAL LTD

Form 8-K for TYCO INTERNATIONAL LTD


22-Nov-2013

Change in Directors or Principal Officers, Financial Statements and Exhibi


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

(e) Compensatory Arrangements of Certain Officers.
On November 20, 2013, the Compensation and Human Resources Committee (the "Committee") of the Board of Directors of Tyco International Ltd. (the "Company") approved changes to the compensation for George R. Oliver, the Company's Chief Executive Officer. Effective January 1, 2014, Mr. Oliver's annual salary will increase from $975,000 to $1,000,000, and his target annual incentive bonus will increase from 100% of salary to 125%. In addition, the Committee approved an increase in the grant date fair value of Mr. Oliver's annual long-term equity grant from $5 million to $6 million.
The long-term equity award grant for fiscal 2014 for Mr. Oliver and all other eligible participants under the Company's 2012 Stock and Incentive Plan was made on November 20, 2013. For Mr. Oliver, the long-term equity award was split equally between stock options and performance share units. The stock option and performance share units are subject to the standard terms and conditions of the Company's forms of equity award agreements under the Company's 2012 Stock and Incentive Plan.



Item 9.01. Financial Statements and Exhibits.
(c) Exhibits.
    Exhibit
      No.                                   Description
     99.1         Form of terms and conditions for Option Awards and Performance
                  Share Awards under the 2012 Stock and Incentive Plan for fiscal
                  2014 (Incorporated by reference to Exhibit 10.9 to Tyco
                  International Ltd.'s Annual Report on Form 10-K for the year
                  ended September 27, 2013 filed on November 14, 2013).


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