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BGC > SEC Filings for BGC > Form 8-K on 14-Feb-2014All Recent SEC Filings

Show all filings for GENERAL CABLE CORP /DE/



Change in Directors or Principal Officers, Financial Statements and Exhib

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

On February 10, 2014, the Compensation Committee of the Board of Directors of General Cable Corporation (the "Company") approved new forms of global stock unit agreement and performance stock unit agreement (collectively, the "Agreements") under the Company's 2005 Stock Incentive Plan.

The prior form of stock unit agreement was revised to permit the Company to use the Agreements for awards granted not only to those executives of the Company who reside and work in the United States, but also to the Company's executives residing and employed anywhere else in the world. The Agreements include new provisions that:

address the treatment of awards for purposes of vested rights, termination indemnities (severance pay) and other employment-related risks associated with the grant of awards to award recipients outside of the United States;

provide for various methods to allow the Company to satisfy the tax withholding obligations associated with the awards;

impose obligations on award recipients for complying with their personal legal and tax obligations associated with the receipt of awards and cooperating with the Company in satisfying its legal and tax obligations associated with the awards; and

address specific local law requirements in those countries where the Company grants awards (done via a country-specific "addendum" to the award agreement).

Generally, the Agreements facilitate the ease of administration of the Company's equity compensation programs and provide flexibility to the Company for addressing changing legal, regulatory and tax requirements during the lifetime of the awards and dealing with award recipients who may relocate their employment to one or more other countries during the lifetime of the awards (and thereby subjecting such awards to different legal, regulatory and tax requirements that originally existed at the time the awards originally were granted).

The foregoing summary of the forms of the Agreements is qualified in its entirety by reference to such forms, copies of which are attached hereto as Exhibits 10.1 and 10.2 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits:

Number                                    Description

10.1         Form of Global Stock Unit Agreement for Executives under General Cable
             Corporation 2005 Stock Incentive Plan

10.2         Form of Global Performance Stock Unit Agreement under General Cable
             Corporation 2005 Stock Incentive Plan

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