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CAM > SEC Filings for CAM > Form 8-K on 26-Mar-2014All Recent SEC Filings




Change in Directors or Principal Officers

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

On March 26, 2014, Cameron International Corporation ("Cameron") announced that Dennis S. Baldwin has been appointed as Cameron's new Vice President, Controller and Chief Accounting Officer. Mr. Baldwin replaces Christopher A. Krummel who will assist Cameron with its previously announced Compression Systems divestiture activities.

Prior to joining Cameron, Mr. Baldwin was Senior Vice President and Chief Accounting Officer of KBR, Inc. since August 2010, was Vice President and Chief Accounting Officer for three years with Houston-based McDermott International Inc. and has held chief accounting officer positions with Integrated Electrical Services, Inc. and Veritas DGC Inc. Mr. Baldwin is a certified public accountant and holds an M.B.A from the University of Houston and a B.B.A. in Accounting from Sam Houston State University.

Mr. Baldwin will receive an annual base salary of $360,000 and an annual cash bonus under Cameron's Management Incentive Compensation Plan of 50% of his salary based on Cameron's performance. On his first day of employment, Mr. Baldwin will receive equity grants under Cameron's Equity Incentive Plan in a combination of restricted stock units, performance restricted stock units and stock options, with a total grant date value of $750,000. Mr. Baldwin will be eligible to participate in all other compensation and benefit plans available to Cameron executives in similarly situated positions. These compensation and benefit plans are described in Cameron's proxy statement for its 2013 annual meeting of stockholders filed on March 28, 2013 and are included as exhibits to Cameron's annual report on Form 10-K for the year ended December 31, 2013. Mr. Baldwin will also be eligible to enter into with Cameron a Change-in-Control Agreement with a multiplier of one and an Indemnification Agreement in substantially the same forms as the Change-in-Control Agreement and Indemnifications Agreement filed as Exhibits 10.11 and 10.21, respectively, to the 2013 Form 10-K.

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