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WY > SEC Filings for WY > Form 8-K on 23-Aug-2013All Recent SEC Filings

Show all filings for WEYERHAEUSER CO



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. On August 19, 2013, Weyerhaeuser Real Estate Company ("WRECO") entered into a retention agreement with Peter M. Orser, WRECO's president. WRECO is the homebuilding and real estate development business of Weyerhaeuser Company ("Weyerhaeuser" or the "Company"). The retention agreement was entered into in connection with the Company's publicly announced plan to explore strategic alternatives for WRECO, including, but not limited to, continuing to hold and operate WRECO, or a merger, sale or spin-off of the business. Under the retention agreement, Mr. Orser will be entitled to receive a one-time retention payment if he satisfies certain requirements, including remaining employed by WRECO through the dates set forth in the retention agreement. If the requisite conditions are satisfied, the amount payable to Mr. Orser under the retention agreement will ensure that he receives his target bonus amount for 2013 under the WRECO Short Term Incentive Plan ("STIP"). If Mr. Orser's STIP is funded and paid at less than his target bonus amount for 2013, his payment under the retention agreement would be equivalent to the difference between the amount actually payable under the STIP for 2013 and his STIP target amount for 2013. If Mr. Orser's STIP is funded and paid at or greater than his target bonus amount for 2013, there would be no additional payment due under the retention agreement. The foregoing summary of the retention agreement with Mr. Orser is qualified in its entirety by the retention agreement filed herewith as Exhibit 10.1.

ITEM 9.01. Financial Statements and Exhibits
(d) Exhibits The following item is filed as an exhibit to this report:
10.1 Retention Agreement with Peter M. Orser

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