International Rectifier 8-K 2007
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 21, 2007
INTERNATIONAL RECTIFIER CORPORATION
(Exact name of registrant as specified in its charter)
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement
On September 21, 2007, the Board of Directors (the Board) of International Rectifier Corporation (the Registrant) approved, upon recommendation from the Compensation Committee of the Board, that Jack O. Vance, the lead independent director of the Registrant, and Chairman of the Audit Committee of the Board which is conducting the previously announced investigation of accounting irregularities, will receive compensation for his services as lead independent director in the amount of $40,000 per calendar quarter, pro-rated for any partial quarter, commencing the date of his selection as lead independent director through December 31, 2007. This additional compensation is temporary and in recognition of the extraordinary efforts required in coordinating the support of Registrants activities in its current circumstances.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.