Kellogg Company 8-K 2006
UNITED STATES 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): December 29, 2006
(Exact name of registrant as specified in its charter)
(Commission File Number)
One Kellogg Square
Battle Creek, Michigan 49016-3599
(Address of principal executive offices, with zip code)
(Registrants telephone number, including area code
(Former name or former address,
if changed since last report)
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:
TABLE OF CONTENTS
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously announced on December 12, 2006, Jeffrey M. Boromisa, the Companys Chief Financial Officer, has been promoted to Senior Vice President, Kellogg Company and Executive Vice President, Kellogg International, President Asia Pacific, effective as of December 31, 2006.
In connection with this change, on December 29, 2006, the Company entered into a retention agreement with Mr. Boromisa pursuant to which (a) his compensation will continue to be based on the benchmarks for his previous position; (b) he was awarded 13,000 restricted shares which cliff vest after three years; (c) if he is terminated by the Company without cause prior to May, 2011 (his retirement date), he would receive his retirement benefits under the Kellogg Company Pension Plan; and (d) he will be subject to non-compete and non-solicit obligations.
The above description of the agreement is qualified in its entirety by reference to the copy of the agreement filed herewith as Exhibit 10.1, and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
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.
Date: December 29, 2006