8-KMaterial AgreementsExhibits & Filings

ENTEGRIS INC 8-K Report, Material Agreement (Aug 31, 2005)

Filed August 31, 2005For Securities:ENTG

Summary

Entegris, Inc. (ENTG) filed an 8-K on August 31, 2005, reporting the entry into material definitive agreements concerning integration execution bonus agreements with key executive officers. These agreements were established on August 25, 2005, for several senior executives, including the COO, CAO, CFO, General Counsel, and Chief Technology Officer. The purpose of these bonuses is to incentivize the successful integration of executive functions following a significant corporate event, likely a merger or acquisition, as referenced in prior filings. The bonus is structured as 30% of an executive's annual base pay, prorated for the period between August 6, 2005, and December 31, 2005. Payment is contingent upon the satisfactory completion of individual integration objectives and will be disbursed within three months thereafter. This filing provides transparency regarding executive compensation tied to post-merger integration success.

Key Highlights

  • 1Entegris entered into Integration Execution Bonus agreements with six key executive officers.
  • 2The agreements are designed to incentivize successful integration following a recent corporate event.
  • 3Bonuses are equal to 30% of each executive's annual base pay, prorated for a specific period.
  • 4The bonus period covers August 6, 2005, through December 31, 2005.
  • 5Payment of the bonuses is conditional on the satisfactory completion of individual integration objectives.
  • 6Bonuses will be paid within three months after the completion of integration objectives.

Frequently Asked Questions

The primary purpose is to provide financial incentives to key executive officers to ensure a smooth and successful integration of operations and functions following a significant corporate event, likely a merger or acquisition, during the specified period.

The agreements cover several senior executive officers, including Jean-Marc Pandraud (EVP & COO), Bertrand Loy (EVP & CAO), John Villas (SVP & CFO, Treasurer), Peter W. Walcott (SVP & General Counsel, Secretary), Gregory Graves (SVP, Strategic Planning and Business Development), and John Goodman (SVP & Chief Technology and Innovation Officer).

The bonus is calculated as thirty percent (30%) of each executive's current annual base pay. This amount is then prorated to cover the five-month period from August 6, 2005, through December 31, 2005.

Payment of the integration execution bonuses will be made within three months following the satisfactory completion of the individual executive's integration execution bonus objectives.