Eaton Corp. PLC (ETN) filed a Form 8K - Changes in Company
Executive Management - with the U.S Securities and Exchange
Commission on July 22, 2014.
On July 22, 2014, the Board of Directors of Eaton Corporation
PLC (the "Company") expanded the size of the Board to thirteen
members and elected Sandra Pianalto to the Board to fill the
vacancy thus created. Ms. Pianalto served as the President and
Chief Executive Officer of the Federal Reserve Bank of Cleveland
from February 2003 until her retirement in May 2014. She was
appointed by the Company's Board of Directors to the Finance and
Compensation and Organization Committees.
Ms. Pianalto will receive compensation pursuant to the Company's
standard arrangements for directors as described in its Proxy
Statement for the 2014 Annual General Meeting of Shareholders.
Each of the Company and its wholly owned subsidiary, Eaton
Corporation ("Eaton"), have entered into Indemnification Agreements
with Ms. Pianalto in the same form as they have used with each
other director and officer of the Company. The form indemnification
agreements provide that, to the fullest extent permitted by law,
the Company and/or Eaton will indemnify each director or officer
against expenses (including attorneys' fees, judgments, fines and
amounts paid in settlement) actually and reasonably incurred by the
director or officer in connection with any claim against the
director or officer as a result of the director's service as a
member of the Board of Directors or the officer's service as an
officer of the Company or Eaton. The summaries of the material
terms of the form indemnification agreements set forth above are
qualified in their entirety by reference to the full text of the
applicable agreements. (See Exhibits 10.1 and 10.2, respectively,
to this Report, which are incorporated herein by reference.) A copy
of the press release issued by the Company on July 22, 2014 is
included as Exhibit 99.1 to this Report and is incorporated herein
by reference.
There are no related party transactions involving Ms. Pianalto
that would require disclosure pursuant to S-K Item 404(a). There
are no arrangements or understandings between Ms. Pianalto and any
other persons pursuant to which she was selected as a director of
the Company.
The full text of this SEC filing can be retrieved at:
http://www.sec.gov/Archives/edgar/data/1551182/000119312514276733/d761074d8k.htm
Any exhibits and associated documents for this SEC filing can be
retrieved at:
http://www.sec.gov/Archives/edgar/data/1551182/000119312514276733/0001193125-14-276733-index.htm
Public companies must file a Form 8-K, or current report, with
the SEC generally within four days of any event that could
materially affect a company's financial position or the value of
its shares.
Subscribe to WSJ: http://online.wsj.com?mod=djnwires