8-K: Current report filing
Published on January 29, 2007
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
Current
Report
Pursuant
to Section 13 or 15(D) of the
Securities
Exchange Act of 1934
January 23,
2007
(Date
of
earliest event reported)
BALL
CORPORATION
(Exact
name of Registrant as specified in its charter)
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Indiana
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1-7349
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35-0160610
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(State
of
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(Commission
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(IRS
Employer
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Incorporation)
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File
No.)
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Identification
No.)
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10 Longs
Peak Drive, P.O. Box 5000, Broomfield, CO 80021-2510
(Address
of principal executive offices, including ZIP Code)
(303)
469-3131
(Registrant’s
telephone number, including area code)
Not
Applicable
(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 (see General Instruction A.2. below):
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□
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Written
communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
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□
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
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□
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
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□
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
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Ball
Corporation
Current
Report on Form 8-K
Dated
January 29,
2007
Item 5.02. Departure
of Directors or Principal Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers.
On
January 23, 2007, the Board of Directors of Ball Corporation (the
“Company”), acting by and through its Human Resources Committee, amended the
Ball Corporation Supplemental Executive Retirement Plan (the “Plan”) effective
January 1, 2007. One of the amendments provides that Participants with
accrued benefits as of December 31, 2006, may make a one time election in
2007 of the form of payment under which the Participant wishes to receive
a
benefit, generally annual payments or a lump sum payment. Participants accruing
benefits after December 31, 2006, will receive benefits only in the form of
a lump sum payment. Additionally, the Plan was amended to provide that in
determining the lump sum payment the Plan would use the same assumptions
that
exist in the Ball Corporation Pension Plan for Salaried Employees and the
Ball
Corporation Pension Plan as it Applies to Certain Salaried Employees of Ball
Aerospace & Technologies Corp., (“Pension Plans”) except that the interest
rate shall be equal to eighty percent (80%) of the interest rate used to
determine lump sum benefits under those Pension Plans.
On
January 23, 2007, the Board of Directors of the Company, acting by and
through its Human Resources Committee, also amended the Long-Term Incentive
Compensation Plan effective January 1, 2007, to slightly reduce the maximum
target percentage that must be achieved in measuring return on average invested
capital for the future performance cycles.
The
above
plans cover the executive officers and certain key employees of the
Company.
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SIGNATURE
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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 hereunto
duly authorized.
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BALL
CORPORATION
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(Registrant)
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By:
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/s/
Raymond J. Seabrook
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Name:
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Raymond J.
Seabrook
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Title:
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Executive
Vice President and
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Chief
Financial Officer
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Date: January 29,
2007