UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 17, 2006 (May 11, 2006)
Bristow Group Inc.
(Exact name of registrant as specified in its charter)
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Delaware
(State or other jurisdiction
of incorporation)
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001-31617
(Commission File Number)
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72-0679819
(IRS Employer
Identification No.) |
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2000 W. Sam Houston |
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Pkwy. S., Suite 1700 |
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Houston, Texas
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77042 |
(Address of principal executive offices)
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(Zip Code) |
Registrants telephone number, including area code: (713) 267-7600
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):
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))
TABLE OF CONTENTS
Item 1.01 Entry into a Material Definitive Agreement.
Compensation of Executive Officers. On May 11, 2006, the Compensation Committee (the
Compensation Committee) of the Board of Directors of Bristow Group Inc. (the Company) approved
the Bristow Group Inc. Fiscal Year 2007 Annual Incentive Compensation Plan in which certain key
employees of the Company including each of the named executive officers as defined in the Companys
Proxy Statement for its fiscal year 2006 annual meeting (the Named Executive Officers), of the
Company are eligible to participate. The plan provides for payment of cash bonuses to participants
following the completion of the fiscal year subject to the attainment of certain performance goals.
Performance Goals include Earnings per Share, Earnings before Interest Taxes and Depreciation
(EBITDA), Return on Capital Employed (ROCE), a safety measure and a portion related to
individual performance, all as defined in the Plan. The following are the participation levels
expressed as a percentage of annual salary for each of the Named Executive Officers:
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Name |
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Target Level |
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Maximum |
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William E. Chiles
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75%
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150% |
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Perry L. Elders
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75%
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150% |
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Richard D. Burman
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50%
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100% |
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Michael R. Suldo
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50%
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100% |
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Bill D. Donaldson
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40%
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80% |
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Mark B. Duncan
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50%
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100% |
The foregoing description of the Plan is qualified in its entirety by the Plan, a copy of which is
attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits
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Exhibit Number |
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Description of Exhibit |
10.1
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Bristow Group Inc. Fiscal Year 2007 Annual Incentive
Compensation Plan |