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): |
October 22, 2007 |
REGAL-BELOIT CORPORATION
|
| (Exact name of registrant as specified in its charter) |
Wisconsin
|
1-7283
|
39-0875718
|
| (State or other |
(Commission File |
(IRS Employer |
| jurisdiction of |
Number) |
Identification No.) |
| incorporation) |
200 State Street, Beloit, Wisconsin 53511-6254
|
| (Address of principal executive offices, including zip code) |
(608) 364-8800
|
| (Registrant’s telephone number, including area code) |
_________________
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:
| [ ] |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| [ ] |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| [ ] |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
| [ ] |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
| Item 5.02 |
Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers. |
(e) On
October 22, 2007, the Compensation and Human Resources Committee of the Board of Directors of Regal
Beloit Corporation approved amendments to the Regal Beloit Corporation Target
Supplemental Retirement Plan (the “Plan”) to achieve the following:
| • |
change
the age of a participant’s eligibility for early retirement to 58 (with 15 years of
service) from 62 (with 15 years of service); |
| • |
revise
the calculation of benefits under the Plan for participants who retire on or
after January 1, 2008 to include the participant’s target bonus
for the year rather than the participant’s actual bonus for
the year; |
| • |
increase
the death benefits payable to the surviving spouse of a deceased Plan participant to 100%
of the participant’s monthly benefit payment (from 50% of the participant’s
monthly benefit payment); and |
| • |
conform
the terms of the Plan with the requirements of Section 409A of the Internal Revenue Code
of 1986. |
The
description of the amendments to the Plan set forth above is qualified by reference to the
Plan, as amended, as filed herewith as Exhibit 10.1 and incorporated herein by reference.
| Item 9.01. |
Financial
Statements and Exhibits. |
| |
(d) |
Exhibits.
The following exhibit is being filed herewith: |
| |
(10.1) |
Regal
Beloit Corporation Target Supplemental Retirement Plan, as amended. |
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SIGNATURES
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.
|
REGAL-BELOIT CORPORATION |
Date: October 26, 2007 |
By: /s/ Paul J. Jones |
|
Paul J. Jones |
|
Vice President, General Counsel and Secretary |
-2-
REGAL-BELOIT CORPORATION
Exhibit Index to
Current Report on Form 8-K
Dated October 22, 2007
Exhibit
Number
| (10.1) |
Regal
Beloit Corporation Target Supplemental Retirement Plan, as amended. |
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