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): January 20, 2010
Federal Signal Corporation
(Exact name of registrant as specified in its charter)
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| Delaware
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001-6003
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36-1063330 |
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(State or other jurisdiction
of incorporation)
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(Commission File
Number)
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(IRS Employer
Identification No.) |
1415 W. 22nd Street, Oak Brook, Illinois 60523
(Address of principal executive offices) (Zip Code)
(630) 954-2000
(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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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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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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| Item 1.01 |
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Execution of a Material Definitive Agreement |
David McConnaughey’s employment with Federal Signal Corporation (the “Company”) was terminated
effective December 31, 2009. Mr. McConnaughey was the President of the Company’s Safety and
Securities Systems Group. Effective January 20, 2010, the Company entered into an agreement with
Mr. McConnaughey which provides that the Company will pay him $524,800, which approximates his
annual salary plus target annual bonus. The Company will also pay Mr. McConnaughey $196,800, the
amount of his unpaid annual target bonus for 2008. Mr. McConnaughey is also entitled to receive
COBRA coverage at the active employee rate until the earlier of the expiration of eighteen months
or the date he becomes eligible to receive other insurance coverage. The Company has also agreed
to pay up to $17,500 for executive outplacement related services. In exchange for the
consideration provided by the Company, Mr. McConnaughey has executed a release in favor of the
Company that includes non-competition and non-solicitation provisions.