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UNITED STATES |
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Washington, D.C. 20549 |
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FORM 8-K |
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CURRENT REPORT |
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Date of Report (date of earliest event reported): April 28, 2010 |
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LaBARGE, INC. |
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(Exact name of registrant as specified in its charter) |
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DELAWARE |
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(State or other jurisdiction of incorporation) |
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001-05761 |
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73-0574586 |
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(Commission File Number) (IRS Employer Identification No.) |
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9900 Clayton Road, St. Louis, Missouri 63124 |
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(Address of principal executive offices) (Zip Code) |
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(314) 997-0800 |
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Registrant's telephone number, including area code |
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N/A |
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(Former Name or Former Address, if Changed Since Last Report) |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the |
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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. |
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□ Soliciting material pursuant to Rule 14a-12 under the Exchange Act. |
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□ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act. |
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□ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act. |
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 28, 2010, the Board of Directors of LaBarge, Inc. (the “Company”) approved the reinstatement of certain employee benefits that were previously suspended as a result of the Company’s cost savings initiatives in 2009. Effective June 28, 2010, the beginning of the Company’s 2011 fiscal year, all officers will receive a five percent salary increase. This salary increase reverses the five percent salary reduction imposed on all officer salaries in 2009 as part of the Company’s cost savings initiatives. Effective June 28, 2010, the salaries of the named executive officers will be as follows:
Name |
Salary |
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Craig E. LaBarge |
$555,048 |
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Randy L. Buschling |
$375,024 |
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Donald H. Nonnenkamp |
$315,016 |
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John R. Parmley |
$260,000 |
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Teresa K. Huber |
$230,022 |
Item 8.01. Other Events.
In addition to the reversal of the salary reductions discussed in Item 5.02 above, the Company will reinstate its 401(k) matching contribution for all participating
employees, including officers, and participation in the Company’s Employee Stock Purchase Plan.
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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LaBarge, Inc. |
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Date: |
May 4, 2010 |
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Name: |
Donald H. Nonnenkamp |
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Title: |
Vice President and Chief Financial Officer |
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and Secretary |