-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, E4es3L17Ci5xeKQuHMrxGzRxx19OVCZxyBHN6Ee24/U/ELmQHaIglj5eJbRKnBIp 1oYahjqFdCYU29H+BLZYww== 0000950137-07-000377.txt : 20070116 0000950137-07-000377.hdr.sgml : 20070115 20070116172044 ACCESSION NUMBER: 0000950137-07-000377 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070115 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070116 DATE AS OF CHANGE: 20070116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TENNECO INC CENTRAL INDEX KEY: 0001024725 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 760515284 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12387 FILM NUMBER: 07532896 BUSINESS ADDRESS: STREET 1: 500 NORTH FIELD DRIVE CITY: LAKE FOREST STATE: IL ZIP: 60045 BUSINESS PHONE: 847-482-50 MAIL ADDRESS: STREET 1: 500 N FIELD DR STREET 2: ROOM T 2560B CITY: LAKE FOREST STATE: IL ZIP: 60045 FORMER COMPANY: FORMER CONFORMED NAME: TENNECO AUTOMOTIVE INC DATE OF NAME CHANGE: 19991112 FORMER COMPANY: FORMER CONFORMED NAME: NEW TENNECO INC DATE OF NAME CHANGE: 19961011 8-K 1 c11465e8vk.txt CURRENT REPORT 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 15, 2007 TENNECO INC. (Exact Name of Registrant as Specified in Charter) Delaware 1-12387 76-0515284 (State or other jurisdiction of (Commission (I.R.S. Employer of incorporation or organization) File Number) Incorporation Identification No.) 500 NORTH FIELD DRIVE, LAKE FOREST, ILLINOIS 60045 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (847) 482-5000 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 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On January 15, 2007, in connection with Gregg Sherrill's appointment as Chairman and Chief Executive Officer of Tenneco Inc., Mr. Sherrill entered into a non-compete and confidentiality agreement with the company. The agreement prohibits Mr. Sherrill under circumstances described in the agreement from engaging in, being employed by or otherwise advising or acting for any business which is a competitor of the company for a period of one year after the termination of Mr. Sherrill's employment by the company. A copy of the agreement is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS Exhibit No. Description - ----------- ----------- 99.1 Letter Agreement between Tenneco Inc. and Gregg Sherrill. 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. TENNECO INC. Date: January 16, 2007 By: /s/ Timothy R. Donovan ---------------------------- Timothy R. Donovan Executive Vice President and General Counsel EX-99.1 2 c11465exv99w1.txt LETTER AGREEMENT [TENNECO INC. LETTERHEAD] PERSONAL AND CONFIDENTIAL Gregg Sherrill 2010 E. Windsor Place, #E Milwaukee, WI 532021 Dear Gregg:: Per our conversations, Tenneco Inc. (the "Company"), as a condition to your employment as Chairman and Chief Executive Officer of the Company, has requested that you agree as follows: 1. Non-Competition You agree that for a period of one year after the termination of active employment by the Company and its subsidiaries and affiliates, you shall not, except as permitted by the Company's prior written consent, in any capacity in which Confidential Information or Trade Secrets of the Company would reasonably be regarded as useful, engage in, be employed by, or in any way advise or act for any business which is a competitor of the Company or any of its subsidiaries or affiliates with respect to any of the products or services provided by the Company or any of its subsidiaries or affiliates and within the national and international geographic markets served by the Company or any of its subsidiaries or affiliates. This restriction shall also apply to any ownership or other financial interest in such a competitor except the ownership of less than five percent of the shares of any corporation whose shares are listed on a recognized stock exchange or trade in an over-the-counter market. You agree that the scope of this covenant is reasonably necessary for the Company's protection from unfair competition. 2. Confidential Information. (a) You agree to hold in a fiduciary capacity for the benefit of the Company all secret or confidential information, knowledge or data relating to the Company or any of its subsidiaries or affiliates, and their respective businesses, which shall have been obtained by you during your employment by the Company or any of its subsidiaries or affiliates (collectively "Confidential Information") and which shall not be or become public knowledge (other than by your acts or acts of your representatives in violation of this letter agreement). During your employment and for two years after termination of your employment with the Company or any of its subsidiaries or affiliates, you, except as may otherwise be required by law or legal process, shall not use any such Confidential Information except on behalf of the Company and its subsidiaries and affiliates and shall not communicate or divulge any such Confidential Information to anyone other than the Company and those designated by it. Nothing in this paragraph is intended or shall be construed to limit in any way your independent duty not to misappropriate Trade Secrets of the Company. (b) "Trade Secret" means information of the Company or any of its subsidiaries or affiliates, including a formula, pattern, compilation, program, device, method, technique or process, that derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, and that is the subject of efforts by the Company or any of its subsidiaries or affiliates to maintain its secrecy that are reasonable under the circumstances. During your employment with the Company and its subsidiaries and affiliates, you shall preserve and protect Trade Secrets from unauthorized use or disclosure, and after termination of such employment, you shall not use or disclose any Trade Secret until such time as that Trade Secret is no longer a secret as a result of circumstances other than a misappropriation involving you. Please acknowledge your agreement with these terms by executing a copy of this letter in the space provided below and returning it to me. Sincerely, TENNECO INC. By: /s/ Timothy R. Donovan ---------------------- Timothy R. Donovan Its: Executive Vice President and General Counsel ACKNOWLEDGED and ACCEPTED /s/ Gregg Sherrill Date: January 15, 2007 -----END PRIVACY-ENHANCED MESSAGE-----