-----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, MBr8DDy8NudfopLEn4UI6EoIVNXNacAQFb6B1Ndhb/tl0+BVjF3DdfyTBgY+LLlu Kmc3gpRFk7tY2+QQX9EOPw== 0000950152-07-008580.txt : 20071105 0000950152-07-008580.hdr.sgml : 20071105 20071105171043 ACCESSION NUMBER: 0000950152-07-008580 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20071031 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20071105 DATE AS OF CHANGE: 20071105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN GREETINGS CORP CENTRAL INDEX KEY: 0000005133 STANDARD INDUSTRIAL CLASSIFICATION: GREETING CARDS [2771] IRS NUMBER: 340065325 STATE OF INCORPORATION: OH FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13859 FILM NUMBER: 071214844 BUSINESS ADDRESS: STREET 1: ONE AMERICAN ROAD CITY: CLEVELAND STATE: OH ZIP: 44144 BUSINESS PHONE: 2162527300 MAIL ADDRESS: STREET 1: ONE AMERICAN ROAD CITY: CLEVELAND STATE: OH ZIP: 44144 8-K 1 l28630ae8vk.htm AMERICAN GREETINGS CORPORATION 8-K American Greetings Corporation 8-K
 

 
 
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 31, 2007
American Greetings Corporation
 
(Exact Name of Registrant as Specified in its Charter)
         
Ohio   1-13859   34-0065325
         
(State or other jurisdiction of
incorporation) 		  (Commission File Number)   (I.R.S. Employer Identification No.)
     
One American Road
Cleveland, Ohio 		  44144
     
(Address of principal executive offices)   (Zip Code)
Registrant’s telephone number, including area code:  (216) 252-7300
 
 
(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:
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))
 
 

 

 

         
Item 5.02
      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
American Greetings Corporation (“American Greetings”) maintains a Supplemental Executive Retirement Plan (the “SERP”) under which it provides retirement benefits to all of its domestic executive officers, including each of its named executive officers. To, among other things, ensure the SERP complies with Section 409A of the Internal Revenue Code as added by the American Jobs Creation Act of 2004, effective October 31, 2007, the SERP was amended and restated to clarify and make more mechanical provisions governing when and to whom payments are to be made, including (1) mandating that payments to participants with a vested benefit must begin on the later of their attaining age 55 and separating from service (previously, participants were required to elect when payment would begin within 30 days of becoming a participant), (2) clarifying the eligible beneficiaries of a participant’s plan benefit, and (3) requiring the lump sum payment of a participant’s benefit if he or she dies before benefits have commenced. In addition, the SERP was amended to authorize American Greetings to make a one-time offer to each participant who is no longer employed by American Greetings but is either currently receiving payments under the SERP or has a deferred vested benefit under the SERP to receive a lump sum cash payment in 2008 in satisfaction of all future benefit payments under the SERP. Only retired officers are eligible to receive a lump sum cash payment; therefore, none of American Greetings’ current executive officers are eligible to receive a payout under this offer. The amendment and restatement to the SERP also incorporated the terms of the First Amendment to the SERP that was adopted effective January 1, 2005.

 

 

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 hereto duly authorized.
         
  American Greetings Corporation
(Registrant)
 		  
  By:   /s/ Catherine M. Kilbane    
    Catherine M. Kilbane, Senior Vice   
    President, General Counsel and Secretary   
 
Date:  November 5, 2007

 

-----END PRIVACY-ENHANCED MESSAGE-----