-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, O4tpS1TmTq76illI2aek1tlKqLaJ+OYvApr5zCxihNTnlJqqy042rLYavhcWW+Ms p3AGlQ5ep0hcReA9y45MHw== 0000950154-94-000027.txt : 19940414 0000950154-94-000027.hdr.sgml : 19940414 ACCESSION NUMBER: 0000950154-94-000027 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19940411 FILER: COMPANY DATA: COMPANY CONFORMED NAME: QUAKER CHEMICAL CORP CENTRAL INDEX KEY: 0000081362 STANDARD INDUSTRIAL CLASSIFICATION: 2990 IRS NUMBER: 230993790 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 000-07154 FILM NUMBER: 94522141 BUSINESS ADDRESS: STREET 1: ELM AND LEE STS CITY: CONSHOHOCKEN STATE: PA ZIP: 19428 BUSINESS PHONE: 2158324000 DEFA14A 1 QUAKER CHEMICAL CORP. -- PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant [X] Filed by a Party other than the Registrant [ ] Check the appropriate box: [ ] Preliminary Proxy Statement [ ] Definitive Proxy Statement [X] Definitive Additional Materials [ ] Soliciting Material Pursuant to Exchange Act Rule 14a-11 or 14a-12. Quaker Chemical Corporation --------------------------------------------------------------------------- (Name of Registrant as Specified In Its Charter) Quaker Chemical Corporation --------------------------------------------------------------------------- (Name of Person(s) Filing Proxy Statement) Payment of Filing Fee (Check the appropriate box): [X] $125 per Exchange Act Rules 0-11(c)(1)(ii), 14a-6(i)(1), or 14a-6(j)(2). Previously paid on March 29, 1994. ---------------------------------- [ ] $500 per each party to the controversy pursuant to Exchange Act Rule 14a-6(i)(3). [ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. 1) Title of each class of securities to which transaction applies: ------------------------------------------------------------------------ 2) Aggregate number of securities to which transaction applies: ------------------------------------------------------------------------ 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11: (Footnote-1) ------------------------------------------------------------------------ 4) Proposed maximum aggregate value of transaction: ------------------------------------------------------------------------ [ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. 1) Amount Previously Paid: ------------------------------------------------------------------------ 2) Form, Schedule or Registration Statement No.: ------------------------------------------------------------------------ 3) Filing Party: ------------------------------------------------------------------------ 4) Date Filed: ------------------------------------------------------------------------ (1) Set forth the amount on which the filing fee is calculated and state how it was determined. QUAKER CHEMICAL CORPORATION Elm and Lee Streets Conshohocken Pennsylvania 19428-0809 USA Karl H. Spaeth Vice President and Corporate Secretary Telephone: 610-832-4112 Facsimile: 610-832-4494 11 April 1994 To Shareholders of Quaker Chemical Corporation This letter refers to our Notice of Annual Meeting of Shareholders and Proxy Statement dated March 31, 1994 (the "Materials"). On page 9 of the Materials there is a chart that bears the caption "LONG-TERM INCENTIVE PLAN -- AWARDS LAST YEAR." Certain information included in the chart relating to Messrs. Peter A. Benoliel and Sigismundus W. W. Lubsen is incorrect. Although we do not regard the errors as material, we have decided to provide you with a revised chart, which is printed on the reverse side of this letter. If you have already returned your Proxy and if, after reviewing the revised chart, you wish to change your vote, you may do so by submitting a new Proxy. A new Proxy may be obtained for this purpose by calling Ms. Kathleen Mague, Assistant Secretary, toll free, or by making this request by facsimile or letter, as follows: By telephone: 1-800-523-7010 Extension 4419 By facsimile: (610) 832-4494 By letter: Quaker Chemical Corporation Elm and Lee Streets Conshohocken, Pennsylvania 19428. Upon receiving your request, we will promptly mail you another Proxy. To be counted, the Proxy must be received prior to the Annual Meeting scheduled for May 4, 1994. Yours very truly, /s/ Karl H. Spaeth QUAKER CHEMICAL CORPORATION PROXY STATEMENT DATED MARCH 31, 1994 REVISION TO CHART ON PAGE 9 LONG-TERM INCENTIVE PLAN -- AWARDS LAST YEAR
ESTIMATED FUTURE PAYOUTS UNDER NON-STOCK PRICE-BASED PLAN ---------------------------------------- (a) (b) (c) (d) (e) (f) PERFORMANCE NUMBER OF OR OTHER SHARES, UNITS PERIOD UNTIL OR OTHER MATURATION OR THRESHOLD TARGET MAXIMUM NAME RIGHTS (#)(1) PAYOUT ($ OR #)(2) ($ OR #)(2) ($ OR #)(2) ---- ------------- ------------- ----------- ----------- ----------- Peter A. Benoliel 15,000 1993 through 1996 $0.00 $320,000 $640,000 Sigismundus W. W. Lubsen 20,000 1993 through 1996 0.00 422,500 845,000 Marcus C. J. Meijer 15,000 1993 through 1996 0.00 315,000 630,000 John E. Burrows, Jr. 12,500 1993 through 1996 0.00 262,500 525,000 Ira R. Dolich 6,000 1993 through 1996 0.00 126,000 252,000
(1) Performance Incentive Units (2) The value on maturation of a performance incentive unit is determined by performance over a four (4) year period as plotted on a grid defined by two axes; one axis sets forth variable rates of return on equity, and one axis sets forth variable rates of income before tax as a percentage of sales. Each performance unit is issued at the value of the stock price of incentive stock options ($21.00, except as to certain options granted to Messrs. Benoliel and Lubsen where the option price is $22.00), and the 1993 performance unit grid results in a zero payout for performance of less than 9% return on equity and less than 7% income before tax as a percentage of sales. A payout of $21.00 per unit (or $22.00 per unit as to certain units granted to Messrs. Benoliel and Lubsen) will be made if performance reaches the target, and a payout of $42.00 per unit (or $44.00 per unit as to certain units granted to Messrs. Benoliel and Lubsen) will be made if performance reaches the maximum of the measurement scale. While it is difficult to calculate the amount of any future payments using an example where a return on equity is 10% and income before tax as a percentage of sales is less than 7%, a minimum payment of $16,000, $21,125, $15,750, and $13,125 would be payable to Messrs. Benoliel, Lubsen, Meijer, and Burrows, respectively. Mr. Dolich retired on December 31, 1993 and will be eligible to receive a 25% pro rata share of the actual future minimum payout, currently estimated to be nil. 9
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