J. C. Penney Form 8-K
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
_________
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
THE
SECURITIES EXCHANGE ACT OF 1934
Date
of
Report (Date of earliest event reported): November 16, 2006
J.
C. PENNEY COMPANY, INC.
(Exact
name of registrant as specified in its charter)
|
Delaware
(State
or other jurisdiction
of
incorporation )
|
1-15274
(Commission
File No.)
|
26-0037077
(I.R.S.
Employer Identification No.)
|
|
6501
Legacy Drive
Plano,
Texas
(Address
of principal executive offices)
|
75024-3698
(Zip
code)
|
Registrant's
telephone number, including area code: (972)
431-1000
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
5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain
Officers.
The
J. C. Penney Corporation, Inc. Mirror Savings Plans I, II, and III (“Mirror
Plans”) provide associates earning more than the Internal Revenue Service limit
on participant contributions to qualified savings plans the opportunity to
defer
a portion of their base salary and incentive compensation in excess of such
limit as a means of saving for retirement.
On
November 16, 2006, the Human Resources and Compensation Committee of the
Board
of Directors of J. C. Penney Company, Inc. (“HRCC”) met to consider certain
actions in relation to the Mirror Plans. The HRCC approved (1) an amendment
to
Section 3.04 of J. C. Penney Corporation, Inc. Mirror Plans I and II
amending the formula for the Company matching contribution, effective for
the
2006 Plan Year, as set forth in Exhibit 10.1 attached hereto, (2) a resolution
providing that no additional participants or additional participant deferrals
be
added to Mirror Savings Plans I and III after December 31, 2006, and (3)
an
Amended and Restated J. C. Penney Corporation, Inc. Mirror Savings Plan,
effective January 1, 2007, as set forth in Exhibit 10.2 attached hereto,
which
amends the Mirror Savings Plan to conform with changes to be made to the
Company’s qualified savings plan, the J. C. Penney Corporation, Inc. Savings,
Profit-Sharing and Stock Ownership Plan, and which amends the formula for
the
Mirror Savings Plan Company matching contribution.
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.
J.
C.
PENNEY COMPANY, INC.
By:
/s/ Michael T. Theilmann
Michael T. Theilmann
Executive
Vice
President,
Chief
Human
Resources and
Administration
Officer
Date:
November 21, 2006
EXHIBIT
INDEX
Exhibit
Number Description
| |
10.1
|
Amendment
to the J. C. Penney Corporation, Inc. Mirror Savings
Plans I and II
|
| |
10.2
|
J.
C. Penney Corporation, Inc. Mirror Savings Plan, Amended and Restated
Effective January 1, 2007
|