<SEC-DOCUMENT>0001140361-15-030196.txt : 20150806
<SEC-HEADER>0001140361-15-030196.hdr.sgml : 20150806
<ACCEPTANCE-DATETIME>20150806163008
ACCESSION NUMBER:		0001140361-15-030196
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150804
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150806
DATE AS OF CHANGE:		20150806

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAPITAL SOUTHWEST CORP
		CENTRAL INDEX KEY:			0000017313
		IRS NUMBER:				751072796
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00061
		FILM NUMBER:		151033559

	BUSINESS ADDRESS:	
		STREET 1:		5400 LYNDON B. JOHNSON FREEWAY
		STREET 2:		SUITE 1300
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240
		BUSINESS PHONE:		9722338242

	MAIL ADDRESS:	
		STREET 1:		5400 LYNDON B. JOHNSON FREEWAY
		STREET 2:		SUITE 1300
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240
</SEC-HEADER>
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<DESCRIPTION>CAPITAL SOUTHWEST CORPORATION 8-K 8-4-2015 (PENSION PLAN FREEZE)
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 14pt; FONT-WEIGHT: bold">UNITED STATES</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 14pt; FONT-WEIGHT: bold">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Washington, D.C. 20549</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">FORM 8-K</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CURRENT REPORT</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Pursuant to Section 13 OR 15(d) of the</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Securities Exchange Act of 1934</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Date of Report (Date of earliest event reported)&#160; </div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-SIZE: 24pt">Capital Southwest Corporation</font>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Exact name of registrant as specified in its charter)</div>

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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Texas</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5400 Lyndon B. Johnson Freeway, Suite 1300, Dallas, Texas</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">972-233-8242</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">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:</div>

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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</td>
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<div style="TEXT-ALIGN: justify"><font style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 5.02 </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(e)</font><font style="FONT-SIZE: 5.14pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">On August 4, 2015, the Board of Directors of Capital Southwest Corporation (the "Company") approved an amendment (the &#8220;Amendment&#8221;) to the Retirement Plan for employees of the Company and its Affiliates (the "Retirement Plan"), in which certain named executive officers participate.&#160; The Amendment provides that the Retirement Plan will cease benefit accruals and modify certain ancillary benefits.&#160; The Amendment is effective as of September 30, 2015, provided that the Company&#8217;s previously announced spin-off of CSW Industrials, Inc. occurs on September 30, 2015.&#160; If the proposed spin-off of CSW Industrials, Inc. does not occur on September 30, 2015, the Amendment will be effective as of October 31, 2015.</font></div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The accrued benefits of the named executive officers under the Retirement Plan as of March 31, 2015 are included under the heading &#8220;Pension Benefits&#8221; in the Company&#8217;s proxy statement on Schedule 14A filed with the SEC on June 26, 2015, which information is incorporated into this Item 5.02(e) by reference.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The foregoing description of the Amendment is qualified in its entirety by reference to the text of the Amendment, which is filed as Exhibit 10.1 to this Form 8-K and incorporated into this Item 5.02(e) by reference. </div>

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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Financial Statements and Exhibits.</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The following exhibit is hereby filed as part of this Current Report on Form 8-K:</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Amendment Four to Retirement Plan For Employees of Capital Southwest Corporation and its Affiliates</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SIGNATURES</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 21.6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">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.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Dated: August 6, 2015</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">/s/ Joseph B. Armes</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Title:&#160;&#160; Chairman of the Board</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Chief Executive Officer and President</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exhibit No.&#160; </div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><a href="ex10_1.htm">10.1</a></div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Amendment Four to Retirement Plan For Employees of Capital Southwest Corporation and its Affiliates</div>
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<TYPE>EX-10.1
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<div style="TEXT-ALIGN: right; FONT-WEIGHT: bold">Exhibit 10.1</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>AMENDMENT FOUR TO</u></div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>RETIREMENT PLAN FOR EMPLOYEES OF</u></div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>CAPITAL SOUTHWEST CORPORATION AND ITS AFFILIATES</u></div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>As Amended and Restated Effective April 1, 2011</u></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">WHEREAS, effective as of April 1, 2011, the Retirement Plan for Employees of Capital Southwest Corporation and Its Affiliates (the &#8220;Plan&#8221;) was amended and restated in its entirety;</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">WHEREAS, by the terms of Section 6.4 of the Plan, the Plan may be amended; and</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">WHEREAS, it is necessary to amend the Plan in order to cease benefit accruals and modify certain ancillary benefits as of September 30, 2015 or as of October 31, 2015 in the event the distribution by Capital Southwest Corporation of the outstanding shares of common stock of its wholly owned subsidiary, CSW Industrials, Inc., does not occur on September 30, 2015;</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">NOW, THEREFORE, the Plan is hereby amended, effective as of September 30, 2015 or as of October 31, 2015 in the event the distribution by Capital Southwest Corporation of the outstanding shares of common stock of its wholly owned subsidiary, CSW Industrials, Inc., does not occur on September 30, 2015, to freeze benefit accruals and modify ancillary benefits as follows:</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>APPLICABILITY OF THIS AMENDMENT FOUR</u></div>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The purpose of this Amendment Four is to modify the provisions of the Plan to provide for cessation of benefit accruals of Participants in the Plan as of September 30, 2015 or as of October 31, 2015 in the event the distribution by Capital Southwest Corporation of the outstanding shares of common stock of its wholly owned subsidiary, CSW Industrials, Inc., does not occur on September 30, 2015 (such date is hereinafter referred to as the &#8220;Benefit Accrual Preservation Date&#8221;).</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">All terms of this Amendment Four shall have the meanings assigned to them in the provisions of the Plan unless otherwise qualified by the context.</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The provisions of this Amendment Four shall supersede, modify and limit all provisions of the Plan with which this Amendment Four is in contradiction, but only to the extent necessary to resolve such contradiction. The provisions of the Plan shall be interpreted in such manner as to accomplish the purposes set forth in this Amendment Four.</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><u>CESSATION OF BENEFIT ACCRUALS AS OF THE BENEFIT ACCRUAL PRESERVATION DATE</u></td>
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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Any provisions of the Plan or this Amendment Four to the contrary </font>notwithstanding, there shall be no further accrual of benefits under the Plan or any Supplement thereto after the Benefit Accrual Preservation Date. At all times after the Benefit Accrual Preservation Date, the &#8220;accrued benefit&#8221; of each Participant shall be equal to his &#8220;accrued benefit&#8221; as of the Benefit Accrual Preservation Date.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Accordingly, to accomplish such cessation of accruals:</div>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">For purposes of benefit accruals under Sections 2.1, 2.2, 2.3 and 2.4 of the Plan, Credited Service shall be frozen as of the Benefit Accrual Preservation Date and no further benefits shall be earned after the Benefit Accrual Preservation Date.</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Final Average Monthly Compensation, Compensation, and the Monthly Covered Compensation shall be determined as of the Benefit Accrual Preservation Date for all purposes of the Plan, and shall not change thereafter.</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The Accrued Deferred Monthly Retirement Income Commencing at Normal Retirement Date, as defined in the Plan and any Supplement thereto, shall be calculated as of the Benefit Accrual Preservation Date and shall not increase by reason of employment after that date.</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">All other terms and computations under the Plan and this Amendment Four shall be interpreted and performed in a manner so as to accomplish the foregoing purpose.</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Notwithstanding the foregoing, a Participant&#8217;s service from and after the Benefit Accrual Preservation Date shall be taken into account for purposes of:</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">determining a Participant&#8217;s Vesting Service and Vested Percentage;</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">determining a Participant&#8217;s Credited Service upon return from military service as described in Section 1.3(B), but only if such military absence from the active service with the Employer commenced prior to the Benefit Accrual Preservation Date; and</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">determining a Participant&#8217;s Vesting Service for purposes of determining the Participant&#8217;s eligibility for the early retirement benefit described in Section 2.2 (but not for purposes of determining Credited Service affecting the amount of such benefit).</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><u>MODIFICATION OF DISABILITY BENEFITS AS OF BENEFIT ACCRUAL PRESERVATION DATE</u></td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 108pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 3.6pt">Any provisions of the Plan to the contrary notwithstanding, the disability retirement benefits provided in Section 2.3 of the Plan shall be removed and shall not be payable on behalf of any Participant whose service has terminated on or after the Benefit Accrual Preservation Date by reason of total and permanent disability as defined in Section 2.3(A).</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><u>RIGHT TO AMEND OR TERMINATE AMENDMENT FOUR</u></td>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 72pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 3.6pt">The provisions of Sections 6.4 and 6.5 of the Plan shall apply with equal force to this Amendment Four.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 32.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 39.6pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 3.6pt">IN WITNESS WHEREOF, CAPITAL SOUTHWEST CORPORATION has caused this instrument to be executed by its duly authorized officer on this fourth day of August, 2015.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">CAPITAL SOUTHWEST CORPORATION</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">/s/ Kelly Tacke</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Chief Financial Officer</div>
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