<SEC-DOCUMENT>0000031107-16-000054.txt : 20160314
<SEC-HEADER>0000031107-16-000054.hdr.sgml : 20160314
<ACCEPTANCE-DATETIME>20160314172125
ACCESSION NUMBER:		0000031107-16-000054
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160311
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20160314
DATE AS OF CHANGE:		20160314

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EASTERN CO
		CENTRAL INDEX KEY:			0000031107
		STANDARD INDUSTRIAL CLASSIFICATION:	CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420]
		IRS NUMBER:				060330020
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			0102

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35383
		FILM NUMBER:		161504810

	BUSINESS ADDRESS:	
		STREET 1:		112 BRIDGE ST
		STREET 2:		P O BOX 460
		CITY:			NAUGATUCK
		STATE:			CT
		ZIP:			06770
		BUSINESS PHONE:		2037292255

	MAIL ADDRESS:	
		STREET 1:		112 BRIDGE STREET
		STREET 2:		P O BOX 460
		CITY:			NAUGATUCK
		STATE:			CT
		ZIP:			06770
</SEC-HEADER>
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<div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On March 11, 2016, The Compensation Committee (the &#8220;Committee&#8221;) of the Board of Directors of The Eastern Company (the &#8220;Company&#8221;) approved a new &#8220;Long-Term Incentive Plan&#8221; (the &#8220;Long-Term Plan&#8221;) which focuses on improvements in the Company&#8217;s return on invested capital, &#8220;ROIC&#8221;. Under this long-term plan the Named Executive Officers, August M. Vlak, President and Chief Executive Officer, John L. Sullivan III, Vice President and Chief Financial Officer and Angelo M. Labbadia, Vice President and Chief Operating Officer will be awarded cash to purchase equity on the open market.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On March 11, 2016, the Committee also approved the 2016 Executive Incentive Program under the Company&#8217;s Executive Incentive Plan (the &#8220;Plan&#8221;) for the Named Executive Officers, John L. Sullivan III, Vice President and Chief Financial Officer and Angelo M. Labbadia, Vice President and Chief Operating Officer.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The 2016 Executive Incentive Plan is based on Division Earnings (60%), Working Capital (20%) and obtaining Personal Goals (20%). Under the Plan Mr. Sullivan and Mr. Labbadia can earn their incentive up to 100% of their salary, based on achieving those targets.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>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.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date: March 14, 2016&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By: <font style="TEXT-DECORATION: underline">/s/John L. Sullivan III</font></font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">John L. Sullivan III</font></div>

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