SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
January 25, 2011
(Exact name of Registrant as specified in its charter)
120 S. Central Avenue, Suite 1700
Clayton, Missouri 63105
(Address of principal executive offices) (Zip Code)
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):
On January 20, 2011, Michael L. Marcum resigned as Senior Vice President, Color & Specialty Compounds of Spartech Corporation (the Company). Ms. Victoria M. Holt, President and Chief Executive Officer, will assume Mr. Marcums responsibilities on an interim basis until the Company fills such position. Mr. Marcums resignation will be treated as a termination without Cause as defined in his Severance and Noncompetition Agreement (the Agreement). Under his Agreement, in the event of termination without Cause, Mr. Marcum will receive payments over a 12 month period equal in total to the sum of (i) 12 months base salary, at the highest rate paid in the preceding three years (which rate is $290,000 per year), and (ii) his average annual bonus awarded in the preceding three fiscal years (which average is $55,823). His severance agreement provides for continuing confidentiality obligations and includes noncompetition and nonsolicitation provisions that are effective for one year following his resignation.
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.