UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported)    December 6, 2011

 

Covance Inc.

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware

 

1-12213

 

22-3265977

(State or other jurisdiction

 

(Commission

 

(IRS Employer

of incorporation)

 

File Number)

 

Identification No.)

 

210 Carnegie Center, Princeton, New Jersey

 

08540

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code    609-452-4440

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

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:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

 

On December 6, 2011, the Board of Directors approved the following changes to Board compensation for non-employee Directors:

 

1.               The annual retainer shall be increased from $36,000 to $75,000 effective 2012.

2.               The annual retainer for the Chair of the Compensation and Organization Committee shall be increased from $7,500 to $10,000 effective 2012.

3.               The 2008 Non-Employee Director Stock Option Plan shall be terminated effective immediately and no further grants shall be issued under such plan.

 

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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.

 

 

 

COVANCE INC.

 

 

 

 

Date:    December 12, 2011

/s/ James W. Lovett

 

Name:

James W. Lovett

 

Title:

Corporate Senior Vice President,

 

 

Secretary and General Counsel

 

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