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EX-10.1 - EX-10.1 - Zep Inc.a14-16902_1ex10d1.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 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): July 8, 2014

 


 

Zep Inc.

(Exact name of registrant as specified in its charter)

 


 

Delaware

 

001-33633

 

26-0783366

(State or other jurisdiction of Company or
organization)

 

(Commission File Number)

 

(I.R.S. Employer Identification No.)

 

1310 Seaboard Industrial Boulevard, NW

 

 

Atlanta Georgia

 

30318-2825

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (404) 352-1680

 

Not Applicable

(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 July 8, 2014, Zep Inc. (the “Company”) was served with a final, executed copy of a Consent Agreement and Final Order (the “Consent Order”) between the Company and the United States Environmental Protection Agency (the “EPA”).  The effective date of the Consent Order was July 8, 2014, the date on which it was filed with the EPA’s Regional Hearing Clerk.  Pursuant to the Consent Order, the Company agreed to pay, on or before August 7, 2014, a civil penalty in the amount of $905,000 to resolve the EPA’s allegations that the Company’s subsidiary (i) sold an unregistered pesticide, (ii) sold a misbranded pesticide, and (iii) submitted false compliance certification statements to the EPA.  The Company neither admits nor denies the EPA’s factual allegations and legal conclusions as set forth in the Consent Order.  It agreed to the Consent Order to avoid the expense of litigation.  The Company recorded a charge against its earnings in the fourth quarter of fiscal 2013 in the amount of $250,000 with respect to this matter.  The remaining $655,000 was recorded as a charge against its earnings in the third quarter of fiscal 2014.

 

Item 9.01 - Financial Statements and Exhibits.

 

(d)              Exhibits

 

10.1              Consent Agreement and Final Order, dated July 8, 2014, between the United States Environmental Protection Agency and Zep Inc.

 

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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 thereunto duly authorized.

 

 

Date: July 11, 2014

 

 

 

 

Zep Inc.

 

 

 

 

 

By:

/s/ Philip A. Theodore

 

 

Philip A. Theodore

 

 

Vice President and General Counsel

 

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EXHIBIT INDEX

 

10.1              Consent Agreement and Final Order, dated July 8, 2014, between the United States Environmental Protection Agency and Zep Inc.

 

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