Barnes Group Inc.(B) said in a filing with the U.S. Securities and Exchange Commission that, on December 11, 2009, its board of directors appointed Marian Acker to the position of Vice President, Controller, effective January 1, 2010. The company said that Acker will serve as principal accounting officer, replacing Francis Boyle, Vice President, Finance and Chief Accounting Officer, in that capacity.
Effective January 1, 2010, Acker will receive annual allowance of $20,000 and will continue to participate in the company's Management Incentive Compensation Plan, the company noted.
In connection with this appointment, the board also authorized severance agreement with Acker on substantially the same terms generally entered into between the company and its executive officers. In addition, the board authorized entering into an incentive compensation reimbursement agreement with Acker.
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