APPLIED INDUSTRIAL TECHNOLOGIES, INC. S-8
As filed
with the Securities and Exchange Commission on October 18, 2006
Registration No. 333-__________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
APPLIED INDUSTRIAL TECHNOLOGIES, INC.
(Exact name of Registrant as specified in its charter)
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Ohio
(State or other jurisdiction of incorporation or organization)
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34-0117420
(I.R.S. Employer Identification No.) |
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One Applied Plaza,
Cleveland, Ohio
(Address of Principal Executive Offices)
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44115
(Zip Code) |
Applied Industrial Technologies, Inc.
1997 Long-Term Performance Plan
(Full title of the plan)
Fred D. Bauer
Vice President, General Counsel and Secretary
Applied Industrial Technologies, Inc.
One Applied Plaza, Cleveland, Ohio 44115
(Name and address of agent for service)
(216) 426-4000
(Telephone number, including area code, of agent for service)
With copy to:
David Zagore
Squire, Sanders & Dempsey L.L.P.
4900 Key Tower, 127 Public Square
Cleveland, Ohio 44114-1304
CALCULATION OF REGISTRATION FEE
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Title of Securities
to be Registered
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Amount to be
Registered (1)
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Proposed Maximum
Offering Price per
Share (2)
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Proposed Maximum
Aggregate Offering
Price (2)
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Amount of
Registration Fee
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Common Stock, no par value
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5,000,000 shares
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$ |
26.00 |
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$ |
130,000,000 |
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$ |
13,910.00 |
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(1) |
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An undetermined number of additional shares of common stock may be issued if the
anti-dilution provisions of the plan become operative. |
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(2) |
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Estimated solely for the purpose of calculating the amount of the registration fee. Pursuant
to Securities Act Rule 457(c), the proposed maximum offering price per unit is calculated as
the average of the high and low prices for the Common Stock as reported by the New York Stock Exchange consolidated reporting system as of
October 16, 2006.
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PART I
The documents containing the information specified in Part I of From S-8 will be sent or given
to the participants as specified by Rule 428(b)(1) of the Securities At of 1933, as amended. Such
documents and the documents incorporated by reference herein pursuant to Item 3 of Part II of this
Form, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the
Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Certain Documents by Reference.
Applied Industrial Technologies (Registrant) incorporates by reference and makes part of
this Registration Statement the following documents:
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(a) |
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The Registrants Annual Report on Form 10-K for the fiscal year ended June 30,
2006, filed with the Securities and Exchange Commission (the Commission) pursuant to
the Securities Exchange Act of 1934, as amended (the Exchange Act); |
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(b) |
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The Registrants Current Reports on Form 8-K filed with the Commission on
August 8, 2006 (Accession Numbers 06-004153 and 06-003801); and |
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(c) |
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the description of the Common Stock, no par value, of the Registrant (Common
Stock) contained in the Registrants Registration Statement on Form S-4 (SEC File No.
333-27801) filed with the Commission on May 23, 1997, and any amendments or reports
filed for the purpose of updating such description. |
Until the Registrant files a post-effective amendment to this Registration Statement
indicating that all securities offered have been sold, or deregistering all such securities which
remain unsold, all documents subsequently filed by the Registrant or the Applied Industrial
Technologies, Inc. 1997 Long-Term Performance Plan (the Plan) pursuant to Sections 13(a), 13(c),
14 and 15(d) of the Exchange Act, shall be deemed to be incorporated by reference in this
Registration Statement and to be a part hereof from the date of filing such documents.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel
Not applicable.
Item 6. Indemnification of Directors and Officers.
Ohio law permits the Registrant to indemnify a director, officer, employee and certain other
persons (Covered Persons) against expenses, judgments, fines, and settlements reasonably incurred
in a nonderivative suit, and against expenses reasonably incurred in a derivative suit, if the
Covered Person acted in good faith and in a manner reasonably believed to be in or not opposed to
the best interests of the Registrant. In addition, Ohio law permits the Registrant to indemnify a
Covered Person in a criminal action or proceeding, other than in a derivative suit, if the person
had no reasonable cause to believe his or her conduct was unlawful.
Unless ordered by a court, no indemnification of expenses in a derivative suit is authorized
by Ohio law if the Covered Person is finally adjudged to be liable for negligence or misconduct in
the performance of his or her duty to the corporation. However, if a Covered Person is successful
on the merits or in defense of any matter,
indemnification of expenses is mandatory. In addition, under Ohio law, a directors expenses
shall be paid by the corporation as they are incurred, provided the director agrees to reasonably
cooperate with the corporation and to repay the amounts advanced if it is proved by clear and
convincing evidence that the directors action or failure to act was done with deliberate intent to
cause injury or with reckless disregard for the best interests of the corporation.
Under Ohio law, a director is generally not liable for monetary damages unless it is proved by
clear and convincing evidence that the Directors action or failure to act was undertaken with
deliberate intent to cause injury to the corporation or with reckless disregard for the best
interests of the corporation. There is, however, no comparable provision limiting the liability of
officers, employees, or agents of a corporation. The statutory right to indemnification is not
exclusive and is in addition to any other rights granted to persons seeking indemnification.
The Registrants Regulations provide that the Registrant shall indemnify its directors and
officers to the full extent permitted by Ohio law, including circumstances in which indemnification
is otherwise discretionary under Ohio law.
The Registrant has entered into indemnification agreements with its officers and directors
containing provisions that are in some respects broader than the specific indemnification
provisions contained in the Ohio Law. The indemnification agreements may require the Registrant,
among other things, to indemnify its directors against certain liabilities that may arise by reason
of their status or service as directors (other than liabilities arising from willful misconduct or
willful disregard of duties), to advance their expenses incurred as a result of any proceeding
against them as to which they could be indemnified, and to obtain directors insurance if available
on reasonable terms.
The Registrant has also obtained directors and officers liability insurance covering, subject
to certain exceptions, actions taken by the Registrants directors and officers in their capacities
as such.
Item 7. Exemption From Registration Claimed.
Not applicable.
Item 8. Exhibits.
The Exhibits to this Registration Statement are listed in the Exhibit Index, which Exhibit
Index is incorporated herein by this reference.
Item 9. Undertakings.
(a) The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:
(i) To include any prospectus required by Section 10(a)(3) of the
Securities Act of 1933 (the Act);
(ii) To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in the registration statement.
Notwithstanding the foregoing, any increase or decrease in volume of securities
offered (if the total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the
maximum
aggregate offering price set forth in the Calculation of Registration Fee
table in the effective registration statement;
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any
material change to such information in the registration
statement;
provided, however, that paragraphs (i) and (ii) do not apply if
the information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the
Commission by the Registrant pursuant to Section 13 or Section 15(d) of the
Exchange Act of 1934 that are incorporated by reference in this registration
statement.
(b) The undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Act, each filing of the Registrants annual report pursuant to Section 13(a) or
Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plans
annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in
the registration statement shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the Act may be permitted to
directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions,
or otherwise, the Registrant has been advised that in the opinion of the Commission such
indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities (other than the payment by
the Registrant of expenses incurred or paid by a director, officer or controlling person of the
Registrant in the successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question of whether such
indemnification by it is against public policy as expressed in the Act and will be governed by the
final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Cleveland, and the State of
Ohio, on July 18, 2006.
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APPLIED INDUSTRIAL TECHNOLOGIES, INC.
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By:
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/s/ David L Pugh |
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David L. Pugh, Chief Executive Officer |
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in their indicated capacities as
of the 18th day of July,
2006.
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/s/ David L. Pugh
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Chairman and Chief Executive
Officer and Director
(Principal Executive Officer) |
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/s/ Bill L. Purser
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President and Chief Operating Officer |
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/s/ Mark O. Eisele
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Vice President, Chief Financial
Officer and Treasurer
(Principal Financial Officer) |
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/s/ Daniel T. Brezovec
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Corporate Controller (Principal Accounting Officer) |
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/s/ William G. Bares
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Director |
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/s/ Thomas A. Commes
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Director |
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/s/ Peter A. Dorsman
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Director |
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/s/ L. Thomas Hiltz
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Director |
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/s/ Edith Kelly-Green
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Director |
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/s/ John F. Meier
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Director |
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/s/ J. Michael Moore
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Director |
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/s/ Dr. Jerry Sue Thornton
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Director |
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/s/ Peter C. Wallace
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Director |
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/s/ Stephen E. Yates
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Director |
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Exhibit |
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No.* |
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Description |
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4(a)
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Certificate of Merger of Bearings, Inc. (Ohio) and Bearings, Inc. (Delaware) filed with the
Ohio Secretary of State on October 18, 1988, including an Agreement and Plan of Reorganization
dated September 6, 1988 (filed as Exhibit 4(a) to Registrants Registration Statement on Form
S-4 filed May 23, 1997, Registration No. 333-27801, and incorporated herein by reference). |
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4(b)
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Private Shelf Agreement dated as of November 27, 1996, as amended on January 30, 1998,
between Applied and The Prudential Investment Management, Inc. (assignee of The Prudential
Insurance Company of America) (filed as Exhibit 4(f) to the Companys Form 10-Q for the
quarter ended March 31, 1998, SEC File No. 1-2299, and incorporated here by reference). |
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4(c)
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Amendment dated October 24, 2000 to November 27, 1996 Private Shelf Agreement between Applied
and The Prudential Insurance Company of America (filed as Exhibit 4(e) to Registrants Form
10-Q for the quarter ended September 30, 2000, SEC File No. 1-2299, and incorporated herein by
reference). |
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4(d)
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Amendment dated November 14, 2003 to 1996 Private Shelf Agreement between Applied and The
Prudential Insurance Company of America (filed as Exhibit 4(d) to Registrants Form 10-Q for
the quarter ended December 31, 2003, SEC File No. 1-2299, and incorporated herein by
reference). |
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4(e)
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Amendment dated February 25, 2004 to 1996 Private Shelf Agreement between Applied and the
Prudential Insurance Company of America (filed as Exhibit 4(e) to Registrants Form 10-Q for
the quarter ended March 31, 2004, SEC File No. 1-2299, and incorporated herein by reference). |
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4(f)
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$100,000,000 Credit Agreement dated as of June 3, 2005 among Applied, KeyBank National
Association as Agent, and various financial institutions (filed as Exhibit 4 to Registrants
Form 8-K dated June 9, 2005, SEC File No. 1-2299, and incorporated herein by reference). |
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4(g)
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Rights Agreement, dated as of February 2, 1998, between Applied and Computershare Investor
Services LLP (successor to Harris Trust and Savings Bank), as Rights Agent, which includes as
Exhibit B thereto the Form of Rights Certificate (filed as
Exhibit No. 1 to Registrants Registration Statement on Form 8-A filed July
20, 1998, SEC File No. 1-2299, and incorporated herein by reference). |
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5
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Opinion of Squire, Sanders & Dempsey LLP as to the legality of the securities registered.
(attached) |
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23(a)
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Consent of Deloitte & Touche LLP (attached) |
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23(b)
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Consent of Squire, Sanders & Dempsey L.L.P. (contained in Exhibit 5) |
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99
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1997 Long-Term Performance Plan (attached) |
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All exhibits hereto are being filed through incorporation by reference, unless otherwise
indicated. |