Cendant Corporation 8-K dated February 15, 2006
 
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) February 17, 2006 (February 15, 2006) 


Cendant Corporation
(Exact name of Registrant as specified in its charter)

 
 
Delaware
(State or other jurisdiction
of incorporation)
 
1-10308
(Commission File No.)
 
06-0918165
(I.R.S. Employer
Identification Number)
 
 
9 West 57th Street
New York, NY
(Address of principal
executive office)
  
 
 
10019
(Zip Code)
 
Registrant's telephone number, including area code  (212) 413-1800

None
(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:
 
[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ] 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 February 15, 2006, the Compensation Committee of our Board of Directors approved an annual bonus in respect of fiscal year 2005 for Henry R. Silverman, our Chairman and Chief Executive Officer, equal to $12,316,600. The 2005 bonus is approximately 20% less than the bonus paid to Mr. Silverman for fiscal year 2004 and 8% less than the bonus paid to Mr. Silverman for fiscal year 2003.

As previously disclosed, the bonus amount is determined based on the formula set forth in Mr. Silverman’s employment agreement that was amended in August 2004 pursuant to the settlement of a stockholder derivative action.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 

     
CENDANT CORPORATION
 
 
   
By:
/s/ Eric J. Bock
     
Eric J. Bock
Executive Vice President, Law and
Corporate Secretary 

 
Date: February 17, 2006