As filed with the Securities and Exchange Commission on January 13, 2000.
Registration No. 333-
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM S-8
Registration Statement
Under
The Securities Act of 1933
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THERMO ELECTRON CORPORATION
(Exact name of registrant as specified in its charter)
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DELAWARE 04-2209186
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
81 Wyman Street
Waltham, Massachusetts 02454-9046
(Address of Principal Executive Offices) (Zip Code)
COLEMAN RESEARCH CORPORATION 401(K) EMPLOYEE STOCK OWNERSHIP PLAN
THERMO ELECTRON CORPORATION EMPLOYEE STOCK PURCHASE PLAN
(Full Titles of the Plans)
Sandra L. Lambert, Secretary
Thermo Electron Corporation
81 Wyman Street
P. O. Box 9046
Waltham, Massachusetts 02454-9046
(Name and Address of Agent for Service)
(781) 622-1000
(Telephone Number, Including Area Code, of Agent For Service)
Copies to:
Seth H. Hoogasian, Esq., General Counsel
Thermo Electron Corporation
81 Wyman Street
P. O. Box 9046
Waltham, Massachusetts 02454-9046
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<PAGE>
CALCULATION OF REGISTRATION FEE
Title of Proposed
securities Amount Proposed Maximum Amount of
to be to be Maximum Aggregate Registration
registered registered Offering Offering Fee
Price Per Price
Share
Common Stock,
$1.00 par 1,310,000 $14.53125 $19,035,937.50 $5,026
value per shares (2) (2)
share (1)
In addition, pursuant to Rule 416(c) under the Securities Act of 1933, this
Registration Statement also covers an indeterminate number of interests issuable
in connection with the Coleman Research Corporation 401(k) Employee Stock
Ownership Plan and an indeterminate number of shares of the Registrant's Common
Stock as may be issuable in connection with adjustments under the employee
benefit plans described herein to reflect certain changes in the Registrant's
capital structure, including stock dividends or stock splits.
(1) Of the shares registered hereunder, 560,000 shares are issuable under the
Coleman Research Corporation 401(k) Employee Stock Ownership Plan, and
750,000 of the shares registered hereunder are issuable under the Thermo
Electron Corporation Employee Stock Purchase Plan.
(2) Estimated solely for the purpose of calculating the amount of the
registration fee in accordance with Rule 457(h) under the Securities Act
of 1933. The calculation of the proposed maximum aggregate offering price
has been based upon (1) the registration hereunder of an aggregate of
1,310,000 shares and (2) the average of the high and low sales prices,
$14.75 and $14.3125, respectively, of the Registrant's Common Stock on the
New York Stock Exchange on January 7, 2000 as reported in the consolidated
transaction reporting system.
<PAGE>
EXPLANATORY NOTE
This Registration Statement is filed pursuant to General Instruction E of
Form S-8 in order to register additional securities of the same class as other
securities for which a registration statement relating to the Coleman Research
Corporation 401(k) Employee Stock Ownership Plan (the "Coleman Plan") and the
Thermo Electron Corporation Employee Stock Purchase Plan (the "ESPP") is
effective.
On January 10, 1997, the Company filed a registration statement on Form S-8
(Reg. No. 333-19535) to register an aggregate of 250,000 shares of Common Stock
reserved for issuance under the Coleman Plan. The addition of this Registration
Statement brings the total number of shares registered for issuance under the
Coleman Plan to 810,000. In addition, on November 16, 1990, the Company filed a
registration statement on Form S-8 (Reg. No. 33-37865) to register an aggregate
of 400,000 shares of Common Stock reserved for issuance under the ESPP. The
addition of this Registration Statement, together with the effect of 3:2 stock
splits in 1993, 1995 and 1996 brings the total number of shares that have been
registered for issuance under the ESPP to 2,100,000. The contents of the
previously filed registration statements relating to the Coleman Plan and the
ESPP are incorporated herein by reference except for the items that are set
forth below. Pursuant to Instruction E, this Registration Statement contains
such information required by Form S-8 that is not otherwise included in the
previous registration statement.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The information required by Part I is included in documents sent or given
to the respective participants in the respective plans pursuant to Rule
428(b)(1) under the Securities Act of 1933, as amended (the "Securities Act").
As used in this Registration Statement, the terms "Registrant" or "Company"
refer to Thermo Electron Corporation.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The Registrant is subject to the informational and reporting requirements
of Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934,
as amended (the "Exchange Act"), and in accordance therewith files reports,
proxy statements and other information with the Securities and Exchange
Commission (the "Commission"). The following documents, which are on file with
the Commission, are incorporated in this Registration Statement by reference:
(a) The Company's Annual Report on Form 10-K for the fiscal year
ended January 2, 1999.
(b) The Company's Current Report on Form 8-K filed with the
Commission on January 8, 1999.
<PAGE>
(c) The Company's Current Report on Form 8-K filed with the
Commission on March 9, 1999.
(d) The Company's Current Report on Form 8-K filed with the
Commission on March 15, 1999.
(e) The Company's Quarterly Report on Form 10-Q for the quarter
ended April 3, 1999.
(f) The Company's Current Report on Form 8-K filed with the
Commission on May 25, 1999.
(g) The Company's Quarterly Report on Form 10-Q for the quarter
ended July 3, 1999.
(h) The Company's Quarterly Report on Form 10-Q for the quarter
ended October 2, 1999.
(i) The Company's Current Report on Form 8-K filed with the
Commission on December 21, 1999.
(j) The description of the Common Stock which is contained in the
Company's Registration Statement on Form 8-A filed under the
Exchange Act, as such description may be amended from time to
time.
All reports or proxy statements filed by the Company pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Exchange Act subsequent to the date of this
Registration Statement and prior to the filing of a post-effective amendment
that indicates that all securities offered herein have been sold, or that
deregisters all such securities then remaining unsold, shall be deemed to be
incorporated by reference in this Registration Statement and to be a part hereof
from the respective dates of filing of such documents.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
The validity of the Common Stock offered hereby has been passed upon by
Seth H. Hoogasian, Esq., General Counsel of the Company. Mr. Hoogasian is a
full-time employee of the Company, is an officer of the Company, and owns or has
the right to acquire 348,944 shares of Common Stock and 162,177 shares of the
Company's subsidiaries.
<PAGE>
Item 6. Indemnification of Directors and Officers.
The Delaware General Corporation Law and the Company's Certificate of
Incorporation and By-Laws limit the monetary liability of directors to the
Company and to its stockholders and provide for indemnification of the Company's
officers and directors for liabilities and expenses that they may incur in such
capacities. In general, officers and directors are indemnified with respect to
actions taken in good faith in a manner reasonably believed to be in, or not
opposed to, the best interests of the Company and, with respect to any criminal
action or proceeding, actions that the indemnitee had no reasonable cause to
believe were unlawful. The Company also has indemnification agreements with its
directors and officers that provide for the maximum indemnification allowed by
law.
The Company has an insurance policy which insures the directors and
officers of the Company and its subsidiaries against certain liabilities which
might be incurred in connection with the performance of their duties.
Item 7. Exemption from Registration Claimed.
Not Applicable.
Item 8. Exhibits.
The Exhibit Index immediately preceding the exhibits is attached hereto
and incorporated herein by 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;
(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 20 percent change in the maximum aggregate
offering price set forth in the "Calculation of Registration Fee" table in
the effective registration statement;
<PAGE>
(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 (a)(1)(i) and (a)(1)(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
Securities Exchange Act of 1934 that are incorporated by reference in the
registration statement.
(2) That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment 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.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
Registrant's annual report pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of
1934) 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
Securities Act of 1933 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 Securities and
Exchange 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 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.
<PAGE>
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 Waltham, Commonwealth of Massachusetts, on this 13th
day of January, 2000.
THERMO ELECTRON CORPORATION
By: /s/ Richard F. Syron
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Richard F. Syron
Chief Executive Officer
POWER OF ATTORNEY
Each of the undersigned Directors and Officers of Thermo Electron
Corporation hereby appoints Theo Melas-Kyriazi, Paul F. Kelleher, Kenneth J.
Apicerno, Seth H. Hoogasian and Sandra L. Lambert, and each of them, his true
and lawful attorneys-in-fact and agents, with full power of substitution, for
him and in his name, place and stead, in any and all capacities, to sign any and
all amendments (including post-effective amendments) to this Registration
Statement, and to file the same, with all exhibits thereto, and all documents in
connection therewith, with the Securities and Exchange Commission, granting unto
said attorneys-in-fact and agents, and each of them, full power and authority to
do and perform each and every act and thing requisite and necessary to be done
in and about the premises, as fully to all intents and purposes as he might or
could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents or any of them, or their or his substitute or
substitutes, may lawfully do or cause to be done by virtue thereof.
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities and on the dates indicated:
Signature Title Date
President, Chief Executive
Officer and Chairman of the
/s/ Richard F. Syron Board January 13, 2000
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Richard F. Syron
/s/ Theo Melas-Kyriazi Chief Financial Officer January 13, 2000
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Theo Melas-Kyriazi
<PAGE>
/s/ Paul F. Kelleher Chief Accounting Officer January 13, 2000
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Paul F. Kelleher
/s/ George N. Hatsopoulos Chairman Emeritus January 13, 2000
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George N. Hatsopoulos
/s/ John M. Albertine Director January 13, 2000
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John M. Albertine
/s/ Samuel W. Bodman Director January 13, 2000
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Samuel W. Bodman
/s/ Peter O. Crisp Director January 13, 2000
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Peter O. Crisp
/s/ Elias P. Gyftopoulos Director January 13, 2000
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Elias P. Gyftopoulos
/s/ John N. Hatsopoulos Director January 13, 2000
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John N. Hatsopoulos
/s/ Frank Jungers Director January 13, 2000
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Frank Jungers
/s/ Robert A. McCabe Director January 13, 2000
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Robert A. McCabe
/s/ Hutham S. Olayan Director January 13, 2000
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Hutham S. Olayan
/s/ Robert W. O'Leary Director January 13, 2000
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Robert W. O'Leary
/s/ Roger D. Wellington Director January 13, 2000
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Roger D. Wellington
<PAGE>
EXHIBIT INDEX
Exhibit
Number Description
5.1 Opinion of Seth H. Hoogasian, Esq.
5.2 Internal Revenue Service Determination Letter, dated June 19, 1995,
with respect to the qualification of the Coleman Research Corporation
401(k) Employee Stock Ownership Plan under Section 401 of the Internal
Revenue Code.
23.1 Consent of Arthur Andersen LLP
23.2 Consent of Seth H. Hoogasian, Esq. (contained in his opinion filed as
Exhibit 5).
24 Power of Attorney (see signature pages to this Registration Statement).
<PAGE>
EXHIBIT 5.1
Thermo Electron Corporation
81 Wyman Street
Waltham, Massachusetts 02454-9046
January 13, 2000
Thermo Electron Corporation
81 Wyman Street
Waltham, Massachusetts 02454-9046
Re: Registration Statement on Form S-8
Relating to 1,310,000 Shares of the Common Stock,
$1.00 par value, of Thermo Electron Corporation
Dear Sirs:
I am General Counsel to Thermo Electron Corporation, a Delaware
corporation (the "Company"), and have acted as counsel in connection with the
registration under the Securities Act of 1933, as amended, on Form S-8 (the
"Registration Statement"), of 1,310,000 shares of the Company's Common Stock,
$1.00 par value per share (the "Shares") subject to the Coleman Research
Corporation 401(k) Employee Stock Ownership Plan (the "KSOP") and the Thermo
Electron Corporation Employee Stock Purchase Plan (collectively, the "Plans"),
as well as an indeterminate amount of related interests in the KSOP (the
"Interests").
I or a member of my legal staff have reviewed the corporate proceedings
taken by the Company with respect to the authorization of the issuance of the
Shares. I or a member of my legal staff have also examined and relied upon
originals or copies, certified or otherwise authenticated to my satisfaction, of
all corporate records, documents, agreements or other instruments of the Company
and have made all investigations of law and have discussed with the Company's
representatives all questions of fact that I have deemed necessary or
appropriate.
Based upon and subject to the foregoing, I am of the opinion that:
1. The Company is a corporation validly existing and in corporate good
standing under the laws of the State of Delaware.
<PAGE>
2. The issuance and sale of the Shares as contemplated in the Registration
Statement have been duly authorized by the Company.
3. The Shares, when issued and sold in accordance with the provisions of
the applicable Plan, will be validly issued, fully paid and nonassessable.
I am also of the opinion that the respective Plans confer valid Interests
upon the participants in such Plans, to the extent and upon the terms and
conditions described in such Plans.
I hereby consent to the filing of this opinion as Exhibit 5.1 to the
Registration Statement.
Very truly yours,
/s/ Seth H. Hoogasian
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Seth H. Hoogasian
General Counsel
<PAGE>
EXHIBIT 5.2
INTERNAL REVENUE SERVICE DEPARTMENT OF THE TREASURY
DISTRICT DIRECTOR
P.O. BOX 1055
ATLANTA, GA 30370
Date: June 19, 1995 Employer Identification Number:
59-2039476
Coleman Research Corporation File Folder Number:
C/O Jack B. Levy, Esquire 590023259
2222 Arlington Avenue, South Person to Contact:
Birmingham, AL 35205 HUGH SPIKLER
Contact Telephone Number:
(404) 331-4103
Plan Name:
COLEMAN RESEARCH CORPORATION 401(K)
EMPLOYEE STOCK OWNERSHIP PLAN
Plan Number: 001
Dear Applicant:
We have made a favorable determination on your plan, identified above,
based on the information supplied. Please keep this letter in your permanent
records.
Continued qualification of the plan under its present form will depend on
its effect in operation. (See section 1.401-1(b) (3) of the Income Tax
Regulations.) We will review the status of the plan in operation periodically.
The enclosed document explains the significance of this favorable
determination letter, points out some features that may affect the qualified
status of your employee retirement plan, and provides information on the
reporting requirements for your plan. It also describes some events that
automatically nullify it. It is very important that you read the publication.
This letter relates only to the status of your plan under the Internal
Revenue Code. It is not a determination regarding the effect of other federal or
local statutes.
This determination letter is applicable for the amendment(s) adopted on
10/28/94.
This plan satisfies the requirements of Code section 4975 (e)(7).
<PAGE>
This plan has been mandatorily disaggregated, permissively aggregated, or
restructured to satisfy the nondiscrimination requirements.
This plan satisfies the nondiscrimination in amount requirement of section
1.401 (a)(4) - 1 (b) (2) of the regulations on the basis of a design-based safe
harbor described in the regulations.
This letter is issued under Rev. Proc. 93-39 and considers the amendments
required by the Tax Reform Act of 1986 except as otherwise specified in this
letter.
This plan satisfies the nondiscriminatory current availability
requirements of section 1.401 (a) (4)-4 (b) of the regulations with respect to
those benefits, rights, and features that are currently available to all
employees in the plan's coverage group. For this purpose, the plan's coverage
group consists of those employees treated as currently benefiting for purposes
of demonstrating that the plan satisfies the minimum coverage requirements of
section 410 (b) of the Code.
This letter may not be relied upon with respect to whether the plan
satisfies the qualification requirements as amended by the Uruguay Round
Agreements Act, Pub. L. 103-465.
We have sent a copy of this letter to your representative as indicated in
the power of attorney.
If you have questions concerning this matter, please contact the person
whose name and telephone number are shown above.
Sincerely yours,
/s/ Nelson A. Brooke
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Nelson A. Brooke
District Director
Enclosures:
Publication 794
Reporting and Disclosure Guide
for Employee Benefit Plans
<PAGE>
Exhibit 23.1
Consent of Independent Public Accountants
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As independent public accountants, we hereby consent to the incorporation
by reference in this registration statement on Form S-8 of our reports dated
February 16, 1999 (except with respect to the matters discussed in Note 19, as
to which the date is March 1, 1999), included in Thermo Electron Corporation's
Annual Report on Form 10-K for the year ended January 2, 1999, and to all
references to our Firm included in this registration statement.
Arthur Andersen LLP
Boston, Massachusetts
January 6, 2000
