As filed with the Securities and Exchange Commission on 14 March 2003
Registration No.______________
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
AIR PRODUCTS AND CHEMICALS, INC.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation or Organization)
23-1274455
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(I.R.S. Employer Identification No.)
7201 Hamilton Boulevard, Allentown, Pennsylvania 18195-1501
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(Address of Principal Executive Offices) (Zip Code)
Air Products and Chemicals, Inc. Long-Term Incentive Program (including the
Long-Term Incentive Plan, Stock Incentive Program, Stock Option Plan for
Directors, and the Deferred Compensation Plan for Directors)
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(Full Title of the Plans)
W. Douglas Brown, Vice President, General Counsel and Secretary
Air Products and Chemicals, Inc., 7201 Hamilton Boulevard, Allentown, PA
18195-1501
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(Name and Address of Agent for Service)
610-481-4911
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(Telephone Number, Including Area Code, of Agent for Service)
CALCULATION OF REGISTRATION FEE
Amount to Proposed maximum Proposed maximum
Title of securities to be be offering price aggregate Amount of
registered registered per share offering price registration fee
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Common Stock, par value $1 169,200 $ 6,451,596.00 $ 521.93(1)
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Options granted October 1, 2002 4,600,300 $43.09 $198,226,927.00 $ 16,036.56(2)
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Options granted January 24, 2002 20,000 $45.91 $ 918,200.00 $ 74.28(2)
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Options granted May 15, 2002 100,000 $52.19 $ 5,219,000.00 $ 422.22(2)
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Options granted January 23, 2003 20,000 $41.96 $ 839,200.00 $ 67.89(2)
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4,909,500 $211,654,923.00 $ 17,122.88
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(1) The registration fee with respect to these shares has been computed in
accordance with paragraphs (c) and (h) of Rule 457, based upon the average
of the reported high and low sale prices of shares of Common Stock on 10
March 2003 (i.e., $38.13 per share).
(2) The registration fee with respect to these shares has been computed in
accordance with paragraph (h) of Rule 457 based upon the stated exercise
price of the Options.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
ITEM 1. PLAN INFORMATION. (3)
ITEM 2. REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION. (3)
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.
The documents listed in clauses (a), (b) and (c) below are
incorporated herein by this reference thereto, and all documents subsequently
filed by the registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Securities Exchange Act of 1934, prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, shall be deemed to be
incorporated by this reference in this registration statement and to be a part
hereof from the date of filing of such documents.
(a) The registrant's Annual Report on Form 10-K for the year ended
September 30, 2002.
(b) All other reports filed by the registrant pursuant to Section
13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by
the registrant document referred to in (a) above.
(c) The description of the Common Stock contained in the
registration statement filed by the registrant to register such securities under
Section 12 of the Securities Exchange Act of 1934, including any amendment or
report filed for the purpose of updating such description.
Any statement contained in a document incorporated or deemed to be
incorporated by reference in this registration statement shall be deemed to be
modified or superseded for purposes of this registration statement to the extent
that a statement contained in this registration statement or in any other
contemporaneously or subsequently filed document which also is or is deemed to
be incorporated by reference in this registration statement modifies or
supersedes such statement. Any such statement so modified or superseded shall
not be deemed, except as so modified or superseded, to constitute a part of this
registration statement.
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(3) The information called for by Part I of Form S-8 is currently included in
the registrant's Prospectuses for its Long-Term Incentive Plan, Stock
Incentive Program, Stock Option Plan for Directors, and the Deferred
Compensation Plan for Directors. Pursuant to the Note to Part I of Form S-8,
this information is not being filed with or included in this Form S-8.
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ITEM 4. DESCRIPTION OF SECURITIES.
Not applicable.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.
Not applicable.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.
Section 145 of the Delaware Corporation Law gives corporations
the power to indemnify officers and directors under certain circumstances.
Article Ninth of the registrant's Restated Certificate of
Incorporation, as amended, contains provisions which provide for indemnification
of certain persons (including officers and directors). The Restated Certificate
of Incorporation, and its amendment, are filed as an exhibit to the registrant's
Annual Report on Form 10-K for the fiscal years ended September 30, 1987 and
September 30, 1996, respectively.
The registrant maintains insurance that generally insures the
officers and directors of the registrant and its subsidiaries (as defined in
said policy) against liabilities incurred in such capacities, and insures the
registrant with respect to amounts to which officers and directors become
entitled as indemnification payments from the registrant, subject to certain
specified exclusions and deductible and maximum amounts. The registrant also
maintains a policy of insurance that insures, among others, certain officers and
directors of the registrant and certain of its subsidiaries against liabilities
incurred for Breach of Fiduciary Duty (as defined in said policy) with respect
to their performance of their duties and responsibilities in connection with
certain pension and retirement plans of the registrant and certain of its
subsidiaries, subject to certain specified exclusions and deductible and maximum
amounts.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.
Not applicable.
ITEM 8. EXHIBITS.
23. Consent of KPMG LLP
23A. Consent of Arthur Andersen LLP (omitted pursuant to
Rule 437a as described in the Exhibit
24. Power of Attorney
ITEM 9. UNDERTAKINGS.
(a) Rule 415 offering.
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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; and
(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 (1)(i) and 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 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) Filings Incorporating Subsequent Exchange Act Documents By
Reference.
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 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.
(h) Filing Of Registration Statement On Form s-8.
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
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to the provisions described under Item 6 above, 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 Securities Act of
1933 and is, therefore, unenforceable. In the event that a claim for
indemnification against such liability (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 Securities Act of 1933 and will be
governed by the final adjudication of such issue.
SIGNATURES
The Registrant. 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 Allentown, Commonwealth of Pennsylvania, on this
14th day of March 2000.
AIR PRODUCTS AND CHEMICALS, INC.
(Registrant)
By /s/ W. Douglas Brown
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W. Douglas Brown*
Vice President, General Counsel
and Secretary
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* W. Douglas Brown, Vice President, General Counsel and Secretary, by signing
his name hereto, signs this registration statement on behalf of the
registrant and, for each of the persons indicated by asterisk on pages 6 and
7 hereof, pursuant to a power of attorney duly executed by such persons,
which is filed with the Securities and Exchange Commission herewith.
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Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the date indicated.
Signature Title Date
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/s/ John P. Jones III Director, Chairman of the Board,
- ---------------------------- President, and Chief Executive Officer
John P. Jones III (Principal Executive Officer) 14 March 2003
Vice President and Chief
/s/ John R. Owings Financial Officer 14 March 2003
- ---------------------------- (Principal Financial
John R. Owings Officer)
Vice President and
/s/ Paul E. Huck Corporate Controller 14 March 2003
- ---------------------------- (Principal Accounting
Paul E. Huck Officer)
* Director 14 March 2003
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Mario L. Baeza
* Director 14 March 2003
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L. Paul Bremer III
* Director 14 March 2003
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Michael J. Donahue
* Director 14 March 2003
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Ursula F. Fairbairn
* Director 14 March 2003
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Edward E. Hagenlocker
* Director 14 March 2003
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James F. Hardymon
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Signature Title Date
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* Director 14 March 2003
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Terrence Murray
* Director 14 March 2003
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Charles H. Noski
* Director 14 March 2003
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Paula G. Rosput
* Director 14 March 2003
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Lawrason D. Thomas
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EXHIBIT INDEX
23. Consent of KPMG LLP
23A. Consent of Arthur Andersen LLP (omitted pursuant to Rule 437a as
described in the Exhibit)
24. Power of Attorney
No opinion of counsel is being filed because the Common Stock to be distributed
in connection with the Plan will consist exclusively of previously issued shares
that are presently held by the registrant as treasury shares or under the
registrant's Flexible Employee Benefits Trust and will not constitute original
issuance shares; further, no opinion is being furnished with respect to ERISA
compliance because the Plans covered by the registration statement are not
subject to the requirements of ERISA.
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Exhibit 23
KPMG LLP
Independent Auditors' Consent
The Board of Directors
Air Products and Chemicals, Inc.:
We consent to the use of our report dated 28 October 2002, with respect to the
consolidated balance sheet of Air Products and Chemicals, Inc. and subsidiaries
as of 30 September 2002, and the related consolidated statements of income, cash
flows and shareholders' equity for the year then ended, incorporated herein by
reference.
Our report contains an explanatory paragraph relating to the fact that the
financial statements of Air Products and Chemicals, Inc. and subsidiaries as of
30 September 2001 and for each of the years in the two-year period then ended
were audited by other auditors who have ceased operations. As described in Note
1 to the financial statements, those financial statements have been revised. We
audited the adjustments described in Note 1 that were applied to revise the 2001
and 2000 financial statements. In addition, as described in Note 10, the
financial statements have been revised to include the transitional disclosures
required by Statement of Financial Accounting Standards No. 142, "Goodwill and
Other Intangible Assets," which was adopted as of 1 October 2001. However, we
were not engaged to audit, review, or apply any procedures to the 2001 and 2000
financial statements of Air Products and Chemicals, Inc. and subsidiaries other
than with respect to such adjustments and disclosures, and, accordingly, we do
not express any opinion or any other form of assurance on the 2001 and 2000
financial statements taken as a whole.
/s/ KPMG LLP
Philadelphia, Pennsylvania
11 March 2003
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Exhibit 23 A
Consent of Arthur Andersen LLP
The Company's financial statements as of September 30, 2001 and for each of the
years in the two-year period then ended, incorporated herein by reference to the
Company's Annual Report on Form 10-K for the year ended September 30, 2002, were
audited by Arthur Andersen LLP ("Andersen"). Subsequently, Andersen was
dismissed as the Company's independent auditors.
Section 11(a) of the Securities Act of 1933 (the "Act") provides that in case
any part of a registration statement, at the time it became effective, contains
an untrue statement of a material fact or omits to state a material fact
necessary to make the statements therein not misleading, any person acquiring a
security pursuant to the registration statement (unless at the time of such
acquisition he knew of the untruth or omission) may sue, among others, any
accountant who has consented to be named in the registration statement as having
prepared or certified such part of the registration statement. After reasonable
efforts, the Company has been unable to obtain the consent of Andersen to the
incorporation by reference in this Registration Statement of Andersen's reports
on its audit of the Company's financial statements referred to above. Under
these circumstances, Rule 437a under the Act permits the Company to file this
Registration Statement without such consents. Without such consents, a person
acquiring shares of the Company pursuant to this Registration Statement will be
unable to assert a claim against Andersen under Section 11(a) of the Act in the
event of an untrue statement of material fact or a material omission in the
financial statements audited by Andersen or in its reports with respect thereto.
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Exhibit 24
STOCK PLANS
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below constitutes and appoints JOHN P. JONES III or JOHN R. OWINGS or W.
DOUGLAS BROWN, acting severally, his/her true and lawful attorney-in-fact and
agent, with full power of substitution and resubstitution, for him/her and in
his/her name, place, and stead, in any and all capacities, to sign Form S-3 and
S-8 Registration Statements and amendments thereto pertaining to interests in
and/or Common Stock offered, issued, sold, or resold under
- the Air Products and Chemicals, Inc. Long-Term Incentive Plan;
- the Air Products and Chemicals, Inc. Retirement Savings and Stock
Ownership Plan;
- the Air Products and Chemicals, Inc. Supplementary Savings Plan;
- the Air Products and Chemicals, Inc. Annual Incentive Plan;
- the Air Products and Chemicals, Inc. Stock Incentive Program;
- the Air Products Employee Stock Option Award granted 2 October 1995,
the Air Products Employee Stock Option Award granted 1 October 1997
and/or the Air Products Employee Stock Option Award granted 1 October
1999;
- the Air Products and Chemicals, Inc. Deferred Compensation Plan for
Directors and/or the Air Products and Chemicals, Inc. Stock Option Plan
for Directors;
- the Air Products PLC U.K. Savings-Related Share Option Scheme and/or
the Air Products Group Limited U.K. Savings-Related Share Option
Scheme;
- the Investors Choice Dividend Reinvestment and Direct Stock Purchase
and Sale Plan for Shareholders of Air Products and Chemicals, Inc.;
- the Air Products and Chemicals, Inc. Flexible Employee Benefits Trust
Agreement, dated December 29, 1993 as it may be amended from time to
time;
- the Amended and Restated Trust Agreement for the Air Products and
Chemicals, Inc. Supplementary Pension Plan and certain other defined
benefit pension agreements including the directors pension plan, dated
August 1, 1999, as it may be as amended from time to time;
- the Amended and Restated Trust Agreement for the Air Products and
Chemicals, Inc. Supplementary Savings Plan and the Deferred
Compensation Plan for Directors, dated August 1, 1999, as it may be
amended from time to time;
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- the Amended and Restated Trust Agreement for the Stearns Catalytic
World Corporation Supplementary Retirement Plan, dated August 1, 1999,
as it may be amended from time to time; and
- any other plan, program, or award (together with all of the foregoing,
the "Plans") of Air Products and Chemicals, Inc. or its subsidiaries
existing from time to time which involves Common Stock,
which Registration Statements may be required under applicable law for (i) the
registration of interests in and/or Common Stock for issuance under any of such
Plans as may be necessary from time to time in accordance with the provisions of
such Plans, (ii) amendments to said Plans heretofore or hereafter approved or
established by or through authority delegated from the Board or the appropriate
committee of the Board, by Air Products PLC, by Air Products Group Limited, or
by the Plan Administrator, (iii) the sale or transfer from time to time by the
Trustee or Trustees and/or the Company to the public and/or to Plan
Participants, and/or to pay Plan obligations (as such terms are defined in the
relevant Trust Agreement) payable in cash or Common Stock and/or to fund the
Trust with cash as required by the Trust Agreements, or (iv) any fundamental
change in the information contained in such Registration Statements, and to file
the same, with all exhibits thereto and other documents in connection therewith,
with the Securities and Exchange Commission, granting unto said attorney-in-fact
and agent 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/she might or could do in person, hereby ratifying
and confirming all that said attorney-in-fact and agent, or his substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Power
of Attorney has been signed below by the following persons in the capacities and
on the dates indicated.
SIGNATURE TITLE DATE
/s/ John P. Jones III Director, Chairman of the Board, November 21, 2002
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John P. Jones III Chief Executive Officer and
Employee Benefit Plans
Committee Member
(Principal Executive Officer)
/s/ Mario L. Baeza Director November 21, 2002
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Mario L. Baeza
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/s/ L. Paul Bremer III Director November 21, 2002
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L. Paul Bremer III
/s/ Michael J. Donahue Director November 21, 2002
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Michael J. Donahue
/s/ Ursula F. Fairbairn Director November 21, 2002
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Ursula F. Fairbairn
/s/ Edward E. Hagenlocker Director November 21, 2002
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Edward E. Hagenlocker
/s/ James F. Hardymon Director November 21, 2002
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James F. Hardymon
/s/ Terry R. Lautenbach Director November 21, 2002
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Terry R. Lautenbach
/s/ Terrence Murray Director November 21, 2002
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Terrence Murray
/s/ Charles H. Noski Director November 21, 2002
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Charles H. Noski
/s/ Paula G. Rosput Director November 21, 2002
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Paula G. Rosput
/s/ Lawrason D. Thomas Director November 21, 2002
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Lawrason D. Thomas
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