SENIOR VP AND CFO

2011-08-06T08:56:21-05:00 2010-12-31 BDO USA LLP 7101 WISCONSIN AVE SUITE 800 BETHESDA MD 208144827 990 2010-01-01 620786018 COTTON INCORPORATED COTT 9196782220 6399 WESTON PARKWAY CARY NC 27513 DAVID BYRD SENIOR VP AND CFO 9196782220 2011-08-06 1 MICHAEL SORRELLS CPA 3016544900 2010 2016-03-07 17:11:31Z DAVID BYRD 6399 WESTON PARKWAY CARY NC 27513 66032153 0 X WWW.COTTONINC.COM X 1967 TN FROM AGRICULTURAL, FIBER AND TEXTILE RESEARCH, MARKET INFORMATION AND TECHNICAL SERVICES TO ADVERTISING AND PUBLIC RELATIONS, FASHION FORECASTS AND RETAIL PROMOTIONS, WE KEEP ONE GOAL IN MIND: TO ENSURE THAT COTTON REMAINS THE FIRST CHOICE AMONG CONSUMERS IN APPAREL AND HOME PRODUCTS. 126 126 165 126 0 0 77130343 66032153 0 0 0 0 0 0 77130343 66032153 0 0 0 0 15399788 16787328 0 0 0 57638169 49747277 73037957 66534605 4092386 -502452 15320862 12925862 16665066 14772518 -1344204 -1846656 X FROM AGRICULTURAL, FIBER AND TEXTILE RESEARCH, MARKET INFORMATION AND TECHNICAL SERVICES TO ADVERTISING AND PUBLIC RELATIONS, FASHION FORECASTS AND RETAIL PROMOTIONS, WE KEEP ONE GOAL IN MIND: TO ENSURE THAT COTTON REMAINS THE FIRST CHOICE AMONG CONSUMERS IN APPAREL AND HOME PRODUCTS. 0 0 CONSUMER MARKETING PROGRAM SERVICE CONTINUED TO USE A DIVERSIFIED PORTFOLIO OF COMMUNICATION VEHICLES TO PROMOTE THE AWARENESS OF COTTON. FIBER RESEARCH IS A COMPREHENSIVE RESEARCH AND DEVELOPMENT PROGRAM THAT USED ITS ACTIVITIES TO IMPROVE THE PROFITABILITY OF COTTON THROUGH THE CREATION AND UTILIZATION OF KNOWLEDGE IN THE AGRICULTURAL SCIENCES. GLOBAL STRATEGY AND IMPLEMENTATION USED ITS RESOURCES TO INCREASE THE USAGE OF COTTON IN TRADITIONAL MARKETS AND PUSHED FOR NEW FRONTIERS IN THE COTTON USAGE IN NON-TRADITIONAL MARKETS. THIS SERVICE MET WITH SUPPLY CHAIN DECISION MAKERS THROUGH ACCOUNT MEETING, TRADE SHOWS AND INDUSTRY EVENTS AS WELL AS WITH EQUIPMENT MANUFACTURERS AND OTHER SUPPLIERS. CORPORATE SERVICES PRODUCT RESEARCH AND DEVELOPMENT 0 1 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 116 0 165 1 0 1 CH HK MX JA 0 0 0 0 X 126 126 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 TN NC X DAVID BYRD 9196782220 6399 WESTON PARKWAY CARY NC 27513 BUDDY ALLEN BOARD MEMBER 1.00 X 0 0 0 STEVEN ALSABROOK BOARD MEMBER 1.00 X 0 0 0 HARRIS ARMOUR BOARD MEMBER 1.00 X 0 0 0 LLOYD ARTHUR BOARD MEMBER 1.00 X 0 0 0 COLEY BAILEY JR BOARD MEMBER 1.00 X 0 0 0 ROY BAXLEY BOARD MEMBER 1.00 X 0 0 0 RICKEY BEARDEN BOARD CHAIRMAN 1.00 X X 0 0 0 ALLEN BELOW BOARD MEMBER 1.00 X 0 0 0 MARVIN BEYER JR BOARD MEMBER 1.00 X 0 0 0 FRANK BEZNER JR BOARD MEMBER 1.00 X 0 0 0 KENNETH BICKLEY BOARD MEMBER 1.00 X 0 0 0 KEITH BRAM BOARD MEMBER 1.00 X 0 0 0 LAUDIES BRANTLEY BOARD MEMBER 1.00 X 0 0 0 JAMES BROOKS BOARD MEMBER 1.00 X 0 0 0 CARL BROWN JR BOARD MEMBER 1.00 X 0 0 0 JAMES BROWN BOARD MEMBER 1.00 X 0 0 0 CLAUDE BUNDRICK BOARD MEMBER 1.00 X 0 0 0 TIM BURCH BOARD MEMBER 1.00 X 0 0 0 JOE BURNS BOARD MEMBER 1.00 X 0 0 0 STEVEN CLAY BOARD MEMBER 1.00 X 0 0 0 DANNY CLAYTON BOARD MEMBER 1.00 X 0 0 0 RONALD COLEY BOARD MEMBER 1.00 X 0 0 0 JASON CONDREY BOARD MEMBER 1.00 X 0 0 0 KEITH CORZINE BOARD MEMBER 1.00 X 0 0 0 KEVIN CRAFT BOARD MEMBER 1.00 X 0 0 0 JOHNNY CRAWFORD BOARD MEMBER 1.00 X 0 0 0 JOHN CROMLEY BOARD MEMBER 1.00 X 0 0 0 JERRY DAVIS BOARD MEMBER 1.00 X 0 0 0 WADE DEERMAN BOARD MEMBER 1.00 X 0 0 0 JABY DENTON BOARD MEMBER 1.00 X 0 0 0 STEVEN DROKE BOARD MEMBER 1.00 X 0 0 0 DAVID DUNLOW BOARD MEMBER 1.00 X 0 0 0 PHILIP EDWARDS III BOARD MEMBER 1.00 X 0 0 0 ROBERT ENGLERT BOARD MEMBER 1.00 X 0 0 0 RICHARD FELTON BOARD MEMBER 1.00 X 0 0 0 SCOTT FULLEN BOARD MEMBER 1.00 X 0 0 0 KENDALL GARRAWAY BOARD MEMBER 1.00 X 0 0 0 JAMES GAY BOARD MEMBER 1.00 X 0 0 0 RONNIE GERIK BOARD MEMBER 1.00 X 0 0 0 KENNETH GINGG BOARD MEMBER 1.00 X 0 0 0 BURGES GRIFFIN SECRETARY 1.00 X X 0 0 0 WILLIAM HADDOCK III BOARD MEMBER 1.00 X 0 0 0 DAHLEN HANCOCK BOARD MEMBER 1.00 X 0 0 0 JON HARDWICK VICE CHAIRMAN 1.00 X X 0 0 0 MYRON HAWES BOARD MEMBER 1.00 X 0 0 0 CHARLES HEFFINGTON BOARD MEMBER 1.00 X 0 0 0 CRAIG HEINRICH BOARD MEMBER 1.00 X 0 0 0 EDDY HERM BOARD MEMBER 1.00 X 0 0 0 GERALD HILBERS BOARD MEMBER 1.00 X 0 0 0 MIKE HUGHES BOARD MEMBER 1.00 X 0 0 0 ROBERT HULL BOARD MEMBER 1.00 X 0 0 0 JEFF HUX BOARD MEMBER 1.00 X 0 0 0 NEAL ISBELL BOARD MEMBER 1.00 X 0 0 0 BERNARD JORDAN JR BOARD MEMBER 1.00 X 0 0 0 DANFORD JOSEY III BOARD MEMBER 1.00 X 0 0 0 GEORGE KING BOARD MEMBER 1.00 X 0 0 0 JOHN KING BOARD MEMBER 1.00 X 0 0 0 DONNY LASSITER BOARD MEMBER 1.00 X 0 0 0 CHUCK LEE BOARD MEMBER 1.00 X 0 0 0 RONALD LEE BOARD MEMBER 1.00 X 0 0 0 JOHN LINDAMOOD BOARD MEMBER 1.00 X 0 0 0 STEPHEN LOGAN BOARD MEMBER 1.00 X 0 0 0 FRANK LYONS BOARD MEMBER 1.00 X 0 0 0 SHERMAN MARSH BOARD MEMBER 1.00 X 0 0 0 JAMES MASSEY BOARD MEMBER 1.00 X 0 0 0 HAROLD MAY BOARD MEMBER 1.00 X 0 0 0 GREGG MAYBERRY BOARD MEMBER 1.00 X 0 0 0 JAMES MCGOUGAN BOARD MEMBER 1.00 X 0 0 0 WELDON MELTON BOARD MEMBER 1.00 X 0 0 0 PETER MICHAEL BOARD MEMBER 1.00 X 0 0 0 BRADY MIMMS BOARD MEMBER 1.00 X 0 0 0 TRAVIS MIRES BOARD MEMBER 1.00 X 0 0 0 PERCY MORRIS BOARD MEMBER 1.00 X 0 0 0 DANNIE MORRIS BOARD MEMBER 1.00 X 0 0 0 BRENT NELSON BOARD MEMBER 1.00 X 0 0 0 MARSHALL NEWTON BOARD MEMBER 1.00 X 0 0 0 JESS NICHOLS BOARD MEMBER 1.00 X 0 0 0 HERRICK NORCROSS III BOARD MEMBER 1.00 X 0 0 0 JOHN OLSON III BOARD MEMBER 1.00 X 0 0 0 NORMAN OWEN BOARD MEMBER 1.00 X 0 0 0 LEON PARKER BOARD MEMBER 1.00 X 0 0 0 MILTON PARRISH BOARD MEMBER 1.00 X 0 0 0 MICHAEL PATSCHKE BOARD MEMBER 1.00 X 0 0 0 HARRY PATTON III BOARD MEMBER 1.00 X 0 0 0 DAVID PEARSON BOARD MEMBER 1.00 X 0 0 0 SCHLEY PERRY JR BOARD MEMBER 1.00 X 0 0 0 GLEN PHIPPS BOARD MEMBER 1.00 X 0 0 0 TERRY POLLARD BOARD MEMBER 1.00 X 0 0 0 DIANN PRECHEL BOARD MEMBER 1.00 X 0 0 0 CHARLES PROVANCE JR BOARD MEMBER 1.00 X 0 0 0 BERNARD PUSTEJOVSKY BOARD MEMBER 1.00 X 0 0 0 DARRYL QUIGLEY BOARD MEMBER 1.00 X 0 0 0 NATHAN REED BOARD MEMBER 1.00 X 0 0 0 JOHNIE REED BOARD MEMBER 1.00 X 0 0 0 DANNY ROBBINS BOARD MEMBER 1.00 X 0 0 0 WILLIAM ROBERTSON JR BOARD MEMBER 1.00 X 0 0 0 BRIAN ROBINSON BOARD MEMBER 1.00 X 0 0 0 LARRY SAYES BOARD MEMBER 1.00 X 0 0 0 HARRY SCHROEDER BOARD MEMBER 1.00 X 0 0 0 ERIC SEIDENBERGER BOARD MEMBER 1.00 X 0 0 0 CLYDE SHARP BOARD MEMBER 1.00 X 0 0 0 TED SHEELY BOARD MEMBER 1.00 X 0 0 0 SAMUEL SIMMONS BOARD MEMBER 1.00 X 0 0 0 RICHARD SLADE BOARD MEMBER 1.00 X 0 0 0 STEVE SOSSAMAN BOARD MEMBER 1.00 X 0 0 0 SAM SPARKS BOARD MEMBER 1.00 X 0 0 0 AL SPINKS BOARD MEMBER 1.00 X 0 0 0 SAM SPRUELL BOARD MEMBER 1.00 X 0 0 0 LAWRENCE STARRH BOARD MEMBER 1.00 X 0 0 0 CB STEVENS BOARD MEMBER 1.00 X 0 0 0 EARL STILES BOARD MEMBER 1.00 X 0 0 0 MARTIN STOERNER BOARD MEMBER 1.00 X 0 0 0 WARREN SULLIVAN BOARD MEMBER 1.00 X 0 0 0 GUY TEETER BOARD MEMBER 1.00 X 0 0 0 CRAIG THARP BOARD MEMBER 1.00 X 0 0 0 GARY TIDWELL BOARD MEMBER 1.00 X 0 0 0 PHIL VANDIVER BOARD MEMBER 1.00 X 0 0 0 MICHAEL VAUGHN BOARD MEMBER 1.00 X 0 0 0 ROBERT WALKER BOARD MEMBER 1.00 X 0 0 0 MARK WATTE TREASURER 1.00 X X 0 0 0 WILLIAM WEAVER BOARD MEMBER 1.00 X 0 0 0 JAMES WEBB BOARD MEMBER 1.00 X 0 0 0 STEPHEN WILBUR BOARD MEMBER 1.00 X 0 0 0 DONNA WINTERS BOARD MEMBER 1.00 X 0 0 0 RONALD WOODS BOARD MEMBER 1.00 X 0 0 0 FARRIS WREN JR BOARD MEMBER 1.00 X 0 0 0 JULIUS WORSHAM PRESIDENT AND CEO 40.00 X 435194 0 101220 DAVID BYRD SR. VP AND CFO 40.00 X 193844 0 58411 JOHN MORGANS VP ADMINISTRATION 40.00 X 141219 0 44068 KATER HAKE VP AGRICULTURE 40.00 X 215112 0 65636 RICHMOND HENDEE SR. VP CONSUMER MKTG. 40.00 X 214817 0 62685 MARK MESSURA EX.VP GLOBAL PROD.SUPPLY CHAIN 40.00 X 222278 0 57695 DEAN TURNER SR.VP GLOBAL PROD.SUPPLY CHAIN 40.00 X 211605 0 51651 MICHAEL WATSON VP FIBER COMPETITION 40.00 X 166854 0 48295 MICHAEL TYNDALL VP PROD DEV & IMPLEM. 40.00 X 154050 0 37533 PAULA ROSARIO VP STRATEGIC SERVICES 40.00 X 134814 0 40279 PATRICIA O'LEARY SR. DIR. ARGRIC. RESEARCH 40.00 X 141466 0 34215 HUGH MALONE FORMER X 120808 0 25226 DON BAILEY FORMER X 116121 0 0 2468182 0 626914 26 1 1 0 ROCCO SIAMACCO JR 201 SANTA ANNA DR MOON TOWNSHIP PA 15108 GRAPHIC DESIGN SERVICES 226609 GMR MARKETING LLC 1821 SOLUTIONS CENTER CHICAGO IL 60677 MARKETING CONSULTANT 155030 ERNST & YOUNG LLP PO BOX 933514 ATLANTA GA 31193 AUDIT SERVICES 128975 ANDREA SAMBER 17004 BRIDGETON LANE HUNTERSVILLE NC 28078 STRATEGIC ALLIANCES CONSULTANT 120375 DON BAILEY 7620 ROCK QUARRY RD RALEIGH NC 27610 IMPORTER SUPPORT CONSULTANT 116121 5 66032153 66032153 66032153 0 0 0 1720439 9883576 2669164 1767026 747123 2511176 307029 101339 2322148 18972651 841469 642832 1833695 2429525 2094731 9032 1006606 258078 RESEARCH AND PROMOTION 12699462 MAINTENANCE 941373 SPONSORSHIP 326386 2449745 66534605 3596 3764 11093389 8470570 530605 837944 808116 844003 16394839 13625258 2885156 2769581 15320862 12925862 12538645 10288488 380633 294036 3745788 4189994 16665066 14772518 X -1344204 -1846656 -1344204 -1846656 15320862 12925862 -502452 0 X X 0 1 1 X 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1195802 598373 597429 11108752 9770685 1338067 4090285 3256200 834085 2769581 CAPITAL LEASE PAYABLE 75617 ACCRUED PENSION COST 4114377 4189994 66032153 66534605 -502452 0 -502452 68033329 2001176 2001176 66032153 0 66032153 68535781 2001176 2001176 66534605 0 66534605 NORTH AMERICA 1 2 PROGRAM SERVICES TECHNICAL AND INFORMATION SUPPORT 728882 EAST ASIA AND THE PACIFIC 3 15 PROGRAM SERVICES TECHNICAL AND INFORMATION SUPPORT 4400359 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES TECHNICAL AND INFORMATION SUPPORT 789915 17 0 17 5919156 0 5919156 0 0 0 0 0 0 X X X 1 0 0 JULIUS WORSHAM 430500 0 0 0 4694 0 80186 0 21034 0 536414 0 0 0 DAVID BYRD 189000 0 0 0 4844 0 36731 0 21680 0 252255 0 0 0 JOHN MORGANS 138240 0 0 0 2979 0 20773 0 23295 0 185287 0 0 0 KATER HAKE 207000 0 0 0 8112 0 46571 0 19065 0 280748 0 0 0 RICHMOND HENDEE 203625 0 0 0 11192 0 45459 0 17226 0 277502 0 0 0 MARK MESSURA 216500 0 0 0 5778 0 38299 0 19396 0 279973 0 0 0 DEAN TURNER 58975 0 0 0 152630 0 14309 0 37342 0 263256 0 0 0 MICHAEL WATSON 160500 0 0 0 6354 0 29483 0 18812 0 215149 0 0 0 MICHAEL TYNDALL 146720 0 0 0 7330 0 28852 0 8681 0 191583 0 0 0 PAULA ROSARIO 133110 0 0 0 1704 0 25944 0 14335 0 175093 0 0 0 PATRICIA O'LEARY 137700 0 0 0 3766 0 29876 0 4339 0 175681 0 0 0 HUGH MALONE 0 0 0 0 120808 0 0 0 25226 0 146034 0 0 0 DON BAILEY 116121 0 0 0 0 0 0 0 0 0 116121 0 0 0 PART I, LINE 4A HUGH MALONE RECEIVED SEVERANCE PAYMENT IN AMOUNT OF $120,808. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED IN DETAIL WITH THE COMPANY'S AUDIT COMMITTEE AFTER COMPLETION AT THE AUGUST BOARD OF DIRECTOR'S MEETING FOR APPROVAL PRIOR TO FILING. SUBSEQUENT TO REVIEW, THE CHAIRMAN OF THE AUDIT COMMITTEE WILL INFORM THE COMPLETE BOARD OF DIRECTOR'S OF THE PROCEEDINGS AND OUTCOME. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS ARE REQUIRED TO ATTEST THAT THEY ARE FREE OF ANY CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 AN INDEPENDENT COMPENSATION COMMITTEE DETERMINES COMPENSATION FOR ALL EMPLOYEES OF THE COMPANY. MINUTES OF THEIR MEETINGS ARE MAINTAINED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST BY AN APPROPRIATE PARTY. OVERSIGHT OF AUDIT FORM 990, PART XI, LINE 2C THERE HAVE BEEN NO CHANGES DURING THE YEAR IN THE PROCESS FOR OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS.