1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE - --- ACT OF 1934 [FEE REQUIRED] for the fiscal year ended October 29, 1995 ---------------- OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from __________ to __________ Commission file number 0-7977 ------ NORDSON CORPORATION ------------------------------------------------------ (Exact name of registrant as specified in its charter) Ohio 34-0590250 ------------------------ ------------------------------------ (State of incorporation) (I.R.S. Employer Identification No.) 28601 Clemens Road, Westlake, Ohio 44145 (216) 892-1580 - ---------------------------------------- --------- ------------------ (Address of principal executive offices) (Zip Code) (Telephone Number) Securities registered pursuant to Section 12(b) of the Act: None ---- Securities registered pursuant to Section 12(g) of the Act: Common Shares with no par value ------------------------------- Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No --- --- Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. X --- State the aggregate market value of the voting stock held by nonaffiliates of the Registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of a specified date within 60 days prior to the date of filing. $745,989,000 AS OF DECEMBER 31, 1995 Indicate the number of shares outstanding of each of the Registrant's classes of common stock, as of the latest practicable date. 17,948,183 COMMON SHARES AS OF DECEMBER 31, 1995 Documents incorporated by reference: list the following documents if incorporated by reference and the part of the Form 10-K into which the document is incorporated: (1) any annual report to security holders; (2) any proxy or information statement; and (3) any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. PORTIONS OF THE 1995 ANNUAL REPORT - PARTS I, II AND IV PORTIONS OF THE PROXY STATEMENT FOR THE 1996 ANNUAL MEETING - PART III 1
2 PART I ------ Item 1. Business. - ------ -------- GENERAL DEVELOPMENT OF BUSINESS ------------------------------- General Description of Business - ------------------------------- Founded in 1954, Nordson Corporation is a multi-national company that designs, manufactures and markets systems that apply adhesives, sealants and liquid and powder coatings to consumer and industrial products during manufacturing. Nordson's industrial application systems are used, for example, to seal cartons and cases, assemble furniture, spray protective finishes on automobiles, apply liquid and powder paints to appliances, and coat the interiors of food and beverage containers. Headquartered in Westlake, Ohio, Nordson markets its products worldwide through four sales divisions -- North America, Europe, Japan, and Pacific South. These organizations are comprised of a network of 36 direct operations, each managed by local personnel who understand their markets and cultures. Sixty percent of the Company's 1995 revenues were generated outside the United States. Corporate Purpose and Strategies - -------------------------------- Nordson strives to be a vital, self-renewing, worldwide organization which, within the framework of ethical behavior and enlightened citizenship, grows and produces wealth for its customers, employees, shareholders, and communities. The Company operates to create balanced, long-term benefits for all of these constituencies. Growth is achieved by seizing opportunities to sell existing products for new applications and markets, developing new products and technologies to serve growth markets, and investing in systems to maximize internal productivity. These strategies are augmented through the acquisition of businesses that can serve multi-national industrial markets. Nordson creates benefits for customers through a Package of Values(TM), which include carefully engineered, durable products; strong service support; backing of a worldwide company with financial and technical strength; and a corporate commitment to deliver what was promised. Nordson highly regards employee contribution toward the Company's goals and, therefore, strives to provide employees with opportunities for self-fulfillment, growth, security, recognition and equitable compensation. Commitment to the community is a vital part of Nordson's overall business strategy and is considered essential to the Company's long-term success. As a corporate citizen, Nordson contributes an average of 5 percent of domestic pretax earnings for charitable purposes in the communities where it operates and draws its employees. 2
3 FINANCIAL INFORMATION ABOUT INDUSTRY SEGMENT, --------------------------------------------- FOREIGN AND DOMESTIC OPERATIONS, AND EXPORT SALES ------------------------------------------------- In accordance with Statement of Financial Accounting Standards No. 14, "Financial Reporting for Segments of a Business Enterprise", Nordson has reported information about the Company's single industry segment, its geographic operations and its export sales. This information is contained in Note 14 (page 34) of the 1995 Annual Report, incorporated herein by reference thereto. NARRATIVE DESCRIPTION OF BUSINESS --------------------------------- Principal Products and Uses - --------------------------- Nordson offers a full range of equipment that moves and dispenses liquid and powder coatings, adhesives and sealants, as well as many high- performance compounds. Equipment ranges from manual, stand-alone units for low-volume operations to microprocessor-based automated systems for high-speed, high-volume production lines. The Company's various products and examples of their uses, arranged by the businesses which they serve, are as follows: Packaging - Automated hot melt adhesive dispensing systems for sealing corrugated cases and paperboard cartons, applying product labels and stabilizing pallets in the food, beverage, agriculture, cosmetics, and pharmaceuticals industries. Product Assembly - Adhesive and sealant dispensing systems for bonding or sealing plastic, metal and wood products in the appliance, automotive, book binding, building/construction, cosmetics, electronics, furniture, and telecommunications industries. Nonwovens - Automated equipment for applying adhesives, super-absorbent powders, liquids and fibers to assemble baby diapers, child training pants, feminine hygiene products, and adult incontinence products. Converting - Coating and laminating systems used to manufacture continuous roll goods such as specialty label stocks, back coated textiles, medical disposables, and automotive body cloth. Advanced Gasketing - Custom engineered systems for automatically dispensing foamed adhesives and sealants to make form-in-place gaskets for automotive components, appliances, construction products, electrical enclosures and large containers. Powder Coating - Electrostatic spray systems for applying powder paints and coatings to appliances, automotive components, metal office furniture/storage shelving, electrical transformers, and recreational equipment. Liquid Finishing - Electrostatic spray systems for applying liquid paints and coatings to plastic, metal and wood products such as furniture, kitchen and bath cabinets, doors and frames, pipes and tubing, and automotive components. 3
4 Automotive - Liquid and powder finishing systems for spraying primers, anti-chip coatings, basecoats and clearcoats to body panels; adhesive and sealant dispensing systems for bonding glass, body panels and structural components in automobiles. Container Coating - Automated equipment and systems for applying and curing liquid and powder coatings to the interiors and ends of metal containers in the food and beverage industries. Electronics - Automated equipment for applying protective conformal coating, solder flux and adhesive materials to printed circuit boards and electronic assemblies in the appliance, automotive, avionics, defense, electrical/ electronics, and telecommunications industries. Nordson markets its products in the United States and fifty-one other countries, primarily through a direct sales force, and in eleven countries through qualified distributors. Nordson has built a worldwide reputation for its creativity and expertise in the design and engineering of high-technology application equipment which meets the specific needs of its customers. Manufacturing and Raw Materials - ------------------------------- Nordson's production operations include machining and assembly. The Company finishes specially designed parts and assembles components into finished equipment. Many components are made in standard modules that can be used in more than one product or in combination with other components for a variety of models. The Company has manufacturing operations in Amherst and Elyria, Ohio; Norcross, Georgia; Sand City, California; Branford, Connecticut; Luneburg, Germany; Udenhout, The Netherlands; and Stenungsund, Sweden. Principal materials used to make Nordson products are metals and plastics, typically in sheets, bar stock, castings, forgings, and tubing. Nordson also purchases many electrical and electronic components, fabricated metal parts, high-pressure fluid hoses, packings, seals and other items integral to its products. Suppliers are competitively selected based on cost and quality. Virtually all raw materials Nordson uses are available through multiple sources. An extensive quality control program for Nordson equipment, machinery and systems is supervised by Nordson's vice president of manufacturing. Natural gas and other fuels are primary energy sources for Nordson. However, standby capacity for alternative sources is available if needed. Patents and Trademarks - ---------------------- The Company maintains procedures to protect patents and trademarks both domestically and internationally. However, Nordson's business is not materially dependent upon any one or more of the patents, or on patent protection in general. 4
5 Seasonal Variation in Business - ------------------------------ There is no significant seasonal variation in the Company's business. Working Capital Practices - ------------------------- No special or unusual practices affect Nordson's working capital. However, the Company generally requires substantial advance payments as deposits on customized equipment and systems and, in certain cases, requires progress payments during the manufacturing of these products. The Company maintains a relatively high investment in inventory to ensure products are available to customers when ordered. This investment reflects Nordson's commitment to customer service, part of its Package of Values(TM). Customers - --------- The Company serves a broad customer base, both in terms of industries and geographic regions. The loss of a single or few customers would not have a material adverse effect on the Company's business. In 1995, no single customer accounted for 5 percent or more of sales. Backlog - ------- The Company's backlog of orders has increased to $64,101,000 at October 29, 1995 from $46,169,000 at October 30, 1994. All orders in the October 1995 backlog are expected to be shipped to customers in fiscal 1996. Government Contracts - -------------------- Nordson's business neither includes nor depends upon a significant amount of governmental contracts or sub-contracts. Therefore, no material part of the Company's business is subject to renegotiation or termination at the option of the government. Competitive Conditions - ---------------------- Nordson equipment is sold in competition with a wide variety of alternative bonding, sealing, caulking, finishing and coating techniques. Any production process that requires the application of material to a substrate or surface is a potential use for Nordson equipment. Nordson enjoys a leadership position in the competitive industrial application systems business by delivering high-quality, innovative products and technologies, as well as after-the-sale service and technical support. Working with customers to understand their processes and developing the application solutions that help them meet their production requirements also contributes to Nordson's leadership position. Nordson products help customers improve productivity, reduce raw material and energy consumption, lower maintenance costs, improve environmental conditions, and produce better performing finished products. Nordson's worldwide network of direct sales and technical resources also is a competitive advantage. Risk factors associated with Nordson's competitive position include the development and commercial acceptance of alternative processes or materials and the growth of local competitors serving specific markets. 5
6 Research and Development - ------------------------ Investments in research and development are important to Nordson's long-term growth because they enable the Company to keep pace with changing customer and marketplace needs, and they help to sustain sales improvements year after year. The Company places strong emphasis on technology developments and improvements through its internal engineering and research teams. Research and development expenses were approximately $28,866,000 in fiscal 1995, compared with approximately $24,434,000 in fiscal 1994 and $20,521,000 in fiscal 1993. As a percentage of sales, these investments were approximately 5.0 percent in fiscal 1995, 4.8 percent in fiscal 1994, and 4.4 percent for fiscal 1993. Environmental Compliance - ------------------------ Compliance with federal, state and local environmental protection laws during fiscal 1995 had no material effect on the Company's capital expenditures, earnings, or competitive position. The Company also does not anticipate a material effect in 1996. Employees - --------- As of October 29, 1995, Nordson had approximately 3,470 employees, including all full-time and part-time employees. 6
7 Item 2. Properties. - ------ ---------- The following table summarizes the principal properties of the Company. <TABLE> <CAPTION> Description Approximate Location of Property Square Feet - -------- ----------- ----------- <S> <C> <C> Amherst, Ohio A manufacturing, laboratory 585,000 and office complex located on 52 acres of land Westlake, Ohio An office and laboratory 68,000 building located on 25 acres of land Elyria, Ohio A manufacturing and warehouse 20,000 building Norcross, Georgia A manufacturing, laboratory 150,000 and office building located on 10 acres of land A manufacturing and office 27,000 building (leased) Duluth, Georgia An office and laboratory 108,000 building (leased) Branford, A manufacturing and office 47,000 Connecticut building (leased) Sand City, A manufacturing, laboratory 35,000 California and office building (leased) Luneburg, A manufacturing, laboratory 130,000 Germany and office complex Erkrath, An office, laboratory and 63,000 Germany warehouse building (leased) St. Thibault Des An office building (leased) 45,000 Vignes, France Milano, Italy An office, laboratory and 44,000 warehouse building (leased) </TABLE> 7
8 <TABLE> <CAPTION> Description Approximate Location of Property Square Feet - -------- ----------- ----------- <S> <C> <C> Tokyo, Japan An office, laboratory and 34,000 warehouse building (leased) Albertslund, An office and warehouse 18,000 Denmark building Stenungsund, A manufacturing and office 15,000 Sweden building Udenhout, The A manufacturing and office 9,000 Netherlands building </TABLE> Several of these properties are pledged as security for industrial revenue bonds and mortgage notes payable. Other properties at international subsidiary locations and at branch locations within the United States are leased. Lease terms do not exceed twenty-five years and generally contain a provision for cancellation with some penalty at an earlier date. In addition, the Company leases equipment under various operating and capitalized leases. Information about leases is reported in Note 7 of Notes to Consolidated Financial Statements on page 29 of the 1995 Annual Report, incorporated herein by reference thereto. Item 3. Legal Proceedings. - ------ ----------------- The Company is involved in legal proceedings incidental to its business, none of which is material to the results of operations in the opinion of management. Item 4. Submission of Matters to a Vote of Security Holders. - ------ --------------------------------------------------- None. 8
9 Executive Officers of the Company. - --------------------------------- The executive officers of the Company as of December 31, 1995 were as follows: <TABLE> <CAPTION> Served Position or Office With As The Company and Business Officer Experience During the Past Name Since Five (5) Year Period - ----------------------- ------- ------------------------------- <S> <C> <C> Eric T. Nord 1954 Chairman of the Board, 1973. Age, 78 William P. Madar 1986 President and Chief Executive Age, 56 Officer, 1986. Edward P. Campbell 1988 Executive Vice President & Chief Age, 46 Operating Officer, 1994. Vice President, 1988. John E. Jackson 1986 Senior Vice President, 1994. Age, 50 Vice President-Operations, 1986. Christian C. Bernadotte 1994 Vice President, 1994. Age, 46 General Manager-Packaging and Product Assembly, 1986. Drexel R. Bunch 1986 Vice President, Manufacturing, 1986. Age, 51 Raymond L. Cushing 1995 Treasurer, 1995. Age, 41 Assistant Treasurer, 1990. Bruce H. Fields 1992 Vice President, Human Resources, 1992. Age, 44 Director, Human Resources, 1989. William D. Ginn 1966 Secretary, 1966. Age, 72 Michael Groos 1995 Vice President, 1995. Age, 44 General Manager, Central Region, European Division, 1990. Dr. Richard G. Klein 1986 Vice President, Corporate Research Age, 53 & Technology, 1986. </TABLE> 9
10 <TABLE> <CAPTION> Served Position or Office With As The Company and Business Officer Experience During the Past Name Since Five (5) Year Period - ----------------------- ------- ------------------------------- <S> <C> <C> Donald J. McLane 1986 Vice President, 1986. Age, 52 Yoshihiko Miyahara 1989 Vice President, 1989. Age, 58 Thomas L. Moorhead 1981 Vice President, Law and Assistant Age, 59 Secretary, 1981. Nicholas D. Pellecchia 1986 Vice President, Finance and Age, 50 Controller, 1986. Robert E. Thayer 1978 Vice President, 1978. Age, 64 </TABLE> Messrs. Eric T. Nord and Evan W. Nord (director and retired officer) are brothers. No other directors and officers are related. 10
11 PART II Item 5. Market for the Company's Common Equity and Related Stockholder - ------ -------------------------------------------------------------- Matters. ------- Market Information and Dividends. - -------------------------------- The Company's common shares are listed on the NASDAQ National Market System. The information appearing under the captions "Dividend Information and Price Range per Common Shares" and "Stock Listing Information" on page 40 of the 1995 Annual Report is incorporated herein by reference thereto. Holders. - ------- The approximate number of holders of record of each class of equity securities of the Company as of December 31, 1995 was as follows: <TABLE> <S> <C> Number of Title of Class Record Holders -------------- -------------- Common shares with no 2,984 par value </TABLE> Item 6. Selected Financial Data. - ------ ----------------------- The Company incorporates herein by reference the information as to each of the Company's last five fiscal years appearing under the caption "Eleven-Year Summary" on pages 36 and 37 of the 1995 Annual Report. Item 7. Management's Discussion and Analysis of Financial Condition and - ------ --------------------------------------------------------------- Results of Operations. --------------------- The Company incorporates herein by reference the information appearing under the caption "Management's Discussion and Analysis" on pages 18 through 20 of the 1995 Annual Report. Item 8. Financial Statements and Supplementary Data. - ------ ------------------------------------------- The information required by this item appears on pages 21 through 35 of the 1995 Annual Report, incorporated herein by reference thereto. Item 9. Changes In and Disagreements With Accountants on Accounting - ------ ----------------------------------------------------------- and Financial Disclosure. ------------------------ None. 11
12 PART III -------- Item 10. Directors and Executive Officers of the Company. - ------- ----------------------------------------------- The Company incorporates herein by reference the information appearing under the caption "Election of Directors" on pages 1 through 3 of the Company's definitive Proxy Statement to be filed with the Securities and Exchange Commission by January 31, 1996. Executive officers of the Company serve for a term of one year from date of election to the next organizational meeting of the Board of Directors and until their respective successors are elected and qualified, except in the case of death, resignation or removal. Information concerning executive officers of the Company is contained in Part I of this report under the caption "Executive Officers of the Company." Item 11. Executive Compensation. - ------- ---------------------- The Company incorporates herein by reference the information appearing under the caption "Compensation of Directors" located on page 5, and information pertaining to compensation of officers located on pages 8 through 19 of the Company's definitive Proxy Statement to be filed with the Securities and Exchange Commission by January 31, 1996. Item 12. Security Ownership of Certain Beneficial Owners and - ------- --------------------------------------------------- Management. ---------- The Company incorporates herein by reference the information appearing under the caption "Ownership of Nordson Common Shares" on pages 6 through 8 of the Company's definitive Proxy Statement to be filed with the Securities and Exchange Commission by January 31, 1996. Item 13. Certain Relationships and Related Transactions. - ------- ---------------------------------------------- William D. Ginn, a director and Secretary of the Company, is Of Counsel to Thompson Hine & Flory P.L.L., a law firm which has in the past provided and continues to provide legal services to the Company. 12
13 PART IV ------- Item 14. Exhibits, Financial Statement Schedules and Reports on - ------- ------------------------------------------------------ Form 8-K. -------- (a)(1). Financial Statements. -------------------- The financial statements listed in the accompanying index to financial statements are filed as part of this Annual Report on Form 10-K. (a)(2) and (d). Financial Statement Schedules. ----------------------------- No consolidated financial statement schedules are presented because the schedules are not required, because the required information is not present or not present in amounts sufficient to require submission of the schedule, or because the information required is included in the financial statements, including the notes thereto. (a)(3) and (c). Exhibits. -------- The exhibits listed on the accompanying index to exhibits are filed as part of this Annual Report on Form 10-K. (b). Reports on Form 8-K. ------------------- None. SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. NORDSON CORPORATION Date: January 26, 1996 By: /s/ Nicholas D. Pellecchia ----------------------------------- Nicholas D. Pellecchia Vice President, Finance and Controller 13
14 Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated. <TABLE> <S> <C> /s/ Eric T. Nord January 26, 1996 - ----------------------------- Eric T. Nord Director and Chairman of the Board /s/ William P. Madar January 26, 1996 - ---------------------------- William P. Madar Director, President and Chief Executive Officer (Principal Executive Officer) /s/ Nicholas D. Pellecchia January 26, 1996 - ---------------------------- Nicholas D. Pellecchia Vice President-Finance and Controller (Principal Accounting Officer and Principal Financial Officer) /s/ William D. Ginn January 26, 1996 - ---------------------------- William D. Ginn Director and Secretary /s/ Dr. Glenn R. Brown January 26, 1996 - ---------------------------- Dr. Glenn R. Brown Director /s/ William W. Colville January 26, 1996 - ---------------------------- William W. Colville Director /s/ Stephen R. Hardis January 26, 1996 - ---------------------------- Stephen R. Hardis Director /s/ Evan W. Nord January 26, 1996 - ---------------------------- Evan W. Nord Director /s/ William L. Robinson January 26, 1996 - ------------------------ William L. Robinson Director </TABLE> 14
15 NORDSON CORPORATION ANNUAL REPORT ON FORM 10-K ITEM 14(a)(1) and (3), and (c) INDEX TO FINANCIAL STATEMENTS INDEX TO EXHIBITS CERTAIN EXHIBITS FISCAL YEAR ENDED OCTOBER 29, 1995 15
16 NORDSON CORPORATION INDEX TO FINANCIAL STATEMENTS (Item 14(a)(1)) <TABLE> <CAPTION> Page Reference -------------- <S> <C> Data incorporated by reference from the 1995 Annual Report: Consolidated statement of income for the years ended October 29, 1995, October 30, 1994 and October 31, 1993 21 Consolidated balance sheet as of October 29, 1995 and October 30, 1994 22 Consolidated statement of cash flows for the years ended October 29, 1995, October 30, 1994 and October 31, 1993 23 Consolidated statement of shareholders' equity for the years ended October 29, 1995, October 30, 1994 and October 31, 1993 24 Notes to consolidated financial statements 25-35 Report of independent auditors 35 </TABLE> The consolidated financial statements of the Registrant listed in the preceding index, which are included in the 1995 Annual Report, are incorporated herein by reference. With the exception of the pages listed in the above index and information incorporated by reference elsewhere herein, the 1995 Annual Report is not to be deemed filed as part of this report. 16
17 NORDSON CORPORATION INDEX TO EXHIBITS (Item 14(a)(3)) <TABLE> <CAPTION> Exhibit Number Description - ------- ----------- <S> <C> (3) Articles of Incorporation and By-Laws 3-a 1989 Amended Articles of Incorporation (incorporated herein by reference to Exhibit 3-a to Registrant's Annual Report on Form 10-K for the year ended October 30, 1994) 3-b Amendment to 1984 Regulations, adopted February 22, 1989, and 1984 Amended Regulations, as amended (incorporated herein by reference to Exhibit 3-b to Registrant's Annual Report on Form 10-K for the year ended October 30, 1994) (4) Instruments Defining the Rights of Security Holders, including indentures 4-a Instruments related to Industrial Revenue Bonds (These instruments are not being filed as exhibits to this Annual Report on Form 10-K. The Registrant agrees to furnish a copy of such instruments to the Commission upon request.) 4-b Rights Agreement between Nordson Corporation and Ameritrust Company National Association (incorporated herein by reference to Exhibit 4-b to Registrant's Annual Report on Form 10-K for the year ended October 31, 1993) (10) Material Contracts 10-a Nordson Corporation 1995 Management Incentive Compensation Plan (incorporated herein by reference to Appendix A to the Registrant's Proxy Statement filed with the Securities and Exchange Commission January 31, 1995)* 10-a-1 Nordson Corporation 1995 Management Incentive Compensation Plan - Exhibits 2 and 3 10-b 1979 Employees Stock Option Plan of the Registrant, as amended October 27, 1980 (incorporated herein by reference to Exhibit 10-b to Registrant's Annual Report on Form 10-K for the year ended October 30, 1994)* </TABLE> 17
18 NORDSON CORPORATION INDEX TO EXHIBITS (Item 14(a)(3)) <TABLE> <CAPTION> Exhibit Number Description - ------- ----------- <S> <C> 10-b-1 Amendment to 1979 Employees Stock Option Plan of the Registrant, adopted April 20, 1982 (incorporated herein by reference to Exhibit 10-b-1 to Registrant's Annual Report on Form 10-K for the year ended October 30, 1994)* 10-b-2 Amendments to 1979 Employee Stock Option Plan of the Registrant, adopted October 27, 1988 (incorporated herein by reference to Exhibit 10-c-2 to Registrant's Annual Report on Form 10-K for the year ended October 31, 1993)* 10-c 1982 Incentive Stock Option Plan of the Registrant, as adopted January 18, 1982 (incorporated herein by reference to Exhibit 10-c to Registrant's Annual Report on Form 10-K for the year ended October 30, 1994)* 10-c-1 Amendment to 1982 Incentive Stock Option Plan of the Registrant, adopted April 20, 1982 (incorporated herein by reference to Exhibit 10-c-1 to Registrant's Annual Report on Form 10-K for the year ended October 30, 1994)* 10-c-2 Amendments to the 1982 Incentive Stock Option Plan of the Registrant, adopted January 30, 1987 (incorporated herein by reference to Exhibit 10-e-2 to Registrant's Annual Report on Form 10-K for the year ended November 1, 1992)* 10-c-3 Amendment to 1982 Incentive Stock Option Plan of the Registrant, adopted October 27, 1988 (incorporated herein by reference to Exhibit 10-d-3 to Registrant's Annual Report on Form 10-K for the year ended October 31, 1993)* 10-d Employment Agreement between the Registrant and William P. Madar* 10-d-1 Amendment to Employment Agreement between the Registrant and William P. Madar (incorporated herein by reference to Exhibit 10-e-1 to Registrant's Annual Report on Form 10-K for the year ended October 31, 1993)* </TABLE> 18
19 NORDSON CORPORATION INDEX TO EXHIBITS (Item 14(a)(3)) <TABLE> <CAPTION> Exhibit Number Description - ------- ----------- <S> <C> 10-e Board of Directors Deferred Compensation Plan, as amended October 27, 1988 (incorporated herein by reference to Exhibit 10-e to Registrant's Annual Report on Form 10-K for the year ended October 30, 1994)* 10-f Employment Agreement between the Registrant and John E. Jackson (incorporated herein by reference to Exhibit 10-i to Registrant's Annual Report on Form 10-K for the year ended November 3, 1991)* 10-g Indemnity Agreement (incorporated herein by reference to Exhibit 10-j to Registrant's Annual Report on Form 10-K for the year ended November 3, 1991)* 10-h Restated Nordson Corporation Excess Defined Contribution Retirement Plan (incorporated herein by reference to Exhibit 10-k to Registrant's Annual Report on Form 10-K for the year ended November 1, 1992)* 10-h-1 First Amendment to Nordson Corporation Excess Defined Contribution Retirement Plan* 10-h-2 Amendment to Nordson Corporation Excess Defined Contribution Retirement Plan* 10-i Nordson Corporation Excess Defined Benefit Pension Plan (incorporated herein by reference to Exhibit 10-l to Registrant's Annual Report on Form 10-K for the year ended November 1, 1992)* 10-i-1 First Amendment to Nordson Corporation Excess Defined Benefit Pension Plan* 10-i-2 Second Amendment to Nordson Corporation Excess Defined Benefit Retirement Plan* 10-j Officers' Deferred Compensation Plan (incorporated herein by reference to Exhibit 10-m to Registrant's Annual Report on Form 10-K for the year ended November 1, 1992)* 10-k Employment Agreement between the Registrant and Edward P. Campbell (incorporated herein by reference to Exhibit 10-l to Registrant's Annual Report on Form 10-K for the year ended October 31, 1993)* </TABLE> 19
20 NORDSON CORPORATION INDEX TO EXHIBITS (Item 14(a)(3)) <TABLE> <CAPTION> Exhibit Number Description - ------- ----------- <S> <C> 10-l 1989 Stock Option Plan, as amended December 20, 1991 (incorporated herein by reference to Exhibit 10-q to Registrant's Annual Report on Form 10-K for the year ended November 3, 1991)* 10-m 1992 Restricted Stock Plan (incorporated herein by reference to Exhibit 10-p to Registrant's Annual Report on Form 10-K for the year ended November 1, 1992)* 10-n Nordson Corporation 1993 Long-Term Performance Plan (incorporated herein by reference to Exhibit 10-q to Registrant's Annual Report on Form 10-K for the year ended November 1, 1992)* 10-o 1988 Amended and Restated Stock Appreciation Rights Plan* (11) Calculation of Earnings per Share (13) Selected portions of the 1995 Annual Report 13-a Management's Discussion and Analysis (pages 18 through 20 of the 1995 Annual Report) 13-b Consolidated Statement of Income (page 21 of the 1995 Annual Report) 13-c Consolidated Balance Sheet (page 22 of the 1995 Annual Report) 13-d Consolidated Statement of Cash Flows (page 23 of the 1995 Annual Report) 13-e Consolidated Statement of Shareholders' Equity (page 24 of the 1995 Annual Report) 13-f Notes to Consolidated Financial Statements (pages 25 through 35 of the 1995 Annual Report) 13-g Report of Independent Auditors (page 35 of the 1995 Annual Report) 13-h Eleven-Year Summary (pages 36 and 37 of the 1995 Annual Report) </TABLE> 20
21 NORDSON CORPORATION INDEX TO EXHIBITS (Item 14(a)(3)) <TABLE> <CAPTION> Exhibit Number Description - ------- ----------- <S> <C> 13-i Shareholder Information (page 40 of the 1995 Annual Report) (21) Subsidiaries of the Registrant (23) Consent of Independent Auditors (27) Financial Data Schedule (99) Additional Exhibits 99-a Form S-8 Undertakings (Nos. 33-32201, 2-82915, 33-18279, 33-20451, 33-20452, 33-18309 and 33-33481) 99-b Form S-8 Undertakings (No. 2-66776) 99-c Annual Report on Form 11-K of the Nordson Employees' Savings Trust Plan for its fiscal year ended December 31, 1995 99-d Annual Report on Form 11-K of the Nordson Hourly-Rated Employees' Savings Trust Plan for its fiscal year ended December 31, 1995 <FN> *Indicates management contract or compensatory plan, contract or arrangement in which one or more directors and/or executive officers of Nordson Corporation may be participants. </TABLE> 21