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     <!-- Project:        I:\CONVER\ny14349.eep                                            -->
     <!-- Control Number: NY14349                                                          -->
     <!-- Rev Number:     Serating                                                         -->
     <!-- Client Name:    Panavision Inc                                                   -->
     <!-- Project Name:   NY14349 - 8-K                                                    -->
     <!-- Firm Name:                                                                       -->
     <TITLE>8-K</TITLE>
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<TD><H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3> UNITED
STATES <BR>SECURITIES AND EXCHANGE COMMISSION</FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>WASHINGTON, D.C. 20549 </FONT></H1></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>FORM 8-K</B></FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>CURRENT REPORT
<BR>Pursuant to Section 13 or 15(d) of the <BR>
Securities Exchange Act of 1934</B>  </FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date
of Report (Date of Earliest Event Reported):&nbsp;&nbsp;&nbsp;April 15, 2005 (April 11, 2005)<!-- DATE --> </FONT></TD></TR>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Panavison Inc.<!-- Name of Registrant --></U></FONT></TD></TR>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Exact Name of Registrant as Specified in Its Charter)</FONT></TD></TR>
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<TD WIDTH="33%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u>Delaware<!-- State--></u></FONT></TD>
<TD WIDTH="34%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u>001-12391<!-- File No.--></u></FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u>13-3593063<!-- Irs No.--></u></FONT></TD>
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<TD ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(State or Other Jurisdiction <BR>of Incorporation)</font></td>
<TD ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(Commission<BR>File Number) </FONT></TD>
<TD ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(IRS Employer<BR> Identification No.) </FONT></TD>
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     <TD WIDTH="70%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">6219 De Soto Avenue<BR>
<U>Woodland Hills, California</U> &nbsp;<!-- ADDRESS --></FONT></TD>
     <TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="20%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;<U>91367</U><!-- ZIP CODE --></FONT></TD></TR>
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     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Address of Principal Executive Offices)</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Zip Code)</FONT></TD></TR>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>(818) 316-1000</U></FONT></TD></TR>

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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Registrant's
Telephone Number, Including Area Code)<!-- TELEPHONE NO. --></FONT></TD></TR>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><!-- FORMER NAME OR ADDRESS --></FONT></TD></TR>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Former Name or Former Address, if Changed Since Last Report) </FONT></TD></TR>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions
(see General Instruction A.2.): </FONT></TD></TR></TABLE><BR>

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<TD WIDTH=4%><font face="wingdings"> &#168; </font></TD>
<TD WIDTH=96%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD>
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<TD WIDTH=96%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD>
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<TD WIDTH=96%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act <BR>(17 CFR
240.14d-2(b)) </FONT></TD>
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 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act <BR>(17 CFR
240.13e-4(c)) </FONT></TD>
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<TD WIDTH=16%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 1.01</FONT></TD>
<TD WIDTH=84%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
        <U>Entry into a Material Definitive Agreement</U>.</FONT></TD>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
         April 11, 2005, the Compensation Committee of the Board of Directors of
Panavision Inc., a Delaware corporation (the &#147;Company&#148;), approved
EBITDA (as defined in the Company&#146;s Amended and Restated Credit Agreement
and subject to certain adjustments) (&#147;EBITDA&#148;) as the financial
performance objective for fiscal 2005 bonuses awarded to the participants in the
Panavision 2003 Executive Incentive Compensation Plan (the &#147;Plan&#148;), including
the Company&#146;s executive officers. If target levels of fiscal 2005 EBITDA
are achieved, Robert L. Beitcher, President and Chief Executive Officer of the
Company, and Bobby G. Jenkins, Executive Vice President and Chief Financial
Officer of the Company, will receive bonuses of 75% and 55%, respectively, of
their base salary. </FONT></TD></TR>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, at the April 11, 2005 meeting, the Compensation Committee awarded a cash bonus
pursuant to the Plan of approximately $10,000 to Mr. Jenkins for fiscal 2004.  </FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURE </FONT></TD></TR>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.  </FONT></TD></TR>
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    <TD WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; <!-- TYPE "DATE:" HERE--> </FONT></TD>
    <TD WIDTH="44%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="48%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">PANAVISION INC.<!-- COMPANY --> </FONT></TD>
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    <TD WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Date: </FONT></TD>
    <TD WIDTH="39%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">April 15, 2005<!-- DATE--> </FONT></TD>
    <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By: </FONT></TD>
    <TD WIDTH="43%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;/s/ &nbsp;Bobby G. Jenkins <!-- NAME --> </FONT></TD>
  </TR>
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    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD>&nbsp; </TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD> <HR NOSHADE SIZE="1"> </TD>
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    <TD WIDTH="57%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Name:&nbsp;</FONT></TD>
    <TD WIDTH="35%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Bobby G. Jenkins <!-- NAME --></FONT></TD>
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  <TR VALIGN="TOP">
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Title:&nbsp;</FONT></TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Executive Vice President and Chief <BR>
Financial Officer<!-- TITLE --></FONT></TD></TR>
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{"company-data": {"conformed-name": "PANAVISION INC", "cik": "0001022911", "assigned-sic": "3861", "irs-number": "133593063", "state-of-incorporation": "DE", "fiscal-year-end": "1204"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-12391", "film-number": "05753557"}, "business-address": {"street1": "6219 DE SOTO AVE", "city": "WOODLAND HILLS", "state": "CA", "zip": "91367", "phone": "8183161000"}}
8-K
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date
of Report (Date of Earliest Event Reported):   April 15, 2005 (April 11, 2005)
Panavison Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
001-12391
13-3593063
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
6219 De Soto Avenue
Woodland Hills, California
91367
(Address of Principal Executive Offices)
(Zip Code)
(818) 316-1000
(Registrant's
Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions
(see General Instruction A.2.):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR
240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR
240.13e-4(c))
Item 1.01
Entry into a Material Definitive Agreement
.
On
         April 11, 2005, the Compensation Committee of the Board of Directors of
Panavision Inc., a Delaware corporation (the "Company"), approved
EBITDA (as defined in the Company's Amended and Restated Credit Agreement
and subject to certain adjustments) ("EBITDA") as the financial
performance objective for fiscal 2005 bonuses awarded to the participants in the
Panavision 2003 Executive Incentive Compensation Plan (the "Plan"), including
the Company's executive officers. If target levels of fiscal 2005 EBITDA
are achieved, Robert L. Beitcher, President and Chief Executive Officer of the
Company, and Bobby G. Jenkins, Executive Vice President and Chief Financial
Officer of the Company, will receive bonuses of 75% and 55%, respectively, of
their base salary.
In
addition, at the April 11, 2005 meeting, the Compensation Committee awarded a cash bonus
pursuant to the Plan of approximately $10,000 to Mr. Jenkins for fiscal 2004.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
PANAVISION INC.
Date:
April 15, 2005
By:
/s/  Bobby G. Jenkins
Name:
Bobby G. Jenkins
Title:
Executive Vice President and Chief
Financial Officer