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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): May 14, 2009</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>FLOWSERVE CORPORATION<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

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    <TD width="32%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>New York</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>1-13179</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>31-0267900</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
</TR>
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    <TD width="49%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>5215 N. O&#146;Connor Blvd., Suite 2300, Irving, Texas<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>75039</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(972) 443-6500</B>


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    <TD nowrap style="border-bottom: 1px solid #000000"><B>N/A<BR></B></TD>
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    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">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:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="justify" style="font-size: 10pt"><B>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.</B>


<P align="justify" style="font-size: 10pt">(b)&nbsp;On May&nbsp;14, 2009, Diane C. Harris retired from her position as a member of the Board of Directors (the &#147;Board&#148;) of
Flowserve Corporation (the &#147;Company&#148;).


<P align="justify" style="font-size: 10pt">(e)&nbsp;On May&nbsp;14, 2009, at the Company&#146;s 2009 Annual Meeting of Shareholders (the &#147;Annual Meeting&#148;), the shareholders of
the Company approved the Flowserve Corporation Equity and Incentive Compensation Plan (the &#147;Plan&#148;) to be effective as
of January&nbsp;1, 2010. 2,900,000 shares of Company common stock are available for award under the Plan, and the Plan
provides for awards in the form of incentive stock options, nonstatutory stock options, restricted stock, restricted
stock units, stock appreciation rights, bonus stock and cash bonus annual incentive awards. The Plan will be
administered by the Organization and Compensation Committee of the Board, which has the discretion and authority to
make awards in any combination of the foregoing forms with vesting and other award provisions to provide incentives
consistent with the purpose of the Plan.


<P align="justify" style="font-size: 10pt; text-indent: 4%">Any Company employee and all outside directors are eligible to participate in the Plan. No single participant may
be granted awards under the Plan in any fiscal year, subject to the attainment of performance goals, relating to more
than 200,000 shares of common stock. There is no restriction in the Plan concerning the number shares that may be
granted under full-value awards under the Plan. Unless earlier terminated by the Board, the Plan will continue in
effect until January&nbsp;1, 2020.


<P align="justify" style="font-size: 10pt; text-indent: 4%">For a more detailed discussion of the terms and conditions of the Plan, please see the description of the Plan set
forth in the Company&#146;s Proxy Statement on Schedule&nbsp;14A relating to the Annual Meeting, filed with the Securities and
Exchange Commission on April&nbsp;3, 2009 (the &#147;Proxy Statement&#148;), under the heading &#147;Proposal Number Two: Approval of the
Adoption of the Flowserve Corporation Equity and Incentive Compensation Plan.&#148; The foregoing description of the Plan
and the description of the Plan contained in the Proxy Statement do not purport to be complete and are qualified in
their entirety by reference to the Plan.


<P align="justify" style="font-size: 10pt"><B>Item&nbsp;8.01 Other Events.</B>


<P align="justify" style="font-size: 10pt; text-indent: 4%">On May&nbsp;14, 2009, the Company issued a press release announcing that the Annual Meeting was held in Irving, Texas.
In addition to announcing Ms.&nbsp;Harris&#146; retirement from the Board and the shareholders&#146; approval of the Plan at the
Annual Meeting described above under Item&nbsp;5.02 of this Current Report on Form 8-K, the press release noted that Roger
L. Fix, Lewis M. Kling and James O. Rollans were all elected by the Company&#146;s shareholders at the Annual Meeting to
serve new terms as members of the Board expiring in 2012. The press release also announced that Kevin E. Sheehan
rotated out of his role as Non-Executive Chairman of the Board and that Mr.&nbsp;Rollans was elected by the Board as its new
Non-Executive Chairman.


<P align="justify" style="font-size: 10pt; text-indent: 4%">A copy of the press release referenced above is included with this Current Report on Form 8-K as Exhibit&nbsp;99.1.


<P align="justify" style="font-size: 10pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>


<P align="justify" style="font-size: 10pt">(d)&nbsp;Exhibits.

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    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>


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<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Flowserve Corporation Equity and Incentive Compensation Plan (incorporated by reference to Appendix&nbsp;A to the Registrant&#146;s Proxy Statement on Schedule&nbsp;14A dated April&nbsp;3, 2009).</TD>
</TR>
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<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release, dated May&nbsp;14, 2009.</TD>
</TR>
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<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="justify" style="font-size: 10pt; text-indent: 4%">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.


<P align="justify" style="font-size: 10pt; margin-left: 48%">FLOWSERVE CORPORATION


<P align="justify" style="font-size: 10pt">Dated: May&nbsp;14, 2009


<P align="justify" style="font-size: 10pt; margin-left: 48%; margin-top: -11pt">By: <U><B>/</B>s/ Ronald F.
Shuff&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
Ronald F. Shuff
<BR>
Senior Vice President, Secretary
and
<BR>
General Counsel

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<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


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    <TD width="8%">&nbsp;</TD>
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<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>


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<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Flowserve Corporation Equity and Incentive Compensation Plan (incorporated by reference to Appendix&nbsp;A to the Registrant&#146;s Proxy Statement on Schedule&nbsp;14A dated April&nbsp;3, 2009).</TD>
</TR>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
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<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release, dated May&nbsp;14, 2009.</TD>
</TR>
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Form 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): May 14, 2009
FLOWSERVE CORPORATION
(Exact name of registrant as specified in its charter)
New York
1-13179
31-0267900
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
5215 N. O'Connor Blvd., Suite 2300, Irving, Texas
75039
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(972) 443-6500
N/A
(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:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
(b) On May 14, 2009, Diane C. Harris retired from her position as a member of the Board of Directors (the "Board") of
Flowserve Corporation (the "Company").
(e) On May 14, 2009, at the Company's 2009 Annual Meeting of Shareholders (the "Annual Meeting"), the shareholders of
the Company approved the Flowserve Corporation Equity and Incentive Compensation Plan (the "Plan") to be effective as
of January 1, 2010. 2,900,000 shares of Company common stock are available for award under the Plan, and the Plan
provides for awards in the form of incentive stock options, nonstatutory stock options, restricted stock, restricted
stock units, stock appreciation rights, bonus stock and cash bonus annual incentive awards. The Plan will be
administered by the Organization and Compensation Committee of the Board, which has the discretion and authority to
make awards in any combination of the foregoing forms with vesting and other award provisions to provide incentives
consistent with the purpose of the Plan.
Any Company employee and all outside directors are eligible to participate in the Plan. No single participant may
be granted awards under the Plan in any fiscal year, subject to the attainment of performance goals, relating to more
than 200,000 shares of common stock. There is no restriction in the Plan concerning the number shares that may be
granted under full-value awards under the Plan. Unless earlier terminated by the Board, the Plan will continue in
effect until January 1, 2020.
For a more detailed discussion of the terms and conditions of the Plan, please see the description of the Plan set
forth in the Company's Proxy Statement on Schedule 14A relating to the Annual Meeting, filed with the Securities and
Exchange Commission on April 3, 2009 (the "Proxy Statement"), under the heading "Proposal Number Two: Approval of the
Adoption of the Flowserve Corporation Equity and Incentive Compensation Plan." The foregoing description of the Plan
and the description of the Plan contained in the Proxy Statement do not purport to be complete and are qualified in
their entirety by reference to the Plan.
Item 8.01 Other Events.
On May 14, 2009, the Company issued a press release announcing that the Annual Meeting was held in Irving, Texas.
In addition to announcing Ms. Harris' retirement from the Board and the shareholders' approval of the Plan at the
Annual Meeting described above under Item 5.02 of this Current Report on Form 8-K, the press release noted that Roger
L. Fix, Lewis M. Kling and James O. Rollans were all elected by the Company's shareholders at the Annual Meeting to
serve new terms as members of the Board expiring in 2012. The press release also announced that Kevin E. Sheehan
rotated out of his role as Non-Executive Chairman of the Board and that Mr. Rollans was elected by the Board as its new
Non-Executive Chairman.
A copy of the press release referenced above is included with this Current Report on Form 8-K as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
10.1
Flowserve Corporation Equity and Incentive Compensation Plan (incorporated by reference to Appendix A to the Registrant's Proxy Statement on Schedule 14A dated April 3, 2009).
99.1
Press Release, dated May 14, 2009.
SIGNATURES
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.
FLOWSERVE CORPORATION
Dated: May 14, 2009
By:
/
s/ Ronald F.
Shuff
Ronald F. Shuff
Senior Vice President, Secretary
and
General Counsel
EXHIBIT INDEX
Exhibit No.
Description
10.1
Flowserve Corporation Equity and Incentive Compensation Plan (incorporated by reference to Appendix A to the Registrant's Proxy Statement on Schedule 14A dated April 3, 2009).
99.1
Press Release, dated May 14, 2009.