As filed with the Securities and Exchange Commission on May 31, 2012
 
Registration No. 333-_______

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

COMPX INTERNATIONAL INC.
(Exact name of registrant as specified in its charter)
 
Delaware
(State or other jurisdiction of
incorporation or organization)	57-0981653
(I.R.S. Employer
Identification Number)	
 	
Three Lincoln Centre
5430 LBJ Freeway, Suite 1700
Dallas, Texas  75240-2697
(972) 233-1700
(Address, including zip code, and
telephone number, including area code,
of  principal executive offices)	

COMPX INTERNATIONAL INC. 2012 DIRECTOR STOCK PLAN
`(Full title of the plan)

A. Andrew R. Louis
Vice President, Secretary and Associate General Counsel
CompX International Inc.
Three Lincoln Centre
5430 LBJ Freeway, Suite 1700
Dallas, Texas  75240-2697
(972) 233-1700
(972) 448-1445 (facsimile)
(Name, address, including zip code, and telephone number, including area code, of agent for service)	
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
 
Large accelerated filer¨	 	Accelerated filer                        ¨	
Non-accelerated filer  ý	(Do not check if a smaller reporting company)	Smaller reporting company¨	

CALCULATION OF REGISTRATION FEE
 
Title of Securities to be Registered	Amount to be Registered (1)	Proposed Maximum Offering Price Per Share (2)(3)	Proposed Maximum Aggregate Offering Price (2)(3)	Amount of Registration Fee (3)	
Class A common stock, par value $0.01 per share	200,000	$13.125	$2,625,000	$300.83	

(1)  	Pursuant to Rule 416, additional shares of the registrant’s class A common stock, par value $0.01 per share, issuable pursuant to the terms of the plan in order to prevent dilution resulting from any future stock split, stock dividend or similar transaction are also being registered hereunder.	

(2)  	Estimated solely for the purpose of calculating the registration fee.	

(3)  	Calculated pursuant to Rule 457(c) and (h).  Accordingly, the price per share of the class A common stock offered hereunder pursuant to the terms of the plan is based on 200,000 shares of class A common stock reserved for issuance under the plan at a price per share of $13.125, which is the average of the highest and lowest selling price per share of class A common stock on the NYSE MKT on May 29, 2012. The result is rounded to the nearest penny.	

 

 

PART I
INFORMATION REQUIRED IN SECTION 10(a) PROSPECTUS
 
The documents containing the information specified in Part I of this Registration Statement on Form S-8 will be sent or given to plan participants as specified in Rule 428(b)(1) promulgated by the U.S. Securities and Exchange under the Securities Act of 1933, as amended.  Such documents are not required to be filed with the SEC but constitute (along with the documents incorporated by reference in this registration statement pursuant to Item 3 of Part II of this registration statement) a prospectus that meets the requirements of Section 10(a) of the Securities Act.
 
The following references in this registration statement shall have the following meanings:
 
“2012 Director Stock Plan” or “2012 plan” shall mean the CompX International Inc. 2012 Director Stock Plan;
 
“Securities Exchange Act” or “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended;
 
“SEC” shall mean the U.S. Securities and Exchange Commission;
 
“Securities Act” shall mean the Securities Act of 1933, as amended; and
 
“us,” “our,” or “we,” shall mean the registrant, CompX International Inc., a Delaware corporation.
 
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
 
Item 3.  Incorporation of Documents by Reference.
 
The SEC allows us to “incorporate by reference” information into this registration statement, which means that we can disclose important information to you by referring you to another document filed separately with the SEC.  The information incorporated by reference is considered to be part of this registration statement, and subsequent information that we file with the SEC will automatically update this registration statement.  We incorporate by reference into this registration statement the documents listed below:
 
 	(a)	our Annual Report on Form 10-K for the fiscal year ended December 31, 2011, which contains our audited financial statements for the year ended December 31, 2011, that we filed with the SEC on March 5, 2012;	
 
 	(b)	our Quarterly Report on Form 10-Q for the quarter ended March 31, 2012;	
 
 	(c)	our Definitive Proxy Statement on Schedule14A that we with filed the SEC on April 26, 2012;	
 
 	(d)	our Current Reports on Form 8-K that we filed with the SEC on May 9 and May 30, 2012; and	
 
 	(f)	the description of our capital stock contained in our Post-Effective Amendment No. 2 to Registration Statement on Form S-1 that we filed with the SEC on March 6, 1998 (File No. 333-42643), including any amendments or supplements to the description.	
 
In addition, all documents filed by us pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act, subsequent to the date of this registration statement and prior to the filing of a post-effective amendment to this registration statement that indicates all securities offered have been granted or that deregisters all remaining securities that have not been granted, shall be deemed to be incorporated by reference into this registration statement and to be a part of this registration statement from the date of the filing of such documents.
 
Any statement contained in a document incorporated or deemed to be incorporated by reference into 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 subsequently filed document that also is incorporated or deemed to be incorporated by reference into 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.

 

 
Item 6.  Indemnification of Directors and Officers.
 
Delaware General Corporation Law, our certificate of incorporation and bylaws contain provisions relating to the limitation of liability and indemnification of our directors and officers.
 
Our certificate of incorporation provides that our directors are not personally liable to us or our stockholders for monetary damages for breach of their fiduciary duties as directors, except for such liability as is expressly not subject to limitation under Delaware corporate law, as the same exists or may be amended to further limit or eliminate such liability.  Existing Delaware law permits the elimination or limitation of directors’ personal liability to us or our stockholders for monetary damages for breach of their fiduciary duties as directors, except liability for:
 
·  	any breach of a director’s duty of loyalty to us or our stockholders;	
 
·  	acts or omissions not in good faith or involving intentional misconduct or a knowing violation of law;	
 
·  	any transaction from which a director derived improper personal benefit;	
 
·  	the unlawful payment of dividends; and	
 
·  	unlawful stock repurchases or redemptions.	
 
Because of these exculpation provisions, stockholders may be unable to recover monetary damages against directors for actions taken by them that constitute negligence or that otherwise violate their fiduciary duties as directors, although it may be possible to obtain injunctive or other equitable relief with respect to such actions.  If equitable remedies are not available to stockholders, stockholders may not have an effective remedy against a director in connection with the director’s conduct.
 
Our certificate of incorporation provides as follows:
 
·  	we must, to the fullest extent permitted by law, indemnify any and all of our officers and directors;	
 
·  	we may, to the fullest extent permitted by law or to such lesser extent as is determined in the discretion of the board of directors, indemnify all other persons; and	
 
·  	we may advance expenses to all persons to whom we have the power to indemnify.	
 
Our bylaws provide as follows:
 
·  	we must indemnify our directors and officers to the fullest extent permitted under Delaware law;	
 
·  	we must advance reasonable expenses (including attorneys’ fees) of a director or officer for an indemnifiable claim upon receipt of a written undertaking by or on behalf of the director or officer to repay such amount if it is ultimately determined that he or she is not entitled to be indemnified by us as authorized in our bylaws;	
 
·  	if we receive a claim for indemnification of expenses of an indemnifiable claim and do not pay the claim within 30 days of its receipt, the claimant may bring suit to recover the unpaid amount and, if successful in whole or in part, the claimant will also be entitled to be paid the expenses of prosecuting such claim; and	
 
·  	we may grant rights of indemnification and advancement of expenses to any person who is not at the time our current director or officer.	
 
Additionally, we have in effect director and officer liability insurance.

 

 
 
Item 8.  Exhibits.

The following documents are filed as a part of this registration statement.
 
Exhibit	Description of Exhibit	
 	 	
4.1	Restated Certificate of Incorporation as of the registrant — incorporated by reference to Exhibit 3.1 to the registrant’s Pre-Effective Amendment No. 1 to Form S-1 Registration Statement filed with the SEC on February 5, 1998 (File No. 333-42643).	
4.2	Amended and Restated Bylaws of the registrant (amended and restated as of October 24, 2007) — incorporated by reference to Exhibit 3.1 to the registrant’s Current Report on Form 8-K filed with the SEC on October 30, 2007 (File No.1-13905).	
4.3	Form of the registrant’s stock certificate for class A common stock, par value $0.01 per share— incorporated by reference to Exhibit 4.1 to the registrant’s Pre-Effective Amendment No. 2 to Form S-1 Registration Statement filed with the SEC on March 3, 1998 (File No. 333-42643).	
4.4*	CompX International Inc. 2012 Director Stock Plan	
5.1*	Opinion of A. Andrew R. Louis, Esq.	
23.1*	Consent of A. Andrew R. Louis, Esq. (included in his opinion filed as Exhibit 5.1).	
23.2*	Consent of PricewaterhouseCoopers LLP	
24.1*	Power of Attorney (see the initial signature page of this registration statement).	

                   

*           Filed with this registration statement.
 
Item 9.  Undertakings.
 
A.           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;
 
(ii)           to reflect in the prospectus any facts or events arising after the effective date of this 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 this registration statement;
 
(iii)           to include any material information with respect to the plan of distribution not previously disclosed in this registration statement or any material change to such information in this registration statement;
 
provided, however, that paragraphs (a)(1)(i) and (a)(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 15(d) of the Exchange Act that are incorporated by reference in this registration statement.
 
(2)           that, for the purpose of determining any liability under the Securities Act, 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.           The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant’s annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to section 15(d) of the Exchange Act of 1934) that is incorporated by reference in this 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.

 

 
C.           Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (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 of whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

 

 

SIGNATURES
 
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all 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 Dallas, state of Texas, on May 31, 2012:
 
COMPX INTERNATIONAL INC.

By:   /s/ A. Andrew R. Louis
A. Andrew R. Louis
Vice President and Secretary
 
POWER OF ATTORNEY
 
KNOW ALL MEN BY THESE PRESENTS, that each individual whose signature appears below constitutes and appoints Darryl R. Halbert, Gregory M. Swalwell and A. Andrew R. Louis, and each of them, his true and lawful attorneys-in-fact and agents with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to file the same with all exhibits, thereto, and all documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, 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 might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or either of them, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
 
Pursuant to the requirements of the Securities Act, this registration statement has been signed by the following persons in the capacities and on the dates indicated:

Signature	Title	Date	

 	 	 	
 	 	 	
/s/ Glenn R. Simmons
Glenn R. Simmons	Chairman of the Board	May 31, 2012	

 	 	 	
/s/ David A. Bowers
David A. Bowers	Vice Chairman of the Board, President and Chief Executive Officer (Principal Executive Officer)	May 31, 2012	

 	 	 	
/s/ Darryl R. Halbert
Darryl R. Halbert	Vice President, Chief Financial Officer and Controller (Principal Financial and Accounting Officer)	May 31, 2012	

 

 

 	 	 	
/s/ Serena S. Connelly
Serena S. Connelly	Director	May 31, 2012	

 	 	 	
/s/ Norman S. Edelcup
Norman S. Edelcup	Director	May 31, 2012	

 	 	 	
/s/ Edward J. Hardin
Edward J. Hardin	Director	May 31, 2012	

 	 	 	
/s/ Ann Manix
Ann Manix	Director	May 31, 2012	

 	 	 	
/s/ Steven L. Watson
Steven L. Watson	Director	May 31, 2012	

 

 

 
 	Exhibit Index	

The following documents are filed as a part of this registration statement.
 
Exhibit	Description of Exhibit	
 	 	
4.1	Restated Certificate of Incorporation as of the registrant — incorporated by reference to Exhibit 3.1 to the registrant’s Pre-Effective Amendment No. 1 to Form S-1 Registration Statement filed with the SEC on February 5, 1998 (File No. 333-42643).	
4.2	Amended and Restated Bylaws of the registrant (amended and restated as of October 24, 2007) — incorporated by reference to Exhibit 3.1 to the registrant’s Current Report on Form 8-K filed with the SEC on October 30, 2007 (File No.1-13905).	
4.3	Form of the registrant’s stock certificate for class A common stock, par value $0.01 per share— incorporated by reference to Exhibit 4.1 to the registrant’s Pre-Effective Amendment No. 2 to Form S-1 Registration Statement filed with the SEC on March 3, 1998 (File No. 333-42643).	
4.4*	CompX International Inc. 2012 Director Stock Plan	
5.1*	Opinion of A. Andrew R. Louis, Esq.	
23.1*	Consent of A. Andrew R. Louis, Esq. (included in his opinion filed as Exhibit 5.1).	
23.2*	Consent of PricewaterhouseCoopers LLP	
24.1*	Power of Attorney (see the initial signature page of this registration statement).	

                   

*           Filed with this registration statement.

Exhibit 4.4

COMPX INTERNATIONAL INC.

2012 DIRECTOR STOCK PLAN

Section 1.  Purpose.  The purpose of this Plan is to advance the interests of CompX and its stockholders by providing incentives to its directors to contribute to the strategic and long-term performance objectives and growth of CompX.

Section 2.  Definitions.  The following terms shall have the meanings indicated:

(a)           “Board” shall mean the board of directors of CompX.

(b)           “Class A Common Shares” shall mean shares of class A common stock, par value $0.01 per share, of CompX and stock of any other class into which such shares may thereafter be changed.

(c)           “Code” shall mean the Internal Revenue Code of 1986, as it now exists or may be amended from time to time, and the rules and regulations promulgated thereunder, as they may exist or may be amended from time to time.

(d)           “Committee” shall mean a committee of the Board, if any, designated by the Board to administer this Plan that is comprised of not fewer than two directors and shall initially mean the management, development and compensation committee of the Board.  The membership of the Committee or any successor committee (i) shall consist of “nonemployee directors” (as defined in Rule 16b-3) and meet any other applicable requirements so as to comply at all times with the applicable requirements of Rule 16b-3, (ii) shall consist of “outside directors” (as defined in Treasury Regulation §1.162-27(e)(3)(i) or any successor regulation) and meet any other applicable requirements so as to comply at all times with the applicable requirements of Section 162(m) and (iii) shall meet any applicable requirements of any stock exchange or other market quotation system on which Class A Common Shares are listed or traded.  References to the Committee hereunder shall include the Board where appropriate.

(e)           “Company” shall mean CompX and any parent or privately held subsidiary of CompX.

(f)           “CompX” shall mean CompX International Inc., a Delaware corporation and any of its privately held subsidiaries.

(g)           “Effective Date” shall mean May 30, 2012.

(h)           “Exchange Act” shall mean the Securities Exchange Act of 1934, as it now exists or may be amended from time to time, and the rules promulgated thereunder, as they may exist or may be amended from time to time.

(i)           “Director” shall mean a member of the board of directors of CompX at such time.

(j)           “Grant” shall mean a grant of Class A Common Shares to a Director under this Plan.

(k)           “Plan” shall mean this CompX International Inc. 2012 Director Stock Plan, as it may be amended from time to time.

(l)           “Rule 16b-3” shall mean Rule 16b-3 promulgated by the U.S. Securities and Exchange Commission under the Exchange Act and any successor rule.

(m)           “Section 162(m)” shall mean §162(m) of the Code, any rules or regulations promulgated thereunder, as they may exist or may be amended from time to time, or any successor to such section.

Page 1 of 4

 
(n)           “Treasury Regulation” shall mean a final, proposed or temporary regulation of the U.S. Department of Treasury under the Code and any successor regulation.

Section 3.  Administration.  Unless the Board shall designate itself, this Plan shall be administered by the Committee.

The Committee has all the powers vested in it by the terms of this Plan.  Such powers shall include the exclusive authority to select the Directors to receive Grants under this Plan, and to determine the number of Class A Common Shares granted, the time of the Grants to be made to each Director selected and the terms and conditions (if any) associated with the Grants.  The Committee is authorized to interpret this Plan and to make any other determinations that it deems necessary or desirable for the administration of this Plan.  The Committee may correct any defect or supply any omission or reconcile any inconsistency in this Plan or in any Grant in the manner and to the extent the Committee deems necessary or desirable to carry it into effect.  Any decision of the Committee in the interpretation and administration of this Plan, as described herein, shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned.  The Committee may act only by a majority of its members,  except  that the members thereof may authorize any one or more of their members or any officer of CompX to execute and deliver documents or to take any other ministerial action on behalf of the Committee with respect to Grants.

No member of the Committee and no officer of the Company shall be liable for anything done or omitted to be done by him or her, by any other member of the Committee or by any officer of the Company in connection with the performance of duties under this Plan,  except  for his or her own willful misconduct or as expressly provided by statute.  In addition to all other rights of indemnification and reimbursement to which a member of the Committee and an officer of the Company may be entitled, the Company shall indemnify and hold harmless each such member or officer who was or is a party or is threatened to be made a party to any threatened, pending or completed proceeding or suit in connection with the performance of duties under this Plan against expenses (including reasonable attorneys’ fees), judgments, fines, liabilities, losses and amounts paid in settlement actually and reasonably incurred by him or her in connection with such proceeding or suit,  except  for his or her own willful misconduct or as expressly provided otherwise by statute.  Expenses (including reasonable attorneys’ fees) incurred by such a member or officer in defending any such proceeding or suit shall be paid by the Company in advance of the final disposition of such proceeding or suit upon receipt of a written affirmation by such member or officer of his or her good faith belief that he or she has met the standard of conduct necessary for indemnification and a written undertaking by or on behalf of such member or officer to repay such amount if it shall ultimately be determined that he or she is not entitled to be indemnified by the Company as authorized in this Section.

Section 4.  Grants of Class A Common Shares under this Plan.

(a)           Maximum Number of Shares that May be Issued.  There may be issued under this Plan an aggregate of not more than 200,000 Class A Common Shares, subject to adjustment as provided in  Section 5.   Class A Common Shares issued pursuant to this Plan may be either authorized but unissued shares, treasury shares or any combination thereof.  The number of Class A Common Shares that may be issued to a Director under this Plan may not exceed 10,000 shares in any calendar year.

(b)           Conditions for Receipt of Grant.  Entitlement to a Grant shall be conditioned upon achieving specified Company performance goals for a given performance period based on the closing price per share on the NYSE Amex Exchange (or any other stock exchange or market quotation system on which Class A Common Shares are listed or traded) for the period specified by the Committee.  The Committee shall, from time to time, designate the performance goals, which shall be documented in writing, and, for any performance period, must be established no later than ninety (90) days after the commencement of such performance period.

(c)           Rights with Respect to Class A Common Shares and Other Securities.  Except as provided in Section 5 , no adjustment shall be made for dividends, distributions or other rights (whether ordinary or extraordinary, and whether in cash, securities, other property or other forms of consideration, or any combination thereof) for which the record date is prior to the date such stock certificate or other instrument of ownership, if any, is issued.  In all events, a Director who receives a Grant shall have no rights as a stockholder with respect to such Class A Common Shares represented by such Grant until the issuance to him or her of a stock certificate representing such shares.

Page 2 of 4

 
Section 5.  Dilution and Other Adjustments.  In the event of any change in the outstanding Class A Common Shares by reason of any stock split, stock dividend or other extraordinary or unusual event, if the Committee shall determine, in its discretion, that such change equitably requires an adjustment to the maximum number of Class A Common Shares available for issuance (i) under this Plan or (ii) to any one Director under this Plan in any one calendar year, such adjustments may be made by the Committee and shall be final, conclusive and binding for all purposes of this Plan.

Section 6.  Miscellaneous Provisions.

(a)           No fractional shares may be delivered under a Grant, but in lieu thereof a cash or other adjustment shall be made as determined by the Committee in its discretion.

(b)           Determinations made by the Committee under this Plan need not be uniform and may be made selectively among Directors, whether or not such Directors are similarly situated.  Such determinations shall include the right to exercise discretion to reduce prior to its grant date the amount of a Grant made to any Director;  provided, however , the exercise of discretion shall not have the effect of increasing any Grant that is payable to any Director.

(c)           No Director or other person shall have any claim or right with respect to this Plan, the Class A Common Shares reserved for issuance under this Plan or in any Grant, contingent or otherwise, until the Class A Common Shares represented by such Grant shall have been delivered to the recipient and all the terms, conditions and provisions of this Plan and the Grant applicable to such recipient (and each person claiming under or through him or her) have been met.

(d)           No Class A Common Shares shall be issued hereunder with respect to any Grant unless counsel for CompX shall be satisfied that such issuance will be in compliance with applicable law and any applicable rules of any stock exchange or other market quotation system on which Class A Common Shares are listed or traded.

(e)           It is the intent of CompX that this Plan comply in all respects with Rule 16b-3 and Section 162(m) with respect to Grants, that any ambiguities or inconsistencies in construction of this Plan be interpreted to give effect to such intention and that if any provision of this Plan is found not to be in compliance with Rule 16b-3 or Section 162(m), such provision shall be deemed null and void with respect to Grants granted to executive officers of CompX to the extent required to permit such Grants to comply with Rule 16b-3 and Section 162(m).

(f)           The expenses of this Plan shall be borne by CompX; provided, however, CompX may recover from a Director or his or her heirs or assigns any and all damages, fees, expenses and costs incurred by CompX arising out of any actions taken by a Director in breach of this Plan.

(g)           By accepting any Grant or other benefit under this Plan, each Director and each person claiming under or through him or her shall be conclusively deemed to have indicated his or her acceptance and ratification of, and consent to, any action taken under this Plan by CompX, the Board or the Committee.

(h)           The appropriate officers of CompX shall cause to be filed any reports, returns or other information regarding Grants hereunder of any Class A Common Shares issued pursuant hereto as may be required by applicable law and any applicable rules of any stock exchange or other market quotation system on which Class A Common Shares are listed or traded.

(i)           The validity, construction, interpretation, administration and effect of this Plan, and of its rules and regulations, and rights relating to this Plan and to Grants under this Plan, shall be governed by the substantive laws, but not the choice of law rules, of the state of Delaware.

Page 3 of 4

 
(j)           Records of CompX shall be conclusive for all purposes under this Plan or any Grant, unless determined by the Committee to be incorrect.

(k)           If any provision of this Plan or any specific Grant is held to be illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining provisions of this Plan, the specific Grant or any other Grant, but such provision shall be fully severable, and this Plan, such specific Grant and any other Grant, as applicable, shall be construed and enforced as if the illegal or invalid provision had never been included in this Plan, the specific Grant or any other Grant, as applicable.

(l)           The terms of this Plan shall govern all Grants under this Plan and in no event shall the Committee have the power to authorize a Grant under this Plan that is contrary to any of the provisions of this Plan.

Section 7.  Plan Amendment or Suspension.  This Plan may be amended or suspended in whole or in part at any time from time to time by the Board.  No amendment of this Plan shall adversely affect in a material manner any right of any person with respect to any Grant previously granted without such person’s written consent.

Section 8.  Plan Termination.  This Plan shall terminate upon the earlier of the following dates or events to occur:

(a)           upon the adoption of a resolution of the Board terminating this Plan; or

(b)           when no more Class A Common Shares are authorized to be issued under this Plan.

No termination of this Plan shall materially alter or impair any of the rights or obligations of any person, without his or her consent, under any Grant previously granted under this Plan.

Section 9.  Effective Date.  This Plan shall be effective, and Grants awarded under this Plan, on or after the Effective Date.

ADOPTED BY THE BOARD:                                                                 	February 22, 2012	
APPROVED BY THE STOCKHOLDERS:	May 30, 2012	
EFFECTIVE DATE:                                                                 	May 30, 2012	

EXECUTED to evidence this CompX International Inc. 2012 Director Stock Plan adopted by the Board on February 22, 2012 and the stockholders of CompX on May 30, 2012.

 	COMPX INTERNATIONAL INC.	

 	By:	    /s/ A. Andrew R. Louis	 	

 	A. Andrew R. Louis, Vice President and Secretary	

 
 
Page 4 of 4

 

Exhibit 5.1

A. Andrew R. Louis, Esq.
Vice President, Secretary and
Associate General Counsel

May 31, 2012

The Board of Directors of CompX International Inc.
Three Lincoln Centre
5430 LBJ Freeway, Suite 1700
Dallas, Texas  75240-2697

 	Re:	Registration Statement on Form S-8 Relating to 200,000 Shares of Class A Common Stock of CompX International Inc. Available for Issuance under the CompX International Inc. 2012 Director Stock Plan	

Ladies and Gentlemen:

I have acted as associate general counsel for CompX International Inc., a Delaware corporation (the “ Company ”), in connection with the preparation of the Company’s Registration Statement on Form S-8 (the “ Registration Statement ”) to be filed with the U.S. Securities and Exchange Commission on May 31, 2012 under the Securities Act of 1933, as amended (the “ Securities Act ”), relating to the Company’s 200,000 shares (the “ Shares ”) of class A common stock, par value $0.01 per share (the “ Class A Common Stock  ”), available for issuance under the CompX International Inc. 2012 Director Stock Plan (the “ Plan ”).

A.           Basis of Opinions

As the basis for the opinions expressed in this letter, I have examined and considered originals, or copies certified or otherwise identified to my satisfaction, of such documents, corporate records, and instruments as I have deemed necessary or appropriate for the expression of such opinions, including, without limitation, the following:

 	(1)	the Company’s restated certificate of incorporation (restated as of February 4, 1998) and amended and restated bylaws (restated as of October 24, 2007), both as amended to date;	

 	(2)	the minutes and records of the corporate proceedings of the Company with respect to the establishment of the Plan and related matters; and	

 	(3)	the Plan.	

B.           Opinions

Based upon the foregoing, having regard for such legal considerations as I have deemed relevant, and subject to the comments, assumptions, limitations, qualifications and exceptions set forth in Section C, I hold the opinions set forth below:

 

 
 	(1)	The issuance of the Shares has been duly authorized; and	

 	(2)	The Shares, when issued, will be validly issued, fully paid and nonassessable.	

C.	Comments, Assumptions, Limitations, Qualifications and Exceptions	

The opinions expressed in Section B above are based upon and subject to the further comments, assumptions, limitations, qualifications and exceptions as set forth below.

 	(1)	Other than documents that I personally prepared or executed, I have assumed, without investigation, the genuineness of all signatures and the authenticity of all documents submitted to me as originals, the conformity to authentic originals of all documents submitted to me as copies and the veracity of all such documents.	

 	(2)	I have assumed that (a) grants of shares of Class A Common Stock under the Plan (“Grants”), which Grants are yet to be granted, will be duly granted in accordance with the terms of the Plan; (b) the Shares will be duly issued in accordance with the terms of the Plan; (c) the Company maintains an adequate number of authorized but unissued shares and/or treasury shares of Class A Common Stock  available for issuance to those directors of the Company who receive Grants; and (d) the consideration actually received by the Company (or the increase in the Company’s capital on the books of the Company, if applicable) for each issued Share is equal to or exceeds the par value thereof.	

 	(3)	The law covered by the opinions expressed in this letter is limited to the federal law of the United States, the Delaware General Corporation Law, as amended, and the law of the state of Texas.	

 	(4)	I am the vice president, secretary and associate general counsel of the Company and I am an employee of Contran Corporation, a Delaware corporation and an indirect parent corporation of the Company.	

 	(5)	Except as set forth in subsection C.6 below, the opinions set forth herein are expressed solely for your benefit, and no other party shall be entitled to rely on my opinions without my prior express written consent.  Except as set forth in subsection C.6 below or without my prior express written consent, this opinion letter may not be quoted in whole or in part or otherwise referred to in any document or report and may not be furnished to any person or entity.	

 

 
 	(6)	I consent to the filing of this letter as an exhibit to the Registration Statement and to reference to my opinions included in or made a part of the Registration Statement.  In giving this consent, I do not admit that I m an “expert” within the meaning of Section 11 of the Securities Act or within the category of persons whose consent is required by Section 7 of the Securities Act or the rules and regulations promulgated thereunder.	

Sincerely,

/s/ A. Andrew R. Louis
A. Andrew R. Louis

 
Exhibit 23.2

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated March 2, 2012 relating to the consolidated financial statements, which appears in CompX International Inc.’s Annual Report on Form 10-K for the year ended December 31, 2011.
 
PricewaterhouseCoopers LLP

Dallas, Texas
May 31, 2012