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): August 29, 2007
MANNATECH, INCORPORATED
(Exact Name of Registrant as Specified in its Charter)
| Texas | 000-24657 | 75-2508900 | ||
| (State or other Jurisdiction of Incorporation or Organization) |
(Commission File Number) | (I.R.S. Employer Identification No.) |
600 S. Royal Lane, Suite 200
Coppell, Texas 75019
(Address of Principal Executive Offices, including Zip Code)
Registrant’s Telephone Number, including Area Code: (972) 471-7400
(Former name or former address, if change 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:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17CFR 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 August 29, 2007, Mannatech, Incorporated (“Mannatech”) entered into an Amendment to Employment Agreement, effective August 31, 2007, by and between Mannatech and John W. Price, Mannatech’s President of International Operations (the “Amendment”). The Amendment amends the Employment Agreement, dated August 31, 2005, by and between Mannatech and Mr. Price, to extend the term of the agreement through September 30, 2007. All other terms and conditions of the employment agreement remain in full force and effect. A copy of the Amendment is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 1.01.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit Number | Exhibit | |
| 10.1* | Amendment to Employment Agreement, effective August 31, 2007, by and between Mannatech, Incorporated and John W. Price | |
*Filed herewith.
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.
| MANNATECH, INCORPORATED | ||||
| Dated: August 30, 2007 |
By: | /s/ Stephen D. Fenstermacher | ||
| Stephen D. Fenstermacher | ||||
| Senior Vice President and Chief Financial Officer | ||||
EXHIBIT INDEX
| Exhibit Number |
Exhibit | |
| 10.1* | Amendment to Employment Agreement, effective August 31, 2007, by and between Mannatech, Incorporated and John W. Price | |
*Filed herewith.
Exhibit 10.1
AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment to Employment Agreement (“Amendment”) is entered into by and between MANNATECH INCORPORATED (the “Company”), and JOHN W. PRICE (the “Employee”), and has an effective date of August 31, 2007 (“Effective Date”). The Company and the Employee desire this Amendment to modify the Employment Agreement entered into by and between the Company and the Employee on August 31, 2005.
R E C I T A L S:
WHEREAS, the Company and the Employee entered into an Employment Agreement effective August 31, 2005 (“Agreement”); and
WHEREAS, such Agreement will expire on August 31, 2007; and
WHEREAS, the Company and the Employee desire to extend the term of the Agreement as described below.
NOW, THEREFORE, in consideration of the mutual covenants herein contained, it is agreed as follows:
1. Amendment. The Company and the Employee agree to amend Section 2.1 of the Agreement such that the Agreement shall continue through September 30, 2007. All other terms and conditions of such Agreement shall remain the same.
IN WITNESS WHEREOF, the Parties, intending to be legally bound, have duly entered into this Amendment to Employment Agreement as of the Effective Date.
| EMPLOYEE: | EMPLOYER: | |||||||
| MANNATECH INCORPORATED | ||||||||
| /s/ John W. Price | By: | /s/ Terry Persinger | ||||||
| JOHN W. PRICE | TERRY PERSINGER, CHIEF EXECUTIVE OFFICER | |||||||
| Date: | August 29, 2007 | Date: | August 29, 2007 | |||||
| AMENDMENT TO EMPLOYMENT AGREEMENT | Solo Page |