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| MTEX > SEC Filings for MTEX > Form 8-K on 9-Jul-2012 | All Recent SEC Filings |
9-Jul-2012
Entry into a Material Definitive Agreement, Financial Statements and Exhibits
Mannatech, Incorporated ("Mannatech") has entered into an arrangement with Integrated Distribution and Logistics Direct, LLC (doing business as SPExpress) whereby Mannatech will outsource its warehousing and distribution functions to SPExpress. In connection with this arrangement, on July 2, 2012, Mannatech entered into a Services Agreement (the "Services Agreement") whereby, effective July 7, 2012, SPExpress will provide the space, labor, materials, facilities, equipment and personnel necessary to fulfill Mannatech's warehousing and distribution needs, including in facilities on both the east and west coasts of the United States, as well as in Texas. The initial term of the Services Agreement expires March 18, 2018, with automatic one-year period extensions. Additionally, in connection with the foregoing, on June 29, 2012, Mannatech entered into an Asset Purchase Agreement, which closed on July 7, 2012, whereby it sold certain assets related to the distribution and warehousing functions previously performed by Mannatech to SPExpress for an aggregate purchase price of $331,000. SPExpress will use such purchased assets to perform its obligations under the Services Agreement. The foregoing summary of the terms of the Services Agreement does not purport to be complete and is qualified in its entirety by reference to the Services Agreement, a copy of which is attached as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference.
On July 2, 2012, Mannatech and SPExpress also entered into a Sublease (the "Sublease") whereby, effective July 7, 2012, Mannatech will sublease the majority of the space in the distribution center it leases in Coppell, Texas to SPExpress for the purpose of providing the warehousing and distribution services under the Services Agreement. The term of the Sublease will expire on March 19, 2018, unless terminated sooner pursuant to the terms thereof. The foregoing summary of the terms of the Sublease does not purport to be complete and is qualified in its entirety by reference to the Sublease, a copy of which is attached as Exhibit 10.2 to this Form 8-K and is incorporated herein by reference.
(d) Exhibits.
Exhibit Number Exhibit
10.1* Services Agreement by and between Integrated
Distribution and Logistics Direct, LLC and
Mannatech, Incorporated, dated July 2, 2012.
(Portions of this exhibit were omitted pursuant to
a confidential treatment request submitted
pursuant to Rule 24b-2 of the Exchange Act.)
10.2* Sublease by and between Integrated Distribution
and Logistics Direct, LLC and Mannatech,
Incorporated, dated July 2, 2012. (Portions of
this exhibit were omitted pursuant to a
confidential treatment request submitted pursuant
to Rule 24b-2 of the Exchange Act.)
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*Filed herewith.
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