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MNST > SEC Filings for MNST > Form 8-K on 13-Nov-2013All Recent SEC Filings

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Form 8-K for MONSTER BEVERAGE CORP


13-Nov-2013

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 8, 2013, the Board of Directors (the "Board") of Monster Beverage Corporation (the "Company") increased the size of the Board and appointed Mark J. Hall to serve as a director of the Company, effective as of January 1, 2014.

As previously disclosed, pursuant to an agreement between Monster Energy Company ("Monster Energy") and Mr. Hall, dated October 28, 2013 (the "Hall Agreement"), Mr. Hall, agreed to serve as a member of the Board for at least one year, effective January 1, 2014. The Hall Agreement also provided for a sabbatical and leave of absence for Mr. Hall through December 31, 2013. In addition, pursuant to the Hall Agreement, effective January 1, 2014, Mr. Hall will resign as President of Monster Beverage Division and be appointed Chief Brand Officer of Monster Energy. As Chief Brand Officer of Monster Energy, Mr. Hall will receive an annual salary of $250,000. The Hall Agreement also included covenants from Mr. Hall not to compete with or solicit employees or contractors of Monster Energy or its affiliates during the term of Mr. Hall's employment and for a period of two years after termination of his employment or his service as a Board member, whichever occurs last.

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