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MTEX > SEC Filings for MTEX > Form 8-K on 5-Dec-2013All Recent SEC Filings

Show all filings for MANNATECH INC



Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Item 1.01 Entry into a Material Definitive Agreement

On December 4, 2013, Mannatech, Incorporated ("Mannatech") entered into a new Consulting Agreement with Wonder Enterprises, LLC ("Wonder") for the consulting services of Mr. Caster, an employee of Wonder and a major shareholder and founder of Mannatech. The term of the agreement will be from December 1, 2013, the effective date, until February 28, 2014 ("Term") unless earlier terminated.

Pursuant to the terms of the Consulting Agreement, Mannatech will pay Wonder $150,000 plus reimbursable expenses for consulting services.

Mannatech may terminate the Consulting Agreement for cause at any time upon written notice to Wonder or Mr. Caster. Mannatech may terminate the Consulting Agreement without cause upon 30 days' written notice to Wonder or Mr. Caster, and in such event Mannatech shall remain obligated to continue paying Wonder and Mr. Caster for the remainder of the term.

Mannatech may renew the Consulting Agreement for additional periods of three months by giving written notice to Wonder on or before thirty days prior to the end of any current Term.

The above summary of the material terms of the Consulting Agreement is qualified by reference to the text of the Consulting Agreement, which is filed herewith as Exhibit 10.1, and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit Number   Exhibit

10.1*            Consulting Agreement, effective as of December 1, 2013, by and
                 between Mannatech, Incorporated and Wonder Enterprises, LLC.

* filed herewith.

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