8-KLeadership ChangesExhibits & Filings

Monster Beverage Corp 8-K Report, Executive Changes (Mar 11, 2009)

Filed March 11, 2009For Securities:MNST

Summary

This 8-K filing from Hansen Natural Corporation (now Monster Beverage Corp) announces the execution of new employment agreements for its top executives, Chairman and CEO Rodney C. Sacks and President and COO Hilton H. Schlosberg. These agreements, effective March 6, 2009, extend their employment through December 31, 2013, with automatic one-year renewal periods thereafter, providing significant continuity in leadership for the company. The new agreements establish an annual base salary of $385,000 for both executives, subject to annual review and potential increases at the Board's discretion. The agreements also allow for performance-based bonuses and include standard confidentiality and non-compete clauses, alongside defined terms for termination under various circumstances. Investors can view these agreements as a commitment to retaining key leadership during a period of growth for the company.

Key Highlights

  • 1New employment agreements signed with CEO Rodney C. Sacks and COO Hilton H. Schlosberg.
  • 2Employment term extended through December 31, 2013, with automatic annual renewals.
  • 3Annual base salary for both executives set at $385,000, with potential for increases.
  • 4Bonuses are discretionary and subject to the Board of Directors' determination.
  • 5Agreements include provisions for termination due to death, disability, voluntary resignation, termination for cause, or constructive termination.
  • 6Confidentiality and non-compete clauses are included in both agreements.
  • 7The filing signals stability and continuity in the company's senior leadership.

Frequently Asked Questions

The primary purpose of this 8-K filing is to disclose the execution of new employment agreements with key executives, Chairman and CEO Rodney C. Sacks and President and COO Hilton H. Schlosberg, ensuring leadership continuity.

The new employment agreements commence on March 6, 2009, and have a term extending through December 31, 2013. They also include an automatic renewal clause for one-year periods unless notice of non-renewal is given.

Both Mr. Sacks and Mr. Schlosberg will receive an annual base salary of $385,000. This salary is subject to annual review and can be increased at the discretion of the Company's Board of Directors.

Yes, the agreements allow for the possibility of bonuses, which will be granted at the discretion of the Company's Board of Directors, likely tied to performance metrics.