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SUBSEQUENT EVENTS | 12 Months Ended
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Dec. 31, 2012
SUBSEQUENT EVENTS [Abstract] |
SUBSEQUENT EVENTS | NOTE 17: SUBSEQUENT EVENTS On February 14, 2013, B. Keith Clark, Chief Operating Officer and Chief Legal Officer departed from the Company. Mr. Clark's employment termination date was March 18, 2013 and under the terms of his employment agreement, as amended, he will receive a bi-weekly payment of $12,884.62 through May 17, 2014. Additionally, Mr. Clark will have continued use of an automobile jointly leased and paid monthly by the Company for $992.64 through the lease expiration date of May 17, 2014. On March 4, 2013, the Company entered into an employment agreement with Roy Truett to serve as its President of International and Chief Operating Officer. The employment agreement provides for Mr. Truett's employment for a term of one year and will renew for successive one-year terms if not previously terminated or if neither party gives the other at least thirty days' prior written notice of its intent not to renew. Furthermore, the employment agreement provides for an annual base salary of $340,000 and for (i) up to $30,000 for moving expenses; (ii) up to $30,000 for closing costs related to the purchase of a residence; (iii) commuting costs and temporary housing costs for a period of up to six months; (iv) a signing bonus of $50,000; (v) eligibility to earn up to $52,000 pursuant to the 2013 executive bonus plan; (vi) a monthly car allowance of $1,000; (vii) twenty days of paid vacation annually; and (viii) all employee benefits offered to Mannatech's employees. In conjunction with the employment agreement, the Company granted stock options to purchase 10,000 shares of its common stock with an exercise price of $5.69 per share. The grant date of the options is March 4, 2013 with a fair value of $3.53 per share that vest equally over three years. On March 6, 2013, the Company entered into a new consulting agreement with Wonder Enterprises, LLC (hereinafter "Wonder"), effective January 1, 2013, for an initial term of six months or until May 31, 2013 for the consulting services of Mr. Caster who is an employee of Wonder and the Company's founder and a major stockholder. Pursuant to the terms of the Consulting Agreement, the Company will pay Wonder $300,000 plus reimbursable expenses for consulting services performed by Mr. Caster. The Consulting Agreement may be renewed by the Company for an additional six month period upon 30 days' written notice to Wonder before the expiration of the current term.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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