March 7, 2005 Dr. H. Reg McDaniel
EXHIBIT 10.24
Xxx Xxxxxx
Chairman and Chief Executive Officer
Direct Dial: 972.471.725D
Email: xxxxxxx@xxxxxxxxx.xxxx
March 7, 2005
Dr. X. Xxx XxXxxxxx
RE: | Renewal of the Confidentiality and Non-Compete Agreement dated February 1, 2004 (“Confidentiality Agreement”) and the First Amendment to the Agreement dated March 3, 2004 (“2004 Amendment”), collectively, the “2004 Agreement”. |
Dear Dr. Xxx,
Under the terms and conditions of this Letter Agreement, the Company has determined that it is in its best interests to renew the 2004 Agreement for an additional one (1) year period. All other terms of the 2004 Agreement shall remain in full force and effect with the following amendment at paragraph 13:
13. Term.
This Agreement commences on February 1, 2005, subject to the terms and conditions of this Agreement and continues in full force and effect for one (1) year and will expire on January 31, 2006 (“Initial Term”). Mannatech has the option to renew this Agreement for a further one (1) year term on the same terms and conditions, such option to be exercisable by notice in writing by Mannatech given not less than one (1) month prior to the expiration of the Initial Term
Please execute and return an original of this letter promptly and add your copy to your records.
Very truly yours,
/s/ Xxx Xxxxxx
Xxx Xxxxxx
Chairman & Chief
Executive Officer of
Mannatech, Inc.
ACCEPTED AND AGREED:
/s/ X. Xxxxxxxxx XxXxxxxx
X. Xxxxxxxx XxXxxxxx
Cc: | Xxxxxxx Xxxxxxxxxxxxx |
Xxxxx Xxxx