UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 20, 2013
MONMOUTH REAL ESTATE INVESTMENT CORPORATION
(Exact name of Registrant as specified in its charter)
MARYLAND 001-33177 22-1897375
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification Number)
3499 Route 9N, Suite 3C, Freehold, NJ 07728
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (732) 577-9996
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
[ ] Written communications pursuant to Rule 425 under Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 142-12 under the Exchange Act (17 CFR 240.14a-12
[ ] Pre-commencement communications pursuant to rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 20, 2013, the Company executed a sixth amendment to the employment agreement with Eugene W. Landy, Chairman of Board. This amendment reflects an increase in Eugene W. Landy’s annual base salary from $275,000 to $385,000. This amendment is effective as of January 1, 2014.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits.
99.1 Employment Agreement – Eugene W. Landy, dated December 20, 2013
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MONMOUTH REAL ESTATE INVESTMENT CORPORATION
/s/ Kevin S. Miller
KEVIN S. MILLER
Chief Financial and Accounting Officer
Date December 20, 2013
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SIXTH AMENDMENT TO EMPLOYMENT AGREEMENT
This Sixth Amendment to Employment Agreement (“the Amendment”) is effective January 1, 2014 by and between MONMOUTH REAL ESTATE INVESTMENT CORPORATION, a Maryland corporation (the “Company”), and EUGENE W. LANDY, an individual (the “Employee”).
WHEREAS, in accordance with the recommendations of the Compensation Committee of the Company at its meeting on December 16, 2013, it was determined to amend the current compensation agreement of the Employee.
NOW, THEREFORE, the following amendment is hereby added to the Employee’s Employment Agreement dated December 9, 1994, the Amendment to the Employment Agreement dated June 26, 1997, the Second Amendment to Employment Agreement dated November 5, 2003, the Third Amendment to Employment Agreement dated April 1, 2008, the Fourth Amendment to Employment Agreement dated July 1, 2010, and the Fifth Amendment to Employment Agreement dated April 25, 2013 by and between the Company and the Employee (collectively, the “Agreement”).
1.
Employee’s base salary shall be increased to $385,000.00.
The Agreement is unchanged in all other respects.
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MONMOUTH REAL ESTATE INVESTMENT CORPORATION |
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By: /s/ Steve Wolgin, Chairman Steve Wolgin Chairman, Compensation Committee |
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By: /s/ Eugene W. Landy Eugene W. Landy Employee |
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Dated: December 20, 2013 |