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 18, 2014
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 18, 2014, the Company amended its employment agreement (such amendment, the “Seventh Amendment”) with Eugene W. Landy, Chairman of the Board. This amendment is effective January 1, 2015 and will increase Mr. Landy’s annual base salary by $25,000, bringing his annual base salary to $410,000. The Company’s employment with Mr. Landy otherwise remains in full force and effect in accordance with its terms.
The above summary of the Seventh Amendment of Mr. Eugene W. Landy’s Employment Agreement is qualified in its entirety by reference to the text of the Seventh Amendment, which is filed herewith as Exhibit 10.1, and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 10.1 | Seventh Amendment to Employment Agreement of Eugene W. Landy, dated December 18, 2014 | |
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 19, 2014
EXHIBIT INDEX
| Exhibit No. | Description | |
| 10.1 | Seventh Amendment to Employment Agreement of Eugene W. Landy, dated December 18, 2014 | |
SEVENTH AMENDMENT TO EMPLOYMENT AGREEMENT
This Seventh Amendment to Employment Agreement (“the Amendment”) is effective January 1, 2015 by and between MONMOUTH REAL ESTATE INVESTMENT CORPORATION, a Maryland corporation (the “Company”), and EUGENE W. LANDY, an individual (the “Employee”).
WITNESSETH:
WHEREAS, in accordance with the recommendations of the Company’s Compensation Committee, it was determined to amend the current compensation agreement of the Employee.
NOW, THEREFORE, the following amendment is hereby added to the Employment Agreement dated December 9, 1994, as amended by the Amendment to 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, the Fifth Amendment to Employment Agreement dated April 25, 2013, and the Sixth Amendment to Employment Agreement dated December 20, 2013 by and between the Company and the Employee (collectively, “the Agreement”).
| 1. | Employee’s base salary shall be increased to $410,000.00. |
The Agreement is unchanged in all other respects.
IN WITNESS WHEREOF, the Company has by its appropriate officers signed and affixed its seal and Employee has signed and sealed this Agreement.
MONMOUTH REAL ESTATE INVESTMENT CORPORATION
By: /s/ Steve Wolgin
Steve Wolgin, Chairman Compensation Committee
By: /s/ Eugene W. Landy
Eugene W. Landy, Employee
Dated: December 18, 2014