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MEDIFAST INC FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits
[August 21, 2014]

MEDIFAST INC FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits


(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective August 15, 2014, Jeannette Mills resigned as Executive Vice President, Take Shape for Life Inc., a wholly-owned subsidiary of Medifast, Inc. (the "Company"), in order to pursue other opportunities. Ms. Mills will remain with the Company in a transitional capacity until September 12, 2014. The Company has initiated a search to identify a highly qualified executive to lead the Take Shape For Life, Inc. business in the new position of President, Take Shape For Life, Inc. In the interim, the business and employees will report directly to Meg Sheetz, Chief Executive Officer of Take Shape For Life, Inc.



In connection with Ms. Mills' resignation, the Company and Ms. Mills have entered into a separation and release agreement (the "Separation Agreement").

The Separation Agreement provides for, among other things: (a) one year's salary of $235,000, payable on a bi-weekly basis; (b) one year of medical, dental and vision coverage; (c) outplacement assistance; and (d) the release by Ms. Mills of all claims against the Company. The foregoing description of the Separation Agreement is not complete and is qualified in its entirety by reference to the full text of the Agreement, which is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.


Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99.1 Separation and Release Agreement between Jeannette Mills and Medifast, Inc.

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