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) November 23, 2004
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NATURAL HEALTH TRENDS CORP.
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(Exact name of Company as specified in its charter)
Florida 0-26272 59-2705336
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(State or other jurisdiction (Commission IRS Employer
of incorporation) File Number) Identification No.)
12901 Hutton Drive Dallas, TX 75234
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(Address of principal executive offices) (Zip Code)
Company's telephone number, including area code (972) 241-4080
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(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 Company under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-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 Principal Officers; Election of Directors;
Appointment of Principal Officers
On November 23, 2004, the Natural Health Trends Corp. (the "Company")
announced the appointment of Richard S. Johnson to be the Representative
Director and President of its operations in Japan which market is scheduled to
open in mid 2005.
As of November 1, 2004, the Company and Lexxus International (Japan),
Ltd., a wholly owned subsidiary of the Company ("Lexxus Japan"), entered into an
employment agreement with Mr. Johnson pursuant to which Mr. Johnson agreed to
serve as the Company's President - Japan and as the Representative Director of
Lexxus Japan. The term of Mr. Johnson's employment with the Company commenced on
November 1, 2004 and ends on December 31, 2006. The Company agreed to pay Mr.
Johnson an annual base salary of $480,000. Pursuant to the agreement, Mr.
Johnson is entitled to be reimbursed for reasonable business expenses as well as
expenses related to relocating to, and living in, Japan. In addition, the
Company has agreed to pay for travel expenses and certain club membership fees
on behalf of Mr. Johnson. The employment agreement with Mr. Johnson contains
other customary terms and conditions.
ITEM 9.01 Financial Statements And Exhibits.
(c) The following exhibits are attached to this Current Report:
99.1 Press Release of the Company dated November 23, 2004
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NATURAL HEALTH TRENDS CORP.
Date: December 1, 2004
By: /s/ MARK D. WOODBURN
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Name: Mark D. Woodburn
Title: President
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