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XELR.OB > SEC Filings for XELR.OB > Form 8-K on 5-Aug-2009All Recent SEC Filings

Show all filings for XELR8 HOLDINGS, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for XELR8 HOLDINGS, INC.


5-Aug-2009

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal Officers

Effective July 31, 2009, the Company and Doug Ridley entered into a Separation Agreement, pursuant to which the Company and Mr. Ridley agreed to terminate Mr. Ridley's Employment Agreement, dated May 2, 2008; provided, however, the terms of the Employment Agreement regarding protection of trade secrets, non-solicitation, and related provisions survive termination of the Employment Agreement for a period of one year from August 3, 2009. The Company currently does not intend to fill the position of President of the Company. While no assurances can be given, the Company and Mr. Ridley are currently negotiating terms and conditions pursuant to which Mr. Ridley may join the Company as a distributor.

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