Muscle Pharm Corporation (MSLPQ)

[goldbergstein]

How does Brad Pyatt get awarded another $23,272,506 for committing the plethora of crimes and infractions supported in the SEC Investigation finding? Why did the SEC accept the punishment offered by MusclePharm?

How is Pyatt allowed to pledge all his shares against secret and mysterious third party loans that allow him to sell out the backdoor?

MSLP shareholders would be better served by contacting and asking the SEC’s continuing investigation that is being conducted by Kimberly L. Frederick, Michael F. D’Angelo, and Mary S. Brady. The case is being supervised by Thomas J. Krysa, and litigation assistance is being provided by Dugan Bliss and Gregory Kasper.



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303-844-1000

Additionally, if Mr. Pyatt’s employment is terminated prior to expiration of the employment period other than for Cause (as defined in the Pyatt Agreement) or Mr. Pyatt terminates his employment without Good Reason (as defined in the Pyatt Agreement) and other than for a Change in Control (as defined in the Pyatt Agreement), Mr. Pyatt shall be entitled to receive a cash amount equal to 300% of the sum of the Pyatt Base Salary, Pyatt Annual Bonus and Pyatt Long Term Incentive earned during the year immediately preceding the date of termination.

So if Brad is terminated he automatically receives 300% of base salary, bonus and long term incentive the preceding year.

This was Brad's salary, bonus and long term incentive for 2014:

salary+bonus $639,063 X 300% = $1,917,189

long term incentive $7,118,439 X 300% = $21,335,317

So if Brad is terminated in 2015, he would immediately receive $23,272,506 in a golden parachute.