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      Form 8-K
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES</strong></font></div>
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      AND EXCHANGE COMMISSION</strong></font></div>
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      DC 20549</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>FORM
      8-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Pursuant
      to Section 13 of 15(d) of the </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Securities
      Exchange Act of 1934</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Date
      of
      report (Date of earliest event reported): </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>March
      21, 2006</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>PRESTIGE
      BRANDS HOLDINGS, INC.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(Exact
      name of registrant as specified in charter)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB2" style="COLOR: black; LETTER-SPACING: 36pt"></font>&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>Delaware</u></font></div>
              </td>
              <td valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>001-32433</u></font></div>
              </td>
              <td valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>20-1297589</u></font></div>
              </td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(State
                  or Other Jurisdiction </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">of
                  Incorporation)</font></div>
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              <td valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(Commission
                  File Number)</font></div>
              </td>
              <td valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(I.R.S.
                  Employer </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Identification
                  No.)</font></div>
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            </tr>

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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>90
        North Broadway, Irvington, New York 10533</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(Address
        of Principal executive offices, including Zip Code)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><u>(914)
        524-6810</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(Registrant&#8217;s
        telephone number, including area code)</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">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:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Wingdings">o</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9.7pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Written
      communications pursuant to Rule&#160;425 under the Securities Act (17 CFR
      230.425)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Wingdings">o</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9.7pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Soliciting
      material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Wingdings">o</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9.7pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule&#160;14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><a name="BM_______"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Wingdings">o</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9.7pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule&#160;13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.01.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Entry
      into a Material Definitive Agreement.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong><u>Agreement
      with Peter C. Mann</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">On
      March
      21, 2006, Prestige Brands Holdings, Inc. (the &#8220;Company&#8221;) and Prestige Brands,
      Inc. (&#8220;Prestige Brands&#8221;) entered into a Senior Management Agreement (the
&#8220;Agreement&#8221;) with Peter C. Mann, effective as of March 1, 2006. Pursuant to the
      Agreement, Mr. Mann will continue to serve as Chief Executive Officer, Director
      and Chairman of the Board of Directors of the Company through March 31, 2006.
      On
      April 1, 2006, he will relinquish his position as Chief Executive Officer,
      but
      will continue to serve as a director and Chairman of the Board of Directors.
      The
      Agreement supersedes the Amended and Restated Senior Management Agreement,
      effective as of February 4, 2005, among Prestige International Holdings, LLC
      (&#8220;Prestige International&#8221;), the Company, Prestige Brands and Mr. Mann. The
      principal terms of the Agreement are summarized below. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Term.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
      Agreement is effective as of March 1, 2006, and Mr. Mann's term of employment
      expires March 31, 2007, unless extended by the mutual agreement of the parties
      or terminated early.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Base
      Salary.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">From
      March 1, 2006 until March 31, 2006, the Company will pay Mr. Mann an annual
      base
      salary of $442,000. Commencing April 1, 2006, Mr. Mann's annual base salary
      will
      be $225,000. The Board of Directors and Compensation Committee of the Company
      shall review the annual base salary of Mr. Mann and may increase it or decrease
      it as merited.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Bonus
      Eligibility.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Mr.
      Mann
      is eligible for a bonus for the fiscal year beginning April 1, 2006. His target
      bonus percentage shall be 75% of annual base salary, with a maximum potential
      bonus payment of 150% of annual base salary, based on such subjective and
      objective criteria as the Board of Directors, in conjunction with the
      Compensation Committee, of the Company shall from time to time
      adopt.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Vesting
      of Shares.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">
      Under
      the terms of the Agreement, as of March 1, 2006, 140,686 shares of previously
      unvested common stock in the Company held by Mr. Mann vested. If Mr. Mann
      remains continuously employed with the Company, Prestige Brands or any of their
      respective subsidiaries until March 1, 2007, an additional 140,686 shares of
      Mr.
      Mann's unvested common stock will vest. If his employment is terminated after
      March 1, 2006 but prior to March 1, 2007, any unvested shares of common stock
      held by Mr. Mann shall become vested on a straight-line pro rata basis,
      according to the number of days elapsed since March 1, 2006, as compared to
      the
      number of days remaining until March 1, 2007. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Repurchase
      Rights.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">
      The
      Company has the right to repurchase all or any portion of Mr. Mann's unvested
      shares of common stock should his employment with the Company, Prestige Brands
      or any of their respective subsidiaries cease, for a purchase price equal to
      the
      lesser of (i) original cost of the unvested shares to Mr. Mann and (ii) the
      fair
      market value of the unvested shares of common stock on the date the Company
      gives notice of repurchase.</font></div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Restrictive
      Covenants.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">
      The
      Agreement imposes customary restrictive covenants prohibiting Mr. Mann's
      disclosure of confidential information. Mr. Mann assigns all work product and
      intellectual property accumulated while employed by the Company to the Company,
      Prestige Brands or any of their respective subsidiaries, and he agrees not
      to
      compete with the Company, Prestige Brands or any of their respective
      subsidiaries for the period ending February 6, 2010.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong><u>Agreement
      with Frank P. Palantoni</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">On
      March
      21, 2006, the Board of Directors of the Company approved the following
      compensatory arrangement for Frank P. Palantoni as of April 1, 2006, at which
      time Mr. Palantoni will become Chief Executive Officer and President of the
      Company. Effective April 1, 2006, Mr. Palantoni will receive an annual salary
      of
      $400,000 and a target bonus&#160;of 75% of his base salary for the fiscal year
      beginning April 1, 2006. Additionally, effective July 1, 2006 Mr. Palantoni
      shall be awarded a grant of restricted stock in the aggregate amount of
      $525,000. The actual number of shares of restricted stock shall be calculated
      by
      dividing such amount by the closing share price of the Company on July 1, 2006.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">This
      compensatory arrangement serves as an amendment to the Executive Employment
      Agreement (&#8220;Employment Agreement&#8221;) with Mr. Palantoni made as of August 4, 2005.
      In addition to the terms set forth above, the Employment Agreement provides
      for
      an initial grant of $400,000 worth of restricted stock (subject to vesting
      based
      upon certain earnings per share and revenue targets established by the
      Compensation Committee), and an initial stock option grant to purchase $800,000
      worth of common stock at $12.95 per share which vests in five equal annual
      installments beginning on August 4, 2006. A copy of Mr. Palantoni&#8217;s Employment
      Agreement was filed as Exhibit 99.2 to the Company&#8217;s Current Report on Form 8-K
      filed with the Securities and Exchange Commission on August 9, 2005.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.02. </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 63pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Termination
      of a Material Definitive Agreement.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Effective
      as of March 1, 2006, the Amended and Restated Senior Management Agreement among
      Prestige International, the Company, Prestige Brands and Peter C. Mann was
      superseded by the Agreement discussed in Item 1.01 of this Current Report on
      Form 8-K. Under the terms of the Amended and Restated Senior Management
      Agreement, Mr. Mann served as Chief Executive Officer for a base salary of
      $425,000 per annum and certain other benefits. Mr. Mann also was granted shares
      of restricted common stock in the Company which was subject to
      vesting.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 72pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Item
                5.02. </strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Departure
                of Directors or Principal Officers; Election of Directors; Appointment
                of
                Principal Officers.</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">On
      March
      21, 2006, the Company&#8217;s Board of Directors adopted resolutions providing for the
      following changes in executive officers to occur on April 1, 2006:
</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td align="right" style="width: 54pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Frank
                P. Palantoni will relinquish his position as Chief Operating Officer
                of
                the Company and will become Chief Executive Officer of the Company.
                He
                will retain his position as President of the Company and will remain
                a
                member of the Board of Directors.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td align="right" style="width: 54pt;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Peter
                C. Mann will relinquish his position as Chief Executive Officer of
                the
                Company. He will remain Chairman of the Board of
                Directors.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Mr.
      Palantoni, age 48, has served as President and Chief Operating Officer of the
      Company since August 2005 and as member of the Board of Directors since January
      2006. He has 22 years of experience with Fortune 100 companies in a variety
      of
      consumer goods industries and financial services. Mr. Palantoni was the
      President and CEO, Worldwide of Gerber Products Division, Novartis Infant and
      Baby Division from 2001 to August 2005. He held positions of increasing
      responsibility, including CEO of Novartis Consumer Health, North America, at
      Novartis Corporation from 1998 to 2001. Mr. Palantoni also held leading
      management positions at Groupe Danone and RJR Nabisco, Inc. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
      material terms of Mr. Palantoni&#8217;s employment arrangement with the Company are
      set forth in Item 1.01 of this Current Report on Form 8-K. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Item
      7.01. </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Regulation
      FD Disclosure.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">On
      March
      21, 2006, the Company released to media outlets a statement that is provided
      as
      Exhibit 99.2 to this current report, which is herein incorporated by reference.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Item
      9.01. </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Financial
      Statements and Exhibits.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;99.1</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Senior
      Management Agreement dated as of March 21, 2006, between Prestige Brands
      Holdings, Inc., Prestige Brands, Inc. and Peter C. Mann.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;99.2
      </font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Press
      Release dated March 21, 2006. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">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.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="justify" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Dated:
                  March 23, 2006</font></div>
              </td>
              <td align="justify" valign="top" width="8%">&#160;</td>
              <td align="justify" valign="top" width="39%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>PRESTIGE
                  BRANDS HOLDINGS, INC.</strong></font></div>
              </td>
            </tr>
            <tr>
              <td align="justify" valign="top" width="27%">&#160;</td>
              <td align="justify" valign="top" width="8%">&#160;</td>
              <td align="justify" valign="top" width="39%">&#160;</td>
            </tr>
            <tr>
              <td align="justify" valign="top" width="27%" style="border-bottom: #ffffff solid;">&#160;</td>
              <td align="justify" valign="top" width="8%" style="border-bottom: #ffffff solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">By:</font></div>
              </td>
              <td align="justify" valign="top" width="39%" style="border-bottom: black thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">/s/
                  Peter J. Anderson</font></div>
              </td>
            </tr>
            <tr>
              <td align="justify" valign="top" width="27%">&#160;</td>
              <td align="justify" valign="top" width="8%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Name:</font></div>
              </td>
              <td align="justify" valign="top" width="39%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Peter
                  J. Anderson</font></div>
              </td>
            </tr>
            <tr>
              <td align="justify" valign="top" width="27%">&#160;</td>
              <td align="justify" valign="top" width="8%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Title:</font></div>
              </td>
              <td align="justify" valign="top" width="39%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Chief
                  Financial Officer</font></div>
              </td>
            </tr>

        </table>
      </div>
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    <div>&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;5</font>
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{"company-data": {"conformed-name": "Prestige Brands Holdings, Inc.", "cik": "0001295947", "assigned-sic": "2834", "irs-number": "201297589", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32433", "film-number": "06706954"}, "business-address": {"street1": "90 NORTH BROADWAY", "city": "IRVINGTON", "state": "NY", "zip": "10533", "phone": "(914) 524-6810"}, "mail-address": {"street1": "90 NORTH BROADWAY", "city": "IRVINGTON", "state": "NY", "zip": "10533"}, "former-company": {"former-conformed-name": "Prestige Household Brands, Inc.", "date-changed": "20040630"}}
Form 8-K
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
Washington,
      DC 20549
FORM
      8-K
CURRENT
      REPORT
Pursuant
      to Section 13 of 15(d) of the
Securities
      Exchange Act of 1934
Date
      of
      report (Date of earliest event reported):
March
      21, 2006
PRESTIGE
      BRANDS HOLDINGS, INC.
(Exact
      name of registrant as specified in charter)
Delaware
001-32433
20-1297589
(State
                  or Other Jurisdiction
of
                  Incorporation)
(Commission
                  File Number)
(I.R.S.
                  Employer
Identification
                  No.)
90
        North Broadway, Irvington, New York 10533
(Address
        of Principal executive offices, including Zip Code)
(914)
        524-6810
(Registrant's
        telephone number, including area code)
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:
o
Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)
o
Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)
o
Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))
o
Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))
1
Item
      1.01.
Entry
      into a Material Definitive Agreement.
Agreement
      with Peter C. Mann
On
      March
      21, 2006, Prestige Brands Holdings, Inc. (the "Company") and Prestige Brands,
      Inc. ("Prestige Brands") entered into a Senior Management Agreement (the
"Agreement") with Peter C. Mann, effective as of March 1, 2006. Pursuant to the
      Agreement, Mr. Mann will continue to serve as Chief Executive Officer, Director
      and Chairman of the Board of Directors of the Company through March 31, 2006.
      On
      April 1, 2006, he will relinquish his position as Chief Executive Officer,
      but
      will continue to serve as a director and Chairman of the Board of Directors.
      The
      Agreement supersedes the Amended and Restated Senior Management Agreement,
      effective as of February 4, 2005, among Prestige International Holdings, LLC
      ("Prestige International"), the Company, Prestige Brands and Mr. Mann. The
      principal terms of the Agreement are summarized below.
Term.
The
      Agreement is effective as of March 1, 2006, and Mr. Mann's term of employment
      expires March 31, 2007, unless extended by the mutual agreement of the parties
      or terminated early.
Base
      Salary.
From
      March 1, 2006 until March 31, 2006, the Company will pay Mr. Mann an annual
      base
      salary of $442,000. Commencing April 1, 2006, Mr. Mann's annual base salary
      will
      be $225,000. The Board of Directors and Compensation Committee of the Company
      shall review the annual base salary of Mr. Mann and may increase it or decrease
      it as merited.
Bonus
      Eligibility.
Mr.
      Mann
      is eligible for a bonus for the fiscal year beginning April 1, 2006. His target
      bonus percentage shall be 75% of annual base salary, with a maximum potential
      bonus payment of 150% of annual base salary, based on such subjective and
      objective criteria as the Board of Directors, in conjunction with the
      Compensation Committee, of the Company shall from time to time
      adopt.
Vesting
      of Shares.
Under
      the terms of the Agreement, as of March 1, 2006, 140,686 shares of previously
      unvested common stock in the Company held by Mr. Mann vested. If Mr. Mann
      remains continuously employed with the Company, Prestige Brands or any of their
      respective subsidiaries until March 1, 2007, an additional 140,686 shares of
      Mr.
      Mann's unvested common stock will vest. If his employment is terminated after
      March 1, 2006 but prior to March 1, 2007, any unvested shares of common stock
      held by Mr. Mann shall become vested on a straight-line pro rata basis,
      according to the number of days elapsed since March 1, 2006, as compared to
      the
      number of days remaining until March 1, 2007.
Repurchase
      Rights.
The
      Company has the right to repurchase all or any portion of Mr. Mann's unvested
      shares of common stock should his employment with the Company, Prestige Brands
      or any of their respective subsidiaries cease, for a purchase price equal to
      the
      lesser of (i) original cost of the unvested shares to Mr. Mann and (ii) the
      fair
      market value of the unvested shares of common stock on the date the Company
      gives notice of repurchase.
2
Restrictive
      Covenants.
The
      Agreement imposes customary restrictive covenants prohibiting Mr. Mann's
      disclosure of confidential information. Mr. Mann assigns all work product and
      intellectual property accumulated while employed by the Company to the Company,
      Prestige Brands or any of their respective subsidiaries, and he agrees not
      to
      compete with the Company, Prestige Brands or any of their respective
      subsidiaries for the period ending February 6, 2010.
Agreement
      with Frank P. Palantoni
On
      March
      21, 2006, the Board of Directors of the Company approved the following
      compensatory arrangement for Frank P. Palantoni as of April 1, 2006, at which
      time Mr. Palantoni will become Chief Executive Officer and President of the
      Company. Effective April 1, 2006, Mr. Palantoni will receive an annual salary
      of
      $400,000 and a target bonus of 75% of his base salary for the fiscal year
      beginning April 1, 2006. Additionally, effective July 1, 2006 Mr. Palantoni
      shall be awarded a grant of restricted stock in the aggregate amount of
      $525,000. The actual number of shares of restricted stock shall be calculated
      by
      dividing such amount by the closing share price of the Company on July 1, 2006.
This
      compensatory arrangement serves as an amendment to the Executive Employment
      Agreement ("Employment Agreement") with Mr. Palantoni made as of August 4, 2005.
      In addition to the terms set forth above, the Employment Agreement provides
      for
      an initial grant of $400,000 worth of restricted stock (subject to vesting
      based
      upon certain earnings per share and revenue targets established by the
      Compensation Committee), and an initial stock option grant to purchase $800,000
      worth of common stock at $12.95 per share which vests in five equal annual
      installments beginning on August 4, 2006. A copy of Mr. Palantoni's Employment
      Agreement was filed as Exhibit 99.2 to the Company's Current Report on Form 8-K
      filed with the Securities and Exchange Commission on August 9, 2005.
Item
      1.02.
Termination
      of a Material Definitive Agreement.
Effective
      as of March 1, 2006, the Amended and Restated Senior Management Agreement among
      Prestige International, the Company, Prestige Brands and Peter C. Mann was
      superseded by the Agreement discussed in Item 1.01 of this Current Report on
      Form 8-K. Under the terms of the Amended and Restated Senior Management
      Agreement, Mr. Mann served as Chief Executive Officer for a base salary of
      $425,000 per annum and certain other benefits. Mr. Mann also was granted shares
      of restricted common stock in the Company which was subject to
      vesting.
Item
                5.02.
Departure
                of Directors or Principal Officers; Election of Directors; Appointment
                of
                Principal Officers.
On
      March
      21, 2006, the Company's Board of Directors adopted resolutions providing for the
      following changes in executive officers to occur on April 1, 2006:
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·
Frank
                P. Palantoni will relinquish his position as Chief Operating Officer
                of
                the Company and will become Chief Executive Officer of the Company.
                He
                will retain his position as President of the Company and will remain
                a
                member of the Board of Directors.
·
Peter
                C. Mann will relinquish his position as Chief Executive Officer of
                the
                Company. He will remain Chairman of the Board of
                Directors.
Mr.
      Palantoni, age 48, has served as President and Chief Operating Officer of the
      Company since August 2005 and as member of the Board of Directors since January
      2006. He has 22 years of experience with Fortune 100 companies in a variety
      of
      consumer goods industries and financial services. Mr. Palantoni was the
      President and CEO, Worldwide of Gerber Products Division, Novartis Infant and
      Baby Division from 2001 to August 2005. He held positions of increasing
      responsibility, including CEO of Novartis Consumer Health, North America, at
      Novartis Corporation from 1998 to 2001. Mr. Palantoni also held leading
      management positions at Groupe Danone and RJR Nabisco, Inc.
The
      material terms of Mr. Palantoni's employment arrangement with the Company are
      set forth in Item 1.01 of this Current Report on Form 8-K.
Item
      7.01.
Regulation
      FD Disclosure.
On
      March
      21, 2006, the Company released to media outlets a statement that is provided
      as
      Exhibit 99.2 to this current report, which is herein incorporated by reference.
Item
      9.01.
Financial
      Statements and Exhibits.
99.1
Senior
      Management Agreement dated as of March 21, 2006, between Prestige Brands
      Holdings, Inc., Prestige Brands, Inc. and Peter C. Mann.
99.2
Press
      Release dated March 21, 2006.
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SIGNATURE
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.
Dated:
                  March 23, 2006
PRESTIGE
                  BRANDS HOLDINGS, INC.
By:
/s/
                  Peter J. Anderson
Name:
Peter
                  J. Anderson
Title:
Chief
                  Financial Officer
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