NSE 2002 10-K Corey Lindley Letter of Understanding




May 30, 2002 




Corey B. Lindley
Nu Skin International, Inc.
75 West
Center Street


Provo, Utah 84601


Dear Corey, 


LETTER OF UNDERSTANDING


I am pleased to confirm your international assignment with Nu Skin
International Management Group, Inc. (NSIMG) effective August 8, 2002. You have
already received the following documents relating to this assignment for your
review. 


	<	 Expatriate
Compensation Profile 







	<	International
Assignment Policy for Expatriates 








	<	International
Assignment Tax Equalization Policy 







These documents represent NSIMG’s financial commitment to
you as well as other important policies related to your assignment. Additional
terms and conditions of your international assignment are as follows: 


1.     Position


	 	You
will continue as an NSE Executive Vice President. You will be directly accountable to
Steve Lund, CEO & President of NSE. Your primary responsibility will be to oversee the
strategies, development and operations in China, as well as continuing in your role as an
Executive Vice President. 






2.     Term


	 	The
assignment is for a period of two years, commencing on or about August 8, 2002. By mutual
written agreement the terms of the agreement may be extended, shortened or otherwise
modified. Upon satisfactory completion of your assignment the Company will use 













	 	 its best
efforts to assign you to a position comparable to the position held immediately prior to
the foreign assignment with the salary comparable to the salary earned prior to the
foreign assignment. 









3.     Compensation


	 	Your
annual base salary will remain at its current level with no international service premium.
Annual salary increases, if any, will be determined by the company. Your salary will be
paid to you on a bi-weekly basis along with the various differentials and allowances, as
indicated on the Expatriate Compensation Profile and subject to periodic review and
adjustment according to company policy. Your incentives and level at which you receive
those incentives will remain the same as stated in the Cash Incentive Plan. 






4.     Housing


	 	The
company will allow flexibility in the amount of the housing allowance to assist in
identifying a home that will be adequate for your family. In addition an employee housing
contribution will not be deducted from your bi-weekly pay during your term of service. 






5.     Location


	 	Your
residence and office shall be located in or near Shanghai and your work assignment area
shall consist of China, for the China portion of your work. 






6.     Passport/Visa/Work Permit


	 	The
Human Resources Department and the Company’s Travel Administrator at extension 3939
will assist you in obtaining these necessary documents at your earliest opportunity. 






7.     Travel and Auto


	 	Advance
fare, economy class air travel on the most direct routing is authorized for expatriation,
home leave, emergency leave and repatriation for you and your dependents. Schedule flights
through the Company’s Travel Administrator at extension 3939. You and your family are
also authorized for one additional home leave or trip authorization per year with the
first such trip taken approximately six months from the begginng of the assignment. The
cost of the economy class air travel for the additional annual trip should not exceed
$1,500 per ticket. 






	 	In
place of the transportation allowance the company will provide transportation for you and
your family at the assignment location. The company will also provide storage for your two
vehicles during the two year assignment. 














8.     Tax


	 	NSIMG’s
policy with respect to tax reimbursement is based on tax equalization. NSIMG expects its
employees to comply fully with all applicable tax laws in both the home and host
countries. With tax equalization, you will pay roughly the same amount in taxes that you
would have paid had you remained in your home country under similar circumstances.
PriceWaterhouseCoopers, a international accounting firm, will assist you in filing your
foreign and U.S. tax returns as outlined in the International Assignment Tax Equalization
Policy. 






9.     Resignation/Termination






	 	Either
party may terminate this agreement with four (4) weeks written notice. See the
International Assignment Policy for Expatriates for further details regarding other terms
related to resignation/termination. 






Please review the contents of this letter of understanding
carefully since it represents essential terms of your international assignment.
If the terms of this letter are agreeable to you, please sign the original copy
and return it to me. Should there be any questions pertaining to any element of
this letter, I or a member of my staff are ready to assist in answering them. 


Sincerely, 




/s/  Steven J. Lund         
               
               
               

Steven J. Lund

President & CEO Nu Skin Enterprises

Date: 5/30/2002








ACCEPTED:

/s/  Corey B. Lindley         
               
               
               

Corey B. Lindley

NSE Executive Vice President 

Date:  5/30/02