Document:

Maple Hills Promissory Note

PROMISSORY
NOTE

	$14,581,621.50	July 13, 1999

        FOR
VALUE RECEIVED, Nu Skin Enterprises, Inc., a Delaware corporation (the
“Maker”), promises to pay to Maple Hills Investment, Inc., a
Delaware corporation formerly known as Nu Skin USA, Inc. (the
“Holder”), at One Nu Skin Plaza, 75 West Center Street, Provo,
Utah 84601, or such other place as designated in writing by the Holder, the
aggregate principal amount of Fourteen Million Five Hundred Eighty-One Thousand
Six Hundred Twenty-One Dollars and 50/100 ($14,581,621.50). All capitalized
terms used in this Promissory Note (the “Note”) but not
otherwise defined herein shall be deemed to have the meanings ascribed to them
in the Big Planet Merger Agreement (as that term is defined in paragraph 5
below). 

1.    
    
Term. This Note shall be payable over three (3) years from
the date hereof in equal quarterly installments of principal and interest of One
Million Three Hundred Forty-Seven Thousand Two Hundred Seventy-Four Dollars and
38/100 ($1,347,274.38), subject to the right of the Maker to offset payments
hereunder as set forth in paragraph 6 below. The first quarterly installment of
principal and interest hereunder shall be due and payable on October 13, 1999,
and subsequent payments will be due and payable on the thirteenth day of each
three (3) month period thereafter until all principal and accrued interest
evidenced by this Note has been paid in full. 

2.    
    
Interest. The outstanding principal balance of this Note
shall accrue interest at six and one-half percent (6.50%) per annum, computed on
the basis of a year of 365 days for the actual number of days elapsed.
Notwithstanding any provision hereof, the total liability for payments in the
nature of interest shall not exceed the limits imposed by applicable law. 

3.    
    
Prepayment. The Maker may prepay all or any portion of the
outstanding principal balance of this Note, together with the full amount of any
accrued interest thereon through the date of prepayment, at any time without
premium or penalty and without prior notice to the Holder. No prepayment shall
relieve the Maker of its obligation to repay in full the outstanding aggregate
principal balance of this Note, together with all accrued interest hereon, on
the maturity date hereof as set forth in paragraph 1 above. Time is of the
essence of payment. 

4.    
     Application of Payments. All payments and
prepayments  made  hereunder  shall be  applied  first  toward the  payment  and
satisfaction of accrued but unpaid interest, if any, and second toward reduction
of the outstanding principal balance hereof.

5.    
        Issued   Pursuant   to   Big   Planet   Merger
Agreement.  This Note is non-negotiable and is being issued by the Maker
pursuant to the  Agreement  and Plan of Merger and  Reorganization  dated May 3,
1999,  entered into between and among the Maker,  Big Planet  Holdings,  Inc., a
Delaware corporation ("BP Holdings"),  Big Planet, Inc., a Utah corporation,  Nu
Skin USA, Inc., a Delaware corporation now known as Maple Hills Investment, Inc.
("Nu Skin USA"),  Richard W. King, an individual  ("King"),  Kevin V. Doman,  an
individual ("Doman"),  and Nathan W. Ricks, an individual ("Ricks"), as the same
has been  amended  by a First  Amendment  to  Agreement  and Plan of Merger  and
Reorganization   dated  July  9,  1999  (as  amended,  the  "Big  Planet  Merger
Agreement").  In lieu of  depositing  into  escrow  cash  proceeds to secure the
indemnification  and other obligations arising from, related to, or contemplated
by the Big Planet Merger Agreement or the Agreement and Plan of Merger dated May
3, 1999,  entered  into between and among the Maker,  NSC Sub,  Inc., a Delaware
corporation,  NSG Sub, Inc., a Delaware  corporation,  NSM Sub, Inc., a Delaware
corporation, NFB Sub, Inc., a Delaware corporation, Nu Skin Canada, Inc., a Utah
corporation, Nu Skin Guatemala, Inc., a Delaware corporation, Nu Skin Guatemala,
S.A., a Guatemalan corporation, Nu Skin Mexico, Inc., a Delaware corporation, Nu
Skin  Mexico,  S.A.  de  C.V.,  a  Mexican   corporation,   and  the  individual
stockholders   who  executed  the   signature   page  thereto  (the   "Affiliate
Merger

 Agreement"), or depositing
into the Escrow  created by the Escrow  Agreement (as those terms are defined in
the Asset Purchase  Agreement,  as that term is defined below)  additional  cash
proceeds from the transactions  arising from, related to, or contemplated by the
Asset  Purchase  Agreement  dated March 8, 1999 by and among the Maker,  Nu Skin
United States,  Inc., a Delaware  corporation ("Nu Skin United States"),  and Nu
Skin USA (the "Asset Purchase Agreement"),  the Holder agrees that the Maker may
offset against amounts due and owing under this Note as set forth in paragraph 6
below.

6.    
    
Offset. The Holder agrees that this Note and any payment
due hereunder may be offset by any amounts due and owing to the Maker or BP
Holdings or their respective Affiliates under the Big Planet Merger Agreement,
the Affiliate Merger Agreement, or the Asset Purchase Agreement, subject in all
respects, however, to (a) the Indemnification Limitation Agreement dated March
8, 1999, entered into by and among the Maker, Nu Skin United States, Nu Skin
International, Inc., a Utah corporation (“Nu Skin
International”), BP Holdings, Nu Skin USA, King, Doman, Ricks, and the
stockholders who executed the signature page thereto, and (b) the First
Amendment to Indemnification Limitation Agreement dated May 3, 1999, entered
into by and among the Maker, Nu Skin United States, Nu Skin International, BP
Holdings, Nu Skin USA, King, Doman, Ricks, and the stockholders who executed the
signature page thereto. In addition to offsetting amounts due and owing under
this Note for indemnification obligations, the Holder agrees that amounts due
and owing under this Note may be offset against for all adjustments to the
consideration under the Big Planet Merger Agreement, the Affiliate Merger
Agreement, and the Asset Purchase Agreement, and all other amounts from time to
time owing to the Maker or BP Holdings or any of their respective Affiliates
under the Big Planet Merger Agreement, the Affiliate Merger Agreement, or the
Asset Purchase Agreement. The Holder furthermore agrees that the Maker can, at
its election, offset against this Note any other amounts owed by the Holder to
Nu Skin International or any of its Affiliates. 

    
    6.1        
Offset Procedure. In the event the Maker desires to offset
any amount owed to it (or to BP Holdings or Nu Skin International or any of
their respective Affiliates), as provided by paragraph 6 above, the Maker shall
provide the Holder with a written notice of such offset (each, an
“Offset Notice”). Each Offset Notice shall be transmitted by
the Maker to the Holder either by personal delivery or first class registered or
certified mail, postage prepaid. Each Offset Notice shall set forth (a) the
dollar amount to be offset against this Note, (b) an indication of the agreement
or other obligation from which the offset arose and the relevant facts that
resulted in the Holder becoming obligated to the Maker and subject to an offset
against this Note under this paragraph 6, and (c) a place for the Holder to (i)
indicate its agreement or disagreement to the amount to be offset hereunder and
(ii) execute the same. 

    
        6.1.1    
    Agreement  on Offset Amount. If the Holder
is in agreement  with the amount to be offset against this Note, as set forth in
the Offset Notice, the Holder shall so indicate on and execute the Offset Notice
and return the  originally  executed  Offset Notice to the Maker within ten (10)
days after its receipt thereof. Upon the receipt by the Maker of such originally
executed Offset Notice  indicating the Holder's  agreement with the amount to be
offset against this Note,  the principal  amount of this Note shall be deemed to
be reduced by the amount set forth in the Offset Notice.

     
        6.1.2    
    No  Agreement  on  Offset  Amount.  If the
Holder is not in agreement  with the amount to be offset  against this Note,  as
set forth in the Offset  Notice,  the  Holder  shall so  indicate  on the Offset
Notice and return an unexecuted  copy thereof to the Maker with an indication of
all  relevant  facts  and  the  offset  amount  that  the  Holder   believes  is
appropriate,  if any.  The Maker and the  Holder  shall  then meet in good faith
during  the ten  (10) day  period  following  the  receipt  by the  Maker of the
Holder's  objection  and attempt to resolve  the  disagreement  and  determine a
mutually agreeable offset amount.  If, after  negotiation,  a mutually agreeable
offset  amount is agreed upon,  the  provisions  of paragraph  6.1.1 above shall
apply. If, however,  after such negotiation,  a mutually agreeable offset amount
cannot be mutually agreed upon between the Maker and the Holder, within ten (10)
days after the  conclusion of such

 -2-

 
negotiations  either the Maker or the Holder
may submit the matter to the American Arbitration  Association for resolution in
accordance  with  its  Commercial   Arbitration   Rules.  Any  such  arbitration
proceeding  shall be held in  Provo,  Utah  and be heard by a single  arbitrator
appointed  by the  American  Arbitration  Association,  which  hearing  shall be
commenced   within  fourteen  (14)  days  after  the  matter  is  submitted  for
arbitration and completed  within  forty-five  (45) days after the  commencement
thereof.  The decision of the American  Arbitration  Association shall be final,
binding, and non-appealable.  All costs and expenses of the American Arbitration
Association  and of such  proceeding  shall be divided equally between the Maker
and the Holder. Upon the rendering by the American Arbitration Association of it
determination  of the offset amount,  if any, the written  determination  of the
American  Arbitration  Association  shall be deemed to be the  agreement  by the
Holder of the  amount  to be offset  against  this  Note and the  provisions  of
paragraph 6.1.1 above shall otherwise apply.

7.    
    
Default. In the event of a failure by the Maker to pay when
due any installment of principal and/or interest due hereunder, as set forth in
paragraph 1 above, and the continuance of such failure to pay for a period of
thirty (30) days after receipt by the Maker of a written notice from the Holder
of such failure (which notice shall be transmitted either by personal delivery
or mailed by first class registered or certified mail, postage prepaid), this
Note shall be considered to be in default; provided, however, that a default
shall not be deemed to have occurred under this Note if the Maker does not pay
when due any installment of principal and/or interest due hereunder (or any
portion thereof) on account of an offset having been made under this Note
pursuant to paragraph 6 above. In the event of a default under this Note, the
Maker shall pay to the Holder, in addition to such amounts of principal and/or
interest then due, all costs of collection, including reasonable attorneys’
fees. 

 8.    
    8.Assignment.   This   Note   may  not  be
assigned,  negotiated,  or  transferred  by the Holder without the express prior
written consent of the Maker.

9.    
     Severability;
Headings. Should any provision of this Note be determined to be
illegal or unenforceable, such provision or provisions shall be modified to the
minimum extent necessary to make it or its application valid and enforceable,
and all other provisions hereof nevertheless shall be valid, enforceable, and
effective. All headings used in this Note are for convenience only and shall not
be used to construe or interpret this Note. Except as otherwise indicated, all
references herein to paragraphs refer to the paragraphs of this Note. 

10.     
    Interpretation;
Notices. The provisions of this Note shall be deemed to be
independent and severable. The invalidity or partial invalidity of any provision
or portion of this Note shall not affect the validity or enforceability of any
other provision or portion of this Note. All notices, requests, consents, or
other communications hereunder shall be in writing and shall be either delivered
personally or mailed by first class registered or certified mail, postage
prepaid. 

11.     
       Governing  Law.   This  Note  shall  be
governed by the internal  laws,  and not the laws of conflicts,  of the State of
Utah.

NU SKIN
ENTERPRISES, INC.,

                                                     a Delaware corporation

                                                     By:    /s/  Truman Hunt

                                                     Its:    Vice President

-3-1st Amendment to Credit Agreement

FIRST AMENDMENT

        THIS
FIRST AMENDMENT dated as of December 14, 2001 (this “Amendment”)
amends the Credit Agreement dated as of May 10, 2001 (the “Credit
Agreement”) among Nu Skin Enterprises, Inc. (the “Company”),
various financial institutions (the “Lenders”) and Bank of America,
N.A., as administrative agent (in such capacity, the “Administrative
Agent”). Terms defined in the Credit Agreement are, unless otherwise
defined herein or the context otherwise requires, used herein as defined
therein. 

    
       WHEREAS,   the   Company,   the   Lenders   and   the
Administrative Agent have entered into the Credit Agreement; and

     
      WHEREAS, the parties hereto desire to amend the Credit
Agreement in certain respects as more fully set forth herein;

    
     NOW, THEREFORE, the parties hereto agree as follows:

    
   SECTION 1        
 Amendments. Subject to the satisfaction of the conditions precedent set
forth in Section 3, the Credit Agreement shall be amended as follows. 

1.1     
    Amendment to
Preamble. The second “WHEREAS” clause is restated in its entirety
to read as follows: 

	 	        WHEREAS,
the Lenders are willing to extend commitments to make Loans to, and to issue or
participate in letters of credit issued for the account of, the Company
hereunder for the purposes provided herein and on the terms and subject to the
conditions set forth herein. 

    
    1.2         
Amendments to Definitions.

    
    (a)        
      The definition of "Eurodollar Loan" is amended
 in its entirety to read as follows:

	 	    
    Eurodollar
Loan means any Loan denominated in US Dollars which bears interest at a rate
determined by reference to the Eurodollar Rate (Reserve Adjusted). 

        (b)
         
Clause (c) of the definition of “Interest Period” is amended by
inserting the words “Dollar Equivalent” before the phrase
“principal amount of all Yen LIBOR Loans and Eurodollar Loans”
contained therein. 

    
    (c)        
  The definition of "Stated Amount" is amended in its
entirety to read as follows:

	 	
Stated Amount means, with respect to any Letter of Credit at any date of
determination, the maximum aggregate Dollar Equivalent amount available for
drawing thereunder at any time during the then ensuing term of such Letter of
Credit under any and all circumstances, plus the aggregate Dollar Equivalent
amount of all unreimbursed payments and disbursements under such Letter of
Credit.

     
       (d)         
  Clause   (b)  of  the   definition   of  "Total
Outstandings"  is amended in its  entirety  to read as follows:  "the  aggregate
Stated Amount of all Letters of Credit".

1.3     
    Addition of New
Section 1.3. A new Section 1.3 is added to the Credit Agreement in
appropriate numerical sequence to read as follows: 

	 	    
    1.3        
Currency Fluctuations. For purposes of calculating usage under Section
5 and the Total Outstandings as of any date (except as set forth in
Sections 6.2(c) and 11.2.1(d)), (a) the Dollar Equivalent amount
of each Yen LIBOR Loan shall be calculated (i) during the first year following
the Signing Date, using the Spot Rate of Exchange as in effect on the Signing
Date, and (ii) during each year thereafter, using the Spot Rate of Exchange as
in effect on the most-recent annual anniversary of the Signing Date (or if such
day is not a Business Day, on the next succeeding Business Day), and (b) the
Stated Amount of each Letter of Credit denominated in a currency other than
Dollars shall be calculated (i) on the date of the issuance thereof, (ii) on
each date on which the Stated Amount of such Letter of Credit is changed, (iii)
on each date on which the Commitment Amount is reduced pursuant to Section
6.1, or (iv) on any other date requested by the applicable Issuing Lender,
in each case based upon the Spot Rate of Exchange for such date. 

    
    1.4         
 Amendment to
Section 2.1.2. Clause (b)(ii) of Section 2.1.2 is amended by inserting the
words “Dollar Equivalent” before the phrase “principal amount of
all outstanding Loans” contained therein. 

    
    1.5        
  Amendment to Section 2.3.1.  The second sentence of
Section 2.3.1 is amended in its entirety to read as follows:

	 	
Each such notice shall be accompanied by an L/C Application, duly executed by the
Company (together with any Subsidiary for the account of which the related
Letter of Credit is to be issued) and in all respects satisfactory to the
Administrative Agent and the applicable Issuing Lender, together with such other
documentation as the Administrative Agent or such Issuing Lender may 

-2-

	 	
reasonably request in support thereof, it being understood that each L/C Application shall
specify, among other things, the date on which the proposed Letter of Credit is
to be issued, the amount (which shall be denominated in Dollars or any other
foreign currency (i) as to which a Dollar Equivalent may be readily calculated,
(ii) which is readily available, freely transferable and convertible into
Dollars and (iii) has been agreed to by the Issuing Lender), whether such Letter
of Credit is to be transferable in whole or in part and the expiration date of
such Letter of Credit (which shall not be later than the Termination Date and
shall not result in the aggregate Stated Amount of all Letters of Credit
scheduled to be outstanding after any date on which the Commitment Amount is
scheduled to be reduced pursuant to Section  6.1(d), plus the
aggregate Dollar Equivalent principal amount of all Yen LIBOR Loans and
Eurodollar Loans having Interest Periods ending after such date, to exceed the
Commitment Amount scheduled to be in effect at the close of business on such
date).

    
    1.6         
 Amendment to
Section 5.1. The second sentence of Section 5.1 is amended by inserting the
words “Dollar Equivalent” before the phrase “principal amount of
all outstanding Loans” contained therein. 

    
    1.7        
 Amendments to
Section 5.3. Section 5.3 is amended by (a) inserting the words “Dollar
Equivalent” immediately before the phrase “undrawn amount of such
standby Letter of Credit” contained in clause (a) of that section and (b)
inserting the words “Dollar Equivalent” immediately after the phrase
“the greater of 0.125% of the” contained in clause (b) of that
section. 

    
    1.8        
  Amendments to Section 6.2.  Section 6.2 is amended as follows:

    
    (a)        
      Clause (a) is restated in its entirety to read as follows:

	 	   
     (a)        
Voluntary Prepayments. The Company may from time to time prepay the Loans
in whole or in part; provided that the Company shall give the
Administrative Agent (which shall promptly advise each Lender) notice thereof
not later than 11:00 A.M., New York time, (i) in the case of Floating Rate
Loans, on the day of such prepayment, (ii) in the case of Yen LIBOR Loans, at
least five Business Days prior to the date of such prepayment, and (iii) in the
case of Eurodollar Loans, at least three Business Days prior to the date of such
prepayment, in each case specifying the Loans to be prepaid and the date (which
shall be a Business Day) and amount of prepayment. Each partial prepayment of
Floating Rate Loans and Eurodollar Loans shall be in an aggregate principal
amount of $1,000,000 or an integral multiple thereof and each partial prepayment
of Yen LIBOR Loans shall be in an aggregate principal amount of ¥100,000,000
or an integral multiple thereof. After giving effect to any partial prepayment,
each borrowing of Yen LIBOR Loans and Eurodollar Loans shall be in the
applicable amount required for a Group pursuant to Section 2.2.1. 

-3-

    
    (b)         
      The heading of clause (b) is restated in its entirety to read "Mandatory Prepayments Resulting
 from Commitment Reductions".

    
             (c)        
      Clause "(c)" is redesignated as clause "(d)".

    
        (d)        
      A new clause (c) is added to Section 6.2 to read as follows:

	 	   
     (c)
Mandatory Prepayments Resulting from Currency Fluctuations. If, as of the
last Business Day of any month, the Total Outstandings (calculated (i) with
respect to Yen LIBOR Loans, using the Spot Rate of Exchange for such day and
(ii) with respect to Letters of Credit, as provided in Section 1.3(b))
exceed 110‰ of the Commitment Amount, (x) the Administrative Agent shall
promptly notify the Company and (y) the Company shall, within seven Business
Days following the receipt of such notice, prepay Loans by the amount of such
excess (rounded upward, if necessary, to an integral multiple of (A) in the case
of Floating Rate Loans and Eurodollar Loans, $1,000,000 and (B) in the case of
Yen LIBOR Loans, ¥100,000,000). 

1.9     
    Addition of New
Section 11.2.1(d). A new Section 11.2.1(d) is added to the Credit Agreement
in appropriate sequence to read as follows: 

	 	   
     (d)        
after giving effect to any borrowing made and any Letter of Credit issued during
the period beginning on the date that a prepayment is required pursuant to
Section  6.2(c) and ending on the immediately following May 10, the Total
Outstandings (calculated (i) with respect to Yen LIBOR Loans, using the Spot
Rate of Exchange for the date such prepayment was required and (ii) with respect
to Letters of Credit, as provided in Section 1.3(b)) shall not exceed the
Commitment Amount. 

SECTION 2    
    
Warranties. The Company represents and warrants to the Administrative Agent
and the Lenders that, after giving effect to the effectiveness hereof, (a) each
warranty set forth in Section 9 of the Credit Agreement is true and correct in
all material respects as of the date of the execution and delivery of this
Amendment by the Company, with the same effect as if made on such date, and (b)
no Event of Default or Unmatured Event of Default exists. 

SECTION 3    
    
Effectiveness. The amendments set forth in Section 1 above shall
become effective when the Administrative Agent shall have received (i)
counterparts of this Amendment executed by the Company and the Required Lenders
and (ii) a Confirmation, substantially in the form of Exhibit A, signed
by the Company and each Subsidiary. 

-4-

    
    SECTION 4    
        Miscellaneous.

4.1    
      Continuing
Effectiveness, etc. As herein amended, the Credit Agreement shall remain in
full force and effect and is hereby ratified and confirmed in all respects.
After the effectiveness of this Amendment, all references in the Credit
Agreement and the other Loan Documents to “Credit Agreement” or
similar terms shall refer to the Credit Agreement as amended hereby. 

4.2     
     Counterparts.
This Amendment may be executed in any number of counterparts and by the
different parties on separate counterparts, and each such counterpart shall be
deemed to be an original but all such counterparts shall together constitute one
and the same Amendment. 

4.3    
      Governing
Law. This Amendment shall be a contract made under and governed by the laws
of the State of New York (without regard to principles of conflicts of laws,
other than Title 15 of Article 5 of the New York General Obligations Law). 

4.4    
      Successors and
Assigns. This Amendment shall be binding upon the Company, the Lenders and
the Administrative Agent and their respective successors and assigns, and shall
inure to the benefit of the Company, the Lenders and the Administrative Agent
and the respective successors and assigns of the Lenders and the Administrative
Agent. 

-5-

    
             Delivered as of the day and year first above written.

NU SKIN ENTERPRISES, INC.

By  /s/  Corey B. Lindley

Title  CFO, Executive Vice President

BANK OF AMERICA, N.A., as Administrative

 Agent and as a
Lender

By  /s/  Gretchen Spoo

Title  Principal

BANK ONE, NA with its main office in Chicago,

 Illinois (successor by merger to Bank

One, Utah, NA)

By  /s/  Mark F. Nelson

Title  Vice President

S-1

Exhibit A

CONFIRMATION

                                           Dated as of December 14, 2001

To:  Bank of America, N.A.,
individually  and as  Administrative  Agent (as  defined  below),  and the other
financial   institutions   party   to   the   Credit   Agreement   referred   to
below

        Please
refer to (a) the Credit Agreement dated as of May 10, 2001 (the “Credit
Agreement”) among Nu Skin Enterprises, Inc., various financial institutions
(the “Lenders”) and Bank of America, N.A., as administrative agent
(the “Administrative Agent”); (b) the other “Loan Documents”
(as defined in the Credit Agreement), including the Guaranty and the Pledge
Agreement; and (c) the First Amendment dated as of December 14, 2001 to the
Credit Agreement (the “First Amendment”). 

    
       Each  of  the  undersigned  hereby  confirms  to  the
Administrative  Agent and the Lenders  that,  after  giving  effect to the First
Amendment and the transactions contemplated thereby, each Loan Document to which
such undersigned is a party continues in full force and effect and is the legal,
valid and binding  obligation  of such  undersigned,  enforceable  against  such
undersigned in accordance with its terms. 

 
 NU SKIN ENTERPRISES, INC.

  By:  /s/  Corey B. Lindley

  Name:  Corey B. Lindley

  Title:  CFO, Vice President

  NU SKIN INTERNATIONAL, INC.

  NU SKIN HONG KONG, INC.

  NU SKIN TAIWAN, INC.

  NU SKIN UNITED STATES, INC.

By:  /s/  Corey B. Lindley

  Name:  Corey B. Lindley

  Title:  CFO, Vice President

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