Document:

thg-ex1029_116.htm

Exhibit 10.29

 

December 2, 2019

Dennis Kerrigan

[Address]

[Address]

 

Dear Dennis,

I am pleased to confirm the details of our offer of employment to join The Hanover Insurance Group, Inc. (the "Company" or "The Hanover"). As we discussed, you will join The Hanover on or about January 6, 2020, with the title Executive Vice President, Deputy General Counsel, reporting to Mr. Jack Roche, President and Chief Executive Officer of The Hanover. Following Mr. Huber's retirement, scheduled for April 1, 2020, you will assume the title and responsibilities of General Counsel. You will have such duties and responsibilities as shall be assigned to you by Mr. Roche. The terms of your employment are as follows:

 

	
 
	
1.
	
Base Salary: Effective on the date you commence employment with The Hanover (your "Employment Date"), your salary will be payable in bi-weekly installments which annualize to $510,000.
	
 

	
 
	
2.
	
Short-Term Incentive Compensation (“STIC”):
	
 

2020 STIC Award

Your 2020 STIC target award will equal 75% of your base salary ($382,500). Actual payouts, however, may range from 0% to 200% of target depending upon your individual performance and The Hanover's performance against certain preestablished performance criteria approved by the Compensation Committee.

Terms and Conditions

The terms and conditions of our annual STIC programs, and amounts payable thereunder, are established by the Compensation Committee of the Board of Directors (the "Compensation Committee") in its sole discretion. Any STIC payment, including the 2020 STIC Award, is contingent upon you being employed at The Hanover at the time the payment is made and is subject to the terms and conditions of the program.

 

November 27, 2019

Dennis Kerrigan

Page 2

 

	
 
	
3.
	
Long-Term Incentive Compensation (“LTIC”)

2020 LTIC Award

Effective Q1 2020, you will be granted an LTIC equity award with an estimated fair value on the date of grant of approximately $500,000 (the "2020 Award").

The actual mix, terms and timing of such award will be determined by the Compensation Committee. The grant of any of the foregoing equity LTIC awards shall be subject to the terms of The Hanover Insurance Group 2014 Long-Term Incentive Plan and the applicable grant agreements.

	
 
	
4.
	
Relocation: To support your transition into your new role and your relocation efforts, we are pleased to offer you a lump sum payment for relocation assistance in the amount of $150,000. This payment will be made as soon as practical following your commencement of employment. The payment is taxable and is not eligible for a 401(k) company match or a non-qualified excess award. If you do not relocate, choose not to start your employment with the Company, you voluntarily terminate (except for Good Reason, as defined and subject to the procedures described in paragraph 8 below), or your employment is terminated by The Hanover for cause, which for this purpose is defined as unlawful, willful or gross misconduct, including, but not limited to, a violation of The Hanover's Code of Conduct or policies, within twenty-four (24) months from your start date, you will be obligated to repay 100% of the payment.
	
 

	
 
	
5.
	
Benefits: You will be eligible to participate in The Hanover's benefit programs, including, but not limited to, Group Medical, Dental, Life, Short and Long-Term Disability Insurance, The Hanover Insurance Group Retirement Savings Plan, and our Non-Qualified Retirement Savings Plan. Eligibility for and entitlements to benefits are determined by the terms and conditions of the applicable benefit plans, as they may be amended from time to time.
	
 

	
 
	
6.
	
You will be eligible to earn 25 days (193.75 hours at 7.75 hours per day) of Paid Time Off (PTO) annually. PTO time for 2020 will be prorated based on the month of your start date.
	
 

	
 
	
7.
	
You will be eligible to participate in the financial planning and matching gifts programs currently available to other senior executives.
	
 

	
 
	
8.
	
Severance Protection:
	
 

Change in Control

You will be eligible to participate in The Hanover Insurance Group, Inc. Amended and Restated Employment Continuity Plan (the "Change in Control Plan"), in accordance with the terms thereof, as an "Executive Tier Participant" with a 1.5X "Multiplier" but without a Section 280G excise tax "gross up" and on a "best net" basis instead. Participation in the Change in Control Plan requires agreement to certain nonsolicitation, non-interference, confidentiality and other covenants as set forth in the plan, which are applicable whether or not such benefits become available, and no benefits shall be payable unless the Company receives a waiver and release and other terms and conditions of the Change in Control Plan are satisfied.

 

November 27, 2019

Dennis Kerrigan

Page 3

Other Involuntary Termination

If (i) your employment with The Hanover is involuntarily terminated, other than in connection with your death, disability, a "Change in Control" or for "Cause" (as such terms are defined in Change in Control Plan), or (ii) you voluntarily terminate your employment for "Good Reason" (as defined below), you will be eligible to receive a cash severance payment (the "Severance Payment") equal to one (1) times your then current annual base salary and target bonus.

The Severance Payment will be payable in a single lump sum payment to be paid on a date that is sixty days after your termination of employment, provided that you execute and return to the Company a separation agreement that is acceptable to the Company (the "Separation Agreement") and is irrevocable by the payment date. The Separation Agreement will contain a full release and non-disparagement provision, along with such other terms acceptable to the Company.

For purposes of this letter, the term "Good Reason" shall mean the occurrence, without your express written consent, of any of the following (i) any material and adverse change in your duties or responsibilities that result in you no longer reporting directly to the Chief Executive Officer of the Company; (ii) a reduction in your current rate of annual base salary; or (iii) a reduction in your current annual short-term incentive compensation plan target award opportunity (but excluding the conversion of any cash incentive arrangement, in whole or in part, into an equity incentive arrangement of commensurate target value or vice versa); or (iv) any requirement that you relocate to an office more than 50 miles from the Company's home office in Worcester, Massachusetts. Notwithstanding the foregoing with respect to subsection (ii) and (iii) above, reductions to your base salary and/or target annual short-term incentive compensation opportunity of less than 10% shall not be deemed "Good Reason" if such reductions are applied to all management personnel in comparable positions at the Company. In addition, "Good Reason" shall include you not being formally appointed to the position of General Counsel (which position shall constitute the chief legal officer of the Company) on or before April 2, 2020, provided you remain ready, willing and able to assume such responsibilities as of such date and no event constituting Cause has occurred prior thereto.

In the event you believe that a "Good Reason" event has been triggered, you must give the Company written notice within 30 days of the first occurrence of such triggering event and a proposed termination date which shall be not sooner than 60 days nor later than 90 days after the date of such notice. Such notice shall specify your basis for determining that "Good Reason" has been triggered. The Company shall have the right to cure a purported "Good Reason" within 30 days of receipt of said notice.

	
 
	
9.
	
Covenants and Other Agreements: The Hanover has certain conditions to employment which apply to all of its officers and senior employees. Accordingly, as a condition of your employment with the Company, you agree that you will (i) not, directly or indirectly, during the term of your employment with The Hanover, and for a period of one year thereafter, hire, solicit, entice away or in any way interfere with The Hanover's relationship with, any of its officers or employees, or in any way attempt to do so or participate with, assist or encourage a third party to do so; (ii) at all times, neither disclose any of The Hanover's confidential or proprietary information to any third party, nor use such information for any purpose other than for the benefit of The Hanover and in accordance with Hanover policy; (iii) not, during the term of your employment with The Hanover, and for a period of one year thereafter, interfere with or seek to interfere with, The Hanover's relationships with any of its policyholders, customers, clients, agents or 
	
 

 

November 27, 2019

Dennis Kerrigan

Page 4

	
 
		
vendors; and (iv) at all times, comply with The Hanover's Code of Conduct and other policies and procedures as in effect from time to time. For the purposes of this provision, "confidential" or "proprietary" information shall include any information concerning the business, prospects, and goodwill of The Hanover including, by way of illustration and not limitation, all information (whether or not patentable or copyrightable) owned, possessed or used by The Hanover including, without limitation, any agent or vendor information, client information, potential agent or client lists, trade secrets, reports, technical data, computer programs, software documentation, software development, marketing or business plans, unpublished financial information, budgeting/price/cost information or agent, broker, employee or insured's lists or compensation information, except to the extent such information is otherwise legally and publicly available.
	
 

	
 
	
10.
	
Representations and Other Considerations: Please be advised that to the extent you are subject to any employment or contractual obligations to prior employer(s), the Company expects you to comply with such obligations and to inform the Company accordingly. The Hanover respects its competitors' trade secrets and confidential information. Please do not bring with you any confidential information or proprietary information from any of your prior employers, and please do not use such information at any time, in any way, during the course of your employment with The Hanover.
	
 

You represent that you have provided The Hanover with copies of any agreement or employment policies, including any code of conduct or similar policies, that may set forth any continuing obligations to such prior employer(s), and that you are not aware of any agreement or employment policy of any kind that will prevent you from fulfilling, or that in any way could interfere or adversely affect your ability to fulfill, your responsibilities to The Hanover in the capacities contemplated. You represent that you have no reason to believe that any regulatory authority in the U.S., including, but not limited to the U.S. Securities and Exchange Commission and various state departments of insurance, would object to you becoming an officer and director of The Hanover or of any of its insurance and non-insurance subsidiaries. You also represent that you are not aware of any other impediment to your ability to fulfill the responsibilities contemplated as Executive Vice President, General Counsel of The Hanover or any of its subsidiaries.

	
 
	
11.
	
Miscellaneous:
	
 

Electronic Payment: As a condition of employment, all employees are paid through Electronic Funds Transfer (EFT).

Employment Eligibility: Under the Federal immigration law, you will be required to complete an 1-9 form verifying your employment eligibility in the United States on or prior to your Employment Date. We will provide you with a list of acceptable forms of documentation.

At-Will Employment Relationship: This offer letter briefly summarizes some of the terms and conditions of your employment. This letter is not and should not be construed as an employment contract. Employment at The Hanover is at-will. This means that you or the Company can terminate the employment relationship at any time, for any reason or no reason at all, with or without cause or notice.

 

November 27, 2019

Dennis Kerrigan

Page 5

Entire Agreement; Governing Law: This letter agreement sets forth the entire agreement between you and the Company and replaces all prior and contemporaneous communications, agreements and understandings, written or oral, with respect to the terms and conditions of your employment. This letter agreement and your employment relationship shall be governed by the laws of Massachusetts, without regard to the law of conflicts.

Company Policies: You shall be subject to the Company's policies as in effect from time to time, including stock ownership guidelines applicable to executive officers (unvested TBRSUs and PBRSUs [at target] count toward requirement), Insider Trading Policy, Policy Regarding Recoupment of Formulae-Based Performance Compensation, and policies relating to hedging and pledging of securities linked to The Hanover.

Withholding: All payments made by the Company under this agreement shall be reduced by any tax or other amounts required to be withheld by the Company under applicable law.

Definitions: The terms the "Company" and "The Hanover" shall include, depending on the context, the direct and indirect subsidiaries of The Hanover Insurance Group, Inc.

Dennis, we are truly excited about your decision to join The Hanover and look forward to our future together.

Sincerely,

 

	
/s/ Adria Thompson

	
Adria Thompson

	
Head of Executive Recruiting Office of Talent Acquisition

 

 

 

	
Accepted and Agreed:
	
 

	
 
	
 

	
/s/ Dennis F. Kerrigan
	
December 2, 2019

	
Dennis F. Kerrigan
	
Dateex4-1

 

Exhibit 4.1

 

NEITHER
THIS WARRANT NOR THE SHARES OF COMMON STOCK ISSUABLE ON EXERCISE OF
THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OR ANY
OTHER SECURITIES LAWS (THE “ACTS”). NEITHER THIS
WARRANT NOR THE SHARES OF COMMON STOCK PURCHASABLE HEREUNDER MAY BE
SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF (A) AN
EFFECTIVE REGISTRATION STATEMENT FOR THIS WARRANT OR COMMON STOCK
PURCHASABLE HEREUNDER, AS APPLICABLE, UNDER THE ACTS, OR (B) AN
OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE CORPORATION THAT
REGISTRATION IS NOT REQUIRED UNDER SUCH ACTS.

 

YOUNGEVITY INTERNATIONAL, INC.

 

WARRANT
AGREEMENT

 

VOID AFTER 5:00 P.M. NEW YORK TIME, MAY 18, 2023

 

 

Issue
Date: February 18, 2021

 

1. Basic Terms. This Warrant
Agreement (the “Warrant”) certifies that, for value
received, the registered holder specified below or its registered
assigns (“Holder”) is the owner of a warrant of
Youngevity International, Inc., a Delaware corporation having its
principal place of business at 2400 Boswell Road, Chula Vista,
California 91914 (the “Corporation”), subject to
adjustments as provided herein, to purchase one hundred fifty
thousand (150,000) shares of the Common Stock, $0.001 par value, of
the Corporation (the “Common Stock”) from the
Corporation at the price per share shown below (the “Exercise
Price”).

 

Holder:                                                      

JOY PIPE USA
LP

 

Exercise Price
pershare:   

$1.00

 

Except
as specifically provided otherwise, all references in this Warrant
to the Exercise Price and the number of shares of Common Stock
purchasable hereunder shall be to the Exercise Price and number of
shares after any adjustments are made thereto pursuant to this
Warrant.

 

2. Corporation’s
Representations/Covenants. The Corporation represents and
covenants that the shares of Common Stock issuable upon the
exercise of this Warrant shall at delivery be fully paid and
non-assessable and free from taxes, liens, encumbrances and charges
with respect to their purchase. The Corporation shall take any
necessary actions to assure that the par value per share of the
Common Stock is at all times equal to or less than the then current
Exercise Price per share of Common Stock issuable pursuant to this
Warrant. The Corporation shall at all times reserve and hold
available sufficient shares of Common Stock to satisfy all
conversion and purchase rights of outstanding convertible
securities, options and warrants of the Corporation, including this
Warrant.

 

3. Method of Exercise; Fractional
Shares. The Holder shall have the right to exercise the
Warrant at the times and for the number of shares of Common Stock
set forth in the preceding sentence by surrendering this Warrant,
on any business day during the period (the “Exercise
Period”) beginning on the Issue Date of this Warrant
specified above and ending at 5:00 p.m. (New York time) on May 18,
2023 after the issue date (the “Termination Date”). To
exercise this Warrant, the Holder shall surrender this Warrant at
the principal office of the Corporation or that of the duly
authorized and acting transfer agent for its Common Stock, together
with the executed exercise form (substantially in the form of that
attached hereto) and together with payment by wire transfer or cashier's
check drawn on a United States bank for the Common Stock
purchased under this Warrant. The principal office of the
Corporation is located at the address specified in Section 1 of
this Warrant; provided, however, that the Corporation
may change its principal office upon notice to the Holder. Payment
shall be made by check payable to the order of the Corporation or
by wire transfer. This Warrant is not exercisable with respect to a
fraction of a share of Common Stock. In lieu of issuing a fraction
of a share remaining after exercise of this Warrant as to all full
shares covered by this Warrant, the Corporation shall either at its
option (a) pay for the fractional share cash equal to the same
fraction at the fair market price for such share; or (b) issue
scrip for the fraction in the registered or bearer form which shall
entitle the Holder to receive a certificate for a full share of
Common Stock on surrender of scrip aggregating a full
share.

 

 

 

 

 

 

4. Protection Against Dilution. If
the Corporation, with respect to the Common Stock, (1) pays a
dividend or makes a distribution on shares of Common Stock that is
paid in shares of Common Stock or in securities convertible into or
exchangeable for Common Stock (in which latter event the number of
shares of Common Stock initially issuable upon the conversion or
exchange of such securities shall be deemed to have been
distributed), (2) subdivides outstanding shares of Common Stock,
(3) combines outstanding shares of Common Stock into a smaller
number of shares, or (4) issues by reclassification of Common Stock
any shares of capital stock of the Corporation, the number of
shares as to which this Warrant is exercisable as of the date of
such event and the Exercise Price in effect immediately prior
thereto shall be adjusted so that each Holder thereafter shall be
entitled to receive the number and kind of shares of Common Stock
or other capital stock of the Corporation that it would have owned
or been entitled to receive in respect of this Warrant immediately
after the happening of any of the events described above had this
Warrant been converted immediately prior to the happening of that
event; provided that the aggregate purchase price payable for the
total numbers of shares of Common Stock purchasable under this
Warrant shall remain the same. An adjustment made in accordance
with this section shall become effective immediately after the
record date, in the case of a dividend, and shall become effective
immediately after the effective date, in the case of a subdivision,
combination, or reclassification. If, as a result of an adjustment
made in accordance with this Section 4, the Holder becomes entitled
to receive shares of two or more classes of capital stock or shares
of Common Stock and other capital stock of the Corporation, the
board of directors (whose determination shall be conclusive) shall
determine the allocation of the adjusted Exercise Rate between or
among shares of such classes of capital stock or shares of Common
Stock and other capital stock.

 

5. Adjustment for Reorganization,
Consolidation, Merger. In the event of any consolidation or
merger to which the Corporation is a party other than a
consolidation or merger in which the Corporation is the continuing
corporation, or the sale or conveyance to another corporation of
the property of the Corporation as an entirety or substantially as
an entirety or any statutory exchange of securities with another
corporation (including any exchange effected in connection with a
merger of a third corporation into the Corporation) (each such
transaction referred to herein as “Reorganization”), no
adjustment of exercise rights or the Exercise Price shall be made;
provided,
however, the Holder
shall thereupon be entitled to receive if the Holder chooses to
exercise the Warrant within ten days of the notice of the
Reorganization and provision shall be made therefor in any
agreement relating to a Reorganization, the kind and number of
securities or property (including cash) of the corporation
resulting from such consolidation or surviving such merger or to
which such properties and assets shall have been sold or otherwise
transferred or with whom securities have been exchanged, which the
Holder would have owned or been entitled to receive as a result of
such Reorganization had this Warrant been exercised immediately
prior to such Reorganization (and assuming the Holder failed to
make an election, if any was available, as to the kind or amount of
securities, property or cash receivable by reason of such
Reorganization; provided that if the kind or amount of securities,
property or cash receivable upon such Reorganization is not the
same for each share of Common Stock in respect of which such rights
of election shall not have been exercised (“non electing
share”) then for the purpose of this section the kind and
amount of securities, property or cash receivable upon such
Reorganization for each non electing share shall be deemed to be
the kind and amount so receivable per share by a plurality of the
non electing shares). In any case, appropriate adjustment shall be
made in the application of the provisions herein set forth with
respect to the rights and interests thereafter of the Holder, to
the end that the provisions set forth herein (including the
specified changes and other adjustments to the conversion rate)
shall thereafter be applicable, as nearly as reasonably may be, in
relation to any shares, other securities or property thereafter
receivable upon exercise of this Warrant. The provisions of this
section similarly apply to successive Reorganizations.

 

6. Notice of Adjustment. On the
happening of an event requiring an adjustment of the Exercise Price
or the shares purchasable under this Warrant, the Corporation
shall, within thirty (30) business days, give written notice to the
Holder stating the adjusted Exercise Price and the adjusted number
and kind of securities or other property purchasable under this
Warrant resulting from the event and setting forth in reasonable
detail the method of calculation and the facts upon which the
calculation is based.

 

 

 

 

 

 

7. Dissolution, Liquidation. In
case of the voluntary or involuntary dissolution, liquidation or
winding up of the Corporation (other than in connection with
reorganization, consolidation, merger, or other transaction covered
by paragraph 5 above) is at any time proposed; the Corporation
shall give at least thirty days prior written notice to the Holder.
Such notice shall contain: (a) the date on which the transaction is
to take place; (b) the record date (which shall be at least thirty
(30) days after the giving of the notice) as of which holders of
Common Stock will be entitled to receive distributions as a result
of the transaction; (c) a brief description of the transaction, (d)
a brief description of the distributions to be made to holders of
Common Stock as a result of the transaction; and (e) an estimate of
the fair value of the distributions. On the date of the
transaction, if it actually occurs, this Warrant and all rights
under this Warrant shall terminate.

 

8. Rights of Holder. The
Corporation shall deliver to the Holder all notices and other
information provided to its holders of shares of Common Stock or
other securities which may be issuable hereunder concurrently with
the delivery of such information to the holders. This Warrant does
not entitle the Holder to any voting rights or, except for the
foregoing notice provisions, any other rights as a shareholder of
the Corporation. No dividends are payable or will accrue on this
Warrant or the shares of Common Stock purchasable under this
Warrant until, and except to the extent that, this Warrant is
exercised. Upon the surrender of this Warrant and payment of the
Exercise Price as provided above, the person or entity entitled to
receive the shares of Common Stock issuable upon such exercise
shall be treated for all purposes as the record holder of such
shares as of the close of business on the date of the surrender of
this Warrant for exercise as provided above. Upon the exercise of
this Warrant, the Holder shall have all of the rights of a
shareholder in the Corporation.

 

9. Exchange for Other
Denominations. This Warrant is exchangeable, on its
surrender by the Holder to the Corporation, for a new Warrant of
like tenor and date representing in the aggregate the right to
purchase the balance of the number of shares purchasable under this
Warrant in denominations and subject to restrictions on transfer
contained herein, in the names designated by the Holder at the time
of surrender.

 

10. Substitution. Upon receipt by
the Corporation of evidence satisfactory (in the exercise of
reasonable discretion) to it of the ownership of and the loss,
theft or destruction or mutilation of the Warrant, and (in the case
or loss, theft or destruction) of indemnity satisfactory (in the
exercise of reasonable discretion) to it, and (in the case of
mutilation) upon the surrender and cancellation thereof, the
Corporation will issue and deliver, in lieu thereof, a new Warrant
of like tenor.

 

11. Restrictions on Transfer.
Neither this Warrant nor the shares of Common Stock issuable on
exercise of this Warrant have been registered under the Securities
Act or any other securities laws (the “Acts”). Neither
this Warrant nor the shares of Common Stock purchasable hereunder
may be sold, transferred, pledged or hypothecated in the absence of
(a) an effective registration statement for this Warrant or Common
Stock purchasable hereunder, as applicable, under the Acts, or (b)
an opinion of counsel reasonably satisfactory to the Corporation
that registration is not required under such Acts. If the Holder
seeks an opinion as to transfer without registration from
Holder’s counsel, the Corporation shall provide such factual
information to Holder’s counsel as Holder’s counsel
reasonably requests for the purpose of rendering such opinion. Each
certificate evidencing shares of Common Stock purchased hereunder
will bear a legend describing the restrictions on transfer
contained in this paragraph unless, in the opinion of counsel
reasonably acceptable to the Corporation, the shares need no longer
to be subject to the transfer restrictions.

 

12. Transfer. Except as otherwise
provided in this Warrant, this Warrant is transferable only on the
books of the Corporation by the Holder in person or by attorney, on
surrender of this Warrant, properly endorsed.

 

13. Recognition of Holder. Prior to
due presentment for registration of transfer of this Warrant, the
Corporation shall treat the Holder as the person exclusively
entitled to receive notices and otherwise to exercise rights under
this Warrant. All notices required or permitted to be given to the
Holder shall be in writing and shall be given by first class mail,
postage prepaid, addressed to the Holder at the address of the
Holder appearing in the records of the Corporation.

 

 

 

 

 

 

14. Payment of Taxes. The
Corporation shall pay all taxes and other governmental charges,
other than applicable income taxes, that may be imposed with
respect to the issuance of shares of Common Stock pursuant to the
exercise of this Warrant.

 

15. Headings. The headings in this
Warrant are for purposes of convenience in reference only, shall
not be deemed to constitute a part of this Warrant and shall not
affect the meaning or construction of any of the provisions of this
Warrant.

 

16. Miscellaneous. This Warrant may
not be changed, waived, discharged or terminated except by an
instrument in writing signed by the Corporation and the Holder.
This Warrant shall inure to the benefit of and shall be binding
upon the successors and assigns of the Corporation. Under no
circumstances may this Warrant be assigned by the
Holder.

 

17. Governing Law. This Warrant
shall be governed by and construed in accordance with the laws of
the State of Delaware without giving effect to its principles
governing conflicts of law.

 

18. Holder’s Exercise
Limitations. The Corporation shall not effect any exercise
of this Warrant, and a Holder shall not have the right to exercise
any portion of this Warrant, to the extent that after giving effect
to issuance of the shares of Common Stock issuable upon exercise of
this Warrant as set forth on the applicable Notice of Exercise, the
Holder (together with the Holder’s affiliates, and any other
persons acting as a group together with the Holder or any of the
Holder’s affiliates), would beneficially own in excess of the
Beneficial Ownership Limitation, as defined below. For purposes of
the foregoing sentence, the number of shares of Common Stock
beneficially owned by the Holder and its affiliates shall include
the number of shares of Common Stock issuable upon exercise of this
Warrant with respect to which such determination is being made, but
shall exclude the number of shares of Common Stock which would be
issuable upon (i) exercise of the remaining, non-exercised portion
of this Warrant beneficially owned by the Holder or any of its
affiliates and (ii) exercise or conversion of the unexercised or
non-converted portion of any other securities of the Corporation
(including without limitation any other Common Stock Equivalents
securities convertible into shares of Common Stock) subject to a
limitation on conversion or exercise analogous to the limitation
contained herein beneficially owned by the Holder or any of its
affiliates. Except as set forth in the preceding sentence, for
purposes of this Section 18, beneficial ownership shall be
calculated in accordance with Section 13(d) of the Exchange Act, it
being acknowledged by the Holder that the Corporation is not
representing to the Holder that such calculation is in compliance
with Section 13(d) of the Exchange Act and the Holder is solely
responsible for any schedules required to be filed in accordance
therewith. To the extent that the limitation contained in this
paragraph applies, the determination of whether this Warrant is
exercisable (in relation to other securities owned by the Holder
together with any affiliates) and of which portion of this Warrant
is exercisable shall be in the sole discretion of the Holder, and
the submission of a Notice of Exercise shall be deemed to be the
Holder’s determination of whether this Warrant is exercisable
(in relation to other securities owned by the Holder together with
any affiliates) and of which portion of this Warrant is
exercisable, in each case subject to the Beneficial Ownership
Limitation, and the Corporation shall have no obligation to verify
or confirm the accuracy of such determination.

 

For
purposes of this paragraph, in determining the number of
outstanding shares of Common Stock, a Holder may rely on the number
of outstanding shares of Common Stock as reflected in (A) the
Corporation’s most recent periodic or annual report filed
with the Securities and Exchange Commission, as the case may be,
(B) a more recent public announcement by the Corporation or (C) a
more recent written notice by the Corporation or its transfer agent
setting forth the number of shares of Common Stock outstanding. The
number of outstanding shares of Common Stock shall further be
determined after giving effect to the conversion or exercise of
securities of the Corporation, including this Warrant, by the
Holder or its affiliates since the date as of which such number of
outstanding shares of Common Stock was reported. The
“Beneficial Ownership Limitation” shall be 9.99% of the
number of shares of the Common Stock outstanding immediately after
giving effect to the issuance of shares of Common Stock issuable
upon exercise of this Warrant. Upon no fewer than 61 days’
prior notice to the Corporation, a Holder may increase or decrease
the Beneficial Ownership Limitation provisions of this paragraph,
provided that the Beneficial Ownership Limitation may in no event
exceed 9.99% of the number of shares of the Common Stock
outstanding immediately after giving effect to the issuance of
shares of Common Stock upon exercise of this Warrant held by the
Holder and the provisions of this paragraph shall continue to
apply. Any such increase or decrease will not be effective until
the 61st day after such notice is delivered to the Corporation and
shall only apply to such Holder and no other Holder. The
limitations contained in this paragraph shall apply to a successor
Holder of this Warrant.

 

 

 

YOUNGEVITY
INTERNATIONAL, INC.

 

 

 

By:
  /s/ David
Briskie                                     

Name:
David Briskie

Title:
President and Chief Investment Officer

 

 

 

 

YOUNGEVITY INTERNATIONAL, INC.

 

Form of
Transfer

 

(To be
executed by the Holder to transfer the Warrant)

 

For
value received the undersigned registered holder of the attached
Warrant hereby sells, assigns, and transfers the Warrant to the
Assignee(s) named below:

 

	

Names
of Assignee

	

Address

	

Taxpayer
ID No.

	

Number
of Shares subject to transferred Warrant

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

 

The
undersigned registered holder further irrevocably appoints
____________________ _______________________________ attorney (with
full power of substitution) to transfer this Warrant as aforesaid
on the books of the Corporation.

 

 

 

	
 Date:
______________________________

 

	
 ___________________________________

Signature

 

 

 

                                                                                    

 

 

 

YOUNGEVITY INTERNATIONAL, INC.

 

Exercise Form

 

(To be
executed by the Holder to purchase Common Stock pursuant to the
Warrant)

 

 

The
undersigned holder of the attached Warrant hereby irrevocably
elects to exercise purchase rights represented by such Warrant for,
and to purchase, ___________ shares of Common Stock of Youngevity
International, Inc., a Delaware corporation, for the cash payment
for those shares.

 

The
undersigned requests that (1) a certificate for the shares be
issued in the name of the undersigned and (2) if the number of
shares with respect to which the undersigned holder has exercised
purchase rights is not all of the shares purchasable under this
Warrant, that a new Warrant of like tenor for the balance of the
remaining shares purchasable under this Warrant be
issued.

 

 

 

	
 Date:
______________________________

 

	
 ___________________________________

Signature

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