Document:

Letter Agreement, effective June 26, 2007

 REDACTED – OMITTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE COMMISSION PURSUANT TO RULE 24b-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND IS DENOTED HEREIN BY ***** 
 

 
 VIA FEDERAL EXPRESS – PRIORITY OVERNIGHT 
 Confidential 
 June 19, 2007 
 Mr. Linus Cortez 
 Chief Financial Officer 
 Stuller, Inc. 
 302 Rue Louis XIV 
 Lafayette, Louisiana 70508 
 Dear Mr. Cortez: 
 This letter, will amend our letter agreement dated March 16, 2000, and replace our existing letter agreement dated, April 25, 2006, when signed by the last party hereto. 
 A. For the Term, Charles & Colvard, Ltd., (C&C), hereby: 
  

	 	1.	Appoints Stuller Inc., (Stuller) the rights to sell Charles & Colvard created moissanite (either as a loose jewel or in manufactured jewelry) in the territory comprised of
the North American Continent from the present date until December 31, 2008 (The “Appointment Term”). 

  

	 	2.	Warrants that Stuller will be charged no more than the lowest price charged to any jewelry industry customer worldwide. The price schedule effective May 1, 2006 (previously
given to Stuller) is the current pricing. Further, if at any time the pricing of moissanite is decreased, C&C shall provide Stuller with a credit toward additional purchases of moissanite equal to the amount of such price decrease on the lesser
of (a) Stuller’s net purchases of moissanite during the prior 90 days or (b) Stuller’s actual inventory at such time. Stuller will be informed at least 90 days prior to any price increase. 

  

	 	3.	C&C will fund all pre-approved, eligible advertising/promotional activity expenses submitted by Stuller. This funding is limited to *****% of net purchases made by Stuller. To
receive the co-op credit Stuller must submit to C&C, on a quarterly basis, a marketing report listing all activities undertaken by Stuller for the quarter. This report must be supported by actual receipts for all expenditures and other
appropriate backup evidencing that advertising has occurred. C&C will issue a credit memo to Stuller for actual marketing expenditures. 

  

	 	4.	Agrees to provide stock re-balancing semi-annually on a dollar value per dollar value basis, *****. This stock balancing will occur within 15 days of May15 and November 15 of
each year. 

  

	 	5.	Agrees to provide the Stuller staff with any required training concerning the product, the marketing strategy, and the product positioning being implemented by C&C.

  

	 	6.	Agrees *****. 

 B. Stuller agrees to comply with the following:

  

	 	a.	MAP pricing 

  

	 	b.	Brand Identity Guidelines 

  

	 	c.	Submission of support documentation relevant to all co-op and any other authorized marketing and sales expenses. 

 300 Perimeter Park Drive, Suite A            Morrisville, NC
27560            Telephone 919.468.0399 
 Facsimile
919.468.0486    www.moissanite.com 

 REDACTED – OMITTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE COMMISSION PURSUANT TO RULE 24b-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND IS DENOTED HEREIN BY ***** 
 Page 2 
 June 19, 2007 
 Linus Cortez, CFO – Stuller, Inc. 
 C. Stuller and C&C agree to the following four major initiatives for 2007: 
  

	 	1.	Stuller will *****. Illustrative of Stuller’s commitment, *****. 

  

	 	2.	C&C and Stuller will ***** including *****. 

  

	 	3.	C&C and Stuller will *****. 

  

	 	4.	Stuller will *****. 

  

	 	5.	On a quarterly basis Stuller agrees *****. 

 Stuller hereby recognizes and
agrees to cooperate with C&C in the protection of all C&C trademarks, logos, copyrights and intellectual property. Further, Stuller agrees to include Charles & Colvard created moissanite in its catalog and trade show presentations
for the term of the agreement; and to make commercially reasonable efforts to market moissanite to its customers consistent with the Brand Identity Guidelines (BIG) supplied by C&C, and, Stuller specifically agrees to make commercially
reasonable efforts to sell Charles & Colvard created moissanite as loose stones to retailers and manufacturers only for use in jewelry mountings. 
 Further, Stuller agrees *****. The parties agree *****. 
 If the forgoing meets with your understanding of our agreement, please sign and return
one copy of this letter for our files. 
 Agreed and accepted: 
  

							
	Charles & Colvard, Ltd.	 		 	Stuller, Inc.	 	
				
	 /s/ Dennis M. Reed
	 		 	 /s/ Linus Cortez
	 	
	Dennis M. Reed	 		 	Linus Cortez	 	
	President & CMO	 		 	Chief Financial Officer	 	
				
	Date: 6/26/07	 		 	Date: 6/21/07	 	

 REDACTED – OMITTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE COMMISSION PURSUANT TO RULE 24b-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND IS DENOTED HEREIN BY ***** 
 

 
 Exhibit I 
 MAP Price List 
 Effective May 1, 2006. All prices listed in US$. All prices subject to change without notice.

  

									
	 SRB (mm)
	 	 Average
 Carat
 Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Tray Capacity

	2.5	 	0.05	 	*****	 	*****	 	78
	3	 	0.09	 	*****	 	*****	 	78
	3.25	 	0.11	 	*****	 	*****	 	78
	3.5	 	0.14	 	*****	 	*****	 	78
	4	 	0.22	 	*****	 	*****	 	40
	4.5	 	0.29	 	*****	 	*****	 	40
	5	 	0.41	 	*****	 	*****	 	40
	5.5	 	0.54	 	*****	 	*****	 	21
	6	 	0.68	 	*****	 	*****	 	21
	6.5	 	0.88	 	*****	 	*****	 	21
	7	 	1.10	 	*****	 	*****	 	21
	7.5	 	1.35	 	*****	 	*****	 	10
	8	 	1.60	 	*****	 	*****	 	10
	8.5	 	1.90	 	*****	 	*****	 	10
	9	 	2.26	 	*****	 	*****	 	10
	9.5	 	2.75	 	*****	 	*****	 	10
	10	 	3.08	 	*****	 	*****	 	10
	10.5	 	3.57	 	*****	 	*****	 	10
	11	 	4.11	 	*****	 	*****	 	5
	11.5	 	4.72	 	*****	 	*****	 	5
	12	 	5.32	 	*****	 	*****	 	5
	12.5	 	6.01	 	*****	 	*****	 	5
	13	 	6.80	 	*****	 	*****	 	5
	13.5	 	7.60	 	*****	 	*****	 	5
	14	 	8.46	 	*****	 	*****	 	5
	14.5	 	9.51	 	*****	 	*****	 	5
	15	 	10.46	 	*****	 	*****	 	5

 All SRB (standard round brilliant) moissanite jewels are sold by piece by size (mm). 
 The average carat weights listed are for informational purposes only. 

 REDACTED – OMITTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE COMMISSION PURSUANT TO RULE 24b-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND IS DENOTED HEREIN BY ***** 
 

 
  

									
	 SCR (mm)
	 	 Carat
 Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Average
 Pieces/Bag

	1	 	3	 	*****	 	*****	 	869
	1.1	 	3	 	*****	 	*****	 	653
	1.2	 	3	 	*****	 	*****	 	440
	1.3	 	3	 	*****	 	*****	 	370
	1.4	 	3	 	*****	 	*****	 	295
	1.5	 	3	 	*****	 	*****	 	255
	1.6	 	3	 	*****	 	*****	 	190
	1.7	 	3	 	*****	 	*****	 	167
	1.8	 	3	 	*****	 	*****	 	140
	1.9	 	3	 	*****	 	*****	 	112
	2	 	3	 	*****	 	*****	 	109
	2.1	 	3	 	*****	 	*****	 	94
	2.2	 	3	 	*****	 	*****	 	82
	2.3	 	3	 	*****	 	*****	 	71
	2.4	 	3	 	*****	 	*****	 	63
	  
 All SCR (single cut round) moissanite jewels are
sold by weight in bulk bags weighing 3 carats each.
 The average pieces per bag listed are for informational purposes only.
  

	 Baguette
 (mm)
	 	 Carat
 Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Average
 Pieces/Bag

	 4x2
	 	3	 	*****	 	*****	 	29
	 5x2.5
	 	3	 	*****	 	*****	 	16
	 Tapered
 Baguette
	 	 Carat
 Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Average
 Pieces/Bag

	 5x2.5x2
	 	3	 	*****	 	*****	 	19

 All Baguette moissanite jewels are sold by weight in bulk bags weighing 3 carats each.

 The average pieces per bag listed are for informational purposes only. 

 REDACTED – OMITTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE COMMISSION PURSUANT TO RULE 24b-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND IS DENOTED HEREIN BY ***** 
 

 
 MAP Price List 
 Effective May 1, 2006. All prices listed in US$. All prices subject to change without notice. 
  

									
	 Castle (mm)
	 	 Average
 Carat
 Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Tray Capacity

	 2.5
	 	0.05	 	*****	 	*****	 	40
	 3
	 	0.09	 	*****	 	*****	 	40
	 3.5
	 	0.15	 	*****	 	*****	 	40
	 4
	 	0.21	 	*****	 	*****	 	40
	 4.5
	 	0.30	 	*****	 	*****	 	40
	 5
	 	0.40	 	*****	 	*****	 	40
	 5.5
	 	0.52	 	*****	 	*****	 	21
	 6
	 	0.69	 	*****	 	*****	 	21
	 6.5
	 	0.88	 	*****	 	*****	 	21
	 7
	 	1.09	 	*****	 	*****	 	21
	 7.5
	 	1.33	 	*****	 	*****	 	10
	 8
	 	1.61	 	*****	 	*****	 	10
	 Cushion (mm)
	 	 Average
 Carat
 Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Tray Capacity

	 2
	 	0.04	 	*****	 	*****	 	40
	 2.5
	 	0.07	 	*****	 	*****	 	40
	 3
	 	0.12	 	*****	 	*****	 	40
	 3.5
	 	0.19	 	*****	 	*****	 	40
	 4
	 	0.30	 	*****	 	*****	 	40
	 4.5
	 	0.42	 	*****	 	*****	 	40
	 5
	 	0.57	 	*****	 	*****	 	21
	 5.5
	 	0.75	 	*****	 	*****	 	21
	 6
	 	0.96	 	*****	 	*****	 	21
	 6.5
	 	1.21	 	*****	 	*****	 	21
	 7
	 	1.49	 	*****	 	*****	 	21
	 7.5
	 	1.80	 	*****	 	*****	 	10
	 8
	 	2.15	 	*****	 	*****	 	10
	 8.5
	 	2.54	 	*****	 	*****	 	10
	 9
	 	2.98	 	*****	 	*****	 	10

 REDACTED – OMITTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE COMMISSION PURSUANT TO RULE 24b-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND IS DENOTED HEREIN BY ***** 
 

 
  

									
	 9.5
	 	3.74	 	*****	 	*****	 	10
	 10
	 	4.18	 	*****	 	*****	 	5
	 10.5
	 	4.99	 	*****	 	*****	 	5
	 11
	 	5.79	 	*****	 	*****	 	5
	 11.5
	 	6.82	 	*****	 	*****	 	5
	 12
	 	8.07	 	*****	 	*****	 	5
	 Heart (mm)
	 	 Average
 Carat
 Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Tray Capacity

	 3
	 	0.08	 	*****	 	*****	 	78
	 3.5
	 	0.14	 	*****	 	*****	 	40
	 4
	 	0.21	 	*****	 	*****	 	40
	 4.5
	 	0.30	 	*****	 	*****	 	40
	 5
	 	0.42	 	*****	 	*****	 	40
	 5.5
	 	0.54	 	*****	 	*****	 	21
	 6
	 	0.70	 	*****	 	*****	 	21
	 6.5
	 	0.86	 	*****	 	*****	 	21
	 7
	 	1.10	 	*****	 	*****	 	21
	 7.5
	 	1.32	 	*****	 	*****	 	21
	 8
	 	1.61	 	*****	 	*****	 	10
	 8.5
	 	1.99	 	*****	 	*****	 	10
	 9
	 	2.43	 	*****	 	*****	 	10
	 9.5
	 	2.83	 	*****	 	*****	 	10
	 10
	 	3.30	 	*****	 	*****	 	10

 All moissanite jewels on this page are sold by piece by size (mm), average carat weights listed are
for 
 informational purposes only. 

 REDACTED – OMITTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE COMMISSION PURSUANT TO RULE 24b-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND IS DENOTED HEREIN BY ***** 
 

 
 MAP Price List 
 Effective May 1, 2006. All prices listed in US$. All prices subject to change without notice. 
  

									
	 Marquise
 (mm)
	 	 Average
 Carat
 Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Tray Capacity

	 4x2
	 	0.06	 	*****	 	*****	 	40
	 5x2.5
	 	0.12	 	*****	 	*****	 	40
	 6x3
	 	0.21	 	*****	 	*****	 	21
	 7x3.5
	 	0.32	 	*****	 	*****	 	21
	 8x4
	 	0.47	 	*****	 	*****	 	21
	 9x4.5
	 	0.67	 	*****	 	*****	 	21
	 10x5
	 	0.90	 	*****	 	*****	 	21
	 11x5.5
	 	1.26	 	*****	 	*****	 	12
	 12x6
	 	1.58	 	*****	 	*****	 	12
	 13x6.5
	 	1.98	 	*****	 	*****	 	12
	 14x7
	 	2.48	 	*****	 	*****	 	12
	 Octagon
 (mm)
	 	 Average
 Carat
 Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Tray Capacity

	 2
	 	0.03	 	*****	 	*****	 	78
	 2.5
	 	0.07	 	*****	 	*****	 	78
	 3
	 	0.11	 	*****	 	*****	 	78
	 3.5
	 	0.17	 	*****	 	*****	 	78
	 4
	 	0.25	 	*****	 	*****	 	40
	 4.5
	 	0.36	 	*****	 	*****	 	40
	 5
	 	0.47	 	*****	 	*****	 	40
	 5.5
	 	0.62	 	*****	 	*****	 	21
	 6
	 	0.80	 	*****	 	*****	 	21
	 6.5
	 	1.02	 	*****	 	*****	 	21
	 7
	 	1.26	 	*****	 	*****	 	21
	 7.5
	 	1.56	 	*****	 	*****	 	10
	 8
	 	1.87	 	*****	 	*****	 	10
	 8.5
	 	2.19	 	*****	 	*****	 	10
	 9
	 	2.58	 	*****	 	*****	 	10
	 9.5
	 	3.02	 	*****	 	*****	 	10

 REDACTED – OMITTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE COMMISSION PURSUANT TO RULE 24b-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND IS DENOTED HEREIN BY ***** 
 

 
  

									
	 Oval (mm)
	 	 Average
 Carat
 Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Tray Capacity

	 4x2
	 	0.09	 	*****	 	*****	 	40
	 5x3
	 	0.23	 	*****	 	*****	 	40
	 6x4
	 	0.43	 	*****	 	*****	 	21
	 7x5
	 	0.84	 	*****	 	*****	 	21
	 8x6
	 	1.33	 	*****	 	*****	 	10
	 9x7
	 	1.91	 	*****	 	*****	 	10
	 10x8
	 	2.72	 	*****	 	*****	 	10
	 11x9
	 	3.74	 	*****	 	*****	 	10
	 12x10
	 	5.18	 	*****	 	*****	 	5
	 14x10
	 	6.58	 	*****	 	*****	 	5
	 14x10.5
	 	6.93	 	*****	 	*****	 	5
	 Pear (mm)
	 	 Average
 Carat
 Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Tray Capacity

	 5x3
	 	0.20	 	*****	 	*****	 	21
	 6x4
	 	0.39	 	*****	 	*****	 	21
	 7x5
	 	0.69	 	*****	 	*****	 	21
	 7.5x5
	 	0.76	 	*****	 	*****	 	21
	 8x5
	 	0.85	 	*****	 	*****	 	21
	 9x6
	 	1.33	 	*****	 	*****	 	12
	 10x7
	 	1.93	 	*****	 	*****	 	12
	 10.5x7
	 	2.13	 	*****	 	*****	 	12
	 12x7.5
	 	2.87	 	*****	 	*****	 	12
	 12x8
	 	3.09	 	*****	 	*****	 	5

 All moissanite jewels on this page are sold by piece by size (mm), average carat weights listed are
for 
 informational purposes only. 

 REDACTED – OMITTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE COMMISSION PURSUANT TO RULE 24b-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND IS DENOTED HEREIN BY ***** 
 

 
 MAP Price List 
 Effective May 1, 2006. All prices listed in US$. All prices subject to change without notice. 
  

									
	 Princess
 (mm)
	 	 Average
 Carat Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Tray Capacity

	 2x2
	 	0.04	 	*****	 	*****	 	78
	 2.5x2.5
	 	0.08	 	*****	 	*****	 	78
	 3x3
	 	0.14	 	*****	 	*****	 	40
	 3.5x3.5
	 	0.21	 	*****	 	*****	 	40
	 4x4
	 	0.33	 	*****	 	*****	 	21
	 4.5x4.5
	 	0.44	 	*****	 	*****	 	21
	 5x5
	 	0.64	 	*****	 	*****	 	21
	 5.5x5.5
	 	0.83	 	*****	 	*****	 	10
	 6x6
	 	1.07	 	*****	 	*****	 	10
	 6.5x6.5
	 	1.35	 	*****	 	*****	 	10
	 7x7
	 	1.64	 	*****	 	*****	 	10
	 7.5x7.5
	 	2.08	 	*****	 	*****	 	10
	 8x8
	 	2.51	 	*****	 	*****	 	10
	 8.5x8.5
	 	2.87	 	*****	 	*****	 	10
	 9x9
	 	3.49	 	*****	 	*****	 	5
	 9.5x9.5
	 	3.97	 	*****	 	*****	 	5
	 10x10
	 	4.80	 	*****	 	*****	 	5
	 10.5x10.5
	 	5.38	 	*****	 	*****	 	5
	 11x11
	 	6.31	 	*****	 	*****	 	5
	 11.5x11.5
	 	7.23	 	*****	 	*****	 	5
	 12x12
	 	8.14	 	*****	 	*****	 	5
	 12.5x12.5
	 	8.86	 	*****	 	*****	 	5
	 13.0x13.0
	 	9.94	 	*****	 	*****	 	5
	 Radiant (mm)
	 	 Average
 Carat Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Tray Capacity

	 4x2
	 	0.10	 	*****	 	*****	 	40
	 5x3
	 	0.30	 	*****	 	*****	 	40
	 6x4
	 	0.61	 	*****	 	*****	 	21
	 7x5
	 	1.04	 	*****	 	*****	 	10

 REDACTED – OMITTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE COMMISSION PURSUANT TO RULE 24b-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND IS DENOTED HEREIN BY ***** 
 

 
  

									
	 8x6
	 	1.67	 	*****	 	*****	 	10
	 9x7
	 	2.43	 	*****	 	*****	 	10
	 10x8
	 	3.51	 	*****	 	*****	 	10
	 11x9
	 	4.79	 	*****	 	*****	 	5
	 12x10
	 	6.45	 	*****	 	*****	 	5
	 14x10
	 	8.41	 	*****	 	*****	 	5
	 14x12
	 	11.72	 	*****	 	*****	 	5
	 SBC (mm)
	 	 Average
 Carat Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Tray Capacity

	 2x2
	 	0.04	 	*****	 	*****	 	78
	 2.5x2.5
	 	0.11	 	*****	 	*****	 	78
	 3x3
	 	0.16	 	*****	 	*****	 	40
	 3.5x3.5
	 	0.24	 	*****	 	*****	 	40
	 4x4
	 	0.37	 	*****	 	*****	 	21
	 4.5x4.5
	 	0.51	 	*****	 	*****	 	21
	 5x5
	 	0.71	 	*****	 	*****	 	21
	 5.5x5.5
	 	0.91	 	*****	 	*****	 	10
	 6x6
	 	1.18	 	*****	 	*****	 	10
	 6.5x6.5
	 	1.50	 	*****	 	*****	 	10
	 7x7
	 	1.88	 	*****	 	*****	 	10
	 7.5x7.5
	 	2.28	 	*****	 	*****	 	10
	 8x8
	 	2.78	 	*****	 	*****	 	10
	 8.5x8.5
	 	3.28	 	*****	 	*****	 	10
	 9x9
	 	3.94	 	*****	 	*****	 	5
	 9.5x9.5
	 	4.62	 	*****	 	*****	 	5
	 10.0x10.0
	 	5.29	 	*****	 	*****	 	5

 All moissanite jewels on this page are sold by piece by size (mm), average carat weights listed are
for 
 informational purposes only. 

 REDACTED – OMITTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE COMMISSION PURSUANT TO RULE 24b-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND IS DENOTED HEREIN BY ***** 
 

 
 MAP Price List 
 Effective May 1, 2006. All prices listed in US$. All prices subject to change without notice. 
  

									
	 Triangle (mm)
	 	 Average
 Carat
 Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Tray Capacity

	 2x2x2
	 	0.02	 	*****	 	*****	 	78
	 2.5x2.5x2.5
	 	0.06	 	*****	 	*****	 	78
	 3x3x3
	 	0.09	 	*****	 	*****	 	78
	 3.5x3.5x3.5
	 	0.14	 	*****	 	*****	 	40
	 4x4x4
	 	0.21	 	*****	 	*****	 	40
	 4.5x4.5x4.5
	 	0.30	 	*****	 	*****	 	21
	 5x5x5
	 	0.40	 	*****	 	*****	 	21
	 5.5x5.5x5.5
	 	0.52	 	*****	 	*****	 	21
	 6x6x6
	 	0.67	 	*****	 	*****	 	21
	 6.5x6.5x6.5
	 	0.83	 	*****	 	*****	 	10
	 7x7x7
	 	1.06	 	*****	 	*****	 	10
	 7.5x7.5x7.5
	 	1.28	 	*****	 	*****	 	10
	 8x8x8
	 	1.48	 	*****	 	*****	 	10
	 8.5x8.5x8.5
	 	1.79	 	*****	 	*****	 	10
	 9x9x9
	 	2.12	 	*****	 	*****	 	10
	 9.5x9.5x9.5
	 	2.41	 	*****	 	*****	 	10
	 Trillion (mm)
	 	 Average
 Carat
 Weight
	 	 Minimum
 Advertised
 Price
	 	 Suggested
 Retail
	 	 Tray Capacity

	 2x2x2
	 	0.02	 	*****	 	*****	 	78
	 2.5x2.5x2.5
	 	0.05	 	*****	 	*****	 	78
	 3x3x3
	 	0.08	 	*****	 	*****	 	78
	 3.5x3.5x3.5
	 	0.13	 	*****	 	*****	 	40
	 4x4x4
	 	0.18	 	*****	 	*****	 	40
	 4.5x4.5x4.5
	 	0.27	 	*****	 	*****	 	21
	 5x5x5
	 	0.36	 	*****	 	*****	 	21
	 5.5x5.5x5.5
	 	0.47	 	*****	 	*****	 	21
	 6x6x6
	 	0.61	 	*****	 	*****	 	21
	 6.5x6.5x6.5
	 	0.74	 	*****	 	*****	 	10
	 7x7x7
	 	0.94	 	*****	 	*****	 	10

 REDACTED – OMITTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE COMMISSION PURSUANT TO RULE 24b-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND IS DENOTED HEREIN BY ***** 
 

 
  

									
	 7.5x7.5x7.5
	 	1.16	 	*****	 	*****	 	10
	 8x8x8
	 	1.44	 	*****	 	*****	 	10
	 8.5x8.5x8.5
	 	1.66	 	*****	 	*****	 	10
	 9x9x9
	 	2.16	 	*****	 	*****	 	10
	 9.5x9.5x9.5
	 	2.41	 	*****	 	*****	 	10
	 10x10x10
	 	2.77	 	*****	 	*****	 	5
	 10.5x10.5x10.5
	 	3.34	 	*****	 	*****	 	5
	 11x11x11
	 	3.85	 	*****	 	*****	 	5

 All moissanite jewels on this page are sold by piece by size (mm), average carat weights listed are
for informational 
 purposes only.Compensation Perfomance Incentive Plan

 Exhibit 10.33 
 GeoPharma, Inc. 
 Annual Performance Incentive Plan 
 1. Plan Purpose 
 The company wishes to adopt an Annual Performance
Incentive Plan to provide incentive to Plan Participants to enhance corporate success above those levels normally expected, to reward Participants upon the achievement of that success and to provide a substantial return on investment to stockholders
of GeoPharma, Inc. 
 2. Definitions 
 For purposes of
this Plan, the following are defined: 
  

	 	a)	“Award” or “Awards” shall mean a payment made to a Participant under the terms of the Plan. 

  

	 	b)	“Base Salary” shall mean the regular rate of pay (prorated as appropriate under the Plan) as established by the Company that is effective as of March 31 of each year,
unless a different effective date is determined by the Compensation Committee for a particular Participant. 

  

	 	c)	“Company” shall mean GeoPharma, Inc. 

  

	 	d)	“Board of Directors” shall mean the Board of Directors of GeoPharma, Inc. 

  

	 	e)	“Compensation Committee” shall mean the designated Compensation Committee of the Board of Directors of GeoPharma, Inc. 

  

	 	f)	“Participant” shall mean a full-time employee determined as provided in Section 4(a), Eligibility for Awards. 

  

	 	g)	“Plan” shall mean the Annual Performance Incentive Plan. 

 3.
Effective Date and Award Period 
  

	 	a)	The Plan shall be effective beginning as of April 1, 2005 and thereafter at the beginning of each of the Company’s fiscal years. 

  

	 	b)	The Award Period is the 12 months coinciding with each of the Company’s fiscal years. 

  

	 	c)	The Plan expires on the last date of the Award Period, but shall renew automatically unless eliminated or superseded by a new Plan or terminated by the Board of Directors.

 4. Eligibility of Awards 
  

	 	a)	The eligibility of a prospective Participant to participate in this Plan will be determined periodically by the Board of Directors on recommendation of the Compensation Committee.

  

	 	b)	The Board of Directors reserves the right to revoke the eligibility of any Participant at any time, for any reason it deems appropriate. 

 5. Award Determination 
  

	 	a)	The formulas and measures for payments under the Plan will be determined by the Board of Directors on recommendation of the Compensation Committee at the beginning of each Plan
year. 

  

	 	b)	The determination of the amounts and method of calculation of the Awards for each year will be set forth in the Awards Determination Sheet which will be considered as an addendum to
the Plan document for each Participant and shall be so attached. 

 6. New Hires, Transfers and Terminations 
  

	 	a)	If, during an Award Period, an officer of the Company becomes potentially eligible to participate in this Plan, the Compensation Committee will, in its sole discretion, determine
the level of eligibility (if any) and the nature and amounts of any Awards that may become eligible. For all other non-officer potential participants, such determinations shall be made by the Chief Executive Officer. 

  

	 	b)	If a Participant is transferred from a position that is eligible for participation in the Plan to a position that is not eligible for participation in the Plan, the Compensation
Committee will, in its sole discretion, determine the level of eligibility (if any) and the nature and amounts of any Awards that may remain eligible. 

  

	 	c)	If a Participant’s employment terminates prior to the end of an Award Period on account of death, disability, or due to early or normal retirement approved by the Board of
Directors, the Participant’s (or if applicable, his or her estate) Award (if any) shall be calculated on a pro rata basis. Such awards shall be paid at the same time and in the same manner as described elsewhere in this Plan.

  

	 	d)	Except as otherwise provided in paragraph c) above, no Award shall be allocated to any Participant whose employment is terminated during the Award Period. 

 

	 	e)	Any Participant whose employment is terminated for cause after the end of the Award Period but prior to the payment of an Award shall forfeit his or her right to any unpaid Award.

  

 Page 2 

	 	f)	Any Participant whose employment is terminated for reasons other than cause after the end of the Award Period but prior to payment, will have his or her award (if any) paid at the
same time and in the same manner as described elsewhere in this Plan. 

 7. Rights to Amend or Terminate Plan and Awards 
 The Company reserves the right, at the sole discretion of the Board of Directors, to alter or eliminate this Plan or a Participant’s Award at any time without prior
notice to Participants. 
 8. Miscellaneous 
  

	 	a)	Headings. Headings to the sections of this Plan are provided solely as a convenience and shall not control or affect the meaning or construction of any of its provisions.

  

	 	b)	Awards. Awards will be granted as soon as practical after the audit by the independent auditing firm of the Company’s financial statements for the prior year. The intent
is to grant awards within 90 days following the close of the Company’s books for the fiscal year under consideration. In order to be eligible to receive an Award, a Participant must be employed as a full-time eligible employee of the Company at
the end of the Plan year under consideration. 

  

	 	c)	Non-transfer ability of Awards. No Award under this Plan, and no rights or interests therein, shall be assignable or transferable by a Participant except by will or the laws
of descent and distribution, and may not be pledged, hypothecated or otherwise encumbered. 

  

	 	d)	Tax Withholding. The Company shall have the right to deduct from any Award, or require the Participant to remit to the Company any federal, state or local taxes of any kind
required by law to be withheld with respect to such Award. 

  

	 	e)	No Right to Employment. Neither the action of the Company in establishing this Plan nor any action taken by it under any provisions of this Plan shall be construed as giving
to any Participant the right to be retained in the Company’s employ or any right to Plan benefits or payments whatsoever, except to the extent of the benefits provided for by this Plan. The Company expressly reserves the right at any time to
dismiss any Participant without incurring any liability for any claim against itself for any payment whatsoever, except to the extent provided for in this Plan. 

  

	 	f)	Felony Conviction. Notwithstanding any other provision of this Plan, if a Participant is convicted of a felony involving fraud, misappropriation of funds or any other
criminal activity of a similar nature involving the Company and/or their assets, illegal use of trade secrets or proprietary information gained while in the employ of the Company, such Participant’s rights to any benefits under this Plan shall
be permanently and immediately forfeited. 

  

 Page 3 

	 	g)	Equitable Adjustments. Adjustments to the Plan caused by the Company’s directives, external events, acquisitions, or otherwise, may be made from time to time and will be
confirmed by an exchange of letters between the Company and the Participant. 

  

	 	h)	Disputes. Any dispute regarding Awards under this Plan must be set forth by the Participant in writing to the Company within sixty (60) days after the Participant
receives the final Plan check for the fiscal year; otherwise, the Awards and payment will be deemed correct and accepted by the Participant. 

  

	 	i)	Governing Law. The Plan and all actions taken thereunder shall be governed by the laws of the State of Florida. 

 Approved: 
  

			
	 /s/ George Stuart
	 	
		
	  
	 	
	 Chairman of Compensation Committee
	 	Date

  

 Page 4 

 GeoPharma, Inc. 
 Awards Determination Sheet 
 Fiscal Year 2007 Formula and Measures 
  

	For:	Mihir Taneja 

 Chief Executive Officer

 Annual Incentive Payment 
 The participant will be paid
an annual incentive as a percent of the Participant’s Base Salary for attainment of the Company’s revenue and profit targets as follows: 
  

			
	 2007 EBITDA
	 	 Payout % of Base

	 Less than $ 4.5 million
	 	-0-
	 $ 4.5 million
	 	100%
	 $ 6.0 million or more
	 	150%

 EBITDA is defined as the Company’s earnings before interest, corporate income taxes, depreciation, and
amortization, stock option compensation expense, any extraordinary expenses and after accruals for all incentives, as determined at the end of the Company’s fiscal year and certified by the firm’s auditors. 
 For actual attainments between the categories listed above, the bonus percentage will be calculated on a pro rata basis. 
 Example: 2007 EBITDA = $4.5 million 
 Bonus Percentage =
$100% of base salary; paid 60%/40% over the months of July – December 2007 

 GeoPharma, Inc. 
 Awards Determination Sheet 
 Fiscal Year 2007 Formula and Measures 
  

	For:	Jugal Taneja 

 Chairman 
 Annual Incentive Payment 
 The participant will be paid an annual
incentive as a percent of the Participant’s Base Salary for attainment of the Company’s revenue and profit targets as follows: 
  

			
	 2007 EBITDA
	 	 Payout % of Base

	 Less than $ 4.5 million
	 	-0-
	 $ 4.5 million
	 	125%
	 $ 6.0 million or more
	 	175%

 EBITDA is defined as the Company’s earnings before interest, corporate income taxes, depreciation, and
amortization, stock option compensation expense, any extraordinary expenses and after accruals for all incentives, as determined at the end of the Company’s fiscal year and certified by the firm’s auditors. 
 For actual attainments between the categories listed above, the bonus percentage will be calculated on a pro rata basis. 
 Example: EBITDA = $4.5 million 
 Bonus Percentage = $100% of
base salary; paid 70%/30% over the months of July – December 

 GeoPharma, Inc. 
 Awards Determination Sheet 
 Fiscal Year 2007 Formula and Measures 
  

	For:	Dr. Kotha Sekharam 

 President

 Annual Incentive Payment 
 The participant will be
paid an annual incentive as a percent of the Participant’s Base Salary for attainment of the Company’s revenue and profit targets as follows: 
 1)
File 4 new generic drugs (ANDA/ANADA) 
 2) Bring 2 new drug products for commercial manufacturing 
 3) Develop intellectual property for at least one high-value project (505 (b)2 or similar) 
  

			
	 2007 Goals
	 	 Payout % of Base

	 Less than 3 Goals above
	 	-0-
	 100% of 3 goals above
	 	100%
	 Excess of 3 goals above
	 	150%

 Bonus Percentage Example= $100% of base salary; paid 60%/40% over the months of July – December 

 GeoPharma, Inc. 
 Awards Determination Sheet 
 Fiscal Year 2007 Formula and Measures 
  

	For:	Carol Dore-Falcone 

 VP/CFO/COO-Non Pharma

 Annual Incentive Payment 
 The participant will be
paid an annual incentive as a percent of the Participant’s Base Salary for attainment of the Company’s revenue and profit targets as follows: 
  

			
	 2007 EBITDA
	 	 Payout % of Base

	 Less than $ 4.5 million
	 	-0-
	 $ 4.5 million
	 	100%
	 $ 6.0 million or more
	 	150%

 EBITDA is defined as the Company’s earnings before interest, corporate income taxes, depreciation, and
amortization, stock option compensation expense, any extraordinary expenses and after accruals for all incentives, as determined at the end of the Company’s fiscal year and certified by the firm’s auditors. 
 For actual attainments between the categories listed above, the bonus percentage will be calculated on a pro rata basis. 
 Example: 2006 EBITDA = $3.5 million 
 Bonus Percentage =
$100% of base salary; paid 60%/40% over the months of July – December 2006

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