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  Exhibit 10.3    
    

 
    USANA HEALTH SCIENCES, INC.
  2015 EQUITY INCENTIVE AWARD PLAN    
    

 
    STOCK-SETTLED STOCK APPRECIATION RIGHT AWARD
  AGREEMENT FOR INDEPENDENT DIRECTORS    
    

					
	Recipient Name:	 	

 	 	 
	Grant Date:	 	

 	 	 
	Number of SSARs:	 	

 	 	 
	Per Share Grant Price:	 	

 	 	 
	Expiration Date:	 	

 	 	 

        1.    Award.    USANA Health Sciences, Inc. (the "Company") has
awarded you the number of Stock-Settled Stock Appreciation Rights ("SSARs") indicated above, subject to the terms and conditions set forth in the
Company's 2015 Equity Incentive Award Plan (the "Plan") and this Award Agreement. 

        2.    Term and Vesting.    The term of the SSARs commences on the Grant Date and ends on the Expiration Date, provided
that you remain an Independent Director of the Company. In no event may the SSARs be exercised later than the Expiration Date. The SSARs shall become vested and exercisable in eight equal quarterly
installments of twelve and one-half percent (12.5%), beginning on [Month] [Day], [Year] and continuing thereafter on the first
day of each calendar quarter, so as to be 100% vested and exercisable on [Month] [Day], [Year]. SSAR vesting continues only as
long as you serve as an Independent Director. If your service as an Independent Director of the Company terminates, the SSARs may be exercised only as described in paragraph 4 below. 

        3.    Exercise of SSAR.    

        a.     Upon
exercise of the SSARs, you shall be entitled to receive a number of shares of Common Stock of the Company (the
"Stock") for each share with respect to which the SSARs are exercised equal to the quotient of (i) the excess of the Fair Market Value of one
share of Stock on the date of exercise over the Per Share Grant Price, divided by (ii) the Fair Market Value of one share of Stock on the date of exercise. 

        b.     To
exercise all or part of the SSARs you must deliver to the Company a "Notice of Exercise," in such form as the Company authorizes. You shall not have any rights as a
shareholder of the Company with respect to the shares of Stock subject to the SSARs until you have exercised the SSARs for such shares. While you are alive, the SSARs may be exercised only by you or
your legal representative. 

        c.     Upon
exercise, the number of shares of Stock issued will be reduced to satisfy the minimum statutorily required tax withholding obligations. The remaining shares of Stock
will be issued to you or, in case of your death, your beneficiary designated in accordance with the procedures specified by the Committee. If at the time of your death, there is not an effective
beneficiary designation on file or you are not survived by your designated beneficiary, the shares will be issued to the legal representative of your estate. Upon any exercise of the SSARs, you must
furnish to the Company before the closing of such exercise such other documents or representations as the Company may require to comply with applicable laws and regulations. 

        4.    Termination.    If you cease to be an Independent Director for any reason, all then unvested SSARs awarded
hereunder shall immediately terminate without notice to you and shall be forfeited. Vested SSARs will be exercisable according to the following provisions: 

        a.     If
you cease to be an Independent Director for any reason other than retirement or Disability (which are governed by paragraph b. below), removal for Cause (which
is governed by 

 

paragraph c.
below) or death (which is governed by paragraph d. below), all SSARs awarded hereunder that are vested at such time shall be exercisable at any time prior to the Expiration
Date. 

        b.     If
you cease to be an Independent Director on account of your retirement or Disability, all SSARs awarded hereunder that are vested at such time shall be exercisable at
any time prior to the Expiration Date. 

        c.     If
you are removed as an Independent Director prior to expiration of your term for Cause (as defined below), all outstanding SSARs awarded hereunder which are not
exercisable immediately prior to removal, and all outstanding SSARs awarded hereunder which are exercisable immediately prior to removal, shall terminate as of the date of removal for Cause and may
not be exercised. For purposes of this Award Agreement, "Cause" shall mean (i) any act of personal dishonesty in connection with your
responsibilities to the Company and intended to result in substantial personal enrichment to you, (ii) your conviction of a felony or (iii) your willful act which constitutes gross
misconduct and which is injurious to the Company. 

        d.     If
your service as an Independent Director of the Company terminates by reason of your death, or if you die within the ninety day period after the date you cease to be an
Independent Director of the Company for any reason other than Cause, any of your vested SSARs hereunder may be exercised by your estate, personal representative or beneficiary who has acquired the
SSARs by will or by the laws of descent and distribution, at any time prior to the Expiration Date. 

        5.    Tax Withholding.    The Company will withhold from the number of shares of Stock otherwise issuable hereunder a
number of shares necessary to satisfy the minimum statutorily required tax withholding obligations. Such shares will be valued at their Fair Market Value when the taxable event occurs. 

        6.    Transferability.    The SSARs may not be transferred, pledged, assigned, hypothecated or otherwise disposed of
in any way, except by will or by the laws of descent and distribution. In the event that you become legally incapacitated, the SSARs shall be exercisable by your legal guardian, committee or legal
representative. If you die, the SSARs shall thereafter be exercisable by your beneficiary as designated by you in the manner prescribed by the Committee or, in the absence of an authorized beneficiary
designation, by the legatee of such SSARs under your will, or by your estate in accordance with your will or the laws of descent and distribution, in each case in the same manner and to the same
extent that the SSARs were exercisable by you on the date of your death. The SSARs shall not be subject to execution, attachment or similar process. Any attempted assignment, transfer, pledge,
hypothecation or other disposition of the SSARs contrary to the provisions hereof, and the levy of any execution, attachment or similar process upon the SSARs, shall be null and void and without
effect. 

        7.    Other Restrictions.    The issuance of shares of Stock hereunder is subject to compliance by the Company and you
with all applicable legal requirements applicable thereto, including tax withholding obligations, and with all applicable regulations of any stock exchange on which the Stock may be listed at the time
of issuance. The Company may delay the issuance of shares of Stock hereunder to ensure at the time of issuance there is a registration statement for the shares in effect under the Securities Act of
1933. 

        8.    No Employment or Continued Service.    Neither the award to you of the SSARs nor the delivery to you of this
Award Agreement or any other document relating to the SSARs will confer on you the right to employment with the Company or to continued service as an Independent Director. 

        9.    No Shareholder Rights.    Neither the award to you of the SSARs nor the delivery to you of this Award Agreement
or any other document relating to the SSARs will entitle you to any rights of a shareholder of the Company with respect to the shares of Stock subject to this Award Agreement prior 

2

 

to
the exercise of the SSARs and the receipt of shares of Stock in accordance with this Award Agreement. 

        10.    No Fractional Shares.    The SSARs granted hereunder may be exercised only with respect to whole shares of
Stock, and no fractional share of Stock shall be issued. 

        11.    Mergers, Reorganizations, and Certain Other Changes.    In the event of the Company's liquidation,
reorganization, separation, merger or consolidation into, or acquisition of property or stock by another
corporation, or sale of substantially all assets to another corporation, your rights with respect to the SSARs awarded hereunder shall be governed by the Committee, as provided in the Plan. 

        12.    Additional Provisions.    

        a.     This
Award Agreement is subject to the provisions of the Plan. A copy of the Plan is available upon request. Capitalized terms not defined in this Award Agreement are
used as defined in the Plan. If the Plan and this Award Agreement are inconsistent, the provisions of the Plan will govern. 

        b.     The
Plan and this Award Agreement represent the entire agreement of you and the Company with respect to the SSARs granted pursuant to this Award Agreement and supersedes
in their entirety all prior undertakings and agreements of the Company and you with respect to the subject of this Award Agreement and may not be modified except by means of a written agreement
between the Company and you. 

        c.     Interpretations
of the Plan and this Award Agreement by the Committee are binding on you and the Company. 

        d.     Neither
the Plan nor this Award Agreement shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company and
any other person. To the extent that any person acquires a right to receive payments form the Company pursuant to an Award Agreement, such right shall be no greater than the right of any unsecured
creditor of the Company. 

        e.     Any
notice hereunder by you to the Company shall be given in writing and such notice shall be deemed duly given only upon receipt thereof by the Secretary of the Company.
Any notice hereunder by the Company to you shall be given in writing and such notice shall be deemed duly given only upon receipt thereof at such address as is reflected on the then-current records of
the Company. 

        f.      This
Award Agreement shall be construed and enforced in accordance with the laws of the State of Utah, without giving effect to the choice of law principles thereof. 

3

 

        IN
WITNESS WHEREOF, the Company and the recipient of the SSARs hereunder have executed this Award Agreement effective as of the date first above written. 

					
	USANA HEALTH SCIENCES, INC.	 	 
	
 By:	
 	

 	
 	
 
	
 Name:	
 	

 	
 	
 
	
 Title:	
 	

 	
 	
 
	

RECIPIENT	
 	
 
	

 

  Signature of Participant	
 	
 
	

  Print Name	 	 
	

  Social Security Number	 	 

4

QuickLinks

Exhibit 10.3

USANA HEALTH SCIENCES, INC. 2015 EQUITY INCENTIVE AWARD PLAN

STOCK-SETTLED STOCK APPRECIATION RIGHT AWARD AGREEMENT FOR INDEPENDENT DIRECTORSQuickLinks
 -- Click here to rapidly navigate through this document

 

 
 

  Exhibit 10.4    
    

 
    USANA HEALTH SCIENCES, INC.
  2015 EQUITY INCENTIVE AWARD PLAN    
    

 
    RESTRICTED STOCK UNIT
  AWARD AGREEMENT FOR EMPLOYEES    
    

					
	Recipient Name:	 	

 	 	 
	Grant Date:	 	

 	 	 
	Number of RSUs:	 	

 	 	 
	Per Share Grant Price:	 	

 	 	 
	Expiration Date:	 	

 	 	 

        1.    Award.    USANA Health Sciences, Inc. (the "Company") has
awarded you the number of Restricted Stock Units ("RSUs") indicated above, subject to the terms and conditions set forth in the Company's 2015 Equity
Incentive Award Plan (the "Plan") and this Award Agreement. 

        2.    Vesting.    The RSUs shall become vested in five equal annual installments of twenty percent (20%) of the
RSUs on each of the first through fifth anniversary of the Grant Date, so as to be 100% vested on the fifth anniversary of the Grant Date, subject to your continued employment by the Company on each
vesting date. If your employment by the Company terminates, any unvested RSUs shall immediately terminate without notice to you and shall be forfeited. 

        3.    Settlement of RSUs.    

        a.     Subject
to Section 3(c) hereof, promptly following the vesting date, the Company shall: (i) issue and deliver to you the number of shares of Common Stock of
the Company (the "Stock") equal to the number of vested RSUs; and (ii) enter your name on the books of the Company as the shareholder of record
with respect to the Stock delivered to you 

        b.     The
number of shares of Stock issued will be reduced to satisfy the minimum statutorily required tax withholding obligations in respect of the RSUs as further provided in
Section 6. The remaining shares of Stock will be issued to you or, in case of your death, your beneficiary designated in accordance with the procedures specified by the Committee. If at the
time of your death, there is not an effective beneficiary designation on file or you are not survived by your designated beneficiary, the shares of Stock will be issued to the legal representative of
your estate. Prior to the issuance of the shares of Stock, you must furnish to the Company such other documents or representations as the Company may require to comply with applicable laws and
regulations. 

        4.    Committee Discretion.    The Committee, in its discretion, may accelerate the vesting of the balance, or some
lesser portion of the balance, of the unvested RSUs at any time, subject to the terms of the Plan. If so accelerated, such RSUs will be considered as having vested as of the date specified by the
Committee. The payment of Shares vesting pursuant to this Section 4 shall in all cases be paid at a time or in a manner that is exempt from, or complies with, Section 409A. 

        Notwithstanding
anything in the Plan or this Award Agreement to the contrary, if the vesting of the balance, or some lesser portion of the balance, of the RSUs is accelerated in
connection with your termination as an employee (provided that such termination is a "separation from service" within the meaning of Section 409A, as determined by the Committee), other than
due to death, and if (x) you are a "specified employee" within the meaning of Section 409A at the time of your termination and (y) the payment of such accelerated RSUs will result
in the imposition of additional tax under Section 409A if paid to you on or within the six (6) month period following your termination, then the payment of such accelerated RSUs will not
be made until the date six (6) months and one (1) day following the date of
your termination, unless you die within the six (6) month period following your termination, in which case, the RSUs will be paid in Shares to your estate as soon as practicable 

 

following
your death. It is the intent of this Award Agreement that it and all payments and benefits hereunder be exempt from, or comply with, the requirements of Section 409A so that none of
the RSUs provided under this Award Agreement or Shares issuable thereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to be
so exempt or so comply. Each payment payable under this Award Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). For purposes of
this Award Agreement, "Section 409A" means Section 409A of the Code, and any final Treasury Regulations and Internal Revenue Service guidance thereunder, as each may be amended from time
to time. 

        5.    Termination.    If you cease to be employed by the Company for any reason, all then unvested RSUs awarded
hereunder shall immediately terminate without notice to you and shall be forfeited and the Company shall not have any further obligation to you under this Award Agreement. 

        6.    Tax Withholding.    The Company will withhold from the number of shares of Stock otherwise issuable hereunder a
number of shares of Stock necessary to satisfy the minimum statutorily required tax withholding obligations. Such shares of Stock will be valued at their Fair Market Value when the taxable event
occurs. 

        7.    Transferability.    Until such time as the RSUs are settled in accordance with Section 3, the RSUs or the
rights relating thereto may not be transferred, pledged, assigned, hypothecated or otherwise disposed of in any way, except by will or by the laws of descent and distribution. The RSUs shall not be
subject to execution, attachment or similar process. Any attempted assignment, transfer, pledge, hypothecation or other disposition of the RSUs contrary to the provisions hereof, and the levy of any
execution, attachment or similar process upon the RSUs, shall be null and void and without effect. 

        8.    Other Restrictions.    The issuance of shares of Stock hereunder is subject to compliance by the Company and you
with all applicable legal requirements applicable thereto, including tax withholding obligations, and with all applicable regulations of any stock exchange on which the shares of Stock may be listed
at the time of issuance. The Company may delay the issuance of shares of Stock hereunder to ensure at
the time of issuance there is a registration statement for the shares in effect under the Securities Act of 1933. 

        9.    No Employment Agreement.    Neither the award to you of the RSUs nor the delivery to you of this Award Agreement
or any other document relating to the RSUs will confer on you the right to continued employment with the Company or any Subsidiary. 

        10.    No Shareholder Rights.    Neither the award to you of the RSUs nor the delivery to you of this Award Agreement
or any other document relating to the RSUs will entitle you to any rights of a shareholder of the Company with respect to the shares of Stock subject to this Award Agreement prior to the settlement of
the RSUs and the receipt of shares of Stock in accordance with this Award Agreement. 

        11.    No Fractional Shares.    The RSUs granted hereunder may be settled only with respect to whole shares of Stock,
and no fractional share of Stock shall be issued. 

        12.    Mergers, Reorganizations, and Certain Other Changes.    In the event of the Company's liquidation,
reorganization, separation, merger or consolidation into, or acquisition of property or stock by another corporation, or sale of substantially all assets to another corporation, your rights with
respect to the RSUs awarded hereunder shall be governed by the Committee, as provided in the Plan. 

        13.    Additional Provisions.    

        a.     This
Award Agreement is subject to the provisions of the Plan. A copy of the Plan is available upon request. Capitalized terms not defined in this Award Agreement are
used as 

2

 

defined
in the Plan. If the Plan and this Award Agreement are inconsistent, the provisions of the Plan will govern. 

        b.     The
Plan and this Award Agreement represent the entire agreement of you and the Company with respect to the RSUs granted pursuant to this Award Agreement and supersedes
in their entirety all prior undertakings and agreements of the Company and you with respect to the subject of this Award Agreement and may not be modified except by means of a written agreement
between the Company and you. 

        c.     Interpretations
of the Plan and this Award Agreement by the Committee are binding on you and the Company. 

        d.     Neither
the Plan nor this Award Agreement shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company and
any other person. To the extent that any person acquires a right to receive payments form the Company pursuant to an Award Agreement, such right shall be no greater than the right of any unsecured
creditor of the Company. 

        e.     Any
notice hereunder by you to the Company shall be given in writing and such notice shall be deemed duly given only upon receipt thereof by the Secretary of the Company.
Any notice hereunder by the Company to you shall be given in writing and such notice shall be deemed duly given only upon receipt thereof at such address as is reflected on the then-current records of
the Company. 

        f.      This
Award Agreement shall be construed and enforced in accordance with the laws of the State of Utah, without giving effect to the choice of law principles thereof. 

        IN
WITNESS WHEREOF, the Company and the recipient of the RSUs hereunder have executed this Award Agreement effective as of the date first above written. 

					
	USANA HEALTH SCIENCES, INC.	 	 
	
 By:	
 	

 	
 	
 
	
 Name:	
 	

 	
 	
 
	
 Title:	
 	

 	
 	
 
	

RECIPIENT	
 	
 
	

 

  Signature of Participant	
 	
 
	

  Print Name	 	 

3

QuickLinks

Exhibit 10.4

USANA HEALTH SCIENCES, INC. 2015 EQUITY INCENTIVE AWARD PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT FOR EMPLOYEES

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