Document:

Unassociated Document

    CONFIDENTIAL
TREATMENT REQUESTED

     

    INFORMATION
FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED IS OMITTED AND IS IDENTIFIED
BY THREE ASTERISKS, AS FOLLOWS “* * *”. AN UNREDACTED VERSION OF THIS DOCUMENT
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION.

    AGREEMENT

     

    AGREEMENT
dated as of May 28, 2010 by and among George Foreman Productions, Inc. (“GF Productions”) and
George Foreman (“Foreman”), on the one
hand (collectively, the “Foreman Parties”),
and George Foreman Ventures LLC (“GFV”) and George
Foreman Enterprises, Inc. (“GFE”), on the other
hand (collectively, the “GFE Parties”). 
All capitalized terms used herein and not otherwise defined shall have the
respective meanings provided in Section
1.

     

    RECITALS

     

    WHEREAS,
the Foreman Parties and the GFE Parties are Parties to an Assignment Agreement
dated as of August 15, 2005 (the “Assignment
Agreement”) pursuant to which the Foreman Parties assigned certain
indicia of Foreman trademarks and other related intellectual property to
GFV;

     

    WHEREAS,
GF Productions and GFV entered into a Services Agreement dated as of August 15,
2005 (the “Services
Agreement”) pursuant to which GF Productions agreed to furnish certain
personal services to GFV; and

     

    WHEREAS,
subject to the terms and conditions hereof, the Parties have agreed to, among
other things, (i) the termination of the Assignment Agreement and the
Services Agreement, (ii) the assignment by the GFE Parties of the Marks, the
Foreman Indicia, the Indicia Rights and the Materials to the Foreman Parties and
(iii) the license by the Foreman Parties of the Marks, the Foreman Indicia, the
Indicia Rights and the Materials to GFV pursuant to Section 2
hereof;

     

    NOW,
THEREFORE, in consideration of the foregoing and the representations,
warranties, covenants and agreements contained in this Agreement, and intending
to be legally bound hereby, the Parties hereby agree as follows:

     

    1. 
         Definitions.

     

    “Action” means any
claim (including, without limitation, any bona fide demand, written assertion of
rights, or cease and desist notification), complaint, action, suit, petition or
proceeding, mediation, arbitral action, government inquiry, criminal
prosecution, administrative proceeding or other similar
investigation.

     

    “Affiliate” means,
when used with respect to a specified Person, another Person that either
directly or indirectly, through one or more intermediaries, controls, is
controlled by or is under common control with, the Person specified.  For
purposes of this definition, “control” (and its derivatives) means the
possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of a Person, whether through ownership
of equity, voting or other interests, as trustee or executor, by contract or
otherwise.

     

    “Foreman Indicia”
means the name, image, signature, voice, likeness, caricatures, sobriquets, and
all other identifying features and indicia of the boxing celebrity Foreman,
whether known on or before the date hereof or hereafter found or
developed.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    “GFE License
Agreements” means the Shoe License Agreement, the Wellness Shake License
Agreement and the Restaurant License Agreement.

     

    “GFV Operating
Agreement” means the Amended and Restated Limited Liability Company
Agreement of GFV dated as of August 15, 2005 by and among GFE and the Foreman
Parties.

     

    “Indicia Rights” means
the sole and exclusive right, throughout the universe in perpetuity, to use the
Foreman Indicia, in whole or in part in connection with the manufacture,
distribution, sale, advertising, promotion, and other exploitation of all
products and the distribution, sale, advertising, promotion, and other
exploitation of all services; including, without limitation, the following
uses:  (i) on products; (ii) on product packages;
(iii) on labeling; (iv) on signage; and (v) on any and all
promotional and advertising messages and materials; by any and all means and
media, both known and unknown, throughout the universe.

     

    “Instride Ventures”
means Instride Ventures LLC.

     

    “Liability” means any
and all debts, liabilities and obligations of any kind or nature, whether
accrued or fixed, absolute or contingent, direct or indirect, matured or
unmatured, due or to become due, or determined or determinable, including all
costs and expenses relating thereto.

     

    “Loss” means any
Liability, loss, damage, claim, disbursement, cost, expense, penalty or
settlement of any kind or nature, whenever incurred, including, but not limited
to, interest or other carrying costs and reasonable legal, accounting and other
professional fees and expenses actually incurred in the investigation,
collection, prosecution and defense of claims, that may be imposed on or
otherwise incurred or suffered by a Person.  “Loss” shall also include any
costs or expenses actually incurred by a Person to enforce its rights under this
Agreement.

     

    “Marks”
means:

     

    GEORGE
FOREMAN

    GF SPORT
BY GEORGE FOREMAN

    GEORGE
FOREMAN SIGNATURE

    SIGNATURE
COLLECTION BY GEORGE FOREMAN

    GEORGE
FOREMAN SAUCES

    GEORGE
FOREMAN KNOCKOUT

    GEORGE
FOREMAN SIGNATURE COLLECTION

    COMFORT
ZONE BY GEORGE FOREMAN

    GEORGE
FOREMAN LEAN MEAN CONTACT ROASTING MACHINE

    GEORGE
FOREMAN’S FUSION GRILL

    BIG
GEORGE

    

    and all
colorable variations thereof; and all other words, phrases, symbols and designs,
and combinations of words, phrases, symbols and designs, that incorporate or
otherwise refer to the Foreman Indicia, in whole or in part, and that have been
used, are being used, or could be used, anywhere in the universe, as trademark
or trade names or service marks or service names in any and all categories and
classes of products and services, without limitation.

     

    ***  Confidential
Information Redacted

    
      
         

      

      
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    “Materials” means all
materials created or produced using the Marks, the Foreman Indicia and/or
Indicia Rights including, without limitation, all copyrights therein. (The
Foreman Parties acknowledge that the GFE Parties purchased certain photographs
from a third party and that such photographs remain the property of the GFE
Parties; provided that the use of any such photographs (by the GFE Parties or
any Person that may acquire such photographs) shall be subject to applicable
laws).

     

    “Party(ies)” means the
Parties to this Agreement set forth on the signature page.

     

    “Person” means any
individual, general or limited partnership, firm, corporation, limited liability
company, association, trust, unincorporated organization or other entity, as
well as any syndicate or group that would be deemed to be a person under Section
13(d)(3) of the Securities Exchange Act of 1934, as amended, any successor
statutes thereto, and the rules and regulations promulgated
thereunder.

     

    “Restaurant License
Agreement” means the Promotion License Agreement and Services Agreement
dated as of September 6, 2006 between UFood and GFV, as amended on
June 12, 2007 and September 4, 2007.

     

    “Shoe License
Agreement” means the License Agreement dated as of April 20, 2007
between Instride Ventures and GFV.

     

    “Subsidiary” means any
Person in which another Person, directly or through Subsidiaries or otherwise,
beneficially owns more than fifty percent of either the equity interests in, or
the voting control, of such Person.

     

    “Transaction
Documents” means this Agreement and all other agreements, instruments,
certificates and other documents entered into or delivered by any Party pursuant
to the terms of this Agreement.

     

    “UFood” means UFood
Restaurant Group Inc. (formerly known as KnowFat Franchise Company,
Inc.)

     

    “Vita Ventures” means
Vita Ventures LLC.

     

    “Wellness Shake License
Agreement” means the Trademark License and Services Agreement dated as of
September 7, 2006 between Vita Ventures and G-Nutritional LLC, a
wholly-owned subsidiary of GFV.

     

    2. 
         Assignment
Agreement.

     

    (a)           The
Parties hereby terminate the Assignment Agreement and all of the rights and
obligations of the Parties thereunder.

     

    (b)           The
GFE Parties hereby sell, grant, assign and otherwise set over to the Foreman
Parties, solely and exclusively and forever, irrevocably and unconditionally,
all of their right, title and interest, of every nature and description, whether
or not such rights are now known, recognize or contemplated, including the right
to enforce the same for all past, present and future infringements, in and
to:

     

    ***  Confidential
Information Redacted

    
      
         

      

      
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    (A)           the
Foreman Indicia and the Indicia Rights;

     

    (B)           the
Marks, together with the goodwill of the business symbolized by the Marks, and
the portion of the business appurtenant to the Marks, throughout the
universe;

     

    (C)           any
and all registrations of, and applications to register, the Marks filed in the
United States Patent and Trademark Office, in any states within the United
States and anywhere else in the world; and

     

    (D)           the
Materials.

     

    (c)           From
and after the date hereof, the GFE Parties and each of the respective Affiliates
shall cease and desist from any and all uses of, and shall not use, the Foreman
Indicia, the Indicia Rights and/or the Marks, subject only to the licenses
provided hereunder in this Section 2 to GFV for the use of the Foreman
Indicia, the Indicia Rights, the Materials and/or the Marks solely in connection
with and for the purpose of complying with and/or exercising its contractual
rights, representations, commitments and obligations under the GFE License
Agreements.

     

    (d)           The
Parties hereby terminate the Trademark Licensing Agreement dated as of
April 2, 2007 between GFV as licensee and the Foreman Parties as licensor
and all of the rights and obligations of the Parties thereunder.  From the
date hereof until the termination of the Shoe License Agreement (as it may be
extended by GFE), the Foreman Parties hereby grant to GFV a world-wide, fully
paid, royalty free, non-exclusive license to use the Marks, the Foreman Indicia,
the Indicia Rights and the Materials solely in connection with and for the
purpose of complying and/or exercising its contractual rights, representations,
commitments and obligations under the Shoe License Agreement.

     

    (e)           From
the date hereof until the termination of the Wellness Shake License Agreement
(as it may be extended by GFE), the Foreman Parties hereby grant to GFV a
world-wide, fully paid, royalty free, non-exclusive license to use the Marks,
the Foreman Indicia, the Indicia Rights and the Materials solely in connection
with and for the purpose of complying with and/or exercising its rights,
contractual representations, commitments and obligations under the Wellness
Shake License Agreement.

     

    (f)           
From the date hereof and during the term of the Restaurant License Agreement (as
it may be extended by GFE), the Foreman Parties hereby grant to GFV a worldwide,
fully paid, royalty free, non-exclusive license to use the Marks, the Foreman
Indicia, the Indicia Rights and the Materials solely in connection with and for
the purpose of complying and/or exercising its rights, contractual
representations, commitments and obligations under the Restaurant License
Agreement.

     

    (g)           Notwithstanding
anything in this Agreement or any of the GFE License Agreements to the contrary,
each of the GFE Parties, on behalf of itself and each of its Affiliates, agrees
that:

     

    ***  Confidential
Information Redacted

    
      
         

      

      
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    (i)            
it will not approve or permit any Person to use any products, (other than any
products that have been approved by Foreman prior to the date hereof) (currently
the wellness shake, the diabetic shoes and inserts and the UFood restaurants))
packaging, advertising, sales or other promotional materials used in connection
with any of the GFE License Agreements without the prior written consent of
Foreman, which shall not be unreasonably withheld or delayed;

     

    (ii)           
upon the written request of Foreman, it will take all actions necessary to
enforce on behalf of Foreman and his Affiliates provisions of the GFE License
Agreements which may benefit Foreman and his Affiliates (e.g., indemnification,
insurance, approval rights, etc.);

     

    (iii)           it
will not amend any of the GFE License Agreements; provided that the GFE Parties
may extend the term of the GFE License Agreements;

     

    (iv)          it
will promptly forward to Foreman a copy of all notices, reports and any other
correspondence it receives in connection with the GFE License Agreements
(excluding any notice, report or correspondence that relates exclusively to
royalty payments) that relate to the validity or ownership of the Marks, the
Foreman Indicia, the Indicia Rights or the Materials or any claims by Persons
relating to the safety of the products under the GFE License Agreements;
and

     

    (v)           
it will use its commercially reasonable efforts to be available at the
reasonable request of Foreman to discuss any activities related to the GFE
License Agreements.

     

    (h)           The
licenses granted by the Foreman Parties pursuant to this Section 2 shall
not be transferred or sublicensed except (i) for the licenses granted by
GFV in connection with the GFE License Agreements and/or (ii) to a third
party that acquires all or substantially all of the equity or assets of the GFE
Parties (provided that the Foreman Parties acknowledge that the foregoing shall
not preclude the customary industry practice of the licensees under the GFE
License Agreements authorizing retail stores to display promotional materials
previously approved by Foreman containing the Marks, the Foreman Indicia or the
Indicia Rights to promote products under the GFE License Agreements).  The
GFE Parties agree that none of the GFE License Agreements may be transferred or
sublicensed by any of the parties thereto except that the Shoe License Agreement
may be assigned or licensed as long as GFV complies with the right of first
refusal provisions set forth in the Agreement dated as of May 28, 2010 (the
“NationsHealth Agreement”) by and among the Foreman Parties, GFV and United
States Pharmaceutical Group, L.L.C.

     

    3. 
         Services
Agreement.

     

    (a)           The
Parties hereby terminate the Services Agreement and (d) of the rights and
obligations of the Parties thereunder.

     

    ***  Confidential
Information Redacted

    
      
         

      

      
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    (b)           The
Foreman Parties shall furnish to the GFE Parties at their request up to an
aggregate of [***] days (not to exceed 8 hours in a day) of personal services of
Foreman (excluding a travel time) on or prior to the [***] anniversary of the
date hereof which shall be used by the GFE Parties in connection with the GFE
License Agreements; provided that (i) the services provided hereunder shall
be performed at times and places convenient to Foreman and the subject to his
other commitments, and Foreman shall not be required to perform services on any
that would conflict with his community and religious obligations or other
professional obligations and (ii) any personal services of Foreman during
any day after the [***] day shall be conditional upon Foreman being paid [***]
in advance of such day from the GFE Parties.  Notwithstanding the
foregoing, it shall be a condition to Foreman’s furnishing of such personal
services that(i) Foreman shall have the right to approve the general
content of, and the use of, any of the Marks, the Foreman Indicia and Indicia
Rights, in connection with the personal services, which approval shall not be
unreasonably withheld or delayed; and (ii) Foreman shall be paid in advance
for his reasonably anticipated out-of-pocket costs and expenses to be incurred
in connection with the furnishing of the personal services (provided that
(i) in the event Foreman’s actual documented expenses exceed the estimated
expenses, Foreman shall reimburse the excess; and (ii) if Foreman’s actual
documented expenses are less than the estimated expenses, the GFE Parties shall
pay Foreman for such deficit).  The personal services to be provided
hereunder shall include preparation of advertising, promotional, publicity and
other materials; participation on camera, voice over or other services for one
or more audiovisual recordings through commercials, infomercials and radio;
audio recordings; still photographs; and/or participation in media interviews,
press events or personal appearances; provided that Foreman shall not be
required to furnish any personal services that could reasonably be expected to
violate any provision of the NationsHealth Agreement.  The GFE Parties
agree that, to the extent Foreman agrees to travel more than 50 miles outside of
Houston, Texas in connection with the performance of his services, Foreman will
be given a roundtrip first class ticket and, if used, a companion ticket (by
air, if appropriate, and between Houston, Texas and the destination), exclusive
limousine ground transportation and five-star first class hotel (suite, if
available, plus a separate room for Foreman’s companion)
accommodations.

     

    4. 
         Board of Directors,
Preferred Stock and Equity Agreements.

     

    (a)           The
Parties acknowledge and agree that:  (i) each of Foreman and
George E. Foreman, Jr. resigned from the Board of Directors of GFE, the Board of
Managers and GFV and all officer positions of GFE and GFV prior to the approval
of this Agreement and the transactions contemplated hereby the Board of
Directors of GFE and the Board of Managers of GFV; (ii)  the Foreman
Parties waive the rights granted to the holders of the two shares of
Series A Preferred Stock of GFE to elect two out of a total of six
directors of the Board of Directors of GFE; and (iii) the Foreman Parties
waive the right to designate two out of a total of six Managers of
GFV.

     

    (b)           In
accordance with Section 2 of the Investor Rights Agreement dated as of August
15, 2005 (the ‘Investor Rights
Agreement”) by and among GFE, Foreman and GF Productions, GFE will within
7 business days of the date hereof issue and
deliver:  (i) 1,529,790 shares of GFE common stock to Foreman;
and (ii) 269,963 shares of GFE common stock to GF Productions, in each case
in exchange for all of the membership interests of Foreman and GF Productions,
as applicable, in GFV.

     

    (c)           The
Registration Rights Agreement dated as of August 15, 2005 (the “Registration Rights
Agreement”) by and among GFE, Foreman and GF Productions shall continue
in full force and effect in accordance with the terms thereof; provided that the
Foreman Parties hereby waive any right to receive shares of preferred stock
pursuant to Section 2 of the Registration Rights Agreement.

     

    ***  Confidential
Information Redacted

    
      
         

      

      
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    (d)           The
Investor Rights Agreement (the “Agreement”) is hereby
terminated and the rights and obligations of the parties thereunder are null and
void.

     

    (e)           The
GFV Operating Agreement shall continue in full force and effect; provided that:
(i) notwithstanding anything in the Operating Agreement to the contrary,
the Board of Managers remaining after the resignations pursuant to Section 4(a)
hereof shall have full power and authority to approve this Agreement and the
other Transaction Documents and the consummation of the transactions
contemplated hereby and thereby; and (ii) effective upon receipt by the
Foreman Parties of the shares of GFE common stock pursuant to Section 4(b)
hereof, GFE shall own all of the outstanding membership interests in GFV and
none of the Foreman Parties shall have any rights or obligations
thereunder.

     

    5. 
         Representations and
Warranties.

     

    (a)           Each
of the GFE Parties hereby jointly and severally represents and warrants to the
Foreman Parties as follows:

     

    (i)            
Each of the GFE Parties is an entity duly organized, validly existing and in
good standing under the laws of the jurisdiction of its
organization.

     

    (ii)           
Each of the GFE Parties has full power and authority to enter into, execute and
deliver this Agreement and the other Transaction Documents to which it is a
Party and to perform and observe fully its obligations hereunder and thereunder
and to perform the transactions contemplated hereby and thereby.  The
execution and delivery of this Agreement and the other Transaction Documents and
the consummation of the transactions contemplated hereby and thereby have been
duly and validly approved by the Board of Directors of GFE and the Board of
Managers of GFV.  Except for the approvals of the Board of Directors of GFE
and the Board of Members of GFV provided herein, no other corporate proceedings
on the part of the GFE Parties are necessary to approve, this Agreement, the
other Transaction Documents or the consummation of the transactions contemplated
hereby or thereby.  This Agreement and the other Transaction Documents have
been duly and validly executed and delivered by each of the GFE Parties and,
assuming due authorization, execution and delivery by each of the Foreman
Parties, this Agreement and the other Transaction Documents constitute valid and
binding legal obligations of the GFE Parties which are Parties thereto,
enforceable against each of the GFE Parties which are Parties thereto in
accordance with their respective terms, except as such enforceability may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium or
other similar laws affecting the enforcement of creditors’ rights generally, and
general principles of equity (the “Bankruptcy
Exception”).

     

    (iii)           The
execution, delivery and performance of this Agreement and the other Transaction
Documents, and the transactions contemplated hereby and thereby, do not and will
not (x) conflict with or result in any violation of or constitute a breach
or default under any provision of the Certificate of Incorporation or bylaws (or
corporate organizational documents) of any of the GFE Parties or
(y) violate any order, injunction or decree or other legal restraint or
prohibition (“Injunction”) or any
federal, state, local, municipal, foreign or other law, statute, constitution,
principle of common law, resolution, ordinance, code, order, writ, edict,
decree, rule, regulation, judgment, ruling, policy, guideline or requirement
(“Law”) issued,
enacted, adopted, promulgated, implemented or otherwise put into effect by or
under the authority of any court, administrative agency or commission or other
governmental authority or instrumentality (“Governmental Entity”)
applicable to any of the GFE Parties or any of their respective properties or
assets.

     

    ***  Confidential
Information Redacted

    
      
         

      

      
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    (iv)           No
notice to and no permit, authorization, consent, waiver or approval of,
declaration or filing with, any Governmental Entity or any other Person is
necessary for the execution or consummation by any GFE Party of the transactions
contemplated by this Agreement or the other Transaction Documents.

     

    (v)           
None of the GFE Parties nor any other Person has licensed, assigned, delegated,
mortgaged, hypothecated, transferred or encumbered any rights granted to GFV
under the Assignment Agreement except (i) to the extent found in the GFE
License Agreements or (ii) for any such license, assignment or transfer to
any of the Foreman Parties prior to the date hereof; provided that GFV and
Northern Foods plc entered into a license agreement dated as of June 13, 2007,
but such license has expired and all of the rights and obligations of the
parties thereunder have terminated.  The GFE Parties have provided to
Foreman’s counsel in connection with the preparation and negotiation of this
Agreement a true, correct and complete copy of the GFE License Agreements. 
Except as expressly provided herein, none of the GFE Parties or its Affiliates
shall have any right to or interest in any of the Marks, the Foreman Indicia,
Indicia Rights or Materials.

     

    (vi)           The
authorized common stock of GFE consists of 25,000,000 shares of common
stock, par value $.01 per share.  Immediately prior to the issuance of
shares of GFE common stock pursuant to Section 4(b) hereof, there are
3,289,006 shares of GFE common stock and 2 shares of GFE preferred stock issued
and outstanding.  Except for stock options granted to current or former
directors or officers of GFE since January 1, 2005, there are no
outstanding options, warrants rights (including conversion or preemptive rights
and rights of first refusal), stockholder agreements or agreements of any kind
for the purchase or acquisition from GFE of any of its services.  All
issued and outstanding shares of GFE common stock, including those issued
pursuant to Section 4(b) hereof, have been duly authorized and validly issued
and are fully paid and nonaccessible and were issued in compliance with all
applicable laws concerning the issuance of securities.

     

    (b)           Each
of the Foreman Parties hereby jointly and severally represents and warrants to
the GFE Parties as follows:

     

    (i)            
GF Productions is an entity duly organized, validly existing and in good
standing under the laws of the jurisdiction of its organization.

     

    ***  Confidential
Information Redacted

    
      
         

      

      
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    (ii)          
 Each of the Foreman Parties has full power and authority to enter into,
execute and deliver this Agreement and the other Transaction Documents to which
it is a Party and to perform and observe fully his or its obligations hereunder
and thereunder and to perform the transactions contemplated hereby and
thereby.  The execution and delivery of this Agreement and the other
Transaction Documents and the consummation of the transactions contemplated
hereby and thereby have been duly and validly approved by the Board of Directors
of GF Productions.  No other corporate proceedings on the part of the
Foreman Parties are necessary to approve this Agreement, the other Transaction
Documents or the consummation of the transactions contemplated hereby or
thereby.  This Agreement and the other Transaction Documents have been duly
and validly executed and delivered by each of the Foreman Parties and, assuming
due authorization, execution and delivery by each of the GFE Parties, this
Agreement and the other Transaction Documents constitute valid and binding legal
obligations of the Foreman Parties which are Parties thereto, enforceable
against each of the Foreman Parties which are Parties thereto in accordance with
their respective terms, except as may be limited by the Bankruptcy
Exception.

     

    (iii)           The
execution, delivery and performance of this Agreement and the other Transaction
Documents, and the transactions contemplated hereby and thereby, do not and will
not (A) conflict with or result in any violation of or constitute a breach or
default under any provision of the Certificate of Incorporation or bylaws of GF
Productions or (B) violate any Injunction or Law issued, enacted, adopted
promulgated, implemented or otherwise put into effect by or under the authority
of any Governmental Entity applicable to any of the Foreman Parties or any of
their respective properties or assets.

     

    (iv)          
They will use their reasonable efforts to be available at the reasonable request
of the GFE Parties to approve, consider and respond to any request by the GFE
Parties relating to the subject matter referred to in Section 2(g)(i)
hereof.

     

    6. 
         Deliveries.

     

    (a)           As
a condition to and inducement to the Foreman Parties’ willingness to enter into
this Agreement, concurrently with the execution of this Agreement, GFE has
delivered to the Foreman Parties:

     

    (i)            
certified copies of resolutions duly adopted by each of the board of directors
of GFE and the board of managers of GFV authorizing the execution, delivery and
performance of this Agreement and the other Transaction Documents and the
consummation of the transactions contemplated hereby and thereby;

     

    (ii)           
a release of the Foreman Parties, George Foreman, Jr., George Foreman III and
their respective officers, directors, employees, agents, representatives and
legal counsel and agreement by Seymour Holtzman to vote in favor of a name
change for GFE in the form attached hereto as Exhibit A
executed by Seymour Holtzman; and

     

    (iii)           a
copy of the waiver agreements in the form attached hereto as Exhibit B from
the holders of at least a majority in principal amount of the 8% Convertible
Promissory Notes of GFE (the “Noteholder
Waivers”).

     

    (b)           As
a condition to and inducement to the GFE Parties’ willingness to enter into this
Agreement, concurrently with the execution of this Agreement, Foreman shall have
delivered to the GFE Parties (i) a release of the GFE Parties, their respective
Subsidiaries and their respective officers, directors, employees, agents,
representatives and legal counsel and Seymour Holtzman in the form attached
hereto as Exhibit
C executed by each of George Foreman, Jr. and George Foreman III; and
(ii) the signed amendment to the GFV Operating Agreement referred to in
Section 4 (d) ; and

     

    ***  Confidential
Information Redacted

    
      
         

      

      
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    7. 
         Mutual
Releases.

     

    (a)           Each
of GFE and GFV, on behalf of itself and its Subsidiaries, does hereby forever
release, discharge and acquit each of GF Productions, Foreman, George Foreman
Jr., George Foreman III and their respective officers, directors, employees,
agents, representatives and legal counsel (collectively, the “Foreman Release
Parties”) from any and all manner of Actions, whether class, derivative
or individual in nature, in law or in equity for indemnity or otherwise, suits,
debts, liens, commitments, contracts, agreements, obligations, premises,
Liabilities, claims, demands, damages, losses, costs, or expenses, of any kind
or nature whatsoever, known or unknown, suspected or unsuspected, fixed or
contingent (collectively the “Claims”) based upon,
arising from, or in any way connected with or related to any act, omission, or
state of facts taken or existing on and/or prior to the execution of this
Agreement.  Notwithstanding the foregoing, neither GFE nor GFV is releasing
hereunder any of the Foreman Release Parties with respect to any claims arising
under the terms of this Agreement, the Registration Rights Agreement, the
NationsHealth Agreement or the other Transaction Documents.

     

    (b)           Each
of GF Productions and Foreman, does hereby forever release, discharge and acquit
(i) the GFE Parties, their respective Subsidiaries and their respective
officers, directors, employees, agents, representatives and legal counsel and
(ii) Seymour Holtzman from all Claims based upon, arising from, or in any
way connected with or related to any act, omission or state of facts taken or
existing on and/or prior to the execution of this Agreement. 
Notwithstanding the foregoing, Foreman is not releasing hereunder GFE or GFV
with respect to any claims arising under the terms of this Agreement, the
Registration Rights Agreement (except for a waiver of the rights described in
Section 4(b) hereof), the NationsHealth Agreement or the other Transaction
Documents.

     

    8. 
         Indemnification.

     

    (a)           From
the date hereof through the sixth anniversary of the date thereof, each of the
GFE Parties shall, jointly and severally, (i) indemnify and hold harmless
Foreman, George Foreman, Jr. and George Foreman III (each, a “D&O Indemnified
Party”) against all Losses incurred in connection with any Action arising
out of or pertaining to the fact that the D&O Indemnified Party is or was a
director or officer of any of the GFE Parties, whether asserted or claimed prior
to, at or after the date hereof, to the fullest extent permitted under the DGCL
for directors or officers of Delaware entities as in effect on the date hereof,
and (ii) use its commercially reasonable efforts to advance expenses as
actually incurred by any D&O Indemnified Party in the defense of any such
Action, upon receipt by any of the GFE Parties from the D&O Indemnified
Party of a request therefore to the fullest extent permitted under the DGCL as
in effect on the date hereof.

     

    ***  Confidential
Information Redacted

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    (b)           The
Certificate of Incorporation and Bylaws of GFE shall contain provisions no less
favorable with respect to indemnification, advancement of expenses and
exculpation of present and former directors and officers of GFE than are
presently set forth in the Certificate of Incorporation and Bylaws of GFE, which
provisions shall not be amended, modified or repealed for a period of six years
from the date hereof in a manner that would adversely affect the rights
thereunder of individuals who, at or prior to the date hereof, were officers or
directors of GFE.

     

    (c)           The
GFV Operating Agreement shall contain provisions no less favorable with respect
to indemnification, advancement of expenses and exculpation of present and
former directors and officers of GFV than are presently set forth in the GFV
Operating Agreement, which provisions shall not be amended, modified or repealed
for a period of six years from the date hereof in a manner that would adversely
affect the rights thereunder of individuals who, at or prior to the date hereof,
were officers or directors of GFV.

     

    (d)           GFE
shall use its commercially reasonable efforts to maintain the tail coverage
provided for under the current directors’ and officers’ liability insurance
policy maintained by GFE.

     

    (e)           The
provisions of this Section 8 are intended to be in addition to the rights
otherwise available to current and former officers and directors of GFE and GFV
and shall operate for the benefit of, and shall be enforceable by, each of the
D&O Indemnified Parties, their heirs and their representatives.

     

    9. 
         Other Post-Closing
Covenants.

     

    (a)           The
GFE Parties agree that:  (i) at each future meeting of
stockholders and action by written consent of stockholders of GFE, GFE shall use
its commercially reasonable efforts to solicit votes in favor of removing any
references to “George Foreman” or any derivative therefrom from the name of the
company until such name change is approved by stockholders; and (ii) GFE
shall promptly after such stockholder approval (x) file with the Delaware
Secretary of State an amendment to GFE’s certificate of incorporation to reflect
such name change and (y) amend the GFV Operating Agreement to remove any
references to “George Foreman” or any derivative therefrom from the name of the
company.

     

    (b)           Each
of the Parties shall use its commercially reasonable effort to deliver, or cause
to be delivered, such further certificates, instruments and other documents, and
to take, or cause to be taken, such further actions, as may be necessary, proper
or advisable under applicable Law to consummate and make effective the
transactions contemplated by this Agreement.

     

    (c)           Each
of the GFE Parties jointly and severally agrees to indemnify and hold harmless
each of the Foreman Parties as to all Losses resulting from (i) a breach by
any of the GFE Parties of its representations, warranties or agreements
hereunder or (ii) any Action relating to products or services promoted,
produced, sold and/or furnished by the GFE Parties or their Affiliates or any of
their respective licensees under the GFE License Agreements

     

    (d)           Each
of the Foreman Parties jointly and severally agrees to indemnify and hold
harmless each of the GFE Parties as to all Losses resulting from a breach by any
of the Foreman Parties of its representations, warranties or agreements
hereunder.

     

    ***  Confidential
Information Redacted

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    (e)           In
the event that Foreman agrees to extend the term of the NationsHealth Agreement,
or enters into a new agreement with NationsHealth covering core diabetic
supplies, then Foreman agrees that GFV shall be entitled to [***] of all fees
payable to Foreman under such extension or new agreement (other than personal
appearance fees).

     

    (f)           
Foreman agrees that, except in connection with complying with and/or exercising
his contractual rights, representations, commitments and obligations under the
NationsHealth Agreement or any new or extended agreement with NationsHealth, he
will not for a period of three years from the date hereof license to any Person
the right to use the Marks, the Foreman Indicia or the Indicia Rights in
connection with the sale of diabetic shoes or wellness shakes.  Foreman
agrees to use his reasonable efforts to notify GFE prior to his marketing or
sale of any vitamins at any time during the three years from the date
hereof.

     

    10. 
       Miscellaneous
Provisions.

     

    (a)           Successors and
Assigns. This Agreement shall inure to the benefit of, and be binding
upon, the Parties hereto and their respective successors and permitted assigns;
provided, however, that except as permitted by Section 2(h) hereof, no Party
shall assign or delegate this Agreement or any of its rights or obligations
created hereunder without the prior consent of the other Party.  The
representations, warranties and covenants shall survive the consummation of the
transactions contemplated hereby.

     

    (b)           Notices. All notices,
requests, consents, instructions and other communications required or permitted
to be given hereunder shall be in writing and hand delivered, sent by
nationally-recognized, next-day delivery service or mailed by certified mail,
return receipt requested, postage prepaid, addressed as set forth below; receipt
shall be deemed to occur on the date of actual receipt or, if sent by a
nationally-recognized, next-day delivery service, on the first business day
after deposit with such service. All such communications shall be addressed as
follows:

     

    (i)           if
to the GFE Parties, as follows:

     

    George
Foreman Enterprises, Inc.

    100 N.
Wilkes-Barre Boulevard

    4th
Floor

    Wilkes-Barre,
PA  18702

    Attention:  Chief
Executive Officer and General Counsel

    

    with a
copy (which shall not constitute notice) to:

    

    Wright
& Reihner

    148 Adams
Avenue

    Scranton,
PA  18503

    

    Attention:  George
Reihner, Esq.

    

    ***  Confidential
Information Redacted

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    

    (ii)           if
to the Foreman Parties, to the address of Foreman on file with GFE on the date
hereof, with a copy (which shall not constitute notice) to:

     

    Morgan
Lewis & Bockius LLP

    77 West
Wacker Drive

    Chicago,
Illinois 60601

    Attention:
Neal Aizenstein, Esq.

    

    or such
other address or Persons as the Parties may from time to time designate in
writing in the manner provided in this Section.

     

    (c)           Entire Agreement.
This Agreement, together with the Schedules and Exhibits attached hereto, and
the other Transaction Documents represent the entire agreement and understanding
of the Parties hereto with respect to the transactions contemplated herein and
therein, and no representations, warranties or covenants have been made in
connection with this Agreement, other than those expressly set forth herein and
therein, or in the certificates delivered in accordance herewith or
therewith.  This Agreement supersedes all prior negotiations, discussions,
correspondence, communications, understandings and agreements among the Parties
relating to the subject matter of this Agreement and such other agreements and
all prior drafts of this Agreement and such other agreements, all of which are
merged into this Agreement.

     

    (d)           Amendments and
Waivers. This Agreement may be amended, superseded, cancelled, renewed or
extended, and the terms hereof may be waived, only by a written instrument
signed by the Parties or, in the case of a waiver, by the Party waiving
compliance. No delay on the part of any Party in exercising any right, power or
privilege hereunder shall operate as a waiver thereof; nor shall any waiver on
the part of any Party of any such right, power or privilege, nor any single or
partial exercise of any such right, power or privilege, preclude any further
exercise thereof or the exercise of any other such right, power or
privilege.

     

    (e)           Severability. This
Agreement shall be deemed severable and the invalidity or unenforceability of
any term or provision hereof shall not affect the validity or enforceability of
this Agreement or of any other term or provision hereof.

     

    (f)           
Headings. The
article and section headings contained in this Agreement are solely for
convenience of reference and shall not affect the meaning or interpretation of
this Agreement or of any term or provision hereof.

     

    (g)           Terms. All references
herein to Articles, Sections, Schedules and Exhibits shall be deemed references
to such parts of this Agreement, unless the context shall otherwise require. All
references to singular or plural shall include the other as the context may
require. Unless otherwise expressly stated, the words “herein,” “hereof,” and
“hereunder” and other words of similar import refer to this Agreement as a whole
and not to any particular Section, Subsection or other subdivision. The words
“include” and “including” shall not be construed as terms of
limitation.

     

    ***  Confidential
Information Redacted

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    (h)           Governing Law; Jurisdiction
and Venue. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York, without giving effect to
choice of law principles. Each Party hereto hereby agrees that any proceeding
relating to this Agreement and the transactions contemplated hereby shall be
brought only in a state court located in New York, New York, or a federal court
located in New York, New York. Each Party hereto hereby consents to personal
jurisdiction in any such action brought in any such New York state or federal
court, consents to service of process by registered mail made upon such Party
and such Party’s agent and waives any objection to venue in any such New York
state or federal court and any claim that any such New York state or federal
court is an inconvenient forum.

     

    (i)           
Remedies. 
In addition to being entitled to exercise any rights provided herein or granted
by Law, including recovery of damages, the Parties will be entitled to specific
performance under this Agreement.  The Parties agree that monetary damages
may not be adequate compensation for any Loss incurred by reason of any breach
of obligations described in the foregoing sentence and herby agree to waive in
any action for specific performance of any such obligation the defense that a
remedy at law would be adequate.

     

    (j)           
Schedules and
Exhibits. The Schedules and Exhibits attached hereto are a part of this
Agreement as if fully set forth herein.

     

    (k)           No Third Party
Beneficiaries. Except as expressly contemplated in this Agreement, this
Agreement shall be binding upon and inure solely to the benefit of each Party
hereto and nothing in this Agreement is intended to confer upon any other Person
any rights or remedies of any nature whatsoever under or by reason of this
Agreement.

     

    (l)           
Expenses. The
Parties shall each bear their own respective transaction fees and expenses
(including fees and expenses of legal counsel, accountants, investment bankers,
brokers, finders or other representatives and consultants) incurred in
connection with the preparation, execution and performance of this Agreement and
the transactions contemplated hereby.

     

    (m)          Publicity. 
Unless otherwise required by applicable Laws, no Party shall make any public
announcements in respect of this Agreement or the transactions contemplated by
this Agreement, or otherwise communicate with any news media regarding this
Agreement or the transactions contemplated hereby without the prior written
consent of the other Party, such consent not to be unreasonably withheld. 
The Foreman Parties acknowledge and agree that GFE will file this Agreement on a
Form 8-K with the Securities and Exchange Commission.

     

    (n)           Non-Disparagement. 
Except for truthful statements that may be made pursuant to legal process,
including without limitation in litigation:

     

    (i)            
each of the GFE Parties agrees that neither it nor its directors or officers
shall make or cause to be made any statement or communicate any information
(whether oral or written) that disparages or reflects negatively on any of the
Foreman Parties; and

     

    (ii)           
each of the Foreman Parties agrees that neither it nor its directors or officers
shall make or cause to be made any statement or communicate any information
(whether oral or written) that disparages or reflects negatively on any of the
GFE Parties.

     

    ***  Confidential
Information Redacted

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    (o)           Construction. The
language used in this Agreement shall be deemed to be the language chosen by the
Parties to express their mutual intent and no rule of strict construction shall
be applied against any Party.

     

    (p)           Counterparts. This
Agreement may be executed in two or more counterparts, each of which shall be
deemed an original and all of which together shall be considered one and the
same agreement.  Signed facsimile copies of this Agreement will legally
bind the Parties to the same extent as original documents.

     

    Remainder
of this Page Intentionally Left Blank

    Signature
Page Follows

    

    ***  Confidential
Information Redacted

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly
executed and delivered as of the date first above written.

     

    
      
        
          
            
              
                	 
      	
                        George
      Foreman Productions, Inc.

                      
	 
      	 
      
	 
      	
                        By:

                      	
                        /s/
      George Foreman

                      
	 
      	
                        Name:

                      	 
      
	 
      	
                        Title:

                      	 
      
	 
      	 
      
	 
      	
                        /s/ George Foreman

                      
	 
      	
                        George
      Foreman

                      
	 
      	 
      
	 
      	
                        George
      Foreman Ventures LLC

                      
	 
      	 
      
	 
      	
                        By:

                      	
                        /s/ Seymour Holtzman

                      
	 
      	
                        Name:

                      	
                        Seymour Holtzman

                      
	 
      	
                        Title:

                      	 
      
	 
      	 
      
	 
      	
                        George
      Foreman Enterprises, Inc.

                      
	 
      	 
      
	 
      	
                        By:

                      	
                        /s/ Seymour Holtzman

                      
	 
      	
                        Name:  

                      	
                        Seymour Holtzman

                      
	 
      	
                        Title:

                      	 
      

              

            

          

        

      

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    STATE OF
______________)

     )           S.S.:

    COUNTY OF
____________)

    

    

    On this
_______ day of April, 2010, before me, the undersigned, a Notary Public in and
for said State, personally appeared ______________________, personally known to
me (or proved to me on the basis of satisfactory evidence) to be the person
whose name is subscribed to the within instrument and acknowledged to me that he
executed the same in his authorized capacity, as _______________________ of
George Foreman Ventures
LLC, and that by his/her signature on the instrument the entity upon
behalf of which the person acted, executed the instrument.

     

    WITNESS
my hand and official seal

     

    
      
        
          
            
              
                
                  	 
      
	
                          Notary
      Public

                        

                

              

            

          

        

      

    

    

    STATE OF
______________)

     )           S.S.:

    COUNTY OF
____________)

    

    

    On this
_______ day of April, 2010, before me, the undersigned, a Notary Public in and
for said State, personally appeared ______________________, personally known to
me (or proved to me on the basis of satisfactory evidence) to be the person
whose name is subscribed to the within instrument and acknowledged to me that he
executed the same in his authorized capacity, as _______________________ of
George Foreman Enterprises,
Inc., and that by his/her signature on the instrument the entity upon
behalf of which the person acted, executed the instrument.

     

    WITNESS
my hand and official seal

    

    
      
        
          
            
              	 
      
	
                      Notary
      Public

                    

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
A

     

    RELEASE

     

    THIS
RELEASE (the “Release”) is made as of this 28th day of May, 2010 (the “Release”)
by and between Seymour Holtzman, on the one hand (the “Releasor”), and George
Foreman (“Foreman”), George Foreman Productions, Inc. (“GF Productions”), George
Foreman, Jr. and George Foreman III, on the other hand (collectively, the
“Released Parties”).

     

    WHEREAS,
this Release is delivered pursuant to that Agreement dated as of May 28,
2010 (the “Agreement”) by and among George Foreman Ventures LLC  and
George Foreman Enterprises, Inc., on the one hand, and GF Productions and
Foreman, on the other hand.

     

    Capitalized
terms used herein and not defined shall have the meanings given to them in the
Agreement.

     

    NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the partners hereby agree as
follows:

     

    The
Releasor does hereby forever release, discharge and acquit the Released Parties
and their respective officers, directors, employees, agents, representatives and
legal counsel and from all Claims based upon arising from, or in any way
connected with or related to any act, omission or state of facts taken or
existing on or prior to the execution of this Release; provided, however, that
the Releasor is not releasing hereunder Foreman or GF Productions with respect
to any claims arising under the terms of the Agreement (“the “Released
Claim”).

     

    The
Releasor acknowledges, agrees, covenants, represents and warrants that
(i) it has not assigned, and will not assign, any Released Claim or
potential Released Claim against the Released Party to any other party and
(ii) it fully intends to release all Released Claims against the Released
Party to the extent provided herein.

     

    The
Releasor further agrees that he will, and will cause his Affiliates to, vote in
favor of actins proposed by George Foreman Enterprises, Inc. to eliminate any
references to George Foreman from its name.

     

    This
Release shall be construed under, and, interpreted in accordance with, the laws
of the State of New York as they exist on the day of this Release is executed,
without giving effect to the choice or conflict of law provisions
thereof.

     

    This
Release shall be binding upon and inure to the benefit of, and be enforceable
by, the signatures hereto and their heirs, executors, admissions, successors and
assigns.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    This
Release may be executed in one or more counter parts, all of which taken
together shall constitute one and the same instrument.

     

    
      
        
          
            
              
                
                  
                    	
                            Dated
      May _____, 2010

                          	 
      	 
      
	 
      	 
      	
                            Seymour
      Holtzman

                          
	 
      	 
      	 
      
	
                            ACKNOWLEDGEMENT:

                          	 
      	 
      
	 
      	 
      	 
      
	
                            Dated
      May _____, 2010

                          	 
      	 
      
	 
      	 
      	
                            George
      Foreman

                          
	 
      	 
      	 
      
	 
      	 
      	
                            George
      Foreman Productions, Inc.

                          
	 
      	 
      	 
      
	
                            Dated
      May _____, 2010

                          	 
      	
                            By:  

                          	 
      
	 
      	 
      	
                            Its:  

                          	 
      
	 
      	 
      	 
      
	
                            Dated
      May _____, 2010

                          	 
      	 
      
	 
      	 
      	
                            George
      Foreman Jr.

                          
	 
      	 
      	 
      
	
                            Dated
      May _____, 2010

                          	 
      	 
      
	 
      	 
      	
                            George
      Foreman,
III

                          

                  

                

              

            

          

        

      

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
B

    

    CONSENT OF
NOTEHOLDER

    

    The
Undersigned, being the holder of an 8% Convertible Promissory Note (“Note”)
issued by George Foreman Enterprises, Inc. (“GFME”) on March 7, 2008 in the
original principal amount of $__________, hereby consents to a waiver of Section
4.01(a) of the Note and Section 4(g) of the Securities Purchase Agreement* in connection with GFME’s
execution of the proposed Agreement between George Foreman Ventures, LLC and
GFME on one hand, and George Foreman and George Foreman Productions, Inc. on the
other hand, in substantially the form presented to the Undersigned on May 6,
2010 by Seymour Holtzman.

    

    The Undersigned acknowledges receipt of
the May 6, 2010 letter from Seymour Holtzman, together with all attachments or
enclosures referenced in the correspondence.

    

    
      
        
          
            	 
      	
                    By:  

                  	 
      
	 
      	 
      	 
      
	 
      	
                    Its:  

                  	 
      

          

        

      

    

    

    Dated:  May
________, 2010

    

    *  Refers
to the Securities Purchase Agreement dated as of March 7, 2008 entered into
between George Foreman Enterprises, Inc. and the Undersigned in connection with
the issuance of the Note.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
C

     

    RELEASE

     

    THIS
RELEASE (the “Release”) is made as of this 28th day of May, 2010 (the “Release”)
by and between George Foreman III, on the one hand, (the “Releasor”) and George
Foreman Ventures LLC (“GFV”) and George Foreman Enterprises, Inc. (“GFE”), on
the other hand (collectively, the “Released Parties”).

     

    WHEREAS,
this Release is delivered pursuant to that Agreement dated as of May 28,
2010 (the “Agreement”) by and among George Foreman Productions, Inc. (“GF
Productions”) and George Foreman (“Foreman”), on the one hand (collectively, the
Foreman Parties”), and the Released Parties, on the other hand.

     

    Capitalized
terms used herein and not defined shall have the meanings given to them in the
Agreement.

     

    NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the partners hereby agree as
follows:

     

    The
Releasor does hereby forever release, discharge and acquit the Released Parties,
their respective Subsidiaries and their respective officers, directors,
employees, agents, representatives and legal counsel and Seymour Holtzman from
all Claims based upon arising from, or in any way connected with or related to
any act, omission or state of facts taken or existing on or prior to the
execution of this Release; provided, however, that (i) the Releasor is not
releasing hereunder GFE or GFV with respect to any claims arising under the
terms of the Agreement; and (ii) the Releasor shall remain entitled to
(x) indemnification pursuant to the certificate of incorporation or bylaws
of GFE and the amended and restated limited liability agreement of GFV and
(y) coverage under any applicable director’s and officer’s liability
insurance policy in effect on or prior to the date hereof (the “Released
Claims”).

     

    The
Releasor acknowledges, agrees, covenants, represents and warrants that
(i) it has not assigned, and will not assign, any Released Claim or
potential Released Claim against the Released Party to any other party and
(ii) it fully intends to release all Released Claims against the Released
Party to the extent provided herein.

     

    This
Release shall be construed under, and, interpreted in accordance with, the laws
of the State of New York as they exist on the day of this Release is executed,
without giving effect to the choice or conflict of law provisions
thereof.

     

    This
Release shall be binding upon and inure to the benefit of, and be enforceable
by, the signatures hereto and their heirs, executors, admissions, successors and
assigns.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    This
Release may be executed in one or more counter parts, all of which taken
together shall constitute one and the same instrument.

     

    
      
        
          
            
              
                
                  	
                          Dated
      May _____, 2010

                        	 
      	 
      
	 
      	 
      	
                          George
      Foreman, III

                        
	 
      	 
      	 
      
	
                          ACKNOWLEDGEMENT:

                        	 
      	
                          George
      Foreman Ventures LLC

                        
	 
      	 
      	 
      
	
                          Dated
      May _____, 2010

                        	 
      	
                          By:

                        	 
      
	 
      	 
      	
                          Its:

                        	 
      
	 
      	 
      	 
      
	 
      	 
      	
                          George
      Foreman Enterprises, Inc.

                        
	 
      	 
      	 
      
	
                          Dated
      May _____, 2010

                        	 
      	
                          By:

                        	 
      
	 
      	 
      	
                          Its:

                        	 
      

                

              

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    RELEASE

     

    THIS
RELEASE (the “Release”) is made as of this 28th day of May, 2010 (the “Release”)
by and between George Foreman Jr., on the one hand, (the “Releasor”) and George
Foreman Ventures LLC (“GFV”) and George Foreman Enterprises, Inc. (“GFE”), on
the other hand (collectively, the “Released Parties”).

     

    WHEREAS,
this Release is delivered pursuant to that Agreement dated as of May 28,
2010 (the “Agreement”) by and among George Foreman Productions, Inc. (“GF
Productions”) and George Foreman (“Foreman”), on the one hand (collectively, the
Foreman Parties”), and the Released Parties, on the other hand.

     

    Capitalized
terms used herein and not defined shall have the meanings given to them in the
Agreement.

     

    NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the partners hereby agree as
follows:

     

    The
Releasor does hereby forever release, discharge and acquit the Released Parties,
their respective Subsidiaries and their respective officers, directors,
employees, agents, representatives and legal counsel and Seymour Holtzman from
all Claims based upon arising from, or in any way connected with or related to
any act, omission or state of facts taken or existing on or prior to the
execution of this Release; provided, however, that (i) the Releasor is not
releasing hereunder GFE or GFV with respect to any claims arising under the
terms of the Agreement; and (ii) the Releasor shall remain entitled to
(x) indemnification pursuant to the certificate of incorporation or bylaws
of GFE and the amended and restated limited liability agreement of GFV and
(y) coverage under any applicable director’s and officer’s liability
insurance policy in effect on or prior to the date hereof (the “Released
Claims”).

     

    The
Releasor acknowledges, agrees, covenants, represents and warrants that
(i) it has not assigned, and will not assign, any Released Claim or
potential Released Claim against the Released Party to any other party and
(ii) it fully intends to release all Released Claims against the Released
Party to the extent provided herein.

     

    This
Release shall be construed under, and, interpreted in accordance with, the laws
of the State of New York as they exist on the day of this Release is executed,
without giving effect to the choice or conflict of law provisions
thereof.

     

    This
Release shall be binding upon and inure to the benefit of, and be enforceable
by, the signatures hereto and their heirs, executors, admissions, successors and
assigns.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    This
Release may be executed in one or more counter parts, all of which taken
together shall constitute one and the same instrument.

     

    
      
        
          
            
              
                
                  	
                          Dated
      May _____, 2010

                        	 
      	 
      
	 
      	 
      	
                          George
      Foreman, Jr.

                        
	 
      	 
      	 
      
	
                          ACKNOWLEDGEMENT:

                        	 
      	
                          George
      Foreman Ventures LLC

                        
	 
      	 
      	 
      
	
                          Dated
      May _____, 2010

                        	 
      	
                          By:

                        	 
      
	 
      	 
      	
                          Its:  

                        	 
      
	 
      	 
      	 
      
	 
      	 
      	
                          George
      Foreman Enterprises, Inc.

                        
	 
      	 
      	 
      
	
                          Dated
      May _____, 2010

                        	 
      	
                          By:

                        	 
      
	 
      	 
      	
                          Its:Unassociated Document

    CONFIDENTIAL
TREATMENT REQUESTED

     

    INFORMATION
FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED IS OMITTED AND IS IDENTIFIED
BY THREE ASTERISKS, AS FOLLOWS “* * *”. AN UNREDACTED VERSION OF THIS DOCUMENT
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION.

     

    AGREEMENT

     

    This
Agreement (the “Agreement”) is
entered into on April ___, 2010 (the “Effective Date”) by
and among George Foreman, individually (“Foreman”), George
Foreman Ventures LLC, a Delaware limited liability company (“GFV”), and United
States Pharmaceutical Group, L.L.C. (d/b/a NationsHealth), a Delaware limited
liability company (together with its Subsidiaries, the “Company”).  All
capitalized terms used herein and not otherwise defined shall have the
respective meaning provided in Section
1.

    

    RECITALS

     

    WHEREAS, the Company desires
to contract with Foreman and GFV and Foreman and GFV desires to contract with
the Company for Foreman to be the Company’s exclusive spokesman for the sale of
Core Diabetic Supplies in accordance with and pursuant to the terms and subject
to the conditions set forth in this Agreement.

     

    NOW, THEREFORE, in
consideration of the foregoing and the representations, warranties, covenants
and agreements contained in this Agreement, and intending to be legally bound
hereby, Foreman, GFV and the Company hereby agree as follows:

     

    1.           Definitions.

     

    “Advertising” means
the use of Foreman Indicia to promote the Core Diabetic Supplies through
television, internet, radio, print and other media advertising, including, but
not limited to, the Commercials, and personal appearances at planned corporate
events or similar events, such as tradeshows or conventions.

     

    “Affiliate” means,
with regard to any Person, (a) any Person, directly or indirectly, controlled
by, under common control of, or controlling such Person; (b) any Person that,
through Contract, relationship or otherwise, exerts a substantial influence on
the management of such Person’s affairs; (c) any Person that, through Contract,
relationship or otherwise, is influenced substantially in the management of its
affairs by such Person; (d) any director, officer, partner or individual holding
a similar position in respect of such Person; or (e) as to any natural Person,
any Person’s spouse, parent or minor child.

     

    “Authority” means any
governmental, regulatory or administrative body, agency, commission, board,
arbitrator or authority, any court or judicial authority, any public, private or
industry regulatory authority, whether international, national, federal, state
or local.

     

    “Commercial” means the
production of a direct-to-consumer television advertisement paid for by the
Company and featuring Foreman as a spokesman for the Core Diabetic Supplies,
which shall be distributed through television in the United States.

     

    “Contract” means any
agreement, contract, commitment, instrument, document, certificate or other
binding arrangement or understanding, whether written or oral.

    
       

      ***  Confidential
Information Redacted

        
          
             

          

          
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    “Core Diabetic
Supplies” means diabetic related supplies and products sold, promoted
and/or marketed by the Company, including, but not limited to, diabetic strips,
lancets, meters, control solutions, insulin delivery devices or systems or
insulin syringes.

     

    “Foreman Indicia”
means the name, image, signature and likeness of the celebrity George
Foreman.

     

    “Person” means any
corporation, partnership, joint venture, limited liability company,
organization, entity, Authority or natural person.

     

    “Qualified Lead” means
any individual who (a) is a diabetic or is calling on behalf of a diabetic, (b)
receives Medicare or participates in a Medicaid that the Company accepts or is a
member of a primary insurance that the Company accepts, (c) calls a dedicated
toll free advertising number, contacts the Company via the internet through a
specific line on the Company’s website or otherwise mentions Foreman in
connection with a phone call or internet communication to the Company or any
third party service provider, and (d) receives any Core Diabetic Supplies
from the Company (it being understood that any person who satisfies
(a) through (d) above with respect to the initial sale shall be a Qualified
Lead for purposes of this Agreement and with respect to any sales by the Company
of products or services to such individual, such sales shall be included as part
of the Total Diabetes Profit).

     

    “Subsidiary” means any
person or entity in which the Company, directly or indirectly through
Subsidiaries or otherwise, beneficially owns more than fifty percent of either
the equity interests in, or the voting control, of such person or
entity.

     

    “Total Diabetes
Profit” means the sum of:  (a) the net sales by the Company of
any products or services to Qualified Leads; minus (b) the
directly related cost of sales or services for the products or services sold to
Qualified Leads; minus (c) the
following operating expenses incurred by the Company in connection with the sale
by the Company of products or services  to Qualified
Leads:  patient acquisition and related costs; patient service and
fulfillment; sales and administrative; provision for doubtful accounts; the fees
paid to Foreman and GFV hereunder; and any other direct and indirect costs and
expenses incurred by the Company in connection with the sale by the Company of
products and services to a Qualified Lead, in the case of each of clauses (a)
through (c), determined in accordance with U.S. generally accepted accounting
principles as in effect on the date of any calculation hereunder; provided, that (i)
the costs and expenses included pursuant to clause (b) and (c) shall be
allocated on a good faith and reasonable basis of such costs and expenses
relating to the sale of products or services to Qualified Leads and shall not
include any management fees; and (ii) the Qualified Lead Consideration paid
or payable pursuant to this Agreement shall be excluded from the calculation of
the Total Diabetes Profit.

     

    2.           Retention and Appointment of
Foreman.  The Company hereby retains and appoints Foreman and
Foreman hereby accepts such appointment on the terms and conditions provided in
this Agreement as the Company’s exclusive spokesman for the sale of Core
Diabetic Supplies.

     

    ***  Confidential Information Redacted

    
      
         

      

      
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    3.           Services.  During
the Term (as defined below), Foreman on a consulting basis shall be the
Company’s exclusive spokesman for the sale of Core Diabetic Supplies, including,
without limitation, developing and participating in Commercials, and promoting
and assisting the Company in marketing and advertising the Core Diabetic
Supplies through Advertising (the “Services”); provided, however, that each
Commercial and each personal appearance, promotional material, advertisement and
marketing program involving Foreman shall be approved in writing by each of the
Company and Foreman prior to their production and
use.  Notwithstanding anything in this Agreement to the contrary,
without the prior written approval of Foreman, subject to Section 4 hereof, the
Services hereunder shall be limited during each twelve month period during the
Term to [***] in connection with the shooting of a Commercial and the production
of other radio or print media Advertising and up to [***] in connection with
personal appearances at planned corporate or media events or other similar
events, such as tradeshows or conventions.  Foreman shall perform the
Services at times and places reasonably convenient to Foreman and the Company
and subject to Foreman’s and the Company’s other commitments.  The
Company acknowledges that Foreman shall not be required to perform services on
any Saturday or Sunday, nor to perform services on any Wednesday outside of
Houston or that would conflict with Foreman’s community and religious
obligations on such day.

     

    4.           Consideration.  In
full consideration for Foreman’s services under this Agreement, the Company will
pay Foreman and GFV, as follows:

     

    (a)           Cash
Payments.

     

    (i)           Upon
the execution and delivery of this Agreement by the Company, GFV, and Foreman,
the Company shall pay to each of Foreman and GFV an aggregate cash amount equal
to [***] by wire transfer of immediately available funds to an account
designated in writing by Foreman and GFV, respectively.

     

    (ii)          Upon
completion of the filming for the Company’s initial Commercial, the Company
shall pay to each of Foreman and GFV an aggregate cash amount equal to [***] by
wire transfer of immediately available funds to an account designated in writing
by Foreman and GFV, respectively.

     

    (iii)         Upon
completion of the filming of each additional Commercial, the Company shall pay
to each of Foreman and GFV an aggregate cash amount equal to [***] by wire
transfer of immediately available funds to an account designated in writing by
Foreman and GFV, respectively.

     

    (iv)         For
each personal appearance by Foreman during any calendar year after Foreman’s
first personal appearance in such calendar year, the Company shall pay to
Foreman an aggregate cash amount equal to [***] by wire transfer of immediately
available funds to an account designated in writing by Foreman.

     

    ***  Confidential Information Redacted

    
      
         

      

      
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    (b)           Qualified Lead
Consideration.  The Company shall pay to (i) Foreman (by wire
transfer of immediately available funds to an account designated in writing by
Foreman) an aggregate cash amount equal to [***] per Qualified Lead generated
during the Term; and (ii) GFV (by wire transfer of immediately available funds
to an account designated in writing by GFV) an aggregate cash amount equal to
[**] per Qualified Lead generated during the Term (the aggregate amount payable
to Foreman and GFV pursuant to clauses (i) and (ii), the “Qualified Lead
Consideration”).  The Company shall pay the Qualified Lead
Consideration within [***] after the end of each calendar year quarter ending on
each March 31st, June 30th, September 30th and December 31st during the Term
and, if applicable, within [***] after the expiration of the Term or termination
of this Agreement.  In connection with the payment of each Qualified
Lead Consideration, the Company shall deliver to Foreman and GFV a detailed
calculation of such Qualified Lead Consideration certified by the Chief
Financial Officer of the Company (the “Qualified Lead Consideration
Calculation”) and reasonable supporting information.  In the
event Foreman or GFV objects to the Qualified Lead Consideration Calculation,
Foreman or GFV, as the case may be, shall deliver to the Company a written
statement within [***] of delivery of the Qualified Lead Consideration
Calculation stating Foreman’s or GFV’s, as the case may be, objection and
proposed adjustments (the “Qualified Lead Adjustment
Statement”).  If Foreman or GFV, as the case may be, delivers a
Qualified Lead Adjustment Statement to the Company, the Company and Foreman or
GFV, as the case may be, shall attempt in good faith to resolve their dispute
regarding the Qualified Lead Consideration Calculation, but if a final
resolution thereof is not obtained within ten (10) days after Foreman or GFV, as
the case may be, delivers to the Company such Qualified Lead Adjustment
Statement, either the Company, on the one hand, or Foreman or GFV, as the case
may be, on the other hand, may retain an accounting firm satisfactory to both
the Company and Foreman or GFV, as the case may be, (the “Independent
Accountant”) to resolve any remaining disputes concerning the Qualified
Lead Adjustment Statement.  If the Independent Accountant is retained,
(i) the Independent Accountant’s decision as to the Qualified Lead Calculation
shall be final and binding on, and non-appealable by, the Company, Foreman and
GFV, and (ii) the fees and expenses of the Independent Accountant shall be paid
by the party whose estimate of the Qualified Lead Calculation is furthest from
the Independent Accountant’s calculation of the Qualified Lead
Calculation.

     

    ***  Confidential Information Redacted

    
      
         

      

      
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    (c)           Profit Sharing
Consideration.  During the Term and after termination of this
Agreement with respect to the Total Diabetes Profit associated with each
Qualified Lead, the Company shall pay to (i) Foreman (by wire transfer of
immediately available funds to an account designated in writing by Foreman) an
aggregate amount equal to [***] of the Total Diabetes Profit for each calendar
year minus the
Qualified Lead Consideration paid in accordance with Section 4(b); and (ii) GFV
(by wire transfer of immediately available funds to an account designated in
writing by GFV) an aggregate amount equal to [***] of the Total Diabetes Profit
for each calendar year minus the Qualified
Lead Consideration paid in accordance with Section 4(b) (the aggregate amount
payable to Foreman and GFV pursuant to clauses (i) and (ii), the “Profit Sharing
Consideration”).  For illustration purposes only, if a diabetic
patient generates [***] of Total Diabetes Profit per year for [***], the Company
would pay to each of Foreman and GFV pursuant to this Section 4(c) an aggregate
cash amount equal to [***].  The Company shall pay the Profit Sharing
Consideration within [***] after the end of each calendar year during the Term
and after termination of this Agreement for as long as there is any Total
Diabetes Profit.  In connection with the payment of each Profit
Sharing Consideration, the Company shall deliver to Foreman and GFV a
calculation of such Profit Sharing Consideration certified by the Chief
Financial Officer of the Company (the “Profit Sharing Consideration
Calculation”) and reasonable supporting information, including the
Company’s audited consolidated statements of operations, stockholders’ equity
and cash flows for such calendar year and audited consolidated balance sheet as
of December 31st of such calendar year; provided, that the
Company’s Board of Directors in good faith elects to release such financial
statements to Foreman and GFV, as the case may be, in which any financial
statements released to Foreman and GFV shall be considered Confidential
Information (as defined in Section 16
hereof).  In the event Foreman or GFV, as the case may be, objects to
the Profit Sharing Consideration Calculation, Foreman or GFV, as the case may
be, shall deliver to the Company a written statement within thirty (30) days of
delivery of the Profit Sharing Consideration Calculation stating Foreman’s or
GFV’s, as the case may be, objection and proposed adjustments (the “Profit Sharing Adjustment
Statement”).  If Foreman or GFV, as the case may be, delivers a
Profit Sharing Adjustment Statement to the Company, the Company and Foreman or
GFV, as the case may be, shall attempt in good faith to resolve their dispute
regarding the Profit Sharing Consideration Calculation, but if a final
resolution thereof is not obtained within ten (10) days after Foreman or GFV, as
the case may be, delivers to the Company such Profit Sharing Adjustment
Statement, either the Company, on the one hand, or Foreman or GFV, as the case
may be, on the other hand, may retain the Independent Accountant to resolve any
remaining disputes concerning the Profit Sharing Adjustment
Statement.  If the Independent Accountant is retained, (i) the
Independent Accountant’s decision as to the Profit Sharing Consideration
Calculation shall be final and binding on, and non-appealable by, the Company,
Foreman and GFV and (ii) the fees and expenses of the Independent Accountant
shall be paid by the party whose estimate of the Profit Sharing Consideration
Calculation is furthest from the Independent Accountant’s calculation of the
Profit Sharing Consideration Calculation.

     

    (d)           Books and
Records.  After delivery of the Qualified Lead Consideration
Calculation and/or the Profit Sharing Consideration Calculation, the Company
shall make available to Foreman and GFV and one (1) of their respective
representatives for one (1) day twice in any calendar year during the Term and
for one (1) day twice during the twelve (12) months following expiration of the
Term, upon at least forty eight (48) hours prior written notice and during
normal business hours, all books, records, work papers, one (1) accounting
personnel and other materials and sources used by the Company to prepare such
calculations.

     

    (e)           Default
Payments.  If the Company is in default with the payment of the
Qualified Lead Consideration or Profit Sharing Consideration to Foreman or GFV,
then without limiting any of Foreman’s or GFV’s, as the case may be, rights or
remedies, the Company shall pay Foreman or GFV, as the case may be, interest on
such unpaid amount at a rate equal to [***] commencing thirty (30) days after
such amount are due and owing; provided, that such
interest shall not accrue on any portion of the unpaid amount that is disputed
in good faith by the Company.

     

    (f)           Additional
Consideration.

     

    (i)           In
the event Foreman decides to introduce and makes such introduction to the
Company during the Term to any products and/or services that the Company is not
selling or marketing at the time of such introduction and the Company decides to
sell and market any such products and/or services during the Term, the Company
and Foreman shall enter into a joint venture agreement with respect to such
products and/or services in which any profits derived therefrom shall be divided
equally between the Company and Foreman.

     

    ***  Confidential Information Redacted

    
      
         

      

      
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    (ii)          In
the event GFV decides to introduce and makes such introduction to the Company
during the Term to any products and/or services that the Company is not selling
or marketing at the time of such introduction and the Company decides to sell
and market any such products and/or services during the Term, the Company and
GFV shall enter into a joint venture agreement with respect to such products
and/or services in which any profits derived therefrom shall be divided equally
between the Company and GFV.

     

    5.           Reimbursement of
Expenses.  During the Term, the Company shall pay or reimburse
Foreman for all reasonable and necessary travel, entertainment and other
expenses, including the cost of transportation, lodging and meals incurred by
Foreman in connection with providing the services performed by Foreman
hereunder.  In order for the Company to reimburse Foreman for such
allowable expense, Foreman shall furnish to the Company, in a timely manner,
written documentation in connection with such expenses and shall furnish such
other documentation and accounting as the Company may from time to time
reasonably request.  The Company acknowledges that, to the extent
Foreman is required to travel more than 50 miles outside of Houston, Texas in
connection with the performance of his Services, Foreman will be given round
trip first class ticket and, if used, a companion ticket (by air if appropriate,
between Houston, Texas and such destination), exclusive limousine ground
transportation and five-star first class hotel (suite, if available plus a
separate room for Foreman’s companion)
accommodations.  Notwithstanding the foregoing, Foreman may elect to
arrange for alternate means of transportation in lieu of any air transportation
otherwise to be provided for by the Company pursuant to the preceding sentence,
for which Foreman shall be entitled to be reimbursed, for his actual and
reasonable alternative transportation costs but in no event to exceed the costs
of the first class air transportation offered by the Company.

     

    6.           Covenants.

     

    (a)           The
Company shall comply in all material respects with all material laws and
regulations applicable to its business of marketing and selling Core Diabetic
Supplies (including, but not limited to, all applicable health and safety and
privacy laws and regulations) and maintain all necessary and material licenses
and permits.

     

    (b)           The
Company shall maintain full and accurate books and records showing, at a
minimum, the list of Qualified Leads and sales and cost information necessary to
compute the Qualified Lead Consideration and Profit Sharing
Consideration.

     

    (c)           The
Company shall promptly notify Foreman and GFV in writing in the event that any
governmental entity makes any claim that the marketing and/or sale of any Core
Diabetic Supplies by the Company does not comply in any material respect with
any material applicable law or regulation.

     

    (d)           The
Company shall maintain in full force and effect during the Term comprehensive
general liability insurance, including coverage for products liability and
personal injury, naming Foreman as an additional insured, from a qualified
insurance carrier, with respect to all claims and damages arising out of the
manufacture, distribution, sale, offering for sale and use of any Core Diabetic
Supplies.  Such insurance policies shall have aggregate policy limits
of at least $1,000,000 per occurrence and $5,000,000 in the
aggregate.  The policies shall specify that they may not be cancelled
by the insurer except after 30 days’ prior written notice by the insurer to
Foreman.  The Company agrees to provide Foreman evidence of such
insurance coverage at the reasonable request of Foreman.

     

    ***  Confidential Information Redacted

    
      
         

      

      
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    (e)           The
Company agrees to use its commercially reasonable best efforts to provide that
all Advertising shall include a prompt to call an 800 (toll-free) number, which
shall be a separate dedicated line for all Advertising, or a particular website
that will monitor the number of calls made, or Internet orders in response to
such Advertising.  Without limiting the generality of the foregoing,
the Company agrees to establish phone call and internet procedures reasonably
acceptable to Foreman and GFV to identify and establish Qualified Leads during
the Term.

     

    (f)           Subject
to Section 3
hereof, the Company and Foreman agree to cooperate to arrange a mutually
acceptable time and place to film the initial Commercial within [***] after the
Effective Date (so that the Company may begin distributing the initial
Commercial through television in the United States as soon as practicable) and
an additional Commercial during each calendar year ending December 31, 2010,
2011 and 2012.

     

    (g)           Each
of the Company, GFV, and Foreman agrees that it will not knowingly permit, do or
commit any act or thing that would degrade, tarnish or deprecate the other
party’s or its public image in society or standing in the
community.

     

    (h)           The
Company agrees that no business operation of the Company currently involves or
shall involve the sale or distribution of alcohol or tobacco products, firearms,
political statements or sexual content.

     

    7.           Term; Termination;
Survival.

     

    (a)           The
term of this Agreement shall be for a period commencing on the Effective Date
and ending on the [***] anniversary of the Effective Date (the “Term”); provided, however, that in the
event Foreman is paid an aggregate amount of (i) [***] hereunder by the Company
during the final twelve (12) month period of the Term or (ii) [***] hereunder by
the Company during the Term, the Company shall have the right, but not the
obligation, to extend the Term for an additional [***] period (the “Extension Period”) on
the terms and conditions set forth herein (the “Extension Right”);
provided, further, however, that the
Company shall have the Extension Right during the Term and each Extension Period
(if any).

     

    (b)           This
Agreement may be terminated at any time by the mutual written consent of the
parties hereto.

     

    (c)           Either
party shall have the right to terminate this Agreement if the other party
breaches any material term or condition of this Agreement that is capable of
being cured and fails to cure such breach within thirty (30) days after written
notice from the non-breaching party; provided, however, that the
non-breaching party shall extend the deadline for curing any breach
appropriately if it is capable of being cured but not reasonably within thirty
(30) days.

     

    (d)           In
the event the Agreement is terminated due to a breach by the Company, (i) the
Company shall immediately discontinue the use or display of Commercials or any
Foreman Indicia in any of the Company’s promotions or advertising or marketing
campaigns and (ii) the restrictive covenants set forth in Section 16 and 20 shall
terminate.

     

    ***  Confidential Information Redacted

    
      
         

      

      
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    (e)           This
Agreement may be terminated by Foreman and GFV upon written notice to the
Company if the Company becomes insolvent or seeks protection under bankruptcy,
receivership, trust deed, creditor arrangement, composition or comparable
proceeding, or if any such proceeding is instituted against the Company and not
dismissed within ninety (90) days.

     

    (f)       
    In the event that the Agreement is terminated due to
breach by Foreman or GFV, the restrictive covenants in Section 16 and 20 shall survive in
accordance with the terms and conditions herein.

     

    (g)           The
provisions of Sections
4, 5,
6, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, and 31 shall survive any
expiration or termination of this Agreement for any reason in accordance with
the terms and conditions herein.

     

    (h)           In
the event that the Agreement is terminated, (i) Foreman and/or GFV, as the case
may be, shall immediately return to the Company all Confidential Information (as
defined below) in its possession or control, and shall provide the Company with
a written certification as to the return of such Confidential Information, (ii)
pursuant to Section
7(c) or Section
7(f), the Company shall make any payments hereunder in accordance with
Section 4(b)
and Section
4(c), as applicable, through the date of such termination to Foreman and
GFV, and all payments obligations shall cease as of such date of termination,
and (iii) pursuant to Section 7(c), Section (d), or Section 7(e), the
Company shall make any payments hereunder in accordance with Section 4(b) and
Section 4(c),
as applicable, to Foreman and GFV.

     

    8.           Grant of
License.  Subject to the terms and conditions hereof, Foreman
hereby grants to the Company an exclusive worldwide license to use the Foreman
Indicia in connection with the Advertising.  Except for the limited
license specifically provided herein, all right, title and interest in all
Foreman Indicia with respect to the Advertising are and shall remain Foreman’s
and Foreman is not transferring to the Company any right or interest in any
copyright, trademark or service mark relating to the Foreman Indicia or to any
elements thereof or any other copyright, trademark or service mark owned by
Foreman or to any elements thereof.  All Advertising shall bear such
trademark or other notices of which Foreman may notify the Company in writing;
provided, that
such marks are reasonable and do not distort or adversely affect the
Advertising.  The Company and Foreman shall mutually agree as to form,
location and content of such trademarks and service marks.

     

    9.           Representations and
Warranties.

     

    (a)           Foreman
represents and warrants to the Company that:

     

    (i)           Foreman
has all requisite power and authority to execute, deliver and perform, this
Agreement and to consummate the transactions contemplated
hereunder.

     

    (ii)          When
executed and delivered, this Agreement will constitute the legal, valid and
binding obligation of Foreman, enforceable against Foreman in accordance with
its terms subject to bankruptcy and equitable exceptions.

     

    ***  Confidential Information Redacted

    
      
         

      

      
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    (iii)         The
execution and delivery of this Agreement by him and the performance by Foreman
of his obligations hereunder, shall not constitute (with or without notice or
lapse of time or both) a default, breach or violation of any contract or
agreement, to which Foreman is a party or to which Foreman is or may be
bound.

     

    (iv)         All
Foreman Indicia (a) shall be accurate and Foreman’s own and original creation,
except for information validly licensed for use by Foreman or in the public
domain; (b) will consist only of information that Foreman is authorized to use
and to authorize the Company to use as contemplated in this Agreement; (c) will
not constitute a libel or defamation or conflict with any copyright, right of
privacy or other rights of, and will not cause injury to, any third party; (d)
will conform to all applicable federal, state and local laws and regulations and
any other governmental or quasi- governmental laws or regulations of the United
States or any other country; and (e) is owned by Foreman.

     

    (v)          Foreman
has the full right and authority to grant the rights and licenses set forth
herein.

     

    (vi)         The
Company shall be entitled at any time to bring any concerns it has regarding the
Foreman Indicia to the attention of Foreman, whereupon the parties will
cooperate in good faith to address the Company’s concerns.  If the
Company, in its reasonable judgment, believes that immediate action is required
with regard to any of the Foreman Indicia to avoid any violation of applicable
laws or breach of any contract, agreement or arrangement, the Company may
delete, modify or revise  such information; provided, that the
Company shall notify Foreman of such action prior thereto, if reasonably
possible (or, if not, as soon thereafter as commercially
practicable).  In the event Foreman ceases to maintain his
high-profile as a pre-eminent spokesperson and/or entertainer, and becomes
completely inactive as an endorser, Foreman agrees to discuss in good faith with
the Company some protection to the rights and obligations
hereunder.

     

    (b)           GFV
represents and warrants to the Company that:

     

    (i)           GFV
has all requisite power and authority to execute, deliver and perform, this
Agreement and to consummate the transactions contemplated
hereunder.

     

    (ii)          When
executed and delivered, this Agreement will constitute the legal, valid and
binding obligation of GFV, enforceable against GFV in accordance with its terms
subject to bankruptcy and equitable exceptions.

     

    (iii)         The
execution and delivery of this Agreement by GFV and the performance by GFV of
its obligations hereunder, shall not constitute (with or without notice or lapse
of time or both) a default, breach or violation of any contract or agreement, to
which GFV is a party or to which GFV is or may be bound.

     

    (c)           The
Company represents and warrants to Foreman and GFV that:

     

    (i)           The
Company has all requisite power and authority to execute, deliver and perform
this Agreement and to consummate the transactions contemplated
hereunder.

     

    ***  Confidential Information Redacted

    
      
         

      

      
        - 9
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    (ii)          When
executed and delivered, this Agreement will constitute the legal, valid and
binding obligation of the Company, enforceable against the Company in accordance
with its terms subject to bankruptcy and equitable exceptions.

     

    (iii)         The
execution and delivery of this Agreement by the Company and the performance by
the Company of its obligations hereunder, shall not constitute (with or without
notice or lapse of time or both) a default, breach or violation of any contract
or agreement which the Company is a party or to which the Company is or may be
bound.

     

    (iv)         The
dialogue and material written or used by the Company in any Advertising shall be
wholly original and will not constitute a libel or defamation or conflict with
any copyright, right of privacy or other rights of, and will not cause injury
to, any third party.

     

    10.           Press
Release.  It is the intent of the parties to issue a joint
press release announcing the formation of the relationship created hereby; provided, that it is
agreed, except as required by law or by the Securities and Exchange Commission
(upon an opinion by counsel of such party) or in connection with the performance
and enforcement of this Agreement, no party will issue any such press release or
disclose the terms of this Agreement without the prior written consent of the
other parties.

     

    11.           Enforcement Action.
If either party obtains information that the rights granted by Foreman to the
Company have been breached by a third party, such information shall be promptly
transmitted to the other party.  As between the Company and Foreman,
any litigation or other action to police the Foreman Indicia and to abate
infringement shall be under the complete control of Foreman; provided, however, that the
Company agrees to cooperate in any such litigation and to commence appropriate
action if requested to do so by Foreman, but only to the extent approved by the
Company’s outside counsel and further subject to mutual agreement among the
Company and Foreman regarding division of the expense of retaining outside
counsel.

     

    12.           Arbitration.  The
parties are desirous of reducing the time and costs of resolving
disputes.  Accordingly, any claim or controversy arising out of or in
connection with the construction or application of any term, provision or
condition of this Agreement shall be settled by final and binding arbitration in
the State of New York under the Rules of the American Arbitration Association;
provided, however, that any
such matter submitted to arbitration shall be presided over by a panel of at
least three (3) arbitrators who each shall have experience in the area of
commercial law.  The decision of the arbitrators shall be binding upon
the parties.  The reasonable cost of arbitration shall be borne by the
losing party or in such proportion as the arbitrators shall
decide.  Judgment on the award rendered by the arbitrator may be
entered in any court in the world having jurisdiction.

     

    13.           Indemnification by the
Company.  The Company shall indemnify, defend and hold Foreman
and GFV harmless from and against all claims, costs, liabilities, judgments,
expenses or damages (including reasonable attorneys’ fees and court costs)
arising from or related to (a) the Company’s business or operation,
including without limitation, from the manufacture, marketing, sale or
distribution of any products or services, or from infringement of any patent,
trademark, copyright or other proprietary rights (other than a cause of action
relating to the Foreman Indicia) in connection with any of the Company’s
products or services and (b) any claims of third parties against Foreman or
GFV arising from or related to any breach of any of the Company’s
representations, warranties, covenants and agreements hereunder; provided, that the
Company shall be accorded full control of the defense and/or settlement of any
claims relating to the Company so long as any consent to entry of any judgment
or entry into any settlement includes as an unconditional term thereof the
giving by the claimant or plaintiff to Foreman or GFV, as the case may be, of a
release from all liability with respect to such claim.

     

    ***  Confidential Information Redacted

    
      
         

      

      
        - 10
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    14.           Indemnification by Foreman;
GFV.

     

    (a)           Foreman
shall indemnify, defend and hold the Company harmless from and against all
claims, costs, liabilities, judgments, expenses or damages (including reasonable
attorneys’ fees and court costs) any claims of third parties against the Company
arising from or related to any breach of any of Foreman’s representations,
warranties, covenants and agreements hereunder; provided, that
Foreman shall be accorded full control of the defense and/or settlement of any
claims relating to the Foreman Indicia so long as any consent to entry of any
judgment or entry into any settlement includes as an unconditional term thereof
the giving by the claimant or plaintiff to the Company of a release from all
liability with respect to such claim.

     

    (b)           GFV
shall indemnify, defend and hold the Company harmless from and against all
claims, costs, liabilities, judgments, expenses or damages (including reasonable
attorneys’ fees and court costs) any claims of third parties against the Company
arising from or related to any breach of any of GFV’s representations,
warranties, covenants and agreements hereunder; provided, that GFV
shall be accorded full control of the defense and/or settlement of any claims
relating to GFV so long as any consent to entry of any judgment or entry into
any settlement includes as an unconditional term thereof the giving by the
claimant or plaintiff to the Company of a release from all liability with
respect to such claim.

     

    15.           LIMITATION OF
LIABILITY.  NOTWITHSTANDING ANYTHING STATED OR IMPLIED TO THE
CONTRARY HEREIN, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER FOR
EXEMPLARY, PUNITIVE, INCIDENTAL, OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT
LIMITED TO LOST PROFITS, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, IN
ANY MANNER ARISING OUT OF THIS AGREEMENT OR THE BREACH OF ANY TERM, COVENANT,
REPRESENTATION, WARRANTY OR OBLIGATION CONTAINED HEREIN.

     

    ***  Confidential Information Redacted

    
      
         

      

      
        - 11
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    16.           Confidential
Information.  Each of Foreman, GFV and their respective
Affiliates recognizes and acknowledges that such Person has had, and will have,
access to Confidential Information (as defined below) and that such Confidential
Information constitutes special, unique and valuable property of the
Company.  Each of Foreman, GFV and their respective Affiliates
acknowledges that the Confidential Information is and shall remain the exclusive
property of the Company.  Each of Foreman, GFV and their respective
Affiliates agrees that such Person will not at any time without the prior
written consent of the Company (whether during the Term or at any time
thereafter) utilize such Confidential Information for such Person’s own benefit,
for the benefit of any third party or to the detriment of the Company, or
disclose such Confidential Information to anyone outside the Company other than
as shall be necessary in connection with the performance of such Person’s
obligations hereunder or as permitted hereunder.  Each of Foreman, GFV
and their respective Affiliates agrees that the foregoing restrictions shall
apply whether or not such information is marked “Confidential”.  For
purposes of this Agreement, the term “Confidential
Information” shall mean any confidential, proprietary or non-public
information, whether written or oral, tangible or intangible, of or concerning
the Company and parties with whom the Company does business, and shall include,
without limitation, scientific, trade and engineering secrets, “know- how”,
formulas, secret processes, drawings, specifications, engineering, hardware
configuration information, works of authorship, machines, inventions, concepts,
computer programs (including documentation of such programs), images, text,
source code, object code, html code, scripts, flow charts, routines, compilers,
assemblers, designs and all modifications, enhancements and options thereto,
services, materials, patent applications, new product and other plans, technical
information, technical improvements, manufacturing techniques, specifications,
manufacturing and test data, progress reports and research projects, business
plans, prospects, financial information, information about costs, profits,
markets, sales, customers and suppliers, procurement and promotional
information, credit and financial data concerning customers or suppliers,
information relating to the management, operation and planning of the Company
and plans for future development and other information of a similar nature to
the extent not available to the public.  The Company acknowledges that
for purposes of this Agreement, the term “Confidential
Information” shall not include information which (a) was demonstrably
known to Foreman or GFV prior to the Effective Date, (b) is independently
developed by Foreman or GFV not in violation of this Agreement or learned by
Foreman or GFV from a third party who is not under an obligation of confidence
to the Company or parties with whom the Company does business, or (c) becomes
generally available to the public other than by breach of this Section
16.  In the event that Foreman or GFV becomes legally required
(whether by deposition, interrogatories, requests for information or documents,
subpoenas, civil investigative demands and similar processes and/or other legal
means) to disclose any Confidential Information, such Person will provide the
Company with prompt notice thereof so the Company may seek a protective order or
other appropriate remedy and Foreman or GFV, as the case may be, will use such
Person’s reasonable efforts to cooperate with and assist the Company in securing
such protective order or other remedy; provided, that
Foreman or GFV, as the case may be, will be reimbursed by the Company for all of
such Person’s reasonable expenses in connection with such
cooperation.  In the event that such protective order is not obtained,
or that the Company waives compliance with the provisions of this Section 16 to permit
a particular disclosure, Foreman or GFV, as the case may be, shall furnish only
that portion of the Confidential Information which such Person is advised by
counsel in writing is legally required to be disclosed and shall exercise such
Person’s reasonable best efforts to cooperate with the Company to obtain
reliable assurances that confidential treatment will be afforded the
Confidential Information; provided, that
Foreman or GFV, as the case may be, will be reimbursed by the Company for all
such Person’s reasonable expenses in connection with such
cooperation.  Each of Foreman ,GFV and their respective Affiliates
further agrees that all memoranda, disks, files, notes, records or other
documents which contain Confidential Information, whether in electronic form or
hard copy, and whether created by Foreman, GFV or any of their respective
Affiliates or others, which come into such Person’s possession, shall be and
remain the exclusive property of the Company to be used by Foreman or GFV only
in the performance of such Person’s obligations hereunder.

     

    ***  Confidential Information Redacted

    
      
         

      

      
        - 12
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    17.           Return of Documents and
Property.  Upon the termination of Foreman’s consulting
relationship with the Company or at any other time upon the request of the
Company, Foreman, GFV, and/or their respective Affiliates, heirs or personal
representatives (a) shall deliver to the Company all memoranda, disks, files,
notes, records or other documents which contain or are based upon Confidential
Information and shall not retain any copies thereof in any format or storage
medium (including computer disk or memory), and (b) use good faith efforts to
purge from any computer system in his possession other than those owned by and
returned to the Company, all computer files which contain or are based upon any
Confidential Information and confirm such purging in writing to the
Company.

     

    18.           Intellectual Property
Rights.  The Company acknowledges that as between Foreman, on
the one hand, and the Company, on the other hand, the Company is the licensee of
all right, title and interest in and to the Foreman Indicia with respect to the
Advertising and in all copyrights, trademarks and other rights associated
therewith, and is the owner of all artwork, copy, literary text, advertising and
promotional material of any sort which utilize the foregoing (including all such
materials developed by or under the authority of the Company), and the goodwill
pertaining to all of the foregoing.  Except for the license
specifically provided herein, Foreman is not transferring to the Company any
right, title or interest in and to the Foreman Indicia or any copyrights,
trademarks and other rights associated therewith.  Without limiting
the generality of the foregoing, the Company may not use any Advertising or
Commercial after expiration of the Term, except that the Company may retain one
archival copy for its records.

     

    19.           Grant of
Rights.

     

    (a)           Each
of Foreman and GFV acknowledges and agrees that Foreman and GFV shall not have
any approval rights over the Company’s business or operation, including, but not
limited to, the Company’s use of media brokers, media buyers, manufacturers,
telemarketers, or fulfillment entities in connection with the Company’s
performance of its duties hereunder or otherwise in connection herewith; provided, however, that the
Company shall not use a Commercial or any Advertising unless such Commercial or
Advertising has been previously approved in writing by Foreman.

     

    (b)           Notwithstanding
any implication herein to the contrary, the Company shall not have the right to
edit, delete, add to or combine any Commercial or Advertising without Foreman’s
prior written approval; provided, however, that the
Company shall have the right to edit, delete, add to or combine any Commercial
or Advertising without Forman’s prior written approval if such edit, deletion,
addition or combination is immaterial.

     

    20.           Exclusivity;
Non-Competition.

     

    (a)           Each
of Foreman, GFV and their respective Affiliates acknowledges that (i) the
Company engages in a competitive business, (ii) Foreman and GFV services and
responsibilities are unique in character and are of particular significance to
the Company, (iii) Foreman’s and GFV’s relationship with the Company will place
such Person in a position of confidence and trust with the customers, suppliers
and employees of the Company, and (iv) Foreman’s and GFV’s position with the
Company has and will provide such Person access to Confidential Information
which is valuable and material to the business and competitive position to the
Company.

     

    ***  Confidential Information Redacted

    
      
         

      

      
        - 13
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    (b)           Each
of Foreman, GFV and their respective Affiliates therefore agrees that during the
Term (the “Restricted
Period”) and for a period of [***] after termination of this Agreement,
unless such termination is due to or results from a breach of this Agreement by
the Company, in which case the Restricted Period shall end on such termination
date, such Person will not, directly or indirectly, as an individual proprietor,
partner, shareholder, member, officer, director, employee, consultant,
independent contractor, joint venturer, investor, lender, spokesperson,
promoter, endorser or any role participate in any Restricted Business (as
defined below) anywhere in the United States unless such Person shall have
obtained the prior written consent of the Company; provided, that it
shall not be a violation of this Section 20(b) for
such Person to (i) own, in the aggregate, an interest of less than 5% of the
shares or other equity interests of any company traded on a national securities
exchange or over the counter market; and/or (ii) comply with and/or exercise
such Person’s rights, obligations and responsibilities under that certain (A)
Operating Agreement of InStride Ventures, LLC, by and among GFV, In Stride, LLC,
a Delaware limited liability company, Olen Rice, and Paul Koester (the “InStride Operating
Agreement”), (B) License Agreement, dated April 20, 2007, between GFV and
InStride Venture, LLC (the “InStride License
Agreement” and together with the InStride Operating Agreement, the “InStride Documents”),
(C) Operating Agreement of Vita Ventures, LLC, by and between G-Nutritional,
LLC, a Delaware limited liability company (“G-Nutritional”), and
Vitaquest International LLC, a Delaware limited liability company (the “Vita Ventures Operating
Agreement”), (D) Trademark License and Services Agreement, dated
September 7, 2006, between Vita Ventures, LLC, a Delaware limited liability
company, and G-Nutritional (the “Vita Ventures Trademark
License Agreement” and together with the Vita Ventures Operating
Agreement, the “Vita
Documents”), (E) Promotion License Agreement, dated September 6, 2006,
between KnowFat Franchise Company, Inc., a Delaware corporation (“KnowFat”), and GFV
(the “KnowFat
Promotion License Agreement”), (F) Services Agreement, dated September 6,
2006, between KnowFat and GFV (the “KnowFat Service
Agreement” and together with the KnowFat Promotion License Agreement, the
“KnowFat
Documents”), and (G) Agreement by and among George Foreman Productions,
Inc. and Foreman, on the one hand, and GFV and George Foreman Enterprises, Inc.,
on the other hand, dated April ___, 2010, which includes the limited license
from Foreman to GFV with respect to the InStride Documents, the Vita Documents,
and the KnowFat Documents (the “Foreman-GFV
Agreement”, and together with the InStride Documents, the Vita Documents,
and the KnowFat Documents, the “Foreman Related
Documents”).  The Company hereby acknowledges that GFV has
delivered copies of the Foreman Related Documents to the Company.

     

    (c)           Each
of Foreman, GFV and their respective Affiliates, as applicable, further
acknowledges and agrees that (i) the InStride Documents does not require Foreman
to participate in any commercials, infomercials, or advertising or promotions
distributed through radio, television or the internet, or any other forms of
media or advertisements that require Foreman to speak, and Foreman shall not
participate in any such forms of commercials, infomercials, advertising,
promotions or media with respect to InStride Documents, (ii) such Persons shall
not amend, modify, or restate the InStride Documents in any manner that would
result in a default by such Person under the terms of this Agreement (iii) such
Persons shall comply with the terms and conditions set forth in Section 21 herein
prior to the assignment of the InStride License Agreement, as the case may be,
to any third party, (iv) such Persons and the other Foreman or GFV related
Persons party to the Foreman Related Documents shall not manufacture, sell,
promote, market and/or advertise any other products and/or services under the
Foreman Related Documents except as specifically set forth in such respective
Foreman Related Documents; (v) such Persons shall not expand the scope or
categories of the products and/or services to be manufactured, sold, promoted,
marketed and/or advertised in any of the respective Foreman Related Documents,
and (vi) such Persons shall not manufacture, sell, promote, market and/or
advertise any diabetic strips, lancets, meters, control solutions, insulin
delivery devices or systems or insulin syringes under the Foreman Related
Documents.

     
***  Confidential Information Redacted

    
      
         

      

      
        - 14
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    (d)           The
Company hereby acknowledges and agrees that the rights and obligations set forth
under this Agreement shall not prohibit any of Foreman, GFV or any of their
respective Affiliates, as applicable, from exercising their rights or complying
with their respective obligations under any of the Foreman Related Documents;
provided, however, that in the
event exercising such rights or complying with any such obligations causes a
breach of this Agreement, including, but not limited to Section 20(c), or a
non-appealable order is issued by an Authority of competent jurisdiction that
permits or authorizes such Person to manufacture, advertise, promote, market
and/or sell any diabetic strips, lancets, meters, control solutions, insulin
delivery devices or systems or insulin syringes in exercising its rights or
complying with its obligations under the applicable Foreman Related Documents,
the Company (after defending its rights with respect to such Authority) shall
have the right, but not the obligation, to terminate this Agreement pursuant to
Section 7(c) or
Section
7(f).

     

    (e)           For
purposes of this Agreement, a “Restricted Business”
shall mean any company or entity that is engaged in the business of
manufacturing, offering, soliciting or making sales of any of the Core Diabetic
Supplies; provided, that the
manufacture or sale of food products and/or cookbooks shall not be considered a
Restricted Business, so long as products or cookbooks are not directly targeted
to any individual with diabetes or restricted by low-sugar diets.

     

    (f)        
   During the Restricted Period, each of Foreman, GFV and their
respective Affiliates agrees not to, directly or indirectly, whether for his own
account or for the account of any other individual or entity, solicit, induce,
enter into any agreement with, or attempt to influence any individual who was an
employee of or consultant to the Company at any time during the preceding [***]
period, to terminate his or her employment relationship with the Company or to
become employed by such Person or any individual or entity by which such Person
is employed or a consultant, or interfere in any other way with the employment
or other relationship of any employee of or consultant to the Company; provided, however, that this
Section 20(f)
shall not apply to a consultant to the extent that such consultant remains
reasonably accessible to the Company; and provided, further, however, that the
general solicitation of employment by such Person conducted, directly or
indirectly, in newspapers, trade journals, the Internet, through recruiters or
by any similar media and any subsequent employment discussions or employment
shall not be deemed to be an attempt to employ any employee or former employee
of the Company.

     

    ***  Confidential Information Redacted

    
      
        
        

      

      
        - 15
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    21.           Right of First
Refusal.  At least [***] prior to Foreman, GFV or any of their
respective Affiliates, as applicable, makes an assignment of all of any portion
of any the InStride License Agreement, as the case may be, to any third party
(except as set forth in the last sentence of this Section 21), such
Person (the “Assigning
Party”) shall deliver a written notice (the “Offer Notice”) to the
Company, which Offer Notice shall be deemed to be an offer of the subject
InStride License Agreement, as the case may be, to the Company on the same terms
and conditions as proposed by such third party.  The Company shall
have right, but not the obligation, to assume the assignment of the InStride
License Agreement as specified in the Offer Notice at the price and on the terms
specified in the Offer Notice by delivering written notice of such election to
Foreman, GFV or any of their respective Affiliates, as applicable, within [***]
after the delivery of the Offer Notice (the “Election
Notice”).  If the Company elects to assume the assignment of
the InStride License Agreement, as the case may be, from Foreman, GFV or any of
their respective Affiliates, as applicable, the closing of such transaction
shall be consummated as soon as practical after the delivery of the Election
Notice.  To the extent that the Company does not elect to assume the
assignment of the InStride License Agreement, as the case may be, from Foreman,
GFV or any of their respective Affiliates, as applicable, such Person, may,
within [***] thereafter, assign the InStride License Agreement, as the case may
be, to one or more third parties at the price and on the terms and conditions
set forth in the Offer Notice.  Notwithstanding the foregoing and for
the avoidance of any doubt, each of the Parties acknowledges and agrees that the
Right of First Refusal provided to the Company in this Section 21 shall not
apply to any assignment of the InStride License Agreement to any Affiliate of
Foreman, the GFV, and/or InStride Ventures, LLC; provided, that such assignee is
not a competitor of the Company.

     

    22.           Relationship of the
Parties.  The parties to this Agreement are independent
contractors, and this Agreement shall not be construed to create a partnership,
joint venture, employment or principal agent relationship between the
parties.  Each party shall be solely responsible to compensate any
employees, agents or representatives employed or engaged by it to perform duties
under this Agreement and for all taxes, imposts, duties and all charges of any
governmental authority arising from its or his activities under this
Agreement.  Neither the Company nor Foreman, nor GFV, nor any person
or entity employed by any of them, are authorized to make any representation or
warranty concerning the other parties or incur or assume any obligation or
liability for the other parties.

     

    23.           Amendment;
Waiver.  No amendment to this Agreement shall be valid unless
such amendment is in writing and is signed by the party against whom enforcement
is sought.  Any of the terms and conditions of this Agreement may be
waived at any time in writing by the party entitled to the benefit thereof, but
a waiver in one instance shall not be deemed to constitute a waiver in any other
instance.  A failure to enforce any provision of this Agreement shall
not operate as a waiver of the provision or of any other provision
hereof.

     

    24.           Behavior.  Each
of Foreman, GFV and their respective Affiliates agrees that at no time during
the Restricted Period shall such Person publicly disparage the Company, the
Company’s products or the Services.  If any of Foreman, GFV or their
respective Affiliates does publicly disparage the Company, the Company’s
products or the Services, or if any of Foreman, GFV or their respective
Affiliates should be convicted with a felony, the Company shall have the right
to terminate this Agreement without waiver of any or all other legal remedies in
which case Company shall immediately cease use of all materials utilizing
Foreman’s name, voice, likeness or endorsement.  The Company’s
election to terminate this Agreement pursuant to this Section 24 shall not
be later than [***] after the Company became aware of the facts giving rise to
such right under this Section
24.

     
***  Confidential Information Redacted

    
      
         

      

      
        - 16
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    25.           Severability.  In
the event that any provision of this Agreement shall be held to be invalid,
illegal or unenforceable in any circumstances, the remaining provisions shall
nevertheless remain in full force and effect and shall be construed as if the
unenforceable portion or portions were deleted.

     

    26.           Governing
Law.  This Agreement shall be governed by and construed and
enforced in accordance with the laws of the State of New York without regard to
its conflict of law principles.

     

    27.           Notices.  All
notices or other communications hereunder shall be in writing and shall be
deemed to be given or made when delivered by overnight courier or first-class,
postage prepaid, registered or certified mail to the following address or
addresses or such other address or addresses as either party may designate in
writing to the other in accordance with this Section
27:

     

    
      	 	
                If
      to the Company:

            	
              United
      States Pharmaceutical Group, L.L.C.

            

    

    13630 NW
8th Street

    Suite
210

    Sunrise,
Florida 33325

    Attention:  Chief
Executive Officer

    Facsimile:  (954)
903-5005

     

    
      	
               
      

            	
                With
      a copy to:

            	
              NationsHealth,
      Inc.

            

    

    13630 NW
8th Street

    Suite
210

    Sunrise,
Florida 33325

    Attention:  Legal
Department

    Facsimile:  (954)
903-5940

     

    and

     

    McDermott
Will & Emery

    201 South
Biscayne Boulevard

    Suite
2200

    Miami, FL
33131-4336

    Attention:  Ira
J. Coleman, Esq. and Fred Levenson, Esq.

    

    
      	 	
                If
      to Foreman:

            	
              Morgan,
      Lewis & Bockius LLP

            

    

    77 West Wacker Drive

    Chicago,
IL  60601-5094

    Attention:  Neal
Aizenstein

     

    
      	 	
               
      If to GFV: 

            	
              George
      Foreman Enterprises, Inc.

            

    

    100 North Wilkes-Barre
Blvd.

    4th  Floor

    Wilkes Barre, PA
18702

    Attention:  Richard L.
Huffsmith

     
***  Confidential Information Redacted

    
      
         

      

      
        - 17
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                With
      a Copy to: 

            	
              George
      Foreman Enterprises, Inc.

            

    

    100 North Wilkes-Barre
Blvd.

    4th  Floor

    Wilkes Barre, PA
18702

    Attention:  Jeremy
Anderson

     

    28.           Assignment.  Neither
Foreman, GFV nor the Company shall have the right to grant sublicenses hereunder
or to otherwise assign, alienate, transfer, encumber, or hypothecate (all of the
foregoing hereinafter “transfer”) any of their rights or obligations hereunder
without the prior written consent of the other parties hereto.  The
Company may, without the approval of Foreman or GFV, transfer its rights and/or
obligations hereunder in connection with a consolidation, merger or sale of all
or substantially all of the Company’s assets with any other entity.

     

    29.           Compliance with
Laws.  The Company agrees that it shall comply with applicable
laws in connection with the development and publication of Commercials and other
Advertising.  Foreman’s approval of the use or manner of use of
Commercials or any Advertising shall not constitute an opinion as to the legal
appropriateness or adequacy of such use or manner of use, and it shall be the
Company’s sole responsibility to comply with all applicable laws and
regulations; provided, that all of
the Foreman Indicia shall comply with all applicable laws and
regulations.

     

    30.           Headings.  Paragraph
headings are for convenience only and shall not be used in any manner to
construe this agreement.

     

    31.           Entire
Agreement.  This Agreement constitutes the entire agreement of
the parties with respect to the subject matter hereof and supersedes all prior
and/or contemporaneous agreements and understandings, written or oral between
the parties with respect to the subject matter hereof.

     

    32.           Execution in
Counterparts.  This Agreement may be executed by the parties in
counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which when taken together shall constitute one and the
same agreement.

     
***  Confidential Information Redacted

    
      
         

      

      
        - 18
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    IN
WITNESS WHEREOF, each of the parties has executed this Agreement as of the date
first written above.

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      	 	
                                              UNITED
      STATES PHARMACEUTICAL

                                              GROUP,
      L.L.C. (d/b/a NATIONSHEALTH)

                                            
	 	 
      	 
      
	 	
                                              By:

                                            	 
      
	 	
                                              Name:

                                            	 
      
	 	
                                              Title:

                                            	 
      
	 	 
      	 
      
	 	
                                              GEORGE
      FOREMAN

                                            
	 	 
      	 
      
	 	
                                              /s/ George Foreman

                                            
	 	 
      	 
      
	 	
                                              GEORGE
      FOREMAN VENTURES LLC

                                            
	 	 
      	 
      
	 	
                                              By:

                                            	
                                              /s/ Seymour Holtzman

                                            
	 	
                                              Name:

                                            	
                                              Seymour Holtzman

                                            
	 	
                                              Title:

                                            	 
      
	 	 
      	 
      
	 	
                                              Agreed and Acknowledged:

                                            
	 	 
	 	
                                              GEORGE
      FOREMAN ENTERPRISES, INC.

                                            
	 	 
      	 
      
	 	
                                              By:

                                            	
                                              /s/
      Seymour Holtzman

                                            
	 	
                                              Name:

                                            	
                                              Seymour
      Holtzman

                                            
	 	
                                              Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}]]