Document:

Amended and restated SERP

 Exhibit 10.4 
 UNITIL CORPORATION 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
 AS ADOPTED BY UNITIL SERVICE CORP. 
 (as amended and restated effective December 31, 2007) 

 Table of Contents 
  

					
	 Article
	  	Page
	1	  	Purpose and Intent	  	1
			
	2	  	Definitions	  	2
			
	3	  	Administration	  	7
			
	4	  	Participation	  	8
			
	5	  	Eligibility for Benefits Amount and Form of Retirement Benefits	  	9
			
	6	  	Amount and Form of Retirement Benefits	  	10
			
	7	  	Payment of Retirement Benefits	  	12
			
	8	  	Death Benefit	  	13
			
	9	  	Change in Control	  	14
			
	10	  	Forfeiture of Benefits	  	15
			
	11	  	Nature of Claim for Payments	  	16
			
	12	  	Code Section 409A	  	17
			
	13	  	No Assignment or Alienation	  	18
			
	14	  	No Contract of Employment	  	19
			
	15	  	Amendment	  	20
			
	16	  	Governing Law	  	21
			
	17	  	Successors	  	22

  

 (i) 

 Article 1 
 PURPOSE AND INTENT 
 The principal objective of the Unitil
Corporation Supplemental Executive Retirement Plan As Adopted By Unitil Service Corp. (the “Plan”) is to ensure the payment of a competitive level of retirement income in order to attract, retain and motivate selected executives. The Plan
was designed to provide supplements to designated employees which, when combined with other employment related and government sponsored retirement benefits, will provide for the aggregate level of retirement benefits specified herein. The Plan is
intended to be “a plan which is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees” within the meaning of sections 201(2),
301(a)(3) and 401(a)(1) of ERISA, and shall be interpreted and administered in a manner consistent therewith. 
 The Plan was originally
established and adopted effective January 1, 1987, and was amended and restated effective January 1, 1998. The Plan is hereby amended and restated in its entirety, effective December 31, 2007. 
  

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 Article 2 
 DEFINITIONS 
 Whenever used herein, unless the context clearly indicates otherwise, the
following words and phrases shall have the meanings herein specified, and the following definitions shall be equally applicable to both the singular and plural forms of any of the terms herein defined. The masculine pronoun whenever used herein
shall include the feminine and neuter genders and the singular number as used herein shall include the plural, and the plural the singular, unless the context clearly indicates a different meaning. 
 2.1 “Basic Plan” shall mean the Unitil Corporation Retirement Plan as adopted by the Employer. 
 2.2 “Basic Plan Benefit” shall mean the annual amount of benefit payable from the Basic Plan to a Participant in the form of a straight life annuity. 
 2.3 “Beneficiary” shall mean the individual designated by the Participant to receive payments upon the death of a Participant in accordance with Article 8.

 2.4 “Board of Directors” shall mean the Board of Directors of Unitil Corporation or any successor thereof. 
 2.5 “Change in Control” shall mean the occurrence of any of the following: 
  

	 	(a)	Unitil Corporation receives a report on Schedule 13D filed with the Securities and Exchange Commission pursuant to Section 13(d) of the Securities Exchange Act of 1934, as
amended (hereinafter referred to as the “Exchange Act”), disclosing that any person, group, corporation or other entity is the beneficial owner, directly or indirectly, of twenty-five (25%) percent or more of the outstanding common
stock of Unitil Corporation; 

  

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	 	(b)	any person (as such term is defined in Section 13(d) of the Exchange Act), group, corporation or other entity other than Unitil Corporation or a wholly-owned subsidiary of
Unitil Corporation, purchases shares pursuant to a tender offer or exchange offer to acquire any common stock of Unitil Corporation (or securities convertible into common stock) for cash, securities or any other consideration, provided that after
consummation of the offer, the person, group, corporation or other entity in question is the beneficial owner (as such term is defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of twenty-five (25%) percent or more of the
outstanding common stock of Unitil Corporation (calculated as provided in paragraph (d) of Rule 13d-3 under the Exchange Act in the case of rights to acquire common stock); 

  

	 	(c)	the stockholders of Unitil Corporation approve (i) any consolidation or merger of Unitil Corporation in which Unitil Corporation is not the continuing or surviving corporation
or pursuant to which shares of common stock of Unitil Corporation would be converted into cash, securities or other property (except where Unitil Corporation shareholders before such transaction will be the owners of more than seventy-five
(75%) percent of all classes of voting stock of the surviving entity), or (ii) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all the assets of Unitil
Corporation; or 

  

	 	(d)	there shall have been a change in a majority of the members of the Board of Directors within a twenty-five (25) month period unless the election or nomination for election by
the Unitil Corporation stockholders of each new director was approved by the vote of two-thirds of the directors then still in office who were in office at the beginning of the twenty-five (25) month period. 

  

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 Should the Change in Control be stockholder approval under paragraph 2.5(c) and if the Board of Directors determines the
approved transaction will not be completed and is abandoned prior to any termination of the Participant’s employment, a Change in Control shall no longer be in effect and the provisions of this Plan shall continue in the effect as if a Change
in Control had not occurred. 
 2.6 “Change in Control Participant” shall have the meaning given to that term in Section 9.1. 
 2.7 “Early Retirement Date” shall mean the first day of the month in which the Participant has both attained age 55 and completed 15 years of Service
(excluding Service completed prior to age 18). 
 2.8 “Earnings” shall mean, for any calendar year, the Participant’s annual salary and any
annual cash incentive paid to the Participant in such year (including any amounts that would have been paid but that were deferred by the Participant). 
 2.9 “Employer” shall mean Unitil Service Corp. and any affiliated employer and any successor company which may continue the Plan. 
 2.10
“Final Average Earnings” shall mean the highest annual average of any consecutive three years’ Earnings of a Participant during such Participant’s tenure as an employee with the Employer. 
 2.11 “Normal Retirement Date” shall mean the first day of the month in which occurs the
Participant’s 65th birthday. 
 2.12 “Other
Retirement Income” shall mean the retirement income payable to a Participant from the following sources as of the date the Participant’s benefits commence under this Plan: 
  

	 	(a)	the straight life annuity equivalent of the value of the total contributions, but not including a Participant’s salary deferral contributions, made by the Employer under the
Unitil Corporation Tax Deferred Savings and Investment Plan on behalf of the Participant during such Participant’s employment at the Employer; and 

  

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	 	(b)	retirement income in the form of a straight life annuity payable to a Participant from any previous employers. 

 In determining the straight life annuity equivalent under Section 2.12, the following actuarial assumptions shall be used: the interest rate or rates and table used
by the Pension Benefit Guaranty Corporation to value immediate annuities (as of the beginning of the calendar year in which the determination is being made) under Section 4062 of the Employee Retirement Income Security Act of 1974. 

2.13 “Participant” shall mean an employee of the Employer who is designated by the Board of Directors to participate in the Plan. 
 2.14 “Plan” shall mean the Unitil Corporation Supplemental Executive Retirement Plan As Adopted By Unitil Service Corp. and as set forth in this document and
as may be amended from time to time. 
 2.15 “Primary Social Security Benefit” shall mean the annual primary insurance amount to which the
Participant is entitled or would, upon application therefor, be entitled at the later of age 65 or actual retirement under the provisions of the Federal Social Security Act as in effect on the Participant’s termination date assuming that the
Participant will have no income after termination which would be treated as wages for purposes of the Social Security Act. 
 2.16 “Retirement
Date” shall mean the first to occur of the Participant’s Normal Retirement Date or Early Retirement Date. 
  

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 2.17 “Service” shall mean a Participant’s years of Credited Service as defined in the Basic Plan for
benefit calculation purposes, provided that, except as provided in Section 7.2, no Service shall be credited to a Participant subsequent to his termination of Participation pursuant to Section 4.2. 
  

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 Article 3 
 ADMINISTRATION 
 The Plan shall be administered by the Board of Directors. The Board of
Directors shall have the authority to interpret the provisions of the Plan and decide all questions and settle all disputes which may arise in connection with the Plan, all in the sole exercise of its discretion. The Board of Directors may establish
operative and administrative rules and procedures in connection therewith, provided that such procedures are consistent with the requirements of section 503 of ERISA. All interpretations, decisions and determinations made by the Board of Directors
shall be final, conclusive and binding on all persons concerned. No member of the Board of Directors who is a Participant may vote or otherwise participate in any decision or act with respect to a matter relating to himself or his beneficiaries.

  

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 Article 4 
 PARTICIPATION 
 4.1 Participation. The Participants in the Plan shall be those “management”
or “highly compensated” employees within the meaning of sections 201(2), 301(a)(3) and 401(a)(1) of ERISA who shall be employees of the Employer and who shall be selected from time to time by the Board of Directors. Unless selected by the
Board of Directors in the sole exercise of its discretion, no employee of the Employer shall have a right to become a Participant in the Plan. 
 4.2
Termination of Participation. A Participant’s participation in the Plan shall end upon his termination of service with the Employer for any reason or his ceasing to be a management or highly compensated employee within the meaning of
Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. In addition, the Board of Directors may terminate an employee’s participation in the Plan. 
  

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 Article 5 
 ELIGIBILITY FOR BENEFITS 
 5.1 Eligibility for Retirement Benefits. A
Participant shall be eligible to receive a benefit under the Plan if (a) the Participant’s employment terminates on or after his Retirement Date or (ii) a Change in Control has occurred. Benefits shall be determined in accordance with
Article 6 or Article 9, as the case may be, and shall commence in accordance with Article 7. 
 5.2 Eligibility for Pre-Retirement Death Benefits. The
Beneficiary of each Participant who dies before commencement of benefits pursuant to Section 7.1 or Section 7.2, as the case may be, but after either (a) a Change in Control or (b) completing at least five years of Service shall
be eligible to receive the benefit described in Article 8. 
 5.3 Termination Prior to Retirement. Except as otherwise provided in Section 5.2
and Article 9, no benefits are payable under the Plan if a Participant’s employment terminates for any reason, including death, prior to the Participant’s Retirement Date. 
  

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 Article 6 
 AMOUNT AND FORM OF RETIREMENT BENEFITS 
 6.1 Amount of Benefit. The annual retirement benefit payable to a Participant under the Plan whose termination of employment occurs on or after his Normal Retirement Date shall equal 60% of such Participant’s Final Average
Earnings reduced, but not below zero, by the sum of (a), (b) and (c) where 
  

	 	(a)	equals the Basic Plan Benefit; 

  

	 	(b)	equals the Other Retirement Income; and 

  

	 	(c)	equals the Primary Social Security Benefit. 

 6.2 Early Retirement
Benefit. The annual retirement benefit payable to a Participant under the Plan whose termination of employment occurs on or after his Early Retirement Date shall be determined in accordance with the provisions of Section 6.1 but shall be
reduced by 5/12 of 1% for each full calendar month that the Participant’s termination of employment precedes the month in which occurs the Participant’s 60th birthday. 
 6.3 Form of Benefit. The retirement benefits determined under this Article 6 shall be payable as a monthly annuity for the life of a Participant unless the Participant has elected to receive reduced benefits in
an optional form of payment. 
 The optional forms of payment available for election by a Participant under the Plan shall be the same as those provided
under the Basic Plan, provided that any such election shall be made prior to the Participant’s termination of employment. However, the Participant may not elect a form of payment under the Plan different from the form of payment made to him
under the Basic Plan. If an optional form of payment is elected, the benefits payable shall be the actuarial equivalent of the 

  

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Participant’s retirement benefits under the Plan. In determining actuarial equivalence, the actuarial reduction factors set forth in the Basic Plan used
to convert a straight life annuity to an optional form of payment shall be used under the Plan. 
  

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 Article 7 
 PAYMENT OF RETIREMENT BENEFITS 
 7.1 Termination on or after
Retirement Date. Except as otherwise provided in Section 7.2 and Articles 8 and 12, all benefits payable under the Plan shall commence on the date of the Participant’s termination of employment. Benefits will continue to be paid
on the first day of each succeeding month. The last payment will be on the first day of the month in which the retired Participant dies unless the Participant has elected an optional form of payment in accordance with Section 6.3. 

7.2 Termination before Retirement Date after a Change in Control. Except as otherwise provided in Articles 8 and 12, benefits payable to a Change in Control
Participant pursuant to Article 9 shall commence on the earlier to occur of the following: (i) the date the Change in Control Participant could have received benefits under Section 6.1 or (ii) the date the Change in Control
Participant could have received benefits under Section 6.2, as the case may be, determined by assuming the Change in Control Participant had remained employed and continued to accrue additional years of Service after the date of employment
termination. Benefits will continue to be paid on the first day of each succeeding month. The last payment will be on the first day of the month in which the retired Change in Control Participant dies unless the Change in Control Participant has
elected an optional form of payment in accordance with Section 6.3. For avoidance of doubt, if a Participant’s employment terminates on or after the Participant’s Retirement Date, the Participant’s benefits shall be determined
pursuant to Article 6 and shall be paid pursuant to Section 7.1, whether or not a Change in Control has occurred. 
  

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 Article 8 
 DEATH BENEFIT 
 8.1 Amount. A Beneficiary described in Section 5.2 shall receive
an annuity for life determined in accordance with the surviving spouse benefit provision of the Basic Plan (other than the requirement that such benefit may only be paid to the surviving spouse) and the relevant provisions of Article 6 or, after a
Change in Control, Article 9. 
 8.2 Commencement. The benefit described in Section 8.1 shall commence as of the first day of the month following
the later of (1) the date the Participant dies or (2) the Participant’s Retirement Date. 
  

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 Article 9 
 CHANGE IN CONTROL 
 9.1 Eligibility for Change in Control
Benefits. Notwithstanding anything contained herein to the contrary, if a Change in Control occurs, Participants in the Plan as of the date of the Change in Control shall be entitled to receive benefits determined in accordance with this Article
9 if the Participant’s employment terminates prior to the Participant’s Retirement Date (a “Change in Control Participant”). 
 9.2
Amount of Change in Control Benefit. A Change in Control Participant’s benefit payable pursuant to this Article 9 shall be determined in accordance with the provisions of (a) Section 6.1 if, pursuant to Section 7.2, the
Change in Control Participant’s benefits commence on the first date the Participant could have received benefits under Section 6.1 or (b) Section 6.2, if, pursuant to Section 7.2, the Change in Control Participant’s
benefits commence on the first date the Participant could have received benefits under Section 6.2. 
 9.3 Payment of Change in Control Benefit.
A Change in Control Participant’s benefits shall be paid in accordance with Section 7.2. 
  

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 Article 10 
 FORFEITURE OF BENEFITS 
 Notwithstanding anything herein to the
contrary, if a Participant or Beneficiary who is receiving, or may be entitled to receive, a benefit hereunder engages in competition with the Employer or any affiliated employer (without prior authorization of the Board of Directors) or is
discharged for cause, or performs acts of willful malevolence or gross negligence in a matter of material importance to the Employer or any affiliated employer, payments thereafter payable hereunder to such Participant or Beneficiary shall, at the
discretion of the Board of Directors, be forfeited and the Employer shall have no further obligation hereunder to such Participant or Beneficiary. 
  

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 Article 11 
 NATURE OF CLAIM FOR PAYMENTS 
 Benefits under the Plan shall be paid from the general assets of the Employer (which term, solely for the purposes of this Article 11, shall mean the Employer or any affiliated employer). The Plan shall be administered as an unfunded plan
which is not intended to meet the qualification requirements of section 401 of the Internal Revenue Code of 1986, as amended (the “Code”). Neither a Participant nor his Beneficiary shall be entitled to receive any payment for benefits
under the Plan from the qualified trust maintained for the Basic Plan. Should the Board of Directors elect to insure the Plan, in whole or in part, through the medium of life insurance or annuities, or both, the Employer shall be the owner and
beneficiary of any insurance or annuity contracts. The Employer reserves the absolute right, in its sole discretion, to terminate such life insurance or annuities, as well as any other program, at any time, either in whole or in part. At no time
shall the Participant be deemed to have any right, title, or interest in or in any specified asset or assets of the Employer, including, but not by way of restriction, any insurance or contract or contracts or the proceeds therefrom. Any such policy
shall not in any way be considered to be security for the performance of the obligations of the Employer under the Plan. If the Employer decides to purchase a life insurance or annuity policy on the life of the Participant, he shall sign any papers
that may be required for that purpose and undergo any medical examination or tests which may be necessary. 
  

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 Article 12 
 CODE SECTION 409A 
 The provisions of the Plan and all payments made
pursuant to the Plan are intended to comply with, and should be interpreted so that they are consistent with, the requirements of Section 409A of the Code, and any related regulations or other applicable guidance promulgated thereunder
(collectively, “Section 409A”). If the Participant is a “specified employee,” as determined under the Employer’s policy for determining specified employees, on the date on which the Participant’s termination of
employment occurs, the Participant’s benefits shall not be paid or commence until the first business day after the date that is six months following the Participant’s termination of employment or, if the Participant dies during such six
month period, on the first business day after the date of the Participant’s death. The first payment that can be made shall include the cumulative amount of any amounts that could not be paid during such six-month period. In addition, interest
will accrue at the Federal short-term rate determined under Section 1274(d) of the Code (as in effect on the date of the separation from service or, if such date is not a business day, the first business day prior to such date) on all payments
not paid to the Participant prior to the first business day after the sixth month anniversary of termination of employment that otherwise would have been paid during such six-month period had this delay provision not applied to the Participant and
shall be paid with the first payment after such six-month period. For all purposes under the Plan, references to termination of employment or words of similar import shall be interpreted to mean “separation from service,” as that term is
used in Section 409A, and the Participant’s employment shall in no event be deemed to have terminated unless and until a separation from service shall have occurred for purposes of Section 409A. 
  

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 Article 13 
 NO ASSIGNMENT OR ALIENATION 
 The interest
hereunder of any Participant or Beneficiary shall not be alienable by the Participant or Beneficiary by assignment or any other method and shall not be subject to be taken by his creditors by any process whatsoever, and any attempt to cause such
interest to be so subjected shall not be recognized, except to such extent required by law. 
  

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 Article 14 
 NO CONTRACT OF EMPLOYMENT 
 The Plan shall not
be deemed to constitute a contract of employment between the Employer and any Participant, or to be consideration for the employment of any Participant. Neither the action of establishing the Plan for the Employer nor any action taken by or on
behalf of the Employer or by the Board of Directors under the provisions hereof, nor any provision of the Plan, shall be construed as giving to any Participant the right to be retained in its employ or any right to any payment whatsoever except to
the extent of the benefits provided for by the Plan. The Employer expressly reserves its right at any time to dismiss any Participant without liability for any claim against the Employer or for any claim for any payment whatsoever, except to the
extent provided for in the Plan. 
  

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 Article 15 
 AMENDMENT 
 The Plan may be altered, amended or revoked in writing by the Board of Directors
at any time; provided, however, that no such alteration, amendment or revocation that adversely affects a Participant’s or Beneficiary’s vested benefits under the Plan shall be made without the prior written consent of the Participant or
Beneficiary so affected. 
  

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 Article 16 
 GOVERNING LAW 
 The Plan shall be governed and construed in accordance with
the laws of the State of New Hampshire except to the extent preempted by federal law. 
  

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 Article 17 
 SUCCESSORS 
 The provisions of the Plan shall bind and inure to the benefit of the Employer
and its successors and assigns. The term successors as used herein shall include any corporate or other business entity which shall, whether by merger, consolidation, purchase or otherwise acquire all or substantially all of the business and assets
of the Employer, and successors of any such corporation or other business entity. 
  

 - 22 -Amended and Restated Employment Agreement

 Exhibit 10.1 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 This Amended and Restated Employment Agreement
(“Agreement”) is executed on June 16, 2008, to be effective in part on August 23, 2007, by and between Mannatech, Incorporated (“Employer”), a Texas corporation whose principal place of
business is 600 S. Royal Lane, Suite 200, Coppell, Texas and Terry L. Persinger (“Employee”), who resides at 1600 Promontory Road, Cedar Hill, Texas 75104. 
 RECITALS: 
 A. Employer and Employee are parties to that certain Employment
Agreement, effective as of November 1, 1999, by and between Employer and Employee (as amended by that certain First Amendment to Employment Agreement, effective January 1, 2002, Second Amendment to Employment Agreement, effective
June 7, 2004, Third Amendment to Employment Agreement, effective January 5, 2006, and Fourth Amendment to Employment Agreement, effective November 20, 2006, the “Existing Employment Agreement”). 
 B. Employer and Employee desire to amend and restate the Existing Employment Agreement in its entirety with this Agreement. 
 C. Employer desires to employ Employee, and Employee desires to accept such employment, upon the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and upon the terms, conditions and provisions hereinafter set
forth, Employer and Employee do hereby agree as follows: 
 ARTICLE I 
 DUTIES AND COMPENSATION 
 1. Employee is hired to serve as President and Chief
Executive Officer of Employer commencing on the date hereof and continuing until June 16, 2008 (the “CEO Term”). Beginning on June 16, 2008, Employer will employ Employee as an employee for a three-year term
terminating on June 16, 2011 (the “Subsequent Term”). 
 2. Base Salary and Duties. 
  

	 	a.	Employee is engaged to serve as President and Chief Executive Officer during the CEO Term. As President and Chief Executive Officer Employee shall report directly to Employer’s
Board of Directors and shall perform such services, duties and responsibilities commensurate with his position as may from time to time be assigned to him by the Board of Directors. 

  

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	 	b.	Employee is engaged to serve as an employee during the Subsequent Term. During the Subsequent Term, Employee shall report directly to Employer’s Board of Directors and shall
perform such services, duties and responsibilities commensurate with his position as may from time to time be assigned to him by the Board of Directors. During the Subsequent Term, Employee shall not be required to maintain an office at
Employer’s offices and Employer shall provide Employee with supplies, including a laptop computer and a cellular telephone, sufficient to enable Employee to perform his duties as an employee from home. 

  

	 	c.	Employee’s annual base salary commencing on August 23, 2007 and extending until June 30, 2008 shall be $390,000. Commencing on July 1, 2008, Employee’s
annual base salary shall be $48,000. 

 3. Benefits. Employee is eligible and shall participate in accordance with the
usual rules of participation in all company and officer benefits accorded and accruing to other employees of the Employer. These benefits include, but may not be limited to: 
  

	 	a.	Medical insurance, dental insurance, life insurance and long-term and short-term disability insurance, continuing until the expiration of the Subsequent Term.

  

	 	b.	Employer’s stock option plans commencing in the year 2000 on a basis equivalent to all other persons of the Employee’s corporate rank and title. 

 

	 	c.	Employer’s executive bonus plan, pursuant to which Employee is eligible to receive an annual bonus determined by the Board, which bonus may be up to (i) 70% of
Employee’s base salary, on a prorated basis, for Employee’s services during the CEO Term, and 12.5% of Employee’s base salary, on a prorated basis, paid according to the Company’s long-term compensation plan. During the
Subsequent Term there will be no bonus plan. 

  

	 	d.	The Employer’s 401K Plan, commencing after the inception of employment and continuing until the expiration of this Agreement.” 

 4. Automobile. Employer shall, following commencement of the Subsequent Term, transfer (or cause to be transferred) to Employee title to the
automobile operated by Employee under Employer’s executive car program immediately prior to the expiration of the CEO Term. 
 5.
Employee discount on products. Commencing on the date hereof, Employee shall be eligible throughout his lifetime to purchase Employer’s products at the discounted price for which such products are offered to Employer’s employees on
the date of 

  

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Employee’s purchase, up to $300 per month. In addition, until the expiration of the Subsequent Term Employee shall be eligible to participate in
purchase price rebates offered by Employer to employees who purchase certain of its products. The Company makes no commitment to make any specific product available. In the event the Company discontinues its Employee discount program, Employee shall
have the right to purchase Company products at a reasonably equivalent discount for his lifetime. 
 ARTICLE II 
 PERFORMANCE, NON-COMPETITION AND NON-SOLICITATION 
 1. Employee agrees to serve in the position of President and Chief Executive Officer during the CEO Term, and as an employee during the Subsequent Term, and to perform diligently and to the best of Employee’s
abilities the duties and services appertaining to such positions, as well as such additional duties and services appropriate to each respective position upon which the parties mutually may agree from time to time or as may be designated by the Board
of Directors. Employee also agrees that his employment is subject to the current and future policies and procedures maintained and established by Employer. During the CEO Term, Employee shall devote Employee’s full productive time, best
efforts, ability and attention to the business of Employer and the performance of Employee’s duties. During the Subsequent Term, Employee may obtain other employment, serve on the board of directors of other organizations or provide consulting
or advisory services to other businesses or organizations; provided, however, that during the Subsequent Term Employee cannot become employed by, sit on the board of directors of, or provide consultant, advisory or similar
services to, a competitor of Employer; and provided, further that the limitations contained in this sentence shall survive for a period of one (1) year after Employee shall cease to be employed by Employer for any
reason. Employee shall not sit on the Board of Directors of any supplier of the Company until one year after the CEO Term. 
 2. Employee
acknowledges and understands that from time to time Employee’s duties may require Employee to work on-site at a third party location. In such instance, Employee agrees to comply with all of the policies, procedures and directives relevant to
working at such third party location. 
 3. Employee represents and admits that in the termination of Employee’s employment for any
reason whatsoever, Employee’s experiences and capabilities are such that Employee can obtain employment in business engaged in other lines and/or of a different nature, and that the enforcement of a remedy by way of injunction will not prevent
Employee from earning a livelihood. 
 4. Employee acknowledges that Employee will receive special knowledge and specialized training from
Employer, included in which is Confidential Information (as defined in Article III, Paragraph 4, below). Employee further acknowledges that training 

  

 3 

 
provided by Employer and the Confidential Information is valuable to Employer and, therefore, Employer’s investment in the training and the protection
and maintenance of the Confidential Information constitutes a legitimate interest to be protected by Employer by the covenant not to compete set forth in Article II of this Agreement. 
 5. Non-Competition. Employee hereby agrees that during the Subsequent Term and for a period of one (1) year after Employee shall cease to be
employed by Employer for any reason, Employee shall not engage in any form of business which is in competition with Employer, including through the business of any person, company, firm, corporation, partnership, association, agency, or business,
and particularly through a party known to Employee to be an independent contract sales associate and/or customer of Employer or with whom Employee had contact during, or by reason of, Employee’s employment by Employer. 
 6. Non-Solicitation. Employee further agrees that during the Subsequent Term and for a period of one (1) year after Employee shall cease to
be employed by Employer for any reason, Employee will not, either directly or indirectly, through any person, firm, association or corporation with which Employee, customer and/or independent contractor sales associate (“Subject
Person”) is now or may hereafter become associated with, solicit, cause, influence or induce any present or future Subject Person of Employer or its affiliates to leave the employ or business relationship with Employer or its affiliates
to accept employment or a business relationship with Employee or with such person, firm, association, or corporation with whom Employee may then be affiliated. 
 As set forth above, Employee acknowledges that the foregoing non-competition and non-solicitation covenants are ancillary to or a part of an otherwise enforceable agreement, such being the general agreement of
employment and its related agreements concerning confidentiality and non-disclosure of Confidential Information and non-solicitation, at the time that this non- competition covenant is made, that the limitations as to time defined herein are
reasonable and do not impose a greater restraint than is necessary to protect the goodwill or other business interests of Employer, that the limitations as to geographic area defined herein are reasonable and do not impose a greater restraint than
is necessary to protect the goodwill or other business interests of Employer, and that the scope of activity to be restrained defined herein is reasonable and does not impose a greater restraint than is necessary to protect the good will or other
business interests. 
 7. Employee agrees that in the highly competitive business in which Employer is engaged, personal contact is of
primary importance in securing new and retaining present customers and independent associates of Employer (“Associates”). Employee also agrees that Employer has a legitimate interest in maintaining its relationships with its
Associates and customers and that it would be unfair for Employee to solicit the business of Employer’s Associates and customers and exploit the personal relationships Employee develops with Employer’s Associates and customers by virtue of
Employee’s access to Employer’s customers as a result of Employee’s employment by Employer. 
  

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 8. The foregoing covenants not to compete and solicit shall not be held invalid or unenforceable because
of the scope or the territory or actions subject thereto or restricted thereby, or the period of time within which such Agreement is operative; but an award or decree in arbitration or any judgment of a court of competent jurisdiction, as the case
may be, may define the maximum territory and actions subject thereto and restricted by this Article II and the period of time during which the Agreement is enforceable. Any alleged breach of other provisions of this Agreement asserted by Employee
shall not be a defense for Employee to claims arising from Employer’s enforcement of the provisions of this paragraph. Should Employee violate the non-competition or non-solicitation covenants of this Article II, then the period of time for
these covenants shall automatically be extended for the period of time from which Employee began such violation until Employee permanently ceases such violation. 
 9. Irrespective of the term of employment under this Agreement, and in consideration of the promises specified in Article II of this Agreement, Employer agrees as follows: 
 a. To provide specialized training as specified herein; and 
 b. To provide Employee with access to Employer’s software and files, records, marketing procedures, processes, computer programs,
compilations of information, records, Associate and client requirements, pricing techniques, lists, formulae, lists identifying Associates, partners, potential investors, methods of doing business and other Confidential Information which is
regularly used in the operation of the business of Employer. 
 10. Employee represents and warrants that the delivery and execution of this
agreement will not cause a breach in the terms of any existing agreement to which he is a party nor interfere with any undertakings which he is bound to perform or refrain from under any such agreements. 
 11. Article II, Paragraphs 5 and 6 shall survive the execution, performance and/or termination of this Agreement, subject to the time and scope
limitations set forth therein. 
 ARTICLE III 
 Confidential Information 
 1. Employer will provide or has provided Employee with specialized
information concerning its products and business operations. Irrespective of the term of employment, and in consideration of Employee’s promises specified in Article II of this Agreement, Employer agrees to provide specialized training and
instruction to Employee for the job duties assigned to Employee, and agrees to provide specialized training to Employee for such additional job duties as Employer may, in good faith, direct or as the interests, needs and business opportunities of
Employer shall require or make advisable. 
  

 5 

 2. During the course of Employee’s employment and training incident thereto Employee will be or was
given access to Employer’s Confidential Information concerning Employer’s products and business operations. 
 3. Employee
acknowledges that in the further course of Employee’s employment with Employer, Employee will gain a close, personal and special influence with Employer’s customers and will be acquainted with all of Employer’s business, particularly
Employer’s Confidential Information concerning the business of Employer and its affiliates. 
 4. For purposes of this Agreement
“Confidential Information” shall mean and include information disclosed to Employee or known by Employee through Employee’s employment with Employer, not generally known in Employer’s industry, about Employer’s
products, processes and services, including but not limited to information concerning inventions, trade secrets, research and development, as well as all data or information concerning customers (including, Associates), customer lists (including
downline reports and similar reports of business activities and relevant information concerning persons who conduct the same), prospect lists, mailing lists, sales leads, contracts, financial reports, sales, purchasing, price lists, product costs,
marketing programs, marketing plans, business relationships, business methods, accounts payable, accounts receivable, accounting procedures, control procedures and training materials. 
 5. Employee recognizes that Employee’s position with Employer is one of the highest trust and confidence by reason of Employee’s access to the
Confidential Information and Employee agrees to use Employee’s best efforts and will exercise utmost diligence to protect and safeguard the Confidential Information. In this respect, Employee agrees that fulfilling the obligations of the
Agreement is part of Employee’s job responsibilities with Employer for which Employee has been retained as an Employee and for which Employee has received consideration therefor. 
 6. Except as may be required by Employer in connection with and during Employee’s employment with Employer, or with the express written permission
of Employer, Employee shall not, either during the CEO Term or the Subsequent Term or at any time thereafter, directly or indirectly, download, printout, copy, remove from the premises of Employer, use for Employee’s own benefit or for the
benefit of another, or disclose to another, any Confidential Information of Employer, its customers, suppliers, contractors or other with which Employer has a business relationship. 
 7. Employee agrees that all files, memoranda, data, notes, records, drawings, charts, graphs, analyses, letters, reports, or other documents or similar
items made or compiled by Employee, made available to Employee or otherwise coming into Employee’s possession while employed by Employer concerning any process, apparatus or products manufactured, sold, used, developed, investigated or
considered by Employer concerning the Confidential Information or concerning any other business or activity of Employer shall remain at all times the property of Employer and shall be delivered to Employer upon termination of Employee’s
employment with Employer or at any other time upon request. 
  

 6 

 8. Employee agrees that, during the term of Employee’s employment with Employer or upon termination
thereof, and if requested by Employer to do so, Employee will sign an appropriate list of any and all Confidential Information of Employer of which Employee has knowledge or about which Employee has acquired information. 
 9. This Article III shall survive the execution, performance and/or termination of this Agreement. 
 ARTICLE IV 
 ASSIGNMENT OF
INVENTIONS 
 1. Employee agrees to promptly disclose to Employer and Employee hereby assigns to Employer or its designee, its assigns,
successors or legal representatives, all, right, title and interest in and to any and all patents, formulae, inventions, processes, designs, software, firmware, circuitry, diagrams, copyrights, trade secrets, and any other proprietary information
(collectively, the “Proprietary Information”) whatsoever, conceived, developed or completed by Employee during the course of Employee’s employment with Employer, or using Employer’s time, data, facilities and/or
materials, provided the subject matter of the Proprietary Information is within the scope of the duties and responsibilities of one in Employee’s position with Employer or occurs as a result of Employee’s knowledge of a particular interest
of Employer. 
 2. Employee agrees to assist Employer at any time during Employee’s employment with Employer, or after termination of
Employee’s employment by Employer with reimbursement by Employer for all expenses incurred, in the preparation, execution, and delivery of any assignments, disclosures, patent applications, or papers within the scope and intent of this
Agreement required to obtain patents or copyrights in the Proprietary Information in this or a foreign country and in connection with such other proceedings as may be necessary to vest title to the Proprietary Information in Employer, its assigns,
successors, or legal representatives. 
 ARTICLE V 
 MISCELLANEOUS 
 1. Termination. Nothing contained in this Agreement shall be construed as
impairing the right of Employer to terminate Employee’s employment with Employer hereunder, including by reason of death or disability of Employee, provided that Employer shall be liable to pay Employee as follows: 
 a. By continuing to pay his base salary, as set forth in Article I, Paragraph 2(c), through June 16, 2011 on the usual and customary
pay dates of Employer, falling every other week; provided, however, should June 16, 2011 (the last day of the Subsequent Term) fall between pay periods, the amount due Employee shall be paid to him on June 16, 2011 as the final amount due
under this provision. In the sole discretion of Employer, at the request of Employee a lump sum payment of the amounts that are to become due under the terms of this Article V, Paragraph 1(a) in the instance of termination of Employee prior to the
end 

  

 7 

 
of the term of this Agreement may be paid in a lump sum, which sum shall be discounted by that percentage rate which is the then-prevailing and in effect
interest rate for a United States Treasury Security having a maturity of three (3) years, publicly quoted during the week in which the termination, if any, occurred. Should such treasury security cease being sold, offered or quoted, the
parties, in good faith, shall select an equivalent index or discount rate by which to make the discount computation; 
 b. By
delivering to Employee, any stock options he would have earned as awarded by any resolution of the Board of Directors or the compensation respecting that calendar year in which termination, if any, ensued, identical in vesting and terms, but with
the awarded number of option shares being reduced ratably based upon the period of service of Employee prior to termination, compared with twelve months’ service; 
 c. By paying to Employee, when all similar bonuses are paid in the next calendar year, respecting that calendar year in which termination,
if any, ensued, that bonus he would have earned, if any, had he remained employed by Employer, reduced ratably based on the period of service of Employee prior to termination, compared with twelve months’ service. 
 For computational purposes, termination during days 1-15 of the month shall not count as that month’s service; however, termination during days 16 through and up to
31, shall count as that month’s service. All references to Employee in this Section shall include Employee, his representatives or his beneficiaries as applicable. 
 2. Obligations. Employee’s obligations under this Agreement shall continue, survive and remain enforceable in accordance with the terms hereof, whether or not Employee’s employment with Employer shall
be terminated voluntarily or involuntarily, with or without reason. 
 3. Future Agreement. Should this Agreement expire in accordance
with its terms with Employee within the employment of Employer, the parties will renew this Agreement on terms and conditions similar to other employees of equal title and position within Employer’s organization. 
 4. Enforcement. It is the express intention of the parties to this Agreement to comply with all laws applicable to the covenants and provisions
contained in this Agreement. If any of the covenants contained in this Agreement are found to exceed in duration or scope those permitted by law, it is expressly agreed that such covenant may be reformed or modified by the award or decree of an
arbitrator, or, if applicable, a final judgment of a court of competent jurisdiction or other lawful constituted authority, as the case may be, to reflect a lawful and enforceable duration or scope, and such covenant automatically shall be deemed to
be amended and modified so as to comply with the arbitration award, decree, judgment or order of such court or authority, as the case may be. If any one or more of the provisions contained herein shall for any reason be held invalid, illegal or
unenforceable in any respect even after 

  

 8 

 
reformation, such invalidity, illegality or unenforceability shall not affect the enforceability or validity of any other provision contained in this
Agreement, and this Agreement shall be construed as if such invalid, illegal, or unenforceable provisions had never been contained herein. 
 5. Adequacy of Consideration; Separate Agreements. Employee agrees that the agreements, non-competition agreements, nondisclosure agreements, and non-solicitation agreements set forth herein each constitute separate agreements,
independently supported by good and adequate consideration and shall be severable from the other provisions of this Agreement and shall survive the Agreement. The existence of any claim or cause of action of Employee against Employer, whether
predicated on this agreement or otherwise, shall not constitute a defense to the enforcement by Employer of the covenants and agreements of Employee contained in the non-competition, nondisclosure or the non-solicitation agreements. If a court of
competent jurisdiction determines that any restriction in a clause or provision of this Agreement is void, illegal or unenforceable, the other clauses and provisions of this Agreement shall remain in full force and effect and the clauses and
provisions that are determined to void, illegal or unenforceable shall be limited so that they shall remain in effect to the fullest extent permitted by law. 
 6. No Indirect Breach. Employee will use his best efforts to ensure that no relative of his, nor any corporation or other entity of which he is a officer, principal, manager, director or shareholder or other
affiliate, shall take any action that Employee could not take without violating any provision of this Agreement. 
 7. Injunctive
Relief. Employee recognizes and acknowledges that damages in the event of his breach of certain provisions of this Employment Agreement would be inadequate, and Employee agrees that Employer, in addition to all other remedies it may have, shall
have the right to injunctive relief via arbitration if there is a breach by Employee of any one or more of the provisions contained in Article II hereof. 
 8. Arbitration. Arbitration, including the right to invoke injunctive relief and any emergency relief or measures provided for, shall be the exclusive remedy for any and all disputes, claims or controversies,
whether statutory, contractual or otherwise, between Employer and Employee concerning Employee’s employment or the termination thereof. In the event either party provides a Notice of Arbitration of Dispute to the other party, Employer and
Employee agree to submit such dispute or controversy, whether statutory or otherwise, to an arbitrator or arbitrators selected from a panel of arbitrators of the American Arbitration Association located in Dallas, Texas. The effective rules of
Commercial Arbitration of the American Arbitration Association at the time of the commencement of the arbitration shall control the arbitration. In any arbitration proceeding conducted subject to these provisions, all statutes of limitations that
would otherwise be applicable shall apply to any arbitration proceeding hereunder. In any arbitration proceeding conducted subject to these provisions, the arbitrator(s) is/are specifically empowered to decide any question pertaining to limitations,
and may do so by documents or by a hearing, in his or her sole discretion. In this regard, the arbitrator may authorize the submission 

  

 9 

 
of pre-hearing motions similar to a motion to dismiss or for summary adjudication for the purposes of consideration this matter. The arbitrator’s
decision will be final and binding upon the parties. The parties further agree to abide by and perform any award rendered by the arbitrator. The prevailing party in such proceeding shall be entitled to record and have awarded its reasonable
attorney’s fees, in addition to any other relief to which it may be entitled. In rendering the award, the arbitrator shall state the reasons therefor, including any computations of actual damages or offsets, if applicable. 
 9. Waiver of Breach. The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a waiver
of any subsequent breach by any party. 
 10. Entire Agreement. This Agreement contains the entire agreement of the parties hereto. No
modification or amendment of this Agreement may be made except by written agreement signed by both of the parties hereto. 
 11.
Descriptive Headings. All headings, captions and arrangements used in this Agreement are intended solely for the convenience of the parties and shall not be deemed to limit, amplify or modify the terms of this Agreement nor affect the meaning
thereof. 
 12. Governing Law. The substantive laws of the State of Texas, excluding any conflicts of law rule or principle that might
otherwise refer to the substantive law of another jurisdiction, shall govern the interpretation, validity and effect of this Agreement without regard to the place for performance thereof. This Agreement has been executed and delivered by the parties
hereto in Dallas County, Texas, and Employer and Employee agree that venue as to any action which might ensue after arbitration shall be proper, if permitted, within the state or federal courts in Dallas County, Texas to decide any matter relating
to this Agreement or the related arbitration. 
 13. Notices. Any notice or communication required or permitted hereby shall be in
writing and shall be delivered personally, sent by prepaid telegram and followed with a confirming letter, or mailed by certified or registered mail, postage prepaid. 
  

			
	(a)	  	If to Employee, to:
		  	Terry L. Persinger
		  	1600 Promontory Drive
		  	Cedar Hill, TX 75104
		
	(b)	  	If to Employer, to:
		  	Mannatech, Incorporated
		  	Attn: General Counsel
		  	600 S. Royal Lane, Suite 200
		  	Coppell, Texas 75019

  

 10 

 or in the case of each party hereto, to such other address and to the attention of such other person as may have
theretofore been specified in writing in like manner by such party to the other party. Each such notice or communication shall be deemed to have been given as of the date so delivered or at the expiration of the third business day following the date
of the mailing. 
 14. Assignment. This Agreement shall insure to the benefit of and be binding upon Employer and Employee and their
respective successors and assigns. Employee shall not be entitled to assign any rights or obligations hereunder. 
 15. Prior
Agreement. This Agreement supersedes all prior agreements, including the Existing Employment Agreement, between the parties of any and every nature whatsoever, including agreements for additional compensation or benefits. All such prior
agreements are null and void. 
 16. Employee Acknowledgment. Each party to this Agreement has read and fully understands the terms
and provisions hereof, has had an opportunity to review this Agreement with legal counsel, has executed this Agreement based upon such party’s own judgment and advice of counsel (if any), and knowingly, voluntarily and without duress agrees to
all of the terms set forth in this Agreement. The parties have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted
jointly by the parties, and no presumption or burden of proof will arise favoring or disfavoring any party because of authorship of any provision of this Agreement. Except as expressly set forth in this Agreement, neither the parties nor their
affiliates, advisors and/or their attorneys have made any representation or warranty, express or implied, at law or in equity with respect to the subject matter contained herein. Without limiting the generality of the previous sentence, the Company,
its affiliates, advisors and/or attorneys have made no representation or warranty to Employee concerning the state or federal tax consequences to Employee regarding the transactions contemplated by this Agreement. 
 [SIGNATURE PAGE FOLLOWS] 
  

 11 

 IN WITNESS WHEREOF, the parties hereto have signed
this Agreement to be effective as of the 23rd day of August, 2007. 
  

			
	EMPLOYEE:
	
	 /s/ Terry L. Persinger

	Terry L. Persinger
	
	EMPLOYER:
	
	 Mannatech, Incorporated,
 a Texas corporation

		
	By:	 	 /s/ Terence L. O’Day

	Name:	 	  

	Title:	 	  

 Employment Agreement Signature Page

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