Document:

Registration Rights Agreement

 Exhibit 4.6 
  

NU SKIN ENTERPRISES, INC. 
  
 REGISTRATION RIGHTS AGREEMENT 
  
 This Registration Rights Agreement (this “Agreement”) is made and entered into as of July 26, 2004, by and among Nu Skin Enterprises,
Inc. (the “Company”) and the Purchasers. 
  
 This
Agreement is made pursuant to the Stock Purchase Agreement, dated as of July 26, 2004, by and among the Selling Stockholders and the Purchasers (the “Stock Purchase Agreement”), relating to the sale of the Stock by the Selling
Stockholders and the purchase of the Stock by the Purchasers upon the terms and subject to the conditions set forth therein. 
  
 In consideration of the mutual covenants and agreements contained herein and or other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Company and the Purchasers hereby agree as follows: 
  
 1.    Definitions.    Capitalized terms used and not otherwise defined herein that are defined in the Stock Purchase Agreement shall have the meanings given such
terms in the Stock Purchase Agreement. As used in this Agreement, the following terms shall have the following meanings: 
  
 “Agreement” shall have the meaning set forth in the Preamble. 
  
 “Advice” shall have the meaning set forth in
Section 7(c). 
  
 “Affected
Holders” shall have the meaning set forth in Section 7(d). 
  
 “Closing Date” means the date on which the Stock is sold by the Selling Stockholders to the Purchasers pursuant to the Stock Purchase Agreement. 
  
 “Commission” means the Securities and
Exchange Commission. 
  
 “Company” shall have the meaning set forth in the Preamble. 
  
 “Effectiveness Date” means, with respect to the Registration Statement required to be filed, the 120th day following the Closing Date. 
  
 “Effectiveness Period” shall have the meaning set forth in Section 2(b). 
  
 “Exchange Act” means the Securities Exchange
Act of 1934, as amended, and the rules and regulations promulgated thereunder. 
  
 “Filing Date” means, with respect to the Registration Statement required to be filed hereunder, the 30th day following the Closing Date. 

 “Holder” or “Holders” means the holder or holders, as
the case may be, from time to time of Registrable Securities. 
  
 “Indemnified Party” shall have the meaning set forth in Section 6(c). 
  
 “Indemnifying Party” shall have the meaning set forth in Section 6(c). 
  
 “Losses” shall have the meaning set forth in
Section 6(a). 
  
 “Notice” shall
have the meaning set forth in Section 3(a). 
  
 “Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding, such as a deposition), whether commenced or threatened. 
  
 “Prospectus” means the prospectus included
in a registration statement, as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by the registration statement, and all other amendments and
supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus. 
  
 “Stock Purchase Agreement” shall have the meaning set forth in the Preamble. 
  
 “Registrable Securities” means the Stock
that is sold by the Selling Stockholders to the Purchasers on the Closing Date pursuant to the Stock Purchase Agreement. 
  
 “Registration Statement” means the registration statement required to be filed pursuant to Section 2 hereunder, including
the Prospectus, amendments and supplements to such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material incorporated by reference or deemed to be incorporated by reference in such
registration statement. 
  
 “Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as
such Rule. 
  
 “Rule 415” means
Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

  
 “Rule 424” means Rule 424
promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
  
 “Securities Act” means the Securities Act of
1933, as amended, and the rules and regulations thereunder. 
  

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 “Suspension Period” shall have the meaning set forth in Section 2(b).

  
 2.    Shelf
Registration. 
  
 (a) On or prior
to the Filing Date, the Company shall prepare and file with the Commission the Registration Statement covering the resale of all Registrable Securities for an offering to be made on a continuous basis pursuant to Rule 415. The Registration Statement
shall be on Form S-3 (except if the Company is not then eligible to register for resale the Registrable Securities on Form S-3, in which case such registration shall be on another appropriate form in accordance herewith) and shall contain (except if
otherwise directed by the Holders) the “Plan of Distribution” attached hereto as Annex A. The Company shall use its commercially reasonable best efforts to cause the Registration Statement to be declared effective under the
Securities Act as soon as possible but, in any event, no later than the Effectiveness Date, provided, however, that the Company may, upon written notice to all Holders, postpone having the Registration Statement declared effective for
a period not to exceed 90 days if the Company possesses material non-public information, the disclosure of which would have a material adverse effect on the Company and its subsidiaries, taken as a whole. 
  
 (b) The Company shall use its commercially reasonable best
efforts to keep the Registration Statement continuously effective under the Securities Act until the earliest of: (i) the date which is two years after the date that such Registration Statement is declared effective by the Commission, (ii) the date
when all of the Registrable Securities registered under the Registration Statement are disposed of in accordance with the Registration Statement or (iii) the date when all Registrable Securities covered by such Registration Statement have been sold
or may be sold without volume restrictions pursuant to Rule 144 (the “Effectiveness Period”). Notwithstanding the foregoing, the Company may suspend the effectiveness of the Registration Statement and the use of the related
Prospectus by written notice to the Holders for a period not to exceed an aggregate of 30 days in any 60-day period (each such period, a “Suspension Period”) if the Board of Directors of the Company shall have determined in good
faith that because of valid business reasons, including the acquisition or divestiture of assets, pending corporate developments or similar events, it is in the best interests of the Company to suspend such effectiveness of use, provided,
that Suspension Periods shall not exceed an aggregate of 75 days in any 360-day period. The Company shall not be required to specify in the written notice to the Holders the nature of the event giving rise to the Suspension Period. 
  
 3.    Registration
Procedures.    In connection with the Company’s registration obligations hereunder, the Company shall: 
  
 (a)    (i)    Use its commercially reasonable best efforts to prepare and file with the Commission
such amendments, including post-effective amendments, to the Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration Statement continuously effective as to the applicable Registrable
Securities for the Effectiveness Period and prepare and file with the Commission such Registration Statement in order to register for resale under the Securities Act all of the Registrable Securities, as the case 
  

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may be; (ii) respond as promptly as reasonably possible to any comments received from the Commission with respect to the Registration Statement or any
amendment thereto; and (iii) comply in all material respects with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all Registrable Securities covered by the Registration Statement during the applicable
period in accordance with the intended methods of disposition by the Holders thereof set forth in the Registration Statement as so amended or in such Prospectus as so supplemented. The Company shall not be required to include a Holder’s shares
in the Registration Statement, and a Holder shall not be entitled to use the related Prospectus, if the Registration Statement has been declared effective by the Commission and such Holder has not delivered to the Company a completed and signed
Notice of Registration Statement and Selling Securityholder Questionnaire (the “Notice”), substantially in the form set forth in Annex B hereto, within fifteen (15) calendar days of the Closing Date. 
  
 (b)    Notify the Holders of Registrable
Securities to be sold as promptly as reasonably possible and (if requested by any such person) confirm such notice in writing (i) with respect to the Registration Statement or any post-effective amendment, when the same has become effective; (ii) of
any request by the Commission or any other Federal or state governmental authority for amendments or supplements to the Registration Statement or Prospectus or for additional information relating thereto; provided, however, that under
no circumstances shall the Company be required to disclose material non-public information in connection with the notice pursuant to this Section 3(b); (iii) of the issuance by the Commission of any stop order suspending the effectiveness of the
Registration Statement covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose; (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption
from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose; and (v) of the suspension of the Registration Statement pursuant to Section 2. 
  
 (c)    Use its commercially reasonable
best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order suspending the effectiveness of the Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any of the
Registrable Securities for sale in any jurisdiction, at the earliest practicable moment. 
  
 (d)    Promptly deliver to each Holder, without charge, as many copies of the Prospectus or Prospectuses and each
amendment or supplement thereto as such Holder may reasonably request in writing. Subject to any notice by the Company in accordance with Section 3(b), the Company hereby consents to the use of such Prospectus and each amendment or supplement
thereto by each of the selling Holders in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any amendment or supplement thereto. 
  
 (e)    Cooperate with the Holders to facilitate the timely preparation and delivery of
certificates representing the Registrable Securities to be delivered to a transferee pursuant to the Registration Statement, which certificates shall be free, to the extent permitted by the Stock Purchase Agreement, of all restrictive legends, and
to enable such Registrable Securities to be in such denominations and registered in such names as any such Holders may request. 
  

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 (f)    The Company may require each selling Holder to furnish to the
Company a certified statement as to the number of shares of Common Stock beneficially owned by such Holder and, if requested by the Commission, the controlling person thereof. 
  
 4.    Registration Expenses.    All fees and expenses incident to the
performance of or compliance with this Agreement by the Company shall be borne by the Company whether or not any Registrable Securities are sold pursuant to the Registration Statement. 
  
 5.    Non-Public Information.    The Company hereby confirms that no
Holder shall be in possession of any information that constitutes material, non-public information at the time of closing of the sale and purchase of the Stock pursuant to the terms of the Stock Purchase Agreement. In addition, the Company shall not
provide any Holder with any information that constitutes material, non-public information without such Holder’s prior written consent. 
  
 6.    Indemnification. 
  
 (a)    Indemnification by the Company.    The Company shall indemnify and hold
harmless each Holder, the officers, directors, partners, agents and employees of such Holder, each person who controls any such Holder (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the officers,
directors, partners, agents and employees of each such controlling person, to the fullest extent permitted by applicable law, from and against any and all losses, claims, damages or liabilities (collectively, “Losses”), insofar as
such Losses arise out of or are based upon (i) any untrue or alleged untrue statement of a material fact contained in the Registration Statement, any Prospectus or any form of prospectus or in any amendment or supplement thereto or in any
preliminary prospectus, or (ii) any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus or form of prospectus or supplement thereto, in light of the
circumstances under which they were made) not misleading, and the Company hereby agrees to reimburse such Holder for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such claim or action as
such expenses are incurred; provided, however, that the Company shall not be liable to any such Holder in any such case to the extent that such Losses arise out of or are based upon (1) any untrue statements or alleged untrue statements or
omissions or alleged omissions based upon information furnished in writing to the Company by such Holder expressly for use therein, or to the extent that such information relates to such Holder or such Holder’s proposed method of distribution
of Registrable Securities as set forth in the Registration Statement, such Prospectus or such form of Prospectus or in any amendment or supplement thereto (it being understood that the Holder has approved Annex A hereto for this purpose) or (2) in
the case of an occurrence of an event of the type specified in Section 3(b), the use by such Holder of an outdated or defective Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated or defective and prior
to the receipt by such Holder of the Advice contemplated in Section 7(c). The Company shall notify the Holders promptly of the institution, threat or assertion of any Proceeding of which the Company is aware in connection with the transactions
contemplated by this Agreement. 
  

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 (b)    Indemnification by
Holders.    Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, its directors, officers, agents and employees, each person who controls the Company (within the meaning of Section 15 of
the Securities Act and Section 20 of the Exchange Act), and the directors, officers, agents or employees of each such controlling person, to the fullest extent permitted by applicable law, from and against all Losses, as incurred, arising out of or
based upon: (x) such Holder’s failure to comply with the prospectus delivery requirements of the Securities Act or (y) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, any Prospectus,
or any form of prospectus, or in any amendment or supplement thereto, or arising out of or based upon any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading to the
extent, but only to the extent, that (1) such untrue statements or alleged untrue statements or omissions or alleged omissions are based upon information furnished in writing to the Company by such Holder expressly for use therein, or to the extent
that such information relates to such Holder or such Holder’s proposed method of distribution of Registrable Securities as set forth in the Registration Statement, such Prospectus or such form of Prospectus or in any amendment or supplement
thereto (it being understood that the Holder has approved Annex A hereto for this purpose) or (2) in the case of an occurrence of an event of the type specified in Section 3(b), the use by such Holder of an outdated or defective Prospectus after the
Company has notified such Holder in writing that the Prospectus is outdated or defective and prior to the receipt by such Holder of the Advice contemplated in Section 7(c). In no event shall the liability of any selling Holder hereunder be greater
in amount than the dollar amount of the net proceeds received by such Holder upon the sale of the Registrable Securities giving rise to such indemnification obligation. 
  
 (c)    Notice of Claims, Etc.    If any Proceeding
shall be brought or asserted against any person entitled to indemnity hereunder (an “Indemnified Party”), such Indemnified Party shall promptly notify the person from whom indemnity is sought (the “Indemnifying
Party”) in writing, and the Indemnifying Party shall assume the defense thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all fees and expenses incurred in connection with
defense thereof; provided, that the failure of any Indemnified Party to give such notice shall not relieve the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except and only to the extent that such failure
shall have adversely prejudiced the Indemnifying Party. 
  
 An Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party or Parties
unless: (1) the Indemnifying Party has agreed in writing to pay such fees and expenses or (2) the Indemnifying Party shall have failed promptly to assume the defense of such Proceeding and to employ counsel within a commercially reasonable period of
time after having received written notice of such Proceeding. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement or compromise of or consent to the entry of a judgment with respect to any
pending or threatened Proceeding in respect of which indemnification or contribution may be sought hereunder, unless such settlement, compromise or judgment (i) includes an unconditional release of such Indemnified Party from all liability on claims
that are the subject matter of such 
  

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Proceeding and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to act, by or on behalf of any Indemnified Party.

  
 All fees and expenses of the Indemnified Party
(including reasonable fees and expenses to the extent incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this Section) shall be paid to the Indemnified Party, as incurred, within ten
Trading Days of written notice thereof to the Indemnifying Party (regardless of whether it is ultimately determined that an Indemnified Party is not entitled to indemnification hereunder; provided, that the Indemnifying Party may require such
Indemnified Party to undertake to reimburse all such fees and expenses to the extent it is finally judicially determined that such Indemnified Party is not entitled to indemnification hereunder). 
  
 (d)    Contribution.    If a claim for indemnification under Section 6(a) or 6(b) is unavailable to or insufficient to hold harmless an Indemnified Party (by reason of public policy or
otherwise), then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the
relative fault of the Indemnifying Party and Indemnified Party in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable considerations. The relative fault of such Indemnifying Party
and Indemnified Party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission of a material fact, has been taken or
made by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such action, statement or omission. The
amount paid or payable by a party as a result of any Losses shall be deemed to include, subject to the limitations set forth in Section 6(c), any reasonable attorneys’ or other reasonable fees or expenses incurred by such party in connection
with any Proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in this Section was available to such party in accordance with its terms. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 
  
 The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section
6(d) were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately preceding paragraph. 
  
 7.    Miscellaneous. 
  
 (a)    Remedies.    In the event of a breach by the Company or by a Holder, of any of their obligations under this Agreement, each Holder or the Company, as the case may be, in addition
to being entitled to exercise all rights granted by law and under this Agreement, including recovery of damages, will be entitled to specific performance of its rights under this Agreement. 
  

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 (b)    Compliance.    Each Holder
covenants and agrees that it (i) will comply with the prospectus delivery requirements of the Securities Act as applicable to it in connection with sales of the Registrable Securities pursuant to the Registration Statement and (ii) will conduct
itself in accordance with the limitations and restrictions of the telephone interpretation issued by the Division of Corporation Finance of the Commission which states the following: 
  
 “An issuer filed a Form S-3 registration statement for a secondary offering of common stock which is not yet
effective. One of the selling shareholders wanted to do a short sale of common stock ‘against the box’ and cover the short sale with registered shares after the effective date. The issuer was advised that the short sale could not be made
before the registration statement becomes effective, because the shares underlying the short sale are deemed to be sold at the time such sale is made. There would, therefore, be a violation of Section 5 if the shares were effectively sold prior to
the effective date.” (SEC Tel. Int. A. 65.) 
  
 (c)    Discontinued Disposition.    Each Holder agrees by its acquisition of such Registrable Securities that, upon receipt of a notice from the Company of the occurrence of any event of
the kind described in Sections 2(b) and 3(b), such Holder will forthwith discontinue disposition of such Registrable Securities under the Registration Statement until such Holder’s receipt of the copies of the supplemented Prospectus and/or
amended Registration Statement or until it is advised in writing (the “Advice”) by the Company that the use of the applicable Prospectus may be resumed, and, in either case, has received copies of any additional or supplemental
filings that are incorporated or deemed to be incorporated by reference in such Prospectus or Registration Statement. The Company may provide appropriate stop orders to enforce the provisions of this paragraph. 
  
 (d)    Amendments and
Waivers.    The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given,
unless the same shall be in writing and signed by the Company and the Holders of at least 80% of the then outstanding Registrable Securities. 
  
 (e)    Notices.    Any and all notices or other communications or deliveries
required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile telephone number
specified in this Section prior to 6:30 p.m. (New York City time) on a Trading Day, (ii) the Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile telephone number specified in this
Agreement later than 6:30 p.m. (New York City time) on any date and earlier than 11:59 p.m. (New York City time) on such date, (iii) the Trading Day following the date of mailing, if sent by nationally recognized overnight courier service, or (iv)
upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as follows: 
  

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	 If to the Company:
	  	Nu Skin Enterprises, Inc.
	 	  	75 West Center Street
	 	  	Provo, UT 84601
	 	  	Attn: General Counsel
	 	  	Fax No.: (801) 345-3899
		
	 With a copy to:
	  	Simpson Thacher & Bartlett LLP
	 	  	3330 Hillview Avenue
	 	  	Palo Alto, CA 94304
	 	  	Attn: Kevin Kennedy, Esq.
	 	  	Facsimile No.: (650) 251-5002
		
	 If to a Purchaser:
	  	To the address set forth under such Purchaser’s name on the signature pages hereto.
		
	 If to any other person who is
	  	 
	     then the registered Holder:
	  	 To the address of such Holder as it appears in the stock transfer books of the Company

  
 or such other address
as may be designated in writing hereafter, in the same manner, by such person. 
  
 (f)    Successors and Assigns.    This Agreement shall be binding upon each party hereto and its successors and assigns. Each Purchaser shall be entitled to
transfer or assign its interest hereunder to up to three persons or entities which are non-affiliated with it and to any affiliate thereof. 
  
 (g)    Execution and Counterparts.    This Agreement may be executed in any number
of counterparts, each of which when so executed shall be deemed to be an original and, all of which taken together shall constitute one and the same Agreement. In the event that any signature is delivered by facsimile transmission, such signature
shall create a valid binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile signature were the original thereof. 
  
 (h)    Governing
Law.    All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York,
without regard to the principles of conflicts of law thereof. Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via
registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and
notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right
to trial by jury in any legal proceeding arising out 
  

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of or relating to this Agreement or the transactions contemplated hereby. If either party shall commence an action or proceeding to enforce any provisions of
this Agreement, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its reasonable attorneys fees and other reasonable costs and expenses incurred with the investigation, preparation and prosecution of
such action or proceeding. 
  
 (i)    Severability.    If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the
remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts to
find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would
have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 
  
 (j)    Headings.    The headings in this Agreement are
for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 
  
 (k)    Independent Nature of Purchasers’ Obligations and Rights.    The
obligations of each Purchaser hereunder is several and not joint with the obligations of any other Purchaser hereunder, and no Purchaser shall be responsible in any way for the performance of the obligations of any other Purchaser hereunder. Nothing
contained herein or in any other agreement or document delivered at any closing, and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any
other kind of entity, or create a presumption that the Purchasers are in any way acting in concert with respect to such obligations or the transactions contemplated by this Agreement. Each Purchaser shall be entitled to protect and enforce its
respective rights, including without limitation the rights arising out of this Agreement, and it shall not be necessary for any other Purchaser to be joined as an additional party in any proceeding for such purpose. 
  
 (l)    No Superior
Rights.    The Company has not entered into any side letter or similar agreement with any Holder in connection with this Agreement on or prior to the date hereof. The Company will not enter into a side letter with any
Holder after the date hereof that has the effect of establishing rights or otherwise benefiting such Holder in a manner more favorable in any material respect to such Holder than the rights and benefits established in favor of the Holder by this
Agreement. 
  

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 SIGNATURE PAGES TO FOLLOW] 
  

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 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first
written above. 
  
  

			
	 NU SKIN ENTERPRISES, INC.

		
	 By:
	 	 /s/  D. Matthew Dorny

	 	 	Name:  D. Matthew Dorny
	 	 	Title:    Vice President

  
  
  
  
  
  
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 SIGNATURE PAGES OF PURCHASERS TO FOLLOW] 
  

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first
written above. 
  
  

			
	PURCHASER:
	
	 Chilton Global Partners, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

  
  
  
  
  
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first
written above. 
  
  

			
	PURCHASER:
	
	 Chilton International, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

  
  
  
  
  
  
  
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first
written above. 
  
  

			
	PURCHASER:
	
	 Chilton Investment Partners, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

  
  
  
  
  
  
  
  
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first
written above. 
  
  

			
	PURCHASER:
	
	 Chilton Opportunity International, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

  
  
  
  
  
  
  
  
  
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first
written above. 
  
  

			
	PURCHASER:
	
	 Chilton Opportunity Trust, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

  
  
  
  
  
  
  
  
  
  
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first
written above. 
  
  

			
	PURCHASER:
	
	 Chilton QP Investment Partners, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

  
  
  
  
  
  
  
  
  
  
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first
written above. 
  
  

			
	PURCHASER:
	
	 Chilton Small Cap International, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

  
  
  
  
  
  
  
  
  
  
  
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first
written above. 
  
  

			
	PURCHASER:
	
	 Chilton Small Cap Partners, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

  
  
  
  
  
  
  
  
  
  
  
  
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first
written above. 
  
  

					
	 	 	PURCHASER:
		
	 	 	 Invus Public Equities LP

			
	 	 	 By:
	  	 /s/ Raymond Debbane

			
	 	 	 Name:
	  	 Raymond Debbane

			
	 	 	 Title:
	  	 President of Invus Public Equities Advisors LLC

			
	 	 	 Address:
	  	 135 East 57 28th Floor

 New York, NY 10022

			
	 	 	 Phone:
	  	 (212) 317-7520

			
	 	 	 Facsimile:
	  	

  
  
  
  
  
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 Annex A 
  
 Plan of Distribution 
  
 The Selling Stockholders and any of their pledgees, assignees and successors-in-interest may, from time to time, sell any or all of their shares of Common
Stock on any stock exchange, market or trading facility on which the shares are traded or in private transactions. These sales may be at fixed or negotiated prices. The Selling Stockholders may use any one or more of the following methods when
selling shares: 
  

	 	•	ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers; 

  

	 	•	block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate the transaction;

  

	 	•	purchases by a broker-dealer as principal and resale by the broker-dealer for its account; 

  

	 	•	an exchange distribution in accordance with the rules of the applicable exchange; 

  

	 	•	privately negotiated transactions; 

  

	 	•	in satisfaction of positions created by short sales; 

  

	 	•	broker-dealers may agree with the Selling Stockholders to sell a specified number of such shares at a stipulated price per share; 

  

	 	•	a combination of any such methods of sale; and 

  

	 	•	any other method permitted pursuant to applicable law. 

  
 The Selling Stockholders may also sell shares under Rule 144 under the Securities Act, if available, rather than under this prospectus. 
  
 Broker-dealers engaged by the Selling Stockholders may arrange for other
brokers-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the Selling Stockholders (or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser) in amounts to be negotiated. The
Selling Stockholders do not expect these commissions and discounts to exceed what is customary in the types of transactions involved. 
  
 The Selling Stockholder may from time to time pledge or grant a security interest in some or all of the Shares or common stock owned by them and, if they
default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of common stock from time to time under this prospectus, or under an amendment to this prospectus under Rule 424(b)(3) or other
applicable provision of the Securities Act of 1933, by 

 
amending the list of Selling Stockholders to include the pledgee, transferee or other successors in interest as Selling Stockholders under this prospectus.

  
 The Selling Stockholders and any broker-dealers or agents that
are involved in selling the shares may be deemed to be “underwriters” within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents and any profit on the
resale of the shares purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. The Selling Stockholders have informed the Company that it does not have any agreement or understanding, directly or
indirectly, with any person to distribute the Common Stock. 
  
 The Company is required to pay all fees and expenses incident to the registration of the shares. The Company has agreed to indemnify the Selling Stockholders against certain losses, claims, damages and liabilities, including certain
liabilities under the Securities Act. 

 Annex B 
  
 Nu Skin Enterprises, Inc. 
  
 Notice of Registration Statement 
 and

 Selling Securityholder Questionnaire 
  
 The undersigned beneficial holder of Class A Common Stock (the “Registrable Securities”) of Nu Skin Enterprises, Inc. (the “Company”)
understands that the Company has filed or intends to file with the United States Securities and Exchange Commission (the “Commission”) a registration statement on an appropriate form (the “Shelf Registration Statement”) for the
registration and resale under Rule 415 of the United States Securities Act of 1933, as amended (the “Securities Act”), of the Registrable Securities in accordance with the terms of the Registration Rights Agreement, dated as of
            , 2004 (the “Registration Rights Agreement”), between the Company and the Purchasers party thereto. A copy of the Registration Rights Agreement is available
from the Company upon request at the address set forth below. 
  
 In order to sell or otherwise dispose of any Registrable Securities pursuant to the Shelf Registration Statement (or a supplement or amendment thereto), a beneficial owner of Registrable Securities generally will be required to be named as
a Selling Securityholder in the related prospectus, deliver a prospectus to purchasers of Registrable Securities and be bound by those provisions of the Registration Rights Agreement applicable to such beneficial owner (including certain
indemnification provisions, as described below). In addition, this Notice of Registration Statement and Selling Securityholder Questionnaire must be completed, executed and delivered to the Company at the address set forth herein for receipt ON
OR BEFORE             , 2004. Beneficial owners of Registrable Securities who do not complete, execute and return this Notice and Questionnaire by such date (i) will not be named
as selling securityholders in the Shelf Registration Statement and (ii) may not use the Prospectus forming a part thereof for resales of Registrable Securities. Certain legal consequences arise from being named as a selling securityholder in the
Shelf Registration Statement and related prospectus. Accordingly, holders and beneficial owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named or not being named as a
selling securityholder in the Shelf Registration Statement and related prospectus. 
  
 NOTICE 
  
 The undersigned
beneficial owner (the “Selling Securityholder”) of Registrable Securities hereby gives notice to the Company of its intention to sell or otherwise dispose of Registrable Securities beneficially owned by it and listed below in Item 3
(unless otherwise specified under Item 3) pursuant to the Shelf Registration Statement. The undersigned, by signing and returning this Notice and Questionnaire, agrees to be bound with respect to such Registrable Securities by the terms and
conditions of this Notice and Questionnaire and the Registration Rights Agreement. The Selling Securityholder hereby provides the following information to the Company and represents and warrants that such information is accurate and complete:

 QUESTIONNAIRE 
  

									
	1.	 	(a)	  	 Full legal name of Selling Securityholder:
  
  
                                       
                                        
                                        
                                        
                       

			
	 	 	(b)	  	 Full legal name of registered holder (if not the same as in (a) above) of Registrable Securities listed
 in Item 3 below:
  
  
  
                                       
                                        
                                        
                                        
                       

			
	 	 	(c)	  	 Full legal name of DTC participant (if applicable and if not the same as (b) above) through which
 Registrable Securities listed in Item 3 below are held:
  
  
  
                                       
                                        
                                        
                                        
                       

			
	2.	 	 	  	Address for notices to Selling Securityholder:
					
	 	 	 	  	 	  	  
  
                                       
                                  
	 	 
					
	 	 	 	  	 	  	                                      
                                  	 	 
					
	 	 	 	  	 	  	                                      
                                  	 	 
	 	 	 	  	  
 Telephone:
	  	  
                                       
                                  
	 	 
					
	 	 	 	  	Fax:	  	                                      
                                  	 	 
					
	 	 	 	  	Contact Person:	  	                                      
                                  	 	 
			
	3.	 	 	  	Beneficial ownership of Registrable Securities:
			
	 	 	 	  	 Principal amount of Registrable Securities beneficially owned:
  
                                       
                                        
                                        
                                        
                       

			
	 	 	 	  	  
                                       
                                        
                                        
                                        
                       

	 	 	 	  	  
 CUSIP No(s). of such Registrable Securities:

  
                                       
                                        
                                        
                                        
                       

			
	4.	 	 	  	 Beneficial Ownership of other securities of the Company:
  
 Except as set forth below in this Item 4, the undersigned Selling Securityholder is not the beneficial or
 registered owner of any shares of common stock or any other securities of the Company, other than the
 Registrable Securities listed above in Item 3.
  
 State any exceptions here:
  
                                       
                                        
                                        
                                        
                       
  
                                       
                                        
                                        
                                        
                       
  
                                       
                                        
                                        
                                        
                       

			
	5.	 	 	  	 Relationships with the Company:
  
 Except as set forth below, neither the Selling Securityholder nor any of its affiliates, officers, directors
 or principal equity holders (5% or more) has held any position or office or has had any other material
 relationship with the Company (or its predecessors or affiliates) during the past three years.

					
	 	 	 	  	 State any exceptions here:
  
                                       
                                        
                                        
                                 
  
                                       
                                        
                                        
                                 

			
	6.	 	 	  	 Plan of Distribution:
  
 Except as set forth below, the undersigned Selling Securityholder (including its donees or pledges) intends to distribute the Registrable Securities listed above in
Item 3 pursuant to the Shelf Registration Statement only as follows (if at all): Such Registrable Securities may be sold from time to time directly by the undersigned Selling Securityholder or, alternatively, through underwriters, broker-dealers or
agents. Such Registrable Securities may be sold in one or more transactions at fixed prices, at prevailing market prices at the time of sale, at varying prices determined at the time of sale, or at negotiated prices. Such sales may be effected in
transactions (which may involve crosses or block transactions) (i) on any national securities exchange or quotation service on which the Registrable Securities may be listed or quoted at the time of sale, (ii) in the over-the-counter market, (iii)
in transactions otherwise than on such exchanges or services or in the over-the-counter market, or (iv) through the writing of options. In connection with sales of the Registrable Securities or otherwise, the Selling Securityholder may enter into
hedging transactions with broker-dealers, which may in turn engage in short sales of the Registrable Securities in the course of hedging the positions they assume. The Selling Securityholder may also sell Registrable Securities short and deliver
Registrable Securities to close out such short positions, or loan or pledge Registrable Securities to broker-dealers that in turn may sell such securities.
  

State any exceptions here:
  
                                       
                                        
                                        
                                 
  
                                       
                                        
                                        
                                 
  
 By signing below, the Selling Securityholder acknowledges that it understands its obligation
to comply, and agrees that it will comply, with the prospectus delivery and other provisions of the Securities Act and the Exchange Act and the rules and regulations thereunder, particularly Regulation M.
  
 The Selling Securityholder hereby acknowledges its obligations under the Registration Rights
Agreement to indemnify and hold harmless certain persons under certain circumstances as set forth therein.
  
 Pursuant to the Registration Rights Agreement, the Company has agreed under certain circumstances to indemnify the Selling Securityholders against certain liabilities.
  
 In the event that the Selling Securityholder transfers all or any portion of the Registrable
Securities listed in Item 3 above after the date on which such information is provided to the Company, the Selling Securityholder agrees to notify the transferee(s) at the time of the transfer of its rights and obligations under this Notice and
Questionnaire and the Registration Rights Agreement.
  
 By signing below, the
Selling Securityholder consents to the disclosure of the information contained herein in its answers to Items 1 through 6 above and the inclusion of such information in the Shelf Registration Statement and related Prospectus. The Selling
Securityholder

 understands that such information will be relied upon by the Company in connection with the preparation
of the Shelf Registration Statement and related prospectus. 
  
 In
accordance with the Selling Securityholder’s obligation under the Registration Rights Agreement to provide such information as may be required by law for inclusion in the Shelf Registration Statement, the Selling Securityholder agrees to
promptly notify the Company of any inaccuracies or changes in the information such that would require an amendment to the Shelf Registration Statement, the related prospectus or any prospectus supplement thereto provided herein which may occur
subsequent to the date hereof at any time while the Shelf Registration Statement remains in effect. All notices hereunder and pursuant to the Registration Rights Agreement shall be made in writing, by hand-delivery, first-class mail, or air courier
guaranteeing overnight delivery as follows: 
  
 (i)    To the Company: 
  
 Nu Skin
Enterprises, Inc. 
 75 West Center Street 
 Provo, Utah 84601 
 Attention: Matthew Dorny 
  
 (ii)    With a copy to: 
  
 Simpson Thacher & Bartlett LLP 
 3330 Hillview Avenue 
 Palo Alto, CA 94304 
 Attention: Kevin Kennedy 
  
 Once this Notice and Questionnaire is executed by the Selling Securityholder and received by the Company, the terms of this Notice and Questionnaire, and
the representations and warranties contained herein, shall be binding on, shall inure to the benefit of and shall be enforceable by the respective successors, heirs, personal representatives, and assigns of the Company and the Selling Securityholder
(with respect to the Registrable Securities beneficially owned by such Selling Securityholder and listed in Item 3 above). This Agreement shall be governed in all respects by the laws of the State of New York. 
  
 [THE REMAINDER OF THIS PAGE LEFT INTENTIONALLY BLANK.] 

 IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused this Notice and Questionnaire to
be executed and delivered either in person or by its duly authorized agent. 
  
  
 Dated:
                                      
                   
  
  

			
	 	 	                                       
                                        
                                        
         

	 	 	 Selling Securityholder

	 	 	 (Print/type full legal name of beneficial owner of Registrable Securities)

	 	 	 
	 	 	 
	 	 	 
	 	 	 By:                                      
                                        
                                        
   

	 	 	 Name:

	 	 	 Title:

 Exhibit 1 
  

 
 NOTICE OF TRANSFER PURSUANT TO REGISTRATION STATEMENT 
  
 Nu Skin Enterprises, Inc. 
 75 West Center Street 
 Provo, Utah 84601 
 Attention: Matthew Dorny 
  
 American Stock
Transfer & Trust Company 
 6201 15th Avenue 
 Brooklyn, New York 11219 
 Attention:
Barry Rosenthal 
  

			
	 Re:
	 	 Nu Skin Enterprises, Inc. (the “Company”)
 Class A Common Stock (the “Shares”)

  
 Dear Sirs: 
  
 Please be advised that
                                        
has transferred $                 aggregate principal amount of the above-referenced pursuant to an effective Registration Statement on Form S-3 (File No.
333-                ) filed by the Company. 
  
 We hereby certify that the prospectus delivery requirements, if any, of the Securities Act of 1933, as amended, have been satisfied with respect to the
transfer described above and that the above-named beneficial owner of the Shares is named as a selling securityholder in the Prospectus dated             , 200_, or in amendments or
supplements thereto, and that the aggregate principal amount of the Shares transferred are [all] [a portion of] the Shares listed in such Prospectus as amended or supplemented opposite such owner’s name. 
  
 Dated: 
  

			
	 	 	Very truly yours,
	 	 	 
	 	 	                                      
                                        
   
	 	 	 (Name)

	 	 	 
	 	 	 
	 	 	 
	 	 	 By:                                      
                                     

	 	 	 (Authorized Signature)Stock Purchase Agreement

 Exhibit 4.7 
 NU SKIN ENTERPRISES, INC. 
  
 STOCK PURCHASE AGREEMENT 
  
 This Stock Purchase
Agreement (this “Agreement”) is made as of 4:40 p.m. EDT on July 26, 2004 by and among the stockholders of Nu Skin Enterprises, Inc., a Delaware corporation (the “Company”) listed on Schedule I attached hereto (each
a “Selling Stockholder” and together the “Selling Stockholders”), and the purchasers listed on Schedule II attached hereto (each a “Purchaser” and together the “Purchasers”).

  
 In consideration of the mutual covenants and agreements
contained herein and or other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  
 1.    Purchase and Sale of Common Stock. 
  
 1.1    Sale and Issuance of Common Stock.
Subject to the terms and conditions of this Agreement, each of the Purchasers agrees, severally and not jointly, to purchase that number of shares of Class A Common Stock, par value $0.001, of the Company (the “Class A Common
Stock”), listed opposite such Purchaser’s name on Schedule II and each of the Selling Stockholders, severally and not jointly, agrees to sell that number of Class A Common Stock listed opposite such Selling Stockholder’s name on
Schedule I. The shares of Class A Common Stock sold to the Purchasers pursuant to this Agreement are hereinafter referred to as the “Stock.” The per share purchase price of the Stock to be paid by the Purchasers under this Agreement
shall be equal to the lesser of (i) 96.25% of the closing sale price of the Company’s Class A Common Stock on July 27, 2004 (the “Notice Date”) which is the date the Company will give notice to the Stockholders that the Company
is exercising its right to purchase shares of Class A Common Stock pursuant to the terms and conditions of that certain Lock-Up Agreement, dated as of October 22, 2003, by and among the Company and certain of its stockholders party thereto or (ii)
96.25% of the average closing sale price of the Company’s Class A Common Stock on the Notice Date and the 14 trading days immediately preceding such date (the “Per Share Purchase Price”). Such Per Share Purchase Price
represents the total consideration to be paid for each share of Stock purchased hereunder. 
  
 1.2    Closing; Delivery. 
  
 (a)    The purchase and sale of the Stock (the “Closing”) shall take place at the
offices of Simpson Thacher & Bartlett LLP, 3330 Hillview Avenue, Palo Alto, California 94304 (or such other location mutually agreeable to the parties hereto) no later than the fourth (4th) business day after the date of this Agreement.

  
 (b)    Upon execution of this Agreement,
each Selling Stockholder shall deliver to American Stock Transfer & Trust Company, as custodian (the “Custodian”), a 

 certificate or certificates for the number of shares of the Stock to be sold by such Selling Stockholder pursuant to this
Agreement. 
  
 (c) Prior to Closing, each Purchaser shall deliver
to Bank One, N.A. (the “Escrow Agent”) pursuant to an escrow agreement by and among the Company, the Selling Stockholders, the Purchasers and the Escrow Agent (the “Escrow Agreement”) (a form of which is attached
hereto as Exhibit A) the dollar value determined by multiplying the Per Share Purchase Price by the number of shares of Stock listed opposite such Purchaser’s name on Schedule II. 
  
 2.    Representations and Warranties of the Selling Stockholders. Each Selling Stockholder
severally and not jointly represents and warrants to each Purchaser as of the date hereof and as of the Closing as follows: 
  
 2.1    Authorization of Agreements. Such Selling Stockholder has the full right, power and authority to enter into this
Agreement, the Power of Attorney, the Custody Agreement and the Escrow Agreement referred to in Section 2.3 below and to sell, transfer and deliver the Stock to be sold by such Selling Stockholder hereunder. The execution and delivery of this
Agreement, the Power of Attorney, the Custody Agreement and the Escrow Agreement and the sale and delivery of the Stock to be sold by such Selling Stockholder and the consummation of the transactions contemplated herein and therein and compliance by
such Selling Stockholder with its obligations hereunder and thereunder, have been duly authorized by such Selling Stockholder and do not and will not, whether with or without the giving of notice or passage of time or both, conflict with or
constitute a breach of, or default under, or result in the creation or imposition of any tax, lien, charge or encumbrance upon the Stock to be sold by such Selling Stockholder or any property or assets of such Selling Stockholder pursuant to, or
create any obligation to such Selling Stockholder or Purchaser under, any contract, indenture, mortgage, deed of trust, loan or credit agreement, note, license, lease or other agreement or instrument to which such Selling Stockholder is a party or
by which such Selling Stocking may be bound, or to which any of the property or assets of such Selling Stockholder is subject, nor will such action result in any violation of the provisions of the charter or by-laws or other organizational
instrument of such Selling Stockholder, if applicable, or any applicable treaty, law, statute, rule, regulation, judgment, order, writ or decree of any government, government instrumentality or court, domestic or foreign, having jurisdiction over
such Selling Stockholder or any of its properties. 
  
 2.2    Valid Title. Such Selling Stockholder has and will at the Closing have valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform
Commercial Code in respect of, the Stock to be sold by such Selling Stockholder hereunder, free and clear of any security interest, mortgage, pledge, lien, charge, claim, equity or encumbrance of any kind, including without limitation any
restrictions under any lock-up agreement, stockholder agreement or any other agreement, other than pursuant to this Agreement; and upon delivery of such Stock and payment of the purchase price therefor as herein contemplated, assuming each such
Purchaser has no notice of any adverse claim, each of the Purchasers will receive valid title to the Stock purchased by it from such Selling Stockholder, free and clear of any security interest, mortgage, pledge, lien, charge, claim, 
  

 2 

 equity or encumbrance of any kind, including without limitation any restrictions under any lock-up agreement, stockholder
agreement or any other agreement. 
  
 2.3    Due Execution of Power-of-Attorney, Custody Agreement, Escrow Agreement and Form W-9 . Such Selling Stockholder has duly executed and delivered, in the form heretofore furnished to the Purchasers,
the Power of Attorney (the “Power-of-Attorney”) (the form of which is attached hereto as Exhibit B) with Blake M. Roney and Brooke B. Roney as attorneys-in-fact (each an “Attorney-in–Fact”), the Custody
Agreement (the “Custody Agreement”) (the form of which is attached hereto as Exhibit C) with the Custodian, the Escrow Agreement (the form of which is attached hereto as Exhibit A) with the Escrow Agent and such Purchaser has
completed an Internal Revenue Service W-9; the Custodian is authorized to deliver the Stock to be sold by such Selling Stockholder hereunder and to accept payment therefor; and each Attorney-in-Fact is authorized to execute and deliver this
Agreement on behalf of such Selling Stockholder, to sell, assign and transfer to the Purchasers the Stock to be sold by such Selling Stockholder hereunder, to authorize the delivery of the Stock to be sold by such Selling Stockholder hereunder, to
accept payment therefor, and otherwise to act on behalf of such Selling Stockholder in connection with this Agreement. 
  
 2.4    Absence of Manipulation. Such Selling Stockholder has not taken, and will not take prior to the Closing,
directly or indirectly, any action which is designed to or which has constituted or which might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale
of the Stock. 
  
 2.5    Absence of
Further Requirements. No filing with, or consent, approval, authorization, order, registration, qualification or decree of, any court or governmental authority or agency, domestic or foreign, or any third party (including but not limited to
the Company) requirements, is necessary or required for the performance by each Selling Stockholder of its obligations under this Agreement or under the Custody Agreement, or in connection with the sale and delivery of the Stock or the consummation
of the transactions contemplated by this Agreement except such as may have previously been made or obtained or as may be required under the Securities Act of 1933, as amended (the “Securities Act”), or state securities laws.

  
 2.6    Certificates Suitable for
Transfer. Certificates for all of the Stock to be sold by such Selling Stockholder pursuant to this Agreement in suitable form for transfer by delivery or accompanied by duly executed instruments of transfer or assignment in blank with
signatures guaranteed, have been placed in custody with the Custodian with irrevocable conditional instructions to deliver such Stock to the Purchasers pursuant to this Agreement. 
  
 2.7    Tax Advisors. Such Selling Stockholder has reviewed with its own tax advisors the
U.S. federal, state, local and foreign tax consequences of the transactions contemplated by this Agreement. Such Selling Stockholder understands and agrees that it (and not the Purchasers) shall be responsible for its own tax liability that may
arise as a result of the transactions contemplated by this Agreement. 
  

 3 

 3.    Representations and Warranties of the Purchasers. Each Purchaser
severally and not jointly represents and warrants to each Selling Stockholder as of the date hereof and as of the Closing as follows: 
  
 3.1    Authorization of Agreements. Such Purchaser has the full right, power and authority to enter into and deliver
this Agreement and the Escrow Agreement, and this Agreement and the Escrow Agreement, when executed and delivered by such Purchaser, will each constitute a valid and legally binding obligation of such Purchaser, enforceable against such Purchaser in
accordance with its terms except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, and other laws of general application affecting enforcement of creditors’ rights generally, as limited by laws
relating to the availability of specific performance, injunctive relief, or other equitable remedies. By way of elaboration, but not limitation, if this Agreement and the Escrow Agreement are executed and delivered on behalf of a partnership,
corporation, trust or estate: (i) such partnership, corporation, trust or estate has the full legal right and power and all authority and approval required (a) to execute and deliver, or authorize execution and delivery of, this Agreement, the
Escrow Agreement and all other instruments executed and delivered by or on behalf of such partnership, corporation, trust or estate, in connection with the purchase of the Stock to be purchased by such Purchaser hereunder, (b) to delegate authority
pursuant to a power of attorney and (c) to purchase and hold such Stock; (ii) the signature of the party signing on behalf of such partnership, corporation, trust or estate is binding on such partnership, corporation, trust or estate; and (iii) such
partnership, corporation or trust has not been formed for the specific purpose of acquiring such Stock. 
  
 3.2    Compliance with Other Instruments. The execution, delivery and performance of this Agreement and the Escrow
Agreement by such Purchaser and the consummation of the transactions contemplated hereby and thereby will not result in any violation or be in conflict with or constitute, with or without the passage of time and giving of notice, either a default
under any provision of the governing documents of such Purchaser or any instrument, judgment, order, writ, decree or contract to which such Purchaser or any of its subsidiaries is a party or by which it is bound, or any provision of any federal or
state statute, rule or regulation applicable to such Purchaser or any of its subsidiaries. 
  
 3.3    Due Execution of Escrow Agreement. Such Purchaser has duly executed and delivered the Escrow Agreement. 
  
 3.4    Purchase Entirely for Own Account. This Agreement is made with such Purchaser in
reliance upon such Purchaser’s representation to the Selling Stockholders, which by such Purchaser’s execution of this Agreement, such Purchaser hereby confirms, that the Stock to be acquired by such Purchaser will be acquired for
investment for such Purchaser’s own account, not as a nominee or agent, and not with a view to the resale or public distribution of any part thereof in violation of any requirements of the Securities Act or applicable state securities laws.
Other than as permitted by applicable law, such Purchaser has no present intention of selling, granting any participation in, or otherwise distributing any Stock purchased hereunder, including, without limitation, entering into any arrangement that
transfers to another, in whole or in part, any of the economic consequences of ownership of the Stock, 
  

 4 

 whether any such transaction is to be settled by delivery of the Stock or other securities, in cash or otherwise. By
executing this Agreement, such Purchaser further represents that such Purchaser does not presently have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participation to such person or to any third
person, with respect to any of the Stock. 
  
 3.5    Disclosure of Information. Such Purchaser has been given the opportunity to ask questions of, and has received answers from, the Company with respect to the terms and conditions of this offering and
the publicly available information relating to the business or financial condition of the Company. Such Purchaser has also had access to and has reviewed the Company’s publicly available filings with the Securities and Exchange Commission
including, but not limited to, the Risk Factors set forth in Amendment No. 4 to the Company’s Registration Statement on Form S-3 (File No. 333-109836) filed with the Securities and Exchange Commission on July 26, 2004 as well as the financial
and business information contained in the Company’s most recent filings on Forms 10-Q and 10-K under the Securities Exchange Act of 1934, as amended. In addition, the Company has provided, on a confidential basis, to such Purchaser the
information set forth on Schedule III hereto. In evaluating the suitability of an investment in the Stock, such Purchaser has not been furnished with nor relied upon any representations or other information (whether oral or written) relating to the
business or financial condition of the Company from the Selling Stockholders, the Company or their respective representatives or agents other than as described above or set forth in the Company’s publicly available documents. 
  
 3.6    No General Solicitation. Such
Purchaser is not purchasing the Stock as a result of or subsequent to any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar
or meeting open to the general public. 
  
 3.7    Restricted Securities. Such Purchaser understands that the Stock has not been registered under the Securities Act, by reason of a specific exemption from the registration provisions of the Securities
Act that depends upon, among other things, the bona fide nature of the investment intent and the accuracy of such Purchaser’s representations as expressed herein. Such Purchaser understands that the shares of Stock are “restricted
securities” under applicable U.S. federal and state securities laws and that, pursuant to these laws, such Purchaser must hold the shares of Stock indefinitely unless they are registered with the SEC and qualified by state authorities, or an
exemption from such registration and qualification requirements is available. Such Purchaser further acknowledges that if an exemption from registration or qualification is available, it may be conditioned on various requirements including, but not
limited to, the time and manner of sale, the holding period for the Stock, and on requirements relating to the Company that are outside of such Purchaser’s control, and that the Company is under no obligation, and may not be able, to satisfy.

  
 3.8    Legends. Such
Purchaser understands that the Stock, and any securities issued in respect thereof, may bear one or all of the following legends: 
  
 (a)    “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE 
  

 5 

 SECURITIES ACT OF 1933, AS AMENDED (“ACT”), OR ANY OTHER SECURITIES LAWS. THESE SECURITIES
HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A
FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT.” 
  
 (b)    Any legend required by the “Blue Sky” laws of any state to the extent such laws are applicable to the shares represented by the certificate so legended. 
  
 3.9    Accredited Investor. Such Purchaser
is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities Act. 
  
 3.10    Absence of Manipulation. Such Purchaser has not taken, and will not take prior to the Closing, directly or
indirectly, any action which is designed to or which has constituted or which might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company. 
  
 4.    Conditions of the Purchasers’
Obligations at Closing. The obligations of the Purchasers to the Selling Stockholders under this Agreement are subject to the fulfillment, on or before the Closing, of each of the following conditions, unless otherwise waived by each
Purchaser: 
  
 4.1    Representations
and Warranties. The representations and warranties of each of the Selling Stockholders shall be true and correct in all material respects on and as of the date of the Closing with the same effect as though such representations and warranties
had been made on and as of the date of the Closing. 
  
 4.2    Performance. The Selling Stockholders shall have performed and complied with all covenants, agreements, obligations and conditions contained in this Agreement and the Custody Agreement that are
required to be performed or complied with by them on or before the Closing and the Selling Stockholders shall have obtained any and all consents, permits and waivers necessary or appropriate for consummation of the transactions contemplated by the
Agreement and the Custody Agreement. 
  
 4.3    Compliance Certificate. Each of the Selling Stockholders shall deliver to the Purchasers at the Closing a certificate certifying that the conditions specified in Sections 4.1 and 4.2 have been
fulfilled. 
  
 4.4    Qualifications. All authorizations, approvals or permits, if any, of any governmental authority or regulatory body of the United States or of any state that are required in connection with the lawful
sale of the Stock pursuant to this Agreement shall be obtained and effective as of the Closing. 
  

 6 

 4.5    Registration Rights Agreement. The Company shall have executed
and delivered to the Purchasers at the Closing a Registration Rights Agreement (the “Registration Rights Agreement”) between the Company and the Purchasers in substantially the form attached hereto as Exhibit D. 
  
 4.6    Stock Repurchase Agreement. The
transactions contemplated by the Stock Repurchase Agreement by and among the Company and the Selling Stockholders party thereto (the “Stock Repurchase Agreement”) (a form of which is attached hereto as Exhibit E) shall have been
consummated in accordance with the terms of such Stock Repurchase Agreement. 
  
 5.    Conditions of the Selling Stockholders’ Obligations at Closing. The obligations of the Selling Stockholders to the Purchasers under this Agreement are subject to the
fulfillment, on or before the Closing, of each of the following conditions, unless otherwise waived by each Selling Stockholder: 
  
 5.1    Representations and Warranties. The representations and warranties of the Purchasers contained in Section 3
shall be true and correct in all material respects on and as of the date of the Closing with the same effect as though such representations and warranties had been made on and as of the date of the Closing. 
  
 5.2    Performance. The Purchasers shall
have performed and complied with all covenants, agreements, obligations and conditions contained in this Agreement and the Escrow Agreement that are required to be performed or complied with by them on or before the Closing and the Purchasers shall
have obtained any and all consents, permits and waivers necessary or appropriate for consummation of the transactions contemplated by the Agreement and the Escrow Agreement. 
  
 5.3    Compliance Certificate. A senior executive officer, trustee or person holding
similar authority with each of the Purchasers shall deliver to the Selling Stockholders at the Closing a certificate certifying that the conditions specified in Sections 5.1 and 5.2 have been fulfilled. 
  
 5.4    Qualifications. All authorizations,
approvals or permits, if any, of any governmental authority or regulatory body of the United States or of any state that are required in connection with the lawful sale of the Stock pursuant to this Agreement shall be obtained and effective as of
the Closing. 
  
 5.5    Stock
Repurchase Agreement. The transaction contemplated by the Stock Repurchase Agreement shall have been consummated in accordance with the terms of such Stock Repurchase Agreement 
  
 6.    Miscellaneous. 
  
 6.1    Survival. The representations and warranties of the Selling Stockholders and the
Purchasers contained herein shall terminate on the first anniversary of the Closing. 
  

 7 

 6.2    Transfer; No Third Party Beneficiaries. This Agreement and each
party’s rights and obligations hereunder shall not be assigned without the prior written consent of the other party; provided, that a Purchaser may transfer its rights hereunder to an affiliate, so long as such affiliate agrees in
writing to be bound by all obligations under this Agreement and confirms in writing the representations and warranties set forth in Section 3 as if made by such affiliate. Nothing in this Agreement, express or implied, is intended to confer upon any
party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement. 
  
 6.3    Governing Law. This Agreement and all acts and transactions pursuant hereto and
the rights and obligations of the parties hereto shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to principles of conflicts of laws. 
  
 6.4    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 constitute one instrument. 
  
 6.5    Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not
to be considered in construing or interpreting this Agreement. 
  
 6.6    Notices. Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient upon delivery, when delivered personally or by overnight courier or sent by telegram or
fax, or forty-eight (48) hours after being deposited in the U.S. mail, as certified or registered mail, with postage prepaid, addressed to the party to be notified at such party’s address as set forth on the signature page hereto, or as
subsequently modified by written notice, and if to any of the Selling Stockholders with a copy to P. Christian Anderson, Snell & Wilmer L.L.P., Gateway Tower West, 15 W. South Temple, Suite 1200, Salt Lake City, Utah 84101, Fax: (801) 257-1800.

  
 6.7    Finder’s Fee.
Each party represents that it neither is nor will be obligated for any finder’s fee or commission, except for such fees payable to Avondale Partners, LLC as set forth in the Escrow Agreement, in connection with this transaction. Each Purchaser
agrees to indemnify and to hold harmless each Selling Stockholder from any liability for any commission or compensation in the nature of a finder’s fee (and the costs and expenses of defending against such liability or asserted liability) for
which such Purchaser or any of its officers, employees, or representatives is responsible. Each Selling Stockholder agrees to indemnify and hold harmless each Purchaser from any liability for any commission or compensation in the nature of a
finder’s fee (and the costs and expenses of defending against such liability or asserted liability) for which such Selling Stockholder or any of its officers, employees or representatives is responsible. 
  
 6.8    Fees and Expenses. Each of the
Selling Stockholders and the Purchasers shall pay their respective fees and other expenses in connection with the negotiation, execution, delivery and performance of this Agreement. 
  

 8 

 6.9    Attorney’s Fees. If any action at law or in equity
(including arbitration) is necessary to enforce or interpret the terms of any of the Agreement, the prevailing party shall be entitled to reasonable attorney’s fees, costs and necessary disbursements in addition to any other relief to which
such party may be entitled. 
  
 6.10    Amendments and Waivers. Any term of this Agreement may be amended or waived only with the written consent of each of the Selling Stockholders and each of the Purchasers. Any amendment or waiver
effected in accordance with this Section 6.10 shall be binding upon each Purchaser and each transferee of the Stock, each future holder of all such Stock, and the Selling Stockholders. 
  
 6.11    Severability. If one or more provisions of this Agreement are held to be
unenforceable under applicable law, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (a) such provision shall be
excluded from this Agreement, (b) the balance of the Agreement shall be interpreted as if such provision were so excluded and (c) the balance of the Agreement shall be enforceable in accordance with its terms. 
  
 6.12    Delays or Omissions. No delay or
omission to exercise any right, power or remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting
party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any
other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any
provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be
cumulative and not alternative. 
  
 6.13    Entire Agreement. This Agreement, and the documents referred to herein, constitute the entire agreement between the parties hereto pertaining to the subject matter hereof, and any and all other
written or oral agreements relating to the subject matter hereof existing between the parties hereto are expressly canceled. 
  
 6.14    Independent Nature of Purchaser’s Obligations and Rights. The obligations of each Purchaser hereunder is
several and not joint with the obligations of any other Purchaser hereunder, and no Purchaser shall be responsible in any way for the performance of the obligations of any other Purchaser hereunder. Nothing contained herein or in any other agreement
or document delivered at any closing, and no action taken by any Purchaser pursuant hereto, shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create any presumption that
the Purchasers are in any way acting in concert or as a “group” as defined in Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, with respect to such obligations or the transaction contemplated by this Agreement.

  

 9 

 6.15    No Superior Rights. No Selling Stockholder has entered into
any side letter or similar agreement with any Purchaser in connection with the purchase of Stock by such Purchaser pursuant to this Stock Purchase Agreement (a “Side Letter”) on or prior to the date hereof. No Selling Stockholder
shall enter into a Side Letter with any Purchaser after the date hereof that has the effect of establishing rights or otherwise benefiting such Purchaser in a manner more favorable in any material respect to such Purchaser than the rights and
benefits established in favor of the Purchaser pursuant to this Stock Purchase Agreement. 
  
 6.16    Termination. This Agreement may be terminated and the transactions contemplated hereby may be abandoned at any time prior to the Closing: 
  
 (i)    at any time by mutual written
consent of each of the Selling Stockholders and each of the Purchasers; or 
  
 (ii)    by any party hereto if the Closing does not occur on or prior to on or prior to the fourth (4th) business day after the date of this Agreement. 
  
 Upon any such termination, this Agreement shall become void and of no further
effect, except for Sections 6.3, 6.7, 6.8, 6.9 and this Section 6.16 which shall survive such termination. 
  

 10 

 IN WITNESS WHEREOF, this Stock Purchase Agreement has been executed as of the date first written above.

  
  

			
	 	 	SELLING STOCKHOLDERS:
		
	 	 	 Blake M. Roney, as Attorney-In-Fact acting on behalf of
 each of the Selling Stockholders listed on Schedule I to this
 Stock Purchase Agreement.

		
	 	 	 /s/ Blake M. Roney

	 	 	Blake M. Roney, Attorney-In-Fact

 IN WITNESS WHEREOF, this Stock Purchase Agreement has been executed as of the date first written above.

  
  

			
	PURCHASER:
	
	 Chilton Global Partners, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

 IN WITNESS WHEREOF, this Stock Purchase Agreement has been executed as of the date first written above.

  
  

			
	PURCHASER:
	
	 Chilton International, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

  
  
  
  

 IN WITNESS WHEREOF, this Stock Purchase Agreement has been executed as of the date first written above.

  
  

			
	PURCHASER:
	
	 Chilton Investment Partners, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

  
  
  
  

 IN WITNESS WHEREOF, this Stock Purchase Agreement has been executed as of the date first written above.

  
  

			
	PURCHASER:
	
	 Chilton Opportunity International, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

  
  
  
  

 IN WITNESS WHEREOF, this Stock Purchase Agreement has been executed as of the date first written above.

  
  

			
	PURCHASER:
	
	 Chilton Opportunity Trust, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

 IN WITNESS WHEREOF, this Stock Purchase Agreement has been executed as of the date first written above.

  
  

			
	PURCHASER:
	
	 Chilton QP Investment Partners, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

 IN WITNESS WHEREOF, this Stock Purchase Agreement has been executed as of the date first written above.

  
  

			
	PURCHASER:
	
	 Chilton Small Cap International, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

 IN WITNESS WHEREOF, this Stock Purchase Agreement has been executed as of the date first written above.

  
  

			
	PURCHASER:
	
	 Chilton Small Cap Partners, L.P.

		
	 By:
	 	 Chilton Investment Company, Inc.

		
	 By:
	 	 /s/ Norman B. Champ III

			
		
	 Name:
	  	 Norman B. Champ III

		
	 Title:
	  	 Co-Chief Operating Officer

			
		
	 Address:
	  	 1266 East Main Street, 7th Floor

 Stamford, CT 06902

		
	 Phone:
	  	 (203) 352-4000

			
		
	 Facsimile:
	  	 (203) 352-4006

  

 IN WITNESS WHEREOF, this Stock Purchase Agreement has been executed as of the date first written above.

  
  

			
	PURCHASER:
	
	 Invus Public Equities LP

		
	 By:
	 	 /s/ Raymond Debbane

		
	 Name:
	 	 Raymond Debbane

		
	 Title:
	 	 President of Invus Public Equities Advisors LLC

		
	 Address:
	 	 135 East 57 28th Floor

 New York, NY 10022

		
	 Phone:
	 	 (212) 317-7520

		
	 Facsimile:
	 	

  
  
  
 NB : Invus Public Equities Advisors LLC, General Partner of Invus Public Equities LP

  

 SCHEDULE I 
  

			
	 Selling Stockholder

	  	Selling Stockholder
Commitment

	 BMR NS-Holdings LLC
	  	   587,712
	 NR Rhino Company, L.C.
	  	   618,432
	 SJL NS Holdings LLC
	  	     48,976
	 BBR NS Holdings LLC
	  	     48,976
	 Sandra N. Tillotson Family Trust
	  	     85,904
	 The Sandra N. Tillotson Foundation
	  	     10,000
	 SNT Rhino Company, L.C.
	  	   100,000
	 Total
	  	1,500,000

 SCHEDULE II 
  

			
	 Purchaser

	  	Purchase Commitment

	 Chilton International, L.P.
	  	   400,125
	 Chilton QP Investment Partners, L.P.
	  	   219,363
	 Chilton Investment Partners, L.P.
	  	     75,545
	 Chilton Opportunity International, L.P.
	  	     22,666
	 Chilton Opportunity Trust, L.P.
	  	     38,578
	 Chilton Global Partners, L.P.
	  	     23,723
	 Chilton Small Cap Partners, L.P.
	  	     72,974
	 Chilton Small Cap International, L.P.
	  	   147,026
	 Invus Public Equities L.P.
	  	   500,000
	 Total
	  	1,500,000

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