Document:

Employment agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This employment agreement (the
“Agreement”) is entered into by and between David Colbert (“you” or “your”) and LifeVantage Corporation, a Colorado corporation, (the “Company”). This Agreement has an effective date of August 1, 2012
(the “Effective Date”). In consideration of the mutual covenants and promises made in this Agreement, you and the Company agree as follows: 
 1. Position and Responsibilities. As of the Effective Date, you will commence serving as a full-time employee of the Company as the Company’s Chief Financial Officer. You shall report
directly to the Company’s President and CEO. You shall have the duties, responsibilities and authority that are customarily associated with such position and such other senior management duties as may reasonably be assigned. You will devote
your full time, efforts, abilities, and energies to promote the general welfare and interests of the Company and any related enterprises of the Company. Your primary workplace will be located at the Company’s Utah office, located at 9815 South
Monroe Street, Suite 100, Sandy, Utah 84070. Nothing herein shall preclude you from (i) serving, with the prior consent of the President and CEO, as a member of the board of directors or advisory boards (or their equivalents in the case of a
non-corporate entity) of non-competing businesses and charitable organizations, (ii) engaging in charitable activities and community affairs, and (iii) managing your personal investments and affairs; provided, however, that the activities
set out in clauses (i), (ii) and (iii) shall be limited by you so as not to materially interfere, individually or in the aggregate, with the performance of your duties and responsibilities hereunder. 

2. Base Salary. You will be paid an annual base salary of $310,000 (the “Base Salary”) for your services, payable
in the time and manner that the Company customarily pays its employees and subject to increase or decrease at the discretion of the President and CEO and Board of Directors. 
 3. Annual Incentive Plan. Effective as of the effective date and each fiscal year thereafter during your employment and while this Agreement is in effect, you will be eligible to participate
in the Employee Annual Incentive Plan Program at the Officer Level. Any such incentive shall be paid to you during the first three months of the fiscal year that follows the applicable performance fiscal year. The incentive will be deemed to have
been earned on the date of payment of such incentive and you must remain an employee of the Company through the date of payment in order to receive the incentive. 
 4. Stock Options and Compensatory Equity. Effective as of the start of FY14 and each fiscal year thereafter while you are an employee of the Company and this Agreement is in effect, you will
be eligible to receive grants of stock options (or other grants of Company equity) to purchase shares of the Company’s common stock. Such equity grants, if any, will be made in the sole discretion of the Board of Directors and will be subject
to the terms and conditions specified by the Board of Directors, the Company’s stock plan, the award agreement that you must execute as a condition of any grant and the Company’s insider trading policy. If required by applicable law with
respect to transactions involving Company equity securities, you agree that you shall use your best efforts to comply with any duty that you may have to (i) timely report any such transactions and (ii) to refrain from engaging in certain
transactions from time to time. The Company has no duty to register under (or otherwise obtain an exemption from) the Securities Act of 1933 (or applicable state securities laws) with respect to any Company equity securities that may be issued to
you. Any equity compensation awards that were granted to you before the Effective Date shall continue to be governed by their applicable terms and conditions. 

 Upon the Effective Date, subject to approval of the Board of Directors and subject to you
being an employee on the Effective Date, you shall be granted a Restricted Stock Grant under the 2010 LTIP of 82,000 shares of Company common stock (the “Restricted Stock Grant”). The Restricted Stock Grant must be timely executed and a
Restricted Stock Grant Agreement prescribed by the Company will provide the terms and conditions of the Restricted Stock Grant. The Restricted Stock Agreement will provide for one fourth of the total shares to vest on the first anniversary date of
the Restricted Stock Agreement, one fourth of the total shares to vest on the second anniversary of the Restricted Stock Agreement, one fourth of the total shares to vest on the third anniversary of the Restricted Stock Agreement, and the remaining
one fourth of the total shares to vest on the fourth anniversary of the Restricted Stock Agreement assuming you remain continuously employed during such term. 
 5. Expense Reimbursement. During your employment and while this Agreement is in effect, you will be reimbursed for all reasonable business expenses (including, but without limitation, travel
expenses) upon the properly completed submission of requisite forms and receipts to the Company in accordance with the Company’s expense reimbursement policy. 
 6. Employee Benefit Programs. During your employment with the Company, and except as may be provided under an employee stock purchase plan, you will be entitled to participate, on the same
terms as generally provided to senior executives, in all Company employee benefit plans and programs at the time or thereafter made available to Company senior executive officers including, without limitation, any savings or profit sharing plans,
deferred compensation plans, stock option incentive plans, group life insurance, accidental death and dismemberment insurance, hospitalization, surgical, major medical and dental coverage, vacation, sick leave (including salary continuation
arrangements), long-term disability, holidays and other employee benefit programs sponsored by the Company. The Company may amend, modify or terminate these benefits at any time and for any reason. Any change in any employee benefit program or
programs applicable to all covered employees shall not constitute a material breach of the terms of the Agreement. 
 7.
Termination of Employment. Unless the Company requests otherwise in writing, upon termination of your employment for any reason, you understand and agree that you shall be deemed to have also immediately resigned from all positions as
an officer (and/or director, if applicable) with the Company (and its affiliates) as of your last day of employment (the “Termination Date”). Upon termination of your employment for any reason, you shall receive payment or benefits from
the Company covering the following: (i) all unpaid salary and unpaid vacation accrued pursuant to the paid time off policy through the Termination Date, (ii) any payments/benefits to which you are entitled under the express terms of any
applicable Company employee benefit plan, (iii) any unreimbursed valid business expenses for which you have submitted properly documented reimbursement requests, and (iv) your then outstanding equity compensation awards as governed by
their applicable terms (collectively, (i) through (iv) are the “Accrued Pay”). You may also be eligible for other post-employment payments and benefits as provided in this Agreement. Termination shall not be made until on or
after the date of a “separation from service” within the meaning of Code Section 409A. 

  
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 (a) At-Will Employment. Your employment with the Company is at-will and either you
or the Company may terminate your employment at any time and for any reason (or no reason), with or without Cause (as defined below), in each case subject to the terms and provisions of this Agreement. 

(b) For Cause. For purposes of this Agreement, your employment may be terminated by the Company for “Cause” as a result
of the occurrence of one or more of the following: 
 (i) a charge, through indictment or criminal complaint, entry of pretrial
diversion or sentencing agreement, or your conviction of, or a plea of guilty or nolo contendere to, a felony or other crime involving moral turpitude, dishonesty or fraud, or any other criminal arrest (for example D.U.I.) which the Company, in its
discretion considers inappropriate or harmful to its interests; 
 (ii) your refusal or inability to satisfactorily perform, in
any material respect your duties and responsibilities for the Company or your failure to comply in any material respect with the terms of this Agreement and the Confidentiality Agreement and the policies and procedures of the Company; 

(iii) fraud or deceptive or illegal conduct in your performance of duties for the Company; 

(iv) your material breach of any material term of this Agreement; or 

(v) any conduct by you which is materially injurious to the Company or materially injurious to the business reputation of the Company or
a Company affiliate. 
 In the event your employment is terminated by the Company for Cause you will be entitled only to your
Accrued Pay and you will be entitled to no other compensation or benefit from the Company. 
 (c) Without Cause. The
Company may terminate your employment Without Cause at any time and for any reason with notice. If your employment is terminated Without Cause then in addition to your Accrued Pay, you will be eligible to receive the following: payments equal in the
aggregate to your then annualized Base Salary. The payments shall be paid to you in cash, in substantially equal monthly installments payable over the twelve (12) month period following your Termination Date, provided, however, the first
payment (in an amount equal to two (2) months of Base Salary) shall be made on the sixtieth (60th) day following the Termination Date. As a condition to receiving (and continuing to receive) the payments provided in this Section you must:
(i) within not later than forty-five (45) days after your Termination Date, execute (and not revoke) and deliver to the Company a Separation Agreement in a form prescribed by the Company and such Separation Agreement shall include without
limitation a release of all claims against the Company and its affiliates along with a covenant not to sue and (ii) remain in full compliance with such Separation Agreement. 

(d) Voluntary Termination. In the event you voluntarily terminate your employment with the Company, you will be entitled to
receive only your Accrued Pay. You will be entitled to no other compensation from the Company. 

  
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 (e) Death or Disability. In the event your employment with the Company is terminated
due to your Disability, death or presumed death, then you or your estate will be entitled to receive your Accrued Pay. For purposes of this Agreement, “Disability” is defined to occur when you are unable to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months.

 (f) Termination Within Twelve (12) Months of a Change of Control. The provisions of this Section set forth
certain terms of an agreement reached between you and the Company regarding your rights and obligations upon the occurrence of a Change in Control of Company. These provisions are intended to assure and encourage in advance your continued attention
and dedication to your assigned duties and your objectivity during the pendency and after the occurrence of any such event. These provisions shall terminate and be of no further force or effect beginning twelve (12) months after each occurrence
of a Change of Control. 
 (i) “Change in Control” shall mean an event which shall be deemed to have occurred
if (a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), other than a trustee or other fiduciary holding
securities under an employee benefit plan of the Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3 promulgated under the Exchange Act), directly or indirectly owner, of securities of Company representing 60% or more
of the combined voting power of Company’s then outstanding securities; or (b) the stockholders of the Company approve a merger or consolidation of the Company with or into any other corporation, other than a merger or consolidation which
would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least sixty percent
(60%) of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company approve a plan of complete liquidation of Company
or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets. 
 (ii) If
within twelve (12) months after the occurrence of an event constituting a Change in Control, your employment terminates for any reason other than for Cause, Disability, death or presumed death, or voluntary termination, then Company shall pay
you those benefits described in Section 7 (c) above, entitled Without Cause; and 
 (iii) unless otherwise provided
in the applicable option agreement or award agreement, all stock options and other stock-based awards granted to you by Company shall immediately accelerate and become exercisable or non-forfeitable as of the date of Change in Control, and you shall
be entitled to any other rights and benefits with respect to stock-related awards, to the extent and upon the terms provided in the employee stock option or incentive plan or any agreement or other instrument attendant thereto pursuant to which such
options or awards were granted. 
 (g) Resignation for Good Reason. You may resign your employment from the Company for
“Good Reason” only if there is a Change in Control as defined in 3(f)(i) above and within ninety (90) days after the date that any one of the following events described in the below subparts (g)(i) through (g)(ii) (any one of which
will constitute “Good Reason”) has first 

  
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occurred without your written consent. Your resignation for Good Reason will only be effective if the Company has not cured or remedied the Good Reason event within 30 days after its receipt of
your written notice (such notice shall describe in detail the basis and underlying facts supporting your belief that a Good Reason event has occurred). Failure to timely provide such written notice to the Company or failure to timely resign your
employment for Good Reason means that you will be deemed to have consented to and waived the Good Reason event. If the Company does timely cure or remedy the Good Reason event, then you may either resign your employment without Good Reason or you
may continue to remain employed subject to the terms of this Agreement. 
 (i) You have incurred a material diminution in your
responsibilities, duties or authority; 
 (ii) You have incurred a material diminution in your Base Salary; or 

(iii) The Company has materially breached a material term of this Agreement. 

If you resign for good reason, then in addition to your Accrued Pay, you will be eligible to receive the following: payments equal in the
aggregate to your then annualized Base Salary. The payments shall be paid to you in cash, in substantially equal monthly installments payable over the twelve (12) month period following your Termination Date, provided, however, the first
payment (in an amount equal to two (2) months of Base Salary) shall be made on the sixtieth (60th) day following the Termination Date. As a condition to receiving (and continuing to receive) the payments provided in this Section you must:
(i) within not later than forty-five (45) days after your Termination Date, execute (and not revoke) and deliver to the Company a Separation Agreement in a form prescribed by the Company and such Separation Agreement shall include without
limitation a release of all claims against the Company and its affiliates along with a covenant not to sue and (ii) remain in full compliance with such Separation Agreement. 

8. Limitation on Golden Parachute Payments. Notwithstanding any other provision of this Agreement or any such other
agreement or plan, if any portion of the Total Payments (as defined below) would constitute an Excess Parachute Payment (as defined below) and therefore would be nondeductible to the Company by reason of the operation of Code Section 280G
relating to golden parachute payments and/or would be subject to the golden parachute excise tax (“Excise Tax”) by reason of Section 4999 of the Code, then the full amount of the Total Payments shall not be provided to you and you
shall instead receive the Reduced Total Payments (as defined below). 
 If the Total Payments must be reduced to the Reduced
Total Payments, the reduction shall occur in the following order: (1) reduction of cash payments for which the full amount is treated as a Parachute Payment; (2) cancellation of accelerated vesting (or, if necessary, payment) of cash
awards for which the full amount is not treated as a parachute payment; (3) cancellation of any accelerated vesting of equity awards; and (4) reduction of any continued employee benefits. In selecting the equity awards (if any) for which
vesting will be reduced under clause (3) of the preceding sentence, awards shall be selected in a manner that maximizes the after-tax aggregate amount of Reduced Total Payments provided to you, provided that if (and only if) necessary in order
to avoid the imposition of an additional tax under Section 409A of the Code, awards instead shall be selected in the reverse order of the date of grant. 

  
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 For the avoidance of doubt, for purposes of measuring an equity compensation award’s
value to you when performing the determinations under the preceding paragraph, such award’s value shall equal the then aggregate fair market value of the vested shares underlying the award less any aggregate exercise price less applicable
taxes. Also, if two or more equity awards are granted on the same date, each award will be reduced on a pro-rata basis. In no event shall (i) you have any discretion with respect to the ordering of payment reductions or (ii) the Company be
required to gross up any payment or benefit to you to avoid the effects of the Excise Tax or to pay any regular or excise taxes arising from the application of the Excise Tax. 
 All mathematical determinations and all determinations of whether any of the Total Payments are Parachute Payments that are required to be made under this Section shall be made by a nationally recognized
independent audit firm selected by the Company (the “Accountants”), who shall provide their determination, together with detailed supporting calculations regarding the amount of any relevant matters, both to the Company and to you. Such
determination shall be made by the Accountants using reasonable good faith interpretations of the Code. The Company shall pay the fees and costs of the Accountants which are incurred in connection with this Section. 

“Excess Parachute Payment” has the same meaning provided to such term by Treasury Regulations section 1.280G-1 Q/A-3.

 “Parachute Payment” has the same meaning provided to such term by Treasury Regulations section 1.280G-1 Q/A-2.

 “Reduced Total Payments” means the lesser portion of the Total Payments that may be provided to you instead of the
Total Payments. The Reduced Total Payments shall be the maximum amount from the Total Payments that can be provided to you without incurring Excess Parachute Payments. 
 “Total Payments” means collectively the benefits or payments provided by the Company (or by any person who acquires ownership or effective control of the Company or ownership of a substantial
portion of the Company’s assets within the meaning of Section 280G of the Code and the regulations thereunder) to or for the benefit of you under this Agreement or any other agreement or plan. 

9. Proprietary Information and Inventions Agreement; Confidentiality. You will be required, as a condition of your
employment with the Company, to timely execute the Company’s form of proprietary information and inventions agreement as may be amended from time to time by the Company (“Confidentiality Agreement”). 

10. Assignability; Binding Nature. Commencing on the Effective Date, this Agreement will be binding upon you and the
Company and your respective successors, heirs, and assigns. This Agreement may not be assigned by you except that your rights to compensation and benefits hereunder, subject to the limitations of this Agreement, may be transferred by will or
operation of law. No rights or obligations of the Company under this Agreement may be assigned or transferred except in the event of a merger or consolidation in which the Company is 

  
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not the continuing entity, or the sale or liquidation of all or substantially all of the assets of the Company provided that the assignee or transferee is the successor to all or substantially
all of the assets of the Company and assumes the Company’s obligations under this Agreement contractually or as a matter of law. The Company will require any such purchaser, successor or assignee to expressly assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be required to perform if no such purchase, succession or assignment had taken place. Your rights and obligations under this Agreement shall not be transferable by you by
assignment or otherwise provided, however, that if you die, all amounts then payable to you hereunder shall be paid in accordance with the terms of this Agreement to your devisee, legatee or other designee or, if there be no such designee, to your
estate. 
 11. Governing Law; Arbitration. To the extent not preempted by federal law, this Agreement will be
deemed a contract made under, and for all purposes shall be construed in accordance with, the laws of Utah. Any controversy or claim relating to this Agreement or any breach thereof, and any claims you may have arising from or relating to your
employment with the Company, will be settled solely and finally by arbitration in Salt Lake City, Utah before a single arbitrator and judgment upon such award rendered by the arbitrator may be entered in any court having jurisdiction thereof,
provided that this Section shall not be construed to eliminate or reduce any right the Company or you may otherwise have to obtain a temporary restraining order or a preliminary or permanent injunction to enforce any of the covenants contained in
this Agreement before the matter can be heard in arbitration. 
 12. Taxes. The Company shall have the right to
withhold and deduct from any payment hereunder any federal, state or local taxes of any kind required by law to be withheld with respect to any such payment. The Company shall not be liable to you or other persons as to any unexpected or adverse tax
consequence realized by you and you shall be solely responsible for the timely payment of all taxes arising from this Agreement that are imposed on you. This Agreement is intended to comply with the applicable requirements of Code Section 409A
and shall be limited, construed and interpreted in a manner so as to comply therewith. Each payment made pursuant to any provision of this Agreement shall be considered a separate payment and not one of a series of payments for purposes of Code
Section 409A. While it is intended that all payments and benefits provided under this Agreement to you will be exempt from or comply with Code Section 409A, the Company makes no representation or covenant to ensure that the payments under
this Agreement are exempt from or compliant with Code Section 409A. The Company will have no liability to you or any other party if a payment or benefit under this Agreement is challenged by any taxing authority or is ultimately determined not
to be exempt or compliant. In addition, if upon your Termination Date, you are then a “specified employee” (as defined in Code Section 409A), then solely to the extent necessary to comply with Code Section 409A and avoid the
imposition of taxes under Code Section 409A, the Company shall defer payment of “nonqualified deferred compensation” subject to Code Section 409A payable as a result of and within six (6) months following your Termination
Date until the earlier of (i) the first business day of the seventh (7th) month following your Termination Date or (ii) ten (10) days after the Company receives written confirmation of your death. Any such delayed payments shall
be made without interest. Additionally, the reimbursement of expenses or in-kind benefits provided pursuant to this Agreement shall be subject to the following conditions: (1) the expenses eligible for reimbursement or in-kind benefits in one
taxable year shall not affect the expenses eligible for reimbursement or in-kind benefits in any other taxable year; (2) the reimbursement of eligible expenses or in-kind benefits shall be made promptly, subject to the Company’s applicable
policies, but in no event later than the end of the year after the year in which such expense was incurred; and (3) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit. 

  
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 13. Entire Agreement. Except as otherwise specifically provided in this
Agreement, this Agreement (and the agreements referenced herein) contains all the legally binding understandings and agreements between you and the Company pertaining to the subject matter of this Agreement and supersedes all such agreements,
whether oral or in writing, previously discussed or entered into between the parties including without limitation any term sheets regarding your potential employment with the Company. As a material condition of this Agreement, you represent that by
entering into this Agreement or by becoming a Company employee you are not violating the terms of any other contract or agreement or other legal obligations that would prohibit you from performing your duties for the Company. You further agree and
represent that in providing your services to the Company you will not utilize or disclose any other entity’s trade secrets or confidential information or proprietary information. You represent that you are not resigning employment or relocating
any residence in reliance on any promise or representation by the Company regarding the kind, character, or existence of such work, or the length of time such work will last, or the compensation therefor. 

14. Non-Competition and Non-Solicitation. 
 (a) Non-solicitation of employees, independent distributors and other consultants. During your employment and for a period of two years after your employment terminates, you will not directly or
indirectly solicit or induce, or attempt to solicit or induce, any employee, independent distributor or other consultant of the Company to quit their employment or cease rendering services to the Company, unless you are specifically authorized to do
so by the Company. 
 (b) Non-solicitation of Customers. To the extent permitted under applicable law, and in order to
protect the Confidential Information and preserve the Company’s relationships with its prospects and customers, you agree that for a period of two (2) years after your employment with the Company ends for any reason, you will not directly
or indirectly solicit any business consisting of nutritional supplements or any other product or service of the Company at the time of your termination with any prospect or customer of the Company. 

(c) Non-Competition. You shall not, for a period of one (1) year after your employment with the Company ends for any reason,
engage in, advise or consult with, or accept employment with any company, business or any entity, or contribute your knowledge to any work or activity that involves a product, process, provision of services or distribution channel (network
marketing) as offered by the company, the development and/or sales of nutritional supplements, or any other product or service of the Company which is competitive with and the same as or similar to a product, process, or provision of services or
distribution channel (network marketing) on which you worked or with respect to which you had access to confidential information while with the Company. Following expiration of said one-year period, you shall continue to be obligated under the
confidential provisions of this Agreement and of your proprietary information and inventions agreement not to disclose and/or use confidential information so long as it shall remain proprietary or protectable as confidential or trade secret
information. You acknowledge that this restraint is reasonable as to time and geographic limits and is necessary to protect the Company’s Confidential Information, and that it will not unduly restrict your ability to secure suitable employment
after leaving the Company. 

  
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 (d) Modification By Court. If any court or arbitrator determines that any
post-employment restrictive covenant is unreasonable in any respect, you agree that the Court may modify any unreasonable terms and enforce the agreement as modified. 
 (e) Extension of Non-Compete. For any period of time in which you are found to be in violation of any of the above non-compete or non-solicitation agreements, that period of time shall be added on
to the length of the restriction or period of protection for the Company. 
 (f) Notice to Subsequent Employers. You
agree that the Company may provide notice of your obligations under any provision of this Agreement to any company or future employer of yours should the Company consider it necessary for the enforcement of those obligations. 

15. Covenants. As a condition of this Agreement and to your receipt of any post-employment benefits, you agree that you
will fully and timely comply with all of the covenants set forth in this subsection (which shall survive your termination of employment and termination or expiration of this Agreement): 

(i) You will fully comply with all obligations under the Confidentiality Agreement and further agree that the provisions of the
Confidentiality Agreement shall survive any termination or expiration of this Agreement or termination of your employment or any subsequent service relationship with the Company; 

(ii) Within five (5) days of the Termination Date, you shall return to the Company all Company confidential information including,
but not limited to, intellectual property, etc., and you shall not retain any copies, facsimiles or summaries of any Company proprietary information; 
 (iii) You will not at any time make (or direct anyone to make) any disparaging statements (oral or written) about the Company, or any of its affiliated entities, officers, directors, employees,
stockholders, representatives or agents, or any of the Company’s products or services or work-in-progress, that are harmful to their businesses, business reputations or personal reputations.; 

(iv) You agree that during the period of your employment with the Company and thereafter, you will not utilize any trade secrets of the
Company in order to solicit, either on behalf of yourself or any other person or entity, the business of any client or customer of the Company, whether past, present or prospective. The Company considers the following, without limitation, to be its
trade secrets: Financial information, administrative and business records, analysis, studies, governmental licenses, employee records (including but not limited to counts and goals), prices, discounts, financials, electronic and written files of
Company policies, procedures, training, and forms, written or electronic work product that was authored, developed, edited, reviewed or received from or on behalf of the Company during period of employment, Company developed technology, software, or
computer programs, process manuals, products, business and marketing plans and or projections, Company sales and marketing data, Company 

  
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technical information, Company strategic plans, Company financials, vendor affiliations, proprietary information, technical data, trade secrets, know-how, copyrights, patents, trademarks,
intellectual property, and all documentation related to or including any of the foregoing; and 
 (v) You agree that, upon the
Company’s request and without any payment therefore, you shall reasonably cooperate with the Company (and be available as necessary) after the Termination Date in connection with any matters involving events that occurred during your period of
employment with the Company. 
 (b) You also agree that you will fully and timely comply with all of the covenants set forth in
this subsection (which shall survive your termination of employment and termination or expiration of this Agreement): 
 (i)
You will fully pay off any outstanding amounts owed to the Company no later than their applicable due date or within thirty days of your Termination Date (if no other due date has been previously established); 

(ii) Within five (5) days of the Termination Date, you shall return to the Company all Company property including, but not limited
to, computers, cell phones, pagers, keys, business cards, etc.; 
 (iii) Within thirty (30) days of the Termination Date,
you will submit any outstanding expense reports to the Company on or prior to the Termination Date; and 
 (iv) As of the
Termination Date, you will no longer represent that you are an officer, director or employee of the Company and you will immediately discontinue using your Company mailing address, telephone, facsimile machines, voice mail and e-mail; 

(c) You agree that you will strictly adhere to and obey all Company rules, policies, procedures, regulations and guidelines, including
but not limited to those contained in the Company’s employee handbook, as well any others that the Company may establish including without limitation any policy the Company adopts on the recoupment of compensation (“Clawback Policy”).

 16. Offset. Any severance or other payments or benefits made to you under this Agreement may be reduced, in the
Company’s discretion, by any amounts you owe to the Company provided that any such offsets do not violate Code Section 409A. 
 17. Notice. Any notice that the Company is required to or may desire to give you shall be given by personal delivery, recognized overnight courier service, email, telecopy or registered or
certified mail, return receipt requested, addressed to you at your address of record with the Company, or at such other place as you may from time to time designate in writing. Any notice that you are required or may desire to give to the Company
hereunder shall be given by personal delivery, recognized overnight courier service, email, telecopy or by registered or certified mail, return receipt requested, addressed to the Company’s General Counsel at its principal office, or at such
other office as the Company may from time to time designate in writing. The date of actual delivery of any notice under this Section shall be deemed to be the date of delivery thereof. 

  
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 18. Waiver; Severability. No provision of this Agreement may be amended or
waived unless such amendment or waiver is agreed to by you and the Company in writing and such amendment or waiver expressly references this Section. No waiver by you or the Company of the breach of any condition or provision of this Agreement will
be deemed a waiver of a similar or dissimilar provision or condition at the same or any prior or subsequent time. Except as expressly provided herein to the contrary, failure or delay on the part of either party hereto to enforce any right, power,
or privilege hereunder will not be deemed to constitute a waiver thereof. In the event any portion of this Agreement is determined to be invalid or unenforceable for any reason, the remaining portions shall be unaffected thereby and will remain in
full force and effect to the fullest extent permitted by law. 
 19. Voluntary Agreement. You acknowledge that you
have been advised to review this Agreement with your own legal counsel and other advisors of your choosing and that prior to entering into this Agreement, you have had the opportunity to review this Agreement with your attorney and other advisors
and have not asked (or relied upon) the Company or its counsel to represent you or your counsel in this matter. You further represent that you have carefully read and understand the scope and effect of the provisions of this Agreement and that you
are fully aware of the legal and binding effect of this Agreement. This Agreement is executed voluntarily by you and without any duress or undue influence on the part or behalf of the Company. 

20. Key-Man Insurance. The Company shall have the right to insure your life for the sole benefit of the Company, in such
amounts, and with such terms, as it may determine. All premiums payable thereon shall be the obligation of the Company. You shall have no interest in any such policy, but you agree to cooperate with the Company in taking out such insurance by
submitting to physical examinations, supplying all information required by the insurance company, and executing all necessary documents, provided that no financial obligation is imposed on you by any such documents. 

REMAINDER OF PAGE INTENTIONALLY LEFT BLANK 

  
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 ACKNOWLEDGED AND AGREED: 
 This 1st day of August, 2012. 
  

					
	LIFEVANTAGE CORPORATION	 		 	
			
	/s/ Douglas C. Robinson	 		 	/s/ David Colbert
	BY: Douglas C. Robinson	 		 	David Colbert
	TITLE: President and CEO	 		 	

  
 -12-Sublease dated as of January 26, 2012, between Anworth and PIA

 Exhibit 10.16 
 

 
  
 Exhibit
10.16 
 SUBLEASE 
 This Sublease is made as of the 26th day of January, 2012, by and between PACIFIC INCOME ADVISERS, INC., a Delaware corporation (“Sublandlord”) and ANWORTH MORTGAGE ASSET
CORPORATION, a Maryland corporation (“Subtenant”) with regard to the following facts. 
 RECITALS

 A. Sublandlord is the tenant under that certain Wilshire Palisades Building Office Lease (as amended, the
“Master Lease”), dated as of April 30, 1987 with subsequent seven (7) Amendments, with Tele/TAC Associates, a California limited partnership, original landlord, and EOP-Wilshire Palisades, LLC, a Delaware limited liability
company, successor-in-interest to the original landlord (collectively, “Landlord”) (a copy of which the most recent Lease Amendment, Amendment 7 is attached hereto as Exhibit A and by this reference made a part hereof) concerning
approximately 14,600 rentable square feet of office space (the “Premises”) located on the second (2nd) floor of the building, including Suites 200A, 200B and 200C and located at 1299 Ocean Avenue,, Santa Monica, California.

 B. Subtenant desires to sublease from Sublandlord a portion of the Premises consisting of approximately 7,300
rentable square feet of space (which portion shall be hereafter referred to as the “Subleased Premises”) more particularly set forth on Exhibit B, attached hereto, and Sublandlord has agreed to sublease the Subleased Premises to Subtenant
upon the terms, covenants and conditions herein set forth. 
 AGREEMENT 

In consideration of the mutual covenants contained herein, the sufficiency of which is hereby acknowledged, the parties
hereto agree as follows. 
 1. Sublease. Sublandlord hereby subleases and demises to Subtenant and Subtenant
hereby hires and takes from Sublandlord the Subleased Premises. 
 2. Term. The term of this Sublease shall
commence on July 1, 2012 (the “Commencement Date”) and shall end, unless sooner terminated as provided in the Master Lease, on June 30, 2022. 
 3. Base Rent. Subtenant shall pay Base Rent during the term of this Sublease on a monthly basis in the amount equal to $35,367.80, which amount shall be increased by three percent
(3%) per annum beginning on July 1, 2013, payable monthly in advance on the first day of each month. In the event that the term of this Sublease shall begin or end on a date which is not the first day of a month, base rent shall be
prorated as of such date. 
 4. Operating Expenses. Subtenant will be responsible for paying its proportionate
share of operating expenses as indicated in the master lease and based on a 2013 Base Year and any other costs or obligations incurred by Sublandlord as described in Master Lease. 

 

 
  
 5. Use.
Subtenant covenants and agrees to use the Premises in accordance with the provisions of the Master Lease and for no other purpose and otherwise in accordance with the terms and conditions of the Master Lease and this Sublease. 

6. Master Lease. As applied to this Sublease, the words “Landlord” and “Tenant” as used in the Master
Lease shall be deemed to refer to Sublandlord and Subtenant hereunder, respectively. Subtenant and this Sublease shall be subject in all respects to the terms of, and the rights of the Landlord under, the Master Lease. Except as otherwise expressly
provided in Section 7 hereof, the covenants, agreements, terms, provisions and conditions of the Master Lease insofar as they relate to the Subleased Premises and insofar as they are not inconsistent with the terms of this Sublease are made a
part of and incorporated into this Sublease as if recited herein in full, and the rights and obligations of the Landlord and the Tenant under the Master Lease shall be deemed the rights and obligations of Sublandlord and Subtenant respectively
hereunder and shall be binding upon and inure to the benefit of Sublandlord and Subtenant respectively. As between the parties hereto only, in the event of a conflict between the terms of the Master Lease and the terms of this Sublease, the terms of
this Sublease shall control. 

	 7.
	  
	 Landlord’s Performance Under Master Lease. 

7.1 Subtenant recognizes that Sublandlord is not in a position to render any of the services or to perform any of the
obligations required of Sublandlord by the terms of this Sublease. Therefore, notwithstanding anything to the contrary contained in this Sublease, Subtenant agrees that performance by Sublandlord of its obligations hereunder are conditional upon due
performance by the Landlord of its corresponding obligations under the Master Lease and Sublandlord shall not be liable to Subtenant for any default of the Landlord under the Master Lease. Subtenant shall not have any claim against Sublandlord by
reason of the Landlord’s failure or refusal to comply with any of the provisions of the Master Lease unless such failure or refusal is a result of Sublandlord’s act or failure to act. This Sublease shall remain in full force and effect
notwithstanding the Landlord’s failure or refusal to comply with any such provisions of the Master Lease and Subtenant shall pay the base rent and additional rent and all other charges provided for herein without any abatement, deduction or
setoff whatsoever. Subtenant covenants and warrants that it fully understands and agrees to be subject to and bound by all of the covenants, agreements, terms, provisions and conditions of the Master Lease, except as modified herein. Furthermore,
Subtenant and Sublandlord further covenant not to take any action or do or perform any act or fail to perform any act which would result in the failure or breach of any of the covenants, agreements, terms, provisions or conditions of the Master
Lease on the part of the Tenant thereunder. 
 7.2 Whenever the consent of Landlord shall be required by, or
Landlord shall fail to perform its obligations under, the Master Lease, Sublandlord agrees to use its best efforts to obtain, at Subtenant’s sole cost and expense, such consent and/or performance on behalf of Subtenant. 

7.3 Sublandlord represents and warrants to Subtenant that the Master Lease is in full force and effect, all obligations of
both Landlord and Sublandlord thereunder have been satisfied and Sublessor has neither given nor received a notice of default pursuant to the Master Lease. 

 

 
  
 7.4
Sublandlord covenants as follows: (i) not to voluntarily terminate the Master Lease, (ii) not to modify the Master Lease so as to adversely affect Subtenant’s rights hereunder, and (iii) to take all actions reasonably necessary
to preserve the Master Lease. 
 8. Variations from Master Lease. The following covenants, agreements, terms,
provisions and conditions of the Master Lease are hereby modified or not incorporated herein: 
 8.1
Notwithstanding anything to the contrary set forth in Sections 2 and 3 of the Master Lease, the term of this Sublease and base rent payable under this Sublease and the amount of the Security Deposit required of Subtenant shall be as set forth in
Sections 2 and 3 above. 
 8.2 The parties hereto represent and warrant to each other that neither party dealt
with any broker or finder connection with the consummation of this Sublease and each party agrees to indemnify, hold and save the other party harmless from and against any and all claims for brokerage commissions or finder’s fees arising out of
either of their acts in connection with this Sublease. The provisions of this Section 7.2 shall survive the expiration or earlier termination of this Sublease. 
 8.3 Notwithstanding anything contained in the Master Lease to the contrary, as between Sublandlord and Subtenant only, all insurance proceeds or condemnation awards received by Sublandlord
under the Master Lease shall be deemed to be the property of Sublandlord. 
 8.4 Any notice which mayor shall be
given by either party hereunder shall be either delivered personally or sent by certified mail, return receipt requested, addressed to the party for whom it is intended at the Subleased Premises (if to the Subtenant), or to Premises (if to the
Sublandlord), or to such other address as may have been designated in a notice given in accordance with the provisions of this Section 7.4. 

	 8.5
	  
	 All amounts payable hereunder by Subtenant shall be payable directly to Sublandlord.

	 8.6
	  
	 Sublandlord shall deliver the Subleased Premises to Subtenant in its current “as is” condition.

 8.7 Subtenant shall not be required to remove any improvements located in the Subleased
Premises upon the expiration of the term hereof. 
 9. Indemnity. Subtenant hereby agrees to indemnify and hold
Sublandlord harmless from and against any and all claims, losses and damages, including, without limitation, reasonable attorneys’ fees and disbursements, which may at any time be asserted against Sublandlord by (a) the Landlord for
failure of Subtenant to perform any of the covenants, agreements, terms, provisions or conditions contained in the Master Lease which by reason of the provisions of this Sublease Subtenant is obligated to perform, or (b) any person by reason of
Subtenant’s use and/or occupancy of the Subleased Premises. The provisions of this Section 8 

 

 
  
 shall
survive the expiration or earlier termination of the Master Lease and/or this Sublease, except to the extent any of the foregoing is caused or by the negligence of Sublandlord. 
 10. Cancellation of Master Lease. In the event of the cancellation or termination of the Master Lease for any reason whatsoever or of the involuntary surrender of the Master Lease by
operation of law prior to the expiration date of this Sublease, Subtenant agrees to make full and complete attornment to the Landlord under the Master Lease for the balance of the term of this Sublease and upon the then executory terms hereof at the
option of the Landlord at any time during Subtenant’s occupancy of the Premises, which attornment shall be evidenced by an agreement in form and substance reasonably satisfactory to the Landlord. Subtenant agrees to execute and deliver such an
agreement at any time within ten (10) business days after request of the Landlord, and Subtenant waives the provisions of any law now or hereafter in effect which may give Subtenant any right of election to terminate this Sublease or to
surrender possession of the Subleased Premises in the event any proceeding is brought by the Landlord under the Master Lease to terminate the Master Lease. 
 11. Certificates. Each party hereto shall at any time and from time to time as requested by the other party upon not less than ten (10) days prior written notice, execute, acknowledge
and deliver to the other party, a statement in writing certifying that this Sublease is unmodified and in full force and effect (or if there have been modifications that the same is in full force and effect as modified and stating the modifications,
if any) certifying the dates to which rent and any other charges have been paid and stating whether or not, to the knowledge of the person signing the certificate, that the other party is not in default beyond any applicable grace period provided
herein in performance of any of its obligations under this Sublease, and if so, specifying each such default of which the signer may have knowledge, it being intended that any such statement delivered pursuant hereto may be relied upon by others
with whom the party requesting such certificate may be dealing. 
 12. Assignment or Subletting. Subject further
to all of the rights of the Landlord under the Master Lease and the restrictions contained in the Master Lease, Subtenant shall not be entitled to assign this Sublease or to sublet all or any portion of the Premises without the prior written consent
of Sublandlord, which consent may be withheld by Sublandlord in its sole discretion. 
 13. Severability. If any
term or provision of this Sublease or the application thereof to any person or circumstances shall, to any extent, be invalid and unenforceable, the remainder of this Sublease or the application of such term or provision to persons or circumstances
other than those as to which it is held invalid or unenforceable, shall not be affected thereby and each term or provision of this Sublease shall be valid and be enforced to the fullest extent permitted by law. 

14. Entire Agreement; Waiver. This Sublease contains the entire agreement between the parties hereto and shall be binding
upon and inure to the benefit of their respective heirs, representatives, successors and permitted assigns. Any agreement hereinafter made shall be ineffective to change, modify, waive, release, discharge, terminate or effect an abandonment hereof,
in whole or in part, unless such agreement is in writing and signed by the parties hereto. 

 

 
  
 15.
Captions and Definitions. Captions to the Sections in this Sublease are included for convenience only and are not intended and shall not be deemed to modify or explain any of the terms of this Sublease. 

16. Further Assurances. The parties hereto agree that each of them, upon the request of the other party, shall execute and
deliver, in recordable form if necessary, such further documents, instruments or agreements and shall take such further action that may be necessary or appropriate to effectuate the purposes of this Sublease. 

17. Governing Law. This Sublease shall be governed by and in all respects construed in accordance with the internal laws
of the State of California. 
 IN WITNESS WHEREOF, the parties hereto have caused this Sublease to be executed as
of the day and year first above written. 
 “Sublandlord” 

PACIFIC INCOME ADVISERS, INC., a Delaware corporation 

By: 
 Print Name: Lloyd McAdams 
 Print Title: Chairman,
Chief Investment Officer 
 “Subtenant” 

ANWORTH MORTGAGE ASSET CORPORATION, a Maryland corporation 

By: 
 Print Name: Thad M. Brown 
 Print Title: Chief
Financial Officer

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