Document:

Exhibit 10.54 to NSE FORM 10-K 2005  Contingent Stock Award Agreement

CONTINGENT STOCK AWARD
AGREEMENT 

(Director Award) 

        THIS
AGREEMENT is entered into effective as of ____________ by and between Nu Skin Enterprises,
Inc., a Delaware corporation, and 

_______________
(“Director”). 

     1.    
          Definitions. All capitalized terms in this Agreement shall have the
          meaning assigned to them in this Agreement. 

	            1.1  	  	Agreement
shall mean this Contingent Stock Award Agreement. 

	            1.2  	  	Award
Shares shall have the meaning assigned to such term in Section 2.1. 

	            1.3  	  	Code
shall mean the Internal Revenue Code of 1986, as amended. 

	            1.4  	  	Committee
shall mean the committee of the Board of Directors that administers the Plan. 

	            1.5  	  	Common
Stock shall mean the Class A Common Stock of Nu Skin Enterprises, Inc. 

	            1.6  	  	Contingent
Stock Award shall mean the contingent stock award represented by this Agreement. 

	            1.7  	  	Corporation
shall mean Nu Skin Enterprises, Inc. and each of its Subsidiaries (as defined in the
Plan). 

	            1.8  	  	Director
shall mean the Director identified in the first paragraph of this Agreement. 

	            1.9  	  	Plan
shall mean the Corporation's Second Amended and Restated 1996 Stock Incentive Plan. 

	            1.10  	  	Vesting
Period shall have the meaning set forth in Section 2.1. 

     2.    
          Grant of Contingent Stock Award. 

        2.1
Grant of Stock Award. The Corporation hereby grants to Director the right to
receive 2,500 shares of Common Stock (the “Award Shares”). The Award Shares
shall vest on the following dates (the “Vesting Dates”) and in the following
amounts provided that Director remains serving as a director of the Corporation during the
period commencing on the date of this Agreement and ending on each of the respective
Vesting Dates (the “Vesting Period”) except as otherwise provided in Section 5: 

      Date
Number of Award Shares  

            Six months from Grant                                       1,250

            Day Prior to Annual Meeting                                             1,250

        2.2
Delivery of Certificates. Within a reasonable time following each Vesting Date, the
Corporation shall issue and deliver a certificate or certificates for the Award Shares
that vested on such Vesting Date in the name of Director if Director has remained a
director of the Corporation during the Vesting Period with respect to such Award Shares. 

        2.3
Stockholder Rights. Until such time as a certificate for the Award Shares is
actually issued following the Vesting Date, the Award Shares shall not be treated as
issued and outstanding and Director shall have no rights (including voting, dividend and
liquidation rights) with respect to the Award Shares or as a stockholder. 

     3.    
          Securities Law Compliance. Director represents that Director is familiar
          with the Company’s filings with the SEC and has received a copy of the
          prospectus. Director hereby acknowledges that Director is aware of the risks
          associated with the Award Shares and that there can be no assurance the price of
          the Common Stock will not decrease in the future. Director hereby acknowledges
          no representations or statements have been made to Director concerning the value
          or potential value of the Common Stock. Director acknowledges that Director has
          relied only on information contained in the Prospectus and has received no
          representations, written or oral, from the Corporation or its Directors,
          attorneys or agents, other than those contained in the Prospectus or this
          Agreement. Director acknowledges that the Company has made no representations
          concerning the tax and other effects of this Contingent Stock Award and Director
          represents that Director has consulted with Director’s own tax and other
          advisors concerning the tax and other effects of the Contingent Stock Award. 

     4.    
          Transfer Restrictions. Director shall not transfer, sell, assign,
          encumber, pledge, grant a security interest in or otherwise dispose of this
          Contingent Stock Award, any rights under this Agreement, or any of the Award
          Shares that are subject to this Contingent Stock Award. Any such transfer, sale,
          assignment, encumbrance, pledge, security interest or disposition shall be void
          and shall result in the automatic termination of this Contingent Stock Award and
          this Agreement. The restrictions on the Award Shares set forth in this Section 4
          shall terminate upon receipt of a certificate for such shares following the
          vesting of such shares in accordance with the vesting schedule set forth in
          Section 2.1. 

     5.    
          Termination. 

        5.1
Termination of Service as Director. In the event the Director ceases to serve as a
director for any reason prior to the full vesting of the Contingent Stock Award, the
Contingent Stock Award granted hereunder shall immediately terminate in full with respect
to any Award Shares which have not vested and Director shall not receive any of such Award
Shares. 

     6.    
          Governing Plan Document. This Agreement incorporates by reference all of
          the terms and conditions of the Plan as presently existing and as hereafter
          amended. Director expressly acknowledges and agrees that the terms and
          provisions of this Agreement are subject in all respects to the provisions of
          the Plan. Director also hereby expressly acknowledges, agrees and represents as
          follows: 

     (a)    
          Acknowledges receipt of a copy of the Plan and represents that Director is
          familiar with the provisions of the Plan, and that Director enters into this
          Agreement subject to all of the provisions of the Plan. 

     (b)    
          Recognizes that the Committee has been granted complete authority to administer
          the Plan in its sole discretion, and agrees to accept all decisions related to
          the Plan and all interpretations of the Plan made by the Committee as final and
          conclusive upon Director and upon all persons at any time claiming any interest
          through Director in this Contingent Stock Award or any Award Shares granted
          hereunder. 

     (c)    
          Acknowledges and understands that the establishment of the Plan and the
          existence of this Agreement are not sufficient, in and of themselves, to exempt
          Director from the requirements of Section 16(b) of the Exchange Act and any
          rules or regulations promulgated thereunder, and that Director (to the extent
          Section 16(b) applies to Director) shall not be exempt from such requirements
          pursuant to Rule 16b-3 unless and until Director shall comply with all
          applicable requirements of Rule 16b-3, including without limitation, the
          possible requirement that Director must not sell or otherwise dispose of any
          share of Common Stock acquired hereby unless and until a period of at least six
          months shall have elapsed between the date upon which such Contingent Stock
          Award was granted to Director and the date upon which Director desires to sell
          or otherwise dispose of any share of Common Stock acquired under this award. 

     7.    
          Representations And Warranties. As a condition to the receipt of any
          Award Shares upon vesting, the Corporation may require Director to make any
          representations and warranties to the Corporation that legal counsel to the
          Corporation may determine to be required or advisable under any applicable law
          or regulation, including without limitation, representations and warranties that
          the shares of Common Stock are being acquired only for investment and without
          any present intention or view to sell or distribute any such shares. 

     8.    
          Compliance With Law And Regulations. The obligations of the Corporation
          hereunder are subject to all applicable federal and state laws and to the rules,
          regulations and other requirements of the Securities and Exchange Commission,
          any stock exchange upon which the Common Stock is then listed and any other
          government or regulatory agency. 

     9.    
          Taxes.  As a condition to the issuance of any Award Shares
          upon vesting, Director shall remit to the Corporation the amount of cash
          necessary to pay any withholding taxes associated therewith, if any, or make
          other arrangements acceptable to the Corporation, in the Corporation’s sole
          discretion, for the payment of any withholding taxes. 

     10.    
          General Provisions. 

        
   10.1        Assignment. Director may not assign any of his/her rights under this Agreement.

        
            10.2        No Service Contract.  Nothing in this Agreement or in the Plan shall confer upon Director any right to continue in the service of
the Corporation for any period of specific duration.

        10.3
Notices. Any notice required to be given under this Agreement shall be in writing
and shall be deemed effective upon personal delivery or upon deposit in the U.S. mail,
registered or certified, postage prepaid and properly addressed to the party entitled to
such notice at the address indicated below such party’s signature line on this
Agreement or at such other address as such party may designate by ten (10) days advance
written notice under this section to all other parties to this Agreement. 

        10.4
No Waiver. The failure of the Corporation in any instance to exercise any rights
under this Agreement,, shall not constitute a waiver of any other rights that may
subsequently arise under the provisions of this Agreement or any other agreement between
the Corporation and Director. No waiver of any breach or condition of this Agreement shall
be deemed to be a waiver of any other or subsequent breach or condition, whether of like
or different nature. 

11. Miscellaneous
Provisions. 

        11.1
Director Undertaking. Director hereby agrees to take whatever additional action and
execute whatever additional documents the Corporation may deem necessary or advisable in
order to carry out or effect one or more of the obligations or restrictions imposed on
either Director or the Award Shares pursuant to the provisions of this Agreement. 

        11.2
Agreement is Entire Contract. This Agreement constitutes the entire contract
between the parties hereto with regard to the subject matter hereof. This Agreement is
made pursuant to the provisions of the Plan and shall in all respects be construed in
conformity with the terms of the Plan. 

        11.3
Governing Law. This Agreement shall be governed by, and construed in accordance
with, the laws of the State of Utah without resort to that State’s conflict-of-laws
rules. In the event of any legal proceeding involving this Agreement, the prevailing party
shall be entitled to recover its legal fees and expenses (including reasonable
attorneys’ fees). 

        11.4
Counterparts. This Agreement may be executed in counterparts, each of which shall
be deemed to be an original, but all of which together shall constitute one and the same
instrument. 

        IN
WITNESS WHEREOF, the parties have executed this Agreement on the day and year first
indicated above. 

      Nu
Skin Enterprises, Inc. 

      By:
______________________________ 

      Title:
______________________________ 

Director 

     _________________ 

Name: 

Address:Exhibit 10.55 to NSE FORM 10-K Non-Management Director Compensation

NON-MANAGEMENT DIRECTOR
COMPENSATION 

It is currently the Company's policy
to compensate non-management members of its Board of Directors as follows: 

	1.  	  	Annual
Retainers: 

	   	  	$35,000 for
Board service

	   	  	$10,000 for
service as Lead Independent Director

	  	  	$15,000  for
Audit Committee Chair

	   	  	$10,000 for
Compensation Committee Chair and Nominating/Corporate Governance Committee Chair

	2. 	  	 Meeting
Attendance:  

	   	  	$1,500 per
Board meeting attended

	  	  	$1,500 per
committee meeting attended

	  	  	$1,000  per
committee meeting attended by chairperson (in addition to $1,500 above)  

	3.  	  	Stock: 

	   	  	2,500 contingent stock
award upon election to the Board that vest in two equal annual installments provided the director remains serving as a director as follows:  

six months from grant        1,250
day prior to annual meeting       1,250

	   	  	10,000 option
grant per year (vests on the day before the next annual stockholders’ meeting)

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