Document:

Exhibit 10.60 NSE 2003 Form 10-K Executive Incentive PLan

Nu Skin Enterprises,
Inc.
Amended and Restated 
Executive Incentive
Plan 

I.         Purpose 

	  	
This Amended and Restated Executive Incentive Plan (the “Plan”) is
adopted by Nu Skin Enterprises (the “Company”) to reward its executives through
the payment of cash incentive awards (the “Incentive Awards”) for
outstanding performance related to the accomplishment of strategic objectives and
individual goals. 

II.         Objectives 

	  	
The
objectives of the Plan are to: i) attract, motivate, and retain an executive by
emphasizing pay for performance incentives that provide the opportunity to earn total
compensation competitive with the current market; ii) reward an executive for the
achievement of the Company’s strategic business objectives and goals; iii) promote
teamwork within and across divisions, regions, countries and departments; iv) enhance
operational efficiency; v) generate new revenue while maintaining the current revenue
base; vi) increase operating profit; and vii) motivate the achievement of individual
goals. 

III.         Administration 

	  	
The
Plan shall be administered under the direction of the Compensation Committee. The Plan and
all changes to the Plan are subject to the approval of the Compensation Committee of the
Board of Directors of the Company. 

IV.         Terms of Plan 

      A.    
Eligibility 

          	  	(1)	
               Participants. Executives who are to participate in the Plan shall be
               recommended by the CEO and approved by the Compensation Committee. Attached as
               Schedule I to this Plan is a schedule of the initial participants in the Plan
               (the “Participants”). Schedule I shall be amended from time to
               time to reflect the addition or deletion of Participants. 

               

          	  	(2)	
               Participant Eligibility. To be eligible to receive an Incentive Award
               under this Plan, a Participant must, unless otherwise approved by the
               Compensation Committee: 

               

	a.     	       
   be
employed at the time of the payment of Incentive Award;  

     	b.     	
           be actively employed (not on a leave-of-absence) by the Company or its
          affiliates for a minimum of six weeks during the applicable Incentive Period. In
          the event a Participant is not actively employed during the entire Incentive
          Period, the Incentive Award for such Incentive Period will be prorated based on
          the number of days the executive was actively employed during the Incentive
          Period divided by the total number of days in the Incentive Period. 

          

      B.    
Effective Date 

	  	
The
effective date of the Plan is January 1, 2004. The Plan shall remain in effect until
terminated by the Compensation Committee. This Plan supercedes the Executive Incentive
Plan adopted July 1, 2001, and all subsequent amendments thereto. 

      C.    
Modifications 

	  	
The
Plan can be terminated or modified by the Compensation Committee at any time. The Company
shall provide written notification of any such termination or modification to all
Participants. 

      D.    
Incentive Periods 

          	 	(1)	
               Semi-Annual Incentive Periods. The Plan shall have two six-month
               incentive periods (the “Semi-Annual  Incentive Periods”)
               each year commencing on January 1st and July 1st, respectively. 

               

          	 	(2)	
                Quarterly Incentive Periods. In addition, the Plan shall have four
               quarterly incentive periods (the “Quarterly Incentive Periods”)
               commencing on the first day of each of the Company’s fiscal quarters. The
               Semi Annual Incentive Periods and the Quarterly Incentive Periods are
               collectively referred to as the “Incentive Periods,” and
               individually as an “Incentive Period.” 

               

      E.    
Incentive Targets 

          	 	(1)	
               Critical Success Factors. Operating profit and revenue shall be the
               critical success factors used to determine whether an Incentive Award shall be
               paid for an Incentive Period and the amount of any such Incentive Awards to be
               paid to a Participant under the Plan. 

               

          	 	(2)	
               Establishment of Incentive Targets. An operating profit target (the
               “OP Target”) and a revenue target (the “Rev
               Target”) shall be established for each Incentive Period. The targets
               established under this Plan for purposes of determining the achievement of
               Incentive Awards are referred to in this Plan as the “Targets.”
               Targets shall be established for the Company on a consolidated basis. In
               addition, the Compensation Committee may approve the adoption of Targets for
               specified Participants based on revenue or operating profit for any region or
               division. In the event Targets are established for a region, they shall be
               determined by taking the sum of the Targets for each of the countries in such
               region except as otherwise provided by this Plan. The Compensation Committee
               must approve all Targets for each Incentive Period. 

               

          	 	(3)	
               New Markets. Typically, a newly opened market will be treated outside
               this Plan in determining regional or country specific targets and results due to
               the uncertainty and volatility associated with the new market. Incentives for
               new markets will be determined by the CEO and the CFO and approved by the
               Compensation Committee, including the appropriate time for the new market to be
               included in the regional or country calculation for the Plan. 

               

          	 	(4)	
               Calculation of Revenue and Operating Profit. For purposes of determining
               the achievement and amount of the Incentive Awards under this Plan, actual
               revenue and operating profit shall be the actual consolidated revenue and
               operating profit during the Incentive Period determined in accordance with GAAP,
               subject to the following exceptions: In translating local currency amounts to US
               dollars, the exchange rates used to establish the Targets shall be used in place
               of the weighted average exchange rates required by GAAP in order to eliminate
               the effect of foreign currency fluctuations. In the event Targets for a region
               are established, actual revenue and operating profit shall be determined by
               taking the sum of the revenue and operating profit for each of the countries in
               such region determined in accordance with GAAP with the same exception as set
               forth above to eliminate the impact of foreign currency fluctuations. The
               definition of operating profit may vary from region to region and will be
               defined by the CEO and the CFO. Subject to the approval of the Compensation
               Committee, adjustments can be made at any time to the method for calculating
               operating profit for purposes of this Plan by the CEO and CFO, to eliminate
               one-time charges, adjust for changes in transfer pricing, adjust for unjustified
               differences between operating expenditures and budgeted expenditures, and to
               adjust for any other factors that the CEO and CFO determine to be relevant. 

               

      F.    
Incentive Award Thresholds 

          	 	(1)	
                Operating Profit Threshold. In the event that the actual operating
               profit for the Company is less than 90% of the OP Target for the applicable
               Incentive Period, no Incentive Award shall be paid to any Participant for such
               Incentive Period; provided, however, if a Participant has a regional OP Target,
               the portion of the Incentive Award for based on regional Targets may still be
               paid to such Participant if actual operating profit for such region is equal to
               or greater than 90% of the OP Target for such region. 

               

          	 	(2)	
               Other Thresholds. In the event actual performance is less than 90% of a
               specified Target for a Participant in any given Incentive Period, the portion of
               the Incentive Award tied to such Target shall not be paid for such Incentive
               Period, but this shall not affect the payment of the portion of the Incentive
               Award tied to other Targets in which performance is equal to or greater than 90%
               of the applicable Target except as provide in Paragraph (1) above; provided,
               however, that Participants who have regional OP Targets shall not be paid any
               portion of the Incentive Award based on regional Targets if the operating profit
               for the region is less than 90% of the applicable OP Target for the region. 

               

          	 	(3)	
               Performance Rating Threshold. A Participant must also be performing at a
               “competent” performance level as determined in accordance with the
               Company’s annual and semi-annual performance evaluations. 

               

      G.    
Incentive Awards 

          	 	(1)	
               Incentive Awards. In the event the relevant operating profit threshold
               has been satisfied, the total Incentive Award for a Participant for any
               Incentive Period shall be determined by multiplying the Participant’s Base
               Salary, as in effect on the date the final Incentive Award is calculated, by the
               sum of all of the Adjusted Bonus Percentages applicable for such Incentive
               Period with respect to the Targets where the required performance thresholds
               have been met. 

               

          	 	(2)	
                Bonus Percentages. Each Participant shall be assigned a specific Bonus
               Percentage for each Target for each Incentive Period. A schedule of the Targets
               and Bonus Factors shall be delivered to each Participant. Assigned Bonus
               Percentages shall be adjusted (the “Adjusted Bonus
               Percentages”) as set forth in Paragraphs (3) and (4) below for each
               Incentive Period based on actual performance in such Incentive Period. 

               

          	 	(3) 	
                Downward Adjustment of Bonus Percentages. In the event that actual
               performance is less than the specified Target, the Bonus Percentage for such
               Target for such Incentive Period shall be adjusted downward linearly in
               accordance with the following formula: 

               

Initial Bonus Percentage * [1.0 -(5*
(Actual Performance/Target))] 

	  	
The
formula results in 50% of the portion of the incentive award being paid to the executive
at the threshold level (90% of Target), with the Incentive Award increasing linearly from
the threshold level up to 100% of the Target, at which point 100% of that portion of the
incentive award being achieved and paid. 

          	 	(4)	
               Upward Adjustment of Bonus Percentages. In the event that actual
               performance is greater than the specified Target, the Bonus Percentage for such
               Target for such Incentive Period shall be increased by in accordance with the
               following formula: 

               

Bonus Percentage * [1+ (Bonus
Multiplier *({Actual Performance-Target}/Target))] 

	  	
The
Bonus Multiplier(s) shall be established for each Participant. A different Bonus
Multiplier may be adopted for higher performance. If two or more Bonus Multipliers are
established for a Participant, then the Bonus Percentage shall be adjusted by applying
each Bonus Multiplier to that portion of the percentage increase applicable to such Base
Multiplier. For example, in the event the Bonus Multiplier is 5 for performance from 0 to
5% above target, and 10 for performance greater than 5% above target, and actual
performance is 9% above target, then the Bonus Percentage would be multiplied by 1.65 (1
plus the sum of (.05* 5) plus (.04 *10). In the absence of a designation of a Bonus
Multiplier for a Participant, the Bonus Multiplier shall be 5, which is equal to the
factor used to adjust the Bonus Percentage downward if a Target is not achieved. 

          	  	(5)	
               Reduction of Incentive Award. In addition to the Targets, individual
               performance goals for each Participant shall also be established for each
               semi-annual incentive period. The goals for each Participant shall be
               established by his or her supervisor. The goals are intended to focus on
               aligning the Participant’s activities with the strategic objectives and
               priorities of the Company, the region, the country and/or the division. Some
               individual goals may stretch for periods longer than the period under review.
               Performance levels for individual goals shall be determined based on evaluation
               by the supervisor of the Participant as approved by the CEO. In the event a
               Participant fails to meet any of his or her performance goals, the Incentive
               Awards otherwise payable under this Plan for such Incentive Period shall be
               reduced by 25%. 

               

          	  	(6)	
              Nu Skin
shall pay any Incentive awards within such time frames as established           and
approved by the Compensation Committee, which shall generally be within 60           days
of the close of each quarter. Incentive Awards shall be paid net of           applicable
State and/or Federal tax withholdings.  

               

      H.    
Targeted Bonus Levels 

	  	
The
Plan is intended to provide Participant’s with annual aggregate bonuses equal to a
set percentage of base salary if actual performance is equal to targeted performance. This
aggregate Bonus Percentages assigned to a Participant is based upon the Participant’s
scope of job responsibility and the position’s ability to impact the Company’s
overall financial performance. The following are guidelines for the aggregate annual Bonus
Percentages, prior to the upward and downward adjustments required by the Plan based on
performance, for each executive group: 

		
	60% of salary
 
 	 	Chairman, CEO, CFO, Senior Vice Presidents, Members of the Executive Committee	 
	50% of salary
 
 
	 	CAO, CIO, CLO, Division Presidents, Regional Vice Presidents, US General Manager	 
	30% - 40% of salary
 
 
	 	Country Vice Presidents, Division Vice Presidents, Other Vice Presidents	 

Nu Skin Enterprises,
Inc.
Amended and Restated 

Executive Incentive
Plan 

Schedule I
List of
Participants 

Blake
Roney – Chairman

Brooke Roney – Sr. Vice President

Sandie Tillotson
– Sr. Vice President

Truman Hunt – CEO and President

Ritch
Wood – CFO

Corey
Lindley – Regional Vice President and President, Greater China

 Robert Conlee –
Regional Vice President, North Asia 

Joe Chang – President, Pharmanex Division 

Lori
Bush – President, Nu Skin Division 

Larry Macfarlane – President, Big Planet
Division 

Mark Wolfert – Regional Vice President, Americas and Europe

 Mike Smith
– Regional Vice President, Southeast Asia and Pacific

 Mark Adams – CAO

 Matt
Dorny – General Counsel 

Richard King – CIO 

Scott Schwerdt – General
Manager, United States

 Gary Garrett – Vice President, Administration

 Brad Morris
– Vice President, Distribution

 Sid Henderson – Vice President, Materials
Management 

Claire Averett – Vice President, Human Resources

 Jodi Durrant – Vice
President, Events and Recognition

 Charlie Allen – Vice President, Communications 

Rob
Young – Vice President, Pharmanex Marketing 

Jack Peterson – Vice President,
Pharmanex

 Carsten Schmidt – Vice President, Pharmanex Development

 Bart Mangum –
Vice President, Nu Skin Operations

 Joe Ford – Vice President, Americas and Europe

Elizabeth Thibadeau – Vice President, Nu Skin Marketing

 Luis Cerqueria – Vice
President, Pharmanex Operations 

John Fralick – Vice President, IT Development

 Jim
Frary – Vice President , IT Operations and Infrastructure 

Brent Ririe – Vice
President, IT Legacy Systems 

Brian Lords – Vice President, Treasurer 

Chris Nielson
– Vice President, Controller 

Dane Van Pelt – Vice President, Tax 

Keith Howe
– Vice President, Internal Audit 

Brett Nelson – Vice President, US market 

Dan
Chard – Vice President, Big Planet

 Alex Treharne – Vice President, North Asia

Rich Hartvigsen – Vice President, Regulatory Affairs 
Owen Messick – Vice
President, Greater China, FinanceExhibit 10.61 NSE 2003 Form 10-K Contingent Stock Award Agreement

Contingent Stock Award
Agreement 

THIS AGREEMENT is entered into
effective as of January 17, 2003 by and between Nu Skin Enterprises, Inc., a Delaware
corporation, and M. Truman Hunt ("Employee"). 

     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
          Employee shall mean the
employee identified in the first paragraph of this Agreement. 

            1.9
          Forfeiture Event shall have
the meaning set forth in Section 6. 

            1.10
      
Key Employee Covenants shall mean the Key Employment Covenants entered into by Employee in
the form attached hereto as Exhibit A, as they may be amended from time to time by mutual
written agreement. 

            1.11
         Plan shall mean the
Corporation's Second Amended and Restated 1996 Stock Incentive Plan. 

            1.12
           Vesting Period shall have
the meaning set forth in Section 2.1. 

     2.    
          Grant of Contingent Stock Award. 

1 

        2.1    
Grant of Stock Award. The Corporation hereby grants to Employee the right to receive
250,000 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 Employee remains in the continuous employment 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

	January 1, 2004	 	62,500	 
	January 1, 2005	 	62,500	 
	January 1, 2006	 	62,500	 
	January 1, 2007	 	62,500	 

In the event of a change in voting
control of the Company, all outstanding Award Shares shall be considered vested
immediately prior to the announcement of any such transaction. The foregoing shall be in
addition to any rights set forth in the Plan 

        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 Employee if Employee has remained in the
continuous employment of the Corporation during the Vesting Period with respect to such
Award Shares or if Employee or Employee’s personal representative is otherwise
entitled to Award Shares pursuant to Sections 5.2 (in which event a certificate for the
number of Award Shares required to be issued pursuant to Section 5.2 shall be issued). 

        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 Employee shall have no rights (including voting, dividend and liquidation
rights) with respect to the Award Shares or as a stockholder. 

2 

     3.        
          Securities Law Compliance. Employee represents that Employee is familiar with
          the Company’s filings with the SEC and has received a copy of the
          prospectus. Employee hereby acknowledges that Employee 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. Employee hereby acknowledges
          no representations or statements have been made to Employee concerning the value
          or potential value of the Common Stock. Employee acknowledges that Employee has
          relied only on information contained in the Prospectus and has received no
          representations, written or oral, from the Corporation or its employees,
          attorneys or agents, other than those contained in the Prospectus or this
          Agreement. Employee acknowledges that the Company has made no representations
          concerning the tax and other effects of this Contingent Stock Award and Employee
          represents that Employee has consulted with Employee’s own tax and other
          advisors concerning the tax and other effects of the Contingent Stock Award. 

     4.        
          Transfer Restrictions. Employee 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 of Employment. 

        5.1    
Termination of Employment. In the event the employment of Employee is terminated for any
reason other than the death or long-term disability of Employee 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
Employee shall not receive any of such Award Shares. 

        5.2    
Death and Disability. Subject to Section 6 below, in the event the employment of Employee
is terminated as a result of death or long-term disability prior to the full vesting of
the Contingent Stock Award, then a portion of the Award Shares that would otherwise become
vested on the next Vesting Dated shall be treated as vested and shall be issued following
the next Vesting Date to Employee or his/her legal representative. The number of Award
Shares to be treated as vested shall be equal to the product of (A) the total number of
Award Shares scheduled to vest on the next Vesting Date multiplied by (B) a fraction, the
numerator of which is the number of days that have elapsed from the date of the previous
Vesting Date through the date of death or disability, and the denominator of which is 365,
rounded down to the nearest whole share. Certificates for any Award Shares treated as
vested shall be issued following the next Vesting Date in accordance with Section 2.2. All
rights to the remaining Award Shares that are not treated as vested shall terminate in
full upon the date of death or long-term disability, and neither Employee nor
Employee’s legal representative shall have any rights with respect to such shares.
For purposes of Section 5.2 and Section 5.1, the term “long-term disability”
means any  

3 

 long-term disability that qualifies Employee to receive long-term disability
payments from the Corporation’s governing long-term disability plan. 

     6.        
          Forfeiture. If at anytime during Employee’s employment or at any time
          during the 12 month period following termination of Employee’s employment,
          a Forfeiture Event occurs, then Employee shall return to the Corporation for
          cancellation all Award Shares held by Employee plus pay the Corporation the
          amount of any proceeds received from (i) the sale of any Award Shares during the
          12 month period immediately preceding the Forfeiture Event, and (ii) the sale of
          any Award Shares on the date of or at anytime after such Forfeiture Event.
          “Forfeiture Event” means the following: (i) conduct related to
          Employee’s employment for which either criminal or civil penalties may be
          sought, (ii) the commission of an act of fraud or intentional misrepresentation,
          (iii) embezzlement or misappropriation or conversion of assets or opportunities
          of the Corporation, (iv) any breach of the non-competition or non-solicitation
          provisions of the Key Employee Covenants, (v) disclosing or misusing any
          confidential or proprietary information of the Corporation in violation of the
          Key Employee Covenants, or any other non-disclosure agreement with the
          Corporation or other duty of confidentiality or the Corporation’s insider
          trading policy, or (vi) any other material breach of the Key Employee Covenants.
          The Committee, in its sole discretion, may waive at any time in writing this
          forfeiture provision and release Employee from liability hereunder. 

     7.        
          Governing Plan Document. This Agreement incorporates by reference all of the
          terms and conditions of the Plan as presently existing and as hereafter amended.
          Employee expressly acknowledges and agrees that the terms and provisions of this
          Agreement are subject in all respects to the provisions of the Plan. Employee
          also hereby expressly acknowledges, agrees and represents as follows: 

                 (a)    
          Acknowledges receipt of a copy of the Plan and represents that Employee is
          familiar with the provisions of the Plan, and that Employee 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 Employee and upon all persons at any time claiming any interest
          through Employee 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
          Employee from the requirements of Section 16(b) of the Exchange Act and any
          rules or regulations promulgated thereunder, and that Employee (to the extent
          Section 16(b) applies to Employee) shall not be exempt from such requirements
          pursuant to Rule 16b-3 unless and until Employee shall comply with all
          applicable requirements of Rule 16b-3, including without limitation, the
          possible requirement that Employee 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 Employee and the date upon which Employee desires to sell
          or otherwise dispose of any share of Common Stock acquired

4 

      under this award. 

     8.        
          Representations And Warranties. As a condition to the receipt of any Award
          Shares upon vesting, the Corporation may require Employee 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. 

     9.        
          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. 

     10.        
          Taxes. Employee authorizes the Corporation to withhold, in accordance with
          applicable laws and regulations, from any compensation or other payment payable
          to Employee, all federal, state and other taxes attributable to taxable income
          realized by Employee as a result of the grant of this Contingent Stock Award or
          the vesting of any Award Shares. As a condition to the issuance of any Award
          Shares upon vesting, Employee shall remit to the Corporation the amount of cash
          necessary to pay any withholding taxes associated therewith or make other
          arrangements acceptable to the Corporation, in the Corporation’s sole
          discretion, for the payment of any withholding taxes. 

     11.        
          General Provisions. 

        11.1    
     Assignment. Employee may
not assign any of his/her rights under this Agreement. 

        11.2    
No Employment or Service Contract. Nothing in this Agreement or in the Plan shall confer
upon Employee any right to continue in the employment or service of the Corporation for
any period of specific duration or interfere with or otherwise restrict in any way the
rights of the Corporation, which rights are hereby expressly reserved, to terminate
Employee’s employment or service at any time for any reason, with or without cause
except as may otherwise be provided pursuant to a separate written employment agreement. 

        11.3    
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. 

        11.4    
No Waiver. The failure of the Corporation in any instance to exercise any rights under
this Agreement, including the forfeiture rights under Section 6, 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 Employee. No waiver of any
breach or 

5 

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. 

     12.        
          Miscellaneous Provisions. 

        12.1    
Employee Undertaking. Employee 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 Employee or the Award Shares pursuant to the provisions of this Agreement. 

        12.2    
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. 

        12.3    
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). 

        12.4    
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. 

        12.5    
Successors and Assigns. The provisions of this Agreement shall inure to the benefit of,
and be binding upon, the Corporation and its successors and assigns and upon Employee,
Employee’s permitted assigns and the legal representatives, heirs and legatees of
Employee’s estate, whether or not any such person shall have become a party to this
Agreement and have agreed in writing to join herein and be bound by the terms hereof.
Employee may not assign this Agreement other than by the laws of decent and distribution. 

6 

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

Nu
Skin Enterprises, Inc. 

/s/  D. Matthew Dorny

By:    D. Matthew Dorny

Title:    Vice President

Employee

/s/  M. Truman Hunt

Name:    M. Truman Hunt

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00062-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00062-of-00352.parquet"}]]