Document:

Preferred Membership Unit Purchase Agreement

 Exhibit 10.15 
 VISALUS HOLDINGS, LLC 
 Preferred 

Membership Unit Purchase Agreement 

 TABLE OF CONTENTS 

 

							
	 	    	 	  	Page	 
		
	 Article 1 Authorization and Sale of Units and Commitment of Purchaser
	  	 	1	  
			
	 1.1
	    	 Authorization of the Units
	  	 	1	  
	 1.2
	    	 Sale of the Units
	  	 	1	  
		
	 Article 2 Closing Date; Delivery; Preferred Unit Terms
	  	 	2	  
			
	 2.1
	    	 Closing Date
	  	 	2	  
	 2.2
	    	 Payment of Purchase Price
	  	 	2	  
		
	 Article 3 Representations and Warranties of the Company
	  	 	2	  
			
	 3.1
	    	 Organization and Standing; Certificate of Formation and Operating Agreement
	  	 	2	  
	 3.2
	    	 Subsidiaries
	  	 	2	  
	 3.3
	    	 Capitalization
	  	 	2	  
	 3.4
	    	 Authorization
	  	 	4	  
	 3.5
	    	 Litigation
	  	 	4	  
	 3.6
	    	 Consents
	  	 	4	  
	 3.7
	    	 Title to Properties; Liens and Encumbrances
	  	 	4	  
	 3.8
	    	 Proprietary Information and Other Rights
	  	 	5	  
	 3.9
	    	 Offering
	  	 	5	  
	 3.10
	    	 Compliance with Other Instruments
	  	 	5	  
	 3.11
	    	 Employees
	  	 	6	  
	 3.12
	    	 Registration Rights
	  	 	6	  
	 3.13
	    	 Disclosure; No undisclosed Liabilities
	  	 	6	  
	 3.14
	    	 ERISA Plans
	  	 	6	  
	 3.15
	    	 Tax Elections
	  	 	6	  
	 3.16
	    	 Compliance with Laws; Permits
	  	 	6	  
	 3.17
	    	 Related Party Matters
	  	 	7	  
		
	 Article 4 Representations and Warranties of the Purchaser
	  	 	8	  
			
	 4.1
	    	 No Registration
	  	 	8	  
	 4.2
	    	 Investment Experience
	  	 	8	  
	 4.3
	    	 Suitability Requirements
	  	 	8	  
	 4.4
	    	 Access to Information
	  	 	9	  
	 4.5
	    	 Investment
	  	 	9	  
	 4.6
	    	 Authorization
	  	 	9	  
	 4.7
	    	 Tax Advisors
	  	 	10	  
	 4.8
	    	 Investor Counsel
	  	 	10	  
	 4.9
	    	 Resale Under Rule 144
	  	 	10	  
	 4.10
	    	 Residency
	  	 	10	  

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	    	 	  	Page	 
			
	 4.11
	    	 Disclosure of Information
	  	 	10	  
		
	 Article 5 Conditions to Closing of the Purchaser
	  	 	11	  
			
	 5.1
	    	 Representations and Warranties Correct
	  	 	11	  
	 5.2
	    	 Performance
	  	 	11	  
	 5.3
	    	 Compliance Certificate
	  	 	11	  
	 5.4
	    	 Good Standing Certificate; No Changes in Governing Documents
	  	 	11	  
	 5.5
	    	 Authorizations
	  	 	11	  
	 5.6
	    	 No Material Adverse Change
	  	 	11	  
	 5.7
	    	 Minimum Closing
	  	 	11	  
	 5.8
	    	 Reservation of Conversion Units
	  	 	11	  
	 5.9
	    	 Transaction Documents
	  	 	11	  
	 5.10
	    	 Completion of Certain Transactions
	  	 	12	  
	 5.11
	    	 Payoff Letters
	  	 	12	  
	 5.12
	    	 Due Diligence
	  	 	12	  
		
	 Article 6 Conditions to Closing of the Company
	  	 	12	  
			
	 6.1
	    	 Representations
	  	 	12	  
	 6.2
	    	 Payment of Purchase Price
	  	 	12	  
	 6.3
	    	 Transaction Documents
	  	 	12	  
		
	 Article 7 Affirmative Covenants of the Company and RAM
	  	 	12	  
			
	 7.1
	    	 Normal Course
	  	 	12	  
	 7.2
	    	 Provision of Due Diligence Materials
	  	 	13	  
	 7.3
	    	 Vesting of Common Units
	  	 	13	  
	 7.4
	    	 Use of Proceeds
	  	 	13	  
	 7.5
	    	 Insurance
	  	 	13	  
	 7.6
	    	 Controller
	  	 	13	  
	 7.7
	    	 Audit
	  	 	13	  
	 7.8
	    	 Compliance with Laws
	  	 	13	  
	 7.9
	    	 Efforts to Satisfy Conditions
	  	 	13	  
		
	 Article 8 Indemnification
	  	 	14	  
			
	 8.1
	    	 Indemnification
	  	 	14	  
	 8.2
	    	 Non-Exclusive Remedy
	  	 	14	  
	 8.3
	    	 Conditions of Indemnification
	  	 	14	  
		
	 Article 9 Miscellaneous
	  	 	15	  
			
	 9.1
	    	 Governing Law
	  	 	15	  
	 9.2
	    	 Successors and Assigns
	  	 	15	  
	 9.3
	    	 Modifications
	  	 	15	  

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	    	 	  	Page	 
			
	 9.4
	    	 Notices
	  	 	15	  
	 9.5
	    	 Delays or Omissions
	  	 	16	  
	 9.6
	    	 Separability; Severability
	  	 	16	  
	 9.7
	    	 Waiver of Conflict
	  	 	16	  
	 9.8
	    	 Titles and Subtitles
	  	 	16	  
	 9.9
	    	 Entire Agreement; Amendment
	  	 	17	  
	 9.10
	    	 Counterparts
	  	 	17	  
	 9.11
	    	 Survival of Representations and Warranties
	  	 	17	  
	 9.12
	    	 Exculpation
	  	 	17	  
	 9.13
	    	 Attorneys’ Fees
	  	 	17	  
	 9.14
	    	 Expenses
	  	 	17	  
	 9.15
	    	 Finder’s Fees
	  	 	17	  
	 9.16
	    	 Termination
	  	 	17	  

 Exhibits 
  

			
	Exhibit A-	  	Form of Limited Liability Company Agreement
		
	Exhibit B-	  	Form of Registration Rights Agreement
		
	Exhibit C-	  	Form of Put Agreement

  
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 VISALUS HOLDINGS, LLC 

PREFERRED MEMBERSHIP UNIT PURCHASE AGREEMENT 

THIS PREFERRED MEMBERSHIP UNIT PURCHASE
AGREEMENT (the “Agreement”) is made and entered into as of November 25, 2005, by and among VISALUS HOLDINGS, LLC, a Delaware limited liability company (the “Company”), and Ropart
Asset Management Fund, LLC, a Delaware limited liability company (hereinafter referred to as “RAM” and/or “Purchaser”). 
 Recitals 
 WHEREAS, RAM desires to
purchase, and the Company agrees to sell, one million, five hundred thousand (1,500,000) Series A Convertible Participating Preferred Units of the Company (the “Units”) pursuant to the terms and conditions of this
Agreement. 
 WHEREAS, in connection with the transactions contemplated herein the parties
intend, as of the Closing Date (as defined below), to enter into an Amended and Restated Limited Liability Company Agreement of the Company substantially in the form attached as Exhibit A hereto (the “LLC Agreement”),
a Registration Rights Agreement substantially in the form attached as Exhibit B hereto (the “Registration Rights Agreement”) and a Put Agreement substantially in the form attached as Exhibit C hereto (the
“Put Agreement” and, together with this Agreement, the LLC Agreement and the Registration Rights Agreement, the “Transaction Documents”). 

NOW, THEREFORE, IN CONSIDERATION of the mutual promises
contained herein and made pursuant hereto, and good and available consideration, receipt of which is hereby acknowledged, the parties hereto do hereby agree as follows: 
 Article 1 
 Authorization and Sale of Units and Commitment of Purchaser

 1.1 Authorization of the Units. The Company has authorized (i) the sale and issuance of the Units and
(ii) the issuance of such Class A Common Units of the Company as are to be issued upon conversion of the Units (the “Conversion Units”). The Units and the Conversion Units shall have the rights, restrictions,
privileges and preferences as set forth in the LLC Agreement. 
 1.2 Sale of the Units. Subject to the terms and
conditions hereof and in reliance upon the representations, warranties and agreements contained herein, the Company will issue and sell to RAM, and RAM will purchase from the Company, the Units at a purchase price of ONE DOLLAR AND 00/100 CENTS
($1.00) per Unit. 

 Article 2 
 Closing Date; Delivery; Preferred Unit Terms 
 2.1 Closing Date. The
closing of the purchase and sale of the Units hereunder (the “Closing”) shall be held at the offices of Finn Dixon & Herling LLP, One Landmark Square, Stamford, Connecticut 06901 at 10:00 a.m., local time, on such
date (the “Closing Date”) as is five business days after the satisfaction of the conditions set forth in Sections 5.5, 5.10, 5.11 and 5.12 hereof, or at such other time and place as shall be mutually agreed upon by the
Company and RAM. 
 2.2 Payment of Purchase Price. On the Closing Date and upon satisfaction of the conditions set forth
in Article 5 hereof, RAM shall pay to the Company a total of one million, five hundred thousand dollars ($1,500,000) by wire transfer of immediately available funds as follows: (i) to each of the holders of the promissory notes and warrants
described on Schedule 7.4 hereto such amount as is set forth in the Payoff Letter (as defined below) for each such holder (not to exceed $1,500,000 in the aggregate); (ii) to the Company an amount equal to one million, five hundred
thousand dollars ($1,500,000) less the aggregate amount paid pursuant to (i) above. 
 Article 3 

Representations and Warranties of the Company 
 For purposes of these representations and warranties (other than those in Sections 3.2, 3.3, and 3.4), the term the “Company” shall include any subsidiaries of the Company, unless otherwise
noted herein. The Company hereby represents and warrants to the Purchaser as follows: 
 3.1 Organization and Standing;
Certificate of Formation and Operating Agreement. The Company is duly organized and validly existing under the laws of the state of its formation and is in good standing under such laws. The Company has all requisite limited liability company
power and authority to own and operate its properties and assets, and to carry on its business as presently conducted and as proposed to be conducted. The Company is or will be within 30 days of the Closing Date duly qualified to do business as a
foreign corporation in each jurisdiction in which the conduct of its business requires such qualification, except where the failure to so qualify would not have a material adverse effect on the Company’s business as presently conducted and as
currently proposed to be conducted. The Company has provided to RAM true, correct and complete copies of its Certificate of Formation and Operating Agreement, as presently in effect. 

3.2 Subsidiaries. The Company is, or on the Closing Date will be, the owner of all of the issued and outstanding shares of FVA
Ventures, Inc. Except for FVA Ventures, Inc. and the common shares thereof, the Company has no subsidiaries and does not own of record or beneficially any equity interest or investment in any corporation, association or business entity. 

3.3 Capitalization. 
 (a) As of the date of this Agreement, the Company’s authorized capital consists of three classes of Membership Units: Common A, Common B and Preferred. As of the date of this Agreement, there are no
issued and outstanding Common B Membership Interests of the Company 

  
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and no issued and outstanding Preferred Membership Interests of the Company. The issued and outstanding Common A Membership Interests of the Company are owned as follows: Ryan Blair - 33 and
1/3%, Blake Mallen - 33 and 1/3% and Nick Samicola - 33 and 1/3%. Collectively, Ryan Blair, Blake Mallen and Nick Samicola own 100% of the issued and outstanding equity interest in the Company. 

(b) Immediately after the Closing, the Company’s authorized capital shall consist of (a) four million six hundred thirty thousand
four hundred thirty four (4,630,434) Class A Common Units, of which four million six hundred thirty thousand four hundred thirty four (4,630,434) units will be issued and outstanding, (b) three hundred ninety-one thousand three
hundred five (391,305) Class B Common Units, of which none (0) will be issued and outstanding and (c) one million, five hundred thousand (1,500,000) Series A Convertible Participating Preferred Membership Units, of which one
million, five hundred thousand (1,500,000) will be issued and outstanding. 
 The Class A and Class B Common Units of
the Company are, or will be, as applicable, duly and validly issued, fully paid and nonassessable, and such units, and all outstanding options, warrants, convertible notes, and other securities of the Company, have been, or will have been, as
applicable, issued in full compliance with the applicable exemptions from the Securities Act of 1933, as amended (the “Securities Act”), the registration and qualification requirements of all applicable securities laws of
states of the United States and all other provisions of applicable securities laws of States of the United States, including, without limitation, anti-fraud provisions. The Units and the Conversion Units will be duly and validly issued, fully paid
and nonassessable. 
 The Company has reserved three hundred ninety-one thousand three hundred five (391,305) Class B
Common Units for issuance pursuant to a Membership Unit Option Plan (the “Plan”). 
 Except for the
Class B Common Units to be issued pursuant to the Plan, there are no outstanding anti-dilution, pre-emptive, first refusal, first offer or other preferential rights, conversion rights or other rights, options, warrants, instruments or agreements
granted or issued by or binding upon the Company for the issuance, purchase or acquisition of, or conversion or exercise into, any Class A or Class B Common Units or Series A Convertible Participating Preferred Units or any other securities of
the Company. The Company is not obligated under any agreement, arrangement or understanding to redeem or otherwise purchase any of its membership interests or other equity interests. The Company holds none of its membership interests or other equity
interests in its treasury. Except as contemplated by this Agreement, there are no agreements, written or oral, between the Company and any holder of its membership interests or other equity interests, or, to the knowledge of the Company, among any
holders of its membership interests or other equity interests, relating to the voting of the membership interests or other equity interests of the Company. 
 (c) Neither the offer nor the issuance or sale of the Units constitute or will constitute an event, which shall either increase the number of membership units of the Company issuable upon conversion of
any securities or upon exercise of any warrant or right to subscribe to or purchase any membership unit of the Company or similar security, or decrease the consideration per membership unit of the Company to be received by the Company upon such
conversion or exercise. 

  
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 3.4 Authorization. All corporate action on the part of the Company, its board of
managers, officers and members necessary for the authorization, execution, delivery and performance by the Company of the Transaction Documents and the consummation of the transactions contemplated herein and therein, and for the authorization,
issuance, sale and delivery of the Units and the Conversion Units has been taken or will be taken prior to the Closing. The Transaction Documents constitute valid and binding obligations of the Company, enforceable in accordance with each of their
terms, subject to laws of general application relating to bankruptcy, insolvency, and the relief of debtors and other laws of general application affecting enforcement of creditors’ rights generally, including rules of law governing specific
performance, injunctive relief or other equitable remedies. The Units are not subject to any preemptive rights or rights of first refusal. The Units, when issued in compliance with the provisions of this Agreement, will be validly issued, fully paid
and nonassessable and issued in compliance with all applicable federal and state securities laws (based in part upon the representations of the Purchaser contained herein), will be free of any liens or encumbrances, and will be free of restrictions
on transfer other than under this Agreement, the LLC Agreement and state and/or federal securities laws. The Conversion Units have been duly and validly reserved and are not subject to any preemptive rights or rights of first refusal and, upon
issuance, will be validly issued, fully paid and nonassessable and will have the rights, preferences and privileges described in the LLC Agreement. 
 3.5 Litigation. There are no actions, suits, proceedings or investigations pending or threatened against the Company or any of its properties before any court or governmental agency or claims
asserted, nor, to the Company’s knowledge, is there any basis therefor. The foregoing includes, without limitation, actions pending or threatened (or any basis therefor known to the Company) involving prior employment of any of the
Company’s employees or former employees or their obligations under any agreements with prior employers. The Company is not a party or subject to the provisions of any order, writ, injunction, judgment or decree of any court or governmental
agency or instrumentality. There is no action, suit, proceeding, or investigation by the Company currently pending or that the Company intends to initiate. 
 3.6 Consents. No consent, approval, qualification, order or authorization of, or filing with, any governmental authority or any third party is required in connection with the Company’s valid
execution, delivery or performance of the Transaction Documents, or the offer, sale or issuance of the Units by the Company, the conversion of the Units, the issuance of the Conversion Units, or the consummation of any other transaction contemplated
on the part of the Company hereby or thereby, except filings required pursuant to applicable federal and state securities laws and blue sky laws, which filings the Company shall complete within the lesser of fifteen (15) days of the Closing
Date or the required statutory period. 
 3.7 Title to Properties; Liens and Encumbrances. The Company has good and
marketable title to its properties and assets and, with respect to the property and assets leased by the Company, holds valid leasehold interests therein, in each case subject to no mortgage, pledge, lien, security interest, conditional sale
agreement, encumbrance or charge, except (i) tax, materialmen’s or like liens for obligations not yet due or payable or being contested in good faith by appropriate proceedings, or (ii) liens arising from equipment loans entered into
in the ordinary course of business. 

  
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 3.8 Proprietary Information and Other Rights. The Company has title and ownership of
all patents, patent applications, trademarks, service marks, trade names, copyrights, mask works, trade secrets, licenses, information, proprietary rights and processes (collectively, “Proprietary Information”) necessary for
its business as now conducted and as presently proposed to be conducted without, except as set forth on Schedule 3.8 hereto, any conflict with or infringement of the rights of others. To the Company’s knowledge, it possesses no licenses,
patents or patent applications which conflict with or infringe the rights of others. There are no outstanding options, licenses or agreements of any kind relating to its Proprietary Information, nor is the Company bound by or a party to any options,
licenses or agreements of any kind with respect to the patents, patent applications, trademarks, service marks, trade names, copyrights, trade secrets, inventions, franchises, licenses, information, proprietary rights and processes of any other
person or entity other than shrink wrap or pre-installed software licensed by the Company in the ordinary course of business. The Company has not received any communications alleging that the Company has violated or, by conducting its business as
proposed, would violate any of the patents, trademarks, service marks, trade names, copyrights or trade proprietary rights of any other person or entity. To the best knowledge of the Company, none of its employees is obligated under any contract
(including licenses, covenants or commitments of any nature) or other agreement, or subject to any judgment, decree or order of any court or administrative agency, that would interfere with the use of his or her best efforts to promote the interests
of the Company or that would conflict with the Company’s business as proposed to be conducted. Neither the execution nor delivery of the Transaction Documents nor the carrying on of the Company’s business by the employees of the Company
nor the conduct of the Company’s business as proposed, will, to the best of the Company’s knowledge, conflict with or result in a breach of the terms, conditions or provisions of, or constitute a default under, any contract, covenant or
instrument under which any of such employees is now obligated. The Company does not believe nor does it have any reason to believe it is or will be necessary to utilize any inventions of any of its employees (or people they currently intend to hire)
made prior to the employment of any such person by the Company. Since its organization, the Company has taken reasonable security measures to protect the secrecy, confidentiality and value of its Proprietary Information and to prevent its
Proprietary Information from being generally known or known by competitors. 
 3.9 Offering. Subject to the truth and
accuracy of the Purchaser’s representations set forth in this Agreement, the offer, sale and issuance of the Units as contemplated by this Agreement are exempt from the registration requirements of the Securities Act, and from the qualification
requirements of the state of Delaware. 
 3.10 Compliance with Other Instruments. The Company is not in any violation or
default of any term of its organization or governing documents, any material term of any material agreement to which the Company is a party, or any judgment, decree, order, statute, rule or regulation to which the Company is subject. The execution,
delivery and performance of the Transaction Documents, and the consummation of the transactions contemplated hereby and thereby have not resulted and 

  
 -5-

 
will not result in any violation of or be in conflict with or constitute, with or without the passage of time and giving of notice, either a default under any such provision, instrument,
judgment, order, writ, decree or contract or an event that results in the creation of any lien, charge or encumbrance upon any assets of the Company or the suspension, revocation, impairment, forfeiture, or nonrenewal of any material permit,
license, authorization, or approval applicable to the Company, its business or operations or any of its assets or properties. The Company has avoided every condition, and has not performed any act, the occurrence of which would result in the
Company’s loss of any rights granted under any license, distribution or other agreement. 
 3.11 Employees. To the
Company’s knowledge, no employee of the Company is in violation of any term of any employment contract, patent disclosure agreement, non-competition agreement, or any restrictive covenant to a former employer relating to the right of any such
employee to be employed by the Company because of the nature of the business conducted or presently proposed to be conducted by the Company. 
 3.12 Registration Rights. The Company is not under any obligation to register any of its currently outstanding securities or any of its securities which may hereafter be issued except as set forth
in the Registration Rights Agreement. 
 3.13 Disclosure; No undisclosed Liabilities. The Company has fully provided the
Purchaser with all the information available to the Company which Purchaser has requested for deciding whether to acquire the Units and all information that the Company believes is reasonably necessary to enable the Purchaser to make the decision to
acquire the Units. No representation or warranty of the company contained in this Agreement, and no certificate furnished or to be furnished to Purchaser at the Closing, contains any untrue statement of a material fact or omits to state a material
fact necessary in order to make the statements contained herein or therein not misleading in light of the circumstances under which they were made. Any projections were prepared in good faith; however, the Company does not warrant that it will
achieve any projected results. The Company does not have any liability that is not readily apparent from the information provided by the Company to the Purchaser. 
 3.14 ERISA Plans. The Company does not have any Employee Pension Benefit Plan as defined in Section 3 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).

 3.15 Tax Elections. The Company has elected to file tax returns as a partnership and shall file all tax returns and
reports as required by law. These returns and reports are true and correct in all material respects. The Company has paid all taxes and other assessments due, except those contested by it in good faith. 

3.16 Compliance with Laws; Permits. The Company is not in violation of any applicable statute, rule, regulation, order or
restriction of any domestic or foreign government or any instrumentality or agency thereof in respect of the conduct of its business or the ownership of its properties which violation (individually or in the aggregate) would materially and adversely
affect the business, assets, liabilities, financial condition, operations or prospects of the Company. The 

  
 -6-

 
Company has all franchises, permits, licenses, and any similar authority necessary for the conduct of its business as now being conducted by it, the lack of which could materially and adversely
affect the business, properties, prospects, or financial condition of the Company, and the Company believes it can obtain, without undue burden or expense, any similar authority for the conduct of its business as planned to be conducted. The Company
is not in default in any material respect under any of such franchises, permits, licenses, or other similar authority. 
 3.17
Related Party Matters. 
 (a) Other than standard employee benefits generally made available to all employees, and the
purchase of shares of the Company’s membership units and the issuance of options to purchase membership units of the Company, in each instance, approved by the board of managers of the Company (the “Board of Managers”)
(or, in the case of any subsidiary, board of directors), there are no agreements, understandings or proposed transactions between the Company and any of its officers, directors, or key employees, or any Affiliate (as defined below) thereof.

 (b) The Company is not indebted, directly or indirectly, to any of its managers, directors, officers or employees or to their
respective spouses, children or other immediate family members or to any Affiliate of any of the foregoing, other than in connection with expenses or advances of expenses incurred in the ordinary course of business or employee relocation expenses.
None of the Company’s managers, directors, officers or employees, or any members of their immediate families, or any Affiliate of the foregoing (i) are, directly or indirectly, indebted to the Company or, (ii) to the Company’s
knowledge, have any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation which competes with the Company except that
managers, directors, officers or employees or stockholders of the Company may own stock in (but not exceeding two percent of the outstanding capital stock of) publicly traded companies that may compete with the Company. To the Company’s
knowledge, none of the Company’s managers, directors, officers or employees or any members of their immediate families or any Affiliate of any of the foregoing are, directly or indirectly, interested in any contract with the Company. None of
the Company’s managers, directors or officers or employees, or any members of their immediate families, has any material commercial, industrial, banking, consulting, legal, accounting, charitable or familial relationship with any of the
Company’s major business relationship partners, service providers, joint venture partners, licensees and competitors. 

(c) For the purposes of this Agreement, “Affiliate” means with respect to any person or entity (a “Person”) any
Person which, directly or indirectly, controls, is controlled by, or is under common control with such Person, including, without limitation, any partner, manager, officer, director, or member of such Person. 

  
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 Article 4 
 Representations and Warranties of the Purchaser 
 The Purchaser hereby
represents and warrants to the Company as follows: 
 4.1 No Registration. Purchaser understands that the Units (and the
Conversion Units) have not been registered under the Act and are being offered and sold pursuant to an exemption from registration contained in the Act based in part upon the representations of the Purchaser below or otherwise made hereunder.

 4.2 Investment Experience. Purchaser or its professional advisor has substantial experience in evaluating and
investing in private placement transactions of securities in companies similar to the Company, and is capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests. 

4.3 Suitability Requirements. The Purchaser hereby represents that it qualifies as an “accredited investor,” as such
term is defined in Rule 501(a) of Regulation D under the Act, and must demonstrate the basis for such qualification. To be an accredited investor, an investor must fall within any of the following categories at the time of the sale of any Units to
the Purchaser: 
 (a) A bank as defined in Section 3(a)(2) of the Act, or a savings and loan association or other
institution as defined in Section 3(a)(5)(A) of the Act, whether acting in its individual or fiduciary capacity; a broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934; an insurance company as defined
in Section 2(13) of the Act; an investment company registered under the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of that Act; a Small Business Investment Company licensed by the U.S.
Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958; a plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political
subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000; an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 if the investment decision is made by a plan
fiduciary, as defined in Section 3(21) of that Act, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a
self-directed plan, with investment decisions made solely by persons that are accredited investors; 
 (b) A private business
development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940; 
 (c) An organization
described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended; a corporation; a Massachusetts or similar business trust; or a partnership; in each case, not formed for the specific purpose of acquiring the Units and with total
assets in excess of $5,000,000; 
 (d) A director or executive officer of the Company; 

(e) A natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of such person’s
purchase of the Units exceeds $1,000,000; 

  
 -8-

 (f) A natural person who had an individual income in excess of $200,000 in each of the two
most recent years or joint income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year; 

(g) A trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Units, whose purchase is
directed by a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation D; and 
 (h) An entity in which all of the
equity owners are accredited investors (as defined above). 
 (i) As used in this document, the term “net worth” means
the excess of total assets over total liabilities. In computing net worth for the purpose of (e) above, the principal residence of the investor must be valued at cost, including cost of improvements, or at recently appraised value by an
institutional lender making a secured loan, net of encumbrances. 
 In order to meet the conditions for exemption from the registration
requirements under the securities laws of certain jurisdictions, investors who are residents of such jurisdictions may be required to meet additional suitability requirements. 
 4.4 Access to Information. Purchaser has had full opportunity to ask questions and receive answers concerning the terms and conditions of the offering of the Units and has had full access to the
Company’s officers and, to the Purchaser’s knowledge, such other information concerning the Company as it has requested. 
 4.5 Investment. Purchaser is acquiring the Units to be issued and sold hereunder (and the Conversion Units) for investment for its own account, and not as a nominee or agent, and not with a view to
or for sale in connection with the distribution thereof. Purchaser understands that it must bear the economic risk of this investment indefinitely unless the Units or the Conversion Units are registered pursuant to the Act, or an exemption from such
registration is available, and that the Company has no present intention of registering the Units or the Conversion Units. Purchaser further understands that there is no assurance that any exemption from the Act will be available or, if available,
that such exemption will allow Purchaser to dispose of or otherwise transfer any or all of the Units or the Conversion Units under the circumstances in the amounts or at the times Purchaser might propose. 

4.6 Authorization. Purchaser has the full power, right and authority to execute and deliver this Agreement, and to perform its
obligations hereunder. This Agreement, when executed by Purchaser, will constitute a valid and legally binding obligation of Purchaser, enforceable in accordance with its terms, subject to laws of general application relating to bankruptcy,
insolvency, and the relief of debtors, and rules of law governing specific performance, injunctive relief and other equitable remedies. No consent, approval, authorization, order, filing, registration or qualification of or with any court,
governmental authority or third person is required to be obtained by Purchaser in connection with the execution and delivery of this Agreement or the performance of Purchaser’s obligations hereunder. 

  
 -9-

 4.7 Tax Advisors. Purchaser has reviewed with its own tax advisors the federal, state
and local tax consequences of this investment, where applicable, and the transactions contemplated by this Agreement. Purchaser is relying solely on such advisors and not on any statements or representations of the Company or any of its agents and
understands that Purchaser (and not the Company) shall be responsible for Purchaser’s own tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. 

4.8 Investor Counsel. Purchaser acknowledges that it has had the opportunity to review this Agreement, the exhibits and the
schedules attached hereto and the transactions contemplated by this Agreement with its own legal counsel. 
 4.9 Resale Under
Rule 144. Purchaser acknowledges that it is aware of Rule 144 promulgated under the Act, which permits limited public resales of securities acquired in a nonpublic offering, subject to the satisfaction of certain conditions. Purchaser
understands that under Rule 144, except as otherwise provided by section (k) of that Rule, the conditions include, among other things: the availability of certain current public information about the issuer, the resale occurring not less than
one year after the party has purchased and paid for the securities to be sold, and limitations on the amount of securities to be sold and the manner of sale. Purchaser understands that the current information referred to above is not now available
and the Company has no present plans to make such information available. Purchaser acknowledges and understands that, notwithstanding the Company’s obligations under the Registration Rights Agreement, the Company may not be satisfying the
current public information requirement of Rule 144 at the time it wishes to sell the Units or any Conversion Units, and that, in such event, it may be precluded from selling such Membership Units under such Rule, even if the other requirements of
such Rule have been satisfied. Purchaser acknowledges that, in the event all of the requirements of Rule 144 are not met, registration under the Act, compliance with the SEC’s Regulation A or an exemption from registration will be required for
any disposition of the Units and the Conversion Units. Purchaser understands that, although Rule 144 is not exclusive, the SEC has expressed its opinion that persons proposing to sell restricted securities received in a private offering other than
in a registered offering or pursuant to Rule 144 will have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales and that such persons and the brokers who participate in the
transactions do so at their own risk. 
 4.10 Residency. The residency of Purchaser (or, in the case of a partnership or
corporation, such entity’s principal place of business) is correctly set forth in Section 8.4 hereof. 
 4.11
Disclosure of Information. Purchaser has read the Company’s literature regarding its business operations. Purchaser has also had an opportunity to discuss the Company’s business, management and financial affairs with the
Company’s management. Purchaser has also had an opportunity to ask questions of officers of the Company, which questions were answered to the Purchaser’s satisfaction. The Purchaser understands that such discussions, as well as any written
information issued by the Company, were intended to describe certain aspects of the Company’s business and prospects but were not an exhaustive description. 

  
 -10-

 Article 5 
 Conditions to Closing of the Purchaser 
 RAM’S obligation to purchase
the Units at the Closing is subject to the fulfillment of each of the following conditions: 
 5.1 Representations and
Warranties Correct. The representations and warranties made by the Company pursuant to Article 3 hereof shall be true and correct as of the Closing Date. 
 5.2 Performance. All covenants, agreements and conditions contained in this Agreement to be performed or complied with by the Company on or prior to the Closing Date shall have been performed or
complied with. 
 5.3 Compliance Certificate. The President of the Company shall deliver to the Purchasers at the Closing
a certificate certifying that the conditions specified in Sections 5.1, 5.2, 5.4, 5.5, 5.6, 5.8 and 5.10 have been fulfilled. 

5.4 Good Standing Certificate: No Changes in Governing Documents. The Company shall have delivered to RAM a certificate dated as
of the most recent practicable date prior to the Closing Date issued by the Secretary of State of Delaware to the effect that the Company is duly organized, validly existing and in good standing. Except as contemplated by this Agreement, there shall
have been no change in or amendment to the Certificate of Formation or Limited Liability Company Agreement of the Company. 

5.5 Authorizations. All material governmental authorizations, consents, approvals, exemptions, or other actions required to issue
or purchase the Units pursuant to this Agreement, shall have been obtained and shall be in full force and effect. 
 5.6 No
Material Adverse Change. From November 1, 2005, through the date of Closing, there shall have been no material adverse change in the business, affairs, prospects, operations, properties, assets or condition of the Company. 

5.7 Minimum Closing. At the Closing, RAM shall have purchased Units having an aggregate purchase price of ONE MILLION FIVE HUNDRED
THOUSAND DOLLARS ($1,500,000). 
 5.8 Reservation of Conversion Units. The units of the Conversion Units issuable upon
conversion of the Units shall have been duly authorized and reserved for issuance upon such conversion. 
 5.9 Transaction
Documents. The Company shall have delivered duly executed copies of the LLC Agreement, the Registration Rights Agreement and the Put Agreement. 

  
 -11-

 5.10 Completion of Certain Transactions. The Company shall have completed the
acquisition of all of the issued and outstanding equity securities of FVA Ventures, Inc. and the merger of Future Vision Alliance, LLC with and into FVA Ventures, Inc. shall have been completed 

5.11 Payoff Letters. The Company shall have delivered to RAM executed payoff letters in form and substance satisfactory to RAM
from each holder of a promissory note or warrant issued by Company, including, without limitation, those listed on Schedule 7.4 hereto, providing for the cancellation of such promissory note or warrant and the termination of all obligations
thereunder upon payment of a specified payoff amount (the “Payoff Letters”). 
 5.12 Due
Diligence. RAM shall have completed and be satisfied with the results of its due diligence examination of the Company. 

Article 6 

Conditions to Closing of the Company 
 The Company’s obligation to sell the Units at the Closing is subject to the fulfillment to its satisfaction on or prior to the Closing Date of each of the following conditions: 

6.1 Representations. The representations made by RAM pursuant to Article 4 hereof shall be true and correct as of the
Closing Date. 
 6.2 Payment of Purchase Price. At Closing, RAM shall pay to or on behalf of the Company the purchase
price for the Units, in the amount of One Million Five Hundred Thousand Dollars ($1,500,000.00) in accordance with Section 2.2 hereof. 
 6.3 Transaction Documents. The Purchaser shall have delivered duly executed copies of the LLC Agreement, the Registration Rights Agreement and the Put Agreement. 

Article 7 

Affirmative Covenants of the Company and RAM 
 7.1 Normal Course. From the date hereof until the Closing Date, except as otherwise expressly contemplated by this Agreement the Company covenants that it will do, and will cause its subsidiaries
to do, the following: 
 (i) maintain its and their limited liability company or corporate existence in good
standing; 
 (ii) maintain the general character of their business; 

(iii) maintain all presently existing insurance coverage under which they are beneficiaries relating to the business,
operations, or assets of the Company and its subsidiaries, to preserve the business organization of the Company and its subsidiaries intact, 

  
 -12-

 
to keep the services of the present principal employees of the Company and its subsidiaries, and to preserve the good will of the Company and its subsidiaries and its and their material suppliers
and customers and others having material business relationships with the Company and/or its subsidiaries; 
 (iv)
permit RAM, its representatives and its lenders full access to the Company’s and its subsidiaries’ management, minute books, other books and records, contracts, agreements, properties, and operations at all reasonable times; and

 in all respects conduct the business of the Company and its subsidiaries in the usual and ordinary manner consistent with
past practice. 
 7.2 Provision of Due Diligence Materials. The Company covenants that it will provide to RAM by 5:00
p.m. Eastern Standard Time on November 29, 2005, all due diligence material concerning the Company, FVA Ventures, Inc., Future Vision Alliance, LLC and Path Connect, Inc. that is reasonably requested by RAM prior to 5:00 p.m. Eastern Standard
Time on November 23, 2005. 
 7.3 Vesting of Common Units. The Company covenants that unless otherwise unanimously
approved by the Board of Managers, all options granted to service providers shall vest as follows: one twenty fourth (1/24) every month for 24 months. 
 7.4 Use of Proceeds. The Company shall use the proceeds from the sale of the Units to repay certain indebtedness (as set forth on Schedule 7.4 hereto) and retire certain warrants (as set forth on
Schedule 7.4 hereto), repay any existing credit card debt (as set forth on Schedule 7.4 hereto), for working capital and general corporate purposes. 
 7.5 Insurance. The Company covenants that, if so requested by RAM, the Company and/or its operating subsidiaries shall purchase product liability insurance. 

7.6 Controller. The Company covenants that it will hire an individual to be the controller of the Company within one month of the
Closing Date, such individual to be acceptable to RAM. 
 7.7 Audit. The Company covenants that it will arrange for the
performance of an audit of the Company, including its subsidiaries, for the period from March 31, 2005 through December 31, 2005, with such audit to be completed by March 1, 2006. 

7.8 Compliance with Laws. If and to the extent that RAM or the Company should identify any areas in which the Company and/or its
subsidiaries and their operations are not in full compliance with applicable law, the Company agrees to take and to cause its subsidiaries to take such steps as are necessary within 30 days after of the Closing date to rectify such non-compliance to
the satisfaction of RAM. 
 7.9 Efforts to Satisfy Conditions. The Company will use commercially reasonable efforts to
satisfy the conditions set forth in Article 5 hereof that are within the Company’s control. 

  
 -13-

 Article 8 
 Indemnification 
 8.1 Indemnification. Subject to the terms and
conditions of this Article 8, the Company hereby agrees to indemnify, defend and hold harmless each of the Purchaser and its Affiliates and each of their respective successors and assigns, representatives, directors, officers, members,
partners, employees and agents of such Persons (collectively, the “Investor Group”) from and against all claims, actions or causes of action, assessments, demands, losses, damages, judgments, settlements, liabilities, costs
and expenses, including, without limitation, interest, penalties and attorneys’ and accounting fees and expenses of any nature whatsoever, whether actual or consequential (collectively, “Damages”), asserted against,
imposed upon or incurred by any member of the Investor Group by reason of or resulting from: 
 (a) any inaccuracy or breach of
a representation or warranty made by the Company in this Agreement; provided, that for purposes of this provision, with respect to any provision that is qualified by materiality, material adverse effect or knowledge, a breach of such
representation or warranty shall be deemed to occur if there would have been a breach of such representation or warranty absent such qualification; or 
 (b) the breach of, or default in the performance by the Company of, any covenant, agreement or obligation to be performed by the Company pursuant to this Agreement or any agreement or instrument executed
in connection herewith or pursuant hereto; 
 8.2 Non-Exclusive Remedy. The indemnification remedies provided in this
Article 8 shall not be deemed to be exclusive. Accordingly, the exercise by any Person of any of its rights under this Article 8 shall not be deemed to be an election of remedies and shall not be deemed to prejudice, or to constitute or operate as a
waiver of, any other right or remedy that such Person may be entitled to exercise (whether under this Agreement, under any other contract, under any foreign, federal or state order, statute, rule or regulation or otherwise). 

8.3 Conditions of Indemnification. The obligations and liabilities of the Company to indemnify the Investor Group under
Section 8.1 hereof with respect to Damage claims, resulting from the assertion of liability by third parties shall be subject to the following terms and conditions: 
 (a) The indemnified party will give the indemnifying party prompt notice of any such claim, and the indemnifying party will undertake the defense thereof by representatives of its own choosing reasonably
satisfactory to the indemnified party; provided, that failure to provide such notice will not relieve the indemnifying party of its obligations hereunder unless (and then solely to the extent) it is actually prejudiced by such failure to
receive such notice. If the indemnifying party, within ten (10) days after notice of any such claim, fails to defend such claim, the indemnified party will (upon further notice to the indemnifying party) have the right to undertake the defense,
compromise or settlement of such claim on behalf of and for the account and risk of the indemnifying party. 

  
 -14-

 (b) Anything in this Section 8.3 to the contrary notwithstanding, (i) an
indemnified party shall have the right, at its own cost and expense, to participate in the defense, compromise or settlement of such claim, (ii) the indemnifying party shall not, without the written consent of the indemnified party, settle or
compromise any claim or consent to the entry of any judgment (x) which does not include as an unconditional term thereof the giving by the claimant or the plaintiff to the indemnified party a release from all liability in respect of such claim
or (y) as a result of which injunctive or other equitable relief would be imposed against the indemnified party, and (iii) the indemnified party shall have the right to control the defense or settlement of that portion of any claim which
seeks an order, injunction or other equitable relief against the indemnified party which, if successful, could materially interfere with the business, operations, assets, financial condition or prospects of the indemnified party; provided, however,
that in connection with the defense or settlement of the portion of such claim which seeks equitable relief, the indemnified party shall cooperate with the indemnifying party and use its reasonable best efforts to limit the liability of the
indemnifying party for the damages portion of such claim. 
 Article 9 

Miscellaneous 
 9.1 Governing Law. This Agreement will be interpreted and governed by the laws of the State of Delaware, without reference to conflict of laws principles. 

9.2 Successors and Assigns. The provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns,
heirs, executors and administrators of the parties hereto. 
 9.3 Modifications. No amendment or modification of this
Agreement will be effective unless assented to in writing by the Company and the Purchaser. 
 9.4 Notices. All notices
and other communications required or permitted hereunder shall be in writing and shall be mailed by first-class mail, postage prepaid, or delivered either by hand or by messenger, addressed (a) if to RAM, as indicated below, or at such other
address as RAM shall have furnished to the Company in writing, or (c) if to the Company, as indicated below, or at such other address as the Company shall have furnished to RAM in writing. 

Ropart Asset Management, LLC 
 One East Weaver Street 
 Greenwich, CT 06831 

Attention: Todd A. Goergen 
 Copy to: 
 Finn Dixon & Herling, LLP 

One Landmark Square 
 Stamford, Connecticut 06901 
 Attention: Erik A. Bergman, Esq. 

  
 -15-

 Visalus Holdings, LLC 

1300 Wilshire Boulevard 
 Los Angeles, CA 90048 
 Attention: Ryan Blair 

Copy to: 
 Law
In Progress, PC 
 26895 Aliso Creek Rd. Suite B573 
 Aliso Viejo CA 92656 
 Attn: Gerald Wolfe 

9.5 Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to the Purchaser upon any breach or
default of the Company under this Agreement shall impair any such right, power or remedy of the Purchaser, nor shall it be construed to be a waiver of any such breach or default or an acquiescence therein, or of or in any similar breach or default
thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of the
Purchaser of any breach or default under this Agreement, or any waiver on the part of the Purchaser of any provisions or conditions of this Agreement, must be made in writing and shall be effective only to the extent specifically set forth in such
writing. All remedies, either under this Agreement or by law or otherwise afforded to the Purchaser, shall be cumulative and not alternative. 
 9.6 Separability; Severability. In case any provision of the Agreement shall be invalid, illegal or unenforceable by a court of competent jurisdiction, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby, and the parties agree to negotiate, in good faith, a legal and enforceable substitute provision which most nearly effects the parties’ intent in entering into this
Agreement. 
 9.7 Waiver of Conflict. EACH PARTY
TO THIS AGREEMENT THAT HAS BEEN OR CONTINUES TO BE REPRESENTED BY
LAW IN PROGRESS, PC OR GERALD WOLFE, COUNSEL TO THE COMPANY, HEREBY
ACKNOWLEDGES THAT RULE 3-310 OF THE RULES OF PROFESSIONAL CONDUCT PROMULGATED BY
THE STATE BAR OF CALIFORNIA REQUIRES AN ATTORNEY TO AVOID REPRESENTATIONS
IN WHICH THE ATTORNEY HAS OR HAD A RELATIONSHIP WITH ANOTHER PARTY
INTERESTED IN THE REPRESENTATION WITHOUT THE INFORMED WRITTEN CONSENT OF ALL
PARTIES AFFECTED. BY EXECUTING THIS AGREEMENT, EACH SUCH PARTY GIVES ITS
INFORMED WRITTEN CONSENT TO THE REPRESENTATION OF THE COMPANY BY LAW
IN PROGRESS, PC OR GERALD WOLFE IN CONNECTION WITH THIS AGREEMENT AND
THE TRANSACTIONS CONTEMPLATED HEREBY. 
 9.8 Titles and
Subtitles. The titles of the paragraphs and subparagraphs of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. 

  
 -16-

 9.9 Entire Agreement; Amendment. This Agreement (including all exhibits hereto), and
the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof. 
 9.10 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. 

9.11 Survival of Representations and Warranties. The representations, warranties and covenants of the Company and RAM contained in
or made pursuant to this Agreement shall survive the execution and delivery of this Agreement and the Closing and shall in no way be affected by any investigation of the subject matter thereof made by or on behalf of RAM, their counsel, or the
Company, as the case may be. 
 9.12 Exculpation. RAM acknowledges that it is not relying upon any person, firm or
corporation, other than the Company and its officers and directors (acting in their capacity as representatives of the Company), in deciding to invest and in making its investment in the Company. 

9.13 Attorneys’ Fees. If any party to this Agreement brings an action against another party to this Agreement to enforce its
rights under this Agreement, the prevailing party shall be entitled to recover its reasonable costs and expenses, including attorneys’ fees and costs, incurred in connection with such action, including any appeal of such action. 

9.14 Expenses. The Company will reimburse RAM up to FORTY-FIVE THOUSAND DOLLARS ($45,000) for actual documented legal fees and
disbursements and due diligence expenses. 
 9.15 Finder’s Fees. Each party hereto represents that it neither is nor
will be obligated for any finder’s fee or commission in connection with this transaction. Purchaser agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder’s fee
(and the costs and expenses of defending against such liability or asserted liability) for which Purchaser or any of its officers, employees, or representatives is responsible. The Company agrees to indemnify and hold harmless Purchaser from any
liability for any commission or compensation in the nature of a finder’s fee (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is
responsible. 
 9.16 Termination. 
 (a) This Agreement may be terminated prior to the Closing: 
 (i) By the mutual
written consent of RAM and the Company; 
 (ii) By RAM, in writing, if the Company shall (A) fail to perform in any
material respect its agreements contained herein required to be performed by it on or prior to the Closing Date; or (B) materially breach any of its representations, warranties or covenants contained herein, which failure or breach is not cured
within five (5) business days after RAM has notified the Company of its intent to terminate this Agreement pursuant to this subparagraph (B); or 

  
 -17-

 (iii) By RAM, in writing, with immediate effect, if the Closing has not occurred on or
before December 15, 2005. 
 (b) In the event of a termination pursuant to Section 9.16(a), this Agreement shall
become void and there shall be no liability or obligation on the part of either party hereto, except for Article 8 and this Section 9.16, which shall survive such termination and except for the liability of any breaching party hereto which
shall survive such termination. 

  
 -18-

 IN WITNESS WHEREOF, the
undersigned, being duly authorized agents of the parties, have executed this Agreement as of the date first written above. 
  

			
	VISALUS HOLDINGS, LLC
		
	By:	 	 /s/ Ryan Blair

		 	Ryan Blair
		 	Chief Executive Officer
	
	ROPART ASSET MANAGEMENT FUND, LLC
		
	By:	 	 /s/ Todd A. Goergen

		 	Name:
		 	Title:

 EXHIBIT A 
 Form of Limited Liability Company Agreement 

 THE INTERESTS EVIDENCED BY THIS AGREEMENT HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION OR ANY STATE, BUT HAVE BEEN ISSUED PURSUANT TO EXEMPTIONS UNDER THE FEDERAL SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND APPLICABLE STATE SECURITIES LAWS. THE SALE, TRANSFER, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF
ANY OF SAID INTERESTS IS RESTRICTED AND MAY NOT BE ACCOMPLISHED EXCEPT IN ACCORDANCE WITH THIS AGREEMENT AND AN APPLICABLE REGISTRATION STATEMENT OR AN OPINION OF COUNSEL SATISFACTORY TO THE MANAGER THAT REGISTRATION IS UNNECESSARY OR AN EXEMPTION
FROM REGISTRATION UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS. 
  
 

 
 THIS OPERATING AGREEMENT (this “Agreement”) is made and entered into
this 16th day of November, 2005, among the following
persons (individually referred to herein as a “Member” and collectively referred to herein as “Members”): 

RYAN BLAIR 
 BLAKE
MALLEN 
 NICK SARNICOLA 

and the following person or persons (individually and collectively referred to herein as the “Manager” or “Board of Managers”):

 RYAN BLAIR 
 BLAKE MALLEN 
 NICK SARNICOLA 

Whenever there shall be more than one Manager, see Section 8.1(d) for the manner in which decisions are to be made by the
Manager. 
 The term “person” means any individual, sole proprietorship, partnership, limited liability company,
corporation, trust or other entity. 
 W I T N E S S E T H: 

WHEREAS, the parties hereto are desirous of establishing and operating a limited liability company under the laws of the State of
Delaware (the “State”). 

  
 1 

 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein and other
good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged by the parties, the parties agree as follows: 
 ARTICLE 1 
 Formation of Company 

1.1 Statutory Authority. The parties hereby agree to form and operate a limited liability company (the “Company”) under
and pursuant to the provisions of the Limited Liability Company Act from time to time in force in the State (the “Act”). Except as otherwise expressly provided in this Agreement, the rights and obligations of the Company, its Members and
the Manager shall be governed by the Act. 
 1.2 Filings. The Manager shall file or shall cause to be executed and filed
a Certification of Formation conforming to the requirements of the Act in the Office of the Secretary of State of the State and the Manager shall make or cause to be made such other filings and recordings and it shall do or cause to be done such
other acts and things conforming thereto as shall constitute compliance with all requirements for the formation of a limited liability company under the Act and the laws of such other states in which the Company elects to do business. 

1.3 Membership Units. The Manager is authorized to issue three classes of Membership Units, namely Common A, Common B and Preferred. The
only distinction between Common A and Common B is that Common A shall consist of voting interests and Common B shall consist of non voting interests. There shall be no distinction in preferences, qualifications, limitations, restrictions or any
other differences, other than voting rights as stated above. Preferred Membership Units shall consist of of the same voting interests as Common A, certain conversion and anti-dilution rights, redemption, as well as preferential treatment in the
event of a liquidation, dissolution or other winding up event, as may be more specifically described in this Agreement, a Preferred Membership Unit Purchase Agreement and Registration Rights Agreement to be negotiated at the time of such
arrangement. 
 ARTICLE 2 
 Name 
 The name of the Company shall be the name set forth in the heading
of this Agreement. The affairs of the Company shall be conducted under the Company name or such other name as the Manager may select in accordance with the Act. The Manager shall execute and file with the proper offices any and all certificates
required by the fictitious name or assumed name statutes of the states in which the Company elects to do business. The Company shall have the exclusive ownership of and right to use the Company name and any other name under which the Company shall
elect to conduct its affairs as long as the Company continues. 

  
 2 

 ARTICLE 3 
 Purpose of the Company 
 The purpose of the Company shall be to engage in
the business of the direct marketing and distribution of health and wellness products and services (the “Business”), and undertake such other business activities thereto as the Manager may determine is in the interests of the Company.

 ARTICLE 4 
 Offices, Records and Agents 
 4.1 Principal Office of the Company.
The principal office of the Company shall be located at such place within or outside the State as the Manager may from time to time designate. The Company may have secondary offices at such other place or places as the Manager may from time to time
designate. 
 4.2 Records to be Maintained. The Manager shall at all times during the continuance of the Company keep at
the Company’s principal office such records and information as the Company may be required to maintain in accordance with the Act. 
 4.3 Registered Office and Registered Agent. The Manager shall designate a registered office and a registered agent for service of process in accordance with the Act. The Manager may from time to
time in accordance with the Act change the Company’s registered office and/or registered agent. The Manager shall select and designate a registered office and registered agent for the Company in each other state in which the Company is required
to maintain or appoint one. 
 ARTICLE 5 
 Term of Existence and Termination of the Company 
 5.1 Term of the
Company. The Company shall commence upon the filing of the Certificate of Formation of the Company with the Office of the Secretary of State and shall continue in perpetuity, unless sooner terminated in accordance with Section 5.2, below.

 5.2 Termination. The Company shall terminate prior to the time set forth in Section 5.1: 

(a) Sale of Assets. Upon the sale or other disposition of all or substantially all of the Company’s non-cash assets;
provided, however, that this Agreement generally and Article 12 in particular shall govern the conduct of the parties during the winding up of the Company; provided, however, that in the event that such sale or other disposition involves
(i) the receipt of a deferred payment obligation, whether or not secured, or (ii) the receipt of payment in whole or in part in kind, then at the Manager’s election the term of the Company shall not end, and it shall continue, subject
to the other provisions hereof, until the earlier of the time that (A) the deferred payment obligation shall have been paid in full, (B) the in kind considerations received by the Company shall have been sold or otherwise converted to cash
or (C) the Manager elects to terminate the Company and distribute the deferred payment obligation or in kind considerations. 

  
 3 

 (b) Dissolution by Members. If Members holding not less than all of the Percentage
Interests (as hereinafter defined) of the Members shall execute an instrument so stating; provided, however, that this Agreement generally and Article 12 in particular shall govern the conduct of the parties during the winding up of the Company.

 ARTICLE 6 
 Contributions to Capital 
 6.1 Capital Contributions. Each Member
shall contemporaneously with the execution of this Agreement contribute to the capital of the Company the amount of money or property set forth or described under the heading “Capital Contribution” opposite that Member’s signature
hereto. 
 6.2 Additional Capital Contributions. Except as set forth in this Section 6.2 or as required by the Act,
no Member shall be assessed for additional capital contributions. The Members may, by unanimous agreement, at any time or from time to time, make additional capital contributions to the Company. 

6.3 Defaulting Members. (a) Rights of Company. The Company shall be entitled to enforce the obligations of each Member
to make the contributions specified in this Article, and the Company acting at the direction of the Manager shall have all remedies available at law or in equity in the event any such contribution is not so made. The Company shall be entitled to
recover the reasonable attorney’s fees and other costs of enforcing the Members’ obligations under this Article, and shall also be entitled to recover interest on any unpaid contributions, from the due date of such capital contribution, at
seven percent (7%) simple interest per annum. 
 (b) Option on Default. Additionally, should any Member (the
“Defaulting Member”) fail to make one of the contributions required of it under this Article, the Defaulting Member shall be in default, and the other Members (the “Optionees”) shall have the right and option (the
“Option”) to acquire the Company interest of such Defaulting Member, as follows: 
 (i) Should any Defaulting Member
be in default in making any such contribution, the Manager may send a notice of default to such Defaulting Member. If the default is not cured within 15 days of notice of default (the “Cure Period”), the Manager shall notify the Optionees
of the default (the “First Option Notice”) within five days after the expiration of the Cure Period. The First Option Notice shall advise each Optionee of the portion and the price of the Defaulting Member’s interest available to it.
The portion available to each Optionee shall be equal to the Defaulting Member’s interest multiplied by a fraction, the numerator of which is such Optionee’s Percentage Interest and the denominator of which is the Percentage Interests of
all Members other than the Defaulting Member. The Option shall be exercisable by an Optionee at any time within 10 days after the date of the First Option Notice by delivering to the Manager written notice of exercise together with payment therefor.

 (ii) The aggregate price for the Defaulting Member’s interest shall be the lesser of: (A) an amount
equal to (1) the balance that would have been in the Defaulting Member’s Capital Account (as defined in Section 7.2) as of the due date of the additional contribution if the Company had terminated on such date and all allocations
necessary to determine the ending Capital Accounts of 

  
 4 

 
the Members had been effected pursuant to Article 7 and Section 12.1, less (2) any distributions made to the Defaulting Member after such due date to the date of purchase of the
Defaulting Member’s interest hereunder (which date shall be the date of payment to the Defaulting Member in accordance with clause (vii), below); and (B) an amount equal to (1) the aggregate amount of the Defaulting Member’s
capital contributions, less (2) any distributions made to the Defaulting Member (with such distributions being valued at fair market value as of the date of the distribution) to the date of purchase of the Defaulting Member’s
interest hereunder. The portion of the price payable by each Optionee shall be determined pro rata according to the portion of the Defaulting Member’s interest purchased by each such Optionee. 

(iii) Should any Optionee not exercise its option within the 10 day period provided in clause (i), above, the Manager shall promptly
notify the Optionees who exercised their options pursuant to clause (i), above (the “Second Option Notice”), each of whom may elect to acquire a portion of the Defaulting Member’s interest not so acquired (the “Remaining
Portion”) by delivering to the Manager, within five days of the date of the Second Option Notice, written notice of the same, which notice shall include a statement of the maximum amount of the Remaining Portion the Optionee would like to
acquire. The portion of the Remaining Portion that may be acquired by each Member shall be determined by the Manager ratably according to the relative maximum amounts that the Members propose to acquire in their notices to the Manager, and the
purchase price therefor shall be paid by the Member to the Company immediately upon demand therefor. No Member, however, shall be required to acquire more of the Remaining Portion than the maximum amount it proposed to acquire in its notice to the
Company. Said acquisition shall be on the same terms as are provided in clause (ii), above. 
 (iv) The amount of the Remaining
Portion not acquired by the Optionees may, in the Manager’s discretion, be sold to one or more other individuals or entities on terms not more favorable to such parties than those applicable to the Optionees. Any consideration received by the
Company for such amount of the Defaulting Member’s interest in excess of the price payable to the Defaulting Member therefor shall be retained by the Company. 
 (v) In the event that not all of the Remaining Portion is acquired in accordance with clauses (i) through (iv), above, then (A) the Defaulting Member shall be entitled only to receive the value
of the unsold Remaining Portion (determined with reference to the aggregate price calculated in accordance with clause (ii), above), payable upon termination of the Company, without interest, and (B) notwithstanding the provisions of Article 7,
the Defaulting Member’s Percentage Interest shall be reduced to zero, allocations shall be made to the Defaulting Member so as to cause its Capital Account balance to equal at all times the amount it is entitled to receive pursuant to clause
(A), above, and allocations which the Defaulting Member would have otherwise received, to the extent not allocable to Optionees, shall be allocated among the other Members according to their respective Percentage Interests in accordance with the
terms of this Agreement. The Defaulting Member shall not be entitled to any distributions other than as contemplated by this clause (v) upon the winding up of the Company. 

(vi) Closing of the transfers contemplated by this Section 6.3(b) shall be on or before the 90th day following the end of the Cure
Period, as specified by the Manager. At such closing, the Manager shall tender the total purchase price to the Defaulting Member and the Defaulting Member 

  
 5 

 
shall accept the same and execute such documents of transfer as the Manager may request. If the Defaulting Member shall not accept the tender or execute said documents, the Manager shall be
entitled to execute the documents of transfer for and on behalf of the Defaulting Member with the same effect as if the Defaulting Member had done so itself, and the contemplated transfers shall be deemed closed once the Manager has deposited the
funds (A) as an interpleader in any court of competent jurisdiction or (B) in a non-interest bearing escrow account at an established financial institution selected by the Manager under instructions that the same may be withdrawn by the
Defaulting Member upon demand. 
 (vii) Upon exercise of any Option hereunder, the successor to the Defaulting Member’s
interest in the Company shall be obligated (A) to contribute to the Company that portion of the additional capital then due from the Defaulting Member equal to the percentage of the Defaulting Member’s interest acquired by such successor
and (B) to pay the same percentage of any further contributions otherwise due from such Defaulting Member attributable to the interest acquired. The Defaulting Member’s Percentage Interest and Capital Account shall be transferred to the
successor to the extent of the Defaulting Member’s interest acquired. 
 ARTICLE 7 

Allocations and Distributions 
 7.1 Books of Account. (a) Maintenance of Books of Account. At all times during the continuance of the Company the Manager shall cause proper and true books of account to be maintained
in conformity with sound accounting principles consistently applied wherein there shall be entered particulars of all monies, goods or effects belonging to or owing to or by the Company, or paid, received, sold or purchased in the course of the
Company’s activities, and all of such other transactions, matters and things relating to the Company as are usually entered in books of account kept by persons engaged in activities of a like kind and character. 

(b) Financial Statements; Tax Returns. The Company’s books of account shall be closed as soon as practicable after the close
of each calendar year (which shall be the Company’s “Fiscal Year”) and an annual compilation, review or audit shall be performed at the expense of the Company by a qualified accountant selected by the Manager. A written report shall
thereafter be provided to each Member containing (i) the financial statements prepared by the accountant and (ii) such other statements as shall be necessary to advise all Members properly about their investment in the Company for income
tax reporting purposes. The Manager shall be responsible for engaging an accountant to prepare and seeing to the filing of all Federal, state and local tax returns on behalf of the Company. 

7.2 Capital Accounts. (a) Capital Accounts. As part of the Company’s books of account, an individual
“Capital Account” shall be maintained for each Member at all times in accordance with Treasury Regulations Section 1.704-1(b). Consistent therewith each Member’s Capital Account shall, inter alia, be
increased by (i) the amount of money contributed by such Member to the Company, (ii) the fair market value of property contributed by such Member to the Company (net of liabilities secured by such contributed property that the Company is
considered to assume or take subject to under Section 752 of the Internal Revenue Code of 1986, as amended from time to time (the “Code”)) and (iii) allocations to such Member of Company income and gain (or items thereof),

  
 6 

 
including income and gain exempt from tax; and decreased by (iv) the amount of money distributed to such Member (as a Member) by the Company, (v) the fair market value of property
distributed to such Member (as a Member) by the Company (net of liabilities secured by such distributed property that such Member is considered to assume or take subject to under Code Section 752), (vi) allocations to such Member of
expenditures of the Company described in Code Section 705(a)(2)(B) and (vii) allocations to such Member of Company loss and deduction (or items thereof). For purposes hereof, a Member who has more than one interest in the Company shall
have a single Capital Account that reflects all such interests, regardless of the class of interests owned by such Member and regardless of the time or manner in which such interests were acquired. In the event any interest in the Company is
transferred in accordance with the terms of this Agreement, the transferee shall succeed to the Capital Account of the transferor to the extent it relates to the transferred interest, in accordance with Treasury Regulations
Section 1.704-1(b)(2)(iv)(l). 
 (b) Events Triggering Adjustments. The Capital Accounts of the Members shall, in
the discretion of the Manager, but only for a substantial non-tax business purpose, be adjusted to reflect a revaluation of Company property on the books of the Company in connection with any one or more of the following events: (i) the
contribution of money or property (other than a de minimus amount) to the Company by a new or existing Member as consideration for an interest in the Company; (ii) the distribution of money or other property (other than a
de minimus amount) by the Company to a terminating or continuing Member as consideration for an interest in the Company; and (iii) on the last day of each Fiscal Year (provided that substantially all of the Company’s property
then consists of securities that are readily tradable on an established securities market and such adjustments are consistent with sound industry accounting practices). The Capital Accounts of the Members’ shall also be adjusted as provided in
the immediately succeeding sentence at such times and in such circumstances as may be specified elsewhere in this Agreement. The Capital Accounts of the Members shall be increased or decreased in accordance with Treasury Regulations
Section 1.704-1(b)(2)(iv)(f) to reflect the manner in which the unrealized income, gain, loss or deduction inherent in such property (that has not been reflected in the Capital Accounts previously) would be allocated among the Members if there
were a taxable disposition of such property for its fair market value (taking into account for such purposes Code Section 7701(g)) on the date of contribution or distribution or on the last day of each Fiscal Year, as the case may be.

 (c) Section 704 Adjustments. The Capital Accounts of the Members shall be adjusted in accordance with Treasury
Regulations Section 1.704-1(b)(2)(iv)(g), as required by Treasury Regulations Sections 1.704-1(b)(2)(iv)(d) and 1.704-1(b)(2)(iv)(f), to the extent applicable, for allocations to them of income, gain, loss or deduction, as computed for book
purposes, with respect to Company property. 
 (d) Valuation of Assets. For purposes of any revaluation under paragraph
(b), above, the assets of the Company shall be valued at fair market value as determined by the Manager in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(h). 

(e) Adjustment to Tax Basis. To the extent an adjustment to the adjusted tax basis of any Company asset is made pursuant to Code
Sections 732,734 or 743, the rules of Treasury Regulations Section 1.704-1(b)(2)(iv)(m) shall be taken into account in determining the Members’ Capital Accounts. 

  
 7 

 7.3 Percentage Interests. (a) Percentage Interests. The Percentage
Interest of each Member is set forth opposite its signature hereto and subject to the voting rights or lack thereof as set forth opposite its signatures hereto and in accordance with the membership certificate. 

(b) Adjustments to Percentage Interests. In the event of any changes in any Member’s Percentage Interest during the Fiscal
Year, the Manager shall take into account the requirements of Code Section 706(d) and shall have the right to select any method of determining the varying interests of the Members during the Fiscal Year which satisfies Code Section 706(d).

 7.4 Distributions of Cash Flow. (a) Definitions. “Available Cash” shall consist of all
cash on hand of the Company irrespective of its source, excluding, however, (i) “Capital Event Proceeds” (as defined below) and (ii) such reserves as the Manager may see fit to establish, which shall be no more than eighty
percent (80%) of the Available Cash. “Capital Event Proceeds” shall consist of the net amount of cash received by the Company from the sale, exchange, refinancing, condemnation, casualty loss or other disposition by the Company
of its assets outside of the ordinary course of business, less (i) the portion thereof disbursed by the Manager for the payment of the Company’s debts and expenses and (ii) such other reserves as the Manager may see fit to establish,
which shall be no more than eighty percent (80%) of the Available Cash. “Unreturned Capital” consists of so much of a Member’s Capital Contributions that have not been returned to such Member by way of distributions under
paragraph (c) and Section 12.3(b), below. 
 (b) Distribution of Available Cash. No less than twenty percent
(20%) of the Available Cash shall be distributed to the Members on monthly or quarterly basis (chosen at the Manager’s discretion) according to their Percentage Interests after payment of all operating expenses. 

(c) Distribution of Capital Event Proceeds. Capital Event Proceeds shall be distributed to the Members in such amounts and at such
times as the Manager shall determine in its discretion but always in the following rank and order: 
  

	 	(i)	Among the Members in proportion to, and to the extent of, their Unreturned Capital or Preferred Membership Unit Percentage Interest. 

 

	 	(ii)	The remainder, if any, among the Members according to their Common Membership Unit Percentage Interests. 

(d) Member Tax Liability. The amount of tax which is required to be paid or withheld by the Company with respect to any
Member’s allocable share of the income of the Company shall be assessed to such Member, who shall pay the same to the Company or the taxing authority forthwith upon demand of the Manager. The Manager may in its discretion set off against any
amounts otherwise distributable to a Member under this Agreement any such tax. Each Member hereby indemnifies the Company and every other Member and agrees to hold them harmless from any liability or loss they might incur by virtue of any such tax
with respect to such Member’s allocable share of the income of the Company. 

  
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 (e) Restrictions on Distributions. Notwithstanding the distributions contemplated by
this Section, if the Company has creditors, no distribution may be made if, after giving effect to such distribution, either (i) the Company would be unable to pay its debts as they become due in the usual course of business or (ii) the
net assets of the Company would be less than zero. 
 7.5 Profit and Loss Allocations. The net profit or net loss of the
Company, determined on an annual basis in accordance with sound accounting principles, shall be allocated as follows: 
 (a)
In the case of a net loss: 
 (i) If any net profits were allocated in any prior Fiscal Year in accordance with
clause (b)(ii), below, then among the Members to the extent of and in proportion to the prior period allocations made to them or their predecessors in accordance with clause (b)(ii), below, not previously eliminated by allocation under this clause.
Allocations hereunder shall be made in the reverse order in which such net profits were originally allocated (i.e., most recent net profit allocations are reversed first). 
 (ii) Then among the Members, to the extent of and in proportion to their Unreturned Capital. 
 (iii) Then among the Members, according to their Percentage Interests; provided, however, that no allocation of loss or deduction shall be made to a Member to the extent such allocation causes or
increases a deficit in such member’s Capital Account balance at the end of the Fiscal Year to which such allocation relates; such loss or deduction shall instead be allocated among the other Members in accordance with their relative Percentage
Interests, subject to the limitations of this sentence. 
 (b) In the case of a net profit: 

(i) If any net losses were allocated in any prior Fiscal Year pursuant to clause (a), above: 

(A) Among the Members to the extent of and in proportion to the prior period allocations made to them or their predecessors in
accordance with clause (a)(iii), above, not previously eliminated by allocation under this clause. Allocations hereunder shall be made in the reverse order in which such net losses were originally allocated (i.e., most recent net loss allocations
are reversed first). 
 (B) Then among the Members to the extent of and in proportion to the prior period allocations made to
them or their predecessors in accordance with clause (a)(ii), above, not previously eliminated by allocation under this clause. Allocations hereunder shall be made in the reverse order in which such net losses were originally allocated (i.e., most
recent net loss allocations are reversed first). 

  
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 (C) Then in accordance with clause (b)(ii), below. 

(ii) If net losses were not previously allocated among the Members pursuant to clause (a), above, or if clause (b)(i)(C), above, applies,
then among all of the Members according to their Percentage Interests. 
 7.6 Tax and Special Allocations.
(a) Book-Tax Differences. In accordance with Code Sections 704(b) and 704(c) and the Treasury Regulations promulgated thereunder, income, gain, loss and deduction with respect to any asset contributed to the capital of the Company shall,
solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for Federal income tax purposes and its fair market value at the time of contribution to the
Company. 
 (b) Qualified Income Offset. In determining whether any Member has a deficit Capital Account for purposes of
Section 7.5(a)(iii), above, the Members’ Capital Accounts shall be reduced for: 
 (i) Adjustments that, as of the end
of the Fiscal Year, reasonably are expected to be made to the Members’ Capital Accounts under Treasury Regulations Section 1.704-1(b)(2)(iv)(k) for depletion allowances with respect to oil and gas properties of the Company, if any.

 (ii) Allocations of loss and deduction that, as of the end of the Fiscal Year, reasonably are expected to be made to the
Members pursuant to Code Section 704(e)(2) and 706(d) and Treasury Regulations Section 1.751-1(b)(2)(ii). 
 (iii)
Distributions that, as of the end of the Fiscal Year, reasonably are expected to be made to the Members to the extent they exceed offsetting increases to the Members’ Capital Accounts that reasonably are expected to occur during (or prior to)
the Fiscal Year in which such distribution is reasonably expected to be made under Treasury Regulations Section 1.704-2(f). For purposes of determining the amount of expected distributions and expected Capital Account increases, the rules set
out in Treasury Regulations Section 1.704-1(b)(2)(iii)(c) shall apply. 
 A Member who unexpectedly receives an adjustment, allocation or
distribution described in clauses (i), (ii) or (iii), above, shall be allocated items of income and gain (consisting of a pro rata portion of each item of Company income, including gross income, and gain for such Fiscal Year) in an amount and
manner sufficient to eliminate such deficit balance as quickly as possible. This paragraph is intended to and in all events shall be interpreted and applied so as to constitute a “qualified income offset” within the meaning of Treasury
Regulations Section 1.704-1(b)(2)(ii)(d). 
 (c) Non-Recourse Deductions. Non-recourse deductions (as defined in
Treasury Regulations Section 1.704-2(b)(1)) shall be allocated in accordance with the Members’ Percentage Interests, pursuant to Treasury Regulations Section 1.704-2(e)(2). Non-recourse deductions attributable to Member non-recourse
debt (as defined in Treasury Regulations Section 1.704-2(b)(4)) shall be allocated to the Member or Members that bear the economic risk of loss for such debt in accordance with Treasury Regulations Section 1.704-2(i)(1). 

(d) Company Minimum Gain. If there is a net decrease in “Company minimum gain” (i.e., partnership minimum gain, as
defined in Treasury Regulations Section 1.704-2(d)) during a 

  
 10 

 
Fiscal Year, each Member with a share of Company minimum gain as of the beginning of the Fiscal Year shall be allocated items of Company income and gain for such Fiscal Year (and, as necessary,
for subsequent years) equal to that Member’s share of the net decrease in Company minimum gain. This paragraph is intended to and shall in all events be interpreted and applied so as to constitute a “minimum gain chargeback” within
the meaning of Treasury Regulations Section 1.704-2(f). 
 (e) Member Non-Recourse Debt Minimum Gain. lf there is a
net decrease in “Member non-recourse debt minimum gain” (i.e., partner non-recourse debt minimum gain, as defined in Treasury Regulations Section 1.704-2(i)(3)) during a Fiscal Year, each Member with a share of Member non-recourse
debt minimum gain as of the beginning of the Fiscal Year shall be allocated items of Company income and gain for such Fiscal Year (and, as necessary, for subsequent years) equal to that Member’s share of the net decrease in Member non-recourse
debt minimum gain. This paragraph is intended to and shall in all events be interpreted and applied so as to constitute a Member “non-recourse debt minimum gain chargeback” within the meaning of Treasury Regulations
Section 1.704-2(i)(4). 
 (f) Member Share of Liabilities. A Member’s share of the liabilities of the Company
shall be determined under Code Section 752 and the Treasury Regulations promulgated thereunder. For purposes of allocating excess non-recourse liabilities under Treasury Regulations Section 1.752-3, the Members’ “interests in...
profits” shall be their Percentage Interests. In the discretion of the Manager, excess non-recourse liabilities may be allocated among the Members in accordance with the manner in which it is reasonably expected that the deductions attributable
to those non-recourse liabilities will be allocated. 
 (g) Recapture Items. In making allocations among the Members of
any Company gain, the ordinary income portion, if any, of such gain caused by the recapture of cost recovery or other deductions shall be allocated among those Members who (or whose predecessors) were previously allocated the cost recovery or other
deductions in proportion to the amount of such deductions previously allocated to them. It is intended that the Members shall bear the burden of recapture caused by cost recovery or other deductions that were previously allocated to them or their
predecessors in proportion to the amount of such cost recovery or other deductions that were allocated to them, notwithstanding that the Members’ Percentage Interests may increase or decrease from time to time. Nothing in this paragraph,
however, shall cause the Members to be allocated more or less gain than would otherwise be allocated to them pursuant to Sections 7.5 and 7.6. 
 (h) Compliance with Code. The allocations contained in this Section are intended to allocate Company tax items in accordance with the Members’ economic interests in the Company while complying
with the requirements of Code Section 704(b) and the Treasury Regulations promulgated thereunder. If in the opinion of counsel to the Company the allocation of tax items pursuant to the provisions of this Section do not (i) satisfy the
requirements of Code Section 704(b) or the Treasury Regulations promulgated thereunder, (ii) comply with any other provision of the Code or Treasury Regulations or (iii) properly take into account any expenditure made by the Company
or transfers of Company interests, then, notwithstanding anything to the contrary contained in this Section, tax items shall be allocated in such manner as the Manager determines so as to reflect properly the foregoing provisions (i) through
(iii), and the Manager shall thereupon have the right to amend this Agreement without action by the Members to reflect any such change in the method of allocating Company tax items; provided, however that any change in the method of allocating tax
items shall not alter the economic agreement among the Members. 

  
 11 

 ARTICLE 8 
 Rights, Duties, Liabilities and 
 Restrictions of the Managers 

8.1 Managers. (a) Generally. As further set forth in this Agreement, the Company shall be managed by the Managers.

 (b) Number. There shall be three Managers of the Company which shall be called the “Board of Managers”.

 (c) Election; Removal; Replacement. The Members do hereby elect the person identified on the first page of this
Agreement as the initial Manager of the Company. The Members, holding at least a majority of the Percentage Interests shall have the authority at any time and from time to time to (i) remove a Manager from office and (ii) appoint a new
Manager whenever there is a vacancy in the office of Manager. 
 (d) Decisions. Whenever the Board of Managers shall be
required to take any action, make any decision or exercise any discretion and there shall be more than one Manager, the action, decision or exercise of discretion shall require the majority approval of the persons appointed in the Board of Manager.

 8.2 Authority of Manager and Board of Managers. (a) Exclusive Right to Manage. Except as otherwise
provided herein, the Board of Managers shall have the sole and exclusive right and authority to manage, control and conduct the affairs of the Company. The Board of Managers shall make all decisions affecting the affairs and business of the Company
and shall carry out the purposes of the Company as set forth herein. 
 (b) No Duty to Inquire. Nothing herein contained
shall impose any obligation on any person or firm doing business with the Company to inquire as to whether or not a Manager or the Board of Managers has exceeded its power and authority in executing any contract, lease, mortgage, security agreement,
deed or other instrument on behalf of the Company, and any such third person shall be fully protected in relying upon such authority. 
 (c) Tax Elections. The Board of Managers shall have the right to make (and revoke) any and all tax elections for the Company, including, without limitation, an election to adjust the tax basis of
Company assets. 
 (d) Proscriptions. Without the written consent or ratification of all of the Members, the Board of
Managers shall have no authority to expend or use Company money or property other than on the account and for the benefit of the Company or to pledge any of the Company’s credit or property for other than Company purposes. 

  
 12 

 (e) Major Decisions. Notwithstanding any other provisions of this Agreement, the
Board of Managers shall not be authorized to take, and shall not take, any of the actions or make any of the decisions that are listed on APPENDIX A hereto (each a “Major Decision”) without the unanimous consent of the Members
holding all of the voting Percentage Interests, including without limitation all Members holding Preferred Membership Units. 

8.3 Bank Accounts. Pending any expenditure or long-term investment, all funds of the Company shall be deposited in the Company
name in such bank account or accounts as shall be designated by the Board of Managers. All withdrawals therefrom shall be made upon the signature of such person or persons as the Manager may designate. 

8.4 Compensation of Managers and Board of Managers. During the term of the Company, the Board of Managers shall be entitled to any
fees or other remunerations for its services as Managers of the Company as determined by the Board of Managers. 
 8.5
Expenditures by Manager. The Company shall reimburse a Manager for any costs that may be properly expended by a Manager on behalf of the Company made out of funds other than those of the Company. 

8.6 Liability of Manager and Board of Managers. A Manager or Board of Managers (which for purposes of this Section 8.6 and
Section 8.7 shall include its partners, officers, directors, shareholders, members, managers, employees, agents and affiliates) shall not be liable to a Member or the Company for mistakes of judgment made in good faith, or for action or
inaction, taken reasonably and in good faith for a purpose that was reasonably believed to be in the best interests of the Company, or for losses due to such mistakes, action or inaction, or for the negligence, dishonesty or bad faith of any
employee, broker or other agent of the Company, provided that such employee, broker or agent was selected, engaged or retained and supervised with reasonable care. A Manager or Board of Managers may consult with counsel and accountants in respect of
Company affairs and be fully protected and justified in any action or inaction that is taken in accordance with the advice or opinion of such counsel or accountants, provided that they shall have been selected with reasonable care. The Members shall
look solely to the assets of the Company for the return of their capital and, if the assets of the Company remaining after payment or discharge of the debts and liabilities of the Company are insufficient to return such capital, they shall have no
recourse against A Manager or the Board of Managers for such purpose. Notwithstanding any of the foregoing to the contrary, the provisions of this Section shall not be construed to relieve (or attempt to relieve) any person of any liability by
reason of gross negligence, recklessness or intentional wrongdoing or to the extent (but only to the extent) that such liability may not be waived, modified or limited under applicable law, but shall be construed so as to effectuate the provisions
of this Section to the fullest extent permitted by law. 
 8.7 Indemnification. (a) Indemnification for Actions.
The Company shall indemnify any person who was or is a party, or is threatened to be made a party, to any threatened, pending or completed action, suit or proceeding (other than an action by or in the right of the Company), whether civil,
criminal, administrative or investigative, by reason of the fact that the person is or was a manager, member, officer, employee or agent of the Company, or is or was serving at the request of the Company as a director, officer, manager, employee or
agent of another limited liability company, 

  
 13 

 
corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably
incurred by the person in connection with the action, suit or proceeding, if the person acted in good faith and in a manner the person reasonably believed to be in, or not opposed to, the best interests of the Company or, with respect to any
criminal action or proceeding, had no reasonable cause to believe the person’s conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere or its
equivalent shall not, of itself, create a presumption that the person did not act in good faith and in a manner that the person reasonably believed to be in, or not opposed to, the best interests of the Company or, with respect to any criminal
action or proceeding, that the person had reasonable cause to believe that the person’s conduct was unlawful. 
 (b)
Indemnification for Actions By or in the Right of the Company. The Company shall indemnify every person who was or is a party, or is threatened to be made a party, to any threatened, pending or completed action or suit, by or in the right of
the Company to procure a judgment in its favor by reason of the fact that the person is or was a manager, member, officer, employee or agent of the Company, or is or was serving at the request of the limited liability company as a director, officer,
manager, employee or agent of another limited liability company, corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorney’s fees) actually and reasonably incurred by the person in connection with
the defense or settlement of the action or suit, if the person acted in good faith and in a manner the person reasonably believed to be in, or not opposed to, the best interests of the Company, provided that no indemnification shall be made in
respect of any claim, issue or matter as to which the person shall have been specifically adjudged to be liable for gross negligence or intentional misconduct in the performance of the person’s duty to the Company, unless, and only to the
extent that, the court in which the action or suit was brought shall determine upon application that, despite the adjudication of liability, but in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity
for those expenses as the court shall deem proper. 
 (c) Expenses. To the extent that a manager, officer, employee or
agent of the Company has been successful, on the merits or otherwise, in the defense of any action, suit or proceeding referred to in paragraph (a) or (b), above, or in defense of any claim, issue or matter therein, the person shall be
indemnified against expenses (including attorney’s fees) actually and reasonably incurred by the person in connection therewith. 
 (d) Determination. Any indemnification under paragraphs (a) and (b), above (unless ordered by a court), shall be made by the Company only as authorized in the specific case, upon a
determination that indemnification of the director, officer, manager, employee or agent is proper in the circumstances because the person has met the applicable standard of conduct set forth in either paragraph (a) or (b), above. The
determination shall be made by Members holding all of the Percentage Interests. 
 (e) Payment in Advance. Expenses
incurred in defending a civil or criminal action, suit or proceeding may be paid by the Company in advance of the final disposition of the action, suit or proceeding, as authorized by the Board of Managers in the specific case, as provided in
paragraph (d), above, upon receipt of an undertaking by or on behalf of the director, officer, manager, employee or agent to repay that amount, unless it shall ultimately be determined that the person is entitled to be indemnified by the limited
liability company as authorized in this Section 8.7. 

  
 14 

 (f) Indemnification Not Exclusive. The indemnification provided by this
Section 8.7 shall not be deemed exclusive of any other rights to which those seeking indemnification may be entitled under the Company’s Certificate of Formation, or any agreement, vote of members or disinterested managers, or otherwise,
both as to action in the person’s official capacity and as to action in another capacity while holding office, and shall continue as to a person who has ceased to be a director, officer, manager, employee or agent, and shall inure to the
benefit of the heirs, executors and administrators of such person. 
 (g) Insurance. The Company shall purchase and
maintain insurance on behalf of any person who is or was a manager, officer, employee or agent of the Company, or who is or was serving at the request of the Company as a director, officer, manager, employee or agent of another limited liability
company, corporation, partnership, joint venture, trust or other enterprise, against any liability asserted against the person and incurred by the person in any capacity, or arising out of the person’s status as such, whether or not the Company
would have the power to indemnify the person against the liability under the provisions of this Section 8. 7. 
 (h)
Report to Members. If the Company has paid indemnity or has advanced expenses to a manager, officer, director, employee or agent, the Company shall report the indemnification or advance in writing to the Members. 

(i) Definitions. For purposes of this Section, references to “other enterprises” shall include employee benefit plans;
references to “fines” shall include any excise taxes assessed on a person with respect to an employee benefit plan; and references to “serving at the request of the Company” shall include any service as a manager, employee or
agent of the Company that imposes duties on, or involves services by the manager, employee or agent with respect to an employee benefit plan, its participants or beneficiaries. A person who acted in good faith and in a manner the person reasonably
believed to be in the best interests of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Section 8.7.

 8.8 Tax Matters Member. The Board of Managers shall appoint the Company’s “Tax Matters Partner” as
defined in Code Section 6231(a)(7) (the “TMP”). The TMP may be either the Manager or an individual appointed by the Manager. The TMP shall have the right to resign by giving 30 days written notice to the Members. Upon the resignation
of the TMP, a successor TMP shall be selected by the Board of Managers. The TMP shall employ experienced tax counsel to represent the Company in connection with any audit or investigation of the Company by the Internal Revenue Service (the
“Service”) and in connection with all subsequent administrative and judicial proceedings arising out of such audit. The Company shall not be obligated to pay any fees or other compensation to the TMP in its capacity as such; provided,
however, that all reasonable expenses incurred by the TMP in serving as the TMP shall be a Company expenses and the TMP shall be reimbursed by the Company in connection therewith. Notwithstanding the foregoing, it shall be the responsibility of the
Board of Managers and of each Member, at their expense, to employ tax counsel to represent their respective separate interests. If the TMP is required by law or regulation to incur 

  
 15 

 
fees and expenses in connection with tax matters not affecting each of the Members, then the TMP may, in its sole discretion, seek reimbursement from or charge such fees and expenses to the
Capital Accounts of those Members on whose behalf such fees and expenses were incurred. The TMP shall keep the Members informed of all administrative and judicial proceedings, as required by Code Section 6223(g), and shall furnish to each
Member who so requests in writing a copy of each notice or other communication received by the TMP from the Service, except such notices or communications as are sent directly to such Member by the Service. The relationship of the TMP to the Members
is that of a fiduciary, and the TMP has a fiduciary obligation to perform its duties as TMP in such manner as will serve the best interests of the Company and all of the Members. To the fullest extent permitted by law, the Company agrees to
indemnify the TMP and its agents and save and hold them harmless, from and in respect of (i) all reasonable fees, costs and expenses in connection with or resulting from any claim, action or demand against the TMP, the Manager, the Board of
Managers, or the Company that arise out of or in any way relate to the TMP’s status as TMP for the Company, and (ii) all such claims, actions and demands and any losses or damages therefrom, including amounts paid in settlement or
compromise of any such claim, action or demand; provided, however, that this indemnity shall not extend to conduct by the TMP adjudged (i) not to have been undertaken reasonably and in good faith to promote the best interests of the Company or
(ii) to have constituted gross negligence, recklessness or intentional wrongdoing by the TMP. 
 8.9 Officers of the
Company. The Board of Managers may from time to time appoint one or more persons to serve as officers of the Company, in such capacities and with such delegated rights and powers as the Board of Managers may approve; provided, however, that no
such officer shall have any different or greater rights and powers than a Manager or Board of Managers has under this Agreement. Officers appointed by the Board of Managers shall be entitled to be indemnified by the Company in accordance with
Section 8.7. 
 ARTICLE 9 
 Membership 
 9.1 Rights and Obligations of the Members. Except as
otherwise provided in this Agreement to the contrary, the Members shall take no part in the control or management of the affairs of the Company, nor shall a Member have any authority to act for or on behalf of the Company or to sign for or bind the
Company. 
 9.2 Voting Rights. Should this Agreement expressly provide that any matter be put to the
Members for a vote or for approval, the Members shall be entitled to vote or signify the extent of their approval in proportion to their Percentage Interests. By way of illustration, a Member with a Percentage Interest of 25.5 percent shall be
deemed to have 25- 1/2 votes out of 100 possible votes. 
 9.3 Liability. Except for a
Member which guarantees a debt obligation of the Company or otherwise undertakes personal obligations as provided in another agreement or instrument to the contrary, no Member shall be personally liable for any of the debts of the Company or any of
the losses thereof beyond the amount contributed or required to be contributed by it to the Company under this Agreement and as otherwise specified in the Act. 

  
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 9.4 Expenditures of Members. In the discretion of the Manager, the Company shall
reimburse the Members for any costs that may be properly expended by them on behalf of the Company made out of funds other than those of the Company. 
 9.56 Meetings of Members. (a) Regular Meetings. Regular meetings of the Members may be held on an annual or less frequent basis, as specified by the Board of Managers or the Members
from time to time. If a regular meeting of the Members has not been held during the immediately preceding 15 months, the Members owning not less than 10 percent of the Percentage Interests may demand a regular meeting by written notice given to all
Members. Within 30 days after receipt of such a demand, the Manager or the Members shall cause a regular meeting of the Members to be called and held. 
 (b) Special Meetings. A special meeting of the Members may be called for any purpose at any time by the Manager or Members owning not less than 10 percent of the Percentage Interests. No Member may
call a special meeting more than once every six months in the same calendar year. 
 (c) Place of Meetings. The Manager
or the Members calling the meeting may designate the principal office as the Company as the place at which any regular or special meeting of the Members shall be held or such other place as may be designated by the Manager. 

(d) Notice. Notice stating the place, day and hour of the meeting and, in the case of a special meeting, the purpose for which the
meeting is called, shall be delivered to the Manager and the Members not less than 10 nor more than 50 days before the date of the meeting, by or at the direction of the Members calling the meeting, to each Member of record entitled to vote at such
meeting. 
 (e) Meeting Without Notice. If all of the Members shall meet at any time and place, and consent to the
holding of a meeting at such time and place, such meeting shall be valid without call or notice. 
 (f) Record Date. For
the purpose of determining Members entitled to notice of or to vote at any meeting of Members, the date on which notice of the meeting is mailed shall be the record date for such determination. 

(g) Quorum; Voting. Members entitled to vote on a matter and representing not less than 75 percent of the Percentage Interests of
the Members, represented in person or by proxy, shall constitute a quorum for consideration of that matter at any meeting of the Members. Unless otherwise stated in this Agreement, if a quorum is present, the vote of Members holding not less than 75
percent of the Percentage Interests shall be the act of the Members. 
 (h) Proxies. A Member may appoint a proxy to vote
or otherwise act for him at any meeting of the Members by signing an appointment form and delivering it to the person so appointed. Such proxy shall be filed with the Company before or at the time of the meeting. Unless otherwise provided in the
proxy, any proxy may be revoked at any time prior to the vote pursuant to such proxy by written notice delivered to the Company. 

  
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 (i) Action Without Meeting. Any action required or permitted to be taken at a meeting
of the Members may be taken without a meeting, without prior notice and without a vote if a consent or consents in writing setting forth the action so taken, shall be signed by the Members having not less than the minimum number of votes that would
be necessary to authorize or take such action at a meeting at which all Members entitled to vote thereon were present and voted. 
 (j) Telephone Meetings. Members may participate and act at any meeting through the use of a conference telephone or other communications equipment by means of which all persons participating in the
meeting can hear and speak to each other. 
 ARTICLE 10 

Admission of Additional Members; Assignment Provisions 
 10.1 Additional Members and Membership Interests. (a) Additional Members and Membership Interests. The Board of Managers may admit one or more additional Members for consideration by a
majority vote of the members which hold all of the voting Percentage Interests. The Board of Managers may issue additional membership interests to existing Members provided however, all existing Members holding voting interests shall have a right of
first refusal, for the purchase of the membership interests to existing Members and as expressly provided elsewhere in this Agreement. The Board of Managers may issue additional membership interests to new Members; provided, however, that all
existing Members holding voting interests shall have a right of first refusal prior to the issuance of any additional membership interests to acquire such interests, in proportion to their interests in the Company, on the terms and at the price that
such additional interests are being offered by the Board of Managers. 
 (b) Adjustment of Percentage Interests. Upon the
admission of one or more additional Members or upon the issuance of additional membership interests to existing Members, the Board of Managers is authorized to adjust the Percentage Interests of the Members to reflect the dilution required to admit
such additional Members or issue such additional membership interests to existing Members. Any such dilution shall be in proportion to the Members’ Percentage Interests. The Percentage Interest to be granted shall be determined by the Manager
taking due account of the value of the additional Member’s capital contribution and commitment or the existing Member’s further capital contribution and commitment in relation to the value of the Company upon admission. 

(c) Rights and Obligations of Additional Members. Additional Members shall be entitled to all of the rights and privileges of the
original Members hereunder and shall be subject to all of the obligations and restrictions hereunder, and in all other respects their admission shall be subject to all of the terms and provisions of this Agreement. 

10.2 General Provisions. The following rules shall apply to transfers of Company interests and the admission of additional persons
to the Company: 
 (a) Procedure for Admission. No person shall be admitted as a transferee or additional Member
hereunder unless and until (i) in the case of an assignment of an interest in the Company permitted hereby, the assignment is made in writing, signed by the assignor and accepted in writing by the assignee, and a duplicate original of the
assignment is delivered to and accepted by the 

  
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Manager, and (ii) the prospective admittee executes and delivers to the Company a written agreement, in form and substance satisfactory to the Board of Managers, pursuant to which said
person agrees to be bound by and confirms the covenants, representations, warranties and power of attorney contained herein. 

(b) Binding Effect. Any person acquiring or claiming an interest in the Company, in any manner whatsoever, shall be subject to and
bound by all terms, conditions and obligations hereof to which its predecessor in interest, if any, was subject or bound, without regard to whether such person has executed a counterpart hereof or any other document contemplated hereby. No person,
including the legal representatives, heirs or legatees of a deceased Member, shall have any rights or obligations greater than those set forth herein and no person shall acquire an interest in the Company or become a Member except as permitted
hereby. 
 (c) Actions Prior to Acceptance of Assignment. The Company and the Manager shall be entitled to treat the
assignor of the assigned interest as the absolute owner thereof in all respects and shall incur no liability for distributions made in good faith to such assignor prior to such time as the documents specified in paragraph (a), above, have been
delivered to and accepted by the Manager. 
 (e) Consent of Members. Each Member hereby consents to the substitution of
any assignee of a Member’s interest or the admission of any additional person as a Member as approved by the Manager and the vote of the Members which hold all of the Percentage Interests. 

(f) Costs. The costs incurred by the Company in processing an assignment (including attorney’s fees) shall be borne by the
assignee, and shall be payable prior to and as a condition of admission to the Company. 
 10.3 Transfers by the Manager
Prohibited. The Manager’s interest in the Company is that of an agent of the Company and is not susceptible of being sold, assigned, pledged, mortgaged or otherwise disposed of or transferred. Insofar as the Manager may also be a Member,
Section 10.4 shall govern the transfer of the Manager’s membership interest. 
 10.4 Transfers by Members.
(a) Continuation of Company Upon Certain Events. The death, disability, court declaration of incompetence, bankruptcy, dissolution, liquidation or other dissociation of a Member shall not dissolve the Company, but it shall be continued
with the successor or legal representative of the Member; such successor or legal representative shall, to the extent of the interest acquired, be entitled only to the predecessor Member’s rights, if any, in the capital, profits and losses and
distributions of the Company, and no such person shall have any right to participate in the management of the affairs of the Company or vote on any Company matter without the written consent of the Manager and the vote of the Members which hold all
of the Percentage Interests. 
 (b) Restrictions of Transfer. In addition to the general restrictions set forth herein,
no Member shall sell, exchange, pledge, mortgage, hypothecate or otherwise transfer or encumber its interest in the Company without the prior written consent of the Board of Managers and the vote of the Members which hold all of the Percentage
Interests. Any such transfer or encumbrance in violation of this paragraph shall be void from inception and of no force or effect whatsoever. 

  
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 (c) Permitted Transferees. The Board of Managers and the Members shall not
unreasonably withhold or delay their respective consents to a transfer of all or any part of a Member’s interest (i) to such Member’s spouse; (ii) to a lineal descendant or ancestor of such Member or a spouse of any of the
foregoing; (iii) to a trust established for the benefit of the Member or any person described in clauses (i) or (ii), above; (iv) to any entity wholly-owned and controlled by the Member or any person described in clauses (i),
(ii) or (iii), above; or (v) to any other Member. A transferee described in clauses (i) through (iv), above, is referred to herein as a “Permitted Transferee.” 

(d) Options to Purchase Member Interests. (i) If any Member shall receive a bona fide written offer (the “Offer”)
to sell for cash all (but not less than all) of its interest in the Company (the “Offered Interest”), and such Member desires to sell the Offered Interest, such Member (the “Selling Member”) shall promptly furnish the Manager and
each other Member (the “Other Members”) with notice thereof (the “Option Notice”), as well as a copy of the Offer. The provisions of this paragraph (d) shall not apply to a transfer described in paragraph (c), above. 

(ii) The Other Members shall have the right and option (the “Option”), and each Other Member may elect, by written notice to
the Manager and the Selling Member on or before the 60th day following receipt of the Option Notice, to purchase the Offered Interest upon the express terms and conditions and at the purchase price set forth in the Offer. Said notice from one of the
Other Members to the Manager and the Selling Member shall specify the maximum amount of the remaining Offered Interest that the Other Member would like to acquire. The portion of the Offered Interest that may be acquired by each Other Member shall
be determined by the Manager ratably according to the relative maximum amounts that the Other Members propose to acquire in their notices to the Manager and the Selling Member. No Other Member, however, shall be required to acquire more than the
maximum portion of the remaining Offered Interest that it offered to acquire. If pursuant to the foregoing sentences the Members do not elect to acquire all of the Offered Interest, the Company shall have an option, which shall continue for 15 days
after the termination of the Option hereafter specified (the “Second Option Period”), to acquire such portion of the remaining Offered Interest that is not acquired by the Other Members. 

(iii) If any one or more or all of the Other Members and/or the Company elect to exercise their respective options to acquire the entire
Offered Interest, the Selling Member shall sell and assign the Offered Interest to the Other Members and/or the Company, in the proportions described above, which sale and assignment shall be closed at the Company’s principal office at any time
on or before the 60th day following the Manager’s receipt of the Option Notice or on such later date certain for closing contained in the Offer, as the Manager may select. 

(iv) In the event that the Other Members and/or the Company do not in the aggregate purchase all of the Offered Interest as described
above, the right of first refusal options provided to the Other Members and/or the Company in this paragraph shall be deemed to have lapsed and expired. Thereupon the Selling Member shall be entitled to sell and assign the Offered Interest to the
offeror; provided, however, that such sale or assignment (A) is consummated pursuant to all of the terms and conditions set forth in the Offer, including but not limited to the purchase price and terms of payment for the Offered Interest, or on
terms and conditions not more favorable to the offeror 

  
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purchaser, and (B) is closed within 90 days of the date the Offer was originally received by the Selling Member or on such later date certain for closing contained in the Offer. The
purchaser of the Offered Interest shall, to the extent of the interest acquired, be entitled only to the predecessor Member’s rights, if any, in the capital, profits and losses and distributions of the Company, and no such person shall have any
right to participate in the management of the affairs of the Company or vote on any Company matter without the consent of the Manager and the Members which hold all of the Percentage Interests. 

(v) In the event that the Other Members and/or the Company elect not to exercise the options granted pursuant to this paragraph
(d) to purchase all of the Offered Interest, then each of the Other Members shall have the option to “tag-along” with the Selling Member as provided below. During the 15 day period following expiration of the Second Option Period,
each of the Other Members may exercise an option upon written notice to the Selling Member to sell to the proposed transferee the interest in the Company of such Other Member up to the Percentage Interests that equals (i) the percentage of
Offered Interests multiplied by (ii) a fraction, the numerator of which is the Percentage Interests owned by such Other Member and the denominator of which is 100 percent. If any of the Other Members exercise the option granted under this
Section, the interests to be sold to the proposed transferee shall consist of the Percentage Interests to be sold by the Other Members pursuant to this Section with the remainder of the Offered Interest to be sold by the Selling Member. All of the
Percentage Interests shall be sold on the same terms and conditions and for the same price as set forth in the offer. The costs associated with the sale shall be borne by all persons selling Percentage Interests in proportion to the Percentage
Interests sold. Any sale pursuant to this paragraph must be made within the same period as provided in Section 10.4(d) or else Section 10.4 and this clause shall again apply. As a condition precedent to the proposed transferee receiving
assignment of Offered Interest under this Section 10.4, the proposed transferee must execute and deliver a duplicate of this Agreement agreeing to be bound as a Member party hereto. 

10.6 Redemption of Interests. (a) Events Triggering Redemption. The interests of any Member in the Company shall be
subject to redemption for “cause” in accordance with this Section. As used herein, the term “cause” shall mean the following: 
  

	 	(i)	Willful or serious misconduct by the Member with respect to the business, operations or assets of the Company as specifically determined and adjudicated by a jury of
peers. 

  

	 	(ii)	Fraud or misrepresentation on the part of the Member, whether or not with respect to the business or affairs of the Company, which affects the business, operations,
assets or reputation of the Company as specifically determined and adjudicated by a jury of peers. 

  

	 	(iii)	The Member’s conviction of a felony crime with a specific finding of moral turpitude. 

 

	 	(iv)	A transfer by the Member of its interest in the Company in violation of this Agreement. 

  
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	 	(v)	A breach by the Member of any written agreement or instrument between the Member and the Company or between the Member and any other Member. 

 

	 	(vi)	An attempt by the Member to partition the property of the Company in violation of this Agreement. 

 

	 	(vii)	An attempt by the Member to withdraw from the Company in violation of this Agreement. 

 The interests of all transferees, successors or assignees of a Member (including a Permitted Transferee) shall also be subject to redemption under this Section if the transferee, successor or assignee has
engaged in any of the acts described in the clauses set forth above or if, in the case of a partial assignment, the assigning Member (while a Member) has engaged in any of the acts described in the clauses set forth above. 

(b) Determination by Manager. The election to redeem a Member’s interest in the Company in accordance with this Section shall
be made by the Board of Managers. 
 The Manager shall recuse himself from such decision if it is its act or the act of its affiliated Member
(or any of their successors or assigns) that gave rise to the right of redemption, in which event the election whether to redeem shall be made by Members holding a majority of the Percentage Interests (disregarding all those Members whose act (or
whose affiliated Manager’s acts) gave rise to the right of redemption) (such Members shall then administer the redemption process set forth in this Section in lieu of the Manager). A Manager so recused shall not be precluded from challenging
the redemption on the basis that the Manager (or affiliated Member) did not engage in one of the acts described paragraph (a), above. 
 (c) Redemption Notice. Upon a determination by the Manager to redeem which is made in accordance with paragraph (b), above, written notice (the “Redemption Notice”) shall be sent by the
Manager to any such Member (any such Member or other person sent a Redemption Notice being referred to as a “Redeeming Member”) effecting the complete redemption of such Member’s entire interest in the Company. 

(d) Purchase Price. The purchase price (the “Purchase Price”) of a Redeeming Member’s interest shall equal
(i) 75 percent of the amount that the Redeeming Member would have received had the Company (A) sold all of its assets at their fair market values as of the date the Redemption Notice was given, (B) satisfied all of its
obligations and (C) made liquidating distributions to the Members in accordance with Article 12 hereof, less (ii) any distributions made to the Redeeming Member after the date the Redemption Notice is given to the date of
purchase of the Redeeming Member’s interest hereunder. The fair market values of the Company’s assets shall be determined by the Manager. 
 (e) Payment of Purchase Price. The Purchase Price shall be paid in the form of an unsecured promissory note (the “Note”) payable to the Redeeming Member and payable over a five year term.
The principal amount of the Note shall bear interest at the lowest Applicable Federal Rate applicable to the term of the Note as of the date of closing. Level payments of interest and principal

  
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shall be made on the note on a quarterly basis to fully amortize the principal balance over the term of the Note. The first payment under the Note shall be due 90 days after the closing date. The
Note shall be prepayable at any time and from time to time. 
 (f) Closing. Closing of any redemption under this Section
shall be on or before the 90th day following the date the Redemption Notice is given, as specified by the Manager. At such closing, the Company shall tender the Note to the Redeeming Member and the Redeeming Member shall accept the same and execute
such documents of transfer as the Manager may request. If the Redeeming Member shall not accept the tender or execute said documents, the Manager shall be entitled to execute the documents of transfer for and on behalf of the Redeeming Member, with
the same effect as if the Redeeming Member had done so itself, and the contemplated transfer shall be deemed closed once the Manager has deposited the Note (i) as an interpleader in any court of competent jurisdiction or (ii) in a
non-interest bearing escrow account at an established trust or banking institution, under instructions that the same (and any payments made under the Note after such deposit) may be withdrawn by the Redeeming Member upon demand. The closing of a
redemption as contemplated in this paragraph shall not prejudice a Redeeming Member’s right to contest the amount of the Purchase Price but a Redeeming Member shall not be permitted to contest the closing as contemplated by this paragraph.

 10.7 Buy-Sell Procedure. (a) Purchase Notice. At any time after the date of this Agreement, any Member
(the “Notifying Member”) may give written notice (the “Purchase Notice”) to the other Member (the “Responding Member”) stating a single cash price per Percentage Interest at which the Notifying Member is willing to
either (i) offer all of its interests in the Company for sale to the Responding Member, or (ii) buy all of the Responding Member’s interests in the Company. 
 (b) Response Notice. The Responding Member shall have an option to purchase the Notifying Members by delivering a written notice to the Notifying Member within 30 days of the receipt by the
Responding Member of the Purchase Notice stating that they are willing to buy all of the Notifying Member’s interests in the Company or sell the Responding Member’s interest, as the case may be, at the single price set forth in the
Purchase Notice (the “Response Notice”). 
 (c) Failure to Respond. lf the Responding Member does not deliver
the Response Notice to the Notifying Member as set forth herein, then the Responding Member shall be deemed to have declined to purchase the Notifying Member’s interests in the Company and have accepted the offer of the Notifying Member to
purchase the Responding Member’s interests in the Company at the single cash price set forth in the Purchase Notice. 
 (d)
Closing. The closing of any purchase made under this Section shall be held at the principal place of business of the Company, on a date designated by the Member who is purchasing the interests in the Company, but in no event later than 30
days after the date when all existing options to purchase interests in the Company have been exercised or have expired. At the closing, payment of the purchase price for the interests in the Company purchased pursuant to the exercise of an option
arising under this Section shall be paid in full by certified or cashier’s check. 

  
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 ARTICLE 11 
 Resignations, Withdrawals, Priorities and Loans 
 11.1 Resignations and
Withdrawals. No Member shall be entitled to withdraw or resign from the Company, except pursuant to the terms of this Agreement. No Member shall be entitled to receive any money or property from the Company except (a) by way of
distributions upon the winding up of the Company pursuant to Article 12, (b) by way of distributions of cash flow as provided pursuant to Section 7.4, (c) in respect of any bona fide loans to the Company then due and owing and
(d) as expressly provided elsewhere in this Agreement. 
 11.2 Priorities. Except as expressly provided in this
Agreement to the contrary, no Member shall have a priority right as to withdrawals, distributions or the return of contributions. 
 11.3 Interest on Capital Contributions. No interest shall be allowed to any Member upon the amount of its Capital Contributions or Capital Account, except for any so-called preferred returns as may
be expressly provided in Section 7.4, above. 
 11.4 Loans from Members. Should the Manager determine that the
Company requires funds that it cannot or should not borrow from an independent lender and that it would be prudent to borrow such funds from a Member or an affiliate of a Member, then prior to accepting any such funds: 

(a) Notice to Members. The Manager shall send to each Member a notice (the “Loan Notice”), which shall advise each
Member of the total amount of funds which the Company seeks to borrow (the “Loan Amount”), the terms of the proposed borrowing (including the rate of interest and the collateral security, if any) and the date on which such funds are
required (the “Loan Date”). The Loan Date shall be not less than five days after the Loan Notice. Said borrowing may be secured or unsecured, as determined by the Manager in its sole discretion, but shall be evidenced by one or more
promissory notes and ancillary agreements as are customary. 
 (b) Election to Participate. Within five days of the date
of the Loan Notice, Members may elect to participate in the borrowing by delivering to the Manager written notice of the same, together with its portion of the Loan Amount. The portion of the Loan Amount which each Member may elect to lend to the
Company shall be determined pro rata according to the Members’ Percentage Interests. Any portion of the Loan Amount not loaned by the Members in accordance with this Section may be loaned by any Member of affiliate of a Member as the Manager
may determine. 
 ARTICLE 12 
 Winding Up 
 12.1 Liquidation Procedures. Upon termination of the
Company pursuant to Article 5, the affairs of the Company shall be wound up and the Company shall be dissolved. As part of the winding up of the Company, a proper accounting shall be made of the net profit or net loss of the Company from the date of
the last previous accounting to the date of termination. 
 12.2 Liquidating Trustee. Upon the winding up of the Company
business for any reason, the Manager shall act as “Liquidating Trustee” or shall elect a Liquidating Trustee. If a Manager has been removed, has withdrawn or is unwilling or unable to act as or elect a Liquidating Trustee, such

  
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Manager’s successor and the remaining Managers shall act as or elect a Liquidating Trustee. The Liquidating Trustee shall have full power to sell, assign and encumber Company assets. All
certificates or notices required by law shall be filed on behalf of the Company by the Liquidating Trustee. 
 12.3
Distribution on Winding Up. In the event of the winding up of the Company for any reason, the proceeds of liquidation shall be applied by the end of the Fiscal Year in which the liquidation occurs or, if later, within 90 days after the date
of such liquidation, in the following rank and order: 
 (a) Creditors. To the creditors of the Company, including
Members who are creditors, in satisfaction of liabilities of the Company, all in the order of priority and to the extent provided by law. 
 (b) Members. Among the Members, in accordance with Section 7.4(c). 

12.4 Liquidating Trust. In the discretion of the Liquidating Trustee, a pro rata portion of the distributions that would otherwise
be made to the Members pursuant to Section 12.3 may be distributed to a trust established for the benefit of the Members for the purposes of liquidating Company assets, collecting amounts owed to the Company and paying any contingent or
unforeseen liabilities or obligations of the Company arising out of or in connection with the Company. The assets of any such trust shall be distributed to the Members from time to time in the reasonable discretion of the Liquidating Trustee, in the
same proportions as the amount distributed to such trust by the Company would otherwise have been distributed to the Members pursuant to this Agreement. 
 12.5 Distributions In Kind. In the event the Liquidating Trustee determines that it is necessary or desirable to make a distribution of Company property in kind, such property shall be transferred
and conveyed to the distributees as tenants in common so as to vest in them undivided interests in the whole of such property in proportion to their respective rights to share in the proceeds of the sale of such property in accordance with the
provisions of Section 12.3. All such Company property shall be valued at fair market value as determined by the Liquidating Trustee, and shall be subject to such reasonable conditions and restrictions as are necessary or advisable in order to
preserve the value of the assets distributed or for legal reasons. 
 12.6 Partition. No Member shall have the right to
partition any property of the Company during the term of this Agreement, or while such assets are held in trust pursuant to Section 12.4, nor shall any Member make application to any court of authority having jurisdiction in the matter or
commence or prosecute any action or proceeding for such partition and the sale thereof, and upon any breach of the provisions of this Section by any Member, the other Members, in addition to all of the rights and remedies in law and in equity that
they may have, shall be entitled to a decree or order restraining and enjoining such application, action or proceeding. 

  
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 ARTICLE 13 
 Conflicts and Covenants 
 13.1 Manager’s Time Commitment. The
Manager shall cause so much time to be devoted to the business of the Company as, in its judgment, the conduct of the Company’s business shall reasonably require. 
 13.2 Related Business Partners. The Company may employ, contract for services with, acquire or sell goods, property and materials from or to and otherwise deal with any Member or Manager or any
affiliate of any Member or Manager, on any basis which is customary and competitive, or otherwise fair and reasonable. 
 13.3
Competitive Undertakings. Any Manager or Member may engage in business ventures of any nature and description independently or with others. However, the Members and any Manager agree that until they are no longer a Member or a Manager they
will not pursue any opportunities in the business of the character described in Article 3 (or any part thereof). Neither the Company nor any of the Members shall have any rights in or to such independent ventures or the income or profits derived
therefrom. 
 13.4 Confidentiality. (a) Restriction on Disclosure. Each Member (which term, for purposes of
this Section only, includes the Manager, whether or not the Manager is a Member) recognizes and acknowledges that by virtue of its relationship with the Company it may be exposed to, discover, develop, generate or contribute to the Company’s
Confidential Information (as defined below). Each Member agrees that it will not, at any time or in any manner, either directly or indirectly, publish, communicate, divulge, disclose, disseminate or otherwise reveal to any person or entity, or use
for any purpose whatsoever any Confidential Information, except as may be necessary in the course of performing authorized services for the Company or as may be required by applicable order of court, law, statute or regulation. Each Member further
agrees to notify the Company before disclosing any Confidential Information under compulsion of law. Each Member hereby acknowledges that all Confidential Information is valuable, material and will significantly affect the effective and successful
conduct of the Company’s business and its goodwill. Each Member will take all necessary steps and precautions to protect any Confidential Information and shall comply with all policies of the Company in regard to Confidential Information. Upon
the Company’s request, any Member shall promptly return to the Company any and all correspondence, notes, data and documents containing or reflecting Confidential Information, keeping no copies for itself and certifying the same. The rights and
protections granted herein are in addition to the rights, remedies and protections afforded to the Company under any applicable law, statute or regulation. 

  
 26 

 (b) Definitions. For the purposes of this Agreement, the term “Confidential
Information” shall mean all information or data relating to the business and affairs of the Company not generally known outside of the Company, including, without limitation, any of the Company’s processes, data, designs, compilations of
information, apparatus, computer programs, information of or relating to suppliers or customers, customer requirements, cost or price data, research data, business plans, marketing or sales plans or information, financial data, salary information,
policies and procedures, sales know-how or any other information that may be considered to be proprietary to or a trade secret of the Company, whether or not such information is considered a trade secret within the meaning of applicable law.
Information shall not be considered “Confidential Information” if any of the following apply: 
 (i) It is already in
or enters into the public domain otherwise than as a consequence of a breach of the terms of this Agreement. 
 (ii) It is
already properly and lawfully in the possession of the receiving party and is not subject to any obligation of secrecy on the receiving party’s part. 
 (iii) It becomes available to a party on a non-confidential basis from a source other than the Company, provided that such information was properly and lawfully in the possession of such source and not,
so far as the receiving party is aware (after making due and careful inquiry), subject to any obligation of secrecy on the part of such source. 
 13.5 Restrictive Covenants. (a) Company Opportunity. Each of the Members and the Managers covenants and agrees that until it is no longer a Member or a Manager it will not pursue any
opportunities in the Business of the Company (as defined in Article 3) other than through the Company. Any and all rights in and to the income and profits derived from any such opportunities or competitive business ventures shall inure to the
benefit of the Company. 
 (b) Non-Solicitation of Employees. Each of the Members and the Manager covenants and agrees
that during the period beginning on the date hereof and ending one year after the date upon which the Member or any of its Permitted Transferees ceases to own Percentage Interests in the Company or the Manager ceases to be a Manager of the Company,
no such Member, Manager or Permitted Transferee will, directly or indirectly, whether individually, or as a shareholder, partner, director, officer, member, owner, manager, employee, agent, consultant or creditor of any business, or in any other
capacity, hire, retain, employ or solicit for employment any person who was employed by or retained as an independent contractor by the Company at any time during the 12-month period prior to the date that neither such Member, Manager or any of
their Permitted Transferees was a Member of the Company. 
 13.6 Remedies. (a) Remedies of Company. Each of
the Members (which term, for purposes of this Section only, includes the Manager, whether or not the Manager is a Member) agrees that the scope and time periods contained in this Article have been carefully considered and specifically agreed to as
being reasonable and necessary. If any of the Members shall at any time breach, violate or fail to comply fully with any of the terms, provisions or conditions of this Article, the Company shall be entitled to equitable relief by way of injunction
(in addition to, but not in substitution for, any and all other relief to which the Company may be entitled either in law or in equity) to restrain such breach or violation or to require compliance fully with the terms, provisions or conditions of
this Article. Each Member further agrees to reimburse the Company for any cost of enforcing the provisions of this Article, including reasonable attorney’s fees. 
 (b) Modification by Court. If a court or other body of authority and competent jurisdiction determines that the covenants contained in this Article are unenforceable, in whole or in part, due to
the duration or scope of the restrictions or limitations imposed therein or for any other reason, then the court is hereby authorized and directed to make such modifications thereto as are necessary to render said covenants enforceable to the
maximum extent permitted under applicable law, that being the intention of the parties hereto. 

  
 27 

 ARTICLE 14 
 Power of Attorney; Amendments 
 14.1 Power of Attorney. Each Member
hereby agrees that, upon the execution of this Agreement, it shall and hereby does consent and appoint the Manager as its true and lawful attorney, coupled with an interest in its name, place and stead to sign, execute, acknowledge, swear to and
file any and all documents which in the discretion of such attorney are required to be signed, executed, acknowledged, sworn to or filed by the Member to discharge the purposes of the Company as hereinabove stated. Without limitation, among the
documents which the Manager may execute on behalf of each Member shall be the following: 
 (a) Amendments to Agreement.
Any amendments to this Agreement, when this Agreement is amended in accordance with Section 14.2. 
 (b) Articles
and Other Instruments. The Certificate of Formation required of the Company by the Act (and the laws of any other jurisdiction deemed necessary by the Manager) and any other instrument which may be required of the Company or a Member pursuant to
the Act or the laws of any other jurisdiction. 
 (c) Amendments to Certificate. Any amendments to the Certificate of
Formation of the Company made pursuant to Section 14.2. 
 The grant of authority set forth in this Section is a special power of attorney
coupled with an interest, is irrevocable and shall survive the death, incapacity, liquidation or dissolution of a Member; may be exercised by the Manager for a Member by a facsimile signature or by listing the names of all of the Members executing
any instrument with the signature of the Manager, as attorney in fact for all of them; and shall survive the delivery of an assignment by a Member of all or any portion of its interest, except that where the assignee has been approved by the Manager
and the vote of the Members which hold all of the Percentage Interests for admission to the Company as a substituted Member, the power of attorney shall survive the delivery of such assignment for the sole purpose of enabling the Manager to execute,
acknowledge and file any instrument necessary to effect such substitution, and the grant of authority set forth in Section 14.1 shall be deemed to have been made by such substitute Member. 

14.2 Amendments. The terms and provisions of this Agreement may be modified or amended at any time and from time to time with the
vote of Members holding all of the Percentage Interests. 
 ARTICLE 15 

Securities Laws Representations 
 (a) No Registration Statement. No registration statement relating to interests in the Company or otherwise has been or shall be filed with the United States Securities and Exchange Commission under
the Federal Securities Act of 1933, as amended, or the securities laws of any state. 

  
 28 

 (b) Representations and Warranties. Each Member represents and warrants to the
Manager and to the Company that: 
 (i) Such Member has the power and authority to execute and comply with the terms and
provisions hereof. 
 (ii) Such Member’s interest in the Company has been or will be acquired solely by and for the account
of such Member for investment purposes only and is not being purchased for subdivision, fractionalization, resale or distribution; such Member has no contract, undertaking, agreement or arrangement with any person to sell, transfer or pledge to such
person or anyone else such Member’s interest (or any portion thereof); and such Member has no present plans or intentions to enter into any such contract, undertaking or arrangement. 

(iii) Such Member’s interest in the Company has not and will not be registered under the Federal Securities Act of 1933, as amended,
or the securities laws of any state, and cannot be sold or transferred without compliance with the registration provisions of said Securities Act of 1933, as amended, and the applicable state securities laws, or compliance with exemptions, if any,
available thereunder. Such Member understands that neither the Company nor the Manager has any obligation or intention to register the interests under any Federal or state securities act or law, or to file the reports to make public the information
required by Rule 144 under the Securities Act of 1933, as amended. 
 (iv) Such Member expressly represents that (A) it has
such knowledge and experience in financial and business matters in general, and in investments of the type to be made by the Company in particular; (B) it is capable of evaluating the merits and risks of an investment in the Company;
(C) its financial condition is such that it has no need for liquidity with respect to its investment in the Company to satisfy any existing or contemplated undertaking or indebtedness; (D) it is able to bear the economic risk of its
investment in the Company for an indefinite period of time, including the risk of losing all of such investment, and loss of such investment would not materially adversely affect it; and (E) it has either secured independent tax advice with
respect to the investment in the Company, upon which it is solely relying, or it is sufficiently familiar with the income taxation of partnerships that it has deemed such independent advice unnecessary. 

(v) Such Member acknowledges that the Manager has made all documents pertaining to the transaction available and has allowed it an
opportunity to ask questions and receive answers thereto and to verify and clarify any information contained in the documents. Such Member is aware of the provisions of this Agreement providing for additional capital contributions and dilution of
its interest in the Company. 
 (vi) Such Member has relied solely upon the documents submitted to it and independent
investigations made by it in making the decision to purchase its interest in the Company. 
 (vii) Such Member expressly
acknowledges that (A) no Federal or state agency has reviewed or passed upon the adequacy or accuracy of the information set forth in the documents submitted to such Member or made any finding or determination as to the fairness for investment,
or any recommendation or endorsement of an investment in the Company; (B) there are restrictions on 

  
 29 

 
the transferability of such Member’s interest in the Company; (C) there will be no public market for the interest, and, accordingly, it may not be possible for such Member to liquidate
its investment in the Company; and (D) any anticipated Federal or state income tax benefits applicable to such Member’s interest may be lost through changes in, or adverse interpretations of, existing laws and regulations. 

(viii) If the Member is an individual, that his or her bona fide place of residence is as set forth on the signature pages
hereof. If the Member is a corporation, partnership or limited liability company, that its bona fide principal place of business is at the address set forth on the signature pages hereof and that it was not formed for the purpose of
making an investment in the Company. If the Member is a trust, the aforesaid representations shall be made by the trustee. 

ARTICLE 16 

General Provisions 
 16.1 Notices. All notices, offers or other communications required or permitted to be given pursuant to this Agreement shall be in writing and shall be considered as properly given: 

(a) Upon personal delivery. 
 (b) On the fifth business day following mailing from within the United States by first class United States mail, postage prepaid, certified mail. 

(c) On the next business day following delivery via a recognized overnight delivery service such as Federal Express or DHL. 

Notices, offers or other communications to the Company shall be addressed to the Company in care of each Manager at the address beneath each
Manager’s name on the signature page of this Agreement. Notices, offers or other communications to the Manager shall be addressed to the each Manager at the address beneath each Manager’s name on the signature page of this Agreement.
Notices, offers or other communications to a Member shall be addressed to the Member at the address beneath the Manager’s name on the signature page of this Agreement. Any Member or Manager may change its address for all future notices, offers
or other communications by giving notice to the Manager and all Members stating its new address. 
 16.2 Successors. This
Agreement and all the terms and provisions hereof shall be binding upon and shall inure to the benefit of all Members and their legal representatives, heirs, successors and Permitted Assigns, except as expressly herein otherwise provided.

 16.3 Governing Law. This Agreement shall be construed in conformity with the laws of the State of Delaware, as applied
to agreements whose only parties are residents of such state and which are to be performed entirely within such state. 
 16.4
Personal Jurisdiction. The Company, the Manager and each Member hereby irrevocably consent to the jurisdiction of the state courts located in Los Angeles, California for purposes of any litigation among or between the Company, the Manager and
any Member concerning 

  
 30 

 
the Company or this Agreement. The parties hereto hereby individually agree that they shall not assert any claim that they are not subject to the jurisdiction of such courts, that the venue is
improper, that the forum is inconvenient or any similar objection, claim or arguments. Service of process on any of the parties hereto with regard to any such action may be made by mailing the process to such person by certified mail to the address
of such person set forth herein (with certified mail to the copy recipient) or to any subsequent address to which notices shall be sent. 
 16.4 Counterparts. This Agreement may be executed in counterparts, each of which shall be an original, but all of which shall constitute one and the same instrument. 

16.5 Pronouns and Headings. As used herein, all pronouns shall include the masculine, feminine, neuter, singular and plural
thereof wherever the context and facts require such construction. The headings, titles and subtitles herein are inserted for convenience of reference only and are to be ignored in any construction of the provisions hereof. 

16.6 Members Not Agents. Nothing contained herein shall be construed to constitute any Member the agent of another Member, except
as specifically provided herein. 
 16.7 Entire Understanding. This Agreement constitutes the entire understanding among
the Members and supersedes any prior understanding and/or written or oral agreements among them with respect to limited liability company agreement of the Company. 
 16.8 Severability. If any provision of this Agreement, or the application of such provision to any person or circumstance, shall be held invalid by a court of competent jurisdiction, the remainder
of this Agreement, or the application of such provision to persons or circumstances other then those to which it is held invalid by such court, shall not be affected thereby. 
 16.9 Further Assurances. Each of the Members shall hereafter execute and deliver such further instruments and do such further acts and things as may be required or useful to carry out the intent
and purpose of this Agreement and as are not inconsistent with the terms hereof. Recognizing that each Member may find it necessary from time to time to establish to third parties, such as accountants, banks, mortgagees or the like, the then-current
status of performance hereunder, each Member agrees, upon the written request of another Member (including the Manager, for and on behalf of the Company), from time to time, to furnish promptly a written statement of the status of any matter
pertaining to this Agreement or the Company to the best of the knowledge and belief of the Member making such statements, no more than once per calendar quarter. 
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date above written. 
 Signatures begin on the next page. 
  

  
 31 

	
	 MANAGERS

	
	/s/ Ryan Blair
	Ryan Blair
	  

	  

	  

	
	/s/ Blake Mallen
	Blake Mallen
	  

	  

	  

	
	/s/ Nick Sarnicola
	Nick Sarnicola
	  

	  

	  

  
 32 

					
	 MEMBERS
	  	 PERCENTAGE

INTEREST
	  	 CAPITAL

CONTRIBUTION

			
	  
 Ryan Blair
	  	33.3% of Common A	  	$100.00
	  
  
	  		  	
			
	      
	  	33.3% of Common A	  	$100.00
	Blake Mallen	  		  	
	  
  
  
	  		  	
			
	      
	  	33.3% of Common A	  	$100.00
	 Nick Sarnicola
  
  

 
	  		  	

  
 33 

 APPENDIX A 
 Major Decisions 
 1. The sale, assignment, exchange, transfer, lease, grant of
rights of first refusal or options with respect to, or other disposition of all or substantially all of the assets of the Company (including any interests, if any, in subsidiaries or affiliates) in any transaction or series of transactions.

 2. The acquisition of any interest in any business (whether by a purchase of assets, purchase of stock merger or otherwise)
or a merger, consolidation, reorganization, or recapitalization with any person or entity. 
 3. The making of an assignment for
the benefit of creditors or admitting in writing the inability of the Company to pay its debts generally as they become due or petitioning or applying to any tribunal for the appointment of a custodian, trustee, receiver or liquidator for the
Company or of any substantial part of the assets, or commencing of any proceeding relating to the Company under any bankruptcy, reorganization, arrangement insolvency, readjustment of debt, dissolution or liquidation law of any jurisdiction.

 4. Changes to the Operating Agreement. 

  
 34 

 EXHIBIT B 
 Form of Registration Rights Agreement 

 VISALUS HOLDINGS, LLC 

REGISTRATION RIGHTS AGREEMENT 
 THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of the 5th day of December, 2005, by and among Visalus Holdings, LLC, a Delaware limited liability
company (the “Company”) and Ropart Asset Management Fund, LLC, a Delaware limited liability company (the “Preferred Holder”). 
 WHEREAS, the Preferred Holder is the holder of all of the Company’s issued and outstanding Series A Convertible Participating Preferred Units (the “Series A Preferred Units”);

 WHEREAS, the parties hereto desire to provide the Preferred Holder with (i) certain rights to register Registrable
Securities (as defined below), and (ii) the benefit of certain Company covenants. 
 NOW, THEREFORE, in consideration of
the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties to this Agreement agree as follows: 

SECTION 1 

DEFINITIONS 
 1.1 Certain Definitions. As used in this Agreement, the following terms shall have the meanings set forth below: 
 (a) “Common Units” shall mean the Company’s Common Units 

(b) “Commission” shall mean the Securities and Exchange Commission or any other federal agency at the time administering
the Securities Act. 
 (c) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, or any
similar successor federal statute and the rules and regulations thereunder, all as the same shall be in effect from time to time. 
 (d) “Initial Common Holders” shall mean each of the holders of the Company’s Common Units listed on Schedule A hereto. 

(e) “Holder” shall mean (i) any Unit Holder who holds Registrable Securities and (ii) any holder of
Registrable Securities to whom the rights conferred by this Agreement have been transferred in compliance with this Agreement. 

(f) “LLC Agreement” shall mean the Amended and Restated Limited Liability Company Agreement of the Company, as amended
from time to time. 

 (g) “Person” means an individual or group of individuals, a corporation, an
association, a partnership, a limited or general limited liability company, an estate, a trust, and any other entity or organization, governmental or otherwise. 
 (h) “Qualified Public Offering” shall mean an initial public offering of the Company’s Common Units or any other type of equity securities that are included as Registrable Securities
registered pursuant to the Securities Act resulting in (x) aggregate gross proceeds equal to or greater than $15,000,000 and (y) if Series A Preferred Units are outstanding, the per share or unit price paid for such shares or units shall
be at least $3 (such amount as appropriately adjusted for any combinations, consolidations, stock or unit splits, or stock or unit distributions or stock or unit dividends with respect to such stock or units). 

(i) “Registrable Securities” shall mean (i) Common Units, (ii) Common Units issued or issuable pursuant to the
conversion of the Series A Preferred Units, (iii) any equity securities issued or issuable as a dividend or other distribution with respect to the Common Units referenced in clauses (i) or (ii) above, or (iv) any equity
securities issued or issuable with respect to the Series A Preferred Units or the Common Units described in clauses (i), (ii) or (iii) above by way of a combination of units or shares, recapitalization, merger,
consolidation or other reorganization, including pursuant to Article IX of the LLC Agreement; provided, however, that Registrable Securities shall not include any equity securities which have previously been registered or which have
been sold to the public. 
 (j) The terms “register,” “registered” and
“registration” shall refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act and applicable rules and regulations thereunder, and the declaration or ordering of the
effectiveness of such registration statement. 
 (k) “Registration Expenses” shall mean all expenses incurred
in effecting any registration pursuant to this Agreement, including, without limitation, all registration, qualification, and filing fees, printing expenses, escrow fees, fees and disbursements of counsel for the Company, blue sky fees and expenses,
expenses of any regular or special audits incident to or required by any such registration and reasonable fees and disbursements of one counsel to the Holders (acting as a single group) selected by them (provided that the Company shall not be
responsible for such counsel’s fees in excess of $25,000 for any single registration), but shall not include Selling Expenses. 
 (1) “Rule 144” shall mean Rule 144 as promulgated by the Commission under the Securities Act, as such Rule may be amended from time to time, or any similar successor rule that may be
promulgated by the Commission. 
 (m) “Rule 145” shall mean Rule 145 as promulgated by the Commission under the
Securities Act, as such Rule may be amended from time to time, or any similar successor rule that may be promulgated by the Commission. 
 (n) “Securities Act” shall mean the Securities Act of 1933, as amended, or any similar successor federal statute and the rules and regulations thereunder, all as the same shall be in
effect from time to time. 

  
 2 

 (o) “Selling Expenses” shall mean all underwriting discounts and selling
commissions applicable to the sale of Registrable Securities and fees and disbursements of counsel for any Holder (other than such fees and disbursements included in Registration Expenses). 

(p) “Unit Holder” or “Unit Holders” shall mean the Initial Common Holders and the Preferred Holder.

 (q) “Units” shall mean the Common Units and Series A Preferred Units. 

SECTION 2 

REGISTRATION RIGHTS 
 2.1 Demand Registration. 
 (a) Request for Registration. If the
Company shall receive from the Preferred Holder a written request that the Company effect a registration with respect to all or a part of the Registrable Securities, the Company will: 

(i) within ten (10) days of receipt thereof, give written notice of the proposed registration to all other Holders; and 

(ii) use its best efforts to effect such registration (including, without limitation, filing post-effective amendments, appropriate
qualifications under applicable blue sky or other state securities laws, and appropriate compliance with the Securities Act) as would permit or facilitate the sale and distribution of all or such portion of such Registrable Securities as are
specified in such request, together with all or such portion of the Registrable Securities of any Holder or Holders joining in such request as are specified in a written request received by the Company within twenty (20) days after such written
notice from the Company is delivered. 
 The Company shall not be obligated to effect, or to take any action to effect, any such
registration pursuant to this Section 2.1: 
 (A) In any particular jurisdiction in which the Company would be
required to execute a general consent to service of process in effecting such registration, qualification, or compliance, unless the Company is already subject to service in such jurisdiction; 

(B) After the Company has initiated two (2) such registrations pursuant to Section 2.1(a) (counting for these purposes
only (I) registrations which have been declared or ordered effective and pursuant to which securities have been sold (other than if the Holders elected not to sell securities pursuant to such registration; provided that, if the Holders
pay the Registration Expenses incurred in connection with such registration, such registration shall not count as a registration for purposes of this Section 2.1) and (II) registrations which have been withdrawn by the Holders as
to which the Holders have not elected to bear the Registration Expenses pursuant to Section 2.4 hereof except in the event that such withdrawal is based upon material adverse information relating to the Company that is different from the
information known or available (upon request from the Company or otherwise) to the Holders requesting registration at the time of their request for registration under Section 2.1); 

  
 3 

 (C) The Company shall not be obligated to effect any such registration within ninety
(90) days of the effective date of a previous registration; or 
 (D) During the period starting with the date sixty
(60) days prior to the Company’s good faith estimate of the date of filing of, and ending on a date one hundred eighty (180) days after the effective date of, a Company-initiated registration; provided that the Company is
actively employing all commercially reasonable efforts to cause such registration statement to become effective. 
 (b)
Registration Statement. Subject to the foregoing clauses (A) through (D), the Company shall file a registration statement covering the Registrable Securities so requested to be registered as soon as practicable, and in any event within
sixty (60) days after receipt of the request or requests of the Preferred Holder; provided, however, that if (i) in the good faith judgment of the Management Board of the Company (the “Board”), such
registration would be seriously detrimental to the Company and the Board concludes, as a result, that it is essential to defer the filing of such registration statement at such time, and (ii) the Company shall furnish to such Holders a
certificate signed by the Chief Executive Officer of the Company stating that in the good faith judgment of the Board, it would be seriously detrimental to the Company for such registration statement to be filed in the near future and that it is,
therefore, essential to defer the filing of such registration statement, then the Company shall have the right to defer such filing for the period during which such registration would be seriously detrimental; provided that (except as
provided in clause (D) above) the Company may not defer the filing for a period of more than one hundred twenty (120) days after receipt of the request of the Preferred Holder; and, provided further, that the Company
shall not defer its obligation in this manner more than once in any twelve (12) month period. 
 (c) Inclusion of Other
Securities of the Company. The registration statement filed pursuant to the request of the Preferred Holder may, subject to the provisions of Sections 2.1(d) and 2.1(e) hereof, include other securities of the Company with respect
to which registration rights have been granted, and may include securities of the Company being sold for the account of the Company. 
 (d) Underwriting. If an underwriter is engaged by the Preferred Holder, the right of any Holder to registration pursuant to Section 2.1 shall be conditioned upon such Holder’s
execution of an underwriting agreement and the inclusion of such Holder’s Registrable Securities in the underwriting (unless otherwise mutually agreed by the Preferred Holder and such Holder with respect to such participation and inclusion) to
the extent provided herein. 
 (e) Procedures. If the Company shall request inclusion in any registration pursuant to
Section 2.1 of securities being sold for its own account, or if other persons shall request inclusion in any registration pursuant to Section 2.1, the Preferred Holder shall, on behalf of all Holders, offer to include such
securities in the underwriting and may condition such offer on their acceptance of the further applicable provisions of this Section 2 (including Section 2.10). The Company shall (together with all Holders and other persons
proposing to distribute their 

  
 4 

 
securities through such underwriting) enter into an underwriting agreement in customary form with the representative of the underwriter or underwriters selected for such underwriting by the
Company, which underwriters are reasonably acceptable to the Preferred Holder. If a person who has requested inclusion in such registration as provided above does not agree to the terms of any such underwriting, such person shall be excluded
therefrom by written notice from the Company, the underwriter and/or the Preferred Holder. The Registrable Securities so excluded shall also be withdrawn from registration. If Registrable Securities are so withdrawn from the registration and if the
number of securities to be included in such registration was previously reduced as a result of marketing factors pursuant to Section 2.1(f), then the Company shall offer to all Holders who have retained rights to include Registrable
Securities in the registration the right to include additional Registrable Securities in the registration in an aggregate amount equal to the number of Registrable Securities so withdrawn, with such number of Registrable Securities to be allocated
among such Holders requesting additional inclusion in accordance with Section 2.1(f). 
 (f) Priority on Demand
Registration. Notwithstanding any other provision of this Section 2.1, if the representative of the underwriters advises the Preferred Holder in writing that marketing factors require a limitation on the number of Registrable
Securities to be underwritten, then the Preferred Holder shall so advise all holders of Registrable Securities that would otherwise be underwritten, and the number of Registrable Securities to be included in the underwriting or registration shall be
allocated (i) first to the Preferred Holder (the “Priority Registrable Securities”), (ii) second among all other Holders, excluding the Preferred Holder, in proportion (as nearly as practicable) to the number
of Registrable Securities of the Company requested for inclusion by such other Holders (the “Secondary Registrable Securities”), and (iii) third to any other Common Units of the Company (including Common Units issued or
issuable upon conversion of any currently unissued series of preferred unit of the Company) or other securities of the Company (the “Other Securities”). 
 (g) Suspension of Sales. Notwithstanding anything else to the contrary set forth herein, the Company shall be entitled to postpone or suspend, for a reasonable period of time (provided that such
reasonable period of time does not exceed one hundred twenty (120) consecutive days in any two (2) year period, the filing, effectiveness or use of, or trading under, any registration statement if the Company shall determine that any such
filing or the sale of any securities pursuant to such registration statement would in the good faith judgment of the Board: 

(i) materially impede, delay or interfere with any material pending or proposed financing, acquisition, corporate reorganization or
other similar transaction involving the Company for which the Board has authorized negotiations; 
 (ii) materially adversely
impair the consummation of any pending or proposed material offering or sale of any class of securities by the Company; or 

(iii) require disclosure of material nonpublic information that, if disclosed at such time, would be materially harmful to the interests
of the Company and its equity holders; provided, however, that during any such period all executive officers and directors of the Company are also prohibited from selling securities of the Company (or any security of any of the
Company’s subsidiaries or affiliates). 

  
 5 

 In the event of the suspension of effectiveness of any registration statement pursuant to
this Section 2.1(g), the applicable time period during which such registration statement is to remain effective shall be extended by that number of days equal to the number of days the effectiveness of such registration statement was
suspended. 
 2.2 Company Registration. 
 (a) If the Company shall determine to register any of its securities either for its own account or the account of a security holder or holders (other than pursuant to Section 2.1 or 2.3
hereof), other than a registration relating solely to employee benefit plans, or a registration relating solely to a Rule 145 transaction, the Company will: 
 (i) promptly give to each Holder written notice thereof; and 
 (ii) include in
such registration (and any related qualification under blue sky laws or other compliance), except as set forth in Section 2.2(b) below, and in any underwriting involved therein, all the Registrable Securities specified in a written
request or requests, made by any Holder and received by the Company within twenty (20) days after the written notice from the Company described in clause (i) above is delivered by the Company. Such written request may specify all or a part
of a Holder’s Registrable Securities. 
 (b) Underwriting. If the registration of which the Company gives notice is
for a registered public offering involving an underwriting, the Company shall so advise the Holders as a part of the written notice given pursuant to Section 2.2(a)(i). In such event, the right of any Holder to registration pursuant to
this Section 2.2 shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to
distribute their securities through such underwriting shall (together with the Company and the other holders of securities of the Company with registration rights to participate therein distributing their securities through such underwriting) enter
into an underwriting agreement in customary form with the representative of the underwriter or underwriters selected by the Company. If any person does not agree to the terms of any such underwriting, he or she shall be excluded therefrom by written
notice from the Company or the underwriter. Any Registrable Securities or other securities excluded or withdrawn from such underwriting shall be withdrawn from such registration. If Registrable Securities are so withdrawn from the registration and
if the number of Registrable Securities to be included in such registration was previously reduced as a result of marketing factors, the Company shall then offer to all persons who have retained the right to include securities in the registration
the right to include additional securities in the registration in an aggregate amount equal to the number of Registrable Securities so withdrawn, with such Registrable Securities to be allocated among the persons requesting additional inclusion in
accordance with Section 2.2(c). 
 (c) Priority on Company Registrations. Notwithstanding any other provision
of this Section 2.2, if the representative of the underwriters advises the Company in writing that marketing factors require a limitation on the number of Registrable Securities to be underwritten, the representative may (subject to the
limitations set forth below) exclude the Registrable Securities from, or limit the number of Registrable Securities to be included in, the registration 

  
 6 

 
and underwriting, to the extent so advised by the underwriters; provided that (i) first, the securities the Company proposes to sell shall be included, (ii) second,
the Priority Registrable Securities, if any, requested to be included in the registration shall be included, (iii) third, the Secondary Registrable Securities, if any, requested to be included in the registration shall be included, pro
rata among the Holders of such Secondary Registrable Securities on the basis of the number of Secondary Registrable Securities each such Holder requested to be included in the registration, and (iv) fourth, Other Securities shall be
included, pro rata among the holders of such Other Securities on the basis of the number of Other Securities each such holder requested to be included. 
 2.3 Registration on Form S-3. 
 (a) After its initial public offering, the
Company shall use its commercial best efforts to qualify for registration on Form S-3 or any comparable or successor form or forms. After the Company has qualified for the use of Form S-3, in addition to the rights contained in the foregoing
provisions of this Section 2, the Preferred Holder shall have the right to request registrations on Form S-3 or any similar short form registration (such requests shall be in writing and shall state the number of Registrable Securities
to be disposed of and the intended methods of disposition of such Registrable Securities by the Preferred Holder); provided, however, that the Company shall have the right to defer one (1) such filing for a period of not more than
ninety (90) days after receipt of the request of the Preferred Holder, provided that the Company shall not defer its obligations in this manner more than once in any twelve (12) month period; and, provided
further, that the Company shall not be obligated to effect any such registration: (i) if the Preferred Holder, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell
Registrable Securities and such other securities (if any) on Form S-3 at an aggregate price to the public of less than $1,000,000; (ii) in a given twelve (12) month period, after the Company has effected one such registration in any such
period; (iii) if the registration is in any jurisdiction in which the Company would be required to qualify to do business or execute a general consent to service of process to effect such registration; (iv) during the period starting with
the date sixty (60) days prior to the Company’s good faith estimate of the date of filing of, and ending on a date ninety (90) days after the effective date of, a Company-initiated registration, or (v) if the Company has effected
two (2) such registrations on Form S-3 pursuant to this Section 2.3(a) (counting for these purposes only (I) registrations which have been declared or ordered effective and pursuant to which securities have been sold (other
than if the Holders elected not to sell securities pursuant to such registration); provided that, if the Preferred Holder pays the Registration Expenses incurred in connection with such registration, such registration shall not count
as a registration for purposes of this Section 2.3) and (II) registrations which have been withdrawn by the Preferred Holder as to which the Preferred Holder has not elected to bear the Registration Expenses pursuant to
Section 2.4 hereof; provided that in the event that such withdrawal is based upon material adverse information relating to the Company that is different from the information known or available (upon request from the Company or
otherwise) to the Preferred Holder at the time of its request for registration under this Section 2.3(a), such registration shall not count as a registration for purposes of this Section 2.3). 

(b) If a request complying with the requirements of Section 2.3(a) hereof is delivered to the Company, the provisions of
Sections 2.1 (a)(i) and (ii), 2.1(b) and 2.1 (c) hereof shall apply to such registration. If the registration is for an underwritten offering, the provisions of Sections 2.1(d) and 2.1(e) hereof shall
apply to such registration. 

  
 7 

 2.4 Expenses of Registration. All Registration Expenses incurred in connection with
any registration, qualification or compliance pursuant to Sections 2.1, 2.2 and 2.3 hereof shall be borne by the Company; provided, however, that, with respect to any registration proceeding begun pursuant to
Sections 2.1 or 2.3, if the registration request is subsequently withdrawn at the request of the Preferred Holder, the Preferred Holder may elect to bear such expenses. All Selling Expenses relating to securities registered pursuant to
Sections 2.1, 2.2 and 2.3 hereof shall be borne by the Holders of such securities pro rata on the basis of the number of Registrable Securities so registered on their behalf. 

2.5 Registration Procedures. In the case of each registration effected by the Company pursuant to this Section 2, the
Company will keep each Holder advised in writing as to the initiation of each registration and as to the completion thereof. At its expense, the Company will use its commercial best efforts to: 

(a) Keep such registration effective for a period of one hundred twenty (120) days or until the Holder or Holders have completed the
distribution described in the registration statement relating thereto, whichever first occurs; provided, however, that (i) such one hundred twenty (120) day period shall be extended for a period of time equal to the period
the Holder refrains from selling any securities included in such registration at the request of the Company or an underwriter of Common Units (or other securities) of the Company; and (ii) in the case of any registration of Registrable
Securities on Form S-3 which are intended to be offered on a continuous or delayed basis, such one hundred twenty (120) day period shall be extended to a period of one (1) year; 

(b) Prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in
connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement; 

(c) Furnish such number of prospectuses and other documents incident thereto, including any amendment of or supplement to the prospectus,
as a Holder from time to time may reasonably request; 
 (d) Notify each Holder of Registrable Securities covered by such
registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect,
includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading or incomplete in the light of the circumstances under which such statements
were made, and promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities,
such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading or incomplete in the light of the circumstances under
which such statements were made; 

  
 8 

 (e) Provide a transfer agent and registrar for all Registrable Securities registered
pursuant to such registration statement and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration; 
 (f) In connection with any underwritten offering pursuant to a registration statement filed pursuant to Section 2.1 hereof, the Company will enter into an underwriting agreement reasonably
necessary to effect the offer and sale of the Registrable Securities; provided such underwriting agreement contains customary underwriting provisions and provided further that if the underwriter so requests the underwriting agreement will
contain customary contribution provisions; 
 (g) Furnish, at the request of any Holder requesting registration of Registrable
Securities pursuant to this Section 2 (except in the case of registration on Form S-3), on the date that such Registrable Securities are delivered to the underwriters for sale in connection with a registration pursuant to this
Section 2, if such securities are being sold through underwriters, or, if such securities are not being sold through underwriters, on the date that the registration statement with respect to such securities becomes effective, (i) an
opinion, dated such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to
the Holders requesting registration of Registrable Securities and (ii) a letter dated such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public
accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities; 
 (h) Register and qualify the securities covered by such registration statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Holders;
provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions; 

(i) Promptly notify the Holders of Registrable Securities and the underwriters, if any, of the following events and (if requested by any
such persons) confirm such notification in writing: (i) the filing of the prospectus or any prospectus supplement and the registration statement and any amendment or post-effective amendment thereto and, with respect to the registration
statement or any post-effective amendment thereto, the declaration of the effectiveness of such document; (ii) any requests by the Commission for amendments or supplements to the registration statement or the prospectus or for additional
information; (iii) the issuance or threat of issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings for that purpose; and (iv) the receipt by the Company
of any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation or threat of initiation of any proceeding for such purpose; 

  
 9 

 (j) Cause all such Registrable Securities to be listed on each securities exchange on which
the same class of securities issued by the Company is then listed and, if not so listed, to be listed on the NASD automated quotation system and, if listed on the NASD automated quotation system, use its best efforts to secure designation of all
such Registrable Securities covered by the registration statement as a NASDAQ “national market system security” within the meaning of Rule 11a2-1 under the 1934 Act or, failing that, use its best efforts to secure NASDAQ authorization for
such Registrable Securities and, without limiting the generality of the foregoing, use its best efforts to arrange for at least two market makers to register as such with respect to such Registrable Securities with the NASD; 

(k) Enter into such customary agreements (including, without limitation, underwriting agreements in customary form) and take all such
other actions as shall be necessary or customary in order to expedite or facilitate the disposition of such Registrable Securities (including, without limitation, effecting a stock or unit split or a combination of shares or units); 

(I) Make available for inspection by any Holder of Registrable Securities, any underwriter participating in any disposition pursuant to
the registration statement and any attorney, accountant or other agent retained by any such Holder or underwriter (“Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company in each
case that are relevant to such registration statement (“Records”), and cause the Company’s officers, directors, employees and independent accountants to supply all relevant information reasonably requested by any such Inspector
in connection with the registration statement; provided that the Company shall not be required to comply with this Section 2.5(m) to the extent there is a reasonable likelihood, in the reasonable judgment of the Company, that such
delivery could result in the loss of any attorney client privilege related thereto; and provided further that Records that the Company determines, in good faith, to be confidential and that it notifies the Inspectors are
confidential shall be used only in connection with such registration, and shall be kept confidential and shall not be disclosed by the Inspectors (other than to any Holder of Registrable Securities) unless (i) such Records have become generally
available to the public or (ii) the disclosure of such Records may be necessary or appropriate (A) in compliance with any law, rule, regulation or order applicable to any such Inspector or Holder of Registrable Securities, (B) in
response to any subpoena or other legal process or (C) in connection with any litigation to which any such Inspector or Holder of Registrable Securities is a party; provided that prior notice be provided as soon as practicable to the
Company of the potential disclosure of any information by such Inspector pursuant to this clause to permit the Company to obtain a protective order (or waive the provisions of this clause) and that such Inspector shall take such actions as are
reasonably necessary to protect the confidentiality of such information to the extent such action is otherwise not inconsistent with, an impairment of or in derogation of the rights and interests of the Holder or any Inspector; 

(m) Permit any Holder of Registrable Securities to participate in the preparation of such registration or comparable statement and to
require the insertion therein of material furnished to the Company in writing relating to such Holder or its plan of distribution, which in the reasonable judgment of the Holder and its counsel should be included; 

(n) Make every commercially reasonable effort to prevent the entry of any order suspending the effectiveness of the registration
statement and, in the event of the issuance 

  
 10 

 
of any such stop order, or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any security included in such registration statement for sale
in any jurisdiction, the Company shall use its best efforts promptly to obtain the withdrawal of such order; 
 (o) Use its best
efforts to cause such Registrable Securities covered by the registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Holders thereof to consummate the disposition
of such Registrable Securities; and 
 (p) Cooperate with the selling Holders of Registrable Securities and the underwriters, if
any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends, and enable such Registrable Securities to be in such lots and registered in such names as
the underwriters may request at least two (2) business days prior to any delivery of Registrable Securities to the underwriters. 
 2.6 Indemnification. 
 (a) The Company (i) will indemnify and hold
harmless each Holder, each of its officers, directors, partners, employees, members, managers, agents, legal counsel, accountants and each person controlling such Holder within the meaning of Section 15 of the Securities Act, with respect to
which registration, qualification or compliance has been effected pursuant to this Agreement, and each underwriter, if any, and each person who controls any underwriter within the meaning of Section 15 of the Securities Act (each, an
“Indemnitee”), from and against all expenses, claims, costs, losses, damages and liabilities (including any investigation, legal and other expenses incurred in connection with, and any amount paid in settlement of, any action, suit
or proceeding or any claim asserted, as the same are incurred), joint or several, to which such Indemnitee may become subject under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or
otherwise, insofar as such losses, claims, damages, liabilities, costs or expenses (or actions in respect thereof) arise out of or are based upon (A) any untrue statement (or alleged untrue statement) of a material fact contained in any
registration statement, prospectus, offering circular or other document, or any amendment or supplement thereto, incident to any such registration, qualification or compliance, (B) any omission (or alleged omission) to state therein a material
fact required to be stated therein or necessary to make the statements therein, not misleading in light of the circumstances under which such statements were made, (C) any violation by the Company of the Securities Act or any State Securities
or “blue sky” laws or any rule or regulation promulgated thereunder applicable to the Company and relating to action or inaction required of the Company in connection with any such registration, qualification or compliance, (D) any
blue sky application or other document executed by the Company specifically for that purpose or based upon written information furnished by the Company filed in any state or other jurisdiction in order to qualify any or all of the Registrable
Securities under the securities laws thereof (any such application, document or information herein called a “Blue Sky Application”), or (E) any failure to register or qualify the Registrable Securities in any state where the
Company or its agents has affirmatively undertaken or agreed in writing that the Company (the undertaking of any underwriter chosen by the Company being attributed to the Company) will undertake such 

  
 11 

 
registration or qualification, and (ii) will reimburse each such Holder, each of its officers, directors, partners, employees, members and each person controlling such Holder, each such
underwriter and each person who controls any such underwriter, for any legal and any other expenses reasonably incurred in connection with investigating, preparing or defending any such claim, loss, damage, liability or action promptly after being
so incurred; provided that the Company will not be liable in any such case to the extent that any such claim, loss, damage, liability or expense arises out of or is based on (i) any untrue statement or omission or alleged untrue
statement or omission, made in conformity with written information furnished to the Company by an instrument duly executed by such Holder or underwriter and stated to be specifically for use therein or (ii) the failure of such Holder to timely
deliver a prospectus in connection with the offer or sale of Registrable Securities (so long as the Company furnished such prospectus to the Holder in a timely manner). 
 (b) Each Holder (i) will, if Registrable Securities held by such Holder are included in the securities as to which such registration, qualification or compliance is being effected, indemnify and hold
harmless the Company, each of its directors and officers, each underwriter, if any, of the Company’s securities covered by such a registration statement, each person who controls the Company or such underwriter within the meaning of
Section 15 of the Securities Act, and each such other selling Holder, each of its officers and directors and each person controlling such Holder within the meaning of Section 15 of the Securities Act, against all claims, losses, damages
and liabilities (including any investigation, legal and other expenses incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any claim asserted, as the same are incurred), joint or several, to which the
Company or such officer, director, other selling Holder, underwriter or controlling person may become subject under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as
such losses, claims, damages, liabilities, costs or expenses (or actions in respect thereof) arise out of or are based upon any untrue statement (or alleged untrue statement) of a material fact contained in any such registration statement,
prospectus, offering circular or other document, or any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and (ii) will reimburse the
Company, such other selling Holders, such directors, officers, underwriters or control persons for any legal or any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability or action,
in each case to the extent, but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such registration statement, prospectus, offering circular or other document in conformity with
written information furnished to the Company by such Holder, and stated to be specifically for use therein; provided, however, that the obligations of each such Holder hereunder shall be limited to an amount equal to the net proceeds
to such Holder from Registrable Securities sold in such offering. Not in limitation of the foregoing, it is understood and agreed that the indemnification obligations of any selling Holder hereunder pursuant to any underwriting agreement entered
into in connection herewith shall be limited to the obligations contained in this Section 2.6(b). 
 (c) Each party
entitled to indemnification under this Section 2.6 (the “Indemnified Party”) shall give notice to the party required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified
Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the 

  
 12 

 
defense of any such claim or any litigation resulting therefrom; provided that counsel for the Indemnifying Party, who shall conduct the defense of such claim or litigation, shall be
approved by the Indemnified Party (whose approval shall not be unreasonably withheld), and the Indemnified Party may participate in such defense at such party’s expense; and provided further that the failure of any
Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Agreement, except to the extent, but only to the extent, that the Indemnifying Party’s ability to defend against such
claim or litigation is impaired as a result of such failure to give notice. No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the consent of each Indemnified Party, consent to entry of any judgment or enter
into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect to such claim or litigation. Each Indemnified Party shall
furnish such information regarding itself or the claim in question as an Indemnifying Party may reasonably request in writing and as shall be reasonably required in connection with defense of such claim and litigation resulting therefrom.

 (d) If the indemnification provided for in this Section 2.6 is held by a court of competent jurisdiction to be
unavailable to an Indemnified Party with respect to any loss, liability, claim, damage or expense referred to therein, then the Indemnifying Party, in lieu of indemnifying such Indemnified Party hereunder, shall contribute to the amount paid or
payable by such Indemnified Party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the Indemnified Party on the one hand and of the Indemnifying Party on the other in
connection with the actions or omissions that resulted in such loss, liability, claim, damage or expense as well as any other relevant equitable considerations; provided, however, that, in any such case, (A) no such Holder will be
required to contribute any amount in excess of the proceeds received from the sale of all such Registrable Securities offered by it pursuant to such registration statement except in the case of willful fraud by such holder; and (B) no person or
entity guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. The relative fault of
the Indemnifying Party and of the Indemnified Party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied
by the Indemnifying Party or by the Indemnified Party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission. 

2.7 Information by Holder. Each Holder of Registrable Securities shall furnish to the Company such information regarding such
Holder and the distribution proposed by such Holder as the Company may reasonably request in writing and as shall be reasonably required in connection with any registration, qualification, or compliance referred to in this Section 2.

 2.8 Rule 144 Reporting. With a view to making available the benefits of certain rules and regulations of the
Commission that may permit the sale of the Restricted Securities (as defined in Rule 144) to the public without registration, the Company agrees (if, as and when the Company becomes subject to the Securities Act and/or Exchange Act) to use
commercially reasonable efforts to: 

  
 13 

 (a) Make and keep public information regarding the Company available as those terms are
understood and defined in Rule 144; 
 (b) File with the Commission in a timely manner all reports and other documents required
of the Company under the Securities Act and the Exchange Act at any time after it has become subject to such reporting requirements; 
 (c) Take such action, including the voluntary registration of its Registrable Securities under Section 12 of the Exchange Act, as is necessary to enable the Holders to use Form S-3 for the sale of
their Registrable Securities, such action to be taken as soon as practicable after the end of the fiscal year in which the first registration statement filed by the Company for the offering of its equity securities to the general public is declared
effective; and 
 (d) So long as a Holder owns any Restricted Securities, furnish to the Holder forthwith upon written request a
written statement by the Company as to its compliance with the reporting requirements of Rule 144, and of the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), a copy of the most recent
annual or quarterly report of the Company, and such other reports and documents so filed as a Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing a Holder to sell any such securities without
registration. 
 2.9 “Market Stand-Off” Agreement. If requested by the Company and an underwriter of Common
Units (or other securities) of the Company, a Holder shall not sell or otherwise transfer or dispose of any Common Units (or other securities) of the Company held by such Holder (other than those included in the registration) for no more than 180
days from the effective date of the first registration of the Company’s securities, including securities to be sold on its behalf to the public in an underwritten offering; provided, however, that all executive officers of the
Company, directors of the Company, and one percent (1%) or greater equity holders of the Company who are parties to this Agreement shall be bound by the same restrictions. 
 The obligations described in this Section 2.9 shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that may be promulgated in
the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4 or similar forms that may be promulgated in the future. The Company may impose stop-transfer instructions with respect to such securities subject to the
foregoing restriction until the end of such one hundred eighty (180) day period. 
 2.10 Delay of Registration. No Holder
shall have any right to take any action to restrain, enjoin, or otherwise delay any registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 

2.11 Termination of Registration Rights. The right of any Holder to request registration or inclusion in any registration pursuant
to Section 2.1, 2.2 or 2.3 shall terminate upon the expiration of five (5) years after the closing of a Qualified Public Offering or such earlier time at which such Holder can sell all Registrable Securities held by
him, her or it in compliance with Rule 144(k). 

  
 14 

 SECTION 3 
 MISCELLANEOUS 
 3.1 Governing Law. This Agreement shall be governed
in all respects by the laws of the State of Delaware. 
 3.2 Successors and Assigns. Except as otherwise expressly
provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto; provided that each Unit Holder may only assign his or her rights
hereunder in connection with a transfer of Registrable Securities made in compliance with the terms and conditions of the LLC Agreement and provided, further, that only those Registrable Securities so transferred by such Unit Holder
shall be deemed “Registrable Securities” hereunder. 
 3.3 Entire Agreement; Amendment; Waiver. 

(a) This Agreement (including the schedules hereto) constitutes the full and entire understanding and agreement between the parties with
regard to the subjects hereof and thereof. 
 (b) Neither this Agreement nor any term hereof may be amended, waived, discharged
or terminated, except by a written instrument signed by the Company and the Preferred Holder. Any such amendment, waiver, discharge or termination shall be binding on all the Unit Holders. In the event that the Preferred Holder transfers any or all
of the Series A Preferred Units, the Company hereby agrees to amend this Agreement as necessary to (i) extend the rights and obligations of the Preferred Holder hereunder to all holders of the Series A Preferred Units, (ii) make the
registration rights hereunder exercisable by the holders of a majority of the Series A Preferred Units, and (iii) permit exercise of the registration rights provided herein by some but not all holders of Series A Preferred Units. No other
registration rights may be granted without the consent of the Preferred Holder, unless such registration rights are subordinate to those of the Preferred Holder. 
 3.4 Notices, etc. Any notice and other communications required or permitted under this Agreement shall be in writing and shall be mailed by United States first-class mail, postage prepaid, sent by
facsimile (with electronic confirmation) or delivered personally by hand or by a nationally recognized courier addressed to the party to be notified at the address indicated for such party below or at such other address as such party may designate
by ten (10) days advance written notice to the other parties hereto, and (a) if to the Company, at [                    ] with a copy (which
shall not constitute notice) to [                    ], Attn.:
[                    ], Facsimile:
[                    ], (b) if to the Preferred Holder, at
[                    ], with a copy (which shall not constitute notice) to Finn Dixon & Herling LLP, One Landmark Square, Stamford,
Connecticut 06901, Attn.: Erik A. Bergman, Esq., Facsimile: (203) 348-5777, or (c) if to an Initial Common Holder, as indicated on the list of Initial Common Holders attached hereto as Schedule A. All such notices and other written
communications shall be effective on the earlier of: (i) five (5) days from the date of mailing, (ii) confirmed facsimile transfer, or (iii) actual receipt by the party to be notified. 

  
 15 

 3.5 Delays or Omissions. No delay or omission to exercise any right, power or remedy
accruing to any Unit Holder, upon any breach or default of the Company under this Agreement shall impair any such right, power or remedy of such Unit Holder nor shall it be construed to be a waiver of any such breach or default, or an acquiescence
therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default therefore or thereafter occurring. Any waiver, permit, consent or
approval of any kind or character on the part of any Unit Holder of any breach or default under this Agreement or any waiver on the part of any Unit Holder of any provisions or conditions of this Agreement must be made in writing and shall be
effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any Unit Holder, shall be cumulative and not alternative. 

3.6 Rights; Separability. Unless otherwise expressly provided herein, a Unit Holder’s rights hereunder are several rights,
not rights jointly held with any of the other Unit Holders. In case any provision of the Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or
impaired thereby. 
 3.7 Titles and Subtitles. The titles of the paragraphs and subparagraphs of this Agreement are for
convenience of reference only and are not to be considered in construing this Agreement. 
 3.8 Counterparts. This
Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. 
 3.9 Aggregation of Units. All Units held or acquired by affiliated entities or persons shall be aggregated together for the purpose of determining the availability of any rights under this
Agreement. 
 [Signatures begin on following page] 

  
 16 

 [Signature Page to Visalus Holdings, LLC Registration Rights Agreement] 

IN WITNESS WHEREOF, the parties hereto have executed this Registration Rights Agreement effective as of the day and year first above
written. 
 COMPANY: 
  

			
	VISALUS HOLDINGS LLC.
		
	By:	 	/s/ Ryan Blair
		 	Name: Ryan Blair
		 	Title:   

 PREFERRED HOLDER: 
  

			
	ROPART ASSET MANAGEMENT FUND, LLC
		
	By:	 	/s/ Todd A. Goergen
		 	Name: Todd A. Goergen
		 	Title:   

  

 SCHEDULE A 
 Initial Common Holders 
  

			
	 Name of Initial Common Holder
	  	 Address of Initial Common Holder

	Ryan Blair	  	6300 Wilshire Boulevard, Suite 1400
		  	Los Angeles, CA 90048
		
	Blake Mallen	  	6300 Wilshire Boulevard, Suite 1400
		  	Los Angeles, CA 90048
		
	Nick Sarnicola	  	6300 Wilshire Boulevard, Suite 1400
		  	Los Angeles, CA 90048

 EXHIBIT C 
 Form of Put Agreement 

 PUT AGREEMENT 

THIS PUT AGREEMENT (this “Agreement”), entered into as of the 5th day of December, 2005, is by and between ROPART ASSET MANAGEMENT
FUND, LLC, a Delaware limited liability company (“RAM”) and VISALUS HOLDINGS, LLC, a Delaware limited liability company (the “Company”). 
 W I T N E S S E T H: 
 WHEREAS, RAM owns one million, five hundred thousand (1,500,000) Series A Convertible Participating Preferred Units of the Company (such Series A Convertible Participating Preferred Units and any
Series A Convertible Participating Preferred Units subsequently purchased by RAM being referred to herein as the “Units”); and 
 WHEREAS, the Company desires to grant to RAM the right and option to require the Company to purchase all of the Units held by RAM at the times and upon the terms and conditions set forth herein.

 NOW, THEREFORE, in consideration of the foregoing premises, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 PUT RIGHT 

1. Put Right. The Company hereby grants to RAM the right and option to require the Company to purchase (the “Put Right”)
all, or any number of, the Units held by RAM at any time: 
 (a) on or after the fifth anniversary of the date hereof, at a
purchase price equal to the greater of the amounts calculated pursuant to Section 2(a) and 2(b) below; 
 (b) on or after
any date upon which the Company, any officer of the Company or any other member of the Company, or any affiliate of any thereof, violates the terms of Section 10.10(a) of the Amended and Restated Limited Liability Company Agreement of the
Company, dated as of the date hereof, as amended, regarding non-disclosure of the involvement of members of the Goergen family with the Company and such violation is not cured to the satisfaction of RAM, in its sole discretion, within 30 days of
such violation, at a purchase price determined pursuant to Section 2(a) below; and 
 (c) on or after any date upon which
the Company fails to comply with the financial reporting requirements set forth in Section 6.1 of the Amended and Restated Limited Liability Company Agreement of the Company, dated as of the date hereof, as amended, and such failure is not
cured within 30 days of such failure, at a purchase price determined pursuant to Section 2(b) below. 
 Any date upon which
the Put Right is exercised by RAM shall be referred to herein as a “Put Exercise Date”. 
 2. Purchase Price.
The price the Company shall pay for the Units upon exercise by RAM of the Put Right (the “Purchase Price”) shall be calculated as follows: 
 (a) an amount per Unit equal to two (2) times the amount per Unit paid by RAM for such Units as are being sold to the Company pursuant to the Put Right; or 

 (b) an amount equal to the fair market value of such Units as are being sold to the Company
pursuant to the Put Right, as agreed upon by RAM and the Company; provided that if RAM and the Company are unable to agree on the fair market value of such Units, the Company shall retain a qualified investment banker with no less than five
years of experience in valuing privately held companies (“Investment Banker”) (at the Company’s sole cost and expense) to determine the fair market value of the Units. The Investment Banker must be acceptable to RAM, which acceptance
will not be unreasonably withheld. There shall be no minority or liquidity discount applied to the Units in determining the fair market value. 
 3. Exercise of Put Right. RAM may exercise the Put Right by delivering to the Company, no later than thirty (30) days prior to the relevant Put Exercise Date, a notice (the “Put Exercise
Notice”) that RAM intends to exercise its Put Right. The Put Exercise Notice shall specify the Put Exercise Date upon which the parties shall consummate the purchase and sale of the Units (such consummation being referred to herein as the
“Put Closing”), and the number of Units to be subject to such purchase and sale. 
 4. Payment of Purchase
Price. Payment by the Company to RAM of any Put Purchase Price payable pursuant to this Agreement shall be made on a schedule to be agreed between the parties hereto in good faith, taking into account the then current cash flow of the Company
and the Company’s other financial resources, including the availability of financing. If and to the extent that the full amount of the Purchase Price is not paid at the Put Closing, the obligation of the Company to pay such unpaid amount shall
be evidenced by a promissory note, in a form to be provided by RAM, paying interest at 8% per annum and secured by a lien against all of the assets of the Company (the “Note”). 

5. Put Closing. The Put Closing shall occur at 11:00 a.m. on the Put Exercise Date at the offices of the legal counsel for RAM,
Finn Dixon & Herling LLP, One Landmark Square, Stamford, Connecticut 06901, or at such other time and place as the parties may agree. 
 (a) RAM Deliveries. At any Put Closing, RAM shall deliver to the Company the following: 
 (1) a Purchase and Sale Agreement (a “Purchase Agreement”) duly executed by RAM in a form to be agreed in good faith by the parties hereto, together with such instruments of transfer,
certificates, agreements and other documents as may be required pursuant thereto; 
 (2) all consents and approvals of any
governmental authority or other person that may be required to enable RAM to consummate the sale of the Units to be purchased and sold at such Put Closing. 
 (b) Company Deliveries. At any Put Closing, the Company shall deliver to RAM the following: 
 (1) a Purchase Agreement duly executed by the Company, together with such instruments of transfer, certificates, agreements and other documents as may be required pursuant thereto; 

(2) all consents and approvals of any governmental authority or other person that may be required to enable the Company to consummate
the purchase of the Units to be purchased and sold at such Put Closing; 
 (3) such other documents as may reasonably be
requested by RAM in connection with the purchase and sale of the Units to be purchased and sold at the Put Closing; and 

  
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 (4) such amount of the Put Purchase Price, if any, that has been agreed to be paid at the
Put Closing pursuant to Section 4 above and/or the Note. 
 6. Conditions Precedent to the Put Closing. 

(a) Conditions Precedent to the Company’s Obligations. The obligation of the Company to consummate the purchase of the Units
at the Put Closing shall be subject to the satisfaction of the following conditions at or before such Put Closing: 
 (1) each
condition precedent to the Company’s obligation to consummate the purchase of the Units to be purchased and sold at such Put Closing set forth in the Purchase Agreement shall have been satisfied or waived by the Company, in its sole discretion,
on or before the Put Closing Date; and 
 (2) all material consents or approvals of any governmental authority or other person
that are required for the consummation of the purchase and sale of the RAM Units to be purchased and sold at such Put Closing will have been obtained; and 
 (3) no action or proceeding before any court or government body, or any claim by a third party, will be pending or threatened against the Company or RAM wherein an unfavorable judgment, decree, order or
resolution thereof would prevent the carrying out of consummation of the purchase and sale of the Units to be purchased and sold at such Put Closing; and 
 (4) on the Put Closing Date, RAM will have delivered to the Company each of the items specified in Section 5(a), above. 
 (b) Conditions Precedent to RAM’s Obligations. The obligation of RAM to consummate the sale of the Units at the Put Closing shall be subject to the satisfaction of the following conditions at
or before such Put Closing: 
 (1) each condition precedent to RAM’s obligation to consummate the sale of the Units to be
purchased and sold at such Put Closing set forth in the Purchase Agreement shall have been satisfied or waived by RAM, in its sole discretion, on or before the Put Closing Date; and 

(2) all material consents or approvals of any governmental authority or other person that are required for the consummation of the
purchase and sale of the Units to be purchased and sold at such Put Closing will have been obtained; and 
 (3) no action or
proceeding before any court or government body, or any claim by a third party, will be pending or threatened against the Company or RAM wherein an unfavorable judgment, decree, order or resolution thereof would prevent the carrying out of
consummation of the purchase and sale of the Units to be purchased and sold at such Put Closing; and 
 (4) on the Put Closing
Date, the Company will have delivered to RAM each of the items specified in Section 5(b), above. 

  
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 MISCELLANEOUS 

7. Representations and Warranties of RAM. RAM represents and warrants to the Company as follows as of the date hereof and at all
times prior to the expiration of the Put Right: 
 (a) RAM has the full legal right and power and all authority and approvals
required to enter into, execute and deliver this Agreement and to perform fully RAM’s obligations hereunder. This Agreement has been duly executed and delivered by RAM and constitutes the legal, valid and binding obligation of RAM enforceable
against RAM in accordance with its terms. 
 (b) The execution and delivery of this Agreement, the consummation of the
transactions contemplated hereby and the performance by RAM of this Agreement in accordance with its terms and conditions will not: (i) require any notice to, filing or registration with, or permit, license, variance, waiver, exemption,
franchise, order, consent, authorization or approval of, any other person; (ii) violate, conflict with or result in a breach of any provision of or constitute a default (or an event which, with notice or lapse of time or both, would constitute
a default) under, or result in the termination of, or accelerate the performance required by, or result in the creation of any Lien on the Units or upon the assets, properties or businesses of RAM under, any of the terms, conditions or provisions of
any contract or other agreement to which RAM is a party or by or to which RAM or the Units are bound or subject; or (iii) violate any judgment, ruling, order, writ, injunction, award, decree, statute, law, ordinance, code, rule or regulation of
any court or foreign, federal, state, county or local government or any other governmental, regulatory or administrative agency or authority which is applicable to RAM or to the Units. As used in this Agreement, the terms “Lien” or
“Liens” mean and includes any lien, security interest, pledge, charge, option, right of first refusal, claim, mortgage, easement, restriction or any other encumbrance whatsoever. 

8. Representations and Warranties of the Company. The Company represents and warrants to RAM as follows as of the date hereof and
at all times prior to the expiration of the Put Right: 
 (a) The Company has the full legal right and power and all authority
and approvals required to enter into, execute and deliver this Agreement and to perform fully the Company’s obligations hereunder. This Agreement has been duly executed and delivered by the Company and constitutes the legal, valid and binding
obligation of the Company enforceable against the Company in accordance with its terms. 
 (b) The execution and delivery of
this Agreement, the consummation of the transactions contemplated hereby and the performance by the Company of this Agreement in accordance with its terms and conditions will not: (i) require any notice to, filing or registration with, or
permit, license, variance, waiver, exemption, franchise, order, consent, authorization or approval of, any other person; (ii) violate, conflict with or result in a breach of any provision of or constitute a default (or an event which, with
notice or lapse of time or both, would constitute a default) under, or result in the termination of, or accelerate the performance required by, or result in the creation of any Lien on the assets, properties or businesses of the Company under, any
of the terms, conditions or provisions of any contract or other agreement to which the Company is a party or by which the Company is bound; or (iii) violate any judgment, ruling, order, writ, injunction, award, decree, statute, law, ordinance,
code, rule or regulation of any court or foreign, federal, state, county or local government or any other governmental, regulatory or administrative agency or authority which is applicable to the Company. 

9. Specific Performance. If the Company breaches, or threatens to commit a breach of, any of the provisions hereof, RAM shall have
the right and remedy to seek from any court of competent jurisdiction specific performance of such provisions or injunctive relief against any act which would 

  
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violate any of such provisions (in addition to, and not in lieu of, any other rights and remedies available to RAM under law or in equity), it being acknowledged and agreed that any such breach
or threatened breach will cause irreparable injury to RAM and that money damages will not provide an adequate remedy to RAM. 

10. Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their heirs, legal
representatives, successors and assigns. 
 11. Governing Law; Jury Waiver; Jurisdiction and Venue. This Agreement shall
be governed by and construed in accordance with the domestic laws of the State of Connecticut without giving effect to any choice or conflict of law provision or rule (whether of the State of Connecticut or any other jurisdiction) that would cause
the application of the laws of any jurisdiction other than the State of Connecticut. Each of the parties hereto agrees that any legal action or proceeding with respect to this Agreement or the transactions contemplated hereby may be brought in the
United States District Courts located in the state of Connecticut and, by the execution and delivery of this Agreement, each of the parties hereto hereby irrevocably and unconditionally accepts, with regard to any such action or proceeding, the
nonexclusive jurisdiction of the aforesaid courts. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY TO THIS AGREEMENT HEREBY WAlVES, AND COVENANTS THAT HE, SHE OR IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE), ANY RIGHT TO
TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE, CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING OUT OF OR PASSED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF, WHETHER NOW EXISTING OR HEREAFTER ARISING AND WHETHER SOUNDING IN TORT OR
CONTRACT OR OTHERWISE. 
 12. Notices. Any and all notices, designations, consents, offers or any other communications
provided for or referred to herein shall be given in writing by personal delivery or by registered or certified mail, return receipt requested, addressed to each party as follows: 

 

			
	To the Company:	  	Visalus Holdings, LLC
		  	[Address]
		  	Attention: Ryan Blair
		
	Copy to:	  	Law In Progress, PC
		  	26895 Aliso Creek Rd. Suite B573
		  	Aliso Viejo CA 92656
		  	Attn: Gerald Wolfe
		
	To RAM:	  	Ropart Asset Management, LLC
		  	One East Weaver Street
		  	Greenwich, CT 06831
		  	Attention:
		
	Copy to:	  	Finn Dixon & Herling, LLP
		  	One Landmark Square
		  	Stamford, Connecticut 06901
		  	Attention: Erik A. Bergman, Esq.

 or at such other address as may be designated by such party in writing to the other parties, from time to
time. 

  
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 13. Invalid Provisions. The invalidity or unenforceability of any particular
provision of this Agreement shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provisions were omitted. 

14. Modification. No change or modification of this Agreement shall be binding or valid unless the same shall be in writing and
signed by all parties hereto. 
 15. Construction. The parties hereto have participated jointly in the negotiation and
drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or
disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. Any reference to any federal, state or local statute or law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless the
context requires otherwise. The word “including” shall mean including without limitation. Wherever required by the context, as used in this Agreement, the singular number shall include the plural, the plural shall include the singular and
all words herein in any gender shall be deemed to include the masculine, feminine and neutral genders. The parties hereto intend that each representation, warranty, and covenant contained herein shall have independent significance. If any party has
breached any representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty, or covenant relating to the same subject matter (regardless of the relative levels of specificity) which
such party has not breached shall not detract from or mitigate the fact that such party is in breach of the first representation, warranty, or covenant. 
 16. Entire Agreement. This Agreement constitutes the entire agreement among the parties hereto with respect to the subject matter hereof and supersedes any prior understandings, agreements, or
representations by or among the parties hereto, written or oral, to the extent they related in any way to the subject matter hereof. 
 17. Counterparts; Facsimile Signature. This Agreement may be executed by facsimile and in one or more counterparts, each of which shall be deemed an original but all of which together will
constitute one and the same instrument. 
 18. Headings. The section headings contained in this Agreement are inserted
for convenience only and shall not affect in any way the meaning or interpretation of this Agreement. 
 19. Expenses.
Except as otherwise expressly provided in this Agreement, each of the parties hereto will bear his or its own costs and expenses (including legal fees and expenses) incurred in connection with this Agreement and the transactions contemplated hereby.

 20. Additional Acts and Documents. Each party hereto agrees to do such things, take all such actions, and make,
execute and deliver such other documents and instruments, as shall be reasonably requested to carry out the provisions, intent and purpose of this Agreement, in each case, at the sole expense of the party or parties so requested. 

21. No Waiver. Failure of any party to this Agreement to require performance by another of any provision expressed herein shall in
no way affect that party’s right to thereafter enforce such provision; nor shall the waiver by any party of any breach of any provision expressed herein be taken or held to be a waiver of any succeeding or other breach of such provision or as a
waiver of the provision itself or of any other provision. 

  
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 22. No Third-Party Beneficiaries. With the exception of the parties to this
Agreement, there shall exist no right of any person to claim a beneficial interest in this Agreement or any rights occurring by virtue of this Agreement. 
 [Signatures are on the following page.] 

  
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 IN WITNESS WHEREOF, the parties have executed this instrument to be
effective on the day and year first above written. 
  

			
	VISALUS HOLDINGS, LLC
	
	By: /s/ Ryan Blair                
	       Name:
       Title:

	
	ROPART ASSET MANAGEMENT FUND, LLC
	
	 By: /s/ Todd A. Goergen
                

	       Name:
       Title:

 [Signature Page to Put Agreement] 

  
 8Loan and Security Agreement dated as of July 30, 2008

 Exhibit 10.18 
 LOAN AND SECURITY AGREEMENT 
 DATED AS OF JULY 30, 2008 

BETWEEN 

BLYTH VSH ACQUISITION CORPORATION, 
 AS LENDER 
 AND 

FVA VENTURES, INC., 
 AS BORROWER 
 AND 

VISALUS HOLDINGS, LLC, 
 AS A GUARANTOR 

 INDEX OF EXHIBITS AND SCHEDULES 

 

			
	Schedule A    -	  	Definitions
	Schedule B    -	  	Lender’s and Borrower’s Addresses for Notices
	Schedule C    -	  	Schedule of Documents
	Schedule D    -	  	Financial Covenants

			
		
	Disclosure Schedule (3.2)    -	 	Places of Business; Corporate Names
	Disclosure Schedule (3.7)    -	 	Stock; Affiliates
	Disclosure Schedule (3.9)    -	 	Taxes
	Disclosure Schedule (3.11)  -	 	ERISA
	Disclosure Schedule (3.12)  -	 	Litigation
	Disclosure Schedule (3.13)  -	 	Intellectual Property
	Disclosure Schedule (3.15)  -	 	Environmental Matters
	Disclosure Schedule (3.16)  -	 	Insurance
	Disclosure Schedule (3.20)	 	Compliance with Laws
	Disclosure Schedule (5(b))  -	 	Indebtedness
	Disclosure Schedule (5(e))  -	 	Liens
	Disclosure Schedule (6.1)   -	 	Actions to Perfect Liens

			
		
	Exhibit A    -	  	Form of Notice of Revolving Credit Advance
	Exhibit B    -	  	Other Reports and Information
	Exhibit C    -	  	Form of Revolving Credit Note
	Exhibit D    -	  	Form of Secretarial Certificate
	Exhibit E    -	  	Form of Power of Attorney
	Exhibit F    -	  	Form of Certificate of Compliance

  
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 This LOAN AND SECURITY AGREEMENT is dated as of July 30, 2008 and agreed to by and between FVA
VENTURES, INC., a California corporation (“Borrower”), VISALUS HOLDINGS, LLC, a Delaware limited liability company (“Holdings”, and together with Borrower, collectively, and each individually as the context may require, are
referred to herein as a “Credit Party”), and BLYTH VSH ACQUISITION CORPORATION, a Delaware corporation (“Lender”). 
 RECITALS 
 A. Borrower desires to obtain the Revolving Credit Loans from Lender and Lender is
willing to provide the Revolving Credit Loans in accordance with the terms of this Agreement. 
 B. Borrower has agreed to secure all of its
obligations under the Loan Documents by granting to Lender, a security interest in and lien upon substantially all of its existing and after-acquired personal property and to pledge to Lender, all of the Stock of its Subsidiaries to secure such
obligations. 
 C. Holdings is willing to guarantee all of the obligations of Borrower to Lender under the Loan Documents and secure its
guaranty by granting to Lender, a security interest in and lien upon substantially all of its existing and after-acquired personal property and to pledge to Lender, subject to Section 9.14 of this Agreement, all of the Stock of its domestic
Subsidiaries, including the Stock of Borrower. 
 D. Capitalized terms used herein shall have the meanings assigned to them in Schedule A
and, for purposes of this Agreement and the other Loan Documents, the rules of construction set forth in Schedule A shall govern. All schedules, attachments, addenda and exhibits hereto, or expressly identified to this Agreement, are
incorporated herein by reference, and taken together with this Agreement, constitute but a single agreement. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter contained, the parties hereto agree as follows: 

 

	1.	AMOUNT AND TERMS OF CREDIT 

 1.1 Loans.
(a) Subject to the terms and conditions of this Agreement, from the Closing Date and until the Commitment Termination Date (i) Lender agrees to make available to Borrower advances (each, a “Revolving Credit Advance”) in an
aggregate outstanding amount not to exceed the Borrowing Availability, and (ii) Borrower may at its request from time to time borrow, repay and reborrow, under this Section 1.1. The Revolving Credit Loan shall be evidenced by, and be
repayable in accordance with the terms of, the Revolving Credit Note and this Agreement. 
 (b) Borrower shall request each
Revolving Credit Advance by written notice to Lender substantially in the form of Exhibit A (each a “Notice of Revolving Credit Advance”) given no later than 11:00 A.M. New York City time on the Business Day of the proposed advance.
Lender shall be fully protected under this Agreement in relying upon, and shall be entitled to rely upon, (i) any Notice of Revolving Credit Advance believed by Lender to be genuine, and (ii) the assumption that the Persons making
electronic requests or executing and delivering a Notice of Revolving Credit Advance were duly authorized, unless the responsible individual acting thereon for Lender shall have actual knowledge to the contrary. As an accommodation to Borrower,
Lender may permit telephonic, electronic or facsimile requests for a Revolving Credit Advance and electronic or facsimile transmittal of instructions, authorizations, agreements or reports to Lender by Borrower. Unless Borrower specifically directs
Lender in writing not to accept or act upon telephonic, facsimile or electronic communications from Borrower, Lender shall have no liability to Borrower for any loss or damage suffered by Borrower as a result of Lender’s

  
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honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically and purporting
to have been sent to Lender by Borrower and Lender shall have no duty to verify the origin of any such communication or the identity or authority of the Person sending it. At the time it delivers any Notice of Revolving Credit Advance, Borrower
shall deliver to Lender any changes to the disclosure schedules to this Agreement, a copy of which schedules shall be appropriately marked against the disclosure schedules previously delivered to Lender to identify such changes, and, upon
Lender’s approval thereof in Lender’s sole discretion, the disclosure schedules hereto will be deemed amended to reflect such changes. 
 1.2 Term and Prepayment. (a) Upon the Commitment Termination Date the obligation of Lender to make Revolving Credit Advances and extend other credit hereunder shall immediately terminate and
Borrower shall pay to Lender in full, in cash: (i) all outstanding Revolving Credit Advances and all accrued but unpaid interest thereon; and (ii) all other non-contingent Obligations due to or incurred by Lender. 

(b) If the outstanding balance of the Revolving Credit Loan shall at any time exceed the Borrowing Availability, including without
limitation, if applicable, due to the Maximum Amount being reduced as contemplated by the definition thereof, then Borrower shall immediately repay the Revolving Credit Loan in the amount of such excess. 

(c) Borrower shall have the right, at any time upon five (5) days’ prior written notice to Lender to (i) terminate
voluntarily Borrower’s right to receive or benefit from, and Lender’s obligation to make Revolving Credit Advances, and (ii) prepay all of the Obligations. The effective date of termination of the Revolving Credit Loan specified in
such notice shall be the Commitment Termination Date. 
 1.3 Use of Proceeds. Borrower shall use the proceeds of the Revolving Credit
Loans for working capital and other general corporate purposes. 
 1.4 Single Loan. The Revolving Credit Loans and all of the other
Obligations of Borrower to Lender shall constitute one general obligation of Borrower secured by all of the Collateral. 
 1.5 Interest.
(a) Borrower shall pay interest to Lender on the aggregate outstanding Revolving Credit Advances (i) at a floating rate equal to the non-default rate per annum charged from time to time with respect to Base Rate Loans (as defined in the
current Blyth Credit Agreement) (or such rate that would be charged at any applicable time if such Base Rate Loans or other prime loans, as applicable, were then outstanding at such time) or such other loans under the applicable Blyth Credit
Agreement based on the “prime rate” or (ii) if no Blyth Credit Agreement is in existence, at a floating rate equal to the JPMorgan Chase Bank N.A. prime rate as announced from time to time (in each case, the “Revolving Credit
Rate”). All computations of interest shall be made by Lender on the basis of a three hundred and sixty (360) day year, in each case for the actual number of days occurring in the period for which such interest is payable. Each
determination by Lender of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error. In no event will Lender charge interest at a rate that exceeds the highest rate of interest permissible under any law that
a court of competent jurisdiction shall, in a final determination, deem applicable. 
 (b) Interest shall be payable on the
outstanding Revolving Credit Advances (i) in arrears for the preceding calendar quarter on the last day of each calendar quarter, (ii) on the Commitment Termination Date, and (iii) if any interest accrues or remains payable after the
Commitment Termination Date, upon demand by Lender. 
 (c) Effective upon the occurrence of any Event of Default and for so long
as any Event of Default shall be continuing, the Revolving Credit Rate shall automatically be increased by two percentage points (2%) per annum (such increased rate, the “Default Rate”), and all outstanding Obligations shall continue
to accrue interest from the date of such Event of Default at the Default Rate applicable to such Obligations. 

  
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 (d) If any interest or any other payment to Lender under this Agreement becomes due and
payable on a day other than a Business Day, such payment date shall be extended to the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension. 

1.6 Mandatory Prepayment. On the last day of each calendar month after the Closing Date, if the Credit Parties, in the aggregate, maintain cash
and Cash Equivalents (excluding the proceeds of the Preferred Interest Purchase Price (as such term is defined in the Purchase Agreement)) in excess of an amount to be agreed upon by Borrower and Lender on a monthly basis at the time the applicable
Financial Statements are delivered by Borrower to Lender at the end of each month pursuant to Section 4.1, which amount will initially be $1,500,000 (such amount, at any particular time, the “Cash Amount”), then, within three days
after the last day of such calendar month, the Borrower shall (a) repay the outstanding Revolving Credit Loans in an amount equal to the amount necessary to cause the Credit Parties, in the aggregate, to maintain cash and Cash Equivalents
(excluding, if applicable, the proceeds of the Preferred Interest Purchase Price) of not more than the Cash Amount after giving effect to such repayment and (b) deliver to Lender a confirmation of an authorized officer certifying as to the
amount of any repayment and the cash and Cash Equivalents being maintained by the Credit Parties after giving effect to such repayment. 
 1.7
Reserved. 
 1.8 Receipt of Payments. Borrower shall make each payment under this Agreement (not otherwise made pursuant to
Section 1.9) without set-off, counterclaim or deduction and free and clear of all Taxes not later than 2:00 P.M. (New York City time) on the day when due in lawful money of the United States of America in immediately available funds to the
Collection Account. If Borrower shall be required by law to deduct any Taxes from any payment to Lender under any Loan Document, then the amount payable to Lender shall be increased so that, after making all required deductions, Lender receives an
amount equal to that which it would have received had no such deductions been made. Borrower will furnish to Lender within 45 days after the date of the payment of any Taxes due pursuant to applicable law, certified copies of tax receipts evidencing
such payment by Borrower. For purposes of computing interest and Fees and determining Borrowing Availability as of any date, all payments shall be deemed received on the Business Day on which immediately available funds therefor are received in the
Collection Account prior to 2:00 p.m. New York time. Payments received after 2:00 p.m. New York time on any Business Day or on a day that is not a Business Day shall be deemed to have been received on the following Business Day. 

1.9 Application and Allocation of Payments. During the continuance of an Event of Default, Borrower irrevocably agrees that Lender shall have the
continuing and exclusive right to apply any and all payments against the then due and payable Obligations in such order as Lender may deem advisable. Lender is authorized to, and at its option may (without prior notice or precondition and at any
time or times), but shall not be obligated to, make or cause to be made Revolving Credit Advances on behalf of Borrower for: (a) payment of all Fees, expenses, indemnities, charges, costs, principal, interest, or other Obligations owing by
Borrower under this Agreement or any of the other Loan Documents, (b) the payment, performance or satisfaction of any of Borrower’s obligations with respect to preservation of the Collateral, or (c) any premium in whole or in part
required in respect of any of the policies of insurance required by this Agreement, even if the making of any such Revolving Credit Advance causes the outstanding balance of the Revolving Credit Loan to exceed the Borrowing Availability, and
Borrower agrees to repay immediately, in cash, any amount by which the Revolving Credit Loan exceeds the Borrowing Availability. 
 1.10
Accounting. Lender is authorized to record on its books and records the date and amount of each Revolving Credit Loan and each payment of principal thereof and such recordation shall constitute prima facie evidence of the accuracy of the
information so recorded. Lender shall provide Borrower on a monthly basis a statement and accounting of such recordations but any failure on the part of the Lender to keep any such recordation (or any errors therein) or to send a statement thereof
to Borrower shall not in any manner affect the obligation of Borrower to repay any of the Obligations. Except to the extent that Borrower shall, within thirty (30) days after such statement and accounting is sent, notify Lender in writing of
any objection Borrower may have thereto (stating with particularity the basis for such objection), such statement and accounting shall be deemed final, binding and conclusive upon Borrower, absent manifest error. 

  
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 1.11 Indemnity. Borrower and each other Credit Party executing this Agreement jointly and severally
agree to indemnify and hold Lender and its Affiliates, and their respective employees, attorneys and agents (each, an “Indemnified Person”), harmless from and against any and all suits, actions, proceedings, claims, damages, losses,
liabilities and expenses of any kind or nature whatsoever (including reasonable attorneys’ fees and disbursements and other costs of investigation or defense, including those incurred upon any appeal) that may be instituted or asserted against
or incurred by any such Indemnified Person as the result of credit having been extended, suspended or terminated under this Agreement and the other Loan Documents or with respect to the execution, delivery, enforcement, performance and
administration of, or in any other way arising out of or relating to, this Agreement and the other Loan Documents or any other documents or transactions contemplated by or referred to herein or therein and any actions or failures to act with respect
to any of the foregoing, including any and all product liabilities, Environmental Liabilities, Taxes and legal costs and expenses arising out of or incurred in connection with disputes between or among any parties to any of the Loan Documents
(collectively, “Indemnified Liabilities”), except to the extent that any such Indemnified Liability is finally determined by a court of competent jurisdiction to have resulted solely from such Indemnified Person’s gross negligence or
willful misconduct. NO INDEMNIFIED PERSON SHALL BE RESPONSIBLE OR LIABLE TO ANY CREDIT PARTY, ANY SUCCESSOR, ASSIGNEE OR THIRD PARTY BENEFICIARY OR ANY OTHER PERSON ASSERTING CLAIMS DERIVATIVELY THROUGH SUCH PARTY, FOR ANY ACT OR FAILURE TO ACT
UNDER ANY POWER OF ATTORNEY OR FOR INDIRECT, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL DAMAGES THAT MAY BE ALLEGED AS A RESULT OF CREDIT HAVING BEEN EXTENDED, SUSPENDED OR TERMINATED UNDER THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR AS A RESULT OF ANY
OTHER TRANSACTION CONTEMPLATED HEREUNDER OR THEREUNDER. 
  

	2.	CONDITIONS PRECEDENT 

 2.1 Conditions to the
Initial Loans. Lender shall not be obligated to make any of the Revolving Credit Loans or to perform any other action hereunder, until the following conditions have been satisfied in a manner satisfactory to Lender in its sole discretion, or
waived in writing by Lender: 
 (a) the Loan Documents to be delivered on or before the Closing Date shall have been duly
executed and delivered by the appropriate parties, all as set forth in the Schedule of Documents (Schedule C); 
 (b) all
of the obligations of Borrower to the Persons listed on Schedule 2.1(b) under its financing documentation as in effect immediately prior to the Closing Date will be performed and paid in full from the proceeds of the initial Revolving Credit Loans
and all Liens, if any, upon any of the property of any Credit Party in respect thereof shall have been terminated immediately upon such payment; 
 (c) Lender shall have received evidence satisfactory to it that the insurance policies provided for in Section 3.16 are in full force and effect, together with appropriate evidence showing loss payable or
additional insured clauses or endorsements in favor of Lender as required under such Section; and 
 (d) Lender shall have
received an opinion(s) of counsel to the Borrower with respect to the Loan Documents in form and substance satisfactory to Lender. 
 2.2
Further Conditions to the Loans. Lender shall not be obligated to fund any Revolving Credit Loan (including the initial Revolving Credit Loans), if, as of the date thereof: 

(a) any representation or warranty by any Credit Party contained herein or in any of the other Loan Documents shall be untrue or
incorrect in any material respect as of such date, except (i) to the extent that any such representation or warranty is expressly stated to relate to a specific earlier date, in which case, such representation and warranty shall be true and
correct in all material respects as of such earlier date and (ii) to the extent that any such representation or warranty (including the representations and warranties referred to in clause (i)) is qualified by materiality, such representation
and warranty shall be true and correct in all respects; or 

  
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 (b) any event or circumstance that has had or reasonably could be expected to have a
Material Adverse Effect shall have occurred since the Closing Date; or 
 (c) any Default shall have occurred and be continuing
or would result after giving effect to such Revolving Credit Loan; or 
 (d) after giving effect to such Revolving Credit Loan,
the Revolving Credit Loan would exceed the Borrowing Availability. 
 The request and acceptance by Borrower of the proceeds of any Revolving
Credit Loan shall be deemed to constitute, as of the date of such request and the date of such acceptance, (i) a representation and warranty by Borrower that the conditions in this Section 2.2 have been satisfied and (ii) a
restatement by Borrower of each of the representations and warranties made by it in any Loan Document and a reaffirmation by Borrower of the granting and continuance of Lender’s Liens pursuant to the Loan Documents. 

 

	3.	REPRESENTATIONS, WARRANTIES AND AFFIRMATIVE COVENANTS 

 To induce Lender to enter into this Agreement and to make the Revolving Credit Loans, Borrower and each other Credit Party executing this Agreement represent and warrant to Lender (each of which
representations and warranties shall survive the execution and delivery of this Agreement), and promise to and agree with Lender until the Termination Date as follows: 
 3.1 Corporate Existence: Compliance with Contractual Obligations. Each Credit Party: (a) is, as of the Closing Date, and will continue to be (i) a corporation, limited liability company
or limited partnership, as applicable, duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, (ii) duly qualified to do business and in good standing in each other
jurisdiction where its ownership or lease of property or the conduct of its business requires such qualification, except where the failure to be so qualified could not reasonably be expected to have a Material Adverse Effect, and (iii) in
compliance with all Contractual Obligations, except to the extent failure to comply therewith could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and (b) has and will continue to have the
requisite corporate, limited liability or limited partnership (as applicable) power and authority and the legal right to execute, deliver and perform its obligations under the Loan Documents, and to own, pledge, mortgage or otherwise encumber and
operate its properties, to lease the property it operates under lease, and to conduct its business as now, heretofore or proposed to be conducted. 
 3.2 Executive Offices: Corporate or Other Names. As of the Closing Date: (a) each Credit Party’s name as it appears in official filings in the state of its incorporation or organization,
(b) the type of entity of each Credit Party, (c) the organizational identification number issued by each such Credit Party’s state of incorporation or organization or a statement that no such number has been issued, (d) each Credit
Party’s state of organization or incorporation, and (e) the location of each Credit Party’s chief executive office, corporate offices, warehouses, other locations of Collateral and locations where records with respect to Collateral
are kept (including in each case the county of such locations) are as set forth in Disclosure Schedule (3.2) and, except as set forth in such Disclosure Schedule, such locations have not changed during the preceding twelve months. As of
the Closing Date, during the prior five years, except as set forth in Disclosure Schedule (3.2), no Credit Party has been known as or conducted business in any other name (including trade names). Each Credit Party has only one state of
incorporation or organization. 
 3.3 Corporate Power: Authorization: Enforceable Obligations. The execution, delivery and performance by
each Credit Party of the Loan Documents to which it is a party, and the creation of all Liens provided for herein and therein: (a) are and will continue to be within such Credit Party’s power and authority; (b) have been and will
continue to be duly authorized by all necessary or proper action; (c) are not and will not be in violation of any Requirement of Law or Contractual Obligation of such Credit Party; (d) do not and will not result in the creation or
imposition of any Lien (other than Permitted Encumbrances) upon any of the Collateral; and (e) do not and will not require the consent or approval of any Governmental Authority or any other Person. As of the Closing Date, each

  
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Loan Document shall have been duly executed and delivered on behalf of each Credit Party party thereto, and each such Loan Document upon such execution and delivery shall be and will continue to
be a legal, valid and binding obligation of such Credit Party, enforceable against it in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency and other similar laws affecting creditors’ rights
generally. 
 3.4 Financial Statements and Projections; Books and Records. (a) The following financial statements have been
delivered by Borrower and Holdings, as applicable, to Lender prior to the Closing Date: (i) Borrower’s audited, non-consolidated balance sheet for the fiscal years ended December 31, 2006 and December 31, 2007 and the related
non-consolidated statements of income and cash flows for the periods then ended (the “Audited Financials”): (ii) Borrower’s unaudited, non-consolidated balance sheet for the five month period ended May 31, 2008 (the
“FVA Balance Sheet”) and (iii) the unaudited, non-consolidated balance sheet of Holdings for the fiscal year ended December 31, 2007 and the related unaudited, non-consolidated income statement for the period then ended,
and the unaudited, consolidated balance sheet of Holdings for the fiscal year ended December 31, 2007 and the related unaudited, consolidated income statement for the period then ended (collectively, the “Unaudited Holdings
Financials”). The Audited Financials have been prepared in accordance with GAAP and fairly present the financial position, results of operations and cash flows of Borrower, on a non- consolidated basis, as of the dates and for the periods
indicated. The Unaudited Holdings Financials have been prepared by management of the Company in accordance with GAAP (except for the absence of footnote disclosure and any year end audit adjustments) and fairly present the financial position,
results of operations and cash flows of Holdings, on a non- consolidated basis, as of the dates and for the periods indicated. The FVA Balance Sheet has been prepared by management of the Company. 

(b) The Financial Statements (other than the Financial Statements referred to in paragraph (a) above) delivered by each of Holdings
and Borrower to Lender, for its most recently ended Fiscal Year and Fiscal Month, are true, correct and complete and reflect fairly and accurately, in all material respects, the financial condition of Borrower and Holdings, as applicable as of the
date of each such Financial Statement in accordance with GAAP (except for the absence of footnote disclosure and any year end audit adjustments with respect to any interim Financial Statements). The Projections most recently delivered by Borrower to
Lender have been prepared in good faith, with care and diligence and use assumptions that are reasonable under the circumstances at the time such Projections were prepared and as of the date delivered to Lender and all such assumptions are disclosed
in the Projections. 
 (c) Borrower and each other Credit Party shall keep adequate Books and Records with respect to the
Collateral and its business activities in which proper entries, reflecting all consolidated and consolidating financial transactions, and payments and credits received on, and all other dealings with, the Collateral, will be made in accordance with
GAAP and all Requirements of Law and on a basis consistent with the Financial Statements. 
 3.5 Material Adverse Change. Between the
date of Borrower’s most recently audited Financial Statements delivered to Lender and the Closing Date: (a) no Credit Party has incurred any obligations, contingent or non- contingent liabilities, or liabilities for Charges, long-term
leases or unusual forward or long-term commitments that are not reflected in the Projections delivered on the Closing Date and which could, alone or in the aggregate, reasonably be expected to have a Material Adverse Effect; and (b) no events
have occurred that alone or in the aggregate have had or could reasonably be expected to have a Material Adverse Effect. No Requirement of Law or Contractual Obligation of any Credit Party has or have had or could reasonably be expected to have a
Material Adverse Effect. No Credit Party is in default, and to such Credit Party’s knowledge no third party is in default, under or with respect to any of its Contractual Obligations, that alone or in the aggregate has had or could reasonably
be expected to have a Material Adverse Effect. 
 3.6 Real Estate: Property. Except as permitted by the Purchase Agreement, the Credit
Parties will not execute any material agreement or contract after the date hereof in respect of any real estate of the Credit Parties leased or used in their business as of the date hereof without giving Lender prompt prior written notice thereof.
Each Credit Party holds and will continue to hold good title to all of its tangible personal properties and assets, and valid and 

  
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insurable leasehold interests in all of its leases (both as lessor and lessee, sublessee or assignee), and none of the properties and assets of any Credit Party are or will be subject to any
Liens, except Permitted Encumbrances. As of the Closing Date, the Credit Parties do not own any real property. 
 3.7 Ventures, Subsidiaries
and Affiliates: Outstanding Stock and Indebtedness. Except as set forth in Disclosure Schedule (3.7), as of the Closing Date no Credit Party has any Subsidiaries, is engaged in any joint venture or partnership with any other Person, or is
an Affiliate of any other Person. All of the issued and outstanding Stock of each Credit Party (including all rights to purchase, options, warrants or similar rights or agreements pursuant to which any Credit Party may be required to issue, sell,
repurchase or redeem any of its Stock) as of the Closing Date is owned by each of the Stockholders (and in the amounts) set forth in Disclosure Schedule (3.7). All outstanding Indebtedness of each Credit Party as of the Closing Date is
described in Disclosure Schedule (5(b)). 
 3.8 Government Regulation: Margin Regulations. No Credit Party is subject to or
regulated under any Federal or state statute, rule or regulation that restricts or limits such Person’s ability to incur Indebtedness, pledge its assets, or to perform its obligations under the Loan Documents. The making of the Revolving Credit
Loans, the application of the proceeds and repayment thereof, and the consummation of the transactions contemplated by the Loan Documents do not and will not violate any Requirement of Law. No Credit Party is engaged, nor will it engage, in the
business of extending credit for the purpose of “purchasing” or “carrying” any “margin security” as such terms are defined in Regulation U of the Federal Reserve Board as now and hereafter in effect (such securities
being referred to herein as “Margin Stock”). No Credit Party owns any Margin Stock, and none of the proceeds of the Revolving Credit Loans or other extensions of credit under this Agreement will be used, directly or indirectly, for the
purpose of purchasing or carrying any Margin Stock or reducing or retiring any Indebtedness that was originally incurred to purchase or carry any Margin Stock. No Credit Party will take or permit to be taken any action that might cause any Loan
Document to violate any regulation of the Federal Reserve Board. 
 3.9 Taxes: Charges. Except as disclosed in Disclosure Schedule
(3.9) all income tax and other material tax returns required by any Governmental Authority to be filed by any Credit Party have, as of the Closing Date, been timely filed and will, until the Termination Date, be timely filed with the
appropriate Governmental Authority and no tax Lien has been filed against any Credit Party or any Credit Party’s property. Such tax returns, reports and statements accurately reflect in all material respects all liability for Charges of the
Credit Parties for the periods covered thereby. Credit Parties have paid, or will pay, within the time and in the manner prescribed by applicable law, all material Taxes due and payable (whether or not shown on any tax return). Proper and accurate
amounts have been and will be withheld by Borrower and each other Credit Party from their respective employees for all periods in material compliance with all Requirements of Law and such withholdings have and will be timely paid to the appropriate
Governmental Authorities. Disclosure Schedule (3.9) sets forth as of the Closing Date those taxable years for which any Credit Party’s tax returns are currently being audited by the IRS or any other applicable Governmental Authority
and any assessments or threatened assessments in connection with such audit, or otherwise currently outstanding. Except as described on Disclosure Schedule (3.9), none of the Credit Parties or their respective predecessors are liable for any
material Charges: (a) under any agreement (including any tax sharing agreements or agreement extending the period of assessment of any Charges) or (b) to each Credit Party’s knowledge, as a transferee. As of the Closing Date, no
Credit Party has agreed or been requested to make any adjustment under IRC Section 481(a), by reason of a change in accounting method or otherwise, which could reasonably be expected to have a Material Adverse Effect. No Credit Party has
entered into an agreement or wavier or been requested to enter into an agreement or waiver extending any statute of limitations relating to the payment or collection of taxes. 
 3.10 Payment of Obligations. Each Credit Party has paid, discharged or otherwise satisfied, and will continue to pay, discharge or otherwise satisfy at or before maturity or before they become
delinquent, as the case may be, all of its Charges and other obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with
respect thereto have been provided on the books of such Credit Party and none of the Collateral is or could reasonably be expected to become subject to any Lien or forfeiture or loss as a result of such contest. 

  
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 3.11 ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together
with all other existing ERISA Events, could reasonably be expected to result in a liability of any Credit Party of more than the Minimum Actionable Amount. Except as disclosed in Disclosure Schedule (3.11), the present value of all
accumulated benefit obligations of the Credit Parties under each Plan (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent Financial Statements reflecting
such amounts, exceed the fair market value of the assets of such Plan by more than the Minimum Actionable Amount, and the present value of all accumulated benefit obligations of all underfunded Plans (based on the assumptions used for purposes of
Statement of Financial Account Standards No. 87) did not, as of the date of the most recent Financial Statements reflecting such amounts, exceed the fair market value of the assets of such underfunded Plans by more than the Minimum Actionable
Amount. No Credit Party or ERISA Affiliate has incurred or reasonably expects to incur any Withdrawal Liability in excess of the Minimum Actionable Amount. 
 3.12 Litigation. No Litigation is pending or, to the knowledge of any Credit Party, threatened by or against any Credit Party or against any Credit Party’s properties or revenues (a) with
respect to any of the Loan Documents or any of the transactions contemplated hereby or thereby, or (b) that could reasonably be expected to have a Material Adverse Effect. Except as set forth in Disclosure Schedule (3.12), as of the
Closing Date there is no Litigation pending or threatened against any Credit Party that seeks damages in excess of $100,000 or injunctive relief or alleges criminal misconduct of any Credit Party. Each Credit Party shall notify Lender promptly in
writing upon learning of the existence, threat or commencement of any Litigation against any Credit Party, any ERISA Affiliate or any Plan or any allegation of criminal misconduct against any Credit Party. 

3.13 Intellectual Property. As of the Closing Date, all material Intellectual Property owned or used by any Credit Party is listed (excluding
readily available “off the shelf,” “shrink wrapped” software), together with application or registration numbers, where applicable, in Disclosure Schedule (3.13). Each Credit Party owns, or is licensed to use, all
Intellectual Property necessary to conduct its business as currently conducted except for such Intellectual Property the failure of which to own or license could not reasonably be expected to have a Material Adverse Effect. Each Credit Party will
maintain the patenting and registration of all Intellectual Property with the United States Patent and Trademark Office, the United States Copyright Office, or other appropriate Governmental Authority and each Credit Party will promptly patent or
register, as the case may be, all new Intellectual Property material to the business of any Credit Party and notify Lender in writing five (5) Business Days prior to filing any such new patent or registration. 

3.14 Full Disclosure. No factual information, taken as a whole, contained in any Loan Document, the Financial Statements or any written statement
furnished by or on behalf of any Credit Party under any Loan Document, contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained herein or therein, taken as a whole, not misleading
in light of the circumstances under which they were made. For the avoidance of doubt, the parties acknowledge that the Projections, financial forecasts and estimates and information of a general industry or economic nature are not facts and not
subject to the provisions of this Section 3.14. 
 3.15 Environmental Protection. (a) Except as set forth in Disclosure
Schedule (3.15) or as would not reasonably be expected to have a Material Adverse Effect: 
  

	 	(i)	 Each Credit Party has complied in all material respects with all applicable Environmental Laws. Each Credit Party has prepared and filed with the
appropriate Governmental Authorities all reports, notifications, and filings required pursuant to any applicable Environmental Laws for the operation of each Credit Party and the operation or occupation of each real property location owned, leased
or occupied by each Credit Party (the “Real Property”) including any such as are required as a result of the transactions contemplated hereby. Since January 1, 2007, no Credit Party has received any notice or other information
regarding any actual or alleged violation of, any actual or potential Environmental 

  
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Liabilities under, or any corrective or remedial obligation under, any Environmental Law and to the knowledge of each Credit Party, no basis for any such notice exists. No Credit Party has been
notified that it is potentially responsible or liable, or received any requests for information or other correspondence concerning any site or facility, under the applicable Environmental Laws. No Credit Party has entered into or received any
consent, decree, compliance order, or administrative order pursuant to all applicable Environmental Laws. 

  

	 	(ii)	Each Credit Party holds all environmental permits necessary to conduct its operations including any such environmental permits as are required as a result of the
transactions contemplated hereby. Disclosure Schedule 3.15 contains a true, complete and accurate list of all such environmental permits and, where applicable, their expiration dates. The Credit Parties do not have any reason to believe that any
such environmental permits (A) will not be renewed, or (B) will be renewed under terms that are reasonably likely to have a Material Adverse Effect. 

 

	 	(iii)	No Credit Party has treated, stored, disposed of, arranged for or permitted the disposal of, transported, handled or released any substance including without limitation
any Materials of Environmental Concern, or operated any property or facility (and no such property or facility, including the Real Property, is contaminated by any such substance) in a manner that has given rise to Environmental Liabilities pursuant
to any applicable Environmental Laws, including any Environmental Liabilities for response costs, corrective action costs, personal injury, property damage, natural resources damage or attorney fees, or any investigative, corrective or remedial
obligations. 

 (b) There are no reports, studies, assessments, audits, and other similar documents in the possession or control
of the Credit Parties that address any issues of actual or potential noncompliance with or actual or potential Environmental Liabilities under, any Environmental Laws that may affect any Credit Party as of the Closing Date. Copies of all such
reports have been provided or made available to Lender prior to the signing hereof. 
 (c) None of the matters set forth in Disclosure Schedule
3.15, or any aggregation thereof, could reasonably be expected to result in a Material Adverse Effect. 
 3.16 Insurance. As of the
Closing Date, Disclosure Schedule (3.16) lists all policies of casualty, liability and business interruption insurance, if any, maintained for current occurrences by each Credit Party. Each Credit Party shall deliver to Lender
endorsements to all of its and those of its domestic Subsidiaries other than PathConnect (a) “All Risk” and business interruption insurance policies naming Lender loss payee, and (b) general liability and other liability policies
naming Lender as an additional insured. All policies of insurance on real and personal property, will contain an endorsement, in form and substance acceptable to Lender, showing loss payable to Lender (Form 438 BFU or equivalent) and extra expense
and business interruption endorsements. Such endorsement, or an independent instrument furnished to Lender, will provide that the insurance companies will give Lender at least thirty (30) days’ prior written notice before any such policy
or policies of insurance shall be altered or canceled and that no act or default of Borrower or any other Person shall affect the right of Lender to recover under such policy or policies of insurance in case of loss or damage. Each Credit Party
shall direct all present and future insurers under its “All Risk” policies of insurance to pay all proceeds payable thereunder directly to Lender. If any insurance proceeds are paid by check, draft or other instrument payable to any Credit
Party and Lender jointly, Lender may endorse such Credit Party’s name thereon and do such other things as Lender may deem advisable to reduce the same to cash. Lender reserves the right at any time, upon review of each Credit Party’s risk
profile, to require additional forms and limits of insurance. 
 3.17 Intentionally Omitted. 

3.18 Accounts and Inventory. Borrower has not made, and will not make, any agreement with any Account Debtor for any extension of time for the
payment of any Account, any compromise or settlement for less than the full amount thereof, any release of any Account Debtor from liability therefor, or any deduction therefrom except 

  
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in the ordinary course of its business consistent with historical practice. With respect to the Accounts pledged as collateral pursuant to any Loan Document (a) the amounts shown on all
invoices, statements and reports that may be delivered to the Lender with respect thereto are actually and absolutely owing to the relevant Credit Party as indicated thereon and are not in any way contingent; and (b) to Borrower’s
knowledge all Account Debtors have the capacity to contract. 
 3.19 Conduct of Business. Except as otherwise permitted by Sections
5(a) and 5(f) or as contemplated by the Purchase Agreement, each Credit Party (a) shall conduct its business substantially as now conducted or as otherwise permitted hereunder, and (b) shall at all times maintain, preserve and
protect all of the Collateral and such Credit Party’s other property, used or useful in the conduct of its business and keep the same in good repair, working order and condition and make, or cause to be made, all necessary or appropriate
repairs, replacements and improvements thereto consistent with industry practices. 
 3.20 Compliance with Laws. Except as set forth in
Disclosure Schedule (3.20): 
 (a) Each Credit Party is and will continue to be in compliance, in all material respects, with, and has
not violated in any material respect, any order, writ, injunction or Law of any Governmental Authority applicable to it or to its assets, properties, business or operations. The conduct by each Credit Party of its business is in compliance, in all
material respects, with, and has not violated in any material respect any Law. Except as set forth on Disclosure Schedule (3.20(a)) (collectively, the “Material Permits”), as of the Closing Date, no Permit, is material to or
necessary for the conduct of each Credit Party’s business. Each Credit Party has each Material Permit and all of such Material Permits are in full force and effect. No violations are recorded in respect of any Material Permit and no proceeding
is pending, or to the knowledge of the Credit Parties threatened, (i) to revoke or limit any Material Permit or (ii) alleging any failure to have all Material Permits required to operate the business of each of the Credit Parties. None of
the transactions contemplated by this Agreement will terminate, violate or limit the effectiveness of any Material Permit or cause any Material Permit to not be renewed; (b) No Credit Party is in receipt of, notice of, or subject to, or has any
knowledge concerning, any adverse inspection, finding of deficiency, finding of non-compliance, compelled or voluntary recall, investigation, penalty, fine, sanction, assessment, request for corrective or remedial action or other compliance or
enforcement action by the FDA, FTC or other Governmental Authority, in each case, relating to the Products or to the facilities in which the Products are designed, manufactured, merchandised, serviced, distributed, sold, delivered or handled;
(c) no Credit Party has made any false statement in, or omission from, the applications, approvals, reports or other submissions to the FDA, the FTC or other Governmental Authority or in or from any other records and documentation prepared or
maintained to comply with the requirements of the FDA, the FTC or other Governmental Authority relating to the Products; (d) to the Credit Parties’ knowledge, no Other Party has made any false statement in, or omission from, any report,
study, or other documentation prepared in conjunction with the applications, approvals, reports or records submitted to or prepared for the FDA, the FTC or other Governmental Authority relating to the Products; (e) no Credit Party, nor, to any
Credit Party’s knowledge, any Other Party has made or offered any payment, gratuity or other thing of value that is prohibited by any applicable law or regulation to any personnel of the FDA, the FTC or any other Governmental Authority (or any
Person directly or indirectly associated with or related to any such personnel) in connection with the approval or regulatory status of the Products or the facilities in which the Products are designed, manufactured, merchandised, serviced,
distributed, sold, delivered or handled; (f) each Credit Party, and to such Credit Party’s knowledge, each Other Party, are in compliance with all applicable regulations and requirements of the FDA, the FTC and other Governmental
Authorities relating to the Products, including, without limitation, any good manufacturing or handling practices, requirements for demonstrating and maintaining the safety and efficacy of the Products, export or import requirements, certificates of
export, requirements for investigating customer complaints and inquiries, labeling requirements and protocols (including, without limitation, requirements for substantiation of marketing, advertising or labeling claims, requirements which prohibit
“drug” claims or which require that the FDA receive notice of structure/function claims or pre-market notification of new dietary ingredients), labeling or registration requirements of any foreign jurisdiction into which the Products are
shipped or sold, shipping requirements, monitoring requirements, packaging or repackaging requirements, laboratory controls, sterility requirements, inventory controls and storage and warehousing

  
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procedures; (g) all Products comply in all material respects with current FDA and FTC requirements and the requirements of other Governmental Authorities and were handled by the Credit
Parties, and, to the Credit Parties’ knowledge, each Other Party, in conformity with current FDA requirements and the requirements of other Governmental Authorities; and (h) No Credit Party has received any notification, written or verbal
from the FDA, the FTC, FDA or FTC personnel or any other Governmental Authority indicating that any Product is unsafe or ineffective for its intended use, or which questioned or requested the support or substantiation for any such claims. Each
Credit Party has not, and to the Credit Parties’ knowledge no Other Party has, shipped or sold any Products into any jurisdictions without first having obtained all requisite approvals, registrations and permissions from the FDA, the FTC and
any other Governmental Authority. Each Credit Party has not, and to such Credit Party’s knowledge no Other Party has, made claims with respect to any Products which are “drug” claims or would cause such Products to be deemed
misbranded. There are no pending or outstanding: (1) warning letters or other regulatory letters or sanctions; (2) inspectional observations or establishment inspection reports; (3) field notifications or alerts; (4) import
alerts, holds or detentions received by the Credit Parties from the FDA or any Governmental Authority relating to the Products that assert ongoing material lack of compliance with any such laws by the Credit Parties or, to the Credit Parties’
knowledge, any Other Party. Each Credit Party has made available to Lender correct and complete copies, or summaries of, all: (1) adverse event reports; (2) material customer complaints; and (3) medical incident reports, in each case,
solely to the extent relating to any of the Products for the previous three (3) years, which are in the possession or control of such Credit Party. 
 3.21 Product Warranties: Returns. No Credit Party is aware of any basis for product warranty claims which would result in costs materially in excess of the reserve for product warranty claims set
forth on the face of the most recent annual consolidated balance sheet (rather than in any notes thereto) of Holdings and Borrower as adjusted for the passage of time through the Closing Date, or the date of a Revolving Credit Advance thereafter, as
applicable, in accordance with the past custom and practice of the Credit Parties. No product manufactured, sold or distributed by any Credit Party is subject to any guaranty, warranty, or other indemnity beyond the applicable standard terms and
conditions of sale and those imposed by applicable Law. No Credit Party has any material liability arising out of any injury to Persons or property as a result of the ownership, use or possession of any products manufactured, sold or distributed by
the Credit Parties. The products manufactured, sold or distributed by the Credit Parties have been, in all material respects, in conformity with all applicable contractual commitments and all express warranties and, to the knowledge of the Credit
Parties, all implied warranties. 
 3.22 Anti-Terrorism Laws. (a) Neither Borrower nor, to the knowledge of Borrower, any of its
Affiliates is in violation of any laws relating to terrorism or money laundering (“Anti-Terrorism Laws”), including Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 (the “Executive
Order”), and the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56, as amended and extended; (b) Neither Borrower nor, to the knowledge of
Borrower, any Affiliate or other agent of Borrower acting or benefiting in any capacity in connection with the Revolving Credit Loan is any of the following: (1) a person that is listed in the annex to, or is otherwise subject to the provisions
of, the Executive Order; (2) a person owned or controlled by, or acting for or on behalf of, any person that is listed in the annex to, or is otherwise subject to the provisions of, the Executive Order; (3) a person with which Lender is
prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law; (4) a person that commits, threatens or conspires to commit or supports “terrorism” as defined in the Executive Order; or (5) a person
that is named as a “specially designated national and blocked person” on the most current list published by the U.S. Treasury Department Office of Foreign Assets Control (“OFAC”) at its official website or any replacement website
or other replacement official publication of such list; and (c) neither Borrower nor, to the knowledge of Borrower, any agent of any Affiliate acting in any capacity in connection with the Revolving Credit Loan: (1) conducts any business
or engages in making or receiving any contribution of funds, goods or services to or for the benefit of any person described in clause (b) above, (2) deals in, or otherwise engages in any transaction relating to, any property or interests
in property blocked pursuant to the Executive Order, or (3) engages in or conspires to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any
Anti-Terrorism Law. 

  
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 3.23 Further Assurances. At any time and from time to time, upon the written request of Lender and at
the sole expense of Borrower, Borrower and each other Credit Party shall promptly and duly execute and deliver any and all such further instruments and documents and take such further action as Lender may reasonably deem desirable (a) to obtain the
full benefits of this Agreement and the other Loan Documents, (b) to protect, preserve and maintain Lender’s rights in any Collateral, subject to Section 6.1 (b), or (c) to enable Lender to exercise all or any of the
rights and powers herein granted. 
  

	4.	FINANCIAL MATTERS; REPORTS 

 4.1 Reports and
Notices. From the Closing Date until the Termination Date, Borrower shall deliver to Lender: 
 (a) within thirty
(30) days following the end of each Fiscal Month, the Financial Statements for such Fiscal Month, which shall provide (i) comparisons to budget and actual results for (A) the current month and (B) year to date and
(ii) comparisons of the current month to the prior month and (iii) comparisons of the current year to date to the same period for the prior year to date, and accompanied by a certification in the form of Exhibit F by the Chief
Executive Officer or Chief Financial Officer of Borrower that such Financial Statements are complete and correct in all material respects, that there was no Default (or specifying those Defaults of which he or she was aware), and showing in
reasonable detail the calculations used in determining compliance with the financial covenants hereunder; 
 (b) within ninety
(90) days following the close of each Fiscal Year, the Financial Statements for such Fiscal Year certified without qualification by an independent certified accounting firm reasonably acceptable to Lender, which shall provide comparisons to the
prior Fiscal Year, and shall be accompanied by (i) a statement in reasonable detail showing the calculations used in determining compliance with the financial covenants hereunder, (ii) a report from Borrower’s accountants to the
effect that in connection with their audit examination nothing has come to their attention to cause them to believe that an Event of Default has occurred or specifying those Events of Default of which they are aware, and (iii) any management
letter that may be issued; 
 (c) not less than thirty (30) days subsequent to the beginning of each Fiscal Year, the
Projections, which will be prepared by Borrower in good faith, based on assumptions that are reasonable at the time such Projections are prepared; 
 (d) after the last day of each calendar month following the Closing Date, if Borrower is not required to make a mandatory prepayment of the Revolving Credit Loans pursuant to Section 1.6, then
an authorized officer of the Borrower shall deliver a confirmation to Lender stating that Borrower does not have on deposit cash and Cash Equivalents in excess of the Cash Amount as of the last day of the immediately preceding calendar month; and

 (f) all the reports and other information set forth in Exhibit B in the time frames set forth therein. 

4.2 Financial Covenants. Borrower shall not breach any of the financial covenants set forth in Schedule D. For purposes of
Section 7.1, a breach of a financial covenant set forth in Schedule D shall be deemed to have occurred as of the last day of any specified measurement period, regardless of when the Financial Statements reflecting such breach are
delivered to Lender. 
 4.3 Other Reports and Information. Borrower shall advise Lender promptly, in reasonable detail, of: (a) any
Lien, other than Permitted Encumbrances, attaching to or asserted against any of the Collateral or any occurrence causing a material loss or decline in value of any Collateral and the estimated (or actual, if available) amount of such loss or
decline; (b) any material change in the composition of the Collateral; and (c) the occurrence of any Default or other event that has had or could reasonably be expected to have a Material Adverse Effect. Borrower shall, upon request of
Lender, furnish to Lender such other reports and information in connection with the affairs, business, financial condition, operations, prospects or management of any Credit Party or the Collateral as Lender may request, all in reasonable detail.

  
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	5.	NEGATIVE COVENANTS 

 Each Credit Party executing
this Agreement covenants and agrees (for itself and each other Credit Party) that, without Lender’s prior written consent, from the Closing Date until the Termination Date, no such Credit Party shall, directly or indirectly, by operation of law
or otherwise: 
 (a) except as otherwise contemplated by the Purchase Agreement, form any Subsidiary or merge with, consolidate
with, acquire all or substantially all of the assets or Stock of, or otherwise combine with or make any investment in (other than any investment by a Credit Party in another Credit Party or in PathConnect or investment in Cash Equivalents) or,
except as provided in clause 5(c) below, loan or advance to, any Person; 
 (b) cancel any debt owing to it, other than in the
ordinary course of business and consistent with past practice, or create, incur, assume or permit to exist any Indebtedness, except: (i) the Obligations, (ii) Indebtedness existing as of the Closing Date set forth in Disclosure Schedule
5(b), (iii) deferred taxes, (iv) by endorsement of Instruments or items of payment for deposit to the general account of such Credit Party, (v) for Guaranteed Indebtedness incurred for the benefit of Borrower if the primary
obligation is permitted by this Agreement, (vi) additional Indebtedness (including Purchase Money Indebtedness) incurred after the Closing Date in an aggregate outstanding amount for all such Credit Parties combined not exceeding $100,000,
(vii) Indebtedness of a Credit Party owing to another Credit Party, (viii) Indebtedness incurred in the ordinary course of business and consistent with past practice, under any credit card (including American Express) not to exceed
$450,000 at any time outstanding and (ix) Indebtedness incurred in the ordinary course of business and consistent with past practice, in connection with any agreement between any Credit Party and any of its suppliers and distributors not to
exceed $150,000 at any time outstanding; 
 (c) except as otherwise contemplated by the Purchase Agreement, enter into any
lending, borrowing or other commercial transaction with any of its employees, directors, Affiliates or any other Credit Party on terms less advantageous to such Credit Party than could be obtained on an arm’s length basis other than
(i) loans or advances to employees in the ordinary course of business in an aggregate outstanding amount not exceeding $100,000 and (ii) intercompany advances or loans between Credit Parties and between a Credit Party and PathConnect;

 (d) (i) make any changes in any of its business objectives, purposes, or operations that could reasonably be expected to
adversely affect repayment of the Obligations or could reasonably be expected to have a Material Adverse Effect or (ii) except as otherwise contemplated by the Purchase Agreement, engage in any business other than that presently engaged in or
proposed to be engaged in the Projections delivered to Lender on the Closing Date other than reasonable extensions of such lines of business or (iii) amend its charter or by-laws or other organizational documents in a manner adverse to Lender;

 (e) create or permit any Lien on any of its properties or assets, except for Permitted Encumbrances; 

(f) except as otherwise contemplated by the Purchase Agreement, sell, transfer, issue, convey, assign or otherwise dispose of any of its
assets or properties, including its Accounts or any shares of its Stock or engage in any sale-leaseback, synthetic lease or similar transaction (provided, that the foregoing shall not prohibit the sale of Inventory or obsolete or unnecessary
Equipment in the ordinary course of its business); 
 (g) (i) change its name, chief executive office, corporate offices,
warehouses or other Collateral locations, or location of its records concerning the Collateral, (ii) the type of legal entity that it is, (iii) its organization identification number, if any, issued by its state of incorporation or
organization, or (iv) its state of incorporation or organization, or acquire, lease or use any real estate after the Closing Date (except as contemplated by Section 7.19(a) of the Purchase Agreement) without such Person, in each
instance, giving thirty (30) days prior written notice thereof to Lender and taking all actions deemed necessary or appropriate by Lender to continuously protect and perfect Lender’s Liens upon the Collateral; 

  
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 (j) make or permit any Restricted Payment other than (i) distributions by Borrower to
Holdings to permit Holdings to pay franchise taxes; (ii) other distributions by Borrower to Holdings or by Holdings to its members contemplated by the Purchase Agreement, and other payments in connection with the maintenance of its existence or
other legal, tax or accounting matters and to enable Holdings or its members to pay their taxes and (iii) Restricted Payments by a Subsidiary of the Borrower to the Borrower. 

(k) from and after the Closing Date, Holdings shall engage in no business and have no assets other than (i) owning the Stock of, and
to the extent otherwise permitted hereunder, other investments in and transactions with, the Borrower and PathConnect; (ii) the ownership of intellectual property used in the business of Holdings and its Subsidiaries; and (iii) the
entering into, and the performance of its obligations under this Agreement, the Purchase Agreement and the other Loan Documents to which it is a party, and in each case, activities incidental thereto. Notwithstanding the foregoing, Holdings may
engage in activities incidental to (i) the maintenance of its limited liability company existence in compliance with applicable law, and (ii) legal, tax and accounting matters in connection with any of the foregoing activities. 

 

	6.	SECURITY INTEREST 

 6.1 Grant of Security
Interest. (a) As collateral security for the prompt and complete payment and performance of the Obligations, each of the Borrower and any other Credit Party executing this Agreement hereby grants to the Lender a security interest in and
Lien upon all of its property and assets, whether real or personal, tangible or intangible, and whether now owned or hereafter acquired, or in which it now has or at any time in the future may acquire any right, title, or interest, including all of
the following property in which it now has or at any time in the future may acquire any right, title or interest: all Accounts; all Deposit Accounts, all other bank accounts and all funds on deposit therein; all money, cash and Cash Equivalents; all
Investment Property; all Stock; all Goods (including Inventory, Equipment and Fixtures); all Chattel Paper, Documents and Instruments; all Books and Records; all General Intangibles; (including all Intellectual Property, contract rights, choses in
action, Payment Intangibles and Software); all Letter-of-Credit Rights; all Supporting Obligations; and to the extent not otherwise included, all Proceeds, tort claims, insurance claims and other rights to payment not otherwise included in the
foregoing and products of all and any of the foregoing and all accessions to, substitutions and replacements for, and rents and profits of, each of the foregoing, but excluding in all events (i) Hazardous Waste and (ii) any equity
interests of a Foreign Entity to the extent the Collateral (as hereafter defined) would include more than 65% of the equity interests of such Foreign Entity entitled to vote (all of the foregoing, together with any other collateral pledged to the
Lender pursuant to any other Loan Document, collectively, the “Collateral”). 
 (b) Borrower, Lender and each other
Credit Party executing this Agreement agree that this Agreement creates, and is intended to create, valid and continuing Liens upon the Collateral in favor of Lender. Borrower and each other Credit Party executing this Agreement represents, warrants
and promises to Lender that: (i) Borrower and each other Credit Party granting a Lien in Collateral has rights in and the power to transfer each item of the Collateral upon which it purports to grant a Lien pursuant to the Loan Documents, free
and clear of any and all Liens or claims of others, other than Permitted Encumbrances; (ii) the security interests granted pursuant to this Agreement, upon completion of the filings and other actions listed on Disclosure Schedule
(6.1) (which, in the case of all filings and other documents referred to in said Schedule, have been delivered to the Lender in duly executed form) will constitute valid perfected security interests in all of the Collateral (except the
Deposit Accounts and other bank accounts) in favor of the Lender as security for the prompt and complete payment and performance of the Obligations, enforceable in accordance with the terms hereof against any and all creditors of and purchasers from
any Credit Party (other than purchasers of Inventory in the ordinary course of business) and such security interests are prior to all other Liens on the Collateral in existence on the date hereof except for Permitted Encumbrances that have priority
by operation of law; and (iii) no effective security agreement, mortgage, deed of trust, financing statement, equivalent security or Lien instrument or continuation statement covering all or any part of the Collateral is or will be on file or
of record in any public office, except those relating to Permitted Encumbrances. Borrower and each other Credit Party executing this Agreement promise to defend the right, title 

  
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and interest of Lender in and to the Collateral against the claims and demands of all Persons whomsoever, and each shall take such actions, including (w) all actions necessary to grant
Lender “control” of any Investment Property, Letter-of-Credit Rights or electronic Chattel Paper owned by such Credit Party, with any agreements establishing control to be in form and substance satisfactory to Lender, (x) the prompt
delivery of all original Instruments, Chattel Paper and certificated Stock owned by Borrower and each other Credit Party granting a Lien on Collateral to Lender, (y) notification of Lender’s interest in Collateral at Lender’s request,
and (z) the institution of litigation against third parties as shall be prudent in order to protect and preserve each Credit Party’s and Lender’s respective and several interests in the Collateral. Borrower (and any other Credit Party
granting a Lien in Collateral) shall mark its Books and Records pertaining to the Collateral to evidence the Loan Documents and the Liens granted under the Loan Documents. If any Credit Party retains possession of any Chattel Paper or Instrument
with Lender’s consent, such Chattel Paper and Instruments shall be marked with the following legend: “This writing and the obligations evidenced or secured hereby are subject to the security interest of Blyth VSH Acquisition
Corporation” Each Credit Party executing this Agreement shall promptly, and in any event within two (2) Business Days after the same is acquired by it, notify Lender of any commercial tort claim (as defined in the Code) acquired by it and
unless otherwise consented by Lender, such Credit Party shall enter into a supplement to this Loan Agreement granting to Lender a Lien in such commercial tort claim. Notwithstanding anything to the contrary contained herein, Lender acknowledges and
agrees that (i) the Credit Parties shall have no obligation to enter into control agreements or other cash management documentation with respect to Deposit Accounts and other bank accounts and (ii) no actions shall be required in respect
of the Collateral under the laws of any foreign jurisdiction. 
 6.2 Lender’s Rights. (a) Lender may, (i) at any time
during the continuance of an Event of Default in Lender’s own name or in the name of Borrower, communicate with Account Debtors, parties to Contracts, and obligors in respect of Instruments, Chattel Paper or other Collateral to verify to
Lender’s satisfaction, the existence, amount and terms of, and any other matter relating to, Accounts, Payment Intangibles, Instruments, Chattel Paper or other Collateral, and (ii) at any time after an Event of Default has occurred and is
continuing and without prior notice to any Credit Party, notify Account Debtors and other Persons obligated on any Collateral that Lender has a security interest therein and that payments shall be made directly to Lender. Upon the request of Lender,
Borrower shall so notify such Account Debtors, parties to Contracts, and obligors in respect of Instruments, Chattel Paper or other Collateral. Borrower hereby constitutes Lender or Lender’s designee as Borrower’s attorney with power to
endorse Borrower’s name upon any notes, acceptance drafts, money orders or other evidences of payment or Collateral. 
 (b)
Borrower shall remain liable under each Contract, Instrument and License to observe and perform all the conditions and obligations to be observed and performed by it thereunder, and Lender shall have no obligation or liability whatsoever to any
Person under any Contract, Instrument or License (between any Credit Party and any Person other than Lender) by reason of or arising out of the execution, delivery or performance of this Agreement, and Lender shall not be required or obligated in
any manner (i) to perform or fulfill any of the obligations of Borrower, (ii) to make any payment or inquiry, or (iii) to take any action of any kind to collect, compromise or enforce any performance or the payment of any amounts
which may have been assigned to it or to which it may be entitled at any time or times under or pursuant to any Contract, Instrument or License. 
 (c) Borrower and each other Credit Party shall, with respect to each owned, leased, or controlled property, during normal business hours and upon reasonable advance notice (unless an Event of Default
shall have occurred and be continuing, in which event no notice shall be required and Lender shall have access at any and all times): (i) provide access to such property to Lender and any of its officers, employees and agents, as frequently as
Lender determines to be appropriate; (ii) permit Lender and any of its officers, employees and agents to inspect, audit and make extracts and copies (or take originals if reasonably necessary) from all of Borrower’s and such Credit
Party’s Books and Records; and (iii) permit Lender to inspect, review, evaluate and make physical verifications and appraisals of the Inventory and other Collateral in any manner and through any medium that Lender considers advisable, and
Borrower and such Credit Party agree to render to Lender, at Borrower’s and such Credit Party’s cost and expense, such clerical and other assistance as may be reasonably requested with regard thereto. 

  
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 (d) After the occurrence and during the continuance of an Event of Default, Borrower, at its
own expense, shall cause the certified public accountant then engaged by Borrower to prepare and deliver to Lender at any time and from time to time, promptly upon Lender’s request, the following reports: (i) a reconciliation of all
Accounts; (ii) an aging of all Accounts; (iii) trial balances; and (iv) test verifications of such Accounts as Lender may request. Borrower, at its own expense, shall cause its certified independent public accountants to deliver to Lender
the results of any physical verifications of all or any portion of the Inventory made or observed by such accountants when and if such verification is conducted. Lender shall be permitted to observe and consult with Borrower’s accountants in
the performance of these tasks. 
 6.3 Lender’s Appointment as Attorney-in-fact. On the Closing Date, Borrower and each other Credit
Party executing this Agreement shall execute and deliver a Power of Attorney in the form attached as Exhibit E. The power of attorney granted pursuant to the Power of Attorney and all powers granted under any Loan Document are powers coupled
with an interest and shall be irrevocable until the Termination Date. The powers conferred on Lender under the Power of Attorney are solely to protect Lender’s interests in the Collateral and shall not impose any duty upon it to exercise any
such powers. Lender agrees not to exercise any power or authority granted under the Power of Attorney unless an Event of Default has occurred and is continuing. Borrower and each other Credit Party executing this Agreement also hereby
(i) authorizes Lender to file any financing statements, continuation statements or amendments thereto that (x) indicate the Collateral (1) as all assets of such Credit Party (or any portion of such Credit Party’s assets) or words
of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the Code of such jurisdiction, or (2) as being of an equal or lesser scope or with greater detail, and
(y) contain any other information required by Part 5 of Article 9 of the Code for the sufficiency or filing office acceptance of any financing statement, continuation statement or amendment and (ii) ratifies its authorization for Lender to
have filed any initial financial statements, or amendments thereto if filed prior to the date hereof. Borrower and each other Credit Party executing this Agreement acknowledges that it is not authorized to file any financing statement or amendment
or termination statement with respect to any financing statement without the prior written consent of Lender and agrees that it will not do so without the prior written consent of Lender, subject to such Credit Party’s rights under
Section 9-509(d)(2) of the Code. 
 6.4 Grant of License to Use Intellectual Property Collateral. Borrower and each other Credit
Party executing this Agreement hereby grants to Lender an irrevocable, non-exclusive license (exercisable upon the occurrence and during the continuance of an Event of Default without payment of royalty or other compensation to Borrower or such
Credit Party) to use, transfer, license or sublicense any Intellectual Property now owned, licensed to, or hereafter acquired by Borrower or such Credit Party, and wherever the same may be located, and including in such license access to all media
in which any of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout thereof, and represents, promises and agrees that any such license or sublicense is not and will not be in
conflict with the contractual or commercial rights of any third Person; provided, that such license will terminate on the Termination Date. 
  

	7.	EVENTS OF DEFAULT: RIGHTS AND REMEDIES 

 7.1
Events of Default. The occurrence of any one or more of the following events (regardless of the reason therefor) shall constitute an “Event of Default” hereunder which shall be deemed to be continuing until waived in writing by
Lender in accordance with Section 9.3: 
 (a) Borrower shall fail to make any payment in respect of any Obligations when
due and payable or declared due and payable; or 
 (b) any Credit Party (i) shall fail or neglect to perform, keep or
observe any of the covenants, promises, agreements, requirements, conditions or other terms or provisions contained in Article 5 this Agreement or Schedule D hereto or (ii) shall fail or neglect to perform, keep or observe any other covenants,
promises, agreements, requirements, conditions or other terms or provisions contained in this Agreement or any of the other Loan Documents and, in the case of this clause (ii), such failure continues unremedied for a period of thirty (30) days
therefrom; or 

  
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 (c) an event of default shall occur under any Contractual Obligation of any Credit Party
(other than this Agreement and the other Loan Documents), and such event of default (i) involves the failure to make any payment (whether or not such payment is blocked pursuant to the terms of an intercreditor agreement or otherwise), whether
of principal, interest or otherwise, and whether due by scheduled maturity, required prepayment, acceleration, demand or otherwise, in respect of any Indebtedness (other than the Obligations) of such Person in an aggregate amount exceeding the
Minimum Actionable Amount, or (ii) causes (or permits any holder of such Indebtedness or a trustee to cause) such Indebtedness, or a portion thereof, in an aggregate amount exceeding the Minimum Actionable Amount to become due prior to its
stated maturity or prior to its regularly scheduled date of payment; or 
 (d) any representation or warranty in this Agreement
or any other Loan Document, or in any written statement pursuant hereto or thereto, or in any report, financial statement or certificate made or delivered to Lender by any Credit Party shall be untrue or incorrect in any material respect as of the
date when made or deemed made, except (i) to the extent that any such representation or warranty is expressly stated to relate to a specific earlier date, in which case, such representation and warranty shall be true and correct in all material
respects as of such earlier date and (ii) to the extent that any such representation or warranty (including the representations and warranties referred to in clause (i)) is qualified by materiality, such representation and warranty shall be
true and correct in all respects; or 
 (e) there shall be commenced against any Credit Party any Litigation seeking issuance of
a warrant of attachment, execution, distraint or similar process against all or any substantial part of its assets that results in the entry of an order for any such relief that remains unstayed or undismissed for forty five (45) consecutive
days; or any Credit Party shall have concealed, removed or permitted to be concealed or removed, any part of its property with intent to hinder, delay or defraud any of its creditors or made or suffered a transfer of any of its property or the
incurring of an obligation that may be fraudulent under any bankruptcy, fraudulent transfer or other similar law; or 
 (f) a
case or proceeding shall have been commenced involuntarily against any Credit Party in a court having competent jurisdiction seeking a decree or order: (i) under the United States Bankruptcy Code or any other applicable Federal, state or
foreign bankruptcy or other similar law, and seeking either (x) the appointment of a custodian, receiver, liquidator, assignee, trustee or sequestrator (or similar official) for such Person or of any substantial part of its properties, or
(y) the reorganization or winding up or liquidation of the affairs of any such Person, and such case or proceeding shall remain undismissed or unstayed for sixty (60) consecutive days or such court shall enter a decree or order granting
the relief sought in such case or proceeding; or (ii) invalidating or denying any Person’s right, power, or competence to enter into or perform any of its obligations under any Loan Document or invalidating or denying the validity or
enforceability of this Agreement or any other Loan Document or any action taken hereunder or thereunder; or 
 (g) any Credit
Party shall (i) commence any case, proceeding or other action under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization, conservatorship or relief of debtors, seeking to have
an order for relief entered with respect to it or seeking appointment of a custodian, receiver, liquidator, assignee, trustee or sequestrator (or similar official) for it or any substantial part of its properties, (ii) make a general assignment
for the benefit of creditors, (iii) consent to or take any action in furtherance of, or, indicating its consent to, approval of, or acquiescence in, any of the acts set forth in paragraphs (e) or (f) of this Section 7.1 or
clauses (i) and (ii) of this paragraph (g), or (iv) shall admit in writing its inability to, or shall be generally unable to, pay its debts as such debts become due; or 

(h) a final judgment or judgments for the payment of money in excess of the Minimum Actionable Amount in the aggregate shall be rendered
against any Credit Party, unless the same shall be (i) fully covered by insurance and the issuer(s) of the applicable policies shall have acknowledged full coverage in writing within forty five (45) days of judgment, or (ii) vacated,
stayed, bonded, paid or discharged within a period of forty five (45) days from the date of such judgment; or 
 (i) any
material provision of any Loan Document shall for any reason cease to be valid, binding and enforceable in accordance with its terms, or any Lien granted, or intended by the Loan Documents to be granted, to Lender shall cease to be a valid and
perfected Lien having the first priority (or a lesser priority if expressly permitted in the Loan Documents) in any of the Collateral (or any Credit Party shall so assert any of the foregoing); or 

  
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 (k) a Change of Control shall have occurred with respect to any Credit Party; or 

(1) an ERISA Event shall have occurred that, in the opinion of the Lender, when taken together with all other ERISA Events that have
occurred and are then continuing, could reasonably be expected to result in liability of any Credit Party in an aggregate amount exceeding the Minimum Actionable Amount. 
 7.2 Remedies. (a) If any Default shall have occurred and be continuing, then Lender may terminate or suspend its obligation to make further Revolving Credit Advances. In addition, if any Event
of Default shall have occurred and be continuing, Lender may, without notice, take any one or more of the following actions: (i) declare all or any portion of the Obligations to be forthwith due and payable, whereupon such Obligations shall
become and be due and payable; or (ii) exercise any rights and remedies provided to Lender under the Loan Documents or at law or equity, including all remedies provided under the Code; provided, that upon the occurrence of any Event of Default
specified in Sections 7.1 (e), (f) or (g), the Obligations shall become immediately due and payable (and any obligation of Lender to make further Loans, if not previously terminated, shall immediately be terminated) without declaration, notice
or demand by Lender. 
 (b) Without limiting the generality of the foregoing, Borrower and each other Credit Party executing
this Agreement expressly agrees that upon the occurrence of any Event of Default, Lender may collect, receive, assemble, process, appropriate and realize upon the Collateral, or any part thereof, and may forthwith sell, lease, assign, give an option
or options to purchase or otherwise dispose of and deliver said Collateral (or contract to do so), or any part thereof, in one or more parcels at public or private sale or sales, at any exchange at such prices as it may deem best, for cash or on
credit or for future delivery without assumption of any credit risk. Lender shall have the right upon any such public sale, to the extent permitted by law, to purchase for the benefit of Lender the whole or any part of said Collateral so sold, free
of any right of equity of redemption, which equity of redemption Borrower and each other Credit Party executing this Agreement hereby releases. Such sales may be adjourned, or continued from time to time with or without notice. Lender shall have the
right to conduct such sales on any Credit Party’s premises or elsewhere and shall have the right to use any Credit Party’s premises without rent or other charge for such sales or other action with respect to the Collateral for such time as
Lender deems necessary or advisable. 
 (c) Upon the occurrence and during the continuance of an Event of Default and at
Lender’s request, Borrower and each other Credit Party executing this Agreement agrees to assemble the Collateral and make it available to Lender at places that Lender shall reasonably select, whether at its premises or elsewhere, Until Lender
is able to effect a sale, lease, or other disposition of the Collateral, Lender shall have the right to complete, assemble, use or operate the Collateral or any part thereof, to the extent that Lender deems appropriate, for the purpose of preserving
such Collateral or its value or for any other purpose. Lender shall have no obligation to any Credit Party to maintain or preserve the rights of any Credit Party as against third parties with respect to any Collateral while such Collateral is in the
possession of Lender. Lender may, if it so elects, seek the appointment of a receiver or keeper to take possession of any Collateral and to enforce any of Lender’s remedies with respect thereto without prior notice or hearing. To the maximum
extent permitted by applicable law, Borrower and each other Credit Party executing this Agreement waives all claims, damages, and demands against Lender, its Affiliates, agents, and the officers and employees of any of them arising out of the
repossession, retention or sale of any Collateral except such as are determined in a final judgment by a court of competent jurisdiction to have arisen solely out of the gross negligence or willful misconduct of such Person. Borrower and each other
Credit Party executing this Agreement agrees that ten (10) days’ prior notice by Lender to such Credit Party of the time and place of any public sale or of the time after which a private sale may take place is reasonable notification of
such matters. Borrower and each other Credit Party shall remain liable for any deficiency if the proceeds of any sale or disposition of the Collateral are insufficient to pay all amounts to which Lender is entitled. 

(d) Lender’s rights and remedies under this Agreement shall be cumulative and nonexclusive of any other rights and remedies that
Lender may have under any Loan Document or at law or in equity. Recourse to the 

  
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Collateral shall not be required. All provisions of this Agreement are intended to be subject to all applicable mandatory provisions of law that may be controlling and to be limited, to the
extent necessary, so that they do not render this Agreement invalid or unenforceable, in whole or in part. 
 7.3 Waivers by Credit
Parties. Except as otherwise provided for in this Agreement and to the fullest extent permitted by applicable law, Borrower and each other Credit Party executing this Agreement waives: (a) presentment, demand and protest, and notice of
presentment, dishonor, intent to accelerate, acceleration, protest, default, nonpayment, maturity, release, compromise, settlement, extension or renewal of any or all Loan Documents, the Notes or any other notes, commercial paper, Accounts,
Contracts, Documents, Instruments, Chattel Paper and guaranties at any time held by Lender on which such Credit Party may in any way be liable, and hereby ratifies and confirms whatever Lender may do in this regard; (b) all rights to notice and
a hearing prior to Lender’s taking possession or control of, or to Lender’s replevy, attachment or levy upon, any Collateral or any bond or security that might be required by any court prior to allowing Lender to exercise any of its
remedies; and (c) the benefit of all valuation, appraisal and exemption laws. Borrower and each other Credit Party executing this Agreement acknowledges that it has been advised by counsel of its choices and decisions with respect to this
Agreement, the other Loan Documents and the transactions evidenced hereby and thereby. 
 7.4 Proceeds. The Proceeds of any sale,
disposition or other realization upon any Collateral shall be applied by Lender upon receipt to the Obligations in such order as Lender may deem advisable in its sole discretion and after the indefeasible payment and satisfaction in full in cash of
all of the Obligations, and after the payment by Lender of any other amount required by any provision of law, including Sections 9-608(a)(l) and 9-615(a)(3) of the Code (but only after Lender has received what Lender considers reasonable proof of a
subordinate party’s security interest), the surplus, if any, shall be paid to Borrower or its representatives or to whomsoever may be lawfully entitled to receive the same, or as a court of competent jurisdiction may direct. 

 

	8.	SUCCESSORS AND ASSIGNS 

 Each Loan Document shall
be binding on and shall inure to the benefit of Borrower and each other Credit Party executing such Loan Document, Lender, and their respective successors and assigns, except as otherwise provided herein or therein. Neither Borrower nor any other
Credit Party may assign, transfer, hypothecate, delegate or otherwise convey its rights, benefits, obligations or duties under any Loan Document without the prior express written consent of Lender. Any such purported conveyance by Borrower or such
Credit Party without the prior express written consent of Lender shall be void. There shall be no third party beneficiaries of any of the terms and provisions of any of the Loan Documents. Lender reserves the right at any time to create and sell
participations in the Loans and the Loan Documents and to sell, transfer or assign any or ail of its rights in the Loans and under the Loan Documents. 
  

	9.	MISCELLANEOUS 

 9.1 Complete Agreement;
Modification of Agreement. This Agreement and the other Loan Documents constitute the complete agreement between the parties with respect to the subject matter hereof and thereof, supersede all prior agreements, commitments, understandings or
inducements (oral or written, expressed or implied). No Loan Document may be modified, altered or amended except by a written agreement signed by Lender, and each other Credit Party a party to such Loan Document. Borrower and each other Credit Party
executing this Agreement or any other Loan Document shall have all duties and obligations under this Agreement and such other Loan Documents from the date of its execution and delivery, regardless of whether the initial Revolving Credit Loan has
been funded at that time. 
 9.2 Expenses. Each party agrees to pay its own costs and expenses (including the fees and expenses of all
counsel, advisors, consultants (including environmental and management consultants) and auditors retained in connection therewith) incurred in connection with the preparation, negotiation, execution, delivery, performance and enforcement of the Loan
Documents and the preservation of any rights thereunder. Notwithstanding the foregoing, 

  
 21 

 
Borrower agrees to pay or reimburse Lender for all costs and expenses incurred in connection with (i) collection, including deficiency collections; (ii) any amendment, waiver or other
modification with respect to any Loan Document or advice in connection with the administration of the Revolving Credit Loans or the rights thereunder; (iii) any litigation, dispute, suit, proceeding or action (whether instituted by or between any
combination of Lender, Borrower or any other Person), and an appeal or review thereof, in any way relating to the Collateral, any Loan Document, or any action taken or any other agreements to be executed or delivered in connection therewith, whether
as a party, witness or otherwise; and (iv) any effort (A) to monitor the Revolving Credit Loans, (B) to evaluate, observe or assess any Credit Party or the affairs of such Person, and (C) to verify, protect, evaluate, assess,
appraise, collect, sell, liquidate or otherwise dispose of the Collateral. 
 9.3 No Waiver. Neither Lender’s failure, at any time,
to require strict performance by any Credit Party of any provision of any Loan Document, nor Lender’s failure to exercise, nor any delay in exercising, any right, power or privilege hereunder, shall operate as a waiver thereof or waive, affect
or diminish any right of Lender thereafter to demand strict compliance and performance therewith. No single or partial exercise of any right, power or privilege hereunder shall preclude any other or future exercise thereof or the exercise of any
other right, power or privilege. Any suspension or waiver of a Default or other provision under the Loan Documents shall not suspend, waive or affect any other Default or other provision under any Loan Document, and shall not be construed as a bar
to any right or remedy that Lender would otherwise have had on any future occasion. None of the undertakings, indemnities, agreements, warranties, covenants and representations of any Credit Party to Lender contained in any Loan Document and no
Default by any Credit Party under any Loan Document shall be deemed to have been suspended or waived by Lender, unless such waiver or suspension is by an instrument in writing signed by an officer or other authorized employee of Lender and directed
to Borrower specifying such suspension or waiver (and then such waiver shall be effective only to the extent therein expressly set forth), and Lender shall not, by any act (other than execution of a formal written waiver), delay, omission or
otherwise, be deemed to have waived any of its rights or remedies hereunder. 
 9.4 Severability; Section Titles. Wherever possible, each
provision of the Loan Documents shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of any Loan Document shall be prohibited by or invalid under applicable law, such provision shall be
ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of such Loan Document. Except as otherwise expressly provided for in the Loan Documents, no termination or
cancellation (regardless of cause or procedure) of any financing arrangement under the Loan Documents shall in any way affect or impair the Obligations, duties, covenants, representations and warranties, indemnities, and liabilities of any Credit
Party or the rights of Lender relating to any unpaid Obligation, (due or not due, liquidated, contingent or unliquidated), or any transaction or event occurring prior to such termination, or any transaction or event, the performance of which is not
required until after the Commitment Termination Date, all of which shall not terminate or expire, but rather shall survive such termination or cancellation and shall continue in full force and effect until the Termination Date; provided, that all
indemnity obligations of the Credit Parties under the Loan Documents shall survive the Termination Date. The Section titles contained in any Loan Document are and shall be without substantive meaning or content of any kind whatsoever and are not a
part of the agreement between the parties hereto. 
 9.5 Authorized Signature. Until Lender shall be notified in writing by any Credit
Party to the contrary, the signature upon any document or instrument delivered pursuant hereto and believed by Lender or any of Lender’s officers, agents, or employees to be that of an officer of Borrower or such other Credit Party shall bind
Borrower and such other Credit Party and be deemed to be the act of Borrower or such other Credit Party affixed pursuant to and in accordance with resolutions duly adopted by Borrower’s or such other Credit Party’s Board of Directors, and
Lender shall be entitled to assume the authority of each signature and authority of the person whose signature it is or appears to be unless the person acting in reliance thereon shall have actual knowledge to the contrary. 

9.6 Notices. Except as otherwise provided herein, whenever any notice, demand, request or other communication shall or may be given to or served
upon any party by any other party, or whenever any party desires to give or serve 

  
 22 

 
upon any other party any communication with respect to this Agreement, each such communication shall be in writing and shall be deemed to have been validly served, given or delivered
(a) upon the earlier of actual receipt and three (3) days after deposit in the United States Mail, registered or certified mail, return receipt requested, with proper postage prepaid, (b) upon transmission, when sent by telecopy or
other similar facsimile transmission (with such telecopy or facsimile promptly confirmed by delivery of a copy by personal delivery or United States Mail as otherwise provided in this Section 9.6), (c) one (1) Business Day after
deposit with a reputable overnight courier with all charges prepaid or (d) when hand-delivered, all of which shall be addressed to the party to be notified and sent to the address or facsimile number indicated in Schedule B or to such
other address (or facsimile number) as may be substituted by notice given as herein provided. Failure or delay in delivering copies of any such communication to any Person (other than Borrower or Lender) designated in Schedule B to receive
copies shall in no way adversely affect the effectiveness of such communication. 
 9.7 Counterparts. Any Loan Document may be
authenticated in any number of separate counterparts by any one or more of the parties thereto, and all of said counterparts taken together shall constitute one and the same instrument. Any Loan Document may be authenticated by manual signature,
facsimile or, if approved in writing by Lender, electronic means, all of which shall be equally valid. 
 9.8 Time of the Essence. Time
is of the essence for performance of the Obligations under the Loan Documents. 
 9.9 GOVERNING LAW. THE LOAN DOCUMENTS AND THE
OBLIGATIONS ARISING UNDER THE LOAN DOCUMENTS SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE, WITHOUT REGARD TO THE PRINCIPLES THEREOF
REGARDING CONFLICTS OF LAWS. 
 9.10 SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL. (A) BORROWER AND EACH OTHER CREDIT PARTY
EXECUTING THIS AGREEMENT HEREBY CONSENT AND AGREE THAT THE STATE OR FEDERAL COURTS LOCATED IN NEW YORK SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN BORROWER AND SUCH CREDIT PARTY AND LENDER PERTAINING TO
THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS OR TO ANY MATTER ARISING OUT OF OR RELATED TO THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS; PROVIDED, THAT LENDER, BORROWER AND SUCH CREDIT PARTY ACKNOWLEDGE THAT ANY APPEALS FROM THOSE COURTS
MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF NEW YORK; AND FURTHER PROVIDED, THAT NOTHING IN THIS AGREEMENT SHALL BE DEEMED OR OPERATE TO PRECLUDE LENDER FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO COLLECT THE
OBLIGATIONS, TO REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY FOR THE OBLIGATIONS, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF LENDER. BORROWER AND EACH OTHER CREDIT PARTY EXECUTING THIS AGREEMENT EXPRESSLY SUBMIT AND CONSENT IN
ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND BORROWER AND SUCH CREDIT PARTY HEREBY WAIVE ANY OBJECTION THAT IT MAY HAVE BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS. BORROWER
AND EACH OTHER CREDIT PARTY EXECUTING THIS AGREEMENT HEREBY WAIVE PERSONAL SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREE THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY
REGISTERED OR CERTIFIED MAIL ADDRESSED TO BORROWER OR SUCH CREDIT PARTY AT THE ADDRESS SET FORTH IN SCHEDULE B OF THIS AGREEMENT AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF BORROWER’S OR SUCH CREDIT
PARTY’S ACTUAL RECEIPT THEREOF OR THREE (3) DAYS AFTER DEPOSIT IN THE U.S. MAILS, PROPER POSTAGE PREPAID. 

  
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 (B) THE PARTIES HERETO WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING
BROUGHT TO RESOLVE ANY DISPUTE, WHETHER ARISING IN CONTRACT, TORT, OR OTHERWISE BETWEEN LENDER, BORROWER AND ANY CREDIT PARTY ARISING OUT OF, CONNECTED WITH, RELATED OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED BETWEEN THEM IN CONNECTION WITH THE
LOAN DOCUMENTS OR THE TRANSACTIONS RELATED THERETO. 
 9.11 Registry. The Credit Parties hereby designate Lender, and Lender agrees, to
serve as the agent of the Credit Parties solely for purposes of this Section 9.11, to maintain a register at one of its offices (the “Register”) on which it will record each Revolving Credit Loan made by Lender pursuant to this
Agreement and each repayment in respect of the principal amount thereof. Failure to make any such recordation, or any error in such recordation shall not affect the obligations of the Credit Parties in respect of any Revolving Credit Loan. With
respect to Lender, the transfer of a Revolving Credit Loan (or any participation therein) and the rights to the principal of, and interest on, any Revolving Credit Loan shall not be effective until such transfer is recorded on the Register
maintained by the Lender with respect to ownership of the Revolving Credit Loan. Prior to such recordation, all amounts owing to the transferor with respect to the Revolving Credit Loan shall remain owing to the transferor. The registration of an
assignment or transfer of all or part of a Revolving Credit Loan shall be recorded by Lender on the Register only upon the acceptance by Lender of a properly executed and delivered assignment and assumption agreement pursuant to this
Section 9.11. Coincident with the delivery of such an assignment and assumption agreement to Lender for acceptance and registration of assignment or transfer of all or part of a Revolving Credit Loan, or as soon thereafter as practicable, the
assigning or transferor Lender shall surrender the Note evidencing such Revolving Credit Loan, and thereupon one or more new Notes in the same aggregate principal amount shall be issued to the assigning or transferor Lender and/or the new Lender.
The Credit Parties agree to indemnify Lender from and against any and all losses, claims, damages and liabilities of whatsoever nature which may be imposed on, asserted against or incurred by Lender in performing its duties under this
Section 9.11. 
 9.12 [Intentionally Omitted] 
 9.13 Reinstatement. This Agreement shall continue to be effective, or be reinstated, as the case may be, if at any time payment of all or any part of the Obligations is rescinded or must otherwise
be returned or restored by Lender upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of any Credit Party, or otherwise, all as though such payments had not been made. 
 9.14 PathConnect. Nothing in this Agreement or in any of the Loan Documents shall prohibit any Credit Party from divesting of PathConnect, and no Credit Party shall be in default under any Loan
Document solely as a result of such divestiture. In furtherance of the foregoing, Lender will not be granted a security interest in the membership interests or any other assets of PathConnect, and PathConnect will not be a Credit Party under this
Agreement. Any references in this Agreement or any Loan Document to Holdings’, Borrower’s or any Credit Party’s “consolidated” financials (including the Financial Statements) do not include PathConnect. 

[Remainder of Page Intentionally Left Blank] 

  
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 [LOAN AND SECURITY AGREEMENT] 
 IN WITNESS WHEREOF, this Loan and Security Agreement has been duly executed as of the date first written above. 

 

			
	FVA VENTURES, INC., as Borrower
		
	By:	 	 /s/ John Tolmie 

	Name:	 	John Tolmie
	Title:	 	 Secretary and Vice President

   – Finance and Administration

	
	VISALUS HOLDINGS, LLC, as a Guarantor
		
	By:	 	 /s/ John Tolmie 

	Name:	 	John Tolmie
	Title:	 	 Secretary and Vice President

   – Finance and Administration

	
	BLYTH VSH ACQUISITION CORPORATION, as Lender
		
	By:	 	 /s/ Michael S. Novins

	Name:	 	
	Title:	 	

 SCHEDULE A 
 Definitions 

 SCHEDULE A - DEFINITIONS 
 Capitalized terms used in this Agreement and the other Loan Documents shall have (unless otherwise provided elsewhere in this Agreement or in the other Loan Documents) the following respective meanings:

 “Account Debtor” means any Person who is or may become obligated with respect to, or on account of, an Account, Chattel Paper or
General Intangible (including a Payment Intangible). 
 “Accounts” means all “accounts,” as such term is defined in the
Code, now owned or hereafter acquired by any Person, including: (i) all accounts receivable, other receivables, book debts and other forms of obligations (other than forms of obligations evidenced by Chattel Paper or Instruments) (including any
such obligations that may be characterized as an account or contract right under the Code); (ii) all of such Person’s rights in, to and under all purchase orders or receipts for goods or services; (iii) all of such Person’s
rights to any goods represented by any of the foregoing (including unpaid sellers’ rights of rescission, replevin, reclamation and stoppage in transit and rights to returned, reclaimed or repossessed goods); (iv) all rights to payment due
to such Person for Goods or other property sold, leased, licensed, assigned or otherwise disposed of, for a policy of insurance issued or to be issued, for a secondary obligation incurred or to be incurred, for energy provided or to be provided, for
the use or hire of a vessel under a charter or other contract, arising out of the use of a credit card or charge card, or for services rendered or to be rendered by such Person or in connection with any other transaction (whether or not yet earned
by performance on the part of such Person); (v) all health care insurance receivables; and (vi) all collateral security of any kind given by any Account Debtor or any other Person with respect to any of the foregoing. 

“Adjusted Consolidated Net Worth” means at any date the sum of (i) Consolidated Net Worth, determined as of such date, plus
(ii) an amount equal to the cumulative reduction in Consolidated Net Worth as a result of any Specified Non-Cash Charges occurring after May 31, 2008. 
 “Affiliate” means, with respect to any Person: (i) each other Person that, directly or indirectly, owns or controls, whether beneficially, or as a trustee, guardian or other fiduciary, ten
percent (10%) or more of the Stock having ordinary voting power for the election of directors of such Person; (ii) each other Person that controls, is controlled by or is under common control with such Person or any Affiliate of such
Person; or (iii) each of such Person’s officers, directors, joint venturers and partners. For the purpose of this definition, “control” of a Person means the possession, directly or indirectly, of the power to direct or cause the
direction of its management or policies, whether through the ownership of voting securities, by contract or otherwise. 
 “Agreement”
means this Agreement including all appendices, exhibits or schedules attached or otherwise identified thereto, restatements and modifications and supplements thereto, and any appendices, exhibits or schedules to any of the foregoing, each as in
effect at the time such reference becomes operative; provided, that except as specifically set forth in this Agreement, any reference to the Disclosure Schedules to this Agreement shall be deemed a reference to the Disclosure Schedules as in effect
on the Closing Date or in a written amendment thereto executed by Borrower and Lender. 
 “Blyth Credit Agreement” means that certain
Credit Agreement (as the same may be amended, restated, supplemented or otherwise modified or replaced from time to time) dated as of June 2, 2005 by and among Blyth, Inc., Partylite Trading SA, the Lenders listed on the signature pages
thereof, JPMorgan Chase Bank, N.A., Bank of America, N.A. and LaSalle Bank, National Association. 
 “Books and Records” means all
books, records, board minutes, contracts, licenses, insurance policies, environmental audits, business plans, files, computer files, computer discs and other data and software storage and media devices, accounting books and records, financial
statements (actual and pro forma), filings with Governmental Authorities and any and all records and instruments relating to the Collateral or Borrower’s business. 

  
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 “Borrower” means the Person(s) identified as such in the preamble of this Agreement. 

“Borrowing Availability” means, at any time, the Maximum Amount. 
 “Business Day” means any day that is not a Saturday, a Sunday or a day on which banks are required or permitted to be closed in the State of New York. 

“Capital Expenditures” means all payments or accruals (including Capital Lease Obligations) for any fixed assets or improvements or for
replacements, substitutions or additions thereto, that have a useful life of more than one year and that are required to be capitalized under GAAP. 
 “Capital Lease” means, with respect to any Person, any lease of any property (whether real, personal or mixed) by such Person as lessee that, in accordance with GAAP, either would be required to
be classified and accounted for as a capital lease on a balance sheet of such Person or otherwise would be disclosed as such in a note to such balance sheet, other than, in the case of Borrower, any such lease under which Borrower is the lessor.

 “Capital Lease Obligation” means, with respect to any Capital Lease, the amount of the obligation of the lessee thereunder that, in
accordance with GAAP, would appear on a balance sheet of such lessee in respect of such Capital Lease or otherwise be disclosed in a note to such balance sheet. 
 “Cash Amount’ has the meaning assigned to it in Section 1.6. 
 “Cash
Equivalents” means, to the extent any of the following can be converted into cash by Borrower within five Business Days, (a) marketable securities issued or directly and unconditionally guaranteed by the United States government or issued
by any agency or instrumentality thereof and backed by the full faith and credit of the United States, in each case maturing within one (1) year from the date of issuance thereof; (b) obligations of a municipality, a state, a territory or
a possession of the United States, or any political subdivision of any of the foregoing or of the District of Columbia as described in Section 103(a) of the IRC if these investments are rated at least AA- by S&P or its equivalent by another
nationally recognized credit rating agency or are secured, as to payments of principal and interest, by a letter of credit provided by a financial institution or by insurance provided by a bond insurance company whose debt is rated at least AA- by
S&P or its equivalent by another nationally recognized credit rating agency; (c) commercial paper maturing no more than 270 days from the date of acquisition thereof and, at the time of acquisition, rated at least A-1 by S&P or at least
P-1 by Moody’s; (d) investments in short term asset management accounts offered by any bank described in clause (e) of this definition for the purpose of investing in loans to a corporation (other than an Affiliate of the Borrower or
any of its Subsidiaries) organized under the laws of the United States of America or any state thereof or the District of Columbia and rated at least A-1 by S&P or at least P-1 by Moody’s; (e) certificates of deposit or banks’
acceptances maturing within one year from the date of acquisition thereof issued by any bank or trust company organized under the laws of the United States of America or any state thereof or the District of Columbia having unimpaired capital,
surplus and undivided profits of not less than $250,000,000 and (f) tax exempt and tax advantaged auction rate products issued by financial institutions and rated at least AA- by S&P or its equivalent by another nationally recognized credit
rating agency. 
 “Change of Control” means, with respect to any Person on or after the Closing Date, that any change in the
composition of its stockholders or members as of the Closing Date shall occur which would result in any stockholder, member or group acquiring more than 50% of any class of Stock of such Person, or that any Person (or group of Persons acting in
concert) shall otherwise acquire, directly or indirectly (including through Affiliates), the power to elect a majority of the Board of Directors (or equivalent thereof) of such Person or otherwise direct the management or affairs of such Person by
obtaining proxies, entering into voting agreements or trusts, acquiring securities or otherwise; provided, however, any change pursuant to the term of the Purchase Agreement shall not constitute a Change of Control for the purposes of this
definition. 

  
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 “Charges” means all Federal, state, county, city, municipal, local, foreign or other governmental
taxes (including taxes owed to PBGC at the time due and payable), levies, customs or other duties, assessments, charges, liens, and all additional charges, interest, penalties, expenses, claims or encumbrances upon or relating to (i) the
Collateral, (ii) the Obligations, (iii) the employees, payroll, income or gross receipts of any Credit Party, (iv) the ownership or use of any assets by any Credit Party, or (v) any other aspect of any Credit Party’s
business. 
 “Chattel Paper” means all “chattel paper,” as such term is defined in the Code, including electronic chattel
paper, now owned or hereafter acquired by any Person. 
 “Closing Date” means the Business Day on which the conditions precedent set
forth in Section 2 have been satisfied or specifically waived in writing by Lender, and the initial Revolving Credit Loan has been made. 

“Code” means the Uniform Commercial Code as the same may, from time to time, be in effect in the State of New York; provided, that in the event
that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of, or remedies with respect to, Lender’s Lien on in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction
other than the State of New York, the term “Code” means the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions of this Agreement relating to such attachment, perfection, priority or remedies and
for purposes of definitions related to such provisions; provided further, that to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently in different Articles or Divisions of the Code,
the definition of such term contained in Article or Division 9 shall govern. 
 “Collateral” has the meaning assigned to it in
Section 6.1. 
 “Collection Account” means that certain account of Lender at JPMorgan Chase Bank N.A., account number # 304 919
926 in the name of Blyth, Inc., ABA number # 021 000 021. 
 “Commitment Termination Date” means the earliest of (i) the Stated
Expiry Date, (ii) the date Lender’s obligation to advance funds is terminated pursuant to Section 7.2, and (iii) the date of prepayment in full by Borrower of the Obligations in accordance with the provisions of
Section 1.2(c). 
 “Consolidated Net Income” for any period means the consolidated net income of Holdings and its consolidated
Subsidiaries other than PathConnect determined on a consolidated basis for such period, excluding the effect of any Specified Non-Cash Charges occurring after May 31, 2008. 
 “Consolidated Net Worth” means at any date the consolidated stockholders’ equity of Holdings and its consolidated Subsidiaries other than PathConnect, determined as of such date.

 “Contracts” means all the contracts, undertakings, or agreements (other than rights evidenced by Chattel Paper, Documents or
Instruments) in or under which any Person may now or hereafter have any right, title or interest, including any agreement relating to the terms of payment or the terms of performance of any Account. 

“Contractual Obligation” means, with respect to any Person, any provision of any security issued by such Person or of any document or
undertaking (other than a Loan Document) to which such Person is a party or by which it or any of its property is bound or to which any of its property is subject. 
 “Copyright License” means rights under any written agreement now owned or hereafter acquired by any Person granting the right to use any Copyright or Copyright registration. 

“Copyrights” means all of the following now owned or hereafter adopted or acquired by any Person: (i) all copyrights in any original work
of authorship fixed in any tangible medium of expression, now known or later developed, all registrations and applications for registration of any such copyrights in the United States or any other country,

  
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including registrations, recordings and applications, and supplemental registrations, recordings, and applications in the United States Copyright Office; and (ii) all Proceeds of the
foregoing, including license royalties and proceeds of infringement suits, the right to sue for past, present and future infringements, all rights corresponding thereto throughout the world and all renewals and extensions thereof. 

“Credit Party” means Borrower, Holdings and each other Person (other than Lender) that is or becomes a party to this Agreement or any other
Loan Document, but in any event excludes any Foreign Subsidiary. 
 “Cumulative Equity Proceeds” has the meaning assigned to it in
paragraph 1 of Schedule D. 
 “Cumulative Positive Net Income” has the meaning assigned to it in paragraph 1 of Schedule D.

 “Default” means any Event of Default or any event that, with the passage of time or notice or both, would, unless cured or waived,
become an Event of Default. 
 “Default Rate” has the meaning assigned to it in Section 1.5(c). 

“Deposit Accounts” means all “deposit accounts” as such term is defined in the Code, now or hereafter held in the name of any Person.

 “Documents” means all “documents,” as such term is defined in the Code, now owned or hereafter acquired by any Person,
wherever located, including all bills of lading, dock warrants, dock receipts, warehouse receipts, and other documents of title, whether negotiable or non-negotiable. 
 “EBITDA” means, for any period, the Consolidated Net Income (Loss) of Holdings and its Subsidiaries (other than PathConnect) for such period, plus, to the extent deducted in the determination
thereof, interest expense, income tax expense, amortization expense, depreciation expense expense amortized with the making of payments under the Purchase Agreement, if applicable, to Incentive Holders (as defined in the Purchase Agreement) and
extraordinary losses and minus extraordinary gains, in each case, of Holdings and its Subsidiaries on a consolidated basis for such period determined in accordance with GAAP to the extent included in the determination of such Consolidated Net Income
(Loss). In the event that during any period of four consecutive fiscal quarters for which EBITDA is to be determined (the “measuring period”), Holdings or its Subsidiaries (other than PathConnect) shall have acquired or disposed of any
Person or business unit, then (i) in the case of a disposition, EBITDA shall exclude amounts thereof attributable to such Person or business unit disposed of as if such disposition had occurred on the first day of such measuring period and
(ii) in the case of an acquisition EBITDA shall be calculated on a pro forma basis as if such acquisition had been consummated on the first day of such measuring period, provided in the case of this clause (ii) that Borrower shall have
furnished to Lender audited financial statements for the relevant period for the Person or business unit so acquired or other financial statements acceptable to Lender for this purpose. 
 “Environmental Laws” means any and all Laws, orders, guidelines, codes, decrees, or other legally enforceable requirements (including common law) of any Governmental Authority regulating,
relating to or imposing liability or standards of conduct concerning protection of the environment or of human health, or employee health and safety. 
 “Environmental Liabilities” means all liabilities, obligations, responsibilities, remedial actions, removal costs, losses, damages of whatever nature, costs and expenses (including all
reasonable fees, disbursements and expenses of counsel, experts and consultants and costs of investigation and feasibility studies), fines, penalties, sanctions and interest incurred as a result of any claim, suit, action or demand of whatever
nature by any Person and which relate to any health or safety condition regulated under any Environmental Law or environmental permits. 

“Equipment” means all “equipment” as such term is defined in the Code, now owned or hereafter acquired by any Person, wherever
located, including any and all machinery, apparatus, equipment, fittings, furniture, fixtures, motor vehicles and other tangible personal property (other than Inventory) of every kind and description that may be now or

  
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hereafter used in such Person’s operations or that are owned by such Person or in which such Person may have an interest, and all parts, accessories and accessions thereto and substitutions
and replacements therefor. 
 “ERISA” means the Employee Retirement Income Security Act of 1974 (or any successor legislation
thereto), as amended from time to time, and any regulations promulgated thereunder. 
 “ERISA Affiliate” means any trade or business
(whether or not incorporated) that, together with any Credit Party, is treated as a single employer under Section 414(b), (c), (m) or (o) of the IRC, or, solely for the purposes of Section 302 of ERISA and Section 412 of the
IRC, is treated as a single employer under Section 414 of the IRC. 
 “ERISA Event” means (a) any “reportable
event”, as defined in Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day notice period is waived); (b) the existence with respect to any Plan of an
“accumulated funding deficiency” (as defined in Section 412 of the IRC or Section 302 of ERISA), whether or not waived; (c) the filing pursuant to Section 412(b) of the IRC or Section 303(d) of ERISA of an
application for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by any Credit Party or any ERISA Affiliate of any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the
receipt by any Credit Party or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or to appoint a trustee to administer any Plan; (f) the incurrence by any Credit Party or any
ERISA Affiliate of any liability with respect to any withdrawal or partial withdrawal from any Plan or Multiemployer Plan; (g) the receipt by any Credit Party or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from
any Credit Party or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA;
or (h) the commission by any Credit Party or any ERISA Affiliate (or, in either case, any employee, officer, director or agent thereof) of a “prohibited transaction” (within the meaning of Section 406 of ERISA and
Section 4975 of the Code and not exempt under Section 408 of ERISA and regulatory guidance thereunder) with respect to any Plan. 

“Event of Default” has the meaning assigned to it in Section 7.1. 
 “FDA” means the United States of America Food and Drug Administration. 

“Fees” means the fees due to Lender as set forth in Schedule E. 
 “Financial Statements” means the consolidated income statement, balance sheet and statement of cash flows of Borrower, Holdings and its Subsidiaries (other than PathConnect), internally prepared
for each Fiscal Month and audited for each Fiscal Year, prepared in accordance with GAAP. 
 “Fiscal Month” means any of the monthly
accounting periods of Borrower. 
 “Fiscal Quarter” means any of the quarterly accounting periods of Borrower. 

“Fiscal Year” means the 12 month period of Borrower ending on December 3 lst of each year. Subsequent changes of the fiscal year of Borrower
shall not change the term “Fiscal Year” unless Lender shall consent in writing to such change. 
 “Fixtures” means all
“fixtures” as such term is defined in the Code, now owned or hereafter acquired by any Person. 
 “Foreign Subsidiary” means
any Subsidiary not organized under the laws of the United States, any state thereof, or the District of Columbia. 
 “Foreign Entity”
means any entity not organized under the laws of the United States, any state thereof, or the District of Columbia. 

  
 30 

 “Funded Debt” means, with respect to any Person, without duplication, all Indebtedness for
borrowed money evidenced by notes, bonds, debentures, or similar evidences of Indebtedness and that by its terms matures more than one year from, or is directly or indirectly renewable or extendible at such Person’s option under a revolving
credit or similar agreement obligating the lender or lenders to extend credit over a period of more than one year from the date of creation thereof, and specifically including Capital Lease Obligations, current maturities of long term debt,
revolving credit and short term debt extendible beyond one year at the option of the debtor, and also including, in the case of Borrower, the Obligations. 
 “FTC” means the United States of America Federal Trade Commission. 
 “GAAP”
means generally accepted accounting principles in the United States of America as in effect from time to time, consistently applied. 

“General Intangibles” means all “general intangibles,” as such term is defined in the Code, now owned or hereafter acquired by any
Person, including all right, title and interest which such Person may now or hereafter have in or under any Contract, all Payment Intangibles, customer lists, Licenses, Intellectual Property, interests in partnerships, joint ventures and other
business associations, permits, proprietary or confidential information, inventions (whether or not patented or patentable), technical information, procedures, designs, knowledge, know-how, software, data bases, data, skill, expertise, experience,
processes, models, drawings, materials, Books and Records, Goodwill (including the Goodwill associated with any Intellectual Property), all rights and claims in or under insurance policies (including insurance for fire, damage, loss, and casualty,
whether covering personal property, real property, tangible rights or intangible rights, all liability, life, key-person, and business interruption insurance, and all unearned premiums), uncertificated securities, choses in action, deposit accounts,
rights to receive tax refunds and other payments, rights to received dividends, distributions, cash, Instruments and other property in respect of or in exchange for pledged Stock and Investment Property, and rights of indemnification. 

“Goods” means all “goods,” as such term is defined in the Code, now owned or hereafter acquired by any Person, wherever located,
including embedded software to the extent included in “goods” as defined in the Code, manufactured homes, standing timber that is cut and removed for sale and unborn young of animals. 

“Goodwill” means all goodwill, trade secrets, proprietary or confidential information, technical information, procedures, formulae, quality
control standards, designs, operating and training manuals, customer lists, and distribution agreements now owned or hereafter acquired by any Person. 
 “Governmental Authority” means any foreign, federal, state, county or local government or any other governmental, quasi-governmental, regulatory or administrative agency or authority,
multi-national organization, or any other body entitled to exercise any administrative, executive, judicial, legislative, police, regulatory or taxing power or authority of any nature. 
 “Guaranteed Indebtedness” means, as to any Person, any obligation of such Person guaranteeing any indebtedness, lease, dividend, or other obligation (“primary obligations”) of any
other Person (the “primary obligor”) in any manner, including any obligation or arrangement of such guaranteeing Person (whether or not contingent): (i) to purchase or repurchase any such primary obligation; (ii) to advance or
supply funds (a) for the purchase or payment of any such primary obligation or (b) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency or any balance sheet condition of
the primary obligor; (iii) to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation; or
(iv) to indemnify the owner of such primary obligation against loss in respect thereof. 
 “Guarantor” means each Person,
including Holdings, that executes a guaranty or a support, put or other similar agreement in favor of Lender in connection with the transactions contemplated by this Agreement. 

  
 31 

 “Guaranty” means any agreement to perform all or any portion of the Obligations on behalf of
Borrower or any other Credit Party, in favor of, and in form and substance satisfactory to, Lender, together with all amendments, modifications and supplements thereto, and shall refer to such Guaranty as the same may be in effect at the time such
reference becomes operative. 
 “Hazardous Waste” has the meaning ascribed to such term in the Resource Conservation and Recovery Act
(42 U.S.C. §§ 6901 et. seq.). 
 “Indebtedness” of any Person means, without duplication,: (i) all indebtedness of such
Person for borrowed money or for the deferred purchase price of property or services (including reimbursement and all other obligations with respect to surety bonds, letters of credit and bankers’ acceptances, whether or not matured, but not
including obligations to trade creditors incurred in the ordinary course of business and not more than ninety (90) days past due); (ii) all obligations evidenced by notes, bonds, debentures or similar instruments; (iii) all
indebtedness created or arising under any conditional sale or other title retention agreements with respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default
are limited to repossession or sale of such property); (iv) all Capital Lease Obligations; (v) all Guaranteed Indebtedness; (vi) all Indebtedness referred to in clauses (i), (ii), (iii), (iv) or (v) above secured by (or for
which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien upon or in property (including accounts and contract rights) owned by such Person, even though such Person has not assumed or become
liable for the payment of such Indebtedness; (vii) the Obligations; (viii) indebtedness incurred under any credit card (including American Express) and (ix) indebtedness incurred in connection with any agreement between any Credit
Party and any of its suppliers and distributors (but not including obligations to trade creditors incurred in the ordinary course of business and not more than ninety (90) days past due); 

“Indemnified Liabilities” and “Indemnified Person” have the respective meaning assigned to them in Section 1.11. 

“Instruments” means all “instruments,” as such term is defined in the Code, now owned or hereafter acquired by any Person, wherever
located, including all certificated securities and all promissory notes and other evidences of indebtedness, other than instruments that constitute, or are a part of a group of writings that constitute, Chattel Paper. 

“Intellectual Property” means any and all Licenses, Patents, Copyrights, Trademarks, trade secrets and customer lists. 

“Inventory” means all “inventory,” as such term is defined in the Code, now owned or hereafter acquired by any Person, wherever
located, including all inventory, merchandise, goods and other personal property that are held by or on behalf of such Person for sale or lease or are furnished or are to be furnished under a contract of service or that constitute raw materials,
work in process, finished goods, returned goods or materials or supplies of any kind, nature or description used or consumed or to be used or consumed in such Person’s business or in the processing, production, packaging, promotion, delivery or
shipping of the same, including all supplies and embedded software. 
 “Investment Property” means all “investment
property,” as such term is defined in the Code, now owned or hereafter acquired by any Person, wherever located. 
 “IRC” and
“IRS” mean respectively, the Internal Revenue Code of 1986 and the Internal Revenue Service, and any successors thereto. 

“Law” means any federal, state, local, municipal, foreign, international, multinational, or other administrative order, constitution, law,
ordinance, principle of common law, rule, regulation, statute or treaty. 
 “Lender” means Blyth VSH Acquisition Corporation, a
Delaware corporation and, if at any time Lender shall decide to assign or syndicate all or any of the Obligations, such term shall include such assignee or such other members of the syndicate. 

  
 32 

 “Letter-of-Credit Rights” means “letter-of-credit rights” as such term is defined in the
Code, now owned or hereafter acquired by any Person, including rights to payment or performance under a letter of credit, whether or not such Person, as beneficiary, has demanded or is entitled to demand payment or performance. 

“Leverage Ratio” means, with respect to Borrower and its Subsidiaries, on a consolidated basis, the ratio of (a) Funded Debt as of any
date of determination, to (b) the sum of EBITDA less Capital Expenditures for the twelve months ending on that date of determination. 
 “License” means any Copyright License, Patent License, Trademark License or other license of rights or interests now held or hereafter acquired by any Person. 

“Lien” means any mortgage, security deed or deed of trust, pledge, hypothecation, assignment, deposit arrangement, lien, charge, claim,
security interest, security title, easement or encumbrance, or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including any lease or title retention agreement, any financing lease
having substantially the same economic effect as any of the foregoing, and the filing of, or agreement to give, any financing statement perfecting a security interest under the Code or comparable law of any jurisdiction). 

“Litigation” means any claim, lawsuit, litigation, investigation or proceeding of or before any arbitrator or Governmental Authority.

 “Loan Documents” means this Agreement, the Notes, the Financial Statements, each Guaranty, the Pledge Agreement, the Power of
Attorney, and the other documents and instruments listed in Schedule C, and all security agreements, mortgages and all other documents, instruments, certificates, and notices at any time delivered by any Person (other than Lender) in connection with
any of the foregoing. 
 “Material Adverse Effect” means: a material adverse effect on (a) the business, assets, operations or
financial condition of the Credit Parties, taken as a whole, (b) Borrower’s or any other Credit Party’s ability to pay or perform the Obligations under the Loan Documents to which such Credit Party is a party in accordance with the
terms thereof, (c) the Collateral or Lender’s Liens on the Collateral or the priority of any such Lien, or (d) Lender’s rights and remedies under this Agreement and the other Loan Documents. 

“Materials of Environmental Concern” means any gasoline or petroleum (including crude oil or any fraction thereof) or petroleum products,
polychlorinated biphenyls, urea-formaldehyde insulation, asbestos, pollutants, contaminants, radioactive materials, and any other substances or forces of any kind, whether or not any such substance or force is defined as hazardous or toxic under any
Environmental Law, that is regulated pursuant to or could give rise to liability under any Environmental Law. 
 “Maximum Amount”
means (a) $5,000,000. or (b) if applicable, on and after the purchase of the Preferred Interests (as defined in the Purchase Agreement), $2,500,000. 
 “Minimum Actionable Amount” means $250,000. 
 “Moody’s” means
Moody’s Investors Service, Inc., or any successor to such corporation’s business of rating debt securities. 
 “Multiemployer
Plan” means a “multiemployer plan,” as defined in Section 4001(a) (3) of ERISA, to which Borrower, any other Credit Party or any ERISA Affiliate is making, is obligated to make, has made or been obligated to make,
contributions on behalf of participants who are or were employed by any of them. 
 “Net Borrowing Availability” means at any time the
Borrowing Availability less the Revolving Credit Loan. 

  
 33 

 “Notes” means the Revolving Credit Note. 
 “Notice of Revolving Credit Advance” has the meaning assigned to it in Section 1.1(b). 
 “Obligations” means all loans, advances, debts, expense reimbursement, fees, liabilities, and obligations for the performance of covenants, tasks or duties or for payment of monetary amounts
(whether or not such performance is then required or contingent, or amounts are liquidated or determinable) owing by any Credit Party to Lender, under this Agreement, the Note or any of the Loan Documents, and all covenants and duties regarding such
amounts. This term includes all principal, interest (including interest accruing at the then applicable rate provided in this Agreement after the maturity of the Loans and interest accruing at the then applicable rate provided in this Agreement
after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding), Fees, Charges, expenses,
attorneys’ fees and any other sum chargeable to Borrower under any of the Loan Documents, and all principal and interest due in respect of the Loans and all obligations and liabilities of any Guarantor under any Guaranty. 

“PathConnect” means PathConnect, LLC, a Delaware limited liability company, and its Subsidiaries. 

“Patent License” means rights under any written agreement now owned or hereafter acquired by any Person granting any right with respect to any
invention on which a Patent is in existence. 
 “Patents” means all of the following in which any Person now holds or hereafter
acquires any interest: (i) all letters patent of the United States or any other country, all registrations and recordings thereof, and all applications for letters patent of the United States or any other country, including registrations,
recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State or Territory thereof, or any other country; and (ii) all reissues, continuations,
continuations-in-part or extensions thereof. 
 “Payment Intangibles” means all “payment intangibles” as such term is
defined in the Code, now owned or hereafter acquired by any Person. 
 “PBGC” means the Pension Benefit Guaranty Corporation or any
successor thereto. 
 “Permit” means any notice to, filing or registration with, or permit, license, variance, waiver, exemption,
franchise, order, consent, authorization or approval of, any Governmental Authority. 
 “Permitted Encumbrances” means the following
encumbrances: (i) Liens for taxes or assessments or other governmental Charges or levies, either not yet due and payable or to the extent that nonpayment thereof is permitted by the terms of Section 3.10; (ii) pledges or deposits
securing obligations under worker’s compensation, unemployment insurance, social security or public liability laws or similar legislation; (iii) pledges or deposits securing bids, tenders, contracts (other than contracts for the payment of
money) or leases to which any Credit Party is a party as lessee made in the ordinary course of business; (iv) deposits securing public or statutory obligations of any Credit Party; (v) inchoate and unperfected workers’,
mechanics’, or similar liens arising in the ordinary course of business so long as such Liens attach only to Equipment, fixtures or real estate; (vi) carriers’, warehousemans’, suppliers’ or other similar possessory liens
arising in the ordinary course of business and consistent with past practice so long as such Liens attach only to Inventory; (vii) deposits of money securing, or in lieu of, surety, appeal or customs bonds in proceedings to which any Credit
Party is a party; (viii) zoning restrictions, easements, licenses, or other restrictions on the use of real property or other minor irregularities in title (including leasehold title) thereto, so long as the same do not materially impair the
use, value, or marketability of such real estate; (ix) Purchase Money Liens securing Purchase Money Indebtedness (or rent) to the extent permitted under Section 5(b)(vi); (x) Liens in existence on the Closing Date as disclosed on
Disclosure Schedule 5(e) provided that no such Lien is spread to cover additional property after the Closing Date and the amount of Indebtedness secured thereby is not increased except as otherwise permitted under this Agreement; and
(xi) Liens in favor of Lender securing the Obligations. 

  
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 “Person” means any individual, sole proprietorship, partnership, limited liability partnership,
joint venture, trust, unincorporated organization, association, corporation, limited liability company, institution, public benefit corporation, entity or government (whether Federal, state, county, city, municipal or otherwise, including any
instrumentality, division, agency, body or department thereof), and shall include such Person’s successors and assigns. 
 “Plan”
means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the IRC or Section 302 of ERISA, and in respect of which any Credit Party or any ERISA Affiliate is
(or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 
 “Pledge Agreement” means the Pledge Agreement, dated as of July     , 2008, made by Holdings in favor of Lender, as such agreement may be amended, modified, supplemented or
restated from time to time. 
 “Preferred Stock” means the preferred stock of Holdings contemplated to be purchased by Lender pursuant
to the terms of the Purchase Agreement. 
 “Proceeds” means “proceeds,” as such term is defined in the Code and, in any
event, shall include: (i) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to any Credit Party from time to time with respect to any Collateral; (ii) any and all payments (in any form whatsoever) made or due
and payable to any Credit Party from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of any Collateral by any governmental body, authority, bureau or agency (or any person acting under color of
governmental authority); (iii) any claim of any Credit Party against third parties (a) for past, present or future infringement of any Intellectual Property or (b) for past, present or future infringement or dilution of any Trademark
or Trademark License or for injury to the goodwill associated with any Trademark, Trademark registration or Trademark licensed under any Trademark License; (iv) any recoveries by any Credit Party against third parties with respect to any
litigation or dispute concerning any Collateral, including claims arising out of the loss or nonconformity of, interference with the use of, defects in, or infringement of rights in, or damage to, Collateral; (v) all amounts collected on, or
distributed on account of, other Collateral, including dividends, interest, distributions and Instruments with respect to Investment Property and pledged Stock; and (vi) any and all other amounts, rights to payment or other property acquired
upon the sale, lease, license, exchange or other disposition of Collateral and all rights arising out of Collateral. 
 “Products”
means all products produced, developed, or in the process of being developed by the Company, including, without limitation, the ViPak, Vi-Shape, ViSalus Trim Slim ShapeTM Program, Vi-Shape Nutritional Shake Mix, Shape-Up Health FlavorTM
Mix-Ins, Vi-SlimTM Metabolism Boosting Tablets, Vi-TrimTM Take Hold of your Hunger Drink Mix, and ViSalus NeuroTM. 

“Projections” means as of any date the consolidated balance sheet, statements of income and cash flow for Borrower and its Subsidiaries (other
than PathConnect) (including forecasted Capital Expenditures and Net Borrowing Availability) (i) by month for the next Fiscal Year, and (ii) by year for the following three Fiscal Years, in each case prepared in a manner consistent with
GAAP and accompanied by senior management’s discussion and analysis of such plan. 
 “Purchase Agreement” means, if applicable, a
contemplated Membership Interest Purchase Agreement by and among Blyth, Inc., Blyth VSH Acquisition Corporation, Holdings and the members of Holdings, as amended, restated, supplemented or otherwise modified from time to time. 

“Purchase Money Indebtedness” means (i) any Indebtedness incurred for the payment of all or any part of the purchase price of any fixed
asset, (ii) any Indebtedness incurred for the sole purpose of financing or refinancing all or any part of the purchase price of any fixed asset, and (iii) any renewals, extensions or refinancings thereof (but not any increases in the
principal amounts thereof outstanding at that time). 

  
 35 

 “Purchase Money Lien” means any Lien upon any fixed assets that secures the Purchase Money
Indebtedness related thereto but only if such Lien shall at all times be confined solely to the asset the purchase price of which was financed or refinanced through the incurrence of the Purchase Money Indebtedness secured by such Lien and only if
such Lien secures only such Purchase Money Indebtedness. 
 “Real Property” has the meaning assigned to it in Section 3.15.

 “Register” has the meaning assigned to it in Section 9.11. 
 “Requirement of Law” means as to any Person, the Certificate or Articles of Incorporation and By-Laws or other organizational or governing documents of such Person, and any law, treaty, rule or
regulation or determination of an arbitrator or a court or other Governmental Authority, including, without limitation, the FDA and the FTC, in each case binding upon such Person or any of its property or to which such Person or any of its property
is subject. 
 “Restricted Payment” means: (i) the declaration or payment of any dividend or the incurrence of any liability to
make any other payment or distribution of cash or other property or assets on or in respect of Borrower’s or any other Credit Party’s Stock; (ii) any payment or distribution made in respect of any subordinated Indebtedness of any
Credit Party in violation of any subordination or other agreement made in favor of Lender; (iii) any payment on account of the purchase, redemption, defeasance or other retirement of Borrower’s or any other Credit Party’s Stock or
Indebtedness or any other payment or distribution made in respect of any thereof, either directly or indirectly; other than (a) that arising under this Agreement or (b) interest and principal, when due without acceleration or modification
of the amortization as in effect on the Closing Date, under Indebtedness (not including subordinated Indebtedness, payments of which shall be permitted only in accordance with the terms of the relevant subordination agreement made in favor of
Lender) described in Disclosure Schedule (5(b)) or otherwise permitted under Section 5(b)(vi) or (vii); or (iv) any payment, loan, contribution, or other transfer of funds or other property to any Stockholder of such Person
which is not expressly and specifically permitted in this Agreement; provided, that no payment to Lender shall constitute a Restricted Payment. 

“Revolving Credit Advance” has the meaning assigned to it in Section 1.1(a). 
 “Revolving Credit Loan” means at any time the sum of (i) the aggregate amount of Revolving Credit Advances then outstanding, plus (ii) the amount of accrued but unpaid interest
thereon. 
 “Revolving Credit Note” means the promissory note of Borrower dated the Closing Date, substantially in the form of
Exhibit C. 
 “Revolving Credit Rate” has the meaning assigned to it in Section 1.5(a). 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., or any successor to its
business of rating debt securities. 
 “Software” means all “software” as such term is defined in the Code, now owned or
hereafter acquired by any Person, including all computer programs and all supporting information provided in connection with a transaction related to any program. 
 “Specified Non-Cash Charges” means (i) any non-cash charges as a result of SFAS 141 or SFAS 142 issued by the Financial Accounting Standards Board and (ii) any other extraordinary
non-cash charges. 
 “Stated Expiry Date” means July 30, 2009; provided that upon (a) not more than one
hundred and twenty (120) and not less than sixty (60) days prior written notice before July 30 of any year beginning in 2009 by Borrower to Lender requesting that the Stated Expiry Date be extended for one year, (b) the absence
of the existence of any Default or Event of Default at the time of such notice and the effective date of such extension, and (c) satisfaction 

  
 36 

 
with the conditions set forth in Section 2.2 on the effective date of such extension, the Stated Expiry Date shall be extended for five (5) one (1) year periods, commencing on the
first (1st) anniversary of the date of this
Agreement. The Stated Expiry Date, if so extended, shall in no event be later than the sixth (6th) anniversary of the date of this Agreement. 
 “Stock” means all certificated and uncertificated shares, options, warrants, membership interests, general or limited partnership interests, participation or other equivalents (regardless of how
designated) of or in a corporation, partnership, limited liability company or equivalent entity whether voting or nonvoting, including common stock, preferred stock, or any other “equity security” (as such term is defined in Rule 3a11-1 of
the General Rules and Regulations promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934). 

“Stockholder” means each holder of Stock of any Credit Party. 
 “Subsidiary” means, with respect to any Person, (i) any corporation of which an aggregate of more than 50% of the outstanding Stock having ordinary voting power to elect a majority of the
board of directors of such corporation (irrespective of whether, at the time, Stock of any other class or classes of such corporation shall have or might have voting power by reason of the happening of any contingency) is at the time, directly or
indirectly, owned legally or beneficially by such Person and/or one or more Subsidiaries of such Person, or with respect to which any such Person has the right to vote or designate the vote of 50% or more of such Stock whether by proxy, agreement,
operation of law or otherwise, and (ii) any partnership or limited liability company in which such Person or one or more Subsidiaries of such Person has an equity interest (whether in the form of voting or participation in profits or capital
contribution) of more than 50% or of which any such Person is a general partner or manager or may exercise the powers of a general partner or manager. 
 “Supporting Obligations” means all “supporting obligations” as such term is defined in the Code, including letters of credit and guaranties issued in support of Accounts, Chattel
Paper, Documents, General Intangibles, Instruments, or Investment Property. 
 “Taxes” means taxes, levies, imposts, deductions,
Charges or withholdings, and all liabilities with respect thereto, excluding taxes imposed on or measured by the net income of Lender pursuant to the laws of the jurisdiction in which it is organized or the jurisdiction in which the principal office
or applicable lending office of Lender is located or any subdivision thereof or therein. 
 “Termination Date” means the date on which
all Obligations under this Agreement are indefeasibly paid in full, in cash, and Borrower shall have no further right to borrow any moneys or obtain other credit extensions or financial accommodations under this Agreement. 

“Trademark License” means rights under any written agreement now owned or hereafter acquired by any Person granting any right to use any
Trademark or Trademark registration. 
 “Trademarks” means all of the following now owned or hereafter adopted or acquired by any
Person: (i) all trademarks, trade names, corporate names, business names, trade styles, service marks, logos, other source or business identifiers, prints and labels on which any of the foregoing have appeared or appear, designs and general
intangibles of like nature (whether registered or unregistered), all registrations and recordings thereof, and all applications in connection therewith, including all registrations, recordings and applications in the United States Patent and
Trademark Office or in any similar office or agency of the United States, any State or Territory thereof, or any other country or any political subdivision thereof, (ii) all reissues, extensions or renewals thereof; and (iii) all goodwill
associated with or symbolized by any of the foregoing. 
 “United States” means the United States of America, including the States and
the District of Columbia, but excluding its territories and possessions. 

  
 37 

 “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete or
partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
 Any accounting term
used in this Agreement or the other Loan Documents shall have, unless otherwise specifically provided therein, the meaning customarily given such term in accordance with GAAP, and all financial computations thereunder shall be computed, unless
otherwise specifically provided therein, in accordance with GAAP consistently applied; provided, that all financial covenants and calculations in the Loan Documents shall be made in accordance with GAAP as in effect on the Closing Date unless
Borrower and Lender shall otherwise specifically agree in writing. That certain items or computations are explicitly modified by the phrase “in accordance with GAAP” shall in no way be construed to limit the foregoing. All other undefined
terms contained in this Agreement or the other Loan Documents shall, unless the context indicates otherwise, have the meanings provided for by the Code. The words “herein”, “hereof’ and “hereunder” or other words of
similar import refer to this Agreement as a whole, including the exhibits and schedules thereto, as the same may from time to time be amended, modified or supplemented, and not to any particular section, subsection or clause contained in this
Agreement. 
 For purposes of this Agreement and the other Loan Documents, the following additional rules of construction shall apply, unless
specifically indicated to the contrary: (a) wherever from the context it appears appropriate, each term stated in either the singular or plural shall include the singular and the plural; (b) the term “or” is not exclusive;
(c) the term “including” (or any form thereof) shall not be limiting or exclusive; (d) all references to statutes and related regulations shall include any amendments of same and any successor statutes and regulations; and
(e) all references to any instruments or agreements, including references to any of the Loan Documents, shall include any and all modifications or amendments thereto and any and all extensions or renewals thereof. 

  
 38 

 SCHEDULE B 
 Lender’s and Borrower’s Addresses for Notices 

 Schedule B 
 LENDER’S AND BORROWER’S ADDRESS FOR NOTICES

 Lender’s Address 
 Blyth VSH
Acquisition Corporation 
 One East Weaver Street 
 Greenwich, CT 06831-5118 
 Attn: Jane Casey, Vice President and Treasurer 

			
	Telephone:	 	(203) 552-6619
	Facsimile:	 	(203) 661-1969

 With a copy to: 

Blyth, Inc. 
 One East Weaver Street 

Greenwich, CT 06831-5118 
 Attn: Michael M.
Novins, Vice President and General Counsel 

			
	Telephone:	 	(203) 552-6625
	Facsimile:	 	(203) 661-1969

 and a copy to: 

Finn Dixon & Herling LLP 
 177 Broad Street, 15th Floor 
 Stamford, Connecticut 06901 
 Attention: Harold B. Finn III, Esq. 
 Telephone: (203) 325-5029 

Facsimile: (203) 325-5001 
 Borrower’s
Address 
  

			
	Name:	 	FVA Ventures, Inc.
	Address	 	6300 Wilshire Boulevard
		 	Suite 1400, Los Angeles, CA 90048
	Attn:	 	Ryan Blair, President and CEO
	Telephone:	 	(323) 297-9201
	Facsimile:	 	(323) 297 - 9499

 With a copy to: 

ViSalus Holdings, LLC 
 1607 E. Big Beaver Road

 Suite 110, Troy, MI 48053 
 Attn:
John Tolmie, Senior Vice President - Finance and Administration 

			
	Telephone:	 	(248) 524-9520
	Facsimile:	 	(248) 524-9523

  
 39 

 SCHEDULE C 
 Schedule of Documents 

 Schedule C 
 SCHEDULE OF DOCUMENTS 
 The
obligation of Lender to make the initial Revolving Credit Advance is subject to satisfaction of the condition precedent that Lender shall have received the following, each, unless otherwise specified below or the context otherwise requires, dated
the Closing Date, in form and substance satisfactory to Lender and its counsel: 
 PRINCIPAL LOAN DOCUMENTS 

 

	1.	Agreement. The Loan and Security Agreement duly executed by Borrower(s). 

 

	2.	Note(s). Duly executed Note(s) to the order of Lender evidencing the Loan(s). 

 

	3.	Notice of Revolving Credit Advance. An original Notice of Revolving Credit Advance duly executed by a responsible officer of Borrowers).

 COLLATERAL DOCUMENTS. 
  

	1.	Acknowledgment Copies of Financing Statements. Acknowledgment copies of proper Financing Statements (Form UCC-1) (the “Financing Statements”) duly
filed under the Code in all jurisdictions as may be necessary or, in the opinion of Lender, desirable to perfect Lender’s Lien on the Collateral. 

  

	2.	UCC Searches. Certified copies of UCC Searches, or other evidence satisfactory to Lender, listing all effective financing statements which name Borrower(s)
(under present name, any previous name or any trade or doing business name as Lender deems appropriate) as debtor and covering all jurisdictions referred to in paragraph (1) immediately above, together with copies of such other financing
statements. 

  

	3.	Intellectual Property Documents. Agreements relating to the granting to Lender of a security interest in Intellectual Property of Borrower(s) to the extent
applicable in a form suitable for filing with the appropriate Federal filing office. 

  

	4.	Other Recordings and Filings. Evidence of the completion of all other recordings and filings (including UCC-3 termination statements and other Lien release
documentation) as may be necessary or, in the opinion of and at the request of Lender, desirable to perfect Lender’s Lien on the Collateral and ensure such Collateral is free and clear of other Liens. 

 

	5.	Power of Attorney. Powers of Attorney duly executed by each Credit Party executing the Agreement. 

 

	6.	Pledge Agreement. The Pledge Agreement duly executed and deliver by Holdings. 

 

	7.	Guaranty. The Guaranty duly executed and delivered by Holdings. 

 OTHER DOCUMENTS. 
  

	1.	Secretary Certificate. A Secretary Certificate in the form of Exhibit D to the Agreement duly completed and executed by the Secretary of each Credit Party
executing the Agreement, together with all attachments thereto. 

  

	2.	Financial Statements and Projections. Copies of the Financial Statements and Projections, which Projections shall include a capital expenditures budget for
Borrower(s) in form and substance satisfactory to Lender. 

  

	3.	Insurance Policies. Certified copies of insurance policies described in Section 3.16, together with evidence showing loss payable or additional insured
clauses or endorsements in favor of Lender. 

  
 40 

 SCHEDULE D 
 Financial Covenants 

 Schedule D 
 FINANCIAL COVENANTS 
  

	1.	Minimum Adjusted Consolidated Net Worth. On the last day of each Fiscal Quarter, Holding’s, Borrower’s Adjusted Consolidated Net Worth will not be less
than $977,717 plus 75% of Cumulative Positive Net Income plus 75% of Cumulative Equity Proceeds. For purposes of this Section, “Cumulative Positive Net Income” means, as of any date, the sum of Consolidated Net Income
for each Fiscal Year ending after December 31, 2007 (provided, that for the Fiscal Year ended December 31, 2008, Consolidated Net Income for such Fiscal Year for purposes of this covenant, shall only be calculated for the period from
June 1, 2008 to and including December 31, 2008) and on or prior to such date for which such Consolidated Net Income is a positive amount, disregarding any Fiscal Year for which Net Income is a negative amount and “Cumulative
Equity Proceeds” means, as of any date, the aggregate amount by which Consolidated Net Worth shall have been increased by reason of the issuance of capital stock of Holdings/Borrower subsequent to May 31, 2008 and on or prior to such
date. 

  

	2.	Maximum Leverage Ratio. Holdings and Borrower on a consolidated basis shall have, at the end of each Fiscal Quarter, a Leverage Ratio as of the last day of such
Fiscal Quarter and for the 12-month period then ended of not more than 2:75:1.00. 

  
 41 

 DISCLOSURE SCHEDULE (3.2) 

Places of Business; Corporate Names 

 DISCLOSURE SCHEDULE (3.2) 

CHIEF EXECUTIVE OFFICE & CORPORATE OR OTHER NAMES 

 

									
	Name	  	Type of Entity    	  	
Organization    
 ID    
	  	State of  
Incorporation
or  
Formation  	  	Chief Executive
Office
	  
 ViSalus Holdings, LLC
	  	  
 Limited liability company
	  	  
 4061829    
	  	  
 Delaware  
	  	
1607 E. Big Beaver Rd.
 Suites 110 and 150
 Troy, Michigan 48083

County of Oakland

 

	  
 FVA Ventures, Inc.
	  	  
 Corporation
	  	  
 2722389    
	  	  
 California  
	  	
1607 E. Big Beaver Rd.
 Suites 110 and 150
 Troy, Michigan 48083

County of Oakland

 

 Locations of Inventory and other Collateral Other than Chief Executive Office 

ViSalus Holdings, LLC - None 
 FVA Ventures,
Inc. 
 Leased Property: 
 6300 Wilshire Blvd. 
 Suite 1440 

Los Angeles, CA 90048 
 County of Los Angeles 
 Third Party Location: 

1545 South 4800 West 
 Salt Lake, Utah 84104 
 Other Names 

ViSalus Holdings, LLC - None 
 FVA Ventures,
Inc. 
  

	 	•	 	 ViSalus Sciences, LLC 

 DISCLOSURE SCHEDULE (3.7) 

Stock; Affiliates 

 DISCLOSURE SCHEDULE (3.7) 

STOCK & AFFILIATES 

Please see attached organizational chart. 

ViSalus Holdings, LLC 
 Authorized Units:
13,828,478 of Series A Preferred Units and 60,132,825 Common Units. 
 ViSALUS HOLDINGS, LLC 

 

							
	 Class
	 	Name	  	Units	 
			
	 Common Class A
	 	 Ryan Blair
	  	 	13,043,478	  
		 	 Blake Mallen
	  	 	13,043,478	  
		 	 Nick Sarnicola
	  	 	13,043,478	  
		 	 Ropart Asset Management
	  	 	3,345,065	  
		 		  	  
	  
	 
		 	 Total Class A
	  	 	42,475,499	  
			
	 Common Class B
	 	 John Tolmie
	  	 	978,261	  
		 	 Josh Beal
	  	 	745,659	  
		 	 John Laun
	  	 	598,094	  
		 	 Phil Gomez
	  	 	413,043	  
		 	 Eric Abel
	  	 	369,565	  
		 	 Audrey Sommerfeld
	  	 	326,087	  
		 	 Zorica Bosev
	  	 	163,043	  
		 	 Adam Wescott
	  	 	104,348	  
		 	 Rich Pala
	  	 	75,965	  
		 	 Ridgely Goldsborough
	  	 	54,783	  
		 		  	  
	  
	 
			
		 	 Total Class B
	  	 	3,828,848	  
			
	 Series A Preferred
	 	 Ropart Asset Management**
	  	 	13,043,478	  
		 		  	  
	  
	 
		
	 Total Authorized Units
	  	 	59,347,825	  

  

	**	Note - Ropart Asset Management has a side agreement with James Frank to assign to him 10% of the value of the Pref Units. 

FVA Ventures. Inc. 
 Authorized Shares:
10,000,000 shares of common stock and 10,000,000 shares of preferred stock. 
  

							
	Shareholder	 	Number of Shares of Common  
          
Stock Held            	  	Percentage of Ownership	 
	 ViSalus Holdings, LLC

 
	 	
150,000         

 
	  	 
 
	100
 
	% 
 

  
 2 

	
	

  

	*	- PathConnect is currently a Single Member LLC with $750k advanced by Note Holders in the form of Convertible Notes which are due December 31, 2008. We expect to
convert those Notes along with allocating up to 15% of Equity to an Employee pool 

	**	- PC’s investments are in various stages of development and formalization Signed Operating Agreements exist for - Arrive by 25, MTDN Draft Opertaing Agreements
awaiting signature for - SkiSpace 

 PC’s investment in FragMob not yet finalized; Intent is to own 30%

  
 3 

 DISCLOSURE SCHEDULE (3.9) 

Taxes 

 DISCLOSURE SCHEDULE (3.9)

TAXES 
 None. 

  
 4 

 DISCLOSURE SCHEDULE (3.11) 

ERISA 

 DISCLOSURE SCHEDULE (3.11)

ERISA 
 None. 

  
 5 

 DISCLOSURE SCHEDULE (3.12) 

Litigation 

 DISCLOSURE SCHEDULE (3.12)

LITIGATION 
 None. 

  
 6 

 DISCLOSURE SCHEDULE (3.13) 

Intellectual Property 

 DISCLOSURE SCHEDULE (3.13) 

INTELLECTUAL PROPERTY 
 U.S. AND FOREIGN PATENTS AND PATENT APPLICATIONS 
  

																	
	No.  	 	Title	 	Country  	 	Appl. No.  	 	Appl. Date  	 	Reg. No.   	 	Reg. Date   	 	Status  	 	Owner
	1.      	 	 Dietary supplement formulation and
method of use
  
	 	U.S.	 	61/027175	 	02/08/08	 	—	 	—	 	Unpublished	 	ViSalus Holdings, LLC
	2.  	 	 Customized health beverage
system
  
	 	U.S.	 	12/028336	 	02/08/08	 	—	 	—	 	Unpublished	 	ViSalus Holdings, LLC
	3.  	 	 Dietary beverage composition and
beverage concentrate
  
	 	U.S.	 	61/055758	 	05/23/08	 	—	 	—	 	Unpublished	 	 In process of
being assigned to ViSalus Holdings, LLC
  

 U.S. TRADEMARKS 
  

															
	No.  	 	Mark	 	Appl. No.   	 	Appl. Date   	 	Reg. No.   	 	Reg. Date   	 	Status  	 	Owner
	1.      	 	PATHCONNECT	 	78879898	 	05/09/06	 	3317722	 	10/23/07	 	Registered	 	ViSalus Holdings, LLC
	2.  	 	VISALUS SCIENCES	 	78876860	 	05/04/06	 	3312137	 	10/16/07	 	Registered	 	ViSalus Holdings, LLC
	3.  	 	VI-PAK	 	78876826	 	05/04/06	 	3297690	 	09/25/07	 	Registered	 	ViSalus Holdings, LLC
	4.  	 	TOLD U SO	 	77514272	 	07/03/08	 	—  	 	—  	 	Pending	 	ViSalus Holdings, LLC
	5.  	 	VISALUS NEURO	 	77143492	 	03/29/07	 	—  	 	—  	 	Pending	 	ViSalus Holdings, LLC
	6.  	 	WHERE GIVING IS GOING	 	77501963	 	06/18/08	 	—  	 	—  	 	Pending	 	ViSalus Holdings, LLC
	7.  	 	VI-DIFFERENCE	 	77501957	 	06/18/08	 	—  	 	—  	 	Pending	 	ViSalus Holdings, LLC
	8.  	 	VISALUS VI-NET	 	77501815	 	06/18/08	 	—  	 	—	 	Pending	 	ViSalus Holdings,
LLC

  
 7 

															
	No.  	 	Mark	 	Appl. No.   	 	Appl. Date   	 	Reg. No.   	 	Reg. Date   	 	Status  	 	Owner
	9.    	 	VI-NET	 	77501811	 	06/18/08	 	—  	 	—  	 	Pending  	 	ViSalus Holdings, LLC
	10.	 	VISALUS VI- DIFFERENCE	 	77349958	 	12/12/07	 	—  	 	—  	 	Pending  	 	ViSalus Holdings, LLC
	11.	 	VI-DIFFERENCE	 	77349949	 	12/12/07	 	—  	 	—  	 	Pending  	 	ViSalus Holdings, LLC
	12.	 	VI-TRIM	 	77341211	 	11/30/07	 	—  	 	—  	 	Pending  	 	ViSalus Holdings, LLC
	13.	 	VI-SLIM	 	77341196	 	11/30/07	 	—  	 	—  	 	Pending  	 	ViSalus Holdings, LLC
	14.	 	VI-SHAPE	 	77341173	 	11/30/07	 	—  	 	—	 	Pending  	 	ViSalus Holdings, LLC
	15.	 	VISALUS TSS	 	77341158	 	11/30/07	 	—  	 	—	 	Pending  	 	ViSalus Holdings, LLC

 FOREIGN TRADEMARKS 

 

											
	No.  	 	Mark	 	Country   	 	Appl. No.   	 	Appl. Date   	 	Owner
	 1.    
	 	VISALUS NEURO	 	Canada 	 	1400271	 	06/19/08	 	ViSalus Holdings, LLC
	 2.  
	 	VISALUS SCIENCES	 	Canada 	 	1400191	 	06/18/08	 	ViSalus Holdings, LLC
	 3.  
	 	VI-SHAPE	 	Canada 	 	1400289	 	06/19/08	 	ViSalus Holdings, LLC
	 4.  
	 	VI-SLIM	 	Canada 	 	1400287	 	06/19/08	 	ViSalus Holdings, LLC
	 5.  
	 	VI-TRIM	 	Canada 	 	1400288	 	06/19/08	 	ViSalus Holdings, LLC
	 6.  
	 	VISALUS NEURO	 	Europe 	 	006998141	 	06/18/08	 	ViSalus Holdings, LLC
	 7.  
	 	VISALUS SCIENCES	 	Europe 	 	006998926	 	06/18/08	 	ViSalus Holdings, LLC
	 8.  
	 	VI-SHAPE	 	Europe 	 	006998579	 	06/18/08	 	ViSalus Holdings, LLC
	 9.  
	 	VI-SLIM	 	Europe 	 	006998322	 	06/18/08	 	ViSalus Holdings, LLC
	 10.  
	 	VI-TRIM	 	Europe 	 	006998661	 	06/18/08	 	ViSalus Holdings, LLC
	 11.  
	 	VISALUS NEURO	 	Jamaica 	 	—	 	—	 	ViSalus Holdings, LLC
	 12.  
	 	VISALUS SCIENCES	 	Jamaica 	 	—	 	—	 	ViSalus Holdings, LLC
	 13.  
	 	VI-SHAPE	 	Jamaica 	 	—	 	—	 	ViSalus Holdings,
LLC

  
 8 

											
	No.  	 	Mark	 	Country   	 	Appl. No.   	 	Appl. Date   	 	Owner
	 14.  
	 	VI-SLIM	 	Jamaica	 	—	 	—	 	ViSalus Holdings, LLC
	 15.  
	 	VI-TRIM	 	Jamaica	 	—	 	—	 	ViSalus Holdings, LLC
	 16.  
	 	VISALUS NEURO	 	Mexico	 	—	 	—	 	ViSalus Holdings, LLC
	 17.  
	 	VISALUS SCIENCES	 	Mexico	 	—	 	—	 	ViSalus Holdings, LLC
	 18.  
	 	VI-SHAPE	 	Mexico	 	—	 	—	 	ViSalus Holdings, LLC
	 19.  
	 	VI-SLIM	 	Mexico	 	—	 	—	 	ViSalus Holdings, LLC
	 20.      
	 	VI-TRIM	 	Mexico	 	—	 	—	 	ViSalus Holdings, LLC

 Product Formulas have been provided for: 

 

	•	 	 ViSalus Neuro (Raspberry and Lemon) 

  

	•	 	 Vi-Shape Shake Mix 

  

	•	 	 Vi-Trim Drink 

  

	•	 	 Vi-Slim Tablets 

  

	•	 	 Omega Vitals (licensed from Dr. Seidman) 

  

	•	 	 Super Charged Anti-Oxidant (licensed from Dr. Seidman) 

 

	•	 	 Anti-Age and Energy capsule (licensed from Dr. Seidman) 

 

	•	 	 Multi Mineral Vitamin tablet (licensed from Dr. Seidman) 

 

	•	 	 Vimmunity capsule (licensed from Dr. Seidman) 

  

	•	 	 Vi-Kids tablet (licenses from Dr. Seidman) 

  

	•	 	 Nutri-One 

 Web
Application: 
 Please note that a ViNet web application is in development. 

  
 9 

 Domain Names: 
  

									
	afleryourservice.com	  	lifehealthprosperity.org	  	thevi.net	  	visaluscalender.com	  	visalusupport.com
	alaskavisalus.com	  	michaelseidman.net	  	trimslimshape.com	  	visalusciences.com	  	visalusupport.net
	athleteincome.com	  	money4military.com	  	trimslimshape.net	  	visalusciences.net	  	visalusvinet.com
	beamerfever.com	  	mortgagedownturn.com	  	truthaboutvisalus.com	  	visalusdifference.com	  	visalusvipak.com
	bmwgratis.com	  	myfuturevision.com	  	understandingvisalus.com	  	visaluselements.com	  	visalusvishape.com
	bodiesandbeamers.com	  	myvisalus.com	  	vgsteam.com	  	visalusglobalsuccessteam.com	  	visalusvi-shape.com
	bodiesandbimmers.com	  	naturabella.info	  	vidifference.com	  	visalusignite.com	  	visalusvisions.com
	campaign4prosperity.com	  	neurofuel.com	  	vi-difference.com	  	visaluslatino.com	  	visalusvislim.com
	campaignforprosperity.com	  	newyearsrev.com	  	vi-kids.net	  	visalusleadtraining.com	  	visalusvi-slim.com
	catchthebeemerfever.com	  	newyearsrevolutions.com	  	vi-mission.com	  	visalusnet.com	  	visalusvitality.com
	catchthebimmerfever.com	  	nuerosmartenergy.com	  	vimunnity.com	  	visalusnetwork.com	  	visalusvitrim.com
	devvi.net	  	operationlifehealthproperity.com	  	vipak.co.uk	  	visalusneuro.com	  	visalusvi-trim.com
	drmichaelseidman.com	  	otbloans.com	  	vipak.com.cn	  	visalusneuroenergy.com	  	visaluswebinar.com
	drseidman.com	  	ourvi.net	  	vipakforlife.com	  	visalusnews.com	  	vishape.com
	earnathomemoms.com	  	race2regional.com	  	viprosperity.com	  	visalusnewsroom.com	  	vi-shape.com
	earningeducators.com	  	racetoregional.com	  	vi-prosperity.com	  	visalusreview.com	  	vi-slim.com
	escapefromescape.com	  	realestatedownturn.com	  	visal.us	  	visalussciences.co.uk	  	vislim.net
	fctmail.com	  	revolutionschallenge.com	  	visalus.bz	  	visalussciences.com	  	vi-trim.com
	financialgpaboost.com	  	scamdotcomisascam.com	  	visalus.cc	  	visalussciences.com.cn	  	vitrim.net
	futurevisionalliance.com	  	shopvisalus.com	  	visalus.co.uk	  	visalussciences.net	  	vivroom.com
	fvamedia.com	  	slumpingmortgage.com	  	visalus.com	  	visalusshapeup.com	  	wantatrimslimshape.com
	fvanews.com	  	slumpingrealestate.com	  	visalus.com.cn	  	visalussst.com	  	wheregivingisgoing.com
	fvaventures.com	  	slumpsolution.com	  	visalus.in	  	visalus-sst.com	  	whoisdrseidman.com
	getatrimslimshape.com	  	slumpsolutions.com	  	visalus.mobi	  	visalusstudies.com	  	whyvisalus.com
	gettingstartedtraining.com	  	tailgatetour06.com	  	visalus.net.cn	  	visalussupport.com	  	whywellness.net
	growingtopline.com	  	teachersfuture.com	  	visalus.nu	  	visalussupport.net	  	youcantconrolit.com
	healthsciencejoumal.com	  	teachingwithoutclass.com	  	visalus.org.uk	  	visalusthetruth.com	  	yourvi.net
	igi-arts.com	  	teachingwithoutclass.net	  	visalus.ws	  	visalus-the-truth.com	  	 
	itsavithing.net	  	teachingwithoutclass.org	  	visalusbeachlifestyle.com	  	visalustrimslimshape.com	  	 
	joinvisalus.com	  	thatbabyboom.com	  	visalusbimmerclub.com	  	visalustruth.com	  	 
	launchmeeting.net	  	thehealx.com	  	visalusblogg.com	  	visalustss.com	  	 
	lifehealthprosperity.com.cn	  	thetruthaboutvisalus.com	  	visalusbuilderleads.com	  	visalus-tss.com	  	 

  
 10 

 DISCLOSURE SCHEDULE (3.15) 

Environmental Matters 

 DISCLOSURE SCHEDULE (3.15)

ENVIRONMENTAL MATTERS 
 None.

  
 11 

 DISCLOSURE SCHEDULE (3.16) 

Insurance 

 DISCLOSURE SCHEDULE (3.16) 

INSURANCE 
 Note that all
contracts cover the Borrower and Holdings. 
 Property 
 American Empire Surplus Lines 
 Policy #08-CP23707 

Effective 5/10/08 to 5/10/09 
 $250k Property;
$835k Inventory 
 General Liability 
 Evanston Insurance Company 
 Policy #SP-836949 

Effective 5/10/09 to 5/10/09 
 $2m Aggregate; $2m
per Occurrence 
 Workers Compensation 
 Michigan 
 Delos Insurance Company 

Policy #FCD0002665-02 
 Effective 5/10/08 to
5/10/09 
 $500k Policy Limit; $100k each accident or disease 
 California 
 Endurance American Insurance Company 

Policy #WEN0021476-02 
 Effective 5/10/08 to
5/10/09 
 $lm Policy Limit; $lm each accident or disease 
 Automobile Liability 
 Amerisure Companies 

Policy #CA2049575000000 
 Hired and Non-owned
autos 
 Effective 10/22/07 to 10/22/08 

$lm limit 

  
 12 

 DISCLOSURE SCHEDULE (3.20) 

Compliance with Laws 

 DISCLOSURE SCHEDULE (3.20) 

COMPLIANCE WITH LAWS 
 Nothing
to disclose, other than such issues as may be addressed in the Quality Control Plan. 

  
 13 

 DISCLOSURE SCHEDULE (5(b)) 

Indebtedness 

 DISCLOSURE SCHEDULE (5(b)) 

INDEBTEDNESS 
 Unsecured Note
payable to Ropart Asset Management Fund II, LLC in the amount of $ 1,449,871 to be paid on the Closing Date. 

  
 14 

 DISCLOSURE SCHEDULE (5(e)) 

Liens 

 DISCLOSURE SCHEDULE (5(e)) 

LIENS 
 None. 

  
 15 

 DISCLOSURE SCHEDULE (6.1) 

Actions to Perfect Liens 

 DISCLOSURE SCHEDULE (6.1) 

ACTIONS TO PERFECT LIENS 

UCC Filings 
  

	 	•	 	 State of Delaware (Holdings) 

  

	 	•	 	 State of California (Borrower) 

 Other Actions to Perfect Liens 
  

	 	•	 	 Delivery and possession of pledged collateral. 

  

	 	•	 	 Filing with the United States Patent and Trademark Office of the Intellectual Property Security Agreement. 

  
 16 

 EXHIBIT A 
 Form of Notice of Revolving Credit Advance 

 Exhibit A 
 Notice Of Revolving Credit Advance 
 BLYTH VSH ACQUISITION CORPORATION, as Lender under

 the Loan Agreement referred to below 
 [                            , 20    ]

 Attention: [                    ]

 Re: FVA Ventures, Inc. (the “Borrower”) 
 Reference is made to the Loan and Security Agreement, dated as of [                    ], 2008 (as the
same may be amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”), among the Borrower, ViSalus Holdings, LLC and Blyth VSH Acquisition Corporation (the “Lender”). Capitalized terms used
herein without definition are used as defined in the Loan Agreement. 
 The Borrower hereby gives you irrevocable notice,
pursuant to Section 1.1(b) of the Loan Agreement of its request of a Revolving Credit Advance (the “Proposed Borrowing”) under the Loan Agreement and, in that connection, sets forth the following information: 

The date of the Proposed Borrowing is [                ,
20    ] (the “Funding Date”). 
 The aggregate principal amount of the requested Revolving Credit
Advance is $[            ]. 
 The undersigned hereby certifies
that, except as set forth on Schedule A attached hereto, the following statements are true on the date hereof and will be true on the Funding Date, both before and (except in the case of clause (e) below) after giving effect to the Proposed
Borrowing and any other Revolving Credit Advance to be made on or before the Funding Date: 
 (a) the representations and
warranties set forth in Article 3 of the Loan Agreement and elsewhere in the Loan Documents are true and correct in all material respects as of such date, except (i) to the extent that any such representation or warranty expressly stated to
relate to a specific earlier date, in which case, such representation or warranty was true and correct in all material respects as of such earlier date and (ii) to the extent that any such representation or warranty (including the
representations and warranties referred to in clause (i)) is qualified by materiality, such representation and warranty shall be true and correct in all respects; 
 (b) no event or circumstance that has had or reasonably could be expected to have a Material Adverse Effect has occurred since the Closing Date; 

(c) no Default has occurred and is continuing or would result after giving effect to the Revolving Credit Advance hereunder; 

(d) the Revolving Credit Loan does not exceed the Borrowing Availability; and 

(e) the Credit Parties, in the aggregate, immediately prior to the incurrence of this Revolving Credit Advance, have less than the Cash
Amount (excluding, if applicable, the proceeds of the Preferred Interest Purchase Price). 
  

			
	FVA VENTURES, INC.
		
	By:	 	  

 

			
	Name:	 	
	Title:	 	

  
 55 

 EXHIBIT B 
 Other Reports and Information 

 Exhibit B 
 Required Reports and Other Information 
  

													
	 	 	 	 	 Daily
	 	 	 	 Weekly
	 	 	 	 Monthly

		 		 		 		 		 		 	
	 1.      Exhibit “A” Notice of Revolving Credit Advances
	 		 	 	 		 	 	 		 	 
	 2.      Other Reports as Set Forth in Section 4.1 of the Loan Agreement,
including, without limitation:
	 		 	 	 		 	 	 		 	 
	 		 	 	 		 	 	 		 	 
		 		 	 	 		 	 	 		 	 
	 (i) Exhibit “F” Compliance Certificate
	 		 	 	 		 	 	 		 	 
	 (ii) Interim Financial Statements (as described in section 4.1(b))
	 		 	 	 		 	 	 		 	 
	 (iii) Audited Financial Statements (as described in section 4.1(c))
	 		 	 	 		 	 	 		 	 
							
	 Any Items Due Monthly are due by the 15th day of the following month.

All Reporting is As Requested by the Lender from Time to Time
	 		 		 		 		 		 	

  
 56 

 EXHIBIT C 
 Form of Revolving Credit Note 

 EXHIBIT C - FORM OF REVOLVING
CREDIT NOTE 
  

			
	$5,000,000	  	July [    ], 2008
		  	New York, New York

 For value received, the receipt and sufficiency of which are hereby acknowledged, FVA VENTURES, INC., a California
corporation (“Borrower”), hereby promises to pay to the order of BLYTH VSH ACQUISITION CORPORATION, a Delaware corporation (“Lender”), FIVE MILLION DOLLARS ($5,000,000) or such greater or lesser amount as shall be advanced by
Lender from time to time, together with interest on the unpaid balance of such amount from the date of the initial Revolving Credit Advance. This Note is the Revolving Credit Note issued under the Loan and Security Agreement between Borrower and
Lender of even date herewith (said agreement, as the same may be amended, restated or supplemented from time to time, being herein called the “Agreement”) to which a reference is made for a statement of all of the terms and conditions of
the Revolving Credit Loan evidenced hereby. Capitalized terms not defined in this Note shall have the respective meanings assigned to them in the Agreement. This Note is secured by the Agreement, the other Loan Documents and the Collateral, and is
entitled to the benefit of the rights and security provided thereby. 
 Interest on the outstanding principal balance under this Note is payable
at the Revolving Credit Rate, or, under the circumstances contemplated by the Agreement, at the Default Rate, in immediately available United States Dollars at the time and in the manner specified in the Agreement. The outstanding principal and
interest under this Note shall be immediately due and payable on the Commitment Termination Date. Payments received by Lender shall be applied against principal and interest as provided for in the Agreement. Borrower acknowledges that
(a) Lender is authorized under the Agreement to charge to the Revolving Credit Loan unpaid Obligations of Borrower to Lender, (b) the principal amount of the Revolving Credit Loan will be increased by such amounts, and (c) the
principal, as so increased, will bear interest as provided for herein and in the Agreement. 
 To the fullest extent permitted by applicable
law, Borrower waives: (a) presentment, demand and protest, and notice of presentment, dishonor, intent to accelerate, acceleration, protest, default, nonpayment, maturity, release, compromise, settlement, extension or renewal of any or all of
the Obligations, the Loan Documents or this Note; (b) all rights to notice and a hearing prior to Lender’s taking possession or control of, or to Lender’s replevy, attachment or levy upon, the Collateral or any bond or security that
might be required by any court prior to allowing Lender to exercise any of its remedies; and (c) the benefit of all valuation, appraisal and exemption laws. 
 Borrower acknowledges that this Note is executed as part of a commercial transaction and that the proceeds of this Note will not be used for any personal or consumer purpose. 

Upon the occurrence and continuance of any one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this
Note shall become, or may be declared to be, immediately due and payable, all as provided therein. 
 Borrower agrees to pay to Lender all Fees
and expenses described in the Agreement. 
 BORROWER ACKNOWLEDGES THAT BORROWER HAS WAIVED THE RIGHT TO TRIAL BY JURY IN ANY ACTION OR
PROCEEDING ON THIS NOTE. THIS NOTE IS GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 
  

			
	FVA VENTURES, INC.
		
	By:	 	  

 

			
	Name:	 	
	Title:	 	

  
 1 

 EXHIBIT D 
 Form of Secretarial Certificate 

 EXHIBIT D - SECRETARIAL CERTIFICATE1 
 The undersigned hereby certifies that he or she is the duly elected and acting Secretary or Assistant Secretary of FVA Ventures, Inc., a California corporation (“Credit Party”), and as such is
the custodian of Credit Party’s Books and Records and is authorized to execute and deliver this Certificate in connection with the Revolving Credit Loans being made to Credit Party by Blyth VSH Acquisition Corporation, as Lender under the Loan
and Security Agreement (“Agreement”) of even date herewith. Capitalized terms not defined in this Certificate shall have the meanings ascribed to them in the Agreement. In order to induce Blyth VSH Acquisition Corporation to execute the
Agreement and make the Revolving Credit Loans, the undersigned certifies (in his or her secretarial capacity, and on behalf of Credit Party) as follows: 
 1. Attached as Attachment 1 hereto is a full, complete, and correct copy of Credit Party’s articles or certificate of incorporation or other creating instrument (“Charter”) as filed
and recorded with the Secretary of State of California, which Charter has not been rescinded or amended and remains in full force and effect in its entirety. 
 2. Attached as Attachment 2 is a copy of a written confirmation from the Secretary of State of California, dated
                     confirming that the Charter of Credit Party in the form of Attachment 1 remains on file and that Credit Party is a
corporation in good standing in the State of California. 
 3. Attached as Attachment 3 is a copy of the By-Laws of Credit Party, and as
of the Closing Date the By-Laws are in full force and effect and have not been amended or rescinded. 
 4. Attached as Attachment 4 are
copies of good standing certificates dated not more than 30 days prior to the Closing Date for each state or jurisdiction in which Credit Party does business confirming that Credit Party is qualified to engage in business in such jurisdiction and
such qualification is in good standing. 
 5. Attached as Attachment 5 are copies of the Resolutions of the Board of Directors of Credit
Party duly adopted by Credit Party’s Board of Directors in a meeting duly called upon proper notice, or by written consent in conformity with the corporate and other laws of such Credit Party’s state of incorporation and with Credit
Party’s Charter and By-Laws, which Resolutions authorize (a) Credit Party to execute and deliver the Loan Documents to which it is a party and to borrow the funds intended to be borrowed thereunder, and (b) the officers of Credit
Party to execute and deliver the Loan Documents to which it is a party. There is no provision of Credit Party’s Charter or By-Laws limiting or contravening the Resolutions attached as Attachment 5, which Resolutions have not been
amended, modified, revoked or rescinded and are in full force and effect. 
 6. No consent, license or approval of any Governmental Authority or
any other Person is necessary in connection with the execution and delivery of the Loan Documents by Credit Party. 
 The undersigned officers
and employees of Credit Party have been elected to the positions set forth opposite their respective names below, are qualified to act in such capacities and to execute and deliver the Loan Documents on behalf of Credit Party, and the signature set
opposite each name is the authentic signature of such officer or employee: 
  

											
	NAME	 		  	TITLE	  		  	SIGNATURE	  	
	  
	 		  	  
	  		  	  
	  	
	  
	 		  	  
	  		  	  
	  	
	  
	 		  	  
	  		  	  
	  	

 IN WITNESS WHEREOF, the undersigned have executed this Certificate on [July     ], 2008.

  

	1 	 Note: Some minor adjustments will need to be made to these certificates depending on what type of legal entity the applicable Credit Party is.

  
 58 

					
		 	  
	 	
		 	Secretary of FVA Ventures, Inc.	 	

 The Undersigned, the
[                    ] of Credit Party, hereby certifies that
[                    ] is the Secretary of Credit Party and is authorized to execute and deliver this Certificate. 

 

					
		 	  
	 	
		 	Name:	 	
		 	Date:	 	

  
 59 

 EXHIBIT D-1 - SECRETARIAL CERTIFICATE 

The undersigned hereby certifies that he or she is the duly elected and acting Secretary or Assistant Secretary of ViSalus Holdings, LLC a Delaware
limited liability company (“Credit Party”), and as such is the custodian of Credit Party’s Books and Records and is authorized to execute and deliver this Certificate in connection with the Loans being made to ViSalus Holdings, LLC by
Blyth VSH Acquisition Corporation, as Lender under the Loan and Security Agreement (“Agreement”) of even date herewith. Capitalized terms not defined in this Certificate shall have the meanings ascribed to them in the Agreement. In order
to induce Blyth VSH Acquisition Corporation to execute the Agreement and make the Revolving Credit Loans, the undersigned certifies (in his or her secretarial capacity, and on behalf of Credit Party) as follows: 

1. Attached as Attachment 1 hereto is a full, complete, and correct copy of Credit Party’s articles or certificate of incorporation or other
creating instrument (“Charter”) as filed and recorded with the Secretary of State of Delaware, which Charter has not been rescinded or amended and remains in full force and effect in its entirety. 

2. Attached as Attachment 2 is a copy of a written confirmation from the Secretary of State of Delaware, dated
                     confirming that the Charter of Credit Party in the form of Attachment 1 remains on file and that Credit Party is a
limited liability company in good standing in the State of Delaware. 
 3. Attached as Attachment 3 is a copy of the By-Laws of Credit
Party, and as of the Closing Date the By-Laws are in full force and effect and have not been amended or rescinded. 
 4. Attached as
Attachment 4 are copies of good standing certificates dated not more than 30 days prior to the Closing Date for each state or jurisdiction in which Credit Party does business confirming that Credit Party is qualified to engage in business in
such jurisdiction and such qualification is in good standing. 
 5. Attached as Attachment 5 are copies of the Resolutions of the Board
of Directors of Credit Party duly adopted by Credit Party’s Board of Directors in a meeting duly called upon proper notice, or by written consent in conformity with the corporate and other laws of such Credit Party’s state of incorporation
and with Credit Party’s Charter and By- Laws, which Resolutions authorize (a) Credit Party to execute and deliver the Loan Documents to which it is a party and to borrow the funds intended to be borrowed thereunder, and (b) the
officers of Credit Party to execute and deliver the Loan Documents to which it is a party. There is no provision of Credit Party’s Charter or By-Laws limiting or contravening the Resolutions attached as Attachment 5, which Resolutions
have not been amended, modified, revoked or rescinded and are in full force and effect. 
 6. No consent, license or approval of any
Governmental Authority or any other Person is necessary in connection with the execution and delivery of the Loan Documents by Credit Party. 

The undersigned officers and employees of Credit Party have been elected to the positions set forth opposite their respective names below, are qualified
to act in such capacities and to execute and deliver the Loan Documents on behalf of Credit Party, and the signature set opposite each name is the authentic signature of such officer or employee: 

 

											
	NAME	 		  	TITLE	  		  	SIGNATURE	  	
	  
	 		  	  
	  		  	  
	  	
	  
	 		  	  
	  		  	  
	  	
	  
	 		  	  
	  		  	  
	  	

 IN WITNESS WHEREOF, the undersigned have executed this Certificate on [July    ], 2008.

  

					
		  	  
	  	
		  	Secretary of ViSalus Holdings, LLC	  	

  
 60 

 The Undersigned, the Chief Executive Officer of Credit Party, hereby certifies that
[                    ] is the Secretary of Credit Party and is authorized to execute and deliver this Certificate. 

 

					
		 	  
	 	
		 	Name:	 	
		 	Date:	 	

  
 61 

 EXHIBIT E 
 Form of Power of Attorney 

 EXHIBIT E - POWER OF ATTORNEY

 This Power of Attorney is executed and delivered by FVA Ventures, Inc., a California corporation (“Credit Party”), to Blyth VSH
Acquisition Corporation, a Delaware corporation (hereinafter referred to as “Attorney”), as Lender, under a Loan and Security Agreement dated as even date herewith (as amended, restated, supplemented or otherwise modified from time to
time, the “Agreement”; capitalized terms are used herein as defined in the Agreement) between FVA Ventures, Inc., ViSalus Holding, LLC and Attorney. No person to whom this Power of Attorney is presented, as authority for Attorney to take
any action or actions contemplated hereby, shall inquire into or seek confirmation from Credit Party as to the authority of Attorney to take any action described below, or as to the existence of or fulfillment of any condition to this Power of
Attorney, which is intended to grant to Attorney unconditionally the authority to take and perform the actions contemplated herein, and Credit Party irrevocably waives any right to commence any suit or action, in law or equity, against any person or
entity which acts in reliance upon or acknowledges the authority granted under this Power of Attorney. The power of attorney granted hereby is coupled with an interest, and may not be revoked or canceled by Credit Party without Attorney’s
written consent until payment in full of all Obligations due to Attorney under the Loan Documents. 
 Credit Party hereby irrevocably
constitutes and appoints Attorney (and all officers, employees or agents designated by Attorney), with full power of substitution, as Credit Party’s true and lawful attorney-in-fact with full irrevocable power and authority in the place and
stead of Credit Party and in the name of Credit Party or in its own name, from time to time in Attorney’s discretion, to take any and all appropriate action and to execute and deliver any and all documents and instruments which may be necessary
or desirable to accomplish the purposes of the Loan Documents, in each case during the existence of an Event of Default, and, without limiting the generality of the foregoing, Credit Party hereby grants to Attorney the power and right, on behalf of
Credit Party, without notice to or assent by Credit Party, and at any time following the occurrence and continuance of an Event of Default, to do the following: (a) change the address for delivery of mail, open mail for Credit Party, and ask,
demand, collect, give acquittances and receipts for, take possession of, endorse and receive payment of, any checks, drafts, notes, acceptances, or other instruments for the payment of moneys due, and sign and endorse any invoices, freight or
express bills, bills of lading, storage or warehouse receipts, drafts against debtors, assignments, verifications, and notices in connection with any property of Credit Party; (b) effect any repairs to any asset of Credit Party, or continue or
obtain any insurance and pay all or any part of the premiums therefor and costs thereof, and make, settle and adjust all claims under such policies of insurance, and make all determinations and decisions with respect to such policies; (c) pay
or discharge any taxes, liens, security interests, or other encumbrances levied or placed on or threatened against Credit Party or its property; (d) defend any suit, action or proceeding brought against Credit Party if Credit Party does not
defend such suit, action or proceeding or if Attorney believes that Credit Party is not pursuing such defense in a manner that will maximize the recovery to Attorney, and settle, compromise or adjust any suit, action, or proceeding described above
and, in connection therewith, give such discharges or releases as Attorney may deem appropriate; (e) file or prosecute any claim, litigation, suit or proceeding in any court of competent jurisdiction or before any arbitrator, or take any other
action otherwise deemed appropriate by Attorney for the purpose of collecting any and all such moneys due to Credit Party whenever payable and to enforce any other right in respect of Credit Party’s property; (f) sell, transfer, pledge,
compromise payment or make any other agreement with respect to, or otherwise deal with any property of Credit Party, and execute, in connection with such sale or action, any endorsements, assignments or other instruments of conveyance or transfer in
connection therewith; and (g) cause the certified public accountants then engaged by Credit Party to prepare and deliver to Attorney at any time and from time to time, promptly upon Attorney’s request, the following reports: (l) a
reconciliation of all accounts; (2) an aging of all accounts; (3) trial balances; (4) test verifications of such accounts as Attorney may request, and (5) the results of each physical verification of inventory, all as though
Attorney were the absolute owner of the property of Credit Party for all purposes, and to do, at Attorney’s option and Credit Party’s expense, at any time or from time to time, all acts and other things that Attorney reasonably deems
necessary to perfect, preserve, or realize upon Credit Party’s property or assets and Attorney’s Liens thereon, all as fully and effectively as Credit Party might do. Credit Party hereby ratifies, to the extent permitted by law, all that
said attorneys shall lawfully do or cause to be done by virtue hereof. 

  
 62 

 IN WITNESS WHEREOF, this Power of Attorney is executed by Credit Party, and Credit Party has caused its seal
to be affixed pursuant to the authority of its Board of Directors (or equivalent thereof) on                     . 

 

									
	FVA VENTURES, INC.	 		  	ATTEST:	  	  

					
	By:	 	  
	 		  		  	
	Name:	 		  		  	
	Title:	 		  		  	

 Notarization in appropriate form for the state of execution is required 

  
 63 

 EXHIBIT E-1 - POWER OF
ATTORNEY 
 This Power of Attorney is executed and delivered by ViSalus Holdings, LLC, a Delaware limited liability company
(“Credit Party”), to Blyth VSH Acquisition Corporation, a Delaware corporation, (hereinafter referred to as “Attorney”), as Lender, under a Loan and Security Agreement dated as even date herewith (as amended, restated,
supplemented or otherwise modified from time to time, the “Agreement”; capitalized terms are used herein as defined in the Agreement) between ViSalus Holdings, LLC, FVA Ventures, Inc. and Attorney. No person to whom this Power of Attorney
is presented, as authority for Attorney to take any action or actions contemplated hereby, shall inquire into or seek confirmation from Credit Party as to the authority of Attorney to take any action described below, or as to the existence of or
fulfillment of any condition to this Power of Attorney, which is intended to grant to Attorney unconditionally the authority to take and perform the actions contemplated herein, and Credit Party irrevocably waives any right to commence any suit or
action, in law or equity, against any person or entity which acts in reliance upon or acknowledges the authority granted under this Power of Attorney. The power of attorney granted hereby is coupled with an interest, and may not be revoked or
canceled by Credit Party without Attorney’s written consent until payment in full of all Obligations due to Attorney under the Loan Documents. 
 Credit Party hereby irrevocably constitutes and appoints Attorney (and all officers, employees or agents designated by Attorney), with full power of substitution, as Credit Party’s true and lawful
attorney-in-fact with full irrevocable power and authority in the place and stead of Credit Party and in the name of Credit Party or in its own name, from time to time in Attorney’s discretion, to take any and all appropriate action and to
execute and deliver any and all documents and instruments which may be necessary or desirable to accomplish the purposes of the Loan Documents, in each case during the existence of an Event of Default, and, without limiting the generality of the
foregoing, Credit Party hereby grants to Attorney the power and right, on behalf of Credit Party, without notice to or assent by Credit Party, and at any time following the occurrence and continuance of an Event of Default, to do the following:
(a) change the address for delivery of mail, open mail for Credit Party, and ask, demand, collect, give acquittances and receipts for, take possession of, endorse and receive payment of, any checks, drafts, notes, acceptances, or other
instruments for the payment of moneys due, and sign and endorse any invoices, freight or express bills, bills of lading, storage or warehouse receipts, drafts against debtors, assignments, verifications, and notices in connection with any property
of Credit Party; (b) effect any repairs to any asset of Credit Party, or continue or obtain any insurance and pay all or any part of the premiums therefor and costs thereof, and make, settle and adjust all claims under such policies of
insurance, and make all determinations and decisions with respect to such policies; (c) pay or discharge any taxes, liens, security interests, or other encumbrances levied or placed on or threatened against Credit Party or its property;
(d) defend any suit, action or proceeding brought against Credit Party if Credit Party does not defend such suit, action or proceeding or if Attorney believes that Credit Party is not pursuing such defense in a manner that will maximize the
recovery to Attorney, and settle, compromise or adjust any suit, action, or proceeding described above and, in connection therewith, give such discharges or releases as Attorney may deem appropriate; (e) file or prosecute any claim, litigation,
suit or proceeding in any court of competent jurisdiction or before any arbitrator, or take any other action otherwise deemed appropriate by Attorney for the purpose of collecting any and all such moneys due to Credit Party whenever payable and to
enforce any other right in respect of Credit Party’s property; (f) sell, transfer, pledge, compromise payment or make any other agreement with respect to, or otherwise deal with any property of Credit Party, and execute, in connection with
such sale or action, any endorsements, assignments or other instruments of conveyance or transfer in connection therewith; and (g) cause the certified public accountants then engaged by Credit Party to prepare and deliver to Attorney at any
time and from time to time, promptly upon Attorney’s request, the following reports: (l) a reconciliation of all accounts; (2) an aging of all accounts; (3) trial balances; (4) test verifications of such accounts as Attorney
may request, and (5) the results of each physical verification of inventory, all as though Attorney were the absolute owner of the property of Credit Party for all purposes, and to do, at Attorney’s option and Credit Party’s expense,
at any time or from time to time, all acts and other things that Attorney reasonably deems necessary to perfect, preserve, or realize upon Credit Party’s property or assets and Attorney’s Liens thereon, all as fully and effectively as
Credit Party might do. Credit Party hereby ratifies, to the extent permitted by law, all that said attorneys shall lawfully do or cause to be done by virtue hereof. 

  
 64 

 IN WITNESS WHEREOF, this Power of Attorney is executed by Credit Party, and Credit Party has caused its seal
to be affixed pursuant to the authority of its Board of Directors (or equivalent thereof) on                     . 

 

									
	VISALUS HOLDINGS, LLC	 		  	ATTEST:	  	  

					
	By:	 	  
	 		  		  	
	Name:	 		  		  	
	Title:	 		  		  	

 Notarization in appropriate form for the state of execution is required 

  
 65 

 EXHIBIT F 
 Form of Certificate of Compliance 

 EXHIBIT F 
 FORM OF CERTIFICATE OF COMPLIANCE 
 [Use Borrower Letterhead with this Form]

 [Date] 
 To:
[                    ] 
 This is to certify
that in accordance with Section 4.1 (d) of the Loan and Security Agreement dated [July     ], 2008 (as amended, restated, supplemented or otherwise modified from time to time, the “Agreement”;
capitalized terms are used herein as defined in the Agreement) that the attached Financial Statements are complete and true and have been prepared in conformance with GAAP. In addition there are no Defaults or Events of Default continuing as of such
date [if there are exceptions, list them, together with the Borrower’s plan in respect thereof]. 
 Also attached are the covenant
calculations used in determining compliance with the financial covenants contained in Schedule D to the Agreement. 
  

			
	Very truly yours,
	
	FVA VENTURES, INC.
		
	By:	 	  

	Name:

			
	Title:	 	[Chief Executive Officer or Chief Financial Officer]

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