Document:

Amended and Restated 2000 Stock Option Plan

 EXHIBIT 10.6 
  
 AMENDMENT TO 
  
 THE MANNATECH, INCORPORATED 
  
 2000 INCENTIVE STOCK OPTION PLAN 
  
 Effective as of August 7, 2003 
  
 The undersigned, constituting all members of the Board of Directors (“Board”) of Mannatech, Incorporated, a Texas corporation (the
“Company”), hereby approve, adopt, and consent to the adoption of the following resolutions by unanimous written consent without a meeting pursuant to the provisions of Article 9.10(B) of the Texas Business Corporation Act:

  
 WHEREAS, the Company maintains a plan
known as the Mannatech, Incorporated 2000 Incentive Stock Option Plan (the “Plan”), which, by its terms, is subject to amendment by action of the Board; 
  
 WHEREAS, the Board has determined that it is in the best interests of the Company and the Plan
participants to amend the Plan; 
  
 NOW,
THEREFORE, BE IT HEREBY: 
  
 RESOLVED,
that Section 4(a) of the Plan shall be amended to read as follows in its entirety: 
  
 “(a) Procedure. The Plan shall be administered by the Board of the Company or the Board may appoint a Committee consisting of not less than two members of the Board of Directors to administer the Plan on
behalf of the Board, subject to such terms and conditions as the Board may prescribe. To the extent that the Board appoints a Committee to administer the Plan, each member of the Board of Directors who is selected to serve on the Committee shall be
a “Non-Employee Director” within the meaning of Rule 16b-3 under the Securities Exchange Act of 1934 and an “outside director” within the meaning of the regulations adopted under Section 162(m) of the Code. Once appointed, the
Committee shall continue to serve until otherwise directed by the Board. From time to time, the Board may increase the size of the Committee and appoint new members in substitution, fill vacancies caused, or remove all members of the Committee and
thereafter directly administer the Plan.” 
  
 RESOLVED FURTHER, that Section 4(b) of the Plan shall be amended as follows beginning at (x): 
  
 “... (x) to administer and interpret the option agreement; (xi) to make determinations as to whether a bona fide leave shall be deemed to
continue, to the extent that applicable law does not require that it be deemed to continue; and (xii) 
  

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 to make all other determinations deemed necessary or advisable for the administration of the Plan.”

  
 RESOLVED FURTHER, that a new Section
5(c) shall be added to the Plan as follows: 
  
 “(c) No
individual may receive Options under this Plan during any calendar year for more than 500,000 shares of the Company’s stock.” 
  
 RESOLVED FURTHER, that the first sentence of Section 7 of the Plan shall be amended to read as follows: 
  
 “Each Option shall terminate and is no longer exercisable after 5:00
p.m. on the day immediately preceding the ten (10) year anniversary of the date of its grant, except if terminated earlier as provided in the Stock Option Agreement.” 
  
 RESOLVED FURTHER, that Section 8(c) of the Plan shall be amended to read as follows: 
  
 “(c) An option may be exercised, in whole or in part, to the extent
exercisable, by giving written notice prior to its expiration to the Chief Financial Officer of the Company in the form specified by the Committee, accompanied by payment of the option price. In addition to the option price the optionee will be
required to include payment of all federal, state, local or other income excise or employment taxes subject to withholding (if any) by the Company, a parent or subsidiary as a result of the exercise of this option (collectively, the “Exercise
Price”) for the total number of shares specified for purchase. The Exercise Price payment shall be payable in full by cash or check. Alternatively, in the sole discretion of the Committee and upon such terms as the Committee shall approve, the
option may provide that the Exercise Price may be paid by: 
  
 (1) Cashless Exercise. During any period for which the shares are publicly traded (i.e., the shares are listed on any established stock exchange or a national market system, including without limitation the Nasdaq
National Market, or if the shares are quoted on the Nasdaq System (but not on the Nasdaq National Market) or any similar system whereby the stock is regularly quoted by a recognized securities dealer but closing sale prices are not reported), by a
copy of instructions to a broker directing such broker to sell the shares for which this option is exercised, and to remit to the Company the aggregate Exercise Price of such option (“Cashless Exercise”); provided, however, a Cashless
Exercise by a Director or executive officer that involves or may involve a direct or indirect extension of credit or arrangement of an extension of credit by the Company, a parent or subsidiary in violation of section 402(a) of the Sarbanes-Oxley
Act (codified as Section 13(k) of the Securities Exchange Act of 1934, 15 U.S.C. § 78m(k)) shall be prohibited; 
  

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 (2) (unless prohibited by the Committee) certificates representing shares of Common Stock of the
Company, which will be valued by the Company at the closing fair market price per share of the Company’s Common Stock on the date of exercise of such certificates to the Company, accompanied by an assignment of the stock to the Company,
provided that such shares have been held and owned by the optionee for at least six (6) prior months; or 
  
 (3) (unless prohibited by the Committee) any combination of cash and Common Stock of the Company valued and subject to the restrictions as provided in
clause (2). Any assignment of stock shall be in a form and substance satisfactory to the Secretary of the Company, including guarantees of signature(s) and payment of all transfer taxes if the Secretary deems such guarantees necessary or desirable.
“ 
  
 RESOLVED FURTHER, that a new
Section 8(d) of the Plan shall be incorporated as follows: 
  
 “(d) Under Section 422(d) of the Code, to the extent that the aggregate fair market value of stock with respect to which incentive stock options are exercisable for the first time by the undersigned during any calendar year (under all
incentive stock option plans of the Company, a parent or subsidiaries) exceeds $100,000.00, such options shall be treated as options which are not incentive stock options, but shall be exercisable by their terms. Where more than one option that has
been designated as an incentive stock option, the determination of which options are to be treated as incentive stock options shall be based on the order in which such options were granted. If the $100,000 annual limitation is first exceeded as the
result of the option covered by this agreement, upon each exercise of this option, that fraction of shares of Common Stock covered by such exercise, equal to (i) the amount by which the grant of this option causes the $100,000 annual limitation to
be exceeded, divided by (ii) the aggregate fair market value of this option, determined as provided above, shall be treated as shares acquired upon exercise of options which are not incentive stock options, and the balance shall be treated as shares
acquired upon exercise of an incentive stock option.” 
  
 RESOLVED FURTHER, that the first sentence of the third paragraph of Section 9(a) of the Plan, beginning “An Option shall be deemed...” shall be deleted and replaced with the following language:

  
 “An Option may be exercised in whole or in part prior to
its expiration at the time or times specified in the vesting schedule contained in the Stock Option Agreement. An Option shall be deemed to be exercised, in whole or in part, when written notice of such exercise has been given to the Chief Financial
Officer of the Company prior to its expiration, in accordance with the terms of the Option, by the person entitled to exercise the Option, and full payment (including any 
  

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 applicable withholding amounts) for the Shares with respect to which the Option is exercised has been
received by the Company.” 
  
 RESOLVED
FURTHER, that the following three new paragraphs shall be added to the end of Section 9(b) of the Plan: 
  
 “An Employee who is employed by an employer that is a subsidiary of the Company, will be considered to have terminated Employee
status in the event that the employer ceases to be a subsidiary of the Company. 
  
 Service shall be deemed to continue while Employee is on a bona fide leave of absence, to the extent required by applicable law. To the
extent applicable law does not require such a leave to be deemed to continue while on a bona fide leave of absence, such bona fide leave of absence shall be deemed to continue if, and only if, expressly provided in writing by the Committee or a duly
authorized officer of the Company, parent or subsidiary for whom Employee provides services. 
  
 Outstanding options that are not exercisable at the time of termination of service for any reason shall expire at the close of business on
the date of such termination.” 
  
 RESOLVED FURTHER, that the provision in the first paragraph of Section 11 of the Plan beginning with “shall be proportionately adjusted” and ending with “or any other increase or decrease in the number of issued shares
of Common Stock effected without receipt of consideration by the Company” shall be amended to read as follows: 
  
 “...shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock split,
reverse stock split, stock dividend, combination or reclassification of Common Stock, re-capitalization, or any other increase or decrease in the number of issued shares of Common Stock effected without receipt of consideration by the Company
...” 
  
 RESOLVED FURTHER, that
the last sentence of the second paragraph of Section 11 of the Plan shall be deleted and replaced with the following language: 
  
 “In the event of any recapitalization, merger, consolidation, transfer of assets, reorganization, conversion or what the Committee deems in its sole
discretion to be a similar transaction or circumstance, where the Company is not the surviving entity, if this option is cancelled without substitution of a successor option or payment of alternative consideration that the Committee determines in
good faith to be equitable under the circumstances, Optionee shall have the right, exercisable during the later of the ten-day period ending on the fifth day prior to such transaction or ten days after the Committee provides Optionee with a notice
of cancellation, to exercise this option in whole or in part without regard to any installment exercise provisions in the Stock Option Agreement.” 
  

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 RESOLVED FURTHER, that a new paragraph shall be added at the end of Section 14 of
the Plan as follows: 
  
 “The Company may,
but shall not be obligated to, register or qualify the sale of shares under the Securities Act of 1933 or any other applicable law. The Company shall not be obligated to take any affirmative action in order to cause the sale of shares under this
agreement to comply with any law.” 
  
 The foregoing
amendments shall be effective with respect to options granted after the effective date first specified above. 
  
  

 5Lock up Agreement

 EHIBIT 10.7 
  

LOCK-UP AGREEMENT 
  
 This Lock (“Agreement”) is made and effective this 6th day of November, 2003 by and between Mannatech, Incorporated (“Company”), a Texas corporation with its principal place of business located at 600 S. Royal Lane, Suite 200, Coppell, Texas
75019 and Stan Fredrick (“Fredrick”) whose principal address is 3509 Wingren, Irving, Texas 75062. 
  
 WITNESSETH: 
  
 WHEREAS, Company is in the business of operating a network marketing company which sells a proprietary line of dietary supplements, cosmetics and over-the-counter products (“Products”) and which compensates its distributors
(“Associates”) by a defined compensation plan in the United States, Canada, Australia, New Zealand, Japan and the United Kingdom; 
  
 WHEREAS, Fredrick or a trust controlled by him owns certain shares of Common Stock of the Company (“Shares)”; 

 
 WHEREAS, the Parties hereto desire to restrict the sale,
assignment, transfer, encumbrance or other disposition of the Shares subject to the terms and conditions of this Agreement; 
  
 WHEREAS, Fredrick has agreed to certain restrictions on the sale of Shares subject to the terms and conditions of this Agreement; 
  
 WHEREAS, Company intends to enter into a confidential relationship
with Fredrick whereby Fredrick will acquire an intimate knowledge and access to Company’s business and will obtain or has obtained specialized skills. Company will permit Fredrick to have access to and to utilize the business goodwill, cost and
pricing information, Confidential Information (as defined herein) and various trade secrets of Company, including without limitation, marketing programs, business relationships, customer lists, business plans, financial data, privileged legal
information and other compilations of information developed by Company and essential to its business; and 
  
 NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and upon the terms, conditions and provisions hereinafter
set forth, Company and Fredrick do hereby agree as follows: 
  
 ARTICLE I. 
 DUTIES AND COMPENSATION 
  

	1.1	Term. The term of this Agreement, unless otherwise modified in writing, is for a two (2) year calendar period, beginning June 15, 2003 and ending June 15, 2005 (the
“Term”). The Term shall be extended automatically for an additional successive one (1) calendar year period as of each anniversary of the effective date after the initial term; provided however, that if either party shall
give written notice to the other at least thirty days prior to such anniversary, then no such automatic extension shall occur and Fredrick’s obligations under this Agreement shall terminate on the day prior to such anniversary. 

  

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	1.2	Compensation. In exchange for the Share restrictions and other obligations as set forth herein, the Company agrees to pay Fredrick $185,000 annually payable on a
monthly basis in equal installments. 

  

	1.3	Independent Contractor. The Parties agree that this Agreement shall not be considered an employment agreement nor is it an offer for employment. Fredrick will not be
eligible for any employee benefits, nor will Company make deductions from payments to Fredrick for taxes, insurance, bonds or the like. 

  
 ARTICLE II 
 LOCK-UP AGREEMENT

  

	2.1	Lock-Up Period. Except as contemplated in this Agreement (the “Lock-Up Period”), Fredrick hereby agrees during the term of this Agreement, that
he will not offer, sell, assign, pledge, transfer, hypothecate, contract to sell, grant any option for the sale of or otherwise dispose of, directly or indirectly, and except to a family member or family controlled trust, upon prior written
notification to the Company, any of the Shares or securities convertible into or exchangeable or exercisable for any shares of common stock, enter into a transaction which would have the same effect, or enter into any swap, hedge or other
arrangement that transfers, in whole or in part, any of the economic consequences of ownership of the Shares, whether any such aforementioned transaction is to be settled by delivery of the Shares or such other securities, in cash or otherwise, or
publicly disclose the intention to make any such offer, sale, pledge or disposition, or to enter into any such transaction, swap, hedge or other arrangement, without, in each case, the prior written consent of Company. Any securities received upon
exercise of options granted to Fredrick will also be subject to the provisions set forth in this Article II. Fredrick agrees and consents to the entry and stop transfer instructions with Company’s transfer agent against any transfer of shares
of common stock held directly or indirectly by Fredrick not in compliance with this Agreement. 

  

	2.2.	Extended Lock-Up. The Lock-Up shall be extended so long as the Company continues to pay Fredrick in accordance with Section 1.2 hereof or until the Company makes a
secondary offering of its common stock. 

  
 ARTICLE III. 
 CONFIDENTIAL INFORMATION 
  

	3.1	Prior to and during the course of the Agreement, Fredrick will be given access to Company’s Confidential Information concerning Products and the business operations of Company.

  

	3.2	Fredrick acknowledges that in the further course of the Agreement with Company, Fredrick will gain a close, personal and special influence with Company’s customers and will be
acquainted with all of Company’s business, particularly Company’s Confidential Information concerning the business of Company and its affiliates. 

  

	3.3	For purposes of this Agreement “Confidential Information” shall mean and include information disclosed to Fredrick or known by Fredrick, not generally known in

  

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 Company’s industry, or otherwise known to Fredrick or received from a source other than the Company
about Company’s products, processes and services, including but not limited to information concerning inventions, trade secrets, research and development, as well as all data or information concerning customers (including, Associates), customer
lists (including downline reports and similar reports of business activities and relevant information concerning persons who conduct the same), prospect lists, mailing lists, sales leads, contracts, financial reports, sales, purchasing, price lists,
product costs, marketing programs, marketing plans, business relationships, business methods, accounts payable, accounts receivable, accounting procedures, control procedures and training materials. 
  

	3.4	Fredrick recognizes that his position with Company is one of the highest trust and confidence by reason of Fredrick’s access to the Confidential Information and Fredrick agrees
to use his best efforts and will exercise utmost diligence to protect and safeguard the Confidential Information. In this respect, Fredrick agrees that fulfilling the obligations of this Article III constitutes valuable consideration for which the
Company has agreed to make such Confidential Information known to him. 

  

	3.5	Except as may be required by Company in connection with and during the Agreement with Company, or with the express written permission of Company, Fredrick shall not, directly or
indirectly, download, print out, copy, remove from the premises of Company, use for his own benefit or for the benefit of another, or disclose to another, any Confidential Information of Company, its customers, contractors, or any other person or
entity with which Company has a business relationship. 

  

	3.6	Fredrick agrees that all files, memoranda, data, notes, records, drawings, charts, graphs, analyses, letters, reports or other documents or similar items made or compiled by
Fredrick, made available to him or otherwise coming into his possession during the Agreement concerning any process, apparatus or products manufactured, sold, used, developed, investigated or considered by Company concerning the Confidential
Information or concerning any other business or activity of Company shall remain at all times the property of Company and shall be delivered to Company upon termination of this Agreement or at any other time upon request. 

 

	3.7	Fredrick agrees that during the term of this Agreement or upon termination thereof, and if requested by Company to do so, he will sign an appropriate list of any and all
Confidential Information of Company of which he has knowledge about or which he has acquired information. 

  

	3.8	Fredrick acknowledges that the violation of any of the provisions of this Section 3 will cause irreparable loss and harm to Company which cannot be reasonably or adequately
compensated by damages in an action at law, and accordingly, Company will be entitled, without posting bond or other security, to injunctive and other equitable relief to enforce the provisions of this Section 3; but no action for any such relief
shall be deemed to waive the right of Company to an action for damages. 

  

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 ARTICLE IV 
 TERMINATION 
  
 This Agreement shall
become null and void, and no further payment obligations shall become due upon the death of Fredrick. 
  
 ARTICLE V 
 MISCELLANEOUS 
  

	5.1	Enforcement. It is the express intention of the Parties to this Agreement to comply with all laws applicable to the covenants and provisions contained in this
Agreement. If any of the covenants contained in this Agreement are found to exceed in duration or scope permitted by law, it is expressly agreed that such covenant may be reformed or modified by the award or decree of an arbitrator, if applicable
(“Reformation”). The Reformation shall be governed by a final judgment of a court of competent jurisdiction or other lawful constituted authority, as the case may be, to reflect a lawful and
enforceable duration or scope, and such covenant automatically shall be deemed to be amended and modified so as to comply. If any one or more of the provisions contained herein shall for any reason be held invalid, illegal or unenforceable in any
respect, even after formation, such invalidity, illegality or unenforceability shall not affect the enforceability or validity of any other provision contained in this Agreement, and this Agreement shall be construed as if such invalid, illegal or
unenforceable provision had never been contained herein. 

  

	5.2	Adequacy of Consideration; Separate Agreements. Fredrick agrees that the Lock-Up agreements and Confidentiality agreements set forth herein each constitute separate
agreements, independently supported by good and adequate consideration and shall be severable from the other provisions of this Agreement and shall survive the termination thereof. 

	

	5.3	Representation and Warranties. Fredrick represents and warrants that: 

  

	 	5.3.1	He has no obligations, legal or otherwise, inconsistent with the terms of this Agreement or with his undertaking this relationship with Company; 

  

	 	5.3.2	With respect to Article II hereof, all of the shares of Shares held by Fredrick are Shares free and clear of any claims, liens, encumbrances, pledges, security interests or other
arrangements or restriction whatsoever, except for such legend and related transfer restrictions as required under the Securities Act of 1933, as amended; 

  

	 	5.3.3	The performance of the this Agreement does not and will not violate any applicable law, rule or regulation or any proprietary or other right of any third party;

  

	 	5.3.4	Fredrick has not entered into or will enter into any agreement (whether oral or written) in conflict with this Agreement except those enterprises otherwise disclosed herein.

  

	5.4	Agreement to Perform Necessary Acts. Fredrick agrees to perform any further acts and execute and deliver any documents that may be reasonably necessary to carry out
the provisions of this Agreement. 

  

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	5.5	Injunctive Relief. Fredrick recognizes and acknowledges that damages in the event of his breach of certain provisions of this Agreement would be inadequate, and
Fredrick agrees that Company, in addition to all other remedies it may have, shall have the right to injunctive relief via arbitration if there is a breach by Fredrick of any one or more of the provisions contained herein. 

 

	5.6	Arbitration. Arbitration, including the right to invoke injunctive relief and any emergency relief or measures provided for, shall be the exclusive remedy for any and
all disputes, claims or controversies, whether statutory, contractual or otherwise, between Company and Fredrick concerning the Agreement or the termination thereof. In the event either party provides a Notice of Arbitration of Dispute to the other
party, Company and Fredrick agree to submit such dispute or controversy, whether statutory or otherwise, to an arbitrator or arbitrators selected from a panel of arbitrators of the American Arbitration Association located in Dallas, Texas. The
effective rules at the time of the commencement of the Commercial Arbitration of the American Arbitration Association shall control the arbitration. In any arbitration proceeding conducted subject to these provisions, the arbitrator(s) is/are
specifically empowered to decide any question pertaining to limitations, and may do so by documents or by a hearing, in his or her sole discretion. In this regard, the arbitrator may authorize the submission of pre-hearing motions similar to a
motion to dismiss or for summary adjudication for the purposes of consideration in this matter. The arbitrator’s decision will be final and binding upon the Parties. The Parties further agree to abide by and perform any award rendered by the
arbitrator. Each party in such proceeding shall pay its own attorney’s fees. In rendering the award, the arbitrator shall state the reasons therefor, including any computations of actual damages or offsets, if applicable.

  

	5.7	Notices. Notices required to be given under this Agreement shall be in writing and shall be deemed to have been given and received when personally delivered, or when
mailed by registered or certified mail, postage prepaid, return receipt requested, or when sent by overnight delivery service to the address as first written above. 

  

	5.8	No Agency. This Agreement does not constitute a joint venture or partnership of any kind between Company and Fredrick. 

  

	5.9	Assignment. In the event Fredrick assigns the Shares to a family member or trust (“Assignee”) as contemplated in Section 2.1, the Assignee, its successors,
representatives and assigns, whether individually and/or collectively, shall be bound by all of the terms and conditions of this Agreement. 

  

	5.10	Waiver. A waiver by either party of any term or condition of this Agreement in any instance shall not be deemed or construed to be a waiver of such term or condition
for the future, or any breach of such term or condition. 

  

	5.11	Authority. The Parties represent that they have full capacity and authority to grant all rights and assume all obligations they have granted and assumed under this
Agreement. 

  

	5.12	Captions. The headings of the sections in this Agreement are intended solely for convenience of reference and are not intended and shall not be deemed for any purpose
whatsoever to modify or explain or place constriction upon any of the provisions of this Agreement. 

  

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	5.13	Governing Law. The Parties hereto agree that this Agreement shall be governed by the laws of the State of Texas without regard to the conflicts of law principles. The
Parties further agree that exclusive jurisdiction and venue to enforce the arbitration provisions of this agreement shall be in a state or federal court of appropriate jurisdiction in Dallas County, Texas. Each party consents to personal
jurisdiction in Dallas County, Texas, for any action to enforce arbitration including any further rules provided for emergency or extraordinary relief, as to this Agreement. 

  

	5.14	Disclosure. Each of the Parties agree to keep confidential the specific terms of this Agreement, and shall not disclose the terms of this Agreement to any person
except the financial, tax and legal advisors of the other (and the Board of Directors of Company) unless required to disclose the same to others by legal process, in which event the Party so ordered shall first give notice to the other Party and an
opportunity to seek a protective order. This Agreement may be disclosed or appended as an exhibit to any securities filing required to be made by Company. However, after having been so disclosed or appended, Fredrick shall have no further duty of
confidentiality concerning this Agreement, as set forth in this paragraph. 

  

	5.15	Approvals and Consents. This Agreement is subject to the approval of the Board of Directors and the Compensation Committee of Company. 

  

	5.16	Acknowledgement. Fredrick affirms and attests by signing this Agreement that he has read this Agreement before signing it and that he fully understands its purposes,
terms, and provisions, which he hereby expressly acknowledges to be reasonable in all respects. Fredrick further acknowledges receipt of one (1) copy of this Agreement. 

  

	5.17	Counterparts. This Agreement may be executed in multiple counterparts, any one of which will be deemed an original, but all of which will constitute one and the same
instrument. 

  
 IN WITNESS WHEREOF, this Agreement is
executed by the Parties hereto, effective as of the 6th day of November, 2003. 
  
 /s/ J. Stanley Fredrick             

 J. Stanley Fredrick 
  
 COMPANY: 
 MANNATECH, INCORPORATED

 A Texas Corporation 
  
 By: /s/ Samuel L. Caster             

 Samuel L. Caster 
 Its: Chairman & CEO 
  

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