SEC Contract Filing

Filing Date: 2018-02-22

Document Content:
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<TYPE>EX-10.47
<SEQUENCE>3
<FILENAME>hlf-ex1047_809.htm
<DESCRIPTION>EX-10.47
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.47</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">HERBALIFE LTD.<br />2014 STOCK INCENTIVE PLAN</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">STOCK APPRECIATION RIGHT AWARD AGREEMENT</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">STOCK APPRECIATION RIGHT AGREEMENT (this &#8220;<font style="text-decoration:underline;">Agreement</font>&#8221;) dated <font style="font-weight:bold;">&lt;DATE&gt; </font> (the &#8220;<font style="text-decoration:underline;">Grant Date</font>&#8221;) between HERBALIFE LTD. (the &#8220;<font style="text-decoration:underline;">Company</font>&#8221;), and <font style="font-weight:bold;">&lt;NAME&gt; </font>(&#8220;<font style="text-decoration:underline;">Participant</font>&#8221;).</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, pursuant to the Herbalife Ltd. 2014 Stock Incentive Plan as it may be amended and/or restated from time to time (the &#8220;<font style="text-decoration:underline;">Plan</font>&#8221;), the Committee designated under the Plan (or an officer of the Company to who the authority to grant Awards has been delegated), desires to grant to Participant an award of stock appreciation rights; and </p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, Participant desires to accept such award subject to the terms and conditions of this Agreement.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements contained herein, the Company and Participant, intending to be legally bound, hereby agree as follows:</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Grant</font>.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="OLE_LINK2"></a>(a)<font style="margin-left:36pt;"></font>The Company hereby grants to the Participant an Award of <font style="font-weight:bold;">&lt;UNITS&gt; </font>Stock Appreciation Rights (the &#8220;<font style="text-decoration:underline;">Award</font>&#8221;) in accordance with Section&#160;9 of the Plan and subject to the terms and conditions set forth herein and in the Plan.&nbsp;&nbsp;Each Stock Appreciation Right represents the right to receive, upon exercise of the Stock Appreciation Right pursuant to this Agreement, from the Company, a payment, paid in Common Shares, par value $.001 per share, of the Company (the &#8220;<font style="text-decoration:underline;">Common Shares</font>&#8221;), equal to (i)&#160;the excess of the Fair Market Value, on the date of exercise, of one Common Share (as adjusted from time to time pursuant to Section 15 of the Plan) over the Base Price (as defined below) of the Stock Appreciation Right, divided by (ii)&#160;the Fair Market Value, on the date of exercise, of one Common Share, subject to terms and conditions set forth herein and in the Plan.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(b)<font style="margin-left:36pt;"></font>The &#8220;<font style="text-decoration:underline;">Base Price</font>&#8221; for the Stock Appreciation Right shall be <font style="font-weight:bold;">$____</font> per share (subject to adjustment as set forth in Section&#160;15 of the Plan).&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(c)<font style="margin-left:36pt;"></font>Except as otherwise defined herein, capitalized terms used herein shall have the meanings set forth in the Plan.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.<font style="margin-left:36pt;"></font><font style="text-de