NU SKIN ENTERPRISES INC
NOTE PURCHASE AGREE PRUDENTIAL
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<TYPE>EX-10.3
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<FILENAME>ex10-3.htm
<DESCRIPTION>NOTE PURCHASE AGREE PRUDENTIAL
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<TITLE>2002 2Q Prudential Amendment</TITLE>
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<P><FONT FACE="Arial, Times, Serif" SIZE=2>May 1, 2002</Font></P>
<BR>

<P><FONT FACE="Arial, Times, Serif" SIZE=2><B>NU SKIN
ENTERPRISES, INC.</B><BR>
1 Nu Skin Plaza<BR>
75 West Centre Street<BR>
Provo, Utah  84601</FONT></P>

<P><FONT FACE="Arial, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;Re:&nbsp;&nbsp;&nbsp;&nbsp;<U>First Amendment to Note Purchase Agreement</U>
</FONT></P>

<P><FONT FACE="Arial, Times, Serif" SIZE=2>Ladies and Gentlemen:</FONT></P>

<P><FONT FACE="Arial, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reference
is made to the Note Purchase Agreement (the &#147;Agreement&#148;) dated October
12, 2000 between Nu Skin Enterprises, Inc. (the &#147;Company&#148;) and The
Prudential Insurance Company of America (&#147;Prudential&#148;). Capitalized
terms used and not otherwise delivered herein shall have the meanings provided
in the Agreement. </FONT></P>

<P><FONT FACE="Arial, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the request of the Company and Section 17 of the Agreement, Prudential and
the Company hereby agree that the defined term &#147;Material Subsidiaries&#148;
appearing in Schedule B of the Agreement shall be amended by deleting the
existing text of clause (b) thereof in its entirety and substituting therefor
the following: </FONT></P>

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<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Arial, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;(b)
each other Subsidiary of the Company which (i) had revenues during the four most
recently ended fiscal quarters equal to or greater than 5.0% of the consolidated
total revenues of the Company and its Subsidiaries during such period (provided
that if the Company and Subsidiaries collectively own not more than 30% of the
outstanding equity, by value, of Nu Skin Malaysia Holdings, then Nu Skin
Malaysia Holdings and its subsidiaries shall not be deemed Material Subsidiaries
by reason of this clause (i) unless their consolidated revenues during the four
most recently ended fiscal quarters equaled or exceeded 15.0% of the
consolidated total revenues of the Company and its Subsidiaries during such
period), or (ii) is an Obligor under any Guarantee with respect to the
Indebtedness of the Company under any Significant Credit Facility.&#148; </FONT>
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<P><FONT FACE="Arial, Times, Serif" SIZE=2><B>NU SKIN ENTERPRISES, INC.</B><BR>
May 1, 2002<BR>
Page 2</FONT></P>


<P><FONT FACE="Arial, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
order to induce Prudential to enter into this amendment, the Company has
represented and warranted that no Default or Event of Default exists under the
Agreement as of the date hereof. This amendment shall be effective when executed
on behalf of the Company and each Subsidiary Guarantor and an original
counterpart hereof has been delivered to Prudential. </FONT></P>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
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<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%><B>THE PRUDENTIAL INSURANCE<BR>COMPANY OF AMERICA</B></TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%>&nbsp;</TD>
</TR>

<TR VALIGN=TOP>
<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%>&nbsp;</TD>
</TR>

<TR VALIGN=TOP>
<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/&nbsp;&nbsp;Stephen J. DeMartini
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stephen J. DeMartini</TD>
</TR>

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<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%>Its:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vice President</TD>
</TR>

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<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%>&nbsp;</TD>
</TR>

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<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%>&nbsp;</TD>
</TR>

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<TD WIDTH=40%>Confirmed and agreed:</TD>
<TD WIDTH=60%>&nbsp;</TD>
</TR>

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<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%>&nbsp;</TD>
</TR>

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<TD WIDTH=40%><B>NU SKIN ENTERPRISES, INC.</B></TD>
<TD WIDTH=60%>&nbsp;</TD>
</TR>

<TR VALIGN=TOP>
<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%>&nbsp;</TD>
</TR>

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<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%>&nbsp;</TD>
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<TR VALIGN=TOP>
<TD WIDTH=40%>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/&nbsp;&nbsp;Truman Hunt
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Truman Hunt</TD>
<TD WIDTH=60%>&nbsp;</TD>
</TR>

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<TD WIDTH=40%>Its:&nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President and Chief Legal Counsel
</TD>
<TD WIDTH=60%>&nbsp;</TD>
</TR>

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<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%>&nbsp;</TD>
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<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%>&nbsp;</TD>
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<TD WIDTH=40%>The undersigned Subsidiary Guarantors<BR>
hereby consent to the foregoing.</TD>
<TD WIDTH=60%>&nbsp;</TD>
</TR>

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<TD WIDTH=40%>&nbsp;</TD>
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<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%>&nbsp;</TD>
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<TD WIDTH=40%><B>NU SKIN HONG KONG, INC.<BR>
NU SKIN INTERNATIONAL, INC.<BR>
NU SKIN TAIWAN, INC.<BR>
NU SKIN UNITED STATES, INC.</B></TD>
<TD WIDTH=60%>&nbsp;</TD>
</TR>


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<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%>&nbsp;</TD>
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<TD WIDTH=40%>&nbsp;</TD>
<TD WIDTH=60%>&nbsp;</TD>
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<TR VALIGN=TOP>
<TD WIDTH=40%>By:&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/&nbsp;&nbsp;Corey B. Lindley
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Name:&nbsp;&nbsp;Corey B. Lindley
<BR>
Title:&nbsp;&nbsp;Executive Vice President and Chief Financial Officer
</TD>
<TD WIDTH=60%>&nbsp;</TD>
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