HERBALIFE LTD. INDEPENDENT DIRECTORS STOCK UNIT AWARD AGREEMENTIndependent Directors Stock Unit Award Agreement • January 6th, 2006 • Herbalife Ltd. • Wholesale-drugs, proprietaries & druggists' sundries
This Independent Directors Stock Unit Award Agreement (this “Agreement”) is dated as of this day of January, 2006 (the “Grant Date”), and is between Herbalife Ltd. (the “Company”) and (“Participant”). WHEREAS, the Company, by action of the Board and approval of its shareholders established the Herbalife Ltd. 2005 Stock Incentive Plan (the “Plan”); WHEREAS, the Company, by action of the Board established the Herbalife Ltd. Independent Directors Deferred Compensation and Stock Unit Plan (the “Independent Directors Plan”); WHEREAS, the Board has determined that Participant is an independent director of the Company and the Company desires to encourage Participant to own Common Shares for the purposes stated in Section 1 of the Plan and the Independent Directors Plan; WHEREAS, Participant and the Company have entered into this Agreement to govern the terms of the Stock Unit Award (as defined below) granted to Participant by the Company. NOW, THEREFORE, in consideration of the fore
