AMENDMENT NO. 2 TO STOCK OPTION AGREEMENT
This Amendment No. 2 (this “Amendment”) dated as of November 18, 2002 to that certain Stock Option
Agreement (the “Stock Option Agreement”), dated as of January 18, 2001, and amended as of October 14,
2002, by and between Natural Health Trends Corp., a Florida corporation the (“Company”), and Terry L.
LaCore (the “Optionee”).
W I T N E S S E T H :
WHEREAS, the Company and Optionee are parties to the Stock Option Agreement, as amended, a copy
of which is attached hereto as Exhibit A; and
WHEREAS, the parties to the Stock Option Agreement desire to amend the Stock Option Agreement to
amend the cashless exercise provision contained therein.
NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the receipt
and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
1. Effective as of the date hereof, the Stock Option Agreement is hereby amended by deleting the following
phrase contained in the first sentence of Section 4:
“the Optionee may, at its election”
and in lieu thereof the following phrase shall be inserted:
“the Company may, at its election, permit the Optionee to”.
2. This Amendment shall be governed by and construed in accordance with the laws of the State of Texas,
without regard to principles of conflicts of law.
3. Except as otherwise specifically set forth herein, all of the terms and provisions of the Stock Option
Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the day first above
NATURAL HEALTH TRENDS CORP.
By: /s/ Mark D. Woodburn
Name: MARK D. WOODBURN
By: /s/ Terry L. LaCore
Name: Terry L. Lacore
AMENDMENT NO. 1 TO STOCK OPTION AGREEMENT