-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 UF6CatgrdH91Ql07Gvz9KHK4S8ozFanbPntYrKqXUsZFk65bBxZvCpdmH2XcyA1C
 AsF+UhJFizV0QuZPrmQCgg==

<SEC-DOCUMENT>0000950134-07-004128.txt : 20070226
<SEC-HEADER>0000950134-07-004128.hdr.sgml : 20070226
<ACCEPTANCE-DATETIME>20070226165931
ACCESSION NUMBER:		0000950134-07-004128
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20070221
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Termination of a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070226
DATE AS OF CHANGE:		20070226

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATURAL HEALTH TRENDS CORP
		CENTRAL INDEX KEY:			0000912061
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-MISCELLANEOUS NONDURABLE GOODS [5190]
		IRS NUMBER:				592705336
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26272
		FILM NUMBER:		07649873

	BUSINESS ADDRESS:	
		STREET 1:		2050 DIPLOMAT DRIVE
		STREET 2:		--
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
		BUSINESS PHONE:		972-241-4080

	MAIL ADDRESS:	
		STREET 1:		2050 DIPLOMAT DRIVE
		STREET 2:		--
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d44025e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 OR 15(d) of The Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of earliest event reported) <U>February&nbsp;21, 2007</U></B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B><FONT style="border-bottom: 1px solid #000000">NATURAL HEALTH TRENDS CORP.</FONT></B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of Company as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Delaware
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0-26272
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">59-2705336</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">IRS Employer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">2050 Diplomat Drive &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dallas, TX
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">75234</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">Company&#146;s
telephone number, including area code <u>(972)&nbsp;241-4080</u>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt">(Former name or former address, if changed since last report.)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the Company under any of the following provisions
(see General Instruction A.2. below):
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR
230.425)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR
240.14a-12)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">










<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">Item&nbsp;1.01 Entry into a Material Definitive Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">Item&nbsp;1.02 Termination of a Material Definitive Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">Item&nbsp;8.01 Other Events</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">Item&nbsp;9.01 Financial Statements and Exhibits</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="d44025exv10w1.htm">Severance Agreement - Stephanie Hayano</A></TD></TR>
<TR><TD colspan="9"><A HREF="d44025exv10w2.htm">Severance Agreement - Gernot Senke</A></TD></TR>
<TR><TD colspan="9"><A HREF="d44025exv99w1.htm">Press Release</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link1 "Item&nbsp;1.01 Entry into a Material Definitive Agreement" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement</B>
</DIV>

<!-- link1 "Item&nbsp;1.02 Termination of a Material Definitive Agreement" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt"><B>Item&nbsp;1.02 Termination of a Material Definitive Agreement</B></DIV>


<!-- link1 "Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt"><B>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</B></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On July&nbsp;31, 2006, Natural Health Trends Corp. (the &#147;Company&#148;) entered into an employment letter
agreement with Stephanie Hayano pursuant to which Ms.&nbsp;Hayano agreed to serve as the President and
Chief Executive Officer of the Company and to serve on the Company&#146;s Board of Directors. Effective
February&nbsp;21, 2007, Ms.&nbsp;Hayano resigned as the Company&#146;s President and Chief Executive Officer and
as a member of the Company&#146;s Board of Directors. In exchange for a general release of all claims
against the Company, the Company agreed to (i)&nbsp;continue to pay Ms.&nbsp;Hayano&#146;s salary for a period of
12&nbsp;months, less any amounts paid, due or promised to her as compensation from third parties during
that period, (ii)&nbsp;pay her the $62,500 bonus for fiscal year 2006 due to her under the employment
letter agreement with the Company, and (iii)&nbsp;give her a limited release of claims arising from or
related to facts within the knowledge of the Company&#146;s Board of Directors, executive management, or
general counsel.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On January&nbsp;3, 2007, the Company entered into a letter agreement with Gernot Senke pursuant to which
Mr.&nbsp;Senke agreed to serve as the Chief Operating Officer of the Company commencing on February&nbsp;12,
2007. Effective February&nbsp;21, 2007, Mr.&nbsp;Senke resigned as the Chief Operating Officer. In exchange
for a general release of all claims against the Company, the Company has agreed to pay severance to
Mr.&nbsp;Senke for up to twelve months.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On February&nbsp;21, 2007, the Board of Directors appointed (i)&nbsp;Chris Sharng, previously Executive Vice
President and Senior Financial Officer, to the position of President of the Company and (ii)
Timothy S. Davidson, previously Chief Accounting Officer, to the position of Senior Vice President,
Chief Financial Officer, and Principal Financial and Accounting Officer. Curtis Broome, President
of NHT Global overseeing all of the Company&#146;s markets, is designated as an executive officer of the
Company.
</DIV>

<!-- link1 "Item&nbsp;8.01 Other Events" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8.01 Other Events</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On February&nbsp;19, 2007, the Company accepted the resignations of Colin J. O&#146;Brien and Terrence M.
Morris from the Company&#146;s Board of Directors. The Company is actively seeking new directors to
fill the recent vacancies on its Board of Directors. The Company also engaged Mr.&nbsp;Morris as a
consultant to assist the Company with general business matters through December&nbsp;31, 2007 at a
monthly cost of $3,500 per month.
</DIV>

<!-- link1 "Item&nbsp;9.01 Financial Statements and Exhibits" -->
<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exhibits</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">10.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Severance Agreement between Natural Health Trends Corp. and Stephanie Hayano
dated as of February&nbsp;21, 2007.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">10.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Severance Agreement between Natural Health Trends Corp. and Gernot Senke dated as
of February&nbsp;21, 2007.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">99.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Press release of the Company dated February&nbsp;26, 2007.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<!-- link1 "SIGNATURES " -->
<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has
duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="36%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>NATURAL HEALTH TRENDS CORP.</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: February&nbsp;26, 2007</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Chris Sharng</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name: Chris Sharng</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: President</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "EXHIBIT INDEX " -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Severance Agreement between Natural Health Trends Corp. and Stephanie Hayano
dated as of February&nbsp;21, 2007.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Severance Agreement between Natural Health Trends Corp. and Gernot Senke dated as
of February&nbsp;21, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release of the Company dated
February&nbsp;26, 2007.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d44025exv10w1.htm
<DESCRIPTION>SEVERANCE AGREEMENT - STEPHANIE HAYANO
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit
10.1</B></DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="19%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">STATE OF TEXAS
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">)</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="center"><B>SEVERANCE AGREEMENT</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD nowrap valign="top"><DIV style="margin-left:0px; text-indent:-0px">COUNTY OF DALLAS
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">THIS SEVERANCE AGREEMENT is entered into as of the 21st day of February, 2007 (the &#147;Effective
Date&#148;), by and between Natural Health Trends Corp. (referred to hereinafter as the &#147;Company&#148;), and
Stephanie S. Hayano (referred to hereinafter as &#147;Hayano&#148;).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">W I T N E S S E T H:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">WHEREAS, as of the Effective Date, Hayano is currently President, Chief Executive Officer and
Director of the Company; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">WHEREAS, the parties mutually desire to terminate the employment of Hayano upon the terms and
conditions contained herein; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">WHEREAS, the parties agree that a protracted dispute as to the separation of Hayano from the
Company would not be in the Company&#146;s best interests and desire to compromise and settle their
dispute;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein, the
receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Hayano has tendered, and the Board of Directors has accepted, her resignation as
President, Chief Executive Officer and Director of the Company, effective at 5:00 p.m.
Central Standard Time on February&nbsp;21, 2007.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The parties agree that the Non-Competition Agreement entered into by the parties on
or about the 31st day of July, 2006 (the &#147;Non-Competition Agreement&#148;), is hereby modified
so that the Company&#146;s sole remedy for any violation of Section&nbsp;5 of the Non-Competition
Agreement shall be termination of the Company&#146;s obligation to continue paying any amount
that is otherwise required under this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The parties agree that the &#147;Letter of Employment Terms&#148; dated the 31<SUP style="font-size: 85%; vertical-align: text-top">st</SUP> day
of July, 2006, signed by the parties and setting forth the terms of Hayano&#146;s employment
(the &#147;Letter&#148;), shall be terminated and no longer be of any force and effect, it being the
specific intent of the parties that nothing under this Agreement shall be deemed a breach
by either party of the terms of the Letter.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company will pay to Hayano all accrued but unpaid salary due Hayano by the
Company up through and including February&nbsp;21, 2007, in accordance with its normal payroll
practice.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company will promptly reimburse Hayano for all travel and other expenses
previously paid by Hayano on behalf of the Company in accordance with the Company&#146;s policy
on reimbursements.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon the full execution of this Agreement, the Company will pay Hayano Twelve
Thousand Eight Hundred Sixty-Nine and 82/100 Dollars ($12,869.82), representing the
accrued but unpaid vacation pay due Hayano by the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As a severance payment, the Company will continue to pay Hayano her current salary
(net of applicable payroll taxes) (the &#147;Severance Payment&#148;) for twelve months following
the date of this Agreement (the &#147;Severance Period&#148;); provided, however, that (a)&nbsp;there
shall be deducted from the Severance Payment any compensation that Hayano is paid, earns,
or is promised for employment or other services provided during the Severance Period and,
provided further, that (b)&nbsp;no Severance Payment shall be due to Hayano from and after the
date that Hayano engages in a Competitive Activity, as defined in the Non-Competition
Agreement, or otherwise breaches the Non-Competition Agreement. Each acceptance by
Hayano of an installment of the Severance Payment shall constitute a representation and
warranty to the Company that, to the best of her knowledge, the amount accepted was due to
Hayano under the terms of this Agreement. Hayano will promptly comply with reasonable
requests of the Company for confirmation and verification that Hayano has not, during the
Severance Period, received, earned, or been promised compensation for services rendered
during the Severance Period or breached any provision of this Agreement or the
Non-Competition Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For so long as the Company is required by this Agreement to continue paying the
Severance Payment to Hayano, the Company will maintain Hayano and any beneficiaries of
Hayano currently listed under such policies<U> </U>as a covered employee on its health
and dental insurance plans or, if the Company is legally or contractually precluded from
maintaining Hayano as a covered employee on its health and dental insurance plans, the
Company will pay the COBRA premiums for Hayano and any beneficiaries of Hayano currently
listed under such policies.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As provided in the Letter, the Company will pay Hayano a bonus of $62,500 for 2006 as
follows: (a) $2,500 upon execution in full of this Agreement and (b)&nbsp;the balance
($60,000) immediately following the completion of the audit of the Company&#146;s year end
audit of its financial statements for the year ended December&nbsp;31, 2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Hayano agrees that she will make no defamatory statements about the Company, its
subsidiaries, or their business, finances, prospects, shareholders, directors, officers,
agents, attorneys, consultants and past and present employees. The Company will make no
defamatory statements about Hayano. Nothing in this paragraph is intended to prevent any
party from testifying truthfully under oath if compelled to do so by a subpoena or order
issued by a court or administrative</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->- 2 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>agency with competent jurisdiction, from speaking in confidence with their attorneys, or
complying with applicable securities or other laws.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Hayano hereby agrees, on behalf of herself and all of her heirs or personal
representatives, to release the Company, its predecessors and successors, parent company,
all affiliates, and all of their present or former directors, officers, agents, partners,
employees, employee benefit programs, and the trustees, administrators, fiduciaries and
insurers of such programs (collectively hereafter &#147;the Released Parties&#148;), from any and
all claims for relief of any kind, whether now known or unknown, and concerning events
occurring at any time up to the Effective Date of this Agreement including, but not
limited to, those which in any way arise out of or relate to Hayano&#146;s employment or the
termination of her employment with the Company, any and all claims of discrimination of
any kind, including, but not limited to claims of discrimination due to sex, age, race,
ethnicity, color, religion, national origin, disability, marital status, sexual
orientation, or political affiliation, and any contractual, tort or other common law
claims. This settlement and waiver includes all such claims, whether under any applicable
federal laws, including, but not limited to, the Age Discrimination in Employment Act, as
amended, Title VII of the Civil Rights Act of 1964, as amended, the Civil Rights Act of
1991, 42 U.S.C. &#167; 1981, the Americans with Disabilities Act, the Fair Labor Standards Act,
the Equal Pay Act, the Worker Adjustment and Retraining Notification Act, the Employee
Retirement Income Security Act, the Family and Medical Leave Act, the Sarbanes-Oxley Act
of 2002, or under any other applicable federal, state or local laws or ordinances or any
other legal restrictions on the Company&#146;s rights, including but not limited to the Texas
Commission on Human Rights Act. Hayano further agrees not to file a suit of any kind
against the Company or other Released Parties relating to her employment, or to
participate voluntarily in any employment-related claim brought by any other party against
the Company or other Released Parties. Hayano understands that this Agreement effectively
waives any right she might have to sue the Company and other Released Parties for any
claim arising out of her employment or the termination thereof. This paragraph shall not
be construed as releasing or affecting any claim Hayano may have under this Agreement or
for benefits vested under any ERISA or pension plan. Nothing in this Agreement is meant
to waive any right Hayano may have to elect COBRA continuation coverage. This Agreement
extends to all claims of every nature and kind, presently existing or resulting from or
attributable to any act or omission of any of the Released Parties, occurring prior to the
execution of the Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Hayano agrees to reasonably cooperate with any investigation conducted by the
Company, its Audit Committee, or any independent investigator retained by the Company or
its Audit Committee into any alleged ethical or legal violation by the Company, its
subsidiaries, officers, directors, employees, agents, consultants, or distributors.
Reasonable cooperation includes, but is not limited to, making herself available at
reasonable times and places and on reasonable notice to be interviewed or to testify as to
such matters. Hayano acknowledges that she has</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->- 3 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>fully disclosed to the Company&#146;s Audit Committee and/or General Counsel any known or
suspected ethical or legal violation by the Company, its subsidiaries, officers, directors,
employees, agents, consultants, or distributors and the Company acknowledges that it will
appropriately investigate and respond to any such violations.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company hereby agrees, on behalf of itself and its affiliates, subsidiaries,
agents, representatives, employees, shareholders, predecessors and successors, to release
Hayano from any and all claims for relief of any kind, and concerning events occurring at
any time up to the Effective Date, including, but not limited to, those which in any way
arise out of or relate to the performance of Hayano during her tenure with the Company,
her actions or inactions on the job, breach of fiduciary duty, and any contractual, tort
or other common claims (whether brought directly or derivatively), arising from or
relating to any facts or information currently known by any member of the Company&#146;s board
of directors, executive management or general counsel. The Company understands that this
Agreement effectively waives any right it may have to sue Hayano for any claim arising out
of her service with the Company based on any facts or information currently known by any
member of the Company&#146;s board of directors, executive management or general counsel. This
Agreement extends to all claims of every nature and kind, presently existing or resulting
from or attributable to any act or omission of Hayano, occurring prior to the execution of
this Agreement, arising from or relating to any facts or information currently known by
any member of the Company&#146;s board of directors, executive management or general counsel.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company agrees that it will not specifically exclude Hayano from any D&#038;O
insurance it may carry in the future for former directors and officers of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">15.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The parties to this Agreement understand and agree that this Agreement represents the
settlement of the termination of Hayano&#146;s employment with the Company, and is not
intended, nor shall it be construed to be, and admission of liability on the part of
either party.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">16.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The parties agree that it would be difficult to measure any damages caused to the
other party which might result from any breach of the promises set forth in this
Agreement, and that in any event money damages would be an inadequate remedy for any such
breach. Accordingly, if either party breaches, or proposes to breach, any portion of this
Agreement, the other party shall be entitled, in addition to all other remedies that it
may have, to an injunction or other appropriate equitable relief to restrain any such
breach without showing or proving any actual damage it.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">17.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The parties agree to execute any further or additional documents and to take such
further action as may be reasonably necessary to fully and completely carry out the
intention of the parties hereto and the terms of this Agreement.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->- 4 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">18.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company agrees to provide Hayano with a letter of reference in the form of the
attached Exhibit &#147;A&#148;.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">19.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The parties agree that the contents of this Agreement and the terms of the settlement
are confidential. Accordingly, both parties agree not to comment upon, discuss or
disclose to any person or entity any information concerning the terms, conditions and
provisions of this Agreement, or any other matter relating to the resignation of Hayano,
except to the extent required to comply with any law or court-ordered disclosure,
including without limitation applicable securities laws; provided, however, that each
party shall be allowed to discuss the matter with financial and legal advisors who agree
to be bound by this confidentiality provision to the greatest extent of the law. If asked
to discuss the reasons for the termination of Hayano&#146;s employment from the Company, the
Company shall direct its officers, directors, employees, contractors, subcontractors,
agents, successors and/or assigns to respond only that &#147;Ms.&nbsp;Hayano voluntarily resigned
from the Company for personal reasons;&#148; except to the extent required to comply with any
law or court-ordered disclosure, including without limitation applicable securities laws.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">20.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The parties acknowledge that each has carefully read and reviewed this Agreement, has
had the opportunity to review it with counsel, understands its contents, and is satisfied
with the terms and conditions of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">21.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Texas law shall govern the interpretation of this Agreement without regard to any
choice of law or conflict of law provisions existing under Texas law or the laws of any
other state. This Agreement is intended to be effective as an instrument executed under
seal. Exclusive jurisdiction of any dispute arising from or related to this Agreement
shall lie in the state or federal court in Dallas County, Texas.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">22.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event any provision of this Agreement shall be found to be void or invalid for
any reason, then such portion or provision shall be deemed severable from the remaining
provisions or portions of this Agreement, and shall not affect the validity of the
remaining provisions, which shall be given full effect as if the void or invalid provision
had not been included herein.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">23.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The prevailing party in any proceeding to construe or enforce this Agreement, and any
party successfully asserting a release hereunder as a defense in any proceeding, shall
recover reasonable attorneys&#146; fees and the cost of enforcement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">24.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement may be executed in one or more counterparts, each of which shall
constitute an original, and all of which shall constitute a single memorandum.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">25.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No modification or amendment of this Agreement shall be effective unless the same be
in a writing duly executed by all parties hereto.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->- 5 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">26.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement supersedes all previous agreements, negotiations or understandings
between the parties, whether written or oral. This Agreement constitutes the entire
agreement between the parties, and no other promise, statement or representation not
expressed specifically herein has been made to or relied upon by either party.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">27.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The representative of the Company executing this Agreement represents and warrants
that he is authorized to enter into this Agreement on behalf of the Company, and that this
Agreement shall be the legal, valid and binding obligation of the Company.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">IN WITNESS WHEREOF, and intending to be legally bound hereby, the parties have willingly,
knowingly, and upon the advice and consent of counsel, executed this Agreement on the date and
year first written above.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">COMPANY:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">HAYANO:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Natural Health Trends Corp.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Chris Sharng
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Stephanie S. Hayano
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Stephanie S. Hayano</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Title: President</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->- 6 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">EXHIBIT &#147;A&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To Whom It May Concern:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Stephanie S. Hayano worked for Natural Health Trends Corp. from July&nbsp;31, 2006, until February&nbsp;19,
2007, as President, Chief Executive Officer and Director of the Company. During that time she 1)
participated in negotiations resulting in the settlement of lawsuits and potential lawsuits, 2)
launched two new products, and 3) initiated and implemented significant cost-saving plans. Ms.
Hayano voluntarily resigned from the Company for personal reasons.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>d44025exv10w2.htm
<DESCRIPTION>SEVERANCE AGREEMENT - GERNOT SENKE
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.2</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="25%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="73%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">STATE OF TEXAS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>SEVERANCE AGREEMENT</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">COUNTY OF DALLAS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">THIS
SEVERANCE AGREEMENT is entered into as of the
21<SUP style="font-size: 85%; vertical-align: text-top">st</SUP> day of February, 2007, by and
between Natural Health Trends Corp. (referred to hereinafter as the &#147;Company&#148;), and Gernot Senke
(referred to hereinafter as &#147;Senke&#148;).
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">W I T N E S S E T H:
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">WHEREAS, the parties mutually desire to allow Senke to resign as the Chief Operating Officer of the
Company under the terms of this Agreement; and
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 6pt">NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein, the
receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Senke has tendered, and the Company accepts, Senke&#146;s resignation as Chief Operating
Officer of the Company, effective February&nbsp;21, 2007.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The parties agree that the Non-Competition Agreement entered into by the parties on
or about the 21st day of December, 2006 (the &#147;Non-Competition Agreement&#148;), is hereby
modified so that the Company&#146;s sole remedy for any violation of Section&nbsp;5 of the
Non-Competition Agreement shall be termination of the Company&#146;s obligation to continue
paying any amount otherwise required under this Agreement.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The parties agree that the &#147;Letter of Employment Terms&#148; dated the 21<SUP style="font-size: 85%; vertical-align: text-top">st</SUP> day
of December, 2006, signed by the parties and setting forth the terms of Senke&#146;s employment
(the &#147;Letter&#148;), shall be terminated and no longer be of any force and effect, it being the
specific intent of the parties that nothing under this Agreement shall be deemed a breach
by either party of the terms of the Letter.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company will pay to Senke all accrued but unpaid salary due Senke by the Company
up through but not including February&nbsp;21, 2007, in accordance with its normal payroll
practice.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company will promptly reimburse Senke $14,736.99 in expenses incurred by Senke in
the process of relocating to Dallas, Texas.</DIV></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company will make severance payments (the &#147;Severance Payments&#148;) to Senke on each
date that the Company&#146;s payroll is normally paid in an amount based on an annualized gross
salary of $220,000. The Severance Payments will continue until the earlier of (a)
February&nbsp;20, 2008, (b)&nbsp;the date the Senke accepts other employment, or (c)&nbsp;the date that
Senke breaches any provision of this Agreement or the Non-Competition Agreement (as
amended hereby) (the &#147;Severance Period&#148;). Any amount that Senke receives, earns, or is
promised for consulting work performed during the Severance Period will be deducted from
the Severance Payments otherwise due hereunder. Each acceptance by Senke of an
installment of the Severance Payment shall constitute a representation and warranty to the
Company that the amount accepted was due to Senke under the terms of this Agreement.
Senke will promptly comply with reasonable requests of the Company for confirmation and
verification that Senke has not, during the Severance Period, accepted other employment
received, earned, or been promised compensation for services rendered during the Severance
Period or breached any provision of this Agreement or the Non-Competition Agreement.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">For so long as the Company is required by this Agreement to continue paying the
Severance Payment to Senke, the Company will maintain Senke as a covered employee on its
health and dental insurance plans or, if the Company is legally or contractually precluded
from maintaining Senke as a covered employee on its health and dental insurance plans, the
Company will pay the COBRA premiums for Senke.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Senke agrees that he will make no disparaging statements about the Company, its
subsidiaries, or their business, finances, prospects, shareholders, directors, officers,
agents, attorneys, consultants and past and present employees. The Company will make no
disparaging statements about Senke. Nothing in this paragraph is intended to prevent any
party from testifying truthfully under oath if compelled to do so by a subpoena or order
issued by a court or administrative agency with competent jurisdiction, from speaking in
confidence with their attorneys, or complying with applicable securities or other laws.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Senke hereby agrees, on behalf of himself and all of his heirs or personal
representatives, to release the Company, its predecessors and successors, parent company,
all affiliates, and all of their present or former directors, officers, agents, partners,
employees, employee benefit programs, and the trustees, administrators, fiduciaries and
insurers of such programs (collectively hereafter &#147;the Released Parties&#148;), from any and
all claims for relief of any kind, whether now known or unknown, and concerning events
occurring at any time up to the date of this Agreement including, but not limited to,
those which in any way arise out of or relate to Senke&#146;s employment or the termination of
his employment by resignation with the Company, any and all claims of discrimination of
any kind, including, but not limited to claims of discrimination due to sex, age, race,
ethnicity, color, religion, national origin, disability, marital status, sexual
orientation, or political affiliation, and any contractual, tort or other common law
claims. This settlement and waiver includes all such claims, whether under any</DIV></TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">applicable federal laws, including, but not limited to, the Age Discrimination in
Employment Act, as amended, Title VII of the Civil Rights Act of 1964, as amended, the
Civil Rights Act of 1991, 42 U.S.C. &#167; 1981, the Americans with Disabilities Act, the Fair
Labor Standards Act, the Equal Pay Act, the Worker Adjustment and Retraining Notification
Act, the Employee Retirement Income Security Act, the Family and Medical Leave Act, the
Sarbanes-Oxley Act of 2002, or under any other applicable federal, state or local laws or
ordinances or any other legal restrictions on the Company&#146;s rights, including but not
limited to the Texas Commission on Human Rights Act. Senke further agrees not to file a
suit of any kind against the Company or other Released Parties relating tohis employment,
or to participate voluntarily in any employment-related claim brought by any other party
against the Company or other Released Parties. Senke understands that this Agreement and
General Release effectively waives any right he might have to sue the Company and other
Released Parties for any claim arising out of his employment or the termination thereof.
This Agreement shall not be construed as releasing or affecting any claim Senke may have
for benefits vested under any ERISA or pension plan. Nothing in this Agreement is meant to
waive any right Senke may have to elect COBRA continuation coverage. This Release extends
to all claims of every nature and kind, presently existing or resulting from or
attributable to any act or omission of any of the Released Parties, occurring prior to the
execution of the Agreement.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Senke agrees to fully cooperate with any investigation conducted by the Company, its
Audit Committee, or any independent investigator retained by the Company or its Audit
Committee into any alleged ethical or legal violation by the Company, its subsidiaries,
officers, directors, employees, agents, consultants, or distributors. Reasonable
cooperation includes, but is not limited to, making himself available at reasonable times
and places and on reasonable notice to be interviewed or to testify as to such matters.
Senke acknowledges that he has fully disclosed to the Company&#146;s Audit Committee any known
or suspected ethical or legal violation by the Company, its subsidiaries, officers,
directors, employees, agents, consultants, or distributors.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The parties to this Agreement understand and agree that this Agreement represents the
settlement of the termination of Senke&#146;s employment by resignation with the Company, and
is not intended, nor shall it be construed to be, and admission of liability on the part
of either party.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The parties agree that it would be difficult to measure any damages caused to the
other party which might result from any breach of the promises set forth in this
Agreement, and that in any event money damages would be an inadequate remedy for any such
breach. Accordingly, if either party breaches, or proposes to breach, any portion of this
Agreement, the other party shall be entitled, in addition to all other remedies that it
may have, to an injunction or other appropriate equitable relief to restrain any such
breach without showing or proving any actual damage it.</DIV></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The parties agree to execute any further or additional documents and to take such
further action as may be reasonably necessary to fully and completely carry out the
intention of the parties hereto and the terms of this Agreement.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The parties acknowledge that each has carefully read and reviewed this Agreement, has
had the opportunity to review it with counsel, understands its contents, and is satisfied
with the terms and conditions of this Agreement.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">15.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Texas law shall govern the interpretation of this Severance Agreement without regard
to any choice of law or conflict of law provisions existing under Texas law or the laws of
any other state. This Agreement is intended to be effective as an instrument executed
under seal. Exclusive jurisdiction of any dispute arising from or related to this
Agreement shall lie in the state or federal court in Dallas County, Texas, that is
selected by the Company.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">16.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">In the event any provision of this agreement shall be found to be void or invalid for
any reason, then such portion or provision shall be deemed severable from the remaining
provisions or portions of this Agreement, and shall not affect the validity of the
remaining provisions, which shall be given full effect as if the void or invalid provision
had not been included herein.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">17.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The prevailing party in any proceeding to construe or enforce this Agreement, and any
party successfully asserting a release hereunder as a defense in any proceeding, shall
recover reasonable attorneys&#146; fees and the cost of mediation.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">18.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">This Agreement may be executed in one or more counterparts, each of which shall
constitute an original, and all of which shall constitute a single memorandum.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">19.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">No modification or amendment of this Agreement shall be effective unless the same be
in a writing duly executed by all parties hereto.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">20.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">This Agreement supersedes all previous agreements, negotiations or understandings
between the parties, whether written or oral. This Agreement constitutes the entire
agreement between the parties, and no other promise, statement or representation not
expressed specifically herein has been made to or relied upon by either party.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">21.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The representative of the Company executing this Agreement represents and warrants
that he is authorized to enter into this Agreement on behalf of the Company, and that this
Agreement shall be the legal, valid and binding obligation of the Company.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">IN WITNESS WHEREOF, and intending to be legally bound hereby, the parties have willingly,
knowingly, and upon the advice and consent of counsel, executed this Agreement on the date and
year first written above.</DIV></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">COMPANY:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">SENKE:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Natural Health Trends Corp.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Chris Sharng
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Gernot Senke</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Gernot Senke</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Title:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>d44025exv99w1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>FOR IMMEDIATE RELEASE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Contact:<BR>
Deanna Decker<BR>
Padilla Spear Beardsley<BR>
(212)&nbsp;752-8338<BR>
ddecker@psbpr.com

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Rick Anderson<BR>
Padilla Spear Beardsley<BR>
(212)&nbsp;752-8338<BR>
randerson@psbpr.com

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NATURAL HEALTH TRENDS CORP. ANNOUNCES<BR>
REORGANIZATION AND BOARD AND MANAGEMENT CHANGES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>DALLAS,
TX, February&nbsp;26, 2007 </B>&#151;  Natural Health Trends Corp. (&#147;the Company&#148;) (NASDAQ NMS:
BHIP), an international direct-selling company, today announced that its Board of Directors has
named Chris T. Sharng as the Company&#146;s President effective immediately. Mr.&nbsp;Sharng has been the
Company&#146;s Executive Vice President and Chief Financial Officer since August&nbsp;2004. Prior to Natural
Health Trends Corp., he worked in various financial and operational roles at publicly traded
companies such as Ultrak Inc. and Mattel Inc. Mr.&nbsp;Sharng has an MBA from Columbia Business School
and a bachelor&#146;s degree from National Taiwan University.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, Curtis E. Broome, President of NHT Global, is designated as an executive officer of
the Company. Prior to his current role of overseeing all of the Company&#146;s markets, Mr.&nbsp;Broome ran
the Company&#146;s Greater China, Southeast Asia markets and, at an earlier appointment, the North
American market. Mr.&nbsp;Broome is credited for bringing the Greater China market back on track from a
difficult time in early 2004 and building it into the largest revenue and profit source of the
Company. He has over 20&nbsp;years of executive and entrepreneurial experience in network marketing,
hospitality and on-line development businesses.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">At the same time, the Company announced the resignations of Messrs.&nbsp;Colin J. O&#146;Brien and Terrence
M. Morris from the Board of Directors. Ms.&nbsp;Stephanie S. Hayano resigned as the President and Chief
Executive Officer as well as from the Board of Directors. Gernot Senke resigned as the chief
operating officer. The Company is in the process of recruiting additional independent directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Sharng, the Company&#146;s President, said, &#147;The past year has been a traumatic and difficult period
of time for the Company. We have heeded the opinions of our stockholders and implemented a
management structure that empowers reliable and proven executives like Curtis and other key
executives to restore growth to the Company. Additionally, I have personally met with Messrs.
Woodburn and LaCore, the two founders of the Company, and asked for their help in moving the
Company forward and they have committed their enthusiastic support. While both Messrs.&nbsp;Woodburn
and LaCore previously agreed to assist the Company, we did not take full advantage of their
expertise and expect to immediately change that. The Company is at a critical juncture. We plan
to aggressively restructure many of the Company&#146;s operations to bring costs in line with revenue.
We need the collective wisdom and experience of our management team to turn the Company around.&#148;
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><I>--
more --</I>

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>About Natural Health Trends Corp.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Natural Health Trends Corp. is an international direct-selling company operating through its
subsidiaries in 15 countries throughout Asia, North America, Europe and Latin America. The Company
markets premium quality personal care products under the NHT Global (formerly Lexxus International)
brand. Additional information can be found on the Company&#146;s Website, and management encourages
interested parties to register for updated corporate information via e-mail on the Company&#146;s
homepage, <u>www.naturalhealthtrendscorp.com</u>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 &#151;
Forward-looking statements in this release do not constitute guarantees of future performance. Such
forward-looking statements are subject to risks and uncertainties that could cause our actual
results to differ materially from those anticipated. Such statements may relate, among other
things, to our relationship with our distributors; our need to continually recruit new
distributors; our internal controls and accounting methods may require further modification; our
need to raise additional capital if revenues continue to decline; risks related to an SEC
investigation and securities litigation; adverse consequences from audit committee investigations
or management changes; regulatory matters governing our products and network marketing system;
regulatory matters pertaining to direct-selling laws, specifically in China; our ability to recruit
and maintain key management and consultants; adverse publicity associated with our products or
direct selling organizations; product liability claims; our reliance on outside manufacturers;
risks associated with operating internationally, including foreign exchange risks; product
concentration; dependence on increased penetration of existing markets; the competitive nature of
our business; and our ability to generate sufficient cash to operate and expand our business. For
a more detailed discussion of the risks and uncertainties of our business, please refer to our
Annual Report on Form 10-K and our amended Annual Report on Form 10-K/A for the fiscal year ended
December&nbsp;31, 2005 filed with the Securities and Exchange Commission. We assume no obligation to
update any forward-looking information contained in this press release or with respect to the
announcements described herein.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">###

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
