Securities Registration: Employee Benefit Plan (s-8)
August 08 2017 - 3:30PM
Edgar (US Regulatory)
As filed with the Securities and Exchange Commission on August 8, 2017
Registration
No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
S-8
REGISTRATION STATEMENT
UNDER
THE
SECURITIES ACT OF 1933
WEIGHT WATCHERS INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
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Virginia
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11-6040273
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(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer
Identification Number)
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675 Avenue of the Americas, 6th Floor
New York, New York 10010
(Address and zip code of principal executive offices)
Weight
Watchers International, Inc. Term Sheet and Terms and Conditions for Employee Stock Option
Awards (Chief Executive Officer Initial
Equity Award Inducement Grant)
(Full title of the plan)
Michael F. Colosi, Esq.
Weight Watchers International, Inc.
675 Avenue of the Americas, 6th Floor
New York, New York 10010
(212)
589-2700
(Name, address and telephone number, including area code, of agent for service)
Copy to:
Kenneth
Wallach, Esq. Simpson Thacher & Bartlett LLP
425 Lexington Avenue
New York, New York 10017
Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated
filer, a smaller reporting company, or an emerging growth company. See the definitions of large accelerated
filer, accelerated filer, smaller reporting company, and emerging growth company in Rule
12b-2
of the Exchange Act.
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Large accelerated filer
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☐
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Accelerated filer
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☒
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Non-accelerated filer
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☐ (Do not check if a smaller reporting company)
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Smaller reporting company
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☐
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Emerging growth company
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☐
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
CALCULATION
OF REGISTRATION FEE
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Title of securities
to be registered
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Amount
to be
registered(a)
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Proposed
maximum
offering
price
per share(b)
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Proposed
maximum
aggregate
offering price(b)
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Amount of
registration fee(b)
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Common stock, no par value per share
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500,000
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$60.00
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$30,000,000
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$3,477
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(a)
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Covers an aggregate of 500,000 shares of common stock, no par value per share (the Common Stock), of Weight Watchers International, Inc. (the Company or the Registrant), issuable upon
the exercise of a stock option (the Option) granted under the Weight Watchers International, Inc. Term Sheet and Terms and Conditions for Employee Stock Option Awards, dated July 5, 2017, between the Company and Mindy Grossman (the
Option Agreement) and pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the Securities Act). This registration statement on Form
S-8
(the Registration
Statement) also covers an indeterminate number of additional shares of Common Stock that may become issuable upon the exercise of the Option to prevent dilution by reason of any stock dividend, stock split, recapitalization or other similar
transaction effected without the receipt of consideration, which results in an increase in the number of the Registrants outstanding shares of Common Stock.
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(b)
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Pursuant to Rule 457(h)(1) under the Securities Act, the proposed maximum offering price per share and the proposed maximum aggregate offering price for the purpose of calculating the amount of registration fee are
based upon the Option exercise price of $60.00 per share.
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EXPLANATORY NOTE
This Registration Statement registers 500,000 shares of Common Stock of the Company that may be issued upon the exercise of the Option granted to
Ms. Grossman on July 5, 2017 pursuant to the Option Agreement. In accordance with the terms of the Option Agreement, the Option constitutes a
non-plan
based inducement grant granted in
reliance on the employment inducement exemption provided under the New York Stock Exchange Listed Company Manual Rule 303A.08.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information specified in this Part I will be sent or given as specified by Rule 428(b)(1) of the Securities Act. Such
documents need not be filed with the Securities and Exchange Commission (the Commission) either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. These
documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of
the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
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Incorporation of Documents by Reference.
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The following documents that the Registrant has filed with the
Commission pursuant to the Securities Exchange Act of 1934, as amended (the Exchange Act), are hereby incorporated by reference in this Registration Statement:
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(a)
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the Registrants Annual Report on Form
10-K
for the fiscal year ended December 31, 2016, filed on March 1, 2017;
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(b)
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the Registrants Quarterly Report on Form
10-Q
for the quarterly period ended April 1, 2017, filed on May 10, 2017 and Quarterly Report on Form
10-Q
for the quarterly period ended July 1, 2017, filed on August 8, 2017;
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(c)
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the Registrants Current Reports on Form
8-K,
filed on April 26, 2017, May 9, 2017, May 18, 2017 and May 24, 2017 (other than those portions
furnished to the Commission); and
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(d)
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the description of the Registrants Common Stock under the heading Description of Capital Stock included in its Registration Statement on Form
S-1
incorporated by
reference in its Registration Statement on Form
8-A
under Section 12(b) of the Exchange Act filed on November 9, 2001, as amended by the Form
8-A/A
filed on
January 6, 2012, and including any further amendment or report filed for the purpose of updating such description.
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All documents
subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or
which deregisters all securities then remaining unsold (other than those furnished pursuant to Item 2.02 or Item 7.01 of Form
8-K
or other information furnished to the Commission), shall
be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents. Any statement contained in this Registration Statement or in a document incorporated or deemed to be
incorporated by reference in this Registration Statement shall be deemed modified or superseded for purposes of this Registration Statement to the extent that a statement contained in this Registration Statement or in any subsequently filed document
which also is or is deemed to be incorporated by reference in this Registration Statement modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as modified or superseded, to constitute a part
of this Registration Statement.
Item 4.
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Description of Securities.
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Not applicable.
Item 5.
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Interests of Named Experts and Counsel.
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Not applicable.
Item 6.
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Indemnification of Directors and Officers.
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The Virginia Stock Corporation Act (the VSCA)
permits a Virginia corporation to indemnify its directors and officers in a variety of circumstances, which may include indemnification for liabilities under the Securities Act. Under the VSCA, a corporation generally is authorized to indemnify
its directors and officers in civil and criminal actions if they acted in good faith and believed their conduct to be in the best interests of the corporation and, in the case of criminal actions, had no reasonable cause to believe that the conduct
was unlawful. The VSCA requires such indemnification, unless limited by a corporations articles of incorporation, when a director or officer entirely prevails in the defense of any proceeding to which he or she was a party because he or
she is or was a director or officer of the corporation. The VSCA provides that a corporation may make any other or further indemnity (including indemnity with respect to a proceeding by or in the right of the corporation), and may make additional
provision for advances and reimbursement of expenses, if authorized by its articles of incorporation or shareholder-adopted bylaw or resolution, except an indemnity against willful misconduct or a knowing violation of the criminal law. The
Registrants Amended and Restated Articles of Incorporation (the Articles) require indemnification of directors and officers with respect to certain liabilities and expenses imposed upon them by reason of having been a director or
officer, except in the case of willful misconduct or a knowing violation of criminal law.
The VSCA establishes a statutory limit on liability of
directors and officers of a corporation for damages assessed against them in a suit brought by or in the right of the corporation or brought by or on behalf of the corporations shareholders and authorizes a corporation to specify a lower
monetary limit on liability (including the elimination of liability for monetary damages) in the corporations articles of incorporation or bylaws; however, the liability of a director or officer shall not be limited if such director or officer
engaged in willful misconduct or a knowing violation of the criminal law or of any federal or state securities law. As permitted by the VSCA, the Articles eliminate the liability for monetary damages of a director or officer in a proceeding brought
by or in the right of the Registrant or brought by or on behalf of the Registrants shareholders. This elimination of liability will not apply in the event of willful misconduct or a knowing violation of criminal law or any federal or
state securities law.
The Registrant maintains officers and directors insurance covering certain liabilities that may be incurred by officers
and directors in the performance of their duties.
Item 7.
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Exemption from Registration Claimed.
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Not applicable.
The following exhibits are filed as part of this Registration Statement:
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Exhibit
Number
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Description
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4.1
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Form of Term Sheet for Employee Stock Option Awards and Form of Terms and Conditions for Employee Stock Option Awards (Chief Executive Officer Initial Equity Award Inducement Grant Award) are incorporated herein by reference
to Exhibit 10.4 to the Registrants Current Report on
Form 8-K
as filed on April 26, 2017 (File
No. 001-16769).
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4.2
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Amended and Restated Articles of Incorporation of Weight Watchers International, Inc. are incorporated herein by reference to Exhibit 3.1 to Amendment No. 1 to the Registrants Registration Statement on Form
8-A
as filed on January 6, 2012 (File
No. 001-16769).
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4.3
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Articles of Amendment to the Articles of Incorporation, as Amended and Restated, of Weight Watchers International, Inc. to Create a New Series of Preferred Stock Designated as Series B Junior Participating Preferred Stock, adopted
as of November 14, 2001 are incorporated herein by reference to Exhibit 3.2 to Amendment No. 1 to the Registrants Registration Statement on Form
8-A
as filed on January 6, 2012 (File
No. 001-16769).
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4.4
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Amended and Restated Bylaws of Weight Watchers International, Inc., as of November 14, 2013 are incorporated herein by reference to Exhibit 3.1 to the Registrants Current Report on Form
8-K
as filed on November 18, 2013 (File
No. 001-16769).
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4.5
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Specimen of stock certificate representing Weight Watchers International, Inc.s common stock, no par value, is incorporated herein by reference to Exhibit 4.1 to Amendment No. 1 to the Registrants Registration
Statement on Form
8-A
as filed on January 6, 2012 (File
No. 001-16769).
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5.1
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Opinion of Hunton & Williams LLP.
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23.1
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Consent of Hunton & Williams LLP (included in Exhibit 5.1).
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23.2
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Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm.
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24
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Power of Attorney (included on signature page).
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(a) The undersigned Registrant hereby undertakes:
(1) to file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i) to include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii) to reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant
to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the Calculation of Registration Fee table in the effective
Registration Statement; and
(iii) to include any material information with respect to the plan of distribution not previously disclosed in the
Registration Statement or any material change to such information in the Registration Statement;
provided, however,
that paragraphs (a)(1)(i) and
(a)(1)(ii) of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or
Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.
(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective
amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities being registered hereby which remain unsold at the
termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act,
each filing of the Registrants annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plans annual report pursuant to Section 15(d) of the
Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial
bona fide
offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors,
officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities
Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant
in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has
been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such
issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form
S-8
and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, and State of New York, on
the 8th day of August, 2017.
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WEIGHT WATCHERS INTERNATIONAL, INC.
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(Registrant)
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By:
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/s/ Nicholas P. Hotchkin
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Name:
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Nicholas P. Hotchkin
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Title:
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Chief Financial Officer
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POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Mindy Grossman, Nicholas P. Hotchkin and
Michael F. Colosi, and each of them, the true and lawful
attorneys-in-fact
and agents of the undersigned, with full power of substitution and resubstitution, for and in
the name, place and stead of the undersigned, in any and all capacities, in connection with this Registration Statement, to sign any and all amendments or supplements to this Registration Statement, including any and all stickers and post-effective
amendments, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission and any applicable securities exchange or securities self-regulatory body, and does hereby grant
unto said
attorneys-in-fact
and agents, and each of them, full power and authority to do and perform each and every act and thing requisite or necessary to be done in
and about the premises, as fully to all intents and purposes as she or he might or could do in person, hereby ratifying and confirming all that said
attorneys-in-fact
and agents, or any of them, or their, her or his substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the
Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities indicated and on the 8th day of August, 2017.
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Signature
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Title
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/s/ Mindy Grossman
Mindy Grossman
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President, Chief Executive Officer and Director
(Principal Executive Officer)
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/s/ Nicholas P. Hotchkin
Nicholas P. Hotchkin
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Chief Financial Officer
(Principal Financial
and Accounting Officer)
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/s/ Raymond Debbane
Raymond Debbane
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Director
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/s/ Steven M. Altschuler
Steven M. Altschuler
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Director
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/s/ Philippe J. Amouyal
Philippe J. Amouyal
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Director
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Signature
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Title
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/s/ Cynthia Elkins
Cynthia Elkins
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Director
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/s/ Jonas M. Fajgenbaum
Jonas M. Fajgenbaum
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Director
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/s/ Denis F. Kelly
Denis F. Kelly
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Director
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/s/ Sacha Lainovic
Sacha Lainovic
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Director
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/s/ Thilo Semmelbauer
Thilo Semmelbauer
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Director
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/s/ Christopher J. Sobecki
Christopher J. Sobecki
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Director
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/s/ Oprah Winfrey
Oprah Winfrey
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Director
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EXHIBIT INDEX
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Exhibit
Number
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Description
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4.1
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Form of Term Sheet for Employee Stock Option Awards and Form of Terms and Conditions for Employee Stock Option Awards (Chief Executive Officer Initial Equity Award Inducement Grant Award) are incorporated herein by reference
to Exhibit 10.4 to the Registrants Current Report on
Form 8-K
as filed on April 26, 2017 (File
No. 001-16769).
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4.2
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Amended and Restated Articles of Incorporation of Weight Watchers International, Inc. are incorporated herein by reference to Exhibit 3.1 to Amendment No. 1 to the Registrants Registration Statement on Form
8-A
as filed on January 6, 2012 (File
No. 001-16769).
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4.3
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Articles of Amendment to the Articles of Incorporation, as Amended and Restated, of Weight Watchers International, Inc. to Create a New Series of Preferred Stock Designated as Series B Junior Participating Preferred Stock, adopted
as of November 14, 2001 are incorporated herein by reference to Exhibit 3.2 to Amendment No. 1 to the Registrants Registration Statement on Form
8-A
as filed on January 6, 2012 (File
No. 001-16769).
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4.4
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Amended and Restated Bylaws of Weight Watchers International, Inc., as of November 14, 2013 are incorporated herein by reference to Exhibit 3.1 to the Registrants Current Report on Form
8-K
as filed on November 18, 2013 (File
No. 001-16769).
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4.5
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Specimen of stock certificate representing Weight Watchers International, Inc.s common stock, no par value, is incorporated herein by reference to Exhibit 4.1 to Amendment No. 1 to the Registrants Registration
Statement on
Form 8-A
as filed on January 6, 2012 (File
No. 001-16769).
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5.1
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Opinion of Hunton & Williams LLP.
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23.1
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Consent of Hunton & Williams LLP (included in Exhibit 5.1).
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23.2
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Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm.
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Power of Attorney (included on signature page).
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