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Exhibit 10.45

FIRST AMENDMENT TO 364-DAY CREDIT AGREEMENT

        THIS FIRST AMENDMENT TO 364-DAY CREDIT AGREEMENT (this "Amendment"),
dated as of June 27, 2002, is entered into among HEALTH NET, INC., a Delaware
corporation (the "Borrower"), the Lenders identified on the signature pages
hereto (the "Lenders"), and BANK OF AMERICA, N.A., as administrative agent for
the Lenders (in such capacity, the "Administrative Agent"). Terms used but not
otherwise defined herein shall have the meanings provided in the Credit
Agreement described below.

W I T N E S S E T H

        WHEREAS, the Borrower, the Lenders, and the Administrative Agent entered
into that certain 364-Day Credit Agreement dated as of June 28, 2001 (the
"Existing Credit Agreement"); and

        WHEREAS, the Borrower has requested to extend the Commitment Termination
Date for an additional 364 day period, and certain Lenders party to the Existing
Credit Agreement have agreed to extend their respective Commitments and amend
the Existing Credit Agreement in accordance with such request and as provided
herein.

        NOW, THEREFORE, in consideration of the agreements hereinafter set
forth, and for other good and valuable consideration, the receipt and adequacy
of which are hereby acknowledged, the parties hereto agree as follows:

PART 1
DEFINITIONS

        SUBPART 1.1    Certain Definitions.    Unless otherwise defined herein
or the context otherwise requires, the following terms used in this Amendment,
including its preamble and recitals, have the following meanings:

        "Amended Credit Agreement" means the Existing Credit Agreement as
amended hereby.

        "Amendment No. 1 Effective Date" is defined in Subpart 3.1.

        SUBPART 1.2    Other Definitions.    Unless otherwise defined herein or
the context otherwise requires, terms used in this Amendment, including its
preamble and recitals, have the meanings provided in the Existing Credit
Agreement.

PART 2
AMENDMENTS TO EXISTING CREDIT AGREEMENT

        Effective on (and subject to the occurrence of) the Amendment No. 1
Effective Date, the Existing Credit Agreement is hereby amended in accordance
with this Part 2.

        SUBPART 2.1    Amendments to Section 1.01.    The definition of
"Commitment Termination Date" set forth in Section 1.01 of the Existing Credit
Agreement is hereby amended in its entirety to read as follows:

        "Commitment Termination Date" shall mean the date 364 days following
June 27, 2002.

        SUBPART 2.2    Amendments to Schedule 2.01.    Schedule 2.01 of the
Existing Credit Agreement is hereby replaced with Schedule 2.01 attached hereto.

PART 3
CONDITIONS TO EFFECTIVENESS

        SUBPART 3.1    Amendment No. 1 Effective Date.    This Amendment shall
be and become effective as of the date hereof (the "Amendment No. 1 Effective
Date") when all of the conditions set forth in

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this Part 3 shall have been satisfied, and thereafter this Amendment shall be
known, and may be referred to, as the "Amendment ".

        SUBPART 3.2    Execution of Counterparts of Amendment.    The
Administrative Agent shall have received counterparts (or other evidence of
execution, including telephonic message, satisfactory to the Administrative
Agent) of this Amendment, which collectively shall have been duly executed on
behalf of each of the Borrower, the Lenders, and the Administrative Agent.

        SUBPART 3.3    Fees and Expenses.    The Borrower has paid all fees and
expenses incurred in connection with the negotiation, preparation, execution and
delivery of this Amendment and the other transactions contemplated herein
including, without limitation, the reasonable legal fees and expenses of Moore &
Van Allen, counsel to the Administrative Agent.

        SUBPART 3.4    Other Items.    The Administrative Agent shall have
received such other documents, agreements or information which may be reasonably
requested by the Administrative Agent.

PART 4
MISCELLANEOUS

        SUBPART 4.1    Representations and Warranties.    The Borrower hereby
represents and warrants to the Administrative Agent and the Lenders that, after
giving effect to this Amendment, (a) no Default or Event of Default exists under
the Credit Agreement and (b) the representations and warranties set forth in
Section 3 of the Existing Credit Agreement are, subject to the limitations set
forth therein, true and correct in all material respects as of the date hereof
(except for those which expressly relate to an earlier date).

        SUBPART 4.2    Reaffirmation of Obligations.    The Borrower hereby
ratifies the Credit Agreement and acknowledges and reaffirms (a) that it is
bound by all terms of the Credit Agreement applicable to it and (b) that it is
responsible for the observance and full performance of its respective
obligations under the Credit Agreement.

        SUBPART 4.3    Cross-References.    References in this Amendment to any
Part or Subpart are, unless otherwise specified, to such Part or Subpart of this
Amendment.

        SUBPART 4.4    Instrument Pursuant to Existing Credit Agreement.    This
Amendment is executed pursuant to the Existing Credit Agreement and shall
(unless otherwise expressly indicated therein) be construed, administered and
applied in accordance with the terms and provisions of the Existing Credit
Agreement.

        SUBPART 4.5    References in Other Credit Documents.    At such time as
this Amendment shall become effective pursuant to the terms of Subpart 3.1, all
references to the "Credit Agreement" shall be deemed to refer to the Credit
Agreement as amended by this Amendment.

        SUBPART 4.6    Counterparts/Telecopy.    This Amendment may be executed
by the parties hereto in several counterparts, each of which shall be deemed to
be an original and all of which shall constitute together but one and the same
agreement. Delivery of executed counterparts of the Amendment by telecopy shall
be effective as an original and shall constitute a representation that an
original shall be delivered.

        SUBPART 4.7    Governing Law.    THIS AMENDMENT SHALL BE DEEMED TO BE A
CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK
(INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW,
BUT EXCLUDING ALL OTHER CHOICE OF LAW AND CONFLICTS OF LAW RULES).

        SUBPART 4.8    Successors and Assigns.    This Amendment shall be
binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns.

        SUBPART 4.9    General.    Except as amended hereby, the Existing Credit
Agreement and all other credit documents shall continue in full force and
effect.

        [Remainder of Page Intentionally Left Blank]

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        IN WITNESS WHEREOF, the parties hereto have executed this Amendment to
the 364-Day Credit Agreement as of the date first above written.

BORROWER:
 
HEALTH NET, INC.,
a Delaware corporation
 
 
By:
 
/s/  MICHAEL P. WHITE              

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    Name:   Michael P. White        

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    Title:   SVP & Treasurer        

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ADMINISTRATIVE AGENT:
 
BANK OF AMERICA, N.A.
 
 
By:
 
/s/  JOSEPH L. CORAH              

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    Name:   Joseph L. Corah        

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    Title:   Principal        

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LENDERS:
 
BANK OF AMERICA, N.A.
 
 
By:
 
/s/  JOSEPH L. CORAH              

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    Name:   Joseph L. Corah        

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    Title:   Principal        

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JPMORGAN CHASE BANK (formerly
known as The Chase Manhattan Bank)
 
 
By:
 
/s/  DAWN LEE LUM              

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    Name:   Dawn Lee Lum        

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    Title:   Vice President        

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FLEET NATIONAL BANK
 
 
By:
 
/s/  JUDI N. CYR              

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    Name:   Judi N. Cyr        

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    Title:   Vice President        

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MIZUHO CORPORATE BANK, LTD.
(successor to The Fuji Bank, Limited, The
Industrial Bank of Japan, Limited and
The Dai-Ichi Kangyo Bank, Ltd., respectively)
 
 
By:
 
/s/  MASAHITO FUKUDA              

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    Name:   Masahito Fukuda        

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    Title:   Sr. Vice President & G.H.        

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CITICORP USA, Inc.
 
 
By:
 
/s/  PETER C. BICKFORD              

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    Name:   Peter C. Bickford        

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    Title:   Vice President        

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THE BANK OF NOVA SCOTIA
 
 
By:
 
/s/  R.P. REYNOLDS              

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    Name:   R.P. Reynolds        

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    Title:   Director        

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SUMITOMO MITSUI BANKING CORPORATION
 
 
By:
 
/s/  AL GALLUZZO              

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    Name:   Al Galluzzo        

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    Title:   Senior Vice President        

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THE BANK OF NEW YORK
 
 
By:
 
/s/  REBECCA K. LEVINE              

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    Name:   Rebecca K. Levine        

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    Title:   Vice President        

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WELLS FARGO BANK, N.A.
 
 
By:
 
/s/  LUCY NIXON              

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    Name:   Lucy Nixon        

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    Title:   Vice President        

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UNION BANK OF CALIFORNIA, N.A.
 
 
By:
 
/s/  PHILIP M. ROESNER              

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    Name:   Philip M. Roesner        

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    Title:   Vice President        

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CREDIT LYONNAIS NEW YORK BRANCH
 
 
By:
 
/s/  CHARLES HEIDSIECK              

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    Name:   Charles Heidsieck        

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    Title:   Senior Vice President        

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SCHEDULE 2.01

COMMITMENTS
(364-Day Credit Agreement)

Lender

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  Commitment Amount

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  Commitment Percentage

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  Bank of America, N.A.   $ 28,500,000   16.285714285 % The Chase Manhattan Bank
  $ 28,500,000   16.285714285 % Fleet National Bank   $ 28,000,000  
16.000000000 % Citicorp, USA   $ 25,000,000   14.285714285 % The Bank of Nova
Scotia   $ 15,000,000   8.571428571 % The Bank of New York   $ 10,000,000  
5.714285714 % Wells Fargo Bank   $ 10,000,000   5.714285714 % Union Bank of
California, N.A.   $ 10,000,000   5.714285714 % Mizuho Corporate Bank, Ltd.   $
7,500,000   4.285714285 % Sumitomo Mitsui Banking Corporation   $ 7,500,000  
4.285714285 % Credit Lyonnais New York Branch   $ 5,000,000   2.857142857 %
Total:   $ 175,000,000   100.000000000 %

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FIRST AMENDMENT TO 364-DAY CREDIT AGREEMENT