Form of Stock Option Agreement - CHG Healthcare Services and Richard K. Whitney




 Exhibit 10.7.11 
 CHG HEALTHCARE SERVICES, INC. 
 DIRECTOR 
 STOCK OPTION AGREEMENT 
 THIS STOCK OPTION AGREEMENT (this
“Agreement”), dated as February 23, 2006, is made by and between CHG Healthcare Services, Inc. (formerly CompHealth Group, Inc.), a Delaware corporation (the “Company”), and RICHARD K. WHITNEY (the
“Director”). Capitalized terms used herein and not otherwise defined are defined in Section 8 below. 
 WHEREAS, the
Company and the Director desire to enter into an agreement pursuant to which, among other things, the Company shall grant to the Director the option (the “Option”) to acquire 385 shares of the Company’s common stock, par value
$.01 per share (the “Common Stock”), pursuant to the Company’s 2003 Stock Option Plan (the “Plan”). In granting the Director the Option, the Company is providing the Director with additional incentive to
maximize the Director’s efforts to develop the Company and its Subsidiaries to the fullest extent possible. Certain provisions of this Agreement are intended for the benefit of the Investors and for the benefit of transferees (other than the
Company) of Stockholders Shares previously held by any of the Investors (other than transferees in a Public Sale or in a Sale of the Company) (such Stockholder Shares, the “Investor Shares”) so long as such transferees continue to
hold such Investor Shares. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 
 1.
Stock Options. 
 (a) Option. 
 (i) Option Grant. The Company hereby grants to the Director the Option to purchase 385 shares of Common Stock (“Option Shares”), at a price per share of $475.00 per share (the “Option
Price”). The Option Price and the number of Option Shares will be equitably adjusted for any stock split, stock dividend or reclassification or recapitalization of the Common Stock which occurs subsequent to the date of this Agreement. The
Option will expire on the earliest to occur of the following dates (such earliest date is referred to as the “Expiration Date”): (A) the tenth anniversary of the date of the Plan, (B) thirty (30) days after the
effective date upon which the Director ceases to be a member of the Board for any reason (such date is referred to herein as the “Termination Date”) (provided that, if Director ceases to be a member of the Board by reason of
Director’s death, such period shall be 120 days after the date of such cessation), or (C) the date of consummation of a Sale of the Company in accordance with Section 1(a)(iii)(B) below. The Option is not intended to be an
“incentive stock option” within the meaning of Section 422 of the Code. 
 (ii) Exercisability. The
Option shall vest and become exercisable in accordance with the following schedule (the period covered thereby, the “Vesting Period”), if the 











 
Director is serving, and has been continuously, as a member of the Board from the date hereof through such date: 
  

				
	 DATE
	  	CUMULATIVE PERCENTAGE
OF OPTION SHARES
TO BE VESTED	 
	 1st
Anniversary of the date hereof
	  	25	%
	 2nd
Anniversary of the date hereof
	  	50	%
	 3rd
Anniversary of the date hereof
	  	75	%
	 4th
Anniversary of the date hereof
	  	100	%

 If the Director ceases to be a member of the Board on any date other than an anniversary date of the date hereof
and prior to the fourth anniversary of the date hereof, the cumulative percentage of Option Shares to become vested shall be determined on a pro rata basis according to the number of complete calendar months elapsed since the prior anniversary date
of the date hereof. 
 For example: Assume that the Director was granted the Option to purchase 100 Option Shares. If the Director
ceased to be a member of the Board one year and three (3) complete calendar months after the date hereof, 31.25 Option Shares shall have vested: This result would not change if the Director ceased to be a member of the Board one year, three
complete calendar months and fifteen days after the date hereof. 
 (iii) Accelerated Vesting on Sale of the Company.

 (A) Notwithstanding anything to the contrary in Section 1(a)(ii) above but subject to Section 1(a)(iii)(B) below,
in the event of a Sale of the Company and the involuntary removal of the Director from the Board as a result of the Sale of the Company, the Option will vest and become exercisable immediately upon the effective date of the Director’s
involuntary removal from the Board with respect to 50% of the unvested Option Shares. 
 For example: Assume that the Director was
granted the Option to purchase 100 Option Shares. If a Sale of the Company occurs and the Director is involuntarily removed from the Board as a result one year and three (3) complete calendar months after the date hereof, 34.375 Option Shares
(or 50% of the 68.75 unvested Option Shares) shall vest (in addition to the 31.25 Option Shares already vested as of such date). 
 (B) Notwithstanding anything to the contrary in Section 1(a)(ii) or 1(a)(iii)(A) above, upon any Sale of the Company, the Board may in its sole discretion elect (if it so desires and without any obligation to do so) to terminate the
Options, effective upon consummation of such Sale of the Company, in which case, in the Board’s discretion, (x) the Option shall vest and become exercisable with respect to all of the Option Shares immediately prior to the consummation of
such Sale of the Company, and the Director shall 

  

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be given an opportunity to exercise the Option simultaneously with the consummation of the Sale of the Company and, if the Director exercises the Option, to
participate in such Sale of the Company as a holder of Common Stock or (y) the Option shall cease to vest and become exercisable and the holder of the Option shall be entitled to receive consideration in an amount equal to the number of shares
of Common Stock then issuable upon exercise of the Option multiplied by the difference between (1) the consideration received for each share of Common Stock in such Sale of the Company (if other than cash, valued by the Board in its
reasonable discretion) and (2) the applicable Option Price. 
 (iv) Procedure for Exercise. At any time after the
Option has vested and become exercisable with respect to any of the Option Shares and prior to the Expiration Date, the Director may exercise all or any portion of the Option with respect to Option Shares vested pursuant to Sections 1(a)(ii) or
1(a)(iii) above by delivering written notice of exercise to the Company, together with (1) a written acknowledgment reaffirming the representations and warranties set forth in this Agreement and agreeing to be bound by all of the terms and
conditions contained herein and in the Plan and counterpart signature pages to the Stockholders Agreement, upon execution of which the Director shall become a party to such agreements as contemplated by Section 7 hereof and (2) payment in
full of the Option Price with respect to the Option Shares being acquired in such exercise of the Option. The Option Price shall be paid by (I) delivery of a cashier’s, personal or certified check or wire transfer of immediately available
funds in the amount of the Option Price with respect to the Option Shares being acquired in such exercise of the Option, (II) the surrender to the Company of shares of Common Stock having an aggregate Fair Market Value equal to the Option Price, so
long as such shares of Common Stock are not Director Securities held by the Director for less than six months or, if the Board in its sole discretion agrees, (III) a cashless exercise procedure if one has been established by the Board. 

(b) Securities Laws Restrictions. The Director represents that when the Director exercises the Option he will be purchasing Option Shares for
the Director’s own account and not on behalf of others. The Director understands and acknowledges that federal and state securities laws govern and restrict the Director’s right to offer, sell or otherwise dispose of any Option Shares
unless the Director’s offer, sale or other disposition thereof is registered under the Securities Act and state securities laws or, in the opinion of the Company’s counsel, such offer, sale or other disposition is exempt from registration
thereunder. The Director agrees that he will not offer, sell or otherwise dispose of any Option Shares in any manner which would: (i) require the Company to file any registration statement (or similar filing under state law) with the Securities
and Exchange Commission or to amend or supplement any such filing or (ii) violate or cause the Company to violate the Securities Act, the rules and regulations promulgated thereunder or any other state or federal law. The Director further
understands that the certificates for any Option Shares the Director purchases will bear the legend set forth in Section 4 hereof or such other legends as the Company deems necessary or desirable in connection with the Securities Act or other
rules, regulations or laws. 
 (c) Non-Transferability of Option. The Option is personal to the Director and is not transferable by
the Director. Only the Director shall be entitled to exercise the Option; provided that, in the event of the Director’s death, the Option may be exercised only (i) by the executor or administrator of the Director’s estate or
the Person or Persons to whom the Director’s rights under the 

  

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Option shall pass by will or the laws of descent and distribution and (ii) to the extent that the Director was entitled to exercise the Option hereunder
at the date of his death. In the event of an exercise of the Option by a Person other than the Director pursuant to the proviso in the preceding sentence, all references in this Agreement to actions to be taken and representations to be made by the
Director in connection with such exercise shall be deemed to be references to such Person. 
 (d) Conformity with Plan. The Option and
the Option Shares are intended to conform in all respects with, and be subject to all applicable provisions of, the Plan, which is hereby incorporated herein by reference in its entirety. Inconsistencies between this Agreement and the Plan shall be
resolved in accordance with the terms of this Agreement, but only to the extent of such inconsistencies. By executing this Agreement, the Director acknowledges his receipt of this Agreement and the Plan and agrees to be bound by all of the terms of
this Agreement and the Plan. 
 (e) Rights of Participants. Except as expressly provided herein, nothing in this Agreement shall
interfere with or limit in any way the ability of the Director to be removed from the Board for any reason by the stockholders of the Company (pursuant to the Stockholders Agreement or otherwise) nor confer upon the Director any right to continue as
a member of the Board for any period of time, and, in the event of cessation of Director as a member of the Board, the Option, if not previously vested and exercisable, will be forfeited. Nothing in this Agreement shall confer upon the Director any
right to be selected again as a Plan participant. 
 (f) Withholding of Taxes. The Company shall be entitled, if necessary or
desirable, to withhold from the Director from any amounts due and payable by the Company to the Director (or secure payment from the Director in lieu of withholding) the amount of any withholding or other tax due from the Company with respect to any
Option Shares issuable hereunder, and the Company may defer such issuance unless indemnified by the Director to its satisfaction. 
 2.
Repurchase Option. 
 (a) In the event the Director ceases to be a member of the Board for any reason (the
“Termination”), the Director Securities (whether held by the Director or one or more of the Director’s Permitted Transferees (as defined in the Stockholders Agreement) will be subject to repurchase by the Company and the
holders of Investor Shares pursuant to the terms and conditions set forth in this Section 2 (the “Repurchase Option”). The Repurchase Option for any Director Securities shall become effective on the later of the date the
Director has held the Director Shares for six months or the date of the Termination (the “Repurchase Date”). 
 (b) If the
Director ceases to be a director of the Company for any reason, the purchase price for the Director Securities shall be the Fair Market Value thereof on the Repurchase Date. 
 (c) The Company may elect to purchase all or any portion of the Director Securities by delivering written notice (the “Repurchase
Notice”) to the holder or holders of Director Securities within 60 days after the Repurchase Date. The Repurchase Notice will set forth the Director Securities to be acquired from each holder, the aggregate consideration to be paid for such
Director Securities and the time and place for the closing of the transaction. The number of Director 

  

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Securities to be repurchased by the Company shall first be satisfied, to the extent possible, from the Director Securities held by the Director at the time
of delivery of the Repurchase Notice. If the number of Director Securities then held by the Director is less than the total number of Director Securities which the Company has elected to purchase, the Company shall purchase the remaining Director
Securities elected to be purchased from the other holder(s) of Director Securities under this Agreement, pro rata according to the number of Director Securities held by such other holder(s) at the time of delivery of such Repurchase Notice
(determined as nearly as practicable to the nearest whole share). 
 (d) If for any reason the Company does not elect to purchase all of the
Director Securities pursuant to the Repurchase Option, the holders of Investor Shares shall be entitled to exercise the Repurchase Option for the Director Securities which the Company has not elected to purchase (the “Available
Shares”). As soon as reasonably practicable after the Company has determined that there will be Available Shares, but in any event within 60 days after the Repurchase Date, the Company shall give written notice (the “Option
Notice”) to each of the holders of Investor Shares setting forth the number of Available Shares and the purchase price for the Available Shares. Each holder of Investor Shares may elect to purchase any or all of the Available Shares by
giving written notice to the Company within 60 days after the Option Notice has been delivered to such holder of Investor Shares by the Company. In the event that the holders of Investor Shares elect to purchase more Available Shares than are
available, then the number of Available Shares to be purchased by each such holder that has elected to purchase more than its pro rata share of Available Shares (based upon the number of shares of Investor Shares held by all such holders of Investor
Shares) shall be reduced on a pro rata basis in proportion to the number of Investor Shares held by all holders that have elected to purchase more than their pro rata share that are not owned by such holder. As soon as practicable, and in any event
within five (5) days after the expiration of such 60-day period, the Company shall notify each holder of Director Securities as to the number of Director Securities being purchased from such holder by each holder of Investor Shares (the
“Supplemental Repurchase Notice”) exercising the Repurchase Option setting forth the number of Director Securities which such holder of Investor Shares is entitled to purchase, the aggregate purchase price for such Director
Securities and the time and place of the closing of the transaction. 
 (e) The closing of the purchase of the Director Securities pursuant
to the Repurchase Option shall take place on the date designated by the Company in the Repurchase Notice or Supplemental Repurchase Notice, which date shall not be more than 45 days nor less than five (5) days after the delivery of such notice.
The Company and/or the holders of Investor Shares, as the case may be, will pay for the Director Securities to be purchased pursuant to the Repurchase Option by delivery of a check or wire transfer of funds to the holders of the Director Securities.
The Company and the holders of Investor Shares will be entitled to receive customary representations and warranties from the sellers regarding such sale and to require all sellers’ signatures be guaranteed. 
 (f) Notwithstanding anything to the contrary contained in this Agreement, the Company’s exercise of the Repurchase Option shall be subject to
applicable restrictions contained in applicable law and in the Company’s and its Subsidiaries’ debt and equity financing agreements. If any such restrictions prohibit the repurchase of Director Securities hereunder which the Company is
otherwise required to make or create a default thereunder, the time periods provided in this Section 2 shall be suspended, and the Company may make such repurchases under this Section 2 as soon as it 

  

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is permitted to do so under such restrictions (and the Company shall inform the Director of such restrictions in the Repurchase Notice) and shall consummate
such repurchase of Director Securities promptly following the cessation of all such restrictions thereon (by giving the holder or holders of Director Securities a new Repurchase Notice). 
 (g) The right of the Company and the holders of Investor Shares to repurchase Director Securities pursuant to this Section 2 shall terminate upon
the consummation of a Public Offering. 
 3. Sale of the Company. 
 (a) If a Sale of the Company is approved in accordance with Section 7 of the Stockholders Agreement (an “Approved Sale”), each
holder of Director Securities shall vote for, consent to and raise no objections against such Approved Sale. If the Approved Sale is structured as a (i) merger or consolidation, the holders of Director Securities shall waive any dissenters
rights, appraisal rights or similar rights in connection with such merger or consolidation or (ii) sale of stock, the holders of Director Securities shall agree to sell all of their Option Shares and rights to acquire Option Shares on the terms
and conditions approved by the Supermajority Vote (as defined in the Stockholders Agreement). The Director shall take all necessary or desirable actions in connection with the consummation of the Approved Sale as requested by the Person(s) entitled
to request the stockholders to take such actions pursuant to the Stockholders Agreement. 
 (b) If the Company or the holders of the
Company’s securities enter into any negotiation or transaction for which Rule 506 (or any similar rule then in effect) promulgated under the 1933 Act by the Securities Exchange Commission may be available with respect to such negotiation
or transaction (including a merger, consolidation or other reorganization), the Director, together with the Company’s other senior management employees or directors which have entered into Stock Option Agreements with the Company (such other
senior management employees or directors, the “Other Executives”), shall at the request of the Company, appoint a “purchaser representative” (as such term is defined in Rule 501 under the 1933 Act) reasonably
acceptable to the Company. If the Director and the Other Executives appoint a purchaser representative designated by the Company, the Company shall pay the fees of such purchaser representative. However, if the Director or any Other Executive
declines to appoint the purchaser representative designated by the Company, the Director or such Other Executive, as the case may be, shall appoint another purchaser representative (reasonably acceptable to the Company), and such person shall be
responsible for the fees of the purchaser representative so appointed unless such person is an Accredited Investor (as defined in Rule 501). 
 4. Legend. Each certificate evidencing Director Securities and each certificate issued in exchange for or upon the transfer of any Director Securities (if such shares remain Director Securities as defined herein after such transfer)
shall be stamped or otherwise imprinted with a legend in substantially the following form: 
 “THE SECURITIES REPRESENTED BY THIS
CERTIFICATE ARE ALSO SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER, REPURCHASE OPTIONS AND CERTAIN OTHER RESTRICTIONS 

  

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SPECIFIED IN (1) A STOCK OPTION AGREEMENT, DATED AS OF FEBRUARY 23, 2006, AS AMENDED AND MODIFIED FROM TIME TO TIME, BETWEEN THE ISSUER (THE
“COMPANY”) AND RICHARD K. WHITNEY, AND (2) AN AMENDED AND RESTATED STOCKHOLDERS AGREEMENT, DATED AS OF MARCH 25, 2003, AS AMENDED AND MODIFIED FROM TIME TO TIME, BETWEEN THE COMPANY AND CERTAIN OF ITS STOCKHOLDERS, AND THE
COMPANY RESERVES THE RIGHT TO REFUSE THE TRANSFER OF SUCH SECURITIES UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED WITH RESPECT TO SUCH TRANSFER. A COPY OF SUCH CONDITIONS SHALL BE FURNISHED BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST AND
WITHOUT CHARGE.” 
 The Company shall imprint such legend on certificates evidencing Director Securities. The legend set forth above shall be removed
from the certificates evidencing any shares which cease to be Director Securities in accordance with the definition thereof. 
 5.
Transfer. 
 (a) Director Securities shall be subject to the transfer restrictions set forth in, and may not be transferred except as
expressly permitted by, the Stockholders Agreement. 
 (b) Prior to transferring any Director Securities (other than in a Public Sale) to any
Person, the transferor shall cause the prospective transferee to execute and deliver to the Company a counterpart of this Agreement and the Stockholders Agreement. The Director acknowledges and agrees that the Director Securities are subject to the
restrictions on transfer set forth herein and therein. 
 (c) The Company will not be required (i) to transfer on its books any Director
Securities which have been sold or transferred in violation of any of the provisions set forth in this Agreement or the Stockholders Agreement, or (ii) to treat as owner of such shares, to accord the right to vote as such owner or to pay
dividends to any transferee to whom such shares have been transferred in violation of this Agreement or the Stockholders Agreement. 
 (d) To
the extent not inconsistent with applicable law, each holder of Director Securities shall not effect any public sale or distribution (including sales pursuant to Rule 144) of equity securities of the Company, or any securities, options or rights
convertible into or exchangeable or exercisable for such securities, during the period (the “LockUp Period”) prior to and after the effective date of any Public Offering that is agreed to by the underwriter managing such Public
Offering and the Company. 
 6. Director Representations. The Director hereby represents and warrants to the Company that (i) the
Option to be acquired by the Director pursuant to this Agreement and the Option Shares to be acquired upon exercise of the Option will be acquired for the Director’s own account and not with a view to, or intention of, distribution thereof in
violation of the Securities Act 

  

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or any applicable state securities laws, and the Director Securities shall not be disposed of in contravention of the Securities Act or any applicable state
securities laws, (ii) the Director is a member of the Board, is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Option Shares, (iii) the execution, delivery and performance of this
Agreement by the Director does not and will not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which the Director is a party or by which he is bound, and (iv) upon the
execution and delivery of this Agreement by the Company, this Agreement shall be the valid and binding obligation of the Director, enforceable in accordance with its terms. 
 7. Assumption of Obligations. The Director hereby agrees that, upon exercise of all or any portion of the Option, he shall become subject to all
of the rights and obligations and bound by all of the terms and conditions set forth in, and shall at such time become a party to, the Stockholders Agreement by executing a counterpart signature page thereto as an Executive and a Stockholder (as
such terms are defined in the Stockholders Agreement) under such Stockholders Agreement. 
 8. Definitions. 
 “Affiliate” of any particular Person means any other Person controlling, controlled by or under common control with such particular
Person, where “control” means the possession, directly or indirectly, of the power to direct the management and policies of a Person whether through the ownership of voting securities, contract or otherwise. 
 “Board” means the Company’s board of directors. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
 “Director Securities” means, collectively, all Option Shares issued with respect to the Option. Director Securities will continue to be Director Securities in the hands of any holder other than the Director (except for the
Company and except for transferees in a Public Sale), and except as otherwise provided herein, each such other holder of Director Securities will succeed to all rights and obligations attributable to the Director as a holder of Director Securities
hereunder. Director Securities will also include shares of the Company’s capital stock issued with respect to Director Securities by way of a stock split, stock dividend, recapitalization or otherwise. 
 “Fair Market Value” has the meaning assigned to such term in the Plan. 
 “Investors” means, collectively, Nassau Capital Partners II L.P., NAS Partners I, L.L.C., Acacia Venture Partners, L.P., South Pointe
Venture Partners, L.P., New Enterprise Associates, Limited Partnership, New Enterprise Associates VIII, Limited Partnership, NEA Ventures 1998, L.P., NEA Presidents Fund, L.P., New Enterprise Associates 10, Limited Partnership, New Enterprise
Associates 8A, Limited Partnership, Charles Linehan, Frazier Healthcare IV, L.P., Frazier Affiliates IV, L.P., Prospect Venture Partners II, L.P., and Prospect Associates II, L.P. 
  

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 “Original Cost” means, with respect to each Option Share the Option Price in effect at
the time of exercise of the Option with respect such Option Share (as proportionately adjusted for all stock splits, stock dividends, reverse stock splits, and other recapitalizations subsequent to the exercise of the Option with respect to such
Option Share). 
 “Person” means an individual, a partnership, a corporation, a limited liability company, an association, a
joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 
 “Public Offering” means the sale in a bona fide underwritten public offering registered under the Securities Act of shares of the Company’s equity securities approved by the Board. 
 “Public Sale” means any sale pursuant to a registered public offering under the Securities Act or any sale to the public pursuant to
Rule 144 or Rule 144A promulgated under the Securities Act effected through a broker, dealer or market maker. 
 “Sale of the
Company” means (a) any sale of all or substantially all (as described in the commentary to the Model Business Corporation Act) of the assets of the Company and its subsidiaries on a consolidated basis in one transaction or series of
related transactions (but excluding sales to Affiliates), (b) any sale of all or substantially all of the Common Stock in one transaction or series of related transactions or (c) a merger or consolidation, exchange of capital stock, or
other transaction which accomplishes one of the foregoing. 
 “Securities Act” means the Securities Act of 1933, as amended
from time to time. 
 “Stockholders Agreement” means the Second Amended and Restated Stockholders Agreement, dated as of
March 25, 2003, by and among the Company and certain of its stockholders named therein, as amended from time to time in accordance with its terms. 
 “Stockholder Shares” has the meaning assigned to such term in the Stockholders Agreement. 
 “Subsidiary” means, with respect to any Person, any corporation, partnership, association or other business entity of which (i) if a corporation, a majority of the total voting power of shares of stock entitled
(without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that
Person or a combination thereof, or (ii) if a partnership, association or other business entity, a majority of the partnership or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by any Person
or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a partnership, association or other business entity if such Person or Persons
shall be allocated a majority of partnership, association or other business entity gains or losses or shall be or control any managing director or general partner of such partnership, association or other business entity. 
  

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 9. Notices. All notices, demands or other communications to be given or delivered under or by
reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given when delivered personally to the recipient, one (1) business day after being sent to the recipient by reputable overnight courier service
(charges prepaid), upon machine-generated acknowledgment of receipt after transmittal by facsimile or on the date of actual receipt, if mailed to the recipient by certified or registered mail, return receipt requested and postage prepaid. Such
notices, demands and other communications shall be sent to the Company and the Director at the addresses indicated below or to such other address or to the attention of such other person as the receipt party has specified by prior written notice to
the sending party. 
 If to the Company: 
 CHG Healthcare Services, Inc. 
 4021 South 700 East 
 Suite 300 
 Salt Lake City, UT 84107

 Attention: Sean Dailey, Chief Financial Officer 
 with a copy (which shall not constitute notice) to: 
 New Enterprise Associates 
 2490 Sand Hill Road 
 Menlo Park, CA 94025

 Attention: Charles M. Linehan 
 Telephone: (650) 854-9499 
 Facsimile: (650) 854-9397 
 and 
 King & Spalding LLP

 1100 Louisiana, Suite 4000 
 Houston, TX 77002 
 Attention: James H. Wilson 
 to the Director: 
 Richard K. Whitney 
 624 9th Street

 Manhattan Beach, California 90266 
 or to such
other address or to the attention of such other person as the recipient party has specified by prior written notice to the sending party. 
 10. Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or
unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other 

  

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provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or
unenforceable provision had never been contained herein. 
 11. Complete Agreement. Except as otherwise expressly set forth herein,
this document, together with the Plan, embodies the complete agreement and understanding among the parties hereto with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements or representations by or
among the parties, written or oral, which may have related to the subject matter hereof in any way. 
 12. Counterparts. This
Agreement may be executed in separate counterparts, each of which is deemed to be an original and all of which taken together constitute one and the same agreement. 
 13. Successors and Assigns. This Agreement is intended to bind and inure to the benefit of and be enforceable by the Director, the Company, and their respective heirs, successors and assigns, except that the
Director may not assign his rights or delegate his obligations hereunder without the prior written consent of the Company. 
 14.
Governing Law. The corporate law of Delaware shall govern all issues and questions concerning the relative rights and obligations of the Company and its stockholders. All other questions concerning the construction, validity and
interpretation of this Agreement shall be governed by, and construed in accordance with, the internal laws of the State of Delaware, without giving effect to any choice of law or other conflict of law, provision or rule (whether of the State of
Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware. 
 15.
Amendment and Waiver. Except as otherwise set forth herein and in the Plan, the provisions of this Agreement may be amended or waived only with the prior written consent of the Company and the Director, and no course of conduct or failure or
delay in enforcing the provisions of this Agreement shall affect the validity, binding effect or enforceability of this Agreement. 
 16.
Remedies. Each of the parties to this Agreement will be entitled to enforce its rights under this Agreement specifically, to recover damages and costs (including reasonable attorney’s fees) caused by any breach of any provision of this
Agreement and to exercise all other rights existing in its favor. The parties hereto agree and acknowledge that money damages may not be an adequate remedy for any breach of the provisions of this Agreement and that any party may in its sole
discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or deposit) for specific performance and/or other injunctive relief in order to enforce or prevent any violations of the provisions of this Agreement.

 17. Descriptive Headings. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part
of this Agreement. 
  

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 18. No Strict Construction. The parties to this Agreement have participated jointly in the
negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by such parties, and no presumption or burden of proof shall arise favoring
or disfavoring any such party by virtue of the authorship of any of the provisions of this Agreement. 
 19. Decisions by Board.
Notwithstanding anything contained herein or in the Plan to the contrary, all actions, decisions and determinations of the Board under this Agreement with respect to the Director shall be made by the members of the Board other than the Director, and
Director shall have no right to be involved or consulted in such action, decision or determination. 
     *
    *     *     *     * 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Stock Option Agreement on the day and year
first above written. 
  

			
	CHG HEALTHCARE SERVICES, INC.
		
	By:	 	  



			
	 Name:
	 	
	 Title:
	 	
	
	  
	 RICHARD K. WHITNEY



  

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 IN WITNESS WHEREOF, the parties hereto have executed this Stock Option Agreement on the day and year
first above written. 
  

			
	CHG HEALTHCARE SERVICES, INC.
		
	By:	 	  



			
	 Name:
	 	
	 Title:
	 	
	
	  
	RICHARD K. WHITNEY


  

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