# EDGAR Filing Document

**Accession Number:** 0001393584
**File Stem:** 0001193125-26-001087
**Filing Date:** 2026-1
**Character Count:** 77515
**Document Hash:** 1d5714b430e81e2c9aefac3db0d75fad
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-001087.hdr.sgml**: 20260102

**ACCESSION NUMBER**: 0001193125-26-001087

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 20

**CONFORMED PERIOD OF REPORT**: 20251224

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260102

**DATE AS OF CHANGE**: 20260102

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** American Well Corp
- **CENTRAL INDEX KEY:** 0001393584
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-BUSINESS SERVICES, NEC [7389]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39515
- **FILM NUMBER:** 26503178

**BUSINESS ADDRESS:**
- **STREET 1:** 75 STATE STREET
- **STREET 2:** 26TH FLOOR
- **CITY:** Boston
- **STATE:** MA
- **ZIP:** 02109
- **BUSINESS PHONE:** 617-205-3500

**MAIL ADDRESS:**
- **STREET 1:** 75 STATE STREET
- **STREET 2:** 26TH FLOOR
- **CITY:** Boston
- **STATE:** MA
- **ZIP:** 02109

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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## FORM 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** December 24, 2025<br>

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American Well Corporation

**(Exact name of Registrant as Specified in Its Charter)**

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---

| | | |
|:---|:---|:---|
| Delaware | 001-39515 | 20-5009396 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 75 State Street<br>26th Floor |  |  |
| Boston**,** Massachusetts |  | 02109 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code:** 617 204-3500<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Class A Common Stock, $0.01 Par Value | AMWL | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

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 13(a) of the Exchange Act. ☐

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## Item 1.01 Entry into a Material Definitive Agreement.
On December 24, 2025, American Well Corporation (the "Company") entered into an amendment to extend its Master Services Agreement dated January 1, 2023 (the "MSA") with Elevance Health, Inc. f/n/a/ Anthem Inc. ("Elevance Health"); and on December 25, 2025 entered into a related Statement of Work updating the Company's Healthy Impact service offerings (the "Healthy Impact SOW"), effective as of January 1, 2026. The Statement of Work dated January 1, 2023 (together with the Healthy Impact SOW and the MSA, the "Agreements") automatically renewed January 1, 2026 for an additional annual term, which extend the parties' partnership. Pursuant to the Agreements, we operate a white-labelled digital care delivery platform on behalf of Elevance Health under the brand name LiveHealth Online<sup>®</sup>. Elevance Health is obligated to pay us annual subscription fees and may engage us for certain mutually agreed upon professional services, development, innovation and engagement marketing services.

Each of the MSA and the Healthy Impact SOW has a term of 3 years, commencing on January 1, 2026 and ending on January 1, 2029, and thereafter automatically renews for successive one-year terms unless terminated by either party. Each party may terminate each of Agreements after the lapse of a cure period for material breaches of the applicable Agreement by the other party, upon the bankruptcy or insolvency of the other party, and in the case of Elevance Health, upon a breach by the Company of certain security or confidentiality provisions, the occurrence of certain change-of-control transactions, or at its convenience upon 365 days' advance written notice to Company.

In addition, on December 24, 2025, Online Care Group, PC ("OCG"), the Company's clinical partner, entered into amendments to two provider agreements (collectively, the "Provider Agreement Amendments") with Elevance Health related entities, which extend the parties' partnership. Pursuant to the Provider Agreement Amendments, OCG will continue to provide prioritized access to a 50-state network of clinical professionals who will provide digital care consultations to Elevance Health members via the LiveHealth Online platform in consideration for access and per consultation fees. The terms of the Provider Agreements were extended for a period of 3 years, commencing on January 1, 2026 and ending on January 1, 2029, and thereafter automatically renew for successive one-year terms unless terminated by either party. Either party may terminate the Provider Agreements for convenience upon 365 days' prior written notice to the other party. In addition, either party may terminate the Provider Agreements upon the termination of the MSA or the applicable SOW, the other party's bankruptcy, or occurrence of other specified events.

The foregoing description of the MSA, Healthy Impact SOW, and Provider Agreement Amendments do not purport to be complete and is qualified in its entirety by reference to the full text of the Agreements and the Provider Agreement Amendments, which are attached as Exhibits 10.1, 10.2, 10.3 and 10.4 hereto.

## Item 9.01 Financial Statements and Exhibits.
(d) <u>Exhibits</u>. The following exhibits are being filed herewith:

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| | |
|:---|:---|
| 10.1\*† | [<u>Amendment to Master Services Agreement, dated as of December 24, 2025, by and between American Well Corporation and Elevance Health, Inc.</u>](amwl-ex10_1.htm) |
| 10.2\* | [<u>Statement of Work, dated as of December 25, 2025, by and between American Well Corporation and Elevance Health, Inc.</u>](amwl-ex10_2.htm) |
| 10.3\* | [<u>Amendment to Provider Agreement, dated as of December 24, 2025, by and between Blue Cross of California doing business as Anthem Blue Cross and Online Care Group, P.C</u>](amwl-ex10_3.htm) |
| 10.4\* | [<u>Amendment to Provider Agreement, dated as of December 24, 2025, by and between Rocky Mountain Hospital and Medical Service, Inc., doing business as Anthem Blue Cross and Blue Shield and HMO Colorado, Inc. doing business as HMO Colorado, Anthem Health Plans, Inc. doing business as Anthem Blue Cross and Blue Shield, Anthem Insurance Companies, Inc. and Blue Cross Blue Shield Healthcare Plan of Georgia, Inc. d/b/a Anthem Blue Cross and Blue Shield, Anthem Insurance Companies, Inc. doing business as Anthem Blue Cross and Blue Shield, Anthem Health Plans of Kentucky, Inc. d/b/a Anthem Blue Cross and Blue Shield, Anthem Health Plans of Maine, Inc. doing business as Anthem Blue Cross and Blue Shield, RightCHOICE Managed Care, Inc., Anthem Health Plans of New Hampshire, Inc. doing business as Anthem Blue Cross and Blue Shield and Matthew Thornton Health Plan, Inc., Rocky Mountain Hospital and Medical Service, Inc. doing business as Anthem Blue Cross and Blue Shield and HMO Colorado, Inc. doing business as HMO Nevada, Empire Health Choice HMO, Inc. (d/b/a Empire BlueCross BlueShield HMO or Empire Blue Cross HMO) and Empire Health Choice Assurance, Inc. (d/b/a Empire BlueCross BlueShield or Empire Blue Cross), Community Insurance Company doing business as Anthem Blue Cross and Blue Shield, Anthem Health Plans of Virginia, Inc. doing business as Anthem Blue Cross and Blue Shield, Blue Cross Blue Shield of Wisconsin doing business as Anthem Blue Cross and Blue Shield ("Anthem") and Online Care Group, P.C</u>](amwl-ex10_4.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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\* Portions of this exhibit have been redacted pursuant to Item 601(b)(10) of Regulation S-K. Such redacted terms are those that the Company customarily and actually treats as private or confidential and are not material.

† Exhibits and schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K and will be provided on a supplemental basis to the Securities and Exchange Commission upon request.

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  |  | AMERICAN WELL CORPORATION |
| Date: | January 2, 2026 | By:  | /s/ Anna Nesterova |
|  |  |  | Anna Nesterova<br>Deputy General Counsel, Head of Legal |

---

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## Exhibit 10.1

**Exhibit 10.1**

Fifth Amendment to

The Master Services Agreement

Between Elevance Health and American Well Corporation

This Fifth Amendment ("Amendment") dated and effective as of January 01, 2026 ("Amendment Effective Date") is by and between Elevance Health, Inc., on behalf of itself and its Affiliates ("Elevance Health") and American Well Corporation ("Supplier") and amends that certain Master Services Agreement between the parties dated January 01, 2023 (the "Agreement").

RECITALS

WHEREAS, the Parties desire to amend the Master Services Agreement to update the Contract Term, Medicaid Exhibits, Required Information Security Controls (RISC) Exhibit, and add a provision pertaining to Artificial Intelligence (AI).

AGREEMENT

NOW, THEREFORE, in consideration of the mutual promises and undertakings described in this Amendment, the parties, intending to be legally bound, hereby agree to amend the Agreement as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Conflict of Terms, Definitions</u>. In the event of a conflict between the terms of this Amendment and the terms of the Agreement, the terms of this Amendment shall control. Unless otherwise specified in this Amendment, all capitalized terms shall have the meaning given to them in the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Term</u>. Section 7 Term: Termination is deleted in its entirety and replaced with the below Section 7 in <u>Attachment 1</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Medicaid Exhibits.</u> All States Medicaid Exhibits link is updated with Exhibit E in <u>Attachment 1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Artificial Intelligence.</u> Section 18-Artificial Intelligence provision in <u>Attachment 1</u> is hereby added to the Agreement.

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>RISC Exhibit</u>. Exhibit A-RISC is deleted in its entirety and replaced with the following Exhibit A-RISC in <u>Attachment 1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>No Other Modifications</u>. Except as provided herein, the terms and conditions of the Agreement shall remain the same, in full force and effect.

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

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IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed as of the Amendment Effective Date indicated above.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Well Corporation | &nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Elevance Health  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Anna Nesterova | &nbsp;&nbsp;&nbsp;&nbsp;/s/ Chad R Frost |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature | &nbsp;&nbsp;&nbsp;&nbsp;Signature |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anna Nesterova | &nbsp;&nbsp;&nbsp;&nbsp;Chad R Frost |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Printed Name | &nbsp;&nbsp;&nbsp;&nbsp;Printed Name |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deputy General Counsel, Head of Legal | &nbsp;&nbsp;&nbsp;&nbsp;Director, Strategic Sourcing |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title | &nbsp;&nbsp;&nbsp;&nbsp;Title |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12-23-2025 | &nbsp;&nbsp;&nbsp;&nbsp;12/24/2025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date | &nbsp;&nbsp;&nbsp;&nbsp;Date |

---

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

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ATTACHMENT 1

<u>TERM; TERMINATION</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 <u>Agreement</u>. The term of this Agreement shall begin on January 1, 2026 and shall end January 1, 2029 unless earlier terminated in accordance with this Agreement (the "Initial Term"). Upon expiration of the Initial Term, this Agreement will automatically renew for successive one (1) year terms (each an "Extension Term", and collectively, the "Term"), unless either party provides the other with notice of its intent to terminate pursuant to Section 7.4, provided however, that upon expiration, any SOW(s) then in effect that have specified a term longer than the Term stated above shall continue to be subject to the terms and conditions contained in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 <u>Termination for Supplier's Breach</u>. Elevance Health, in its sole discretion, may suspend or terminate the entire Agreement or any one or all Statements of Work (i) immediately upon a Security Incident, if Supplier is in breach of Sections 9 (Security), 10 (Confidentiality), or (ii) upon thirty (30) days written notice and opportunity to cure in the event of a material breach by Supplier if Supplier has not remedied such breach within thirty (30) days of its receipt of written Notice from Elevance Health of such breach. Should Supplier again materially breach the Agreement in substantially the same manner as a prior material breach by Supplier within one (1) year of such prior material breach, Elevance Health may terminate any or all Statements of Work or this entire Agreement upon no less than ten (10) business days written notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 <u>Termination for Elevance Health's Breach</u>. Subject to the following sentence, Supplier may terminate a SOW upon written notice in the event of a material breach of such SOW by Elevance Health or an Elevance Health Affiliate if Elevance Health or an Elevance Health Affiliate has not remedied such breach within thirty (30) days of its receipt of written notice from Supplier of such breach. Prior to issuing any notice of termination and within the thirty day cure period, Supplier shall escalate the matter to Elevance Health executives pursuant to the informal dispute resolution procedures set forth in Section 16 (Dispute Resolution).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 <u>Termination for Convenience</u>. Elevance Health may terminate this Agreement or any one or all Statements of Work issued hereunder, in whole or in part, for any or no reason upon three hundred sixty-five (365) days' advance written notice to Supplier.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 <u>Termination Due to Insolvency</u>. Either Party may terminate this Agreement or any SOW immediately upon the occurrence of any of the following events with respect to the other Party: (a) the other Party becomes insolvent, generally unable to pay its debts as they become due, or makes an assignment for the benefit of its creditors or seeks relief under any bankruptcy, insolvency or debtor's relief law; (b) if proceedings are commenced against the other Party under any bankruptcy, insolvency or debtor's relief law, and such proceedings have not been vacated or set aside within sixty (60) days from the date of commencement thereof; (c) a receiver is appointed for the other Party or its material assets; or (d) if the other Party is liquidated, dissolved or ceases operations.

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6 <u>Termination Upon Change of Control of Supplier Involving Elevance Health Competitor</u>. If a change in Control of Supplier occurs, such that Supplier is controlled by an Elevance Health Competitor, then Elevance Health may at its option, terminate this Agreement or any SOW, in whole or in part, by giving Supplier at least thirty (30) days' prior written notice and designating a date upon which such termination will be effective. Any such notice must be given within six (6) months of Supplier's provision of written notice to Elevance Health of such change in Control. For this purpose, "Control" and its derivatives means the legal, beneficial or equitable ownership, directly or indirectly, of at least fifty percent (50%) of the aggregate of all voting equity interests in an entity or equity interests having the right to at least fifty percent (50%) of the profits of Supplier or, in the event of dissolution, to at least fifty percent (50%) of the assets of an entity and, if Supplier is a partnership, also includes the holding by an entity of the position of sole general partner in Supplier.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7 <u>Effect of Termination or Expiration</u>. In the event that Elevance Health terminates a SOW pursuant to the terms contained in such SOW, Elevance Health may, in its sole discretion, simultaneously terminate other Statements of Work materially and adversely affected by such termination or expiration. Notwithstanding the foregoing, the termination of a particular SOW, or portion of a SOW, shall not result in the termination of the Agreement unless such termination explicitly provides for termination of the entire Agreement between the Parties. However, termination of the Agreement shall serve to terminate all Statements of Work unless such notice of termination specifies otherwise. All sections identified as surviving the termination of a SOW, as well as Sections 3.5 (Record Retention), 4 (Services), 8 (Intellectual Property Ownership), 9 (Security), 10 (Confidentiality), 13 (Indemnification), 14 (Limitation of Liability) and 16 (Dispute Resolution) inclusive, shall survive the expiration or termination of the Agreement. In the event of termination for any reason of any SOW, Elevance Health shall pay Supplier any undisputed Fees and/or expenses owed in accordance with such SOW up to the effective date of termination. If the Agreement includes Deliverables, Supplier shall promptly deliver such Deliverables, in whatever stage of completion, to Elevance Health. The return or destruction of Confidential Information upon termination is addressed in Section 10.5 of the original MSA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8 <u>Continuity of Care.</u> If Online Care Group, PC (including its affiliates, "Amwell Medical Group") is required either by applicable law or by contract with Elevance Health or its Affiliate(s) to continue delivery of care to Elevance Health members for any period after the date of termination of this Agreement or any applicable SOW (the "Continuity of Care Period"), then notwithstanding the termination date or anything to the contrary, Elevance Health will be deemed to have invoked Section 4.11 (Transition Assistance) of the Agreement and the terms of such SOW and this Agreement will continue in effect during the Continuity of Care Period. During any such Continuity of Care Period, Supplier shall continue performing the Services under such SOW and the Agreement, as applicable, and Elevance Health shall continue to pay Supplier the fees for the Services at the existing SOW rate until the Continuity of Care Period expires.

EXHIBIT "E"

STATE MEDICAID ATTACHMENTS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[\*\*]

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

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<u>Section 18</u> <u>Artificial Intelligence</u> 

<u>Artificial Intelligence:</u> The Parties agree to work in good faith to negotiate and finalize mutually acceptable terms governing Vendor's use of AI Technologies in delivering the Services and Deliverables under this Agreement. Vendor and Elevance Health will use reasonable efforts to amend this Agreement to include such AI Technology-related provisions within ninety (90) days following the Effective Date, and upon approval of Elevance Health's governance committee process. "AI Technologies" means a system, application, algorithm, statistical model or other technology that can perform tasks that typically require human intelligence, including understanding natural language, recognizing patterns, solving problems, making predictions, making decisions and interpreting and processing data or that are prompted by inputs it receives to produce outputs, such as predictions, classifications, prescribed actions, content, recommendations or decisions. AI Technologies include: machine learning-based algorithms for health risk estimation; machine learning-based algorithms for claims or clinical request processing; machine learning-based algorithms for optimization of member engagement strategies; applications of neural networks and deep learning, evolutionary and genetic computation, reinforcement learning, and supervised or unsupervised machine learning; computer vision (e.g., object recognition, image understanding); speech and audio processing (e.g., speech recognition and production); natural language processing (e.g., machine translation, language generation); and audio and video manipulation technologies (e.g., voice cloning, deepfakes).

EXHIBIT A

# Required Information Security Controls Exhibit
[\*\*]

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

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## Exhibit 10.2

**Exhibit 10.2**

STATEMENT OF WORK

Healthy Impact

SUPPLIER: American Well Corporation ELEVANCE HEALTH

&nbsp;&nbsp;&nbsp;&nbsp;Contact: Legal Department Name: [\*\*]

Address: 75 State Street, Boston, MA 02090 Telephone No.: [\*\*]

Telephone No.: (617)204-3500

This Statement of Work ("SOW") is made pursuant to, and incorporates the terms of, the Master Services Agreement (the "Agreement") dated January 1, 2023, by and between Elevance Health, Inc. ("Company" or "Elevance Health"), and American Well Corporation ("Supplier" or "Vendor"). Capitalized terms used but not defined herein have the meaning ascribed to them in the Agreement.

Project Name: LHO – Healthy Impact

Project Start ("Effective Date") Date: 1/1/2026 Project End Date: 1/1/2029

I.Professional Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.During the period beginning on the Effective Date and ending on the Project End Date (the "Term"),

Elevance Health shall pay fees for the Professional Services on a time and materials basis at a blended rate ("Professional Services Rate") of [\*\*] per hour pursuant to a mutually agreed Statement of Work.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Elevance Health shall reimburse Vendor for those Elevance Health approved expenses (e.g., expenses for other printing costs or outsourced marketing services) incurred in connection with such Statement of Work as agreed in advance by the parties in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Vendor shall present appropriate receipts or other evidence of payment with its invoices regarding reimbursement of such expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Vendor shall not increase the Professional Services Rate prior to December 31, 2028. Thereafter, for any

Professional Services Statement of Work executed after December 31, 2028 and throughout the

Term any approved increases may not exceed the percentage increase in the Consumer Price Index-All Urban Consumers, U.S. City Average, Not Seasonally Adjusted, Base Period 1982-84=100 published by the United States Department of Labor's Bureau of Labor Statistics (the "CPI"), over the previous twelve (12) month period. If the CPI is no longer published at the relevant time, the parties shall designate the most closely comparable index. Annual rate increases can only be applied to a SOW executed 6 months or less prior to such increase and such increase shall apply only to work done after the effective date of such annual increase.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.Vendor shall provide Elevance Health with sixty (60) days' advance written notice of any price increases described in this Section.

II.Resale.

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

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&nbsp;&nbsp;&nbsp;&nbsp;a.Amwell hereby appoints Elevance Health as an authorized reseller of the third-party program services set forth in <u>Schedule 1</u> hereto, and Elevance Health may market and resell such programs to its employer clients (each, a "Company Client").

&nbsp;&nbsp;&nbsp;&nbsp;b.In the event that Elevance Health desires to resell the Online Care Service to another health plan or insurer, including the Health Impact programs described herein, the parties will meet and negotiate in good faith the terms and related fees due to Vendor resulting from such a transaction. For clarity, Elevance Health will not be able to consummate such a resale or other transaction with a health plan or insurer without Vendor's written

consent or an amendment to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;c.In the event that Elevance Health desires to resell employer service offerings developed by Vendor to Company Clients, Elevance Health may purchase such offerings from Vendor at the prices set forth on Schedule 1, attached hereto. In such a case, Vendor will bill Elevance Health in accordance with the terms in the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;d.In the event of a unique circumstance regarding a potential Elevance Health customer, the parties will meet and negotiate in good faith variations from the terms and related fees due under Schedule 1 hereto related to such a

transaction. For clarity, Elevance Health will not be able to consummate such a unique resale or other transaction without Vendor's written consent or an amendment to this Agreement.

III. Payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Except as expressly stated otherwise in Schedule 1 hereto, Elevance Health shall pay Vendor in accordance with the terms set forth in this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Upon receipt of a correct and undisputed invoice, Elevance Health shall pay the amounts in accordance with Elevance Health's then current payment policies (e.g. payment via the ACH electronic payment to Vendor's financial institution per instructions in Elevance Health's ACH electronic payment form).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Except as otherwise provided in a Statement of Work, all payments are due to Vendor within thirty (30) days of invoice date. All fees and charges are stated in United States Dollars. Any amounts payable pursuant to this Agreement are to be net to Vendor and shall not include taxes or other governmental charges or surcharges, if any. If any excise, use, property or other taxes, or any other governmental charges or surcharges (including, without limitation, interest, penalties and fines) are due or are assessed on or with respect to any amounts payable by Elevance Health pursuant to this Agreement (other than Vendor's income taxes), they will be the sole responsibility of and payable by Elevance Health. Elevance Health shall not be liable for the payment of taxes imposed upon Vendor or upon Vendor's personnel resources, including state and federal income taxes, franchise taxes, Social Security taxes, welfare taxes, unemployment contributions, disability insurance, training taxes and any prepayments, estimated payments, reports, or withholdings required for such taxes. Except as provided in Section 8 below, past due balances on the amounts due to Vendor pursuant to this Agreement shall be subject to an interest charge equal to (a) the lesser of one percent (1.0%) per month OR (b) the maximum rate not prohibited by applicable law, in each case, computed from the date fifty (50) days after invoice date of each payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Invoice Disputes. Elevance Health may withhold payment of good faith disputed invoiced amounts until no later than ninety (90) days after the date on which such withheld amounts are due if Elevance Health notifies Vendor within the original payment period that such amounts are disputed and are being withheld, along with a written statement specifying the portion of fees or expenses being withheld and

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

------

providing a reasonably detailed explanation of the reasons for withholding such fees or expenses. The parties shall negotiate expeditiously and in good faith to resolve any such dispute, and Elevance Health will pay all outstanding amounts as may be agreed by the parties in writing within thirty (30) days of the conclusion of such dispute resolution process, or within such ninety (90) day period, whichever concludes sooner, and no interest shall accrue on amounts withheld pursuant to this Section during the foregoing time period. Invoices which are not sent via the Elevance Health Invoice online tool shall automatically be deemed to be in dispute until the invoice is resubmitted via such online tool; provided that access to such online tool is available to Vendor.

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

------

This SOW shall be considered executed and fully agreed to by the authorized representatives of both Parties upon

Elevance Health's issuance of the purchase order associated with this contract through Elevance Health's Procurement Process Technology (Ariba) or upon signatures indicated below.

---

| | |
|:---|:---|
| &nbsp;&nbsp;American Well Corporation | &nbsp;&nbsp;Elevance Health, Inc. |
| &nbsp;&nbsp;Supplier | &nbsp;&nbsp;Elevance Health  |
| &nbsp;&nbsp;By: /s/ Anna Nesterova  | &nbsp;&nbsp;By: Peter J. Tamulonis |
| &nbsp;&nbsp;Signature | &nbsp;&nbsp;Signature |
| &nbsp;&nbsp;Anna Nesterova  | &nbsp;&nbsp;Peter J. Tamulonis |
| &nbsp;&nbsp;Printed Name | &nbsp;&nbsp;Printed Name |
| &nbsp;&nbsp;Deputy General Counsel, Head of Legal  | &nbsp;&nbsp;VP, Corporate Services |
| &nbsp;&nbsp;Title | &nbsp;&nbsp;Title |
| &nbsp;&nbsp;12-23-2025 | &nbsp;&nbsp;12/25/2025 |
| &nbsp;&nbsp;Date | &nbsp;&nbsp;Date |

---

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

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<u>Schedule 1</u> 

<u>Supplier Clinical Program Offerings</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Reseller Rates. The parties agree to the following reseller rates until December 31, 2028, provided that Vendor's third-party partners do not increase Vendor's rates for such programs in the interim period. If a Vendor third party partner increases its rates by more than 5% for one or more of the programs listed below, Vendor shall notify Elevance, and the Parties shall negotiate in good faith an adjustment to the rate(s) for impacted program(s). Any adjustments must be agreed by the parties in writing. During Year 2028, the parties will renegotiate the rates in good faith and memorialize their understanding via an amendment to the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Parties agree that rates quoted to a Company Client based on reseller rates listed below shall be valid for a period of 12 (twelve) months from the date a formal written proposal is presented to such Company Client. In addition, Vendor shall not change the pricing to Elevance Health with respect to a Company Client for the first year of the contract with such Company Client.

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Program or Service  | &nbsp;&nbsp;Description  | &nbsp;&nbsp;Sub program  | &nbsp;&nbsp;Pricing Method  | &nbsp;&nbsp;Wholesale Price  |
| &nbsp;&nbsp;Healthy <br>Impact <br>Offerings  | &nbsp;&nbsp;Direct to employer programs for health and wellness  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Healthy <br>Weight <br>•Healthy BP <br>•Tobacco <br>Free <br>  Diabetes <br>Prevention  | &nbsp;&nbsp;Per participant per year admin fee  | &nbsp;&nbsp;$[\*\*] HW <br>$[\*\*] HBP <br>$[\*\*] Tobacco Free <br>$[\*\*]/ milestone DPP  |
|  | &nbsp;&nbsp;MSK <br>Coaching <br>and digital <br>PT  | &nbsp;&nbsp;MSK and Pelvic Health <br>PT  | &nbsp;&nbsp;MSK and Pelvic Health PT are priced using milestones. The milestones may be billed as an admin fee per enrolled participant. (Also, based on client preference, the Milestones may be billed as claims using an agreed upon fee <br>schedule.) <br>Milestone definitions are included in Section 2 <br>herein  | &nbsp;&nbsp;See Section 2 below  |

---

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

------

Pricing may be modified on any program for a particular client as mutually agreed to by both parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.MSK and Pelvic Health PT

The MSK and Pelvic Health PT programs are offered to Company Clients with their choice of either event-based or outcomebased pricing models:

a.Definition of Event-Based Pricing Milestones 1-3

Below are event-based Milestones, triggered by a Participant's utilization of the Thrive and Move MSK programs and/or Bloom Pelvic Health program via the Sword digital platform (the "Digital Platform"). Vendor agrees to bill Elevance Health only for Milestones completed by Participants. For the purposes of the Thrive MSK program and the Bloom Pelvic Health program, the Parties agree that all Milestones listed below must be completed within 12 months from the date of completion of Milestone 1. Vendor shall not bill Elevance Health for more than 3 Milestones per Participant per year for the Thrive MSK program or Bloom Pelvic Health program. The program fees will not exceed (i) [\*\*]per Participant per year for the Move program specifically, and (ii) [\*\*]per Participant per year for any program or combination of programs that a Participant is enrolled in.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Event-Based Pricing  | &nbsp;&nbsp;Wholesale Price per Participant  | &nbsp;&nbsp;&nbsp;&nbsp;Includes  | &nbsp;&nbsp;&nbsp;&nbsp;Billing Trigger  |
| &nbsp;&nbsp;Milestone 1 (Thrive, Blom <br>& Move) <br>| &nbsp;&nbsp;&nbsp;&nbsp; [\*\*]<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•A live coaching session with a PT; or <br>&nbsp;&nbsp;&nbsp;&nbsp;•An exercise module with the Digital Platform  | &nbsp;&nbsp;&nbsp;&nbsp;Participant completes live coaching session or <br>1 exercise with the Digital Platform <br>|
| &nbsp;&nbsp;Milestone 2 <br>(Thrive & Bloom)  | &nbsp;&nbsp;&nbsp;&nbsp;[\*\*] | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•3 exercise modules with the Digital Platform <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Unlimited chat-based interactions with PT coach  | &nbsp;&nbsp;&nbsp;&nbsp;Participant completes 3 exercises with the Digital Platform  |

---

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

------

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Milestone 3 <br>(Thrive & Bloom)  | &nbsp;&nbsp;&nbsp;&nbsp;[\*\*] | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•6 exercise modules with the Digital Platform <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Unlimited chat-based interactions with a PT <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Additional exercise modules may be completed by Participants at no additional cost to Elevance Health  | &nbsp;&nbsp;&nbsp;&nbsp;Participant completes 9 exercises with the Digital Platform  |

---

b.Definition of Outcomes Based Pricing Milestones 1-2.

Below are outcomes-based Milestones, triggered by a Participant's utilization of the Thrive and Move MSK programs and/or Bloom Pelvic Health program. Vendor agrees to bill Elevance Health only for Milestones completed by Participants. For the purposes of the Thrive MSK and Bloom Pelvic Health programs, the Parties agree that Milestone 2 must be completed within 12 months from the date of completion of Milestone 1. Vendor shall not bill Elevance Health for more than 2 Milestones per

Participant per year for the Thrive MSK or Bloom Pelvic Health programs. The program fees will not exceed (i) [\*\*] per Participant per year for the Move program specifically, and (ii) [\*\*] per Participant per year for any program or combination of programs that a Participant is enrolled in.

---

| | | | |
|:---|:---|:---|:---|
| Outcome-based <br>Pricing  | Wholesale Price per <br>Participant  | Includes  | Billing Trigger  |
| Milestone 1 <br>(Thrive, Bloom, & <br>Move) <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[\*\*] | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•A live coaching session with a PT; or <br>&nbsp;&nbsp;&nbsp;&nbsp;•An exercise module with <br>the Digital Platform  | Participant completes live coaching session or 1 exercise with the Digital Platform  |
| Milestone 2 (Thrive & Bloom)  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[\*\*] | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Unlimited chat-based interactions with PT coach <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Additional exercise modules may be completed by <br> Participants at no <br>additional cost to <br>Elevance Health  | Participant has indicated to Vendor either (i) a "positive outcome" on the applicable clinically validated outcome measure\* used to periodically assess the impact of the applicable services on such Participant's focus area, or (ii) achievement of the goals established for the applicable service for the treatment of the Participant's focus area, whichever occurs first  |

---

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

------

\*Outcome measure: Vendor currently employs the Patient Global Impression of Change or "PGIC" scale to consistently assess outcomes using a validated 7-point Likert scale, as widely used in clinical research. This scale measures the

Participant's perception of change, where improvement is captured by responses indicating significant positive change (e.g., "very much improved") down to no change or worsening (e.g., "no improvement" or "worse"). A positive outcome is indicated if a Participant selects one of the top three positive choices out of the seven available choices. Vendor reserves the right to alter or change the outcome measure for one or more Services from time to time to reflect clinical best practices, enhance treatment assessment accuracy, or align with advancements in medical standards.

Aggregate Measurement Period Fee Cap for Outcome Based Pricing. For Outcome-Based Pricing, Sword guarantees that cumulative fees paid in each Measurement Period will not exceed [Period Fee Cap] x [# of Measurable Participants]. "Measurable Participant" for the Measurement Period Fee Cap means a Participant who has activated and has fees paid for Services in that Measurement Period. "Measurement Period" means the repeating period of twelve (12) months, where the initial Measurement Period shall commence on the later to occur of (i) the applicable launch date or (ii) the date the Solution and applicable Services are made available to Participants. <u>"</u>Period Fee Cap" during a given Measurement Period is:

[\*\*]if all Primary Services (Thrive, Bloom and Move) are continuously active and being marketed in accordance with the co-marketing plan; or

[\*\*]if at any time less than all Primary Services are active OR any Primary Services are not being marketed per the comarketing plan. 100% of any excess fees paid that exceed the Period Fee Cap (whether [\*\*]or [\*\*]) will be refunded.

Supplier agrees to offer and is responsible to refund and pay to Company Clients Supplier's standard performance guarantees for the MSK and Pelvic Health PT programs as set forth in Appendix 1 to this SOW. For the avoidance of doubt, Company will not be responsible, nor required, to refund to Company Client or Supplier any amounts resulting from performance guarantees not being met, regardless of whether or not performance guarantees are met. Supplier shall be responsible to refund Elevance Health the full amount due to Company Client as a result of any failure to meet the performance guarantee through a mutually agreed upon process, and Elevance Health shall refund said amount to Company Client.

Supplier and Elevance shall work in good faith to review performance standards for the third-party programs provided under this Schedule 1 and within 90 days from the date of the Effective Date put in place a corrective action framework, including penalties where deemed appropriate, for addressing any material or substantial deficiencies in the delivery of such third-party program services.

# [Remainder of page intentionally left blank.]

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

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## Exhibit 10.3

**Exhibit 10.3**

**FIFTH AMENDMENT TO THE ANTHEM BLUE**

**CROSS PROVIDER AGREEMENT**

This Amendment is to the Provider Agreement ("Agreement") dated January 1, 2023, and entered into between Blue Cross of California doing business as Anthem Blue Cross (hereinafter referred to as "Anthem") and Online Care Group,

P.C. (hereinafter "Provider") and is incorporated into the Agreement as follows:

**BASE PROVISIONS**

**ARTICLE VIII**

**TERM AND TERMINATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Provision 8.1 is hereby deleted in its entirety and replaced with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 <u>Term of Agreement</u>. This Agreement shall commence at 12:01 AM on January 1, 2026 for a term of

3 (three) year(s), January 1, 2026 until January 1, 2029 ("Initial Term"), and shall continue automatically in effect thereafter for consecutive one (1) year terms unless otherwise terminated as provided herein."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Provision 8.4.1.10 is hereby added to the Agreement as shown below:

The Master Services Agreement between Elevance Health and American Well dated January 1, 2023 (Vendor Agreement), or the Statement of Work between Elevance Health and American Well dated January 1, 2026 for the Converge Platform, terminates pursuant to Section 7 of the Vendor Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Provision 8.4.2.4 is hereby added to the Agreement as shown below:

The Master Services Agreement between Elevance Health and American Well dated January 1, 2023 (Vendor Agreement), or the Statement of Work between Elevance Health and American Well dated January 1, 2026 for the Converge Platform, terminates pursuant to Section 7 of the Vendor Agreement.

**PLAN COMPENSATION SCHEDULE PCS ATTACHMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The existing PCS Attachment to the Agreement is hereby deleted in its entirety and replaced with the PCS Attachment attached hereto.

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

------

Except as expressly set forth herein, nothing contained herein shall be construed to modify the Agreement. To the extent this Amendment conflicts with any provision of the Agreement, this Amendment shall control.

Each party to this Amendment warrants that it has full power and authority to enter into this Amendment and the person signing this Amendment on behalf of either party warrants that he/she has been duly authorized and empowered to enter into this Amendment.

## THE EFFECTIVE DATE OF THIS AMENDMENT IS: January 1, 2026
**PROVIDER LEGAL NAME: Online Care Group, P.C.**

By: <u>/s/ Anna Nesterova</u> <u>December 23, 2025</u> Signature, Authorized Representative of Provider(s) Date

Printed: <u>Anna Nesterova</u> <u>Vice President</u> Name Title

Address <u>75 State Street, 27th FL</u> <u>Boston MA 02109</u> Street City State Zip

Tax Identification Number (TIN):

Phone Number: <u>6172043500</u> 

Email Address: <u>contracts@amwell.com</u> 

## Blue Cross of California doing business as Anthem Blue Cross
By: <u>/s/ Salma Khaleq</u> <u>12-24-2025</u> 

Signature, Authorized Representative of Anthem Date

Printed: <u>Salma Khaleq</u> <u>Vice President</u> Name Title

Address <u>2505 N. Hwy 360</u> <u>Grand Prairie TX 75050</u> Street City State Zip

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

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# PCS Attachment
**Urgent Care and Behavioral Health - Commercial**

---

| | |
|:---|:---|
| <br>**CPT Code & Description** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rates 1/1/26 - 1/1/29** |
| &nbsp;&nbsp;&nbsp;**99422** NON-FACE TO FACE NEW & ESTABLISHED URGENT CARE/ACUTE VISIT (MD/DO, NP) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99204** OFFICE/OUTPATIENT VISIT NEW - PSYCH | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99213-GT** OFFICE/OUTPATIENT VISIT EST - PSYCH (follow-up, low complexity) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99214-GT** OFFICE/OUTPATIENT VISIT EST - PSYCH (follow-up, moderate complexity) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**90834** BH THERAPY - MIDLEVEL- LCSW, LPC, LMFT (And any other non-PhD/non-PsyD) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**90834-** BH THERAPY - PhD/ PsyD (Doctorate Level) | [\*\*] |

---

**Urgent Care and Behavioral Health - Medicare Advantage**

---

| | |
|:---|:---|
| <br>**CPT Code & Description** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rates 1/1/26 - 1/1/29** |
| &nbsp;&nbsp;&nbsp;**99422** NON-FACE TO FACE NEW & ESTABLISHED URGENT CARE/ACUTE VISIT (MD/DO, NP) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99204** OFFICE/OUTPATIENT VISIT NEW - PSYCH | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99213-GT** OFFICE/OUTPATIENT VISIT EST - PSYCH (follow-up, low complexity) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99214-GT** OFFICE/OUTPATIENT VISIT EST - PSYCH (follow-up, moderate complexity) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**90834** BH THERAPY - MIDLEVEL- LCSW, LPC, LMFT (And any other non-PhD/non-PsyD) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**90834-** BH THERAPY - PhD/ PsyD (Doctorate Level) | [\*\*] |

---

**National Accounts, Local, Large/Small Group Employers, etc.- Commercial Buy-Up/Benefit Programs**

---

| | |
|:---|:---|
| <br>**CPT Code & Description** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rates 1/1/26-**<br>**1/1/29** |
| &nbsp;&nbsp;&nbsp;**Diabetes Prevention Program (as aligned with Healthy Impact Offerings) 0488T-32**<br>-Milestone 1, 5% weight loss<br>-Milestone 2, after 1st visit with Provider<br>-Milestone 3, after 4th visit with Provider<br>-Milestone 4, after 8th visit with Provider | [\*\*] |
| &nbsp;&nbsp;&nbsp;**Dermatology (as aligned with Healthy Impact Offerings) 99423-GQ** Asynchronous new and established dermatoloqy visit | [\*\*] |
| &nbsp;&nbsp;&nbsp;**Musculoskeletal Services\***<br>**98975-32 Milestone 1 - Thrive & Bloom**<br>(One-time per program)<br>Live coaching session with a physical therapist<br>**98975-32 Milestone 1 - Move**<br>(One-time per program)<br>Live coachinq session with an exercise module with the Diqital Platform | [\*\*] |
| &nbsp;&nbsp;&nbsp;**Musculoskeletal Services\***<br>**97161-32 Milestone 2 - Thrive & Bloom**<br>Three exercise modules with Digital Platform and unlimited chat with physical therapist coach<br>Platform | [\*\*] |
| &nbsp;&nbsp;&nbsp;**Virtual Primary Care**<br>**99213** OFFICE/OUTPATIENT VISIT NEW - PRIMARY CARE ALL LEVELS (MD/DO, NP) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99385** OFFICE/OUTPATIENT VISIT ANNUAL WELLNESS 18-39 YEARS (Initial exam/new patient) (MD/DO, NP) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99395** OFFICE/OUTPATIENT VISIT ANNUAL WELLNESS 18-39 YEARS (Established patient) (MD/DO, NP) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99386** OFFICE/OUTPATIENT VISIT ANNUAL WELLNESS 40-64 YEARS (Initial exam/new patient) (MD/DO, NP) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99396** OFFICE/OUTPATIENT VISIT ANNUAL WELLNESS 40-64 YEARS (Established patient) (MD/DO, NP) | [\*\*] |

---

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

------

Programs listed below are also referenced in the Healthy Impact Statement of Work dated January 1, 2026, between Elevance Health, Inc. and American Well Corporation.

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

------

\*The Anthem Rate for Musculoskeletal Services (currently defined as 98975-32, Milestone 1 - 1st visit with Provider-Tech Kit & Marketing Engagement services and 97161-32, Milestone 2 - 3 exercises modules with digital platform & unlimited chat with PT coach Platform, Milestone 3 – 6 exercise modules with the digital platform & unlimited chat with PT coach) will be limited to total Eligible Charges of [\*\*] for Option #1: a bundle of one (1) Visit of 98975-32 and two (2) Visits of 97161-32, or Option 2: outcomes based pricing for Milestone 1 = [\*\*] and Milestone 2 = [\*\*]. Outcomes Based Pricing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.98975-32. Milestone 1 – Participant completes live coaching session or 1 exercise session with digital platform

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.97161-32. Milestone 2 - Participant has indicated to Vendor either (i) a "positive outcome" on the applicable clinically-validated outcome measure\* used to periodically assess the impact of the applicable services on such Participant's focus area, or (ii) achievement of the goals established for the applicable service for the treatment of the Participant's focus area, whichever occurs first

**Visit Wait Time SLAs, Monthly Data and Reporting Requirements**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. **Urgent Care/Acute Care**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.[\*\*] percent ([\*\*]%) of urgent care visits will have a wait time under [\*\*] ([\*\*]) minutes (not including requested Providers), for Commercial and Medicare Advantage, calculated separately. For purposes of calculating performance under this SLA, (i) any market with fewer than [\*\*] ([\*\*]) visits per month shall be excluded to avoid statistical distortion from low-volume outliers, and (ii) data from the period of November through January shall be excluded to account for seasonal flu–related volatility.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Member drop off percentages (abandonment): no more than [\*\*] percent ([\*\*]%) of total connections for Commercial and Medicare Advantage after [\*\*] ([\*\*]) minutes of wait time

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. ![img83049861_0.jpg](img83049861_0.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Psychology: Members will be offered an appointment time that occurs within [\*\*] days, [\*\*]% of the time, excluding markets with annual visits less than [\*\*] visits per month

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Psychiatry: Members will be offered an appointment time that occurs within [\*\*] ([\*\*]) days from the date of request, [\*\*]% of the time, excluding markets with less than [\*\*] visits per month .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Provider satisfaction measure: Provider will maintain a patient rated score of their satisfaction with the therapist, or Psychologist for therapy, and Psychiatrist for medical visits at an average score of [\*\*], out of a [\*\*] ([\*\*]) point scale.

With respect to Urgent Care/Acute Care Visit Wait Time SLAs, and Behavioral Health measures, Monthly Data and Requirements, the parties agree that any performance impacts as a result of system performance shall be based on the system performance SLAs captured in Schedule III of the Statement of Work between Elevance health, Inc. and American Well Corporation effective January 1, 2026.

For clarity, Members seeking on demand urgent care, who choose to wait for a provider with a specific attribute, are not counted in the SLA.

![img83049861_1.jpg](img83049861_1.jpg)

The parties will work towards finalizing new reporting requirements and appropriate additional SLAs for all lines of business consistent with industry standards for urgent care and behavioral health to be finalized by amendment no later than 3/31/26. Topics to be discussed will include the following for urgent care:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.patient issues resolved via the first virtual care visit

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.appropriateness of follow up visits within [\*\*] hours

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.percent of incoming patients navigated to an ER by the treating doctor

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv.repeat visit rate within [\*\*] hours

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v.usage of the ER by patient's after [\*\*] minute wait time for LiveHealth Online

![img83049861_2.jpg](img83049861_2.jpg)

Provider agrees to provide monthly and quarterly supporting reporting for all provider access requirements, subject to audit by Anthem.

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

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## Exhibit 10.4

**Exhibit 10.4**

**FIFTH AMENDMENT TO THE ANTHEM BLUE CROSS AND BLUE SHIELD**

**PROVIDER AGREEMENT**

This Amendment is to the Provider Agreement ("Agreement") dated January 1, 2023, and entered into between Anthem (hereinafter referred to as "Anthem") and Online Care Group, PC (hereinafter "Provider") and is incorporated into the Agreement as follows:

**BASE PROVISIONS**

**ARTICLE VIII**

**TERM AND TERMINATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Provision 8.1 is hereby deleted in its entirety and replaced with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 <u>Term of Agreement</u>. This Agreement shall commence at 12:01 AM on January 1, 2026 for a term of

3 (three) year(s), January 1, 2026 until January 1, 2029 ("Initial Term"), and shall continue automatically in effect thereafter for consecutive one (1) year terms unless otherwise terminated as provided herein

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Provision 8.4.1.10 is hereby added to the Agreement as shown below:

The Master Services Agreement between Elevance Health and American Well dated January 1, 2023 (Vendor Agreement), or the Statement of Work between Elevance Health and American Well dated January 1, 2026 for the Converge Platform, terminates pursuant to Section 7 of the Vendor Agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Provision 8.4.2.4 is hereby added to the Agreement as shown below:

The Master Services Agreement between Elevance Health and American Well dated January 1, 2023 (Vendor Agreement), or the Statement of Work between Elevance Health and American Well dated January 1, 2026 for the Converge Platform, terminates pursuant to Section 7 of the Vendor Agreement.

**PLAN COMPENSATION SCHEDULE**

**PLAN COMPENSATION SCHEDULE ("PCS")**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**IV. SPECIFIC REIMBURSEMENT TERMS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.Provider Access Fee is replaced with the following effective January 1, 2026:

<u>Provider Access Fee</u>. Anthem will pay Provider a one-time provider access fee of $[\*\*] by December 15, 2026.

**PCS ATTACHMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The existing PCS Attachment to the Agreement is hereby deleted in its entirety and replaced with the PCS Attachment attached hereto.

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

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Except as expressly set forth herein, nothing contained herein shall be construed to modify the Agreement. To the extent this Amendment conflicts with any provision of the Agreement, this Amendment shall control.

Each party to this Amendment warrants that it has full power and authority to enter into this Amendment and the person signing this Amendment on behalf of either party warrants that he/she has been duly authorized and empowered to enter into this Amendment.

**THE EFFECTIVE DATE OF THIS AMENDMENT IS: January 1, 2026**

**PROVIDER LEGAL NAME: Online Care Group, PC**

Printed: <u>/s/ Anna Nesterova</u> <u>December 23, 2025</u> Signature, Authorized Representative of Provider(s) Date

Printed: <u>Anna Nesterova</u> <u>Vice President</u> Name Title

Address <u>75 State Street, 27th FL</u> <u>Boston MA 02109</u> Street City State Zip

Tax Identification Number (TIN):

Phone Number: <u>6172043500</u> 

Email Address: <u>contracts@amwell.com</u> 

**Anthem**

By: <u>/s/ Salma Khaleq</u> <u>12-24-2025</u> 

Signature, Authorized Representative of Anthem Date

Printed: <u>Salma Khaleq</u> <u>Vice President</u> Name Title

Address <u>2505 N. Hwy 360</u> <u>Grand Prairie</u> <u>TX</u> <u>75050</u> Street City State Zip

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

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# PCS Attachment
**Urgent Care and Behavioral Health - Commercial**

---

| | |
|:---|:---|
| <br>**CPT Code & Description** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rates 1/1/26 - 1/1/29** |
| &nbsp;&nbsp;&nbsp;**99422** NON-FACE TO FACE NEW & ESTABLISHED URGENT CARE/ACUTE VISIT (MD/DO, NP) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99204** OFFICE/OUTPATIENT VISIT NEW - PSYCH | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99213-GT** OFFICE/OUTPATIENT VISIT EST - PSYCH (follow-up, low complexity) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99214-GT** OFFICE/OUTPATIENT VISIT EST - PSYCH (follow-up, moderate complexity) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**90834** BH THERAPY - MIDLEVEL- LCSW, LPC, LMFT (And any other non-PhD/non-PsyD) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**90834-** BH THERAPY - PhD/ PsyD (Doctorate Level) | [\*\*] |

---

**Urgent Care and Behavioral Health - Medicare Advantage**

---

| | |
|:---|:---|
| <br>**CPT Code & Description** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rates 1/1/26 - 1/1/29** |
| &nbsp;&nbsp;&nbsp;**99422** NON-FACE TO FACE NEW & ESTABLISHED URGENT CARE/ACUTE VISIT (MD/DO, NP) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99204** OFFICE/OUTPATIENT VISIT NEW - PSYCH | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99213-GT** OFFICE/OUTPATIENT VISIT EST - PSYCH (follow-up, low complexity) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99214-GT** OFFICE/OUTPATIENT VISIT EST - PSYCH (follow-up, moderate complexity) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**90834** BH THERAPY - MIDLEVEL- LCSW, LPC, LMFT (And any other non-PhD/non-PsyD) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**90834-** BH THERAPY - PhD/ PsyD (Doctorate Level) | [\*\*] |

---

**National Accounts, Local, Large/Small Group Employers, etc.- Commercial Buy-Up/Benefit Programs**

---

| | |
|:---|:---|
| <br>**CPT Code & Description** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rates 1/1/26-**<br>**1/1/29** |
| &nbsp;&nbsp;&nbsp;**Diabetes Prevention Program (as aligned with Healthy Impact Offerings) 0488T-32**<br>-Milestone 1, 5% weight loss<br>-Milestone 2, after 1st visit with Provider<br>-Milestone 3, after 4th visit with Provider<br>-Milestone 4, after 8th visit with Provider | [\*\*] |
| &nbsp;&nbsp;&nbsp;**Dermatology (as aligned with Healthy Impact Offerings) 99423-GQ** Asynchronous new and established dermatoloqy visit | [\*\*] |
| &nbsp;&nbsp;&nbsp;**Musculoskeletal Services\***<br>**98975-32 Milestone 1 - Thrive & Bloom**<br>(One-time per program)<br>Live coaching session with a physical therapist<br>**98975-32 Milestone 1 - Move**<br>(One-time per program)<br>Live coachinq session with an exercise module with the Diqital Platform | [\*\*] |
| &nbsp;&nbsp;&nbsp;**Musculoskeletal Services\***<br>**97161-32 Milestone 2 - Thrive & Bloom**<br>Three exercise modules with Digital Platform and unlimited chat with physical therapist coach Platform | [\*\*] |
| &nbsp;&nbsp;&nbsp;**Virtual Primary Care**<br>**99213** OFFICE/OUTPATIENT VISIT NEW - PRIMARY CARE ALL LEVELS (MD/DO, NP) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99385** OFFICE/OUTPATIENT VISIT ANNUAL WELLNESS 18-39 YEARS (Initial exam/new patient) (MD/DO, NP) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99395** OFFICE/OUTPATIENT VISIT ANNUAL WELLNESS 18-39 YEARS (Established patient) (MD/DO, NP) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99386** OFFICE/OUTPATIENT VISIT ANNUAL WELLNESS 40-64 YEARS (Initial exam/new patient) (MD/DO, NP) | [\*\*] |
| &nbsp;&nbsp;&nbsp;**99396** OFFICE/OUTPATIENT VISIT ANNUAL WELLNESS 40-64 YEARS (Established patient) (MD/DO, NP) | [\*\*] |

---

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

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Programs listed below are also referenced in the Healthy Impact Statement of Work dated January 1, 2026, between Elevance Health, Inc. and American Well Corporation.

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

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\*The Anthem Rate for Musculoskeletal Services (currently defined as 98975-32, Milestone 1 - 1st visit with Provider-Tech Kit & Marketing Engagement services and 97161-32, Milestone 2 - 3 exercises modules with digital platform & unlimited chat with PT coach Platform, Milestone 3 – 6 exercise modules with the digital platform & unlimited chat with PT coach) will be limited to total Eligible Charges of $[\*\*] for Option #1: a bundle of one (1) Visit of 98975-32 and two (2) Visits of 97161-32, or Option 2: outcomes based pricing for Milestone 1 = $[\*\*] and Milestone 2 = $[\*\*]. Outcomes Based Pricing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.98975-32. Milestone 1 – Participant completes live coaching session or 1 exercise session with digital platform

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.97161-32. Milestone 2 - Participant has indicated to Vendor either (i) a "positive outcome" on the applicable clinically-validated outcome measure\* used to periodically assess the impact of the applicable services on such Participant's focus area, or (ii) achievement of the goals established for the applicable service for the treatment of the Participant's focus area, whichever occurs first

**Visit Wait Time SLAs, Monthly Data and Reporting Requirements**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. **Urgent Care/Acute Care**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.[\*\*] percent ([\*\*]%) of urgent care visits will have a wait time under [\*\*] ([\*\*]) minutes (not including requested Providers), for Commercial and Medicare Advantage, calculated separately. For purposes of calculating performance under this SLA, (i) any market with fewer than [\*\*] ([\*\*]) visits per month shall be excluded to avoid statistical distortion from low-volume outliers, and (ii) data from the period of November through January shall be excluded to account for seasonal flu–related volatility.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Member drop off percentages (abandonment): no more than [\*\*] percent ([\*\*]%) of total connections for Commercial and Medicare Advantage after [\*\*] ([\*\*]) minutes of wait time

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. ![img83973382_0.jpg](img83973382_0.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Psychology: Members will be offered an appointment time that occurs within [\*\*] days, [\*\*]% of the time, excluding markets with annual visits less than [\*\*] visits per month

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Psychiatry: Members will be offered an appointment time that occurs within [\*\*] ([\*\*]) days from the date of request, [\*\*]% of the time, excluding markets with less than [\*\*] visits per month .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Provider satisfaction measure: Provider will maintain a patient rated score of their satisfaction with the therapist, or Psychologist for therapy, and Psychiatrist for medical visits at an average score of [\*\*], out of a [\*\*] ([\*\*]) point scale.

With respect to Urgent Care/Acute Care Visit Wait Time SLAs, and Behavioral Health measures, Monthly Data and Requirements, the parties agree that any performance impacts as a result of system performance shall be based on the system performance SLAs captured in Schedule III of the Statement of Work between Elevance health, Inc. and American Well Corporation effective January 1, 2026.

For clarity, Members seeking on demand urgent care, who choose to wait for a provider with a specific attribute, are not counted in the SLA.

![img83973382_1.jpg](img83973382_1.jpg)

The parties will work towards finalizing new reporting requirements and appropriate additional SLAs for all lines of business consistent with industry standards for urgent care and behavioral health to be finalized by amendment no later than 3/31/26. Topics to be discussed will include the following for urgent care:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.patient issues resolved via the first virtual care visit

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.appropriateness of follow up visits within [\*\*] hours

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.percent of incoming patients navigated to an ER by the treating doctor

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv.repeat visit rate within [\*\*] hours

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v.usage of the ER by patient's after [\*\*] minute wait time for LiveHealth Online

![img83973382_2.jpg](img83973382_2.jpg)

Provider agrees to provide monthly and quarterly supporting reporting for all provider access requirements, subject to audit by Anthem.

Certain confidential information contained in this document, marked by [\*\*], has been omitted because American Well Corporation has determined that the information (i) is not material and (ii) is the type that American Well Corporation customarily and actually treats as private or confidential.

------