Document:

Exhibit
10.01

 

AMENDMENT

TO THE

WELLPOINT
401(k) RETIREMENT SAVINGS PLAN

 

The WellPoint 401(k)
Retirement Savings Plan, as amended through March 1, 2002 and subsequently
amended, is hereby further amended, as follows:

 

1.                                       Effective
January 1, 2004, the introductory clause of Section 2.09 is revised to read as
follows:

 

“Compensation”
means all regular base earning paid by a Participating Company to an Eligible
Employee.

 

2.                                       Effective
January 1, 2004, Section 2.09(a)(5) is amended in its entirety to read as follows:

 

(5)                                  sales
commissions (other than sales commissions paid by a Participating Company after
the Participant’s termination of employment);

 

3.                                       Effective
January 1, 2004, Section 2.09(a)(8) is amended in its entirety to read as
follows:

 

(8)                                  all
bonuses (other than (i) starting bonuses; and (ii) retention or stay bonuses
paid by a Participating Company after the Participant’s termination of
employment) and incentive payments (other than Instabucks); and

 

4.                                       Section
2.09(c) is revised in its entirety to read as follows:

 

(c)                                  A
reference to Compensation excludes the following items:

 

(1)                                  Pay
in lieu of vacation days or pay in lieu of any category of paid time off that
is unused at a Participant’s termination of employment; and

 

(2)                                  Any
amount paid to a Participant after the Participant’s termination of employment,
regardless of whether such amount is included in the reference to Compensation
under Section 2.09(a).

 

5.                                       Section
January 1, 2004, Section 2.20 is revised in its entirety to read as follows:

 

“Participant” means (i)
an Eligible Employee who becomes a Participant under Article IV or Article V,
(ii) an individual not described in clause (i) who had an Account balance in
another tax-qualified retirement plan as of the date such plan is merged with the
Plan, (iii) an Employee of an Affiliated Company that is not a Participating
Company who receives an allocation of a Bonus Contribution as

 

 

described in Section
5.10, and (iv) an Eligible Employee who receives an allocation of a Profit
Sharing Contribution under an Appendix to the Plan.

 

6.                                       Effective
January 1, 2004, Section 4.02 is revised in its entirety to read as follows:

 

Notwithstanding any
provision to the contrary, if an Employee is not an Eligible Employee on the
date that he or she has satisfied the applicable participation requirements set
forth in Section 4.01, such Employee cannot make a Salary Deferral Contribution
election to become a Participant until the first day of the calendar month
coincident with or next following the calendar month in which the Employee
performs a Hour of Service as an Eligible Employee.  If an Employee who became a Participant
ceases to be an Eligible Employee and later becomes an Eligible Employee, such
Employee may make a Salary Deferral Contribution election to resume Participant
status on the first day of the calendar month coincident with or next following
the calendar month in which the Employee performs a Hour of Service as an
Eligible Employee.

 

7.                                       Effective
January 1, 2004, the introductory paragraph of Section 5.01 is revised in its
entirety to read as follows:

 

An Eligible Employee who
has elected to become a Participant under Article IV may elect to have a
Participating Company reduce the amount of his or her Compensation received for
each payroll period on or after the effective date of such election by an
amount equal to from 1% to 50% and to have that amount contributed to the Plan
as a Salary Deferral Contribution on his or her behalf.  No Salary Deferral Contribution can be made
from amounts paid by a Participating Company to a Participant after the
Participant’s termination of employment, in accordance with Section
2.9(c).  In no event will a Participant’s
total Salary Deferral Contribution for a Plan Year exceed the indexed limit
determined under Code Section 402(g).  A
Participant may initiate or change the percentage of Salary Deferral
Contribution (in 1% increments) by submitting a notice to the Committee that
satisfies such requirements as the Committee shall determine.  In no event will a Participant’s Salary
Deferral Contribution for a Plan Year exceed an amount equal to the
Participant’s Deferral Rate times the 401(a)(7) Limit in effect for the Plan
Year.  The Committee will implement the
Participant’s Salary Deferral Contribution election as soon as administratively
practicable.

 

7.                                       Effective
July 1, 2004, Section 11.01 is amended by the addition of the following
sentence at the end thereof:

 

Notwithstanding any
provision to the contrary, the merger of the Company, Anthem, Inc., and Anthem
Holding Corp. , in accordance with the Agreement and Plan of Merger dated as of
October 26, 2003 among Anthem, Inc., Anthem Holding Corp. and WellPoint Health
Networks Inc. (“Merger Agreement”) will not, in and of itself, constitute a
severance from employment from the Company 

 

2

 

or a Participating
Company and, thus, a Participant’s benefits will not become distributable as
the result of the Closing (as defined in the Merger Agreement).

 

IN WITNESS WHEREOF, WellPoint Health Networks Inc. has
caused this Amendment to be executed this 9th day of July 2004.

 

WELLPOINT HEALTH NETWORKS
INC.

 

 

	
  By:

  	
   

  	
  /s/
  J. Thomas Van Berkem

  	
   

  

 

3Exhibit 10.02

 

WellPoint Health Networks Inc.

1999 Executive Officer Annual Incentive Plan

 

Pursuant to the authority under Section 4 of the WellPoint Health
Networks Inc. 1999 Executive Officer Annual Incentive Plan (the “EOAIP”),
the Committee under the EOAIP has the authority and discretion to administer
and interpret the EOAIP.  The Committee
desires to clarify certain provisions of the EOAIP, as described below, in
order to avoid unintended duplication of benefits.  Capitalized terms used herein, unless otherwise defined herein,
shall have the same meaning as set forth in the EOAIP.

 

Participants under the WellPoint Health
Networks Inc. Officer Change-in-Control Plan, as amended and restated through
December 4, 2001 and as may be amended from time to time (the “CIC Plan”),
may, under the terms of the CIC Plan, become entitled to a “guaranteed annual
bonus” for the fiscal year in which occurs a “change in control” (as defined in
the CIC Plan) in accordance with Section 2.2 of the CIC Plan, or a “pro-rated
bonus” for the fiscal year in which occurs an “involuntary termination” or
“constructive termination” (as defined in the CIC Plan) in accordance with
Section 3.7 of the CIC Plan.  A bonus
payable to a participant under the EOAIP (a “Participant”) in respect of
the same period is not intended to duplicate, nor to be in addition to, a bonus
payable to such Participant in accordance with the terms of Section 2.2 or
Section 3.7 of the CIC Plan.

 

Accordingly, the Committee desires to clarify
the EOAIP such that, if any Participant under the EOAIP becomes entitled under
the terms of the CIC Plan to a “guaranteed annual bonus” (which may be a
pro-rated bonus) pursuant to Section 2.2 of the CIC Plan in respect of a fiscal
year in which occurs a qualifying “change in control,” the guaranteed annual
bonus that is paid to the Participant in accordance with Section 2.2 of the CIC
Plan will be deemed to be the award for such Participant under the EOAIP in
respect of such fiscal year, and the Participant shall not be entitled to an
additional bonus under the EOAIP in respect of such fiscal year.

 

Similarly, the Committee desires to clarify
the EOAIP such that, if any Participant under the EOAIP becomes entitled under
the terms of the CIC Plan to a “pro-rated bonus” pursuant to Section 3.7 of the
CIC Plan in respect of the fiscal year in which occurs the Participant’s
“involuntary termination” or “constructive termination” (as defined in the CIC
Plan), the pro-rated bonus that is paid to the Participant in accordance with Section
3.7 of the CIC Plan will be deemed to be the award for such Participant under
the EOAIP in respect of such fiscal year, and the Participant shall not be
entitled to an additional bonus under the EOAIP in respect of such fiscal year.

 

 

In all cases, only one bonus can be paid to a
Participant under the EOAIP in respect of any given fiscal year (or in respect
of any portion of a given fiscal year), and in no event shall any Participant
be entitled to more than one bonus under the EOAIP in respect of any given
fiscal year (or in respect of any portion of any given fiscal year). Thus, if
an “involuntary termination” or “constructive termination” occurs for any
Participant during the fiscal year in which a qualifying “change in control”
occurs, then the Participant will be eligible for an award in respect of the
pro-rated guaranteed annual bonus provided for in Section 2.2 of the CIC Plan,
and will not additionally be eligible for an award in respect of the pro-rated
bonus provided for under Section 3.7 of the CIC Plan.

 

The EOAIP currently permits the Committee to
establish payment schedules for bonuses under the EOAIP, and the Committee has
the authority to provide for a pro-rated bonus to Participants who terminate
employment prior to the payment of a bonus as a result of a reduction in force
commencing in the fourth quarter of a fiscal year (and the prior year’s bonus
award and a pro-rata bonus award if such termination occurs between the start
of the next fiscal year and payment of the prior year’s bonus).  The Committee desires to clarify the EOAIP
such that, if any participant terminates employment after the fiscal year in
which occurs a qualifying “change in control” (as defined in the CIC Plan), but
within 36 months following such qualifying “change in control,” and therefore
becomes entitled under the terms of the CIC Plan to a pro-rated bonus pursuant
to Section 3.7 of the CIC Plan in respect of the year of termination, the bonus
that is paid to the participant in accordance with Section 3.7 of the CIC Plan
will be deemed to be the award to such Participant under the EOAIP in respect
of the fiscal year in which occurs the Participant’s termination of employment,
and the Participant shall not be entitled to an additional bonus under the
EOAIP in respect of such fiscal year (but may be entitled to a bonus under the
EOAIP in respect of the preceding fiscal year in accordance with the terms of
the EOAIP).  Participants who terminate
employment as a result of a reduction in force as described above but who are
not eligible for a pro-rata bonus under Section 3.7 of the CIC Plan in respect
of the year of termination may nonetheless be eligible to receive a bonus under
the EOAIP in accordance with the terms of the EOAIP and this clarifying
document.

 

 

Date: June 28, 2004

 

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