Document:

exhibit102

                                                           EXECUTION VERSION                     AMENDMENT NO. 9 TO CREDIT AGREEMENT               THIS AMENDMENT NO. 9 TO CREDIT AGREEMENT, dated as of May 9, 2018 (this  “Amendment”), by and among MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC. (f/k/a M/A- COM  Technology  Solutions  Holdings,  Inc.),  a  Delaware  corporation  (the  “Borrower”),  GOLDMAN  SACHS BANK USA (“GS”), as administrative agent (in such capacity, the “Administrative Agent”),  Swing Line Lender and an L/C Issuer, the Extending Revolving Credit Lender (as defined below) and the  Lenders constituting Required Revolving Credit Lenders (capitalized terms used but not defined herein  having the meanings provided in the Credit Agreement referred to below).                                     RECITALS:               WHEREAS, reference is hereby made to that certain Credit Agreement, dated as of May  8, 2014 (as amended by (i) that certain Incremental Amendment, dated as of February 13, 2015, (ii) that  certain  Incremental  Term  Loan  Amendment,  dated  as  of  August  31,  2016,  (iii)  that  certain  Second  Incremental  Amendment,  dated  as  of  March  10,  2017,  (iv)  that  certain  Amendment  No.  4  to  Credit  Agreement, dated as of March 10, 2017, (v) that certain Refinancing Amendment, dated as of March 10,  2017,  (vi)  that  certain  Second  Refinancing  Amendment,  dated  as  of  May  19,  2017,  (vii)  that  certain  Second  Incremental  Term  Loan  Amendment,  dated  as  of  May  19,  2017,  and  (viii)  that  certain  Amendment  No.  8  to  Credit  Agreement  (the  “Extension  Amendment”),  dated  as  of  May  2,  2018,  collectively,  the  “Credit  Agreement,”  and,  as  amended  by  this  Amendment,  the  “Amended  Credit  Agreement”),  among  the  Borrower,  each  Lender  from  time  to  time  party  thereto  and  GS  as  the  Administrative Agent, the Collateral Agent, the Swing Line Lender and an L/C Issuer;               WHEREAS, Section 2.18 of the Credit Agreement permits the Borrower to request that  Lenders  under  any  Existing  Revolving  Credit  Loan  Facility  (each  such  Lender  as  of  the  date  hereof,  immediately prior to the Ninth Amendment Effective Date (as defined below), an “Existing Lender”)  extend the scheduled final maturity date with respect to all or a portion of their Existing Revolving Credit  Commitments  (as  defined  below)  by  converting  all  or  a  portion  of  such  Existing  Revolving  Credit  Commitments into a New Extended Revolving Credit Commitment (as defined below) pursuant to the  procedures described therein;               WHEREAS,  in  accordance  with  such  procedures,  the  Borrower  has  requested  that  the  Existing  Lender,  holding  a  Revolving  Credit  Commitment  with  a  scheduled  final  maturity  of  May  8,  2019,  extend  the  scheduled  final  maturity  of  such  Revolving  Credit  Commitment  (the  “Existing  Revolving Credit Commitment”), such extension to be effected by converting the Existing Revolving  Credit  Commitment  of  such  Existing  Lender  into  a  New  Extended  Revolving  Credit  Commitment,  subject to the terms and conditions set forth herein;               WHEREAS, the Existing Lender party hereto, as the Extended Revolving Credit Lender  (as defined below), agrees, subject to the terms and conditions set forth herein, to convert the amount of  its Existing Revolving Credit Commitment and specified on its Revolving Credit Extension Election in  the form attached hereto as Exhibit A (a “Revolving Credit Extension Election”) into a New Extended  Revolving  Credit  Commitment  (such  Existing  Lender  with  respect  to  its  Existing  Revolving  Credit  Commitment so converted, the “Extending Revolving Credit Lender”);               WHEREAS, Section 2.18(e) of the Credit Agreement permits, subject to the limitations  set forth therein, at any time following the establishment of a Revolving Credit Loan Extension Series,  the  Borrower  to  offer any  Lender of  a relevant  Existing  Revolving  Credit  Loan  Facility  who  failed to  make  a  Revolving  Credit  Extension  Election  in  respect  of  all  or  a  portion  of  its  Revolving  Credit  Commitments on or prior to the date specified in a prior Extension Request relating to such Revolving    1997166-NYCSR07A - MSW  

 

Credit Loan Extension Series, the right to convert all or any portion of its Revolving Credit Commitments  (and  related  extensions  of  credit)  under  the  respective  Existing  Revolving  Credit  Loan  Facility  into  Extended Revolving Credit Commitments (and related extensions of credit) under such Revolving Credit  Loan Extension Series; provided that (i) such offer and any related acceptance shall be on identical terms  (subject to limited exceptions set forth in Section 2.18(e) of the Credit Agreement) to those offered to the  Lenders who agreed to convert their Revolving Credit Commitments under the Existing Revolving Credit  Loan Facility into Extended Revolving Credit Commitments pursuant to the respective Extension Request  and (ii) any Lender which agrees to an extension pursuant to Section 2.18(e) of the Credit Agreement  shall  enter  into  a  joinder  agreement  to  the  respective  Extension  Amendment  in  form  and  substance  reasonably satisfactory to the Administrative Agent and the Borrower and executed by such Lender, the  Administrative Agent and the Borrower;               WHEREAS,  pursuant  to  Section  10.01  of  the  Credit  Agreement,  the  Borrower,  the  Administrative Agent and the Revolving Credit Lenders party hereto, who shall on the Ninth Amendment  Effective Date constitute the Required Revolving Credit Lenders, agree to certain additional amendments  to the Credit Agreement as set forth herein;               NOW, THEREFORE, in consideration of the premises and agreements, provisions and  covenants herein contained, the parties hereto agree as follows:                  SECTION 1.  Joinder Agreement.  Subject to the satisfaction of the conditions set     forth in Section 4 hereof:               (a)   The  Extending  Revolving  Credit  Lender  by  its  execution  and  delivery  of  a  Revolving Credit Extension Election hereby (i) agrees that posting of a draft of this Amendment for its  review shall constitute an offer by the Borrower for the Extending Revolving Credit Lender to convert all  of  its  Existing  Revolving  Credit  Commitments  into  Extended  Revolving  Credit  Commitments;  (ii)  accepts such offer and consents to the terms of the Existing Revolving Credit Loan Extension Series, the  Extension Amendment and this Amendment; and (iii) agrees that the amount of its Existing Revolving  Credit Commitment and specified on its Revolving Credit Extension Election shall be converted into a  New Extended Revolving Credit Commitment as of the Ninth Amendment Effective Date pursuant to the  provisions of Section 2.18 of the Credit Agreement and consents to all of the amendments set forth in  Sections 2 and 3 hereof below.               (b)   It  is  hereby  agreed  that  this  Amendment  shall  be  deemed  to  be  a  “joinder  agreement”  to  the  Extension  Amendment  with  respect  to  the  Extending  Revolving  Credit  Lender’s  Extended  Revolving  Credit  Commitments.   It  is  hereby  agreed  that  the  existing  Revolving  Credit  Commitment converted hereby shall be deemed to be an “Existing Revolving Credit Loan Facility” and  an  “Existing  Revolving  Credit  Commitment”,  the  Revolving  Credit  Loans  under  the  New  Extended  Revolving Credit Commitment shall be deemed to be “Extended Revolving Credit Loans”, and the New  Extended  Revolving  Credit  Commitment  shall  be  deemed  to  be  an  “Extended  Revolving  Credit  Commitment” and a portion of a “Revolving Credit Loan Extension Series”, in each case, under and as  defined  in  the  Credit  Agreement  for  all  purposes  of  the  Credit  Agreement.  For  the  purposes  of  this  Amendment,  (i)  the  “Existing  Revolving  Credit  Loan  Extension  Series”  shall  mean  the  Revolving  Credit  Loan  Extension  Series  established  pursuant  to  the  Extension  Amendment  and  (ii)  the  “New  Extended Revolving Credit Commitment” shall mean the Extended Revolving Credit Commitment of  the  Existing  Lender  party  hereto  which  has  been  converted  from  its  Existing  Revolving  Credit  Commitment pursuant to the terms of this Amendment.  For the avoidance of doubt, on and after the date  hereof,  (i)  the  New Extending Revolving  Credit  Commitments  shall  be  deemed  to  be  a  portion  of the  Existing Revolving Credit Loan Extension Series and (ii) the Revolving Credit Commitments under the                                         2   1997166-NYCSR07A - MSW  

 

Existing Revolving Credit Loan Extension Series shall be deemed to be increased by the amount of such  New Extended Revolving Credit Commitment.                  SECTION 2.  Amendments to Article I of the Credit Agreement.  Article I of the     Credit Agreement is hereby amended as follows:               (a)   Section 1.01 of the Credit Agreement is hereby amended by adding the following  new definition in the appropriate alphabetical order:               ““Ninth Amendment” means Amendment No. 9 to Credit Agreement, dated as of May              9, 2018, by and among the Borrower, GS, as the Administrative Agent, the Swing Line              Lender and an L/C Issuer, the Extending Revolving  Credit Lender (as defined therein)              and the Required Revolving Credit Lenders.”               (b) Section 1.01 of the Credit Agreement is hereby amended by amending and restating  the definition of “Maturity Date” in its entirety to read as follows:               ““Maturity  Date”  means  (i)  with  respect  to  the  Revolving  Credit  Commitments  and              Swing Line Loans that have not been extended pursuant to Section 2.18, the date that is              five (5) years after the Closing Date (the “Original Revolving Credit Maturity Date”),              (ii) with respect to the Initial Term Loans that have not been extended pursuant to Section              2.17, the date that is seven (7) years after the Second Refinancing Amendment Effective              Date  (the  “Original  Term  Loan  Maturity  Date”),  (iii)  with  respect  to  any  Extended              Term Loans of a given Term Loan Extension Series, the final maturity date as specified              in the applicable Extension Amendment accepted by the respective Lender or Lenders,              (iv) with respect to any Extended Revolving Credit Commitments of a given Revolving              Credit  Loan  Extension  Series,  the  final  maturity  date  as  specified  in  the  applicable              Extension Amendment accepted by the respective Lender or Lenders, (v) with respect to              those Extended Revolving Credit Commitments converted pursuant to the terms of the              Eighth Amendment and the Ninth Amendment and the Revolving Credit Loan Extension              Series thereunder, November 8, 2021, (vi) with respect to any Refinancing Term Loans,              Refinancing Revolving Credit Commitments or Refinancing Revolving Credit Loans, the              final  maturity  date  as  specified  in  the  applicable  Refinancing  Amendment,  (vii)  with              respect to any New Term Loan, New Revolving Credit Commitments or New Revolving              Credit  Loans,  the  final  maturity  date  as  specified  in  the  applicable  Incremental              Amendment and (viii) with respect to Replacement Term Loans, the final maturity date              as  specified  in  the  applicable  amendment  to  this  Agreement  in  respect  of  such              Replacement Term Loans; provided, in each case, that if such day is not a Business Day,              the applicable Maturity Date shall be the Business Day immediately preceding such day.”                  SECTION 3.  Ancillary  Amendments  to  Extension  Amendment.   Subject  to  the     satisfaction of the conditions set forth in Section 4 hereof, the following amendments to the Credit     Agreement shall be in effect on and from the Ninth Amendment Effective Date and remain in effect     until  the  occurrence  of  the  Financial  Covenant  Compliance  Date  (as  defined  below).   Upon  the     occurrence of the Financial Covenant Compliance Date, the amendments in this Section 3 shall no     longer be in effect and, except with respect to the amendments to the Credit Agreement in Sections 1     and 2 above, the terms of the Credit Agreement shall revert to those as in effect immediately prior to     the Eighth Amendment Effective Date.                                          3   1997166-NYCSR07A - MSW  

 

            (a)   From  the  Ninth  Amendment  Effective  Date  until  the  Financial  Covenant  Compliance Date, Section 7.11 of the Credit Agreement is hereby amended and restated in its entirety to  read as follows:               “(a)  Subject  to  Section  7.11(b),  on  any  Compliance  Date,  permit  the  Total  Net              Leverage Ratio as of such Compliance Date to be greater than 4.50:1.00.                (b)   Notwithstanding  anything  in  Section  7.11(a)  above,  if  and  for  so  long  as  the              Borrower and its Restricted Subsidiaries fail to satisfy any of the conditions set forth in              clauses (i), (ii) and (iii) of Section 7.11(c) (the “Financial Covenant Conditions”) (the              occurrence  of such  event, a “Financial  Covenant  Event”), the  Borrower  shall  not,  on              any Compliance Date occurring on and after the occurrence and during the continuation              of  a  Financial  Covenant  Event,  permit  the  Total  Net  Leverage  Ratio  as  of  such              Compliance Date to be greater than 2.00:1.00.              (c)   It is understood and agreed that:                     (i)   On  and  after  the  Eighth  Amendment  Effective  Date,  it  shall  be  a                    Financial  Covenant  Condition  that  the  Borrower  not,  nor  shall  the  Borrower                    permit any Restricted Subsidiary to, have made any  Investment on or after the                    Eighth Amendment Effective Date in reliance on Section 7.02(ff), unless, at the                    time of the earlier of the date on which such Investment was made and the date                    on which the definitive agreement governing the relevant Investment containing                    a legally binding commitment to make such Investment was made, the Borrower                    was  in  compliance  with  a  Total  Net  Leverage  Ratio  of  equal  to  or  less  than                    3.00:1.00  (calculated  on  a  Pro  Forma  Basis)  as  of  the  last  day  of  the  most                    recently ended Test Period on or prior to the date of determination.                     (ii)  On  and  after  the  Eighth  Amendment  Effective  Date,  it  shall  be  a                    Financial  Covenant  Condition  that  the  Borrower  not,  nor  shall  the  Borrower                    permit any Restricted Subsidiary to, have declared or made, directly or indirectly,                    on  or  after  the  Eighth  Amendment  Effective  Date,  any  Restricted  Payment  in                    reliance  on  Section  7.06(i)  unless,  immediately  prior  to  such  declaration  and                    payment, the Total Net Leverage Ratio (calculated on a Pro Forma Basis) as of                    the  last  day  of  the  most  recently  ended  Test  Period  on  or  prior  to  the  date  of                    determination was equal to or less than 3.00:1.00.                     (iii)   On and after the Ninth Amendment Effective Date, it shall be a Financial                    Covenant  Condition  that  the  Borrower  not,  nor  shall  the  Borrower  permit  any                    Restricted  Subsidiary  to  have  made,  (x)  any  Investment  on  or  after  the  Ninth                    Amendment  Effective  Date  in  reliance  on  Section  7.02(j),  (y)  any  Restricted                    Payment on or after the Ninth Amendment Effective Date in reliance on Section                    7.06(c)  or  (z)  any  prepayment,  redemption,  repurchase,  defeasance,  exchange,                    acquisition or retirement or other acquisition of Junior Financing on or after the                    Ninth Amendment Effective Date in reliance on clause (v) of Section 7.13(a), in                    each case in reliance on clause (a) of the definition of “Available Amount”.               (d)   For  the  avoidance  of  doubt,  (i)  failure  to  satisfy  any  Financial  Covenant              Condition shall have no effect other than a Financial Covenant Event subject to and as              described in Section 7.11(b) and (ii) the Financial Covenant Conditions shall only be in              effect until the Financial Covenant Compliance Date.                                        4   1997166-NYCSR07A - MSW  

 

            (e)   As used in this Section 7.11:                     “Eighth Amendment Effective Date” means May 2, 2018.                    “Financial  Covenant  Compliance  Date”  means,  at  any  time  after  the  Eighth                    Amendment  Effective  Date,  the  last  day  of  the  most  recent  period  of  two                    consecutive  fiscal  quarters  of  the  Borrower  ended  on  or  prior  to  such  time  in                    respect  of  which  financial  statements  for  each  quarter  or  fiscal  year  in  such                    period have been or are required to be delivered pursuant to Section 6.01(a) or                    (b), as applicable, on which the Total Net Leverage Ratio at the end of each of                    such fiscal quarters was less than 4.00:1:00.                     “Ninth Amendment Effective Date” means May 9, 2018.               (f)   The provisions of this Section 7.11 are for the benefit of the Revolving Credit        Lenders  only  and  the  Required  Revolving  Credit  Lenders  may  (a)  amend,  waive  or  otherwise        modify this Section 7.11 or the defined terms used solely for purposes of this Section 7.11 or (b)        waive any Default resulting from a breach of this Section 7.11, in each case under the foregoing        clauses (a) and (b), without the consent of any Lenders other than the Required Revolving Credit        Lenders in accordance with the provisions of Section 10.01.”                  SECTION 4.  Conditions to Effectiveness.  This Amendment and the obligations of     the  Extending  Revolving  Credit  Lender  hereunder  shall  become  effective on  the  date  hereof (such     date, the “Ninth Amendment Effective Date”) upon satisfaction (or, with respect to Section 4(a)(ii)     only, waiver by the Administrative Agent) of each of the following conditions:               (a) The Administrative Agent shall have received the following, each of which shall be  originals, facsimiles or copies in .pdf form by electronic mail (followed promptly by originals):                     (i)   the Borrower’s executed counterpart signature page to this Amendment;                     (ii)  each  Guarantor’s  executed  counterpart  signature  page  to  the        acknowledgment attached to this Amendment;                     (iii) an  executed  counterpart  signature  page  to  this  Amendment  by  (A)  the        Required Revolving Credit Lenders, (B) the Swing Line Lender and (C) GS in its capacity as L/C        Issuer; and                     (iv)  an  executed  Revolving  Credit  Extension  Election  by  the  Extending        Revolving Credit Lender.               (b) Immediately before and immediately after giving effect to this Amendment, no Event  of Default shall exist.               (c) Immediately  before  and  immediately  after  giving  effect  to  this  Amendment,  the  representations and warranties of the Borrower and each other Loan Party contained in Article V of the  Credit  Agreement  or  in  any  other  Loan  Document  shall  be  true  and  correct  in  all  material  respects;  provided that, to the extent that such representations and warranties specifically refer to an earlier date,  they shall be true and correct in all material respects as of such earlier date; provided, further, that, any                                         5   1997166-NYCSR07A - MSW  

 

representation  or  warranty  that  is  qualified  as  to  “materiality,”  “Material  Adverse  Effect”  or  similar  language shall be true and correct in all respects.               (d) The Administrative Agent shall have received payment of all expenses required to be  paid  or  reimbursed  by  any  Loan  Party  under  or  in  connection  with  this  Amendment,  including  those  expenses set forth in Section 11 hereof, in each case, to the extent invoiced in reasonable detail prior to  the date hereof.               (e)  The  Borrower  shall have  paid to  the  Administrative  Agent,  for  the  account of the  Extending Revolving Credit Lender, an extension fee equal to 0.20% of its Extended Revolving Credit  Commitment on the Ninth Amendment Effective Date, payable in full on, and subject to the occurrence  of, the Ninth Amendment Effective Date.               (f) The  Administrative  Agent  shall  have  received  a  certificate,  dated  the  Ninth  Amendment Effective Date and signed by a Responsible Officer of the Borrower, confirming satisfaction  of the conditions set forth in Sections 4(b) and (c) of this Amendment.               Other than the conditions set forth in this Section 4 and in Section 2.18(e) of the Credit  Agreement, there are no other conditions (express or implied) to the Ninth Amendment Effective Date.                   SECTION 5.  Representations and Warranties.  Each of the Loan Parties represents     and warrants to the Administrative Agent and the Lenders party hereto that this Amendment has been     duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation,     enforceable against such Loan Party in accordance with its terms, subject to applicable bankruptcy,     insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject     to general principles of equity, regardless of whether considered in a proceeding in equity or at law.                  SECTION 6.  Counterparts.   This  Amendment  may  be  executed  in  counterparts     (and by different parties hereto in different counterparts), each of which shall constitute an original,     but  all  of  which  when  taken  together  shall  constitute  a  single  contract.   Delivery  of  an  executed     counterpart  of  a  signature  page  of  this  Amendment  by  facsimile  transmission  or  other  electronic     imaging  means  (including  in  .pdf  format)  shall  be  effective  as  delivery  of  a  manually  executed     counterpart of this Amendment.                  SECTION 7.  Governing  Law  and  Waiver  of  Right  to  Trial  by  Jury.   THIS     AMENDMENT  SHALL  BE  GOVERNED  BY,  AND  CONSTRUED  IN  ACCORDANCE  WITH,     THE LAW OF THE STATE OF NEW YORK. The jurisdiction and waiver of right to trial by jury     provisions in Sections 10.15 and 10.16 of the Credit Agreement are incorporated herein by reference     mutatis mutandis.                  SECTION 8.  Headings.   The  headings  of  this  Amendment  are  for  purposes  of     reference only and shall not limit or otherwise affect the meaning hereof.                  SECTION 9.  Reaffirmation.                 (a)  The  Borrower  hereby  expressly  acknowledges  the  terms  of  this  Amendment  and     acknowledges that the Extended Revolving Credit Commitment constitutes a part of the Obligations     under  the  Amended  Credit  Agreement,  and  reaffirms,  as  of  the  date  hereof,  (i)  the  covenants  and     agreements contained in each Loan Document to which it is a party, as in effect immediately after     giving effect to this Amendment and the transactions contemplated hereby, and (ii) its grant of Liens     on the Collateral to secure the Obligations pursuant to the Collateral Documents to which it is a party.                                        6   1997166-NYCSR07A - MSW  

 

            (b) Each Guarantor, by signing the acknowledgment attached to this Amendment, in its     capacity as a Guarantor under the Guaranty to which it is a party, acknowledges and agrees that the     Extended  Revolving  Credit  Commitment  constitutes  a  part  of  the  Obligations  under  the  Amended     Credit Agreement and that the guarantee contained in the Guaranty is, and shall remain, in full force     and effect immediately after giving effect to this Amendment and reaffirms, as of the date hereof, (i)     the covenants and agreements contained in each Loan Document to which it is a party, as in effect     immediately after giving effect to this Amendment and the transactions contemplated hereby, and (ii)     its grant of Liens on the Collateral to secure the Obligations pursuant to the Collateral Documents to     which it is a party.                  SECTION 10. Effect  of  Amendment;  References  to  the  Credit  Agreement;     Miscellaneous.  Except as expressly set forth herein, this Amendment (a) shall not by implication or     otherwise  limit,  impair,  constitute  a  waiver  of  or  otherwise  affect  the  rights  and  remedies  of  the     Lenders or the Agents under the Credit Agreement or any other Loan Document, and (b) shall not     alter,  modify,  amend  or  in  any  way  affect  any  of  the  terms,  conditions,  obligations,  covenants  or     agreements contained in the Credit Agreement or any other provision of the Credit Agreement or any     other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full     force  and  effect  as  amended  by  this  Amendment  (as  applicable).  All  references  to  the  Credit     Agreement  in  any  document,  instrument,  agreement,  or  writing  shall  from  and  after  the  Ninth     Amendment Effective Date be deemed to refer to the Amended Credit Agreement, and, as used in the     Amended Credit Agreement, the terms “Agreement,” “herein,” “hereafter,” “hereunder,” “hereto” and     words  of  similar  import  shall  mean,  from  and  after  the  Ninth  Amendment  Effective  Date,  the     Amended Credit Agreement.                  SECTION 11. Expenses.   The  Borrower  agrees  to  reimburse  the  Administrative     Agent  for  its  reasonable  out-of-pocket  expenses  in  connection  with  this  Amendment  to  the  extent     required under Section 10.04 of the Amended Credit Agreement.                                [Signature Pages Follow]                                         7   1997166-NYCSR07A - MSW  

 

 

 

             GOLDMAN SACHS BANK USA,              as Administrative Agent, Swing Line Lender and L/C              Issuer               By:               //~~               Name:              Title:                                Gabriel 3acobson                              Authorized Signatory   [Amendment No. 9 to Credit Agreement] 

 

             GOLDMAN SACHS BANK USA,              as Required Revolving Credit Lender               By:              Name:              Title:                                 Gabriel ]acobson                               A~thorize~ Signatory   [Amendment No. 9 to Credit Agreement] 

 

 

 

 

 

 

 

 

 

 

 

 

 

9Exhibit

MOLINA HEALTHCARE, INC. 
AMENDED AND RESTATED 
DEFERRED COMPENSATION PLAN (2018)

This Deferred Compensation Plan (the "Plan") is amended and restated effective for amounts earned and deferred on or after January 1, 2018 (the "Restatement"), by MOLINA HEALTHCARE, INC., a Delaware corporation (the "Company") with reference to the following:

A.    The Company originally established a Deferred Compensation Plan for key employees, effective September 1, 1999 (the "Original Plan"). The Original Plan was amended on March 29, 2001.

B.    As a result of the adoption of section 409A of the Internal Revenue Code of 1986 (the "Code"), the Original Plan was frozen effective at midnight on December 31, 2004.

C.    This Plan was implemented effective January 1, 2005 to replace the Original Plan with a new plan that complies with the requirements of Code section 409A and the related Treasury Regulations (and other guidance from the Internal Revenue Service) thereunder (collectively, the "409A Requirements") and amended and restated as of October 1, 2013, and subsequently amended November 14, 2013, October 29, 2014, September 1, 2016, and November 7, 2017.

D.    This Plan was established to provide key employees of the Company and its subsidiaries a tax deferred, capital accumulation program. The Plan is intended to provide benefits to a select group of management or highly compensated personnel in order to attract and retain the highest quality executives. The Company does not intend for this to be a qualified plan within the meaning of Sections 401(a) and 501(a) of the Code. This Plan is intended to be an unfunded plan for purposes of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). Company contributions and voluntary compensation deferrals shall be held in a "Rabbi Trust," as that term is defined in Revenue Procedure 92-64, 1992-2 C.B. 422.

E.    This Plan is hereby amended and restated to clarify certain provisions of the Plan.

           NOW, THEREFORE, the Company hereby adopts this Plan on the following terms and conditions:

		
	1.
	Definitions. Whenever used in this Plan, the following words and phrases shall have the meaning set forth below, unless a different meaning is expressly provided or plainly required by the context in which the words or phrases are used:

		
	1.1.
	Beneficiary means a person designated by a Participant to receive Plan benefits in the event of the Participant's death.

		
	1.2.
	Board means the Board of Directors of the Company and its successors.

		
	1.3.
	Change in Control means, a Change in Ownership, a Change in the Effective Control, a Change in Assets or a termination of the Plan and distribution of compensation deferred hereunder within twelve (12) months after any of the foregoing events. For purposes of this Section, "Company" shall include (i) the company for which a Participant is performing services at the time of the Change in Control, (ii) the company liable for the payment of the deferred compensation (or all companies liable if more than one company is liable), or a company that is a majority shareholder of a company identified in 

1

(i) or (ii), or any company in a chain of companies in which each company is a majority shareholder of another company in the chain, ending in a company  identified  in (i) or (ii). The events described in this section will not be considered to occur, with respect to an employee of a participating entity, if a participating entity is sold and the employee of the participating entity continues employment with Molina Healthcare, Inc., or any other participating entity which is considered as a single employer with Molina Healthcare, Inc. under Section 414(b) or (c) of the Code subsequent to such sale. The events described in this section have the following meanings:

		
	a.
	Change in Ownership means the acquisition of stock by any one person or persons acting in concert (a "group") of the Company, that when added to the stock of the person or group constitutes more than 50% of the total fair market value or total voting power of the stock of the Company. The acquisition of additional stock by any person or group who are already considered to own more than 50% of the stock of the Company shall not constitute a change in ownership of the Company. An increase in the percentage of stock owned by any person or group, as result of a transaction in which the Company acquires its stock in exchange for property will be treated as an acquisition of stock for purposes of this section.

		
	b.
	Change in the Effective Control means the occurrence of any of the following events, despite the fact that the Company has not undergone a Change in Ownership as described above:

		
	i.
	The acquisition by any person or group (or acquisition during the 12-month period ending on the date of the most recent acquisition by such person or persons) of ownership of stock of the Company possessing 35% or more of the total voting power of the stock, except if such acquisition is the result of a change in "record ownership" and not a change in "beneficial ownership;"

		
	ii.
	The replacement of a majority of the Company's board of directors during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Company's board of directors prior to the date of the appointment or election; or

		
	iii
	A transaction between the Company and another company resulting in a Change in Control.

		
	iv.
	Provided that this section shall not apply to the acquisition of additional control of the Company by any person or group, if that person or group is considered to effectively control the Company prior to the acquisition

		
	c.
	Change in Assets means the acquisition by any person or group (or acquisition during the 12-month period ending on the date of the most recent acquisition by such person or persons) of assets from the Company, that have a total gross fair market value equal to, or more than, 40% of the total gross fair market value of all the assets of the Company immediately prior to such acquisition or acquisitions. A transfer of assets by the Company will not be treated as a Change in Assets if the assets are transferred to any of the following (determined immediately after the transfer):

		
	i.
	A shareholder of the Company (as determined, immediately before the asset transfer) in exchange for or with respect to its stock;

		
	ii.
	An entity, 50% or more of the total value or voting power of which is owned directly or indirectly by the Company;

2

		
	iii.
	A person or group that owns, directly or indirectly, 50% or more of the total value or voting power of all the outstanding stock of the Company; or

		
	iv.
	An entity, at least 50% of the total value or voting power of which is owned, directly or indirectly, by a person described in (iii).

For purposes of this subsection (c), the gross fair market value of assets is the value of the assets of the Company or the value of the assets being disposed of with regard to any liabilities associated with such assets. If assets are transferred to an entity that is controlled by the shareholders of the transferring company immediately after the transfer, there is no Change in Control.

		
	1.4.
	Company means MOLINA HEALTHCARE, INC., a Delaware corporation.

		
	1.5.
	Company Stock means shares of stock issued by the Company.

		
	1.6.
	Disability or Disabled means with respect to a Participant (i) the inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, or (ii) the receipt of income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Company or a Subsidiary, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months.

		
	1.7.
	The original Effective Date of this Plan means January 1, 2005. The Effective Date of this Restatement shall mean January 1, 2018.

		
	1.8.
	Key Employee means an employee of the Company or a Subsidiary, who is (A) a member of a select group of management or highly compensated employees within the meaning of §2520.104-23 of the Department of Labor ERISA Regulations, (B) projected to receive Plan Year Compensation  (base pay plus bonus), plus amounts deferred to any 401(k) plan, deferred compensation plan, or cafeteria plan maintained by the Company, of $200,000 or more and (C) designated by the Plan Committee as a Key Employee.

		
	1.9.
	Participant means (A) a Key Employee who timely files a Written Election pursuant to Section 2.3, below, and (B) a former Employee who, at the time of his Separation from Service, death, or Disability, retains, or whose beneficiary retains, benefits earned under the Plan in accordance with its terms. A Participant is considered an Active Participant in the Plan (even if the Participant no longer satisfies the requirements of Section 1.8(B) but subject to the right of the Company’s Chief Executive Officer to no longer designate such employee as a Key Employee) until the Participant separates from service under the terms of this Plan.

		
	1.10.
	Plan means the Molina Healthcare, Inc. Amended and Restated Deferred Compensation Plan (2018) evidenced by this document and the Trust Agreement previously established in connection herewith.

		
	1.11.
	Plan Committee means the individuals appointed by the Board from time to time to administer the Plan as provided herein.

		
	1.12.
	Plan Year means the calendar year.

3

		
	1.13.
	Plan Year Compensation means the total taxable income (other than Share Awards) paid to an Active Participant by the Company or a Subsidiary during any Plan Year, or portion thereof in which he is a Participant in this Plan, as reflected on a Key Employee's form W-2.

		
	1.14.
	Separation from Service. A separation from service with the Company or a Subsidiary, provided such separation constitutes a “separation from service” under Treasury Regulation Section 1.409A-1(h).

		
	1.15.
	Share Awards means shares of Company Stock which are awarded to a Participant as an employee by the Company or a Subsidiary.

		
	1.16.
	Specified Employee means a "key employee" of the Company (taking into account the Subsidiaries), as defined in section 416(i) of the Code without regard to paragraph five (5) thereof.

		
	1.17.
	Subsidiary means any entity in which the Company owns not less than 80% of the outstanding voting interests.

		
	1.18.
	Trust Agreement means the grantor trust established in connection with this Plan between the Company as grantor and the Trustee.

		
	1.19.
	Trustee means Union Bank of California and any successor institutional trustee named to succeed such Trustee under the terms of the Trust Agreement established in connection with this Plan.

		
	1.20.
	Unforeseeable Financial Emergency means: (i) an illness or accident of the Participant or beneficiary, the Participant's or beneficiary's spouse, or the Participant's or beneficiary's dependent; (ii) the loss of the Participant's or beneficiary's  property due to casualty; or (iii) other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant or beneficiary. Determination of whether a Participant has incurred an Unforeseeable Financial Emergency shall be made by the Plan Committee, in accordance with the requirements of Section 409A of the Code and any guidance issued thereunder.

2.    Participation.

		
	2.1.
	Eligibility. An employee of the Company or a Subsidiary is eligible to participate in this Plan upon meeting the criteria for Key Employee specified in Section 1.8. Any Key Employee who was a Participant in the Original Plan and who continued in the employ of the Company or a Subsidiary on the effective date of the Restatement will continue to be a Participant in this Plan, subject to the right of the Company's Chief Executive Officer to no longer designate such employee as a Key Employee thereafter.

		
	2.2.
	Entry Date. An employee of the Company or a Subsidiary who met the eligibility requirement specified in Section 2.1 as of the Effective Date of this Plan Restatement is a Participant in the Plan as of the Effective Date. Newly eligible employees of the Company or a Subsidiary who have met the enrollment requirements under Section 2.3 of the Plan shall commence participation in the Plan within thirty (30) days of their date of hire. An employee of the Company or a Subsidiary who meets the eligibility requirements specified in Section 2.1 but fails to meet the requirements in accordance with Section 2.3 within the period required, shall become a Participant in this Plan on the first day of the next Plan Year following submission of a Written Election form as specified in Section 2.3.

4

		
	2.3.
	Written Election by Participant. As a condition to participation in the Plan, each newly eligible Employee shall complete, sign and return to the Plan Committee a Written Election within thirty (30) days after the date the Participant becomes eligible to participate in the Plan. Annual enrollment shall be in December each year for the following Plan Year. Each Participant shall submit a Written Election prior to the first day of the Plan Year in which he or she will be a Participant.

		
	a.
	Such Written Election shall be made on the form presented to the Participant by the Plan Committee and shall set forth:

		
	i.
	his election to participate in this Plan under the terms hereof;

		
	ii.
	the amount of Plan Year Compensation the Participant has determined to defer under the Plan for the Plan Year, pursuant to Section 3.1 below;

		
	iii.
	 the investment vehicles into which the Participant desires to have his Account attributable to deferral of Plan Year Compensation invested, as provided in Section 3.5 below, and the percentage of such Account allocated to each elected investment vehicle;

		
	iv.
	the date on which his benefit is to be distributed which  is the earliest of: (a) the date specified for an In-Service Withdrawal; (b) an Unforeseeable Financial Emergency; (c) the later of (i) when he separates from service with the Company or a Subsidiary for any reason or (ii) a date subsequent to his termination of employment specified by the Participant;

		
	v.
	the form in which his benefit is to be distributed upon an In-Service Withdrawal, Separation from Service, Disability or death.

		
	b.
	A Participant must provide a separate Written Election for each subsequent Plan Year that specifies the percentage of the Plan Year Compensation that Participant has determined to defer for each such Plan Year. Such Written Election is only effective for the Plan Year for which the election is made and if no Written Election to defer Plan Year Compensation is executed in relation to a subsequent Plan Year, no Plan Year Compensation will be deferred for such subsequent Plan Year. Any election of the amount of Plan Year Compensation to defer for a given Plan Year shall be irrevocable on and after the first day of the Plan Year for which the election was made.

		
	c.
	A Participant may change the investment vehicle(s) in which the Participant desires to have that portion of the Participant’s Account attributable to Plan Year Compensation and investment income invested and the percentage of the Participant’s Account allocated to each investment vehicle by completing and submitting any form or forms required by the Company.  Changes in investment vehicle(s) will be made as of the applicable business day (or as soon as practicable thereafter) following the date that the change is requested.

		
	d.
	Notwithstanding the foregoing, the Trustee shall, at the direction of the Plan Committee, have the duty and authority to invest the trust assets and funds in accordance with the terms of the Trust Agreement, and all rights associated with the trust assets shall be exercised by the Trustee as designated by the Plan Committee and shall in no event be exercisable by or be settled upon Participants or their Beneficiaries. 

5

		
	e.
	A Participant may change the date or form of distribution by submitting a new Written Election to the Company, provided that the following conditions are met:

		
	i.
	That such election may not take effect until at least twelve (12) months after the date on which the election is made;

    
		
	ii.
	In the case of an election related to a payment other than a payment on account of death, disability or the occurrence of a financial hardship, such payment must be deferred for a period of not less than five (5) years from the date such payment would have otherwise been made, and

		
	iii.
	Any election related to a payment at a specified time or pursuant to a fixed schedule may not be made less than twelve (12) months prior to the date of the first scheduled payment.

		
	iv.
	Such election may be made among the payment options set forth in Section 5.4. 

		
	2.4.
	Duration of Participation. Any Key Employee who has become a Participant at any time shall remain a Participant, even though he is no longer an Active Participant, until his entire benefit under the terms of the Plan has been paid to him (or to his Beneficiary in the event of his death), at which time he ceases to be a Participant.

		
	2.5.
	Maintenance of Records. The annual Designation of Participants by the Plan Committee shall be maintained in the corporate minute book.  The Written Elections by Participants shall be maintained in the corporate records with all other files pertaining to this Plan by the Plan Committee.

3.    Contributions and Allocation.

		
	3.1
	Participant Contributions.  A Participant may elect to defer a portion of (i) up to 75% of Plan Year Compensation constituting base pay and (ii) up to 100% of all other Plan Year Compensation eligible for deferral under this Plan (including bonus pay). For a Participant’s initial Plan Year of participation, the minimum deferral percentage for base pay and bonus pay must be 3% for each such component. For succeeding years of participation, a Participant may not defer an amount less than the minimum percentage established from year to year by the Plan Committee.  A written election must be submitted, pursuant to the terms of Section 2.3, specifying the percentage of Plan Year Compensation constituting base pay the Participant has chosen to defer.  A separate written election must be submitted, pursuant to the terms of Section 2.3, specifying the percentage of all other Plan Year Compensation eligible for deferral under this Plan (including bonus pay) the Participant has chosen to defer.  Once a Participant’s contributions for a Plan Year reach the Participant’s elected percentage, such Participant shall not be allowed to defer additional portions of such Participant’s Plan Year Compensation for the remainder of the Plan Year.  Any amounts in excess of the Participant’s elected percentage inadvertently deferred shall be refunded to the Participant as soon as practicable. 

		
	3.2.
	Company Contributions. The Company may, subject to the sole discretion of its Board of Directors, make contributions for the Participants, reserving the right to discriminate among the Participants in the amount or percentage of contributions made in any Plan Year.

		
	3.3.
	Allocation of Participant Contributions. All amounts which a Participant elects to defer under the terms of this Plan shall be allocated to his Account as of the last business day of each month. Each such Participant Deferral Account shall be credited with earnings as provided in Section 3.5 below.

6

		
	3.4.
	Allocation of Company Contributions. Any amounts contributed by the Company on behalf of a Participant under Section 3.2 above shall be allocated to the Company Contribution Account of each Participant. Each such Company Contribution Account shall be credited with earnings as provided in Section 3.5 below.

		
	3.5
	Credited Earnings.  The Account of each Participant (which includes such Participant’s Participant Deferral Account established under Section 3.1 and such Participant’s Company Contribution Account established under Section 3.2) shall be credited as of each applicable business day with the actual earnings on the investments allocated to the Participant’s Account. 

		
	3.6.
	Funding. The assets of the Plan shall be held under the Trust Agreement (a "grantor trust") designated in Section 8. As such, the Plan is intended to be an unfunded plan for purposes of the requirements of ERISA and the Code.

Notwithstanding the provisions under the terms of the Plan that amounts contributed to this Plan, plus earnings thereon, shall be allocated to separate Accounts of Participants, all such amounts credited to such individual Accounts shall remain the general assets of the Company, and as such shall remain subject to the claims of the general creditors of the Company. This Plan and the related Trust Agreement do not create, nor does any employee, Participant or Beneficiary have, any right with respect to any specific assets of the Company or the Plan.

		
	4.
	Vesting of Accounts. The Participant Deferral Accounts and the Company Contribution Account of each Participant shall be 100% vested in such Participant at all times.

5.    Types of Benefits.

		
	5.1.
	Separation from Service Benefit. A Participant's Separation from Service Benefit is the unpaid balance of his Accounts which equals the total of all contributions made by the Participant and the Company allocated to his Account and all earnings credited to his Account in accordance with the terms of the Plan and the Trust Agreement, less any distributions already paid.

		
	5.2.
	Disability Benefit. If a Participant becomes Disabled as defined in Section 1.6 above, the Company will pay his Separation from Service Benefit, calculated under Section 5.1, in the applicable form elected by the Participant in his Written Election.

A Participant who believes he has suffered a Disability within the meaning of Section 1.6 shall make application to the Plan Committee, on a form prescribed by the Plan Committee, for a determination of whether he is Disabled under the terms of Section 1.6. The Participant shall make such written application to the Plan Committee on or after the date which is at least five (5) consecutive months following the date he first suffered the impairment under consideration. Any determination by the Plan Committee that a Disability exists under the provisions of Section 1.6 shall be effective only after the date the Disability has existed for six (6) consecutive months. All determinations made by the Plan Committee shall be final, and no Participant shall be considered Disabled for any purpose whatsoever under the provisions of this Plan if determined not to be Disabled by the Plan Committee under the procedures set forth in this Section.

The Plan Committee shall notify each Participant who has made application under this Section 5.2, in writing, of its determination within three (3) months of the date the Plan Committee receives the Participant's application hereunder. The Participant shall cooperate in providing any information to the Plan Committee which it requires in making its determination, including, but not limited to, access to the Participant's medical records, direct 

7

contact with his physician, and physical examination by a physician selected by the Company. Any Participant who does not fully cooperate shall be deemed not Disabled by the Plan Committee and so notified.

		
	5.3.
	Death Benefit.

		
	a.
	If a Participant dies after a distribution has commenced or if the Company has not purchased a life insurance contract in connection with the Participant's Separation from Service Benefit, the Company will continue the payments of such distribution otherwise due to the Participant to his designated Beneficiary, in the applicable form elected by the Participant in his Written Election.

		
	b.
	If a Participant dies while still employed by the Company or a Subsidiary and the Company has purchased a life insurance contract in connection with such Participant's Separation from Service Benefit, the Company will pay the Participant's designated Beneficiary the greatest of:  (i) twice the Participant’s base salary upon initial eligibility for the Plan; (ii) $500,000; or (iii) if the Participant was a Participant prior to January 1, 2018, the amount specified under the Plan prior to such date, in the applicable form elected by the Participant in his Written Election. 

		
	5.4.
	In-Service Withdrawal. A Participant may designate a year in the future for receipt of an In-Service Withdrawal with respect to the Participant's contribution for a given Plan Year. Such withdrawal may be paid while the Participant remains employed with the Company or a Subsidiary. Initial designations made with respect to the 2018 Plan Year in accordance with Section 2.3(a)(iv) (as may be subsequently modified under Section 2.3(b)) shall include Credited Earnings attributable to such Participant Contribution.  The In-Service Withdrawal will be paid in a lump sum unless the Participant elects to receive substantially equal annual installments from two (2) to five (5) years, commencing no earlier than three (3) years after the Plan Year during which such Participant Contributions are made; provided, however, that a Participant may make a subsequent deferral election with respect to any initial In-Service Withdrawal election made under this Plan subject to the following requirements:

		
	a.
	the Participant must deliver to the Company a written election not later than twelve (12) months prior to the date the payment is scheduled to be paid;

		
	b.
	the payments that are subject to the election must be delayed at least five (5) years from the date the payments would have otherwise been made; and

		
	c.
	the election will not take effect until at least twelve (12) months after the election is made.

		
	5.5.
	Unforeseeable Financial Emergency Benefit. A Participant may request a portion of his Separation from Service Benefit as an Unforeseeable Financial Emergency Benefit at any time by providing the Plan Committee, to its satisfaction, with a written request, proof of an Unforeseeable Financial Emergency, and proof that all other financial resources have been explored and utilized to: (i) receive a partial or full payout from the Plan and/or (ii) suspend any deferrals required to be made by a Participant. The amount of an Unforeseeable Financial Emergency Benefit shall be limited to the lesser of the amount needed for the financial hardship or such Participant's Separation from Service Benefit. If a Participant receives a distribution as a result of an Unforeseeable Financial Emergency, such Participant may not participate in the Plan during the Plan Year following the year of the hardship distribution.

8

6.    Distributions.

		
	6.1.
	Form of Benefits. The Company shall pay benefits in the form associated with Type of Benefit elected by the Participant, and, to the extent a Type of Benefit may be distributed in various forms, the Company shall pay benefits in the form elected by the Participant. The forms of benefits associated with the Types of Benefits are the following:

		
	a.
	Separation from Service Benefit, Disability Benefit, and  Death  Benefit shall be paid in (i) one lump sum; (ii) 5 yearly installments; (iii) 10 yearly installments; or (iv) 15 yearly installments;

		
	b.
	In-Service Withdrawal shall be paid as provided in Section 5.4 above; and

		
	c.
	Unforeseeable Financial Emergency Benefit shall be paid in one lump sum.

		
	6.2.
	Commencement of Payments. The Company will pay, or begin to pay, the Types of Benefits under this Plan to the Participant in accordance with the following:

		
	a.
	Separation from Service Benefit, Disability Benefit, and Death Benefit payments shall  commence no later than sixty-five (65) days following the date on which the Participant retires, terminates service, becomes disabled, or dies;

		
	b.
	In-Service Withdrawal payments shall commence on the date designated by the Participant on his Written Election pursuant to Section 2.3, provided that such payments are from Participant Contributions that have been in such Participant's Participant Deferral Account for at least two years;

		
	c.
	Unforeseeable Financial Emergency Benefit payments shall commence no later than sixty-five (65) days after a request for an Unforeseeable Financial Emergency Benefit is approved by the Plan Committee.

		
	6.3.
	Domestic Relations Order. In the event the Plan Committee receives a Domestic Relations Order from a potential Alternate Payee, the Plan Committee shall notify the Participant whose benefit is the subject of such order and provide him/her with information concerning the Plan's procedures for administering Qualified Domestic Relations Orders ("QDROs"). Unless and until the order is set aside, the following provisions shall apply:

		
	a.
	The Plan Committee shall within a reasonable time determine whether the order is a QDRO and shall notify the Participant whose benefit is the subject of the order, of its determination. The Plan Committee may designate a representative to carry out its duties under this provision.

		
	b.
	Nothing in this Section shall be deemed to allow payment under a QDRO to an Alternate Payee of any benefit which would violate Section 409A of the Code and the regulations thereunder.

		
	c.
	QDRO definitions. For purposes of Section 6.3 the following definitions and rules shall apply:

9

		
	i.
	Alternate Payee means any spouse, former spouse, child or other dependent of a Participant who is recognized by a QDRO as having a right to receive all, or a portion of, the benefits payable under this Plan with respect to the Participant.

		
	ii.
	Domestic Relations Order means any judgment, decree, or order (including approval of a property settlement agreement) which:

		
	(1)
	relates to the provision of child support, alimony payments, or marital property rights to a spouse, child, or other dependent of a Participant; and

		
	(2)
	is  made  pursuant  to  a  state  domestic  relations  law (including a community property law).

		
	iii. 
	Qualified Domestic Relations   Order   means   any   Domestic Relations Order meeting the requirements for a Qualified Domestic Relations Order under Code section 414(p), which satisfies any additional criteria under policies established by the Plan Committee.

		
	6.4
	Limited Cashout. Notwithstanding any Written Election made by the Participant, if, upon the Participant’s Separation from Service, such Participant’s accrued benefit under the Plan (and any other deferred compensation plan required to be aggregated with this Plan) does not exceed the then-current limit under Section 402(g)(1)(B) of the Code, the Company shall immediately distribute such Participant’s accrued benefit under the Plan in a single lump sum payment to the Participant (or the Beneficiary, if the Participant is deceased), provided that such distribution results in a termination and complete liquidation of such Participant’s interest under the Plan (and any other deferred compensation plan required to be aggregated by this Plan).

Notwithstanding sections 6.2 and 7.3, distributions to a Specified Employee shall not commence earlier than six (6) months after the date such Specified Employee experiences a Separation from Service (or, if earlier, the date of death of the employee).

7.    Amendment, Termination of Plan, Change in Control.

		
	7.1.
	Amendment. The Company reserves the right to amend the Plan at any time by resolution of the Plan Committee. The Plan Committee will determine the effective date of any such amendment. The amendment may not deprive any Participant or Beneficiary of any portion of a benefit under the terms of this Plan at the time of the amendment.

		
	7.2.
	Termination of Plan. The Company reserves the right to terminate the Plan under the following circumstances:

		
	a.
	The Plan Committee may resolve to terminate the Plan provided that:

		
	i.
	all arrangements of the same type (account balance plans, nonaccount balance plans, separation pay plans or other arrangements) are terminated with respect to all participants; 

		
	ii
	no payments other than those otherwise payable under the terms of the Plan absent a termination of the Plan are made within twelve (12) months of the termination of the arrangement;

10

		
	iii.
	all payments are made within twenty-four (24) moths of the termination of the arrangement; and

		
	iv.
	the Company does not adopt a new arrangement that would be aggregated with any terminated arrangement under the plan aggregation rules at any time for a period of five years following the date of termination of the arrangement.

		
	b.
	The Plan Committee may terminate the Plan and make payments to the Participants at any time during the twelve (12) months following a change in control of the corporation;

		
	c.
	A corporate dissolution taxed under Section 331, or with the approval of a bankruptcy court pursuant to 11 U.S.C. §503(b)(l)(A), provided that the amounts deferred under the Plan are included in the Participants' gross incomes by the latest of:

		
	i.
	the calendar year in which the Plan termination occurs,

		
	ii.
	the calendar year in which the amount is no longer subject to a substantial risk of forfeiture, or

		
	iii. 
	the first calendar year in which the payment is administratively practicable.

		
	7.3.
	Change in Control. In the event of a Change in Control, the Company shall, as soon as possible, but in no event later than ten days after the Change in Control, notify the Trustee, and the Trustee or its agent shall immediately calculate the Separation from Service Benefit of each affected Participant and distribute such amounts to the Participant or Beneficiary in a lump sum as soon as administratively feasible after the Change in Control, but in no event later than the last day of the year in which the Change in Control occurs.  If the Company fails to notify the Trustee as specified in this section, the Trustee may act upon notification of the "Change of Control" obtained in an alternate manner. The Trustee shall incur no liability to any person for any action taken pursuant to such notification and in conformity with the terms of the Plan.

		
	8.
	Benefits Not Funded. Participants and Beneficiaries have the status of unsecured creditors of the Company, and the Plan constitutes a mere promise by the Company to make benefit payments in the future. A Participant's or Beneficiary's interest in the Plan is an unsecured claim against the general assets of the Company, and neither the Participant nor a Beneficiary has any right against the account until the Plan has distributed the benefit. All amounts credited to an account are the general assets of the Company and may be disposed of or used by the Company in such manner as it determines.

Notwithstanding the first paragraph of this Section 8, the Company will make deposits to a trust pursuant to a Trust Agreement, a copy of which is attached, as provided above. Such Trust Agreement created by the Company is intended to be a grantor trust, and any assets held by such trust to assist the Company in meeting its obligations under the Plan will conform to the terms of the model trust, as described in Revenue Procedure 92-64, 1992-2 C.B. 422, promulgated by the Internal Revenue Service. The Company will make a transfer of cash to the trust annually in the amount necessary to pay the deferred compensation required.

It is the intention of the parties that this Plan and the accompanying Trust Agreement shall constitute an unfunded arrangement maintained for the purpose of providing deferred compensation for a select group of management or highly compensated employees for purposes of Title I of ERISA.

11

9.    Administration.

		
	9.1.
	Plan Committee. The Plan shall be administered by the Plan Committee. The Plan Committee shall have full authority and power to administer and construe the Plan, subject to applicable requirements of law. Without limiting the generality of the foregoing, the Plan Committee shall have the powers indicated in the foregoing Sections of the Plan and the following additional powers and duties:

		
	a.
	To make and enforce such rules and regulations as it deems necessary or proper for the administration of the Plan;

		
	b.
	To interpret the Plan and to decide all questions concerning the Plan;

		
	c.
	To determine the amount and the recipient of any payments to be made under the Plan;

		
	d.
	To designate and value any investments deemed held in the Accounts; and

		
	e.
	To make all other determinations and to take all other steps necessary or advisable for the administration of the Plan.

All decisions made by the Plan Committee pursuant to the provisions of the Plan shall be made in its sole discretion and shall be final; conclusive, and binding upon all parties.

		
	9.2.
	Delegation of Duties. The Plan Committee may delegate such of its duties and may engage such experts and other persons as it deems appropriate in connection with administering the Plan. The Plan Committee shall be fully protected in any action taken, in good faith, in reliance upon any opinions or reports furnished them by any such experts or other persons.

		
	9.3.
	Indemnification of Committee. The Company agrees to indemnify and to defend to the fullest extent permitted by law any person serving as a member of the Plan Committee, and each employee of the Company or any of its affiliates appointed by the Plan Committee to carry out duties under this Plan, against all liabilities, damages,  costs and expenses  (including  attorneys'  fees and amounts paid  in settlement of any claims approved by the Company) occasioned by any act or omission to act in connection with the Plan, if such act or omission is in good faith.

		
	9.4.
	Liability. To the extent permitted by law, neither the Plan Committee nor any other person shall incur any liability for any acts or for any failure to act except for liability arising out of such person's own willful misconduct or willful breach of the Plan.

		
	9.5.
	Claims Review Procedure.

		
	a.
	A claim for benefits may be filed, in writing, with the Plan Committee. A written disposition of a claim shall be furnished to the claimant within a reasonable time after the claim for benefits is filed. In the event a claim for benefits is denied, the Plan Committee shall provide the claimant with the reasons for denial.

		
	b.
	A claimant whose claim for benefits was denied may file for a review of such denial, with the Plan Committee, no later than 60 days after he has received written notification of the denial.

12

		
	c.
	The Plan Committee shall give a request for review a full and fair review. If the claim for benefits is denied upon completion of a full and fair review, notice of such denial shall be provided to the claimant within 60 days after the Plan Committee's receipt of such written claim for review. This 60-day period may be extended in the event of special circumstances. Such special circumstances shall be communicated to the claimant in writing within the 60-day period. If there is an extension, a decision shall be made as soon as possible, but not later than 120 days after receipt by the Plan Committee of such claim for review.

		
	d.
	If benefits are provided or administered by an insurance company, insurance service, or other similar organization which is subject to regulation under the insurance laws of a state, the claims procedure relating to these benefits may provide for review. If so, that company, service, or organization will be the entity to which claims are addressed.

10.    General Provisions

		
	10.1.
	Designation of Beneficiary. Each Participant shall designate, in writing, prior to the date he first becomes a Participant in the Plan, one or more beneficiaries to receive his benefit under the provisions of Section 5.3. The Participant shall file the written designation with the Plan Committee. The Participant may revoke a previous beneficiary designation by filing a new written beneficiary designation with the Plan Committee.

In any event, if a Participant or Beneficiary who has designated another Beneficiary is divorced, all beneficiary designations executed prior to the effective date of the dissolution of marriage (or other decree or order entered under applicable state law) are automatically revoked under the terms of this Section 10.1. In such event, the Participant or Beneficiary may designate one or more Beneficiaries in accordance with the terms of this Section 10.1. If none is made following the effective date of the dissolution of the marriage, the individual's benefit shall pass under the laws of intestate succession and the terms of the next following paragraph.

If a Participant fails to file a valid designation of beneficiary with the Plan Committee under the provisions of this Section 10.1, or if a designated Beneficiary fails to survive to receive any or all payments due hereunder, then the death benefit payable under this Plan shall be payable to the Participant's (or the Beneficiary's) spouse; if no spouse survives, then to the Participant's (or Beneficiary's) children, with equal shares among living children and with the living descendants of a deceased child receiving equal portions of the deceased child's share; in the absence of spouse or descendants, to the Participant's (or Beneficiary's) parents; and in the absence of spouse, descendants or parents, to the Participant's (or Beneficiary's) brothers and sisters, with the living descendants of a deceased brother and those of a deceased sister receiving equal portions of the deceased brother's or sister's share; in the absence of any of the persons named herein, to the Participant's (or Beneficiary's) estate.

For purposes of this Section 10.1, the term "descendant" means all persons who are descended from the person referred to either by birth to or legal adoption by such person, and "child" or "children" includes adopted children.

		
	10.2.
	Benefits Not Assignable. The rights of each Participant are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors of the Participant or any Beneficiary. Neither the Participant nor Beneficiary may assign, transfer or pledge the benefits under this Plan. Any attempt to assign, transfer or pledge a Participant's benefits under this Plan is void.

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	10.3.
	Benefit. This Plan constitutes an agreement between the Company and each of the Participants which is binding upon and inures to the Company, its successors and assigns and upon the Participant and his heirs and legal representatives.

		
	10.4.
	Headings. The headings of the Articles and Sections of this Plan are included for purposes of convenience only, and shall not affect the construction or interpretation of any of it provisions.

		
	10.5.
	Notices. All notices, requests, demands, and other communications under this Plan shall be in writing and shall be deemed to have been duly given on the date of service if served personally on the party to whom notice is to be given, or on the third day after mailing if mailed to the party to whom notice is to be given, by first class mail, registered or certified (return receipt requested), postage prepaid, and properly addressed to the last known address to each party as set forth on the first page thereof. Any party may change its address for purposes of this Section by giving the other parties written notice of the new address in the manner set forth above.

		
	10.6.
	No Loans. The Plan does not permit any loans to be made to any Participant or Beneficiary.

		
	10.7.
	Gender Usage. The use of the masculine gender includes the feminine gender for all purposes of this Plan.

		
	10.8.
	Expenses. Costs of administration of the Plan shall be paid by the Company.

IN WITNESS WHEREOF, the Company has executed this Amended and Restated Deferred Compensation Plan (2018) on July 16, 2018, effective as of the Effective Date.

MOLINA HEALTHCARE, INC.

By: /s/ Joseph M. Zubretsky
Name: Joseph M. Zubretsky
Title: Chief Executive Officer

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