Document:

Exhibit 10.3

  
  
    Exhibit 4.5 

    CIGNA CORPORATION

        DIRECTORS EQUITY PLAN 

    Article 1. Establishment and Purposes 

    1.1 Purpose. The CIGNA Corporation Directors Equity Plan (the “Plan”) is intended to (a) encourage ownership of the Company’s common stock by members of the Board
      of Directors of the Company (the “Board”) who are not employees or officers of the Company and thereby align such directors’ interests more closely with the interests of the shareholders of the Company, and (b) enhance the Company’s ability to
      attract and retain directors of outstanding competence. 

    1.2 Establishment. CIGNA Corporation has adopted this CIGNA Corporation Directors Equity Plan, effective as of [January 1, 2010] (the “Effective Date”), subject to
      stockholder approval. 

    Article 2. Definitions 

    Whenever used herein, the following terms shall have the meanings set forth below, and, when the defined meaning is intended, the term is capitalized: 

    2.1 “Administrator” means the Board or any committee or subcommittee authorized to administer the Plan pursuant to Section 3.1. 

    2.2 “Award” means any Shares, Deferred Stock Units, Restricted Stock, Restricted Stock Units or Stock Options granted to a Participant pursuant to the provisions of
      the Plan. Stock Options granted pursuant to the Plan do not qualify as incentive stock options under Section 422 of the Code. 

    2.3 “Award Agreement” means a written or electronic document or agreement setting forth the terms and conditions of a specific Award. An Award Agreement
      (including any amendment thereto) may be in the form of an agreement to be executed by both the Participant and the Company (or an authorized representative of the Company) or terms, certificates, program documents, notices or similar instruments as
      approved and designated as being an Award Agreement (or amendment or portion thereof) by the Administrator. 

    2.4 “Board Fees” means annual retainer fees payable to a Director at such rate as shall be established by the Board from time to time for serving as a member of the
      Board and, if and to the extent provided by the Administrator, may include fees payable to a Director for serving as Board chair or vice-chair and/or as chair, vice-chair or member of a committee of the Board. 

    2.5 “Code” means the Internal Revenue Code of 1986, as amended from time to time. 

      

      

  

  
   

  

   

   

   

  
    2.6 “Common Stock” means the common stock, par value $0.25 per share, of the Company.

    2.7 “Company” means CIGNA Corporation, a Delaware corporation, and any successors or companies into which CIGNA Corporation may merge. 

    2.8 “Deferred Compensation Plan” means the Deferred Compensation Plan of 2005 for Directors of CIGNA Corporation (effective January 1, 2005), or any successor plan.
    

    2.9 “Deferred Stock Unit” or “DSU” means a unit that represents a right to receive one Share, or a cash payment equal to the Fair Market Value of one
      Share. 

    2.10 “Director” means a member of the Board who is neither an employee nor an officer of the Company. 

    2.11 “Equity Grant” means an award of Common Stock or Deferred Stock Units. 

    2.12 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

    2.13 “Fair Market Value” means, unless the Administrator provides otherwise, as of any date, the closing price of a share of Common Stock as reported on the
      Composite Tape (or any method of publishing stock prices determined by the Administrator) as of the close of the regular trading session on the New York Stock Exchange. If the Composite Tape (or any alternative source) is not published on that date,
      the determination will be made on the next preceding date of publication. In the absence of reported Common Stock sales, the Administrator will determine Fair Market Value by taking into account all facts and circumstances the Administrator deems
      relevant, subject to the requirements of Code Section 409A. 

    2.14 “Participant” means any person who is eligible for an Award under the Plan in consideration for his or her service as a Director. 

    2.15 “Restricted Stock” means an award of Shares made under the Plan, the grant, issuance, retention, vesting and/or transferability of which is subject to such
      conditions as are expressed in an Award Agreement. 

    2.16 “Restricted Stock Unit” or “RSU” means an award granted to a Participant pursuant to which Shares or cash in lieu thereof may be issued in the future
      on such terms and conditions as are specified in or determined pursuant to an Award Agreement. 

    2.17 “Share” means a share of Common Stock, subject to adjustment as provided in Section 7.2. 

    2.18 “Stock Option” means a right granted under the Plan to purchase a number of Shares at such exercise price, at such times, and on such other terms and
      conditions as are specified in or determined pursuant to an Award Agreement. 

      

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    2.19 “Year” means a calendar year. 

    Article 3. Administration 

    3.1 Administrator of the Plan. The Plan shall be administered by the full Board. Subject to the terms of the Plan, the Board may appoint one or more committees, and
      the Board and any such committee may appoint a subcommittee, composed of one or more directors of the Company, and may delegate to any such (sub)committee all or any of the authority of the Administrator as set forth in Section 3.2 and to take all or
      any other actions determined appropriate to administer the Plan or any aspect of it. Any action by any such (sub)committee within the scope of such delegation shall be deemed for all purposes to have been taken by the Board. Notwithstanding any
      provision of the Plan, the Board may at any time limit the authority of any (sub)committee to administer the Plan. 

    3.2 Authority of the Administrator. Subject to the express provisions of the Plan and the delegation of any responsibilities by the Board, the Administrator shall
      be authorized and empowered to do all things necessary or desirable in connection with the administration of the Plan, including, without limitation: (a) to prescribe, amend and waive rules relating to the Plan and to define terms not otherwise
      defined herein; (b) to establish the terms and conditions of Awards made under the Plan and to prescribe the form of documentation used to evidence any Awards hereunder; (c) to establish and verify the extent of satisfaction of any conditions to
      receipt or vesting of Awards; (d) to determine whether, and the extent to which, adjustments are required pursuant to Section 7.2 hereof; (e) to interpret and construe the Plan, any rules and regulations under the Plan and the terms and conditions of
      any Awards hereunder, and to make exceptions to any procedural provisions in good faith and for the benefit of the Company; (f) to amend (subject to the provisions of Section 9.1 herein) the terms and conditions of the Plan, any Awards and any
      agreement entered into under the Plan; and (g) to make other determinations which may be necessary or advisable for the administration of the Plan. 

    3.3 Decisions Binding. All decisions, determinations and interpretations by the Board or, except as to the Board, the committee arising under the Plan, any rules
      and regulations under the Plan or the terms and conditions of any Awards hereunder, including questions of construction and interpretation, shall be final, conclusive, and binding on all persons claiming benefits under the Plan and shall be given the
      maximum possible deference allowed by law. The Board and the Administrator may consider such factors as it deems relevant, in its sole and absolute discretion, in making such decisions, determinations and interpretations including, without
      limitation, the recommendations or advice of any officer or other employee of the Company and such attorneys, consultants and accountants as it may select. 

    Article 4. Participation 

    4.1 Participation. Any person who is a Director shall be eligible to receive Awards under the Plan. 

      

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    Article 5. Deferred Stock Units; Equity Grants in Lieu of Cash Board Fees 

    5.1 Deferred Stock Units. DSUs represent an unfunded and unsecured obligation of the Company, except as otherwise provided for by the Administrator, with each DSU
      being a bookkeeping entry representing an amount equivalent to one Share. DSUs may be granted at any time and from time to time prior to the termination of the Plan to Participants as determined by the Administrator. Each award of DSUs shall be
      evidenced by an Award Agreement. Subject to such terms and conditions as the Administrator may establish, a DSU may be settled through the delivery of a Share or through the payment in cash of an amount equal to the Fair Market Value of a Share as of
      the date for which the amount of such payment is determined, as established by the Administrator. 

    5.2 Payment of Board Fees in Equity. Subject to such terms and conditions as may be established from time to time by the Administrator, including without limitation
      any minimum standards or requirements for participation established by the Administrator, a Director may receive Equity Grants in lieu of all or a portion of the cash Board Fees otherwise payable to such Director each Year (or, if applicable, any
      portion thereof) for his or her service as a Director. The number of Shares subject to any Equity Grant made pursuant to this Section 5.2 shall be determined by dividing the amount of Board Fees to be paid or awarded in the form of Equity Grants, as
      determined by the Administrator or elected by the Director, by the Fair Market Value of a Share as of the date such Equity Grant is made. The date on which Equity Grants are made shall be determined by or pursuant to rules established by the
      Administrator. 

    5.3 Settlement of Outstanding DSUs. Subject to such terms and conditions as the Administrator may establish, a Director may elect to have his or her outstanding
      DSUs granted or credited prior to 2010 (including any dividend equivalents thereon) in respect of Board Fees treated as Awards for purposes of this Plan and distributed in Shares. 

    5.4 Voting Rights. Participants who receive Awards under this Article 5 shall have no voting rights with respect to Shares of Common Stock or Shares underlying DSUs
      and dividend equivalents unless and until such Shares are reflected as issued and outstanding shares on the Company’s stock ledger. 

    5.5 Dividend Equivalents. Unless provided otherwise by the Administrator, any DSUs awarded under this Article 5 and any Shares awarded under this Article 5, the
      receipt of which is deferred pursuant to a Deferred Compensation Plan, as well as any dividend equivalent Shares accrued pursuant to this Section 5.5, shall until paid or distributed to a Participant accrue dividend equivalent Shares. Dividend
      equivalent Shares represent the right to receive additional Shares and shall be credited as of the dividend payment date for Shares. Unless otherwise provided by the Administrator or, if allowed, elected by a Participant, Shares shall be issued in
      payment and satisfaction of dividend equivalents on the date that the Equity Grants as to which such dividend equivalents accrued are paid or distributed. 

    5.6 Deferral Opportunity. The Administrator may permit deferrals of awards under this Plan in accordance with such terms and conditions as it specifies. Any deferral
      election shall be made in accordance with, and subject to the terms and conditions set forth in, the Deferred Compensation Plan. 

      

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    Article 6. Other Awards 

    6.1 Restricted Stock 

    (a) Restricted Stock Award. Restricted Stock may be granted at any time and from time to time prior to the termination of the Plan to Participants as determined by
      the Administrator. Each award of Restricted Stock shall be evidenced by an Award Agreement. 

    (b) Award Agreement. Each Award Agreement evidencing an award of Restricted Stock shall contain provisions regarding (a) the number of Shares subject to such award
      of Restricted Stock or a formula for determining such, (b) the purchase price of the Shares, if any, and the means of payments, (c) the length of the restrictive period over which the Restricted Stock shall vest or may ratably vest, if any,
      (d) forfeiture provisions, if any, (e) restrictions on the transferability of the Shares, if any, and (f) such further terms and conditions, in each case not inconsistent with the Plan as may be determined from time to time by the Administrator.
      Shares subject to any Restricted Stock award shall not be transferable within less than one (1) year from the date of grant, except upon such separation of service events as specified by the Administrator. Shares issued under an award of Restricted
      Stock may be issued in the name of the Participant and held by the Participant or held by the Company, in each case as the Administrator may provide. 

    (c) Voting Rights. Unless otherwise determined by the Administrator, Participants holding shares of Restricted Stock granted hereunder may exercise full voting
      rights with respect to those shares during the period of restrictions. 

    (d) Dividends and Distributions. Participants in whose name Restricted Stock is granted shall be entitled to receive all dividends and other distributions paid with
      respect to those Shares, unless determined otherwise by the Administrator. The Administrator will determine whether any such dividends or distributions will be automatically reinvested in additional shares of Restricted Stock and subject to the same
      restrictions on transferability as the Restricted Stock with respect to which they were distributed or whether such dividends or distributions will be paid in cash and whether such cash payments will be made currently or deferred. 

    6.2 Restricted Stock Units 

    (a) RSU Award. RSUs may be granted at any time and from time to time prior to the termination of the Plan to Participants as determined by the Administrator. Each
      grant of RSUs shall be evidenced by an Award Agreement. 

      

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    (b) Award Agreement. Each Award Agreement evidencing an award of RSUs shall contain provisions regarding (a) the number of RSUs subject to such award or a formula
      for determining such, (b) the purchase price of the Shares, if any, and the means of payments, (c) the length of the restrictive period over which the RSUs shall vest or may ratably vest, if any, (d) forfeiture provisions, if any, (e) restrictions on
      the transferability of the RSUs, and (f) such further terms and conditions, in each case not inconsistent with the Plan as may be determined from time to time by the Administrator. No shares shall be issued or cash paid in settlement of an RSU within
      less than one (1) year from the date of grant, except upon such separation of service events as specified by the Administrator. 

    (c) Bookkeeping Entry. A RSU is a bookkeeping entry representing an amount equivalent to one Share. RSUs represent an unfunded and unsecured obligation of the
      Company, except as otherwise provided for by the Administrator. Subject to such terms and conditions as the Administrator may establish, a RSU may be settled through the delivery of a Share or through the payment in cash of an amount equal to the
      Fair Market Value of a Share as of the date for which the amount of such payment is determined, as established by the Administrator. 

    (d) Voting Rights. Participants shall have no voting rights with respect to Shares underlying RSUs unless and until such Shares are reflected as issued and
      outstanding shares on the Company’s stock ledger. 

    (e) Dividend Equivalents. Participants who are granted RSUs shall be entitled to dividend equivalents only to the extent provided by the Administrator. The
      Administrator will determine whether any such dividend equivalents will be automatically reinvested in additional RSUs and subject to the same terms and conditions as the RSUs with respect to which they were distributed or whether such dividend
      equivalents will be paid in cash and whether such cash payments will be made currently or deferred. 

    6.3 Stock Options 

    (a) Stock Option Awards. Stock Options may be granted at any time and from time to time prior to the termination of the Plan to Participants as determined by the
      Administrator. No Participant shall have any rights as a shareholder with respect to any Shares subject to a Stock Option hereunder until said Shares have been issued. Each Stock Option shall be evidenced by an Award Agreement. 

    (b) Award Agreement. Each Award Agreement evidencing a Stock Option shall contain provisions regarding (a) the number of Shares which may be issued upon exercise of
      the Stock Option, (b) the excercise price of the Shares and the means of payment for the Shares, (c) the term of the Stock Option, (d) such terms and conditions of exercisability as may be determined from time to time by the Administrator,
      (e) restrictions on the transfer of the Stock Option and forfeiture provisions, and (f) such further terms and conditions, in each case not inconsistent with the Plan, as may be determined from time to time by the Administrator. 

      

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    (c) Stock Option Price. The exercise price per share of the Shares subject to each Stock Option granted under the Plan shall equal or exceed 100 percent of the Fair
      Market Value of such Shares on the date the Stock Option is granted. 

    (d) Minimum Vesting. No Stock Option shall be exercisable within less than one (1) year from the date of grant, except upon such separation of service events as
      specified by the Administrator. 

    (e) Stock Option Term. The “Term” of each Stock Option granted under the Plan shall not exceed ten (10) years from the date of its grant. 

    (f) Stock Option Exercise 

    (1) Partial Exercise. An exercisable Stock Option may be exercised in whole or in part. However, a Stock Option shall not be exercisable with respect
      to fractional Shares and the Administrator may require, by the terms of the applicable Award Agreement, a partial exercise to include a minimum number of Shares. 

    (2) Manner of Exercise. All or a portion of an exercisable Stock Option shall be deemed exercised upon delivery to the representative of the Company
      designated for such purpose by the Administrator all of the following: (i) notice of exercise in such form as the Administrator authorizes specifying the number of Shares to be purchased by the Participant, (ii) payment or provision for payment of
      the exercise price for such number of Shares, (iii) such representations and documents as the Administrator, in its sole discretion, deems necessary or advisable to effect compliance with all applicable provisions of the Securities Act of 1933, as
      amended, and any other federal, state or foreign securities laws or regulations, and (iv) such other representations and documents as the Administrator, in its sole discretion, deems necessary or advisable. Unless provided otherwise by the
      Administrator, no Participant shall have any right as a shareholder with respect to any Shares purchased pursuant to any Stock Option until the registration of Shares in the name of such person, and no adjustment shall be made for dividends (ordinary
      or extraordinary, whether in cash, securities or other property) or distributions or other rights for which the record date is prior to the date such Shares are so registered. 

    (3) Payment of Exercise Price. To the extent authorized by the Administrator, the exercise price of a Stock Option may be paid in the form of one of
      more of the following, either through the terms of the applicable Award Agreement or at the time of exercise of a Stock Option: (i) cash or certified or cashiers’ check, (ii) Shares that have been held by the Participant for such period of time as
      the Administrator may specify, (iii) other property deemed acceptable by the Administrator, (iv) a reduction in the number of Shares or other property otherwise issuable pursuant to such Stock Option, or (v) any combination of (i) through (iv). 

      

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    (g) No Repricing; No Automatic Option Grants (Reloads). Without prior approval of stockholders, the Administrator may not: 

    (1) Cancel a previously granted Stock Option in exchange for cash or a replacement Award with a lower (or no) exercise price; 

    (2) Provide for any automatic grant of a new Stock Option upon a Participant’s exercise of any Stock Option granted under the Plan; or 

    (3) Amend a Stock Option to lower the exercise price, except for adjustments required or otherwise made under Article 7.2, or take any other action that could
      constitute a repricing. 

    Article 7. Shares Subject to the Plan 

    7.1 Number of Shares. Subject to adjustment as provided in this Article 7, the aggregate number of Shares issued pursuant to the Plan shall not exceed an aggregate
      of 500,000 shares of Common Stock. The aggregate number of Shares issued under the Plan at any time shall equal the number of Shares actually issued upon grant or settlement of an Award and pursuant to dividend equivalents, less any Shares retained
      or returned to the Company upon cash settlement, cancellation, expiration or forfeiture of an Award or from dividend equivalents and less any Shares retained by or delivered to the Company by or on behalf of a Participant (either actually or by
      attestation) in payment or satisfaction of any purchase price or tax obligation respecting an Award. Shares may be issued from authorized but unissued shares or out of shares held in the Company’s treasury, or both. 

    7.2 Adjustment and Changes in Shares. If the outstanding securities of the class then subject to the Plan are increased, decreased or exchanged for or converted
      into cash, property or a different number or kind of shares or securities, or if cash, property or shares or securities are distributed in respect of such outstanding securities, in either case as a result of a reorganization, reclassification,
      dividend (other than a regular, periodic cash dividend) or other distribution, stock split, reverse stock split, spin-off or the like, then the maximum number and type of shares or other securities that may be issued under the Plan and that are
      subject to outstanding Awards (including awards of Common Stock the receipt of which has been deferred) shall be appropriately adjusted. The Administrator shall determine in its sole discretion the appropriate adjustment to be effected pursuant to
      the immediately preceding sentence and in doing so shall take into account the provisions of any applicable Award Agreement. In addition, in connection with any such change in the class of securities then subject to the Plan, the Administrator shall
      make equitable adjustments in the number and type of shares or other securities or cash or other property that may be acquired pursuant to stock options and stock grants theretofore awarded under the Plan and the exercise price of such stock options
      or price, if any, of such stock grants; however no adjustment to an option shall be made in a manner that will be treated under Code Section 409A as the grant of a new option. 

      

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    Article 8. Term of the Plan 

    Unless earlier suspended or terminated by the Board, no Award may be initially awarded after the tenth anniversary of the date the Plan is approved by the Company’s
      shareholders. 

    Article 9. Miscellaneous 

    9.1 Amendment and Termination. The Board may from time to time amend the Plan; provided, however, that no amendment may without shareholder approval (a) materially
      increase the benefits accruing to participants under the Plan, (b) materially increase the number of shares of Common Stock which may be issued under the Plan, or (c) materially modify the requirements as to eligibility for participation in the Plan.
      In addition, except for an amendment adopted pursuant to Section 9.6, no amendment or alteration to the Plan shall be made which would in any material manner adversely affect any Participant’s rights to any Award or Shares theretofore accrued or
      granted to him or her hereunder, without the consent of the Participant. 

    9.2 Compliance with Securities Laws, Listing Requirements, and Other Laws and Obligations. The Company shall not be obligated to deliver any shares of Common Stock
      under the Plan, (a) until, in the opinion of the Company’s counsel, all applicable federal and state laws and regulations have been complied with, (b) if the outstanding Common Stock is at the time listed on any stock exchange, or quoted on any
      automated quotation system, until the shares to be delivered have been listed or authorized to be listed or quoted on such exchange or system upon official notice of issuance, and (c) until all other legal matters in connection with the issuance and
      delivery of such shares have been approved by the Company’s counsel. If the sale of Common Stock has not been registered under the Securities Act of 1933, as amended, the Company may require, as a condition to the payment of Common Stock, such
      representations or agreements as counsel for the Company may consider appropriate to avoid violation of such Act and may require that the certificates evidencing such Stock bear an appropriate legend restricting transfer. In addition, the Company
      may, in its discretion, withhold a portion of the Shares that otherwise would be issued under the Plan to a Participant or make other such arrangements as it determines appropriate to satisfy Federal, state and local withholding tax requirements, if
      any. 

    9.3 Successors. All obligations of the Company under the Plan shall be binding on any successor to the Company, whether the existence of such successor is the
      result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company. 

    9.4 Applicable Law. The Plan shall be construed and enforced according to the laws of the State of Delaware without regard to Delaware conflict of laws rules, to
      the extent not preempted by federal law, which shall otherwise control. 

      

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    9.5 Severability. In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the
      remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 

    9.6 Compliance with Code Section 409A. To the extent that a benefit under the Plan is subject to the requirements of Code Section 409A, it is intended that the
      Plan, as applied to that benefit, comply with the requirements of Code Section 409A, and the Plan shall be so administered and interpreted. The Administrator may make any changes required to conform the Plan and any option agreements or other grants
      with applicable Code provisions and regulations relating to deferral of compensation under Code Section 409A. 

      

    10Exhibit 4.6

     

    CIGNA DEFERRED COMPENSATION PLAN OF 2005

    (Effective as of January 1, 2005)

     

    

    Due to requirements imposed by Internal Revenue Code Section 409A, CIGNA is freezing the CIGNA Deferred Compensation Plan (Amended and Restated as of
        October 24, 2001) as of December 31, 2004 and adopting this new plan — the CIGNA Deferred Compensation Plan of 2005, effective as of January 1, 2005.  The frozen CIGNA Deferred Compensation Plan will continue to apply to amounts that were deferred
        on or before December 31, 2004 and earnings thereon.  This new plan will apply to amounts that are deferred after December 31, 2004 and earnings thereon.

     

    ARTICLE 1

    Definitions

     

    These terms have the following meanings under the Plan.

     

    1.1                               “Account”
        — the separate bookkeeping account established for a Participant that represents the Company’s unfunded, unsecured obligation to make future payments to the Participant.

     

    1.2                               “Administrator”
        — the person or committee charged with responsibility for administration of the Plan.

     

    1.3          “Affiliate” — the meaning set forth in Rule 12b-2 promulgated under the Exchange Act.

     

    1.4                               “Beneficial Owner” and “Beneficially Owned” — the meaning set forth in Rule 13d-3 promulgated under the Exchange Act.

     

    1.5                               “Beneficiary”
        — the person or trust designated in writing under the Plan by the Participant to receive payment of his/her remaining Account balance after Participant’s death.

     

    1.6          “Board Committee” — the People Resources Committee of the Board of Directors, or any successor committee.

     

    1.7          “Board of Directors” — the board of directors of CIGNA Corporation.

     

    1.8          “Change of Control” — any of these events:

     

    (a)                                 a corporation, person or group acting in concert, as described in Exchange Act Section 14(d)(2), holds or acquires beneficial ownership within the meaning of Rule 13d-3 promulgated under the Exchange Act of a number of
        preferred or 

     

    
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    common shares of CIGNA Corporation having 25% or more of the combined voting power of CIGNA Corporation’s then outstanding securities; or

     

    (b)                                 there is consummated a merger or consolidation of CIGNA Corporation or any direct or indirect subsidiary of CIGNA Corporation with any other corporation, other than:

     

    (1)           a merger or consolidation immediately following which the individuals who constituted the Board of Directors immediately prior thereto
        constitute at least a majority of the board of directors of the entity surviving such merger or consolidation or the ultimate parent thereof, or

     

    (2)           a merger or consolidation effected to implement a recapitalization of CIGNA Corporation (or similar transaction) in which no Person is or
        becomes the Beneficial Owner, directly or indirectly, of securities of CIGNA Corporation (not including in the securities Beneficially Owned by such Person any securities acquired directly from CIGNA Corporation or its Affiliates) representing 25%
        or more of the combined voting power of the CIGNA Corporation’s then outstanding securities; or

     

    (c)                                  a change occurs in the composition of the Board of Directors at any time during any consecutive 24-month period such that the Continuity Directors cease for any reason to constitute a majority of the Board of
        Directors.  For purposes of the preceding sentence “Continuity Directors” shall mean those members of the Board of Directors who either: (1) were directors at the beginning of such consecutive 24-month period; or (2) were elected by, or on
        nomination or recommendation of, at least a majority of the Board of Directors (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent
        solicitation, relating to the election of directors of CIGNA Corporation); or

     

    (d)                                 the shareholders of CIGNA Corporation approve a plan of complete liquidation or dissolution of CIGNA Corporation or there is consummated an agreement for the sale or disposition by CIGNA Corporation of all or substantially
        all of CIGNA Corporation’s assets, other than a sale or disposition by CIGNA Corporation of all or substantially all of CIGNA Corporation’s assets immediately following which the individuals who constituted the Board of Directors immediately prior
        thereto constitute at least a majority of the board of directors of the entity to which such assets are sold or disposed or any parent thereof.

     

    Notwithstanding the foregoing, a “Change of Control” shall not be deemed to have occurred by virtue of the consummation of any transaction or series of
        integrated transactions immediately following which the record holders of the common stock of CIGNA Corporation immediately prior to such transaction or series of transactions

     

  

  
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    continue to have substantially the same proportionate ownership in an entity which owns all or substantially all of the assets of CIGNA
        Corporation immediately following such transaction or series of transactions.

     

    1.9                               “CIGNA

          Stock” — the common stock of CIGNA Corporation.

     

    1.10        “Code” — the Internal Revenue Code of 1986, as amended.

     

    1.11                        “Company”
        — CIGNA Corporation and each Subsidiary that has been authorized by the Chief Executive Officer of CIGNA Corporation to participate in the Plan.

     

    1.12                        “Corporate

          Committee” — the CIGNA Corporation Corporate Benefit Plan Committee, or any successor committee.

     

    1.13                        “Deferral

          Election” — the form described in Section 2.3 by which a Participant specifies amounts and items of compensation to be deferred.

     

    1.14                        “Deferred

          Cash” — compensation deferred under the Plan that would otherwise have been paid to a Participant in cash.

     

    1.15                        “Deferred

          CIGNA Stock” — compensation deferred under the Plan that would otherwise have been paid to a Participant in shares of CIGNA Stock.

     

    1.16                        “ERISA”
        — the Employee Retirement Income Security Act of 1974, as amended.

     

    1.17                        “Exchange

          Act” — the Securities Exchange Act of 1934, as amended.

     

    1.18                        “Participant”
        — an employee of a Company who elects to participate in the Plan in accordance with the terms and conditions of the Plan.

     

    1.19                        “Payment

          Election” — the form described in Section 4.3 by which a Participant specifies the method and time of payment of compensation deferred under the Plan.

     

    1.20                        “Performance-based

          Compensation” — compensation as defined under Treasury Regulation Section 1.409A-1(e).

     

    1.21                        “Person” — the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof, except that such term
        shall not include (a) CIGNA Corporation or any of its Subsidiaries, (b) a trustee or other fiduciary holding securities under an employee benefit plan of CIGNA Corporation or any of its Affiliates, (c) an underwriter temporarily holding securities
        pursuant to an offering of such securities, or (d) a corporation owned, directly or indirectly, by the stockholders of CIGNA 

     

  

  
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    Corporation in substantially the same proportions as their ownership of stock of CIGNA Corporation.

     

    1.22                        “Plan”
        — the CIGNA Deferred Compensation Plan of 2005 (Effective as of January 1, 2005), as it may be amended or restated.

     

    1.23                        “Separation

          from Service” — a Participant’s death, retirement or other termination of employment, from the Participant’s employer or service recipient within the meaning of Treasury Regulation Section 1.409A-1(h).  For this purpose, the level of
        reasonably anticipated, permanently reduced, bona fide services that will be treated as a Separation from Service is 30%.  Generally, a Participant’s Separation from Service occurs when the Participant’s level of services to CIGNA Corporation and
        its affiliates is reduced by 70% or more.

     

    1.24                        “Stock

          Plan” — a plan or program that provides for payment of compensation in the form of shares of CIGNA Stock.

     

    1.25                        “Subsidiary”
        — a corporation (or a partnership, joint venture or other unincorporated entity) of which more than 50% of the combined voting power of all classes of stock entitled to vote (or more than 50% of the capital, equity or profits interest) is owned
        directly or indirectly by CIGNA Corporation; provided that such corporation (or other entity) is included in CIGNA Corporation’s consolidated financial statements under generally accepted accounting principles.

     

    1.26                        “Valuation

          Date” — the last day of each month.

     

    ARTICLE 2

    Participation; Deferral Elections

     

    2.1          Eligibility.  The Plan is intended primarily to provide deferred compensation for a select group of management and highly
        compensated employees.  The Corporate Committee shall determine which Company employees are eligible to participate in the Plan.

     

    2.2          Participation.   An eligible employee becomes a Participant by making a Deferral Election described in Section 2.3.

     

    2.3          Deferral Election.

     

    (a)                                 A Deferral Election specifies the amounts and items of compensation a Participant elects to defer under the Plan for a particular calendar year.  The Administrator shall determine which items or categories of compensation
        may be deferred under the Plan.  The Deferral Election must be timely (as described in Section 2.3(b)) and in a form permitted or required 

     

  

  
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    by the Administrator.  The Administrator may permit or require electronic forms.  The Administrator shall determine whether a Deferral Election form
        is sufficiently complete and timely and may reject any form that is incomplete and/or untimely.

     

    (b)           To be timely, a Deferral Election must be received by the Administrator no later than:

     

     

    (1)                                 Six months before the end of the applicable performance period, for a deferral of Performance-based Compensation, provided that:

     

    (A) the Participant performs services for the Company continuously from the later of:

     

    (i) the beginning of the applicable performance period, or

     

    (ii) the date the applicable performance criteria are established

     

    through the date the Deferral Election is made, and

     

    (B) the Deferral Election is made before the amount of the Performance-based Compensation is both first calculable and substantially certain to be paid;

     

    (2)                                 December 31 of the year before the year in which the Participant performs services in exchange for the compensation to be deferred, for compensation other than Performance-based Compensation; or

     

     

    (3)                                 The 30th calendar day after the date a Company employee first becomes eligible to participate in the Plan, provided such employee is not already eligible to participate in a plan that would be aggregated with the Plan
        under Treasury Regulation Section 1.409A-1(c)(2), and further provided that such employee was not eligible to participate in the Plan, or any other plan that would be aggregated with the Plan under Treasury Regulation Section 1.409A-1(c)(2), at any
        time during the 24-month period ending on the date such employee again became eligible to participate in the Plan.  A Deferral Election by a newly eligible employee shall apply only to compensation for services the employee performs after the
        Administrator receives the Deferral Election.

     

    However, the Administrator may establish different deadlines to the extent permitted by Code Section 409A and the regulations thereunder.

     

    (c)                                  An employee who makes a Deferral Election must also make a Payment Election (described in Section 4.3) applicable to such Deferral Election.  If a Participant makes more than one Deferral Election in a year, the
        Administrator may require that the Payment Election applicable to the first Deferral Election shall apply to any later Deferral Election in that year.  The Payment Election must be received by the Administrator by the Deferral Election deadline
        stated in Section 2.3(b).  The Administrator shall determine when a 

     

  

  
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    Deferral Election and Payment Election become irrevocable, but in no event shall a Deferral Election or a Payment Election become irrevocable later
        than the applicable deadline set forth in Section 2.3(b) above.

     

    (d)                                 The Administrator may require Participants to make new Deferral Elections for each new calendar year.

     

    (e)                                  Deferral Elections under this Plan shall apply only to compensation payable on or after January 1, 2005 and only to the extent such compensation is:

     

    (1)                                 For services performed for the Company on or after January 1, 2005; or

     

    (2)                                 Compensation for which a Deferral Election may otherwise be made under transition rules promulgated pursuant to Code Section 409A.

     

    2.4          Cancellation of Deferral Elections.  The Plan Administrator
        may cancel the Deferral Election of a Participant who incurs a disability.  Any cancellation under this section must occur by the later of the end of the calendar year in which the Participant incurs the disability or the 15th day of the third month after the date the Participant incurs the disability.  For purposes of this section, “disability” shall have the meaning
        set forth in Treasury Regulation Section 1.409A-3(j)(4)(xii).

     

    ARTICLE 3

    Deferred Compensation Account

     

    3.1          General.  The Administrator shall establish and maintain an Account for each Participant.  The Administrator shall credit to the
        Account any compensation deferred by a Participant under the Plan.  The Administrator shall also credit (or debit) to the Account any hypothetical income (or losses) on the deferred compensation.  The credit for deferred compensation shall be
        effective as of the date the compensation would have otherwise been paid to the Participant.  The credit (or debit) for hypothetical income (or losses) shall be as provided in Section 3.3 or 3.4, as applicable.

     

    3.2          Account Balance.  The balance of each Participant’s Account shall include compensation deferred by the Participant under this Plan
        and hypothetical income (or losses).  The Account balance shall be reduced by any payments under Article 4.  The Administrator shall determine each Participant’s Account balance as of each Valuation Date.  The Administrator shall provide each
        Participant an Account statement at least annually.

     

  

  
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    3.3          Hypothetical Investment of Deferred Cash.

     

    (a)                                 Deferred Cash shall be treated as invested in one or more hypothetical investments described in Section 3.3(b).  The Administrator shall credit (or debit) to the Participant’s Account as of each Valuation Date hypothetical
        income (or losses) based on the performance of the applicable hypothetical investment.  The credit (or debit) shall be applied against the balance of Participant’s Account on the immediately preceding Valuation Date. The Administrator shall have
        authority to adopt, and from time to time change, rules and procedures for crediting (or debiting) hypothetical income (or losses) as to any amount of Deferred Cash that has been credited to a Participant’s Account for less than the entire month
        ending on the Valuation Date.

     

    (b)                                 The Corporate Committee shall determine at least one hypothetical investment for Deferred Cash and may provide some or all Plan Participants with options for more than one hypothetical investment.  The Corporate Committee
        may add or eliminate hypothetical investments at any time, but any such action shall apply to the balance of a Participant’s Account no earlier than the Valuation Date immediately after the Corporate Committee changes hypothetical investments.  The
        Administrator shall have authority to adopt rules and procedures by which a Participant with a choice of more than one hypothetical investment may change hypothetical investment elections, provided that a Participant shall not be able to make
        changes more than once each calendar quarter.

     

    (c)                                  If a Change of Control occurs, the annual income earned on at least one hypothetical fixed return guaranteed principal investment must be not less than 50 basis points over the Ten-year Constant Treasury Maturity Yield as
        reported by the Federal Reserve Board, based upon the November averages for the preceding year.

     

    3.4          Hypothetical Investment of Deferred CIGNA Stock.  Deferred CIGNA Stock shall be credited to Participant’s Account as a number of
        shares of hypothetical CIGNA Stock.  The number shall initially be the same number of shares that would have been issued to the Participant but for the deferral.  After the initial credit, the number shall be adjusted as appropriate to reflect
        stock dividends, splits and reclassifications in accordance with the terms of the applicable Stock Plan.  Deferred CIGNA Stock may not be deemed invested in any other hypothetical investment.  An amount equal to the dividends which would otherwise
        be paid on shares of Deferred CIGNA Stock shall be credited to the Participant’s Account as Deferred Cash, as of the applicable dividend payment date, and deemed invested under Section 3.3.  The Administrator shall take necessary action to avoid
        deferral or issuance of fractional shares of CIGNA Stock.

     

  

  
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    ARTICLE 4

    Payment of Deferred Compensation

     

    4.1          General.  The Company shall pay amounts credited to Participant’s Account balance according to the Participant’s Payment Elections
        or under the other applicable provisions of Article 4.  Deferred CIGNA Stock shall be paid only in shares of CIGNA Stock issued under the applicable Stock Plan.  The applicable Stock Plan is the plan under which the shares would have previously
        been issued but for the Participant’s deferral, or a successor plan.

     

    4.2          Payment Methods and Timing.

     

    (a)                                 (1)                                 Subject to the conditions in Section 4.2(b) through (f), the Administrator shall have the
        authority to determine the payment methods and timing permitted under the Plan; any such payment methods and timing shall comply with the requirements of Code Section 409A.

     

    (2)                                 Payment events under the Plan may include a Participant’s Separation from Service, a specified date before a Participant’s Separation from Service, a Participant’s unforeseeable emergency (as described in Section 4.4), the
        Participant’s death (as described in Section 4.5), or other payment events specified by the Administrator, to the extent permitted by Code Section 409A.  A payment upon a Participant’s unforeseeable emergency or death shall supersede any elected
        specified date or Separation from Service payment for the amount distributed by reason of unforeseeable emergency or death.

     

    (3)                                 Payment methods under the Plan may include lump sum and periodic payments.

     

    (b)                                 A Participant who makes a specified date Payment Election must also make a Separation from Service Payment Election that will apply instead of the specified date Payment Election if the Participant has a Separation from
        Service before the elected specified date of payment.

     

    (c)                                  If the payments are to begin as a result of a Participant’s Separation from Service then, subject to the other provisions of Article 4, payment shall be made (or begin) in July of the year following the year of the
        Participant’s Separation from Service.

     

    (d)                                 If a payment method provides for periodic payments, payments shall be made annually each July, over the elected period not to exceed 15 years.  The balance of a Participant’s Account shall be paid, in all events, no later
        than July 31st of the 15th year after the year of the Participant’s Separation from Service.

     

    (e)                                  To the extent there is not in effect at Participant’s Separation from Service a valid Payment Election for an amount, that amount shall be paid in a single lump sum in July of the year 

     

  

  
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    following the year of the Participant’s Separation from Service.

     

    (f)                                   Periodic payments
        under this Plan shall not be suspended if the Participant is rehired by the Company.

     

    4.3                               Payment

          Election.

     

    (a)                                 Subject to Section 4.2, a Payment Election must specify the payment method that shall apply to Participant’s deferred compensation and either the time of payment or the time payments are to begin.

     

    (b)                                 A Payment Election must be in a form permitted or required by the Administrator.  The Administrator may permit or require electronic forms.  The Administrator shall determine whether a Payment Election form is sufficiently
        complete and timely and may reject any form that is incomplete and/or untimely.

     

    (c)                                  A Participant may make separate Payment Elections for Deferred Cash and Deferred CIGNA Stock.

     

    4.4                               Unforeseeable Emergency Payment.

     

    (a)                                 If the Administrator, after considering a Participant’s written request, determines that the Participant has an unforeseeable emergency, as defined under Treasury Regulation Section 1.409A-3(i)(3), that is beyond the
        Participant’s control and of such a substantial nature that immediate payment of Deferred Cash or issuance of Deferred CIGNA Stock is warranted, the Administrator in its sole and absolute discretion may direct that all or a portion of the
        Participant’s Account be paid to the Participant.  The amount of the payment shall be limited to the amount deemed necessary by the Administrator to satisfy the emergency need.  The payment shall be made in a single lump sum within 90 days
        following the Administrator’s approval of Participant’s written request for an unforeseeable emergency payment.

     

    (b)                                 The Administrator shall cancel the Deferral Election of a Participant who receives a payment under Section 4.4(a) or a payment for an unforeseeable emergency, as defined under Treasury Regulation Section 1.409A-3(i)(3),
        under a predecessor to this Plan.  The cancellation shall be effective as of the date of the payment.  To resume deferrals, the Participant must make a new Deferral Election in accordance with the requirements of Section 2.3.

     

    4.5          Payments of a Deceased Participant’s Account.

     

    (a)                                 Upon the death of a Participant the Administrator shall pay any remaining portion of Participant’s Account in a single lump sum payment to Participant’s Beneficiary.  The 

     

  

  
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    Administrator may establish rules and procedures for designation of beneficiaries and shall make determinations regarding the existence and identity
        of beneficiaries and the validity of beneficiary designations.  A Participant may designate more than one beneficiary.

     

    (b)                                 Notwithstanding Section 4.5(a), the Administrator shall pay Participant’s Account in a single lump sum payment to the Participant’s estate if:

     

    (1)                                 The Participant dies without having a valid beneficiary designation in effect;

     

    (2)                                 The Participant’s designated Beneficiary died before the Participant died; or

     

    (3)                                 The Participant’s designated Beneficiary cannot be found after what the Administrator determines has been a reasonably diligent search.

     

    (c)                                  The Administrator shall make any payments described in Section 4.5(a) and (b) during the 90 day period beginning January 1 of the year following the year the Participant dies.

     

    ARTICLE 5

    General Provisions

     

    5.1          Participant’s Rights Unsecured.  The right of a Participant (or Beneficiary) to receive payments under the Plan represents an
        unsecured claim against the general assets of the Company that employs the Participant at the time that the compensation deferred otherwise would have been paid, or against the general assets of any successor company that assumes (or in case
        Participant transfers to employment with a different Company, is assigned) the liabilities of that Company.  No Company guarantees or is liable for payments to any Participant employed by any other Company.  Participant’s Account represents a mere
        promise by a Company to make payments in the future.  The Plan at all times shall be considered entirely unfunded for both tax purposes and for purposes of Title I of ERISA.

     

    5.2          Assignability.  Except as otherwise permitted by applicable law, no right to receive Plan payments shall be transferable or
        assignable by a Participant or Beneficiary or subject in any manner to anticipation, sale, alienation, pledge, encumbrance, attachment or garnishment by creditors of a Participant or Beneficiary, any such attempt shall be void and of no force or
        effect.

     

    5.3          Administration.  CIGNA Corporation’s Chief Executive Officer shall appoint the Administrator.  Except as otherwise provided by the
        Plan, the Administrator shall administer the Plan and shall have authority to adopt administrative rules and regulations. The Administrator may, by contract, designation or other arrangement, provide for others to perform ministerial duties and
        record keeping.  If the Administrator is also a Participant, the Corporate Committee (and not the Administrator) shall take any action under the Plan related to that Participant.

     

  

  
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    5.4          Administrative Discretion.   The Administrator and Corporate Committee shall, as to the responsibilities allocated to them
        separately under the Plan, have the sole and absolute discretion to interpret, construe and implement the provisions of the Plan, including any disputed or ambiguous terms; to make determinations relating to eligibility and benefits; and to make
        findings of fact.  Their determinations shall be final and binding on all parties.

     

    5.5          Amendment.  The Plan may be amended, restated, modified, or terminated by the Board of Directors or the Board Committee.  No
        amendment, restatement, modification, or termination shall reduce, impair or adversely affect the balance of a Participant’s Account as of the Valuation Date immediately preceding such action.

     

    5.6          Tax Withholding.   To the extent required by the law in effect at the time a Plan payment is made, the Administrator shall take
        appropriate action to withhold taxes from the payment.

     

    5.7          Corporate Reorganization.  If a company that employs a Participant ceases to be a Subsidiary and retains liabilities and
        responsibility for a Participant’s Account, then the Corporate Committee and Administrator shall have no further liability or responsibility for that Account or any legal obligation toward Participant after the company ceases to be a
        Subsidiary.  That company shall designate a governing committee and plan administrator, as appropriate, to assume liability and responsibility for administration of the Account as of the date the company ceases to be a Subsidiary.

     

    5.8          Section 409A Compliance.  It is intended that the Plan comply with the requirements of Code Section 409A, and the Plan shall be so
        administered and interpreted.  Notwithstanding anything in this Plan to the contrary, the Code Section 409A transition relief opportunities adopted by Board Committee Resolutions dated December 8, 2005 are incorporated by reference into this Plan.

     

    5.9          Interpretation.  All statutory or regulatory references in
        this Plan shall include successor provisions.

     

    5.10        Claims Procedure.

     

    (a)                                 Filing a Claim for Benefits.  This paragraph 5.10(a) shall apply to any claim for a benefit under the Plan.  A Participant or Beneficiary or an authorized
        representative of a Participant or Beneficiary (“Claimant”) shall notify the Administrator or its delegate of a claim for benefits under the Plan.  Such request may be in any form adequate to give reasonable notice to the Administrator or its
        delegate and shall set forth the basis of such claim and shall authorize the Administrator or its delegate to conduct such examinations as may be necessary to determine the validity of the claim and to take such steps as may be necessary to
        facilitate the payment of any benefits to which the Claimant may be entitled under the Plan.  The Administrator shall make all determinations as to the right of any person to a benefit under the Plan.

     

  

  
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    If the Administrator requires more than 90 days to process a claim because of special circumstances, an extension may be obtained by notifying the
        Claimant within 90 days of the date the claim was submitted that a decision on the claim will be delayed, what circumstances have caused the delay, and when a decision can be expected.  The extension period shall not exceed an additional 90
        days;  provided, however, that in the event the Claimant fails to submit information necessary to decide a claim, such period shall be tolled from the date on which the extension notice is sent to the Claimant until the date on which the Claimant
        responds to the request for additional information.

     

    (b)                                 Denial of Claim.  If the Administrator denies in whole or in part any claim for benefits under the Plan by any Claimant, the Administrator shall, within a reasonable
        period, furnish the Claimant with written or electronic notice of the denial.  The notice of the denial shall set forth, in a manner calculated to be understood by the Claimant:

     

    (1)                                 The specific reason or reasons for the denial;

     

    (2)                                 Specific reference to the pertinent Plan provisions on which the denial is based;

     

    (3)                                 A description of any additional material or information necessary for the Claimant to perfect the claim and an explanation of why such material or information is necessary; and

     

    (4)                                 A description of the Plan’s review procedures and the time limits applicable to such procedures, including a statement of the Claimant’s right to bring a civil action under ERISA Section 502(a) following an adverse benefit
        determination on review.

     

    (c)                                  Appeals Procedure.  This paragraph 5.10(c) shall apply to all appeals of denied claims under the Plan.  A Claimant may request a review of a denied claim.  Such request
        shall be made in writing and shall be presented to the Administrator not more than sixty (60) days after receipt by the Claimant of written or electronic notice of the denial of the claim.  The Claimant shall be provided, upon request and free of
        charge, reasonable access to, and copies of, all documents, records, and other information relevant to the Claimant’s claim for benefits.  The Claimant shall also have the opportunity to submit comments, documents, records, and other information
        relating to the claim for benefits, and the Administrator shall take into account all such information submitted without regard to whether such information was submitted or considered in the initial benefit determination. The Administrator shall
        make its decision on review not later than sixty (60) days after receipt of the Claimant’s request for review, unless special circumstances require an extension of time, in which case a decision shall be rendered as soon as possible, but not later
        than 120 days after receipt of the request for review;  provided, however, in the event the Claimant fails to submit information necessary to make a benefit determination on review, such period shall be tolled from the date on which the extension
        notice is sent to the Claimant until the date on which the Claimant responds to the request for additional 

     

  

  
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    information.  The decision on review shall be written or electronic and, in the case of an adverse determination, shall include specific reasons for
        the decision, in a manner calculated to be understood by the Claimant, and specific references to the pertinent Plan provisions on which the decision is based.  The decision on review shall also include (i) a statement that the Claimant is entitled
        to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, or other information relevant to the Claimant’s claim for benefits; and (ii) a statement describing any voluntary appeal procedures offered by
        the Plan, and a statement of the Claimant’s right to bring an action under ERISA Section 502(a).

     

    (d)                                 The Plan’s claims procedure shall be administered in accordance with the applicable regulations of the U.S. Department of Labor.

     

    (e)                                  A Claimant shall have no right to bring any action in any court regarding a claim for benefits under the Plan prior to the Claimant filing a claim for benefits and exhausting the Claimant’s rights to review under this
        Section 5.10 in accordance with the time frames set forth herein.

     

    5.11        Controlling Law.  This Plan shall be construed and enforced
        according to the laws of the Commonwealth of Pennsylvania, without regard to Pennsylvania conflict of laws rules, to the extent not preempted by federal law, which shall otherwise control.

    

    

    
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    Amendment to

    Cigna Deferred Compensation Plan of 2005

    (Effective as of January 1, 2005)

    

    

    The Cigna Deferred Compensation Plan (Effective as of January 1, 2005) (the “Plan”) is amended effective October 17, 2018 as follows:

    

    

    
      
        	

              	1.	
                Section 3.3(c) of the Plan is replaced in its entirety with the following:

              

      

    

    

    

    
      
        	

              	(c)	
                If (1) a Change of Control occurs and (2) the Cigna 401(k) Plan Fixed Income Fund is no longer available as a hypothetical investment option following such Change of
                    Control, then the annual income earned on at least one hypothetical fixed return guaranteed principal investment must be not less than 50 basis points over the Ten-year Constant Treasury Maturity Yield as reported by the Federal Reserve
                    Board, based upon the November averages for the preceding year.

              

      

    

    

    

    

  

  
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