Document:

EX-10.11

 Exhibit 10.11 

CHANGE HEALTHCARE INC. 

2019 OMNIBUS INCENTIVE PLAN 

1. Purpose. The purpose of the Change Healthcare Inc. 2019 Omnibus Incentive Plan is to provide a means through which the Company and
the other members of the Company Group may attract and retain key personnel, and to provide a means whereby directors, officers, employees, consultants, and advisors of the Company and the other members of the Company Group can acquire and maintain
an equity interest in the Company, or be paid incentive compensation, including incentive compensation measured by reference to the value of Common Stock, thereby strengthening their commitment to the welfare of the Company Group and aligning their
interests with those of the Company’s stockholders.  
 2. Definitions. The following definitions shall be applicable
throughout the Plan. 
 (a) “Absolute Share Limit” has the meaning given to such term in Section 5(b) of the
Plan. 
 (b) “Adjustment Event” has the meaning given to such term in Section 11(a) of the Plan. 

(c) “Affiliate” means any Person that directly or indirectly controls, is controlled by, or is under common control
with the Company. The term “control” (including, with correlative meaning, the terms “controlled by” and “under common control with”), as applied to any Person, means the possession, directly or indirectly, of the power
to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting or other securities, by contract, or otherwise. 

(d) “Award” means, individually or collectively, any Incentive Stock Option, Nonqualified Stock Option, Stock
Appreciation Right, Restricted Stock, Restricted Stock Unit, Other Equity-Based Award and Other Cash-Based Award granted under the Plan. 

(e) “Award Agreement” means the document or documents by which each Award (other than an Other Cash-Based Award) is
evidenced, which may be in written or electronic form. 
 (f) “Board” means the Board of Directors of the Company.

 (g) “Cause” means, as to any Participant, unless the applicable Award Agreement states otherwise,
(i) “Cause,” as defined in any employment, severance or consulting agreement between the Participant and the Service Recipient in effect at the time of such Termination, or (ii) in the absence of any such employment or consulting
agreement (or the absence of any definition of “Cause” contained therein), the Participant’s (A) willful neglect in the performance of the Participant’s duties for the Service Recipient or willful or repeated failure or
refusal to perform such duties; (B) engagement in conduct in connection with the Participant’s employment or service with the Service Recipient, which results in, or could reasonably be expected to result in, material harm to the business
or reputation of the Service Recipient or any other member of the Company Group; (C) conviction of, or plea of guilty or no contest to (I) any felony or (II) any other crime that results in, or could reasonably be expected to result
in, 

 material harm to the business or reputation of the Service Recipient or any other member of the Company
Group; (D) material violation of the written policies of the Service Recipient, including, but not limited to, those relating to sexual harassment or the disclosure or misuse of confidential information, or those set forth in the manuals or
statements of policy of the Service Recipient; (E) fraud or misappropriation, embezzlement, or misuse of funds or property belonging to the Service Recipient or any other member of the Company Group; or (F) act of personal dishonesty that
involves personal profit in connection with the Participant’s employment or service to the Service Recipient; provided, in any case, that a Participant’s resignation after an event that would be grounds for a Termination for Cause
will be treated as a Termination for Cause hereunder. 
 (h) “Change in Control” means: 

(i) the acquisition (whether by purchase, merger, consolidation, combination, or other similar transaction) by any Person of
beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% (on a fully diluted basis) of either (A) the then-outstanding shares of Common Stock, taking
into account as outstanding for this purpose such Common Stock issuable upon the exercise of options or warrants, the conversion of convertible stock or debt, the exchange of exchangeable stock or units, and the exercise of any similar right to
acquire such Common Stock; or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors, in the case of each of the
foregoing clauses (A) and (B) assuming that all Units (as defined in the Joint Venture LLC Agreement) held by MCK Members (as defined in the Joint Venture LLC Agreement) had been exchanged for an equal number of shares of Common Stock;
provided, however, that for purposes of the Plan, the following acquisitions shall not constitute a Change in Control: (I) any acquisition by the Company or any Affiliate; (II) any acquisition by any employee benefit plan
sponsored or maintained by the Company or any Affiliate; (III) in respect of an Award held by a particular Participant, any acquisition by the Participant or any group of Persons including the Participant (or any entity controlled by the
Participant or any group of Persons including the Participant); or (IV) any acquisition in connection with a Qualified MCK Exit (as defined in the Joint Venture LLC Agreement); 

(ii) during any period of 12 months, individuals who, at the beginning of such period, constitute the Board (the
“Incumbent Directors”) cease for any reason to constitute at least a majority of the Board; provided, that any Person becoming a director subsequent to the Effective Date, whose election or nomination for election was
approved by a vote of at least two-thirds of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such Person is named as a nominee
for director, without written objection to such nomination) shall be an Incumbent Director; provided, however, that no individual initially elected or nominated as a director of the Company as a result of an actual or threatened
election contest, as such terms are used in Rule 14a-12 of Regulation 14A promulgated under the Exchange Act, with respect to directors or as a result of any other actual or threatened solicitation of proxies
or consents by or on behalf of any Person other than the Board shall be deemed to be an Incumbent Director; or 

  
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 (iii) the sale, transfer, or other disposition of all or substantially all
of the assets of the Company Group (taken as a whole) to any Person that is not an Affiliate of the Company or the Joint Venture. 
 (i)
“Code” means the Internal Revenue Code of 1986, as amended, and any successor thereto. Reference in the Plan to any section of the Code shall be deemed to include any regulations or other interpretative guidance under such
section, and any amendments or successor provisions to such section, regulations, or guidance. 
 (j) “Committee”
means the Compensation Committee of the Board or any properly delegated subcommittee thereof or, if no such Compensation Committee or subcommittee thereof exists, the Board. 

(k) “Common Stock” means the common stock of the Company, par value
$                 per share (and any stock or other securities into which such Common Stock may be converted or into which it may be exchanged). 

(l) “Company” means Change Healthcare Inc., a Delaware corporation, and any successor thereto. 

(m) “Company Group” means, collectively, the Company, the Joint Venture, and the Joint Venture’s Subsidiaries.

 (n) “Date of Grant” means the date on which the granting of an Award is authorized, or such other date as may be
specified in such authorization. 
 (o) “Designated Foreign Subsidiaries” means all members of the Company Group that
are organized under the laws of any jurisdiction or country other than the United States of America that may be designated by the Board or the Committee from time to time. 

(p) “Detrimental Activity” means any of the following: (i) unauthorized disclosure of any confidential or
proprietary information of any member of the Company Group; (ii) any activity that would be grounds to terminate the Participant’s employment or service with the Service Recipient for Cause; (iii) a breach by the Participant of any
restrictive covenant by which such Participant is bound, including, without limitation, any covenant not to compete or not to solicit, in any agreement with any member of the Company Group; or (iv) fraud or conduct contributing to any financial
restatements or irregularities, as determined by the Committee in its sole discretion. 
 (q) “Disability” means, as
to any Participant, unless the applicable Award Agreement states otherwise, (i) “Disability,” as defined in any employment or consulting agreement between the Participant and the Service Recipient in effect at the time of such Termination;
or (ii) in the absence of any such employment or consulting agreement (or the absence of any definition of “Disability” contained therein), a condition entitling the Participant to receive benefits under a long-term disability plan of
the Service Recipient or other member of the Company Group in which such Participant is eligible to participate, or, in the absence of such a plan, the complete and permanent inability of the Participant by reason of illness or accident to perform
the duties of the position at which the Participant was employed or served when such disability commenced. Any determination of whether Disability exists in the absence of a long-term disability plan shall be made by the Company (or its designee) in
its sole and absolute discretion. 

  
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 (r) “Effective Date” means the date on which the Company enters into
an agreement to consummate an initial public offering of the Common Stock pursuant to a registration filed with the Securities Exchange Commission pursuant to the Securities Act. 

(s) “Eligible Person” means any: (i) individual employed by any member of the Company Group; provided,
however, that no such employee covered by a collective bargaining agreement shall be an Eligible Person unless and to the extent that such eligibility is set forth in such collective bargaining agreement or in an agreement or instrument
relating thereto; (ii) director or officer of any member of the Company Group; or (iii) consultant or advisor to any member of the Company Group who may be offered securities registrable pursuant to a registration statement on Form S-8 under the Securities Act, who, in the case of each of clauses (i) through (iii) above, has entered into an Award Agreement or who has received written notification from the Committee or its designee that
they have been selected to participate in the Plan. 
 (t) “Exchange Act” means the Securities Exchange Act of 1934,
as amended, and any successor thereto. Reference in the Plan to any section of (or rule promulgated under) the Exchange Act shall be deemed to include any rules, regulations, or other interpretative guidance under such section or rule, and any
amendments or successor provisions to such section, rules, regulations, or guidance. 
 (u) “Exercise Price” has the
meaning given to such term in Section 7(b) of the Plan. 
 (v) “Fair Market Value” means, on a given date:
(i) if the Common Stock is listed on a national securities exchange, the closing sales price of the Common Stock reported on the primary exchange on which the Common Stock is listed and traded on such date, or, if there are no such sales on
that date, then on the last preceding date on which such sales were reported; (ii) if the Common Stock is not listed on any national securities exchange but is quoted in an inter-dealer quotation system on a last-sale basis, the average between
the closing bid price and ask price reported on such date, or, if there is no such sale on that date, then on the last preceding date on which a sale was reported; or (iii) if the Common Stock is not listed on a national securities exchange or
quoted in an inter-dealer quotation system on a last-sale basis, the amount determined by the Committee in good faith to be the fair market value of the Common Stock; provided, however, as to any Awards granted on or with a Date of
Grant of the date of the pricing of the Company’s initial public offering, “Fair Market Value” shall be equal to the per share price at which the Common Stock is offered to the public in connection with such initial public offering.

 (w) “GAAP” has the meaning given to such term in Section 7(d) of the Plan. 

(x) “Immediate Family Members” has the meaning given to such term in Section 13(b) of the Plan. 

  
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 (y) “Incentive Stock Option” means an Option which is designated by
the Committee as an incentive stock option as described in Section 422 of the Code and otherwise meets the requirements set forth in the Plan. 

(z) “Indemnifiable Person” has the meaning given to such term in Section 4(e) of the Plan. 

(aa) “Joint Venture” means Change Healthcare LLC, a Delaware limited liability company. 

(bb) “Joint Venture LLC Agreement” means the Third Amended and Restated Limited Liability Company Agreement of Change
Healthcare LLC, dated as of March 1, 2017. 
 (cc) “Non-Employee
Director” means a member of the Board who is not an employee of any member of the Company Group. 
 (dd)
“Nonqualified Stock Option” means an Option which is not designated by the Committee as an Incentive Stock Option. 

(ee) “Option” means an Award granted under Section 7 of the Plan. 

(ff) “Option Period” has the meaning given to such term in Section 7(c) of the Plan. 

(gg) “Other Cash-Based Award” means an Award that is granted under Section 10 of the Plan that is denominated
and/or payable in cash. 
 (hh) “Other Equity-Based Award” means an Award that is not an Option, Stock Appreciation
Right, Restricted Stock, or Restricted Stock Unit that is granted under Section 10 of the Plan and is (i) payable by delivery of Common Stock and/or (ii) measured by reference to the value of Common Stock. 

(ii) “Participant” means an Eligible Person who has been selected by the Committee to participate in the Plan and to
receive an Award pursuant to the Plan. 
 (jj) “Performance Conditions” means specific levels of performance of the
Company (and/or one or more members of the Company Group, divisions or operational and/or business units, product lines, brands, business segments, administrative departments, or any combination of the foregoing), which may be determined in
accordance with GAAP or on a non-GAAP basis on the following measures: (i) net earnings, net income (before or after taxes), or consolidated net income; (ii) basic or diluted earnings per share
(before or after taxes); (iii) net revenue or net revenue growth; (iv) gross revenue or gross revenue growth, gross profit or gross profit growth; (v) net operating profit (before or after taxes); (vi) return measures (including,
but not limited to, return on investment, assets, capital, employed capital, invested capital, equity, or sales); (vii) cash flow measures (including, but not limited to, operating cash flow, free cash flow, or cash flow return on capital),
which may be, but are not required to be, measured on a per share basis; (viii) actual or adjusted earnings before or after interest, taxes, depreciation, and/or amortization (including EBIT and EBITDA); (ix) gross or net operating
margins; (x) productivity ratios; (xi) share price (including, but not limited to, growth measures 

  
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and total stockholder return); (xii) expense targets or cost reduction goals, general and administrative expense savings; (xiii) operating efficiency; (xiv) objective measures of
customer/client satisfaction; (xv) working capital targets; (xvi) measures of economic value added or other ‘value creation’ metrics; (xvii) enterprise value; (xviii) sales; (xix) stockholder return;
(xx) customer/client retention; (xxi) competitive market metrics; (xxii) employee retention; (xxiii) objective measures of personal targets, goals, or completion of projects (including, but not limited to, succession and hiring
projects, completion of specific acquisitions, dispositions, reorganizations, or other corporate transactions or capital-raising transactions, expansions of specific business operations, and meeting divisional or project budgets);
(xxiv) comparisons of continuing operations to other operations; (xxv) market share; (xxvi) cost of capital, debt leverage, year-end cash position or book value; (xxvii) strategic
objectives; or (xxviii) any combination of the foregoing. Any one or more of the aforementioned Performance Conditions may be stated as a percentage of another Performance Condition, or used on an absolute or relative basis to measure the
performance of one or more members of the Company Group as a whole or any divisions or operational and/or business units, product lines, brands, business segments, or administrative departments of the Company and/or one or more members of the
Company Group or any combination thereof, as the Committee may deem appropriate, or any of the above performance criteria may be compared to the performance of a selected group of comparison companies, or a published or special index that the
Committee, in its sole discretion, deems appropriate, or as compared to various stock market indices. 
 (kk) “Permitted
Transferee” has the meaning given to such term in Section 13(b) of the Plan. 
 (ll) “Person” means
any individual, entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act). 
 (mm)
“Plan” means this Change Healthcare Inc. 2019 Omnibus Incentive Plan, as it may be amended and/or restated from time to time. 

(nn) “Qualifying Director” means a Person who is, with respect to actions intended to obtain an exemption from
Section 16(b) of the Exchange Act pursuant to Rule 16b-3 under the Exchange Act, a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act. 
 (oo) “Restricted Period” means the period of time
determined by the Committee during which an Award is subject to restrictions, including vesting conditions. 
 (pp) “Restricted
Stock” means Common Stock, subject to certain specified restrictions (which may include, without limitation, a requirement that the Participant remain continuously employed or provide continuous services for a specified period of time),
granted under Section 9 of the Plan. 
 (qq) “Restricted Stock Unit” means an unfunded and unsecured promise to
deliver shares of Common Stock, cash, other securities, or other property, subject to certain restrictions (which may include, without limitation, a requirement that the Participant remain continuously employed or provide continuous services for a
specified period of time), granted under Section 9 of the Plan. 

  
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 (rr) “SAR Period” has the meaning given to such term in
Section 8(c) of the Plan. 
 (ss) “Securities Act” means the Securities Act of 1933, as amended, and any
successor thereto. Reference in the Plan to any section of (or rule promulgated under) the Securities Act shall be deemed to include any rules, regulations, or other interpretative guidance under such section or rule, and any amendments or successor
provisions to such section, rules, regulations, or guidance. 
 (tt) “Service Recipient” means, with respect to a
Participant holding a given Award, the member of the Company Group by which the original recipient of such Award is, or following a Termination was most recently, principally employed or to which such original recipient provides, or following a
Termination was most recently providing, services, as applicable. 
 (uu) “Stock Appreciation Right” or
“SAR” means an Award granted under Section 8 of the Plan. 
 (vv) “Strike Price” has the
meaning given to such term in Section 8(b) of the Plan. 
 (ww)
“Sub-Plans” means any sub-plan to the Plan that has been adopted by the Board or the Committee for the purpose of permitting the offering of
Awards to employees of certain Designated Foreign Subsidiaries or otherwise outside the jurisdiction of the United States of America, with each such Sub-Plan designed to comply with local laws applicable to
offerings in such foreign jurisdictions. Although any Sub-Plan may be designated a separate and independent plan from the Plan in order to comply with applicable local laws, the Absolute Share Limit and the
other limits specified in Section 5(b) of the Plan shall apply in the aggregate to the Plan and any Sub-Plan adopted hereunder. 

(xx) “Subsidiary” means, with respect to any specified Person: 

(i) any corporation, association, or other business entity of which more than 50% of the total voting power of shares of such
entity’s voting securities (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) is at the time owned or controlled,
directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and 

(ii) any partnership (or any comparable foreign entity) (A) the sole general partner (or functional equivalent thereof) or
the managing general partner of which is such Person or Subsidiary of such Person or (B) the only general partners (or functional equivalents thereof) of which are that Person or one or more Subsidiaries of that Person (or any combination
thereof). 
 (yy) “Substitute Awards” has the meaning given to such term in Section 5(e) of the Plan. 

  
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 (zz) “Termination” means the termination of a Participant’s
employment or service, as applicable, with the Service Recipient for any reason (including death or Disability). 
 3. Effective Date;
Duration. The Plan shall be effective as of the Effective Date. The expiration date of the Plan, on and after which date no Awards may be granted hereunder, shall be the tenth anniversary of the Effective Date; provided, however,
that such expiration shall not affect Awards then outstanding, and the terms and conditions of the Plan shall continue to apply to such Awards. 

4. Administration.  

(a) General. The Committee shall administer the Plan. To the extent required to comply with the provisions of Rule 16b-3 promulgated under the Exchange Act (if the Board is not acting as the Committee under the Plan), it is intended that each member of the Committee shall, at the time such member takes any action with respect to
an Award under the Plan that is intended to qualify for the exemptions provided by Rule 16b-3 promulgated under the Exchange Act, be a Qualifying Director. However, the fact that a Committee member shall fail
to qualify as a Qualifying Director shall not invalidate any Award granted by the Committee that is otherwise validly granted under the Plan. 

(b) Committee Authority. Subject to the provisions of the Plan and applicable law, the Committee shall have the sole and plenary
authority, in addition to other express powers and authorizations conferred on the Committee by the Plan, to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to a Participant; (iii) determine the
number of shares of Common Stock to be covered by, or with respect to which payments, rights, or other matters are to be calculated in connection with, Awards; (iv) determine the terms and conditions of any Award; (v) determine whether, to
what extent, and under what circumstances Awards may be settled in, or exercised for, cash or shares of Common Stock, other securities, other Awards, or other property, or canceled, forfeited, or suspended and the method or methods by which Awards
may be settled, exercised, canceled, forfeited, or suspended; (vi) determine whether, to what extent, and under what circumstances the delivery of cash, shares of Common Stock, other securities, other Awards, or other property and other amounts
payable with respect to an Award shall be deferred either automatically or at the election of the Participant or of the Committee; (vii) interpret, administer, reconcile any inconsistency in, correct any defect in, and/or supply any omission in
the Plan and any instrument or agreement relating to, or Award granted under, the Plan; (viii) establish, amend, suspend, or waive any rules and regulations and appoint such agents as the Committee shall deem appropriate for the proper
administration of the Plan; (ix) adopt Sub-Plans; and (x) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan.

 (c) Delegation. Except to the extent prohibited by applicable law or the applicable rules and regulations of any securities
exchange or inter-dealer quotation system on which the securities of the Company are listed or traded, the Committee may allocate all or any portion of its responsibilities and powers to any one or more of its members and may delegate all or any
part of its responsibilities and powers to any Person or Persons selected by it. Any such allocation or delegation may be revoked by the Committee at any time. Without limiting the 

  
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generality of the foregoing, the Committee may delegate to one or more officers of any member of the Company Group the authority to act on behalf of the Committee with respect to any matter,
right, obligation, or election which is the responsibility of, or which is allocated to, the Committee herein, and which may be so delegated as a matter of law, except for grants of Awards to Non-Employee
Directors. Notwithstanding the foregoing in this Section 4(c), it is intended that any action under the Plan intended to qualify for an exemption provided by Rule 16b-3 promulgated under the Exchange
Act related to Persons who are subject to Section 16 of the Exchange Act will be taken only by the Board or by a committee or subcommittee of two or more Qualifying Directors. However, the fact that any member of such committee or subcommittee
shall fail to qualify as a Qualifying Director shall not invalidate any action that is otherwise valid under the Plan. 
 (d) Finality of
Decisions. Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other decisions under or with respect to the Plan, any Award or any Award Agreement shall be within the sole discretion of the
Committee, may be made at any time, and shall be final, conclusive, and binding upon all Persons, including, without limitation, any member of the Company Group, any Participant, any holder or beneficiary of any Award, and any stockholder of the
Company. 
 (e) Indemnification. No member of the Board, the Committee, or any employee or agent of any member of the Company Group
(each such Person, an “Indemnifiable Person”) shall be liable for any action taken or omitted to be taken or any determination made with respect to the Plan or any Award hereunder (unless constituting fraud or a willful
criminal act or omission). Each Indemnifiable Person shall be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense (including attorneys’ fees) that may be imposed upon or incurred by such
Indemnifiable Person in connection with or resulting from any action, suit, or proceeding to which such Indemnifiable Person may be a party or in which such Indemnifiable Person may be involved by reason of any action taken or omitted to be taken or
determination made with respect to the Plan or any Award hereunder and against and from any and all amounts paid by such Indemnifiable Person with the Company’s approval, in settlement thereof, or paid by such Indemnifiable Person in
satisfaction of any judgment in any such action, suit, or proceeding against such Indemnifiable Person, and the Company shall advance to such Indemnifiable Person any such expenses promptly upon written request (which request shall include an
undertaking by the Indemnifiable Person to repay the amount of such advance if it shall ultimately be determined, as provided below, that the Indemnifiable Person is not entitled to be indemnified); provided, that the Company shall have the
right, at its own expense, to assume and defend any such action, suit, or proceeding and once the Company gives notice of its intent to assume the defense, the Company shall have sole control over such defense with counsel of the Company’s
choice. The foregoing right of indemnification shall not be available to an Indemnifiable Person to the extent that a final judgment or other final adjudication (in either case not subject to further appeal) binding upon such Indemnifiable Person
determines that the acts, omissions, or determinations of such Indemnifiable Person giving rise to the indemnification claim resulted from such Indemnifiable Person’s fraud or willful criminal act or omission or that such right of
indemnification is otherwise prohibited by law or by the organizational documents of any member of the Company Group. The foregoing right of indemnification shall not be exclusive of or otherwise supersede any other rights of indemnification to
which such Indemnifiable Persons may be entitled under the organizational documents of any member of the Company Group, as a matter of law, under an individual indemnification agreement or contract, or otherwise, or any other power that the Company
may have to indemnify such Indemnifiable Persons or hold such Indemnifiable Persons harmless. 

  
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 (f) Board Authority. Notwithstanding anything to the contrary contained in the Plan,
the Board may, in its sole discretion, at any time and from time to time, grant Awards and administer the Plan with respect to such Awards. Any such actions by the Board shall be subject to the applicable rules of the securities exchange or
inter-dealer quotation system on which the Common Stock is listed or quoted. In any such case, the Board shall have all the authority granted to the Committee under the Plan. 

5. Grant of Awards; Shares Subject to the Plan; Limitations.  

(a) Grants. The Committee may, from time to time, grant Awards to one or more Eligible Persons. All Awards granted under the Plan shall
vest and become exercisable in such manner and on such date or dates or upon such event or events as determined by the Committee, including, without limitation, attainment of Performance Conditions. 

(b) Share Reserve and Limits. Awards granted under the Plan shall be subject to the following limitations: (i) subject to
Section 11 of the Plan, no more than                  shares of Common Stock (the “Absolute Share Limit”) shall be available for Awards
under the Plan; provided, however, that the Absolute Share Limit shall be automatically increased on the first day of each fiscal year following the fiscal year in which the Effective Date falls in an amount equal to the least of (x)
                 shares of Common Stock, (y)                 % of the total number of
shares of Common Stock outstanding on the last day of the immediately preceding fiscal year (assuming that all Units held by MCK Members had been exchanged for an equal number of shares of Common Stock), and (z) a lower number of shares of
Common Stock as determined by the Board; (ii) subject to Section 11 of the Plan, no more than the number of shares of Common Stock equal to the Absolute Share Limit may be issued in the aggregate pursuant to the exercise of Incentive Stock
Options granted under the Plan; and (iii) during a single fiscal year, each Non-Employee Director, shall be granted a number of shares of Common Stock subject to Awards, taken together with any cash fees
paid to such Non-Employee Director during such fiscal year, equal to (A) a total value of $                 (calculating the
value of any such Awards based on the grant date fair value of such Awards for financial reporting purposes) or (B) such lower amount as determined by the Board prior to the Date of Grant, either as part of the Company’s Non-Employee Director compensation program or as otherwise determined by the Board in the event of any change to such Non-Employee Director’s compensation program or for
any particular period of service. To the extent the Board makes a determination pursuant to clause (iii)(B) above with respect to any year of service, such determination shall in no event be applicable to any subsequent year of service without a
further determination by the Board in respect of any subsequent year of service. 
 (c) Share Counting. Other than with respect to
Substitute Awards, to the extent that an Award expires or is canceled, forfeited, terminated, settled in cash, or otherwise is settled without issuance to the Participant of the full number of shares of Common Stock to which the Award related, the
unissued shares of Common Stock will again be available for grant under the Plan. Shares of Common Stock withheld in payment of the Exercise Price, or taxes relating to an Award, and shares equal to the number of shares surrendered in payment of any
Exercise 

  
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Price, or taxes relating to an Award, shall be deemed to constitute shares not issued to the Participant and shall be deemed to again be available for Awards under the Plan; provided,
however, that such shares shall not become available for issuance hereunder if either: (i) the applicable shares are withheld or surrendered following the termination of the Plan; or (ii) at the time the applicable shares are
withheld or surrendered, it would constitute a material revision of the Plan subject to stockholder approval under any then-applicable rules of the national securities exchange on which the Common Stock is listed. 

(d) Source of Shares. Shares of Common Stock issued by the Company in settlement of Awards may be authorized and unissued shares, shares
of Common Stock held in the treasury of the Company, shares of Common Stock purchased on the open market or by private purchase, or a combination of the foregoing. 

(e) Substitute Awards. Awards may, in the sole discretion of the Committee, be granted under the Plan in assumption of, or in
substitution for, outstanding Awards previously granted by an entity directly or indirectly acquired by the Company or with which the Company combines (“Substitute Awards”). Substitute Awards shall not be counted against the
Absolute Share Limit; provided, that Substitute Awards issued in connection with the assumption of, or in substitution for, outstanding Options intended to qualify as “incentive stock options” within the meaning of Section 422
of the Code shall be counted against the aggregate number of shares of Common Stock available for Awards of Incentive Stock Options under the Plan. Subject to applicable stock exchange requirements, available shares of Common Stock under a
stockholder-approved plan of an entity directly or indirectly acquired by the Company or with which the Company combines (as appropriately adjusted to reflect the acquisition or combination transaction) may be used for Awards under the Plan and
shall not reduce the number of shares of Common Stock available for issuance under the Plan. 
 6. Eligibility. Participation
in the Plan shall be limited to Eligible Persons. 
 7. Options. 

(a) General. Each Option granted under the Plan shall be evidenced by an Award Agreement, which agreement need not be the same for each
Participant. Each Option so granted shall be subject to the conditions set forth in this Section 7, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. All Options granted under the
Plan shall be Nonqualified Stock Options unless the applicable Award Agreement expressly states that the Option is intended to be an Incentive Stock Option. Incentive Stock Options shall be granted only to Eligible Persons who are employees of a
member of the Company Group, and no Incentive Stock Option shall be granted to any Eligible Person who is ineligible to receive an Incentive Stock Option under the Code. No Option shall be treated as an Incentive Stock Option unless the Plan has
been approved by the stockholders of the Company in a manner intended to comply with the stockholder approval requirements of Section 422(b)(1) of the Code; provided, that any Option intended to be an Incentive Stock Option shall not
fail to be effective solely on account of a failure to obtain such approval, but rather such Option shall be treated as a Nonqualified Stock Option unless and until such approval is obtained. In the case of an Incentive Stock Option, the terms and
conditions of such grant shall be subject to, and comply with, such rules as may be prescribed by Section 422 of the Code. If for any reason an Option intended to be an Incentive Stock Option (or any portion thereof) shall not qualify as an
Incentive Stock Option, then, to the extent of such nonqualification, such Option or portion thereof shall be regarded as a Nonqualified Stock Option appropriately granted under the Plan. 

  
 11 

 (b) Exercise Price. Except as otherwise provided by the Committee in the case of
Substitute Awards, the exercise price (“Exercise Price”) per share of Common Stock for each Option shall not be less than 100% of the Fair Market Value of such share (determined as of the Date of Grant); provided,
however, that in the case of an Incentive Stock Option granted to an employee who, at the time of the grant of such Option, owns stock representing more than 10% of the voting power of all classes of stock of any member of the Company Group,
the Exercise Price per share shall be no less than 110% of the Fair Market Value per share on the Date of Grant. 
 (c) Vesting and
Expiration; Termination. 
 (i) Options shall vest and become exercisable in such manner and on such date or dates or
upon such event or events as determined by the Committee including, without limitation, those set forth in Section 5(a) of the Plan; provided, however, that notwithstanding any such vesting dates or events, the Committee may in
its sole discretion accelerate the vesting of any Options at any time and for any reason. Options shall expire upon a date determined by the Committee, not to exceed ten years from the Date of Grant (the “Option Period”);
provided, that if the Option Period (other than in the case of an Incentive Stock Option) would expire at a time when trading in the shares of Common Stock is prohibited by the Company’s insider trading policy (or Company-imposed
“blackout period”), then the Option Period shall be automatically extended until the 30th day following the expiration of such prohibition. Notwithstanding the foregoing, in no event
shall the Option Period exceed five years from the Date of Grant in the case of an Incentive Stock Option granted to a Participant who on the Date of Grant owns stock representing more than 10% of the voting power of all classes of stock of any
member of the Company Group. 
 (ii) Unless otherwise provided by the Committee, whether in an Award Agreement or otherwise,
in the event of: (A) a Participant’s Termination by the Service Recipient for Cause, all outstanding Options granted to such Participant shall immediately terminate and expire; (B) a Participant’s Termination due to death or
Disability, each outstanding unvested Option granted to such Participant shall immediately terminate and expire, and each outstanding vested Option shall remain exercisable for one year thereafter (but in no event beyond the expiration of the Option
Period); and (C) a Participant’s Termination for any other reason, each outstanding unvested Option granted to such Participant shall immediately terminate and expire, and each outstanding vested Option shall remain exercisable for 90 days
thereafter (but in no event beyond the expiration of the Option Period). 

  
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 (d) Method of Exercise and Form of Payment. No shares of Common Stock shall be issued
pursuant to any exercise of an Option until payment in full of the Exercise Price therefor is received by the Company and the Participant has paid to the Company an amount equal to any Federal, state, local, and
non-U.S. income, employment, and any other applicable taxes required to be withheld. Options which have become exercisable may be exercised by delivery of written or electronic notice of exercise to the
Company (or telephonic instructions to the extent provided by the Committee) in accordance with the terms of the Option accompanied by payment of the Exercise Price. The Exercise Price shall be payable: (i) in cash, check, cash equivalent,
and/or shares of Common Stock valued at the Fair Market Value at the time the Option is exercised (including, pursuant to procedures approved by the Committee, by means of attestation of ownership of a sufficient number of shares of Common Stock in
lieu of actual issuance of such shares to the Company); provided, that such shares of Common Stock are not subject to any pledge or other security interest and have been held by the Participant for at least six months (or such other period as
established from time to time by the Committee in order to avoid adverse accounting treatment applying generally accepted accounting principles (“GAAP”)); or (ii) by such other method as the Committee may permit in its
sole discretion, including, without limitation (A) in other property having a fair market value on the date of exercise equal to the Exercise Price; (B) if there is a public market for the shares of Common Stock at such time, by means of a
broker-assisted “cashless exercise” pursuant to which the Company is delivered (including telephonically to the extent permitted by the Committee) a copy of irrevocable instructions to a stockbroker to sell the shares of Common Stock
otherwise issuable upon the exercise of the Option and to deliver promptly to the Company an amount equal to the Exercise Price; or (C) a “net exercise” procedure effected by withholding the minimum number of shares of Common Stock
otherwise issuable in respect of an Option that is needed to pay the Exercise Price. Any fractional shares of Common Stock shall be settled in cash. 

(e) Notification upon Disqualifying Disposition of an Incentive Stock Option. Each Participant awarded an Incentive Stock Option under
the Plan shall notify the Company in writing immediately after the date the Participant makes a disqualifying disposition of any share of Common Stock acquired pursuant to the exercise of such Incentive Stock Option. A disqualifying disposition is
any disposition (including, without limitation, any sale) of such share of Common Stock before the later of (i) the date that is two years after the Date of Grant of the Incentive Stock Option, or (ii) the date that is one year after the
date of exercise of the Incentive Stock Option. The Company may, if determined by the Committee and in accordance with procedures established by the Committee, retain possession, as agent for the applicable Participant, of any share of Common Stock
acquired pursuant to the exercise of an Incentive Stock Option until the end of the period described in the preceding sentence, subject to complying with any instructions from such Participant as to the sale of such share of Common Stock. 

(f) Compliance With Laws, etc. Notwithstanding the foregoing, in no event shall a Participant be permitted to exercise an Option in a
manner which the Committee determines would violate the Sarbanes-Oxley Act of 2002, as it may be amended from time to time, or any other applicable law or the applicable rules and regulations of the Securities and Exchange Commission or the
applicable rules and regulations of any securities exchange or inter-dealer quotation system on which the securities of the Company are listed or traded. 

  
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 8. Stock Appreciation Rights. 

(a) General. Each SAR granted under the Plan shall be evidenced by an Award Agreement. Each SAR so granted shall be subject to the
conditions set forth in this Section 8, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. Any Option granted under the Plan may include tandem SARs. The Committee also may award
SARs to Eligible Persons independent of any Option. 
 (b) Strike Price. Except as otherwise provided by the Committee in the case of
Substitute Awards, the strike price (“Strike Price”) per share of Common Stock for each SAR shall not be less than 100% of the Fair Market Value of such share (determined as of the Date of Grant). Notwithstanding the
foregoing, a SAR granted in tandem with (or in substitution for) an Option previously granted shall have a Strike Price equal to the Exercise Price of the corresponding Option. 

(c) Vesting and Expiration; Termination. 

(i) A SAR granted in connection with an Option shall become exercisable and shall expire according to the same vesting schedule
and expiration provisions as the corresponding Option. A SAR granted independent of an Option shall vest and become exercisable in such manner and on such date or dates or upon such event or events as determined by the Committee including, without
limitation, those set forth in Section 5(a) of the Plan; provided, however, that notwithstanding any such vesting dates or events, the Committee may, in its sole discretion, accelerate the vesting of any SAR at any time and for
any reason. SARs shall expire upon a date determined by the Committee, not to exceed ten years from the Date of Grant (the “SAR Period”); provided, that if the SAR Period would expire at a time when trading in the
shares of Common Stock is prohibited by the Company’s insider trading policy (or Company-imposed “blackout period”), then the SAR Period shall be automatically extended until the 30th day following the expiration of such prohibition. 
 (ii) Unless otherwise
provided by the Committee, whether in an Award Agreement or otherwise, in the event of: (A) a Participant’s Termination by the Service Recipient for Cause, all outstanding SARs granted to such Participant shall immediately terminate and
expire; (B) a Participant’s Termination due to death or Disability, each outstanding unvested SAR granted to such Participant shall immediately terminate and expire, and each outstanding vested SAR shall remain exercisable for one year
thereafter (but in no event beyond the expiration of the SAR Period); and (C) a Participant’s Termination for any other reason, each outstanding unvested SAR granted to such Participant shall immediately terminate and expire, and each
outstanding vested SAR shall remain exercisable for 90 days thereafter (but in no event beyond the expiration of the SAR Period). 
 (d)
Method of Exercise. SARs which have become exercisable may be exercised by delivery of written or electronic notice of exercise to the Company in accordance with the terms of the Award, specifying the number of SARs to be exercised and the
date on which such SARs were awarded. 

  
 14 

 (e) Payment. Upon the exercise of a SAR, the Company shall pay to the Participant an
amount equal to the number of shares subject to the SAR that is being exercised multiplied by the excess of the Fair Market Value of one share of Common Stock on the exercise date over the Strike Price, less an amount equal to any Federal, state,
local, and non-U.S. income, employment, and any other applicable taxes required to be withheld. The Company shall pay such amount in cash, in shares of Common Stock valued at Fair Market Value, or any
combination thereof, as determined by the Committee. Any fractional shares of Common Stock shall be settled in cash. 
 9.
Restricted Stock and Restricted Stock Units. 
 (a) General. Each grant of Restricted Stock and Restricted Stock Units
shall be evidenced by an Award Agreement. Each Restricted Stock and Restricted Stock Unit so granted shall be subject to the conditions set forth in this Section 9, and to such other conditions not inconsistent with the Plan as may be reflected
in the applicable Award Agreement. 
 (b) Stock Certificates and Book-Entry Notation; Escrow or Similar Arrangement. Upon the grant of
Restricted Stock, the Committee shall cause a stock certificate registered in the name of the Participant to be issued or shall cause share(s) of Common Stock to be registered in the name of the Participant and held in book-entry form subject to the
Company’s directions and, if the Committee determines that the Restricted Stock shall be held by the Company or in escrow rather than issued to the Participant pending the release of the applicable restrictions, the Committee may require the
Participant to additionally execute and deliver to the Company (i) an escrow agreement satisfactory to the Committee, if applicable, and (ii) the appropriate stock power (endorsed in blank) with respect to the Restricted Stock covered by
such agreement. If a Participant shall fail to execute and deliver (in a manner permitted under Section 13(a) of the Plan or as otherwise determined by the Committee) an agreement evidencing an Award of Restricted Stock and, if applicable, an
escrow agreement and blank stock power within the amount of time specified by the Committee, the Award shall be null and void. Subject to the restrictions set forth in this Section 9 and the applicable Award Agreement, a Participant generally
shall have the rights and privileges of a stockholder as to shares of Restricted Stock, including, without limitation, the right to vote such Restricted Stock. To the extent shares of Restricted Stock are forfeited, any stock certificates issued to
the Participant evidencing such shares shall be returned to the Company, and all rights of the Participant to such shares and as a stockholder with respect thereto shall terminate without further obligation on the part of the Company. A Participant
shall have no rights or privileges as a stockholder as to Restricted Stock Units. 
 (c) Vesting; Termination. 

(i) Restricted Stock and Restricted Stock Units shall vest, and any applicable Restricted Period shall lapse, in such manner
and on such date or dates or upon such event or events as determined by the Committee including, without limitation, those set forth in Section 5(a) of the Plan; provided, however, that notwithstanding any such dates or events,
the Committee may, in its sole discretion, accelerate the vesting of any Restricted Stock or Restricted Stock Unit or the lapsing of any applicable Restricted Period at any time and for any reason. 

  
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 (ii) Unless otherwise provided by the Committee, whether in an Award
Agreement or otherwise, in the event of a Participant’s Termination for any reason prior to the time that such Participant’s Restricted Stock or Restricted Stock Units, as applicable, have vested, (A) all vesting with respect to such
Participant’s Restricted Stock or Restricted Stock Units, as applicable, shall cease and (B) unvested shares of Restricted Stock and unvested Restricted Stock Units, as applicable, shall be forfeited to the Company by the Participant for
no consideration as of the date of such Termination. 
 (d) Issuance of Restricted Stock and Settlement of Restricted Stock Units.

 (i) Upon the expiration of the Restricted Period with respect to any shares of Restricted Stock, the restrictions set
forth in the applicable Award Agreement shall be of no further force or effect with respect to such shares, except as set forth in the applicable Award Agreement. If an escrow arrangement is used, upon such expiration the Company shall issue to the
Participant or the Participant’s beneficiary, without charge, the stock certificate (or, if applicable, a notice evidencing a book-entry notation) evidencing the shares of Restricted Stock which have not then been forfeited and with respect to
which the Restricted Period has expired (rounded down to the nearest full share). 
 (ii) Unless otherwise provided by the
Committee in an Award Agreement or otherwise, upon the expiration of the Restricted Period with respect to any outstanding Restricted Stock Units, the Company shall issue to the Participant or the Participant’s beneficiary, without charge, one
share of Common Stock (or other securities or other property, as applicable) for each such outstanding Restricted Stock Unit; provided, however, that the Committee may, in its sole discretion, elect to (A) pay cash or part cash
and part shares of Common Stock in lieu of issuing only shares of Common Stock in respect of such Restricted Stock Units or (B) defer the issuance of shares of Common Stock (or cash or part cash and part shares of Common Stock, as the case may
be) beyond the expiration of the Restricted Period if such extension would not cause adverse tax consequences under Section 409A of the Code. If a cash payment is made in lieu of issuing shares of Common Stock in respect of such Restricted
Stock Units, the amount of such payment shall be equal to the Fair Market Value per share of the Common Stock as of the date on which the Restricted Period lapsed with respect to such Restricted Stock Units. 

(e) Legends on Restricted Stock. Each certificate, if any, or book entry representing Restricted Stock awarded under the Plan, if any,
shall bear a legend or book-entry notation substantially in the form of the following, in addition to any other information the Company deems appropriate, until the lapse of all restrictions with respect to such shares of Common Stock: 

TRANSFER OF THIS CERTIFICATE AND THE SHARES REPRESENTED HEREBY IS RESTRICTED PURSUANT TO THE TERMS OF THE CHANGE HEALTHCARE INC. 2019 OMNIBUS
INCENTIVE PLAN AND A RESTRICTED STOCK AWARD AGREEMENT BETWEEN CHANGE HEALTHCARE INC. AND THE PARTICIPANT. A COPY OF SUCH PLAN AND AWARD AGREEMENT IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF CHANGE HEALTHCARE INC. 

  
 16 

 10. Other Equity-Based Awards and Other Cash-Based Awards. The Committee may grant
Other Equity-Based Awards and Other Cash-Based Awards under the Plan to Eligible Persons, alone or in tandem with other Awards, in such amounts and dependent on such conditions as the Committee shall from time to time in its sole discretion
determine including, without limitation, those set forth in Section 5(a) of the Plan. Each Other Equity-Based Award granted under the Plan shall be evidenced by an Award Agreement and each Other Cash-Based Award granted under the Plan shall be
evidenced in such form as the Committee may determine from time to time. Each Other Equity-Based Award or Other Cash-Based Award, as applicable, so granted shall be subject to such conditions not inconsistent with the Plan as may be reflected in the
applicable Award Agreement or other form evidencing such Award, including, without limitation, those set forth in Section 13(c) of the Plan. 

11. Changes in Capital Structure and Similar Events. Notwithstanding any other provision in this Plan to the contrary, the
following provisions shall apply to all Awards granted hereunder (other than Other Cash-Based Awards): 
 (a) General. In the event of
(i) any dividend (other than regular cash dividends) or other distribution (whether in the form of cash, shares of Common Stock, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger,
consolidation, split-up, split-off, spin-off, combination, repurchase, or exchange of shares of Common Stock or other securities
of the Company, issuance of warrants or other rights to acquire shares of Common Stock or other securities of the Company, or other similar corporate transaction or event that affects the shares of Common Stock (including a Change in Control), or
(ii) unusual or nonrecurring events affecting the Company, including changes in applicable rules, rulings, regulations, or other requirements, that the Committee determines, in its sole discretion, could result in substantial dilution or
enlargement of the rights intended to be granted to, or available for, Participants (any event in (i) or (ii), an “Adjustment Event”), the Committee shall, in respect of any such Adjustment Event, make such proportionate
substitution or adjustment, if any, as it deems equitable, to any or all of: (A) the Absolute Share Limit, or any other limit applicable under the Plan with respect to the number of Awards which may be granted hereunder; (B) the number of
shares of Common Stock or other securities of the Company (or number and kind of other securities or other property) which may be issued in respect of Awards or with respect to which Awards may be granted under the Plan or any Sub-Plan; and (C) the terms of any outstanding Award, including, without limitation, (I) the number of shares of Common Stock or other securities of the Company (or number and kind of other securities or
other property) subject to outstanding Awards or to which outstanding Awards relate; (II) the Exercise Price or Strike Price with respect to any Award; or (III) any applicable performance measures; provided, that in the case of any
“equity restructuring” (within the meaning of the Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor pronouncement thereto)), the Committee shall make an equitable or proportionate adjustment
to outstanding Awards to reflect such equity restructuring. Any adjustment under this Section 11 shall be conclusive and binding for all purposes. 

  
 17 

 (b) Adjustment Events. Without limiting the foregoing, except as may otherwise be
provided in an Award Agreement, in connection with any Adjustment Event, the Committee may, in its sole discretion, provide for any one or more of the following: 

(i) substitution or assumption of Awards (or awards of an acquiring company), acceleration of the exercisability of, lapse of
restrictions on, or termination of Awards, or a period of time (which shall not be required to be more than ten days) for Participants to exercise outstanding Awards prior to the occurrence of such event (and any such Award not so exercised shall
terminate upon the occurrence of such event); and 
 (ii) subject to any limitations or reductions as may be necessary to
comply with Section 409A of the Code, cancellation of any one or more outstanding Awards and payment to the holders of such Awards that are vested as of such cancellation (including, without limitation, any Awards that would vest as a result of
the occurrence of such event but for such cancellation or for which vesting is accelerated by the Committee in connection with such event) the value of such Awards, if any, as determined by the Committee (which value, if applicable, may be based
upon the price per share of Common Stock received or to be received by other stockholders of the Company in such event), including, without limitation, in the case of an outstanding Option or SAR, a cash payment in an amount equal to the excess, if
any, of the Fair Market Value (as of a date specified by the Committee) of the shares of Common Stock subject to such Option or SAR over the aggregate Exercise Price or Strike Price of such Option or SAR (it being understood that, in such event, any
Option or SAR having a per share Exercise Price or Strike Price equal to, or in excess of, the Fair Market Value of a share of Common Stock subject thereto may be canceled and terminated without any payment or consideration therefor), or, in the
case of Restricted Stock, Restricted Stock Units, or Other Equity-Based Awards that are not vested as of such cancellation, a cash payment or equity subject to deferred vesting and delivery consistent with the
vesting restrictions applicable to such Restricted Stock, Restricted Stock Units, or Other Equity-Based Awards prior to cancellation, or the underlying shares in respect thereof. 

Payments to holders pursuant to clause (ii) above shall be made in cash or, in the sole discretion of the Committee, in the form of such other
consideration necessary for a Participant to receive property, cash, or securities (or combination thereof) as such Participant would have been entitled to receive upon the occurrence of the transaction if the Participant had been, immediately prior
to such transaction, the holder of the number of shares of Common Stock covered by the Award at such time (less any applicable Exercise Price or Strike Price). 

(c) Other Requirements. Prior to any payment or adjustment contemplated under this Section 11, the Committee may require a
Participant to (i) represent and warrant as to the unencumbered title to the Participant’s Awards; (ii) bear such Participant’s pro rata share of any post-closing indemnity obligations, and be subject to the same post-closing
purchase price adjustments, escrow terms, offset rights, holdback terms, and similar conditions as the other holders of Common Stock, subject to any limitations or reductions as may be necessary to comply with Section 409A of the Code; and
(iii) deliver customary transfer documentation as reasonably determined by the Committee. 

  
 18 

 (d) Fractional Shares. Any adjustment provided under this Section 11 may
provide for the elimination of any fractional share that might otherwise become subject to an Award. 
 (e) Binding Effect. Any
adjustment, substitution, determination of value or other action taken by the Committee under this Section 11 shall be conclusive and binding for all purposes. 

12. Amendments and Termination.  

(a) Amendment and Termination of the Plan. The Board may amend, alter, suspend, discontinue, or terminate the Plan or any portion
thereof at any time; provided, that no such amendment, alteration, suspension, discontinuance, or termination shall be made without stockholder approval if: (i) such approval is necessary to comply with any regulatory requirement
applicable to the Plan (including, without limitation, as necessary to comply with any rules or regulations of any securities exchange or inter-dealer quotation system on which the securities of the Company may be listed or quoted) or for changes in
GAAP to new accounting standards; (ii) it would materially increase the number of securities which may be issued under the Plan (except for increases pursuant to Section 5 or 11 of the Plan), or (iii) it would materially modify the
requirements for participation in the Plan; provided, further, that any such amendment, alteration, suspension, discontinuance, or termination that would materially and adversely affect the rights of any Participant or any holder or
beneficiary of any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant, holder, or beneficiary. Notwithstanding the foregoing, no amendment shall be made to the last proviso of
Section 12(b) of the Plan without stockholder approval. 
 (b) Amendment of Award Agreements. The Committee may, to the extent
consistent with the terms of the Plan and any applicable Award Agreement, waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel, or terminate, any Award theretofore granted or the associated Award
Agreement, prospectively or retroactively (including after a Participant’s Termination); provided, that, other than pursuant to Section 11, any such waiver, amendment, alteration, suspension, discontinuance, cancellation, or
termination that would materially and adversely affect the rights of any Participant with respect to any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant; provided,
further, that without stockholder approval, except as otherwise permitted under Section 11 of the Plan, (i) no amendment or modification may reduce the Exercise Price of any Option or the Strike Price of any SAR; (ii) the
Committee may not cancel any outstanding Option or SAR and replace it with a new Option or SAR (with a lower Exercise Price or Strike Price, as the case may be) or other Award or cash payment that is greater than the intrinsic value (if any) of the
canceled Option or SAR; and (iii) the Committee may not take any other action which is considered a “repricing” for purposes of the stockholder approval rules of any securities exchange or inter-dealer quotation system on which the
securities of the Company are listed or quoted. 

  
 19 

 13. General. 

(a) Award Agreements. Each Award (other than an Other Cash-Based Award) under the Plan shall be evidenced by an Award Agreement, which
shall be delivered to the Participant to whom such Award was granted and shall specify the terms and conditions of the Award and any rules applicable thereto, including, without limitation, the effect on such Award of the death, Disability, or
Termination of a Participant, or of such other events as may be determined by the Committee. For purposes of the Plan, an Award Agreement may be in any such form (written or electronic) as determined by the Committee (including, without limitation,
a Board or Committee resolution, an employment agreement, a notice, a certificate, or a letter) evidencing the Award. The Committee need not require an Award Agreement to be signed by the Participant or a duly authorized representative of the
Company. 
 (b) Nontransferability. 

(i) Each Award shall be exercisable only by such Participant to whom such Award was granted during the Participant’s
lifetime, or, if permissible under applicable law, by the Participant’s legal guardian or representative. No Award may be assigned, alienated, pledged, attached, sold, or otherwise transferred or encumbered by a Participant (unless such
transfer is specifically required pursuant to a domestic relations order or by applicable law) other than by will or by the laws of descent and distribution and any such purported assignment, alienation, pledge, attachment, sale, transfer, or
encumbrance shall be void and unenforceable against any member of the Company Group; provided, that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer, or encumbrance. 

(ii) Notwithstanding the foregoing, the Committee may, in its sole discretion, permit Awards (other than Incentive Stock
Options) to be transferred by a Participant, without consideration, subject to such rules as the Committee may adopt consistent with any applicable Award Agreement to preserve the purposes of the Plan, to: (A) any Person who is a “family
member” of the Participant, as such term is used in the instructions to Form S-8 under the Securities Act or any successor form of registration statement promulgated by the Securities and Exchange
Commission (collectively, the “Immediate Family Members”); (B) a trust solely for the benefit of the Participant and the Participant’s Immediate Family Members; (C) a partnership or limited liability company
whose only partners or stockholders are the Participant and the Participant’s Immediate Family Members; or (D) a beneficiary to whom donations are eligible to be treated as “charitable contributions” for federal income tax
purposes (each transferee described in clauses (A), (B), (C), and (D) above is hereinafter referred to as a “Permitted Transferee”); provided, that the Participant gives the Committee advance written notice
describing the terms and conditions of the proposed transfer and the Committee notifies the Participant in writing that such a transfer would comply with the requirements of the Plan. 

(iii) The terms of any Award transferred in accordance with clause (ii) above shall apply to the Permitted Transferee and
any reference in the Plan or in any applicable Award Agreement to a Participant shall be deemed to refer to the Permitted Transferee, except that: (A) Permitted Transferees shall not be entitled to transfer any Award, other than by will or the
laws of descent and distribution; (B) Permitted Transferees shall not be entitled to exercise any transferred Option unless there shall be in effect a registration statement on an appropriate form covering the shares of Common Stock to be
acquired 

  
 20 

 
pursuant to the exercise of such Option if the Committee determines, consistent with any applicable Award Agreement, that such a registration statement is necessary or appropriate;
(C) neither the Committee nor the Company shall be required to provide any notice to a Permitted Transferee, whether or not such notice is or would otherwise have been required to be given to the Participant under the Plan or otherwise; and
(D) the consequences of a Participant’s Termination under the terms of the Plan and the applicable Award Agreement shall continue to be applied with respect to the Participant, including, without limitation, that an Option shall be
exercisable by the Permitted Transferee only to the extent, and for the periods, specified in the Plan and the applicable Award Agreement. 

(c) Dividends and Dividend Equivalents. 

(i) The Committee may, in its sole discretion, provide a Participant as part of an Award with dividends, dividend equivalents,
or similar payments in respect of Awards in respect of the number of shares of Common Stock underlying the award prior to vesting, payable in cash, shares of Common Stock, other securities, other Awards or other property, on a current or deferred
basis, on such terms and conditions as may be determined by the Committee in its sole discretion, including, without limitation, payment directly to the Participant, withholding of such amounts by the Company subject to vesting of the Award or
reinvestment in additional shares of Common Stock, Restricted Stock or other Awards. 
 (ii) Without limiting the foregoing,
unless otherwise provided in the Award Agreement, any dividend otherwise payable in respect of any share of Restricted Stock that remains subject to vesting conditions at the time of payment of such dividend shall be retained by the Company, remain
subject to the same vesting conditions as the share of Restricted Stock to which the dividend relates and shall be delivered (without interest) to the Participant within 15 days following the date on which such restrictions on such Restricted Stock
lapse (and the right to any such accumulated dividends shall be forfeited upon the forfeiture of the Restricted Stock to which such dividends relate). 

(iii) To the extent provided in an Award Agreement, the holder of outstanding Restricted Stock Units shall be entitled to be
credited with dividend equivalent payments (upon the payment by the Company of dividends on shares of Common Stock) either in cash or, in the sole discretion of the Committee, in shares of Common Stock having a Fair Market Value equal to the amount
of such dividends (and interest may, in the sole discretion of the Committee, be credited on the amount of cash dividend equivalents at a rate and subject to such terms as determined by the Committee), which accumulated dividend equivalents (and
interest thereon, if applicable) shall be payable at the same time as the underlying Restricted Stock Units are settled following the date on which the Restricted Period lapses with respect to such Restricted Stock Units, and if such Restricted
Stock Units are forfeited, the Participant shall have no right to such dividend equivalent payments (or interest thereon, if applicable). 

  
 21 

 (d) Tax Withholding. 

(i) A Participant shall be required to pay to the Company or one or more of its Subsidiaries, as applicable, an amount in cash
(by check or wire transfer) equal to the aggregate amount of any income, employment, and/or other applicable taxes that are statutorily required to be withheld in respect of an Award. Alternatively, the Company or any of its Subsidiaries may elect,
in its sole discretion, to satisfy this requirement by withholding such amount from any cash compensation or other cash amounts owing to a Participant. 

(ii) Without limiting the foregoing, the Committee may (but is not obligated to), in its sole discretion, permit or require a
Participant to satisfy all or any portion of the minimum income, employment, and/or other applicable taxes that are statutorily required to be withheld with respect to an Award by: (A) the delivery of shares of Common Stock (which are not
subject to any pledge or other security interest) that have been both held by the Participant and vested for at least six months (or such other period as established from time to time by the Committee in order to avoid adverse accounting treatment
under applicable accounting standards) having an aggregate Fair Market Value equal to such minimum statutorily required withholding liability (or portion thereof); or (B) having the Company withhold from the shares of Common Stock otherwise
issuable or deliverable to, or that would otherwise be retained by, the Participant upon the grant, exercise, vesting, or settlement of the Award, as applicable, a number of shares of Common Stock with an aggregate Fair Market Value equal to an
amount, subject to clause (iii) below, not in excess of such minimum statutorily required withholding liability (or portion thereof). 

(iii) The Committee, subject to its having considered the applicable accounting impact of any such determination, has full
discretion to allow Participants to satisfy, in whole or in part, any additional income, employment, and/or other applicable taxes payable by them with respect to an Award by electing to have the Company withhold from the shares of Common Stock
otherwise issuable or deliverable to, or that would otherwise be retained by, a Participant upon the grant, exercise, vesting, or settlement of the Award, as applicable, shares of Common Stock having an aggregate Fair Market Value that is greater
than the applicable minimum required statutory withholding liability (but such withholding may in no event be in excess of the maximum statutory withholding amount(s) in a Participant’s relevant tax jurisdictions). 

(e) Data Protection. By participating in the Plan or accepting any rights granted under it, each Participant consents to the collection
and processing of personal data relating to the Participant so that the Company and its Affiliates can fulfill their obligations and exercise their rights under the Plan and generally administer and manage the Plan. This data will include, but may
not be limited to, data about participation in the Plan and shares offered or received, purchased, or sold under the Plan from time to time and other appropriate financial and other data (such as the date on which the Awards were granted) about the
Participant and the Participant’s participation in the Plan. 

  
 22 

 (f) No Claim to Awards; No Rights to Continued Employment of Service; Waiver. No
employee of any member of the Company Group, or other Person, shall have any claim or right to be granted an Award under the Plan or, having been selected for the grant of an Award, to be selected for a grant of any other Award. There is no
obligation for uniformity of treatment of Participants or holders or beneficiaries of Awards. The terms and conditions of Awards and the Committee’s determinations and interpretations with respect thereto need not be the same with respect to
each Participant and may be made selectively among Participants, whether or not such Participants are similarly situated. Neither the Plan nor any action taken hereunder shall be construed as giving any Participant any right to be retained in the
employ or service of the Service Recipient or any other member of the Company Group, nor shall it be construed as giving any Participant any rights to continued service on the Board. The Service Recipient or any other member of the Company Group may
at any time dismiss a Participant from employment or discontinue any consulting relationship, free from any liability or any claim under the Plan, unless otherwise expressly provided in the Plan or any Award Agreement. By accepting an Award under
the Plan, a Participant shall thereby be deemed to have waived any claim to continued exercise or vesting of an Award or to damages or severance entitlement related to non-continuation of the Award beyond the
period provided under the Plan or any Award Agreement, except to the extent of any provision to the contrary in any written employment contract or other agreement between the Service Recipient and/or any member of the Company Group and the
Participant, whether any such agreement is executed before, on, or after the Date of Grant. 
 (g) International Participants. With
respect to Participants who reside or work outside of the United States of America, the Committee may, in its sole discretion, amend the terms of the Plan and create or amend Sub-Plans or amend outstanding
Awards with respect to such Participants in order to conform such terms with the requirements of local law or to obtain more favorable tax or other treatment for a Participant or any member of the Company Group. 

(h) Designation and Change of Beneficiary. Each Participant may file with the Committee a written designation of one or more Persons as
the beneficiary or beneficiaries, as applicable, who shall be entitled to receive the amounts payable with respect to an Award, if any, due under the Plan upon the Participant’s death. A Participant may, from time to time, revoke or change the
Participant’s beneficiary designation without the consent of any prior beneficiary by filing a new designation with the Committee. The last such designation received by the Committee shall be controlling; provided, however, that
no designation, or change or revocation thereof, shall be effective unless received by the Committee prior to the Participant’s death, and in no event shall it be effective as of a date prior to such receipt. If no beneficiary designation is
filed by a Participant, the beneficiary shall be deemed to be the Participant’s spouse or, if the Participant is unmarried at the time of death, the Participant’s estate. 

(i) Termination. Except as otherwise provided in an Award Agreement, unless determined otherwise by the Committee at any point following
such event: (i) neither a temporary absence from employment or service due to illness, vacation, or leave of absence (including, without limitation, a call to active duty for military service through a Reserve or National Guard unit) nor a
transfer from employment or service with one Service Recipient to employment or service with another Service Recipient (or vice-versa) shall be considered a Termination; and (ii) if a Participant undergoes a Termination, but such Participant
continues to provide services to the Company Group in a non-employee capacity, such change in status shall not be considered a Termination for purposes of the Plan. Further, unless otherwise determined

  
 23 

 
by the Committee, in the event that any Service Recipient ceases to be a member of the Company Group (by reason of sale, divestiture, spin-off, or other
similar transaction), unless a Participant’s employment or service is transferred to another entity that would constitute a Service Recipient immediately following such transaction, such Participant shall be deemed to have suffered a
Termination hereunder as of the date of the consummation of such transaction. 
 (j) No Rights as a Stockholder. Except as otherwise
specifically provided in the Plan or any Award Agreement, no Person shall be entitled to the privileges of ownership in respect of shares of Common Stock which are subject to Awards hereunder until such shares have been issued or delivered to such
Person. 
 (k) Government and Other Regulations. 

(i) The obligation of the Company to settle Awards in shares of Common Stock or other consideration shall be subject to all
applicable laws, rules, and regulations, and to such approvals by governmental agencies as may be required. Notwithstanding any terms or conditions of any Award to the contrary, the Company shall be under no obligation to offer to sell or to sell,
and shall be prohibited from offering to sell or selling, any shares of Common Stock pursuant to an Award unless such shares have been properly registered for sale pursuant to the Securities Act with the Securities and Exchange Commission or unless
the Company has received an opinion of counsel (if the Company has requested such an opinion), satisfactory to the Company, that such shares may be offered or sold without such registration pursuant to an available exemption therefrom and the terms
and conditions of such exemption have been fully complied with. The Company shall be under no obligation to register for sale under the Securities Act any of the shares of Common Stock to be offered or sold under the Plan. The Committee shall have
the authority to provide that all shares of Common Stock or other securities of any member of the Company Group issued under the Plan shall be subject to such stop-transfer orders and other restrictions as the
Committee may deem advisable under the Plan, the applicable Award Agreement, the Federal securities laws, or the rules, regulations, and other requirements of the Securities and Exchange Commission and any securities exchange or inter-dealer
quotation system on which the securities of the Company are listed or quoted, and any other applicable Federal, state, local, or non-U.S. laws, rules, regulations, and other requirements, and, without limiting
the generality of Section 9 of the Plan, the Committee may cause a legend or legends to be put on certificates representing shares of Common Stock or other securities of any member of the Company Group issued under the Plan to make appropriate
reference to such restrictions or may cause such Common Stock or other securities of any member of the Company Group issued under the Plan in book-entry form to be held subject to the Company’s instructions or subject to appropriate
stop-transfer orders. Notwithstanding any provision in the Plan to the contrary, the Committee reserves the right to add, at any time, any additional terms or provisions to any Award granted under the Plan that the Committee, in its sole discretion,
deems necessary or advisable in order that such Award complies with the legal requirements of any governmental entity to whose jurisdiction the Award is subject. 

  
 24 

 (ii) The Committee may cancel an Award or any portion thereof if it
determines, in its sole discretion, that legal or contractual restrictions and/or blockage and/or other market considerations would make the Company’s acquisition of shares of Common Stock from the public markets, the Company’s issuance of
Common Stock to the Participant, the Participant’s acquisition of Common Stock from the Company, and/or the Participant’s sale of Common Stock to the public markets, illegal, impracticable, or inadvisable. If the Committee determines to
cancel all or any portion of an Award in accordance with the foregoing, the Company shall, subject to any limitations or reductions as may be necessary to comply with Section 409A of the Code: (A) pay to the Participant an amount equal to
the excess of (I) the aggregate Fair Market Value of the shares of Common Stock subject to such Award or portion thereof canceled (determined as of the applicable exercise date, or the date that the shares would have been vested or issued, as
applicable), over (II) the aggregate Exercise Price or Strike Price (in the case of an Option or SAR, respectively) or any amount payable as a condition of issuance of shares of Common Stock (in the case of any other Award), with such amount
being delivered to the Participant as soon as practicable following the cancellation of such Award or portion thereof or (B) in the case of Restricted Stock, Restricted Stock Units, or Other Equity-Based Awards, provide the Participant with a
cash payment or equity subject to deferred vesting and delivery consistent with the vesting restrictions applicable to such Restricted Stock, Restricted Stock Units, or Other Equity-Based Awards, or the underlying shares in respect thereof. 

(l) No Section 83(b) Elections Without Consent of Company. No election under Section 83(b) of the Code or under
a similar provision of law may be made unless expressly permitted by the terms of the applicable Award Agreement or by action of the Committee (or its designee in accordance with Section 4(c) of the Plan) in writing prior to the making of such
election. If a Participant, in connection with the acquisition of shares of Common Stock under the Plan or otherwise, is expressly permitted to make such election and the Participant makes the election, the Participant shall notify the Company of
such election within ten days of filing notice of the election with the Internal Revenue Service or other governmental authority, in addition to any filing and notification required pursuant to Section 83(b) of the Code or other applicable
provision. 
 (m) Payments to Persons Other Than Participants. If the Committee shall find that any Person to whom any amount is
payable under the Plan is unable to care for the Participant’s affairs because of illness or accident, or is a minor, or has died, then any payment due to such Person or the Participant’s estate (unless a prior claim therefor has been made
by a duly appointed legal representative) may, if the Committee so directs the Company, be paid to the Participant’s spouse, child, relative, an institution maintaining or having custody of such Person, or any other Person deemed by the
Committee to be a proper recipient on behalf of such Person otherwise entitled to payment. Any such payment shall be a complete discharge of the liability of the Committee and the Company therefor. 

(n) Nonexclusivity of the Plan. Neither the adoption of the Plan by the Board nor the submission of the Plan to the stockholders of the
Company for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of
equity-based awards otherwise than under the Plan, and such arrangements may be either applicable generally or only in specific cases. 

  
 25 

 (o) No Trust or Fund Created. Neither the Plan nor any Award shall create or be
construed to create a trust or separate fund of any kind or a fiduciary relationship between any member of the Company Group, on the one hand, and a Participant or other Person, on the other hand. No provision of the Plan or any Award shall require
the Company, for the purpose of satisfying any obligations under the Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made or otherwise to segregate any assets, nor shall the Company be obligated to
maintain separate bank accounts, books, records, or other evidence of the existence of a segregated or separately maintained or administered fund for such purposes. Participants shall have no rights under the Plan other than as unsecured general
creditors of the Company, except that insofar as they may have become entitled to payment of additional compensation by performance of services, they shall have the same rights as other service providers under general law. 

(p) Reliance on Reports. Each member of the Committee and each member of the Board shall be fully justified in acting or failing to act,
as the case may be, and shall not be liable for having so acted or failed to act in good faith, in reliance upon any report made by the independent public accountant of any member of the Company Group and/or any other information furnished in
connection with the Plan by any agent of the Company or the Committee or the Board, other than himself or herself. 
 (q) Relationship to
Other Benefits. No payment under the Plan shall be taken into account in determining any benefits under any pension, retirement, profit sharing, group insurance, or other benefit plan of the Company except as otherwise specifically provided in
such other plan or as required by applicable law. 
 (r) Governing Law. The Plan shall be governed by and construed in accordance with
the internal laws of the State of Delaware applicable to contracts made and performed wholly within the State of Delaware, without giving effect to the conflict of laws’ provisions thereof. EACH PARTICIPANT WHO ACCEPTS AN AWARD IRREVOCABLY
WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY SUIT, ACTION, OR OTHER PROCEEDING INSTITUTED BY OR AGAINST SUCH PARTICIPANT IN RESPECT OF THE PARTICIPANT’S RIGHTS OR OBLIGATIONS HEREUNDER. 

(s) Severability. If any provision of the Plan or any Award or Award Agreement is or becomes or is deemed to be invalid, illegal, or
unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if
it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be construed or deemed stricken as to such jurisdiction, Person, or Award and the
remainder of the Plan and any such Award shall remain in full force and effect. 
 (t) Obligations Binding on Successors. The
obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger, consolidation, or other reorganization of the Company, or upon any successor corporation or organization succeeding
to substantially all of the assets and business of the Company. 

  
 26 

 (u) Section 409A of the Code. 

(i) Notwithstanding any provision of the Plan to the contrary, it is intended that the provisions of the Plan comply with
Section 409A of the Code, and all provisions of the Plan shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A of the Code. Each Participant is solely responsible
and liable for the satisfaction of all taxes and penalties that may be imposed on or in respect of such Participant in connection with the Plan (including any taxes and penalties under Section 409A of the Code), and neither the Service
Recipient nor any other member of the Company Group shall have any obligation to indemnify or otherwise hold such Participant (or any beneficiary) harmless from any or all of such taxes or penalties. With respect to any Award that is considered
“deferred compensation” subject to Section 409A of the Code, references in the Plan to “termination of employment” (and substantially similar phrases) shall mean “separation from service” within the meaning of
Section 409A of the Code. For purposes of Section 409A of the Code, each of the payments that may be made in respect of any Award granted under the Plan is designated as a separate payment. 

(ii) Notwithstanding anything in the Plan to the contrary, if a Participant is a “specified employee” within the
meaning of Section 409A(a)(2)(B)(i) of the Code, no payments in respect of any Awards that are “deferred compensation” subject to Section 409A of the Code and which would otherwise be payable upon the Participant’s
“separation from service” (as defined in Section 409A of the Code) shall be made to such Participant prior to the date that is six months after the date of such Participant’s “separation from service” or, if earlier,
the date of the Participant’s death. Following any applicable six-month delay, all such delayed payments will be paid in a single lump sum on the earliest date permitted under Section 409A of the
Code that is also a business day. 
 (iii) Unless otherwise provided by the Committee in an Award Agreement or otherwise, in
the event that the timing of payments in respect of any Award (that would otherwise be considered “deferred compensation” subject to Section 409A of the Code) are accelerated upon the occurrence of (A) a Change in Control, no
such acceleration shall be permitted unless the event giving rise to the Change in Control satisfies the definition of a change in the ownership or effective control of a corporation, or a change in the ownership of a substantial portion of the
assets of a corporation pursuant to Section 409A of the Code or (B) a Disability, no such acceleration shall be permitted unless the Disability also satisfies the definition of “Disability” pursuant to Section 409A of the
Code. 
 (v) Clawback/Repayment. All Awards shall be subject to reduction, cancellation, forfeiture or recoupment to the extent
necessary to comply with (i) any clawback, forfeiture or other similar policy adopted by the Board or the Committee and as in effect from time to time; and (ii) applicable law. Further, unless otherwise determined by the Committee, to the
extent that the Participant receives any amount in excess of the amount that the Participant should otherwise have received under the terms of the Award for any reason (including, without limitation, by reason of a financial restatement, mistake in
calculations or other administrative error), the Participant shall be required to repay any such excess amount to the Company. 

  
 27 

 (w) Detrimental Activity. Notwithstanding anything to the contrary contained herein,
if a Participant has engaged in any Detrimental Activity, as determined by the Committee, the Committee may, in its sole discretion, provide for one or more of the following: 

(i) cancellation of any or all of such Participant’s outstanding Awards; or 

(ii) forfeiture by the Participant of any gain realized on the vesting or exercise of Awards, and repayment of any such gain
promptly to the Company. 
 (x) Right of Offset. The Company will have the right to offset against its obligation to deliver shares of
Common Stock (or other property or cash) under the Plan or any Award Agreement any outstanding amounts (including, without limitation, travel and entertainment or advance account balances, loans, repayment obligations under any Awards, or amounts
repayable to the Company pursuant to tax equalization, housing, automobile, or other employee programs) that the Participant then owes to any member of the Company Group and any amounts the Committee otherwise deems appropriate pursuant to any tax
equalization policy or agreement. Notwithstanding the foregoing, if an Award is “deferred compensation” subject to Section 409A of the Code, the Committee will have no right to offset against its obligation to deliver shares of Common
Stock (or other property or cash) under the Plan or any Award Agreement if such offset could subject the Participant to the additional tax imposed under Section 409A of the Code in respect of an outstanding Award. 

(y) Expenses; Titles and Headings. The expenses of administering the Plan shall be borne by the Company Group. The titles and headings
of the sections in the Plan are for convenience of reference only, and in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control. 

  
 28EX-10.47

 Exhibit 10.47 

February 25, 2017 
 Rod O’Reilly 

[address] 
 Dear Rod: 

This letter agreement (the “Agreement”) summarizes and confirms the terms and conditions for your position created as a result of your present
employer, McKesson Medical Imaging Company, currently doing business as Imaging and Workflow Solutions (“IWS Canada”), becoming part of the joint venture between McKesson Corporation and Change Healthcare (the “Joint Venture”).
You acknowledge that the present terms and conditions of your employment with IWS Canada will remain in effect until closing of this transaction (the “Closing Date”), anticipated in the first quarter of 2017; at which time the terms of
this Agreement will prevail. 
 This Agreement is deemed to include all attachments, specifically; 

 

	 	(a)	 Exhibit “A” Duties, Responsibilities and Compensation; 

 

	 	(b)	 Exhibit “B” Previous inventions and/or developments; and 

 

	 	(c)	 Exhibit “C” International Assignment letter dated February 28, 2017 

For the purposes of this Agreement, the term “Company” includes your employer, IWS Canada and, where applicable, Change Healthcare Operations, LLC
and/or any of their subsidiaries, affiliates, corporate parents, successors and/or assigns. 
 You agree and acknowledge that your employment or continued
employment with the Company, your relationship with the Company, all monies, commissions, benefits, equity awards, equity grants, incentive payments, bonus and/or trade secrets, training, and access to Company Information, Customer Information, or
Third Party Information (as defined in this Agreement) and other good and valuable consideration provided to you, constitute good and sufficient consideration to support this Agreement. 

 

	1.	 Position 

  

	 	1.1	 Effective on the Closing Date you are being offered the position of EVP & President of
Software & Analytics reporting to Neil de Crescenzo, President and CEO. A description of the duties and responsibilities of your position is attached as Exhibit A. Your duties and responsibilities, as well as the job title referenced above,
may be altered at the sole discretion of the Company provided that any alteration will be consistent with the duties and responsibilities of similar positions within the Company. 

 

	2.	 Remuneration 

  

	 	2.1	 In consideration of your agreement to the terms and conditions set out in this Agreement, details of your
proposed compensation package are attached as part of Exhibit A. 

	 	2.2	 In all cases, the Company’s MIP, RSU, and Long Term Incentive (collectively referred to herein as
“Variable Compensation”) plan documents will govern the operation and interpretation of the plan(s), including any and all amendments to and/or assignments of the plan(s). The Company reserves the right to amend its Variable Compensation
plans, including participation at any time. Your participation in the Variable Compensation plans is subject to the specific terms and conditions of each plan. 

 

	 	2.3	 Your participation in the Variable Compensation plans on an ongoing basis will depend on your individual
performance and contribution to the Company’s success. 

  

	 	2.4	 You will be eligible for benefit coverage under the Company’s health and welfare insurance plans covering
all salaried employees, in accordance with the terms of such plan, as amended by the Company or the benefit provider(s) from time to time. You acknowledge that the Company provides access to the benefits only and does not warrant their provision.
The Company may change benefits and benefit providers in its absolute discretion. You confirm and agree that the benefit coverage is subject to the terms, conditions and limitations of the applicable plan and the benefit provider(s). At the time of
execution of this Agreement, and pursuant to the International Assignment Letter, subject to the limitations in this paragraph, the Company confirms that you and your dependents are covered under designated Cigna benefit plans for health insurance
and other benefits. 

  

	 	2.5	 You will be entitled to annual vacation leave as provided under the Company’s employee vacation policy as
may be amended at the sole discretion of the Company. 

  

	3.	 General Employment Matters 

 

	 	3.1	 You acknowledge that you must have a credit rating sufficient to qualify for a Company credit card.

  

	 	3.2	 As you are in a senior management position, you are not entitled to any overtime. It is expected that you will
work such hours as are necessary to get the job done, and this may require hours at nights and on weekends. You will have no set hours of work in your position but the Company expects you to work such hours as are required to ensure the timely and
efficient completion of your duties. 

  

	 	3.3	 You will be entitled to reimbursement of all reasonable business-related expenses, including business related
automobile costs at the designated rate per kilometer, subject to the Company’s approval. 

  

	4.	 Policies  

  

	 	4.1	 The Company has a number of policies and procedures that apply to employees during the course of their
employment. Most of these policies are contained on the Company’s intranet to which you have been provided access. All employees are required to follow the policies and procedures that are in effect from time to time. The Company reserves the
right to alter the policies and procedures upon reasonable notice to you. 

  
 2 

	5.	 Standards And Devotion 

 

	 	5.1	 At all times during your employment with the Company, you will devote your best efforts to the performance of
your duties and the advancement of the Company and will not engage in any other employment, profitable activities, or other pursuits, remunerative or non remunerative, which would cause any interference with the performance of your duties and
obligations under this Agreement, or which otherwise is or may be against the interests of or in competition with the Company, and/or would cause you to use or disclose Company Information, Customer Information, Third Party Information or Company
Property (as defined in this Agreement). This obligation will include, but is not limited to, obtaining the Company’s consent prior to performing tasks for Customers or Third Parties outside of customary duties for the Company, giving speeches
or writing articles about the business of the Company, or improperly using the Company’s name. 

  

	6.	 Termination of Employment 

 

	 	6.1	 The Company reserves the right to terminate your employment under this Agreement at any time for any reason.
Should your employment be terminated for cause, then you will not be entitled to any advance notice of termination or severance pay in lieu thereof. Should you be terminated for reasons other than cause then you will be entitled to all of your
accrued and unpaid vacation and advance notice of your termination, or severance pay in lieu thereof, or any combination of advance notice and severance pay, in accordance with the following: 

 

	 	6.1.1	 For the first 12 months of employment under this Agreement, subject to paragraphs 6.3 and 6.4 below, you will
be entitled to receive notice and/or a severance payment in lieu of notice consistent with IWS Canada’s current policy for termination of employment for executives of level 205 [four (4) weeks’ notice per completed year of service
plus 12 weeks to a total maximum of 52 weeks], subject only to greater notice as required by the Employment Standards Act, R.S.B.C. 1996, as amended from time to time, or other applicable Employment Standards legislation.

  

	 	6.1.2	 After the first 12 months of employment under this Agreement, subject to paragraphs 6.3 and 6.4 below, you will
be entitled to receive notice and/or a severance payment in lieu of notice in accordance with the Change Healthcare Operations, LLC policy for termination of employment for executives with a similar executive position as yours, to a total maximum of
52 weeks, subject only to greater notice as required by the Employment Standards Act, R.S.B.C. 1996, as amended from time to time, or other applicable Employment Standards legislation 

  
 3 

	 	6.1.3	 For further certainty, paragraphs 6.1.1 and 6.1.2 are not cumulative. Paragraph 6.1.1 only applies during the
first 12 months of this Agreement. Paragraph 6.1.2 applies after the first 12 months of this Agreement. 

  

	 	6.1.4	 For the purposes of this paragraph 6.1, “cause” shall include, but not be limited to, anything which
constitutes just cause for termination of employment including, without limiting the generality of the foregoing: 

  

	 	6.1.4.1	 the willful failure by you to carry your duties properly; 

 

	 	6.1.4.2	 the engaging by you in any act which is materially injurious to the Company, financially or otherwise;

  

	 	6.1.4.3	 the engaging by you in any act of dishonesty resulting or intended to result, directly or indirectly, in
personal gain to you at the Company’s expense; or 

  

	 	6.1.4.4	 any other grounds that would constitute “Cause” or “Just Cause” at law.

  

	 	6.2	 The notice provided to you upon termination of your employment with the Company can be actual working notice,
or pay in lieu thereof, or any combination of the two. 

  

	 	6.3	 Apart from any notice or amounts required to be paid pursuant to the applicable Employment Standards
legislation, the Company may pay any amounts either as a lump sum or may continue to provide you with your regular pay on regularly scheduled pay dates until such time as all amounts payable have been fully paid. The periodic payments are subject to
your duty to mitigate. 

  

	 	6.4	 Nothing in this paragraph affects your duty to mitigate, and you are expected to, and you agree that you will,
fulfill your duty to mitigate upon termination of your employment by the Company. 

  

	 	6.5	 The notice and/or payments as set out above together with any accrued and unpaid vacation, any Variable
Compensation payable pursuant to the specific terms and conditions of the specific Variable Compensation plans, and the relocation benefits set out in the International Assignment Letter shall be the only notice and/or payments required to be made
to you upon termination of your employment, without cause. 

  

	 	6.6	 The notice and payment in lieu provisions set out above are inclusive of and not in addition to any notice or
payment in lieu of notice to which you may be entitled under the applicable Employment Standards legislation. In no case shall you receive less notice or payment in lieu of notice than that to which you are entitled under the applicable Employment
Standards legislation. If you are entitled to a greater period of notice or payment in lieu of notice pursuant to the applicable Employment Standards legislation, or further payments or benefits, such notice, payment or entitlement shall be provided
and shall constitute your full entitlement under this Agreement. 

  
 4 

	 	6.7	 It is agreed that the amount of notice specified in the termination provision contained in this Agreement is
reasonable, that no other payment is required by the Company and that the notice, or alternatively, payment, satisfies all notice (including statutory and common law) and severance obligations regarding termination of employment from the Company.

  

	 	6.8	 You agree that, unless otherwise required by relevant Employment Standards legislation, all benefits provided
to you as a result of your employment with the Company will cease upon your last day of employment with the exception of repatriation pursuant to the International Assignment Letter. 

 

	 	6.9	 Upon the termination of your employment under this Agreement, you agree that the Company’s liability to
you shall be limited to all accrued and unpaid portions of your salary to the date of termination, any accrued but unused or unpaid vacation any Variable Compensation payable pursuant to the specific terms and conditions of the specific Variable
Compensation plans, and those amounts as set out in Paragraph 6.1 above. 

  

	 	6.10	 In the event that the minimum standards in the Employment Standards Act, R.S.B.C. 1996, as amended from
time to time, or other applicable Employment Standards legislation, are more favorable to you, including but not limited to the provisions herein in respect of notice of termination, minimum wage or vacation entitlement than provided for in this
Agreement, the provisions of the Employment Standards Act shall apply but this Agreement shall remain in force and shall be deemed to be amended only by such increases in the Employment Standards Act. 

 

	 	6.11	 The Company reserves the right to withdraw this offer of employment or terminate you from ongoing employment
without paying you any damages or other compensation, if the references it receives from your former employer(s) or other referrers are not satisfactory or if you have misrepresented in any way your qualifications or previous employment history.

  

	7.	 Resignation  

  

	 	7.1	 You may terminate this Agreement and your employment upon giving the Company three months written notice of
resignation of your employment. Upon the effective date of your resignation, the Company shall not be obligated to make any further payments under this Agreement. On the giving of such notice by you, or at any time thereafter, the Company shall have
the right to elect to immediately terminate your employment, and upon such election, shall provide to you: 

  

	 	7.1.1	 Payment of a lump sum equal to the base salary for the three months or for such proportion of the three months
that remain outstanding at the time of such election; 

  
 5 

	 	7.1.2	 Any Variable Compensation payable in respect of performance during the fiscal year ending prior to the date of
resignation as permitted under the terms and conditions of the applicable Variable Compensation plans; 

  

	 	7.1.3	 Any accrued and unpaid vacation pay; 

 

	 	7.1.4	 Continuance of such of the benefits as permitted to be continued by your benefits carriers, except long-term
disability insurance, for the three months or for such proportion of the three months that remain outstanding at the time of such election; and 

  

	 	7.1.5	 Subject to all necessary approvals, vesting of stock options for the three months or for such proportion of the
three months that remain outstanding at the time of such election. 

  

	8.	 Exit Interview 

 

	 	8.1	 Upon termination of this Agreement, for any reason, you will, if requested, participate in an exit interview
with the Company and reaffirm in writing your obligations in this Agreement. You will provide the Company with the name and address of your new employer, and will supplement that information as required during the term of any post-employment
restrictions. 

  

	9.	 Return of Property 

 

	 	9.1	 Upon termination of this Agreement, for any reason, you agree to deliver or cause to be delivered to the
Company all property belonging to the Company or for which the Company is liable to others, which is in either’s possession, charge, control or custody including, but not limited to, sales records, client lists, internal Company memoranda,
Company correspondence and all photocopies and electronic copies thereof. 

  

	10.	 Confidential Information 

 

	 	10.1	 Confidentiality of Company Information, Customer Information, and Third Party Information

  

	 	10.1.1	 You will not, during and after your employment with the Company, directly or indirectly, disclose to any person
or entity, or use, except for the sole benefit of the Company, any of the Company’s confidential, proprietary or trade secret information (“Company Information”) for so long as such Company Information remains proprietary or
confidential. Company Information includes any information or material learned or obtained by you as a consequence of your employment, not generally known to the public, and which (i) is generated or collected by or used in the operations of
the Company and relates to the actual or anticipated business of the Company or the Company’s actual or prospective customers and potential customers (“Customers”) or third parties,

  
 6 

	 	
including, vendors, suppliers, contractors, consultants, partners, or others with which the Company does business (“Third Parties”) or (ii) is suggested by or results from any task
assigned to you by the Company or work performed by you for or on behalf of the Company, any Customer, or any Third Party. For purposes of this Agreement, a potential Customer is one to which a presentation, proposal or other contact for the purpose
of soliciting business was made by you or any person in the reporting segment in which you work or have worked within one (1) year of your termination of employment from the Company for any reason. Company Information will not be considered
generally known to the public if revealed improperly to the public by you or others. 

  

	 	10.1.2	 For the purposes of this Agreement, without limiting the foregoing, Company Information includes, but is not
limited to, the Company’s research and development plans or projects, data and reports, computer materials such as programs, instructions, source and object code, printouts, formulas, inventions, developments and discoveries, product testing
information, data compilations, development databases, business improvements, business plans (whether pursued or not), business proposals, ideas, budgets, unpublished financial statements, licenses, pricing strategy and cost data, margins, goodwill,
legal opinions and advice, legal strategies and assessments, assessments of intellectual property, privileged information, non-personal employee information including payroll, compensation, and benefits
information, protected health information as defined in any and all applicable and relevant legislation and regulations in Canada and the United States of America (“USA”), including, but not limited to, 45 C.F.R. 164.501 and other
sensitive or legally protected information of individuals (“PHI”), including, but not limited to, employees of the Company, the identities of the Company’s Customers, the identities of contact persons of the Company’s Customers,
the particular preferences, likes, dislikes and needs of Customers and Customers’ contact persons, sales terms or service plans, strategies, forecasts, know-how, and other marketing techniques, the
identities of the Company’s Third Parties, the identities of contact persons of the Company’s Third Parties, the particular preferences, likes, dislikes and needs of Third Parties and Third Parties’ contact persons, sales terms or
service plans, strategies, forecasts, know-how, and other marketing techniques. 

  

	 	10.1.3	 During your employment you may have access to and/or receive confidential or proprietary information that the
Company has received from Customers, including, but not limited to, trade secrets, and PHI (“Customer Information”) and, confidential or proprietary information that the Company has received from Third Parties, including, but not limited
to, trade secrets, and PHI (“Third Party Information”). You understand the Company has a duty to maintain the confidentiality of all 

  
 7 

	 	
Customer Information and Third Party Information, and to use it only for certain limited purposes. As such, during and after your employment with the Company, you agree to hold all Customer
Information and Third Party Information received by you in the same confidence as you agree to hold Company Information. Accordingly, you will not, during and after your employment with the Company, directly or indirectly, disclose to any person or
entity, or use, except for the sole benefit of the Company, any such Customer Information or Third Party Information. 

  

	 	10.1.4	 The confidentiality obligations in this Agreement will not prohibit you from divulging Company Information,
Customer Information, or Third Party Information by order of a court or agency of competent jurisdiction or as required by law. You will promptly inform the Company’s legal department in writing of any such situations and will take reasonable
steps to prevent disclosure of the same until the Company has been informed of such compelled disclosure and has had a reasonable opportunity to seek a protective order. However, nothing in this Agreement shall impede or prohibit you from
communicating, cooperating or complaining to any federal, state, or local governmental or law enforcement branch, agency or entity with respect to possible violations of regulations that are protected under the whistleblower provisions of any such
law or regulation, provided that in each case such communications and disclosures are consistent with applicable law. You do not need the prior authorization of the Company regarding any such communication or disclosure. Notwithstanding the
foregoing, under no circumstance are you authorized to disclose any information covered by the Company’s attorney-client privilege or attorney work product without prior written consent from the Company and its attorneys. 

 

	 	10.1.5	 For the purposes of any duties and responsibilities you have in, or relating to the USA and wherever laws in
the USA applies to you or services that you provide to the Company, under the Defend Trade Secrets Act of 2016, you understand that an individual may not be held criminally or civilly liable under any federal or state trade secret law for the
disclosure of a trade secret that: (i) is made (a) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (b) solely for the purpose of reporting or investigating a
suspected violation of law; or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding. Further, an individual who files a lawsuit for retaliation by an employer for reporting a suspected
violation of law may disclose the employer’s trade secrets to the attorney and use the trade secret information in the court proceeding if the individual: (i) files any document containing the trade secret under seal; and (ii) does
not disclose the trade secret, except pursuant to court order. Nothing contained herein will waive, limit or affect any rights of the Company under any applicable trade secrets laws, including Defend Trade Secrets Act of 2016, which will be
enforceable separate and apart from this Agreement. 

  
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	 	10.2	 No Improper Use of Information of Prior Employers, the Company, and Others 

 

	 	10.2.1	 You will not disclose to the Company, or use in your work for the Company, any confidential information and/or
trade secrets belonging to others, including without limitation, your prior employers, or any prior inventions made by you and which the Company is not otherwise legally entitled to learn of or use. “Prior employers” includes McKesson
Corporation and all of its subsidiaries and affiliates, (collectively “McKesson”), with the exception of any entities that are transitioning to the Company. Accordingly, you agree that in the event McKesson is a former employer, you may
not use or disclose to the Company any confidential information and/or trade secrets that belong to McKesson, its Customers or Third Parties, or any of the businesses being retained by McKesson. Furthermore, you are not subject to any restrictive
covenants and/or obligations that would prevent you from fully performing your duties for the Company. The Company may contact any employer or prospective employer of yours to inform them of your obligations under this Agreement, and for five
(5) years after termination of your employment from the Company for any reason, you will provide this Agreement to all subsequent employers. You will not publish or submit for publication any article relating to Company products, development
projects or other aspects of Company business without an officer of the Company’s prior written permission. 

  

	 	10.3	 Ownership, Control, and Custody of Company Information, Customer Property, and Third Party Information

  

	 	10.3.1	 All tangible and electronic materials (whether originals or duplicates), including, but not limited to,
computer, telephone, or smart-device information and files, notebooks, reports, proposals, price lists, lists of actual or potential Customers or Third Parties, talent lists, formulae, prototypes, tools, equipment, models, specifications, technical
data, methodologies, research results, test results, financial data, contracts, agreements, correspondence, documents, computer disks, software, computer printouts, information stored electronically, memoranda, and notes in your possession or
control which relate to the Company’s business and which are furnished to you by or on behalf of the Company or which are prepared, compiled or acquired by you while working with or employed by the Company (“Company Property”) will be
the sole property of the Company. You will at any time upon the request of the Company, and no later than two (2) business days after termination of your employment with the Company, for any reason, deliver all Company Information, Customer
Information, Third Party Information, and Company Property, to the Company, and will not retain any originals 

  
 9 

	 	
or copies of the same. Except to the extent approved by the Company or required by your bona fide job duties for the Company, you will not copy or remove any Company Information, Customer
Information, Third Party Information, or Company Property from any of the Company’s places of business, any of the places of business of a Customer, or any of the places of business of a Third Party, and you will not provide the same to any
competitor of the Company unless specifically required by your bona fide job duties while employed by the Company. Further, any Company Information, Customer Information, Third Party Information, or Company Property, wherever located, including any
disk and other storage media, computer, telephone, or smart-device information and files, filing cabinets, or lockers, is subject to inspection by the Company at any time during your employment and after, with or without notice. 

 

	 	10.4	 You recognize and agree that except as otherwise provided in this Agreement, there is no expectation of privacy
on any Company equipment or for any information that is transmitted through the computer systems or other technologies of the Company. 

  

	 	10.5	 You agree that during your employment, you may acquire information regarding the health care records of
patients. You agree that this information is Confidential Information and agrees that, except as required by law, or otherwise addressed above, you shall keep such information strictly confidential. 

 

	 	10.6	 Your obligations in Sections 10.1 to 10.5 shall continue beyond your termination of employment with the
Company. 

  

	11.	 Disclosure of Discoveries, Ideas and Inventions 

 

	 	11.1	 You assign to the Company (or as the Company should direct) your entire right, title and interest in any
Company Information, or any idea, formula, invention, discovery, design, drawing, process, method, technique, device, improvement, computer program and related documentation, technical and non-technical data,
work of authorship, patent, or patent application (collectively, “Developments”), which you may solely or jointly conceive, write or acquire in whole or in part while you are working for the Company, and for six (6) months thereafter,
and which relate to the actual or anticipated business or research or development of the Company, or which are suggested by or result from any task assigned to you or work performed by you for or on behalf of the Company, whether or not such
Developments are made, conceived, written or acquired during normal hours of work or using Company facilities, and whether or not such Developments are patentable, copyrightable or susceptible to other forms of protection. The term
“Developments” does not apply to any development for which no equipment, supplies, facilities or trade secret, proprietary or Company Information of the Company was used, and which was developed entirely on your own time unless
(a) the development relates (i) to the actual or anticipated business of the Company or (ii) to the Company’s actual or demonstrably anticipated research or development, or (b) the development results from any work performed
by you for the Company. Any intellectual property right in any Developments and related documentation or works of authorship which are created within the scope of your employment with the Company are owned by the Company (or as the Company should
direct). 

  
 10 

	 	11.2	 You will promptly disclose any Developments to the Company, including following the Company’s policies and
procedures in place for that purpose, and you will, at the Company’s request, promptly execute a specific assignment of title and such other documents as may reasonably be requested by the Company for the purpose of vesting, confirming or
securing title to the Developments, and you will do anything else reasonably necessary, at the Company’s sole and reasonable expense, to enable the Company to secure a patent, copyright or other form of protection in Canada, the USA and in
other countries even after the termination of your employment with the Company. If the Company is unable, after reasonable effort, to secure your signature or other action, whether because of your physical or mental incapacity or for any other
reason, then you irrevocably designate and appoint the Company as your duly authorized agent and attorney-in-fact, to act for and on your behalf and stead to execute any
such document and take any other such action to secure the rights and title to the Developments. 

  

	 	11.3	 You have identified on Exhibit B attached to this Agreement all developments in which you have any right, title
or interest, and which were made, conceived or written wholly or in part by you prior to your relationship with the Company and which relate to the actual or anticipated business or research or development of the Company. You represent that you are
not a party to any agreements which would limit your ability to work for the Company or to assign Developments as provided for in this Agreement. You completed Exhibit B to this Agreement fully, completely, and in good faith. 

 

	 	11.4	 Your obligations in Paragraph 11.1 to 11.3 shall continue beyond your termination of employment with the
Company, for any reason, with respect to Developments authored, conceived or made by you during the entire course of your employment with the Company (or as otherwise detailed above) and shall be binding upon your assigns, executors, administrators
and other legal representatives. 

  

	12.	 Non-Competition 

 

	 	12.1	 During your employment with the Company, and for twelve (12) months thereafter, you will not, in the
Restricted Area (as defined below) within the USA and Canada, directly or indirectly, on behalf of yourself or any other person, company or entity, offer, provide, solicit, sell, or participate in offering, soliciting, providing, or selling,
products or services competitive with or similar to products or services offered by, developed by, designed by, or distributed by, the Company to any person, company or entity which was a Customer for such products or services, and with which you
had direct or material contact regarding such products or services at any time during the eighteen (18) months preceding the termination of your employment with the Company, for any reason. For the purposes of this paragraph, the
“Restricted Area” is the geographic area where you provided services to the Company during the 18 months preceding the termination of my employment with the Company. You agree that at the time of execution of this Agreement, the Restricted
Area encompasses the state of Massachusetts. 

  
 11 

	 	12.2	 During your employment with the Company, and for twelve (12) months thereafter, you will not, in the
Restricted Area (as defined in paragraph 11.1 above) within the USA or Canada directly or indirectly, on behalf of yourself or in conjunction with any other person, company or entity, own (other than less than five (5) percent ownership in a
publicly traded company), manage, operate, or participate in the ownership, management, operation, or control of, or be employed with the following entities which you agree are in competition with the Company: Epic Systems, Inc., Cerner Corporation,
TriZetto, Optum/United; GE Healthcare, Philips Healthcare, Fujifilm Medical Systems, or Carestream Health, with which you would hold a position with responsibilities similar to any position you held with the Company during the eighteen
(18) months preceding the termination of your employment with the Company or in which you would have responsibility for and access to Company Information similar or relevant to that which you had access to during the eighteen (18) months
preceding the termination of your employment with the Company, for any reason. 

  

	 	12.3	 During your employment or relationship with the Company and for twelve (12) months thereafter, you will
not, nor will you assist any third party to, directly or indirectly (i) raid, hire, solicit, or attempt to persuade any current or former employee of the Company or any person who was an employee of the Company during the six (6) months
preceding the termination of your employment or relationship with the Company, who possesses or had access to Company Information, Customer Information, Third Party Information, and/or Company Property, to (i) leave the employ of or terminate a
relationship with the Company; (ii) interfere with the performance by any such persons of their duties for the Company; or (iii) communicate with any such persons for the purposes described in items (i) and (ii) in this paragraph.

  

	 	12.4	 During your employment with the Company and for twelve (12) months thereafter, you will not, in the
Restricted Area (as defined in paragraph 12.1 above) within the USA or Canada, directly or indirectly, on behalf of yourself or any other person, company or entity, participate in the research or development of any products or services, competitive
with products or services of the Company, for which you had research or development responsibilities during the twenty-four (24) months preceding the termination of your employment with the Company, for any reason. 

 

	13.	 Equitable Relief 

 

	 	13.1	 You acknowledge that the restrictions contained in paragraphs 10, 11 and 12 of this Agreement are, in view of
the nature of the business of the Company, reasonable and necessary to protect the legitimate interests of the Company, that the Company would not have entered into this Agreement in the absence of such restrictions, that the business of the Company
is international in scope and that any violation of any provision of those paragraphs could result in irreparable injury to the Company. 

  
 12 

	 	13.2	 You agree that, in the event you violate any of the restrictions referred to in paragraphs 10, 11, and 12 the
Company shall be entitled to preliminary and permanent injunctive relief and any other remedies in law or in equity which the court deems fit. 

  

	14.	 Personal Data And Privacy  

 

	 	14.1	 You consent that: 

  

	 	14.1.1	 the personal data relating to you may be maintained and stored by the Company electronically or in any other
form and may be stored outside of Canada; and 

  

	 	14.1.2	 the personal data relating to you may be freely transferred and shared between the Company and all of its
related entities irrespective of where the offices of such entities are physically located. 

  

	 	14.2	 You acknowledge and agree that the Company has the right to collect, use and disclose personal information of
you for purposes relating to your provision of services to the Company, including: 

  

	 	14.2.1	 ensuring that you are paid for the services; 

 

	 	14.2.2	 administering any benefits to which you are or may become entitled to, including medical, dental, disability
and life insurance benefits and/or share options. This shall include the disclosure of any of your personal information to any insurance company and/or broker or to any entity that manages or administers the Company’s benefits on behalf of the
Company 

  

	 	14.2.3	 to ensure compliance with any regulatory reporting; 

 

	 	14.2.4	 enforcing the Company’s policies including those relating to the proper use of the electronic
communications network and to comply with applicable laws; 

  

	 	14.2.5	 marketing efforts on behalf of the Company including, but not limited to, client targets and use on the Company
web site; and 

  

	 	14.2.6	 access control devices used by the Company. 

  
 13 

	15.	 Cooperation 

  

	 	15.1	 You will cooperate in the truthful and honest prosecution and/or defense of any third party claim in which the
Company may have an interest subject to reasonable limitations concerning time and place, which may include without limitation participating in any proceeding involving the Company, being interviewed by representatives of the Company, appearing for
depositions and testimony without requiring a subpoena, and producing and/or providing any documents or names of other persons with relevant information; provided that, if such services are required after the termination of your employment with the
Company, the Company will provide you reasonable compensation for the time actually expended in such endeavors and will pay your reasonable expenses incurred at the prior and specific request of the Company. 

 

	16.	 Survival 

  

	 	16.1	 The provisions of paragraphs 10-21 of this Agreement will survive the
termination of your employment for any reason, and the assignment of this Agreement by the Company to any successor in interest or other assignee. 

  

	17.	 Successors and Assigns 

 

	 	17.1	 The rights and/or obligations in this Agreement may be assigned by the Company without your consent, and such
assigned rights and/or obligations will bind and inure to the benefit of the Company’s successors, assigns, and representatives. This Agreement is binding upon you, your heirs, executors, administrators and other legal representatives.

  

	18.	 Acknowledgment of Obligations 

 

	 	18.1	 Your obligations under this Agreement are in addition to, and do not limit, any obligations concerning the same
subject matter arising under applicable law including, without limitation, common law relating to fiduciary duties, duties of fidelity, honesty, and good faith, common law and statutory law relating to trade secrets. 

 

	19.	 Acceptance 

  

	 	19.1	 This Agreement is accepted by you through your original or electronic signature. The Company is deemed to have
accepted this printed Agreement in Vancouver, British Columbia, Canada (no handwritten changes unless expressly accepted by the Company) as evidenced by your employment with the Company, the payment of wages or any monies to you, the provision of
benefits to you, or by the Company’s original or electronic execution of this Agreement, following your acceptance. 

  

	20.	 Choice of Law, Venue, Injunctive Relief, and Attorney’s Fees. 

 

	 	20.1	 This Agreement is deemed to have been made in the City of Vancouver, British Columbia, Canada, and will be
governed by the laws of the province of British Columbia without regard to its conflicts of law provisions. You hereby consent to, and waive any objection to, personal jurisdiction and venue in any courts in the City

  
 14 

	 	
of Vancouver, province of British Columbia, Canada, for the purpose of any action to construe or enforce this Agreement and/or to recover damages for the Company’s breach thereof. You agree
that any dispute arising from this Agreement, including, but not limited to, issues of breach, enforceability, damages or modification, will be decided only in a court sitting in or covering the City of Vancouver, province of British Columbia,
Canada, which you expressly agree is the exclusive venue for any such action. You understand and agree that it is a legitimate business interest of the Company to have its agreements for Canadian employees governed by the same law for the sake of
uniformity and consistency, and that British Columbia, Canada is a reasonable and appropriate choice of law. In the event of a breach or a threatened breach of this Agreement by you, you agree and acknowledge that the Company will face irreparable
injury which may be difficult to calculate in dollar terms and that the Company will be entitled, in addition to remedies otherwise available at law or in equity, to temporary restraining orders and preliminary and permanent or final injunctions
without the posting of a bond enjoining such breach or threatened breach. You agree to pay the Company’s reasonable attorney’s fees and costs incurred as a result of successfully enforcing this Agreement against you. 

 

	21.	 Entire Agreement, Amendment, and Severability 

 

	 	21.1	 This Agreement supersedes all prior agreements and understandings between the parties with respect to such
subject matter and/or as specifically provided for herein. You have been given an opportunity to have this Agreement reviewed by your attorney, and you are not relying on legal advice provided by the Company or any Company personnel. Further, you
have not, will not, and cannot, rely on any representations not expressly made in this Agreement. No waiver of any breach of any provision of this Agreement by the Company will be effective unless it is in writing and no waiver will be construed to
be a waiver of any succeeding breach or as a modification of such provision. The terms of this Agreement will not be amended by you or the Company except by the express written consent of the Company and you. The provisions of this Agreement will be
severable and if any provision of this Agreement is found by any court to be unenforceable, in whole or in part, the remainder of this Agreement will be enforceable and binding on the parties. You agree that the court may modify any invalid,
overbroad or unenforceable term of this Agreement so that such term, as modified, is valid and enforceable to the fullest extent permitted under applicable law and is authorized to extend the length of this Agreement for any period of time in which
you are in breach of this Agreement or as necessary to protect the legitimate business interests of the Company. Any subsequent change in your duties, title, salary or compensation will not affect the validity, enforceability, or scope of this
Agreement. 

 Kindly signify your acceptance of the terms and conditions under which the Company is offering you employment by signing and
dating the duplicate copy of this Agreement and returning same to me prior to March 1, 2017. 

  
 15 

 Congratulations and thank you for your continued commitment to IWS Canada and Change Healthcare. 

Sincerely,  
 NEIL DE CRESCENZO 

PRESIDENT AND CEO 

  
 16 

 I hereby acknowledge and confirm that I have had sufficient opportunity to read and understand all of the
terms and conditions outlined in this Agreement and I have had a reasonable opportunity to seek such legal, financial or other advice as I deemed necessary and appropriate. I hereby acknowledge and confirm that I have received good and valuable
consideration for entering into this Agreement. 
 I hereby accept and agree to all of the terms and conditions outlined in this Agreement. 1 sign this
Agreement freely and voluntarily, without any pressure, duress or undue influence. I have not relied upon any representations, inducements or statements (oral, written or otherwise) which are not contained in this Agreement. 

 

	
	 /s/ Rod O’ Reilly

	Rod O’Reilly
	
	 02/27/2017

	Date

  
 17

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