Document:

bws8k011011ex10_1.htm

  

  

  

EXHIBIT 10.1

EMPLOYMENT AGREEMENT FOR

RONALD A. FROMM

THIS EMPLOYMENT AGREEMENT (this “Agreement”), entered into this 7th day of January, 2011 and effective as of May 26, 2011 (the “Effective Date”), is by and between Ronald A. Fromm (“Employee”) and Brown Shoe Company, Inc., a New York corporation (“Brown Shoe” and, together with its subsidiaries, the “Company”), provided Employee remains employed with Brown Shoe through the Effective Date.

 

WITNESSETH THAT:

 

WHEREAS, the Company is engaged in the sourcing and retail and wholesale sale of footwear in the United States and throughout the world;

 

WHEREAS, Employee is currently employed as the Chief Executive Officer of Brown Shoe and is also currently the Chairman of the Board of Directors of Brown Shoe (the “Board of Directors”);

 

WHEREAS, Employee and Brown Shoe desire that Employee transition out of his role as Chief Executive Officer of Brown Shoe effective as of the Effective Date;

 

WHEREAS, Employee and Brown Shoe desire that Employee remain an employee of Brown Shoe following the Effective Date in a non-executive capacity and it is expected that Employee will remain as Chairman of the Board of Directors;

 

WHEREAS, Brown Shoe desires to insure, insofar as possible, that the Company will continue to have the benefit of Employee’s services following the Effective Date and to protect the confidential information and goodwill of the Company; and

 

WHEREAS, Employee and Brown Shoe are currently parties to a Severance Agreement, dated April 1, 2006, as amended (the “Prior Agreement”), which Employee and Brown Shoe desire to terminate as of the Effective Date and replace with this Agreement;

 

NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements hereinafter set forth herein, the parties hereto mutually covenant and agree as follows:

 

Section 1. Definitions.

 

1.1 “Cause” means (i) engaging by Employee in willful misconduct which is materially injurious to the Company; (ii) conviction of Employee of a felony; (iii) engaging by Employee in fraud, material dishonesty or gross misconduct in connection with the business of the Company; (iv) engaging by Employee in any act of moral turpitude reasonably likely to materially and adversely affect the Company or its business; (v) engaging by Employee in the illegal use of a controlled substance or using prescription medications unlawfully; or (vi) abuse by Employee of alcohol.

 

1.2 “Code” means the Internal Revenue Code of 1986, as amended, and the regulations and other guidance promulgated thereunder.

 

1.3 “Competitor” means any Person which (a) in its prior fiscal year had annual gross sales volume or revenues of more than $20,000,000 attributable to the sale of footwear or (b) is reasonably expected to have such level of footwear sales or revenues in either the current fiscal year or the next following fiscal year.

 

1.4 “Confidential Information” shall have the meaning set forth in Section 6.2.

 

1.5 “Customer” means any wholesale customer of the Company which either purchased from the Company during the one (1) year immediately preceding the Termination Date, or is reasonably expected by the Company to purchase from the Company in the one (1) year period immediately following the Termination Date, more than $1,000,000 in footwear.

 

1.6 “Person” means any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended).

 

1.7 “Termination Date” means May 26, 2013 or, if earlier, the effective date of the termination of Employee’s employment with Brown Shoe.

 

Section 2. Employment.  Provided Employee is employed by Brown Shoe on the Effective Date, Employee shall cease to be the Chief Executive Officer of Brown Shoe, but shall remain an employee of Brown Shoe in a non-executive capacity.  For the avoidance of confusion, none of Employee’s duties or obligations as a Brown Shoe employee will affect his duties or obligations as a member of the Board of Directors.

 

Section 3. Term of Employment / Prior Agreement.  Unless terminated earlier pursuant to Section 5 of this Agreement, the term of this Agreement shall be a two (2) year period commencing on the Effective Date.  The Prior Agreement shall remain effective until May 26, 2011, upon which date such Prior Agreement shall terminate.

 

Section 4. Compensation.

 

4.1 Base Salary.  Effective May 29, 2011, Employee’s base salary (“Base Salary”) shall be $500,000 per annum, which shall be payable in equal installments during the year in accordance with Brown Shoe’s normal payroll practices in effect from time to time and shall be subject to deductions for customary withholdings, including, without limitation, federal and state withholding taxes and payroll taxes.

 

4.2 Annual Incentive.  Employee shall be entitled to participate in the Brown Shoe annual incentive program with respect to the 2011 annual incentive plan year (for the fiscal year beginning January 30, 2011) at the established threshold, target, and maximum payout percentage in effect for the 2010 annual incentive plan year.  Such award for the 2011 annual incentive plan year shall be paid at the same time and in accordance with the same general practices as awards paid to other Company employees with respect to such 2011 annual plan year.  Unless otherwise determined by the Board of Directors or the Compensation Committee thereof, Employee shall not be entitled to participate in such annual incentive program with respect to the 2012 annual incentive plan year or any later incentive plan year.

 

4.3 Restricted Stock.  Provided Employee is employed by Brown Shoe on the Effective Date, on such date Brown Shoe shall grant Employee 112,500 shares of restricted stock.  Such restricted stock shall be granted pursuant to and be subject to the terms of the Brown Shoe Company, Inc. Incentive and Stock Compensation Plan of 2002, as Amended and Restated as of May 22, 2008 (“Plan”), and that such restricted stock shall be scheduled to vest on May 26, 2013 and be subject to standard terms and conditions of similar awards.  Unless otherwise determined by the Board of Directors or the Compensation Committee thereof, the restricted stock grant described in this Section 4.3 will be the only long-term incentive award granted to Employee for his service during the 2011 fiscal year.

 

4.4 Outstanding Equity and Performance Compensation.  Notwithstanding any provision in the Plan or any other equity incentive or similar plan, or any award agreement (“Award Agreement”) entered into with respect to an award granted thereunder (“Award”), (i) Employee shall be considered to remain employed for purposes of the vesting or exercise provisions of the Plan and any such Award Agreement during the term of this Agreement; and (ii) Employee shall be scheduled to vest in and become entitled to payment of any Award  granted prior to the date of this Agreement (in accordance with the same general practices as similar Awards paid to other Company employees) on the earlier of the date of vesting in effect as of the date of this Agreement or the Termination Date, provided that amounts shall be paid or shares of Brown Shoe common stock shall be transferred with respect to any such Award (other than restricted stock) as the case may be in accordance with the terms of the Plan and Award Agreement.

 

4.5 SERP / Deferred Compensation Benefits.  As of the Effective Date, the parties reasonably anticipate that the level of bona fide services Employee performs for the Company shall be permanently reduced to less than 50% of the average level of bona fide services he performed for the Company over the 36-month period ending on the Effective Date.  Therefore, Employee shall be entitled to benefits under the Brown Shoe Company, Inc. Supplemental Executive Retirement Plan and Brown Shoe Company, Inc. Deferred Compensation Plan (and any other nonqualified deferred compensation plan subject to Section 409A of the Code) pursuant to a “termination of employment” from the Company on the Effective Date.  Distributions pursuant to such plans shall be made in accordance with their terms, and Employee’s participation in such plans shall cease on the Effective Date.

 

4.6 Employee Benefit Programs.  During the term of this Agreement, Employee shall be entitled to participate in all disability, health, medical, dental, insurance and other fringe benefits or plans of the Company generally available to employees of the Company, in accordance with and subject to the terms thereof.  Employee shall continue to be eligible to participate in any qualified retirement plans after the Effective Date.

 

4.7 Expenses.  During the term of this Agreement, upon Employee’s submission of proper substantiation, Brown Shoe shall reimburse Employee for all reasonable business expenses actually and necessarily paid or incurred by him in the course of and pursuant to the business of the Company, in accordance with Brown Shoe’s policies relating to the reimbursement of business expenses.

 

4.8 Financial and Tax Planning.  Brown Shoe shall reimburse Employee for expenses related to financial and tax planning services incurred on his behalf in an amount not exceeding $15,000 per year for Employee’s 2011 and 2012 taxable years.

 

4.9 Club Dues.  During the term of this Agreement, Brown Shoe shall continue to pay or reimburse Employee on a monthly basis for then current monthly dues and assessments charged by two clubs of which Employee is a member primarily for business purposes.

 

4.10 Office Space.  During the term of this Agreement, Employee shall be provided with office space at Brown Shoe’s headquarters and shall be assigned an administrative assistant to assist in the performance of his duties.

 

Section 5. Termination of Employment.

 

5.1 Brown Shoe may terminate Employee’s employment at any time for Cause, effective upon written notice to Employee specifying in reasonable detail the particulars of Employee’s conduct deemed by Brown Shoe to justify such termination for Cause.

 

5.2 Brown Shoe may terminate Employee’s employment without Cause at any time, effective upon written notice to Employee of termination specifying that such termination is without Cause.

 

5.3 Employee may terminate Employee’s employment with Brown Shoe at any time for any reason or no reason, effective upon written notice to Brown Shoe of termination.

 

5.4 If Employee’s employment is terminated by Brown Shoe for any reason other than for Cause, or Employee’s death or disability, Employee shall be entitled to the following benefits:

 

(a) Brown Shoe shall pay, or cause to be paid, to Employee within 30 days of the Termination Date (i) the full base salary earned by Employee through, but unpaid at, the Termination Date, plus (ii) any other amounts owed by the Company to Employee (other than any bonus payment of any kind) but unpaid as of the Termination Date, plus (iii) Employee’s bonus for the year of termination prorated to the Termination Date, paid at the time such bonus would have been paid if Employee had remained employed to the date of payment and calculated based on achievement of the applicable performance criteria applicable to such bonus payment.

 

(b) Brown Shoe shall continue to pay Employee his Base Salary through May 26, 2013.  Such Base Salary shall be paid at the same time and on the same schedule that such amounts would have been paid had Employee’s employment with Brown Shoe not been terminated.

 

(c) For the period beginning on the date of Employee’s termination of employment under this Section 5.4 and ending on the earlier of (i) the date that is eighteen (18) months after such date or (ii) May 26, 2013 (“Benefit Extension Period”), the Company shall provide to Employee medical and/or dental coverage under the Company’s medical and/or dental plans without any cost to Employee in excess of any employee contribution that would be payable by Employee if Employee remained employed by Brown Shoe.  In addition, if the Benefit Extension Period ends before May 26, 2013, the Company shall pay, or cause to be paid, to Employee an amount in cash equal to the aggregate amount that would be payable by the Company for such medical and/or dental coverage for the period beginning on the day after the last day of the Benefit Extension Period and ending on May 26, 2013 if Employee had remained employed by Brown Shoe for such period, based on the Company contribution rates in effect under the medical and/or dental plans on such payment date.  This payment shall be payable on the last day of the Benefit Extension Period.

 

(d) The restrictions applicable to each share of non-vested restricted stock of Brown Shoe held by Employee shall lapse as of the Termination Date.

 

(e) Each non-vested option to purchase Brown Shoe stock held by Employee as of the Termination Date shall vest.

 

(f) The Company shall pay Employee in cash the fair market value at “Target” levels for any performance share or performance cash Awards outstanding.

 

5.5 If Employee’s employment is terminated for any reason other than such reasons specified in Section 5.4, the Company shall pay, or cause to be paid, to Employee within 30 days of the Termination Date (i) the full base salary earned by Employee through, but unpaid at, the Termination Date, plus (ii) any other amounts owed by the Company to Employee (other than any bonus payment of any kind) but unpaid as of the Termination Date.

 

Section 6. Covenant Not to Compete.

 

6.1 During Employee’s employment with Brown Shoe and for a period of two (2) years after the Termination Date (collectively, the “Restricted Period”), Employee will not, directly or indirectly, on Employee’s own behalf or on behalf of any other Person (whether as owner, partner, consultant, employee or otherwise):

 

(a) provide any executive, managerial, supervisory, and/or consulting services with respect to the footwear industry and/or the footwear business in the United States for any Competitor;

 

(b) hold any executive, managerial and/or supervisory position with any Competitor in the United States;

 

(c) assist any Competitor in competing against the Company (i) in the United States and/or (ii) in any other country in which the Company is doing business in the one year immediately preceding the Termination Date (each a “Foreign Country”), as Employee had access to Confidential Information regarding the Company’s business in such Foreign Country;

 

(d) engage in any research, development and/or planning activities or efforts for a Competitor, whether as an employee, consultant, independent contractor or otherwise, to assist the Competitor in competing in the footwear industry (i) in the United States or (ii) in any Foreign Country;

 

(e) cause or attempt to cause any Customer to divert, terminate, limit, modify or fail to enter into any existing or potential relationship with the Company;

 

(f) assist any Competitor in connection with any plan, effort, activity or undertaking to cause or attempt to cause any Customer to divert, terminate, limit, modify or fail to enter into any existing or potential relationship with the Company;

 

(g) cause or attempt to cause any footwear supplier or manufacturer of the Company to divert, terminate, limit, modify or fail to enter into any existing or potential relationship with the Company;

 

(h) assist any Competitor in connection with any plan, effort, activity or undertaking to cause or attempt to cause any footwear supplier or manufacturer of the Company to divert, terminate, limit, modify or fail to enter into any existing or potential relationship with the Company; and/or

 

(i) solicit, entice, employ or seek to employ, in the footwear industry, any executive, managerial and/or supervisory employee of, or any consultant or advisor to, the Company.

 

6.2 Employee recognizes and agrees that the restraints contained in Section 6.1 are reasonable and should be fully enforceable in view of, among other things, the high level positions Employee has had with the Company, the national and international nature of both the Company’s collective business and competition in the footwear industry, and the legitimate interests of the Company in protecting its confidential, proprietary and trade secret information (“Confidential Information”) and their respective customer goodwill and relationships.  Employee specifically hereby acknowledges and confirms that Employee is willing and intends to, and will, abide fully by the terms of Section 6.1.  Employee further agrees that the Company would not have adequate protection if Employee were permitted to work for its competitors in violation of the terms of this Agreement since the Company would, among other things, be unable to verify whether (i) its Confidential Information was being disclosed and/or misused, and/or (ii) Employee was involved in diverting or helping to divert the Company’s customers and/or customer goodwill.

 

6.3 Employee agrees to disclose, during the Restricted Period, the terms of this Section 6 to any potential future employer.

 

Section 7. Confidential Information.

 

7.1 Employee acknowledges and agrees that during Employee’s employment, Employee has been and/or will be provided and have access to certain Confidential Information of the Company.  Employee agrees to keep secret and confidential, and not to use or disclose to any third-parties, except as directly required for Employee to perform Employee’s employment responsibilities for the Company, any of the Company’s Confidential Information.

 

7.2 Confidential Information includes all confidential and/or trade secret information of the Company (regardless of the form or medium in which it may exist or be stored or preserved) and includes, but is not limited to, all such information containing or reflecting any:

 

(a) lists or other identification of customers or prospective customers of the Company (and/or key individuals employed or engaged by such parties);

 

(b) lists or other identification of sources or prospective sources of the Company’s products or components thereof (and/or key individuals employed or engaged by such parties);

 

(c) compilations, information, designs, drawings, files, formulae, lists, machines, maps, methods, models, notes or other writings, plans, records, regulatory compliance procedures, reports, specialized or technical data, schematics, source code, object code, documentation, and software relating to the development, manufacture, fabrication, assembly, marketing and/or sale of the Company’s products;

 

(d) financial, distribution, sales and marketing information, data, plans, and/or strategies of the Company;

 

(e) equipment, materials, procedures, processes, and techniques used in, or related to, the development, manufacture, assembly, fabrication or other production and quality control of the Company’s products and services;

 

(f) the Company’s relations and/or dealings with its customers, prospective customers, suppliers and prospective suppliers and the nature and type of products or services rendered to such customers (or proposed to be rendered to prospective customers);

 

(g) the Company’s relations with its employees (including, without limitation, salaries, job classifications and skill levels); and

 

(h) any other information designated by the Company to be confidential, secret and/or proprietary (including without limitation, information provided by customers or suppliers of the Company).

 

Notwithstanding the foregoing, the term “Confidential Information” shall not consist of any data or other information which has been made publicly available or otherwise placed in the public domain other than by Employee in violation of this Agreement.

 

7.3 Employee will not, directly or indirectly, copy, reproduce or otherwise duplicate, record, abstract, summarize or otherwise use for Employee or use for, or disclose to, any party other than the Company, any Confidential Information, without Brown Shoe’s prior written permission or except as required for the proper performance of Employee’s duties on behalf of the Company.

 

7.4 Employee understands that Confidential Information may or may not be labeled as “confidential” and will treat all information as confidential unless otherwise informed by Brown Shoe.

 

7.5 At the termination of Employee’s employment with the Company or at any other time the Company may request, Employee shall promptly deliver to Brown Shoe all documents and other materials, whether in physical or electronic form (including all copies thereof), containing any Confidential Information.

 

Section 8. Injunctive Relief.

 

In the event of a breach or threatened breach of any of Employee’s duties or obligations under the terms and provisions of Section 6, Section 7, Section 9.2 or Section 9.9, the Company shall be entitled, in addition to any other legal or equitable remedies it may have in connection therewith (including any right to damages that it may suffer), to temporary, preliminary and permanent injunctive relief restraining such breach or threatened breach.  Employee hereby expressly acknowledges that the harm that might result to the Company’s business as a result of noncompliance by Employee with any of the provisions of Section 6, Section 7, Section 9.2 or Section 9.9 would be largely irreparable.  Employee specifically agrees that if there is a question as to the enforceability of any of the provisions of Section 6, Section 7, Section 9.2 or Section 9.9, Employee will not engage in any conduct inconsistent with or contrary to such Sections until after the question has been resolved by a final judgment of a court of competent jurisdiction.  Employee undertakes and agrees that if Employee breaches or threatens to breach the Agreement, Employee shall be liable for any attorneys’ fees and costs incurred by the Company in enforcing its rights hereunder.

 

Section 9. Miscellaneous.

 

9.1 Notice.  All notices hereunder shall be in writing and shall be deemed to have been duly given (a) when delivered personally or by courier, or (b) when received by facsimile (including electronic mail), receipt confirmed, or (c) on the third business day following the mailing thereof by registered or certified mail, postage prepaid, or (d) on the first business day following the mailing thereof by overnight delivery service, in each case addressed as set forth below:

 

If to Brown Shoe:

 

Brown Shoe Company, Inc.

8300 Maryland Avenue

St. Louis, Missouri  63105

Attention:  General Counsel

 

If to Employee:

 

Ronald A. Fromm

756 Kent Road

St. Louis, MO  63124

 

Any party may change the address to which notices are to be addressed by giving the other party written notice in the manner herein set forth.

 

9.2 Binding Agreement.  This Agreement is personal to Employee and Employee may not assign or delegate any part of Employee’s rights or duties hereunder to any other person, except that this Agreement shall inure to the benefit of and be enforceable by Employee’s legal representatives, executors, administrators, heirs and beneficiaries.

 

9.3 Judicial Modification.  If and to the extent that any Section, term and/or provision of this Agreement is determined by a court of competent jurisdiction to be unenforceable under applicable law, then such Section(s), term(s) and/or provision(s) shall not be void but instead shall be modified and, to the maximum extent permissible under applicable law, enforced.

 

9.4 Headings.  The headings in this Agreement are inserted for convenience of reference only and shall not in any way affect the meaning or interpretation of this Agreement.

 

9.5 Counterparts.  This Agreement may be executed in multiple counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

 

9.6 Waiver.  Neither any course of dealing nor any failure or neglect of either party hereto in any instance to exercise any right, power or privilege hereunder or under law shall constitute a waiver of such right, power or privilege or of any other right, power or privilege or of the same right, power or privilege in any other instance.  All waivers by either party hereto must be contained in a written instrument signed by the party to be charged therewith, and, in the case of the Company, by its duly authorized officer.

 

9.7 Entire Agreement; Termination of Prior Agreement.  This instrument constitutes the entire agreement of the parties in this matter and, as of the Effective Date, shall supersede any other agreement between the parties, oral or written, concerning the same subject matter (including, without limitation, the Prior Agreement).  The Prior Agreement will terminate on the Effective Date.

 

9.8 Amendment.  Subject to Section 9.3, no modification, amendment or waiver of any of the provisions of this Agreement shall be effective unless in writing specifically referring hereto, and signed by the parties hereto.

 

9.9 Governing Law.  In light of Company’s and Employee’s substantial contacts with the State of Missouri, the facts that the Company is headquartered in Missouri and Employee resides in and/or reports to Company management in Missouri, the parties’ interests in ensuring that disputes regarding the interpretation, validity and enforceability of this Agreement are resolved on a uniform basis, and Brown Shoe’s execution of, and the making of, this Agreement in Missouri, the parties agree that:  (i) any litigation involving any noncompliance with or breach of the Agreement, or regarding the interpretation, validity and/or enforceability of the Agreement, shall be filed and conducted exclusively in the state courts in St. Louis County, Missouri, or the U.S. District Court for the Eastern District of Missouri; and (ii) this Agreement shall be interpreted in accordance with and governed by the laws of the State of Missouri, without regard for any conflict of law principles.  Employee agrees that Employee under no circumstances will, either alone or in conjunction with anyone else, file or pursue any such litigation other than in such state or federal courts in Missouri, and Employee hereby consents and agrees that any such litigation filed in any other court(s) shall be dismissed and that Employee may be enjoined from filing and/or pursuing any such action.

 

9.10 Third Party Beneficiaries.  Employee agrees that Brown Shoe’s subsidiaries are third party beneficiaries of this Agreement and hereby consents to the enforcement by any subsidiary of Brown Shoe of the provisions contained herein, including without limitation, the provisions of Section 6 and Section 7.

 

9.11 Code Section 409A.

 

(a) With respect to those amounts payable hereunder which are subject to Code Section 409A, this Agreement shall be interpreted in a manner so as to be consistent with such provision and the rules and regulations promulgated thereunder.  Brown Shoe may modify the Agreement to the extent necessary to prevent a benefit or payment from being subject to a tax due to noncompliance with Code Section 409A.

 

(b) For purposes of Code Section 409A, the right to a series of installment payments hereunder, including a right to each separate payment of Base Salary as described in Section 4.1 and separation pay described in Section 5.4, shall be treated as a right to a series of separate payments.

 

(c) The amount of expenses eligible for reimbursement during a year shall not affect the expenses eligible for reimbursement in any other year.  Reimbursement of an eligible expense shall be made in accordance with the Company’s policies and practices and as otherwise provided herein, provided, that, in no event shall reimbursement be made after the last day of the calendar year following the calendar year in which the expense was incurred.  The right to reimbursement is not subject to liquidation or exchange for another benefit.

 

9.12 Clawback.  Any payment hereunder will be subject to recovery by the Company pursuant to applicable law or if it is determined that Employee personally and knowingly engaged in practices that materially contribute to circumstances that lead to the restatement of the Company’s financial statements for any fiscal year prior to or including the Company’s fiscal year ending in 2013.

 

Signature page follows.

 

  

  

  

IN WITNESS WHEREOF, Employee and Brown Shoe have executed this Agreement as of January 7, 2011.

 

	
Brown Shoe Company, Inc.

 

	  	
Employee

 

	
By:

	
/s/ Douglas W. Koch

	  	
/s/ Ronald A. Fromm

	
Name:

	
Douglas W. Koch

	  	
Ronald A. Fromm

	
Title:

	
Senior Vice President and Chief Talent Officerexhibit4-1.htm

HUMANA INC.

 

DEFERRED COMPENSATION PLAN

 

 

ARTICLE I                      

 

Introduction and Purpose

 

1.1 Statement of Purpose.  The primary purpose of this Plan is to provide certain key employees of Humana Inc. and its subsidiaries with the opportunity to defer receipt of a portion of certain incentive compensation to which they may become entitled while the Plan is in effect.  The Plan is intended to be an unfunded, nonqualified deferred compensation plan and shall be construed accordingly.

 

1.2 Top Hat Plan.  The Company intends that the Plan constitute an unfunded “top hat” plan maintained for the purpose of providing deferred compensation to a select group of management or highly-compensated employees, within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA.

 

ARTICLE II

 

Definitions and Construction

 

2.1 Definitions.  Where the following words and phrases appear in the Plan, they shall have the respective meanings set forth below, unless their context clearly indicates to the contrary:

 

(1) Account:  The notional account established and maintained by the Plan on behalf of each Participant to record such Participant’s interest under the Plan.

 

(2) Allocation Date:  With respect to a Deferral Election, the date on which all or a portion of a Participant’s Deferral Amount is credited to his or her Account, which shall be the date which is 15 days after such Deferral Amount (or portion thereof) would have been paid to the Participant if the Participant had not made a Deferral Election.

 

(3) Authorized Officer:  The Company’s Chief Executive Officer and any other officer designated by the Committee as an Authorized Officer for purposes of the Plan.

 

(4) Beneficiary:  The term “Beneficiary” shall have the meaning set forth in Section 10.3.

 

(5) Board:  The Board of Directors of the Company.

 

(6) Change in Control:  The occurrence of any of the following events:

 

 

(a) An acquisition (other than directly from the Company) of any  voting securities of the Company (the “Voting Securities”) by any “Person” (as the term person is used for purposes of Section 13(d) or 14(d) of the Exchange Act), immediately after which such Person has “Beneficial Ownership” (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of twenty percent (20%) or more of the combined voting power of the Company’s then outstanding Voting Securities; provided, however, in determining whether a Change in Control has occurred, Voting Securities which are acquired in a “Non-Control Acquisition” (as hereinafter defined) shall not constitute an acquisition which would cause a Change in Control. A “Non-Control Acquisition” shall mean an acquisition by (i) an employee benefit plan (or a trust forming a part thereof) maintained by (A) the Company or (B) any corporation or other Person of which a majority of its voting power or its equity securities or equity interest is owned, directly or indirectly, by the Company (for purposes of this definition, a “Subsidiary”) (ii) the Company or its Subsidiaries, or (iii) any Person in connection with a “Non-Control Transaction” (as hereinafter defined);

 

(b) The individuals who, as of the effective date of this Plan are members of the Board (the “Incumbent Board”), cease for any reason to constitute at least two-thirds of the members of the Board; provided, however, that if the election, or nomination for election by the Company's common stockholders, of any new director was approved by a vote of at least two-thirds of the Incumbent Board, such new director shall, for purposes of this Plan, be considered as a member of the Incumbent Board; provided further, however, that no individual shall be considered a member of the Incumbent Board if such individual initially assumed office as a result of either an actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board (a “Proxy Contest”) including by reason of any agreement intended to avoid or settle any Proxy Contest; or

 

(c) The consummation of:

 

(A) A merger, consolidation or reorganization involving the Company, unless such merger, consolidation or reorganization is a “Non-Control Transaction.” A “Non-Control Transaction” shall mean a merger, consolidation or reorganization of the Company where: 

 

(i) the stockholders of the Company, immediately before such  merger, consolidation or reorganization, own directly or indirectly immediately following such merger, consolidation or reorganization, at least seventy-five percent (75%) of the  combined voting power of the outstanding Voting Securities of the corporation resulting from such merger or consolidation or reorganization (the “Surviving Corporation”) in substantially the same proportion as their ownership of the Voting Securities immediately before such merger, consolidation or reorganization,

 

(ii) the individuals whowere members of the Incumbent Board  immediately prior to the execution of the agreement providing for such merger, consolidation or reorganization constitute at least two-thirds of the members of the board of directors of the Surviving Corporation, or a corporation beneficially directly or  indirectly owning a majority of the Voting Securities of the Surviving Corporation, and no agreement, plan or arrangement is in place to change the composition of the board of directors following the merger, consolidation or reorganization; and  

 

(iii) no Person other than (i) the Company, (ii) any Subsidiary, (iii) any employee benefit plan (or any trust forming a part thereof) maintained by the Company, the Surviving Corporation, or any Subsidiary, or (iv) any Person who, immediately prior to such merger, consolidation or reorganization had Beneficial  Ownership of twenty percent (20%) or more of the then outstanding Voting Securities, has Beneficial Ownership of twenty percent (20%) or more of the combined voting power of the  Surviving Corporation’s then outstanding voting securities.

 

(iv) A complete liquidation or dissolution of the Company; or 

 

(v) The sale or other disposition of all or substantially all of the assets of the Company to any Person (other than a transfer to a Subsidiary).

 

Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any Person (the “Subject Person”) acquired Beneficial Ownership of more than the permitted amount of the then outstanding Voting Securities as a result of the acquisition of Voting Securities by the Company which, by reducing the number of Voting Securities then outstanding, increases the proportional number of Shares Beneficially Owned by the Subject Persons, provided that if a Change in Control would occur (but for the operation of this sentence) as a result of the acquisition of Voting Securities by the Company, and after such share acquisition by the Company, the Subject Person becomes the Beneficial Owner of any additional Voting Securities which increases the percentage of the then outstanding Voting Securities Beneficially Owned by the Subject Person, then a Change in Control shall occur.

 

(7) Code:  The Internal Revenue Code of 1986, as amended.

 

(8) Committee:  The Organization & Compensation Committee of the Board or such other committee of directors designated by the Board.

 

(9) Company:  Humana Inc.

 

(10) Deferral Amount:  The portion of a Participant’s Incentive Compensation elected by the Participant to be deferred in a Plan Year.

 

(11) Deferral Election:  A Participant’s timely election pursuant to Article IV which sets forth a Deferral Amount, a Deferral Period and a Distribution Method.

 

(12) Deferral Period:  The term “Deferral Period” shall have the meaning set forth in Section 4.1.

 

(13) Distribution Method:  The term “Distribution Method” shall have the meaning set forth in Section 6.2

 

(14) Eligible Employee:  For any Plan Year, (i) any person employed by the Company or any Subsidiary whose annual rate of base compensation as of December 31 of the year prior to the Plan Year exceeded the limitation provided in Code Section 401(a)(17) for the Plan Year and (ii) any other employee of the Company or any Subsidiary who the Committee or an Authorized Officer designates, prior to March 31 of a Plan Year, as an Eligible Employee for that Plan Year.

 

(15) ERISA:  Employee Retirement Income Security Act of 1974, as amended.

 

(16) Incentive Compensation:  Performance-based compensation, as such term is defined under Section 409A, paid by the Company or a Subsidiary to a Participant in respect of a Plan Year pursuant to any annual incentive plan sponsored by the Company or a Subsidiary in which a Participant participates.

 

(17) Investment Options:  The hypothetical investment vehicles in which a Participant’s deferrals may be deemed invested if and to the extent permitted by the Committee pursuant to Article V.  Investment Options shall be limited to those made available by the Committee in its discretion from time to time. 

 

(18) Participant:  Any Eligible Employee who has become a Participant of the Plan pursuant to Section 3.1 until such individual ceases to be a Participant pursuant to Section 3.2.

 

(19) Payment Commencement Date:   With respect to any Deferral Election, the first day of the second calendar month following the end of the Deferral Period set forth in the Deferral Election.

 

(20) Plan:  This Humana Inc. Deferred Compensation Plan, as amended from time to time.

 

(21) Plan Year:   The calendar year commencing with the first Plan Year being 2011.

 

(22) Separation from Service:  The termination of employment with the Company, as set forth in Section 409A.

 

(23) Section 409A.  Section 409A of the Code and the regulations and interpretive guidance issued thereunder.

 

(24) Subsidiary:   Any subsidiary of the Company listed on Schedule A hereto.

 

(25) Unforeseeable Emergency:  A severe financial hardship to a Participant resulting from an illness or accident of the Participant, the Participant’s spouse, the Participant’s beneficiary, or the Participant’s dependent (as defined in Code Section 152, without regard to 152(b)(1), (b)(2), and (d)(1)(B)); loss of the Participant’s property due to casualty; or any similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant.  The determination of whether an Unforeseeable Emergency exists shall be made by the Committee or Authorized Officers in accordance with Section 409A.

 

2.2 Headings.  The headings of Articles and Sections herein are included solely for convenience, and, if there is any conflict between such headings and the text of the Plan, the text shall control.

 

ARTICLE III                                

 

Participation

 

3.1 Eligibility.  An Eligible Employee shall become a Participant in the Plan upon a Deferral Election becoming irrevocable pursuant to Section 4.2.

 

3.2 Cessation of Eligibility.  A Participant shall cease to be a Participant upon the final distribution of all amounts credited to the Participant’s Account.

 

ARTICLE IV

 

Deferral Elections

 

4.1 Deferral Election.  Each Participant may elect to have the payment of up to 80% of his or her Incentive Compensation for a Plan Year deferred pursuant to the Plan; provided, that such amount must be equal to or greater than $25,000.  If a Participant’s Deferral Election results in a Deferral Amount of less than $25,000, then the Deferral Amount shall be zero.  Each Deferral Election shall be made on a deferral election form to be provided by the Company and shall specify (i) the Deferral Amount, (ii) the Deferral Period and (iii) the Distribution Method.  For purposes of the Plan, “Deferral Period,” with respect to any Deferral Election, shall mean the period commencing on the Allocation Date and, ending, at the election of the Participant, on (A) the date that is six months following the date of the Participant’s Separation from Service, (B) a date specified by the Participant in his or her Deferral Election or (C) the earlier of either the date that is six months following the date of the Participant’s Separation from Service or any date specified by the Participant in his or her Deferral Election.

 

4.2 Timing of Deferral Elections.  Deferral Elections made in respect of Incentive Compensation otherwise payable to Participants in a Plan Year shall be timely if made no later than March 31 of the Plan Year with respect to which the Incentive Compensation is earned.  A Deferral Election shall be irrevocable as of such date, except in the event of an Unforeseeable Emergency as described herein.  A Participant may change a Deferral Election in respect of any Plan Year prior to the date it becomes irrevocable.

 

4.3 Subsequent Deferrals.  With respect to any Deferral Election, a Participant may change the Deferral Period to one of the alternatives provided in Section 4.1 and/or the Distribution Method to one of the alternatives provided in Section 6.2, provided that any such change (i) will not be effective for twelve (12) months after the date on which such change is made, (ii) in the case of a Deferral Period that ends  on a specified date, must be made not less than twelve (12) months prior to the date of the first scheduled payment in respect of the Participant’s applicable Deferral Amount and (iii) will result in a Payment Commencement Date that is at least five (5) years after the previously scheduled Payment Commencement Date; provided further that a Participant shall be permitted to change the Distribution Method from a lump sum to installments only if the Deferral Amount (plus allocated earnings or losses) with respect to which the change is being made is equal to or greater than $100,000 at the time of such change.  Notwithstanding anything herein to the contrary, any change made pursuant to this Section 4.3 shall be done in a manner that complies with Section 409A.

 

ARTICLE V

 

Deferral Accounts

 

5.1 Deferral Account.  An Account shall be established on the books and records of the Company in the name of each Participant, which shall reflect the amount of actual deferrals pursuant to Article IV plus any earnings and less any losses thereon as an unfunded liability of the Plan to such Participant.  Amounts attributable to each Deferral Election shall be accounted for separately in a Participant’s Account.  Participants shall be fully vested in their Account balance at all times.

 

5.2 Credits to Accounts.  On each Allocation Date, an amount reflecting the Participant’s Deferral Amount which would otherwise have been paid to the Participant on such Allocation Date shall be credited to the Participant’s Account.

 

5.3 Investment of Accounts.  Participants’ Accounts shall accrue interest commencing on the Allocation Date at a rate prescribed by the Committee from time to time.  If and at such time as the Committee so determines to permit Participants to elect to have their Accounts deemed invested in Investment Options, Participants shall elect the Investment Option(s) in which amounts credited to the Participant’s Account shall be deemed to be allocated, which may be allocated in such increments as the Committee may from time to time permit.  If a Participant makes no investment election or makes an investment election with respect to less than 100% of his or her Account balance pursuant to this Section 5.3, unallocated amounts shall be deemed to be allocated to the default Investment Option established by the Committee.  A Participant may change the allocation of his or her Account balance among the Investment Options at the time or times and in the manner as the Committee may prescribe.  Any investment election or change in investment election shall apply to all amounts credited to the Participant’s Account notwithstanding the separate accounting for amounts attributable to each Deferral Election.

 

5.4 Adjustments to Account Balances.  The balances in Participants’ Accounts shall be adjusted for gains (or losses) as if such amounts were actually invested in the Investment Options selected by the Participants.  The balances in a Participant’s Account will continue to accrue interest or, if the Committee has so determined, be allocated among the Investment Options in accordance with this Article V until his or her Account balance has been completely distributed.

 

ARTICLE VI                                

 

Distributions

 

6.1 Distributions Upon End of Deferral Period.  With respect to any Deferral Election, payment of a Participant’s Account attributable to such Deferral Election shall be made or commence to be paid on the Payment Commencement Date in the manner set forth in this Article VI.

 

6.2 Distribution Method.  Distribution of amounts credited to a Participant’s Account shall be made in accordance with the Distribution Method elected by the Participant in the applicable Deferral Election.  For purposes of the Plan, “Distribution Method” shall mean, with respect to payments of amounts credited to a Participant’s Account pursuant to a Deferral Election, either (i) a lump sum payment on the Payment Commencement Date or (ii) a number of annual installments (not exceeding 10) or quarterly installments (not exceeding 40) specified by the Participant in his or her Deferral Election, with (A) the first installment to be paid on the Payment Commencement Date and (B) installments subsequent to the first installments to be paid on the first day of the applicable calendar month each quarter or year thereafter; provided, that, if the Deferral Election results in a Deferral Amount of less than $100,000, the Distribution Method for that Deferral Election shall be a lump sum.

 

6.3 Amount of Distribution.

 

(a) Lump Sum Payment.  If a Participant elects a lump sum payment with respect to a Deferral Election, such payment shall consist of cash equal to the value, as of the day preceding distribution, of that portion of the Participant’s Account that is attributable to such Deferral Election.

 

(b) Installment Payments.  If a Participant elects installments with respect to a Deferral Election, the amount payable under each such installment shall be a cash payment equal to the value, as of the day preceding the installment payment, of that portion of the Participant’s Account balance that is attributable to such Deferral Election divided by the number of remaining installment payments to be made (including the installment then being made).

 

6.4 Accelerated Payment in the Event of Death.  Notwithstanding any other provision of the Plan or any Deferral Election, in the event a Participant dies prior to receiving distribution of his or her entire Account balance, payments shall be made to the Beneficiary or, if applicable, to the estate of the Participant, in accordance with the applicable beneficiary designation form.  The Company shall pay to the Beneficiary or, if applicable, to the estate of the Participant within ninety (90) days following date of the Participant’s death a lump sum cash payment equal to the value of his or her entire Account balance as of the day preceding the distribution.

 

6.5 Accelerated Payment Upon a Change in Control.  Notwithstanding any other provision of the Plan or any Deferral Election, upon a Change in Control which constitutes a change in the ownership or effective control of the Company or in the ownership of a substantial portion of the assets of the Company under Code Section 409A and the regulations thereunder, shall pay to each Participant within thirty (30) days following the Change in Control a lump sum cash payment equal to the value of his or her entire Account balance as of the day preceding the distribution.

 

6.6 Distributions Upon an Unforeseeable Emergency­.  Upon written application by a Participant who has experienced an Unforeseeable Emergency, the Committee may distribute to such Participant all or a portion of his or her Account balance in an amount not to exceed the amount determined by the Committee as being reasonably necessary to satisfy the emergency need (which may include amounts necessary to pay any federal, state, local or foreign income taxes or penalties reasonably anticipated as a result of the distribution), after taking into account the extent to which such hardship is or may be relieved through reimbursement or compensation from insurance or otherwise, by liquidation of the Participant’s assets, to the extent the liquidation of such assets would not cause severance financial hardship, or by cessation of current deferrals under the Plan.

 

ARTICLE VII

 

Administration

 

7.1 General Powers and Responsibilities of the Committee.  The Committee shall have full authority to construe and interpret the terms and provisions of the Plan, and to adopt, alter and repeal such administrative rules, guidelines and practices governing the Plan and perform all acts as it shall, from time to time, deem advisable, and otherwise to supervise the administration of the Plan.  The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan, or in any Deferral Election hereunder, in the manner and to the extent it shall deem necessary to effectuate the Plan.  Any decision, interpretation or other action made or taken in good faith by or at the direction of the Committee in connection with the Plan shall be in the sole and absolute discretion of the Committee and shall be final, binding and conclusive.  A Participant shall not participate in any decision involving a request made by him or her or relating in any way to his or her rights, duties, and obligations as a participant in the Plan (unless such decision relates to all Participants generally and in a similar manner).

 

7.2 Liability and Indemnification of the Committee and Authorized Officers.  No member of the Committee or any Authorized Officer shall be liable for any action, failure to act, determination or interpretation made in good faith with respect to this Plan or any transaction hereunder, except for liability arising from his or her own willful misfeasance, gross negligence or reckless disregard of his or her duties.  The Company hereby agrees to indemnify the Committee for all costs and expenses and, to the extent permitted by applicable law, any liability incurred in connection with defending against, responding to, negotiating for the settlement of or otherwise dealing with any claim, cause of action or dispute of any kind arising in connection with any actions in administering this Plan or in authorizing or denying authorization to any transaction hereunder.

 

ARTICLE VIII

 

Amendment or Termination of the Plan

 

The Company, by action of the Board or the Committee, may amend, modify or terminate the Plan in whole or in part at any time and for any reason without prior notice to or consent of any Participant; provided, however, that no amendment, modification or termination of the Plan shall reduce a Participant’s Account balance, or change a previously specified Deferral Election as of the date of such amendment, modification or termination.  In addition, any Authorized Officer may amend Schedule A to add to or remove from Schedule A any Subsidiary.

 

ARTICLE IX                                

 

Claims Procedure

 

The Committee shall have full power and authority to interpret, construe, and administer the Plan, and the Committee’s interpretations and construction hereof, and actions hereunder, including the value, amount, timing, form, or recipient of any payment to be made hereunder, shall be binding and conclusive on all persons for all purposes.  Notwithstanding the foregoing, the determination of a Change in Control event will be objectively determinable and the Committee shall not have discretionary authority to determine whether a Change in Control has occurred.

 

In the event that a claim for a benefit is wholly or partially denied, the Committee shall, within ninety (90) days after receipt of the claim by the Plan, provide the claimant with a written statement setting forth the specific reasons for the adverse determination; reference to the specific Plan provisions on which the determination is based; a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary; and a description of the Plan’s review procedures and time limits applicable to such procedures, including a statement of the claimant’s right to bring a civil action under Section 502(a) of ERISA following an adverse benefit determination on review.

 

The claimant will have sixty (60) days following receipt of an adverse benefit determination within which to appeal the determination.  During such time, the Participant will have the opportunity to submit written comment, documents, records, and other information relating to the claim for benefits.  The claimant will be provided, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the claim for benefits. The review will take into account all comments, documents, records, and other information submitted by the claimant relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination.

 

The Committee will notify the claimant within sixty (60) days after receipt of the claimant's request for review by the Plan.  In the case of an adverse benefit determination, the notification shall set forth, in a manner calculated to be understood by the claimant the specific reason or reasons for the adverse determination; reference to the specific Plan provisions on which the benefit determination is based; a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the claimant's claim for benefits; and a statement describing any voluntary appeal procedures offered by the Plan and the claimant's right to obtain the information about such procedures, and a statement of the claimant's right to bring an action under section 502(a) of ERISA.

 

No member of the Committee shall be liable to any person for any action taken or omitted in connection with the interpretation and administration of the Plan unless attributable to his own willful misconduct or lack of good faith.  Claimants who are members of the Committee shall not participate in any action or determination regarding their own benefits hereunder.

 

ARTICLE X                      

 

Miscellaneous

 

10.1 Participant Rights in the Plan Unfunded.  Any liability of the Plan or the Company to any Participant with respect to any benefit shall be based solely upon the contractual obligations created by the Plan and the Deferral Election forms.  No such obligation shall be deemed to be secured by any pledge or any encumbrance on any property of the Plan or the Company.  The obligations under the Plan shall be unfunded and unsecured promises to pay.  No Participant or Beneficiary shall have any rights under the Plan other than those of a general unsecured creditor of the Company and any Subsidiary for whom a Participant provides services.  The Company may establish a trust for the benefit of Participants hereunder or otherwise segregate, identify or reserve assets for the purpose of paying benefits hereunder; provided, however, that assets segregated, identified or reserved for the purpose of paying benefits pursuant to the Plan shall remain general corporate assets subject to the claim of the creditors of the Company and any Subsidiary for whom a Participant provides services or in the case of assets held in a trust established by the Company, subject to the claims of general creditors to the extent provided in such trust.

 

10.2 Nonassignability.  Neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, transfer, hypothecate, alienate or convey in advance of actual receipt, any amount payable under the Plan.  All amounts payable under the Plan, and all rights to such amounts, are expressly declared to be unassignable and non-transferable, except that, in the case of a Participant’s death, payments under this Plan shall be made in accordance with Section 6.4.

 

10.3 Designation of Beneficiary.  Each Participant at the time he or she completes his or her initial  Deferral Election shall designate a beneficiary (a “Beneficiary”) and a contingent Beneficiary to whom benefits hereunder are to be paid if the Participant dies prior to receiving his or her Account balance.  A Participant may change his or her Beneficiary designations at any time by filing a revised Beneficiary designation form with the Company or such other individual or entity designated by the Committee.  Any Beneficiary designation or change in Beneficiary Designation shall not be effective until it has been delivered to the Company.  If a Participant fails to designate a Beneficiary as provided above, or if all designated Beneficiaries predecease the Participant, the Company shall pay the Account balance to the estate of the Participant.

 

10.4 Incapacity.  In the event benefits become payable under the Plan after a Participant becomes incapacitated, such benefits shall be paid to the Participant’s legal guardian or legal representative.

 

10.5 No Right to Continued Employment.  Nothing in the adoption or implementation of the Plan shall confer on any employee the right to continued employment by the Company or a Subsidiary or affect in any way the right of the Company or a Subsidiary to terminate his employment at any time.  For the purposes of the Plan, any question as to whether and when there has been a termination of a Participant’s employment, and the cause of such termination, shall be determined by the Committee, and its determination shall be final.

 

10.6 Tax Withholding.  The Company shall have the right to withhold from any payment hereunder amounts sufficient to satisfy all Federal, state, local or other withholding tax requirements.

 

10.7 Expenses.  The Company will bear all expenses incurred in administering this Plan and no part thereof shall be charged against any Participant’s Account or any amounts distributable hereunder.

 

10.8 Severability.  If any provision of the Plan shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining provisions hereof; rather, each provision shall be fully severable and the Plan shall be construed and enforced as if said illegal or invalid provision had never been included herein.

 

10.9 Successors.  The terms and conditions of the Plan and each Deferral Election shall inure to the benefit of and bind the Company and the Participants, and their successors, assigns and personal representatives.

 

10.10 Code Section 409A.  The Plan and all deferrals hereunder are intended to comply with, or otherwise be exempt from, Code Section 409A.  The Plan and all deferrals shall be administered, interpreted and construed in a manner consistent with Code Section 409A.  Should any provision of the Plan or any Deferral Election be found not to comply with, or to effectuate exemption from, the provisions of Code Section 409A, such provision shall be modified and given effect (retroactively if necessary), in the sole discretion of the Committee, and without the consent of any affected Participant, in such manner as the Committee determines to be necessary to comply with, or to effectuate exemption from, Code Section 409A. 

 

10.11 Governing Law.  The provisions of the Plan shall be construed and interpreted according to the laws of the Commonwealth of Kentucky without giving effect to conflict of law principles thereof.

 

 

Adopted by the Organization & Compensation Committee:  December 9, 2010

 

  

  

  

Schedule A

 

Participating Subsidiaries

 

American Dental Plan of North Carolina, Inc.

 

American Dental Providers of Arkansas, Inc.

 

American Tax Credit Corporate Georgia Fund III, L.L.C.

 

Availity, L.L.C.

 

CAC - Florida Medical Centers, LLC

 

CareNetwork, Inc.

 

CarePlus Health Plans, Inc.

 

Cariten Health Plan Inc.

 

Cariten Insurance Company

 

CHA HMO, Inc.

 

CHA Service Company

 

CompBenefits Company

 

CompBenefits Corporation

 

CompBenefits Dental, Inc.

 

CompBenefits Direct, Inc.

 

CompBenefits Insurance Company

 

CompBenefits of Alabama, Inc.

 

CompBenefits of Georgia, Inc.

 

Competitive Health Analytics, Inc.

 

Corphealth Provider Link, Inc.

 

Corphealth, Inc.

 

CPHP Holdings, Inc.

 

DefenseWeb Technologies, Inc.

 

Dental Care Plus Management, Corp.

 

DentiCare, Inc.

 

Emphesys Insurance Company

 

Emphesys, Inc.

 

Green Ribbon Health, L.L.C.

 

Health Value Management, Inc.

 

Healthcare E-Commerce Initiative, Inc.

 

HUM INT, LLC

 

HUM-e-FL, Inc.

 

HUM-Holdings International, Inc.

 

Humana Active Outlook, Inc.

 

Humana AdvantageCare Plan, Inc.

 

Humana Benefit Plan of Illinois, Inc.

 

Humana Dental Company

 

Humana Employers Health Plan of Georgia, Inc.

 

Humana Europe, Ltd.

 

Humana Government Network Services, Inc.

 

Humana Health Benefit Plan of Louisiana, Inc.

 

Humana Health Insurance Company of Florida, Inc.

 

Humana Health Plan Interests, Inc.

 

Humana Health Plan of California, Inc.

 

Humana Health Plan of Ohio, Inc.

 

Humana Health Plan of Texas, Inc.

 

Humana Health Plan, Inc.

 

Humana Health Plans of Puerto Rico, Inc.

 

Humana Innovation Enterprises, Inc.

 

Humana Insurance Company

 

Humana Insurance Company of Kentucky

 

Humana Insurance Company of New York

 

Humana Insurance of Puerto Rico, Inc.

 

Humana MarketPOINT of Puerto Rico, Inc.

 

Humana MarketPOINT, Inc

 

Humana Medical Plan of Michigan, Inc.

 

Humana Medical Plan of Pennsylvania, Inc.

 

Humana Medical Plan of Utah, Inc.

 

Humana Medical Plan, Inc.

 

Humana Military Dental Services, Inc.

 

Humana Military Healthcare Services, Inc.

 

Humana Pharmacy, Inc.

 

Humana Veterans Healthcare Services, Inc.

 

Humana-Vitality, LLC

 

Humana WellWorks LLC

 

Humana Wisconsin Health Organization Insurance Corporation

 

HumanaCares, Inc.

 

HumanaDental Insurance Company

 

HumanaDental, Inc.

 

Humco, Inc.

 

Hummingbird Coaching Systems LLC

 

Independent Care Health Plan

 

INFOCUS Technology, Inc.

 

Kanawha HealthCare Solutions, Inc.

 

Kanawha Insurance Company

 

KMG America Corporation

 

Managed Care Indemnity, Inc.

 

PHP Companies, Inc.

 

Preferred Health Partnership of Tennessee, Inc.

 

Preferred Health Partnership, Inc.

 

Preservation on Main, Inc.

 

Sensei, Inc.

 

Texas Dental Plans, Inc.

 

The Dental Concern, Inc.

 

The Dental Concern, Ltd.

 

516-526 West Main Street Condominium Council of Co-Owners, Inc.

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