Document:

EX-10.3 FORM OF RESTRICTED STOCK AWARD AGREEMENT

 

Exhibit 10.3

ARRIS GROUP, INC.

2007 STOCK INCENTIVE PLAN

Restricted Stock Grant Agreement

No. of Shares subject to

Restricted Stock Grant:                     

     THIS
RESTRICTED STOCK GRANT AGREEMENT (this “Agreement”) dated as of the ___ day of
                    , 20___, between ARRIS Group, Inc., a Delaware corporation (the “Company”), and
                                                             (the “Participant”), is made pursuant and subject to the
provisions of the Company’s 2007 Stock Incentive Plan (the “Plan”), a copy of which is attached
hereto. All terms used herein that are defined in the Plan have the same meaning given them in the
Plan. Paragraph 22 of this Agreement provides definitions of additional terms used herein.

     1. Grant of Restricted Stock. Pursuant to the Plan, the Company, on
___, 20___ (the “Date of Grant”), granted to the Participant, subject to the terms and
conditions of the Plan and subject further to the terms and conditions set forth herein, an award
of ___ shares of the common stock of the Company, par value $0.01 per share
(“Shares”). This award hereinafter is referred to as the “Restricted Stock.”

     2. Restrictions. Except as otherwise provided in this Agreement, the shares of
Restricted Stock are nontransferable and subject to a substantial risk of forfeiture.

     3. No Shareholder Rights. Before the shares of Restricted Stock become transferable
and nonforfeitable (“Vested”), the Participant will have none of the rights of a shareholder in the
shares of Restricted Stock, including without limitation, the right to vote the shares of
Restricted Stock or to receive dividends and distributions thereon. Additionally, during such
period, the Participant may not sell, transfer, pledge, exchange, hypothecate or otherwise dispose
of shares of Restricted Stock, which shall remain subject to a substantial risk of forfeiture and
nontransferable as described in this Agreement. Notwithstanding the preceding sentence, the
Participant may designate a beneficiary or beneficiaries to receive, in the event of the
Participant’s death, any rights to which the Participant would be entitled under this Agreement.
Such designation shall be filed with the Company, and may be changed or revoked, all in accordance
with uniform procedures specified by the Committee.

     4. Vesting. Except as provided in paragraph 5 below, the Participant’s interest in
the shares of Restricted Stock shall become Vested at the time or times set forth on Exhibit
A attached hereto. If the Participant ceases to be employed by the Company or any Affiliate
for any reason (except as may be provided on Exhibit A), all shares of Restricted Stock
that are not then Vested shall be forfeited, without any payment whatsoever to the Participant.

     5. Securities Law Restrictions.

     (a) Notwithstanding any other provision of this Agreement, no Shares shall be issued
and no certificates for Shares shall be delivered except in compliance with all applicable
federal and state laws and regulations (including, without limitation, withholding tax
requirements), any listing agreement to which the Company is a party, and the rules of all
domestic stock exchanges on which the Company’s Shares may be listed. The Company shall
have the right to rely on an opinion of its counsel as to such compliance. Any stock
certificate evidencing Shares issued pursuant to this Agreement may bear such legends and
statements as the Committee may deem advisable to assure compliance with federal and state
laws and regulations and to reflect any other restrictions applicable to such shares as the
Committee otherwise deems appropriate. No Shares shall be issued and no certificates for
Shares shall be delivered until the Company has obtained such consent or approval as the
Committee may deem advisable from regulatory bodies having jurisdiction over such matters.

 

 

     (b) Notwithstanding any other provision of this Agreement, the Committee may postpone
the vesting of the Restricted Stock for such time as the Committee in its sole discretion
may deem necessary in order to permit the Company (i) to effect, amend or maintain any
necessary registration of the Plan or the Shares subject to this Agreement under the
securities laws; (ii) to take any action in order to (A) list such Shares on a stock
exchange if Shares are not then listed on such exchange or (B) comply with restrictions or
regulations incident to the maintenance of a public market for its Shares, including any
rules or regulations of any stock exchange on which the Shares are listed; (iii) to
determine that such Shares are exempt from such registration or that no action of the kind
referred to in (ii)(B) above needs to be taken; (iv) to comply with any other applicable
law, including without limitation, securities laws; (v) to comply with any legal or
contractual requirements during any such time the Company or any Affiliate is prohibited
from doing any of such acts under applicable law, including without limitation, during the
course of an investigation of the Company or any Affiliate, or under any contract, loan
agreement or covenant or other agreement to which the Company or any Affiliate is a party or
(vi) to otherwise comply with any prohibition on such acts or payments during any applicable
blackout period; and the Company shall not be obligated by virtue of any terms and
conditions of the Agreement or any provision of the Plan to recognize the grant or vesting
of the Restricted Stock or to issue Shares in violation of the securities laws or the laws
of any government having jurisdiction thereof or any of the provisions hereof. Any such
postponement shall not extend the term of the Restricted Stock and neither the Company nor
its directors and officers nor the Committee shall have any obligation or liability to the
Participant or to any other person with respect to Shares as to which this award shall lapse
because of such postponement.

     6. Stock Power. With respect to any shares of Restricted Stock forfeited under this
Agreement, the Participant does hereby irrevocably constitute and appoint Lawrence A. Margolis or
any successor Secretary of the Company (the “Secretary”) as his or her attorney to transfer the
forfeited shares on the books of the Company with full power of substitution in the premises. The
Secretary shall use the authority granted in this paragraph to cancel any shares of Restricted
Stock that are forfeited under this Agreement.

     7. Additional Restrictions. The Participant can only become Vested in the shares of
Restricted Stock during the Participant’s lifetime. Neither this grant of Restricted Stock nor the
Participant’s right or interest in any shares of Restricted Stock shall be liable for, or subject
to, any lien, obligation or liability of the Participant.

     8. Custody of Certificates. The Company shall retain custody of stock certificates
evidencing the shares of Restricted Stock. Within ten (10) days after shares of Restricted Stock
become Vested, the Company will deliver to the Participant the stock certificates evidencing the
shares of Restricted Stock that have become Vested.

     9. Non-Competition and Non-Solicitation Agreement. By receiving the Restricted Stock
and signing this Agreement, the Participant agrees as follows:

     (a) During employment and for a period of four (4) months from the date of termination
of the Participant’s employment with the Company and its Affiliates for any reason
whatsoever, the Participant will not, directly or indirectly, compete with the Company or
any Affiliate by providing to any entity that is in a Competing Business services
substantially similar to the services provided by the Participant at the time of
termination.

     (b) During employment and for a period of two (2) years after the termination of the
Participant’s employment with the Company and its Affiliates for any reason whatsoever, the
Participant will not, on his own behalf or on behalf of any other person, partnership,
association, corporation or other entity, solicit or in any manner attempt to influence or
induce any employee of the Company or its Affiliates (known by the Participant to be such)
to leave the employment of the Company or its Affiliates, nor shall the Participant use or
disclose to any person, partnership, association, corporation or other entity any
information obtained while an employee of the Company or any Affiliate concerning the name
and addresses of the Company’s or any Affiliate’s employees.

2

 

If the Participant violates any of the provisions of (a) or (b) of this paragraph 9, the
Participant shall pay the Company any profits the Participant received as a result of the Vesting
of the Restricted Stock, provided that the Restricted Stock became Vested less than six months
prior to termination of the Participant’s employment.

     10. Agreement to Terms of the Plan and Agreement. The Participant has received a copy
of the Plan, has read and understands the terms of the Plan and this Agreement, and agrees to be
bound by their terms and conditions.

     11. Fractional Shares. Fractional Shares shall not be issuable hereunder, and when
any provision hereof may entitle the Participant to a fractional Share, such fractional Share shall
be rounded up to the nearest whole Share.

     12. Change in Capital Structure. The terms of the Restricted Stock shall be adjusted
in accordance with the terms and conditions of the Plan as the Committee determines is equitably
required in the event the Company effects one or more stock dividends, subdivisions or
consolidations of Shares, reorganizations, recapitalizations, spin-offs or other similar changes in
capitalization.

     13. Notice. Any notice or other communication given pursuant to this Agreement, or in
any way with respect to the Restricted Stock, shall be in writing and shall be personally delivered
or mailed by United States registered or certified mail, postage prepaid, return receipt requested,
to the following addresses:

	 	 	 	 	 
	If to the Company:

	 	ARRIS Group, Inc.	 	 
	 

	 	3871 Lakefield Drive	 	 
	 

	 	Suwanee, Georgia 30024	 	 
	 

	 	Attn: Larry Margolis, Executive Vice President	 	 
	 
	 	 	 	 
	If to the Participant:
	 	 	 	 
	 

	 	 

	 	 
	 

	 	 

	 	 
	 

	 	 	 	 

     14. No Right to Continued Employment. Neither this Agreement nor the Restricted Stock
confers upon the Participant any right with respect to continued employment by the Company or any
Affiliate, nor shall it interfere in any way with the right of the Company or any Affiliate to
terminate the Participant’s employment at any time without assigning a reason therefor.

     15. Impact on Other Plans and Arrangements. The determination of whether the value of
the Restricted Stock will be included or excluded in calculating any severance, resignation,
redundancy, end of service payments, bonuses or long-service awards, any payments or benefits under
any pension or retirement plans or any other compensation or benefits will be based on the terms of
the applicable plan, program or arrangement. If such plan, program or arrangement would not
otherwise require the inclusion of Restricted Stock in such calculation, then the Restricted Stock
shall be excluded from such calculation.

     16. Binding Effect. Subject to the limitations stated above and in the Plan, this
Agreement shall be binding upon and inure to the benefit of the legatees, distributees, transferees
and personal representatives of the Participant and the successors of the Company.

     17. Conflicts. In the event of any conflict between the provisions of the Plan and
the provisions of this Agreement, the provisions of the Plan shall govern. All references herein
to the Plan shall mean the Plan as in effect on the date hereof.

     18. Governing Law. This Agreement shall be governed by the laws of the State of
Delaware, except to the extent federal law applies.

3

 

     19. Tax Consequences and Section 409A. The Participant acknowledges that there may be
tax consequences upon the vesting of the Restricted Stock and that the Participant should consult a
tax advisor. The Restricted Stock is intended to be exempt from the requirements of Section 409A
of the Code as a short-term deferral. Notwithstanding the preceding, the Company and its
Affiliates shall not be liable to the Participant or any other person if the Internal Revenue
Service or any court or other authority having jurisdiction over such matter determines for any
reason that this Agreement is subject to taxes, penalties or interest as a result of failing to
comply with Section 409A of the Code.

     20. Withholding Obligations. At the applicable time, the Participant shall remit to
the Company amounts sufficient to satisfy any federal, state or local withholding tax requirements
before the delivery of any certificate or certificates for such shares of Restricted Stock by
making payment in cash or cash equivalent or such other form of payment acceptable to the Committee
or shall arrange for the withholding from other payments due the Participant of the applicable
amounts.

     21. Amendment or Termination. This Agreement may be amended or terminated at any time
by the mutual agreement and written consent of the Participant and the Company, but only to the
extent permitted under the Plan.

     22. Definitions. For purposes of this Agreement, the following words shall have the
meanings set forth below:

     (a) “Affiliate” means any entity that is part of a controlled group of
corporations or is under common control with the Company within the meaning of Code Sections
1563(a), 414(b) or 414(c), except that, in making any such determination, 50 percent shall
be substituted for 80 percent under such Code Sections and the related regulations.

     (b) “Code” means the Internal Revenue Code of 1986, as amended.

     (c) “Competing Business” means any business that engages, in whole or in part,
in the equipment and supply for broadband communications systems in the United States.

     (d) “Disabled” means fully and permanently disabled within the meaning of the
Company’s group long term disability plan then in effect. The Committee, in its sole
discretion, shall determine whether the Participant is Disabled for purposes of this
Agreement.

     IN WITNESS WHEREOF, the Company has caused this Agreement to be signed by a duly authorized
officer, and the Participant has affixed his signature hereto.

	 	 	 	 	 	 	 
	 	 	COMPANY:	 	 
	 
	 	 	 	 	 	 
	 	 	ARRIS GROUP, INC.	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	PARTICIPANT:	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 
	 	 	Participant	 	 

4

 

EXHIBIT A

Vesting Provisions

Except as provided in paragraph 5 of the Agreement, the Participant’s interest in the shares of
Restricted Stock shall become Vested as set forth below. For purposes of the Agreement, including
the vesting provisions in this Exhibit A, the Participant will be deemed to have terminated
employment as of his or her last day of active work for the Company and its Affiliates; provided,
however, that the Participant shall be deemed to be actively at work during any period the
Participant is on approved paid medical leave or during the protected reemployment period
applicable to military leave.

I. General Vesting

Service-Based Vesting

[ ] The Restricted Stock shall become Vested with respect to [thirty-three] percent ([33]%) of
the shares of Restricted Stock on the [first and second] annual anniversaries of the Date of Grant
and then with respect to the remaining [thirty-four] percent ([34]%) of the shares of Restricted
Stock on the [third] annual anniversary of the Date of Grant, provided the Participant is still
employed by the Company or any Affiliate at each such time.

Performance and Service-Based Vesting

[ ] The Restricted Stock shall become Vested with respect to the percentage of shares of
Restricted Stock set forth below with respect to each applicable vesting date, provided that, at
each such time, (a) the Participant is still employed by the Company or any Affiliate and (b) the
performance measures set forth below have been met. Notwithstanding the foregoing, if the
applicable performance measures are not met at a specified vesting date, but the cumulative
performance measures are met at a subsequent vesting date, then the Restricted Stock shall become
Vested with respect to that percentage of shares specified for the applicable vesting date plus the
percentage of shares for prior vesting dates that did not become Vested solely because of a failure
to meet the performance measures for the prior vesting dates.

	 	 	 	 	 	 	 
	 	 	 	 	Percentage of Shares 	 	Cumulative
	Vesting Date	 	Performance Target	 	Vested	 	Performance Target
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

II. Accelerated Vesting

Accelerated Vesting on Death

[ ] Notwithstanding the foregoing, one-hundred percent (100%) of the shares of Restricted Stock
shall become Vested if the Participant dies or becomes Disabled while still employed by the Company
or any Affiliate.

Accelerated Vesting on Disability

[ ] Notwithstanding the foregoing, one-hundred percent (100%) of the shares of Restricted Stock
shall become Vested if the Participant dies or becomes Disabled while still employed by the Company
or any Affiliate.

5

 

Accelerated Vesting On Retirement

[ ] Notwithstanding the foregoing, one-hundred percent (100%) of the shares of Restricted Stock
shall become Vested if the Participant voluntarily terminates employment with the Company and its
Affiliates after reaching age ___.

6Ex-10.1

 

Exhibit 10.1

HEALTHSPRING, INC.

NON-QUALIFIED STOCK OPTION AGREEMENT

     THIS NON-QUALIFIED STOCK OPTION AGREEMENT (this “Agreement”) is made and entered into as of
this ___ day of ___, 2007 (the “Grant Date”), by and between HealthSpring, Inc., a
Delaware corporation (together with its Subsidiaries and Affiliates, the “Company”), and
___ (the “Optionee”). Capitalized terms not otherwise defined herein shall have the
meaning ascribed to such terms in the HealthSpring, Inc. 2006 Equity Incentive Plan (the “Plan”).

     WHEREAS, the Company has adopted the Plan, which permits the issuance of stock options for the
purchase of shares of the common stock, par value $0.01 per share, of the Company (the “Shares”);
and

     WHEREAS, the Company desires to afford the Optionee an opportunity to purchase Shares as
hereinafter provided in accordance with the provisions of the Plan;

     NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto, intending to be legally bound hereby, agree as follows:

     1. Grant of Option.

          (a) The Company grants as of the date of this Agreement the right and option (the “Option”) to
purchase ___ Shares, in whole or in part (the “Option Stock”), at an exercise price of
___ and No/100 Dollars ($___) per Share, on the terms and conditions
set forth in this Agreement and subject to all provisions of the Plan. The Optionee, holder or
beneficiary of the Option shall not have any of the rights of a shareholder with respect to the
Option Stock until such person has become a holder of such Shares by the due exercise of the Option
and payment of the Option Payment (as defined in Section 3 below) in accordance with this
Agreement.

          (b) The Option shall be a non-qualified stock option. In order to provide the Company with
the opportunity to claim the benefit of any income tax deduction which may be available to it upon
the exercise of the Option, and in order to comply with all applicable federal or state tax laws or
regulations, the Company may take such action as it deems appropriate to ensure that, if necessary,
all applicable federal, state or other taxes are withheld or collected from the Optionee.

     2. Exercise of Option. Except as otherwise provided herein, your Option shall become
vested and exercisable on each anniversary of the Grant Date with respect to twenty-five percent
(25%) of the Shares if and only if you have been continuously employed by the Company or any of its
Subsidiaries from the date of this Agreement through and including
such dates. Notwithstanding the
above, each outstanding unvested Option shall vest and become exercisable in full in the event (a)
of Optionee’s death, Disability or Normal Retirement (as defined below) or (b) that, within one (1)
year following a Change in Control, Optionee’s

 

 

employment with the Company (or its successor) is terminated by (i) Optionee for Good Reason
(as defined below), or (ii) the Company for any reason other than for Cause. If Optionee elects
Early Retirement (as defined below), this Option shall vest as though Optionee had elected Normal
Retirement, provided that the Optionee’s Early Retirement is with the consent of the Committee.
“Early Retirement” means retirement, for purposes of the Plan with the express consent of the
Company at or before the time of such retirement, from active employment with the Company prior to
age sixty-five (65), in accordance with any applicable early retirement policy of the Company then
in effect. “Normal Retirement” means retirement from active employment with the Company on or
after age sixty-five (65). For purposes of this Agreement, “Disabled” means that the Optionee is
permanently unable to perform the essential duties of the Optionee’s occupation. For purposes of
this Agreement, “Good Reason” means (i) a material reduction in Optionee’s responsibilities, which
is not cured within 20 days after written notice thereof to the Company (or its successor); (ii)
any reduction in Optionee’s annual base salary as in effect immediately prior to a Change in
Control; or (iii) the relocation by the Company of the office at which the Optionee is to perform
the majority of his or her duties following a Change in Control to a location more than 45 miles
from the office at which the Optionee worked immediately prior to the Change in Control.

     3. Manner of Exercise. The Option may be exercised in whole or in part at any time
within the period permitted hereunder for the exercise of the Option, with respect to whole Shares
only, by serving written notice of intent to exercise the Option delivered to the Company at its
principal office (or to the Company’s designated agent), stating the number of Shares to be
purchased, the person or persons in whose name the Shares are to be registered and each such
person’s address and social security number. Such notice shall not be effective unless accompanied
by payment in full of the Option Price for the number of Shares with respect to which the Option is
then being exercised (the “Option Payment”) and cash equal to the required withholding taxes as set
forth by Internal Revenue Service and applicable State tax guidelines for the employer’s minimum
statutory withholding. The Option Payment shall be made in cash or cash equivalents or in whole
Shares that have been held by the Optionee for at least six (6) months prior to the date of
exercise valued at the Shares’ Fair Market Value on the date of exercise (or next succeeding
trading date if the date of exercise is not a trading date) or the actual sales price of such
Shares, together with any applicable withholding taxes, or by a combination of such cash (or cash
equivalents) and Shares. The Optionee shall not be entitled to tender Shares pursuant to
successive, substantially simultaneous exercises of the Option or any other stock option of the
Company. Subject to applicable securities laws, the Optionee may also exercise the Option by
delivering a notice of exercise of the Option and by simultaneously selling the Shares of Option
Stock thereby acquired pursuant to a brokerage or similar agreement approved in advance by proper
officers of the Company, using the proceeds of such sale as payment of the Option Payment, together
with any applicable withholding taxes. For purposes of this Agreement, “Fair Market Value” means
the closing sales price of the Shares on the New York Stock Exchange or the actual sales price of
such Shares.

     4. Termination of Option. The Option will expire ten (10) years from the date of
grant of the Option (the “Term”) with respect to any then unexercised portion thereof, unless
terminated earlier as set forth below:

 

 

          (a) Termination by Death. If the Optionee’s employment by the Company terminates by
reason of death, or if the Optionee dies within three (3) months after termination of such
employment for any reason other than Cause, this Option may thereafter be exercised, to the extent
the Option was exercisable at the time of such termination, by the legal representative of the
estate or by the legatee of the Optionee under the will of the Optionee, for a period of one (1)
year from the date of death or until the expiration of the Term of the Option, whichever period is
the shorter.

          (b) Termination by Reason of Disability. If the Optionee’s employment by the Company
terminates by reason of Disability, this Option may thereafter be exercised, to the extent the
Option was exercisable at the time of such termination, by the Optionee or personal representative
or guardian of the Optionee, as applicable, for a period of three (3) years from the date of such
termination of employment or until the expiration of the Term of the Option, whichever period is
the shorter.

          (c) Termination by Normal Retirement or Early Retirement. If Optionee’s employment by
the Company terminates by reason of Normal Retirement or Early Retirement, this Option may
thereafter be exercised by the Optionee, to the extent the Option was exercisable at the time of
such termination, for a period of three (3) years from the date of such termination of employment
or until the expiration of the Term of the Option, whichever period is the shorter.

          (d) Termination for Cause. If the Optionee’s employment by the Company is terminated
for Cause, this Option shall terminate immediately and become void and of no effect.

          (e) Other Termination. If the Optionee’s employment by the Company is terminated for
any reason other than for Cause, death, Disability or Normal Retirement or Early Retirement, this
Option may be exercised, to the extent the Option was exercisable at the time of such termination
(after giving effect to any acceleration of vesting provided for in Section 2 above), by the
Optionee for a period of three (3) months from the date of such termination of employment or the
expiration of the Term of the Option, whichever period is the shorter.

     5. No Right to Continued Employment. The grant of the Option shall not be construed
as giving Optionee the right to be retained in the employ of the Company, and the Company may at
any time dismiss Optionee from employment, free from any liability or any claim under the Plan.

     6. Adjustment to Option Stock. The Committee shall make equitable and appropriate
adjustments in the terms and conditions of, and the criteria included in, this Option in
recognition of unusual or nonrecurring events (including, without limitation, the events described
in Section 4.2 of the Plan) affecting the Company or the financial statements of the
Company or of changes in applicable laws, regulations or accounting principles in accordance with
the Plan.

     7. Amendments to Option. Subject to the restrictions contained in the Plan, the
Committee may waive any conditions or rights under, amend any terms of, or alter, suspend,
discontinue, cancel or terminate, the Option, prospectively or retroactively; provided that any
such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that

 

 

would adversely affect the rights of the Optionee or any holder or beneficiary of the Option
shall not to that extent be effective without the consent of the Optionee, holder or beneficiary
affected.

     8. Limited Transferability. During the Optionee’s lifetime, this Option can be
exercised only by the Optionee. This Option may not be assigned, alienated, pledged, attached,
sold or otherwise transferred or encumbered by Optionee other than by will or the laws of descent
and distribution. Any attempt to otherwise transfer this Option shall be void. No transfer of
this Option by the Optionee by will or by laws of descent and distribution shall be effective to
bind the Company unless the Company shall have been furnished with written notice thereof and an
authenticated copy of the will and/or such other evidence as the Committee may deem necessary or
appropriate to establish the validity of the transfer.

     9. Reservation of Shares. At all times during the term of this Option, the Company
shall use its best efforts to reserve and keep available such number of Shares as shall be
sufficient to satisfy the requirements of this Agreement.

     10. Plan Governs. The Optionee hereby acknowledges receipt of a copy of the Plan and
agrees to be bound by all the terms and provisions thereof. The terms of this Agreement are
governed by the terms of the Plan, and in the case of any inconsistency between the terms of this
Agreement and the terms of the Plan, the terms of the Plan shall govern.

     11. Severability. If any provision of this Agreement is, or becomes, or is deemed to
be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or the Award, or
would disqualify the Plan or Award under any laws 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 stricken as to such jurisdiction,
Person or Award, and the remainder of the Plan and Award shall remain in full force and effect.

     12. Notices. All notices required to be given under this Option shall be deemed to be
received if delivered or mailed as provided for herein to the parties at the following addresses,
or to such other address as either party may provide in writing from time to time.

	 	 	 
	     To the Company:

	 	HealthSpring, Inc.
	 

	 	9009 Carothers Parkway
	 

	 	Suite 501
	 

	 	Franklin, Tennessee 37067
	 

	 	Attn: Corporate Secretary
	 
	 	 
	     To the Optionee:

	 	The address then maintained with respect to the Optionee in the
Company’s records.

     13. Governing Law. The validity, construction and effect of this Agreement shall be
determined in accordance with the laws of the State of Delaware without giving effect to conflicts
of laws principles.

 

 

     14. Resolution of Disputes. Any dispute or disagreement which may arise under, or as
a result of, or in any way related to, the interpretation, construction or application of this
Agreement shall be determined by the Committee. Any determination made hereunder shall be final,
binding and conclusive on the Optionee and the Company for all purposes.

     15. Successors in Interest. This Agreement shall inure to the benefit of and be
binding upon any successor to the Company. This Agreement shall inure to the benefit of the
Optionee’s legal representative and assignees. All obligations imposed upon the Optionee and all
rights granted to the Company under this Agreement shall be binding upon the Optionee’s heirs,
executors, administrators, successors and assignees.

     IN WITNESS WHEREOF, the parties have caused this Non-Qualified Stock Option Agreement to be
duly executed effective as of the day and year first above written.

	 	 	 	 	 
	 	HEALTHSPRING, INC.

 	 
	 	By:  	 	 
	 	 	 	 
	 	 	 	 
	 

	 	 	 	 	 
	 	OPTIONEE:

 	 
	 	 	 
	 	Signature

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