Document:

ex10oo-annualiso3yr33

    HUMANA INC.  INCENTIVE STOCK OPTION AGREEMENT  AND AGREEMENT NOT TO COMPETE OR SOLICIT  UNDER THE AMENDED AND RESTATED STOCK INCENTIVE PLAN    THIS AGREEMENT (“Agreement”) made as of <award_date> (the “Date of Grant”) by and between  HUMANA INC., a corporation duly organized and existing under the laws of the State of Delaware (hereinafter referred  to as the "Company"), and <first_name> <middle_name> <last_name>, an employee of the Company (hereinafter referred  to as "Optionee").   WITNESSETH  WHEREAS, the Amended and Restated Humana Inc. Stock Incentive Plan (the "Plan"), was approved by the  Company’s Board of Directors and stockholders; and  WHEREAS, the Company desires to grant to Optionee an option to purchase shares of common stock of the  Company in accordance with the Plan;  NOW, THEREFORE, in consideration of the premises and mutual covenants hereinafter set forth, and other good  and valuable consideration, the Company and Optionee agree as follows:  I. OPTION GRANT  A. Grant of Option.  The Company hereby grants to Optionee, as a matter of separate inducement and  agreement and not in lieu of salary or other compensation for services, an Incentive Stock Option to purchase  <shares_awarded> shares of the $.16-2/3 par value common stock of the Company ("Common Stock") at the purchase  price of $<award_price> per share (the "Option") exercisable on the terms and conditions set forth herein.   B. Term.  The term of the Option shall commence upon the Date of Grant, and shall expire on <expire_Date>  (the “Expiration Date”).   C. Vesting of Option.  Except as otherwise set forth herein, the Option shall be exercisable by Optionee or  his/her personal representative on and after the first anniversary of the Date of Grant in cumulative annual installments of  one-third of the number of Shares covered hereby.  D. Effect of Termination of Employment on Option. If the employment of Optionee by the Company is  terminated for Cause, all the rights of Optionee under this Agreement, whether or not exercisable, shall terminate  immediately.  If the employment of Optionee is terminated for any reason other than for Cause, the Option shall vest and  remain exercisable in accordance with Sections 12 and 13 of the Plan, but in no event beyond the Expiration Date.  E. Exercise of Option.  1.  The Option shall be exercisable only by written notice to the Secretary of the Company at the Company's  principal executive offices, or through the online procedure to such broker-dealer as designated by the Company, Optionee  or his/her legal representative as herein provided.  Such notice shall state the number of Shares with respect to which the  Option is being exercised and shall be signed, or authorized electronically, by Optionee or his/her legal representative, as  applicable.  

 

  - 2 -  2.  The purchase price shall be paid as follows: (i) In full in cash upon the exercise of the Option; (ii) By  tendering to the Company Shares owned by Optionee prior to the date of exercise and having an aggregate Fair Market  Value equal to the cash exercise price applicable to the Option; or (iii) A combination of I(E)(2)(i) and I(E)(2)(ii) above.  3.  Federal, state and local income and employment taxes and other amounts as may be required by law to be  collected by the Company (“Withholding Taxes”) in connection with the exercise of the Option shall be paid pursuant to  the Plan by Optionee prior to the delivery of any Common Stock under this Agreement.  The Company shall, at Optionee’s  election, withhold delivery of a number of Shares with a Fair Market Value as of the exercise date equal to the Withholding  Taxes in satisfaction of Optionee’s obligations hereunder.  II. AGREEMENT NOT TO COMPETE AND AGREEMENT NOT TO SOLICIT.    Optionee agrees and understands that the Company’s business is a profit-generating business operating in a highly  competitive business environment and that the Company has a legitimate business interest in, among other things, its  confidential information and trade secrets (including as protected in other agreements and policies between the Company  and Optionee) that it is providing Optionee, and in the significant time, money, training, team building and other efforts it  expends to develop Optionee’s skills to assist in performing Optionee’s duties for the Company, including with respect to  establishing, developing and maintaining the goodwill and business relationships with Protected Relationships (defined  below) and employees, each of which Optionee agrees are valuable assets of the Company to which it has devoted substantial  resources. Optionee acknowledges that the grant Optionee is receiving under the Plan is a meaningful way that the Company  entrusts Optionee with its goodwill and aligns Optionee with the Company objective of increasing the value of the  Company’s business.  Accordingly, Optionee acknowledges the importance of protecting the value of the Company’s  business through, among other things, covenants to restrict Optionee from engaging in activities that would adversely affect  the value of the Company and its goodwill.  A. Agreement Not to Compete.   1.  Optionee agrees that during the Restricted Period (defined below) and within the Restricted Geographic  Area (defined below), Optionee will not, directly or indirectly, perform or engage in Competitive Product or Services  (defined below) with a Competitor (defined below). Optionee may not accept employment with a Competitor (defined  below) unless the Competitor’s business is diversified and the Company receives Written Assurances from the Competitor  and Optionee that are satisfactory to the Company that Optionee, during the Restricted Period, will not work on or provide  Competitive Products or Services or otherwise use or disclose the Company’s confidential information or trade secrets.    2.  For Section II(A), such “Written Assurances” must contain a written statement detailing the identity of the  Competitor and the nature of the services that Optionee will provide to the Competitor with sufficient detail to allow the  Company to independently assess whether Optionee is or will be in violation of the Agreement.  The Company must also  receive such “Written Assurances” at least ten business days before Optionee commences employment for the Competitor.   Such “Written Assurances” shall be delivered to the Company’s Chief Human Resource Officer or his/her authorized  delegate.  3.  Nothing in this Agreement is intended to prevent Optionee from investing Optionee’s funds in securities of  a person engaged in a business that is directly competitive with the Company if the securities of such a person are listed for  trading on a registered securities exchange or actively traded in an over-the-counter market and Optionee’s holdings  

 

  - 3 -  represent less than one percent (1%) of the total number of outstanding shares or principal amount of the securities of such  a person.   B.  Agreement Not to Solicit Protected Relationships. During the Restricted Period (defined below) and in  connection with a Competitive Product or Service (defined below), Optionee shall not, individually or jointly with others,  directly or indirectly, or by assisting others, (1) Solicit (defined below) any Protected Relationships (defined below); or (2)  Solicit any Protected Relationships to terminate a relationship with the Company, its subsidiaries, and/or its affiliates, reduce  the volume of their business dealings with the Company, its subsidiaries, and/or its affiliates, or to otherwise cease to accept  services or products from the Company, its subsidiaries, and/or its affiliates.   C. Agreement Not to Solicit Employees. During the Restricted Period, Optionee shall not, individually or  jointly with others, directly or indirectly, or by assisting others, (1) Solicit any employees or former employees of the  Company, its subsidiaries, and/or its affiliates with whom Optionee worked, had business contact, or about which Optionee  gained non-public or confidential information (“Employees or Former Employees”); (2) contact or communicate with  Employees or Former Employees for the purpose of Soliciting them to terminate their employment or find employment or  work with another person or entity; (3) provide, share, or pass along to any person or entity the name, contact and/or  background information about any Employees or Former Employees or provide references or any other information about  them; (4) provide, share, or pass along to Employees or Former Employees any information regarding potential jobs or  entities or persons to work for, including but not limited to job openings, job postings, or the names or contact information  of individuals or companies hiring people or accepting job applications; and/or (5) offer employment or work to any  Employees or Former Employees.  For purposes of this covenant, “Former Employees” shall refer to employees who are  not employed by the Company, its subsidiaries, and/or its affiliates at the time of the attempted recruiting or hiring, but were  employed by, or working for the Company, its subsidiaries, and/or its affiliates in the three months prior to the time of the  attempted recruiting or hiring and/or interference.  D. Effect of Termination of Employment other than a Change in Control Termination on Agreements  Not to Compete and Not to Solicit.  1. In the event Optionee voluntarily resigns or is discharged by the Company with Cause at any time prior to  the vesting of the Options, the prohibitions on Optionee set forth in Sections II(A), II(B) and II(C) shall remain in full force  and effect.     2.  In the event Optionee is discharged by the Company other than with Cause, including in connection with a  Workforce Reduction or Position Elimination, or certain divestiture related terminations, prior to the vesting of the Options,  the prohibitions set forth in Section II(A) shall remain in full force and effect during the period of time following Optionee’s  termination equal to the lesser of (x) the Restricted Period or (y) the period of time during which Optionee is deemed to be  entitled to severance measured by the sum of (i) the number of weeks Optionee is entitled to severance under the Company’s  applicable severance policy, plus (ii) a number of weeks equal to (A) the value of the Options that would remain outstanding  subject to the achievement of the performance goals (or the value of the acceleration, if any, of the vesting of any Options  as a result of Optionee’s termination under this Agreement or the Plan that would otherwise have been forfeited), with such  value measured by multiplying the number of Shares underlying the Options, assuming target performance has been  achieved (or by the number of Shares underlying the Options that become vested as a result of the acceleration of vesting,  

 

  - 4 -  if any), by the per Share Fair Market Value on the Last Day, divided by (B) Optionee’s then-current weekly base salary,  plus (iii) any additional period that the Company determines to provide severance to Optionee, in its discretion.   3. In the event Optionee is discharged by the Company other than with Cause prior to vesting herein of the  Options, the prohibitions set forth in Sections II(B) and II(C) above shall remain in full force and effect.  4. After the vesting of the Options, the prohibitions on Optionee set forth herein shall remain in full force and  effect, except as otherwise provided in Section II(E).  E.  Effect of a Change in Control Termination on Agreements Not to Compete and Not to Solicit.  1. Notwithstanding anything set forth in Section II(D), in the event of a Change in Control Termination, the  prohibitions on Optionee set forth in Section II(A) shall remain in full force and effect only if the acquirer or successor to  the Company following the Change in Control shall, solely at its option, pay, within thirty (30) days following the Last Day  (with the Company or its successor), to Optionee the Non-Compete Payment.  Notwithstanding any previous agreement  between Optionee and the Company relating to the prohibitions on Optionee set forth in Section II(A), the “Non-Compete  Payment” shall be an amount at least equal to Optionee’s then current annual base salary.  Such amount shall be in addition  to any other amounts paid or payable to Optionee with respect to other severance plans or policies maintained by the  Company.  For the avoidance of doubt, the provisions of this Section II(E) shall supersede any agreement between Optionee  and the Company relating to the prohibitions on Optionee set forth in Section II(A), with the exception of any similar  agreement contained in (i) any employment agreement between Optionee and the Company, (ii) any agreement between  Optionee and the Company not related to the employment of Optionee by the Company, (iii) any severance plan or policy  of the Company and (iv) any change in control severance plan or policy of the Company.  2. In the event of a Change in Control Termination, the prohibitions on Optionee set forth in Sections II(B)  and II(C) shall remain in full force and effect.  F.  Violation of Restrictive Covenants.  This subsection sets forth the circumstances under which Optionee  shall forfeit all or a portion of any vested or unvested Options held by Optionee without payment and/or be required to repay  or otherwise reimburse the Company for the gain or value realized in respect of all or a portion of any exercised Options.    1.  If Optionee violates any provisions of Section II of this Agreement (a “Forfeiture Event”), Optionee shall  immediately forfeit as of the date that the violation first occurs all unexercised Options described above in Section I(A)  (whether vested or unvested) without payment.  This provision does not alter the circumstances for forfeiture of unexercised  Options as described in Section I(D) of this Agreement.  2. If Optionee has exercised any of the Options prior to the Forfeiture Event, then for any Option that has been  exercised during the 12 month period prior to the Forfeiture Event or at any time after the Forfeiture event, Optionee shall  be required to repay or otherwise reimburse the Company, immediately upon demand, an amount in Cash or Humana Inc.  common stock equal to the amount described below.   To the extent that (i) any Shares related to exercised Options have been sold or transferred, the amount shall be the  aggregate gross proceeds realized by Optionee from such sale or transfer of the net Shares acquired after payment of the  exercise price and any applicable taxes (the “Net Shares”) (or, in the case of any disposition or transfer of the Net Shares  for less than the Fair Market Value of such Net Shares, Optionee will repay or reimburse to the Company an amount equal  

 

  - 5 -  to the Fair Market Value of such Net Shares) or (ii) if the Net Shares have not been sold at the time Company demand is  made, the amount shall be the aggregate Fair Market Value of the Net Shares on the date the Options were exercised.    3. The relief provided in this Section II(F) of the Agreement does not constitute the Company’s exclusive  remedy for the Optionee’s violation of any of the provisions of Section II of the Agreement.  As any forfeiture and repayment  provisions are not adequate remedies at law, including because they do not repair the irreparable harm the Company will  suffer from Optionee’s breaches of this Agreement, the Company may seek any additional legal or equitable remedy,  including injunctive relief, for such violations.  The provisions in this section are essential economic conditions to the  Company’s grant of Options.  By receiving the Options, Optionee agrees upon Optionee’s violation of Section II of this  Agreement that the Company may, subject to applicable state law, deduct from any amounts the Company owes Optionee  following the Last Day any amounts Optionee owes the Company under Section II(F).   4. The provisions under this Section II(F) of the Agreement and any amounts repayable by Optionee hereunder  are intended to be in addition to any rights to repayment the Company may have under Section 304 of the Sarbanes-Oxley  Act of 2002 and other applicable law.   5. In addition, if Optionee realizes any amounts in excess of what he or she should have received under the  terms of any Options for any reason due to mistake in calculations or other administrative error, then Optionee shall be  required to repay or reimburse any such excess amounts to the Company within thirty (30) days following the Company’s  written demand for repayment.  G. Governing Law. Notwithstanding any other provision herein to the contrary, the provisions of this Section  II of the Agreement shall be governed by, and construed in accordance with, the laws of the Commonwealth of Kentucky  without regard to its conflicts or choice of laws rules or principles that might otherwise refer construction or interpretation  of this Section II to the substantive law of another jurisdiction.   H. Injunctive Relief; Invalidity of Any Provision.  Optionee acknowledges that (1) his or her services to the  Company, its subsidiaries, and/or its affiliates are of a special, unique and extraordinary character, (2) his or her position  with the Company, its subsidiaries, and/or its affiliates will place him or her in a position of confidence and trust with respect  to the operations of the Company, its subsidiaries, and/or its affiliates, (3) he or she will benefit from continued employment  with the Company, its subsidiaries, and/or its affiliates, (4) the nature and periods of restrictions imposed by the covenants  contained in this Section II are fair, reasonable and necessary to protect the Company, its subsidiaries, and/or its affiliates,  (5) the Company, its subsidiaries, and/or its affiliates would sustain immediate and irreparable loss and damage from  Optionee’s wrongful use or disclosure of the Company, its subsidiaries, and/or its affiliates’ confidential information or  trade secrets and from Optionee’s unfair competition or wrongful Solicitation of Protected Relationships, including with  respect to the impairment of the Company’s, its subsidiaries’, and/or its affiliates’ goodwill in its Protected Relationships,  and (6) for the same reason, the Company’s remedy at law (including under any forfeiture under Section II(F) above) for  any such breach will be inadequate.  Accordingly, Optionee agrees and consents that the Company, in addition to the  recovery of damages and all other remedies available to it, at law or in equity, shall be entitled to seek temporary,  preliminary, and permanent injunctions to prevent and/or halt a breach or threatened breach by Optionee of any covenant  contained in Section II hereof.  If any part or provision of this Section II is determined by a court of competent jurisdiction  to be invalid in whole or in part, it shall be deemed to have been amended (and the court is authorized to amend), whether  

 

  - 6 -  as to time, area covered or otherwise, as and to the extent required for its validity under applicable law, and as so amended,  shall be enforceable.  The parties further agree to execute all documents necessary to evidence such amendment.  I. Notice of Agreement.  Optionee agrees that, during the Restricted Period, Optionee will tell any  prospective new employer, partner, in a business venture, investors and/or any entity seeking to engage Optionee’s services,  prior to accepting employment, engagement as a consultant or contractor, or engaging in a business venture that this  Agreement exists, and further, Optionee agrees to provide a true and correct copy of this Agreement to any such individual  or entity prior to accepting any such employment or entering into any such employment or business venture.   J. Tolling.  In the event Optionee violates one of the time-limited restrictions in Section II of this Agreement,  the Company reserves the right to request as a form or equitable relief, and Optionee will not object, that a court of competent  jurisdiction extend the time period for such violated restriction by one day for each day Optionee violated the restriction,  up to the maximum extension equal to the length of the original period of the time-limited restrictions in Section II of this  Agreement.  III. MISCELLANEOUS PROVISIONS  A. Binding Effect & Adjustment. This Agreement shall be binding and conclusive upon each successor and  assign of the Company.  Optionee’s obligations hereunder shall not be assignable to any other person or entity. It is the  intent of the parties to this Agreement that the benefits of any appreciation of the underlying Common Stock during the  term of the Award shall be preserved in any event, including but not limited to a recapitalization, merger, consolidation,  reorganization, stock dividend, stock split, reverse stock split, spin-off or similar transaction, or other change in corporate  structure affecting the Shares, as more fully described in Sections 4.6 and 11 of the Plan.  All obligations imposed upon  Optionee and all rights granted to Optionee and to the Company shall be binding upon Optionee's heirs and legal  representatives.  B. Amendment.  This Agreement may only be amended by a writing executed by each of the parties hereto.  C. Governing Law.  Except as to matters of federal law and the provisions of Section II hereof, this Agreement  shall be governed by, and construed in accordance with, the laws of the State of Delaware without regard to its conflict of  laws rules. This Agreement shall also be governed by, and construed in accordance with, the terms of the Plan.  D. Jurisdiction; Service of Process.  Any action or proceeding seeking to enforce any provision of, or based  on any right arising out of, this Agreement may be brought against any of the parties in the courts of the Commonwealth of  Kentucky, County of Jefferson, or, if it has or can acquire jurisdiction, in the United States District Court for the Western  District of Kentucky, and each of the parties consents to the jurisdiction of such courts (and of the appropriate appellate  courts) in any such action or proceeding and waives any objection to venue laid therein.  Process in any action or proceeding  referred to in the preceding sentence may be served on any party anywhere in the world.  E. No Employment Agreement.  Nothing herein confers on Optionee any rights with respect to the  continuance of employment or other service with the Company, nor will it interfere with any right the Company would  otherwise have to terminate or modify the terms of Optionee's employment or other service at any time.  F. Severability.  If any provision of this Agreement is or becomes or is deemed invalid, illegal or unenforceable  in any relevant jurisdiction, or would disqualify this Award under any law deemed applicable by the Committee, such  provision shall be construed or deemed amended to conform to applicable laws or if it cannot be construed or deemed  

 

  - 7 -  amended without, in the determination of the Committee, materially altering the intent of the Plan, it shall be stricken and  the remainder of the Agreement shall remain in full force and effect. Any provision in this Agreement determined by  competent authority to be in conflict with 422 of the Internal Revenue Code of 1986, as amended, or its successor, in regard  to qualifying this Option as an incentive stock option shall be ineffective ab initio to the extent of such conflict.   G. Assignment.  The Option granted under this Agreement to Optionee may not be assigned, transferred,  pledged, alienated or hypothecated in any manner during Optionee's lifetime, but shall be solely and exclusively the right of  Optionee to exercise during his/her lifetime.  Should Optionee attempt to assign, transfer, pledge, alienate or hypothecate the  Option or any rights hereunder in any manner whatsoever, such action shall constitute a breach of the covenants hereunder  and the Company may terminate the Option as to any then unexercised shares.  H. Defined Terms.      1.  Any term used herein and not otherwise defined herein shall have the same meaning as in the Plan.  Any  conflict between this Agreement and the Plan will be resolved in favor of the Plan.  Any disputes or questions of right or  obligation which shall result from or relate to any interpretation of this Agreement shall be determined by the Committee.   Any such determination shall be binding and conclusive upon Optionee and any person or persons claiming through  Optionee as to any rights hereunder.     2.  For the purposes of this Agreement, the following terms shall have the following meaning:  (i) “Change in Control Termination” means, in the event the Option is assumed, converted, continued or  substituted in connection with a Change in Control in accordance with Section 11.1 of the Plan, if the employment of  Optionee is terminated within two (2) years following the Change in Control (a) by the Company or its acquirer or successor  for any reason other than Cause or (b) by Optionee with Good Reason.  (ii)  “Competitive Product or Service” means any product, process, system or service (in existence or under  development) of any person or organization other than the Company that is the same as, similar to, or competes with, a  product, process, system or service (in existence or under development) upon which Optionee worked or for which Optionee  had direct or indirect responsibilities, or had confidential information about at the Company during the twenty-four (24)  months prior to the Optionee’s Last Day (as defined below).  (iii)  “Competitor” means Optionee or any other person or organization, other than the Company or any of its  subsidiaries, engaged in, or about to become engaged in, research or development, production, marketing, leasing, selling,  or servicing of a Competitive Product or Service.  (iv) “Last Day” means Optionee’s last day of employment with the Company, its subsidiaries, and/or its  affiliates (or immediate successor) regardless of the reason for Optionee’s separation.  (v) “Protected Relationship” means, but is not necessarily limited to, vendors, healthcare providers, hospitals,  hospital systems, lobbyists, long-term care facilities, state Medicaid agencies, pharmaceutical manufacturers, policyholders,  agents, brokers, dealers, distributers, customers, and/or sources of supply or customers with whom, within twenty-four (24)  months prior to the Last Day, Optionee, directly or indirectly (e.g., through employees whom Optionee supervised) had  material business contact and/or about whom Optionee obtained confidential information and trade secrets.  

 

  - 8 -  (vi) “Restricted Geographic Area” means the territory (i.e.: (i) state(s), (ii) county(ies), or (iii) city(ies)) in  which, during the twenty-four (24) months prior to the Last Day, Optionee provided material services on behalf of the  Company (or in which Optionee supervised directly, indirectly, in whole or in part, the servicing activities).   (vii) “Restricted Period” means the period of Optionee’s employment with the Company, its subsidiaries’,  and/or its affiliates’ and a period of twelve (12) months after the Last Day.  Optionee recognizes that the durational term is  reasonably and narrowly tailored to the Company’s, its subsidiaries’, and/or its affiliates’ legitimate business interest and  need for protection with each position.  (viii) “Solicit” means to hire, entice, encourage, persuade, recruit, or solicit, or attempt to hire, entice, encourage,  persuade, recruit, or solicit, either directly by Optionee or indirectly through another individual.   I. Execution.  If Optionee shall fail to execute this Agreement, either manually with a paper document, or  through the online grant agreement procedure with the Company’s designated broker–dealer, and, if manually executed,  return the executed original to the Secretary of the Company, the Award shall be null and void.  The choice of form will be  at the Company’s discretion.         

 

  - 9 -  IN WITNESS WHEREOF, Company has caused this Agreement to be executed on its behalf by its duly authorized officer,  and Optionee has executed this Agreement, each as of the day first above written.    "Company"          ATTEST:      HUMANA INC.                    BY:       BY:       JOSEPH C. VENTURA  BRUCE D. BROUSSARD  Chief Legal Officer                                                           President & Chief Executive Officer              “Optionee”                  <first_name> <middle_name> <last_name>ex10pp-annualpsu100at3yr

      Humana Inc. (“Humana”) has granted you the number of shares of restricted stock of Humana set forth  below in this Restricted Stock Grant Agreement (“Restricted Stock Grant” or “Grant”) under the Amended  and Restated Stock Incentive Plan.  The award is subject to the provisions of the Plan and the Terms  and Conditions below.       YOU SHOULD CAREFULLY READ ALL THE TERMS AND CONDITIONS OF THIS RESTRICTED  STOCK GRANT AND BE SURE YOU UNDERSTAND WHAT THEY SAY AND WHAT YOUR  RESPONSIBILITIES AND OBLIGATIONS ARE BEFORE YOU CLICK ON THE “ACCEPT”  BUTTON TO ACKNOWLEDGE AND AGREE TO THIS GRANT.    If you are not willing to agree to all of the Grant terms and conditions, do not click the ACCEPT button for  the Restricted Stock Grant Acknowledgement and Agreement.  If you do not accept the Grant, you will not  receive the benefits of the Grant.    If you do click the ACCEPT button, you are accepting and agreeing to all of the terms and conditions of  this Restricted Stock Grant, which include, among other things, certain restrictive covenants that may  include non-competition and/or non-solicitation provisions.      Please be aware that the Policy Regarding Transactions in Company Securities, Inside Information and  Confidentiality places restrictions on your transactions in Humana securities and requires certain Humana  employees to obtain advance permission from the Equity Compliance Team before executing transactions  in Humana securities.     If you have any questions about your award, please contact EquityCompliance@humana.com.                                                          

 

  - 2 -  HUMANA INC.  RESTRICTED STOCK UNIT AGREEMENT WITH PERFORMANCE VESTING  AND AGREEMENT NOT TO COMPETE OR SOLICIT  UNDER THE AMENDED AND RESTATED STOCK INCENTIVE PLAN      THIS RESTRICTED STOCK UNIT AGREEMENT ("Agreement") made as of  <award_date> (the “Date of Grant”) by and between HUMANA INC., a corporation duly organized and  existing under the laws of the State of Delaware (hereinafter referred to as the "Company"), and  <first_name> <middle_name> <last_name>, an employee of the Company (hereinafter referred to as  "Grantee").   WITNESSETH:  WHEREAS, the Amended and Restated Humana Inc. Stock Incentive Plan (the "Plan") was  approved by the Company's Board of Directors and stockholders; and  WHEREAS, the Company desires to award to Grantee Restricted Stock Units in accordance with  the Plan.  NOW, THEREFORE, in consideration of the award of Restricted Stock Units to Grantee, the  promises and mutual covenants hereinafter set forth, and other good and valuable consideration, the  Company and Grantee agree as follows:  I. RESTRICTED STOCK UNIT GRANT    A. Grant.  Subject to the terms and conditions hereinafter set forth, and in accordance with  the provisions of the Plan, the Company hereby grants to Grantee, and Grantee hereby accepts from the  Company <shares_awarded> Performance-Based Restricted Stock Units (the “Restricted Stock Units”)  (which represents the target amount of shares available as set out on Appendix A).  Each Restricted Stock  Unit represents the right of Grantee to receive (i) one (1) Share on the date of distribution provided for in  Section I(E).  In addition, Grantee shall also have the right to receive all of the cash or in-kind dividends  that are paid with respect to the Shares represented by the Restricted Stock Units to which this award  relates (“DERs”).   Dividend equivalents with respect to any such Share shall be paid on the same date  that such Share is issued to Grantee pursuant to Section I(E). hereof.  The DERs shall be subject to the  same terms and conditions applicable to the Restricted Stock Units, including, without limitation, the  restrictions and non-transferability, vesting, forfeiture and distribution provisions contained in Sections  I(B) through I(E), inclusive, of this Agreement.  In the event that the Restricted Stock Units are forfeited  pursuant to Section I(D) hereof, the related DER shall also be forfeited.        PSU – NCNS - RE 

 

  - 3 -  B. Restrictions and Non-Transferability.  The Restricted Stock Units and DERs may not  be sold, transferred, pledged, assigned or otherwise alienated or hypothecated.  In addition, such  Restricted Stock Units and DERs shall be subject to forfeiture in accordance with the provisions of  Section I(D).    C. Vesting of Shares.  Subject to the terms set forth below, if as of the third anniversary of  the Date of Grant (the “Vesting Date”), Grantee and the Company have achieved the performance goals  to be set forth in Appendix A, the Restricted Stock Units and related DERs shall vest to the extent such  performance goals have been achieved.  Effective on the Vesting Date, any portion of the Restricted  Stock Units and the related DERs for which the performance goals set forth in Appendix A have not been  satisfied shall be immediately forfeited. However, notwithstanding the foregoing, upon certain  terminations of employment (as set forth below), all or a portion of the unvested Restricted Stock Units  and DERs will vest in accordance with Sections 12 and 13 of the Plan.  D. Forfeiture. Except as set forth in Sections 12 and 13 of the Plan, upon the  termination of Grantee's employment with the Company prior to the time the Restricted Stock Units and  DERs have vested, the Restricted Stock Units and DERs shall be forfeited immediately by Grantee.    E. Distributions.  The Company shall issue to Grantee (or, if applicable, Grantee’s estate or  personal representative) Shares (or such other securities or other property into which the Shares have been  converted, with any partial Shares or other securities to be settled in cash) with respect to Grantee’s  Restricted Stock Units and dividend equivalents accrued pursuant to the DERs with respect to such  Restricted Stock Units, within 30 days of the date that the Restricted Stock Units vest in accordance with  Section I(C) hereof; provided, however, that, to the extent that the Restricted Stock Units are considered  deferred compensation subject to Section 409A of the Code and the Restricted Stock Units vest in  connection with Grantee’s Change in Control Termination (defined below), then unless the Change in  Control is a Section 409A Change in Control, the distribution of  Shares (or such other securities or other  property into which the Shares have been converted) shall not be accelerated to the vesting date but such  distribution shall instead occur based on the Vesting Dates set forth in Section I(C) hereof.  A “Section  409A Change in Control” shall mean a Change in Control that also constitutes a “change in ownership or  effective control” of the Company or a “change in ownership of a substantial portion of the assets of” the  Company, in each case within the meaning of Section 409A of the Code.  Notwithstanding anything to  the contrary contained herein, no Shares may be transferred to any person other than Grantee unless such  other person demonstrates to the reasonable satisfaction of the Company such person’s right to the  transfer.         

 

  - 4 -  F. Taxes.  Federal, state and local income and employment taxes and other amounts as may  be required by law to be collected by the Company (“Withholding Taxes”) in connection with the  distribution of Shares, cash or other property or, to the extent applicable, vesting of the Restricted Stock  Units or DERs hereunder, shall be paid by Grantee at such time.  Notwithstanding the foregoing, the  Company shall withhold delivery of a number of Shares with a Fair Market Value as of the distribution  date equal to the Withholding Taxes required to be withheld in connection with such distribution.    II. AGREEMENT NOT TO COMPETE AND AGREEMENT NOT TO SOLICIT.    Grantee agrees and understands that the Company’s business is a profit-generating business  operating in a highly competitive business environment and that the Company has a legitimate business  interest in, among other things, its confidential information and trade secrets (including as protected in  other agreements and policies between the Company and Grantee) that it is providing Grantee, and in the  significant time, money, training, team building and other efforts it expends to develop Grantee’s skills to  assist in performing Grantee’s duties for the Company, including with respect to establishing, developing  and maintaining the goodwill and business relationships with Protected Relationships (defined below) and  employees, each of which Grantee agrees are valuable assets of the Company to which it has devoted  substantial resources. Grantee acknowledges that the grant Grantee is receiving under the Plan is a  meaningful way that the Company entrusts Grantee with its goodwill and aligns Grantee with the  Company objective of increasing the value of the Company’s business.  Accordingly, Grantee  acknowledges the importance of protecting the value of the Company’s business through, among other  things, covenants to restrict Grantee from engaging in activities that would adversely affect the value of  the Company and its goodwill.  A. Agreement Not to Compete.   1.  Grantee agrees that during the Restricted Period (defined below) and within the  Restricted Geographic Area (defined below), Grantee will not, directly or indirectly, perform or engage in  Competitive Product or Services (defined below) with a Competitor (defined below). Grantee may not  accept employment with a Competitor (defined below) unless the Competitor’s business is diversified and  the Company receives Written Assurances from the Competitor and Grantee that are satisfactory to the  Company that Grantee, during the Restricted Period, will not work on or provide Competitive Products or  Services or otherwise use or disclose the Company’s confidential information or trade secrets.    2.  For Section II(A), such “Written Assurances” must contain a written statement detailing  the identity of the Competitor and the nature of the services that Grantee will provide to the Competitor  with sufficient detail to allow the Company to independently assess whether Grantee is or will be in  violation of the Agreement.  The Company must also receive such “Written Assurances” at least ten  business days before Grantee commences employment for the Competitor.  Such “Written Assurances”  

 

  - 5 -  shall be delivered to the Company’s Chief Human Resource Officer or his/her authorized delegate.  3.  Nothing in this Agreement is intended to prevent Grantee from investing Grantee’s funds  in securities of a person engaged in a business that is directly competitive with the Company if the  securities of such a person are listed for trading on a registered securities exchange or actively traded in  an over-the-counter market and Grantee’s holdings represent less than one percent (1%) of the total  number of outstanding shares or principal amount of the securities of such a person.   B. Agreement Not to Solicit Protected Relationships. During the Restricted Period  (defined below) and in connection with a Competitive Product or Service (defined below), Grantee shall  not, individually or jointly with others, directly or indirectly, or by assisting others, (1) Solicit (defined  below) any Protected Relationships (defined below); or (2) Solicit any Protected Relationships to  terminate a relationship with the Company, its subsidiaries, and/or its affiliates, reduce the volume of  their business dealings with the Company, its subsidiaries, and/or its affiliates, or to otherwise cease to  accept services or products from the Company, its subsidiaries, and/or its affiliates.   C. Agreement Not to Solicit Employees.  During the Restricted Period, Grantee shall not,  individually or jointly with others, directly or indirectly, or by assisting others, (1) Solicit any employees  or former employees of the Company, its subsidiaries, and/or its affiliates with whom Grantee worked,  had business contact, or about which Grantee gained non-public or confidential information (“Employees  or Former Employees”); (2) contact or communicate with Employees or Former Employees for the  purpose of Soliciting them to terminate their employment or find employment or work with another  person or entity; (3) provide, share, or pass along to any person or entity the name, contact and/or  background information about any Employees or Former Employees or provide references or any other  information about them; (4) provide, share, or pass along to Employees or Former Employees any  information regarding potential jobs or entities or persons to work for, including but not limited to job  openings, job postings, or the names or contact information of individuals or companies hiring people or  accepting job applications; and/or (5) offer employment or work to any Employees or Former Employees.   For purposes of this covenant, “Former Employees” shall refer to employees who are not employed by  the Company, its subsidiaries, and/or its affiliates at the time of the attempted recruiting or hiring, but  were employed by, or working for the Company, its subsidiaries, and/or its affiliates in the three months  prior to the time of the attempted recruiting or hiring and/or interference.  D. Effect of Termination of Employment other than a Change in Control Termination  on Agreements Not to Compete and Not to Solicit.  1. In the event Grantee voluntarily resigns or is discharged by the Company with Cause at  any time prior to the vesting of the Restricted Stock Unit, the prohibitions on Grantee set forth in Sections  II(A), II(B) and II(C) shall remain in full force and effect.     

 

  - 6 -  2.  In the event Grantee is discharged by the Company other than with Cause, including in  connection with a Workforce Reduction or Position Elimination, or certain divestiture related  terminations, prior to the vesting of the Restricted Stock Unit, the prohibitions set forth in Section II(A)  shall remain in full force and effect during the period of time following Grantee’s termination equal to the  lesser of (x) the Restricted Period or (y) the period of time during which Grantee is deemed to be entitled  to severance measured by the sum of (i) the number of weeks Grantee is entitled to severance under the  Company’s applicable severance policy, plus (ii) a number of weeks equal to (A) the value of the  Restricted Stock Units that would remain outstanding subject to the achievement of the performance  goals (or the value of the acceleration, if any, of the vesting of any Restricted Stock Unit as a result of  Grantee’s termination under this Agreement or the Plan that would otherwise have been forfeited), with  such value measured by multiplying the number of Shares underlying the Restricted Stock Units,  assuming target performance has been achieved (or by the number of Shares underlying the Restricted  Stock Unit that become vested as a result of the acceleration of vesting, if any), by the per Share Fair  Market Value on the Last Day, divided by (B) Grantee’s then-current weekly base salary, plus (iii) any  additional period that the Company determines to provide severance to Grantee, in its discretion.   3. In the event Grantee is discharged by the Company other than with Cause prior to vesting  herein of the Restricted Stock Units, the prohibitions set forth in Sections II(B) and II(C) above shall  remain in full force and effect.  4. After the vesting of the Restricted Stock Unit, the prohibitions on Grantee set forth herein  shall remain in full force and effect, except as otherwise provided in Section II(E).  E.  Effect of a Change in Control Termination on Agreements Not to Compete and Not  to Solicit.  1. Notwithstanding anything set forth in Section II(D), in the event of a Change in Control  Termination, the prohibitions on Grantee set forth in Section II(A) shall remain in full force and effect  only if the acquirer or successor to the Company following the Change in Control shall, solely at its  option, pay, within thirty (30) days following the Last Day (with the Company or its successor), to  Grantee the Non-Compete Payment.  Notwithstanding any previous agreement between Grantee and the  Company relating to the prohibitions on Grantee set forth in Section II(A), the “Non-Compete Payment”  shall be an amount at least equal to Grantee’s then current annual base salary.  Such amount shall be in  addition to any other amounts paid or payable to Grantee with respect to other severance plans or policies  maintained by the Company.  For the avoidance of doubt, the provisions of this Section II(E) shall  supersede any agreement between Grantee and the Company relating to the prohibitions on Grantee set  forth in Section II(A), with the exception of any similar agreement contained in (i) any employment  agreement between Grantee and the Company, (ii) any agreement between Grantee and the Company not  

 

  - 7 -  related to the employment of Grantee by the Company, (iii) any severance plan or policy of the Company  and (iv) any change in control severance plan or policy of the Company.  2. In the event of a Change in Control Termination, the prohibitions on Grantee set forth in  Sections II(B) and II(C) shall remain in full force and effect.  F.  Violation of Restrictive Covenants.  This subsection sets forth the circumstances under  which Grantee shall forfeit all or a portion of any vested or unvested Restricted Stock Units without  payment and/or be required to repay or otherwise reimburse the Company any gain or value realized in  respect of all or a portion of the Restricted Stock Units.    1.  If Grantee violates any provisions of Section II of this Agreement (a “Forfeiture Event”),  Grantee shall immediately forfeit as of the date that the violation first occurs all unvested Restricted Stock  Units.  This provision does not alter the circumstances for forfeiture of unvested Restricted Stock Units as  described in Section I(D) of this Agreement.  2. For any Restricted Stock Units that vested during the 12 month period prior to the  Forfeiture Event or at any time after the Forfeiture event, Grantee shall be required to repay or otherwise  reimburse the Company, immediately upon demand, an amount in Cash or Humana Inc. common stock  equal to (i) equal to the aggregate Fair Market Value of the shares of Stock underlying such Restricted  Stock Units on the date the Restricted Stock Units became vested and (ii) any dividend or DER amounts  paid in respect of Shares.  3. The relief provided in this Section II(F) of the Agreement does not constitute the  Company’s exclusive remedy for the Grantee’s violation of any of the provisions of Section II of the  Agreement.  As any forfeiture and repayment provisions are not adequate remedies at law, including  because they do not repair the irreparable harm the Company will suffer from Grantee’s breaches of this  Agreement, the Company may seek any additional legal or equitable remedy, including injunctive relief,  for such violations.  The provisions in this section are essential economic conditions to the Company’s  grant of Restricted Stock Units.  By receiving the Restricted Stock Units, Grantee agrees upon Grantee’s  violation of Section II of this Agreement that the Company may, subject to applicable state law, deduct  from any amounts the Company owes Grantee following the Last Day any amounts Grantee owes the  Company under Section II(F).   4. The provisions under this Section II(F) of the Agreement and any amounts repayable by  Grantee hereunder are intended to be in addition to any rights to repayment the Company may have under  Section 304 of the Sarbanes-Oxley Act of 2002 and other applicable law.   5. In addition, if Grantee realizes any amounts in excess of what Grantee should have  received under the terms of any Restricted Stock Units for any reason due to mistake in calculations or  other administrative error, then Grantee shall be required to repay or reimburse any such excess amounts  

 

  - 8 -  to the Company within thirty (30) days following the Company’s written demand for repayment.  G. Governing Law. Notwithstanding any other provision herein to the contrary, the  provisions of this Section II of the Agreement shall be governed by, and construed in accordance with, the  laws of the Commonwealth of Kentucky without regard to its conflicts or choice of laws rules or  principles that might otherwise refer construction or interpretation of this Section II to the substantive law  of another jurisdiction.   H. Injunctive Relief; Invalidity of Any Provision.  Grantee acknowledges that (1) his or  her services to the Company, its subsidiaries, and/or its affiliates are of a special, unique and  extraordinary character, (2) his or her position with the Company, its subsidiaries, and/or its affiliates will  place him or her in a position of confidence and trust with respect to the operations of the Company, its  subsidiaries, and/or its affiliates, (3) he or she will benefit from continued employment with the  Company, its subsidiaries, and/or its affiliates, (4) the nature and periods of restrictions imposed by the  covenants contained in this Section II are fair, reasonable and necessary to protect the Company, its  subsidiaries, and/or its affiliates, (5) the Company, its subsidiaries, and/or its affiliates would sustain  immediate and irreparable loss and damage from Grantee’s wrongful use or disclosure of the Company,  its subsidiaries, and/or its affiliates’ confidential information or trade secrets and from Grantee’s unfair  competition or wrongful Solicitation of Protected Relationships, including with respect to the impairment  of the Company’s, its subsidiaries’, and/or its affiliates’ goodwill in its Protected Relationships, and (6)  for the same reason, the Company’s remedy at law (including under any forfeiture under Section II(F)  above) for any such breach will be inadequate.  Accordingly, Grantee agrees and consents that the  Company, in addition to the recovery of damages and all other remedies available to it, at law or in  equity, shall be entitled to seek temporary, preliminary, and permanent injunctions to prevent and/or halt  a breach or threatened breach by Grantee of any covenant contained in Section II hereof.  If any part or  provision of this Section II is determined by a court of competent jurisdiction to be invalid in whole or in  part, it shall be deemed to have been amended (and the court is authorized to amend), whether as to time,  area covered or otherwise, as and to the extent required for its validity under applicable law, and as so  amended, shall be enforceable.  The parties further agree to execute all documents necessary to evidence  such amendment.  I. Notice of Agreement.  Grantee agrees that, during the Restricted Period, Grantee will tell  any prospective new employer, partner, in a business venture, investors and/or any entity seeking to  engage Grantee’s services, prior to accepting employment, engagement as a consultant or contractor, or  engaging in a business venture that this Agreement exists, and further, Grantee agrees to provide a true  and correct copy of this Agreement to any such individual or entity prior to accepting any such  employment or entering into any such employment or business venture.   

 

  - 9 -  J. Tolling.  In the event Grantee violates one of the time-limited restrictions in Section II of  this Agreement, the Company reserves the right to request as a form or equitable relief, and Grantee will  not object, that a court of competent jurisdiction extend the time period for such violated restriction by  one day for each day Grantee violated the restriction, up to the maximum extension equal to the length of  the original period of the time-limited restrictions in Section II of this Agreement.  III. MISCELLANEOUS PROVISIONS    A. Binding Effect & Adjustment. This Agreement shall be binding and conclusive upon  each successor and assign of the Company.  Grantee’s obligations hereunder shall not be assignable to  any other person or entity. It is the intent of the parties to this Agreement that the benefits of any  appreciation of the underlying Shares during the term of the Award shall be preserved in any event,  including but not limited to a recapitalization, merger, consolidation, reorganization, stock dividend, stock  split, reverse stock split, spin-off or similar transaction, or other change in corporate structure affecting  the Shares, as more fully described in Sections 4.6 and 11 of the Plan.  All obligations imposed upon  Grantee and all rights granted to Grantee and to the Company shall be binding upon Grantee's heirs and  legal representatives.  B. Amendment.  This Agreement may only be amended by a writing executed by each of  the parties hereto.  C. Governing Law.  Except as to matters of federal law and the provisions of Section II  hereof, this Agreement shall be governed by, and construed in accordance with, the laws of the State of  Delaware without regard to its conflict of laws rules. This Agreement shall also be governed by, and  construed in accordance with, the terms of the Plan.  D. No Employment Agreement.  Nothing herein confers on Grantee any rights with respect  to the continuance of employment or other service with the Company, nor will it interfere with any right  the Company would otherwise have to terminate or modify the terms of Grantee's employment or other  service at any time.  E. Severability.  If any provision of this Agreement is or becomes or is deemed invalid,  illegal or unenforceable in any relevant jurisdiction, or would disqualify this Award under any law  deemed applicable by the Committee, such provision shall be construed or deemed amended to conform  to 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, it shall be stricken and the remainder of the  Agreement shall remain in full force and effect.  F. Defined Terms.     1. Any term used herein and not otherwise defined herein shall have the same meaning as in  the Plan.  Any conflict between this Agreement and the Plan will be resolved in favor of the Plan.  Any  

 

  - 10 -  disputes or questions of right or obligation which shall result from or relate to any interpretation of this  Agreement shall be determined by the Committee.  Any such determination shall be binding and  conclusive upon Grantee and any person or persons claiming through Grantee as to any rights hereunder.  2. For the purposes of this Agreement, the following terms shall have the following  meaning:  (i)  “Change in Control Termination” means, in the event unvested Restricted Stock Units  and DERs are assumed, converted, continued or substituted in connection with a Change in Control in  accordance with Section 11.1 of the Plan, if the employment of Grantee is terminated within two years  following the Change in Control (a) by the Company or its acquirer or successor for any reason other than  Cause or (b) by Grantee with Good Reason.   (ii)  “Competitive Product or Service” means any product, process, system or service (in  existence or under development) of any person or organization other than the Company that is the same  as, similar to, or competes with, a product, process, system or service (in existence or under development)  upon which Grantee worked, had direct or indirect responsibilities, or had confidential information about  at the Company during the twenty-four (24) months prior to the Grantee’s Last Day (defined below).  (iii)  “Competitor” means Grantee or any other person or organization, other than the  Company or any of its subsidiaries, engaged in, or about to become engaged in, research or development,  production, marketing, leasing, selling, or servicing of a Competitive Product or Service.   (iv)  “Last Day” means Grantee’s last day of employment with the Company, its subsidiaries,  and/or its affiliates (or immediate successor) regardless of the reason for Grantee’s separation.   (v)   “Protected Relationship” means, but is not necessarily limited to, vendors, healthcare  providers, hospitals, hospital systems, lobbyists, state Medicaid agencies, long-term care facilities,  pharmaceutical manufacturers, policyholders, agents, brokers, dealers, distributers, customers, and/or  other sources of supply or customers with whom within twenty-four months prior to the Last Day,  Grantee, directly or indirectly (e.g., through employees whom Grantee supervised) had material business  contact and/or about whom Grantee obtained confidential information and trade secrets.   (vi)  “Restricted Geographic Area” means the territory (i.e.: (i) state(s), (ii) county(ies), or  (iii) city(ies)) in which, during the twenty-four (24) months prior to the Last Day, Grantee provided  material services on behalf of the Company (or in which Grantee supervised directly, indirectly, in whole or  in part, the servicing activities).   (vii)  “Restricted Period” means the period of Grantee’s employment with the Company, its  subsidiaries, and/or its affiliates and a period of twelve (12) months after the Last Day.  Grantee  recognizes that the durational term is reasonably and narrowly tailored to the Company’s, its  subsidiaries’, and/or its affiliates’ legitimate business interest and need for protection with each position.  

 

  - 11 -   (viii)  “Solicit” means to hire, entice, encourage, persuade, recruit, or solicit, or attempt to hire,  entice, encourage, persuade, recruit, or solicit, either directly by Grantee or indirectly through another  individual.   G. Execution.  If Grantee shall fail to execute this Agreement, either manually with a paper  document, or through the online grant agreement procedure with the Company’s designated broker–dealer,  and, if manually executed, return the executed original to the Secretary of the Company, the Award shall  be null and void.  The choice of form will be at the Company’s discretion.  H. Section 409A.   All Restricted Stock Units granted pursuant to this Agreement are  intended either to be exempt from Section 409A of the Code, or, if subject to Section 409A of the Code, to  be administered, operated and construed in compliance with Section 409A of the Code and any guidance  issued thereunder.  This Agreement and the Plan shall be administered in a manner consistent with this  intent and any provision that would cause the Agreement or Plan to fail to satisfy the first sentence of this  section shall have no force and effect. Notwithstanding anything contained herein to the contrary,  Restricted Stock Units (and related DERs) that (a) constitute “nonqualified deferred compensation” as  defined under Section 409A of the Code and (b) vest as a consequence of Grantee’s termination of  employment, shall not be delivered until the date that Grantee incurs a “separation from service” within the  meaning of Section 409A of the Code (or, if Grantee is a “specified employee” within the meaning of  Section 409A of the Code and any guidance issued thereunder, the date that is six months and one day  following the date of such “separation from service” (or on the date of Grantee’s death, if earlier)).  In  addition, each amount to be paid or benefit to be provided to Grantee pursuant to this Agreement that  constitutes deferred compensation subject to Section 409A of the Code, shall be construed as a separate  identified payment for purposes of Section 409A of the Code.                          

 

  - 12 -  GRANTEE CERTIFIES THAT GRANTEE HAS READ AND UNDERSTANDS THIS AGREEMENT  AND THE RESTRICTIONS CONTAINED THEREIN, AND HAS HAD AN OPPORTUNITY TO  CONSULT WITH LEGAL COUNSEL PRIOR TO SIGNING.  GRANTEE ACKNOWLEDGES THAT  THIS AGREEMENT MAY BE ACCEPTED ELECTRONICALLY BY GRANTEE, AND THAT AN  ELECTRONIC COPY, HARD COPY, OR ACKNOWLEDGEMENT IS AS ENFORCEABLE AS AN  ORIGINAL.  GRANTEE ACKNOWLEDGES THAT GRANTEE HAD ABILITY TO PRINT A COPY  OF THIS AGREEMENT AND TIME TO REVIEW IT PRIOR TO SIGNING.     IN WITNESS WHEREOF, Company has caused this Agreement to be executed on its behalf by its duly  authorized officer, and Grantee has executed this Agreement, each as of the day first above written.      "Company"          ATTEST:      HUMANA INC.                    BY:       BY:       JOSEPH C. VENTURA  BRUCE D. BROUSSARD  Chief Legal Officer                                                     President & Chief Executive Officer               “Grantee”                  <first_name> <middle_name> <last_name>

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