Document:

WellPoint, Inc. Comprehensive non-Qualified Defered Compensation Plan

 Exhibit 10.4 
  
  
  
 WELLPOINT, INC. 
 COMPREHENSIVE NON-QUALIFIED DEFERRED 
 COMPENSATION PLAN 

 TABLE OF CONTENTS 
  

					
	 	  	 	 	Page

	 ARTICLE I PURPOSE
	 	1
		
	 ARTICLE II DEFINITIONS
	 	2
	 2.01
	  	“Account”	 	2
	 2.02
	  	“Affiliate”	 	2
	 2.03
	  	“Anthem LTIP”	 	2
	 2.04
	  	“Anthem Plan”	 	2
	 2.05
	  	“Anthem SERP”	 	2
	 2.06
	  	“Anthem SERP Participant”	 	2
	 2.07
	  	“Beneficiary”	 	2
	 2.08
	  	“Bonus”	 	3
	 2.09
	  	“Bonus Deferral”	 	3
	 2.10
	  	“Code”	 	3
	 2.11
	  	“Committee”	 	3
	 2.12
	  	“Company”	 	3
	 2.13
	  	“Compensation”	 	3
	 2.14
	  	“Compensation Deferral”	 	3
	 2.15
	  	“Eligible Employee”	 	3
	 2.16
	  	“Eligible Executive”	 	3
	 2.17
	  	“Key Employee”	 	4
	 2.18
	  	“Matching Contribution”	 	4
	 2.19
	  	“Merged Plan”	 	4
	 2.20
	  	“Participant”	 	4
	 2.21
	  	“Pension Benefit”	 	4
	 2.22
	  	“Pension Plan”	 	4
	 2.23
	  	“Plan”	 	4
	 2.24
	  	“Plan Year”	 	4
	 2.25
	  	“Predecessor Plan”	 	4
	 2.26
	  	“Predecessor Plan Account”	 	4
	 2.27
	  	“Predecessor Plan Participant”	 	4
	 2.28
	  	“Regulations”	 	4
	 2.29
	  	“Salary”	 	4
	 2.30
	  	“Salary Deferral”	 	4
	 2.31
	  	“Savings Plan”	 	5
	 2.32
	  	“Separation from Service”	 	5
	 2.33
	  	“Trigon Plan”	 	5
	 2.34
	  	"Trigon SERP"	 	5
	 2.35
	  	“WellPoint Plan”	 	5
	 2.36
	  	“WellPoint SERP Participant”	 	5
	 2.37
	  	“2005 Anthem SERP”	 	5
	 2.38
	  	“2005 WellPoint Plan”	 	5

  

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	 	  	 	 	Page

	 2.39
	  	“2005 Anthem Plan”	 	5
	 2.40
	  	“2005 Trigon Plan”	 	5
	 2.41
	  	“2005 Trigon SERP”	 	5
		
	 ARTICLE III ELIGIBLE EXECUTIVE DEFERRALS
	 	5
	 3.01
	  	Salary and Bonus Deferrals.	 	5
	 3.02
	  	Matching Contributions.	 	6
		
	 ARTICLE IV SUPPLEMENTAL PENSION PLAN CONTRIBUTIONS
	 	7
	 4.01
	  	Supplemental Pension Contributions under the 2005 WellPoint Plan	 	7
	 4.02
	  	Supplemental Pension Contributions under the 2005 Anthem Plan	 	7
		
	 ARTICLE V ELIGIBLE EMPLOYEE COMPENSATION DEFERRALS
	 	7
	 5.01
	  	Compensation Deferrals.	 	7
	 5.02
	  	Matching Contributions.	 	8
		
	 ARTICLE VI EARNINGS
	 	9
	 6.01
	  	Investment Funds	 	9
	 6.02
	  	Conversion of Investments from Predecessor Plans and Merged Plans	 	9
	 6.03
	  	Mapping of Investment Direction Relating to the Savings Plan	 	9
		
	 ARTICLE VII VESTING
	 	9
	 7.01
	  	Vested Percentage	 	9
		
	 ARTICLE VIII DISTRIBUTIONS
	 	10
	 8.01
	  	Distribution of Benefits	 	10
	 8.02
	  	Death	 	11
	 8.03
	  	Hardship Withdrawal	 	12
	 8.04
	  	Valuation	 	12
	 8.05
	  	Withholding	 	12
	 8.06
	  	Deferred Commencement	 	12
	 8.07
	  	Payment of Small Accounts	 	12
		
	 ARTICLE IX EFFECT ON PREDECESSOR AND MERGED PLANS
	 	13
	 9.01
	  	Coordination With Predecessor Plans	 	13
	 9.02
	  	Predecessor Plan Accounts	 	13
	 9.03
	  	Merged Plans	 	13
		
	 ARTICLE X MISCELLANEOUS
	 	14
	 10.01
	  	Limitation of Rights	 	14
	 10.02
	  	Additional Restrictions	 	14
	 10.03
	  	Claims Procedure	 	14
	 10.04
	  	Indemnification	 	14
	 10.05
	  	Assignment	 	14
	 10.06
	  	Inability to Locate Recipient	 	15
	 10.07
	  	Amendment and Termination	 	15
	 10.08
	  	Applicable Law	 	15
	 10.09
	  	No Funding	 	15
	 10.10
	  	Trust	 	15

  

 ii 

 WELLPOINT, INC. 
 COMPREHENSIVE NON-QUALIFIED DEFERRED 
 COMPENSATION PLAN 
  
 ARTICLE I 
  
 PURPOSE 
  
 This Comprehensive Non-Qualified Deferred Compensation Plan (the “Plan”) is an amendment and restatement of the WellPoint, Inc. 2005
Comprehensive Executive Non-Qualified Retirement Plan. In addition, effective as of December 31, 2005, the 2005 Anthem Supplemental Executive Retirement Plan, the 2005 Anthem Deferred Compensation Plan, the 2005 Trigon Insurance Company 401(k)
Restoration Plan, and the 2005 Supplemental Retirement Plan for Certain Employees of Trigon Insurance Company are merged into the Plan. Each of the plans identified in the previous sentence are referred to in this Plan as a “Merged Plan.”

  
 The Plan also applies, on a limited basis and as described
more fully below, to individuals who participated in each pre-2005 Anthem Long-Term Incentive Plan and to individuals who participated in the following non-qualified deferred compensation plans, each of which was effectively frozen as of
December 31, 2004; 
  
 (a) the WellPoint
Health Networks, Inc. Comprehensive Executive Non-Qualified Retirement Plan, 
  
 (b) the Anthem Supplemental Executive Retirement Plan, 
  
 (c) the Anthem Deferred Compensation Plan, 
  
 (d) the Trigon Insurance Company 401(k) Restoration Plan, and 
  
 (e) the Supplemental Retirement Plan for Certain Employees of Trigon Insurance Company. 
  
 The Plan is designed to (1) restore to selected employees of WellPoint,
Inc. (the “Company”) and its affiliates certain benefits that cannot be provided under the tax-qualified plans maintained by the Company and its affiliates and (2) provide additional opportunities for certain management and highly
compensated employees to defer one or more items of their compensation. This Plan is amended and restated effective as of January 1, 2006. Except as otherwise provided herein, this amended and restated Plan applies only to Participants to whose
Accounts contributions are credited under Articles III, IV or V of this Plan on and after January 1, 2006. 
  
 This Plan is intended to comply with the provisions of the American Jobs Creation Act of 2004 applicable to deferred compensation and shall be
administered and operated in conformity with those provisions and applicable Treasury Regulations. 
  

 1 

 This Plan is intended to be a plan that is unfunded and maintained by WellPoint, Inc. primarily for the
purpose of providing deferred compensation for a select group of management or highly compensated employees within the meaning of the Employee Retirement Income Security Act of 1974 (“ERISA”). 
  
 ARTICLE II 
  
 DEFINITIONS 
  
 In this Plan, the following terms have the meanings indicated below:

  
 2.01 “Account” means the account maintained
under the Plan for each Participant which is credited with amounts under Articles III, IV and V of the Plan and adjusted periodically for investment performance under Article VI of the Plan and distributions or withdrawals in accordance with Article
VIII. The Account of each Participant who is also a Predecessor Plan Participant shall also include the Predecessor Plan Account maintained on behalf of that Predecessor Plan Participant, as adjusted periodically for investment performance under
Article VI of the Plan and distributions or withdrawals in accordance with the terms of the Predecessor Plan to which it relates. Each Participant’s Account shall be divided into a series of Plan Year Subaccounts, one for each Plan Year
for which the Participant defers any Compensation under the Plan. To the extent it considers necessary or appropriate, the Committee or its delegate may further divide each such Plan Year Subaccount into a series of separate subaccounts so that each
category of deferred Compensation may be credited to its own separate subcategories within that particular Plan Year Subaccount. 
  
 2.02 “Affiliate” means an entity other than the Company whose employees participate in the tax-qualified retirement plans of the Company,
Anthem Holding Corp. or Anthem Insurance Companies, Inc. or whose employees are authorized to participate in this Plan by the Committee. 
  
 2.03 “Anthem LTIP” means each pre-2005 Anthem Long-Term Incentive Plan. 
  
 2.04 “Anthem Plan” means the Anthem Deferred Compensation Plan. 
  
 2.05 “Anthem SERP” means the Anthem Supplemental Executive
Retirement Plan. 
  
 2.06 “Anthem SERP
Participant” means an individual who is eligible on or after January 1, 2006 to earn a benefit under the 2005 Anthem SERP. 
  
 2.07 “Beneficiary” means the person or persons, natural or otherwise, designated in writing, to receive a Participant’s vested
Account if the Participant dies before distribution of the entire vested balance credited to that Account. A Participant may designate one or more primary Beneficiaries and one or more secondary Beneficiaries. A Participant’s Beneficiary
designation must be made in writing pursuant to such procedures as the Committee may establish and delivered to the Committee before the Participant’s death. The Participant may revoke or change this designation at any time before his or her
death by following such procedures as the Committee will establish. If the Committee has not received a Participant’s Beneficiary 

  

 2 

 
designation before the Participant’s death or if the Participant does not otherwise have an effective Beneficiary designation on file when he or she
dies, the vested balance of such Participant’s Account will be distributed to his or her estate. 
  
 2.08 “Bonus” means an amount awarded to an Eligible Employee or Eligible Executive under the Annual Incentive Plan maintained by the
Company or any Affiliate. 
  
 2.09 “Bonus
Deferral” means an election by a Participant to defer the receipt of a Bonus in accordance with the requirements of Article III of this Plan. 
  
 2.10 “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
  
 2.11 “Committee” means the Compensation Committee of the
Company’s Board of Directors or a subcommittee of two or more members thereof. The Committee shall have full discretionary authority to administer and interpret the Plan, to determine eligibility for Plan benefits, to select employees for Plan
participation, to determine the benefit entitlement of each Participant and Beneficiary hereunder and to correct errors. The Committee may delegate one or more of its duties and responsibilities hereunder to the Senior Vice President of Human
Resources, and unless the Committee expressly provides to the contrary, any such delegation will carry with it the Committee’s full discretionary authority with respect to the delegated duties and responsibilities. In no event, however, shall
the Committee delegate its authority to amend or terminate the Plan pursuant to the provisions of Sections 10.02 and 10.07. Decisions of the Committee or its delegate will be final and binding on all persons. 
  
 2.12 “Company” means WellPoint, Inc., an Indiana
corporation. 
  
 2.13 “Compensation” means
compensation as defined in the Savings Plan, as constituted from time to time, without regard to the application of the limitation under Code Section 401 (a) (17). 
  
 2.14 “Compensation Deferral” means an election by a Participant to defer the receipt of Compensation in
accordance with the requirements of Article V of this Plan. 
  
 2.15 “Eligible Employee” means each employee of the Company or an Affiliate whose Compensation for the Plan Year in which he or she is to participate is in excess of the compensation limit imposed by Code
Section 401(a)(17) for that year. Qualification as an Eligible Employee shall be on a Plan Year by Plan Year basis, and an individual who qualifies as an Eligible Employee for a particular Plan Year will automatically cease to be such an
Eligible Employee upon the earlier of (A) the beginning of any Plan Year in which the individual ceases to meet the qualification requirements of the preceding sentence or (B) the date the Plan is terminated. In addition, the Committee
may, in its sole discretion, place further requirements and/or limitations on an Eligible Employee’s participation in any portion of the Plan. 
  
 2.16 “Eligible Executive” means each executive of the Company or an Affiliate at the level of Vice President or above. Status as an
Eligible Executive shall be on a Plan Year by Plan Year basis, and an individual who is an Eligible Executive for a particular Plan Year will automatically cease to be such an Eligible Executive during the course of that Plan Year upon the earlier
of (A) the date the individual ceases to meet the qualification requirements of the 

  

 3 

 
preceding sentence or (B) the date the Plan is terminated. In addition, the Committee may, in its sole discretion, place further requirements and/or
limitations on an Eligible Executive’s participation in any portion of the Plan. 
  
 2.17 “Key Employee” means for the period January 1 through December 31 each individual identified by the Company as of the immediately preceding September 30 as a “key
employee,” as defined under Section 416(i) of the Code, disregarding Section 416(i)(5) of the Code. 
  
 2.18 “Matching Contribution” means a matching contribution pursuant to Section 3.02 or 5.02 of this Plan. 
  
 2.19 “Merged Plan” means the 2005 Anthem SERP, the 2005
Anthem Plan, the 2005 Trigon Plan or the 2005 Trigon SERP. 
  
 2.20 “Participant” means a current or former Eligible Executive or Eligible Employee for whom an Account (including one or more Plan Year Subaccounts) is maintained. A Participant shall also include a Predecessor Plan
Participant for the limited purposes set forth in this Plan. 
  
 2.21 “Pension Benefit” means the benefit payable to an individual under the Pension Plan or the WellPoint Cash Balance Pension Plan, as the context requires. 
  
 2.22 “Pension Plan” means the WellPoint Health Network, Inc. Pension Accumulation Plan, as amended from
time to time. 
  
 2.23 “Plan” means this
WellPoint, Inc. Comprehensive Non-Qualified Deferred Compensation Plan, as amended from time to time. 
  
 2.24 “Plan Year” means the calendar year, commencing with the 2005 calendar year. 
  
 2.25 “Predecessor Plan” means any of the WellPoint Plan, the
Anthem SERP, the Anthem Plan, the various Anthem LTIPs, the Trigon Plan or the Trigon SERP. 
  
 2.26 “Predecessor Plan Account” means a hypothetical or bookkeeping account reflecting an accrued benefit under a Predecessor Plan as of December 31, 2005. 
  
 2.27 “Predecessor Plan Participant” means an individual who
was eligible to participant in one or more of the Predecessor Plans and who, as of December 31, 2005, has a Predecessor Plan Account. 
  
 2.28 “Regulations” mean Treasury Regulations issued pursuant to the Code. 
  
 2.29 “Salary” means that portion of a Participant’s Compensation other than a Bonus. 
  
 2.30 “Salary Deferral” means an election by a Participant to
defer the receipt of Salary in accordance with the requirements of Article III of this Plan. 
  

 4 

 2.31 “Savings Plan” means the WellPoint 401(k) Retirement Savings Plan, as amended from
time to time. 
  
 2.32 “Separation from Service”
means termination of the Participant’s employment relationship (as defined in the applicable Regulations) with the Company and its Affiliates and any other service relationship defined in the applicable Regulations, other than by reason of
death. 
  
 2.33 “Trigon Plan” means the Trigon
Insurance Company 401(k) Restoration Plan. 
  
 2.34
“Trigon SERP” means the Supplemental Retirement Plan for Certain Employees of Trigon Insurance Company. 
  
 2.35 “WellPoint Plan” means the WellPoint Health Networks, Inc. Comprehensive Executive Non-Qualified Retirement Plan. 
  
 2.36 “WellPoint SERP Participant” means an individual who is
eligible on or after January 1, 2006 to earn a benefit under Section 4.01 of the 2005 WellPoint Plan. 
  
 2.37 “2005 Anthem SERP” means the 2005 Anthem Supplemental Executive Retirement Plan. 
  
 2.38 “2005 WellPoint Plan” means the WellPoint, Inc. 2005
Comprehensive Executive Non-Qualified Retirement Plan. 
  
 2.39
“2005 Anthem Plan” means the 2005 Anthem Deferred Compensation Plan. 
  
 2.40 “2005 Trigon Plan” means the 2005 Trigon Insurance Company 401(k) Restoration Plan. 
  
 2.41 “2005 Trigon SERP” means the 2005 Supplemental Retirement Plan for Certain Employees of Trigon Insurance Company. 
  
 ARTICLE III 
  
 ELIGIBLE EXECUTIVE DEFERRALS 
  
 3.01 Salary and Bonus Deferrals. 
  
 (a) Elections.    An Eligible
Executive may make a Salary Deferral and Bonus Deferral with respect to Compensation to be paid in the upcoming Plan Year by filing an appropriate deferral election no later than the June 30 immediately preceding that Plan Year. However, if an
individual first becomes eligible to participate in this Plan after the start of a Plan Year (and is not already eligible to participate in any other “account balance plan” (as defined in Proposed Treasury Regulation section
1.409A-1(c)(2)(i)(A)) of the Company), that individual may elect, within thirty (30) days after he or she first 

  

 5 

 
becomes eligible to participate in the Plan, to make a Salary Deferral election with respect to Salary earned for services performed by such individual in
pay periods during that Plan Year beginning after the filing of his or her Salary Deferral election. A new Salary Deferral and Bonus Deferral election will be required with respect to each Plan Year such individual remains an Eligible Executive. The
Committee may prescribe such rules and requirements regarding Salary Deferral and Bonus Deferral elections, including without limitation the requirement that an Eligible Executive’s Salary Deferral election be in the same percentage as his or
her deferral election under the Savings Plan. 
  
 (b) No Changes.    A Participant’s Salary Deferral and Bonus Deferral election for a particular Plan Year may not be revoked, modified or suspended after the deadline for making it, except to the extent
permitted under Code Section 409A and the Regulations thereunder. 
  
 (c) Late Election.    If an Eligible Executive does not make a timely election for a Plan Year, no Salary Deferrals or Bonus Deferrals will be made under the Plan on behalf of that Eligible
Executive for that Plan Year. 
  
 (d)
Amount.    An Eligible Executive may elect to make a Salary Deferral for each payroll period in a percentage (not to exceed 60%) of the Salary payable after the Eligible Executive has made the maximum salary deferrals
permitted under the Savings Plan for the Plan Year by reason of Code Section 402(g) or, if earlier, when the Eligible Executive’s Compensation exceeds the limit established by Code Section 401(a)(17). In addition, an Eligible
Executive may separately elect to make a Bonus Deferral with respect to any amount of his or her Bonus as long as the total amount of Salary Deferrals and Bonus Deferrals for that Plan Year do not exceed 80% of his or her Compensation. 

 
 (e) Crediting.    Salary
Deferrals and Bonus Deferrals made by the Participant will be credited to his or her applicable Plan Year Subaccount as soon as practical after the date that the Salary or Bonus amount to which those Salary Deferrals and Bonus Deferrals relate would
have otherwise been paid. 
  
 3.02 Matching Contributions.

  
 (a)
Eligibility.    An Eligible Executive shall be entitled to a Matching Contribution under this Plan only to the extent he or she has satisfied the eligibility requirements for an employer matching contribution under the
Savings Plan. 
  
 (b)
Amount.    The amount of the Matching Contribution to which an Eligible Executive is entitled for each payroll period will be equal to 100% of the first 6% of his or her Compensation that he or she elects to defer under
this Plan or the Savings Plan (either as a Salary Deferral, Bonus Deferral, or as an elective deferral under the Savings Plan) less the amount of matching contribution made under the Savings Plan with respect to his or her Compensation for that
payroll period. 
  
 (c)
Crediting.    The Matching Contributions to which the Participant is entitled will be credited to his or her applicable Plan Year Subaccount at such time and in such manner as determined by the Committee or its designate
and as applied uniformly to all Participants. 
  

 6 

 ARTICLE IV 
  

SUPPLEMENTAL PENSION PLAN CONTRIBUTIONS 
  
 4.01 Supplemental Pension Contributions under the 2005 WellPoint Plan.    For Plan Years beginning on and after January 1,
2006, the Account of a WellPoint SERP Participant shall be credited with a Supplemental Pension Contribution equal to the difference between the amount which was actually credited to his account under the Pension Plan and the amount which would have
been credited to his account had the amount not been limited as a result of Code Section 401(a)(17) or Code Section 415. The Supplemental Pension Contribution to which the Participant is entitled will be credited to his applicable Plan
Year Subaccount as of the date that the Pension Benefit to which such Supplemental Pension Benefit Contribution relates would otherwise have been credited under the Pension Plan. 
  
 4.02 Supplemental Pension Contributions under the 2005 Anthem Plan.    For Plan Years beginning
on and after January 1, 2006, the Account of an Anthem SERP Participant shall be credited with a Supplemental Pension Contribution equal to the difference between the amount which was actually credited to his account under the WellPoint Cash
Balance Pension Plan and the amount which would have been credited to his account had the amount not been limited as a result of Code Section 401(a)(17) or Code Section 415. The Supplemental Pension Contribution to which the Participant is
entitled will be credited to his applicable Plan Year Subaccount as of the date that the Pension Benefit to which such Supplement Pension Benefit Contribution relates would otherwise have been credited under the Anthem Cash Balance Pension Plan.

  
 ARTICLE V 
  
 ELIGIBLE EMPLOYEE COMPENSATION DEFERRALS 
  
 5.01 Compensation Deferrals. 
  
 (a) Elections.    In order to be
eligible to make Compensation Deferrals for a Plan Year, an Eligible Employee must file an appropriate deferral election for that Plan Year. Such election must be made before the start of the Plan Year in which the Compensation subject to that
election is to be earned. However, if an individual first becomes eligible to participate in this Plan after the start of a Plan Year (and is not already eligible to participate in any other “account balance plan” (as defined in Proposed
Treasury Regulation section 1.409A-1(c)(2)(i)(A)) of the Company), that individual may elect, within thirty (30) days after he or she first becomes eligible to participate in the Plan, to make Compensation Deferrals with respect to Compensation
earned for services performed by such individual in pay periods beginning after the filing of his or her deferral election. A new deferral election will be required for each Plan Year such individual remains an Eligible Employee. 
  

 7 

 After the initial year of participation, an Eligible Employee will make a Compensation
Deferral (not in excess of 6%) by electing to participate in the Plan no later than the end of the year prior to the year of Compensation Deferral. 
  
 (b) No Changes.    A Participant’s Compensation Deferral election for a particular Plan Year may not be
revoked, modified or suspended after the start of that Plan Year, except to the extent permitted under Code Section 409A and the Regulations thereunder. 
  
 (c) Late Election.    If an Eligible Employee does not make a timely election for a Plan Year, no Compensation
Deferrals will be made under the Plan on behalf of that Eligible Employee for that Plan Year. 
  
 (d) Amount.    An Eligible Employee may elect to defer for each payroll period a percentage (not to exceed 6%)
of the Compensation payable after the Eligible Employee’s Compensation exceeds the limit established by Code Section 401(a)(17). Notwithstanding the foregoing, no Compensation Deferrals may be made with respect to Compensation that
represents “performance-based compensation” under Section 409A(a)(4)(B)(iii) of the Code. 
  
 (e) Crediting.    The Compensation Deferrals made by the Participant will be credited to his or her applicable
Plan Year Subaccount as soon as practical after the date that the Compensation to which those Compensation Deferrals relate would otherwise have been paid. 
  
 5.02 Matching Contributions. 
  
 (a) Eligibility.    An Eligible Employee shall be entitled to a Matching Contribution under this Plan only to
the extent he or she has satisfied the eligibility requirements for an employer matching contribution under the Savings Plan. 
  
 (b) Amount.    The amount of the Matching Contribution to which the Eligible Employee is entitled for each
payroll period will be equal to 100% of the first 6% of his or her Compensation that he or she elects to defer under this Plan or the Savings Plan (either as a Compensation Deferral or as an elective deferral under the Savings Plan) less the amount
of matching contribution to be made under the Savings Plan with respect to his or her Compensation for that payroll period. 
  
 (c) Crediting.    The Matching Contributions to which the Participant is entitled will be credited to his or
her applicable Plan Year Subaccount at such time and in such manner as determined by the Committee or its designate and as applied uniformly to all Participants. 
  

 8 

 ARTICLE VI 
  

EARNINGS 
  
 6.01 Investment Funds.    Amounts credited to a Participant’s Account under the Plan shall be credited with earnings, at
periodic intervals determined by the Committee, at a rate equal to the actual rate of return for such period on the investment fund or funds or index or indices or vehicle or vehicles selected by that Participant from a range of investment vehicles
authorized by the Committee. The rate of return on such investment vehicles shall be tracked solely for the purpose of determining the phantom investment gain, earnings and losses to be credited to the Participant’s Account during the deferral
period. Neither the Company nor any of its affiliates shall be obligated to make any actual investment. 
  
 6.02 Conversion of Investments from Predecessor Plans and Merged Plans.    Prior to January 1, 2006, amounts representing
Predecessor Plan Account balances and account balances from Merged Plans were credited with earnings based on investment options available under the Predecessor Plan or Merged Plan to which they related. Effective as of January 1, 2006, those
Predecessor Plan Accounts (or accounts from Merged Plans) shall be credited with earnings in accordance with Section 6.01 of this Plan. Prior to January 1, 2006, the Committee shall prescribe rules (that may vary among classes of
Participants) that provide each Predecessor Plan Participant (and Participant with a Merged Plan account balance) an opportunity to select the investment fund or funds or index or indices to be used as the basis for crediting his or her Predecessor
Plan Account (or Merged Plan account) with earnings as of January 1, 2006. To the extent the Committee has not received investment direction from a Participant before December 15, 2005 with respect to his or her Predecessor Plan Account or
Merged Plan account, such Predecessor Plan Account or Merged Plan account shall be credited with earnings based upon a default investment option under the Savings Plan designated as such by the Committee or in accordance with such other rules as may
be adopted by the Committee and applied on a consistent, uniform basis. 
  
 6.03 Mapping of Investment Direction Relating to the Savings Plan.    In the absence of Participant direction on or before December 15, 2005, to the extent an Account or a Predecessor Plan Account is being
credited as of December 31, 2005 with earnings based on the Participant’s selection of one or more of the investment funds offered under the Savings Plan (or its predecessor, the 401(k) Retirement Savings Program of WellPoint Health), the
investment funds used to credit earnings to his or her Account or Predecessor Plan Account as of January 1, 2006 shall be those investment funds available under the Savings Plan after December 31, 2005 that are determined by the plan
administrator of the Savings Plan to be comparable to the investment funds selected by the Participant prior to January 1, 2006. 
  
 ARTICLE VII 
  
 VESTING 
  
 7.01 Vested Percentage.    Each Participant will be 100% vested in that portion of his or her Account attributable to Salary Deferrals and Bonus Deferrals made on or after January 1, 2006. Contributions made
on and after January 1, 

  

 9 

 
2006 to a Participant’s Plan Year Subaccount under Section 4.01 of this Plan shall vest in the same manner as benefits vest under the WellPoint
Health Pension Accumulation Plan, as amended from time to time. Contributions made on and after January 1, 2006 to a Participant’s Plan Year Subaccount under Section 4.02 of this Plan shall vest in accordance with the terms of the
2005 Anthem SERP. Vesting of a Participant’s Account attributable to deferrals made and accruals earned prior to January 1, 2006 under a Predecessor Plan or Merged Plan were governed by the terms of the Predecessor Plan or Merged Plan to
which they relate. Deferrals made under this Plan prior to January 1, 2006 were 100% vested except as follows: 
  
 (a) To the extent any item of Compensation deferred under the Plan prior to January 1, 2006 would have been subject to additional
vesting requirements if not deferred, then the portion of the Participant’s Plan Year Subaccount attributable to that item shall be subject to those additional vesting requirements. 
  
 (b) Each Participant will vest in the portion of each Plan Year Subaccount attributable to
“Supplemental Pension Plan Contributions” and “Supplemental Special Deferred Compensation Arrangements” (as those terms were defined in this Plan prior to January 1, 2006) in the same manner that he or she vests under the
WellPoint Health Pension Accumulation Plan, as amended from time to time, and/or under any “Special Deferred Compensation Arrangement” (as that term was defined in this Plan prior to January 1, 2006). 
  
 ARTICLE VIII 
  
 DISTRIBUTIONS 
  
 8.01 Distribution of Benefits.    Each Participant
must, prior to the start of each Plan Year, elect the manner in which the Plan Year Subaccount for that Plan Year will be distributed. Accordingly, the Participant shall make a separate distribution election with respect to each Plan Year Subaccount
by following the procedures described below and by satisfying such additional requirements as the Committee may determine. 
  
 (a) Annual Election.    Unless a later date is permitted in the Regulations, at the same time the Participant
files his or her deferral election for one or more items of Compensation to be earned in the upcoming Plan Year, the Participant must also elect, in writing, which of the distribution options described below will govern the payment of the vested
balance of the Plan Year Subaccount to which those deferred items of Compensation are credited. 
  
 (b) Form and Timing.    A Participant may elect to have the vested portion of his or her Plan Year Subaccount
distributed as soon as administratively feasible following one of the following distribution events in one of the following distribution forms: 
  
 (i) a single lump sum payment on the earlier of a specified date or Separation from Service; 
  

 10 

 (ii) a single lump sum payment equal to a specified dollar amount or specified percentage
of the Plan Year Subaccount balance payable on a specified date and the remainder of the Plan Year Subaccount balance payable at Separation from Service in the following form: 
  
 (A) a single lump sum; 
  
 (B) 5 annual installments; or 
  
 (C) 10 annual installments; provided, however that if Separation from Service occurs prior to the
designated distribution date, the entire Plan Year Subaccount balance will be paid based on the Separation from Service election; or 
  
 (iii) distribution at Separation from Service in the following form: 
  
 (A) a single lump sum; 
  
 (B) 5 annual installments; or 
  
 (C) 10 annual installments. 
  
 (c) Subsequent Election.    No change of a previous election under
Section 8.01(b) shall be permitted except that, if the Participant previously elected payment of all or a portion of his or her Plan Year Subaccount in a lump sum as of a specified date (not as of Separation from Service), the Participant shall
be permitted to change his or her election with respect to that portion of his or her Plan Year Subaccount, but only to payment in a lump sum as of the fifth anniversary of his or her Separation from Service. However, no such change of election
under this Section 8.01(d) shall have any force or effect or become effective until the expiration of the twelve (12)-month period measured from the filing date of such election. In addition, each such change of election with respect to an
original election to receive payment as of a specified date shall be valid only if such election is made at least 12 months before the date of the scheduled distribution. In no event, however, may any change to the distribution election in effect
for the Plan Year Subaccount result in any acceleration of the distribution of that subaccount. For purposes of this subsection (d), in accordance with the Regulations, a series of annual installments shall be treated as a single payment.

  
 (d) Default.    If,
upon a Participant’s Separation from Service, the Committee does not have a proper distribution election on file for that Participant with respect to one or more of his or her Plan Year Subaccounts, the vested portion of each of those Plan Year
Subaccounts will be distributed to the Participant in one lump sum as soon as administratively feasible following the Participant’s Separation from Service. 
  
 8.02 Death.    If a Participant dies with a vested balance credited to one or more of his
or her Plan Year Subaccounts, whether or not the Participant was receiving payouts from those subaccounts at the time of his or her death, then the Participant’s Beneficiary will receive the vested balance of each of those Plan Year Subaccounts
in accordance with the timing and form of distribution provisions set forth in Section 8.01. 
  

 11 

 8.03 Hardship Withdrawal.    If a Participant (A) incurs a severe
financial hardship as a result of (i) a sudden and unexpected illness or accident involving the Participant or his or her spouse or any dependent (as determined pursuant to Section 152(a) of the Code), (ii) a casualty loss involving
the Participant’s property or (iii) other similar extraordinary and unforeseeable event beyond the Participant’s control and (B) does not have any other resources available, whether through reimbursement or compensation (by
insurance or otherwise) or liquidation of existing assets (to the extent such liquidation would not itself result in financial hardship), to satisfy such financial emergency, then the Participant may apply to the Committee for an immediate
distribution from the vested portion of his or her Account in an amount necessary to satisfy such financial hardship and the tax liability attributable to such distribution. The Committee shall have complete discretion to accept or reject the
request and shall in no event authorize a distribution in an amount in excess of that reasonably required to meet such financial hardship and the tax liability attributable to that distribution. 
  
 Effective for 2005 and later Plan Year Subaccounts, any hardship withdrawal
shall be made only to the extent permitted in accordance with Section 1.409A-3(g)(3) of the Regulations. As a condition of the Committee’s acceptance of a request for a hardship withdrawal under this Section 8.03, the
Participant’s election to make Salary Deferrals, Bonus Deferrals and/or Compensation Deferrals shall be terminated for the remainder of that Plan Year. Thereafter, such Participant shall be suspended from making Salary Deferrals and Bonus
Deferrals under Section 3.01 or Compensation Deferrals under Section 5.01 until the second Plan Year following the Plan Year in which the hardship withdrawal was made. 
  
 8.04 Valuation.    The amount to be distributed from any Plan Year Subaccount pursuant to this
Article VIII shall be determined on the basis of the vested balance credited to that subaccount as of the most recent practicable date (as determined by the Committee or its designate) preceding the date of the actual distribution. 
  
 8.05 Withholding.    Either the Company or an
Affiliate will deduct from Plan payouts, or from other compensation payable to a Participant or Beneficiary, amounts required by law to be withheld for taxes with respect to benefits under this Plan. The Company and each affiliate each reserves the
right to reduce any supplemental deferral or contribution that would otherwise be made under this Plan on behalf of a Participant to satisfy the Participant’s tax withholding liabilities. 
  
 8.06 Deferred Commencement.    Effective as of
January 1, 2005 for this Plan and the Merged Plans, notwithstanding any provision to the contrary in this Article VIII or any other article of this Plan, no distribution in connection with the Separation from Service by a Participant who is at
that time deemed to be a Key Employee shall be made or otherwise commence prior to the earlier of (i) the expiration of the six (6)-month period measured from the date of such Separation from Service or (ii) the date of the
Participant’s death. 
  
 8.07 Payment of Small
Accounts.    Notwithstanding anything in this Plan to the contrary and only to the extent permitted under Section 409A of the Code, if a Participant 

  

 12 

 
becomes entitled to a distribution of his Account balance by reason of his or her Separation from Service and the value of the Participant’s Account
balance is equal to or less than $10,000, then the Committee may, in its sole discretion, pay to the Participant his or her entire Account balance in a single lump sum cash payment. Any such payment will be made as soon as administratively feasible
following Separation from Service and before the later of (a) December 31 of the calendar year in which the Participant’s Separation from Service occurs, or (b) the 15th day of the third month following the Participant’s Separation from Service. 
  
 ARTICLE IX 
  
 EFFECT ON PREDECESSOR AND MERGED PLANS 
  
 9.01 Coordination With Predecessor Plans.    Solely for ease of administration, the Predecessor Plans may be attached as
exhibits to this Plan and are incorporated by reference herein. Except as otherwise specifically provided in this Plan, eligibility for and entitlement to benefits under the Predecessor Plans are governed solely by the terms of those Predecessor
Plans. Effective January 1, 2006, no Participant shall accrue further benefits under the Predecessor Plans; provided, however, that Predecessor Plan Accounts shall continue to accrue earnings under Section 6.01 of this Plan. A Predecessor
Plan Participant who does not meet the requirements of an Eligible Executive or Eligible Employee shall participate in this Plan (and have rights and obligations hereunder) solely with respect to the Predecessor Plan Account maintained under this
Plan on his or her behalf. 
  
 9.02 Predecessor Plan
Accounts.    The December 31, 2005 Predecessor Plan Account balance of any Predecessor Plan Participant shall be accounted for under this Plan as of January 1, 2006 and shall thereafter be subject to Article VI of
this Plan. In all other respects, each Predecessor Plan Account shall remain subject exclusively to the terms of the Predecessor Plan to which it relates, including without limitation the existing distribution election (commencement date and form of
distribution) applicable to the Predecessor Participant’s Predecessor Plan Account. Any change in that distribution election must be made in compliance with the applicable provisions of the applicable Predecessor Plan. 
  
 9.03 Merged Plans.    The 2005 Anthem Plan, the
2005 Anthem SERP, the 2005 Trigon Plan and the 2005 Trigon SERP shall be merged into this Plan effective as of December 31, 2005. On and after January 1, 2006, no further benefits shall accrue under the 2005 Anthem Plan, the 2005 Anthem
SERP, the 2005 Trigon Plan, or the 2005 Trigon SERP except as otherwise provided in this Plan. The rights and obligations of participants in the Merged Plans prior to January 1, 2006 shall be governed solely by the terms of the Merged Plans;
provided, however, that to the extent minimally necessary to comply with the requirements of Section 409A of the Code, the requirements and restrictions of Sections 5.01(a)-(c) and 8.01(a)-(d) of the 2005 WellPoint Plan shall
apply, effective as of January 1, 2005, to the portion of the Participant’s Account attributable to the 2005 Anthem Plan. 
  

 13 

 ARTICLE X 
  

MISCELLANEOUS 
  
 10.01 Limitation of Rights.    Participation in this Plan does not give any individual the right to be retained in the service
of the Company or any Affiliate or other related entity. 
  
 10.02
Additional Restrictions.    If the Committee determines that additional restrictions or limitations must be placed on the investment vehicles utilized for measuring the return on the amounts credited to Participant
Accounts, the right of Participants to make investment elections with respect to their Accounts, their ability to make or change distribution elections, their ability to defer distributions or to change the commencement date for the distribution of
their benefits or the method of such distribution or their rights or status as creditors under the Plan in order to avoid current income taxation of amounts deferred under the Plan, the Committee may, in its sole discretion, amend the Plan to impose
such restrictions or limitations, cease deferrals under the Plan and/or defer distribution dates under the Plan. 
  
 10.03 Claims Procedure.    No application is required for the commencement of benefits under the Plan. However, if a
Participant or Beneficiary (“Claimant”) believes that he or she is entitled to a greater benefit under the Plan, the Claimant may submit a signed, written application to the Committee (or the Committee’s authorized delegate hereunder)
within ninety (90) days after having been denied such a greater benefit. The Claimant will generally be notified of the approval or denial of this application within ninety (90) days after having been denied such a greater benefit. The
Claimant will generally be notified of the approval or denial of this application within ninety (90) days after the date that the Committee (or the Committee’s authorized delegate hereunder) receives the application. If the claim is
denied, the notification will state specific reasons for the denial and the Claimant will have sixty (60) days to file a signed, written request for a review of the denial with the Committee. This request will include the reasons for requesting
a review, facts supporting the request and any other relevant comments. The Committee (or the Committee’s authorized delegate hereunder) will generally make a final, written determination of the Claimant’s eligibility for benefits within
sixty (60) days after receipt of the request for review. 
  
 10.04 Indemnification.    The Company will indemnify and hold harmless the Directors, the members of the Committee and any delegate of the Committee, and employees of the Company and its Affiliates who may be
deemed fiduciaries of the Plan, from and against any and all liabilities, claims, costs and expenses, including attorneys’ fees, arising out of an alleged breach in the performance of their fiduciary duties under the Plan, other than such
liabilities, claims, costs and expenses as may result from the gross negligence or willful misconduct of such persons. The Company shall have the right, but not the obligation, to conduct the defense of such persons in any proceeding to which this
Section 10.04 applies. 
  
 10.05
Assignment.    To the fullest extent permitted by law, benefits under the Plan and rights thereto are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or
garnishment by creditors of a Participant or a Beneficiary. 
  

 14 

 10.06 Inability to Locate Recipient.    If a benefit under the Plan remains
unpaid for two (2) years from the date it becomes payable, solely by reason of the inability of the Committee to locate the Participant or Beneficiary entitled to the payment, the benefit shall be treated as forfeited. Any amount forfeited in
this manner shall be restored without interest upon presentation of an authenticated written claim by the person entitled to the benefit. 
  
 10.07 Amendment and Termination.    The Committee may, at any time, amend or terminate the Plan. Any amendment must be made in
writing; no oral amendment will be effective. Except to the limited extent authorized pursuant to Section 10.02, no amendment may, without the consent of an affected Participant (or, if the Participant is deceased, the Participant’s
Beneficiary), adversely affect the Participant’s or the Beneficiary’s rights and obligations under the Plan with respect to amounts already credited to a Participant’s Account, and all amounts deferred under the Plan prior to the date
of any such amendment or termination of the Plan shall continue to become due and payable in accordance with the distribution provisions of Article VIII as in effect immediately prior to such amendment or termination. 
  
 10.08 Applicable Law.    To the extent not
governed by Federal law, the laws of the State of Indiana shall govern the Plan. If any provision of the Plan is held to be invalid or unenforceable, the remaining provisions of the Plan will continue to be fully effective. 
  
 10.09 No Funding.    The obligation to pay the
vested balance of each Participant’s Account shall at all times be an unfunded and unsecured obligation of the Company, and. Participants and Beneficiaries shall have the status of general unsecured creditors of the Company. Except to the
extent provided below in Section 10.10, Plan benefits will be paid from the general assets of the Company, and nothing in the Plan will be construed to give any Participant or any other person rights to any specific assets of the Company or its
Affiliates. In all events, it is the intention of the Company and its Affiliates and all Participants that the Plan be treated as unfunded for tax purposes and for purposes of Title I of ERISA. 
  
 10.10 Trust.    The benefits under the Plan will
be paid from the assets of a grantor trust (the “Trust”) established by the Company to assist it in meeting its obligations hereunder and, to the extent that such assets are not sufficient, by the Company out of its general assets. The
Trust shall conform to the terms of the Internal Revenue Service Model Trust in Internal Revenue Service Procedure 92-64 (or any successor procedure). 
  
 IN WITNESS WHEREOF, WellPoint, Inc. has caused this Plan to be executed by its duly authorized representative as of the date indicated above.

  

			
	WELLPOINT, INC.
		
	 By:
	 	 /s/ Larry C. Glasscock

	 Title:
	 	 Chairman, President and Chief Executive Officer

  

 15Wellpoint Board of Directors' Deferred Compensation

 Exhibit 10.5 
  
  
  
 WELLPOINT 
  
 BOARD OF
DIRECTORS’ 
  
 DEFERRED COMPENSATION PLAN

  
  
 As Amended and Restated Effective January 1, 2005 

 WELLPOINT 
 BOARD OF DIRECTORS’ 
 DEFERRED COMPENSATION PLAN 
 (AS AMENDED AND RESTATED JANUARY 1, 2005) 
  
 PREAMBLE 
  
 The WellPoint Board of Directors’ Deferred Compensation Plan (the “Plan”) is an unfunded supplemental retirement plan for directors of
WellPoint, Inc. (“WellPoint”) and such other subsidiaries and affiliates of WellPoint which have adopted the Plan and which are listed on Appendix A. 
  
 This Plan has been amended and restated effective January 1, 2005 to comply with the requirements of Section 409A
of the Internal Revenue Code of 1986, as amended (the “Code”). 
  
 The Plan as it existed as of December 31, 2004 (the “Prior Plan”) is hereby frozen and shall not be amended in any manner that would constitute a material modification as defined in Treas. Reg.
§1.409A-6(a)(4). The Prior Plan, as it existed on December 31, 2004 is attached hereto strictly for purpose of reference as Appendix B. The rights, duties and obligations of WellPoint and the Prior Plan Participants with respect to
the Prior Plan shall be governed exclusively by the terms of the Prior Plan. 
  
 ARTICLE I 
 DEFINITIONS 
  
 Section 1.01 Administrator.    The term “Administrator” means the individual or
individuals appointed by the Chief Executive Officer of WellPoint, which individual or individuals shall have the authority to manage and control the operation of this Plan. 
  
 Section 1.02 Beneficiary.    The term “Beneficiary” means, for a Participant, the
individual or individuals designated by that Participant in the last Beneficiary Designation Form executed by that Participant to receive benefits in the event of that Participant’s death. 
  
 Section 1.03 Cash Participation
Account.    The term “Cash Participation Account” means the bookkeeping account maintained by the Company for each Participant reflecting cash Compensation amounts deferred under this Plan (as adjusted from time to
time) and cash dividends on WellPoint Common Stock deferred under this Plan and credited to the Participant’s Phantom Stock Participation Account, plus interest accruing at the Interest Rate on such amounts. 
  
 Section 1.04 Company.    The term
“Company” means and shall include the entities listed on Appendix A. 

 Section 1.05 Compensation.    The term “Compensation” means for
each Participant in any Plan Year the total amount of remuneration (including retainers, meeting fees and, if applicable, incentive compensation) for director services as paid to that Participant by the Company in that Plan Year. 
  
 Section 1.06 Director.    The term
“Director” means each non-employee member of the Board of Directors of the Company. 
  
 Section 1.07 Effective Date.    The term “Effective Date” means January 1, 2005. 
  

Section 1.08 Forms.    The term “Forms” means the forms used by the Company for Plan operation and shall
include the following: 
  
 (a) Enrollment
Form.    The term “Enrollment Form” shall be the form on which a Participant designates the amount and type (i.e. cash or WellPoint Common Stock) of Compensation to be deferred under the Plan and when and how the
Participant’s Participation Account shall be distributed. 
  
 (b) Beneficiary Designation Form.    The term “Beneficiary Designation Form” means the form on which a Participant designates the Participant’s Beneficiary. 
  
 Section 1.09 Interest Rate.    The term
“Interest Rate” means the annual rate of return credited to amounts held in the Participant’s Cash Participation Account. The rate shall change each January 1. The rate shall be equal to the average of the monthly average rates
of the 10-year United States Treasury Notes for the twelve (12) months ending on September 30 immediately preceding such January 1 plus one hundred and fifty (150) basis points; provided, however, that the Company
reserves the right to change the method of determining or to increase or decrease the Interest Rate which is credited to a Participant’s Cash Participation Account as long as the Interest Rate shall not be decreased for periods prior to such
action. 
  
 Section 1.10
Participant.    The term “Participant” means any individual who fulfills the eligibility requirements contained in Article II of this Plan. 
  
 Section 1.11 Participation Account.    The term “Participation Account” means the
Cash Participation Account and/or the Phantom Stock Participation Account, as applicable. A Participation Account is a bookkeeping account and is not required to be funded in any manner. 
  
 Section 1.12 Phantom Stock.    The term “Phantom Stock” means a unit of
measurement equivalent to one (1) share of WellPoint Common Stock, with none of the attendant rights that an WellPoint shareholder has with respect to a share of WellPoint Common Stock, including, without limitation, the right to vote such
share and the right to receive dividends or other distributions thereunder. 
  
 Section 1.13 Phantom Stock Participation Account.    The term “Phantom Stock Participation Account” means the bookkeeping account maintained by the Company for each 

  

 -2- 

 
Participant reflecting WellPoint Common Stock Compensation deferred under this Plan (as adjusted from time to time) and deemed to be invested in Phantom
Stock consistent with Article III. The Phantom Stock Participation Accounts are established solely for accounting purposes and shall not require a segregation of any Company assets. 
  
 Section 1.14 Plan.    The term “Plan” means the plan embodied by this instrument
as now in effect or hereafter amended. 
  
 Section 1.15
Plan Year.    The term “Plan Year” means the calendar year. 
  
 Section 1.16 WellPoint.    The term “WellPoint” means WellPoint, Inc., and any successor thereof. 
  
 Section 1.17 WellPoint Common Stock.    The term “WellPoint Common Stock” means
the common stock of WellPoint. 
  
 ARTICLE II 
 PARTICIPATION IN THE PLAN 
  
 Section 2.01 Eligibility.    As of the Effective Date, all Directors shall be eligible to become Participants in this
Plan; provided, however, that former Directors shall be eligible to participate to the extent they are entitled to consulting fees or continuing director fees. 
  
 Section 2.02 Deferral Amounts. 
  
 (a) Amount of Deferral.    The amount of Compensation to be deferred in a Plan
Year shall be designated by each Participant in the Enrollment Form executed by that Participant for that Plan Year and returned to the Administrator before the beginning of the Plan Year to which it relates; provided, however, that
with respect to any Compensation that is “performance based compensation” under Section 409A of the Code, such election shall be due no later than the June 30 immediately preceding the Plan Year in which such Compensation would
otherwise be paid. For the Plan Year during which a person first becomes eligible to become a Participant, the Participant shall be provided by the Company the opportunity to make a special election for such Plan Year with respect to the
Compensation (other than performance-based compensation) paid in such Plan Year after the date on which the person becomes an eligible Participant by completing and returning to the Administrator an Enrollment Form no later than 30 days after
becoming a Participant. 
  
 (b) No
Changes.    Any election by a Participant to defer Compensation with respect to a particular Plan Year may not be revoked, modified or suspended after the start of that Plan Year, except to the extent permitted under Code
Section 409A and the Treasury Regulations thereunder. 
  
 (c) Crediting of Deferral.    The following rules govern the crediting of the deferral of Compensation under this Plan: 
  
 (i) Compensation deferred by a Participant shall be effected pro-rata from each payment of Compensation
during the Plan Year. 
  

 -3- 

 (ii) For purposes of the allocations described in Article III, the amount of any
Compensation deferred hereunder shall be credited to a Participant’s Cash Participation Account and/or Phantom Stock Participation Account, as required by Article III, on the day, but for the deferral, the deferred Compensation would have been
paid. 
  
 (d) Date of Payout of a
Participant’s Participation Account.    Each Participant must, prior to the start of each Plan Year, elect the manner in which his or her Participation Account attributable to deferrals in a particular Plan Year will be
distributed. Accordingly, the Participant shall make a separate distribution election with respect to each Plan Year by following the procedures described below and by satisfying such additional requirements as the Administrator may determine.

  
 (i) At the same time the Participant files his
or her deferral election for compensation to be earned in the upcoming Plan Year, the Participant must also elect, in writing, on his or her Enrollment Form, which of the distribution options described below will govern the payment of the
Participation Account to which those deferred items of Compensation are credited. 
  
 (ii) A Participant may elect to have his or her Participation Account distributed as of the July 1 following one or more of the
following distribution events: (A) the date of the Participant’s separation from service as a Director, (B) the earlier of the date of the Participant’s death or the Participant’s separation from service, or (C) the
earlier of the date specified by the Participant in his or her Enrollment Form or the date of the Participant’s separation from service. Under distribution option (C), above, the date specified must be least twelve months after the date the
initial deferral election for that Participation Account is filed. 
  
 (iii) A Participant’s Participation Account will be distributed, based on the Participant’s election under (i) above in one of the following forms: (A) a lump sum, (B) five annual
installments, or (C) ten annual installments. The amount of each annual installment will be either the amount (if any) specified by the Participant in his or her selected distribution schedule or the remaining balance of the Participant’s
Participation Account for that Plan Year divided by the number of installments remaining (including the installment to be made). 
  
 (e) Subsequent Election.    A Participant may change the distribution election in effect for Plan Year
Participation Account by submitting that change to the Administrator in writing. No such election shall have any force or effect or become effective until the expiration of the twelve month period measured from the filing date of such election. In
addition, each such election shall be valid only if: 
  
 (i) such election defers any distribution to be made (other than an election to have distribution made upon the Participant’s death) for at least five years after the date that distribution would have otherwise been made or commenced
in the absence of such subsequent election, and 
  

 -4- 

 (ii) in the case of a scheduled distribution to be made pursuant to a date specified by
the Participant, such election is made at least twelve months before the date of the first scheduled distribution. In no event, however, may any change to the distribution election in effect for a Plan Year Participation Account result in any
acceleration of the distribution with respect to that Participation Account. For purposes of this subsection (e), in accordance with the applicable Treasury Regulations, a series of annual installments shall be treated as a single payment.

  
 (f) Default
Rule.    If a Participant fails to complete an Enrollment Form, amounts credited to the Participant’s Participation Account shall automatically be distributed in a single lump sum on the July 1 immediately following
the date on which the Participant ceases to be eligible to participate in this Plan. 
  
 (g) Payment of Small Accounts.    Notwithstanding anything in this Plan to the contrary and only to the extent
permitted under Section 409A of the Code, if a Participant becomes entitled to a distribution of his or her Participation Account by reason of his or her termination of eligibility to participate in this Plan and the value of the
Participant’s Participation Account balance is equal to or less than $10,000, then the Administrator may, in its sole discretion, pay to the Participant his or her entire Participation Account balance in a single lump sum cash payment. Any such
payment will be made as soon as administratively feasible following the Participant’s termination of eligibility to participate in this Plan and before the later of: 
  
 (i) December 31 of the calendar year in which the Participant’s termination of eligibility to
participate in this Plan occurs, or 
  
 (ii) the
fifteenth (15th) day of the third month following the Participant’s termination of eligibility to
participate in this Plan. 
  
 ARTICLE III 
 PARTICIPATION ACCOUNTS 
  
 Section 3.01 Deferral of Compensation.    All cash Compensation deferred hereunder shall be credited to the
Participant’s Cash Participation Account and all WellPoint Common Stock Compensation deferred hereunder shall be credited in Phantom Stock to the Participant’s Phantom Stock Participation Account. 
  
 Section 3.02 Cash Participation
Account.    Any monies credited to a Participant’s Cash Participation Account shall be credited with interest at the Interest Rate, earned daily, posted monthly and compounded annually, on the amounts held in such Cash
Participation Account. At the end of the deferral period elected by the Participant, the Company, consistent with Section 2.02, shall pay the Participant in cash the value of the Participant’s Cash Participation Account. 
  

 -5- 

 Section 3.03 Phantom Stock Participation Account.    An amount of
Phantom Stock equal to the number of shares of WellPoint Common Stock Compensation deferred hereunder shall be credited to a Participant’s Phantom Stock Participation Account. If at any time there is Phantom Stock credited to a
Participant’s Phantom Stock Participation Account and there is a cash dividend on WellPoint Common Stock, then an amount equal to the cash dividend shall be paid on the Phantom Stock held in the Participant’s Phantom Stock Participation
Account as if a share of Phantom Stock was a share of WellPoint Common Stock, by crediting such amount to the Participant’s Cash Participation Account. The number of shares of Phantom Stock allocated to the Participant’s Phantom Stock
Participation Account shall be adjusted by the Administrator, as it deems appropriate in its discretion, in the event of any subdivision or combination of shares of WellPoint Common Stock or any stock dividend, stock split, reorganization,
recapitalization, or consolidation or merger with WellPoint, as the surviving corporation, or if additional shares or new or different shares or other securities of WellPoint or any other issuer are distributed with respect to shares of WellPoint
Common Stock through a spin-off or other extraordinary distribution, as if such Phantom Stock were shares of WellPoint Common Stock. At the end of the deferral period elected by the Participant, the Company, consistent with Section 2.02, shall
pay the Participant in shares of WellPoint Common Stock the number of shares of Phantom Stock credited to the Participant’s Phantom Stock Participation Account. 
  
 ARTICLE IV 
 DEATH BENEFITS 
  
 If a Participant dies prior to
the commencement of the Participant’s benefits under Article II, the Beneficiary of that Participant, as determined pursuant to the last Beneficiary Designation Form executed by that Participant, shall receive the balance contained in his
Participation Account in cash and/or in WellPoint Common Stock, as applicable, in a single payment on the July 1 immediately following the Participant’s death. If a Participant dies after the commencement of the Participant’s benefits
under Article III, payment of any remaining installments due shall be made to the Participant’s Beneficiary at the same times that the installments would have been paid to the Participant. 
  
 ARTICLE V 
 ADMINISTRATION 
  
 Section 5.01 Delegation of Responsibility.    The Company may delegate duties involved in the administration of this Plan to such person or persons whose services are deemed by it to be
necessary or convenient. 
  
 Section 5.02 Payment of
Benefits.    The amounts allocated to a Participant’s Participation Account and payable as benefits under this Plan shall be paid solely from the general assets of the Company. The Plan is unfunded. Any Compensation paid
in WellPoint Common Stock deferred 

  

 -6- 

 
under this Plan and converted into Phantom Stock shall, on the date on which such deferred WellPoint Common Stock is to be distributed pursuant to this Plan,
converted back into WellPoint Common Stock and be paid in WellPoint Common Stock pursuant to the plan, agreement or arrangement under which such Compensation was paid; provided, however, fractional shares shall not be issued to a
Participant but the value of such fractional shares shall be paid in cash. The payment of benefit obligation shall be allocated among the Companies based on the portion of the Compensation which would have been paid by the applicable Company but for
the deferral. No Participant shall have any interest in any specific assets of the Company under the terms of this Plan. This Plan shall not be considered to create an escrow account, trust fund or other funding arrangement of any kind or a
fiduciary relationship between any Participant and the Company. The Companies’ obligations under this Plan are purely contractual and shall not be funded or secured in any way. 
  
 Section 5.03 Administration.    Except as otherwise provided in the Plan, the Plan shall be
administered by the Administrator, which shall have the final authority to adopt rules and regulations for carrying out the Plan, and to interpret, construe, and implement the provisions of the Plan. 
  
 Section 5.04 Liability.    Any decision made
or action taken by the Board of Directors, the Administrator, or any employee of the Company or any of its subsidiaries, arising out of or in connection with the construction, administration, interpretation, or effect of the Plan, shall be
absolutely discretionary, and shall be conclusive and binding on all parties. Neither the Administrator nor a member of the Board of Directors and no employee of the Company or any of its subsidiaries shall be liable for any act or action hereunder,
whether of omission or commission, by any other member or employee or by any agent to whom duties in connection with the administration of the Plan have been delegated or, except in circumstances involving bad faith, for anything done or omitted to
be done. 
  
 ARTICLE VI 
 AMENDMENT OR TERMINATION OF PLAN 
  
 Section 6.01 Termination.    The Company may at any time terminate this Plan. As of the date on which this Plan is
terminated, no additional amounts shall be deferred from any Participant’s Compensation. The Company shall pay to each such Participant the balance contained in the Participant’s Participation Account at such time designated by that
Participant in the Forms executed by that Participant; provided, however, that the Administrator, in its sole and complete discretion, may direct the Company to pay out to the Participants their Participation Accounts in a single
payment of cash and/or WellPoint Common Stock, as applicable, as soon as practicable after the Plan termination. 
  
 Section 6.02 Amendment.    The Company may amend the provisions of this Plan at any time; provided, however,
that no amendment shall adversely affect the rights of Participants or their Beneficiaries with respect to the balances contained in their Participation Accounts immediately prior to the amendment. 
  

 -7- 

 ARTICLE VII 
 MISCELLANEOUS 
  
 Section 7.01 Successors.    This Plan shall be binding upon the successors of the Company. 
  
 Section 7.02 Choice of Law.    This Plan shall be construed and interpreted pursuant to, and in accordance with, the laws
of the State of Indiana. 
  
 Section 7.03 No Service
Contract.    This Plan shall not be construed as affecting in any manner the rights or obligations of the Company or of any Participant to continue or to terminate director status at any time. 
  
 Section 7.04 Non-Alienation. No Participant or such
Participant’s Beneficiary shall have any right to anticipate, pledge, alienate, assign, sell or otherwise transfer (except by will or applicable laws of descent and distribution) any of such Participant’s rights under this Plan, and any
effort to do so shall be null and void. The benefits payable under this Plan shall be exempt from the claims of creditors or other claimants and from all orders, decrees, levies and executions and any other legal process to the fullest extent that
may be permitted by law. 
  
 Section 7.05
Disclaimer.    The Company makes no representations or assurances and assumes no responsibility as to the performance by any parties, solvency, compliance with state and federal securities regulation or state and federal tax
consequences of this Plan or participation therein. It shall be the responsibility of the respective Participants to determine such issues or any other pertinent issues to their own satisfaction. 
  
 Section 7.06 Designation of
Beneficiaries.    Each Participant shall designate in such Participant’s Beneficiary Designation Form such Participant’s Beneficiary and such Participant’s contingent Beneficiary to whom death benefits due
hereunder at the date of such Participant’s death shall be paid; provided, however, that the Beneficiary and contingent Beneficiary designated by a Participant in the last Beneficiary Designation Form executed by that Participant
shall supersede all other Beneficiary or contingent Beneficiary designations made by that Participant in any earlier Beneficiary Designation Form executed by that Participant. If any Participant fails to designate a Beneficiary or if the designated
Beneficiary predeceases any Participant, death benefits due hereunder at that Participant’s death shall be paid to the deceased Participant’s contingent Beneficiary or, if none, to the deceased Participant’s surviving spouse, if any,
and if none to the deceased Participant’s estate. 
  
 Section 7.07 Ownership of Shares.    A Participant shall have no rights as a shareholder of WellPoint Common Stock with respect to any shares of WellPoint Common Stock until the shares of WellPoint Common
Stock are issued or transferred to the Participant on the books of WellPoint. 
  

 -8- 

 This Plan has been executed on this 22nd day of December, 2005. This Plan, as amended and restated herein, shall be effective as of January 1, 2005. Nothing herein shall invalidate or adversely
affect any previous election, designation, deferral, or accrual in accordance with the terms of this Plan that were in effect prior to the effective date of this amended and restated Plan. 
  

			
	 WELLPOINT, INC.

		
	 By:
	 	 /s/ Larry C. Glasscock

	 Its:
	 	 Chairman, President and Chief Executive Officer

  

 -9- 

 APPENDIX A 
  

WELLPOINT 
 BOARD OF DIRECTORS’

 DEFERRED COMPENSATION PLAN 
 LIST
OF PARTICIPATING COMPANIES 
  
 1. WellPoint, Inc. 
  

 A-1 

 APPENDIX B 
  

 
 ANTHEM 
  
 BOARD OF DIRECTORS’ 
  
 DEFERRED COMPENSATION PLAN 
  
 (AS FROZEN DECEMBER 31, 2004) 
  

 B-1 

 ANTHEM 
 BOARD OF DIRECTORS’ 
 DEFERRED COMPENSATION PLAN 
 (AS FROZEN DECEMBER 31, 2004) 
  
 PREAMBLE 
  
 The Anthem Board of Directors’ Deferred Compensation Plan (the “Plan”) is an unfunded supplemental retirement plan for directors of Anthem,
Inc. (“Anthem”) and such other subsidiaries and affiliates of Anthem which have adopted the Plan and which are listed on Appendix A. 
  
 ARTICLE I 
 DEFINITIONS

  
 Section 1.01
Administrator.    The term “Administrator” means the Director Benefits Committee which committee is appointed by the Chief Executive Officer of Anthem and which committee which shall have the authority to manage and
control the operation of this Plan. 
  
 Section 1.02
Anthem.    The term “Anthem” means Anthem, Inc., and any successor thereof. 
  
 Section 1.03 Anthem Common Stock.    The term “Anthem Common Stock” means the common stock of Anthem.

  
 Section 1.04
Beneficiary.    The term “Beneficiary” means, for a Participant, the individual or individuals designated by that Participant in the last Beneficiary Designation Form executed by that Participant to receive benefits
in the event of that Participant’s death. 
  
 Section 1.05 Cash Participation Account.    The term “Cash Participation Account” means the bookkeeping account maintained by the Company for each Participant reflecting cash Compensation amounts
deferred under this Plan (as adjusted from time to time) and cash dividends on Anthem Common Stock deferred under this Plan and credited to the Participant’s Phantom Stock Participation Account, plus interest accruing at the Interest Rate on
such amounts. 
  
 Section 1.06
Company.    The term “Company” means and shall include the entities listed on Appendix A. 
  
 Section 1.07 Compensation.    The term “Compensation” means for each Participant in any Plan Year the total
amount of remuneration (including retainers, meeting fees and, if applicable, incentive compensation) for director services as paid to that Participant by the Company in that Plan Year. 
  
 Section 1.08 Director.    The term “Director” means each non-employee member of
the Board of Directors of the Company. 

 Section 1.09 Effective Date.    The term “Effective Date” means
January 1, 1999. 
  
 Section 1.10
Forms.    The term “Forms” means the forms used by the Company for Plan operation and shall include the following: 
  
 (a) Enrollment Form.    The term “Enrollment Form” shall be the form on which a Participant
designates the amount and type (i.e. cash or Anthem Common Stock) of Compensation to be deferred under the Plan. 
  
 (b) Beneficiary Designation Form.    The term “Beneficiary Designation Form” means the form on which
a Participant designates the Participant’s Beneficiary. 
  
 (c) Distribution Election Form.    The term “Distribution Election Form” means the form on which a Participant designates when and how the Participant’s Participation Account
shall be distributed. 
  
 Section 1.11 Interest
Rate.    The term “Interest Rate” means the annual rate of return credited to amounts held in the Participant’s Cash Participation Account. The rate shall change each January 1. The rate shall be equal to
the average of the monthly average rates of the 10-year United States Treasury Notes for the twelve (12) months ending on September 30 immediately preceding such January 1 plus one hundred and fifty (150) basis points;
provided, however, that the Company reserves the right to change the method of determining or to increase or decrease the Interest Rate which is credited to a Participant’s Cash Participation Account as long as the Interest Rate
shall not be decreased for periods prior to such action. 
  
 Section 1.12 Participant.    The term “Participant” means any individual who fulfills the eligibility requirements contained in Article II of this Plan. 
  
 Section 1.13 Participation Account.    The
term “Participation Account” means the Cash Participation Account and/or the Phantom Stock Participation Account, as applicable. A Participation Account is a bookkeeping account and is not required to be funded in any manner. 

 
 Section 1.14 Phantom Stock.    The term
“Phantom Stock” means a unit of measurement equivalent to one (1) share of Anthem Common Stock, with none of the attendant rights that an Anthem shareholder has with respect to a share of Anthem Common Stock, including, without
limitation, the right to vote such share and the right to receive dividends or other distributions thereunder. 
  
 Section 1.15 Phantom Stock Participation Account.    The term “Phantom Stock Participation Account” means the
bookkeeping account maintained by the Company for each Participant reflecting Anthem Common Stock Compensation deferred under this Plan (as adjusted from time to time) and deemed to be invested in Phantom Stock consistent with Article III. The
Phantom Stock Participation Accounts are established solely for accounting purposes and shall not require a segregation of any Company assets. 
  

 B-3 

 Section 1.16 Plan.    The term “Plan” means the plan embodied
by this instrument as now in effect or hereafter amended. 
  
 Section 1.17 Plan Year.    The term “Plan Year” means the calendar year. 
  
 ARTICLE II 
 PARTICIPATION IN THE PLAN

  
 Section 2.01
Eligibility.    As of the Effective Date, all Directors shall be eligible to become Participants in this Plan; provided, however, that former Directors shall be eligible to participate to the extent they are
entitled to consulting fees or continuing director fees. 
  
 Section 2.02 Deferral Amounts. 
  
 (a) Amount of Deferral.    The amount of Compensation to be deferred in a Plan Year shall be designated by each Participant in the Enrollment Form executed by that Participant for that Plan Year prior to the
beginning of that Plan Year and within the time period established by Administrator. 
  
 (b) Special Rules for New Directors.    For the Plan Year during which a person first becomes eligible to
become a Participant, the Participant shall be provided by the Company the opportunity to make a special election for such Plan Year with respect to the Compensation paid in such Plan Year after the date on which the person becomes an eligible
Participant. 
  
 (c) Timing of
Deferral.    The following rules govern the timing of the deferral of Compensation under this Plan: 
  
 (i) Compensation deferred by a Participant shall be effected pro-rata from each payment of Compensation during the Plan Year. 

 
 (ii) For purposes of the allocations described in Article
III, the amount of any Compensation deferred hereunder shall be credited to a Participant’s Cash Participation Account and/or Phantom Stock Participation Account, as required by Article III, on the day, but for the deferral, the deferred
Compensation would have been paid. 
  
 (d) Date
of Payout of a Participant’s Participation Account.    The date on which a Participant’s Participation Account attributable to deferrals in a Plan Year is to be distributed to that Participant under the provisions
of this Plan shall be designated by that Participant in the most recent Distribution Election Form executed by that Participant. The distribution options available to a Participant shall include: 
  
 (i) lump sum, or 
  
 (ii) five (5) or ten (10) annual installments

  

 B-4 

 The Participant shall designate in the Distribution Election Form the year in which distribution is to be made or begin.
Any lump sum payment or installment under this Plan for a Plan Year shall be made on or about July 1. 
  
 (e) Special Rules.    Notwithstanding anything contained in this Article II to the contrary, the following
special rules shall govern distributions made under this Plan; 
  
 (i) A Participant shall be permitted to change the date on which the Participant’s Participation Account shall be distributed by completing a new Distribution Election Form which is delivered to the Company at
least one (1) calendar year before the earlier of the date on which the Participant ceases to be a Director or the date on which distribution of the Participant’s Participation Account would have been made but for the change in election;
provided, however, that any completed Distribution Election Form which was not received prior to the beginning of the one (1) year period described above shall be null and void. 
  
 (ii) If the aggregate amount in a Participant’s
Participation Account on the initial installment date is equal to or less than fifty-five thousand dollars ($55,000) in value, payment of the Participant’s Participation Account shall be required to be made in a single lump sum. 
  
 (iii) If a Participant fails to complete a Distribution
Election Form, amounts credited to the Participant’s Participation Account shall automatically be distributed in a single lump sum on the July 1 immediately following the date on which the Participant ceases to be eligible to participate
in this Plan. 
  
 (iv) With respect to any amounts
credited to a Participant’s Participation Account attributable to deferrals made before January 1, 1999 and except as otherwise provided in Subsection (ii) above, any quarterly or annual installment election made by the Participant
prior to January 1, 1999 shall be given effect. 
  
 ARTICLE
III 
 PARTICIPATION ACCOUNTS 
  
 Section 3.01 Deferral of Compensation.    All cash Compensation deferred hereunder shall be credited to the
Participant’s Cash Participation Account and all Anthem Common Stock Compensation deferred hereunder shall be credited in Phantom Stock to the Participant’s Phantom Stock Participation Account. 
  
 Section 3.02 Cash Participation
Account.    Any monies credited to a Participant’s Cash Participation Account shall be credited with interest at the Interest Rate, earned daily, posted monthly and compounded annually, on the amounts held in such Cash
Participation Account. At the end of the deferral period elected by the Participant, the Company, consistent with Section 2.02, shall pay the Participant in cash the value of the Participant’s Cash Participation Account. 
  

 B-5 

 Section 3.03 Phantom Stock Participation Account.    An amount of Phantom
Stock equal to the number of shares of Anthem Common Stock Compensation deferred hereunder shall be credited to a Participant’s Phantom Stock Participation Account. If at any time there is Phantom Stock credited to a Participant’s Phantom
Stock Participation Account and there is a cash dividend on Anthem Common Stock, then an amount equal to the cash dividend shall be paid on the Phantom Stock held in the Participant’s Phantom Stock Participation Account as if a share of Phantom
Stock was a share of Anthem Common Stock, by crediting such amount to the Participant’s Cash Participation Account. The number of shares of Phantom Stock allocated to the Participant’s Phantom Stock Participation Account shall be adjusted
by the Administrator, as it deems appropriate in its discretion, in the event of any subdivision or combination of shares of Anthem Common Stock or any stock dividend, stock split, reorganization, recapitalization, or consolidation or merger with
Anthem, as the surviving corporation, or if additional shares or new or different shares or other securities of Anthem or any other issuer are distributed with respect to shares of Anthem Common Stock through a spin-off or other extraordinary
distribution, as if such Phantom Stock were shares of Anthem Common Stock. At the end of the deferral period elected by the Participant, the Company, consistent with Section 2.02, shall pay the Participant in shares of Anthem Common Stock the
number of shares of Phantom Stock credited to the Participant’s Phantom Stock Participation Account. 
  
 ARTICLE IV 
 DEATH BENEFITS 
  
 If a Participant dies prior to the commencement of the Participant’s
benefits under Article II, the Beneficiary of that Participant, as determined pursuant to the last Beneficiary Designation Form executed by that Participant, shall receive the balance contained in his Participation Account in cash and/or in Anthem
Common Stock, as applicable, in a single payment on the July 1 immediately following the Participant’s death. If a Participant dies after the commencement of the Participant’s benefits under Article III, payment of any remaining
installments due shall be made to the Participant’s Beneficiary at the same times that the installments would have been paid to the Participant. 
  
 ARTICLE V 
 ADMINISTRATION

  
 Section 5.01 Delegation of
Responsibility.    The Company may delegate duties involved in the administration of this Plan to such person or persons whose services are deemed by it to be necessary or convenient. 
  
 Section 5.02 Payment of Benefits.    The
amounts allocated to a Participant’s Participation Account and payable as benefits under this Plan shall be paid solely from the general assets of the Company. The Plan is unfunded. Any Compensation paid in Anthem Common Stock deferred under
this Plan and converted into Phantom Stock shall, on the date on which such deferred Anthem Common Stock is to be distributed pursuant to this Plan, converted back into Anthem Common Stock and be paid in Anthem Common Stock pursuant to the plan,
agreement or arrangement under 

  

 B-6 

 
which such Compensation was paid; provided, however, fractional shares shall not be issued to a Participant but the value of such fractional
shares shall be paid in cash. The payment of benefit obligation shall be allocated among the Companies based on the portion of the Compensation which would have been paid by the applicable Company but for the deferral. No Participant shall have any
interest in any specific assets of the Company under the terms of this Plan. This Plan shall not be considered to create an escrow account, trust fund or other funding arrangement of any kind or a fiduciary relationship between any Participant and
the Company. The Companies’ obligations under this Plan are purely contractual and shall not be funded or secured in any way. 
  
 Section 5.03 Administration.    Except as otherwise provided in the Plan, the Plan shall be administered by the
Administrator, which shall have the final authority to adopt rules and regulations for carrying out the Plan, and to interpret, construe, and implement the provisions of the Plan. 
  
 Section 5.04 Liability.    Any decision made or action taken by the Board of Directors, the
Administrator, or any employee of the Company or any of its subsidiaries, arising out of or in connection with the construction, administration, interpretation, or effect of the Plan, shall be absolutely discretionary, and shall be conclusive and
binding on all parties. Neither the Administrator nor a member of the Board of Directors and no employee of the Company or any of its subsidiaries shall be liable for any act or action hereunder, whether of omission or commission, by any other
member or employee or by any agent to whom duties in connection with the administration of the Plan have been delegated or, except in circumstances involving bad faith, for anything done or omitted to be done. 
  
 ARTICLE VI 
 AMENDMENT OR TERMINATION OF PLAN 
  
 Section 6.01 Termination.    The Company may at any time terminate this Plan. As of the date on which this Plan is terminated, no additional amounts shall be deferred from any
Participant’s Compensation. The Company shall pay to each such Participant the balance contained in the Participant’s Participation Account at such time designated by that Participant in the Forms executed by that Participant;
provided, however, that the Administrator, in its sole and complete discretion, may direct the Company to pay out to the Participants their Participation Accounts in a single payment of cash and/or Anthem Common Stock, as applicable,
as soon as practicable after the Plan termination. 
  
 Section 6.02 Amendment.    The Company may amend the provisions of this Plan at any time; provided, however, that no amendment shall adversely affect the rights of Participants or their
Beneficiaries with respect to the balances contained in their Participation Accounts immediately prior to the amendment. 
  
 ARTICLE VII 
 MISCELLANEOUS

  
 Section 7.01
Successors.    This Plan shall be binding upon the successors of the Company. 
  

 B-7 

 Section 7.02 Choice of Law.    This Plan shall be construed and
interpreted pursuant to, and in accordance with, the laws of the State of Indiana. 
  
 Section 7.03 No Service Contract.    This Plan shall not be construed as affecting in any manner the rights or obligations of the Company or of any Participant to continue or to
terminate director status at any time. 
  
 Section 7.04
Non-Alienation.    No Participant or such Participant’s Beneficiary shall have any right to anticipate, pledge, alienate, assign, sell or otherwise transfer (except by will or applicable laws of descent and distribution)
any of such Participant’s rights under this Plan, and any effort to do so shall be null and void. The benefits payable under this Plan shall be exempt from the claims of creditors or other claimants and from all orders, decrees, levies and
executions and any other legal process to the fullest extent that may be permitted by law. 
  
 Section 7.05 Disclaimer.    The Company makes no representations or assurances and assumes no responsibility as to the performance by any parties, solvency, compliance with state and
federal securities regulation or state and federal tax consequences of this Plan or participation therein. It shall be the responsibility of the respective Participants to determine such issues or any other pertinent issues to their own
satisfaction. 
  
 Section 7.06 Designation of
Beneficiaries.    Each Participant shall designate in such Participant’s Beneficiary Designation Form such Participant’s Beneficiary and such Participant’s contingent Beneficiary to whom death benefits due
hereunder at the date of such Participant’s death shall be paid; provided, however, that the Beneficiary and contingent Beneficiary designated by a Participant in the last Beneficiary Designation Form executed by that Participant
shall supersede all other Beneficiary or contingent Beneficiary designations made by that Participant in any earlier Beneficiary Designation Form executed by that Participant. If any Participant fails to designate a Beneficiary or if the designated
Beneficiary predeceases any Participant, death benefits due hereunder at that Participant’s death shall be paid to the deceased Participant’s contingent Beneficiary or, if none, to the deceased Participant’s surviving spouse, if any,
and if none to the deceased Participant’s estate. 
  
 Section 7.07 Ownership of Shares.    A Participant shall have no rights as a shareholder of Anthem Common Stock with respect to any shares of Anthem Common Stock until the shares of Anthem Common Stock are
issued or transferred to the Participant on the books of Anthem. 
  

 B-8 

 This Plan has been executed on this 29 day of August, 2003. This Plan was effective on January 1,
1999. This Plan, as amended and restated herein, shall be effective as of January 1, 2004. Nothing herein shall invalidate or adversely affect any previous election, designation, deferral, or accrual in accordance with the terms of this Plan
that were in effect prior to the effective date of this amended and restated Plan. 
  

			
	 ANTHEM, INC.

		
	 By:
	 	 /s/ Larry C. Glasscock

	 Its:
	 	 President and Chief Executive Officer

  

 B-9 

 APPENDIX A 
  

ANTHEM 
 BOARD OF DIRECTORS’ 

DEFERRED COMPENSATION PLAN 
 LIST OF
PARTICIPATING COMPANIES 
  
 1. Anthem, Inc. 
  

 B-10

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