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AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
EXECUTIVE RETIREMENT SAVINGS PLAN
Effective as of January 1, 2019

ARTICLE I - PURPOSE; EFFECTIVE DATE
1.1.     Purpose.  The purpose of this Executive Retirement Savings Plan (the “Plan”) is to provide a select group of highly compensated employees of American Axle & Manufacturing Holdings, Inc. (the “Company,” and together with its subsidiaries, the “Company Group”) and its selected subsidiaries the opportunity to defer the receipt of income that would otherwise be payable to them.  It is intended that the Plan, by providing these eligible persons with these benefits and the deferral of income tax recognition of these benefits, will assist in retaining and attracting individuals of exceptional ability.
1.2.     Effective Date.  It is the intent that all of the amounts contributed under the Plan and benefits provided hereunder will be subject to the terms of Section 409A of the Code, and the Plan shall be effective as of January 1, 2019.

1.3.     Plan Type.  For purposes of Section 409A of the Code, the Plan shall be considered a nonelective account balance plan as defined in Treas. Reg. §1.409A-1(c)(2)(i)(B), or as otherwise provided by the Code.
1.ARTICLE II - DEFINITIONS
For the purpose of the Plan, the following terms shall have the meanings indicated, unless the context clearly indicates otherwise:
2.1.401(k) Plan.  “401(k) Plan” means the Company’s 401(k) Savings Plan.
2.2.Account.  “Account” means the account or accounts maintained on the books of the Company used solely to calculate the amount payable to each Participant under the Plan and shall not constitute a separate fund of assets.  An Account shall be deemed to exist from the time amounts are first credited to an Account until such time that the entire Account balance has been distributed in accordance with the Plan.
2.3.Administrator. “Administrator” means the Management Benefits Committee acting through the Company’s Human Resources Department in the administration of the Plan pursuant to Section 7.2.
2.4.Beneficiary.  “Beneficiary” means the person, persons or entity as designated by the Participant, or who is otherwise entitled under Article VI, to receive any Plan benefits payable after the Participant’s death.
2.5.Board.  “Board” means the Board of Directors of the Company, or any successor thereto.
2.6.Cause.  “Cause” means with respect to a Participant, unless otherwise defined in the employment agreement of the Participant, any of the following: (a) the Participant’s willful and continued failure or refusal to perform the duties reasonably required of him or her to the Company Group;  (b) the Participant’s conviction of, or plea of nolo contendere to any felony or another crime involving dishonesty or moral turpitude or which reflects negatively upon the Company or its Subsidiaries or affiliates or otherwise impairs or impedes its operations; (c) the Participant’s engagement in any willful misconduct, gross negligence, act of dishonesty, violence or threat of violence (including any violation of federal securities laws) that is injurious to the Company Group; (d) the Participant’s material breach of any applicable agreement with or policy of the 
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Company Group; (e) the Participant’s material failure to comply with any applicable laws and regulations or professional standards relating to the business of the Company Group; or (f) any other misconduct by the Participant that is injurious to the financial condition or business reputation of the Company Group.
2.7.Code.  “Code” means the Internal Revenue Code of 1986, as it may be amended from time to time and as interpreted by regulations and rulings issued pursuant to the Code.  Any references to a specific provision shall be deemed to include references to any successor Code provision.
2.8.Company.  “Company” means American Axle & Manufacturing Holdings, Inc. and any successor.
2.9.Compensation Committee.  “Compensation Committee” means the Compensation Committee of the Board. 
2.10.Determination Date.  “Determination Date” means any business day on which the New York Stock Exchange is open for trading.
2.11.Disability.  “Disability” shall mean either of the following: (a) inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months; or (b) by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Company Group.
2.12.Distribution Election.  “Distribution Election” means the form prescribed by the Management Benefits Committee and completed by the Participant, indicating the chosen form of payment for benefits payable from the Participant’s Account, as elected by the Participant.
2.13.Eligible Person.  “Eligible Person” means (a) US-based executives of the Company Group having the title of Vice President and above and (b) any other US-based employee of the Company Group designated by the Compensation Committee consistent with Section 10.1.
2.14.ERSP Contribution.  “ERSP Contribution” means the Company contribution credited to a Participant’s Account under Section 4.4.
2.15.Executive Officer.  “Executive Officer” means any executive whose compensation must be reviewed and approved by the Compensation Committee.
2.16.Interest.  “Interest” means the amount credited to or debited against a Participant’s Account on a Determination Date, which shall be based on the Valuation Funds chosen by the Participant pursuant to Section 4.3, in order to reflect the increase or decrease in value of the Account in accordance with the provisions of the Plan.
2.17.Management Benefits Committee.  “Management Benefits Committee” means the committee appointed by the Compensation Committee to govern and monitor the administration of the Plan pursuant to Section 7.1.
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2.18.Management Investment Committee. “Management Investment Committee” means the committee appointed by the Compensation Committee to govern and monitor all Plan assets and investments. 
2.19.Participant.  “Participant” means (i) any Eligible Person identified in Section 2.13(a) and (ii) any Eligible Person designated by the Compensation Committee in accordance with Section 2.13(b).
2.20.Plan. “Plan” means this Executive Retirement Savings Plan, as amended from time to time.
2.21.Plan Year. “Plan Year” shall mean a calendar year (January 1-December 31).
2.22.Retirement. “Retirement” means a Participant’s voluntary resignation at any time (a) after attaining age 65, (b) after attaining age 55 but prior to age 65 with ten or more years of continuous service with the Company Group, or (c) after attaining age 60 but prior to age 65 with five or more years of continuous service with the Company Group.
2.23.Termination.  “Termination”, “terminates employment” or any other similar such phrase means the Participant’s “separation from service” with the Company Group, for any reason, within the meaning of Section 409A of the Code. 
2.24.Unforeseeable Emergency.  “Unforeseeable Emergency” means an event that results in a severe financial hardship to the Participant resulting from (a) an illness or accident of the Participant, the Participant’s spouse, the Participant’s beneficiary or a dependent of the Participant, (b) loss of the Participant’s property due to casualty or (c) other similar extraordinary and unforeseeable circumstances as a result of events beyond the control of the Participant, in each case in compliance with Section 409A of the Code.  
2.25.Valuation Funds.  “Valuation Funds” means one or more of the independently established funds or indices that are approved by the Management Investment Committee.  These Valuation Funds are used solely to calculate the Interest that is credited to each Participant’s Account in accordance with Article IV, and the term “Valuation Funds” does not represent, nor should it be interpreted to convey, any beneficial interest on the part of the Participant in any asset or other property of the Company or any member of the Company Group. The determination of the increase or decrease in the performance of each Valuation Fund shall be made by the Management Investment Committee in its reasonable discretion.  The Management Investment Committee shall select the various Valuation Funds available to the Participants and may add or remove any Valuation Funds on a prospective basis at any time in its sole discretion.
ARTICLE III - ELIGIBILITY AND PARTICIPATION
3.1.Eligibility and Participation.
a)Eligibility. All US-based executives of the Company Group having the title of Vice President and above shall be Eligible Persons. With respect to other employees of the Company, the Compensation Committee shall designate those employees of the Company Group who are Eligible Persons. 
b)Participation.  An individual’s participation in the Plan shall be effective upon the date such individual becomes an Eligible Person.
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3.2.Participant Elections.  No more than 30 days after a Participant is first designated as a Participant as set forth in Section 3.1(b) (or if such Participant was prior to such designation participating in another nonelective account balance plan of the Company Group, the first date on which such Participant may make such election in compliance with Section 409A of the Code), the Participant may submit the following forms to the Administrator:
a)Distribution Election.  The Participant may submit a Distribution Election, on which the Participant shall elect a form of payment to be made with respect to the Participant’s Account.  The Participant may submit a new Distribution Election at any time prior to the end of the 30-day period referenced in this Section 3.2, and the Distribution Election most recently filed at the end of such 30-day period shall be irrevocable.  In the event that a Participant does not timely submit a properly completed Distribution Election, the form of payment deemed to be elected will be a lump sum.
b)Allocation Election.  The Participant may submit an allocation form, which shall provide instructions on how the ERSP Contributions credited to the Participant’s Account shall be allocated among the various available Valuation Funds.  In the event that a Participant does not submit a timely and properly completed allocation form, the Administrator shall allocate the ERSP Contributions to the default Valuation Fund designated by the Management Benefits Committee until a properly completed allocation form is submitted.
3.3.Subsequent Distribution Election.  Except to the extent otherwise required or permitted under Section 409A of the Code, the Participant shall not be permitted to change or revoke the form of payment with respect to his or her Account on or after the date on which such election would otherwise be irrevocable under Section 3.2(a) unless all of the following requirements are satisfied with respect to such Participant’s subsequent election to change the form of payment:  (i) such election shall not take effect until 12 months after the date on which the election is made; (ii) such election shall not apply to any scheduled distribution date that occurs 12 months or less after the date on which the election is made; and (iii) except in the case of a payment due to death, as described in Section 5.2, or Disability, as described in Section 5.3, the payment with respect to which such election is made must be deferred for a period of five years from the date such payment would otherwise have been paid (or in the case of annual installment payments, five years from the date the first annual installment payment would otherwise have been scheduled to be paid). A Participant may only make one subsequent Distribution Election under this Section 3.3, with respect to his or her Account.
ARTICLE IV - DEFERRED COMPENSATION ACCOUNT
4.1.Accounts.  The ERSP Contributions and Interest thereon shall be credited to the Participant’s Account as otherwise provided in this Article IV.  The Participant’s Account shall be used solely to calculate the amount payable to the Participant under the Plan and shall not constitute a separate fund of assets.
4.2.Timing of Credits; Withholding.  Any ERSP Contributions shall be credited to a Participant’s Account as of a time and in a manner provided by the Administrator, but typically as soon as practicable in the first quarter of the calendar year following the Plan Year to which such ERSP Contribution relates.  Any taxes with respect to the ERSP Contribution credited to a Participant’s Account that are required to be withheld under local, state or federal law shall be payable by the Participant at the time the credit is made in any manner specified by the Management Benefits 
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Committee. Any Participant who has a Retirement shall receive any final ERSP Contribution prior to the initial benefit payment under Section 5.1(b).  
4.3.Valuation Funds.  A Participant shall be permitted to designate one or more Valuation Funds for the sole purpose of determining the amount of Interest to be credited or debited to the Participant’s Account.  Such election shall designate how each ERSP Contribution shall be allocated among the available Valuation Fund(s).  A Participant shall also be permitted to reallocate the balance in the Participant’s Account among the available Valuation Funds.  The manner in which such elections shall be made and the frequency with which such elections may be changed and the manner in which such elections shall become effective shall be determined in accordance with the procedures adopted by the Management Investment Committee from time to time.
4.4.ERSP Contributions.  A Participant’s Account shall be credited with an ERSP Contribution in accordance with this Section 4.4. 
a)Contribution Amount.  The amount of the ERSP Contribution for any Participant shall be stated as (i) a flat dollar amount, (ii) a percentage of the Participant’s base salary and annual incentive compensation paid while the Participant was an Eligible Person during the applicable Plan Year less the maximum eligible Company matching and non-elective contributions to the 401(k) Plan  during the Plan Year (irrespective of whether the Participant maximized the Company contributions or not) or (iii) a formula as determined by the Compensation Committee in its sole discretion (together, the “ERSP Contribution Formula”).
If a Participant was not an Eligible Person for the entire Plan Year due to one of the following circumstances: (x) a Participant has a Retirement during the Plan Year, which, for the avoidance of doubt, after such Retirement the Participant ceases to be an Eligible Person; (y) a Participant becomes an Eligible Person in the Plan Year; or (z) a vested Participant ceases to be an Eligible Person in the Plan Year but continues to be employed by a member of the Company Group, the Participant may receive a partial contribution for the applicable Plan Year. In such a circumstance, if the ERSP Contribution Formula is stated as a flat dollar amount, it will be prorated (calculated as the flat dollar amount determined by the Compensation Committee or Management Benefits Committee (as applicable) for the applicable Participant multiplied by a fraction, the numerator of which is the Months of the applicable Plan Year during which the applicable Participant was an Eligible Person and the denominator of which is 12). 
The Compensation Committee, in its sole discretion, shall determine the maximum amount of the ERSP Contribution that may be made for a Participant, and may consider any factors it deems relevant in making such determination.  The Management Benefits Committee, in its sole discretion, shall determine the actual amount of the ERSP Contribution to be allocated to a Participant’s Account for each year (or portion thereof), if any, up to the maximum amount approved by the Compensation Committee, except for the Executive Officers, for whom such decision will be made by the Compensation Committee.  
Once established, the ERSP Contribution Formula for any Participant shall remain the same for each succeeding year, unless changed by either the Management Benefits Committee or the Compensation Committee pursuant to their respective authority 
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indicated herein.  Any such changes must be made no later than December 31 and shall apply to the ERSP Contribution made with respect to services performed in the following Plan Year. 
b)Special Contributions.  By way of further clarity, notwithstanding the provisions of Section 4.4(a), the Compensation Committee may make, in its complete and sole discretion, a special contribution on behalf of a Participant to such Participant’s Account with respect to a particular Plan Year in any amount as determined by the Compensation Committee.  Such special contribution may be in addition to or in lieu of any other contribution with respect to the particular Plan Year, as determined by the Compensation Committee in its complete and sole discretion.
c)No Guarantee of Future Contributions.  The designation of any Participant as being eligible to receive an ERSP Contribution in any year shall not be a guarantee of future contributions, and the crediting of any particular level of ERSP Contribution in any year shall not be a guarantee of that level in future years.
4.5.Determination of Accounts.  Each Participant’s Account on a Determination Date shall consist of the balance of the Account as of the immediately preceding Determination Date, adjusted as follows:
a)ERSP Contributions.  Each Account shall be increased by any ERSP Contribution credited since such prior Determination Date as set forth in Section 4.4.
b)Distributions.  Each Account shall be reduced by the amount of each benefit payment made from that Account since the prior Determination Date.  Distributions shall be deemed to have been made proportionally from each of the Valuation Funds maintained within such Account based on the proportion that such Valuation Fund bears to the sum of all Valuation Funds maintained within the Account for that Participant as of the Determination Date immediately preceding the date of payment.
c)Interest.  Each Account shall be increased or decreased by the Interest credited or debited to such Account as though the balance of that Account was invested in the applicable Valuation Funds chosen by the Participant.
4.6.Vesting of Accounts.  Except as otherwise specified by the Management Benefits Committee (with respect to non-Executive Officer Participants) or the Compensation Committee (with respect to Executive Officer Participants) in writing, or as set forth in Section 4.7, each Participant shall be 100% vested in the Participant’s Account, including any Interest thereon, upon the earliest of: (a) death; (b) Disability; or (c)  (i) after attainment of age 65, (ii) after attainment of age 55 but prior to age 65 with ten or more years of continuous service with the Company Group, or (iii) after attainment of age 60 but prior to age 65 with five or more years of continuous service with the Company Group.
4.7.Forfeiture of Accounts.  Any Participant who Terminates employment or ceases to be an Eligible Person other than due to a termination of employment before becoming fully vested in the Participant’s Account shall immediately forfeit the unvested balance of his or her Account.  Any Participant whose employment is terminated for Cause, or whose employment is terminated for any reason at a time when such termination could have been for Cause, shall immediately forfeit the balance of his or her Account, including any vested amounts.  In addition, if a 
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Participant’s employment is not terminated for Cause, but the Management Benefits Committee (with respect to non-Executive Officer Participants) or the Compensation Committee (with respect to Executive Officer Participants) later determines that such termination could have been for Cause if all the facts had been known at the time of such termination, then any unpaid portion of the Participant’s Account shall be immediately forfeited as of the date of such Committee’s determination. For the avoidance of doubt, the Management Benefits Committee (with respect to non-Executive Officer Participants) or the Compensation Committee (with respect to Executive Officer Participants) may determine, in its sole discretion, to not effectuate these forfeitures and provide for alternative vesting or forfeiture terms. 
4.8.Statement of Accounts.  To the extent that the Company does not arrange for a Participant’s Account balance to be accessible online by the Participant, the Administrator shall provide to each Participant a statement showing the balance in the Participant’s Account no less frequently than annually.
ARTICLE V - PLAN BENEFITS
5.1.A Participant’s Account.  The Participant’s vested Account balance shall be distributable to the Participant upon the Participant’s Termination as follows:
a)Form of Payment.  The form of benefit payment shall be that form selected by the Participant in his or her Distribution Election made (or deemed made) pursuant to Section 3.2(a) (as may be amended in accordance with a subsequent Distribution Election under Section 3.3), and as permitted pursuant to Section 5.5.
b)Timing of Payment.  Benefits payable from a Participant’s Account shall be paid (if a lump sum) or commence (if installments) as soon as administratively possible after the first Determination Date that occurs on or following the six-month anniversary of the Participant’s Termination date but no later than December 31 of the calendar year in which such Determination Date occurs.  If installments, each subsequent payment shall occur in the next calendar year following the initial benefit payment.
5.2.Death Benefit. Upon the death of a Participant prior to the commencement of distributions from the Participant’s Account, the Company shall pay to the Participant’s Beneficiary an amount equal to the Participant’s vested Account balance in the form of a lump sum payment as soon as administratively practicable (but in no event more than 90 days) after the Participant’s death.  In the event of the death of the Participant after the commencement of distributions from the Participant’s Account, the remaining unpaid balance of the Participant’s Account shall be paid to the Participant’s Beneficiary in the form of a lump sum as soon as administratively possible (but in no event more than 90 days) after the Participant’s death.  If the Participant’s Beneficiary, estate or legal representative fails to notify the Management Benefits Committee of the death of the Participant in the manner specified in Section 10.9, such that the Company is unable to make timely payment hereunder, then the Company shall not be treated as in breach of the Plan and shall not be liable to the Beneficiary, estate or legal representative for any losses, damages, or other claims resulting from such late payment.
5.3.Disability Distributions.  Upon a finding by the Management Benefits Committee that a Participant has suffered a Disability, the Company shall make a full distribution of the Participant’s Account.  The payment of such distribution shall be made in the form of a lump sum 
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in an amount equal to the Participant’s vested Account balance as soon as administratively practical (but in no event more than 90 days) after the date of such Disability.
5.4.Permitted Acceleration of Payments.  To the extent permitted by Section 409A of the Code, the Management Benefits Committee may, in its sole discretion, accelerate the time or schedule of a distribution under the Plan, such as accelerated distributions to address the payment of employment taxes or early income inclusion that may occur for a Participant’s Account balance.
5.5.Form of Payment.  Unless otherwise specified in this Article V, the benefits payable from a Participant’s Account shall be paid in the form of benefit as provided below, and specified by the Participant in the Distribution Election or as otherwise set forth in Section 3.2(a).  The permitted forms of benefit payments are:
a)   A lump sum amount that is equal to the Participant’s vested Account balance; and
b)   Annual installments for a period of up to 10 years where the annual payment shall be equal to the Participant’s vested Account balance immediately prior to the payment, multiplied by a fraction, the numerator of which is one and the denominator of which commences at the number of annual payments initially chosen and is reduced by one in each succeeding year.  Interest on the unpaid balance shall be based on the most recent allocation among the available Valuation Funds chosen by the Participant, made in accordance with Section 4.3.
5.6.Small Account.  If the Participant’s vested Account balance as of the time the payments are to commence is less than $50,000, then such Account shall be paid in a lump sum, notwithstanding any election by the Participant to the contrary.
5.7.Unforeseeable Emergency Distribution.  The Management Benefits Committee may at any time, upon written request of a Participant, cause to be paid to such Participant, an amount equal to all or any part of the Participant’s vested Account balance if the Management Benefits Committee determines, based on such reasonable evidence that it shall require, that such a payment is necessary for the purpose of alleviating the consequences of an Unforeseeable Emergency.  Payments of amounts because of an Unforeseeable Emergency may not exceed the amount necessary to satisfy the Unforeseeable Emergency plus amounts necessary to pay taxes or penalties reasonably anticipated as a result of the distribution after taking into account the extent to which the Unforeseeable Emergency is or may be relieved through reimbursement or compensation from insurance or otherwise, or by liquidation of the Participant’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship).  The amount of a Participant’s Account shall be reduced by the amount of any Unforeseeable Emergency distribution to the Participant.
5.8.Withholding; Payroll Taxes.  The Company or the applicable member of the Company Group shall withhold from any payment made pursuant to the Plan any taxes required to be withheld from such payments under local, state or federal law.
5.9.Payments in Connection with a Domestic Relations Order.  Notwithstanding anything herein to the contrary, the Company may make distributions to someone other than the Participant if such payment is necessary to comply with a domestic relations order, as defined in Section 414(p)(1)(B) of the Code, involving the Participant.
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5.10.Payment to Guardian.  If a Plan benefit is payable to a minor or a person declared incompetent or to a person incapable of handling the disposition of the property, then the Management Benefits Committee may direct payment to the guardian, legal representative or person having the care and custody of such minor, incompetent or person.  The Management Benefits Committee may require proof of incompetency, minority, incapacity or guardianship as it may deem appropriate prior to distribution.  Such distribution shall completely discharge the Management Benefits Committee and the Company from all liability with respect to such benefit.
5.11.Effect of Payment.  The full payment of the applicable benefit under this Article V shall completely discharge all obligations on the part of the Company to the Participant (and the Participant’s Beneficiary) with respect to the operation of the Plan, and the Participant’s (and the Participant’s Beneficiary’s) rights under the Plan shall terminate.
5.12.Amount of Payment.  Notwithstanding anything herein to the contrary, the amount payable from a Participant’s vested Account balance may be determined and valued within a period of up to 10 business days preceding the date of actual payment.
ARTICLE VI - BENEFICIARY DESIGNATION
6.1.Beneficiary Designation.  Each Participant shall have the right, at any time, to designate one or more persons or entity as a Beneficiary (both primary as well as secondary) to whom benefits under the Plan shall be paid in the event of the Participant’s death prior to complete distribution of the Participant’s vested Account balance.  Each Beneficiary designation shall be in the form prescribed by the Administrator, including through an online designation system, and shall be effective only when filed with the Administrator during the Participant’s lifetime.
6.2.Changing Beneficiary.  Except in instances when the listed Beneficiary is the spouse of the Participant, a Participant may change the Beneficiary designation without the consent of the previously named Beneficiary by filing a new Beneficiary designation with the Administrator during the Participant’s lifetime. If the listed Beneficiary is the spouse of the Participant, the Participant shall obtain such Beneficiary’s consent by the execution of a spousal consent form provided by the Company.  
6.3.No Beneficiary Designation.  If any Participant fails to designate a Beneficiary in the manner provided above, if the designation is void, or if the Beneficiary designated by a deceased Participant dies before the Participant or before complete distribution of the Participant’s benefits, and the Beneficiary designation form does not specify to whom payments should be made in such event, then the Participant’s Beneficiary shall be the Participant’s estate.
6.4.Effect of Payment.  Payment to the Beneficiary shall completely discharge the Company’s obligations under the Plan.
ARTICLE VII - ADMINISTRATION
7.1.Management Benefits Committee. The Compensation Committee shall appoint a Management Benefits Committee for the Plan.
a)Appointment and Removal of Management Benefits Committee. The Management Benefits Committee shall consist of three or more individuals appointed by, and serving at the discretion of, the Compensation Committee.  A member of the Management Benefits Committee may (i) resign upon 30 days’ written notice to the Compensation 
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Committee, or (ii) be removed from the Management Benefits Committee at any time at the discretion of the Compensation Committee.
b)Decisions by Management Benefits Committee. The Management Benefits Committee shall act by majority vote either at a meeting of the Management Benefits Committee or by written consent. Meetings may be attended telephonically.
c)Authority.  The Management Benefits Committee shall:  (i) monitor the performance of the Plan to ensure that the Plan is administered in accordance with its terms and in compliance with applicable law or regulation; (ii) have full and exclusive discretionary authority to determine all questions arising in the administration, application and interpretation of the Plan including the authority to correct any defect or reconcile any inconsistency or ambiguity in the Plan and the authority to determine a Participant’s eligibility to receive a benefit from the Plan and the amount of that benefit; (iii) determine all Claims appeals as set forth in Section 8.1 of the Plan and shall have the authority to determine all questions of fact relating to such an appeal, and any determination by the Management Benefits Committee pursuant to this Section 7.1(c) or Section 8.1 shall be binding and conclusive on all parties; and (iv) have the authority to make Plan amendments as long as such amendments do not have a significant cost impact to the Company.  The Management Benefits Committee may also provide for the adoption of the Plan by an affiliated employer pursuant to such terms and conditions as the Management Benefits Committee, in its discretion, may determine.  The Management Benefits Committee shall have the right to remove an affiliated employer as a Plan sponsor if, in its discretion, it deems such removal to be appropriate.
d)Liability.  No member of the Management Benefits Committee or any other committee to which Plan administrative authority has been delegated, shall be personally liable by reason of any action taken by him or her in good faith or on his or her behalf as the Management Benefits Committee, nor for any mistake in judgment made in good faith.
7.2.Administrator.  The Company shall be the Plan Administrator.  The Administrator shall act on its behalf and perform the duties of the Plan Administrator as set forth herein. The Administrator shall administer the Plan in accordance with all applicable laws and regulations and, except as otherwise expressly provided to the contrary herein, shall have all powers and discretionary authority to carry out that obligation. Specifically, but not by way of limitation, the Administrator shall:
a)Procedures and Forms. Establish such administrative procedures and prepare, or cause to be prepared, such forms, as may be necessary or desirable for the proper administration of the Plan;
b)Advisors. Retain the services of such consultants and advisors as may be appropriate to the administration of the Plan;
c)Payment of Benefits. Direct, or establish procedures for, the payment of benefits from the Plan; and
d)Plan Records. Maintain, or cause to be maintained, all documents and records necessary or appropriate to the maintenance of the Plan.
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7.3.Binding Effect of Decisions.  The decision or action of any member of the Management Benefits Committee with respect to any question arising out of or in connection with the administration, interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be final, conclusive and binding upon all persons having any interest in the Plan.
7.4.Indemnity of Members of the Management Benefits Committee.  The Company shall indemnify and hold harmless the members of the Management Benefits Committee against any and all claims, loss, damage, expense or liability arising from any action or failure to act with respect to the Plan on account of such member’s service for the Management Benefits Committee, except in the case of gross negligence or willful misconduct.
ARTICLE VIII - CLAIMS PROCEDURE
8.1.Claim.  Any person or entity claiming a benefit, or requesting an interpretation, ruling, or information under the Plan, shall present the request in writing to the Management Benefits Committee within one year following the date that such person or entity knew or, exercising reasonable care, should have known of such claim in accordance with Company policy.  All decisions on review shall be final and bind all parties concerned.
ARTICLE IX - AMENDMENT AND TERMINATION OF PLAN
9.1.Amendment.  The Board or its appointed delegates may at any time amend the Plan by written instrument, notice of which is given to all the Participants and to each Beneficiary receiving installment payments who are affected by such amendment, except that no amendment shall reduce the amount vested or accrued in any Participant’s Account as of the date the amendment is adopted.  In addition, any amendment which adds a distribution event to the Plan shall not be affective with respect to any Participant’s Account that is already established as of the time of such amendment.  Notwithstanding anything in the Plan to the contrary, the Board or its appointed delegates shall have the unilateral right to amend the Plan to comply with Section 409A of the Code.
9.2.Company’s Right to Terminate.  The Board may, in its sole discretion, terminate the entire Plan and require distribution of all benefits due under the Plan or portion thereof, provided that:
a)   The termination of the Plan does not occur proximate to a downturn in the financial health, as determined by the Management Benefits Committee, of the Company and all entities considered to be part of the same controlled group under Treas. Reg. §1.409A-1(g) (the “AAM Controlled Group”);
b)   The AAM Controlled Group also terminates all other plans or arrangements which are considered to be of a similar type as defined in Treas. Reg. §1.409A-1(c)(2)(i), or as otherwise provided by the Code;
c)    No payments made in connection with the termination of the Plan occur earlier than 12 months following the Plan termination date other than payments the Plan would have made irrespective of Plan termination;
d)   All payments made in connection with the termination of the Plan are completed within 24 months following the Plan termination date;
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e)   The AAM Controlled Group does not establish a new plan of a similar type as defined in Treas. Reg. §1.409A-1(c)(2)(i), within three years following the Plan termination date; and
f)    The AAM Controlled Group meets any other requirements deemed necessary to comply with provisions of the Code and applicable regulations which permit the acceleration of the time and form of payment made in connection with plan terminations and liquidations.
ARTICLE X - MISCELLANEOUS
10.1.Unfunded Plan.  The Plan is an unfunded plan maintained primarily to provide deferred compensation benefits for a select group of “management or highly-compensated employees” within the meaning of Sections 201, 301, and 401 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and therefore is exempt from the provisions of Parts 2, 3 and 4 of Title I of ERISA.
10.2.Unsecured General Creditor.  The Plan constitutes an unsecured promise by the Company to pay benefits in the future.  Notwithstanding any other provision of the Plan, all Participants and each Participant’s Beneficiary shall be unsecured general creditors, with no secured or preferential rights to any assets of the Company or any other party for payment of benefits under the Plan.  The Plan is unfunded for Federal tax purposes and for purposes of Title I of the Employee Retirement Income Security Act of 1974. Any property held by the Company for the purpose of generating the cash flow for benefit payments shall remain its general, unpledged and unrestricted assets.  The Company’s obligation under the Plan shall be an unfunded and unsecured promise to pay money in the future.  No other member of the Company Group shall have any obligations or liabilities under the Plan.  Any obligations on the Plan are solely those of the Company.
10.3.Trust Fund.  The Company shall be responsible for the payment of all benefits provided under the Plan.  At its discretion, the Company may establish one or more trusts, with such trustees as the Board may approve, for the purpose of assisting in the payment of such benefits. The assets of any such trust shall be held for payment of all the Company’s general creditors in the event of insolvency.  To the extent any benefits provided under the Plan are paid from any such trust, the Company shall have no further obligation to pay them.  If not paid from the trust, such benefits shall remain the obligation of the Company.
10.4.Compliance with Section 409A of the Code.  It is intended that the Plan comply with the provisions of Section 409A of the Code, so as to prevent the inclusion in gross income of any amounts deferred hereunder in a taxable year that is prior to the taxable year or years in which such amounts would otherwise actually be paid or made available to the Participants or Beneficiaries.  The Plan shall be construed, administered, and governed in a manner that affects such intent.  Neither the Company, any other member of the Company Group nor any Committee guarantees or provides any warranties with respect to the tax treatment of amounts deferred under the Plan.  Neither the Company, any other member of the Company Group, the Board, any director, officer, employee and advisor, nor any Committee (nor its designee) shall be held liable for any taxes, interest, penalties or other monetary amounts owed by any Participant, Beneficiary or other taxpayer as a result of the Plan.  For purposes of the Plan, the phrase “permitted by Section 409A of the Code,” or words or phrases of similar import, shall mean that the event or circumstance shall only be permitted to the extent it would not cause an amount deferred or 
12

payable under the Plan to be includible in the gross income of a Participant or Beneficiary under Section 409A(a)(1) of the Code.
10.5.Nonassignability and Offset.
a)Nonassignability.  Neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, transfer, hypothecate or convey in advance of actual receipt the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which are, expressly declared to be unassignable and non-transferable, other than (i) to a Participant’s Beneficiary pursuant to Article VI, (ii) pursuant to a domestic relations order deemed legally sufficient by the Management Benefits Committee, or (iii) by will or the laws of descent and distribution.  No part of the amounts payable shall, prior to actual payment, be subject to seizure or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any other person, nor be transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency.
b)Offset.  If, at the time a payment is due hereunder, the Company determines that the Participant is indebted or obligated to the Company or any other member of the Company Group (including, but not limited to, for amounts owed as a result of the Participant’s breach of his or her fiduciary duty owed to, or breach of any restrictive covenant in effect with, the Company Group), then the payment to be made to or with respect to such Participant (including a payment to the Participant’s Beneficiary) may, at the discretion of the Company, be reduced by the amount of such indebtedness or obligation; provided, however, that an election by the Company to not reduce any such payment shall not constitute a waiver of its claim for such indebtedness or obligation.
10.6.Not a Contract of Employment.  The Plan shall not constitute a contract of employment between the Company Group and the Participant.  Nothing in the Plan shall give a Participant the right to be retained in the service of the Company Group or to interfere with the right of the Company Group to discipline or discharge a Participant at any time.
10.7.Protective Provisions.  A Participant will cooperate with the Company by furnishing any and all information requested by the Company, in order to facilitate the payment of benefits hereunder, and by taking such physical examinations as the Company may deem necessary and taking such other action as may be requested by the Company.
10.8.Governing Law.  The provisions of the Plan shall be construed and interpreted according to the laws of the State of Michigan, without giving effect to any choice of law or conflict of law provision or rule, except as preempted by federal law.
10.9.Validity.  If any provision of the Plan shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but the Plan shall be construed and enforced as if such illegal and invalid provision had never been inserted herein.
10.10.Notice.  Any notice required or permitted under the Plan shall be sufficient if in writing and sent by (i) registered, certified mail, or (ii) electronic mail at benefits@aam.com (with a simultaneous confirmation copy sent by first class mail properly addressed and postage prepaid).  Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark on the receipt for registration or certification.  Mailed notice shall 
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be directed to “Administrator: ERSP, Attention Human Resources Department” at the Company’s headquarters address.  Mailed notice to a Participant or Beneficiary shall be directed to the individual’s last known address in the Company’s records.
10.11.Successors.  The provisions of the Plan shall bind and inure to the benefit of the Company and its successors and assigns.  The term successors as used herein shall include any corporate or other business entity which shall, whether by merger, consolidation, purchase or otherwise acquire all or substantially all of the business and assets of the Company, and successors of any such corporation or other business entity.
14Exhibit 10.1

 

CIGNA EXECUTIVE SEVERANCE BENEFITS PLAN

(Amended and Restated Effective December 21,
2020)

 

1. Introduction. Cigna
Corporation, a Delaware corporation, hereby amends and restates the Cigna Executive Severance Benefits Plan (the “Plan”).
The Plan is an unfunded severance benefits plan that is intended to be a welfare benefit plan within the meaning of Section 3(1)
of ERISA. The Plan, as amended and restated, is in effect for Covered Executives who experience a Covered Termination occurring
after December 20, 2020 and before the termination of the Plan. This document constitutes both the written instrument under which
the Plan is maintained and the required summary plan description for the Plan.

 

2. Purpose. The
purpose of the Plan is to establish the conditions under which Covered Executives will receive the severance benefits described
herein if employment with the Company (or its successor in a Change of Control) terminates under the circumstances specified herein.

 

3. Definitions. The
following defined terms apply for purposes of the Plan:

 

“Affiliate” --
the meaning set forth in Rule 12b-2 promulgated under the Exchange Act.

 

“Appeals Administrator”--
the meaning set forth in Section 16 hereof.

 

“Base Salary”--
a Covered Executive’s base rate of pay as in effect immediately before a Covered Termination (or, in the case of a Change
of Control Termination, prior to the Change of Control, if greater) and exclusive of any bonuses or other forms of compensation.

 

“Basic Severance Pay”
-- the basic severance pay described in Section 7 of the Plan.

 

“Beneficial Owner”
and “Beneficially Owned” -- the meaning set forth in Rule 13d-3 promulgated under the Exchange Act.

 

“Benefits Continuation”
-- the meaning set forth in Section 8(a) hereof.

 

“Board” -- the
Board of Directors of Cigna Corporation.

 

“Bonus Target”
-- the target annual bonus under the EIP or the portion of the annual bonus target under the CIM Incentive Plan that is immediately
payable in cash (as applicable) that the employee was eligible to earn for the year in which the Covered Termination occurs (or,
in the case of a Change of Control Termination, for the year in which the Change of Control occurs, if greater), without regard
to whether the performance goals applicable to such bonus had been established or satisfied at the date of termination of employment.

 

“Cause” -- a Covered Executive’s
(a) willful failure to substantially perform his or her duties with the Company (other than any such failure resulting from his
or her incapacity due to physical or mental illness or any such actual or anticipated failure in the 90-day period following his
or her issuance of a notice of termination for Good Reason); (b) material violation of any legal or contractual obligation to the
Company; (c) material non-compliance with Company policies or procedures, including, without limitation, Cigna’s Code of
Ethics and Principles of Conduct; (d) engagement in any activity resulting in his or her being not bondable as determined by Cigna
under its (or its successor’s) fidelity bond; (e) conviction of a felony involving fraud or dishonesty directed against the
Company; (f) breach of any restrictive covenant agreement in effect with the Company;
or (g) willful act or failure to act that adversely affects the financial or reputational interests of the business of the Company
in any material respect, in each case as determined by the Plan Administrator.

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“CEO” -- the chief executive
officer of Cigna Corporation.

“Change
of Control” -- any of the following:

		a.	A corporation, person or group acting in concert, as described in Exchange Act Section 14(d)(2), holds or acquires beneficial
ownership within the meaning of Rule 13d-3 promulgated under the Exchange Act of a number of preferred or common shares of
Cigna Corporation having 30% or more of the combined voting power of Cigna Corporation’s then outstanding securities; provided,
however, in determining whether a Change of Control has occurred, voting securities which are acquired by any of the following
shall not constitute an acquisition which would cause a Change of Control: (i) by an employee benefit plan (or a trust forming
a part thereof) maintained by Cigna Corporation or any Subsidiary, (ii) by Cigna Corporation or any Subsidiary, or (iii) by any
Person in connection with a transaction described in (b)(i) immediately below; or

 

		b.	There is consummated a merger, consolidation or reorganization of Cigna Corporation or any direct or indirect Subsidiary of
Cigna Corporation with any other corporation, other than:

 

		i.	a merger, consolidation or reorganization --

 

		1.	immediately following which the individuals who constituted the Board immediately prior thereto constitute at least a majority
of the board of directors of the entity surviving such merger, consolidation or reorganization or the ultimate parent thereof,

 

		2.	in which no Person is or becomes the Beneficial Owner, directly or indirectly, of securities of Cigna Corporation (not including
in the securities Beneficially Owned by such Person any securities acquired directly from Cigna Corporation or its Affiliates)
representing 30% or more of the combined voting power of Cigna Corporation’s then outstanding securities; and

 

		3.	where the shareholders of Cigna Corporation, immediately before such merger, consolidation or reorganization, own directly
or indirectly, immediately following such merger, consolidation or reorganization, at least fifty percent (50%) of the combined
voting power of the outstanding voting securities of the entity surviving such merger, consolidation or reorganization or the ultimate
parent thereof in substantially the same proportion as their ownership of the outstanding securities of Cigna Corporation immediately
before such merger, consolidation or reorganization; or

 

		c.	A change occurs in the composition of the Board at any time during any consecutive 12-month period such that the Continuity
Directors cease for any reason to constitute a majority of the Board. For purposes of the preceding sentence “Continuity
Directors” means those members of the Board who either: (1) were directors at the beginning of such consecutive 12-month
period; or (2) were elected by, or on nomination or recommendation of, at least a majority of the Board (other than a director
whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited
to a consent solicitation, relating to the election of directors of Cigna Corporation); or

 

    	2 

    	 

    

 

		d.	The shareholders of Cigna Corporation approve a plan of complete liquidation or dissolution of Cigna Corporation or there is
consummated an agreement for the sale or disposition by Cigna Corporation of all or substantially all of Cigna Corporation’s
assets, other than a sale or disposition by Cigna Corporation of all or substantially all of Cigna Corporation's assets immediately
following which the individuals who constituted the Board immediately prior thereto constitute at least a majority of the board
of directors of the entity to which such assets are sold or disposed or any parent thereof.

Notwithstanding the foregoing, a “Change of Control”
shall not be deemed to have occurred by virtue of the consummation of any transaction or series of integrated transactions immediately
following which the record holders of the common stock of Cigna Corporation immediately prior to such transaction or series of
transactions continue to have substantially the same proportionate ownership in an entity which owns all or substantially all of
the assets of Cigna Corporation immediately following such transaction or series of transactions.

 

“Change of Control Termination”
-- a termination of the Covered Executive’s employment either by the Company without Cause (not including by reason of death
or Disability) or by the Covered Executive for Good Reason, in either case so long as the Separation Date, the date on which the
Company gives the Covered Executive notice of his or her termination, or the date that the Covered Executive provides written notice
of Good Reason occurs within the two-year period immediately following the Effective Time.

 

“CIM Incentive Plan”
-- the Cigna Investment Management Incentive Plan or any successor bonus plan thereto.

 

“COBRA” -- the
Consolidated Omnibus Budget Reconciliation Act.

 

“Code” -- the
Internal Revenue Code of 1986, as amended.

 

“Company” --
Cigna Corporation (or, following a Change of Control, any successor thereto) together with the wholly-owned subsidiaries of Cigna
Corporation provided, that, for purposes of the definition of Change of Control in 3(f) hereof, Company means solely Cigna
Corporation.

 

“Covered Band 6 Executive”
– a Covered Executive aligned to career band 6 immediately before his or her Separation Date, or, in the case of a Change
of Control Termination, immediately before a Change of Control.

 

“Covered Band 7 Executive”
– a Covered Executive aligned to career band 7 immediately before his or her Separation Date, or, in the case of a Change
of Control Termination, immediately before a Change of Control.

 

“Covered Band 8 Executive”
– a Covered Executive aligned to career band 8, excluding the CEO immediately before his or her Separation Date, or, in the
case of a Change of Control Termination, immediately before a Change of Control.

 

“Covered Executive”
-- any individual in a career band 6, 7 or 8 executive track role (including the CEO) immediately before his or her Separation
Date, or, in the case of a Change of Control Termination, immediately before a Change of Control,
as determined by the Company in its sole discretion and who is not deemed to be ineligible to receive severance benefits under
the Plan as provided in Section 5 hereof. Any person who is classified by the Company as an independent contractor or third
party employee is not eligible for severance benefits even if such classification is modified retroactively.

 

    	3 

    	 

    

 

“Covered Termination”
-- a Covered Executive’s Separation from Service that is designated by the Plan Administrator as (i) an Involuntary
Termination or (ii) a Change of Control Termination. The Plan Administrator shall determine whether a particular Separation for
Service is an Involuntary Termination or a Change of Control Termination, and may determine, based on the facts and circumstances,
that a Separation from Service does not qualify as a Covered Termination.

 

“Disability”
-- the Covered Executive’s disability within the meaning of the Cigna Long Term Disability Plan in effect immediately prior
to the Covered Termination.

 

“Effective Time”
-- The closing or effective date of a transaction that is a Change of Control.

 

“EIP”-- The Cigna
Enterprise Incentive Plan or any successor annual bonus plans thereto.

 

“ERISA” -- the
Employee Retirement Income Security Act of 1974, as amended.

 

“Exchange Act”--
the Securities Exchange Act of 1934, as amended.

 

“Good Reason”
-- the occurrence of any of the following within the two-year period immediately following a Change of Control without the Covered
Executive’s prior consent: (A) the Company’s requiring the Covered Executive to be based at any office or location
more than 35 miles from the location of the office in which the Covered Executive primarily performs his or her duties of employment
as of the Effective Time, except for travel reasonably required in the performance of the Covered Executive’s responsibilities
to the extent substantially consistent with the Covered Executive’s business travel obligations prior to the Effective Time,
and except for a change to a location that is closer to the Covered Executive’s home; (B) any material and sustained
diminution in Covered Executive’s authority, duties or responsibilities from those as of the Effective Time; or (C)
the material diminution of the Covered Executive’s aggregate target compensation (salary, Bonus Target and long term incentive
target) in effect as of the Effective Time; provided that, in order to resign for Good Reason, (x) Covered Executive must deliver
written notice to the Company describing in reasonable detail the circumstances alleged to constitute Good Reason within 30 days
after the initial occurrence thereof, (y) the Company must have 30 days after receipt of written notice from Covered Executive
in which to cure such circumstances, and (z) if such circumstances are not cured, the Covered Executive must resign within 30 days
following the expiration of such cure period.

 

“Involuntary Termination”
-- a termination by the Company of the Covered Executive’s employment without Cause (not including by reason of death or
Disability) that is not a Change of Control Termination.

 

“Person” -- the
meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof, except that such
term shall not include (a) Cigna Corporation or any of its Subsidiaries, (b) a trustee or other fiduciary holding securities under
an employee benefit plan of Cigna Corporation or any of its Affiliates, (c) an underwriter temporarily holding securities pursuant
to an offering of such securities, or (d) a corporation owned, directly or indirectly, by the stockholders of Cigna Corporation
in substantially the same proportions as their ownership of stock of Cigna Corporation.

 

“Plan Administrator”
-- the meaning set forth in Section 15 hereof.

 

“Release” --
the meaning set forth in Section 6 hereof.

 

    	4 

    	 

    

 

“Release Effective Date”
-- the meaning set forth in Section 13(c)(1) hereof.

 

“Separation Date” –-
the date of a Covered Executive’s Separation from Service.

“Separation from Service”
– a Covered Executive’s death, retirement or other termination of employment, from the Company within the meaning of
Treasury Regulation Section 1.409A-1(h). For this purpose, the level of reasonably anticipated, permanently reduced, bona fide
services that will be treated as a Separation from Service is 30%. Generally, a Covered Executive’s Separation from Service
occurs when his or her level of services to the Company is reduced by 70% or more.

 

“Subsidiary”
-- any corporation of which more than 50% of the total combined voting power of all classes of stock entitled to vote, or other
equity interest, is directly or indirectly owned by Cigna Corporation; or a partnership, joint venture or other unincorporated
entity of which more than a 50% interest in the capital, equity or profits is directly or indirectly owned by Cigna Corporation;
provided that such corporation, partnership, joint venture or other unincorporated entity is included in the Company’s consolidated
financial statements under generally accepted accounting principles.

 

“Supplemental Severance Pay”
– the supplemental severance pay described in Section 7 of the Plan.

 

4. Coverage. Subject
to satisfaction of the eligibility and other requirements set forth in Sections 5 and 6 of the Plan, a Covered Executive
will be entitled to receive severance benefits under the Plan if such employee experiences a Covered Termination.

 

5. Eligibility
for Severance Benefits. The following executive employees will not be eligible for severance benefits,
except to the extent specifically determined in good faith otherwise by the Plan Administrator: (a) an executive employee
who is terminated for Cause or by reason of death or Disability; (b) an executive employee who voluntarily retires or otherwise
voluntarily terminates his or her employment, except, in the case of a Change of Control Termination, for Good Reason; (c) an
executive employee who is subject to a written agreement with the Company that provides severance benefits; provided, however that
if the severance benefits under such agreement are less than those provided under the Plan, then such executive employee shall
be eligible to receive the severance benefits provided under the Plan (but not under both the agreement and the Plan); and (d)
any executive employee of any U.S. Subsidiary whose employees do not participate in the Cigna Long-Term Incentive Plan (“LTIP”).
A Covered Executive who has any outstanding grants or awards under the LTIP as of the date of a Change of Control Termination will
be eligible for severance benefits only if he or she agrees to the application of the limitation on payments provisions under Section
14 of the Plan to such LTIP grants and awards.

 

6. Ongoing
Obligations and Release. Receipt of any severance payments or benefits under the Plan requires that the Covered Executive:
(a) comply with any applicable proprietary information and inventions, nondisclosure, non-competition, non-solicitation,
cooperation (or similar) agreements it has entered into with the Company, and other continuing obligations to
the Company; and (b) execute and deliver a separation and release of claims agreement in the form to be provided by the Company
on or around the Covered Executive’s Separation Date (the “Release”) which Release must become binding
within sixty (60) days following the Covered Executive’s Separation Date. In the case of a Change of Control
Termination, the Release provided shall be in the form approved by the Plan Administrator for use with respect to the applicable
Change of Control.

 

    	5 

    	 

    

 

7. Basic and Supplemental
Severance.

 

		(a)	Involuntary Termination. A Covered Executive who experiences an Involuntary Termination shall be entitled
to receive the Basic Severance Pay and the Supplemental Severance Pay described below:

 

		(i)	Basic Severance Pay: A Covered Executive’s Basic Severance Pay shall be the product of the Covered Executive’s
Base Salary, stated in weekly terms, and the applicable Multiplier described immediately below:

 

	Covered Executive	Multiplier
	Chief Executive Officer	104 weeks
	Covered Band 8 Executive	78 weeks
	Covered Band 7 Executive	52 weeks
	Covered Band 6 Executive	38 – 52 weeks (38 weeks minimum with 2 additional weeks of severance for every full completed year of service above 4 years up to a total of 52 weeks).  

 

		(ii)	Supplemental Severance Pay

 

		1)	A Covered Executive’s Supplemental Severance Pay shall be the product of the Base Amount described in paragraph 7(a)(ii)(2)
and the applicable Multiplier described in paragraph 7(a)(ii)(3).

 

		2)	The Base Amount shall be the amount of the Covered Executive’s Bonus Target.

 

		3)	The Multiplier shall be:

 

	Covered Executive	Multiplier
	Chief Executive Officer	200%
	Covered Band 8 Executive	150%
	Covered Band 7 Executive	100%
	Covered Band 6 Executive	0%

 

 

		(b)	Change of Control Termination. A Covered Executive who experiences a Change of Control Termination shall be entitled
to receive the Basic Severance Pay and the Supplemental Severance Pay described below:

 

		(i)	Basic Severance Pay. A Covered Executive’s Basic Severance Pay shall be the product of the Covered Executive’s
Base Salary, stated in weekly terms and the applicable Multiplier described immediately below:

 

	Covered Executive	Multiplier
	Chief Executive Officer	156 weeks
	Covered Band 8 Executive	156 weeks
	Covered Band 7 Executive	104 weeks

 

    	6 

    	 

    

 

	Covered Band 6 Executive	52 – 78 weeks (52 weeks minimum with 2 additional weeks of severance for every full completed year of service above 4 years up to a total of 78 weeks).  

 

		(ii)	Supplemental Severance Pay

 

		1)	A Covered Executive’s Supplemental Severance Pay shall be the product of the Base Amount described in paragraph 7(b)(ii)(2)
and the applicable Multiplier described in paragraph 7(b)(ii)(3).

 

		2)	The Base Amount shall be the higher of:

 

		a.	The amount of the last annual bonus incentive compensation payment actually received by the Covered Executive under the EIP
or the last cash bonus award payment actually received by the Covered Executive under the CIM Incentive Plan, as applicable; or

 

		b.	The amount of the Covered Executive’s Bonus Target.

 

		3)	The Multiplier shall be:

 

	Covered Executive	Multiplier
	Chief Executive Officer	300%
	Covered Band 8 Executive	300%
	Covered Band 7 Executive	200%
	Covered Band 6 Executive	100-150% (multiplier to align with severance period, with 100% for 52 weeks and 150% for 78 weeks and prorated in between)

 

8. Other
Severance Benefits. In the event of a Covered Termination, a Covered Executive shall also be entitled to the following:

 

(a)   
Pro Rata and Prior Year Bonus Severance

 

		(i)	The Covered Executive shall receive a cash payment equal to his or her pro-rated Bonus Target (based on the number of days
completed from the beginning of the calendar year through the Separation Date) for the year in which Covered Executive’s
Separation Date occurs.

 

		(ii)	If the Covered Executive’s Separation Date occurs before the date on which the Company pays annual bonuses for the year
immediately preceding the year of the Covered Executive’s Separation Date, and the Covered Executive did not receive an annual
bonus incentive payment for that preceding year under the EIP or the CIM Incentive Plan, then, in addition to any Supplemental
Severance and the pro-rated bonus described in paragraph 8(a)(i), the Covered Executive shall also receive a cash payment equal
to his or her Bonus Target.

 

(b)   COBRA Subsidy Payment. The Covered Executive shall receive a COBRA subsidy payment which is equal to the cost of
the Company’s contributions to the cost of the active medical coverage in which the Covered Executive is enrolled immediately
prior to his or her Separation Date for a period equal to number of weeks of the Covered Executive’s salary replacement up
to 18 months; provided; however, that, in the case of an Involuntary Termination, if the Covered Executive commences new employment
and is eligible for new group medical plans or benefits in connection with that new employment, the Company’s payment of
the COBRA subsidy payment shall end when the Covered Executive is enrolled under such new group health plans or benefits.

 

    	7 

    	 

    

 

(c)   
Outplacement. During the six-month period beginning on a Covered Executive’s Separation Date, the Covered Executive
will be provided with reasonable outplacement services as determined by the Company.

 

9.  Timing
of Severance Benefits.

 

		(a)	Involuntary Termination. In the case of an Involuntary Termination, all payments shall be made or commence on
the first payroll date after the Release Effective Date as follows:

 

		a.	Basic Severance Pay shall be paid in installments on the Company’s regularly scheduled payroll dates in effect from time
to time;

 

		b.	Supplemental Severance Pay shall be paid in a single lump sum; and

 

		c.	The COBRA Subsidy Payment shall be paid in installments at the time premium payments are made by other participants in the
Company’s medical benefit plans with the same coverage.

 

		(b)	Change of Control Termination. Subject to Section 13, in the case of a Change of Control Termination, the Basic
Severance, the Supplemental Severance and the COBRA Subsidy Payment shall be paid in single lump sum within 30 days following the
Release Effective Date.

 

10. Recoupment
and Forfeiture.  If a Covered Executive fails to comply with the terms of the Plan, including the provisions of Section 6
above, then:

 

		(a)	the Company may require payment to the Company of any benefits described in Sections 7 and 8 above that the Covered Executive
has already received to the extent permitted by applicable law and with the “value” determined in the sole and good
faith discretion of the Plan Administrator, in which case payment is due in cash or by check within thirty (30) days,
or such earlier date as may be required by law or by any clawback policy that the Company adopts, after the Company provides notice
to a Covered Executive that it is enforcing this provision; and

 

		(b)	any payments or benefits described in Sections 7 and 8 above not yet received by such Covered Executive will be immediately
forfeited.

 

Moreover, unless
otherwise approved by the Plan Administrator, if, following an Involuntary Termination, a Covered Executive is re-hired by
the Company, any payments or benefits described in Sections 7 and 8 above not yet received by such Covered Executive as of
his or her re-hire date, will be immediately forfeited.

 

    	8 

    	 

    

 

11. Death;
Disability. If a Covered Executive dies or becomes disabled after the date of his or her Covered Termination but before
all payments or benefits to which such Covered Executive is entitled pursuant to the Plan have been paid or provided, payments
will be made to any beneficiary or legal representative designated by the Covered Executive prior to or in connection with such
Covered Executive’s Covered Termination or, if no such beneficiary or legal representative has been designated, to the Covered
Executive or his or her estate.

 

12. Withholding. The
Company may withhold from any payment or benefit under the Plan: (a) any federal, state, or local income or payroll taxes
required by law to be withheld with respect to such payment; (b) such sum as the Company may reasonably estimate is necessary
to cover any taxes for which the Company may be liable and which may be assessed with regard to such payment; and (c) such
other amounts as appropriately may be withheld under the Company’s payroll policies and procedures from time to time in effect.

 

13. Section
409A. It is expected that the payments and benefits provided under the Plan will be exempt from or compliant with Section 409A
of the Code, and the guidance issued thereunder (“Section 409A”). The Plan shall be interpreted consistent
with this intent to the maximum extent permitted and generally, with the provisions of Section 409A. A termination of employment
shall not be deemed to have occurred for purposes of any provision of the Plan providing for the payment of any amounts or benefits
upon or following a termination of employment (which amounts or benefits constitute nonqualified deferred compensation within the
meaning of Section 409A) unless such termination is also a Separation from Service. Neither the Covered Executive nor the
Company shall have the right to accelerate or defer the delivery of any payment or benefit except to the extent specifically permitted
or required by Section 409A.

 

To the extent the
severance payments or benefits under the Plan are subject to Section 409A, the following rules shall apply with respect to
distribution of the payments and benefits, if any, to be provided to Covered Executives under the Plan:

 

(a) Each installment
of the payments and benefits provided under the Plan will be treated as a separate “payment” for purposes of Section 409A.
Whenever a payment under the Plan specifies a payment period with reference to a number of days, the actual date of payment within
the specified period shall be in the Company’s sole discretion. Notwithstanding any other provision of the Plan to the contrary,
in no event shall any payment under the Plan that constitutes “non-qualified deferred compensation” for purposes
of Section 409A be subject to transfer, offset, counterclaim or recoupment by any other amount unless otherwise permitted
by Section 409A.

 

(b) If a Covered Executive
is deemed on the Separation Date to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B)
with respect to such entity, then each of the following shall apply:

 

(i)
With regard to any payment that is considered “non-qualified deferred compensation” under
Section 409A payable on account of a Separation from Service such payment shall be made on the date which is the earlier
of (A) the day following the expiration of the six (6) month period measured from the date of such Separation from
Service of the Covered Executive, and (B) the date of the Covered Executive’s death (the “Delay
Period”) to the extent required under Section 409A. Upon the expiration of the Delay Period, all payments
delayed pursuant to this provision (whether otherwise payable in a single sum or in installments in the absence of such
delay) shall be paid to or for the Covered Executive in a lump sum, and all remaining payments due under the Plan shall be
paid or provided for in accordance with the normal payment dates specified herein; and

 

    	9 

    	 

    

 

 

(ii)
To the extent that any benefits to be provided during the Delay Period are considered “non-qualified deferred
compensation” under Section 409A payable on account of a Separation from Service, and such benefits are not
otherwise exempt from Section 409A, the Covered Executive shall pay the cost of such benefits during the Delay Period,
and the Company shall reimburse the Covered Executive, to the extent that such costs would otherwise have been paid by the
Company or to the extent that such benefits would otherwise have been provided by the Company at no cost to the Covered
Executive, the Company’s share of the cost of such benefits upon expiration of the Delay Period. Any remaining benefits
shall be reimbursed or provided by the Company in accordance with the procedures specified in the Plan.

 

(c) To
the extent that severance benefits pursuant to the Plan are conditioned upon a Release, the Covered Executive shall forfeit all
rights to such payments and benefits unless such release is signed and delivered (and no longer subject to revocation, if applicable)
within sixty (60) days following the Separation Date. If the Release is no longer subject to revocation as provided in the
preceding sentence, then the following shall apply:

 

(i) To
the extent any severance benefits to be provided are not “non-qualified deferred compensation” for purposes
of Section 409A, then such benefits shall commence upon the first scheduled payment date immediately after the date the Release
is executed and no longer subject to revocation (the “Release Effective Date”). The first such cash payment
shall include all amounts that otherwise would have been due prior thereto under the terms of this Agreement applied as though
such payments commenced immediately upon the termination of Covered Executive’s employment with the Company, and any payments
made after the Release Effective Date shall continue as provided herein. The delayed benefits shall in any event expire at the
time such benefits would have expired had such benefits commenced immediately following the termination of Covered Executive’s
employment with the Company.

 

(ii) To
the extent any such severance benefits to be provided are “non-qualified deferred compensation” for purposes
of Section 409A, then the Release must become irrevocable within sixty (60) days of the Separation Date and benefits
shall be made or commence upon the date provided in Section 6, provided that if the sixtieth day following the Separation
Date falls in the calendar year following the calendar year containing the Separation Date, the benefits will be made no earlier
than the first business day of that following calendar year. The first such cash payment shall include all amounts that otherwise
would have been due prior thereto under the terms of this Agreement had such payments commenced immediately upon the Separation
Date, and any payments made after the first such payment shall continue as provided herein. The delayed benefits shall in any event
expire at the time such benefits would have expired had such benefits commenced immediately following Separation Date.

 

(d) The Company makes
no representations or warranties and shall have no liability to any Covered Executive or any other person, other than with respect
to payments made by the Company in violation of the provisions of the Plan, if any provisions of or payments under the Plan are
determined to constitute deferred compensation subject to Section 409A of the Code but not to satisfy the conditions of that
section.

 

    	10 

    	 

    

 

14. Section 280G;
Modified Economic Cutback.

 

(a) Notwithstanding any other
provision of the Plan, if the nationally recognized accounting firm designated by the Company that is responsible for the calculations
and determinations under this Section 14 (“Accounting Firm”) determines that all or part of the total payments
made to a Covered Executive resulting from or related to a Change of Control (including under the Plan) (“Total Payments”)
to be made to a Covered Executive would, but for this Section 14, be subject to the any excise tax under Code Section 4999 and
any similar tax (“Excise Tax”) then the amount of Total Payments payable to the Covered Executive will be either
(i) delivered in full or (ii) reduced (but not below zero) by the minimum amount necessary so that no such payments will
be subject to the Excise Tax; whichever, after taking into account all applicable taxes (including any Excise Tax), results in
the receipt by the Covered Executive on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some
portion of such Total Payments may be subject to the Excise Tax.

(b) The Accounting Firm shall
make all determinations required under this Section 14 including whether and when any payments would be subject to the Excise Tax,
the amount of any payments subject to the Excise Tax, whether the Total Payments should be reduced and the amount of the reduction
pursuant Section 14. For purposes of making these calculations, the Accounting Firm may make reasonable assumptions and approximations
concerning applicable taxes and may rely on reasonable, good-faith interpretations concerning the application of the Code.

(c) If the determination made pursuant
to Section 14(a) results in a reduction of a Covered Executive’s Total Payments, then the reduction shall be applied to payments
that constitute “Parachute Payments” under the meaning set forth in Code Section 280G(b)(2) in the following order
and shall be implemented in a manner consistent with the requirements of Code Section 409A:

		(1)	to Strategic Performance Share awards under the Cigna Long Term Incentive Plan (beginning with awards for the latest performance
period and working backward);

		(2)	to Basic and Supplemental Severance Pay under the Plan;

		(3)	by cancellation of equity-based awards the grant of which is considered “contingent” upon the Change in Control
with the meaning of Code Section 280G (if applicable);

		(4)	by cancellation of accelerated vesting of other equity-based awards (if applicable);

		(5)	by reduction of all other payments, if any; and

		(6)	by reduction of employee benefits.

If the grant or acceleration
of vesting of equity-based awards is to be cancelled, such cancellation shall first be applied to awards for which the exercise
or purchase price exceeds the fair market value of the underlying shares at the time of the Change in Control, if any, and then
to the remaining awards. In each case, cancellation shall be applied based on the reverse order of the date of grant of the applicable
awards.

    	11 

    	 

    

 

(d) The fact that the limitations
contained in this Section 14 reduce a Covered Executive’s right to payments or benefits will not of itself limit or otherwise
affect any other rights of the Covered Executive under the Plan or any other agreement or arrangement. Nothing in this Section
14 shall require the Company to be responsible for, or have any liability or obligation with respect to, a Covered Executive’s
Excise Tax liabilities.

(e) If the amount of the Total
Payments to a Covered Executive is reduced under Section 14(a) and the Internal Revenue Service (“IRS”) nonetheless
determines that a Covered Executive is liable for the Excise Tax as a result of the receipt of any portion of the Total Payments,
then the Covered Executive shall be obligated to pay back to the Company, within thirty (30) days after a final IRS determination
or in the event that the Covered Executive challenges the final IRS determination, a final judicial determination, a portion of
such amounts equal to the “Repayment Amount”. For this purposes the Repayment Amount will be the smallest such amount
as shall be required to be paid to the Company so that none of the remaining Total Payments is subject to the Excise Tax.

15. Plan Administration.

 

(a) Plan Administrator.
The Plan Administrator shall be the immediate direct report to Cigna Corporation’s Chief Human Resource Officer responsible
for executive compensation; provided, however, in the event of a Change of Control, the Plan Administrator shall continue to be
the individual who served as the Plan Administrator immediately prior to the Change of Control or his or her designated successor,
who shall also have been an executive employee of the Company immediately prior to the Change of Control (with such designated
successor to have the ability to further designate) in the event the individual then serving as the Plan Administrator’s
employment with the Company ends. The Plan Administrator shall also serve as the Named Fiduciary of the Plan under ERISA. The Plan
Administrator shall be the “administrator” within the meaning of Section 3(16) of ERISA and shall have all the
responsibilities and duties contained therein.

 

The Plan Administrator can
be contacted at the following address:

 

Cigna Executive Severance Benefits
Plan Claim

c/o Plan Administrator

Two Liberty Place, TL05Z

1601 Chestnut Street

Philadelphia, PA 19192

 

(b) Decisions,
Powers and Duties. The general administration of the Plan and the responsibility for carrying out its provisions shall be vested
in the Plan Administrator. The Plan Administrator shall have such powers and authority as are necessary to discharge such duties
and responsibilities which also include, but are not limited to, interpretation and construction of the Plan, the determination
of all questions of fact, including, without limit, eligibility, participation and benefits, the resolution of any ambiguities
and all other related or incidental matters, and such duties and powers of the plan administration which are not assumed from time
to time by any other appropriate entity, individual or institution. The Plan Administrator may adopt rules and regulations of uniform
applicability in its interpretation and implementation of the Plan.

 

The Plan
Administrator shall discharge its duties and responsibilities and exercise its powers and authority in its sole discretion
and in accordance with the terms of the controlling legal documents and applicable law, and its actions and decisions that
are not arbitrary and capricious shall be binding on any employee, and employee’s spouse or other dependent or
beneficiary and any other interested parties whether or not in being or under a disability.

 

    	12 

    	 

    

 

 

16. Claims and Appeals.

 

(a)         
Claims. A Covered Executive has the right to submit a written claim for benefits to the Plan Administrator.
Claims must be received within 180 days of the Covered Termination date. The Plan Administrator will determine eligibility for,
and, to the extent applicable, the amount of, any Plan benefits that a Covered Executive is eligible to receive under the Plan,
if any, and will respond in writing to the claim for benefits within 90 days after receipt of the written claim. However, if special
circumstances require more time to make a decision on the claim, an extension of up to 90 more days may be needed to consider the
claim. The Plan Administrator will be notify the Covered Executive in writing of any extension and the reason for it.

 

The Covered Executive will be notified in writing of the decision
on his or her claim. If his or claim is denied, this written notice will include:

		·	The specific reason for the denial;

		·	References to the Plan provision on which the denial is based;

		·	A description of any additional material or information needed to
review the claim and an explanation of the need for the additional material or information; and

		·	A description of the Plan’s procedures for appealing the decision
and a statement of the Covered Executive’s rights to bring a civil action under ERISA Section 502(a) if he or she submits
a proper appeal of the denial of the claim and the appeal is denied.

If no decision on a claim has been communicated in writing
by the end of the 90-day period (or the end of the extended period, if applicable), the claim is deemed denied.

(b)         
Appeal Procedure. If a Covered Executive’s claim for benefits is denied, entirely or in part, and he
or she believes that there has been an error or that such claim has not been handled properly, the Covered Executive has the right
to appeal to the Appeals Administrator. The Appeals Administrator shall be Cigna Corporation’s Chief Human Resources Officer;
provided, however, in the event of a Change of Control the Appeals Administrator shall be the individual who served as Cigna Corporation’s
Chief Human Resources Officer immediately prior to the Change of Control or his or her designated successor who shall also have
been an executive employee of the Company immediately prior to the Change of Control (with such designated successor to have the
ability to further designate) in the event the individual then serving as the Appeals Administrator’s employment with the
Company ends. The appeal must be in writing, explaining the basis for the appeal, and must be sent within 60 days from the date
of the claim denial.

The Appeals Administrator can be contacted at the following
address:

 

Cigna Executive Severance Benefits Plan Appeal

c/o Appeals Administrator

Two Liberty Place, TL11F

1601 Chestnut Street

Philadelphia, PA 19192

 

A Covered Executive may make a written request, and is entitled
to review or receive, free of charge, copies of documents and other information relevant to his or her claim and appeal. In considering
an appeal, the Appeals Administrator will review the written appeal letter, any relevant documents provided, the relevant Plan
provisions and other relevant information.

The Appeals Administrator will normally make a decision on
an appeal within 60 days after receipt. However, if special circumstances require more time, an extension of up to 60 more days
may be needed.

 

    	13 

    	 

    

 

The Covered Executive will be notified in writing of any extension and the reason for it. If a Covered Executive
must provide additional information to support his or her appeal, the 60-day period will be suspended until the Appeals Administrator
receives the additional information.

The Covered Executive will be notified in writing of the Appeals
Administrator’s decision on his or her appeal, and that decision is final. If the appeal is denied, this written notice will
include:

		·	The specific reason for the denial;

		·	References to the Plan provision on which the denial is based;

		·	A statement that the Covered Executive may request access to or copies,
free of charge, of all documents, records and other information relevant to his or her claim; and

		·	A statement of the Covered Executive’s right to bring a civil
action for Plan benefits under ERISA Section 502(a).

If the Covered Executive has not received a decision by the
end of the 60-day period (or the end of the extended period, if applicable), the appeal is deemed denied.

17. Indemnification. To
the extent permitted by law, all employees, officers, directors, agents and representatives of the Company shall be indemnified
by the Company and held harmless against any claims and the expenses of defending against such claims, resulting from any action
or conduct relating to the administration of the Plan, whether as a member of the Committee or otherwise, except to the extent
that such claims arise from gross negligence, willful neglect, or willful misconduct.

 

18. Plan
Not an Employment Contract. The Plan is not a contract between the Company and any employee, nor is it a condition of
employment of any employee. Nothing contained in the Plan gives, or is intended to give, any employee the right to be retained
in the service of the Company, or to interfere with the right of the Company to discharge or terminate the employment of any employee
at any time and for any reason. No employee shall have the right or claim to benefits beyond those expressly provided in the Plan,
if any. All rights and claims are limited as set forth in the Plan.

 

19. Severability. In
case any one (1) or more of the provisions of the Plan (or part thereof) shall be held to be invalid, illegal or unenforceable
in any respect, such invalidity, illegality or unenforceability shall not affect the other provisions hereof, and the Plan shall
be construed as if such invalid, illegal or unenforceable provisions (or part thereof) never had been contained herein.

 

20. Non-Assignability. No
right or interest of any Covered Executive in the Plan shall be assignable or transferable in whole or in part either directly
or by operation of law or otherwise, including, but not limited to, execution, levy, garnishment, attachment, pledge or bankruptcy.

 

21. Integration
With Other Pay or Benefits Requirements; Offsets. The severance payments and benefits provided for in the Plan are
the maximum benefits that the Company will pay to Covered Executives on or in connection with a Covered Termination, except
to the extent otherwise specifically provided in a separate agreement. To the extent that the Company owes any amounts in the
nature of severance benefits, statutory notice period payments or garden leave payments, under any other agreement, program,
policy or plan of the Company that is not otherwise superseded by the Plan, or to the extent that any country, federal, state
or local law, including, without limitation, so-called “plant closing”, mandatory notice or garden
leave laws, requires the Company to give advance notice or make a payment of any kind to an employee for any reason because
of that employee’s involuntary Separation from Service, the benefits provided under the Plan or the other arrangement
shall either be reduced, offset, or eliminated to avoid any duplication of payment. The Company intends for the benefits
provided under the Plan to partially or fully satisfy any and all statutory obligations that may arise out of an
employee’s involuntary Separation form Service for the foregoing reasons and the Company shall so construe and
implement the terms of the Plan.

 

    	14 

    	 

    

 

 

22. Amendment
or Termination. The Board or Committee may amend, modify, or terminate the Plan at any time in its sole discretion; provided,
however, that (a) no amendment, modification or termination that adversely affects the rights of any Covered Executive may
be made to the Plan within six (6) months prior to a Change of Control, (b) no such amendment, modification or termination
may affect the rights of a Covered Executive then receiving payments or benefits under the Plan without the consent of such person,
and (c) no such amendment, modification or termination made after a Change of Control that adversely affects the rights of
any Covered Executive shall be effective before the second anniversary of the Effective Time.

 

23. Governing
Law. The Plan and the rights of all persons under the Plan shall be construed in accordance with and under applicable
provisions of ERISA, and the regulations thereunder, and the laws of the State of Delaware (without regard to conflict of laws
provisions) to the extent not preempted by federal law.

 

24. Covered Executive
Rights. Covered Executives in the Plan are entitled to certain rights and protections under ERISA. ERISA provides that all
Plan participants shall be entitled to:

 

		·	Receive Information About the Plan and
Benefits.

 

		·	Examine, without charge, at the Office of the Plan Administrator during
normal working hours (and at other locations that the Plan Administered may specify from time to time, all documents governing
the Plan and a copy of the latest annual report (Form 5500 Series) filed by the Plan with the U.S. Department of Labor and available
at the Public Disclosure Room of the Employee Benefits Security Administration.

		·	Obtain, upon written request to the Plan Administrator, copies of
documents governing the operation of the Plan and copies of the latest annual report (Form 5500 Series) and updated summary plan
description. The Plan Administrator may make a reasonable charge (not to exceed 25 cents per page) for the copies.

		·	Receive a summary of the Plan’s annual financial report, if
required. The Plan Administrator is required by law to furnish each participant a copy of this report. Currently, no summary is
required for the Plan since it is an unfunded plan. 

 

Prudent Actions by Plan Fiduciaries

 

In addition to creating rights for Plan participants ERISA imposes
duties upon the people who are responsible for the operation of the employee benefit plan. The people who operate the Plan, called
“fiduciaries,” have a duty to do so prudently and in the interest of Plan participants. No one, including the participant’s
employer, or any other person, may fire a Plan participant or otherwise discriminate against a Plan participant in any way to prevent
him or her from obtaining a Plan benefit or exercising his or her rights under ERISA.

 

    	15 

    	 

    

 

 

Enforce Your Rights Statement for Covered Executives

 

		·	If your claim for a severance pay benefit is denied or ignored, in
whole or in part, you have a right to know why this was done, to obtain copies of documents relating to the decision without charge,
and to appeal any denial, all within certain time schedules.

		·	Under ERISA, there are steps you can take to enforce the above rights.
For instance, if you request a copy of Plan documents or the latest annual report from the Plan and do not receive them within
30 days, you may file suit in a Federal court. In such a case, the court may require the Plan Administrator to provide the materials
and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the
control of the Plan Administrator. If you have a claim for benefits that is denied or ignored, in whole or in part, you may file
suit in a state or Federal court. If it should happen that Plan fiduciaries misuse the Plan's money, or if you are discriminated
against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a Federal
court. The court will decide who should pay court costs and legal fees. If you are successful the court may order the person you
have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees (for example, if it finds
your claim is frivolous).

 

Assistance with Your Questions

 

If you have any questions about the Plan, you should
contact the Employee Service Center at 1.800.551.3539 or the Plan Administrator.

If you have any questions about this statement or about
your rights under ERISA, or if you need assistance in obtaining documents from the Plan Administrator, you should contact the nearest
office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory or the Division
of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue
N.W., Washington, D.C. 20210.

You may also obtain certain publications about your rights
and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration.

 

    	16 

    	 

    

Plan Administration
Information

	Name of Plan	Cigna Executive Severance Benefits Plan, a component of the Cigna Enterprise Severance Pay Plan
	Type of Plan	Welfare benefits for terminated covered executives
	Plan Year	January 1 to December 31
	Type of Administration	Self-administration
	Plan Sponsor	Cigna Corporation
	Plan Administrator	
        Cigna Executive Severance Benefits Plan

        c/o Plan Administrator

        Two Liberty Place, TL05Z

        1601 Chestnut Street

        Philadelphia, PA 19192

	Appeals Administrator	
        Cigna Executive Severance Benefits Plan

        c/o Appeals Administrator

        Two Liberty Place, TL11F

        1601 Chestnut Street

        Philadelphia, PA 19192

	Agent for Legal Process*	
        Office of Corporate Secretary

        Cigna Corporation

        1601 Chestnut Street, TL7LO

        Philadelphia, PA 19192

	Plan Trustee	None
	Plan Sponsor ID Number	82-4991898
	Plan ID Number	501

 

*Process may also be served on the Plan Administrator at the address
indicated above.

 

    	17

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