Document:

Exhibit 10.5

 

PRIVATE
PLACEMENT WARRANTS PURCHASE AGREEMENT

 

THIS
PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT, dated as of April 25, 2019 (as it may from time to time be amended, this “Agreement”),
is entered into by and between Act II Global Acquisition Corp., a Cayman Islands exempted company (the “Company”)
and Act II Global LLC, a Delaware limited liability company (the “Purchaser”).

 

WHEREAS:

 

The
Company intends to consummate an initial public offering of the Company’s units (the “Public Offering”),
each unit consisting of one Class A ordinary share of the Company, par value $0.0001 per share (each, a “Share”),
and one-half of one redeemable warrant;

 

Each
warrant entitles the holder to purchase one Share at an exercise price of $11.50 per Share; and

 

The
Purchaser has agreed to purchase an aggregate of 6,750,000 warrants (regardless of whether the over-allotment option in connection
with the Public Offering is exercised in full) (the “Private Placement Warrants”), each Private Placement Warrant
entitling the holder to purchase one Share at an exercise price of $11.50 per Share.

 

NOW
THEREFORE, in consideration of the mutual promises contained in this Agreement and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound,
agree as follows:

 

AGREEMENT

 

Section 1. 
Authorization, Purchase and Sale; Terms of the Private Placement Warrants.

 

A.  Authorization
of the Private Placement Warrants.  The Company has duly authorized the issuance and sale of the Private Placement Warrants
to the Purchaser.

 

B.  Purchase
and Sale of the Private Placement Warrants.

 

(i) 
Simultaneously with the consummation of the Public Offering or on such earlier time and date as may be mutually agreed by the
Purchaser and the Company (the “Closing Date”), the Company shall issue and sell to the Purchaser, and the
Purchaser shall purchase from the Company, an aggregate of 6,750,000 Private Placement Warrants at a price of $1.00 per warrant
for an aggregate purchase price of $6,750,000 (the “Purchase Price”). Purchaser shall pay the Purchase Price
by wire transfer of immediately available funds to the trust account (the “Trust Account”) maintained by Continental
Stock Transfer & Trust Company, acting as trustee (“Continental”), or into an escrow account maintained
by Ellenoff Grossman & Schole LLP (“EG&S”), counsel for the Company, at least one (1) business day
prior to the date of effectiveness (the “Effective Date”) of the registration statement relating to the Public
Offering (the “Registration Statement”).  On the Closing Date, upon the payment by the Purchaser of the
Purchase Price, the Company, at its option, shall deliver a certificate evidencing the Private Placement Warrants purchased on
such date duly registered in the Purchaser’s name to the Purchaser or effect such delivery in book-entry form.

 

C.  Terms
of the Private Placement Warrants.

 

(i) 
Each Private Placement Warrant shall have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant
agent, in connection with the Public Offering (the “Warrant Agreement”).

 

(ii) 
On the Effective Date, the Company and the Purchaser shall enter into a registration rights agreement (the “Registration
Rights Agreement”) pursuant to which the Company will grant certain registration rights to the Purchaser relating to
the Private Placement Warrants and the Shares underlying the Private Placement Warrants.

 

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(iii)
The Private Placement Warrants shall be terminated upon the dissolution of the Company or in the event that the Company does not
consummate an initial business combination within the time period set forth in the Company’s memorandum and articles of
association, as the same may be amended from time to time.

 

Section 2. 
Representations and Warranties of the Company.  As a material inducement to the Purchaser to enter into this Agreement
and purchase the Private Placement Warrants, the Company hereby represents and warrants to the Purchaser (which representations
and warranties shall survive the Closing Date) that:

 

A.  Incorporation
and Corporate Power.  The Company is an exempted company duly incorporated, validly existing and in good standing under
the laws of the Cayman Islands and is qualified to do business in every jurisdiction in which the failure to so qualify would
reasonably be expected to have a material adverse effect on the financial condition, operating results or assets of the Company. 
The Company possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this
Agreement and the Warrant Agreement.

 

B.  Authorization;
No Breach.

 

(i) 
The execution, delivery and performance of this Agreement and the Private Placement Warrants have been duly authorized by the
Company as of the Closing Date.  This Agreement constitutes the valid and binding obligation of the Company, enforceable
in accordance with its terms.  Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement
and this Agreement, the Private Placement Warrants will constitute valid and binding obligations of the Company, enforceable in
accordance with their terms as of the Closing Dates.

 

(ii) 
The execution and delivery by the Company of this Agreement and the Private Placement Warrants, the issuance and sale of the Private
Placement Warrants, the issuance of the Shares upon exercise of the Private Placement Warrants and the fulfillment, of and compliance
with, the respective terms hereof and thereof by the Company, do not and will not as of the Closing Dates (a) conflict with
or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation
of any lien, security interest, charge or encumbrance upon the Company’s share capital or assets under, (d) result
in a violation of, or (e) require any authorization, consent, approval, exemption or other action by or notice or declaration
to, or filing with, any court or administrative or governmental body or agency pursuant to the memorandum and articles of association
of the Company (in effect on the date hereof or as may be amended prior to completion of the contemplated Public Offering), or
any material law, statute, rule or regulation to which the Company is subject, or any agreement, order, judgment or decree
to which the Company is subject, except for any filings required after the date hereof under federal or state securities laws.

 

C.  Title
to Securities.  Upon issuance in accordance with, and payment pursuant to, and registration in the register of members
of the Company, the terms hereof, the Warrant Agreement and the memorandum and articles of association of the Company, the Shares
issuable upon exercise of the Private Placement Warrants will be duly and validly issued as fully paid and nonassessable. On the
date of issuance of the Private Placement Warrants, the Shares issuable upon exercise of the Private Placement Warrants shall
have been reserved for issuance. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement,
the Purchaser will have good title to the Private Placement Warrants and the Shares issuable upon exercise of such Private Placement
Warrants, free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions hereunder
and under the other agreements contemplated hereby, (ii) transfer restrictions under federal and state securities laws, and
(iii) liens, claims or encumbrances imposed due to the actions of the Purchaser.

 

D.  Governmental
Consents.  No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority
is required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by
the Company of any other transactions contemplated hereby.

 

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Section 3. 
Representations and Warranties of the Purchaser.  As a material inducement to the Company to enter into this Agreement
and issue and sell the Private Placement Warrants to the Purchaser, the Purchaser hereby represents and warrants to the Company
(which representations and warranties shall survive the Closing Date) that:

 

A.  Organization
and Requisite Authority.  The Purchaser possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement.

 

B.  Authorization;
No Breach.

 

(i) 
This Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject
to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating
to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii) 
The execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the
Purchaser does not and shall not as of the Closing Date conflict with or result in a breach by the Purchaser of the terms, conditions
or provisions of any agreement, instrument, order, judgment or decree to which the Purchaser is subject.

 

C.  Investment
Representations.

 

(i) 
The Purchaser is acquiring the Private Placement Warrants and, upon exercise of the Private Placement Warrants, the Shares issuable
upon such exercise (collectively, the “Securities”), for the Purchaser’s own account, for investment
purposes only and not with a view towards, or for resale in connection with, any public sale or distribution thereof.

 

(ii) 
The Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D under
the Securities Act of 1933, as amended (the “Securities Act”).

 

(iii) 
The Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from
the registration requirements of the United States federal and state securities laws and that the Company is relying upon the
truth and accuracy of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth
herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

(iv) 
The Purchaser decided to enter into this Agreement not as a result of any general solicitation or general advertising within the
meaning of Rule 502(c) under the Securities Act.

 

(v) 
The Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and materials
relating to the offer and sale of the Securities which have been requested by the Purchaser.  The Purchaser has been afforded
the opportunity to ask questions of the executive officers and directors of the Company.  The Purchaser understands that
its investment in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it
has considered necessary to make an informed investment decision with respect to the acquisition of the Securities.

 

(vi) 
The Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed
on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities
by the Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(vii) 
The Purchaser understands that: (a) the Securities have not been and are not being registered under the Securities Act or
any state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered
thereunder or (2) sold in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration
Rights Agreement, neither the Company nor any other person is under any obligation to register the Securities under the Securities
Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder.  The Private Placement
Warrants will bear a legend and appropriate “stop transfer” instructions (or an appropriate notation if the warrants
are issued in book entry form) relating to the foregoing. The Purchaser further understands that the Securities and Exchange Commission
(the “SEC”) has taken the position that promoters or affiliates of a blank check company and their transferees,
both before and after an initial business combination, are deemed to be “underwriters” under the Securities Act when
reselling the securities of a blank check company.  Based on that position, Rule 144 adopted pursuant to the Securities
Act would not be available for resale transactions of the Securities until the one-year anniversary following consummation of
an initial business combination despite technical compliance with the requirements of such Rule.

 

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(viii) 
The Purchaser has such knowledge and experience in financial and business matters, knows of the high degree of risk associated
with investments in the securities of companies in the development stage such as the Company, is capable of evaluating the merits
and risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount
contemplated hereunder for an indefinite period of time.  The Purchaser has adequate means of providing for its current financial
needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment
in the Securities.  The Purchaser can afford a complete loss of its investment in the Securities.

 

Section 4. 
Conditions of the Purchaser’s Obligations.  The obligations of the Purchaser to purchase and pay for the Private
Placement Warrants are subject to the fulfillment, on or before the Closing Date, of each of the following conditions:

 

A.  Representations
and Warranties.  The representations and warranties of the Company contained in Section 2 shall be true and correct
at and as of such Closing Date as though then made.

 

B.  Performance. 
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by it on or before such Closing Date.

 

C.  No
Injunction.  No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been
enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

D.  Warrant
Agreement.  The Company shall have entered into the Warrant Agreement with a warrant agent.

 

E.
Corporate Consents. The Company shall have obtained the consent of its Board of Directors authorizing the execution, delivery
and performance of this Agreement and the Warrant Agreement and the issuance and sale of the Private Placement Warrants.

 

Section 5. 
Conditions of the Company’s Obligations.  The obligations of the Company to the Purchaser under this Agreement
are subject to the fulfillment, on or before the Closing Date, of each of the following conditions:

 

A.  Representations
and Warranties.  The representations and warranties of the Purchaser contained in Section 3 shall be true and correct
at and as of such Closing Date as though then made.

 

B.  Performance. 
The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by the Purchaser on or before such Closing Date.

 

C.  No
Injunction.  No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been
enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

D.  Warrant
Agreement.  The Company shall have entered into the Warrant Agreement with a warrant agent on terms satisfactory to the
Company.

 

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Section 6. 
Termination.  This Agreement may be terminated at any time after June 30, 2019 upon the election by either the Company
or the Purchaser solely as to itself upon written notice to the other parties if the closing of the Public Offering does not occur
prior to such date.

 

Section 7. 
Survival of Representations and Warranties.  All of the representations and warranties contained herein shall survive
the Closing Date.

 

Section 8. 
Definitions.  Terms used but not otherwise defined in this Agreement shall have the meaning assigned to such terms in
the Registration Statement.

  

Section 9. 
Miscellaneous.

 

A.  Successors
and Assigns.  Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement
by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto
whether so expressed or not.  Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign
this Agreement without the prior written consent of the other party hereto, other than assignments by the Purchaser to affiliates
thereof.

 

B.  Severability. 
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall
be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C.  Counterparts. 
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than
one party, but all such counterparts taken together shall constitute one and the same agreement.

 

D.  Descriptive
Headings; Interpretation.  The descriptive headings of this Agreement are inserted for convenience only and do not constitute
a substantive part of this Agreement.  The use of the word “including” in this Agreement shall be by way
of example rather than by limitation.

 

E.  Governing
Law.  This Agreement shall be deemed to be a contract made under the laws of the State of New York and for all purposes
shall be construed in accordance with the internal laws of the State of New York, without regard to the conflicts of laws principles
thereof.

 

F.  Amendments. 
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed
by all parties hereto.

 

[Signature
page follows]

 

    5

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	ACT
    II GLOBAL ACQUISITION CORP. 
	 	 
	 	By:	/s/
    John Carroll
	 	 	Name: 	John
Carroll
	 	 	Title:	Chief
    Executive Officer
	 	 
	 	PURCHASER:
	 	 
	 	ACT
    II GLOBAL LLC
	 	 
	 	By:	/s/
    John Carroll
	 	 	Name:	John
    Carroll
	 	 	Title:	Managing
    Member

 

[Signature
page to Private Placement Warrants Purchase Agreement]hum20190331ex102

                                                                                                                               HUMANA INC.                            RESTRICTED STOCK UNIT AGREEMENT                       AND AGREEMENT NOT TO COMPETE OR SOLICIT                UNDER THE AMENDED AND RESTATED STOCK INCENTIVE PLAN                                                                                                    THIS RESTRICTED STOCK UNIT AGREEMENT ("Agreement") made as of <award_date> (the  “Date of Grant”) by and between HUMANA INC., a corporation duly organized and existing under the laws  of the State of Delaware (hereinafter referred to as the "Company"), and <first_name> <middle_name>  <last_name>, an employee of the Company (hereinafter referred to as "Grantee").         WITNESSETH:         WHEREAS,  the  Amended  and  Restated  Humana  Inc.  Stock  Incentive  Plan  (the "Plan")  was  approved by the Company's Board of Directors and stockholders; and         WHEREAS, the Company desires to award to Grantee Restricted Stock Units in accordance with  the Plan.         NOW,  THEREFORE,  in  consideration  of  the  award  of  Restricted  Stock  Units  to  Grantee,  the  promises  and  mutual  covenants  hereinafter  set  forth,  and  other good  and  valuable  consideration,  the  Company and Grantee agree as follows:    I.     RESTRICTED STOCK UNIT GRANT          A.     Grant.  Subject to the terms and conditions hereinafter set forth, and in accordance with  the provisions of the Plan, the Company hereby grants to Grantee, and Grantee hereby accepts from the  Company <shares_awarded> Restricted Stock Units.  Each Restricted Stock Unit represents the right of  Grantee to receive (i) one (1) Share on the date of distribution provided for in Section I.E.  In addition,  Grantee shall also have the right to receive all of the cash or in-kind dividends that are paid with respect to  the Shares represented by the Restricted Stock Units to which this award relates (“DERs”).   Dividend  equivalents with respect to any such Share shall be paid on the same date that such Share is issued to  Grantee pursuant to Section I.E. hereof.  The DERs shall be subject to the same terms and conditions  applicable to the Restricted Stock Units, including, without limitation, the restrictions and non-transferability,  vesting,  forfeiture  and  distribution  provisions  contained  in  Sections  I.B  through  I.E.,  inclusive,  of  this  Agreement.  In the event that the Restricted Stock Units are forfeited pursuant to Section I.D. hereof, the  related DER shall also be forfeited.          B.     Restrictions and Non-Transferability.  The Restricted Stock Units and DERs may not be  sold, transferred, pledged, assigned or otherwise alienated or hypothecated.  In addition, such Restricted  Stock Units and DERs shall be subject to forfeiture in accordance with the provisions of Section I.D.          C.     Vesting of Restricted Stock Units.  The Restricted Stock Units shall vest in three equal  installments, with the first installment vesting on [December 15] of the year in which the Date of Grant  occurs, and the next two installments vesting on [December 15] of each of the next two years (each such      - 1 -                                                                             RSU – NCNS - RE 

 

    date, a “Vesting Date”) subject to Grantee’s continued employment with the Company through each such  Vesting Date, except as set forth in Sections 12 and 13 of the Plan.         D.    Forfeiture.   Except as set forth in Sections 12 and 13 of the Plan, upon the termination  of Grantee's employment with the Company prior to the time the Restricted Stock Units and DERs have  vested, the Restricted Stock Units and DERs shall be forfeited immediately by Grantee.          E.     Distributions.  The Company shall issue to Grantee (or, if applicable, Grantee’s estate or  personal representative) Shares (or such other securities or other property into which the Shares have been  converted,  with  any  partial  Shares  or  other  securities  to  be  settled  in  cash)  with  respect  to  Grantee’s  Restricted  Stock  Units  and  dividend  equivalents  accrued  pursuant  to  the  DERs  with  respect  to  such  Restricted Stock Units, within 30 days of the date that the Restricted Stock Units vest in accordance with  Section I.C hereof; provided, however, that, to the extent that the Restricted Stock Units are considered  deferred  compensation  subject  to  Section  409A  of  the  Code  and  the  Restricted  Stock  Units  vest  in  connection  with  Grantee’s  Change  in  Control  Termination  (defined  below),  then  unless  the  Change  in  Control is a Section 409A Change in Control, the distribution of  Shares (or such other securities or other  property into which the Shares have been converted) shall not be accelerated to the vesting date but such  distribution shall instead occur based on the Vesting Dates set forth in Section I.C. hereof.  A “Section 409A  Change in Control” shall mean a Change in Control that also constitutes a “change in ownership or effective  control” of the Company or a “change in ownership of a substantial portion of the assets of” the Company,  in each case within the meaning of Section 409A of the Code.  Notwithstanding anything to the contrary  contained herein, no Shares may be transferred to any person other than Grantee unless such other person  demonstrates to the reasonable satisfaction of the Company such person’s right to the transfer.            F.    Taxes.  Federal, state and local income and employment taxes and other amounts as may  be  required  by  law  to  be  collected  by  the  Company  (“Withholding  Taxes”)  in  connection  with  the  distribution of Shares, cash or other property or, to the extent applicable, vesting of the Restricted Stock  Units  or  DERs  hereunder,  shall  be  paid  by  Grantee  at  such  time.   Notwithstanding  the  foregoing,  the  Company shall withhold delivery of a number of Shares with a Fair Market Value as of the distribution date  equal to the Withholding Taxes required to be withheld in connection with such distribution.            II.    AGREEMENT NOT TO COMPETE AND AGREEMENT NOT TO SOLICIT.  Grantee agrees and  understands that the Company’s business is a profit-generating business operating in a highly competitive  business environment and that the Company has a legitimate business interest in, among other things, its  confidential information and trade secrets (including as protected in other agreements and policies between  the Company and Grantee) that it is providing Grantee, and in the significant time, money, training, team  building and other efforts it expends to develop Grantee’s skills to assist in performing Grantee’s duties for  the Company, including with respect to establishing, developing and maintaining the goodwill and business  relationships with Protected Relationships (defined below) and employees, each of which Grantee agrees  are valuable assets of the Company to which it has devoted substantial resources. Grantee acknowledges                                              - 2 -    

 

    that the grant Grantee is receiving under the Plan is a meaningful way that the Company entrusts Grantee  with its goodwill and aligns Grantee with the Company objective of increasing the value of the Company’s   business.  Accordingly, Grantee acknowledges the importance of protecting the value of the Company’s  business through, among other things, covenants to restrict Grantee from engaging in activities that would  adversely affect the value of the Company and its goodwill.        A.     Agreement Not to Compete. Grantee agrees that during the Restricted Period (defined  below) and within the Restricted Geographic Area (defined below), Grantee will not, directly or indirectly,  perform  the  same  or  similar  responsibilities  Grantee  performed for  the  Company  in  connection  with  a  Competitive  Product  or  Service (defined  below).  Notwithstanding  the  foregoing,  Grantee  may  accept  employment with a Competitor (defined below) whose business is diversified, provided that: (1) Grantee  will  not  be  engaged  in  working  on  or  providing  Competitive  Products  or  Services,  or  otherwise  use  or  disclose the Company’s confidential information or trade secrets; and (2) the Company receives written  assurances from the Competitor and Grantee that are satisfactory to the Company that Grantee will not  work on or provide Competitive Products or Services, or otherwise use or disclose confidential information  or  trade  secrets.   In  addition,  nothing  in  this  Agreement  is  intended  to  prevent  Grantee  from  investing  Grantee’s  funds  in  securities  of  a  person  engaged  in  a  business  that  is  directly  competitive  with  the  Company if the securities of such a person are listed for trading on a registered securities exchange or  actively traded in an over-the-counter market and Grantee’s holdings represent less than one percent (1%)  of the total number of outstanding shares or principal amount of the securities of such a person.        B.    Agreement Not to Solicit Protected Relationships. During the Restricted Period and in  connection  with  a  Competitive  Product  or  Service,  Grantee  shall  not,  individually  or  jointly  with  others,  directly or indirectly: (1) solicit or attempt to solicit any Protected Relationships (defined below); or (2) induce  or encourage any Protected Relationships to terminate a relationship with the Company or to otherwise  cease to accept services or products from the Company.        C.     Agreement Not to Solicit Employees.  During the Restricted Period, Grantee shall not,  individually or jointly with others, directly or indirectly: (1) or by assisting others, solicit, recruit, hire, or  encourage (or attempt to solicit, recruit, hire or encourage), any Company employees or former employees  with  whom  Grantee  worked,  had  business  contact,  or  about  whom  Grantee  gained  non-public  or  confidential information (“Employees or Former Employees”); (2) contact or communicate with Employees  or  Former  Employees  for  the  purpose  of  inducing,  assisting,  encouraging  and/or  facilitating  them  to  terminate their employment with the Company or find employment or work with another person or entity;  (3) provide or pass along to any person or entity the name, contact and/or background information about  any  Employees  or  Former  Employees  or  provide  references  or  any other  information  about  them;  (4)  provide  or  pass  along  to  Employees  or  Former  Employees  any  information  regarding  potential  jobs  or  entities or persons to work for, including but not limited to job openings, job postings, or the names or  contact information of individuals or companies hiring people or accepting job applications; and/or (5) offer  employment or work to any Employees or Former Employees.  For purposes of this covenant, “Former                                              - 3 -    

 

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

 

    any  agreement  between Grantee  and the  Company  relating  to  the  prohibitions  on  Grantee  set  forth  in  Section  II.A,  with  the  exception  of  any  similar  agreement  contained  in  (i)  any  employment  agreement  between Grantee and the Company, (ii) any agreement between Grantee and the Company not related to  the employment of Grantee by the Company, (iii) any severance plan or policy of the Company and (iv) any  change in control severance plan or policy of the Company.         2.     In the event of a Change in Control Termination, the prohibitions on Grantee set forth in  Sections II.B. and II C. shall remain in full force and effect.        F.     Governing Law. Notwithstanding any other provision herein to the contrary, the provisions  of this Section II of the Agreement shall be governed by, and construed in accordance with, the laws of the  Commonwealth of Kentucky without regard to its conflicts or choice of laws rules or principles that might  otherwise refer construction or interpretation of this Section II to the substantive law of another jurisdiction.         G.    Injunctive Relief; Invalidity of Any Provision.  Grantee acknowledges that (1) his or her  services to the Company are of a special, unique and extraordinary character, (2) his or her position with  the Company will place him or her in a position of confidence and trust with respect to the operations of the  Company, (3) he or she will benefit from continued employment with the Company, (4) the nature and  periods  of  restrictions  imposed  by  the  covenants  contained  in  this  Section  II  are  fair,  reasonable  and  necessary to protect the Company, (5) the Company would sustain immediate and irreparable loss and  damage if Grantee were to breach any of such covenants, and (6) the Company’s remedy at law for such  a breach will be inadequate.  Accordingly, Grantee agrees and consents that the Company, in addition to  the recovery of damages and all other remedies available to it, at law or in equity, shall be entitled to seek  both preliminary and permanent injunctions to prevent and/or halt a breach or threatened breach by Grantee  of any covenant contained in Section II hereof.  If any provision of this Section II is determined by a court  of competent jurisdiction to be invalid in whole or in part, it shall be deemed to have been amended, whether  as to time, area covered or otherwise, as and to the extent required for its validity under applicable law, and  as so amended, shall be enforceable.  The parties further agree to execute all documents necessary to  evidence such amendment.    III.   MISCELLANEOUS PROVISIONS          A.     Binding Effect & Adjustment.  This  Agreement  shall  be  binding  and  conclusive  upon  each successor and assign of the Company.  Grantee’s obligations hereunder shall not be assignable to  any other person or entity. It is the intent of the parties to this Agreement that the benefits of any appreciation  of the underlying Shares during the term of the Award shall be preserved in any event, including but not  limited to a recapitalization, merger, consolidation, reorganization, stock dividend, stock split, reverse stock  split, spin-off or similar transaction, or other change in corporate structure affecting the Shares, as more  fully described in Sections 4.6 and 11 of the Plan.  All obligations imposed upon Grantee and all rights  granted to Grantee and to the Company shall be binding upon Grantee's heirs and legal representatives.                                              - 5 -    

 

          B.     Amendment.  This Agreement may only be amended by a writing executed by each of the  parties hereto.        C.     Governing  Law.   Except  as  to  matters  of  federal  law  and  the  provisions  of  Section  II  hereof, this Agreement shall be governed by, and construed in accordance with, the laws of the State of  Delaware  without  regard  to  its  conflict  of  laws  rules.  This  Agreement  shall  also  be  governed  by,  and  construed in accordance with, the terms of the Plan.        D.     No Employment Agreement.  Nothing herein confers on Grantee any rights with respect  to the continuance of employment or other service with the Company, nor will it interfere with any right the  Company would otherwise have to terminate or modify the terms of Grantee's employment or other service  at any time.        E.     Severability.  If any provision of this Agreement is or becomes or is deemed invalid, illegal  or  unenforceable  in  any  relevant  jurisdiction,  or  would  disqualify  this  Award  under  any  law  deemed  applicable  by  the  Committee,  such  provision  shall  be  construed or  deemed  amended  to  conform  to  applicable  laws  or  if  it  cannot  be  construed  or  deemed  amended without,  in  the  determination  of  the  Committee, materially altering the intent of the Plan, it shall be stricken and the remainder of the Agreement  shall remain in full force and effect.        F.     Defined Terms.           1.     Any term used herein and not otherwise defined herein shall have the same meaning as in  the Plan.  Any conflict between this Agreement and the Plan will be resolved in favor of the Plan.  Any  disputes  or  questions  of  right  or  obligation  which  shall  result  from  or  relate  to  any  interpretation  of  this  Agreement shall be determined by the Committee.  Any such determination shall be binding and conclusive  upon Grantee and any person or persons claiming through Grantee as to any rights hereunder.         2.    For the purposes of this Agreement, the following terms shall have the following meaning:          (i)  “Change in Control Termination” means, in the event unvested Restricted Stock Units and            DERs are assumed, converted, continued or substituted in connection with a Change in Control            in accordance with Section 11.1 of the Plan, if the employment of Grantee is terminated within            two (2) years following the Change in Control (i) by the Company or its acquirer or successor            for any reason other than Cause or (ii) by Grantee with Good Reason.         (ii)  “Competitive  Product  or  Service”  means  any  product,  process,  system  or  service  (in            existence or under development) of any person or organization other than the Company that is            the same as, similar to, or competes with, a product, process, system or service (in existence            or under development) upon which Grantee worked or for which Grantee had responsibilities            at the Company during the twenty-four (24) months prior to the Last Day (as defined below).         (iii)  “Competitor”  means  Grantee  or  any  other  person  or  organization  engaged  in,  or  about  to            become  engaged  in,  research  or development,  production,  marketing,  leasing,  selling,  or            servicing of a Competitive Product or Service.                                              - 6 -    

 

          (iv)  “Last  Day”  means  Grantee’s  last  day  of  employment  with  the  Company  regardless  of  the            reason for Grantee’s separation.        (v)  “Protected Relationship” means policyholders, agents, brokers, dealers, distributers, sources            of  supply  or  customers  with  whom,  within  twenty-four  (24)  months  prior  to  the  Last  Day,            Grantee, directly or indirectly (e.g., through employees whom Grantee supervised) had material            business  contact  and/or  about  whom  Grantee  obtained  confidential  information  and  trade            secrets.        (vi)  “Restricted  Geographic  Area”  means  the  territory  (i.e.:  (i)  state(s),  (ii)  county(ies),  or  (iii)            city(ies)) in which, during the twenty-four (24) months prior to the Last Day, Grantee provided            material services on behalf of the Company (or in which Grantee supervised directly, indirectly,            in whole or in part, the servicing activities).         (vii) “Restricted  Period”  means  the  period  of  Grantee’s employment  with  the  Company  and a            period of twelve (12) months after the Last Day.  Grantee recognizes that the durational term            is reasonably and narrowly tailored to the Company’s legitimate business interest and need for            protection with each position.        G.     Execution.  If Grantee shall fail to execute this Agreement, either manually with a paper  document, or through the online grant agreement procedure with the Company’s designated broker–dealer,  and, if manually executed, return the executed original to the Secretary of the Company, the Award shall be  null and void.  The choice of form will be at the Company’s discretion.        H.     Section 409A.   All Restricted Stock Units granted pursuant to this Agreement are intended  either  to  be  exempt  from  Section  409A  of  the  Code,  or,  if  subject  to  Section  409A  of  the  Code,  to  be  administered,  operated  and  construed  in  compliance  with  Section  409A  of  the  Code  and  any  guidance  issued thereunder.  This Agreement and the Plan shall be administered in a manner consistent with this  intent and any provision that would cause the Agreement or Plan to fail to satisfy the first sentence of this  section shall have no force and effect. Notwithstanding anything contained herein to the contrary, Restricted  Stock Units (and related DERs) that (a) constitute “nonqualified deferred compensation” as defined under  Section 409A of the Code and (b) vest as a consequence of Grantee’s termination of employment, shall not  be delivered until the date that Grantee incurs a “separation from service” within the meaning of Section 409A  of the Code (or, if Grantee is a “specified employee” within the meaning of Section 409A of the Code and  any  guidance  issued  thereunder,  the  date  that  is  six  months  and  one  day  following  the  date  of  such  “separation from service” (or on the date of Grantee’s death, if earlier)).  In addition, each amount to be paid  or benefit to be provided to Grantee pursuant to this Agreement that constitutes deferred compensation  subject to Section 409A of the Code, shall be construed as a separate identified payment for purposes of  Section 409A of the Code.          IN WITNESS WHEREOF, Company has caused this Agreement to be executed on its behalf by its  duly authorized officer, and Grantee has executed this Agreement, each as of the day first above written.                                                                                                "Company"                                             - 7 -    

 

                                                      ATTEST:      HUMANA INC.                   BY:       BY:            JOSEPH C. VENTURA                              BRUCE D. BROUSSARD  Chief Legal Officer & Corporate Secretary            President & Chief Executive Officer                       “Grantee”                                                                        <first_name> <middle_name> <last_name>                                                  - 8 -

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