Document:

Exhibit 1020

		
			EXHIBIT 10.20
		

		
			 
		

		
			SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION
		

		
			 
		

		
			Effective July 1, 2012, except as otherwise disclosed by the Company, non-employee directors receive the following compensation for their service on the Board of Directors and committees of the Board of Directors:
		

		
			Cash Compensation
		

			
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Position

					
					
						 

					
					
						Amount

				
	
					
						Non-employee (“NE”) Director Annual Retainer

					
					
						 

					
					
						$

					3,000 
					
					
						 

				
	
					
						NE Director Board Meeting Attendance Fee (telephonic)

					
					
						 

					
					
						1,000 (500)

					
					
						 

				
	
					
						NE Director Committee Meeting Attendance Fee - live or telephonic

					
					
						 

					500 
					
					
						 

				
	
					
						Chair of Board of Directors Annual Retainer

					
					
						 

					2,500 
					
					
						 

				
	
					
						Chair of Audit Committee Annual Retainer

					
					
						 

					1,000 
					
					
						 

				
	
					
						Chair of Compensation and Governance Committee Annual Retainer

					
					
						 

					750 
					
					
						 

				
	
					
						Chair of Nominating Committee Annual Retainer

					
					
						 

					750 
					
					
						 

				

		
			 
		

		
			Stock Options
		

		
			 
		

		
			Each non-employee director receives an annual stock option grant of 50,000 shares of common stock, with an exercise price equal to the fair market value of the common stock on the date of grant and a term of ten years, or an equivalent grant of shares of restricted stock. Effective March 3, 2009, the Board of Directors adopted a new vesting schedule for option awards and restricted stock grants, with the grants to vest in full one year from the date of grant. 
		

		
			 
		

		
			Expense reimbursement
		

		
			 
		

		
			In addition to cash and stock-based compensation, non-employee directors are reimbursed for their out-of-pocket expenses, including travel, meals and accommodation expenses, incurred in attending meetings of the Board of Directors, committee meetings, and conferences with the Company’s management.MUTUAL RELEASE AND AGREEMENT TO TERMINATE
STOCK ISSUANCE

 

This Mutual Release (this
“Mutual Release”) is dated March 23, 2016, and is given by and between EliteSoft Global, Inc., a Delaware corporation,
and its directors, officers, advisors and employees (collectively “EliteSoft”) and Tech Associates, Inc., and its director,
officer and employee, Richard Chiang (collectively “Tech”), hereinafter collectively referred to as, “the Parties”.

 

WHEREAS, on May 1, 2015,
the Board of Directors for EliteSoft and its majority shareholder approved the engagement of Tech as its corporate advisor to assist
in its ‘going public’ strategy (the “Consulting Agreement”). The initial term of the Consulting Agreement
was for six months, with an option for ongoing continuity of service. The parties had agreed to monthly compensation of $2,000
per month and the issuance of 250,000 shares of restricted common stock with piggyback registration rights on any registration
statement, payable on October 1, 2015 (the “Tech Shares”). The Tech Shares were issued on October 1, 2015. The Consulting
Agreement was disclosed on Form 8-K with the United States Securities and Exchange Commission (the “Commission”) on
October 20, 2015, and the Tech Engagement was attached as Exhibit 10.3 thereto.

 

WHEREAS, on February 16,
2016, Tech terminated the Consulting Agreement. The termination notice is incorporated and merged herein, and is attached hereto
as Exhibit A (the “ Letter of Termination”) and had requested in writing to cancel the Tech Shares.

 

WHEREAS, the Parties have
agreed to this Mutual Release, which includes, as consideration, a release by EliteSoft in consideration of the cancellation of
the Tech Shares as requested in the Letter of Termination.

 

NOW THEREFORE, the Parties
agree as follows:

 

1.                  
Release by EliteSoft. EliteSoft, in consideration of the cancellation of the Tech Shares,
hereby discharges, acquits and forever releases Tech from any and all damage claims, demands, accounts, actions, proceedings and
sums of money that it, at any time, has had or has or that it, or its assigns, designees or creditors can or may have against Tech
by reason of any fact, circumstance, event, condition, transaction or occurrence, whether known or unknown, up to and including
the date of execution of this Mutual Release related, in any way to the performance under the Consulting Agreement. 

 

2.                  
 Release by Tech. Tech, in consideration of the release by EliteSoft, above, releases,
acquits and forever discharges EliteSoft from any and all damage claims, demands, accounts, actions, proceedings and sums of money
that it, at any time, has had or have or that its assigns, designees or creditors can or may have against EliteSoft by reason of
any fact, circumstance, event, condition, transaction or occurrence, whether known or unknown, up to and including the date of
execution of this Mutual Release.

 

3.                  
Cancellation of Tech Shares. As further consideration of the release herein, Tech has
agreed to terminate any and all rights, title or interest in the Tech Shares. Tech appoints EliteSoft as its limited power of attorney
to take any and all necessary action with the Commission and/or its transfer agent in effectuating the cancellation of the Tech
Shares. The shares shall be cancelled by EliteSoft as of the date of this Mutual Release.

 

 

 

 

 

    	-1- 

    	 

    

4.                  
Miscellaneous. (a) This Mutual Release shall be effective as of the date when both
parties have duly executed this Mutual Release by signing in the spaces below; (b) This Mutual Release may be executed in counterparts,
each of which shall constitute an original copy of this Mutual Release once all Parties have executed at least one such counterpart,
and one (or more) fully executed original Mutual Release(s) may be assembled from all such counterparts; (c) For the purposes of
this Mutual Release, a facsimile copy of this Mutual Release, include the signatures of the Parties, shall be deemed an original;
and (d) the Parties agree to the filing of this Release with the Commission.

 

 

APPROVED:

  

ELITESOFT GLOBAL, INC.

 

/s/Swee Seong “Eugene” Wong

Swee Seong “Eugene” Wong

Chief Executive Officer

  

TECH ASSOCIATES, INC.

 

/s/Richard Chiang

Richard Chiang

President

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	-2- 

     

    

 

 

 EXHIBIT A

  

 

 

 

 

    	-3- 

    	 

    

    	-4-EX-4.1

 Exhibit 4.1 

SECOND SUPPLEMENTAL INDENTURE 

Second Supplemental Indenture (this “Second Supplemental Indenture”), dated as of March 24, 2016, between Health Net,
Inc., a Delaware corporation formerly known as Chopin Merger Sub II, Inc. (the “Company”) and The Bank of New York Mellon Trust Company, N.A. as trustee (the “Trustee”). 

W I T N E S S E T H 
 WHEREAS,
Health Net, Inc., a Delaware corporation (“Health Net”), has heretofore executed and delivered to the Trustee an Indenture, dated as of May 18, 2007 (the “Original Indenture”), as amended by the First
Supplemental Indenture, dated as of August 12, 2015 (together with the Original Indenture, the “Indenture”), providing for the issuance from time to time of its unsecured debentures, notes or other evidences of indebtedness to
be issued in one or more series (the “Securities”) up to such principal amount or amounts as may from time to time be authorized in accordance with the terms of the Indenture; 

WHEREAS, Health Net has heretofore executed and delivered to the Trustee two officer’s certificates, dated May 18, 2007 and
May 31, 2007, (each an “Officer’s Certificate,” and collectively, the “Officer’s Certificates”) establishing the terms and form of Health Net’s $400,000,000 aggregate principal amount of its
6.375% Senior Notes due 2017 (the “Notes”); 
 WHEREAS, on July 2, 2015, Health Net, Centene Corporation, a Delaware
corporation (“Centene”), Chopin Merger Sub I, Inc., a Delaware corporation (“Merger Sub I”) and the Company entered into the merger agreement (the “Merger Agreement”), which provides that, subject
to the terms and conditions of the Merger Agreement and in accordance with the General Corporation Law of the State of Delaware (“DGCL”), Merger Sub I will merge with and into Health Net, with Health Net continuing as the surviving
entity and a direct wholly owned subsidiary of Centene (the “First Merger”); 
 WHEREAS, the Merger Agreement provides
that, following the completion of the First Merger and subject to the terms and conditions of the Merger Agreement and in accordance with the DGCL, Health Net will merge with the Company, with the Company continuing as the surviving entity and being
renamed Health Net, Inc. (the “Second Merger”); 
 WHEREAS, the First Merger and the Second Merger were consummated on the
date hereof; 
 WHEREAS, the Indenture provides pursuant to Section 9.1 that following the completion of a merger involving the Issuer,
if the Issuer is not the continuing corporation, the successor corporation shall expressly assume by supplemental indenture all the obligations of the Issuer under the Securities and the Indenture; and 

WHEREAS, Section 8.1 of the Indenture provides that a supplemental indenture may be entered into without the consent of the
Securityholders to evidence the succession of another corporation to the Issuer and the assumption by the successor corporation of the covenants, agreements and obligations of the Issuer pursuant to Article IX of the Indenture. 

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged,
the parties mutually covenant and agree as follows: 

  
 1 

 (1) Capitalized Terms. Capitalized terms used herein without definition shall have the
meanings assigned to them in the Indenture. 
 (2) Agreement to Assume Obligations. Effective upon the execution of this Second
Supplemental Indenture, the Company hereby agrees to assume all Health Net’s obligations of the Issuer under the Securities and the Indenture on the terms and subject to the conditions set forth in the Indenture. 

(3) Release of Obligations. Effective upon the execution of this Second Supplemental Indenture, Health Net is relieved of all
obligations and covenants under the Indenture and the Securities, without any further action on the part of Health Net or the Trustee. 

(4) Governing Law. THIS SECOND SUPPLEMENTAL INDENTURE SHALL BE DEEMED TO BE A CONTRACT UNDER THE LAWS OF THE STATE OF NEW YORK, AND FOR
ALL PURPOSES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF SUCH STATE, INCLUDING, WITHOUT LIMITATION, SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW AND NEW YORK CIVIL PRACTICE LAWS AND RULES 327(b).

EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL
BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS SECOND SUPPLEMENTAL INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY. 

(5) Counterparts. This Second Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original;
but such counterparts shall together constitute but one and the same instrument. 
 (6) Effect of Headings. The Section headings
herein are for convenience only and shall not affect the construction hereof. 
 (7) The Trustee. The recitals contained herein shall
be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representation as to the validity or sufficiency of this Second Supplemental Indenture. 

(8) Successors. All the covenants, stipulations, promises and agreements in this Second Supplemental Indenture contained by or on
behalf of the Company shall bind its successors and assigns, whether so expressed or not. 
 (9) Notice. Notice of this Second
Supplemental Indenture to The Depository Trust Company (“DTC”) will be sent via applicable DTC procedures. 

  
 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Second Supplemental Indenture to be duly
executed, all as of the date first above written. 
  

			
	HEALTH NET, INC. (f/k/a CHOPIN MERGER SUB II, INC.)
		
	By:	 	 /s/ Keith H. Williamson

	Name:	 	Keith H. Williamson
	Title:	 	Secretary
	
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

as Trustee

		
	By:	 	 /s/ Lawrence M. Kusch

	Name:	 	Lawrence M. Kusch
	Title:	 	Vice President

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