Document:

ex10-15.htm

    Exhibit
10.15

     

    CIGNA
SUPPLEMENTAL PENSION PLAN OF 2005

    (Effective
as of January 1, 2005)

    

    

    CIGNA
Corporation, for itself and its subsidiaries that participate in the CIGNA
Pension Plan, established the CIGNA Supplemental Pension Plan effective January
1, 1983 to provide eligible employees with retirement benefits that cannot be
provided by the CIGNA Pension Plan because of certain restrictions.

    

    This Plan
is an "excess benefit plan" under ERISA Section 3(36) and an unfunded plan
maintained primarily for the purpose of providing deferred compensation for a
select group of management or highly compensated employees under ERISA Section
401(a)(1).

    

    Due to
requirements imposed by Internal Revenue Code Section 409A, CIGNA is freezing
the CIGNA Supplemental Pension Plan as of December 31, 2004 and adopting this
new plan – the CIGNA Supplemental Pension Plan of 2005, effective as of January
1, 2005.  The frozen CIGNA Supplemental Pension Plan will provide only
supplemental retirement benefits that were earned and 100% vested as of December
31, 2004.  This new plan will provide supplemental retirement benefits
that are earned or (regardless of when earned) become 100% vested after December
31, 2004.

    

    

    Article
I                      Definitions

    

    Except as
otherwise provided in this document, Plan terms with initial capital letters are
as defined in the CIGNA Pension Plan.  The following definitions apply
to this Plan:

    

    
      	
              1.1

            	
              "Beneficiary"
      means the person(s) (or trust) designated by a Participant, or determined
      by the Plan Administrator, under Section
4.5.

            

    

    

    
      	
              1.2

            	
              "CIGNA" means
      CIGNA Corporation, a Delaware corporation, or its
    successor.

            

    

    

    
      	
              1.3

            	
              “Code” means
      the Internal Revenue Code of 1984, as
amended.

            

    

    

    
      	
              1.4

            	
              "Committee"
      means the Corporate Benefit Plan Committee of CIGNA, or a successor
      committee or person designated by CIGNA's Chief Executive
      Officer.

            

    

    

    
      	
              1.5

            	
              "Company" means
      CIGNA Corporation and those of its subsidiaries and affiliates that
      participate in the CIGNA Pension
Plan.

            

    

    

    
      	
              1.6

            	
              "Deferred Compensation
      Plan" means the CIGNA Deferred Compensation Plan, any successor
      plan, and any similar plans or arrangements maintained by the
      Company.

            

    

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    
 

    
      	
              1.7

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

            

    

    

    
      	
              1.8

            	
              “Frozen Plan”
      means the CIGNA Supplemental Pension Plan, originally adopted effective
      January 1, 1983, as amended, and as frozen effective December 31,
      2004.

            

    

    

    
      	
              1.9

            	
              "Participant"
      means any Eligible Employee who is eligible to participate in the Plan but
      only to the extent that the employee has (or might have in the event of
      Retirement at his earliest Early Retirement date under the Pension Plan)
      an accrued Plan benefit as described in Section
  3.1.

            

    

    

    
      	
              1.10

            	
              "Part A
      Participant" means a Participant who accrues a Pension Plan benefit
      under the formula described in the Part A version of the Pension
      Plan.

            

    

    

    
      	
              1.11

            	
              "Part B
      Participant" means a Participant who accrues a Pension Plan benefit
      under the formula described in the Part B version of the Pension
      Plan.

            

    

    

    
      	
              1.12

            	
              "Pension Plan"
      means the CIGNA Pension Plan, a defined benefit pension plan, or its
      successor plan(s).

            

    

    

    
      	
              1.13

            	
              "Plan" means
      the CIGNA Supplemental Pension Plan of 2005 (Effective as of January 1,
      2005).

            

    

    

    
      	
              1.14

            	
              "Rabbi Trust"
      means a grantor trust, the assets of which will not be subject to the
      claims of creditors of the Company, except in the case of the bankruptcy
      or insolvency of the Company.

            

    

     

    
      	
              1.15

            	
              “Separation from
      Service” means a Participant’s death, retirement or other
      termination of employment, from the Participant’s employer or service
      recipient within the meaning of  Treasury Regulation Section
      1.409A-1(h)(1).  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 Participant’s
      Separation from Service occurs when the Participant’s level of services to
      CIGNA Corporation and its affiliates is reduced by 70% or
      more.

            

    

    

    
      	
              1.16

            	
              “Specified
      Employee” means a Participant who is a specified employee, within
      the meaning of Treasury Regulation Section 1.409A-1(i) and as determined
      by the Company, on the Participant’s Separation from Service
      date.

            

    

    

    
      	
              1.17

            	
              "Supplemental Pension
      Benefit” means the benefit payable to a Plan Participant as
      described in Section 3.1.

            

    

    

    
      	
              1.18

            	
              "Supplemental
      Pre-Retirement Survivor Benefit” means the benefit payable to
      Participant's Survivor as described in Sections 4.2 or
  4.3.

            

    

     

     

    
 

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
      	
              1.19

            	
              "Survivor"
      means a Participant's Spouse, Domestic Partner, Beneficiary or other
      person designated in writing by the Participant under procedures
      established by the Plan Administrator, to the extent the Spouse, Domestic
      Partner, Beneficiary or other person remains living after the
      Participant's death.

            

    

    

    Article
II                      Eligibility

    

    All
Eligible Employees of the Company who are participants in the Pension Plan after
2004 shall be eligible to participate in this Plan.  In no event shall
an employee who is not entitled to benefits under the Pension Plan be entitled
to benefits under this Plan.

    

    Article
III                     Supplemental Pension
Benefit

    

    
      	
              3.1

            	
              Accrual of
      Benefit

            

    

    

    
      	
              (a)

            	
              A
      Participant shall accrue a Supplemental Pension Benefit under the Plan
      equal to the excess of (1) over (2)
where:

            

    

    

    
      	
               
      

            	
              (1)

            	
              is
      the Accrued Benefit the Participant would have under the Pension Plan if
      the Pension Plan did not have:

            

    

    

    
      	
               
      

            	
              (A)

            	
              a
      limit on retirement benefits under Code Section
  415;

            

    

    

    
      	
               
      

            	
              (B)

            	
              a
      limit on compensation under Code Section 401(a)(17);
  and

            

    

    

    
      	
               
      

            	
              (C)

            	
              an
      exclusion from Eligible Earnings of compensation deferred under the
      Deferred Compensation Plan; and

            

    

    

    
      	
               
      

            	
              (2)

            	
              is
      the sum of Participant’s:

            

    

    
      

      
        	
                 
      

              	
                (A)

              	
                

                  actual
      Accrued Benefit under the Pension Plan;
  and

                

              

      

      

      
        	
                 
      

              	
                (B)

              	
                

                  Supplemental
      Pension Benefit, if any, under the Frozen
  Plan.

                

              

      

    

    

    
      	
              (b)

            	
              For
      a Part A Participant, the Supplemental Pension Benefit shall include the
      value, determined using the applicable assumptions and methods under the
      Pension Plan (as modified by Section 3.3) as of the date of payment, of
      the excess of (1) over (2) where:

            

    

    

    
      	
               
      

            	
              (1)

            	
              is
      the post-retirement subsidized Survivor benefit that would be payable to
      the Participant’s Survivor under the Pension Plan if the Pension Plan did
      not have the provisions listed in Section 3.1 (a)(1)(A), (B) and (C);
      and

            

    

     

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    
 

    
      	
               
      

            	
              (2)

            	
              is
      the sum of:

            

    

    

    
      	
               
      

            	
              (A)

            	
              the
      post-retirement subsidized Survivor benefit that would actually be payable
      to Participant’s Survivor under the Pension Plan;
  and

            

    

    

    
      	
               
      

            	
              (B)

            	
              the
      subsidized post-retirement Survivor benefit, if any, payable as part of
      the Participant’s Supplemental Pension Benefit under Section 3.1(b) of the
      Frozen Plan.

            

    

    

    
      	
              (c)

            	
              For
      purposes of the calculations in Section 3.1(a) and (b), a Participant’s
      benefit under the Frozen Plan shall be the benefit that was earned and
      100% vested as of December 31, 2004, determined in a manner that complies
      with Code Section 409A and related U.S. Treasury
  guidance.

            

    

    

    3.2           Vesting

    

    The
vesting of a Participant's Supplemental Pension Benefit shall be subject to the
Pension Plan's vesting provisions.

    

    3.3           Calculation of
Benefits

    

    For all
calculations of actuarial equivalence under the Plan, the applicable actuarial
factors and methods described in the Pension Plan shall be used except that, for
Part A Participants, the Applicable Interest Rate shall be the same rate(s)
used, for the applicable time period(s), to calculate the present value of
pension benefits guaranteed by the Pension Benefit Guaranty Corporation in case
of a plan termination.

    

    3.4           Coordination with Other
Retirement Benefits

    

    The
Supplemental Pension Benefit shall be added to, and treated as being part of,
the benefits payable to a Participant (or a Spouse, Domestic Partner or
Beneficiary) under the Pension Plan when applying provisions of other Company
retirement plans, arrangements or agreements which provisions reduce benefits
payable under these plans, arrangements or agreements by the amount of benefits
payable under the Pension Plan.

    

    3.5           Duration of
Accruals

    

    No
Participant shall accrue any Supplemental Pension Benefit under this Plan during
any period in which benefit accruals under the Pension Plan have been suspended
or after benefit accruals under the Pension Plan have ceased.

     

     

    
 

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

    Article
IV                                Payment of
Benefits

    

    4.1           Time and Form of
Payment

    

    
      	
              (a)

            	
              The
      Supplemental Pension Benefit under Section 3.1 shall be paid to the
      Participant in the form of a single lump sum upon the later of the
      Participant’s Separation from Service or attaining age 55, in January of
      the year following the later event.

            

    

    

    
      	
              (b)

            	
              Notwithstanding
      Section 4.1(a), if a Participant is a Specified Employee and payment of
      the Participant’s Supplemental Pension Benefit is upon Separation from
      Service, the Participant’s Supplemental Pension Benefit shall be paid in
      July of the year following Separation from
  Service.

            

    

    

    
      	
               (c)

            	
              The
      amount of the benefit payable in single lump sum form shall be the
      actuarially equivalent present value, determined as of the date of
      payment, of:

            

    

    

    
      	
               
      

            	
              (1)

            	
              the
      Supplemental Pension Benefit described in Section 3.1(a),
    and

            

    

    

    
      	
               
      

            	
              (2)

            	
              for
      a Part A Participant, the amount, if any, described in Section
      3.1(b),

            

    

    

    
      	
               
      

            	
              with
      both (1) and (2) stated in the form of a single life
    annuity.

            

    

    

    4.2           Pre-Retirement Death
Benefits - Part A Participants

    

    
      	
              (a)

            	
              If
      a Part A Participant who dies before the Supplemental Pension Benefit
      payment has been made under Section 4.1 has a Survivor who is eligible for
      a pre-retirement Survivor benefit under the Pension Plan, then the
      Survivor shall be eligible for a Supplemental Pre-Retirement Survivor
      Benefit under this Plan (if the amount calculated under Section 4.2(c) is
      greater than zero).

            

    

    

    
      	
              (b)

            	
              The
      Supplemental Pre-Retirement Survivor Benefit shall be paid to the
      Participant’s eligible Survivor in a single lump sum amount (1) within 90
      calendar days after the date of Participant's death, if the Participant
      dies before January 1, 2008 or (2) in the year after the year of
      Participant's death, if the Participant dies on or after January 1,
      2008.

            

    

    

    
      	
               (c)

            	
              The
      amount of the Supplemental Pre-Retirement Survivor Benefit shall be equal
      to the actuarial present value, determined using the applicable
      assumptions and methods under the Pension Plan (as modified by Section 3.3
      of this Plan) as of the date of payment, of the excess of (1) over (2)
      where:

            

    

    

    
      	
               
      

            	
              (1)

            	
              is
      the pre-retirement Survivor benefit that would be payable to the Survivor
      under the Pension Plan if the Pension Plan did not have the provisions
      listed in Section 3.1(a)(1)(A), (B) and (C) of this Plan;
    and

            

    

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    
 

    
      	
               
      

            	
              (2)

            	
              is
      the sum of:

            

    

    

    
      	
               
      

            	
              (A)

            	
              the
      pre-retirement Survivor benefit that is actually payable under the Pension
      Plan; and

            

    

    

    
      	
               
      

            	
              (B)

            	
              the
      Supplemental Pre-Retirement Survivor Benefit and/or Supplemental
      Pre-Retirement Surviving Spouse Benefit, if any, payable under the Frozen
      Plan.

            

    

    

    
      	
              (d)

            	
              For
      purposes of the calculation in Section 4.2(c), the Frozen Plan benefit
      described in Section 4.2(c)(2)(B) shall be the benefit that was earned and
      100% vested as of December 31, 2004, determined in a manner that complies
      with Code Section 409A and related U.S. Treasury
  guidance.

            

    

    

    4.3           Pre-Retirement Death
Benefits - Part B Participants

    

    If a Part
B Participant dies before the Supplemental Pension Benefit payment has been made
under Section 4.1, the Participant's Supplemental Pension Benefit shall be paid
to the Participant's Beneficiary in a single lump sum amount (1) within 90
calendar days after the date of Participant's death, if the Participant dies
before January 1, 2008 or (2) in the year after the year of Participant's death,
if the Participant dies on or after January 1, 2008.

    

    4.4           Supplemental Pension
Benefits after Rehire

    

    
      	
               (a)

            	
              To
      the extent a Part A Participant has been paid a lump sum Supplemental
      Pension Benefit under this Plan or the Frozen Plan and is later rehired by
      any Company, he shall not, upon subsequent Retirement or other Separation
      from Service, be entitled to any additional Supplemental Pension Benefit
      under this Plan based upon any Credited Service used in the calculation of
      the initial Supplemental Pension Benefit payment.  Furthermore,
      any Credited Service that is or would be disregarded under the preceding
      sentence in computing a Part A Participant's Supplemental Pension Benefit
      shall also be disregarded in computing any benefits payable to
      Participant's Survivor under Section 4.2 after Participant's
      reemployment.

            

    

    

    
      	
              (b)

            	
              To
      the extent a Part B Participant is paid a lump sum Supplemental Pension
      Benefit under this Plan or the Frozen Plan and is later rehired by any
      Company, he shall not, upon subsequent Retirement or other Separation from
      Service, be entitled to any additional Supplemental Pension Benefit under
      this Plan based upon any Benefit Credits or Interest Credits used in the
      calculation of the initial Supplemental Pension Benefit
      payment.  Furthermore, any Credits that are or would be
      disregarded under the preceding sentence in computing a Part B
      Participant's Supplemental Pension Benefit shall also be disregarded in
      computing any benefits payable to Participant's Beneficiary under Section
      4.3 after Participant's
reemployment.

            

    

    

    
      	
              (c)

            	
              Any
      Supplemental Pension Benefit payable under this Plan to a Participant who
      is rehired shall be reduced by the value of any Supplemental Pension
      Benefit paid before his rehire.

            

    

     

     

    
 

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    4.5           Beneficiaries

    

    The Plan
Administrator shall provide an opportunity for a Part B Participant to designate
in writing one or more Beneficiaries to receive Plan benefits following the
Participant's death, and to change any designations.  If a Participant
dies without a surviving, validly designated Beneficiary and all or part of the
Participant's Accrued Benefit remains payable, the benefit shall be paid to the
Participant's surviving Spouse or Domestic Partner or, if there is no surviving
Spouse or Domestic Partner, to the Participant's estate.

    

    4.6           Domestic Relations
Orders

    

    A person
shall not qualify for a benefit under this Plan solely because he is entitled to
a benefit under the Pension Plan by reason of a "qualified domestic relations
order" (as defined in ERISA Section 206).  Notwithstanding Section
7.3, the Plan Administrator shall comply with the terms of a qualified domestic
relations order that specifically assigns to another person all or part of a
Participant’s or a Survivor’s rights to benefits under this Plan.

    

    4.7           Tax
Withholding

    

    Plan
payments, and under certain circumstances an accrued Supplemental Pension
Benefit not yet paid, may be subject to withholding for taxes.  To the
extent the Company meets any withholding obligations by paying the required
withholding, the Participant's Supplemental Pension Benefit shall be reduced by
the amount of the Company's payment.

    

    

    Article
V                      Funding

    

    5.1           In
General

    

    
      	
              (a)

            	
              This
      Plan shall be maintained as an unfunded plan that is not intended to meet
      the qualification requirements of Code Section 401.  Plan
      benefits shall be payable solely from the general assets of the Company
      that employs the Participant when benefits are accrued, or a Company that
      has assumed liability for paying the benefits.  No separate or
      special fund shall be established and no segregation of assets shall be
      made to assure the payment of Plan benefits, though the Company may choose
      to fund Plan benefits through a Rabbi Trust.  A Participant
      shall have no right, title, or interest in or to any investments that the
      Company may make to aid in meeting its obligations under this
      Plan.

            

    

    

    
      	
              (b)

            	
              Nothing
      contained in the Plan, and no action taken under it, shall create or be
      construed to create a trust of any kind, or a fiduciary relationship,
      between the Company or the Plan Administrator and a Participant or any
      other person.  To the extent that any person acquires a right to
      receive Plan benefits, that right shall be no greater than the right of an
      unsecured creditor of the Company.

            

    

     

     

    
 

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

    Article
VI                                Administration

    

    6.1           Plan
Administrator

    

    
      	
              (a)

            	
              The
      Plan shall be administered by a Plan Administrator appointed in accordance
      with the terms of the Pension Plan.  The Plan Administrator
      shall have full power and authority to interpret the Plan; to prescribe,
      amend and rescind any rules, forms and procedures as it deems necessary or
      appropriate for the proper administration of the Plan; to make any other
      determinations including factual determinations and determinations as to
      eligibility for, and the amount of, benefits payable under the Plan; and
      to take any other actions it deems necessary or advisable in carrying out
      its duties under the Plan.

            

    

    

    
      	
              (b)

            	
              All
      decisions, interpretations and determinations by the Plan Administrator
      shall be final and binding on the Company, Participants and any other
      persons having or claiming an interest under this
  Plan.

            

    

    

    
      	
              (c)

            	
              The
      claim and appeal process under the Pension Plan shall apply to this
      Plan.

            

    

    

    
      	
              (d)

            	
              It
      is intended that the Plan comply with the requirements of Code Section
      409A, and the Plan shall be so administered and
    interpreted.

            

    

    

    6.2           Amendment or
Termination

    

    Subject
to Section 6.3, CIGNA, through its Board of Directors, the People Resources
Committee of the Board of Directors (or a successor committee), may amend or
terminate this Plan at any time, in whole or in part.  Except to the
extent required to comply with applicable law, no amendment or termination shall
impair or adversely affect any benefits accrued under the Plan in which the
Participant was vested as of the date of that action.

    

    6.3           Change of
Control

    

    For a
three-year period beginning on the effective date of a Change of Control and as
to Participants on that date:

    

    
      	
              (a)

            	
              the
      Plan shall not be terminated;

            

    

    

    
      	
              (b)

            	
              the
      accrual of Supplemental Pension Benefits shall not be stopped, suspended
      or otherwise adversely affected;
and

            

    

    

    
      	
              (c)

            	
              the
      rate at which Supplemental Pension Benefits accrue shall not be
      reduced.

            

    

     

     

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    
 

    CIGNA
reserves the right to amend or eliminate this Section 6.3 at any time before a
Change of Control.

    

    

    Article
VII                                Miscellaneous

    

    7.1           Notices

    

    A
Participant, Beneficiary or Survivor shall be responsible for providing the Plan
Administrator with his or her current and proper address for the mailing of
notices, reports and benefit payments.  Any notice shall be deemed
given if directed to a person's last known address and mailed by regular United
States mail, first-class and prepaid.

    

    7.2           Nonalienation of
Benefits

    

    None of
the payments, benefits or rights of any Participant, Beneficiary or Survivor
shall be subject to any claim of any creditor.  To the fullest extent
permitted by law, all Plan payments, benefits and rights shall be free from
attachment, garnishment, trustee's process, or any other legal or equitable
process available to any creditor of the Participant, Beneficiary or
Survivor.  No Participant, Beneficiary or Survivor shall have the
right to alienate, anticipate, commute, pledge, encumber or assign any of the
benefits or payments that he may expect to receive under this Plan, except the
right, to the extent applicable, to designate a Beneficiary or Survivor and
change a Beneficiary or Survivor designation.

    

    7.3           Reliance on
Data

    

    The
Company, the Plan Administrator and all other persons associated with the Plan's
operation shall have the right to rely on the veracity and accuracy of any data
provided under this Plan or the Pension Plan by the Participant, Beneficiary or
Survivor, including representations as to age, health and marital
status.  These representations are binding upon any party seeking to
claim a benefit through a Participant.  The Company, the Plan
Administrator and all other persons associated with the Plan's operation are
absolved completely from inquiring into, and may rely upon, the accuracy or
veracity of any representation made at any time by a Participant, Beneficiary or
Survivor.

    

    7.4           No Contract of
Employment

    

    Neither
the establishment of the Plan, nor any Plan amendment, nor the creation of any
fund, trust or account, nor the payment of any benefits shall be construed as
giving any Participant, or any other person, the right to be employed or
continue to be employed by the Company, and all Participants and other persons
shall remain subject to discharge to the same extent as if the Plan had never
been adopted.

     

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    
 

    7.5           Effect on Other
Plans

    

    Except as
provided in the Plan, no Plan benefit shall be deemed salary or other
compensation in computing benefits under any employee benefit plan or other
arrangement of the Company.

    

    7.6           Severability of
Provisions

    

    If any
provision of the Plan shall be held invalid or unenforceable, the invalidity or
unenforceability shall not affect any other Plan provisions, and the Plan shall
be construed and enforced as if that provision had not been
included.

    

    7.7           Heirs, Assigns and Personal
Representatives

    

    The Plan
shall be binding upon the heirs, executors, administrators, successors and
assigns of the parties, including each Participant, Beneficiary or Survivor,
present and future.

    

    7.8           Payments to Minors,
Etc.

    

    Any
benefit payable to or for the benefit of a minor, an incompetent person or other
person incapable of legally accepting receipt shall be deemed paid when paid to
the person's guardian or to the party providing or reasonably appearing to
provide for the care of the person, and that payment shall fully discharge the
Company, the Plan Administrator and all other parties regarding that benefit
payment.

    

    7.9           Interpretation

    

    All
statutory or regulatory references in this Plan shall include successor
provisions.

    

    7.10          Headings and
Captions

    

    The
headings and captions in the Plan are provided for reference and convenience
only, shall not be considered part of the Plan, and shall not be employed in the
construction of the Plan.

    

    7.11           Gender and
Number

    

    Except
where otherwise clearly indicated by context, the masculine and the neuter shall
include the feminine and the neuter, the singular shall include the plural, and
vice-versa.

     

    7.12           Controlling
Law

    

    The Plan
shall be construed and enforced according to the laws of the Commonwealth of
Pennsylvania, without regard to Pennsylvania conflict of laws rules, to the
extent not preempted by federal law, which shall otherwise control.

    

    END OF
DOCUMENT

    
 

     10ex10-22.htm

    John M.
Murabito, Executive Vice President Human Resources and Services

    Exhibit 10.22

     

     

    
      
        	 	
	 	 
	 
      	
                1601
      Chestnut Street

              
	
                [Date]

              	
                Philadelphia,
      PA 19192

              
	 
      	
                Telephone
      XXX-XXX-XXXX

              
	
                [Name]

              	 
      
	
                [Dept.]

              	 
      

      

    

     

    Form
of

    CIGNA Long-Term Incentive
Plan:  Nonqualified Stock Option

     

    Congratulations,
CIGNA Corporation (CIGNA) has awarded you, [Name] (ID: XXXXX), a
Nonqualified Stock Option (Option) under the CIGNA Long-Term Incentive Plan
(Plan) as follows:

     

    
      	
              Date
      of

            	
              Number of
      Shares

            	
              Option
      Price

            
	
              Grant

            	
              Underlying the
      Option

            	 
      
	 	 	 
	
              [Date]

            	
              XXX
      Shares

            	
              $XXX.XX

            

    

     

    If you
remain continuously employed by a CIGNA company from the date of grant, the
Option will become exercisable [per Vesting
Schedule].

    

    The award
is subject to the provisions of the Plan and the Attachment.  The
Attachment contains, among other provisions:

    

      
        	
                l

              	
                a non-competition
      paragraph;

              

      

       

      
        	
                l

              	
                customer and employee
      non-solicitation paragraphs;
and

              

      

       

      
        	
                l

              	
                a requirement that you must
      notify CIGNA's Shareholder Services Department immediately in writing if
      you do not accept the Option
      grant.  If you do not notify CIGNA or you exercise the Option,
      you will be agreeing to all the terms and conditions of the
      grant.

              

      

       

    

    The
Attachment and Key Contacts and Reference Materials document are
enclosed.  The Key Contacts and Reference Materials document contains
information on how to get important stock award information (such as the Plan
document, Plan Prospectus, Tax Considerations and CIGNA's Securities
Transactions and Insider Trading Policy) and whom to contact if you have
questions.

     

    Please be
aware that the CIGNA Securities Transactions and Insider Trading Policy places
restrictions on your transactions in CIGNA securities and requires certain CIGNA
employees to obtain advance permission from the Corporate Secretary before
executing transactions in CIGNA securities.

     

    For more
information about your award, please visit Your CIGNA
Life>Returns>Incentive Pay>Stock Program.  If you still have
questions after reviewing the website, please call the CIGNA Shareholder
Services Department at [phone
number].

    

    
      	 
      	
              CIGNA
      CORPORATION

            
	 
      	
              BY

            
	 
      	
              John
      M. Murabito

            

    

     

    Enclosures

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ATTACHMENT
TO [DATE] GRANT

    OF
NONQUALIFIED STOCK OPTIONS

    

    This
Attachment is part of your [Date]
Option grant from CIGNA.  The terms of your Option are in (a) the
grant letter, (b) this Attachment and (c) the applicable Plan
provisions.  Certain words in this Attachment with first letters
capitalized are defined in the grant letter, the Attachment or Article 2 of the
Plan. This grant is void if you are not an employee of CIGNA or a Subsidiary (a
CIGNA company) on [Date].

    

    
      	
              1.

            	
              The
    Option

            

    

    

    The
Option gives you the right to buy a certain number of shares of CIGNA
Corporation Common Stock (Shares) during the Option Period at the Option
Price.  Your grant letter lists the number of Shares and your Option
Price.

    

    
      	
              2.

            	
              Option
      Period

            

    

    

    [Vesting
Schedule].

     

    You
can exercise the Option only during the Option Period.  The Option
“vests” (becomes exercisable) on the first day of the Option Period and expires
on the last day of the Option Period.

     

    The Option Period for all the Shares ends the
earlier of 5:00 p.m. Philadelphia time on [expiration date] or upon
your Termination of Employment described under Early
Expiration in paragraph 4.

    

    If your
Termination of Employment occurs before the Option vests, the Option will lapse
immediately upon your Termination of Employment unless it vests early as
described under Early
Vesting below.

    

    
      	
              3.

            	
              Early
      Vesting

            

    

    

    If your
Termination of Employment occurs before the Option vests under paragraph 2, it
will nevertheless vest on your Termination of Employment date if:

    

    
      	
              (a)

            	
              Your
      Termination of Employment is because of your death, Disability, Early
      Retirement or Retirement and you have not
      received or will not be receiving severance pay from any CIGNA company
      (whether under any severance benefit plan or any contract, agreement or
      arrangement); or

            
	 	 
	(b)	Your
      Termination of Employment is Upon a Change of
Control.

    

     

    4.            
Early
Expiration

    

    
      	
              (a)

            	
              The
      Option will expire immediately upon your Termination of Employment
      (including a termination during an approved leave of absence) unless:

            

    

    

    
      	
               
      

            	
              (1)

            	
              Your
      Termination of Employment is on account of death, Disability, Early
      Retirement, or Retirement; and

            

    

    

    
      	
               
      

            	
              (2)

            	
              You
      will not be receiving severance pay from any CIGNA company (whether under
      any severance benefit plan or any contract, agreement or
      arrangement).

            

    

    

    
      	
              (b)

            	
              If
      your Termination of Employment is because of your death, Disability or
      Retirement, and you will not be receiving severance pay from any CIGNA
      company (whether under any severance benefit plan or any contract,
      agreement or arrangement), the Option Period will end at 5:00 p.m.
      Philadelphia time on [expiration
      date].

            

    

    

    
      	
              (c)

            	
              If
      your Termination of Employment is because of your Early Retirement, and
      you will not be receiving severance pay from any CIGNA company (whether
      under any severance benefit plan or any contract, agreement or
      arrangement), the Option will expire
on:

            

    

    

    
      	
               
      

            	
              (1)

            	
              The
      earlier of [expiration
      date] or the third anniversary of your Termination of Employment
      date; or

            

    

     

    
      	
               
      

            	
              (2)

            	
              [Expiration date]
      if, within six months before your Termination of Employment date,
      you were an Executive Officer subject to the requirements of Section 16(a)
      of the Securities Exchange Act of 1934 (“Executive
    Officer”).

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              (d)

            	
              If
      your Termination of Employment is Upon a Change of Control, the Option
      will expire on the earlier of [expiration date] or
      three months after your Termination of Employment
    date.

            

    

     

    
      5.  
         Exercising the
Option; Tax Withholding

    

     

    
      	
              (a)  

            	
              Your
      rights to exercise the Option, and to sell any Shares you acquire by
      exercising the Option, may be limited by CIGNA.  The rights are
      subject to the terms of CIGNA's Securities Transactions and Insider
      Trading Policy, and CIGNA reserves the right, for any reason at any time,
      to suspend or delay action on any request you make to exercise the Option
      or sell the Shares.  The method by which you may exercise the
      Option may be restricted by CIGNA to comply with legal
      requirements.  In the event that you are unable to exercise the
      Option due to limitations imposed by applicable law, the Option will not
      expire on the otherwise applicable termination date determined under
      paragraph 4 above but instead will terminate ten business days after the
      first date on which the Option is again exercisable free of such
      limitations (provided, however, that the Option shall not be exercisable
      after 5:00 p.m. Philadelphia time on [expiration
      date].

            

    

    

    
      	
              (b)

            	
              To
      exercise all or part of the Option, you must complete and submit, where
      required by CIGNA, an appropriate Option exercise form and pay the Option
      Price and any required tax
withholding.

            

    

    

    
      	
              (c)

            	
              You
      may pay the Option Price with cash.  If you pay with cash, you
      must also pay any applicable withholding tax liability in cash before
      Shares will be deposited in your Stock Account or delivered to
      you.

            

    

    

    
      	
              (d)

            	
              If
      you are an employee of a CIGNA company when you exercise the Option, you
      may pay the Option Price with shares of CIGNA Common Stock that are in
      your Stock Account as long as:

            

    

    

    
      	
            	
              (1)

            	
              you
      first purchased the shares on the open market;
  or

            

    

    

    
      	
               
      

            	
              (2)

            	
              at
      least six months have elapsed after (A) the grant date, if you received
      them as a grant of unrestricted Shares; (B) the vesting date, if you
      received them as a grant of Restricted Stock; or (C) the purchase date, if
      you bought them through a previous option
  exercise;

            

    

    

    
      	
               
      

            	
              provided,
      however, in no event shall such form of Option exercise be permitted if,
      as determined by CIGNA in its sole discretion, adverse tax or accounting
      consequences to CIGNA would result.  If you are not an employee
      of a CIGNA company when you exercise the Option, or if your beneficiary or
      estate exercises the Option, the Option Price cannot be paid in shares of
      stock.

            

    

    

    
      	
              (e)

            	
              If
      you pay the Option Price in shares of CIGNA Common
  Stock:

            

    

    

    
      	
               
      

            	
              (1)

            	
              You
      must exercise the Option for at least 50 Shares.  If there are
      not at least 50 Shares underlying the Option, you must exercise the Option
      for all the Shares.

            

    

    

    
      	
               
      

            	
              (2)

            	
              You
      must pay any applicable tax-withholding obligation.  CIGNA
      reserves the right to withhold from the Shares you purchase enough Shares
      to defray all or part of any applicable tax-withholding
      obligation.  If you are an Executive Officer when you exercise
      the Option, you may satisfy part of the withholding obligation by
      remitting to CIGNA shares of Common Stock you have owned for at least six
      months as of the date the withholding obligation
  arises.

            

    

    

    
      	
              (f)

            	
              To
      the extent permitted by applicable law, CIGNA may provide you, your
      beneficiary or estate with a way to do a cashless exercise of the
      Option.  The ability to do a cashless exercise, and the rules
      that apply, are subject to modification or termination by CIGNA in its
      sole discretion at any time.

            

    

    

    6.           Book-Entry
Shares

    

    When you,
your beneficiary or estate exercise the Option, CIGNA (or a custodian appointed
by CIGNA) will hold your Shares in book-entry form in your Stock Account and
issue a statement to the appropriate party showing the Shares credited to your
Stock Account.  If you ask for a stock certificate, a certificate will
be issued, unless a Restitution Event has occurred.

    

    7.           Conditions of Option
Grant

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              (a)

            	
              You
      agree not to engage in any conduct that constitutes a Restitution
      Event.  You understand and agree that your agreement not to
      engage in any conduct that would constitute a Restitution Event is a
      material part of the inducement for, and a condition precedent to, (1)
      CIGNA granting you the Option and (2) your eligibility to exercise the
      Option and retain any benefit from the exercise of the
    Option.

            

    

    

    
      	
              (b)

            	
              A
      “Restitution Event” will occur if, directly or indirectly, you do any of
      the things listed below:

            

    

    

    
      	
               
      

            	
              (1)

            	
              Have
      a Termination of Employment initiated by a CIGNA company because of your
      misconduct, as that term is defined in CIGNA's Standards of Conduct or
      other employment policies;

            

    

    

    
      	
               
      

            	
              (2)

            	
              If,
      for a period of twelve months after your Termination of Employment and
      subject to paragraph 7(c), you own or operate a business (or accept a job
      as an employee or independent contractor with a business) that provides or
      offers products or services that compete with any CIGNA company (“CIGNA
      Competitor”);

            

    

    

    
      	
               
      

            	
              (3)

            	
              If,
      during your employment or for a period of twelve months after your
      Termination of Employment, you entice, encourage, persuade, or solicit, or
      attempt to entice, encourage, persuade or solicit, any employee of any
      CIGNA company to terminate his/her employment with, or otherwise cease
      his/her relationship, contractual or otherwise, with that CIGNA
      company.  This paragraph 7(b)(3) shall not apply to applications
      for employment submitted voluntarily by CIGNA employees, in response to
      general advertisements or otherwise; provided in both cases that such
      employees have not been enticed, encouraged, persuaded, or solicited by
      you, or anyone acting on your behalf or in response to information
      provided by you, to leave CIGNA;

            

    

    

    
      	
               
      

            	
              (4)

            	
              If,
      during your employment or for a period of twelve months after your
      Termination of Employment, you entice, encourage, persuade, or solicit, or
      attempt to entice, encourage, persuade or solicit, any customer of any
      CIGNA company to (i) end an existing relationship, contractual or
      otherwise, with that CIGNA company or (ii) enter into any business
      arrangements with you or any business which you may become employed by, or
      affiliated in any way with, after leaving any CIGNA company, if such
      business arrangements would compete in any way with any business that
      CIGNA has conducted, or has been planning to conduct, during the 12-month
      period ending on the date of the Restitution
  Event;

            

    

    

    
      	
               
      

            	
              (5)

            	
              Disclose
      to any third-party at any time, without the prior written consent of CIGNA
      (except to the extent required by an order of a court having competent
      jurisdiction or pursuant to a properly issued subpoena), whether during or
      after your employment, any trade secrets, confidential information, or
      proprietary materials (collectively, “Confidential Information”), which
      include, but are not limited to, customer lists, financial records,
      marketing plans, sales plans, etc., unless such Confidential Information
      has been previously disclosed publicly by CIGNA or has become public
      knowledge other than by your breach of the conditions of this Option
      grant;

            

    

    

    
      	
               
      

            	
              (6)

            	
              Do
      anything else while an employee of any CIGNA company that is not
      discovered by a CIGNA company until after your Termination of Employment
      that would, if you were an employee of a CIGNA company at the time of the
      occurrence’s discovery, be reason for your Termination of Employment for
      misconduct, as that term is defined in CIGNA's Standards of Conduct or
      other employment policies at such time;
or

            

    

    

    
      	
               
      

            	
              (7)

            	
              Fail
      at any time following your Termination of Employment to cooperate with
      CIGNA in all investigations of any kind, in assisting and cooperating in
      the preparation and review of documents and meeting with CIGNA attorneys,
      and in providing truthful testimony as a witness or a declarant in
      connection with any present or future court, administrative, agency, or
      arbitration proceeding involving CIGNA and with respect to which you have
      relevant information.  CIGNA agrees that it will reimburse you,
      upon production of appropriate receipts and in accordance with CIGNA's
      then existing Business Travel Reimbursement Policy, the reasonable
      business expenses (including air transportation, hotel, and similar
      expenses) incurred by you in connection with such
    assistance.

            

    

    

    
      	
              (c)

            	
              (1)

            	
              Paragraph
      7(b)(2) shall not apply to you if your Termination of Employment is
      initiated by a CIGNA company for reasons other than your misconduct, as
      that term is defined in CIGNA's Standards of Conduct or other employment
      policies.

            

    

    

    
      	
               
      

            	
              (2)

            	
              Paragraph
      7(b)(2) shall apply to you only if at the time of, or within six months
      before, your Termination of Employment you were
  employed:

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               
      

            	
              (A)

            	
              In
      a position at or above Career Band 6, in which case the geographic scope
      of the non-competition restriction shall be global;
  or

            

    

    

    
      	
               
      

            	
              (B)

            	
              In
      a position other than a Career Band 6 or above job and you will be
      performing work for the CIGNA Competitor that is similar to the work you
      performed at CIGNA at the time of, or within six months before, your
      Termination of Employment, in which case the geographic scope of the
      non-competition restriction shall be the geographic area covered by you,
      or the geographic area in which you worked or with respect to which you
      had responsibility, at the time of, or within six months before, your
      Termination of Employment.

            

    

    

    
      	
               
      

            	
              (3)

            	
              Paragraph
      7(c)(2)(B) shall be interpreted so that, for example, if you were a CIGNA
      sales employee and your sales territory at the time of, or within six
      months before, your Termination of Employment was Pennsylvania, New
      Jersey, and New York, Paragraph 7(b)(2) shall apply to you only if you
      work in a sales position for a CIGNA Competitor and only to the extent
      your territory is Pennsylvania, New Jersey, and/or New
      York.  Similarly, if you were a CIGNA underwriter with
      nationwide responsibilities on the date of, or within six months before,
      your Termination of Employment, and you accept a job with a CIGNA
      Competitor as an underwriter, paragraph 7(b)(2) shall be nationwide in
      scope.

            

    

    

    
      	
               
      

            	
              (4)

            	
              You
      acknowledge and agree that CIGNA's business competes on a global basis,
      that CIGNA’s sales and marketing plans are for continued expansion
      throughout the United States of America and globally, and that the global
      nature of this non-compete restriction and the time limitations set forth
      in paragraph 7(b) are reasonable and necessary for the protection of
      CIGNA's business and its Confidential
  Information.

            

    

    

    
      	
              (d)

            	
              (1)

            	
              If
      you were an Executive Officer at any time during the 24-month period
      before the date of the Restitution Event, the Committee shall determine
      whether you have a Restitution Event and shall have the sole discretion to
      waive your obligation to make all or any part of a Restitution Payment and
      to impose conditions on any waiver.

            

    

    

    
      	
               
      

            	
              (2)

            	
              With
      respect to all other individuals, CIGNA's Senior Human Resources Officer,
      or his or her designee, shall determine whether you have a Restitution
      Event, and shall have the sole discretion to waive your obligation to make
      all or any part of a Restitution Payment and to impose conditions on any
      waiver.

            

    

    

    
      	
               
      

            	
              (3)

            	
              Determinations
      of the Committee, CIGNA's Senior Human Resources Officer, or his or her
      designee, shall be final and binding on all
  parties.

            

    

    

    8.            Consequences
of a Restitution Event

    

    
      	
              (a)

            	
              You
      will be immediately required to make a Restitution Payment to CIGNA under
      paragraph 8(d) below if you exercised any part of the Option within the
      24-month period before the Restitution Event and
  either:

            

    

    

    
      	
               
      

            	
              (1)

            	
              You
      have a Restitution Event described in paragraph 7(b)(2), (3) or (4) either
      before your Termination of Employment or within 12 months after your
      Termination of Employment; or

            

    

    

    
      	
               
      

            	
              (2)

            	
              You
      have a Restitution Event described in paragraph 7(b)(1), (5), (6) or (7)
      at any time.

            

    

    

    
      	
              (b)

            	
              If,
      at any time, you have a Restitution Event, all unexercised portions of the
      Option shall be cancelled.

            

    

    

    
      	
              (c)

            	
              “Restitution
      Payment” means the amount equal to:

            

    

    

    
      	
            	
              (1)

            	
              the
      number of Shares you acquired when you exercised the Option; multiplied
      by

            

    

    

    
      	
               
      

            	
              (2)

            	
              the
      excess of (A) the Fair Market Value on the date you exercised the Option
      over (B) the Option Price; plus

            

    

    

    
      	
               
      

            	
              (3)

            	
              the
      total amount of all dividends, if any, paid on those Shares from the date
      you exercise the Option through the date of the Restitution
      Payment.

            

    

    

    
      	
              (d)

            	
              CIGNA
      will recover the Restitution Payment by any or all of the following
      methods, at the sole discretion of CIGNA
  management.

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               
      

            	
              (1)

            	
              When
      a Restitution Event occurs, if you have any Shares in your Stock Account
      or in any other account in book-entry form, you will relinquish the whole
      number of Shares that has a Fair Market Value (as of the date of the
      Restitution Event) up to, but not more than, the Restitution
      Payment.

            

    

    

    
      	
               
      

            	
              (2)

            	
              After
      recovery of Shares described in paragraph 8(d)(1), CIGNA will, to the
      extent permitted by applicable law, reduce by any remaining Restitution
      Payment the amount of any payments owed to you by CIGNA or any Subsidiary,
      including without limitation any payments due you under any nonqualified
      retirement, deferred compensation or other plan or
      arrangement.  This reduction will not occur, however, until the
      date a future payment to you is
due.

            

    

    

    
      	
               
      

            	
              (3)

            	
              You
      will be obligated to repay to CIGNA, within 30 days after you receive a
      written notice and demand for payment from CIGNA, any Restitution Payment
      remaining after taking into account the recovery of Shares under paragraph
      8(d)(1) and the reduction of payments to you under paragraph
      8(d)(2).

            

    

    

    
      	
              9.

            	
              Acceptance

            

    

    

    If you
disagree with any of the terms and conditions of this Attachment, including the
restitution provisions in paragraphs 7 and 8, notify CIGNA's Shareholder
Services Department immediately in writing that you are not accepting the
Option.  If you fail to notify CIGNA's Shareholder Services
Department, you will be (i) agreeing to all the terms and conditions of the
Option, including the restitution provisions, as conditions precedent to your
eligibility to exercise the Option; (ii) warranting and representing to CIGNA
that you are, and will remain, in full compliance with all the terms of the
Option; and (iii) authorizing the recovery by CIGNA of the Restitution Payment
if you have a Restitution Event.

    

    10.           Injunctive
Relief

    

    You agree
that CIGNA shall, in addition to any other relief available at law or equity, be
entitled to injunctive relief and/or to have the restrictive covenants contained
in paragraph 7(b) specifically enforced by a court of competent jurisdiction
(without the requirement to post a bond), it being agreed that any breach or
threatened breach of the restrictive covenants set forth in paragraph 7(b) would
cause irreparable injury to CIGNA and that monetary damages alone would not
provide an adequate remedy.  The remedies contained herein are
cumulative and are in addition to any other rights and remedies CIGNA may have
at law or in equity.

    

    11.           Agreeing to Assume
Risks

    

    CIGNA and
its transfer agent will try to process your stock transaction requests in a
timely manner; however, CIGNA makes no promises or guarantees to you relating to
the market price of the Shares or to the time it may take to act on your request
to exercise the Option, sell the Shares or deliver Share
certificates.  By exercising the Option:

    

    
      	
              (a)

            	
              You
      acknowledge that the action you request may not be completed until several
      days (or in the case of delivery of Share certificates, several weeks)
      after you submit it.

            

    

    

    
      	
              (b)

            	
              You
      agree to assume the risks, including the risk that the market price of the
      Shares may change, related to delays described in paragraph
      11(a):

            

    

    

    
      	
            	
              (1)  

            	
              Between
      the time you submit an Option exercise form and the time your Option is
      actually exercised;

            

    

    

    
      	
            	
              (2)  

            	
              Between
      the time you ask for any Shares to be sold and the time your Shares are
      actually sold; and

            

    

    

    
      	
            	
              (3)  

            	
              Between
      the time you ask for Share certificates to be delivered to you or your
      broker and the time the certificates are
  delivered.

            

    

    

    12.          
Applicable Law; Arbitration

    

    
      	
              (a)

            	
              You
      understand and agree that the terms and conditions of this Option,
      including any Restitution Event, the consequences of any Restitution
      Event, and all determinations made pursuant to the Option grant letter,
      the Plan, and this Attachment shall be construed under the laws of the
      Commonwealth of Pennsylvania, without regard to its conflict of laws
      rule.

            

    

    

    
      	
              (b)

            	
              You
      agree that any dispute regarding the terms and conditions under which this
      Option has been granted will be resolved exclusively pursuant to the CIGNA
      Employment Dispute Arbitration Policy and its Rules and Procedures as
      

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	 	may
      be in effect at the time such dispute arises.  You agree and
      understand that you are waiving your right to have such a dispute decided
      by a judge or jury in a court of law, and instead you are agreeing to
      submit such disputes exclusively to mandatory and binding final
      arbitration; however, you and/or CIGNA may seek emergency or temporary
      injunctive relief from a court in accordance with applicable
      law.  After a court has issued a decision regarding emergency or
      temporary injunctive relief, you and CIGNA shall submit the dispute to
      final and binding arbitration pursuant to the CIGNA Employment Dispute
      Arbitration Policy.

    

    

    13.          
Miscellaneous

    

    
      	
              (a)

            	
              If
      any provision of this Attachment is determined by a court of competent
      jurisdiction to be unenforceable as written, such provision shall be
      enforceable to the maximum extent permitted by law and shall be reformed
      by such court to make such provision enforceable in accordance with the
      intent of the parties and applicable
law.

            

    

    

    
      	
              (b)

            	
              The
      failure of any party to enforce any of the provisions of this Option shall
      not be construed to be a waiver of the right of such party to enforce such
      provisions in the future.

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